Issue #226 - 9 Nov 2020
Dear Subscriber, |
|
Green Conference 2020 (Sustainable Finance: A Blueprint for Green Recovery)
The BMCC, in partnership with Standard Chartered Malaysia and supported by the British High Commission is proud to introduce the Green Conference 2020 coming this 17 November. With the theme "Sustainable Finance: A Blueprint for Green Recovery", the conference will feature an in-depth discussion with our esteemed speakers and experts, including: - Alderman William Russell, Lord Mayor of the City of London
- YB Tengku Dato' Sri Zafrul Bin Tengku Abdul Aziz, Finance Minister of Malaysia
- H.E Charles Hay MVO, British High Commissioner of Malaysia at British High Commission Kuala Lumpur
- Abrar A. Anwar, BMCC Chairman and Managing Director & Chief Executive Officer of Standard Chartered Malaysia
- Mark Arthun, Site Leader of Smith & Nephew Malaysia
- Karen Westley, Vice President of Environment Shell Malaysia
- YM Tengku Dato’ Ab. Aziz Tengku Mahmud, Chief Executive Officer of PNB Merdeka Ventures Sdn Bhd
- Datin Seri Sunita Rajakumar, Founding Chairperson of Climate Governance Initiative Malaysia
- Dr. Adam Ng, Sustainable Finance Expert of WWF-Malaysia
- Bilal Parvaiz, Director of Islamic Business & Head Product Management of Standard Chartered Malaysia
- Daniel Hanna, Global Head of Sustainable Finance Standard Chartered Malaysia
- Gilles Pascual, Partner of EY/ Director of the ASEAN Low Carbon Energy Programme
- Promod Dass, Deputy Group Chief Executive Officer of RAM Holdings Berhad
Join us for insights on sustainability challenges, and opportunities that come from managing risks effectively and driving mitigation efforts.
*Seats are limited & complimentary and will be subjected to the approval of the organiser |
|
Virtual Roundtable with the Secretary General of Ministry of Works, YBhg. Datuk Dr Syed Omar Sharifuddin Join us for a digital roundtable with the Secretary General of Ministry of Works, YBhg. Datuk Dr Syed Omar Sharifuddin. It will be a platform to discuss initiatives between the public and private stakeholders to improve multilateral cooperation in reviving the construction sector. The roundtable will also discuss on opportunities for construction firms in post-MCO and insights of upcoming key development projects in Malaysia.
Date: 19 November 2020 Time: 2.00 – 3.00 pm (Malaysia) |
|
Highlights: The 2021 Budget
Finance Minister of Malaysia, YB Senator Tengku Dato' Sri Zafrul Tengku Abdul Aziz tabled the 2021 Budget on 7 November 2020, a first for the Perikatan Nasional government since taking over Putrajaya in March this year. According to Bernama and Reuters, a total of RM322.5 billion has been allocated for 2021, some RM7.8 billion more than the 2020 Budget worth RM314.7 billion. Around RM236.5 billion has been allocated for operational expenditure, RM69 billion for development and RM17 billion for the Covid-19 fund. Among the budget highlights include:
Environment - RM50 million to clean rivers of rubbish and waste
- RM40 million to strengthen enforcement and monitoring activities
- RM10 million for island waste management projects in Johor and Terengganu
- RM400 million for the preservation of natural resources through the TAHAP initiative
- RM20 million for the hiring of 500 former soldiers and police, as well as Orang Asli, to patrol forests
- Government to build urban transformation centre in Lembah Pantai with the assistance of the private sector
Job creation and social issues - RM100 million for NGOs involved in job creation, addressing social issues and environmental protection. This RM100 million grant will be matched with a RM100 million grant from GLCs
- RM2 billion to continue the Green Technology Financing Scheme 3.0
- Appointment of 100 new MACC officers
Development of local products - RM150 million for training programmes and assistance for 100,000 entrepreneurs
- RM150 million for the Shop Malaysia Online initiative
- RM35 million to promote Malaysia-made products
- Tax incentives for companies producing Covid-19 vaccines to invest in Malaysia
Highlights of proposals affecting businesses
Introduction of the Global Trading Centre Initiatives - Preferential income tax rate of 10% for five years, extendable for a further five years
- For applications received by Malaysian Investment Development Authority (MIDA) from 1 January 2021 to 31 December 2022
Manufacturers of pharmaceutical products - Preferential income tax rate of 0% to 10% for 10 years
- For applications received by MIDA from 7 November 2020 to 31 December 2022
Extension of application period for incentives to 31 December 2022 - Principal Hub incentive with relaxation of certain conditions such as headcount and annual operating expenditure
- 10-year income tax exemption for manufacturers relocating operations to Malaysian under the PENJANA initiative
- Incentives relating to Maintenance, Repair and Overhaul (MRO) activity for aerospace, construction and repair of ships, bionexus status and the Economic Development Corridors which are expiring this year
- Tax incentives for East Coast Economic Region, Iskandar Malaysia and Sabah Development Corridor
Extension of Incentives to YA2022 - Income tax exemption relating to export of private healthcare services
Expansion / Introduction of Incentives - Incentives for the relocation manufacturing activities under the PENJANA initiative to be expanded to selected services sectors including companies adapting Industrial Revolution 4.0 and digitalization technology (for applications received by MIDA between 7 November 2020 and 31 December 2022)
- Expansion of Authorised Economic Operator Certification to logistic service providers an warehouse operators
- Tax incentives for commercialization of R&D products to be extended to private higher education institutions (for applications received by MIDA between 7 November 2020 and 31 December 2025)
- Reintroduction of tax incentives for non-resource-based R&D product commercialization activities (for applications received by MIDA between 7 November 2020 and 31 December 2025)
|
|
'Doing Business with Malaysia Guide' launch
The main objective of this Doing Business with Malaysia Guide is to provide you with basic knowledge about Malaysia; an overview of its economy, business culture, potential opportunities and to identify the main issues associated with initial research, market entry, risk management and cultural and language issues. We do not pretend to provide all the answers in the guide, but novice exporters in particular will find it a useful starting point. Further assistance is available from the Department for International Trade (DIT) team in Malaysia. Full contact details are available in the guide.
|
|
|
Webinar Series on Decommissioning: Advanced Solutions to Downhole Sealing for Well P/A Date: 12 November 2020 Time: 5.00 pm (Malaysia) / 9.00 am (UK) Join the BMCC Energy Committee in this fourth webinar series on decommissioning where BiSN, a leading provider of metal to metal downhole plugging and sealing solutions will bring new perspectives to solve age-old problems in downhole sealing technology. |
|
|
CMCO Extended in all states in Semenanjung except Perlis, Pahang and Kelantan
The Conditional Movement Control Order (CMCO) has been extended for all states in Semenanjung Malaysia except Perlis, Pahang and Kelantan for another 27 days. Supposedly scheduled to end today (9 December 2020), Senior Defense Minister Datuk Seri Ismail Sabri Yaakob announced the extension on 7 November 2020 based on recommendations from the Ministry of Health of Malaysia. The third phase of CMCO will end on 6 December 2020.
|
|
Standard Chartered Webinar Series: Digitising for Growth in ASEAN
COVID-19 has altered the mindsets of consumers and businesses worldwide and accelerated the pace of digital adoption. As companies continue to forge a path to recovery and growth post pandemic disruptions, many are looking to digitise their operations for greater liquidity and to pursue new income streams. Join Standard Chartered Malaysia on 10 to 12 November 2020 for a three-part conversation with industry leaders and regulators as they discuss opportunities and digitisation trends in ASEAN. Click the links below to register:
10 Nov 2020 - Powering Retail & Transportation Sectors:
11 Nov 2020 - Reshaping The Healthcare & Insurance Sectors:
12 Nov 2020 - Advancing Education & Telecom Sectors: |
|
|
TMF Group: Malaysia Ranked 9th For Global Business Complexity
From Malaysia to China, Greece, Argentina and more – what compliance challenges await your growing business? Read TMF Group’s latest report about global business complexity HERE.
|
|
|
Wellness Wednesdays: Sleep - The Foundation To Performance
Sleep is the most anabolic and restorative activity that we do as human beings. What is seen as the last thing we do everyday is actually the first step to determining how well we can perform the next day. In this webinar, we will take a deep dive into lifestyle practices that leads to optimal sleep on a regular basis.
|
|
|
Deloitte Malaysia Tax Espresso (Special Edition) - Highlights of Budget 2021 - Part l
Deloitte Malaysia Tax Services is pleased to share that the Tax Espresso (Special Edition) – Highlights of Budget 2021 : Part I is now ready for viewing. We appreciate your support of the Tax Espresso and hope you will continue to find its contents, covering the latest tax updates and news on direct taxation of value to you. For more of our Budget 2021 highlights, please click here.
|
|
|
PwC - TaXavvy Budget 2021 Edition (Part 1) & Centre Stage: Budget 2021 Overview (Part 2)
PwC presents the key tax proposals of Budget 2021 based on the Budget 2021 speech as announced on 6 November 2020; TaXavvy Budget 2021 Edition (Part 1) and Centre Stage: Budget 2021 Overview: (Part 2) is now ready for viewing.
For more of our Budget 2021 highlights, please click here.
|
|
|
EY Tax Snapshots of Budget 2021
EY features the Tax Snapshots of Budget 2021 which is now ready for viewing. The Budget 2021 focuses on three integral goals – the rakyat’s well-being, business continuity and economic resilience.
The tax highlights of Budget 2021 include: - Reduction in personal income tax rate by one percentage point for tax resident individuals for chargeable income in the band of RM50,001 to RM70,000
- Preferential 15% personal tax rate for non-Malaysian citizens holding key positions in companies that relocate their operations to Malaysia under the PENJANA incentive package
- Extension of the Principal Hub incentive to 31 December 2022 with relaxation of certain conditions such as headcount and annual operating expenditure
|
|
|
Marlborough College Malaysia invites you to their Admissions Open Morning Listen to presentations from The Master, Mr. Alan Stevens, Head of Schools and a full tour. Marlborough College Malaysia benefits include: • UK National curriculum, IGCSE and IB Diploma • Broad subject range • 2020 IB average 36 points (world average 29.7 points / Asia Pacific 33 points) • Students go onto top universities which include Oxford, Cambridge and Ivy League • Boarding available from age 9 • Full co-curricular programme within the school day • Transport options available Saturday - 28th November - 9.00 am
To register for the event please visit |
|
|
Sri KDU International School Virtual Info Week | 6th - 12th Nov 2020 | 10 am - 3 pm
Sri KDU International School (SKIS) has always ensured a smooth transition takes place between physical to virtual school during this pandemic. Learn more about the school during the upcoming SKIS Virtual Info Week happening from the 6th – 12th November 2020; 10 am to 3 pm daily! Engage in a Q&A session with the Heads of School and get in touch with the Academic Leadership Team. Chat with the admissions team via live chats and enjoy the VR Tours! *T&C apply |
|
|
British Council: Digital Collaboration Fund
Arts and cultural organisations! Do you want support to launch a digital art project? Looking for ways to keep working with international partners? The British Council’s new Digital Collaboration Fund is offering grants to organisations to work in partnership on digital arts projects. You and a UK partner organisation can apply for up to £50k whether you're researching new ideas, relaunching a cancelled project digitally, or starting a new project.
Deadline: 18 November
Click the link below to apply and to know more:
#DigitalCollaborationFund #CultureConnectsUs |
|
|
BPP: The future skills your organisation needs to plan for - Asia Pacific
As businesses, jobs and entire economies evolve, we need to keep track of the skills that professionals will need in the future. Join BPP at their free webinar on Thursday, 19 November and discover the future skills your staff will need in a changing business world.
Click here for more information and registration. |
|
|
Acquire talent and improve performance through effective language testing
Linguaskill is a quick and convenient online test from Cambridge Assessment English to help organisations check the English levels of individuals and groups of candidates, powered by Artificial Intelligence technology. It tests all four language skills - speaking, writing, reading and listening - in modules.
It provides accurate results within 48 hours and is easy to administer; you can administer the test at any time or place. Results are aligned to the Common European Framework of Reference (CEFR), the international standard for describing language ability.
|
|
|
XMAS at GEMS: "Faithful friends who are dear to us, gather near to us, once more”
X'mas at GEMS is a school Christmas celebration event cum Open Day which is open to public. Plenty of exciting 'all things Christmas' activities are in store led by the exceptional GEMS "Three Wise Leaders' aka the Senior Leadership Team of Anthony Partington (Principal), Cassie Fleming (Head of Secondary) and Graham Tait (Head of Primary) and the supporting cast of GEMS talents - students, teachers, staff and parents!
If you don't already know..... GEMS International School, Tropicana Metropark is a quintessential British School right here in KL. Come, see for yourselves!
December 5th, 2020 | 10.00am to 2.00pm |
|
|
The Purpose of Education by Professor Mushtak Al-Atabi, Provost and CEO, Heriot-Watt University
PRIOR to the Covid-19 movement control order, we used to have a part-time domestic helper who came to clean our house once a week.
Now the management committee of our condominium no longer allows visitors so cleaning of the house fell to me. That was when I decided to buy a cleaning robot, resulting in another human job being lost to a machine.
Since the invention of the wheel around the year 3,500 BC, humans have been on a continuous journey to find alternative ways of doing their work, using technology or animal power. Continue reading |
|
|
Knight Frank - Budget 2021: Stamp duty exemption complements previous economic stimulus package
Budget 2021 has proposed a full stamp duty exemption on both instrument of transfer and loan agreement for the first home purchase worth up to RM500,000. The exemption is applicable for the sale and purchase agreement on purchases that are completed from 1 January 2021 until 31 December 2025. Stamp duty exemptions on loan agreements and the transfer instrument for abandoned housing projects will be extended for another five years, also till 31 December 2025.
Sarkunan Subramaniam (in photo), Managing Director of Knight Frank Malaysia says, “This is a great move as eliminating stamp duty will lower upfront cash payments and encourage home ownership among the first-timers. As this enhanced exemption is not limited to the primary market, first-time homebuyers will have wider choices to explore listings in the secondary market. Continue reading |
|
|
ManpowerGroup: How To Boost Engagement With Employees Working From Home
The WFH trend is not a new concept. The Ministry of Women, Family and Community Development actually highlighted this business model in Malaysia back in 2013, however the initiative did not get a positive reply from employees who still prefer to work in offices. Many of the organisations has taken the step to make sure that employees realised that during this global crisis that some “work” doesn’t have to be in the office as organisations have risen to make a move towards containing this pandemic.
Whether we are prepared or not, COVID-19 has progressed numerous organizations to empower remote work such as working from home at scale. But working from home comes with its own set of unique challenges— both for the employees and employers. So how to make sure employees are engaged and motivated even when they are away from their traditional work environment?
|
|
|
Shangri-La Hotel: Lobby Lounge
The Holiday season is near and Shangri-La Hotel, Kuala Lumpur is gearing up for the festivities. We look to embrace our famous festive Lobby Lounge Afternoon Tea that serves both adults and children. Tuck into a delightful soiree filled with Christmas-themed scrumptious savouries and sweet delights while you create beautiful holiday memories.
Festive Afternoon Tea: RM75 nett per person RM145 nett per person with one glass of Veuve Clicquot Ponsardin
Available daily, from 3pm to 6pm. For reservations, call 603 2074 3900.
|
|
|
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 |
|
|
