Special Issue #8 (3 Apr 2020)
Dear Subscriber, |
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Day 3 into the second phase of the Movement Control Order, we hope you are keeping in good health, united as a nation to weather through this pandemic. The BMCC remains committed to keeping our members updated on the latest on COVID-19 developments, including Government initiatives and the sharing of best practices from our members.
In today's alert, we're sharing an article written by Natalie Black (Her Majesty's Trade Commissioner for Asia Pacific) on "How DIT can support your business in Asia Pacific during COVID-19." Also, to respond to our members needs better, we would like to know how COVID-19 has impacted your business. Please take our Impact Assessment Survey if you have yet to do so. We're also covering updates on:
- BNM - The Economic & Monetary Review 2019
- BNM - Financial Stability Review 2H 2019
- How DIT can support your business in Asia Pacific during COVID-19 by Natalie Black
- Ministry of Transport - Second port clearing exercise to expedite movement of cargo from ports nationwide
- National Security Council - Movement Control Order Phase 2 FAQ
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This year, Bank Negara Malaysia has published three reports including The Annual Report 2019. Pertinent to the COVID-19 pandemic, we are featuring two of them: The Economic & Monetary Review 2019 which focuses on the Bank’s economic assessments and forecasts, and the biannual Financial Stability Review 2H 2019 which details the Bank’s risks assessment with regards to financial stability.
For the full reports, you can view them below. |
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| 1. BNM - The Economic & Monetary Review 2019 |
| The inaugural Economic and Monetary Review 2019 is a technical publication to communicate the Bank’s economic assessments and research. This report focuses on economic and monetary developments of the Malaysian economy in 2019 and the outlook for 2020.
2020 is an exceptionally challenging year for the global economy. Confronted with an unprecedented health crisis, global growth is expected to contract. As an open economy, Malaysia will not be spared. Malaysia’s GDP growth is projected to be between -2.0% and +0.5% in 2020, affected by weak global demand, supply chain disruptions and COVID-19 containment measures both abroad and domestic.
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| 2. BNM - Financial Stability Review 2H 2019 |
| The Financial Stability Review Second Half 2019 is a biannual technical publication detailing the Bank’s assessment of financial stability. Domestic financial stability continues to be preserved. While the economic impact of COVID-19 has increased risks to financial stability, the financial system is also more resilient to these risks.
In particular, the strong buffers of the banking system that have been built over the years and sound risk management practices are expected to mitigate the impact of any deterioration in credit quality and support continued lending by banks to the economy.
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| 3. How DIT can support your business in Asia Pacific during COVID-19 |
| by Natalie Black, Her Majesty’s Trade Commissioner for Asia Pacific
To say we are living in unusual times is an understatement. COVID-19 continues to impact almost every part of our lives, in every corner of the world.
Like most businesses and organisations, the staff at the Department for International Trade (DIT) are working remotely and observing social distancing. And from our new team structures and working patterns, we are focused on managing the immediate economic fallout from COVID-19 and supporting the crisis response in many embassies and High Commissions across the region, helping UK nationals to return home.
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The BMCC is compiling feedback on the impact of COVID-19 on your business activities and performance. These cover responses on (1) impact on business operations, (2) action & support and (3) any additional feedback or suggestions you may have. We will hope to share the findings of the survey with relevant stakeholders including government agencies for the benefit of our business community. We encourage both large organisations and SMEs to participate. |
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BritCham Indonesia: Continuity in Education during the COVID-19 Challenge, Parents' Concerns Addressed (WEBINAR 9 Apr)
This present crisis throws up all the challenges facing governments, the healthcare sector, companies, small businesses and the working population. But there is little talk about the huge disruption that parents and younger face with regard to education and career choices. Together with David Butcher, Principal of the British School Jakarta & Board Member of BritCham, Oliver Anderson, Managing Director of ASK Consulting Indonesia and an additional panelist representing a British university, we will take a very frank look at the challenges surrounding education today.
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| 4. Ministry of Transport - Second port clearing exercise to expedite movement of cargo from ports nationwide |
| The Ministry of Transport has agreed after consultation with the National Security Council to allow freight forwarders and hauliers another four (4) days to expedite the movement of cargo from congested ports nationwide, starting Saturday, 4 April 2020.
Companies whose goods are stored at Port Klang, ports in Johor, Penang, Kuantan, Melaka, Bintulu, Sarawak and Padang Besar bordering Thailand are advised to move their goods out of those ports from Saturday, 4 April 2020 to Tuesday, 7 April 2020.
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| 5. National Security Council - Movement Control Order Phase 2 FAQ |
| The National Security Council has released an FAQ in English in light of stricter regulations under the second phase of the movement control order. This covers the following:
• Movement Restrictions • Revised Essential Services • Zones • Operation procedures for food & basic necessities • Control and operational procedure for fresh product sale centres and industry & manufacturing
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UM’s CSR Initiatives in Response to Covid-19
- UM Associate Professor asks for help to make PPE boxes to protect Covid-19 healthcare staff. Read here
- UM Covid-19 fund to assist UM's campus community. View here
- Distribution of meals and dry ration kits to students on and off campus. View here
- Setting up a One-Stop Centre for collection and distribution of dry goods and sustenance donations. View here
- Initiatives by the Student Affairs Division to assist students.View here
- Supply of 3D Printed Face Shields to the UM Medical Centre (UMMC) by UM’s Chemistry Innovative Space (UMCIS). View here
- Developed an infrared digital thermometer for Covid-19 screening purposes in collaboration with MyCRO Sdn Bhd and Taylor's University. View here
The BMCC wishes to commend and thank the University of Malaya for all their good work and support. If anyone wishes to contribute to the UM COVID-19 Fund, click here |
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The International University of Malaya-Wales (IUMW) would like to dedicate this video to the frontliners for their dedication, hardwork, bravery and sacrifice during these difficult times. Thank you, we salute you! Watch video |
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*BMCC Members are welcomed to share any news, research findings, press releases, corporate announcements, surveys or questionnaires etc. related to COVID-19 with us. We will assist to disseminate your content to all our readers on this channel. |
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Atlas Solutions: Infection Prevention and Control (FREE e-Learning Course)
Atlas, an enterprise risk management firm as well as Southeast Asia’s first UK-accredited security training agency is organising a free Infection Prevention and Control course delivered by their UK Awarding Organisation, Highfield Qualifications. This e-learning module will take about 20-40 minutes and is currently used by businesses as well as health related services in the United Kingdom. If you would like to undertake some Continuous Professional Development during this MCO period, please click the link to fill in your details. We will be closing off registrations on Tuesday 7th of April and sending the namelist to the UK in order for people who have registered to be emailed their access passes
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Nexus International School: Managing Mental Health during COVID-19
As news about coronavirus (COVID-19) in Malaysia dominates the newspaper and media headlines, we would like to remind you that taking care of your mental health is as crucial as looking after your physical health. Good mental health and positive wellbeing can help you better in coping with the COVID-19 threat.
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Shangri-La Kuala Lumpur Hotel: Stay Home and Let Us Bring The Flavours To You In light of the recent Movement Control Order (MCO) implemented by the Malaysian government from 18 March to 14 April, 2020 Shangri-La Hotel, Kuala Lumpur outlets will remain closed during this period. However, our restaurant and kitchen professionals remain dedicated to providing you with an impeccable Shangri-La dining experience that is delivered straight to your door. Browse from a great selection of all our tasty & gastronomical delights from Lemon Garden, Zipangu and Shang Palace and enjoy from the comfort of your own home.
To place your orders, call +60 3 2074 3900 or WhatsApp +60 19 390 2257. |
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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 2020 |
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