Special Issue #10 (10 Apr 2020)
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This morning, the BMCC hosted its first LIVE webinar with EY Malaysia on the theme "Understanding Government Measures and Optimising Business Community." Representing EY, Amarjeet Singh (ASEAN and Malaysia Tax Managing Partner of Ernst & Young Tax Consultants Sdn Bhd), Farah Rosley (Partner, Ernst & Young Tax Consultants Sdn Bhd) and Preman Menon (Partner, Ernst & Young, PLT) presented a comprehensive overview of the Government's economic stimulus packages and measures thus far, whilst sharing practical advise to assist businesses as they continue navigating through these difficult circumstances. We thank EY Malaysia, a Sterling Member and our speakers for their time and thoughts this morning, as well as our 50+ attendees for joining us.
Building on this successful first, we will be collaborating with Ipsos Malaysia next Tuesday (14 April at 11am) for our second webinar on the theme "True Understanding of Data & Insights: The need for certainty in changing times" with Arun Menon (Managing Director, Ipsos Malaysia). We look forward to your participation as we explore the challenges & opportunities of data collection and digital research in a global crisis.
With the Prime Minister announcing today a further extension of the MCO till 28 April, the BMCC will be bringing you more webinars in partnership with sector specialists within our membership to keep you updated on a range of concerns. The topics for our webinar series are based on the responses that we received from our recent survey conducted to assess the implications of COVID-19 on businesses. These webinars are open to the public and FREE for BMCC members.* Upcoming webinars are listed below.
We'll also be closing our Impact Assessment Survey soon, so if you have yet to, we hope to receive your important feedback. In today's alert, we're covering updates on:
- British High Commission Kuala Lumpur: UK envoy meets Malaysian PM to discuss Covid-19 crisis
- Prime Minister: MCO extended by two more weeks
- Department of Statistics Malaysia: Report of Special Survey on Effects of COVID-19 on Economy and Individual
- Ministry of Finance: Fitch Affirms Malaysia's Rating at A-, Projects Malaysia's Growth at 5.8% in 2021
- Ministry of International Trade & Industry: Guidelines on the Movement of Commercial Transportations
- National Security Council (MKN): Don't Spread Fake News
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| 1. UK envoy meets Malaysian PM to discuss Covid-19 crisis |
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[Photo: British High Commissioner Charles Hay met Prime Minister Tan Sri Muhyiddin Yassin in Putrajaya]
KUALA LUMPUR, 9 April 2020 – H.E. Charles Hay, the British High Commissioner to Malaysia, met the Malaysian Prime Minister Y.B. Tan Sri Muhyiddin Yassin in Putrajaya [yesterday]. They discussed the Coronavirus crisis, its impact on our lives and businesses. Broader bilateral cooperation was also covered in the meeting especially on ways Britain and Malaysia could work together to recover from the crisis.
After the meeting, High Commissioner Hay said, “We are following closely the development with air travel as well as the movement control in Malaysia. As international travel becomes increasingly challenging, we are helping British travellers to return to the UK, by providing relevant information to help them make decisions on travel plans. We are also working with airlines to ensure that there are commercial options for British travellers to fly home.
“I also raised the issue of foreign nationals, including British, with work permit or long-term social visit pass who are currently outside Malaysia and have been denied entry into Malaysia during the movement control period. I very much hope they will soon be able to return to their homes in Malaysia.”
On the business side of things, High Commissioner Hay highlighted concerns from foreign companies and manufacturers currently operating under time or workforce caps. The restrictions may impact on their ability to fulfil orders. This particularly critical for those in the supply chain for essential medical equipment.
On the UK-Malaysia bilateral relationship, High Commissioner Hay said, “We hope to build on the strength of the UK-Malaysia relationship, and look forward to setting up the Joint Committee on Trade and Investment Cooperation with the Malaysian Government to strengthen our bilateral trade and investment. We are also interested to pursue a Dialogue Partner status with ASEAN to take forward our partnership across a whole range of areas not least trade and investment and security”.
During the meeting, Prime Minister Tan Sri Muhyiddin asked after UK Prime Minister Boris Johnson’s health. High Commissioner said, “I was pleased that Tan Sri Muhyddin kindly sent his well wishes to Prime Minister Johnson. I am also heartened by messages of goodwill and support from senior Malaysian politicians and business leaders. These are testaments of the strong bilateral ties and the deep people to people relationship between the UK and Malaysia.”
-British High Commission Kuala Lumpur |
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Data collection gives companies a clearer path forward as the crisis resolves, allowing them to emerge faster and confident with a sound strategy for growth and success as world economies recover. This webinar aims to discuss the present challenges & opportunities to shift towards online and digital research. Join our speaker from IPSOS Malaysia to hear more on the current issue.
We encourage participants to submit your questions upfront at karendass@bmcc.org.my
This webinar is open to the public and FREE for BMCC members!* |
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BMCC - International SOS WEBINAR (15 Apr) COVID-19: Where Are We Heading Next?
The COVID-19 crisis has created new challenges and exacerbated the existing economy. For the first time in our generation, we are globally united in focusing on the most essential problems and its solutions. International SOS, the world’s leading medical and travel security risk services company will share how can we continue to operate in this new norm, communicate with employees, promote mental health, and be prepared for more travel restrictions and escalated security issues?
This webinar is open to public and FREE for BMCC members!*
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BMCC - Knight Frank WEBINAR (16 Apr) Managing Issues Related to Real Estate Sector
The effects of COVID-19 pandemic have since felt throughout the country and forced companies to limit or halt operations. The crisis is also expected to have a significant impact on real estate sectors across the country in the near to medium term. With numerous commercial and residential developers already struggling, the future may also look uncertain for current & prospective owners and tenants to prioritise on their investment.
This webinar is open to public and FREE for BMCC members!*
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BMCC - World Bank WEBINAR (21 Apr) Economic Outlook Analysis for Malaysia & The Region
The Malaysian Government responded quickly to contain the overall spread of the virus through the implementation of Movement Control Order (MCO). However, the repercussion from the pandemic and local control measures have critically impacted multiple levels of businesses and livelihoods. The World Bank cut Malaysia’s GDP Growth to -0.1% for 2020, citing the growing uncertainty over the duration and overall impact COVID-19 outbreak. Malaysia together with other developing economies in the region face a further impact with the prospect of global financial shock and recession as the pandemic hits’ major economies in the world.
This webinar is open to public and FREE for BMCC members!*
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BMCC - Herbert Smith Freehills WEBINAR (27 Apr) Managing Contractual Obligations
One of the key challenges faced by companies, with the Movement Control Order (MCO), is meeting contractual obligations and understanding the legal implications. In this webinar, dispute resolution specialist Peter Godwin and transactional specialist Glynn Cooper who have vast experiences in major projects share insights to practical challenges faced by businesses resulting from COVID-19 and how companies can cope with this crisis more effectively from a legal perspective.
This webinar is open to public and FREE for BMCC members!*
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Survey Closing Soon! 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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| 2. PM: MCO extended by two more weeks |
| The ongoing nationwide Movement Control Order (MCO), which is in its second phase, will be extended by another two weeks until April 28. This was announced by Prime Minister Tan Sri Muhyiddin Yassin in a special televised broadcast today.
“On the advice of the Health Ministry and health experts, the government has decided to extend the MCO for another two weeks, from April 15 until April 28. “The extension of the MCO will enable healthcare workers to contain the spread of the Covid-19 outbreak among the community. “The extension is also in accordance with the view of the World Health Organisation (WHO), which urges (Covid-19 affected) countries against lifting movement restrictions immediately,” said Muhyiddin. [Source: New Straits Times]
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| 3. Department of Statistics Malaysia: Report of Special Survey on Effects of COVID-19 on Economy and Individual |
| This report provides a summary of findings Special Survey ‘Effect of Covid-19 on the Economy and Individual' - Round 1, was conducted online by the Department of Statistics, Malaysia for the period 23rd - 31 March 2020. This survey consists of 3 modules and 21 questions. A total of 168,182 respondents aged 15 years and above has participated in this survey. The analysis presented are based on respondent’s feedback that includes qualitative personal opinion on economics, employment and spending pattern.
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| 4. Ministry of Finance: Fitch Affirms Malaysia's Rating at A-, Projects Malaysia's Growth at 5.8% in 2021 |
| Fitch Ratings has affirmed Malaysia's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'A-' but revised the outlook from Stable to Negative. Fitch has also projected the Malaysian economy to register a growth of 5.8% in 2021.
Globally, countries have responded with substantial fiscal and monetary measures to cushion the economic impact of COVID-19. It has also been observed that the sovereign ratings outlook for several economies, both advanced and emerging, have also been lowered.
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| 5. Ministry of International Trade & Industry: Guidelines on the Movement of Commercial Transportations |
| MITI has provided guidelines for companies on the movement of commercial transportations throughout the Movement Control Order approved by the National Security Council. Encouraged operation hours: 7.00 night - 7.00 morning.
- Only for the transportation of food, basic necessities, produce, medication and food supplies for infants
- Lorries, vans, wagons, pickup trucks below 2 tonnes. (1 driver, authorised by Ministry and Government agencies)
- Lorries and trailers above 2 tonnes (1 driver & 1 assistant, authorised by Ministry and Government agencies)
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| 6. National Security Council (MKN): Don't Spread Fake News |
| Let us all raise awareness of sharing news or information that have been verified as legitimate and true only. Don't spread fake news, as it will only cause panic and jeopardise the safety of the nation. Continue supporting the National Security Council and receive legitimate information on the Movement Control Order and latest updates on COVID-19 on MKN's official channels:
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Southern Rock Seafood (SRS) is doing their bit with Fish and Chips for frontliners in their hood. Help them help more frontliners! You can order and ask SRS to send food to frontliners - or simply support SRS by ordering takeaway or delivery from the restaurant at http://bit.ly/SRS_Ready_To_Eat or call 0122096484
Roast Leg of Lamb as well as Bertha Roast Salmon now available on Easter Menu. |
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Never has our generation met with a greater need to come together than now. The COVID-19 pandemic has torn through our fabric of civilisation, wreaking upon us a global crisis both tragic and devastating. However, here we are presented with this rare opportunity to unite in arms against a singular adversary, and you can play a role! In supporting the Ministry of Health and our CSR partner, The Lost Food Project, the BMCC is calling on individuals and companies alike to contribute. All contributions great or small makes a difference!
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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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Covid-19 Related Pronouncements: Executive Summary
Mazars, an international, integrated and independent organisation, specialising in audit, accountancy, tax, legal and advisory services has published an executive summary on Covid-19, covering:
• Economic Stimulus Measures • Companies Commission Malaysia (SSM) • Bursa Malaysia • Inland Revenue Board (IRB) • Royal Malaysian Customs Department (RMCD) • Securities Commission Malaysia
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QS: COVID-19 Updates and Resources
QS Quacquarelli Symonds has assembled resources and updates on their website to aid higher education professionals during this coronavirus outbreak. QS will continue to identify best practices across the sector and provide insights to facilitate discussions and benefit the industry.
To provide feedback or contribute, email to chingyee.fu@qs.com
Additionally, browse upcoming webinars by QS and register free for live insights and solutions to benefit you and your institution here |
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Employment Issues To Consider WEBINAR (15 Apr, 12noon)
As the crisis prolongs and intensifies, employers are not just focused on ensuring a safe and healthy workplace, but also on maintaining business continuity and survival in the face of economic challenges. Our panel of ZICO Law partners from Malaysia, Singapore and Indonesia will share their insights on employment-related issues, and discuss various subsidies, incentives and stimulus packages that are available for businesses in these jurisdictions.
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Covid-19: A Case for Compulsory Licenising
Compulsory licensing allows authorities to step in when a market fails, or in the case of this pandemic, to ensure access to vital cures which may be patented by granting rights to make their generic equivalent. Naturally, patent holders consider this an affront to their exclusive rights to the patents which they had spent time and costs to develop. Compulsory licensing has been used in a few instances, most of them by developing countries. In a WHO technical brief in 2017, up to 10 developing countries have issued compulsory licences between 2003 and 2014, including Brazil, Ecuador, India, Indonesia, Malaysia, Thailand and Zimbabwe.
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MIDA: March 2020 Newsletter
In this March issue of MIDA's monthly newsletter, read their coverage on Malaysia's Economic Stimulus Packages for the Manufacturing and Services sectors, Exemptions for manufacturers of essential items, knowledge-sharing articles, highlights from the month and more.
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Learning Continues at Alice Smith
Learning at Alice Smith has taken a new approach and our teachers have been amazing in finding ways to make this happen.
Subscribe to our learning stories at the Alice Smith School to find out more.
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St. John's International Primary & Secondary School: Digital Discovery Week Discover St.John's International Primary and Secondary School from the comfort of your own home! Our Marketing team will connect with you online via video, at the time of your appointment. We are accessible via WhatsApp, Daily video, Skype, WebEx, Facebook, Google Chat and We Chat. If you would like to see even more of our school, check out our virtual tour video. Register with us and Enjoy RM2000 Registration Fee Waiver (Terms and Conditions Apply).
For more information please call at 012-983 1040 (Primary) / 012-303 1071 (Secondary) or alternatively may reach us via email at openday@sjis.edu.my
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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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