BMCC Newsletter Issue #442 - (20 January 2025) |
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Highlights of the Week: - Malaysian Prime Minister's Visits to the United Kingdom
- Join our upcoming event: A Fireside Chat with the Head of the National AI Office
- MDEC accelerates digital transformation for Malaysian SMEs
- Check out exciting events by our members and stakeholders: including AICPA & CIMA MBRS Workshop, Charterhouse's Charity Music Concert, EIC Connect Energy Borneo 2025, TraTax's Flagship Tax Conference, and BEATLEMANIA!
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Malaysia-United Kingdom's Strengthened Ties Malaysia Prime Minister’s Visit to the UK |
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Dear Subscriber,
Last week, Malaysia’s Prime Minister, The Hon. Dato’ Seri Anwar Ibrahim, embarked on a significant 5-day working visit to the United Kingdom to strengthen bilateral ties and foster economic collaboration. This visit to the UK is the first by The Hon. Dato’ Seri Anwar since becoming Prime Minister. This is also his first visit to a European country as the Prime Minister as Malaysia chairs ASEAN. His arrival in London was warmly received by his counterpart, United Kingdom’s Prime Minister, Sir Keir Starmer. Both leaders discussed matters related to higher education, climate change, renewable energy, agri commodities, and tourism, among others. Discussions also included regional and international issues and exchange views on ASEAN-UK Dialogue Relations. As ASEAN Chair for 2025, The Hon. Dato’ Seri Anwar also highlighted Malaysia’s priorities and ASEAN’s efforts to address regional and global challenges.
This visit yielded impressive outcomes, successfully securing RM11 billion in potential investments across various sectors, including renewable energy and the digital economy. These investments mark a significant step toward deepening economic collaboration between Malaysia and the UK. |
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Roundtable Meeting with the Captains of Industry in the UK A key highlight of the Malaysian Prime Minister's visit was the Roundtable Meeting between the Prime Minister of Malaysia and the Captains of Industry in the UK, held on Thursday, 16 January. Organised by the Ministry of Investment, Trade and Industry (MITI), the Malaysian Investment Development Authority (MIDA), and the Malaysia External Trade Development Corporation (MATRADE), the session served as a strategic platform to enhance business relations and explore investment opportunities between Malaysia and the UK. |
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The BMCC, represented by our Chairman, Mak Joon Nien, Managing Director and CEO of Standard Chartered; and our CEO, Jennifer Lopez, played an active role in supporting this landmark event, by inviting our member companies to participate.
Among the 31 companies and 53 senior leaders in attendance, 17 companies were BMCC members, including Arup, AstraZeneca, BAE System, Informed Solutions, Marlborough College, Nottingham University, OCS Group, Owen Mumford, Ricardo, Rolls Royce SMR, Shell, Standard Chartered, and Synthomer.
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Also joining the Prime Minister’s delegation for the roundtable were 18 Malaysian Government-Linked Companies, of which four are BMCC members: KPJ Healthcare Berhad, Gamuda Berhad, Gamuda Land UK, and Sime Darby Property.
Our members’ active involvement in this roundtable underscores BMCC’s pivotal role in connecting businesses with opportunities and driving Malaysia’s economic aspirations globally.
Accompanying the Prime Minister for the roundtable were the Minister of Investment, Trade and Industry, The Hon. Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz; Minister of Higher Education, The Hon. Dato' Seri Diraja Dr. Zambry Abd Kadir; and Minister of Plantation and Commodities, The Hon. Datuk Seri Johari bin Abdul Ghani. Also present were Treasury General, The Hon. Datuk Johan Mahmood Merican and Bank Negara Governor, Dato' Seri Abdul Rasheed Ghaffour.
We extend our appreciation to all our members who participated in this important discussion. Your engagement plays a crucial role in advancing Malaysia’s global economic agenda, and we appreciate your continued support. |
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Roundtable Meeting Between the Minister of Investment, Trade and Industry, Malaysia and British Companies On Friday, 17 January, the BMCC, Standard Chartered Bank, and UK-ASEAN Business Council (UKABC) jointly hosted an exclusive dialogue with the Minister of Investment, Trade and Industry (MITI), The Hon. Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz with British companies. |
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This high-level session brought together senior leaders from 18 companies, including 10 BMCC members: ACCA, Fluorocarbon, Informed Solutions, London Tea Exchange, Mott Macdonald, OCS (One Complete Solution), OPITO, PwC UK, Standard Chartered Bank, and Trowers & Hamlins. |
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Participants benefited from a unique opportunity to engage directly with the Minister, gaining valuable insights into Malaysia’s investment and trade priorities.
The discussions covered pivotal topics, including digitalisation, energy transition, green technology, talent mobility, and workforce development, aligning with Malaysia’s strategic focus areas. |
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We are proud to have facilitated this joint roundtable discussion, which served as a valuable platform for exchanging ideas and fostering collaboration. Follow-up engagements with senior representatives are already in progress to further strengthen these connections and translate discussions into actionable outcomes. |
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UK-Malaysia Joint Economic and Trade Committee (JETCO) Last Thursday also marked the inaugural UK-Malaysia ministerial-led Joint Economic and Trade Committee (JETCO) meeting. This meeting signifies the deepening trade relationship between the two nations, bolstered by the UK’s recent accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). |
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The UK’s Minister for Trade Policy and Economic Security, Douglas Alexander MP and Malaysia’s Minister for Investment, Trade and Industry, The Hon. Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz, held positive talks in London to explore ways to increase bilateral trade and investment. |
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The Ministers endorsed an ambitious joint work plan to further bilateral cooperation in agreed priority areas including legal services, education, standards and conformity assessment, agriculture, wines and spirits, and SMEs. |
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The UK and Malaysia also discussed exploring further potential cooperation in the areas of customs, Islamic Finance, cooperatives, and social enterprises.
Key Outcomes: - Agriculture, Food, and Beverage: Formation of a Working Group to address trade barriers and foster collaboration.
- Legal Services: Extension of Qualified Foreign Law Firm (QFLF) licences in Malaysia from three to five years, offering greater certainty for UK firms.
- Education: Implementation of the May 2023 MoU to advance cross-border education, student mobility, teacher training, and apprenticeships.
- Standards and Compliance: Establishment of a Working Group to address technical trade barriers.
- SMEs: Collaboration on digitalisation, green transitions, and business matchmaking initiatives.
This visit not only reaffirmed Malaysia’s commitment to deepening its relationship with the UK but also highlighted the BMCC’s critical role in supporting these efforts. As a key facilitator of dialogue and partnerships, the BMCC continues to connect businesses, champion economic growth, and create opportunities for its members on a global stage. |
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Other Key Events During Malaysia PM's Visit to the UK
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| Launch of YTL's Brabazon project in the UK |
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Kudos to our member YTL on their £4 billion investment in the UK. Malaysia's Prime Minister Dato' Seri Anwar Ibrahim officially inaugurated YTL Brabazon New Town in Bristol, a development poised to become the most sustainable new town in the UK. This project will contribute over 30,000 jobs to the UK economy. |
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| Malaysia Prime Minister's visit to Battersea Power Station |
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The Prime Minister also visited Battersea Power Station, Malaysia's largest investment in the UK. This project is led by Permodalan Nasional Berhad (PNB), the Employees Provident Fund (PDF) and two BMCC members: S P Setia and Sime Darby Property. |
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| Launch of Tenaga Nasional Bhd’s Eastfield and Bunkers Hill solar farms in the UK |
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Prime Minister Anwar Ibrahim launched Tenaga Nasional Bhd’s Eastfield and Bunkers Hill solar farms in the UK, expressing optimism that its foray into the renewable energy sector there would yield long-term benefits for Malaysia, particularly in terms of technology transfer. |
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| 26 February | Government Dialogue Series: Charting the Path of AI with Malaysia's National AI Office |
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Discover how your business can be at the forefront of Malaysia's AI revolution in this fireside chat with the Head of the National AI Office, Mr. Sam Majid.
Date: 26 February 2025 Time: 10:00 am - 12:00 pm Venue: BMCC Office @ Menara IQ, TRX No 02-B, Menara IQ, Lingkaran TRX, Tun Razak Exchange, 55188 Kuala Lumpur Target Audience: C-suite, senior management, and senior representatives of BMCC member companies |
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| Download Now! BMCC's Membership Directory is Now Available! |
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This directory is more than just contacts! This informative document is a dynamic way to build your next connection and foster your next collaboration with our vast member network.
Inside, you'll find: - Essential member details and activities
- Sector insights and industry breakdowns
- Opportunities to explore partnerships and connect with leaders
Thank you to all members and stakeholders who contributed to the creation of this directory. We hope it will inspire growth across industries in the UK and Malaysia.
Explore the directory and unlock opportunities today! |
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| EIC Connect Energy Borneo 2025 | A New Era for Energy Collaboration |
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We are proud to be a supporting partner for The Energy Industries Council (EIC)'s annual flagship event: EIC CONNECT Energy Borneo 2025.
EIC CONNECT is organised around the world each year providing attendees with a diverse range of functions (Panel / Solo-themed Conference, 1-to-1 Business Matching, Networking Reception) dedicated to fostering and nurturing business partnerships and expanding their customer base.
Date: 25-26 February 2025 Venue: Hikmah Exchange Event Centre, Kuching, Malaysia
BMCC members can enjoy an exclusive limited-time New Year promotion—discounted delegate rates with promo code ASM50 (valid up to 31 January 2025). |
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| KSI Strategic Institute for Asia Pacific | Malaysian SME Resilience & Growth Conference 2025 |
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KSI Strategic Institute for Asia Pacific, in collaboration with the SME Association of Malaysia and the Economic Club of Kuala Lumpur, is organising the Malaysian SME Resilience & Growth Conference. |
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As global markets increasingly prioritise sustainability and responsible business practices, it is imperative for Malaysian SMEs to integrate Environmental, Social, and Governance (ESG) principles into their operations to remain competitive and resilient.
This conference will convene industry experts, policymakers, and successful entrepreneurs to explore strategies for sustainable growth and innovation. Participants will gain actionable insights on leveraging sustainability as a catalyst for long-term business success.
Date: 23 January 2025 Time: 8:00 am to 5:30 pm Venue: Royale Chulan Kuala Lumpur
Click here for the conference programme. |
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| MDEC | Accelerating SME Digital Transformation |
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To date, this programme has named 173 Penang-based companies Malaysia Digital (MD) status and awarded RM30.96 million in MD grants to Penang-based companies. These grants are designed to provide financial support for SMEs to adopt digital tools and solutions, enabling them to scale their operations effectively. |
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| British High Commission Kuala Lumpur | CPTPP Resources |
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With the UK officially a member of the CPTPP, the Department for Business and Trade (DBT) has produced several practical guides with key resources and sector explainers; to help businesses navigate the free trade agreement. You can also find more on trading with Malaysia here. |
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For information on exporting to Malaysia, please refer to MITI’s website and you can check export tariffs on the Malaysian Customs page. |
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| YTL Group | New Arena Launched by Malaysian PM |
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The Malaysian prime minister has formally launched the UK's largest brownfield development, which includes a huge arena and thousands of homes.
The Brabazon new town, built by the Malaysian-owned YTL Group, will be based on the former Filton Airfield on the Bristol and South Gloucestershire border.
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Speaking in London during a launch event on Wednesday, PM Anwar Ibrahim said a new trade deal between the UK and Malaysia represents a "golden opportunity".
The UK formally joined the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in December 2024, enabling closer working between YTL in the UK and Malaysia.
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| Gamuda and Castleforge Break Ground for £1.2 bil Redevelopment Project in London |
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Malaysia-based Gamuda Bhd and its London-based joint venture partner, real estate investor Castleforge, broke ground for 75 London Wall — a £1.2 billion (RM6.59 billion) redevelopment project — in the City of London on Wednesday.
"Multinational corporations are drawn to London, the epicentre of Britain’s economy and home to a huge proportion of its primary export — global services. This has driven a surge in demand for premium offices, linking quality workplaces to higher productivity. With a limited supply of best-in-class ESG (environmental, social, governance) spaces, rental growth remains strong, making 75 London Wall a standout investment." Gamuda Group's managing director, Datuk Lin Yun Ling.
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| AICPA & CIMA | Master MBRS 2.0: HRDC-Claimable Workshop in Collaboration with KPMG |
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In a collaboration between AICPA® & CIMA®, and KPMG, you are invited to an exclusive HRDC-claimable workshop. This session will provide a detailed walkthrough of the MBRS platform and its filing requirements. Facilitated by trainers from KPMG, appointed by SSM, the workshop is designed to help your organisation seamlessly transition to the new system and stay up to date with the latest filing procedures. |
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Event Details Dates: 13 & 14 February 2025 (Thursday & Friday) Time: 9:00 am to 5:00 pm (Malaysia Time) Venue: AICPA® & CIMA® KL Hub, Level 10, 1 First Avenue, Bandar Utama, 47800 Petaling Jaya, Selangor CPD Credit: 16 Hours
Fees: - CIMA members and candidates: RM1,000
- Non-members: RM1,200
Workshop Highlights: - Comprehensive coverage of MBRS submission requirements, including Financial Statements (FS), Key Financial Indicators (KFI), and Exemption Applications (EA).
- Hands-on training on using mTool 2.0 for FS and KFI preparation and submission.
- Detailed guidance on compliance requirements under both the Companies Act 1965 (CA1965) and Companies Act 2016 (CA2016).
- Insights into updates introduced with MBRS 2.0 enhancements.
This 16-hour course will equip participants with practical knowledge to navigate the MBRS platform confidently. Seats are limited and allocated on a first-come, first-served basis. Don’t miss this opportunity to enhance your compliance capabilities. Register now to secure your spot. |
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| Charterhouse Malaysia | Charity Music Concert |
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Join an unforgettable afternoon of music and community! Charterhouse Malaysia's Charity Music Concert 2025 is here to support Save School: School for Refugees. Date: 15 February 2025 Venue: Sri KDU, Kota Damansara Tickets: RM60 Enjoy spectacular performances by talented students while making a difference! Get your tickets by 14 February here. |
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| TraTax | Flagship Tax Conference 2025 |
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TRATAX is hosting a flagship conference on Malaysia’s evolving tax landscape, providing finance and tax leaders with key updates and strategic insights.
Date: 20 February 2025 Time: 9:00 am to 5:30 pm Venue: Le Meridien Kuala Lumpur
This one-day conference highlights crucial tax developments in Malaysia. It equips participants with insights into the 2025 National Budget, key Sales & Service Tax (SST) changes, emerging trends in tax disputes, e-invoicing implementation and tax incentives.
Tax events are never dull, especially when hosted by TRATAX. This time, they’re making it even more exciting with a fun and engaging Tax Quiz based on the conference content. Winners will be rewarded with a MacBook Air or AirPods!
The conference is HRDC-approved. Early bird registration fee expires on 27 January.
Register and get more information here. |
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| What’s Driving Malaysia’s Real Estate Growth? Knight Frank Malaysia Reveals Key Insights for 2H2024 |
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Highlights a comprehensive analysis of Malaysia’s property market.
Complementing the forward-looking insights of the recently published Malaysia Commercial Real Estate Investment Sentiment Survey (CREISS) 2025, this report covers five key sectors (industrial, office, retail, hospitality and high-rise residential), and highlights a strong performance in 2024 across several of these sectors. |
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Report highlights: - Industrial Sector: Malaysia's industrial sector remains strong, driven by rising demand amid external uncertainties and government support, with RM66.9 billion in FDI for manufacturing boosting industrial land transactions.
- Office Market: The office market in Malaysia recorded stable Grade A rent performance in Klang Valley, Penang and Johor. Demand for green accredited buildings improving occupancy, especially in the Klang Valley.
- Retail Sector: Malaysia’s retail sector grew steadily in 2H2024, with rising sales driven by strong domestic demand, tourist spending, and government initiatives while adapting to trends with community-oriented and innovative strategies.
- Hospitality Sector: Malaysia's hospitality sector is rebounding strongly, with 34.2 million tourist arrivals in Jan–Nov 2024, rising hotel investments, and upcoming luxury openings expected to boost average daily rates.
- High-End High-Rise Residential Market: Demand for high-rise residential properties is stable in Kuala Lumpur, Johor Bahru (especially near the RTS Link), and Penang, with Sabah seeing a rise in smaller landed developments.
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| Welcome the New Year with Shangri-La Kuala Lumpur! |
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Accept this invitation to Shangri-La Kuala Lumpur and usher in the auspicious Year of the Snake in 2025 with a spectacular array of Chinese New Year celebrations.
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| University of Reading | Discover Flexible Pathways for UK University Studies |
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The University of Reading (UK), with its rich 125 years of history is renowned for its high-quality teaching, research, and graduate employability and is ranked in the top 200 globally by the QS World University Ranking 2025.
Also known as the “Silicon Valley” of the UK, the town of Reading is conveniently located only a 30-minute train ride from London.
Read the full article here. |
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| British Theatre Playhouse presents Beatlemania - A Musical Journey |
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Beatlemania - A Musical Journey is created by the British Theatre Playhouse to celebrate the 65th Anniversary of The Beatles, and will be performed by UK's No. 1 tribute band, The Cavern Beatles, hailed as being the closest experience to the Fab Four.
Date: 25 February 2025, Tuesday Time: 7:00 pm for Cocktails; 8:15 pm for Curtains Up Ticket Price: From RM600 each, inclusive of the cocktail reception and show. Sponsorship Packages: RM10k onwards.
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| Partner with FLIP to Shape Your Tomorrow’s Talents |
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FLIP (Future Leaders Internship Platform) aims to reduce talent mismatch and talent scarcity most innovatively. They're on a mission to provide teens with internship opportunities and are inviting you to partner with them to provide high school students across Malaysia with unique internship opportunities. |
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FLIP is the only platform dedicated to connecting young, driven individuals with top-tier corporate internships, and your organisation can play a pivotal role in this journey.
Join and shape the leaders of tomorrow.
To get started, please register here today. Please connect with Founder, Alpa Shah, at alpa@fliplacement.com for more information.
Find out more about them here. |
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| Tay & Partners Presents LegalTAPS | Compliance Personal Data Protection |
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The Personal Data Protection (Amendment) Act 2024 (“Amendment Act”), which represents the first legislative update to the Personal Data Protection Act 2010 (“PDPA”) since it became effective on 15 November 2013, will be implemented in three phases during the first half of 2025, beginning on 1 January 2025, followed by 1 April 2025 and 1 June 2025. The Amendment Act received Royal Assent on 9 October 2024 and was published in the Federal Gazette on 17 October 2024, following its passage by the House of Representatives and the Senate of the Malaysian Parliament on 16 and 31 July 2024, respectively.
Read the full article here. |
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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) No 02-B, Menara IQ, Lingkaran TRX, Tun Razak Exchange, 55188 Kuala Lumpur Copyright © BMCC 2025 |
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