Exciting times are ahead for Malaysia’s energy transition! On October 28, 2024, AMCHAM and the Energy Transition Committee (ETC) held a productive meeting with TNB, where we explored key strategies and innovations in Carbon Capture, Utilization, and Storage (CCUS).
Our discussions were focused on TNB’s commitment to decarbonization, its emphasis on renewable energy, and the exploration of hydrogen opportunities. ETC members shared valuable insights on affordable technologies and the importance of scalability for the future of CCUS.
As Malaysia prepares for its ASEAN chairmanship in 2025, we are eager to support the country’s efforts in tackling challenges within the energy sector and paving the way for a more sustainable future.
On October 25th, AMCHAM hosted a dynamic roundtable discussion featuring Kathryn Paik, a former official with the National Security Council (NSC) and now a Senior Advisor at The Asia Group. Currently in Malaysia to assist the UNODC with the Maritime Law Enforcement Dialogue (MLED), Kathryn brought a wealth of knowledge and insight to the table.
The session delved into pressing maritime issues and the intricate geopolitical tensions shaping our region. Participants were captivated by Kathryn’s analysis of the evolving landscape and her practical advice on how members can navigate these complexities effectively.
A heartfelt thank you to Kathryn Paik and the dedicated team at The Asia Group for orchestrating such an impactful discussion. This event was not just informative but a vital opportunity for our members to engage with the challenges and opportunities that lie ahead.
PUTRAJAYA, 4 November 2024 – In line with its commitment to enhancing the well-being of Malaysians, premier health and wellness company, Herbalife took part in the country’s largest annual sporting event, Hari Sukan Negara. The recent Hari Sukan Negara celebration in Putrajaya from 11 to 13 October drew over 50,000 participants, with activities taking place at the national, state, and district levels.
Initiated by the Ministry of Youth and Sports, the Hari Sukan Negara, aims to promote sports among the community through an active and healthy lifestyle. In support of these goals, Herbalife participated in Hari Sukan Negara to raise awareness about the importance of well-being and the current health challenges faced by Malaysians.
During the event, Herbalife offered free wellness evaluations, providing attendees with personalised insights into their health and fitness levels along with practical advice on how to improve them. Bottom of Form
With a shared mission of supporting Malaysians on their journey to better health, Herbalife also partnered with GlamFit to organise the GlamFit Power Hour in Putrajaya. This high-energy workout session brought together people from all walks of life and was one of 64 activities during the three-day event, making fitness fun and accessible for everyone.
John Hellmann, Vice President of Public Affairs, Asia Pacific, Herbalife said, “For over 40 years, Herbalife has been empowering individuals around the world, helping millions transform their lives through balanced nutrition and active living. In Malaysia, we have actively supported various programmes and workshops to encourage healthier lifestyle choices and it is truly inspiring to see so many Malaysians coming together to improve their overall well-being.”
“With more than half of Malaysia’s population being overweight or obese and nearly half leading sedentary lifestyles, initiatives like Hari Sukan Negara are more crucial than ever. Recent statistics reveal that 49.9% of Malaysians have sedentary habits, and almost 30% are physically inactive. These figures highlight the urgent need for greater awareness of well-being, and Herbalife is committed to helping Malaysians adopt healthier, more active lifestyles.”
The GlamFit Power Hour featured a dynamic mix of workout sessions, including Zumba and a ‘Salsation’ workout. Participant Nawwar Syazana binti Ariffin, 25, shared her experience, “Events like this should happen more often as they bring people together for fun activities while raising awareness about health and wellness. It helps remove the fear of being judged in one’s journey to better their health, especially when you see such a diverse crowd participating. Whether you are just starting out or already active, there is a place for everyone at events like these.”
Herbalife is committed to helping to address Malaysia’s growing health challenges such as rising obesity rates and sedentary lifestyles through impactful programmes and initiatives like the Burn 1 Million Calories Campaign, the recent Guinness World Record for the largest high-intensity interval training class (multiple venues), Weight Management Program and Herbalife Run. The company remains dedicated to empowering individuals to lead healthier, more active lives and contributing to the overall well-being of Malaysians.
Singapore, November 4, 2024 – The holiday shopping season is already in full swing and Federal Express Corporation (FedEx), one of the world’s largest express transportation companies, shared insights from its latest survey on this year’s festive shopping season in the Asia Pacific region.
Conducted in October 2024, the survey[1] gathered responses from 200 small and medium-sized businesses (SMEs) and 300 consumers across 12 APAC markets, exploring their expectations, purchasing motivations, and concerns for the festive season, while identifying key trends shaping customer behavior during this time.
According to the findings, 70% of SMEs expect year-on-year sales growth this festive season, with nearly 80% forecasting this growth in sales from within Asia—especially from Southeast Asia. This optimism aligns with broader market trends, as Southeast Asia’s e-commerce market grew in double digits in 2024[2], driven by increased digital adoption and cross-border trade. Additionally, intra-Asia trade continues its robust expansion, with projections indicating it will surpass $13.5 trillion by 2030[3].
The survey reveals key growth opportunities for SMEs:
- Over half (57%) of consumers prefer shopping on e-commerce platforms, with 70% motivated by substantial festive discounts and promotions.
- Free delivery continues to play a crucial role in shaping the shopping experience and driving purchases among consumers. Equally, consumers expect their orders to arrive within two to three business days, with convenient delivery options.
- Consumers want to see businesses develop more sustainable online shopping practices and are willing to pay a premium for sustainable packaging when purchasing gifts, reinforcing the opportunity for businesses to differentiate themselves in the crowded e-commerce marketplaces by offering sustainable options.
“In the Asia Pacific region, the gifting season continues in the months leading up to Christmas through to Lunar New Year,” said Kawal Preet, president, Asia Pacific, FedEx. “As cross-border e-commerce continues to surge, e-tailers—particularly small and medium-sized businesses— are gearing up to maximize sales this festive season. Through our extensive network and smart, intuitive digital solutions, we empower these businesses to deliver exceptional customer experiences, streamline holiday shipping, and thrive in this competitive landscape.”
More details on the survey findings:
To drive sales, SMEs must tap on E-commerce Platforms
E-commerce continues to capture an increasing share of retail spending. The survey reveals that over four-fifths (87%) of SMEs are leveraging third-party e-commerce platforms to broaden customer reach and enhance sales opportunities. Significant online shopping events like Double Eleven, Black Friday, Cyber Monday play a key role in driving consumer engagement during the holiday season. Notably, over half (57%) of consumers prefer shopping on e-commerce platforms, with 70% motivated by substantial discounts and promotions, highlighting the importance of these events for both e-tailers and consumers.
To maximize their impact, e-tailers are innovating through personalized customer offerings, such as live streaming for sales and product demonstrations, alongside robust social media promotions. Survey findings reveal that SMEs consider reliable shipping, competitive pricing, and digital tools crucial for meeting international shipping needs during this busy period, with 48% of e-merchants seeking additional support from logistics providers to manage peak volumes.
FedEx’s comprehensive e-commerce solutions is supporting e-tailers to streamline order fulfillment. The company has integrated its Ship Manager platform, with leading e-commerce marketplaces such as Shopify and BigCommerce, allowing APAC e-tailers to create shipments and manage paperwork directly from their online orders. Such easy-to-use, friction-free services are crucial for e-commerce merchants, especially during the busy holiday season when order volumes increase significantly.
Delivery is Essential for Customer Satisfaction
In addition to festive discounts and promotions, delivery continues to play a crucial role in shaping the shopping experience for consumers. According to the survey, 65% of respondents indicated that free shipping options motivate them to finalize their purchases. However, late deliveries remain a significant concern, with 54% of consumers citing it as their top issue during the festive season. A significant 60% of consumers expect their orders to arrive within two to three business days, and 45% prioritize convenient delivery options to enhance their shopping experience.
To meet consumer expectations, e-commerce shipping services like FedEx® International Connect Plus (FICP) can assist e-tailers in shipping within Asia-Pacific, as well as to the US and Europe. This cost-effective international shipping solution typically delivers most shipments within one to three business days[4], aligning with consumer demands for speedy delivery.
Recognizing the critical importance of last-mile delivery, FedEx has built a network of approximately 260,000 smart lockers across the APAC region, ensuring a secure delivery location even when customers are not at home. Additionally, customizable last-mile delivery options, along with direct messaging and convenient tracking through digital tools like FedEx® Delivery Manager International and Picture of Proof Delivery, provide consumers with the assurance that their packages have been delivered right to their doorsteps.
Consumers Demand Both Sustainability and Speed
There is a growing opportunity for businesses to differentiate themselves in the crowded e-commerce marketplaces by offering sustainable options. While less than half (47%) of SMEs believe that customers seek a balance between sustainability and speed in their online shopping experiences, a remarkable 88% of consumers are saying that they want to see businesses develop more sustainable online shopping practices to stand out from competitors.
Additionally, consumers are drawn to companies that prioritize sustainability, indicating that eco-friendly practices can significantly enhance brand loyalty. Over three quarters (77%) of shoppers are willing to pay a premium for sustainable packaging when purchasing gifts, demonstrating a strong readiness to support environmentally responsible choices.
According to the survey, sustainability is no longer an optional extra for SMEs looking to expand their e-commerce operations; it has become an essential aspect of the decision-making process for consumers. SMEs can make informed choices by analyzing their supply chains and utilizing tools like FedEx® Sustainability Insights, which helps businesses measure the historical carbon footprint of their shipments[5], making emissions reporting more accessible and transparent.
[1] On the survey – please see |About the Survey| at the end of the press release
[2] eCommerce – Southeast Asia | Statista Market Forecast
[3] Intra-Asia trade could surpass $13T by 2030 | Air Cargo Next
[4] Availability of services and transit time may vary depending on origin and destination post code.
[5] Available for eligible shipments. Some exclusions may apply. Please visit |FedEx® Sustainability Insights| website for more details.
Just over a year ago, it was reported that the Chief Commissioner of the Malaysian AntiCorruption Commission (“MACC”), Tan Sri Azam Baki, had stated that the MACC is planning to amend the Malaysian Anti-Corruption Commission Act 2009 (“MACC Act”) to introduce a deferred prosecution agreement (“DPA”) mechanism
More recently, the MACC Chief Commissioner has stated that the MACC is considering “using elements of a UK law² to manage large-scale corporate cases in Malaysia” and that “discussions were underway with the Attorney General’s Chambers (AGC) to assess whether the Deferred Prosecution Agreement (DPA) legal framework could be adapted for local use.”
Singapore, October 25, 2024 – FedEx Corp. (NYSE: FDX) today released its annual economic impact report, analyzing the company’s worldwide network and role in building prosperity in local communities during its 2024 fiscal year (FY 2024)[1]. Produced in consultation with Dun & Bradstreet (NYSE: DNB), a leading provider of business decisioning data and analytics, the study underscores the ‘FedEx Effect’—the impact FedEx has on accelerating the flow of goods and ideas that generate economic growth across countries and regions.
“At FedEx, we have a vision to make supply chains smarter for everyone by leveraging advanced data and technology to better serve our customers and their customers, thereby extending our reach and impact,” said Raj Subramaniam, president and CEO, FedEx Corporation. “The ‘FedEx Effect’ represents our relentless commitment to excellence, economic growth, and the communities where we live and work.”
The report reveals that FedEx contributed more than $85 billion in direct impact to the global economy in FY 2024, accounting for approximately 0.1% of the world’s total net economic output[2]. This activity reflects the scale of the FedEx network and the company’s ongoing efforts to enhance its innovative services that help businesses of all sizes connect with customers and strengthen their operations. The company has the most extensive transportation network in the world, providing service to more than 220 countries and territories. Additionally, FedEx employs more than 500,000 people across more than 5,000 facilities and moves an average of 16 million packages per day.
APAC impact
The Asia Pacific (APAC) region continues to emerge as a hub of economic opportunity, with rapid growth in major economies like China and Japan and developing markets such as Vietnam, Thailand, and Indonesia. FedEx is critical in facilitating regional commerce through its growing air, and ground network spanning 43 APAC countries and territories. In FY 2024, FedEx directly contributed an estimated 0.2% to net economic output in APAC’s Transportation, Storage, and Communications sector. FedEx also indirectly contributed an estimated $1.7 billion to the region’s economy in FY 2024.
“We recognize APAC’s pivotal role and contribution to the global economy and are committed to driving its growth,” said Kawal Preet, president of Asia Pacific, FedEx. “By investing strategically in infrastructure and enhancing connectivity within the region and globally, we are empowering businesses to unlock new growth opportunities while positioning APAC as a hub for international investment. We remain steadfast in expanding access to global trade, fueling economic growth, and creating long-term sustainable value for communities, customers, and businesses across the region.”
The FedEx economic footprint in the region continues to grow.
- Trade: FedEx’s continued support of trade policies that facilitate greater market access advances the company’s purpose of connecting people and possibilities across the globe. As countries like Vietnam emerge as central global production hubs for technology equipment, semiconductors, textiles, and more, FedEx has strengthened connections within the region, for instance by adding four new weekly flights from Ho Chi Minh City to the FedEx Asia Pacific Hub in Guangzhou, China.
- Operational enhancements: FedEx continues to grow its footprint in the APAC region and has established new regional headquarters in Singapore. FedEx also upgraded the Shenzhen International Gateway to double its package sorting capacity. It broke ground on a new South China Operations Center in Guangzhou that will be able to sort up to 25,000 packages and documents per hour – three times the current FedEx Guangzhou Gateway capacity. Additionally, we have plans to expand the FedEx transshipment center at the Farglory Air Cargo Park at Taiwan’s Taoyuan International Airport. These critical hubs are helping meet the growing demand for efficient, large-scale shipping solutions.
- Sustainability: The company continues to invest in renewable energy to power its facilities, electrification of its pickup and delivery fleet, and carbon sequestration research to advance natural carbon capture solutions for adoption across the transportation industry. In FY 2024, FedEx opened new energy-efficient facilities in Singapore, China, and Australia, and added five commercial electric tricycle to its PUD fleet in Taiwan. The company also made history by completing the first delivery of a cross-border package via an EV from Malaysia to Singapore. The historic 252-mile journey avoided approximately 220 pounds of tailpipe CO2 emissions compared to making the same journey with a diesel-powered van and was recognized by the Malaysian Book of Records for “First Malaysian Zero Emission Cross-Border Delivery”.
- Supply chain: FedEx supplier spending makes a significant contribution to the small- and medium-sized business (SAM) market. In calendar year 2023, 68% of FedEx supply chain spending in APAC went to SAMs, contributing to the number of small business jobs created in the region.
- Small businesses: FedEx helps small- and medium-sized businesses (SAMs) accelerate their growth and extend their global reach, supporting local job creation and economic activity. In addition to its SAM-specific portfolio solutions, the company supports the SAM community, through its Small Business Grant Program to recognize innovative entrepreneurs and provide funding to help accelerate their growth. In APAC, four companies from Indonesia, Malaysia, Philippines, and Singapore shared a total prize pool of $69,000. The $30,000 grand prize winner was Lucence, a precision oncology start-up from Singapore that is developing non-invasive tests that aim to accurately diagnose cancer.
- Giving: FedEx supports the local communities it serves through FedEx Cares, which promotes charitable giving, employee volunteer efforts, and in-kind shipping services around the world. In FY 2024, the company’s charitable contributions totaled to more than $55 million to its direct partnerships with NGOs and nonprofits. In APAC, this involved donating retired uniforms to local organizations in China, supporting education costs for women enrolled in engineering and science courses at the Polytechnic University of the Philippines, donating computers and software programs to students in Jakarta, and bicycle repair stations in the Philippines. The company also supported youth entrepreneurship through its regional Junior Achievement (JA) program and volunteered to support programs including tree planting in China and Singapore, urban gardens in Malaysia, foodbank and litter collection in Australia and a library program in China.
Read the full FY 2024 FedEx Global Economic Impact Report and explore the FedEx Effect in communities and regions around the world at FedEx | Economic Impact Report.
[1] Fiscal year (FY) 2024 is defined as June 1, 2023-May 31, 2024.
[2] The world total net economic output for FY24 is estimated based on overall and industry value added sourced
from UNCTAD (United Nations Conference on Trade and Development) and using economic growth projections published by the IMF (International Monetary Fund).
