Cisco, the worldwide technology leader, announced the appointment of Hana Raja as Managing Director for its Malaysia business. Ms. Raja will focus on accelerating digital transformation of customers across the country, working closely with Cisco’s partner ecosystem.
Ms. Raja brings with her 12 years’ experience in strategic planning, business management and leadership roles across various sectors. Most recently, she led Cisco’s Strategy and Operations for ASEAN over the past two years while based in the Kuala Lumpur office.
Ms. Raja has played a key role in driving Cisco’s growth across the region in recent years through a structured approach in strategy development, commercial excellence, performance improvement and behavior change. Following her appointment, she aims to drive sustainable long-term growth for Cisco Malaysia.
AMCHAM had an early start today participating in HSBC’s webinar: E&E Industry in Penang, Malaysia: Way Forward. The event featured Dato’ Seri Lee Kah Choon, Special Advisor to the Chief Minister of Penang; Andrew Sill, Country Head of Commercial Banking, HSBC Malaysia; Vishal Karanwal, Country Head of International Subsidiary Banking, HSBC Malaysia; and Debra Lodge, Managing Director, Head of Corporate International Solutions, HSBC USA; and our very own Siobhan Das, CEO, AMCHAM. This webinar is HSBC Malaysia’s first flagship event catering to the U.S. audience, in collaboration with InvestPenang and AMCHAM.
The discussion centered around the E&E industry in Penang, the Silicon Valley of the East. Panelists dove into the history of Penang as an investment hub as early as in the late 60s, since the arrival of the eight pioneer foreign companies also known as the ‘8 Samurais’ out of which 4 are U.S. companies. The state government of Penang has attracted major multinational companies in the E&E industry through a well-designed investment promotion strategy, infrastructure development, skills development and more.
Panelists also highlighted the current challenges in Malaysia amidst the pandemic and the 18-month lockdown since last year which caused major disruptions in the global supply chain as well as the on-going talent shortage.
We hope that the panel discussion provided an overview of the opportunities as well as the challenges to potential investors who are considering investing in Penang. Special thank you to HSBC for inviting AMCHAM and we look forward to future collaborations.
Since inception, Environmental, Social, and Governance (ESG) factors have been at the heart of Christopher & Lee Ong’s (“CLO”) approach, not only within the Firm but to doing business as well. With the push and call for action by both the public and private sectors in Malaysia and other countries on various sustainability issues, including global health and social well-being, tackling of climate change and environmental issues, and transparency in corporate governance, the assimilation of these factors into our operations have translated for better outcomes for our clients, our people, and the wider community. This is well reflected in our support and advocacy in addressing the United Nation’s 17 Sustainable Development Goals (SDGs), especially SDG #16 on Peace, Justice and Strong Institutions.
Internal Trainings & Initiatives
With the increasing awareness that economic crimes have far reaching costly effects, CLO has since established two strong practices, our Ethics & Integrity practice and White Collar Crime & Investigations practice, to continue promoting a culture of compliance, transparency, and accountability. The aim of these practices is to assist clients in navigating their compliance obligations under the law and applicable regulations and guidelines, carrying out internal investigations and providing appropriate risk mitigation & prevention strategies, as well as developing and improving internal protocols and compliance programmes tailored to industry and company needs. Being part of the Rajah & Tann Asia Network also allows us to tap on the expertise of our regional Fraud, Asset Recovery, Investigations & Crisis Management (FICM) team to assist clients in tackling some of their most pressing concerns, particularly in scenarios where they are the aggrieved party.
In advocating for strong and robust corporate governance, a positive change needs to start from within. Within the Firm, we continue to practice what we preach by instilling strong policies and standards on anti-bribery and anti-corruption which we expect our clients and employees to adhere to. We’ve also established an anonymous whistleblowing system, to provide a safe and secure avenue for any wrongdoing within the Firm to be reported. We also conduct regular trainings for our employees to get a firm grasp of the various applicable laws in Malaysia with regards to bribery and corruption, especially on what constitutes offences under the relevant regulations, as well as the consequences that could apply if one were to be found guilty. All these initiatives are to ensure that members of the Firm have a good understanding of the law and are alert to any potential issues or misconduct.
External Client Trainings and Conferences
In the past 12 months, CLO has been called upon to put together in-depth corporate governance trainings for clients, as well as to present at major conferences and events hosted by prominent institutions, on topics revolving around the theme of corporate compliance and governance. Some of the key speaking engagements include:
- Corporate Governance Regulatory Updates for the Capital Markets
We were involved in putting together a structured and comprehensive programme on corporate governance laws and regulations for capital markets, which was presented at the Asia School of Business, a global knowledge and learning centre established by the Central Bank of Malaysia (BNM) in collaboration with MIT Sloan. The programme took a deep dive on recent changes to the Companies Act 2016 and the Listing Requirements of Bursa Malaysia, as well as pertinent aspects of the Malaysian Code on Corporate Governance issued by the Securities Commission Malaysia, including discussions on various case studies on corporate fraud, insider trading and market manipulation. The programme was attended by board of directors, compliance officers, and legal counsel from various corporations.
- MIA Virtual Capital Market Conference 2021 – Evolution of Capital Markets
Organised by the Malaysian Institute of Accountants (MIA), the national accountancy body of Malaysia, one of our partners was a co-speaker on the topic ‘Breaches of the Capital Market Laws’ which included discussions on insider trading laws and conduct of directors that cause wrongful loss to a company. The conference saw close to 250 C-Suites levels, Managing Directors, and Head of Governance from various large corporations attending.
Client Updates & Thought Leaderships
In our efforts to ensure that the wider community stays informed and have access to market updates on sustainability issues, we have issued a plethora of alerts and think pieces under the ESG umbrella, addressing various concerns from clean energy and sustainable financing, right up to the advocacy of greater transparency and accountability for a strong ethical corporate governance. In seeking to contribute towards the goals under the UNSDG #16 on Peace, Justice and Strong Institutions especially on building effective, accountable, and inclusive institutions at all levels, we’ve issued the following write-ups in the area of corporate governance:
- The Enforcement of Accounting Fraud under the Capital Markets and Services Act 2007 – an opinion piece that was published on print on The Edge Malaysia, a leading business and financial publication in Malaysia and Singapore, on August 1, 2021.
- Compliance with Environmental Laws: Road Towards Achieving a Healthy and Sustainable Triple Bottom Line
- Whistleblower Protection Act 2010: Sustainable a Decade on?
- A Trial Extraordinaire that Breaches Malaysia’s Legal Frontiers – The SRC Trial
- First Corporate Liability Charge under the Malaysian Anti-Corruption Commission Act 2009 – What Directors Need to Know
The aggressive steps taken by global economies in curbing unethical business practices serve as a wake-up call to corporations globally and locally for the need to institute strong and robust corporate governance measures in their dealings, not only within the organisation but externally as well. CLO aims to continue contributing to society at large by upholding the drive and push to promote a culture of compliance, transparency, accountability, and all-around better corporate governance, and to continue supporting our clients in addressing their concerns and issues in this regard.
At The International School of Kuala Lumpur (ISKL), we believe that our students are our future. As young people exposed to a range of cultures and international experiences, they are uniquely placed to be global leaders in sustainable development and social justice, now and in the future. ISKL prioritizes developing in our students, from their earliest years, an understanding of not only the challenges facing our world, but the part they can play to truly make a difference.
Diversity, Equity, Inclusion and Justice – DEIJ – is central to our philosophy. Our faculty encourage and support students, through both the curriculum and elective activities, to become aware of the constraints on DEIJ in communities around the world, including here in Malaysia, and to step up to become advocates for others. Among the many initiatives is the annual Social Change Makers Conference in Grade 5, where students meet champions of change in communities and on important issues facing Malaysia. Our Prep Senior students learn about the plight of sun bears captured and farmed for their bile, and fundraise to support the organizations pushing for change. Meanwhile, in Middle School, abiding by Covid-19 restrictions, this year students conceived, planned and ran Earth Week activities exploring, in fun ways, the impacts on communities of sustainable practices, and how they can play their part to create a better future for all.
As our students mature, they also have the opportunity to gain a deeper, practical understanding of the institutions that support civil society, and the skills they need to participate. The Model United Nations, held virtually this year, along with the Young Investors Society are just two examples of how students are able to immerse themselves in real-life scenarios and better appreciate the workings of important institutions. This, supported by a rigorous and always evolving curriculum, is how ISKL is developing in our students the attributes of successful, responsible global citizens.
Cities are now outperforming national housing markets, with 43 cities registering an annual price growth above 10%, up from just one year ago, according to Knight Frank’s latest report Knight Frank’s Global Residential Cities Index, published in July.
The report also confirmed that average prices across 150 cities are rising at their fastest rate since 2007.
In a statement, Knight Frank Malaysia international residential project marketing associate director Dominic Heaton-Watson said: “Far from underperforming their national housing markets, as many expected a year ago, cities are now outpacing them.”
