VS exposure to the US market is 50%, SKP 20%. The devil is in the details bcos .. E&E + semiconductor is exempted. As for the rest of E&E products without semiconductor are subject to 24% tariff. Saying Malaysia charges 47% on US products isn't accurate bcos Msia only charges 5.0% tariff on US products. Now they are in discussion for more precise information about the tariff and it's still negotiable.

unfortunately two local headwinds ahead which could challenge its margins and worth to monitor - impact of higher minimum wage starting Feb'25 and higher electricity tariff starting Jul'25. Impact will be negligible if there is a cost pass through mechanism in place / contracts with customer.