Issue #282 - 13 December 2021 Dear Subscriber, |
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Key Issues Raised at Virtual Dialogue between BMCC Members and Minister of Finance
Following Malaysia’s Budget 2022 announcement on 29 October and the month-long parliamentary debate, the BMCC organised a virtual dialogue with the Minister of Finance, Yang Berhormat Senator Tengku Datuk Seri Utama Zafrul bin Tengku Abdul Aziz on 2 December 2021. Sterling members of the BMCC were given the opportunity to provide their feedback on the 2022 Budget and raise key issues that might be of concern to UK investors and businesses here in Malaysia.
YB Senator Tengku Zafrul, in his opening remarks, said, “We are blessed that Malaysia and UK continue to have strong bilateral trade relations facilitated by the BMCC in advancing trade efforts between both nations. In 2020, the UK was Malaysia’s 18th largest trading partner globally despite the pandemic and recorded an increase of 1.4% in trade volume and from January to October 2021, trade volume increased to 2.5% to RM14 billion compared to the same period last year.” |
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Among the key issues raised were the lack of clarity on the implementation of the Foreign-Sourced Income Tax and the one-off Prosperity Tax announced for next year. Representatives from the education sector also requested consideration by the ministry on the extension of tax incentives under pioneer status for new investments and tax exemptions for private international schools, as enrolment of students over the last two years has suffered tremendously. In addition, issues on talent development in the country through better public-private collaborations were also discussed.
The Chamber would like to convey our appreciation to YB Senator Tengku Zafrul and his team at the Ministry of Finance for the opportunity to engage and conduct this dialogue where feedback from the industry and businesses could be heard.
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BMCC Team Visit to Leonardo Malaysia Office
Last week, BMCC CEO Jennifer Lopez and BMCC Senior Manager, Membership and Strategic Partnerships Roufizah Razali met up with senior executives of Leonardo at their office for a catch-up visit.
Leonardo is a multinational aerospace, defence and security company. Most of their fleet is being used for business charter service, government agency, and royal armed forces as well as oil and gas service providers. The company has a training academy in Kuala Lumpur and offers a range of technical, logistic and training services on the AW109 Power and AW139 helicopters for the Eastern markets. Leonardo has plans to expand the range of courses to include the AW169 and AW189 products.
In October 2021, Leonardo, in partnership with the AAT (Advanced Air Traffic Systems) and the Civil Aviation Authority Malaysia (CAAM) joint venture celebrated the practical completion of the new air traffic control centre in Kuala Lumpur. This milestone was announced at the World ATM Congress event held on 26-28 October 2021 in Madrid.
This achievement is all the more remarkable as it was met despite the harsh conditions imposed by the Covid-19 pandemic, reflecting the expertise of Leonardo and AAT in the Air Traffic Control (ATC) domain.
The BMCC team welcomed the opportunity to hear about the latest updates from our valued member and share about the services and support offered by the Chamber.
Representing Leonardo and the BMCC in the photo above: Lorenzo Pariani (Head of Region South East Asia of Leonardo), Vincenzo Alaimo (General Manager of Leonardo), Jennifer Lopez (Chief Executive Officer – BMCC), Roufizah Razali (Senior Manager, Membership and Strategic Partnerships – BMCC), Nasir Ramly (Finance Director of Leonardo). |
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| Dialogue Session between Minister of Home Affairs and International Chambers |
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The Minister of Home Affairs hosted a dialogue session with the international chambers, including the BMCC, at the Ritz-Charlton Hotel on 9 December 2021. This engagement session provided an avenue for international chambers to provide feedback from the international business community on the policy for expatriates which is currently under review, as announced by the Minister recently.
Jennifer Lopez, CEO of BMCC, highlighted the need for international talent in Malaysia as a long-term investment to develop the local talents here, as well as an opportunity to build a community of future business leaders who can be ambassadors to promote Malaysia as a preferred investment destination in future. She also advocated for the Government to make ease of doing business in Malaysia a priority, especially on international travels and relaxation of quarantine requirements, for both expatriates and international students, to support the economic recovery of various sectors, including the private education sector. |
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Sterling Member Spotlight | Meet Soo Hoo Khoon Yean, Managing Partner, PricewaterhouseCoopers
For Soo Hoo Khoon Yean, Managing Partner at PwC, the key criterion for achieving business success is to focus on the talent agenda. He considers Malaysian talent adaptable, educated and highly sought after and is extremely proud of his people. He feels it is crucial to bring out the best in them and ensure they are engaged with the firm's purpose.
With Malaysia's business-friendly environment, good infrastructure and highly trained workforce, Soo Hoo is hopeful and optimistic about the future of business in Malaysia and mentions a collaboration in the works within the PwC network to create more than 1,000 jobs in the country.
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| Charterhouse Malaysia | OPEN DAY! |
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Charterhouse Malaysia is one of the original 7 British Public schools.
Admissions are now open for A Level and IGCSE students. Scholarships available for A Levels, apply now until 31st January 2022.
Come and join their upcoming open day on Saturday, 15th January 2022. Meet their Leadership Team and discuss how our programme really will make your children. Future Ready, and enjoy a tour with the founding students.
For more information:
Phone +603-2702 5270 / 012-225 8844 WhatsApp +6016-216 3471
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| Tenby School | Ask us about our Covid Buster Programme |
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For secondary students to find out how your child can enjoy uninterrupted learning today! Subsidies for new joiners! At Tenby Schools, our secondary students receive excellent academic and pastoral support whether full online learning continues, face-to-face classes resume, or via our hybrid learning platform when the campus finally re-opens. Learning never stops. Let your child experience learning that is truly Amazing.
*T&Cs apply. |
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| International Schools Partnership | Fast track to a UK Degree with NCUK International Foundation Year programme |
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Looking to start a foundation course after SPM? Join NCUK International Foundation Year programme April 2022 intake. Completing the International Foundation Year programme at Tenby Schools Setia Eco Park or Asia Pacific Schools guarantees* you access to NCUK Universities in the UK, Australia, New Zealand, Malaysia, US or Canada.
Date: Tuesday, 21 December 2021 Time: 4.30pm - 6.00pm (MYT)
*T&Cs apply. |
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| International Schools Partnership | Your child's future begins with the choices you make today |
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At Asia Pacific Schools, we recognise just how important this choice is. We nurture our students both academically and holistically by developing the life skills they need to thrive regardless of what the future may be! "If I were to explain a Good Struggle, I will say it's when my sons are being encouraged to continue getting better and achieving at a higher level." - Mr Yujiro, Parent Join us in January 2022 and receive an IT support voucher worth as much as RM1,000* PLUS Term Support during these difficult times. Find out how your child can benefit from a Good Struggle today! *T&Cs apply. |
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| Direct English | Language for Life from London (LLL) |
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Enhance your English speaking or conversational skills with our Language for Life from London (LLL) programme - Brought to you "Live from London, UK". The Conversational English classes will enable you to become a proficient English speaker in the shortest time possible.
Native English teachers from the UK are here to help you achieve that.
For more information: +603 20224128 / 4138 WhatsApp +6017-993 4128
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| The Covid-19 pandemic has forced millions out of their offices for almost two years and companies have been implementing working-from-home (WFH) or remote working arrangements to achieve continuity of service and to maintain productivity while safeguarding employees’ health and safety. WFH arrangement offers many benefits and flexibility, but who is responsible and what is the extent of liability when an employee is involved in an accident while working remotely? |
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| A total of 22,774,778 individuals or 97.3 per cent of the adult population in Malaysia have been fully vaccinated. |
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| Tengku Zafrul also expressed his hope that all businesses, especially micro, small and medium enterprises (MSME) would rise again to drive the country's economic growth. |
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| The decision to increase the five-stage public health risk assessment from level three to four comes after a further 1,239 confirmed cases of the variant were recorded on Sunday. |
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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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