BMCC Newsletter Issue #342 - 27 February 2023 Dear Subscriber, |
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Malaysia's Budget 2023 - Towards Malaysia MADANI!
MADANI is an acronym for a policy that embraces six core values – keMampanan (Sustainability), KesejAhteraan (Prosperity), Daya Cipta (Innovation), hormAt (Respect), keyakiNan (Trust), and Ihsan (Compassion). The MADANI concept introduced by Malaysia’s 10th Prime Minister and Finance Minister, The Right Honourable Datuk Seri Anwar Ibrahim, is to ensure an equitable economy as well as good governance where leakages are prevented and public funds are prudently and justifiably spent. Last Friday, the Prime Minister re-tabled the National Budget 2023 with the theme "Membangun Malaysia MADANI" (Developing Malaysia MADANI), focusing on three key pillars: - Inclusive and sustainable economic growth
- Restoring confidence in institutions and governance
- Combating inequality through social justice
Budget 2023 focusses on addressing the high cost of living, further strengthening the social safety net, and enhancing the micro, small, and medium enterprises (MSMEs) eco-system. The government will also examine ways and means to reduce market disruptions as well as streamline business processes through the adoption of high technology and digitalisation.
*For more information on Budget 2023, check out our members' updates below. |
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BMCC's views of Budget 2023 Comments from the CEO
The BMCC congratulates the Right Honourable Dato’ Sri Anwar Ibrahim on the tabling of Malaysia’s 2023 budget in Parliament earlier today.
We welcome the Government’s approach towards the budget, along with the practical and transparent initiatives that will aid Malaysia’s economic growth, that is projected to be 4.5%, as stated by the Prime Minister. This will continue to position Malaysia to be an attractive trade and investment destination, especially to increase the interest of the U.K. businesses and position Malaysia as access to ASEAN.
The BMCC fully supports the Government’s commitments towards sustainability, an area which the Chamber is consistently advocating for. With the Central Bank providing up to RM2 billion to support green technology startups and SMEs in adopting low carbon practices, and the improvement of the Green Technology Financing Scheme (GTFS) with the government’s guarantee of up to RM3 billion until 2025, we hope to see more businesses in Malaysia adopting sustainable practices.
The government, through Khazanah, will also provide RM150 million to stimulate nature-based projects and reforestation efforts to support the carbon market.
The BMCC is very appreciative of the government in taking in feedback from investors - to ease business operations in Malaysia. We hope the government puts urgency and will act swiftly on their commitment to improve processes and reduce bureaucracy especially by incentivising local authorities to increase their efficiency.
The Government’s commitment to enhance public-private collaborations to accelerate economic growth and attract investments to create more jobs for Malaysians is also an area the Chamber continuously advocated for. The Chamber will support the government’s efforts through programmes such as the National Dual Training Scheme and Academy in Factory programme.
Jennifer Lopez CEO of British Malaysian Chamber of Commerce |
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| Browse through our members' insight into the 2023 National Budget |
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| Malaysia Economic Outlook & Post-Budget 2023 Webinar |
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Gain first hand insights and analysis into what industry leaders have to say about Malaysia's 2023 Budget and Economic Outlook.
Webinar Details:
Date: 2 March 2023, Thursday Time: 2.00 pm – 4.00 pm (MYT) Platform: Zoom
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| InterChamber Ladies Sundowner |
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The InterChamber Ladies Sundowner is an event by the Malaysian German Chamber of Commerce. Join in the celebration for an evening of networking and drinks with ladies across the Chamber's networks.
Seats are limited, so register quickly!
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| BMCC Business Excellence Awards Nominations |
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Browse through the nominations list below:
Nominations will close on 23 April 2023, 11.59 pm (MYT). |
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Join our Business Excellence Awards and 60th Anniversary Gala Night as a sponsor!
As a sponsor, your organisation will enjoy branding opportunities across our platforms, networks, and other added privileges. Click here to learn more about our sponsorship packages.
For enquiries, please email our team: |
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| BritCham Indonesia | Trade Clinic |
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Here's your chance to gain insights into the Indonesian market and ways to tap into it.
Together with BritCham Indonesia, we invite you to participate in this trade clinic with Chris Wren, CEO of BritCham Indonesia.
Event Details: - Date: 9 March 2023, Thursday
- Time: 10.00 am – 4.00 pm (MYT)
- Venue: BMCC’s Executive Office
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| BritCham Vietnam | Vietnam Trade Event |
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The BritCham Vietnam is organising a trade event from 16 – 17 March 2023 at Ho Chi Minh City, Vietnam. This is an opportunity for you to witness Vietnam’s emerging market and build connections with key industry leaders.
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| British Chambers of Commerce | Global Annual Conference 2023 |
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The British Chambers of Commerce's Global Annual Conference 2023 is happening on 17 May 2023 at QEII Centre London. This full-day conference will bring together business leaders across the globe, to discuss opportunities and plans for future growth.
This is an amazing opportunity to engage with and check out exhibitions by the global Chamber Networks and British businesses.
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| Members Engagement | BP Malaysia |
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We recently caught up with BP Malaysia’s team to discuss their latest development strategies and corporate priorities, and potential strategic partnerships for the near future.
Thank you Luke Joseph, Head of Country and Krystabel Lim, Communications and Advocacy Manager of BP Malaysia, for giving Jennifer Lopez, CEO and Roufizah Razali, Membership and Strategic Partnership Senior Manager of BMCC, a warm welcome. |
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| Members Engagement | Lancaster University |
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Thank you Prof. Simon Guy, Pro-Vice-Chancellor Global, and Prof. Andrew Abbott, Academic Dean from Lancaster University for dropping by the BMCC's Executive Office. It was an afternoon well spent conversing on talent strategy and what makes Malaysia a dynamic talent hub. |
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| BMCC Government Dialogue Series with TalentCorp CEO, Thomas Mathew |
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With the support of TalentCorp, we organised the BMCC in Conversation with Thomas Mathew, Group CEO of TalentCorp Group of Companies on 22 February 2023. The event, which was part of the BMCC’s Government Dialogue Series, unfolded into an exclusive and engaging conversation with Thomas who shared about the talent landscape and his vision to enhance the development and availability of talent in Malaysia.
The 2-hour event moderated by Jennifer Lopez, CEO of BMCC, saw 50 attendees. The event ended with a short networking session, an opportunity for many to speak to Thomas and his senior officials from TalentCorp and MyXpats. |
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| Enroute to Competitive Neutrality Webinar |
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The BMCC together with the British High Commission Kuala Lumpur and IDEAS Malaysia, successfully held the Enroute to Competitive Neutrality webinar on 23 February. It is imperative that we create and promote a healthy competitive landscape for businesses in Malaysia. A fair playing ground and friendly business environment is essential for investment and growth.
The webinar saw the participation of UK companies who were intrigued by Malaysia’s current competitive landscape and who are keen to expand their business to Malaysia. We hope the webinar gave you the confidence and information to make the move.
Kudos, Bilateral Diplomacy team from the British High Commission KL for taking the initiative to commission IDEAS for this study, and thank you Nadarashnaraj Sargunaraj, Partner at Zaid Ibrahim & Co., for sharing your views at this webinar. |
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Meet Lawrence Yeap, Malaysia Country Leader, and Khedzair Osman, Markets and Clients – Malaysia Leader, Arup Jururunding Sdn Bhd.
Arup is a global collective of designers, consultants, and experts dedicated to sustainable development and to the use of imagination, technology, and rigour to shape a better world. Arup’s presence in Malaysia dates back to the 1960s when they were involved in shaping some of the country’s early landmarks, beginning with the redevelopment of the Kuala Lumpur General Hospital and later, Penang's KOMTAR. For the first time, we interviewed a duo, who contributed to Arup’s growth in Malaysia and its long-standing membership with BMCC.
Click here to read their interview as they highlight their proudest moments in doing business in Malaysia and in bringing the best of innovation and digitalisation to the country. |
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On-Demand eLearning with BSI
On-demand eLearning training from BSI can help you embed skills and nurture talent within your organisation, wherever and whenever you and your team need it. Available 24/7, on-demand eLearning, video, and micro-learning courses offer complete flexibility. From individuals looking to widen their knowledge to employers seeking to educate their teams cost-effectively, BSI's On-Demand eLearning courses are suited to everyone.
Learn more by watching this video or find out more about the training we offer here. |
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ESG Reporting
Sustainability Reporting is an organisation’s practice of reporting publicly on its economic, environmental and social impacts, and hence its contributions towards the goal of sustainable development.
BSI can partner with you in your ESG reporting journey. To understand the Sustainability Reporting process as per the Global Reporting Initiative (GRI) Standards, download this brochure or visit this page. |
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| Malaysia Airlines | Book via MHbiz PRO this MATF with Additional 5% off and stand a chance to win a trip to Bali! |
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It's time to realise your travel dreams with the Malaysia Airlines Travel Fair! Enjoy additional 5% off on promo fares and up to 10% on non-promo fares booked via MHbiz PRO, PLUS stand a chance to win flight tickets for 2 to Bali or Phuket!
Plan out your dates and use MATF as your launchpad to ready, set, jet off on your dream holiday!
Sales Period: Now until 8 Mar 2023 Travel Period: Now until 30 Nov 2023
For further information, visit their website. |
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| TraTax | 2023 Budget: Tax Webinar Series |
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15th March 2023 (3.00 pm to 4.30 pm)
Detailed analysis of Finance Bill: Proposed amendments to Income Tax Act, RPGT Act, Stamp Act, Sales Tax Act, Service Tax Act, etc.
It’s a complimentary session, fully virtual and require prior registration.
Timing and speakers are subject to change. The admission of any delegate and the allocation of seats is subject to the final decision of the organisers.
In the event, if you have any questions do not hesitate to contact us at corp@tratax.my.
For 15 March session, please click here to register. |
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| CMI | Embracing Equity In Management & Leadership |
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This year's International Women's Day theme is 'Embrace Equity', and CMI Asia-Pacific is supporting this theme with a digital event exploring gender equality and equity from a management and leadership in the workplace perspective. Through the digital event we will showcase examples of good practice in the workplace, and explore forward looking examples of what managers and leaders across Asia can do to embrace equity and forge positive change.
For more info and to register for the complimentary webinar, click here. |
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| Kuala Lumpur Convention Centre | Giving Back To The Community |
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The Centre’s Team Raises Money To Help The Stepping Stone Living Centre. Muhammad Vickneswaran, the Kuala Lumpur Convention Centre’s (The Centre’s) Director of Human Resources presented a cheque to Pastor Johnson Aarons Rajasher, Founder of Stepping Stone Living Centre, after the Centre’s team members, raised RM6,500. The funds were used to buy new clothes and educational supplies for the children and old folks at the living centre.
The donation drive was organised by the Centre’s Human Resources department and the funds were raised through melamine tableware sales. This donation builds on the Centre’s earlier assistance to the Stepping Stone Living Centre in December last year, where the organisation donated RM2,500 to help them rebuild their house which was destroyed by a landslide in 2021. |
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According to Muhammad, “As the ‘People’s Centre’ and Malaysia’s premier purpose-built venue, we are a socially responsible organisation that always aims to give back to Malaysia and the community within which we are based. As such, these donation drives for Stepping Stone Living Centre fit perfectly under the ‘Care & Giving’ pillar of our SDGs (Sustainable Development Goals) Legacy Programme. We hope our contributions help the residents; it is such a worthy cause.”
Elaborating on Muhammad’s comments, Pastor Johnson, shared, “We commend the efforts of the Centre and we deeply appreciate their donations. Currently, we have around 60 orphans, single mothers and elderly from the underprivileged community at the Living Centre, and this contribution will help us provide clothes and educational supplies for them.”
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Highlights of revised Budget 2023. -The Edge Malaysia |
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Tax incentives for global firms that relocate to Malaysia. -New Straits Times |
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Budget 2023 supports Malaysia's interests on world stage, says Wisma Putra. -The Star |
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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 2023
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