Southeast Asian (SEA) companies’ appetite for mergers and acquisitions (M&A) is at a multi-year high amid optimism that business will recover from the COVID-19 pandemic as early as this year or the next, according to an EY survey.
The consulting firm’s latest Global Capital Confidence Barometer survey shows that over half, or 56%, of respondents in SEA are looking to actively pursue M&A in the next 12 months — the highest proportion since 2012 and also higher than the 11-year average of 44% in past surveys.
The respondents, who comprised business executives, seem to be looking within their own region for M&A opportunities. Just under half (46%) expect that SEA will generate the most growth prospects and opportunities for their company in the next three years, followed by India (18%), Japan (15%) and Oceania (11%).
US-based semiconductor manufacturer Intel Corp said today its Malaysian operations are now harnessing solar energy to help power its six buildings across its Kulim and Penang campus and that the project is Intel Inc’s largest solar farm outside of the United States.
In a statement today, Intel said its solar farm in Malaysia is helped by a new 3.2MW solar installation completed in January this year.
“The installation is achieving 4.1MW in total installed capacity which is provided by NEFIN, a renewable energy developer.
Read More: https://www.theedgemarkets.com/article/malaysia-home-intels-largest-solar-farm-outside-us
For Administrative Professionals and Secretaries Day, AMCHAM held a short and fun program to celebrate these heroes working behind the scenes. The session started off with a fireside chat featuring three Executive Assistants: Anusha Kumar, Executive Assistant, CEO’s Office, ADA-Asia; Christyne Tyller, Executive Assistant to Country President, Novartis Corporation (M) Sdn. Bhd.; and Vicky Poon, Executive Assistant, Oracle Corporation Malaysia Sdn. Bhd. From varied professional backgrounds and levels of experience, the three talked about their professional journeys and the challenges they faced and worked through from a sudden shift of working in the office to working from home during the Movement Control Order last year. Multi-tasking, keeping a calm mindset, adapting to changes and making them work, and taking on roles that are not within their comfort zones were some of the mentioned traits of a great Executive Assistant.
The second session featured Asha Gill, Life Coach, Hypnotherapist, Speaker, Confidence Builder, and Breakthrough Collaborator. Asha managed to capture the audience’s attention by getting them involved in an activity to lead them into a “helpful headspace”—diffuse stress, calm the mind, and then deal with work better.
This was truly an engaging session and we hope that those who attended found it beneficial as much as we did and we hope that you will be able to apply some of the learnings from today’s session in your work.
A special thanks to our speakers for the words of encouragement and advice.
Siobhan Das, CEO of AMCHAM, was delighted to be on the panel at World Bank’s webinar “Aiming High – Navigating the next stage of Malaysia’s Development”, held on 20 April. This webinar coincided with the recently launched World Bank report.
Siobhan Das was joined by Dato’ Sri Norazman Ayob, Deputy Secretary-General (Industry), Deputy Secretary General’s Office (Industrial Development), Ministry of International Trade and Industry (MITI); Dr. Sumitra Nair, Vice President and Head – Digital Skills and Jobs, Malaysia Digital Economy Corporation (MDEC); and Ganesh Kumar Bangah, Founder & Executive Chairman, Netccentric Ltd., with Cecile Thioro Niang, Practice Manager, Finance, Competitiveness, and Innovation, World Bank Group, moderating the session.
It was a robust discussion among the panelists addressing areas of boosting competitiveness and creating jobs in Malaysia as well as the steps required for growth, innovation, and attracting foreign investment. The discussion also centered around talent and digital skills to meet the current demands and how to drive foreign investment into Malaysia.
New investors cite the fact that their partners have an existence in Malaysia as one of the reasons for choosing Malaysia. Happy investors are the most important factor drawing in potential new investors. A high-skilled and English-speaking workforce has also been a positive point for attracting FDIs.
AMCHAM would like to thank the World Bank for inviting us to be on the panel and we look forward to future collaborations. Thank you to all our members as well for participating in this morning’s session.
AMCHAM held a briefing session on Safe@Work an initiative by the Ministry of International Trade and Industry (MITI) on 20 April. MITI has taken a proactive and responsive step by introducing a comprehensive initiative known as Safe@Work aimed at balancing the operational sustainability of the manufacturing sector with the control of the spread of the pandemic among workers. Safe@Work is a Standard Operating Procedure (SOP) that can be implemented by companies in the manufacturing sector requiring employers to provide safe accommodation for employees as well as comply with standards under the Minimum Standards of Accommodation and Housing for Employees Act 1990 (Act 446).
Vimala Murugan, Director for Sectoral Policy Division, MITI covered all aspects of the initiative, particularly how it affects companies in the manufacturing sector, and allowed for attending members to learn more about the initiative and raise questions as well as concerns with the guest speaker.
AMCHAM would like to thank Vimala Murugan for taking the time off her busy schedule to brief our members and we hope that members were able to address all their questions to Vimala.
EY has released its latest tax alert issue (No. 8/2021). This issue covers:
Malaysian developments
- Guidelines and procedures for the application of special investment tax allowance (ITA) for the Electrical and Electronics (E&E) sector
- Guidelines on income tax exemption for religious institutions or organizations pursuant to Income Tax (Exemption) Order 2020 [P.U.(A) 139/2020]
Overseas developments
- Japan enacts 2021 tax reform bill
- Philippines enacts law reducing corporate income tax rates and rationalizing fiscal incentives
