Azmi & Associates released a number of articles from 23 – 26 January, 2025. Click on the links below to read the article(s).
The Companies (Amendment) Act 2024 introduced, among others, a beneficial ownership reporting framework¹ to the Companies Act 2016 (“CA 2016”) which is applicable to locally incorporated as well as foreign companies² seeking registration or are registered under the CA 2016. The amendments pertaining to the beneficial ownership reporting framework came into operation on 1 April 2024.
Section 60B(9) of the CA 2016, inter alia, empowers the Minister of Domestic Trade and Cost of Living (“Minister”) to prescribe the persons or class of persons who may be given access to the register of beneficial owners maintained by a company (“BO Register”) and the beneficial ownership information lodged by a company with the Registrar (“BO Information”), the manner and terms of such access as well as the fee payable.
On January 23, 2025, AMCHAM hosted the second session of its Navigating Malaysia’s 2025 program, focusing on ASEAN’s trade dynamics and Malaysia’s leadership as ASEAN Chair. This session delved into the challenges and opportunities shaping trade across the region and the pathways for advancing economic growth.
Tan Sri Dr Rebecca Fatima, former Executive Director at the APEC Secretariat Singapore, delivered a comprehensive presentation on the headwinds and tailwinds shaping ASEAN trade in 2025. She provided actionable insights for businesses navigating the region’s complex trade landscape, with a special focus on Malaysia’s leadership role.
Following her presentation, Tan Sri Dr Rebecca participated in an engaging fireside chat moderated by Jaideep Singh, Analyst at the Institute of Strategic and International Studies (ISIS) Malaysia, further enriching the discussion, along with a Q&A session.
Thank you, Tan Sri Dr Rebecca and Jaideep for sharing your expertise and to all who joined us for this impactful session. We look forward to more thought-provoking sessions in the future.
On January 17, 2025, AMCHAM kicked off its Navigating Malaysia’s 2025 program with the Malaysia Economic Outlook, delivering fresh perspectives and actionable strategies for navigating Malaysia’s evolving economic and trade landscape.
The program featured presentations by Kit Wei Zheng, Citi’s Head of ASEAN Economics and Chief Economist for Malaysia and Singapore, and Rohit Garg, Citi’s Head of EM Asia Strategy. They offered expert insights into various sector trends, interest rates, currency trajectories, potential tariffs, and the overall economic outlook both on the regional and global scale.
Following their comprehensive presentations, the speakers engaged in a dynamic discussion and an interactive Q&A session, moderated by AMCHAM’s CEO, Dato’ Siobhan Das.
We extend our gratitude to our esteemed speakers for their invaluable insights as we embark on the challenges and opportunities of 2025. Part 2 of the Navigating Malaysia’s 2025 program will take place on January 23, focusing on ASEAN’s trade dynamics and Malaysia’s crucial leadership as ASEAN Chair. Stay tuned!
On January 13, AMCHAM was delighted to meet with Chikako Shimizu, General Manager of Hyatt Centric City Centre Kuala Lumpur, alongside her team, including Rina Yazid, Cluster Director of Marketing Communications at Hyatt Hotels Corporation, and Caryn Chong, Marketing Communications Manager at Hyatt Centric City Centre Kuala Lumpur.
During our engaging discussion, we gained deeper insights into the newly launched Hyatt Centric City Centre Kuala Lumpur, a hotel that proudly hosted our 2025 Welcome Back Cocktails. Featuring 312 beautifully crafted rooms, the property masterfully intertwines Malaysia’s cultural richness with modern comfort. Each room, inspired by the city’s industrial heritage, boasts clean architectural lines, warm tones, and an ambiance that invites discovery and relaxation.
The meeting also paved the way for discussions on strategic collaborations throughout 2025. A sincere thank you to Chikako and her team for sharing their vision and showcasing the unique offerings of Hyatt Centric City Centre Kuala Lumpur. We’re looking forward to building on this partnership and exploring new opportunities together.
The Personal Data Protection (Amendment) Act 2024 (“Amendment Act”), which represents the first legislative update to the Personal Data Protection Act 2010 (“PDPA”) since it became effective on 15 November 2013, will be implemented in three phases during the first half of 2025, beginning on 1 January 2025, followed by 1 April 2025 and 1 June 2025. The Amendment Act received Royal Assent on 9 October 2024 and was published in the Federal Gazette on 17 October 2024, following its passage by the House of Representatives and the Senate of Malaysian Parliament on 16 and 31 July 2024, respectively.
