The Malaysia-China Chamber of Commerce (MCCC) appreciates the government’s launch of the second economic revitalization package to ease the people's living pressure, but calls on the government to step up its efforts to further help small and medium-sized enterprises to overcome difficulties, to avoid the possible tide of unemployment.
MCCC issued a statement today calling on the government to pay heed to the financial problems that faced by the SMEs, especially the cash flow big woe, and provide comprehensive support through such measures as tax cuts, interest rates and loan facilities so as to prevent the collapse of enterprises and protect the employment opportunities of the people.
Prime Minister Tan Sri Muhyiddin yesterday announced RM 250 billion "Care for the people's economic revitalization package" to deal with the severe blow brought about by the COVID-19 pandemic.
MCCC believes that the corresponding allocation has made countermeasures especially in the areas of combating the epidemic and caring for the people.
MCCC pointed out that the 28-day MCO no doubt would help to prevent the spread of the pandemic, but at the same time, the suspension business and industrial operations have also placed more pressure on the SMEs. It hopes that the government could set up an unemployment fund to assist employees who may have laid off after the MCO , in addition to applying for unemployment benefits from SOCSO.
Malaysia-China Chamber of Commerce also suggests that the government could give direct assistance to the SMEs during the MCO, help these SMEs to pay at least 25% of their employees’ salaries. According to an internal survey conducted by Malaysia-China Chamber of Commerce, half of the members who responded to the questionnaires said that although the economic revitalization package is helpful, it could not obtain timely tangible results.
SMEs need more government assistance to survive the financial difficulties. The survey reflected that the current practice of enterprises is cutting the flow of resources and that downsizing is one of the considerations, and even to the extent of business closure.
(Kuala Lumpur): Due to the outbreak of coronavirus (2019 - nCoV) and the World Health Organization (WHO) declared a global health emergency yesterday, the Malaysia-China Chamber of Commerce (MCCC) announced with regret that they would cancel the Lunar New Year Celebration that will be held on Sunday February 2, 2020. The President of MCCC Datuk Tan Yew Sing said that over the years, MCCC has organized Lunar New Year celebration to invite members and entrepreneurs from home and abroad to join and celebrate the festival together. However, due to the outbreak of the coronavirus, MCCC resolved to cancel the Lunar New Year celebration which originally scheduled to be held on Sunday February 2 at the Kuala Lumpur and Selangor Chinese Assembly Hall.
“China is at a challenging moment now, as a show of concern and support, MCCC has purchased 10,000 medical gloves to send to the epidemic areas”, Tan said.
Tan added that like what academician Zhong Nanshan, leader of the high- level expert group of the National Health Commission of China said “early detection and isolation are the most primitive and effective methods to prevent and control the epidemic situation”. Tan believed that with the highest concern of WHO and the stringent safety measures of the governments of Malaysia and China, the epidemic situation will be under control.
MCCC is organizing a Business Conversational Mandarin Program for those who intend to use Mandarin in the workplace or travel for business in China. As China is now the world’s fastest growing economy, the ability to speak Mandarin would be a useful skill to have.
This course covers vocabulary, grammar, dialogue and culture notes. The most different part is that the course is designed for professionals who want to build, grow, and maintain relationships with Chinese business partners, either individuals or corporations.
Knowing Chinese is a privilege today as Chinese is one of the most widely- spoken language in the world.
What are you waiting for? Click this link to know more about the course. https://forms.gle/VWVJDtcwMsTiBG2C8
MCCC invited you and your partners, your co-workers, your employees, your friends and whoever you know in the related fields, to join our "SME Challenge & Digital Accounting" talk. Please register to secure your seat
Warmest greetings from the Malaysia-China Chamber of Commerce (MCCC).
We cordially invite interested party to attend the Official Launching of The 9th Malaysia-China Entrepreneurs Conference (MCEC 2019) cum The 1st Malaysia-China Young Entrepreneurs Conference (MCYEC 2019) which will be held on 12 June 2019 (Wednesday).
Warmest greetings from the Malaysia-China Chamber of Commerce (MCCC).
We are pleased to inform that MCCC is organizing the forum “PM’s Post Visit to China: Achievements & Prospects” to comprehend the likely causatum to Malaysia. INTI Foundation will be the co-organiser of the forum.
Details are as follows :
Guest of Honour
Y.B. Puan Teresa Kok Suh Sim, Minister of Primary Industries Malaysia
16th May 2019 (Thursday)
10.00am-1.00pm (Registration : 10am)
Tan Yew Sing Auditorium, Level 3, INTI International College Subang No.3, Jalan SS15/8, 47500 Subang Jaya, Selangor.
*Free admission. Firstcome, first served.
We sincerely invite you and your industry partners to attend this forum. Kindly click https://forms.gle/Epj8umqmQanE4N4E9 for online registration before 14th May 2019 (Tuesday), 12pm.
Should you have any enquiries, please do not hesitate to contact Vice Executive Secretary Mr Eddie Chin at 03-9223 1188 or email to firstname.lastname@example.org.
Warmest greetings from the Malaysia-China Chamber of Commerce (MCCC).
We sincerely invite you and your friends to attend the Forum “PM Revisit China: Expectation and Opportunities” Details are as follows: Date : 16th April, 2019 (Tuesday) Time : 2 pm to 5 pm（Please arrive at 1.30pm for registration） Venue : Bilik Seminar , Level 1, Menara MITI,No. 7, Jalan Sultan Haji Ahmad Shah, 50480 Kuala Lumpur, Malaysia. Dress Code : Formal ** Free admission, light refreshment will be served ** Medium language: English
Keynote speaker: YB Dr.Ong Kian Ming,Deputy Minister,Ministry of International Trade and Industry Academic Speaker: Dr Ngeow Chow Bing, Director, Institute of China Studies, University of Malaya
Panel Discussion with Q&A Panelists: 1. Dato’Abdul Majid Ahmad Khan,President of Malaysia-China Friendship Association & Former Malaysian Ambassador to China 2. Dato’ Joseph Lim Heng Ee,Vice President of MCCC and Founder & CEO of INSIGHT Think Tank 3. Dato’ Azman Shah Mohd Yusof,Chief Executive Officer of Northport (Malaysia) Bhd 4. Yee Wing Peng,Country Managing Partner,Deloitte Malaysia Moderator: Sean Lee Koh Yung, National Council Member of MCCC&President of Malaysian Financial Planners and Advisers Association
Government intervention is needed in the short term to prevent the economy from collapsing as recovery will take too long if it depends purely on private business and consumption, an analyst said.
While stimulus packages to keep businesses afloat and give households enough cash are good measures, Ravindran Navaratnam of the Malaysia-China Chamber of Commerce proposed that Putrajaya implement a command and control structure to respond to the economic crisis.
Such a structure is required to stop the dislocation of capital and labour as well as stimulate the economy, Ravindran told a webinar recently.
This approach, applied selectively to the supply side and not just the demand side, would boost the economy, said Ravindran, who is an adviser in corporate finance and restructuring.
Ravindran’s suggestion comes on the back of Putrajaya’s RM35 billion short-term economic recovery plan announced yesterday. It aims to help micro and small businesses survive sluggish onsumption and help companies retain workers.
As an example of both supply and demand side intervention by the government, Ravindran cited the UK’s actions during World War 2, when it coordinated and funded the production of fighter planes.
KUALA LUMPUR (June 17): The Malaysian government is urged to increase efforts to aggressively woo investors from China, now that Malaysia begins its process of economic recovery following the Covid-19 pandemic.
Malaysia-China Chamber of Commerce (MCCC) vice president Kevin Siah said although many economies worldwide were badly affected by the Covid-19 outbreak, the pandemic brought new opportunities as well.
“We can see at the beginning of the outbreak and when the lockdown was imposed (in China), global supply chains were badly disrupted because many of production of these crucial products are based in China.
“So, I believe post-Covid, many manufacturers will look to diversify their industry outside China. The ASEAN region is definitely the ideal location, and Malaysia should look at this opportunity,” he told Bernama in an interview.
Prime Minister Tan Sri Muhyiddin Yassin had launched the National Economic Recovery Plan — a fast-paced step to rebuild and revitalise the economy in the short term — early this month.
Known as PENJANA, the RM35-billion plan include various initiatives and programmes aimed at attracting more foreign direct investment (FDI).
To make Malaysia more attractive to investors, the government is giving manufacturing companies that chose to relocate to Malaysia a zero tax rate for 10 or 15 years depending on the amount of capital investment made.
It is also giving a 100% tax allowance for five years to encourage existing companies to relocate their overseas facilities back to Malaysia.
Siah said despite facing competition from neighbouring Vietnam, Cambodia and Indonesia, Malaysia is in an advantageous position for these investors in terms of competitive wages, knowledge-based workforce, investor-friendly policies, and a conducive and stable business environment.
“We need to be proactive in putting these measures into immediate action,” he added.
Siah also added that the International Trade and Industry Ministry and the Tourism, Arts and Culture Ministry can aid in enhancing the current tourism FDI to the country.
“It can be immediate revenue for the country,” he said.
Kuala Lumpur, May 5:Manufacturers need to take every opportunity to embrace smarter, connected technologies now but although industry 4.0 has been buzzword for some time, many manufacturers in Malaysia still struggling in whether to move forward with it. The Malaysia-China Chamber of Commerce (MCCC) has organized the “Way Forward on IR4.0 for SME” webinar to invite Industry 4.0 expert professionals to share on implementation and the steps to move forward on IR4.0.
The webinar was moderated by Wong Chui Ling, a celebrity entrepreneur and has invited three speakers from Industry 4.0 including a Senior Director from MITI to share with us the grant that offered by our government especially to SMEs.
Dr. Chua Wen Shyan, Head of Malaysian Smart Factory 4.0 (MSF 4.0) under the Selangor Human Resource Development Centre (SHRDC) said that the concept of integrating technologies should be modular, compatible, flexible and scalable to reduce complexity and thus cost-effective and sustainable.
Dr. Chua added that smart factory is a convergence of OT (Operational Technologies) in IoT (Internet of Things), it takes current manufacturing processes to Industry 4.0 standards, ie. highly effective and efficient machines which are capable of five build blocks of technology: data generation, visualization, storage, formulation and analytics.
He emphasized that IR4.0 is not about building computer/system, it’s about custom focus tailor made applications for SMEs which are sustainable transformation. Companies need to have a good understanding about what kind of improvements they required for their own operational needs.
Mr. Tiong Khe Hock, the Managing Director of Omron Electronics Sdn Bhd / President of Malaysia Automation Technology Association (MATA) shared about the steps to Industry 4.0: lean manufacturing, that is to do more and more with less and less - less human effort, less equipment, less time, and less space. Automation and IR 4.0 application can improve bottom-line and help to enhance competitiveness, data analytics and AI implementation.
Tiong pointed out that the challenges faced by Malaysia SME manufacturers such as low productivity, make-to-order requirement and labour intensive operation could be solved by such smart automation facilities. Successful human-machine interface will enable robots to work side-by-side with people. Collaborative cobots and robots could increase productivity, flexibility and quality, leading to greater efficiency.
As to the way forward after the CV-19 impact, Tiong said that the SMEs should do a self-assessment like where and to what extend the company want to move towards automation. In addition, the entrepreneurs need to decide whether business model of the company intended to be upgraded or transformed, also to conduct process improvement such as lean manufacturing, and related talent development.
En. Mohd Mirza Mohamed Noor, Senior Director of National Strategic Initiative, MIMOS explained the application procedures of MITI Industry4WRD initiative during his presentation. The Industry4WRD initiative launched in 2018 to help SMEs in manufacturing sector and services to understand their existing capabilities and gaps in terms of people, process and technologies, and to provide strategic recommendation to adopt the IR4.0.
The Industry4WRD initiative is divided into two components, that are readiness assessment which is to be conducted by MITI, and the business intervention conducted by the MIDA.
In addition, En. Mirza mentioned that SMEs could also get information from the BIZ4WARD data-based info hub.
Most businesses are aware that there is a major change coming and that they need to be ready to capitalize on it. All the three speakers have acknowledged for SMEs that to benefit from IR4.0, there is an urgent need for the manufacturers concerned to increase their practical understanding about digital technologies and applications. With that related knowledge, they can then formulate a digital manufacturing strategy and finally, a digital transformation roadmap.
(Kuala Lumpur) The Malaysian-China Chamber of Commerce (MCCC) cautiously welcomed the government's decision to allow for the conditional opening of nearly all commercial sectors, but reminded all that once the exercise of vigilance relaxed, the third wave of the CV-19 would result in backlash on our national economy!
Taking the example of Hokkaido, Japan, which had to resume its lockdown the 26 days after lifting it. Stated in a statement issued by MCCC today.
Viewing of this, MCCC President, Datuk Tan Yew Sing pointed out that commercial activities that allowed to operate must strictly adhere to the standard operating procedures (SOP) set by the Ministry of Health. The employers could provide a supportive environment for their employees and not to hold back the potential asymptomatic to protect their own interest.
He further said that although the CV-19 in Malaysia has shown sign of curve flattening, we should not let our guard down, we should exercise self-discipline and maintain a high level of hygiene indeed.
Datuk Tan urged the relevant businesses or sectors to co-operate with the government’s conditional movement control order, to refrain from organizing mass gatherings or religious activities, to help to curbing the spread of CV-19.
It has been more than 40 days since the implementation of MCO on 18 March. We have also entered a new normal, like less going out, keeping social distance, wearing masks, washing hands frequently and so forth. MCCC do hope that every one of us will continue to adhere to and practice these good habits and guard against the resurgent risk of the pandemic.
MCCC called on the government to set up roadblocks in areas where MCO is still in enforcement to avoid a deterioration in traffic congestion.
MCCC also hopes that law enforcement officials will take more considerate measures during the conditional opening period and will not compound people who have unintentionally violated the law, and help people adjust and adapt to the normalcy, while minimizing the misinterpretation of the relaxation order.
MCCC hopes that the government would allow limited visitors, especially donors to visit hospitals, homes for the elderly, nursing homes and orphanages.
The government should also allow the funeral process be conducted for no more than 25 people. After all, it is something that cannot be waited for.
In addition, MCCC considers that to better prevent the spread of the disease, the government should publicly declare the buildings which are restricted to closure for the detection of new cases, to keep the public away from the relevant areas.
(Kuala Lumpur): Malaysia has implemented MCO for more than 40 days and it is great to see that the number of CV-19 cases is declining and the curve also started to flatten. The Malaysia-China Chamber of Commerce (MCCC) has organized a webinar to invite expert professionals from public health and NGO sectors to share their insights into what the government and the people could, and/or should do during and after the MCO.
The 7th webinar of MCCC – Beating COVID with the Whole of Malaysia – is moderated by Dr. Khor Swee Kheng, a Physician & Public Health Specialist. Dr. Khor said that the CV-19 pandemic is not only a medical or health problem, it is also a problem of national economy, social, psychological and even political.
Dr. Musa Mohd Nordin, Advisor of Islamic Medical Association Response & Relief Team (IMARET) said that Malaysia should now thinking a safe and middle-of-the-road exit strategy that would not further hurt the economy of Malaysia.
Dr. Musa emphasized 3 crucial elements that should be concerned for the exit strategy: mass testing, tracking and preserving the strength for health services.
Dr. Musa explained that mass testing is essential to stop the CV-19 transmission. It enabled the department to isolate the new cases, to trigger tracking and stop the spread of CV-19 disease. Tracking is important as our country has a large number of migrant workers, these workers are the engine of the industries. The exit strategy should consider a better solution for these migrant workers to do testing to avoid the resurgent risk of CV-19.
Dr. Siti Noor Munirah Ibrahim, Coordinator of Projek Wawasan Rakyat stated that due attention should give to the vulnerable populations such as children, women, those with mental health issues, stateless, refugees and foreign workers.
Dr. Munirah said that the vulnerable populations are struggling for survival during the MCO period. The NGO concern is to make sure they have food and to ensure they are safe from the disease. The society should pay more attention to these communities or otherwise the efforts to combat the CV-19 will be in vain as these populations may not receive, or ignore the restrictions as survival is their most concern.
Dr. Munirah expressed hope that the Ministry of Women, Family and Community Development to look into the protection, the basic necessities of children, especially in communities that are struggling financially, regardless whether they are Malaysian or non-citizens. And in addition, the Ministry should also take steps to ensure that those children and women who experiencing domestic violence have a safe place to stay.
Talking about the changes in personal practices when the MCO is lifted, Datuk Dr. Christopher Lee, an Infectious Diseases Specialist and the former Deputy Director General (Research and Technical Support) MOH said that social distancing must still be embedded in all our lives to a certain degree for a certain period of time.
Dr. Christopher Lee said that for industries to open up safely after the lifting of MCO, the industries people should work in collaboration with the health experts to formulate a guideline to safeguard the hygiene of the workers, to do testing and take immediate steps such as isolating and tracking, to stop the CV-19 transmission. He also encouraged employers to change the work culture like visitors should write down their names in order to track when somebody is infected, staff to work on shift to avoid crowded, and so on. The employers must do the monitoring and surveillance after the lifting of MCO.
The Ministry of Human Resources and the Ministry of Health should work together to formulate a general guideline for the industries owners and workers. Dr Christopher Lee added.
Considering the deficiency of PPE, Dr. Musa hopes that the Ministry of Finance to invest more on health services by supporting the Ministry of Health (MOH) as he thinks that the PPE should supply by the MOH.
(Kuala Lumpur): The MCO that implemented in Malaysia not only curb the spread of CV-19 but also adversely affect commercial activities. This impact led many enterprises forced to look way forward to digitize their current businesses. Yong Kai Ping, Chief Executive of SITEC (Selangor Information Technology and E- Commerce Council) pointed out that digitization is way forward to ensure business sustainability after this crisis.
Yong said that the digitization process covered simple concepts, i.e. (1) Funnel Theory, such as digital sales tools including web-store platforms; (2) Online user behavior, understanding user consumption patterns and competitors through data; (3) O2O marketing model, allowing you to run business from online to offline and retain customers.
However, he said that most of our SMEs and traditional industries face a number of challenges in digital transformation such as lack of relevant knowledge/overall strategy, lack of human resources (e.g. chief technology officer; CTO), lack of resources, uncertain return on investment, and lack of willingness on the part of top management for full implementation of digitization in the company operation.
"The Selangor Information Technology and E-Commerce Council (SITEC) and Malaysia Digital Economy Corporation (MDEC) will jointly launch a Digital Center in May to help SMEs digitize through consultation and provide relevant information such as the SME Digitalization Matching Grant". Yong shared this information at the “Digitalization of Current Biz #MCO” webinar.
“Digitalization of Current Biz #MCO” webinar is organized by the Malaysia-China Chamber of Commerce (MCCC) Young Entrepreneurs Committee which moderated by Tan E Yang, Council member of MCCC Young entrepreneurs Committee/Senior Manager of Green Packet Holdings.
Bryan Soong, the CEO/Founder of Biztory, Vectory Innovation said that the CV-19 pandemic has led many SMEs to switch to e-commerce and he also encouraged micro and small enterprises to move to e-commerce, which could not only reduce costs but also achieve sustainable development. He said that small and micro enterprises could use big data to adopt an omnichannel retail model, selling goods or services by integrating physical and e-commerce channels, and providing customers with a non-discriminatory buying experience.
Bryan Soong also strongly encouraged micro and small enterprises to upload data to the cloud for security. With greater security in the cloud than servers deployed, enterprises adopting the cloud do not have to worry about losing critical data and business applications, and can view data at any time.
Daniel Tay, Managing Director of Beckhoff Automation, on the other hand pointed out that industrial automation is very important to further development of Malaysia’s manufacturing industry. However, most of our manufacturing industry is still between 2.0 and 3.0, and only a few manufacturing industries have moved toward 3.0 to 4.0.
Daniel said that Industry 4.0 mainly linked the Internet of Things (IoT) to manufacturing technology, enabling systems to share information, analyze information, and use it to guide intelligent actions. However, older existing machines for more than 20 years are difficult to upgrade and limited to substitute production.
Daniel also added that adoption of open technologies in industrial automation is critical to sustainable development, and computer-based control is one of the open technologies. MCCC will organize another webinar on IR4.0, the “Way Forward on IR4.0 for SME” on Thursday, April 30, at 11:00 am. This session will be conducted in English.
MCCC donated 5000 pieces of medical masks to MERCY Malaysia.
(Kuala Lumpur): The Malaysia-China Chamber of Commerce (MCCC), in response to the covid-19 campaign, donated RM 100,000.00 to the Medical Relief Society Malaysia (MERCY Malaysia) for the purchase of 200 personal protective equipment (PPE) to support frontline health care staff.
This is also one of the support actions of the MERCY Malaysia to the Ministry of Health, the National Crisis Preparedness and Response Center (CPRC) and the National Disaster Management Agency (NADMA) during the pandemic.
In a statement issued by MCCC today saying that in addition to the financial support, MCCC has also donated 100 cartons of bleach agent and 5000 pieces of disposable medical masks to MERCY Malaysia.
Seeing the rapid spread of covid-19 and the deficiency of protective supplies, the MCCC held a “MCCC Covid-19: Malaysians We Care” fund-raising initiative among its national council and MCCC members and have raised RM113,500.00.
In addition, Guangzhou Tongyuan Technology Co., Ltd., donated 10,000 pieces of medical masks to MCCC in response to the MCCC donations to various regions of China during the outbreak of coronavirus in January 2020.
Given the high demand of masks for front-line staff, the MCCC donated all 10,000 masks to the Royal Malaysia Police (PDRM) to support their efforts to combat the epidemic and to thank them for their contribution during this period.
The statement stated that several state administrative branches of MCCC also responded to the chamber’s concern for the front-line movement. The Johor branch donated protective clothing and masks to the Johor Doctors Association, the Penang branch donated masks to the Penang state government, the Perak branch donated masks to the police officers in the Jiulong district of Ipoh, and the Sabah branch donated masks, disinfecting hand fluids, body temperature measuring devices, and protective waterproof clothing and sun-protection rainwear clothing to the State Ministry of Health and People's Welfare, Sabah.
Malaysia-China Chamber of Commerce (MCCC) urge our government to permit optical shops the option to carry on their operation and offer eyecare services during the 3rd MCO period, especially to those working in Essential Services. The Malaysian Optical Council of the Ministry of Health has in its letter dated on March 17th, 2020, approved the optical shops to operate during the 1st and 2nd MCO periods since the Optometry service is categorized under the Essential Health Services in Malaysia. In fact, there were optical shops operating during the MCO 1st and 2nd periods throughout Malaysia.
During the practicing and operating of eye care services from 18th March until 14th April, 2020, optometrists and opticians have been helping customers to repair spectacles, providing contact lenses, contact lens solutions and etc., and there is no coronavirus case reported due to the provision of eyeglasses and contact lenses during the 1st and 2nd MCO periods.
For doctors, nurses, polices, bomba, Grabriders, bankers, taxi drivers, bus drivers, pilots and many others who are very needed to perform their duties during the MCO periods, and if unfortunately, their eyeglasses or contact lenses are broken, then Optometry services become critical indirectly to these essential services!
MCCC therefore appeal to the Government to allow the Optometry shops to have the option to continue providing their services. In addition, we will expect the optical shop to provide health declaration form to keep track of their customers’ health record and facilitate contact tracing, if so necessary. It is also vital for all operating optical shops to take all precaution steps according to MOH SOP in providing eye care services. Such services should only be provided to persons working in sectors classified as essential.
(Kuala Lumpur): Malaysia-China Chamber of Commerce (MCCC) believes that the government must have a better prepared strategy to ensure the economic recovery of the country after the epidemic, in addition to addressing the problem of halting the spread of the epidemic and providing a safety net for people's lives.
The MCCC appreciates and welcome the Government's efforts to cope with the epidemic by supporting the affected population especially B40, and combating the epidemic. In addition to ensuring the effective implementation of the economic stimulus package, the reviving of economic development in the aftermath of the epidemic will be an extremely challenging task for our country.
Malaysia's SMEs account for 98.5% of the total number of business establishments. In 2018, SMEs contributed 38.3% of our country GDP, and the service sector accounting for 62.4% of the total number of SMEs in our country.
At present, SMEs provide 70% (about 5.7 million people) of the country's workforce. According to the study by Malaysian Institute of Economic Research (MIER) the estimated number of unemployed workers may reach 2.4 million after the epidemic, of whom 67% are non-professional workers.
Datuk Tan Yew Sing, President of Malaysia-China Chamber of Commerce viewing of this serious potential unemployment scenario, said that the government should, besides the various anti-epidemic measures already implemented by the relevant authorities, to adopt the following four emergency measures to ensure social harmony and reduce unemployment rate. It is vital also to secure the continuous operation and sustainability of enterprises especially SMEs in order to control the unemployment rate!
(1) To introduce direct financial support to SMEs:
low-interest loan with no collateral to bridge cash flow gap and support daily operations of SMEs
to grant extra funding to banks to spur SMEs loans, to ensure that the capital flows of enterprises can cope with the next six months of operations and reducing the time required for banks to provide loan/credit approval
to exempt various license fees for the next six months, such as factory machines, business licenses, and road taxes for factories and commercial goods vehicles.
Investment incentives- MIDA to reduce the investment incentives which allow tax holidays given to large foreign enterprises such as Forest City in Johor Bahru and lower the approval criteria of such incentives to allow more local SMEs to be eligible.
to subsidize the Employment Retention Programme:
subsidize at least 25% of SMEs staff salaries, without having proof of a 50% drop in business income.
exemption on employers’ EPF contribution from April until December 2020
reduction on 2020 corporate income tax for SMEs that affected by the pandemic and MCO.
pay at least half the wage subsidy to the dismissed or unemployed staffs for a period of six months, or during the pandemic period, if the enterprises close down.
set up an unemployment fund to help employees who may have laid off after the MCO, in addition for unemployment benefits from SOCSO.
Rental waiver for SMEs at standard factories/premises owned by GLCs:
to provide 2-3 years rental waiver for the existing SMEs set up at standard factories/premises owned by GLCs such as Port Klang Free Zone and other industrial parks, and also for SMEs that wish to relocate to the GLC owned premises due to the inability to continue paying rental for the current business premises.
(2) Medical and protective supplies:
where local production is possible, the Government should organize all manufacturers (and relevant businesses that can convert some of their operation to augment production), to maximize production and coordinate distribution at one common price.
port clearance and delivery of essential supplies such as personnel protective equipment, sanitizer, detergents and medical equipment should be fast-tracked with minimum hindrances and red tape.
for facemasks and other supplies sought by ordinary citizens, the government should fix an affordable price (with subsidies to absorb the difference from cost price when necessary) and restricting purchase limit to consumers using national IDs to stop hoarding.
tests should be expanded to all high-risk groups, regardless of symptoms, and must be free for all citizens. Only absolutely necessary, non-citizens can be charged a minimal co-pay. Migrant and refugee organizations must be involved.
facemasks, soaps and sanitizers should be provided free for marginalized households and certain sectors (like homeless, foreign workers and refugees) to ensure some minimal protection and reduce the risk of transmission.
one Ministry should be put in charge of coordination, operating using a list of required end products provided by the Health Ministry.
suspend the planned SIRIM-DOSH certification requirement of PPE used in the country which is scheduled to go into effect in June 2020.
(3) To avoid panic buying which will fail the MCO
a clear identification of what constitutes essential services and their supply chains, which may be adjusted over time based on demand and supply.
a close and centralized monitoring of stocks to decide when the MCO may be eased for specific sector.
instead of a rigid 50% production, production should be adjusted based on demand and supply, with strict enforcement of hygiene measures backed by hefty penalties. Import, distribution and production of essential supplies such as food, PPE, sanitizer, soap should not be limited in capacity but instead allowed to even go beyond the current capacity to create strategic stockpiles.
exemption of non-essential services on finance and employment grounds must not be entertained. Exemption for one will lead to more requests.
one Ministry should coordinate.
the ministries should instead define essential services dynamically and quantitatively based on demand, inventory level and production cycle/travel time for imported materials.
the government must rise to meet the challenge by collecting and using big data to decide which industries need to partially resume operation to ensure no disruption of essentials, while keeping most of workforce at home to flatten the curve.
the permission to operate/deliver should be communicated to factory owners, workers, lorry drivers, etc. electorally via a secure app so that it can be updated on daily basis, rather than in paper format which is not possible for immediate and constant adjustment.
(4) Social safety net
sufficient support for daily income earners including foreign workers to ensure social order and no eruption of crimes.
welfare transfer for retirees instead of asking them to withdraw from their EPF’s second account.
withdrawal of 11% employee’ contribution for the past 6 months for all EPF contributors.
waiving/reduction of rates and fees charged by government for all SMEs and larger businesses that refrain from lay-off.
(From right,back row): China’s Ambassador to Malaysia Bai Tian, Finance Monister Lim Guan Eng and International Trade and Industry Minister Darell Leiking at the signing of the “China Special Channel” between InvestKL and Chinese business chambers here today.(Photo by Patrick Goh/The Edge)
KUALA LUMPUR (Jan 20): Malaysia and China's bilateral trade has hit another record high, rising to US$124 billion (about RM503 billion) for the full year 2019, said China's Ambassador to Malaysia Bai Tian.
Citing Chinese customer statistics, Bai said this is a 14.2% increase in bilateral trade from 2018's figure of US$108.66 billion (RM443 billion). China remains Malaysia's largest trading partner, followed by Singapore and the United States.
"Part of the huge bilateral trade is linked to the investments coming in, because when Chinese investors come to Malaysia to set up factories, they buy equipment from China. Once production increases, a portion of those products are then sold back to China in large percentages.
"I believe that will continue to boost bilateral trade going forward this year. Furthermore, 2020 is also the China-Malaysia cultural and tourism exchange year, so with more people coming in, Chinese investors will then have a better understanding of the country and this should encourage them to invest," Bai told a press conference today at the signing of the 'China Special Channel' between InvestKL and Chinese business chambers.
Earlier, InvestKL, a government investment agency under the International Trade and Industry Ministry, launched the China Special Channel (CSC) by signing a memorandum of agreement with four chambers of commerce and business councils — Malaysia-China Business Council, China Enterprises Chamber of Commerce in Malaysia, The Associated Chinese Chambers of Commerce and Industry of Malaysia, and Malaysia-China Chamber of Commerce.
CSC was first announced by Finance Minister Lim Guan Eng during the tabling of Budget 2020 last October, as the ongoing trade war between the US and China created a unique opportunity for Malaysia to be the preferred destination for high value-added foreign direct investments.
In his opening speech at the event earlier today, Lim said the channel will focus on attracting and supporting Chinese companies and global multinational corporations located in China looking to set up new base in order to expand into ASEAN, other parts of Asia or to the rest of the world.
"The CSC will be in the position to understand the investors' needs and to aid them in navigating the idiosyncrasies of a new country. All applications will be expediently accelerated through the right channels and agencies, which would include Malaysian Investment Development Authority (MIDA), Malaysia Digital Economy Corp (MDEC), regional and state investment promotions agencies, as well as various chambers of commerce and business associations." he said.
By Syahirah Syed Jaafar/theedgemarkets.com
January 20, 2020 14:21 pm +08
The Women Entrepreneurs Committee of Malaysia-China Chamber of Commerce paid a courtesy call on Deputy Prime Minister YAB Dato’ Seri Dr. Wan Azizah Wan Ismail on Friday 3 January 2020 in Deputy Prime Minister office.
KUALA LUMPUR: The Women Entrepreneurs Committee (WEC) of Malaysia-China Chamber of Commerce (MCCC) paid a courtesy visit on Deputy Prime Minister to explore how the government and MCCC could collaborate to assist or support women entrepreneurs and SMEs.
WEC Chairperson Helen Seibt, during their first visit to Deputy Prime Minister said that the women entrepreneurs should be valued women entrepreneurs rather than just successful women entrepreneurs.
“MCCC is a multi-ethnic NGO, we welcome non-Chinese speaking community to join us and we are ready and happy to assist and to jointly explore new opportunities and new businesses especially China market.” Helen Seibt said.
She further added that the growing Muslim population in China is a good opportunity to commercialize halal products into China. MCCC is always acting as a bridge between Malaysia and China in promoting interaction, cooperation and development in trade, investment and other industrial and commercial fields.
YAB Dato’ Seri Dr. Wan Azizah asserted that in line with the 2020 Malaysia-China Cultural Tourism Year, the both sides can cooperate in the arts and tourism, as well as the technical and software fields.
YAB also stated that in Budget 2020, SME Bank will allocate RM200 million fund especially for women entrepreneurs and RM300 million to support SMEs with the potential to become regional champions.
YAB believes that today's women entrepreneurs should not only remain optimistic at all times, but also provide timely assistance to those in need.
Also present were Datin Paduka Dr. Tan Yew Kee, the Member of Parliament for Wangsa Maju, Dato’ Dr. Angie Ng, the Deputy Chairperson of WEC and Datuk Emily Tan, the Vice Chairperson of WEC.
(Left) Yong Kai Ping: sharing knowledge on e-Commerce trend. (Right) Eugene Roy Joseph: sharing knowledge on Branding Strategy and IP.
Eugene Roy Joseph, founder of Joseph Chamber has been practicing intellectual property (IP) for more than 20 years and Yong Kai Ping, CEO of SITEC is a serial entrepreneur and veteran journalist with 15 years of experience under his belt. The informative and interesting talk that presented by the two speakers has attracted 60 attendees.