On 5 September, AMCHAM held an exclusive talk with Steve Okun, Founder and CEO of APAC Advisors as well as serving as a Senior Advisor to global strategic consultancy McLarty Associates.
The session provided attendees with a lot of depth to the ongoing trade war between the United States and China, the tactics used by both parties, along with the possible outcomes. Attendees were also able to learn which group/country could benefit from the trade war and what to be cautious about. He also enlightened the attendees as to what indicators to watch out for in the coming months.
KUALA LUMPUR, September 4, 2019 – The American Malaysian Chamber of Commerce (AMCHAM) and its Malaysian American Electronics Industry (MAEI) Committee is proud to release the results of the 12th Edition of our Economic Impact Survey (Electrical & Electronics Sector). The 2019 Economic Impact Survey captures the contribution from 37 American electrical & electronics businesses to the Malaysian economy encompassing FDI, job creation, knowledge transfer, and support for local SMEs.
Malaysia’s E&E sector is well equipped to compete on the world stage; we today stand as the seventh-largest E&E exporter in the world. More than 100,000 jobs are created in Malaysia by the E&E members in our membership. These roles are heavily localized – a full 74% of companies surveyed have more than 90% of roles within their company filled by Malaysians. Many of these are in high-skilled specialized roles, demonstrating the commitment of our members to developing Malaysian talent.
Spending on R&D reached RM 4.89bn in 2018, demonstrating the ongoing commitment of U.S. companies to developing new technological solutions here in Malaysia. Malaysia supports four global R&D centers, four regional R&D and 14 R&D support centers. 2018 saw six new R&D initiatives and Centers of Excellence being brought to Malaysia.
Overall the industry showed a positive outlook with 68% of respondents indicating expected revenue growth and 77% anticipating a growth of investment over the next five years.
The most striking data point relates to the collective trade-in-goods surplus registered by our member companies, which stands at RM 130bn. Malaysia’s overall trade surplus for 2018 was RM 120.27bn, suggesting that these 37 companies contribute largely to the difference between Malaysia recording a trade surplus or trade deficit.
The Survey also captures the ways in which American companies support the growth and development of local SMEs. Total spending on locally-sourced goods and services by our respondents amounted to RM18bn last year – on average, just one American MNC will have supply relationships worth at least RM100k per year with almost 250 local businesses. Half of the respondents had active vendor programs impacting around 135 local companies.
AMCHAM’s MAEI Committee looks forward to enhancing our engagement with the Malaysian government on matters relating to trade and investment policies. Together we can ensure that Malaysia positions itself to continuously attract new product lines and higher value-added processes from our E&E manufacturers as well as from new market entrants looking for an internationally competitive investment location.
Download your copy of the report!
On 29 August, AMCHAM hosted a roundtable session on the subject of navigating personal income tax and Malaysian Immigration requirements and regulations.
The event was conducted by PWC Malaysia with the participation of their U.S. tax expert from Hong Kong. Presentations were made about the Malaysian immigration laws for foreign nationals working in Malaysia, and taxation liabilities for U.S. Citizens from both the Malaysian and U.S. perspectives. The program allowed the participants to engage in a lively Q&A with the experts from PWC, sharing their experiences and gaining useful insights into current immigration and taxation laws.
Rami brings 22 years of experience with international schools in Asia, Africa, and Europe. He has provided customized educational consulting to numerous schools across the region on governance, leadership, strategic planning, and improvements in student learning. Rami joined ISKL from Ecole Mondiale, Mumbai, India where he served as Head of Secondary School. He has been a teacher and a leader at ISKL since 2009.
1. How would you describe your management style?
My management style focuses on inspiring others and communicating our purpose. I believe the role of a leader is to build capacity in others and to nurture their growth. My leadership approach centers around creating shared values and vision, and empowering teams which in turn builds organizational trust, focus, agility, and growth.
2. What inspires you the most and why? How have you incorporated that into your daily life?
I deeply believe that education can transform the world and I am inspired by the passions, dreams, and achievements of the students under our care. Watching them grow, discover their skills, and shape their character to become healthy, and successful contributors to the world around them is one of the highest values of education. I incorporate this into my daily life by seeing potential in others and focusing on the possibilities they have to grow, learn, and serve. I believe the ultimate purpose of school is to guide students to live a life where they are doing something they are passionate about, which they are good at, that makes the world a better place, and where they can earn a living from doing it.
3. How do you see your organization changing in two years, and how do you see yourself creating/being a part of that change?
Research studies about the future awaiting our students highlight an increasing importance on the development of social-emotional skills. self-knowledge, emotional regulation, and social awareness are key for developing other cognitive skills such as creativity, communication, critical thinking, and collaboration. ISKL is moving intentionally along the path of individualizing learning, developing these key skills, and prioritizing the value of having a positive impact on others and the environment. We live in a world where we have to be problem finders and solvers. Hence, learning at school needs to provide students with similar opportunities through the problem-based-learning framework. My role is to listen, understand the different perspectives of our community whilst remaining focused on our purpose, and creating the optimal environment to lead the change.
4. Tell me about an accomplishment or a memorable incident that shaped your career. What would we be surprised to learn about you?
My career began as a music teacher in school. Many years ago, in a school in Zambia, I was given the opportunity to teach mathematics whilst I was still a student studying this subject. That opportunity has opened doors throughout my career. I became a passionate mathematics teacher, a math trainer and examiner for the International Baccalaureate program. From there I became an education, leadership, and governance consultant working with schools around the world. I am forever grateful to the mentor who trusted me and I have learned to do the same for others.
5. What book are you reading or podcast you most recommend?
I am currently reading Governance as Leadership which is a great book for leaders in non-profit organizations.
6. What do you do for fun?
I dance zumba (at least I try to!) and find great enjoyment in playing the piano.
AGCO GSI (Malaysia) Sdn Bhd is a subsidiary of AGCO Corporation of America under the division of AGCO Grain & Protein supporting the business in Greater Asia. The company was established in 1995 as a regional office in a double-story shop house in Prai, Penang. It was a sales, service and spare-part centre. Today, we are officially known as AGCO GSI (Malaysia) Sdn Bhd with a full-fledged manufacturing factory of over 120,000 square feet in Bukit Minyak Industrial Park, Penang with more than 250 people.
The new plant consists of two buildings, one is the manufacturing and engineering centre, which is the heart of product design and production and the other is our sales and logistics centre which services clients all over Greater Asia. We have dealers and our localized teams in each region; which include sales team and engineering team.
Through the years of growth and innovation driven by specialists in their respective fields, we have helped hundreds of growers and farmers in the region, rising to be the leaders in the livestock industry. Our Grain & Protein brands are; GSI and Cimbria to provide total solutions for grain storage and seed processing, Cumberland for poultry building and equipment, Automated Production for a complete solution in swine production and Tecno for commercial egg production.
We believe AMCHAM plays an important role in representing American company interests here in Malaysia. It represents our business needs, voices, and concerns especially regulatory changes that may impact our business. The network of business associates with AMCHAM certainly offers vast connectivity that can be of mutual benefit for all.
AGCO Grain and Protein Malaysia have been in the region for the past two strong decades and we look forward to mark the year 2020 to celebrate our 25th anniversary.
For more information please visit: http://gsiasia.net/ or email us at [email protected]
The 2019 MY AMCHAM CARES survey has been officially launched! The survey will run from 28 August to 30 September 2019.
Companies participating in this survey, will be considered for CSR recognition under MY AMCHAM CARES at the upcoming Thanksgiving Luncheon 25 November. Each company may submit only one survey. If you have completed the CSR survey in 2018, we ask your company to complete the survey in 2019, to update any changes in your CSR initiatives.
The survey will assess a number of CSR criteria under 4 main CSR pillars: strategy, sustainability, measurability, and communication. Should your CSR initiatives fulfill these criteria, then you should attempt the survey.
For more information, please contact us at [email protected]
