| AMCHAM Update #40: COVID-19 Outbreak |
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| There has to be a proper testing process for the mandatory Covid-19 screening of foreign workers, given the two million foreign workforce and the need to maintain social distancing. This is coupled with the limitation of processing a maximum of 20,000 test kits per day. |
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| Prihatin Screening Programme |
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Employees (both foreign and local) who are SOCSO contributors are encouraged to take advantage of the Prihatin Screening Program (PSP) that provides FREE COVID-19 Screening to eligible employees. Employers can also arrange for group testing at the designated location. For more information, please visit: https://psp.perkeso.gov.my/. |
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| US Tax and CARES Update for US Citizens and Green Card Holders in Malaysia |
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Malaysia remains a popular destination for expats around the world. However, the tax laws and the way in which it functions can be quite confusing. For an American expatriate living in Malaysia, what exactly goes into filing US expat (and Malaysian) taxes? On 8 May, 2020, AMCHAM in collaboration with Moores Rowland Tax Consultants had a webinar on U.S. Taxes and updates on the Coronavirus Aid, Relief, and Economic Security (CARES) Act for U.S. Citizens and Green Card Holders in Malaysia. |
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| Standard Chartered Malaysia (StanChart) has announced that it will be lowering its base rate and base lending rate by 50 basis points to 2.52% and 5.7% per annum respectively, effective May 14. In a statement today, StanChart said the -0.5% rate adjustment also applies to its fixed deposits interest and term deposits-i profit rates across all tenors. "Correspondingly, the bank is also bringing down its Islamic basic rate and base financing rate by 50 basis points to 2.52% and 5.7% per annum respectively. |
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| PwC’s 23rd Global CEO Survey of 1,581 business leaders was conducted in September and October 2019, before the spread of COVID-19. Three-quarters of CEOs said they were concerned about whether they would have the talent they needed. Their worry was around how that would constrain growth. Today that same lack of people with the right skills and adaptability could hamper companies’ ability to thrive in a post-pandemic economy. |
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Being a member of AMCHAM has never been so important as it has been over the past two months. As authorities were shaping policies and issuing guidelines they relied on AMCHAM, your Chamber to help. The AMCHAM membership and the use of this Directory is a tool to showcase who we are as a community. I hope that you will join us this year to assist us in building this Directory as a ‘bible’ to the American business on the ground in Malaysia. |
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| In disaster movies, there is usually a make-or-break moment when the hero turns desperation into triumph with one incredible act. As we Americans watch our own real-life disaster movie called “Covid-19” unfold, we too look toward a proverbial Hail Mary solution that will let us return to normal. We are told by expert after expert that things won’t return to normal until we have a fully effective vaccine or drug remedy, and we despair when neither appears imminent. |
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| Imagine a crisis that forces your company’s employees to change the way they work almost overnight. Despite initial fears that the pressure would be too great, you discover that this new way of working could be a blueprint for the long term. That’s what leaders of many companies around the globe are finding as they respond to the COVID-19 crisis. |
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| STAY UPDATED ON THE LATEST HAPPENINGS - Click Below |
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American Malaysian Chamber of Commerce
Level 10, Bangunan Faber Imperial Court, Jalan Sultan Ismail,
Kuala Lumpur 50250, Malaysia
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