On 6 June, AMCHAM held a Members’ Briefing at Ciao Ristorante. These briefings are designed to keep members updated on AMCHAM activities and developments from the U.S. Embassy.

Malaysia signed three agreements at the just-concluded Indo-Pacific Economic Framework for Prosperity (IPEF) Ministerial meeting, namely the (overarching) agreement on IPEF, Clean Economy agreement and Fair Economy agreement

The Inland Revenue Board (IRB) is committed to the government’s plan to mandate e-invoicing for all taxpayers by July 1 next year.

IRB announced the first phase of e-invoicing will commence on August 1, targeting companies with annual revenues or sales exceeding RM100 million. The second phase will involve companies with annual revenues or sales between RM25 million and RM100 million.

Federal Express Corporation, one of the world's largest express transportation companies, announced the appointment of Sandeep Shahi, as Vice President, Information Technology in Asia Pacific. He will drive the company’s technology operations in Asia Pacific.

Bursa Malaysia Berhad (“Bursa Malaysia”) issued a media release on 13 May 2024 announcing that its wholly-owned subsidiary, Bursa Carbon Exchange (“BCX”)¹ will be hosting its first auction of Malaysian carbon credits from the Kuamut Rainforest Conservation Project (“Kuamut Project”) on 25 July 2024.

Port of Tanjung Pelepas (PTP), a joint venture between Malaysia-based MMC Group and Netherlands-based APM Terminals, achieved a new milestone by handling a record 1.08 million twenty-foot equivalent units (TEUs) in a single month.

This achievement, accomplished without any congestion, reinforces PTP’s position as Malaysia’s busiest and largest transshipment hub

The Malaysia Digital Economy Corp (MDEC) is now taking applications for the new Malaysia Digital (MD) tax incentive scheme from eligible MD companies that utilise any technology enablers such as artificial intelligence (AI), cybersecurity, blockchain and advanced network connectivity.

US-based network equipment supplier Cisco announced a US$1 billion global investment fund aimed at developing artificial intelligence-powered solutions for networking, security, and observability, reported dpa news.

The company said it would make investments in artificial intelligence (AI) companies Cohere, Mistral AI, and Scale AI to enhance customer readiness, compute infrastructure, foundational models, model development, and AI training.

If 2023 was the year the world discovered generative AI (gen AI), 2024 is the year organizations truly began using—and deriving business value from—this new technology. In the latest McKinsey Global Survey on AI, 65 percent of respondents report that their organizations are regularly using gen AI, nearly double the percentage from our previous survey just ten months ago.

Respondents’ expectations for gen AI’s impact remain as high as they were last year, with three-quarters predicting that gen AI will lead to significant or disruptive change in their industries in the years ahead.