BMCC Newsletter Issue #347 - 3 April 2023 Dear Subscriber, |
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The UK – Malaysia Trade is Expected to Boost following UK's Accession to CPTPP
The UK has concluded trade talks with member countries of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). This is the culmination of over two years of process and negotiations with CPTPP members since the initial application in February 2021.
The UK is the first European country to join the dynamic trade bloc, and the first new member since CPTPP was created, taking it from a Pacific agreement to a truly global one. CPTPP creates opportunities to deepen the UK’s trading links across the Asia-Pacific region, providing a range of different opportunities with the different countries.
With the UK's accession to the agreement, the collective GDP of the CPTPP is anticipated to grow from £9 trillion to £11 trillion, reaching 15.4% of the global gross domestic product. This could mean lower tariffs on some exports to the UK that are not already removed through the UK’s bilateral agreements with member countries.
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Malaysia is one of the CPTPP members which the UK does not currently have a bilateral agreement with, so both countries being in CPTPP will offer significantly increased market access to each other’s economies.
The UK imported around £2.6 billion worth of goods and services from Malaysia in the four quarters to the end of 3Q2022.
The potential increase in trade between the UK and Malaysia, supported by the removal of trade barriers could support further growth, and contribute to the prosperity of both countries.
More from Charles Hay in the news, on UK's CPTPP move benefitting Malaysia below: |
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The BMCC welcomes the announcement as a reflection of the UK Government's commitment to the Indo-Pacific tilt and stands ready to support British businesses looking to expand their businesses into the region with advice, expertise, and infrastructure in place.
As Malaysia is one of the founding members of the CPTPP, we see the UK's accession as a positive development that could bring several benefits to our country. The CPTPP is a high-quality agreement that reduces tariffs and other trade barriers among its member countries, which could increase trade and investment opportunities for Malaysia. With the UK's membership, Malaysian businesses could potentially gain greater access to the UK market, which is one of the world's largest economies. This could help diversify our trade portfolio and reduce our dependence on traditional markets.
The BMCC believes that the UK's accession to the CPTPP could bring several benefits to Malaysia's trade and economic growth. We look forward to working with the relevant stakeholders from both the UK and Malaysian to strengthen our trade ties while tapping on this opportunity to promote greater economic cooperation in the region. |
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Unlock Your Business Potential in Kuala Lumpur with InvestKL
The BMCC would like to congratulate the InvestKL team led by CEO, Datuk Muhammad Azmi Zulkifli, for their stellar performance in their role to attract investments and promote Greater KL as the Global Services Hub.
2022 was the best performing year since the agency’s inception in 2011 with a record year registering at RM2.79 billion in investments with 13 new leading global companies committed to investing and producing 2,805 high-skilled regional jobs, two of which are BMCC members, Endava and Informa Markets. We would also like to congratulate our members AstraZeneca for being recognised as one of the top 3 performers for jobs realised in 2022, as well as International SOS for being one of the top 3 investments realised in 2022.
The Chamber will continue to support and facilitate InvestKL in its role to promote the Greater KL and Malaysia as a hub for businesses around the world in their various operations and functions within Malaysia or around the region. |
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Recently, our Board members, Dato’ Omar Siddiq, CEO of HSBC Bank Malaysia; Mak Joon Nien, Managing Director and CEO of Standard Chartered Bank Malaysia; Soo Hoo Khoon Yean, Managing Partner of PwC Malaysia, alongside Jennifer Lopez, CEO of BMCC, met with Datuk Azmi and his team to discuss some of the key areas where the Chamber can support InvestKL in promoting the Greater KL to the wider investor community.
We also identified gaps that both the government and private sector can collaborate to address, and increase the attractiveness of Malaysia with a focus on the talent ecosystem present here, and the ease of doing business. The Chamber will continue to work with InvestKL to advocate for these positive changes and narratives which will increase Malaysia’s competitiveness in the region. |
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| BMCC's Visit to The Ministry of Higher Education |
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The chamber recently visited the office of the International Relations Division of the Ministry of Higher Education in Putrajaya and had a meeting with the Senior Principal Assistant Secretary of the division, Khairil Azwan Abu Mansor. We had a productive discussion to revive the BMCC-MOHE Joint Working Group formed last year, and discussed opportunities to bolster international education in Malaysia.
Key points discussed: - Internship opportunities for local and international students.
- Areas of improvement for both parties on collaboration and partnership opportunities between public and private universities in Malaysia.
- Benefits of sharing best practices with public universities, especially in technology and digitalisation, to further improve the quality of education in the country.
Representing the Chamber at the meeting were BMCC's Daniel Lee, Public Affairs and Government Relations Senior Manager and Asyraf Shahar, Public Affairs and Government Relations Officer. Also at the meeting was Afiq Naim Mohd, Assistant Secretary of International Relations Division of the Ministry of Higher Education. |
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| Member's Engagement | Subsea 7 Malaysia |
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We recently caught up with our members from Subsea 7.
Thank you, Syed Feisal Alhady, Managing Director and Darrenjit Singh Darshan, General Manager, Global Projects Centre & Asia Pacific of Subsea 7, for taking the time to share your organisation's strategy and direction with BMCC's CEO, Jennifer Lopez; and Membership & Strategic Partnerships Senior Manager, Roufizah Razali.
We look forward to what we can achieve together in the near future! |
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| Member's Engagement | Universiti Teknikal MARA |
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Thank you, Ts. Dr. Zulkilfi Mahmoodin, Universiti Teknikal MARA's Deputy Dean for Student Development and Campus Lifestyle for dropping by our office to share your organisation's latest development strategies and plans.
Joining in the conversation were BMCC's Membership & Strategic Partnerships Senior Manager, Roufizah Razali as well as Public Affairs and Government Relations Senior Manager, Daniel Lee. |
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| Member's Engagement | City & Guilds Malaysia |
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We recently had the pleasure of meeting with Rakesh Kumar, Business Development Manager - East Asia at City & Guilds Malaysia's office to better understand the company's operations and services. We also explored how the Chamber can add value to its membership.
We also had a fruitful discussion on Technical and Vocational Education and Training (TVET), a sector which City & Guilds is very much keen on, and shared insights on the current business landscape and explored ways to address emerging challenges and opportunities in the market to drive growth and innovation in the industry. |
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| Member's Engagement | Hilton Kuala Lumpur |
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Thank you, Hilton Kuala Lumpur for hosting our quick meet-up session. We were happy to catch up with Hilton's Carmen Teo, Commercial Director; Linda Pecoraro, General Manager; and Amir Mubarak, Senior Sales Manager.
Joining in the conversation from the BMCC were Jennifer Lopez, CEO; Roufizah Razali, Membership & Strategic Partnerships Senior Manager; Shaayla Jayabhalan, Business Development (Membership) Manager; and Karen Dass, Events Senior Manager.
We look forward to working with Hilton KL in the near future! |
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BMCC Upcoming Events
In keeping with our aim of providing our members with access to only the best information and opportunities, we will be hosting a range of exciting events for you to partake in. Widen your views and learn more about the different topics we offer:
Grab this opportunity now and register yourself. We’ll see you there!
Browse through the details of our upcoming events below. |
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| Upcoming Event | In conversation with Mr Fabian Bigar, CEO of MyDIGITAL Corporation |
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Join us for a fruitful session with Mr Fabian Bigar, Chief Executive Officer of MyDIGITAL Corporation, and learn about the essentials of digital technology adoption in Malaysia.
Get first-hand insights from Mr Fabian himself on his vision for driving digital transformation and adoption and learn about the key sectors highlighted for digitalisation and 4IR adoption as announced in the National Budget 2023.
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| Upcoming Event | Energy Forum 2023 - Transitioning into Net Zero Carbon |
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Malaysia's commitment towards a Net Zero Carbon Economy is reinforced by the recent announcement by YB Rafizi Ramli, Minister of Economy, that Malaysia will be joining the Asia Zero Emissions Community, and the launch of the Malaysia Energy Transition Outlook.
Let's explore the very topic of energy transition, especially in Malaysia, while looking at the opportunities and technologies available in aligning with Malaysia's agenda on energy transition.
Click here to register now! |
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| Upcoming Event | 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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| Upcoming Event | BMCC Business Excellence Awards 2023 & 60th Anniversary Gala Dinner |
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It’s a double celebration! And we want you to be part of our eventful night!
Don't miss out on this high-profile networking opportunity, to be among 500 like-minded professionals and gain invaluable face time with government officials, bilateral trade guests, and industry leaders. Bring along your business partners, clients, and employees – it’s the night for the BMCC to shoutout your company’s brand while wowing guests with breathtaking performances, and more!
Don't forget, we are still accepting nominations for the following categories:
🏆 UK-Malaysia Business of the Year 🏆 UK-Malaysia Partnership of the Year 🏆 UK-Malaysia Education Institutional Partnership 🏆 Outstanding ESG 🏆 Technology & Innovation 🏆 Diversity & Inclusion
Show your support and nominate the organisation you believe has made significant contributions to the industry and has positively impacted our community.
Nominations will close on 23 April 2023, 11.59 pm (MYT).
For more information on the Awards, please contact:
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| Sports Direct | 12th Birthday Sale Early VIP Access |
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Sports Direct 12th Birthday Sale is back and here's an early VIP sale just for you!
Get your wish lists ready and shop like it is your Birthday. The sale starts from 4th April - 6th April 2023.
First-come, first-served and while stocks last. Terms & conditions apply. |
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Our By Member, For Member programme offers our members exclusive promotions on products and services from participating member companies, encouraging business-to-business connections like no other!
Interested to extend annual or one-off promo privileges to members of the chamber? Please contact Roufizah@bmcc.org.my
Head over to our website t o check out the full list of privileges now. |
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| Capital Markets Malaysia Launches Corporate Venture Capital Programme to Spur Investments in MSMEs |
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Capital Markets Malaysia (CMM) launched Malaysia's first corporate venture capital (CVC) programme to advance the nation's venture capital and private equity ecosystem by stimulating corporate investments by large public listed companies (PLC).
The programme aims to spur corporate interest and investments in start-ups and micro, small and medium enterprises (MSMEs), build confidence in corporate venturing, and act as a catalyst for growth.
The initiative intends to: - Promote economic activities that create high-value jobs
- Create business opportunities
- Promote talent development
- Strengthen the local economy against future global fallouts
The initiative will involve CMM working alongside relevant agencies and investment entities in Malaysia to bring together and connect verticals in a network that would improve access to capital, capacity building, business leadership, and development.
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| Transforming Malaysia into a Premier Investment Destination: A Look at investKL's Remarkable Achievements |
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In 2022, Malaysia was able to attract RM264.6 billion in approved investments - known to be the 2nd largest ever recorded!
The largest share was from the services sector followed by the manufacturing and primary sectors. The services sector saw approved investments totaling 58.2% out of the total approved investments for the year. Approved investments in the manufacturing sector maintained at 31.9%, while the primary industry is at 9.9%.
During the Malaysian Investment Development Authority (MIDA) media conference on Malaysia's investment performance for 2022, Tengku Datuk Seri Zafrul stated that two large one-off investments happened in 2021 from Intel and China's Risen Energy Co Ltd. Foreign direct investments (FDIs) accounted for 61.7% of the total approved investments while domestic direct investments (DDIs) contributed 38.3%. This is great as last year's approved investments are expected to open up more working opportunities in the country.
A large proportion of the approved investments took place in Johor (RM70.6 billion), Selangor (RM 60.1 billion), Sarawak (RM28.2 billion), Kuala Lumpur (RM25.0 billion), and Penang (RM16.3 billion).
Tengku Zafrul mentioned that Malaysia is putting in all efforts to emerge rapidly as ASEAN's digital hub, driven by several key factors, including its highly developed information and communications technology infrastructure, strong intellectual property protection framework, and talent pool.
Read more on the investments report and what Tengku Zafrul has to say about Malaysia's efforts to improve its performance in attracting more investments here. |
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| BSI Services Malaysia Sdn Bhd | Little Book of BIM |
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Introducing the Little Book of BIM! Download this essential Building Information Modelling guide and discover all things BIM, including benefits, key principles, and practical implementation tips.
Get ready to take your #ConstructionEfficiency to the next level.
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| Deloitte Malaysia | 2023 Asia Pacific Conduct Watch Survey |
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Deloitte’s 2023 Asia Pacific Conduct Watch Survey seeks to understand how we can make whistleblowing more effective. Add your voice to the study and be among the first to access the results and join our launch events.
Take the short survey here! |
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| Epsom College in Malaysia | The British Summer School 2023 - 30th July to 20th August |
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Epsom is inviting interested participants for another immersive experience to master the English language through classroom sessions with skilled native English teachers, while also providing a breadth of opportunities for them to step outside of their comfort zone through fun and engaging activities. The exploratory sessions allow participants to identify and explore their passions and interests whether it be in sports, music, drama, STEM, and more. In addition, participants will have the opportunity to explore social and cultural activities during excursions in exciting locations around Malaysia.
For more information about the programme, click here.
To register, please click here!
Registration is accepted on a first-come, first-served basis, subject to the availability of slots. Priority will be accorded to registrations received with payment. |
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| Epsom College in Malaysia | The Mouratoglou Tennis Programme Camps 2023 |
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The Mouratoglou Tennis Programme Tennis Camps are designed to give participants of all skill levels the opportunity to experience the Mouratoglou training methodology firsthand. The Camps will help participants to make real progress in the near term, establish on-court goals to work towards, and not to mention have a blast and build lifelong friendships in the meantime!
The range of tennis camps includes: - The Weekend Camps
- The Flagship Camps
- The Junior Camps
- The Adult Camps
For the full range of camps offered and the dates available, click here.
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| The Alice Smith Schools Association | Alice Smith School Foundation Fundraising Dinner |
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Let’s get together to experience a night of spectacular performances and be entertained for good cause at the Alice Smith School Fundraising Dinner to be held on Friday, 26th May 2023 at Pullman Kuala Lumpur City Centre Hotel.
Alice Smith secondary students will entertain and delight guests by delivering a prestigious silver service and outstanding performances. This annual whole-school event will unite all members of the Alice Smith community and partners through the common goal of giving to better the lives of others and help secure the long-term sustainability of the school. Since its inception in 2018, the Alice Smith School Foundation has been supporting various philanthropy works in the community.
Watch the video here to know more.
Purchase your tickets here. Limited tickets are available on a first-come, first-served basis!
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| Sunway Resort Hotel | Gordon Ramsay Bar & Grill's Sunset Dinner |
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Looking for a place to have a perfect dinner?
Dine in at Gordon Ramsay's Bar and Grill, KL for a month-long celebration of togetherness and indulgence with a special 4-course dinner menu. Experience a unique blend of flavours and renew connections during this special time of the year.
Interested? Click here to check out their menu! |
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| CMI | The Secrets of Writing Engaging LinkedIn Articles |
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Join CMI Malaysia for this webinar where eminent speakers will discuss key factors on how to use content to generate leads for your business as well as your career on LinkedIn.
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| Marks & Clerk Malaysia | 2022 Patent Prosecution Firm of the Year by Managing IP |
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Congratulations to Marks & Clerk Malaysia for being named the Patent Prosecution Firm of the Year by Managing IP once again.
Marks & Clerk’s Kuala Lumpur office handles all areas of intellectual property and has particular strengths in life sciences, information technology, and electronics. The firm also has a highly experienced trademark team whose attorneys advise household names across the world on brand protection and exploitation.
Read more about their achievements here. |
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| Marks & Clerk Malaysia| Chris Hemingway Recognised as Top Practitioner by Asia IP |
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Another terrific recognition! Congratulations Chris Hemingway, Director (Office Managing Partner) at Marks & Clerk Malaysia for being recognised by Asia IP as a top practitioner in your field!
Chris is a patent attorney specialising in the drafting and prosecution of patent applications, and is one of only a few practitioners in the country who is also qualified as a UK and European patent attorney. He has experience with a broad range of technical subject matter, ranging from mechanical and software-based inventions to medical devices and chemical innovations.
Read more about Chris's achievement here. |
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4% to 5% economic growth expected for Malaysia this year -The Star |
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Malaysian, UK firms to collaborate to create regional cyber-security hub -Malay Mail |
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Malaysia's Manufacturing PMI better at 48.4 in March -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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