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AMCHAM Update #529
Dear Subscriber,
UPCOMING EVENTS
Dialogue with Datuk Abdul Rasheed Ghaffour, Governor of Bank Negara Malaysia
Dialogue with Datuk Abdul Rasheed Ghaffour, Governor of Bank Negara Malaysia

date

Jul 31, 2024
(3:00 PM - 6:00 PM) (GMT+8)

location

Clarke II, Le Méridien Kuala Lumpur
Kuala Lumpur, Malaysia
Opportunities ASEAN Webinar Series: Thailand and Philippines
Opportunities ASEAN Webinar Series: Thailand and Philippines

date

Aug 8, 2024
(10:00 AM - 11:00 AM) (GMT+8)

location

Online Webinar
SAVE THE DATE
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Sponsorship Opportunities are available. For more information contact our events team at events@amcham.com.my.
Click here to view Sponsorship Packages
AMCHAM IN PARTNERSHIP WITH
IAPC – Regional Meeting 2024
IAPC – Regional Meeting 2024
The International Association of Political Consultants (IAPC) will be organizing a dialogue on the upcoming and past elections in 2024 and the geopolitical landscape in Asia and beyond.

They have prepared a panel of experts who will share their insights in an open and interactive way. Some of the topics that will be covered include the upcoming U.S. elections and its implications on the region with our experts. Don't miss this opportunity if you have an interest in public policy, politics and international relations.
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NEWS UPDATE
Improvement initiative: Permission to work for foreign professionals with Social Visit Pass (PLS@XPATS) for emergency/critical task/work
Improvement initiative: Permission to work for foreign professionals with Social Visit Pass (PLS@XPATS) for emergency/critical task/work
The Permission to Work with a maximum of (30) days Social Visit Pass (PLS@XPATS) will be endorsed at the Immigration Entry Point, subject to the Approval Letter.

Effective 18 July 2024, the processing charter will be revised from Three (3) Working Days to One (1) Working Day upon a submission with complete document.
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Miti: Malaysia's trade surges 8.7pc year-on-year to RM237.8b in June 2024, on an upward trend since January
Miti: Malaysia's trade surges 8.7pc year-on-year to RM237.8b in June 2024, on an upward trend since January
Malaysia’s trade has maintained its upward trajectory, growing consistently since January 2024, to record an 8.7 per cent year-on-year (y-o-y) expansion in June 2024 to RM237.81 billion, said the Ministry of Investment, Trade and Industry (MITI).

The ministry noted that exports registered the third consecutive month of growth, increasing 1.7 per cent to RM126.05 billion, while imports rose 17.8 per cent to RM111.76 billion.
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CHAMBER NEWS
InterChamber Networking
InterChamber Networking
On Thursday night, July 18, AMCHAM hosted the InterChamber Networking event at Crowne Plaza, Kuala Lumpur. This event was a collaborative effort between seven business chambers: AMCHAM, the European Chamber of Commerce in Malaysia (EuroCham), the Malaysian French Chamber of Commerce (CCIFM), the Malaysian-German Chamber of Commerce & Industry (MGCC), the Malaysian Dutch Business Council (MDBC), the British Malaysian Chamber of Commerce (BMCC), and the Malaysia Australia Business Council (MABC).
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MEMBER NEWS
99% of companies to adopt AI in Financial Reporting by 2027, KPMG survey reveals
99% of companies to adopt AI in Financial Reporting by 2027, KPMG survey reveals
A global survey by KPMG International highlights the increasing adoption of artificial intelligence (AI) in financial reporting. According to the AI in Financial Reporting and Audit: Navigating the New Era report, 10% of companies have widely adopted AI in their financial reporting, while nearly three-quarters (72%) are piloting or using it selectively. In the next three years, 99% of organizations are expected to integrate AI into their financial reporting processes.
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Knight Frank: KL prime office market to remain stable for next 12 months
Knight Frank: KL prime office market to remain stable for next 12 months
International property consultancy firm Knight Frank forecasts that Kuala Lumpur’s prime office rental and vacancy rates will remain unchanged and stable for the next 12 months.

According to Knight Frank's Asia-Pacific Prime Office Rental Index for the second quarter of 2024 (2Q2024) released on Wednesday, the rental rate for prime offices in KL was US$17.99 (RM84.06) psf per year, a slight increase of 0.2% quarter-on-quarter (q-o-q) and 2.6% year-on-year (y-o-y).
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MDEC launches Malaysia's inaugural e-invoicing open day & accreditation
MDEC launches Malaysia's inaugural e-invoicing open day & accreditation
The Malaysia Digital Economy Corporation (MDEC) has launched the inaugural national e-Invoicing open day and accreditation, marking a significant milestone towards digitalising business processes.

The landmark event aims to empower businesses by facilitating the adoption of e-invoicing solutions, after having championed the e-invoicing initiative to accelerate the nation's digital transformation since 2020.
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FACTS AND INSIGHTS
The rise of smart contracts and strategies for mitigating cyber and legal risks
The rise of smart contracts and strategies for mitigating cyber and legal risks
Imagine a world where contracts are executed seamlessly without human intervention, reducing costs and enhancing efficiency across industries – from finance to real estate. This is the promise of smart contracts, self-executing agreements embedded in blockchain technology.

However, the rapid adoption of this revolutionary technology comes with significant risks. In 2016, a coding flaw in the Decentralized Autonomous Organization (DAO) smart contract on the Ethereum platform led to a theft of $50 million worth of ether, illustrating the potential vulnerabilities.
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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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