Issue #276 - 1 November 2021 Dear Subscriber, |
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24 Companies Sign Up for the BMCC Climate Action Pledge as Inaugural Malaysia Climate Action Week Wraps Up Successfully
The Malaysia Climate Action Week (MCAW), organised by the BMCC and British High Commission, Kuala Lumpur (BHCKL), bade participants a fond farewell last Friday after five days of incisive discussions on climate action covering ESG principles, climate governance, sustainable energy, climate-smart cities, net zero supply chains and food supply. The event, which attracted close to 900 registrations, offered valuable insights from an impressive line-up of 36 experts and corporate leaders, and successfully set the scene for COP26 proceedings in Glasgow this week.
One of the key highlights of MCAW, the BMCC Climate Action Pledge, was launched on Day 4. Officiating the pledge, guest of honour Sam Myers, HM Deputy Trade Commisioner for Asia Pacific (Southeast Asia), Department for International Trade (DIT) said, "It is fantastic that the BMCC, aided by the British High Commission, Kuala Lumpur, with the crucial support of UN Global Compact Malaysia and Brunei (UNGCMYB), has initiated the BMCC Climate Action Pledge as a platform to encourage businesses operating in Malaysia to take your first steps or indeed demonstrate your leadership towards decarbonisation over the next 12 months. The pledge is really not just about the signing – that's just the start of things. You are not alone. The Chamber and the network will provide help and expertise so that real progress will be made over the coming months."
To all the companies that have yet to start their climate action journey, Sam said, "I hope you will take your steps today on the call to stand up and demonstrate your leadership within your organisation, explore more and hopefully sign up to the climate action pledge."
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Company representatives of BMCC Climate Action Week Pledge signatories at the launch event. |
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At the time of the launch, there were 24 pledge signatories across all sectors that signed the BMCC Climate Action Pledge. Since then, another two companies, i.e. DDCAP Group and Oxbridge Institute of Professional Development have joined the pledge, bringing the total to 26 companies, a remarkable achievement for climate action in Corporate Malaysia!
For companies that have yet to commit to the BMCC Climate Action Pledge, take action today and sign up here.
To learn more about the pledge and BMCC's support for signatories as well as related initiatives, please contact daniel@bmcc.org.my.
The BMCC wishes to convey our heartfelt thanks to our co-organiser BHCKL, our sponsors DDCAP Group, HSBC, ICAEW, IPMUDA Berhad and Smith & Nephew, our supporting organisations and our excellent speakers, panellists and moderators for making the first MCAW a resounding success. We hope to see you again next year!
To catch replays of all six MCAW webinars, head over to the event microsite here. |
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BMCC-CCIFM Webinar | Economic Outlook and Post-Budget 2022
Themed "Keluarga Malaysia, Makmur Sejahtera", the Malaysia National Budget 2022 was tabled last Friday, 29 October 2021 and is anchored on three key pillars, i.e. Strengthening Recovery, Building Resilience and Driving Reforms, to spur the country's post pandemic recovery. It is the largest budget to date, with an allocation of RM332.1 billion.
Join us for BMCC’s post-budget webinar where our expert panellists will share their insights and analysis on the economy: - Datuk Johan Mahmood Merican, Director, National Budget Office, Ministry of Finance, Malaysia
- YB Dr. Ong Kian Ming, Member of Parliament, Bangi / Special Select Committee on Finance & Economy, Parliament of Malaysia
- Amarjeet Singh, Asean Tax Leader, Malaysia Tax Managing Partner, Ernst & Young Tax Consultants Sdn. Bhd.
- Anil Kumar Puri, Partner & Malaysia International Tax Leader, Ernst & Young Tax Consultants Sdn. Bhd.
- Yeoh Cheng Guan, Partner & Malaysia Indirect Tax Leader, Ernst & Young Tax Consultants Sdn. Bhd.
Date: Tuesday, 16 November 2021 Time: 2.45pm - 4.30pm (MYT)
Meanwhile, catch the Budget Highlights from our BMCC members below:
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BMCC-MIDA Breakfast Meeting between MITI Senior Minister and BMCC Members/UK Investors in London
The trade and investment mission (TIM) to Europe from 13 to 21 October 2021, led by Senior Minister and Minister of International Trade and Industry, YB Dato' Seri Mohamed Azmin Ali has yielded promising results, with the European investors making a strong commitment to invest a total of RM14.1 billion in Malaysia.
The Ministry of International Trade and Industry (MITI) said in a statement that the potential foreign direct investment (FDI) from Germany is RM10.7 billion while potential FDIs from France and the United Kingdom are RM2.6 billion and RM800 million respectively.
The ministry said Malaysia’s economic transformation efforts, particularly in driving the environment, social and governance (ESG) agenda, are well received by the European business community.
MITI media statement here.
Related news article here. |
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MHTC-BMCC Event | insigHT2021 (16-18 November 2021) The BMCC is collaborating with the Malaysia Healthcare Travel Council (MHTC) as SUPPORTING PARTNER at insigHT2021, a three-day virtual conference for the healthcare travel industry happening on 16-18 November 2021.
Join us to collaborate with key regional healthcare travel industry players as we strategise our business into 2022.
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Britcham Singapore Webinar | The UK as an ASEAN Dialogue Partner - ft. H.E. Kara Owen and H.E. Jon Lambe, Ambassador, UK Mission to ASEAN
The UK officially became a Dialogue Partner of the Association of Southeast Asian Nations (ASEAN) on 5 August 2021, leading to closer cooperation between the UK and the region on a range of issues such as trade, investment, climate change, the environment, science and technology, and education.
What will this mean for the UK and businesses? Join us for a dialogue in our Future of Trade series between the British High Commissioner to Singapore, Kara Owen, and UK Ambassador to ASEAN, Jon Lambe.
Date: Wednesday, 10 November 2021 Time: 4.00pm - 5.00pm (SGT/MYT)
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Sterling Member Spotlight | Meet Hanif Hashim, Senior Vice President, Petrofac Malaysia
Petrofac is a leading oilfield services provider to the international oil and gas industry. It has a long heritage in Malaysia and over 20 years of experience delivering engineering and consultancy services to their clients.
Hanif Hashim, Senior Vice President, Petrofac Malaysia talks with pride about Petrofac's block PM304 development, which put the company on the map in Malaysia. He sees Malaysia as an attractive developing nation with constructive local partnerships and a strategic location.
For Hanif, Petrofac's BMCC membership has given them increased visibility of future business opportunities via connections with organisations across various industries, which can promote mutually beneficial relationships.
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1) Budget 2022 Speech and Economic Outlook 2022 Report
The Minister of Finance, YB Senator Tengku Datuk Seri Utama Zafrul bin Tengku Abdul Aziz, presented the Budget 2022 speech before Parliament on Friday, 29 October 2021.
The speech, the publications of the Economic Outlook 2022, Fiscal Outlook and Federal Government Revenue Estimates 2022 and the Federal Government Expenditure Estimates 2022 are available here.
2) MyTravelPass Exemption for the Entry of Foreign Citizens Who Have a Long Term Visit Pass to Malaysia
The Immigration Department of Malaysia released a media statement stating the Government’s decision to allow MyTravelPass Exemption for the entry of foreign citizens who have a long term visit pass to Malaysia, effective 1 November 2021.
The following is a list of Long Term Visit Pass holders that are allowed to enter Malaysia without having to apply through MTP / MyEntry: - Diplomat (Exemption Order) / Dependent / Foreign Maid
- Employment Pass (Category I, II, III) / Dependent / Foreign Maid
- Resident Pass-Talent (RP-T) / Dependent / Foreign Maid
- Professional Visit Pass – Specialist
- Professional Visit Pass
- Permanent Resident (PR) / Spouse to PR / Child to PR
- Long Term Pass (Husband / Wife / Child) to a Citizen
- Senior Citizen Pass
- Widow / Widower Pass to a Citizen
- Student / Dependent / Escort Pass
- Malaysia Pass My Second Home (MM2H) / Dependent / Foreign Maid
- Resident Pass
- Temporary Working Visit Pass (PLKS)
- Foreign Maid (PRA)
Media Statement (Unofficial English version**) here.
3) Launch of National Trade Blueprint
Prime Minister Dato' Sri Ismail Sabri bin Yaakob has launched the National Trade Blueprint or NTBp, aimed at increasing Malaysia’s trade competitiveness through improved business ecosystem.
The Prime Minister said that the Blueprint outlines a 5-year (2021-2025) development strategy and initiatives to enhance Malaysia’s trade competitiveness, specifically in the exports of merchandise. The Blueprint aims to position Malaysia as a dynamic and pre-eminent trading nation through sustainable export development.
Launch media release here.
NTBp Executive Summary here.
4) Trade Performance for September 2021 and the Period of January-September 2021
Malaysia’s trade continued its stellar performance in September 2021, with a new high for trade, exports and trade surplus monthly value. Trade expanded by 25.5% to RM195.54 billion compared to September 2020, the eighth consecutive month of double-digit growth since February 2021.
Exports of manufactured goods in September 2021 reached their highest monthly value at RM94.86 billion or 85.6% of total exports, growing by 21.6% y-o-y. Petroleum products, manufactures of metal, E&E products, chemicals and chemical products, palm oil-based manufactured products, other manufactures especially solid-state storage devices (SSD) as well as iron and steel products registered more than RM1 billion expansion in exports respectively.
MITI media statement here.
Infographic for Malaysia's Trade Performance September 2021 here.
Infographic for Malaysia's Trade Performance January-September 2021 here.
** Unofficial English translation by the BMCC in collaboration with AmCham. |
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Deloitte | Deloitte TaxMax - The 47th series
This year's 47th TaxMax series, themed "Building resilience for tomorrow" will see experts provide an in-depth analysis of Budget 2022 focusing on the 3Rs: Recovery, Resilience, and Reformation, as well as discuss how we can bounce back and thrive post-pandemic. Expect insights into the latest tax updates, its impact, and important measures needed for today's rapidly changing landscape.
Date & Time (MYT): Tuesday, 23 November 2021 (2.00pm - 5.00pm) Wednesday, 24 November 2021 (8.30am - 5.30pm)
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EY | Malaysia Budget 2022 Webinar In this year’s EY Malaysia Budget 2022 webinar, EY leaders will provide insights into the key Budget 2022 tax proposals and measures, their impact on Malaysian businesses and how business owners can seize opportunities for growth. YBhg. Datuk Johan Mahmood Merican, Director of the National Budget Office, will be joining us as the guest speaker to discuss the outlook for Budget 2022.
Date: Friday, 12 November 2021 Time: 9.30am - 12.30pm (MYT)
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Invest Selangor | Selangor International Business Summit 2021 (SIBS 2021)
Registration is Now Open!
Come and re-energise your business with fresh perspectives from the industry professionals and explore innovations at SIBS2021 this 18-21 November 2021!
Register your visit here. |
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Come to Marlborough College Malaysia’s Open Morning For an international education that gives children a passport to a global future, come and see us. We are a fully coeducational, independent British boarding and day for children aged 3 to 18 years old. With outstanding academic results, the College is proud to be in the top 15 schools in SE Asia (Spear's Schools Index 2021).. Coupled with international award-winning pastoral care, and set within a 90-acre purpose-built site, MCM provides opportunities for your child to flourish. "Asia's only authentic British Boarding School" ─ Singapore Tatler - In the top 2% globally for IB
- UK National Curriculum, IGCSE & IB Diploma
- Full co-curricular programme within the school day
- Lifelong membership of the Old Marlburian worldwide network
Date: Saturday, 13 November 2021 Time: 8.30am (MYT) |
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Direct English | Business English for Working Adults and Professionals
Our Business English (Direct English, UK) course is tailored specifically for working adults and professionals as well as clients from the corporate sectors. The course is designed to polish and enhance the Business English and communication skills of the learners to enable them to use Business English more competently and professionally in their work environment. The course will also enable learners to build their confidence in carrying out their important work or business functions.
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Mint Communications | 16th Private International School Fair
The Private & International School Fair is back in Kuala Lumpur! Happening in two weeks' time on 13 and 14 November 2021, the fair is an opportunity for you to meet school representatives from international schools, UK universities or explore other learning opportunities! The fair will take place from 11am to 6pm at the Mid Valley Exhibition Centre. Admission is free, and for fully vaccinated visitors only. See you there!
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Manpower Group | Talent Market Snapshot Telco Industry ─ Malaysia
The COVID-19 pandemic-induced lockdowns and related global recession of 2021 have created a highly uncertain outlook for the labour market and accelerated the arrival of the future of work.
In Malaysia, telecommunications technology is developing at such a fast rate that Telcos are constantly reviewing their business models and assessing their required skills. The percentage of the mobile subscriber base is saturated with 137% of the population being cellular subscribers. Will deployment of 5G will be a catalyst to Malaysia's productivity and economic growth especially in the telco industry? Quick access to details here. |
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JLL | Asia Pacific Capital Tracker 3Q2021
Why is investor interest in stable assets intensifying? With Asia Pacific real estate investments reaching US$125 billion ─ just 6% below 2019 levels ─ we maintain our expectations that investments volume will rise 15-20% by the end of the year. Portfolio reallocations to income-resillient assets intensify with investors buying airport assets, self-storage, residential and data centres. |
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Tay & Partners | Schrems II and the GDPR – Where Does Malaysia Stand? The recent judgment of the Court of Justice of the European Union (CJEU) in C-311/18 (Schrems II) restates the far-reaching impact of the EU General Data Protection Regulation (“GDPR”) not only in the European Union, but also to the rest of the world.
The key takeaway from Schrems II is that the protection of personal data under GDPR must travel with the data anywhere it goes in the world. In Schrems II, it was found that the laws in the United States which enable the US authorities to access and use personal data from the EU on grounds of national security, do not provide for adequate controls to protect the rights of the EU data subjects. Data subjects also lack actionable judicial redress or any effective remedy in the US, which is contrary to Article 47 of the EU Charter on Fundamental Rights. While the CJEU acknowledged that standard contractual clauses (SCCs) may be valid transfer tools, assessments must still be made on a case-by-case basis on the adequacy of data protection in a third country.
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British Malaysian Chamber of Commerce Berhad 201801018075 (1280091-P) E04C0, 4th Floor East Block, Wisma Golden Eagle Realty, 142-B Jalan Ampang, 50450 Kuala Lumpur Copyright © BMCC 2021 |
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