BMCC Newsletter Issue #315 - 15 August 2022
Dear [givenName,fallback=Subscriber], |
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UK Strengthen Ties with Southeast Asia with Agreement to Scale-Up Security and Development Links |
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UK Minister for Asia, Amanda Milling and Association of Southeast Asian Nations (ASEAN) foreign ministers agreed on a Plan of Action for 2022 to 2026 during the first UK-ASEAN ministerial meeting in Cambodia. She announced the milestone agreement on a range of issues with influential countries in Southeast Asia.
The new Plan of Action will strengthen cooperation in various fields including trade and investment, defence and security, climate change, education for young women, digital, and science and technology. This close tie between UK and ASEAN will see a new supply of green jobs, reinforce security cooperation, promote tech and science partnerships, and safeguard key pillars of international law such as the UN Convention on the Law of the Sea.
Under the agreement, the UK will ramp-up development and security links in Southeast Asia with the opening of a regional British International Investment office in Singapore later this year to invest £500 million in the Indo-Pacific. The UK is also providing training for ASEAN countries on security issues and maritime law, including from the Royal Navy.
The UK also recently signed a memorandum of understanding (MoU) with the Asian Development Bank to support ASEAN states to invest in green infrastructure through a £107 million trust fund to support the ASEAN Catalytic Green Finance Facility, putting the sustainability agenda at the forefront of its commitments. |
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| Event | BMCC Networking Drinks - Meet Our New Chairman |
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Meet and network with our new Chairman, Mark Arthun, board members and fellow members at the BMCC Networking Drinks at JW Firehouse, JW Marriott Hotel Kuala Lumpur on 25 August 2022 from 7:00pm to 9.00pm.
Mark, who is Managing Director and Site Leader of Smith & Nephew Operations Sdn Bhd, was appointed as the Chair of the BMCC in June 2022. Mark hopes to meet with fellow BMCC Members to engage and exchange views as the Chamber strives to create the best value propositions for our members.
Don't miss out on this exclusive event for BMCC Members. Each member company is entitled to one complimentary invite. For additional tickets, please email karendass@bmcc.org.my.
RSVP now and we look forward to seeing you there! |
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| Webinar and Virtual Trade Mission | Opportunities in the Healthcare and Life Sciences Sector in Malaysia |
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BMCC is pleased to collaborate with Kent County Council, UK to host a webinar on "Opportunities in the Healthcare and Life Sciences Sector in Malaysia". Join us to learn more about this sector in Malaysia.
Tune in and listen to our esteemed speakers: • Overview of the Healthcare and Life Sciences Sector in Malaysia - Bhavna Vishwakarma, Trade Manager - Healthcare, British High Commission Department for International Trade (DIT) • Malaysian Medical Device Regulatory System - Norlela Hatta Antah, Senior Principal Assistant Director Policy, International Affairs and Industry Facilitation Division, Medical Device Authority, Ministry of Health Malaysia • Healthcare Distribution in Malaysia - Alan Chin, Deputy General Manager, Business Development, Logistics & Distribution Division, Pharmaniaga Berhad
In addition to a vibrant and informative webinar, we are calling for UK companies from Kent and Medway, East Sussex and Essex wishing to enter this market to join a virtual trade mission. More information on the virtual trade mission will be shared during the webinar.
Registration for webinar is complimentary and all are welcome. For more information on webinar and virtual trade mission, email todarshini@bmcc.org.my.
Date: Tuesday, 6 September 2022 Time: 9:00am – 10:00am (UK time) Platform: (Online) Zoom |
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| Event | Malaysia Climate Action Week is Back: Calling for Partners |
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Themed "A.C.T. Now! Adapt, Collaborate and Transcend", this year's week-long programme is set to be bigger with more activities to inspire more members to take action and work together in overcoming the impacts of climate change by getting involved in more hands-on experiences. The BMCC hopes to get more stakeholders involved in addressing issues related to climate change.
We are calling out to all BMCC members to join us as our Climate Action Partners and to participate in this programme to create a positive impact by businesses across industries and participation from the wider society.
BMCC has lined up a series of exciting events and activities throughout the five-day programme to reach out to a wider group of people. There are conference, roundtable discussion and sustainability workshop targeted at corporates, Green competition focused on students as well as film screening-cum-fundraising, eco-site visit, nocturnal forest walk and tree planting activities for the public.
Last year's inaugural Malaysia Climate Action Week also saw the launch of the BMCC Climate Action Pledge, with 29 organisations signed up to either take initial steps on climate action or to support other organisations through their knowledge and solutions. The Chamber hopes that more organisations will sign the Pledge this year and also to inspire existing Pledge signatories to further their climate commitments.
Download a Partnership Kit here.
Find out more about the 2021 Malaysia Climate Action Week here. |
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| BMCC Member Engagement | Chairman's Dinner |
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BMCC Chairman Mark Arthun hosted a group of Sterling Members of the Chamber to an exclusive dinner at the Four Seasons Hotel Kuala Lumpur. The Chamber thanks Thomas Mathew, Group CEO of Talent Corporation Malaysia Berhad for joining us as our special guest. The dinner provided an opportunity for everyone to network and engage in business discussion informally. |
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| BMCC Member Engagement I Courtesy Visit to CTOS Office |
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The BMCC executive team paid a courtesy visit to CTOS office in Bangsar South, Kuala Lumpur.
The delegation was led by our Chief Executive Officer, Jennifer Lopez, Membership and Strategic Partnerships Senior Manager, Roufizah Razali and Senior Manager Trade Services, Phoebe Nonis. We were warmly greeted by Group CEO of CTOS Digital, Erick Hamburger, CEO of CTOS Basis, Francis Chan and his team, General Manager of Marketing, Corporate Communications and Investor Relations of CTOS Digital, Norine Erica MJ and General Manager of CTOS Basis, Puven Sangaran. BMCC took the opportunity to better understand the company’s vision, as well as shared the role of the Chamber to provide support for CTOS in realising their ambitions.
CTOS Digital Berhad is the holding company of ASEAN’s leading credit reporting agencies, namely CTOS in Malaysia. Founded in 2014, the Group offers a broad suite of innovative digital products and credit risk management solutions and services which gives it a solid platform to thrive not just in credit reporting, but also in digital credit decisioning across Southeast Asia. |
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| BMCC Member Engagement I Knight Frank Marks 20th Anniversary in Malaysia |
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Congratulations to Knight Frank for achieving their 20-year milestone, celebrating 2 decades of growth in Malaysia.
BMCC Chief Executive Officer, Jennifer Lopez, and Membership and Strategic Partnerships Senior Manager, Roufizah Razali caught up with Group Executive Chairman of Knight Frank, Eric Ooi and Group Managing Director of Knight Frank, Sarkunan Subramaniam during their anniversary dinner to express our well wishes.
We would like to convey our appreciation to Knight Frank for extending their anniversary dinner invitation to BMCC team to join the celebration of their astonishing accomplishments over the years. |
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Meet Tan Sri Dr Lim Wee Chai, the Executive Chairman of Top Glove Corporation Berhad.
Top Glove was established in 1991 in Malaysia with 1 factory and 1 glove production line. Since then, the company has grown into the world’s largest manufacturer of gloves commanding 26% of the global market share for rubber gloves.
Top Glove's headquarter is in Malaysia, with manufacturing operations in Malaysia, Thailand, Vietnam and China, and marketing offices in these countries as well as in the US, Germany and Brazil. Currently, the company has about 50 factories with 812 advanced production lines and a production capacity of 100 billion gloves per year; serving a growing customer base of over 2,000 across 195 countries worldwide.
Its comprehensive product range includes gloves and non-glove segment comprising condoms, face masks, dental dams, exercise bands and household products to fulfil demand in the healthcare and non-healthcare segments.
In this interview, Tan Sri Lim shared that the company's financial year 2021 (FY2021) was a landmark year because it achieved an all-time high sales revenue of RM16.4 billion, which was more than double of the sales revenue recorded in financial year 2020. In FY2021, Top Glove also delivered RM7.8 billion in profit and the figure exceeded its total profit for the past 30 years. |
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| Malaysia on Track to Achieve GDP Growth of 5.3% to 6.3% |
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Minister of Finance, Tengku Datuk Seri Utama Zafrul Abdul Aziz announced Malaysia’s gross domestic product (GDP) is projected to grow between 5.3% and 6.3% in 2022, having achieved strong GDP growth in the first quarter of this year at 5%. He also notes that the unemployment rate dipped to 3.9% in both May and June 2022, signifying a declining trend for 14 consecutive months. Moreover, trade performance has remained resilient, maintaining its momentum with double-digit growth for 16 consecutive months since February 2021.
While the country will see positive figures in the second quarter, Tengku Zafrul states that the slowdown in growth globally following the higher-than-expected inflation worldwide will remain an obstacle. However, the government has managed to cushion its impact via subsidies and price caps on key goods. |
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| InvestKL Corporation | Breaking New Ground: Sustainability in Malaysia |
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InvestKL Corporation (InvestKL) collaborated with the Massachusetts Institute of Technology (MIT) Technology Review Insights to develop a sustainability-themed report, "Breaking New Ground: Sustainability in Malaysia".
Launched recently, the report contains inputs from sustainability experts and senior executives from leading global companies in Greater Kuala Lumpur. It highlights how these companies drive sustainability values by incorporating environmental, social and governance (ESG) principles into their core businesses, and how their local experience could be applied globally.
The launch was attended by Dato' Sri Norazman Ayob, Deputy Secretary General (Industry) of the Ministry of International Trade and Industry, Datuk Seri Michael Yam, Chairman of InvestKL and Muhammad Azmi Zulkifli, Chief Executive Officer of InvestKL.
Muhammad Azmi said, "Malaysia is an exemplary location and well-positioned to drive ESG and sustainable initiatives, providing greening opportunities and leadership to catalyse Greater KL as a sustainable hub for innovation, digital and technology." |
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| Ipsos | Malaysians 'Tighten Their Belts' as Inflation Eats into Income |
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A study by Ipsos reveals that Malaysians are worried about inflation and poverty, which have eclipsed the pandemic. They find it difficult to manage financially, or feel that they are just getting by.
Malaysians expect further increases in interest rates as inflation remains a concern. A majority of the population does not expect to see any increase in disposable income over the next year. Many of them will cut their spending on socialising and holidays due to household budget tightening. They are prepared to delay larger purchases than to cut the budget for necessities. |
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| Tenby Educare | Enjoy Exclusive Subsidies and Zero Deposit for Enrolment |
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Amazing Learning. Global Success.
Make Tenby Schools Setia Eco Park your School of Choice today and enjoy Exclusive Subsidies and Zero Deposit when you join us this August 2022*!
Through our character building programmes and our International Learning Opportunities for Students, we nurture our students not just academically but holistically too by developing the life skills they need to thrive regardless of what the future may be!
*Terms & conditions apply. |
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| University of Reading | An Affordable UK Education in Malaysia |
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Get a career advantage by studying with four world-leading schools at our Malaysia campus. Check out our world-leading programmes that are designed to give you a career head start here.
Apply now for our September 2022 intake!
For more information, kindly contact: Nishen +6016-218 4012 Kristinah +6016-206 4012 |
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| International Property Settlements | Investing in London in 2022 (featuring White City Living) |
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What do you need to know before investing in a property in London? Why do you need to set up a UK limited company for your property purchase in London? Join our webinar "Investing in London in 2022 (featuring White City Living)" to learn more.
Register here for this exclusive webinar.
Date: Wednesday, 17 August 2022 Time: 4:00pm Platform: Online
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BigPay adds UK, Europe for international remittance service -The Malaysian Reserve |
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Commonwealth Games chief looks to bright, ‘edgy’ future -Malay Mail |
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UK retailer Next lifts outlook on strong clothing demand -The Edge |
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Stay up-to-date with the Chamber’s latest news and activities through this newsletter or follow us on our social media platforms. |
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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 2022
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