Sime Darby Bhd’s acquisition of Salmon Earthmoving Holdings Pty Ltd (SEH) is expected to complement and strengthen the company’s existing industrial business in Australia, according to the analyst.
Hong Leong Investment Bank (HLIB) Research said the acquisition would allow Sime Darby to expand its market into the civil construction sector and the New South Wales region.
Currently, Sime Darby focuses more on the Queensland region. “Sime Darby will continue to look out for more pockets of acquisitions to complement and enhance its core segments, i.e. industrial and motor business in existing geographical regions,” it said. Sime Darby is acquiring Salmon Australia for RM327 million, which will be completed by August 2021.
Key players in the commercial property industry are optimistic about the logistics and healthcare sectors but remain cautious on the traditional retail and office segments as well as the hotel/leisure industry, according to Knight Frank Malaysia’s Malaysia Commercial Real Estate Investment Sentiment Survey (CREISS) 2021 released on June 7.
According to Knight Frank Malaysia, the severe disruptions to supply chains globally, which revolutionised e-commerce services, continue to drive the logistics sector while the critical need for good medical and healthcare support amid the pandemic coupled with attractive tax incentives is expected to see growth in the healthcare sector.
AMCHAM was invited to join in an InvestKL briefing on the Public-Private Partnership Industry Immunization Program (PIKAS) program given by Dato’ Sri Norazman Ayob, Deputy Secretary General (Industry) from Ministry of International Trade and Industry (MITI) earlier this afternoon.
MITI has targeted for 90% of manufacturing workers to be vaccinated under PIKAS with the remainder 10% constituting leeway for those who have been vaccinated under the National COVID-19 Immunisation Programme (PICK), or those who choose not to, or are unable to be vaccinated due to health reasons.
To-date, MITI has received approximately 4,000 applications amounting to around 600,000 workers.
Key takeaway points from the Q&A session:
- The target timeframe is three to four months (by end-September) to achieve their target mentioned above, with priority given to states and areas categorized as COVID-19 red zones e.g. Selangor, Kuala Lumpur, Johor, Penang, and Perak.
- Follow the given vaccination date and time to avoid delays. Once an employee is confirmed to be vaccinated, the company in charge will be notified and a notification will also be issued via MySejahtera to each individual on the date and time.
- Changes to vaccination date and time is possible for certain circumstances e.g. if the employee falls ill. The company should make arrangements with the PPV operator.
- PIKAS is currently only for the manufacturing sector and manufacturing-related services including Oil & Gas.
- There is no choice in vaccines as it is dependent on the supply received from the Ministry of Health and Ministry of Science, Technology and Innovation (MOSTI).
- Revise your employee list on the PIKAS website if there are any changes due to employees receiving dates through PICK.
- No delays will be caused due to re-application through the PIKAS website, and companies are encouraged to do so, if they have not done so already.
- Short-term expatriates are advised to get vaccinated in their home country whereas long-term expatriates are encouraged to do so here in Malaysia through PIKAS or PICK.
The final day of AMCHAM’s Sustainability Week centered around Becoming Sustainable. Today’s session revolved around the journey of transitioning from traditional business models into a more sustainable one. Our guest speakers shared what their respective organizations did to achieve this.
Lorna Davis, Global Ambassador B-Corp, shared insights into what her organization does and how businesses she encountered over the years made the decision to transform themselves to meet sustainable goals. She ended her session with a short but strong message by reminding everyone that simply taking small steps can lead to big changes in the long run.
David Hashim, Founder, VERITAS Design Group, presented on his organization and how they have become a sustainable business, showcasing their initiatives and partnerships to achieve this.
The third and final session of the day involved Paul Fong, Country Director, Dow Chemical, SH Teo, Sustainability Lead, Unisem (M) Berhad, Murray Aitken, General Manager, Hard Rock Hotel Desaru Coast, and Ezmir Hazizi bin Azhar, Public Affairs Manager at Dutch Lady Milk Industries Berhad moderated by David Hashim. Each of the panelists shared their respective organizations’ initiatives into becoming sustainable showcasing practical guidelines, best practices, business models as well as challenges faced along the way.
The fourth and final day of AMCHAM’s Sustainability week was another great session and very meaningful as all our guest speakers showed us how becoming a sustainable organization can be a reality. Special thanks to our event partners Philip Morris Malaysia, Accenture, and First Solar for supporting this weeks’ program. Your contribution has made this event a success along with all our speakers featured in the last 4 days and not to forget our participants.
Thank you once again for a successful finale.
The emergence of technology with borderless access discovers a new spectrum of world to mankind – the virtual world. Thanks to technology, our daily activities and businesses are facilitated, simplified and accelerated. However, with the advancement of technology, dangers and threats through the virtual world are more imminent. As technology evolves and the medium revolves, various new cyber-related criminal offences emerge. With a single click, one could be a victim of cyber-criminal offences without knowing any information about the offender.
Ransomware attack is one of the biggest threats against preservation of information assets or systems. Ransomware can be described as a kind of malware that prevents users from accessing their computing device resources and/or personal data using various methods. The data on the victim’s computing device becomes unusable until the device owner pays ransom to remove the restriction[1] and regain access to the hijacked system. In 2018, CyberSecurity Malaysia through Malaysia Computer Emergency Response Team (“MyCert”) has reported 62 ransomware incidents involving different kinds of variants from Malaysian and non-Malaysian parties[2]. According to Sophos’ global survey made on several Malaysian bodies and institutions, “The State of Ransomware 2021”, 58% of the respondents stated that ransomware is already so prevalent that it is inevitable they will get hit and 41% of the respondents stated that they are already experiencing an increase in attempted ransomware attacks.
Following the Cabinet meeting chaired by the YAB Prime Minister today, the Ministry of International Trade and Industry (MITI) moved swiftly to implement the Cabinet’s decision soonest by convening further discussions with the Minister of Finance and the Minister at the Prime Minister’s Department (Economy). In this regard, MITI wishes to inform that the Electrical & Electronics (E&E) sector and its supply chains; Aerospace sector (Maintenance, Repair and Overhaul (MRO)); Machinery and Equipment (M&E) sector for the production of healthcare and food products; as well as the key food and beverage manufacturing companies are now allowed to operate in localities subject to the Enhanced Movement Control Order (EMCO) in Selangor, starting today, 7 July 2021.
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List Of Essential Food & Beverage Manufacturing:
