Learn More About Section 17A of the MACC Act 2009

BMCC Newsletter Issue #310 - 11 July 2022

Dear Subscriber,

Section 17A of MACC Act 2009 Ensures Integrity and

Zero-Corruption Among Businesses

The provision of Section 17A of the Malaysian Anti-Corruption Commission (MACC) Act 2009 (Amendment 2018) aims to foster a thriving business environment that is free of corruption. Commercial organisations are also encouraged to take reasonable and proportionate measures by making sure that their businesses do not participate in corrupt activities for their advantage or benefit. Such measures should take the form of policies and procedures, with training, communication and enforcement to ensure they are effective.

Enforced since 1 June 2020, the provision under Section 17A of the MACC Act 2009 (Amendment 2018) stipulates that a commercial organisation is liable to punishment if any of it employees and/or associates commit corruption for the benefit of the organisation.

The commercial organisation may be liable whether or not its top level management and/or representatives had actual knowledge of the corrupt acts of its employees and/or associates.

Should a commercial organisation be found guilty under Section 17A, the penalty under Section 17A (2) is a fine of not less than 10 times the value of the bribe or RM1 million, whichever is higher, or imprisonment for up to 20 years, or both.

However, a commercial organisation with adequate procedures can raise it as a defence against liability. The organisation must prove that it has necessary procedures in place to prevent its employees and/or associates from undertaking corrupt practices in relation to its business activities.

Learn more about the provisions of this law by clicking here and here.

Anti-Bribery Anti-Corruption (ABAC) Center of Excellence Sdn Bhd, in partnership with the British Malaysian Chamber of Commerce (BMCC) and the Japanese Chamber of Trade & Industry, Malaysia (JACTIM) are co-hosting a talk on "Section 17A MACC Act 2009: Ignorance of the law is not an excuse" followed by a members networking session.

Come join us for the talk on Thursday, 14 July 2022 from 3:00pm to 5:00pm at JACTIM, Suite 6.01, 6th Floor, Millennium Office Block, Peti #4, 160 Jalan Bukit Bintang, 55100 Kuala Lumpur. Learn more about this provision under Section 17A of the MACC Act 2009 and its implications on organisations, directors, partners and the management.

Seats are limited and opened for members only, so register now!

UK House | Registration open for UK House: The Commonwealth Business Hub at Birmingham 2022 Commonwealth Games

Registration is now open for UK House taking place in person and online over eight days during the Birmingham 2022 Commonwealth Games, between Thursday, 28 July and Monday, 8 August 2022. UK House is a platform bringing together business and government leaders to discover opportunities for international partnership and innovations for sustainable growth. It is a key part of the Commonwealth Games Business and Tourism Programme (BATP) - the first economic legacy programme of its kind to run alongside a major sporting event.

Delegates can attend in person at The Exchange in Birmingham or join the programme online atwww.ukhouse2022.co.uk.

Together, they will broker business relations with investment experts, government officials, thought leaders and SME exporters from seven sectors in which the West Midlands and the UK demonstrate global leadership. Each day at UK House will focus on opportunities in seven sectors that the UK is a global leader: Food and Drink, Education, Data-Driven Healthcare, Sports Economy, Creative and Digital Technologies, Future Mobility and Tourism.

BMCC E-Newsletter Green Edition | Leadership in Action: Inspiring Solutions

Launched in February 2021, the Green edition is published as the last weekly e-newsletter of each month, sharing only content related to sustainability, green initiatives, and ESG. The Green edition features Leadership in Action: Inspiring Solutions section with Take 5: Q&A with leaders of our member companies.

Take 5 – offers an insider’s look into our respective members’ Green agenda and how their organisations are implementing various initiatives, activities and commitments that are both environment-friendly and sustainable. Featuring prominent members’ CEOs, the interview aims to highlight industry champions and key opinion leaders to further push the Green narrative as a sustainable aspect of any business operation.

A year down the road, we have had the privilege to interview and feature more than 10 members’ CEOs from prestigious organisations such as Standard Chartered, HSBC, PwC, and Smith + Nephew to name a few - these are well-known organisations that are leading the Green curve in terms of initiatives and implementation.

For example, Shell Malaysia has installed solar panels on rooftops of over 150 retail stations and is using wind and solar energy to power their offshore projects. The University of Nottingham emphasises student initiatives to reduce single-use plastics and encourage sustainable eating and reduce food waste. HSBC is at the forefront of sustainable finance with Green bonds and sustainability sukuks.

We would like to call upon any interested members to participate in this interview and join us in our journey to share best practices, support and influence more organisations to combat climate change. Interested members can enquire at comms@bmcc.org.my.

Travellers Pass No Longer Required for Malaysian Citizens Returning to Malaysia

The Ministry of Health (MOH) has announced that Malaysian Citizens returning to the country will no longer be required to fill in the Traveller’s Pass section on the MySejahtera mobile app. However, the form should still be completed by non-Malaysian travellers before entering the country. MOH has also stated that they will remain vigilant in monitoring other infectious diseases from foreign countries such as monkeypox.

Learn more here.

Department of Statistics Malaysia Reports New Wholesale, Retail Trade record

Malaysia’s wholesale and retail trade has set a new sales record as of May 2022, growing by 19.9% year-on-year (y-o-y) to RM129.8 billion – the highest since 2013.

The Department of Statistics Malaysia’s chief statistician, Datuk Seri Mohd Uzir Mahidin, ascribed the increase to the rise of the retail trade sub-sector, which grew by RM13 billion or 29.9% (y-o-y) to RM56.3 billion. He added that wholesale trade has expanded from RM6.3 billion to RM59.6 billion. Other groups in the sub-sector have also reported positive growth including automotive fuels, household goods, and sales of food, beverages and tobacco.

The news report can be found here.

ICAEW | Senior ICAEW Chartered Accountants Form Trust to Recognise Best Local Student Performers

Twenty-three top scoring students were presented with awards in recognition of their achievements in the Institute of Chartered Accountants in England and Wales (ICAEW) examinations at the recent 1st ICAEW Malaysia Prizegiving Ceremony held at the inaugural ICAEW Student Placement and Symposium event. The award winners received gold medals from the patrons of the ICAEW Members' Society to commemorate their achievements.

The ICAEW ACA is globally recognised as one of the most prestigious professional qualifications one can achieve, with the examinations considered some of the toughest. Over the years, research into motivational psychology has shown that support, recognition and community are integral factors in any form of success. With an average pass rate of 70% for ICAEW exam papers, the professional organisation is inarguably empowering their students with the correct tools to achieve that success.

University of Nottingham Malaysia | First in Malaysia to Harness Power of Award-Winning AI Supercomputer

Congratulations to our Sterling member, University of Nottingham Malaysia (UNM), for being the first in the country to deploy the NVIDIA DGX A100 system, which provides the high performance computing (HPC) performance required for AI research, teaching and learning.

UNM’s research projects rely on modern AI techniques, particularly deep learning, and often adopt simulation-based approaches in a large variety of application areas.

To address the heavy computational demands of such activities, UNM is turning to NVIDIA DGX A100, a universal system for all AI workloads with five petaflops of AI performance for unprecedented compute density, performance and flexibility. Using the system’s NVIDIA Multi-Instance GPU (graphic processing unit technology), UNM will be able to flexibly allocate computing capabilities across every AI workload, supporting individual researchers to large teams.

Universiti Malaya (UM) | UM Deep Tech 2022 Startup Accelerator Demo Day

University Malaya Deep Tech (UMDT) is a Startup Accelerator under UM Centre of Innovation and Enterprise (UMCIE). UMDT aims to enhance the university’s entrepreneurial spirit and nurture university startups.

The second batch of UMDT startups incubation programme is coming to an end. We are showcasing 13 startups for our Demo Day. Join us as they will pitch to guests on a virtual stage.

University of Southampton Malaysia | Launches New Campus in Johor

Congratulations to our member, University of Southampton Malaysia (UoSM) on the grand opening of its Johor Campus. The new campus at Eco Botanic in Iskandar Puteri, Johor can accommodate an additional 2,000 students.

The 150,000 sq ft campus provides new facilities including four electrical and electronics laboratories, an aerospace laboratory equipped with a wind tunnel, a design studio, a business experimental laboratory, a 12-terminal Bloomberg suite and a 10,000 sq ft library with an attached computer suite, said UoSM.

Datuk Dr Badrul Hisham Kassim, Chief Executive Officer (CEO) of Iskandar Regional Development Authority, Datuk Chang Khim Wah, President and CEO of Eco World Development Group Bhd and a representative from the British High Commission in Malaysia graced the launch on 30 June 2022, coinciding with the university's 10th anniversary in the country.

Kaplan Financial Limited | Kaplan Scholarships

Kaplan has just launched a scholarship programme to give potential students access to accounting qualifications.

It is offering 10 scholarships to talented and committed students, to cover all course costs. The scholarship will pay for your studies for up to three years.

Click here for more information

Successful applicants will receive:

Free award winning OnDemand tuition for ACCA, CIMA or ICAEW
The ability to study at a time and place to suit them
Potential interview and work experience with leading firms and Kaplan partners - such as PwC and KPMG

Phone number: 012-212 5772

Email: zaiti.waddell@kaplan.co.uk

Milestone Production | Create a Safer Working Environment for Your Employees

Special bulk promo from as low as RM4.50 per kit.

Providing a safe working environment is important, especially in making sure your employee is protected from COVID-19. The easiest and fastest way to detect the presence of COVID-19 is to conduct regular RTK testing.

Get your original and approved test kit from authorised distributor now! Special bulk promo starts from as low as RM4.50 per test kit. Brands include Raycus, Lyher and TestNGo.

Phone number: 012-515 0922

Email: jane@milestone-healthcare.com

Learn More