Recognising the characteristics of climate-related risks, Bank Negara Malaysia (“BNM”) has issued the Exposure Draft on Climate Risk Management and Scenario Analysis (“Exposure Draft”) which sets out the principles and specific requirements on the management of climate-related risks by financial institutions, with the aim to enhance the resilience of the financial sector against climate-related risks. Any feedback on the Exposure Draft can be submitted to BNM by 31 March 2022.
AMCHAM released the findings of its 2020/21 Economic Impact Survey, capturing the contribution from 80 AMCHAM member companies to the Malaysian economy. This special event was graced by the presence of YB Dato’ Sri Mustapa Bin Mohamed, Minister in the Prime Minister’s Department (Economy), as well as His Excellency Brian McFeeters, the U.S. Ambassador to Malaysia.
The survey found that the 80 companies that participated, making up almost 30% of AMCHAM’s membership, have invested, in historical FDI, a total value of RM165.73 billion into the Malaysian economy.
Chairman of AMCHAM, Antony Lee, expressed that the survey highlights the commitment of American businesses to helping create a thriving business environment that creates jobs and opportunities for Malaysians.
“AMCHAM members continue to play a critical role in Malaysia’s growing success locally and on the global stage; this commitment has integrated many local companies into American supply chains around the world, supporting a strategy of developing ‘local for global’,” Lee said.
For more insights from the report, head here
To view photos from the event, head here
The 2020/21 Economic Impact Survey captures the contribution from 80 AMCHAM member companies to the Malaysian economy encompassing FDI, job creation, knowledge transfer, and support of local SMEs. This survey covers manufacturing including E&E, services, agribusiness, extraction and energy.
Click here to download the report
AMCHAM hosted a Teh Tarik session with Dato’ Sri Norazman Ayob, MITI Deputy Sec-Gen (Industry). AMCHAM members and members from German, French, and Dutch Chambers were invited to attend the private session.
In this session, Dato’ Sri Norazman gave attendees insight into several pressing issues, including the current COVID-19 management – namely the Vaccinated Travel Lane (VTL) between Malaysia and
Singapore and the Safe@Work initiative. He also addressed talent mobility issues, the National Investment Aspirations (NIA), international trade, and more. Attendees were able to gain clarity on issues of the day, raise questions and give feedback directly to the MITI Minister to help ensure business operations run smoothly.
KUALA LUMPUR, Malaysia, 07 February, 2022 – FedEx Express Malaysia, the Malaysian operation of FedEx Express (FedEx), a subsidiary of FedEx Corp. (NYSE: FDX) and one of the world’s largest express transportation companies, recently received recognition from three awards, namely the ‘HR Asia Best Companies to Work for in Asia 2021’, the ‘WeCare: HR Asia Most Caring Companies Awards 2021’ and the ‘Sustainability & CSR Malaysia Awards 2021’.
For the ‘HR Asia Best Companies to Work for in Asia 2021’ recognition, FedEx achieved 100% employee response to the Total Engagement Assessment Model (TEAM) survey, an employee engagement survey that provides leaders and organizations insight into employee feedback on their working experience in a company through a series of in-depth questions. FedEx Malaysia claimed its spot on the awards list given that the preliminary survey results were well above the industry average in all categories. This is a testament to the company’s active employee engagement and exceptional workplace culture founded on three main pillars – CORE (leadership and organization), SELF (emotional engagement) and GROUP (team dynamics).
“We take great pride in our workplace culture and employee engagement, as reflected in the results of this survey. We have implemented several employee-focused programmes which aim to cultivate positive and inclusive workplace interactions. At FedEx, we are committed to supporting our people in reaching their fullest potential at the workplace, while staying engaged, motivated and passionate,” said SC Chong, Managing Director, FedEx Express Malaysia.
As part of the ‘HR Asia Best Companies to Work for in Asia 2021’ industry recognition platform, FedEx also received its inaugural ‘WeCare: HR Asia Most Caring Companies Awards 2021’ award, in recognition of empathy and care being part of the organisation’s DNA and workplace excellence. The 2021 WeCare award was presented to only 10 companies out of 270 companies in consideration this year, ranging from multi-national corporations to small and medium businesses.
Award organiser, HR Asia, Asia’s most authoritative publication for Human Resource professionals, in conjunction with Business Media International (BMI), has run the Total Engagement Assessment Model (TEAM) survey for almost a decade, becoming one of the largest employee engagement surveys across Asia. At present, they have surpassed 2 million participants in major Asian markets such as Cambodia, China, Hong Kong, Indonesia, South Korea, Malaysia, Philippines, Singapore, Thailand, Taiwan, India and Vietnam.
FedEx was also an awardee at the ‘Sustainability & CSR Malaysia Awards 2021,’ in recognition of its longstanding efforts in educating and inspiring young talent to cultivate an entrepreneurial mindset and creative thinking in international trade through its FedEx Express / JA International Trade Challenge (FedEx Express / JA ITC) and Young Enterprise (YE) Programmes. To date, both programmes have impacted over 8,000 students in Malaysia.
The ‘Sustainability & CSR Malaysia Awards 2021’ recognises corporations that have the vision and commitment to creating a positive impact through corporate social responsibility initiatives that contribute to socio-economic transformation in Malaysia. The nominees were assessed in areas such as clear CSR purpose and goals, programme impact, frequency of CSR events, contribution amounts, transparency in reporting CSR initiatives, creative implementation, strength of the CSR team and sincerity and effectiveness of each initiative.
“I’m greatly humbled by our triple-award win, which has only been possible due to the dedication and commitment of all our employees. Our biggest asset is our employees and we are constantly seeking ways to improve their experience. This is part of our ‘People-Service-Profit’ (PSP) philosophy where we believe in taking care of and supporting our employees, which in turn enables them to provide outstanding customer service, thereby growing profit. We also believe that volunteerism and giving back to the local communities are fundamental to the employee experience. We want to help shape the leaders of tomorrow and have been focused on programmes that inspire young aspiring entrepreneurs who can build the successful businesses of the future,” concluded Chong.
Malaysian companies must critically address and refresh the cyber security technologies and solutions they use, according to findings of the latest study by Cisco Systems Inc. Dubbed Security Outcomes Study Volume 2, the Cisco study claimed that 60% of cybersecurity technologies used by companies in Malaysia are considered outdated by security and privacy professionals working at these organisations.
