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AMCHAM Update #524
Dear Subscriber,
UPCOMING EVENT
AMCHAM 47th Annual General Meeting Luncheon
AMCHAM 47th Annual General Meeting Luncheon

date

Jun 25, 2024
(12:00 PM - 2:30 PM) (GMT+8)

location

Sheraton Imperial Kuala Lumpur Hotel
Kuala Lumpur, Malaysia
 
CHAMBER NEWS
U.S. – Malaysia Clean Tech Forum 2024
U.S. – Malaysia Clean Tech Forum 2024
On June 12, AMCHAM, in collaboration with the U.S. Commercial Service Malaysia, Clean Edge Asia, and the U.S. Embassy Kuala Lumpur, hosted the U.S. – Malaysia Clean Tech Forum 2024. Building on the success of the previous Clean Tech Forum, this forum brought together vital U.S. and Malaysian stakeholders to explore collaborative approaches to achieving a clean economy.
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NEWS UPDATE
Special Incentives to be created for AI Data Centres
Special Incentives to be created for AI Data Centres
The Ministry of Investment, Trade and Industry (MITI) will develop special incentives for artificial intelligence (AI) data centres.

Investment in advanced technology infrastructure and AI data centres can support the Madani Government’s commitment to accelerate the nation’s digital transformation agenda across all sectors, while also facilitating the transition to a high-income economy.
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MEMBER NEWS
FedEx announces appointment of Sandeep Shahi as Vice President, Information Technology in Asia Pacific
FedEx announces appointment of Sandeep Shahi as Vice President, Information Technology in Asia Pacific
Federal Express Corporation announced the six winners of the 2024 FedEx/Junior Achievement International Trade Challenge (FedEx/JA ITC) Malaysia Finals. The winners will advance to the FedEx/JA ITC Asia, Middle East and Africa (AMEA) regional finals to be held in August 2024.
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What you need to know: Frequently asked questions on the amendments to the Occupational Safety and Health Act
What you need to know: Frequently asked questions on the amendments to the Occupational Safety and Health Act
On 2 April 2024, the Minister of Human Resources of Malaysia (“the Minister”), through Gazette Notification P.U.(B) 128/2024, stipulated that the Occupational Safety and Health (Amendment) Act 2022 (“Amendment Act”) will take effect on 1 June 2024.

In this article, Skrine provides their responses to some of the frequently asked questions regarding the Amendment Act and subsidiary legislation.
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PTP is fifth most efficient container port in the world
PTP is fifth most efficient container port in the world
Port of Tanjung Pelepas (PTP) is now the fifth most efficient container port in the world. According to the recently published 2023 Container Port Performance Index (CPPI), PTP has risen from sixth place to the fifth ranked. PTP has also secured the top spot in the South-East Asia region.

The CPPI, developed by The World Bank and S&P Global Market Intelligence, is based on the most extensive dataset to date, covering 405 ports worldwide.
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JLL's Manufacturing Report - Beyond China: Asia's next manufacturing powerhouse
JLL's Manufacturing Report - Beyond China: Asia's next manufacturing powerhouse
For decades, China dominated manufacturing, but the evolving geopolitical landscape and a focus on supply chain resilience are prompting companies to diversify.
The new battleground? Southeast Asia (SEA) and India. Backed by strong government support and competitive costs among other factors, both are emerging as contenders in the race to become the next manufacturing powerhouse.

Explore JLL’s latest research "Beyond China: Asia's next manufacturing powerhouse":
New Malaysia Digital Tax Incentive for Technology Investments in Malaysia
New Malaysia Digital Tax Incentive for Technology Investments in Malaysia
On 31 May 2024, the Malaysia Digital Economy Corporation has introduced a new outcome-based tax incentive scheme ("MD Tax Incentive") for eligible Malaysia Digital Status companies.

This Update aims to provide a quick overview and guidance in navigating the qualifying criteria and understanding the benefits offered under the newly introduced MD Tax Incentive.
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IBM Study: CEOs face workforce and cultural hurdles in rapid AI adoption
IBM Study: CEOs face workforce and cultural hurdles in rapid AI adoption
A new study by the IBM Institute for Business Value found that surveyed CEOs are facing workforce, culture and governance challenges as they act quickly to implement and scale generative AI across their organizations.

The annual global study of 3,000 CEOs from over 30 countries and 26 industries found that 64% of those surveyed say succeeding with generative AI will depend more on people’s adoption than the technology itself.
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FACTS AND INSIGHTS
Gen AI: A cognitive industrial revolution
Gen AI: A cognitive industrial revolution
The advent of steam power in the late 18th century utterly transformed manufacturing, transportation, and construction. A new kind of upheaval is already under way—one that will energize all language-based capabilities, including communication, reasoning, analysis, sales, and marketing.

In this episode of the At the Edge podcast, Reid Hoffman, a partner at venture capital firm Greylock Partners, and cofounder of LinkedIn and Inflection AI, speaks with McKinsey’s Lareina Yee about the generative AI revolution and how it can teach users to understand and harness its power.
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TIERED CORPORATE MEMBERS 2024
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MEMBER BENEFITS PROGRAM
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American Malaysian Chamber of Commerce
Level 10, Bangunan Faber Imperial Court, Jalan Sultan Ismail,
Kuala Lumpur 50250, Malaysia
Tel: +603 2727 0070Fax: +603 2727 0075Email: 
    

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