Businesses today are making good progress in developing cyber prevention and response programs. However, latest reports from KPMG found that appropriate recovery capabilities continue to be lacking as business-continuity planning is not keeping pace with the evolving cyber threat landscape.
Ransomware attacks, which spread across the network and encrypt data, are soaring worldwide. Organizations in Malaysia are caught in the same net, as evidenced by the ransomware attack reported in November 2022 involving a leading budget airline, which compromised the personal data of five million passengers and employees.
A small delegation of AMCHAM Members met with MITI’s Deputy Minister Chin Tong Liew and his bilateral / trade / investment teams. We had a productive discussion on the opportunities for growing U.S. investments even further. Malaysia is experiencing the benefits of early long-term commitments by US companies, made 50+ years ago, by some crucial early movers: a localized talent and resource base with 2-3 generations of trained skilled workforce and a deep and growing eco-system keep Malaysia part of many US value chains.
Discussions expanded to highlight the challenges and opportunities of 21-century business models and new imperatives and the need to continue the collaborative working relationship the Chamber has with MITI especially around access to skilled talent, capturing high-value business by working together to realize Malaysia’s sustainability pathway with good ESG practices which will, in turn, attract sustainable investments/FDI.
Intel Malaysia has released its Q4’22 CSR Newsletter where they highlight how Intel gave back to the communities and the nation in 2022 as part of their journey in celebrating our 50th anniversary here in Malaysia.
Trademark Protection in Malaysia is mainly governed under the Trademarks Act 2019 (“TMA”) and the Trademark Regulations 2019 (“TMR”). On 27 December 2019, the TMA and TMR came into force, repealing the previous Trade Marks Act 1976 and Trade Mark Regulations 1983. Both of these governing laws are administered by the Intellectual Property Corporation of Malaysia, also known as MyIPO. Being an agency under the purview of the Ministry of Domestic Trade, Co-operatives and Consumerism, MyIPO is responsible for the development and management of the intellectual property system in Malaysia. To further assist the trademark matters in Malaysia, MyIPO has also issued the Manual of Trade Marks Law and Practice in Malaysia, Guidelines of Trademarks 2019 and Practice Directions which shall be read together simultaneously with the TMA and TMR.
This article by Azmi & Associates lists the governing laws surrounding trademarks in Malaysia, who can apply for a trademark and more.
The Sanctions Implementation and Enforcement Workshop will educate relevant stakeholders and industries regarding United Nations Security Council Resolution sanctions, the impact of trade restrictions on UN Member States and industry, as well as due diligence mitigation strategies.
Discussions will focus on importance of securing supply chains & private transactions against sanctions violations through understanding evasion typologies including, but not limited to, commodity diversion, use of civil transport for sanctioned military purposes, shell companies, and illicit ship-to-ship transfers of sanctioned commodities. Finally, participants will examine risk-based approaches for due diligence to enhance compliance programs and reduce sanctions risks.
Discussions will include:
- United Nations Security Council Resolution sanctions overview, the impact of trade restrictions on the Member State governments and domestic industry, and the consequences for non-enforcement and non-compliance
- Cases studies demonstrating sanctions evasion tactics of sanctioned entities to better detect and prevent illicit practices
- Importance of governmental and private sector communication and collaboration to harden supply-chains
- Risk-based approaches for due diligence to enhance your firm’s compliance program and reduce sanctions risks.
Click here for agenda
The 2022 Membership ESG Progress Report (here in referred to as “the Report”) is a report undertaken by the American Malaysian Chamber of Commerce (AMCHAM), advised by PwC Malaysia. The Report aims to call attention to the annual Environmental, Social and Governance (ESG) performance of member companies, as well as to address opportunities and challenges faced by local and international organisations from rising global demands for more ethical and sustainable business practices.
Insights gathered for this report is for the most part, from a survey of 32 member companies from various industries, majority of which are American Multinational Companies (MNCs) operating in Malaysia. The survey was carried out from April to early May 2022. Additional information was gained from available ESG or Sustainability Reports already published by survey respondents, group and individual discussions held with multiple industry players and consulting companies in the membership, from late December 2021 to early May 2022.
