|AMCHAM Update #34: COVID-19 Outbreak|
During this (extended) period of the Movement Control Order, AMCHAM will be bringing updates on the latest COVID-19 developments, which includes the efforts of Government and initiatives from other bodies and organizations.
|Amendments to the Employees Provident Fund, Malaysia Deposit Insurance Corporation Act and Prevention and Control of Infectious Diseases Act|
In exercise of the powers conferred by section 71 of the Employees Provident Fund Act 1991 [Act 452], the Minister, on the recommendation of the Board, makes several amendments towards the Act. Also, adjustments are made to the Malaysia Deposit Insurance Corporation (Disclosure Requirements for Trust Accounts and Joint Accounts) (Amendment) Regulations 2020 and the Prevention and Control of Infectious Diseases Act.
|Prihatin Screening Programme|
The Social Security Organisation (Socso) Prihatin Screening Programme (PSP Perkeso) for employees, including foreign workers, in the sectors allowed to resume operations during the movement control order (MCO) started its Covid-19 screenings. Registration can be done online at https://prihatin.perkeso.gov.my using employees’ identification card number or Foreign Workers Social Security Number (KSPA) for foreign workers.
|Starting today, shopping in pairs allowed during MCO|
Starting today, a person going out to purchase food or daily necessities during the movement control order (MCO) may be accompanied by one family member staying in the same house, according to an updated regulation by the Ministry of Health. The updated ruling was published under the Prevention and Control of Infectious Diseases (Measures within Infected Local Areas) (No. 4) Regulations 2020 which take effect from April 29 to May 12, and signed off by Health Minister Datuk Seri Dr Adham Baba.
The American Malaysian Chamber of Commerce (AMCHAM) has lauded the National Security Council’s decision to allow all approved sectors to increase their operational capacity and operate fully without time constraints. It said the decision would ensure business continuity and sustainability that are crucial in rebuilding the country’s economy, and enabling small and medium enterprises in Malaysia to reignite and revive their businesses and regain lost ground.
The Malaysian electrical and electronic (E&E) industry lauds the government’s decision to allow selected economic sectors that have been operating at half capacity to operate at full capacity beginning today. The move is good news for E&E players, who have order backlogs to fulfil and demands to meet. But for full effectiveness, other businesses within the E&E ecosystem should be allowed to operate alongside the manufacturers.
Over the past five years, enterprises across the globe have vetted the technology with thousands of proofs of concept, but live deployments have been slow to come because partners using blockchain as a shared ledger have to agree on IP rights, governance, and business models. Government regulations have also impeded its widespread use.
Over the past four decades, much of manufacturing production world-wide has been organized in what has become known as global value chains (GVCs)
. Raw materials and intermediate goods are shipped around the globe multiple times and then assembled in yet another location. The final output is re-exported to final consumers located in both developed and developing markets. For many goods, China is at the heart of such GVCs – for example, as a primary producer of high-value products and components, as a large customer of global commodities and industrial products, and as a major consumer marketplace.
For many economies, 5G innovation promises an opportunity to scale the economic ladder in a technological arena that will undergird the connectivity-based and data-driven Fourth Industrial Revolution (4IR). But for major powers, 5G innovation is an emerging battlefield for technological, economic and military domination. For all its economic promise, this next-generation technology has the potential to be a nightmare in the making for ASEAN — an organisation that lists choosing sides between major powers as one of its most prominent concerns
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