The “Let’s eBay” workshop, is set to train small businesses and entrepreneurs (SMEs) seeking new global sales channels in the fast-growing eCommerce sector. The workshop launched by eBay at the at The Grounds KL in collaboration with MATRADE and MDEC, is  the first in a series initiated to deliver training to SMEs.

A combination of a strengthening local manufacturing sector and favourable exchange rates has enabled strong growth in eCommerce exports from Malaysia to the rest of the world. Today, a growing number of entrepreneurial Malaysians are seizing this opportunity by selling their products directly to consumers all around the world on eBay.

According to Wong Mei Inn, eBay Head of Southeast Asia Seller, “Malaysia’s cross border trade (CBT) exports are still at a relatively nascent stage and there is huge opportunity for more small businesses to join the ranks of eBay sellers. By listing their products on eBay’s global marketplace, Malaysian businesses can reach 179 million active buyers all around the world.”

“We have also launched the 6-month Let’s eBay Academy Program which is designed to incubate the new sellers by sharing insights and handholding them, so they successfully trade and sell to the global market,” said Wong.

“eCommerce has been recognised as one of the key enablers to accelerate revenue growth for the Malaysian economy, under the Digital Malaysia Initiative,” said Dato’ Wan Latiff Wan Musa, MATRADE Chief Executive Officer.

 “We would like to encourage more Malaysian SMEs, especially the younger generation, to explore international markets with one of the global pioneers in e-commerce, eBay. Once you are online, you are catering to the whole world where opportunities are limitless. MATRADE eTRADE programme will facilitate the onboarding of companies on eBay.”

Welcoming this initiative, Song Hock Koon, Director of eCommerce, MDECcommented, “As a trading nation, Malaysia is now moving up the value chain and trading in ideas, innovation and new technologies in a spirit of collaboration to build our future.  Not only is growing Malaysia’s eCommerce sector one of these fundamental building blocks to our development as a digital nation, but it is exciting that every Malaysian can contribute to this growth through eCommerce.”

Approximately 98.5 percent of business establishments are made up of SMEs and their contribution make up 17.3 percent of the country’s exports. According to the Department of Statistics Malaysia (DOSM), the digital economy in 2017 contributed 18.2percent to Malaysia’s GDP, with the potential to rise to 20 percent of GDP by 2020.

During the full day event, Let’s eBay featured partners like MATRADE, MDEC, PayPal and DHL sharing examples of global opportunities for Malaysians SMEs, practical advice on getting started in the eCommerce industry, inspiring success stories as well as government infrastructure and initiatives which support entrepreneurs to grow their business.

Following Kuala Lumpur, Let’s eBay will travel to Penang and Johor in the coming months as part of extending their support for entrepreneurs.

To further facilitate the growth of Malaysia SMEs, in conjunction with the Let’s eBay Global eCommerce conference, eBay also launched its six-month ‘Let’s eBay Academy Program’ to incubate and accelerate the growth of sellers’ cross-border businesses.

Interested SMEs can register their interest at ebayseatools.com/public_files/PR_Events.html

The continuous evolution of digital transformation is outstripping the pace of cybersecurity in organisations. As a result, we’re witnessing a fundamental disconnect between consumer expectations and concerns, and the ability of organisations to meet those expectations, according to KPMG’s Consumer Loss Barometer report.

The global survey of more than 2,000 consumers and 1,800 Chief Information Security Officers (CISOs) was conducted to assess whether there has been a shift in consumer expectations regarding digital trust, and whether organisations are placing the consumer’s security front and centre of their digital product offerings.

KPMG’s study found that consumers continue to have reservations about the possible misuse of their private details, with 69 percent of consumers globally reported concerns about their technology being compromised. In particular, respondents from Malaysia are most concerned about apps (95 percent), Wi-Fi (82 percent) and cloud (77 percent) being compromised. It was further discovered that 49 percent of consumers from Malaysia said they have had their financial information compromised, higher than the global average of 37 percent.

On the matter of trust in social media and cloud platforms, 48 percent of consumers in Malaysia indicated they limit the amount of personal data stored online due to security and privacy concerns. Moreover, 45 percent indicated that they would like companies and organisations they interact with to disclose measures taken to protect their privacy and security.

On the other hand, two-thirds of CISOs say they prioritise financial loss and reputational risk over the impact on customer trust. According to the Executive Director of KPMG’s Emerging Tech Risk and Cyber unit in Malaysia, Ubaid Mustafa Qadiri, the mismatch between consumer expectations and security executive priorities is a grave concern.

“It’s clear that organisations are still prioritising their bottom line ahead of consumer expectations and concerns, despite the opportunity to use effective cybersecurity strategy to build consumer confidence and engagement. Companies should not wait until an incident occurs to act; in times of crises, consumer trust will be lost,” Ubaid cautioned.

In the event of a breach, consumers prefer compensation (42 percent) and proof of a fix (35 percent) over an apology (24 percent). Conversely, CISOs say they would prioritise an apology over provision of those details (47 percent and 8 percent respectively).

Ubaid commented, “As technology innovation progresses, consumers are revising upward their expectations on how organisations deliver digital products and services, and expect security as integral to their digital experience. The gap in expectations between consumers and enterprises offers a tremendous opportunity for forward-thinking organisations to redesign their relationship with their customers, putting trust at the centre of how they do business. For organisations that have prioritised on building their cyber resilience capabilities, now is the time to extend this message to their customers.”

Other notable global findings of the survey:

—   Value within the organization: The vast majority (83 percent) of CISO respondents brief their board on at least a quarterly or semi-annual basis, demonstrating that executives now rate cybersecurity threats as a significant risk to organisational growth. But when cyber is omitted from the digital business value chain, a trust ecosystem is not delivered and a significant commercial opportunity is missed.
 
—   Mobile technologies: 75 percent of consumers said they were concerned about theft or misuse of personal information collected by their mobile device. Mobile device makers and network providers can differentiate themselves by building consumer trust in digital channels for such sectors as healthcare and banking, not just in the mobile products and services they provide.

—   Shared responsibility: Almost half (47 percent) of consumers believe that their financial institution should have full or joint authority for ensuring that mobile devices used for banking are secured. Whether or not financial institutions regard it as their responsibility, they need to show they take the security of their customer’s information seriously, both in their clients’ interactions with them and their clients’ broader security needs.

To read KPMG’s report and view statistics out of Malaysia, visit www.kpmg.com.my/ConsumerLossBarometer

The Malaysia Automotive, Robotics and IoT Institute (MARii) has entered into three Memorandums of Understanding (MoU) with technology partners towards expanding capabilities and next generation products as the automotive sector moves towards the connected mobility industry.

The MoUs were signed during the Malaysia Autoshow 2019, held at Malaysia Agro Exposition Park Serdang (MAEPS) from the 11th to 14th April 2019.

MARii signed MoUs with Neuto Sdn Bhd, Eclimo Sdn Bhd and Pomen App in developing new technologies and applications in the areas of energy efficiency, electrification, big data analytics and smart IoT technology.

MARii and Neuto Sdn Bhd signed an MoU in the development of Hydrogen Energy Efficient Vehicles (HEEV). The Neuto NEEV is a plug and play solution designed for diesel engines, using hydrogen fuel enhancement technology to increase performance and fuel economy, and reducing emissions, maintenance requirements and downtime of diesel based vehicles.

MARii will assist Neuto in the validation of the Neuto HEEV, utilising the systems and infrastructure developed through MARii, which includes the National Emission Test Centre (NETC) based on the Malaysian Driving Cycle (MDC) which is currently being developed by MARii and the industry.

The collaboration also focuses on talent development and technology application of hydrogen fuel enhancement technology in gasoline and biofuel based engines.

MARii’s collaboration with Eclimo Sdn Bhd,  will focus on Electric Vehicle (EV) battery technology.

Both parties will look into the possibilities of combining MARii’s developed technologies in battery cells and battery management system (BMS), to be integrated with Eclimo’s battery pack designs in the development complete EV platforms.

The collaboration also includes promotion and awareness on battery manufacturing, identification of potential EV platforms and also exploring potentials of Lithium-Ion Battery recycling.

Meanwhile, MARii and Pomen Autodata Sdn Bhd signed an MoU to promote and develop automotive and overall mobility workshop services, and to establish technology collaborations on Big Data Analytics platforms and systems for the after sales sector.

Businesses in the aftersales sector currently invest heavily in ensuring customer relations, inventory and workshop operations and other such business activity to ensure they meet the demands of the market. The application of new smart technologies allows for high value benefits in optimising such operations to further accelerate the growth of the aftersales sector of the automotive industry.

“The MoUs are a testament to the capabilities of Malaysian companies in complying with the demands of Industry 4.0 and the future of connected mobility.”, said Dato Madani Sahari, MARii CEO.

“MARii will continuously render its expertise and assistance in developing the needed human capital, technology adoption and strategic policy formulation to ensure access for all Malaysians, in particular SMEs, to the business and career opportunities in the ever-growing overall mobility sector”, he added.

Malaysia is back in New Zealand as it prepares for Visit Malaysia 2020 (VM 2020), a landmark campaign that’s targeted to bring in 30 million international tourists and approximately NZD$35.5 billion (RM100 billion) in tourist receipts.

The Director General of Tourism Malaysia, Datuk Musa Yusof, is led a travel trade mission to Auckland on 11 April to reinforce the message that Malaysia is an important holiday destination for New Zealand travellers.

The delegation consisted of 10 organisations including one state tourism board, one tourism agency, one travel agent, one airline, 4 hotels and resorts, and 2 product owners. Major players and sponsors are Terengganu Tourism, Desaru Coast, Legoland, Malindo Air and Malaysia Airlines.

Musa said: “Malaysia has long-standing ties with New Zealand that extends to the Peace Corps, education and cultural exchanges as well as presenting an attractive holiday proposition to New Zealanders.

“New Zealand, like Malaysia, is a multi-ethnic and diverse population living in relative peace and harmony. We hope that this mutual connection will serve as a basis to strengthen our tourism relations with each other.”

He also noted that Malaysia’s blend of “culture, cuisine and nature” appealed strongly to New Zealanders’ innate sense of adventure which is made accessible by language, customs and some familiar aspects of Malay culture.

Malaysia offers a multi-faceted holiday that takes visitors from the shopping heavens of one of the world’s most modern cities that is Kuala Lumpur, to the farthest reaches of Borneo’s native jungles with its abundance of unique flora and fauna, to pristine waters where they can explore a magical underwater world or secluded island. Malaysia also presents an exceptional value-for-money proposition where the Kiwi dollar goes a long way in value and, in doing so, offers the opportunity to elevate both the standard and length of stay of their Malaysian holiday.

“Our main focus is to strengthen our economy and develop better policies to attract good investments for the nation to prosper. I encourage you to consider Malaysia as your ideal partner for your tourism growth and business expansion and look forward to seeing more tourism investments and partnerships in Malaysia,” added Musa.

He will be holding a special media briefing to address the trade players in Auckland, covering Malaysia’s tourism performance and future developments as well key tourist attractions (see below “Key Highlights of Malaysia’s Tourism Products”).

New Zealand is an important tourist source market for Malaysia. In 2018, a total of 50,698 New Zealanders visited Malaysia, which contributed to the overall 25.8 million international tourist arrivals to Malaysia. Malaysia aims to bring in 60,000 New Zealanders to Malaysia next year. There are currently 7 flights/week offering 2,009 seats from New Zealand to Malaysia. — Bernama

RHB Islamic Bank Berhad won two prestigious awards at the recent Kuala Lumpur Islamic Finance Forum (KLIFF) Awards 2019 held at the Royale Chulan, Kuala Lumpur.

RHB Islamic received the Most Outstanding Islamic Corporate Banking Award and the Most Outstanding Shariah Adviser Award at the forum which offers an integrated basis for promoting Islamic Financial system dialogue among speakers and delegates.

The event is aimed at fostering the orderly development of an efficient, competitive, sound and innovative Islamic finance in a rapidly changing global environment.

RHB Islamic received the Most Outstanding Islamic Corporate Banking Award for two first-in-the-market programs and product offerings namely Islamic e-FSC electronic exchange (first offered by a domestic bank) and Flexible Trade Finance-I (for trade financing), supporting sustainable responsible investment (SRI) projects winning several domestic and international accolades.

The Bank also won the  Most Outstanding Shariah Adviser Award for the sheer number of published articles and research paper, numerous Islamic capital market and Islamic corporate banking strategic transactions that received various outstanding awards and accolades, as well as the offering of a full suite of comprehensive financing, deposit, investment and cash management solutions for its retail and corporate customers.

Malaysia Convention & Exhibition Bureau (MyCEB), an agency mandated to spearhead the country’s business events industry by the Ministry of Tourism, Arts and Culture Malaysia, embarks on its 9th China Roadshow. The Roadshow which kick starts in Beijing on Monday will see the Bureau and 29 industry partners travelling to four cities, including Shanghai, Chengdu and into a new city, Shenzhen.

In its efforts to woo one of Malaysia’s biggest market, the delegation is armed with a new programme for corporate and incentive groups. The Malaysia Twin Deal V (MTD V) is set to win clients over as it is designed to exponentially benefit both meeting planners and corporate clients.

“We have been known for our Malaysia Twin Deal programme over the years, which we spend a good amount of invested efforts to tailor make these packages for all parties involved so they can maximise their trip’s mileage in Malaysia. With MTD V, the format of the programme is still according to Deal 1 and Deal 2 but we have staggered to different levels in relation to the number of participants.

“Each level has its value-added support from us while planners will also receive incentive rewards according to the cumulative number of participants. To keep up with times, we are also including new features such as a photo booth to generate the best memories and a welcome banner in both digital and physical form,” Datuk Zulkefli Hj. Sharif, Chief Executive Officer of MyCEB.

He continued,“Under Deal 1, MyCEB will provide the value-added support from groups as low as 30 participants right up to big delegations of 500 and above. For Deal 2 which is targeted at planners, rewards come in cumulative of 500 to 2,000 participants while special rewards are for 2,000 – 8,000 participants. This format which shows wide coverage from minimum participants is a clear demonstration of our sincerity in working with our Chinese counterparts”.

The CEO also said that China has always been a gracious host throughout the years when the Malaysian delegations visit the country for its Roadshows.

The economic giant has been a major market for Malaysia to continuously tap on. Last year, Malaysia received 30,859 total number of Chinese delegates which saw a visitor expenditure of RM 209 million (USD 51 million), leading to an economic impact of RM 491 million (USD 120 million).

“For 2019, we are targeting a five percent increase, especially with the string of new offerings the country has produced since last year including seven new hotels and are expecting another ten new hotels up to 2020 to cater to the demands as we are gearing up for the Visit Malaysia 2020”.

The Roadshow which lasts for a week will include in-house training for China MICE agents in second tier cities coupled with a showcase of products and services by industry partners.

MTD V’s booking period is applicable from 1st April 2019 – 30th November 2020, for the arrival period of 31st December 2020.

For more information, visit www.myceb.com.my or email [email protected]

Adventoro Travel Technologies Sdn Bhd announces it has been selected by World Tourism Forum Lucerne as a finalist for the upcoming Start-Up Innovation Camp 2019 to be held in  in Lucerne, Switzerland. Adventoro is one of three finalists placed in the category of Destination.

Ken Lau, Founder and Chief Executive Officer of Adventoro said, “We are honoured to be chosen as a finalist to take part in the Start-Up Innovation Camp event in Lucerne. Having an opportunity to present Adventoro on an international stage means a lot to us as a young start-up. Moreover, we cannot wait for the new experience when we get a chance to meet industry leaders, influencers, experts, investors and many other industry players under one roof.”

Adventoro was established in late 2016 with a focus to help travellers discover adventure activities in Malaysia. Since then it has grown the number of destinations on its platform to over 1200. Aside from Malaysia, it now offers adventure activities and destinations located in Indonesia, Laos, Singapore, Thailand, and Vietnam. The Company plans to include destinations in Cambodia, Myanmar and the Philippines by year end.

“South-East Asia has plenty of activities to offer to adventure seekers. Since we started, response has been very encouraging from people around the world. Just in 2018 alone, our young start-up managed to rake in RM1.2 million or USD300,000 in total sales. We are working harder to achieve more this year.

“We’ve seen many up-and-coming travel start-ups both in Malaysia and overseas. Being the only start-up chosen from Malaysia to be at World Tourism Forum Lucerne this year, is a privilege. This is a great opportunity for us to tell Adventoro story to the world when we get to Lucerne next month,” explained Ken.

Feets SB, a member of Ramssol Group, leading HR Tech company in the Association of South East Asian Nations (ASEAN) region, launches its new app, Feet’s.  The app serves as an employee engagement tool and furthers the company’s mission in helping organisations build value by tracking and forecasting future workforce needs.

According to Aon’s latest 2018 Trends in Global Employee Report, employees in
Singapore and Malaysia are the least engaged in Asia. This reflects poorly on the
country’s ability to provide satisfactory ‘reward and recognition, strong ‘senior
leadership’ and ‘career opportunities’, which tops the list of engagement drivers in
the report.

Looking at current stats, Ramssol Group collaborated with University Malaya (UM)
on the research and development to come up with the mobile app.

Based on the research conducted by Aon, the findings are – on average, less than 33 percent of employees in an organisation are fully engaged, lower employee engagement leads to lower productivity and a higher risk of loss.

The app is designed for decision makers to know what is really going on with
their people on real-time basis – what they have accomplished, what they are
currently struggling with and how they feel.

The mobile app keeps employee engagement fun and rewarding and it is the FIRST
of its kind in Malaysia.

As a platform for companies to boost internal engagement, Feet’s is designed with
the feel-good factor in mind so that we can nurture great relationships at workplace
amongst managers and peers. Its unique approach is in its simple and friendly
workflow, combined with open collaboration, social interaction, crowdsourcing and
gamification.

In addition to receiving company news and announcements, the app prioritises rewards and recognition for employees’ contributions and proactive attribute. This helps with retention especially in this new era of millennial workforce.

“It is no secret that a happy and engaged worker is a more productive and loyal
employee. As employees become more mobile, with gig economy taking over, team
spirit and loyalty is often lacking and employers are challenged to provide clear value
and strategy to position them for growth. Feet’s is primed to help organisations keep
their teams in the loop and nurture a sense of belonging,” says Clement Tan,
Chairman and CEO of Ramssol Group.

“The development of the app is informed by valuable insights acquired through our
experience and research with clients. While we can track productivity and
performance with a dynamic software, with Feet’s, HR managers can continuously
monitor if an employee is engaged or disengaged and identify appropriate and timely
interventions to achieve desired results,” added Tan.

In order to get a pulse on employee’s morale, Feet’s collaborated with the University
of Malaysia to incorporate Artificial Intelligence that will formulate insightful feedback
questions. The responses and deep analytics will help managers to initiate more
meaningful discussions with their teams, give them a new source of motivation and
create a culture of growth. Feet’s users are given incentive in a form of points in
exchange for rewards such as discounts or offers from local brands ranging from
F&B to travel and health industries, for Example Best Western Hotel, Timekeeper
and MBG Fruits.

Features of Feet’s include:
 Friendly user interface that encourages daily interaction
 Makan Buddy Meal Group with location technology that delivers push
notifications for “suggestions nearby”
 Feeters Forum to spark discussions and collaborations
 T’ing! Suggestion Box that allow autonomy of ideas and voting by members
 Weekly quizzes backed by research, positive psychology and Artificial
Intelligence
 High Fivers Recognition with badges earned by completing tasks and
leaderboards that promote individual achievements
 Attractive rewards that are redeemable at a wide selection of brand partners
 Executive Dashboard for real-time tracking by managers on overall
employee activity, satisfaction and stress levels

Feet’s app has gone through rigorous beta testing with diverse users to transform
how employers engage with and listen to their employees. The app will run live with
selected early adopters. To learn more, please visit (Feet’s website).

Kenanga Investment Bank Berhad (“Kenanga Group”) receives 6 awards out of the 18 categories at the prestigious Bursa Excellence Awards event.

Winning the ‘Best Trading participant Equity and Financial Derivatives’ for the 16th consecutive year, underlines the Group’s efforts in promoting sustainable performance and growth.

“It is an honour to receive these recognitions. We are encouraged by these distinguished awards, which reinforce our commitment towards driving innovations and collaboration in the marketplace.  As the largest independent investment bank in the country, we look forward to continue playing our part in shaping the future of capital markets in Malaysia,” says Datuk Chay Wai Leong, Group Managing Director, Kenanga Group.

Organised by Bursa Malaysia, the Bursa Excellence Awards 2018 was themed “Outthinking, Outlasting, Outstanding”, a tribute to the market participants who successfully navigate various market cycles through perseverance and sound judgement. It recognised their agility, innovativeness and versatility in being able to step up to stay relevant in business. The event featured 18 award categories honouring participating organisations and individuals who helped build the capital market across three segments, namely equities, derivatives and the Islamic capital market.

The event was graced by the presence of Dato’ Asri Hamidon, Deputy Secretary General (Investment), Ministry of Finance Malaysia; Datuk Syed Zaid Albar, Chairman, Securities Commission Malaysia; Datuk Shireen Ann Zaharah Muhiudeen, Chairman, Bursa Malaysia Berhad as well as Datuk Muhammad Umar Swift, Chief Executive Officer, Bursa Malaysia Berhad.

Affin Hwang Capital was named the best broker by Bursa Malaysia last night, being awarded the ‘Best Overall Equities Participating Organisation’ at the Bursa Excellence Awards 2018, staying true to its promise to “Out Think” and “Out Perform” for all its clients.

At the event, Bursa Malaysia recognised top performing brokers and market
intermediaries for their contributions and achievements towards the growth and
vibrancy of the capital market at the Bursa Excellence Awards 2018 held, at Shangri-
La Hotel Kuala Lumpur.

This was a proud achievement for Affin Hwang Capital as its 5th consecutive year
receiving the most coveted Bursa Award, further solidifying its reputation as a leading
investment bank in Malaysia.

“Affin Hwang Capital is proud and delighted to receive this award for the fifth
consecutive year. The award signifies our continued commitment to serve our clients
with the utmost level of excellence and professionalism, and we are grateful for our
clients’ continued trust and confidence”, said YBhg. Datuk Maimoonah Hussain,
Group Managing Director of Affin Hwang Capital.

“We continue to work hand-in-hand with Bursa Malaysia to further grow the Malaysian capital market and we are grateful to Bursa Malaysia for this recognition”, she added.

Besides the top award, proprietary day trader with the Bank, Goh Kwong Giap bagged the second runner-up winner of the ‘Best Proprietary Day Trader’ Award.

On the same night, Affin Hwang Capital also received the Most Outstanding Sustainable Sukuk Product Award for Tadau Energy Sdn Bhd’s RM250 million Green Sukuk at the 15th KLIFF Islamic Finance Awards 2019 by Centre for Research And Training (CERT).

Tadau Energy’s Green Sustainable Responsible Investment Sukuk (Green Sukuk), arranged by Affin Hwang Investment Bank Berhad in July 2017, was the World’s and Malaysia’s first Green Sukuk, and Malaysia’s first large-scale solar project which tapped the capital markets for its
project financing.

The Green Sukuk marked a significant milestone for the Malaysian capital markets, and reinforced the country’s position as the marketplace of innovation, expertise and deal flow. It has received numerous awards and recognition as a pioneering Islamic Green Sukuk, such as the ‘Most Innovative Green Sukuk Issuer’ at the Utility / Energy Awards 2018 by International Finance
Awards, and the ‘Best Green Sukuk / Most Innovative Deal’ at The Asset Triple A Islamic Finance Awards 2018.

Carlsberg Brewery Malaysia Berhad (the Group) summed up the 2018 financial year ending 31 December 2018 (FY18) as probably its best year on the back of robust demand and successful innovation for Carlsberg as well as the Group’s premium brands Kronenbourg 1664 Blanc, Somersby, Connor’s and Asahi.

During its Annual General Meeting held at Sime Darby Convention Centre in Kuala Lumpur, it announced a 14.6 percent revenue growth to RM1.98 billion year-on-year in FY18. During the same period, the Carlsberg brand grew 12 percent while premium brands grew 20 percent across Malaysia and Singapore.

Among innovations for FY18 include Carlsberg Smooth Draft, pull-off cap, draft master home, sparkling wine-like flavours for Somersby and mini cans for Asahi, to name a few.

For FY18, the Group’s net profit also increased by 25.3 percent to RM277.2 million fuelled by revenue growth from higher commercial investments. Within the same period, the Group improved free cash flow by 7.4 per cent to RM328.0 million compared with RM305.3 million in FY17.

During the business review presentation by outgoing Managing Director Lars Lehmann commented, “FY18 was the best year in the history of the Group driven by strong growth across all our brands. This enabled us to pay out a record dividend of 100.0 sen per share to our shareholders, equivalent to 110.3 percent of the Group’s net profit in FY18.

“The increased investments behind our SAIL’22 strategy, especially ‘Strengthen the Core’ and ‘Position for Growth’, have enabled us to grow consistently amidst a challenging business environment in Malaysia and Singapore.

“This year, the rising costs of raw and packaging materials have a negative impact on
production costs whereas the smoking ban has had adverse effects on consumption in
eateries. However, we remain focused in our investments in great innovations, excellent
product quality and relevant consumer activities,” he added.

Lehmann also cited contraband beer as the biggest challenge for Carlsberg Brewery while  the introduction of SST together with increased cost of raw materials resulted in higher prices of beers. However, he assured that there would be no more price increases for this year.

As an established brewer of almost 50 years, the Group continues to support local industries and job creation as well as generating commercial activities throughout its value chain in line with its purpose of Brewing for a Better Today & Tomorrow.

Across its operations in Malaysia and Singapore, the Group employed 2,027 staff and sales
promoters in FY18 and contributed towards government revenues via excise duties amounting to RM938 million, which was up 13 percent year-on-year. The Group also paid RM77 million in corporate taxes and RM59 million in SST and GST to or on behalf of the Malaysia and Singapore governments.

In support of its Together Towards ZERO sustainability ambitions, the Group reduced its
carbon footprint, championed responsible drinking, and upheld safety practices in its
operations, including setting a new safety record of 405 consecutive days without lost-time
accidents at its brewery in Shah Alam.

Carlsberg Malaysia remains committed to supporting local vernacular education with the Top Ten Charity Campaign – Probably The Best Fundraising Platform for Chinese Education – which has raised more than RM520 million for over 600 schools throughout its continued run of more than 30 years.

Bursa Malaysia, The Malaysian Institute of Accountants (MIA) and The Malaysian Institute of Certified Public Accountants (MICPA) jointly launched the National Annual Corporate Report Awards or better known as NACRA.

Themed, “Towards Accountability & Excellence” NACRA 2019 underscores the vital role annual reports play in propagating transparency and enhancing the integrity of the capital market.

“Healthy competition motivates and encourages innovation, excellence and continuous improvement, and that is what we have envisioned for NACRA to promote in corporate reporting.” said En Ahmad Zahirudin Abdul Rahim, NACRA’s Organising Committee Chairman.

He went on to share, “As NACRA aims to continually improve on the presentation quality of annual reports, we review the guidelines every year and make enhancements to be in line with current requirements and trends.”

Mr Stanley Teo, Chairperson of NACRA’s Adjudication Committee shared in his speech that “The NACRA 2019 adjudication process will be carried out in two stages by an independent panel of expert adjudicators who are well-versed with the latest issues and developments. Our adjudicators are hand-picked from various sectors such as commerce and industry, public accounting, securities firms, advertising and communication firms as well as academia, in accordance with their relevance to the area they are assessing.”

“In line with achieving Sustainability in all areas, NACRA is also improving the adjudication process by reducing our carbon footprint – instead of the 50 hard copies of annual reports that have been requested for in the past, we have reduced this to just 5 copies, plus a PDF soft-copy version of the report for our adjudicators to review,” added Mr Teo.

A representative from CIMB Group Holdings Berhad, winner of the Platinum Overall Excellence Award in 2018, gave a short presentation on their experience in producing an award winning corporate report.

Sixty-plus international organisations, led by the United Nations and including the International Monetary Fund, the World Bank Group and World Trade Organisation, jointly sounded the alarm in a new report, warning that unless national and international financial systems are revamped, the world’s governments will fail to keep their promises on critical issues such as combatting climate change and eradicating poverty by 2030.

In their 2019 Financing for Sustainable Development Report, the international organizations find some good news: investment has gained strength in some countries and interest in sustainable investing is growing, with 75 per cent of individual investors showing interest in how their investments affect the world.

And yet, greenhouse gas emissions grew 1.3 per cent in 2017; investment in many countries is falling; and 30 dery in financing sustainable development is not just about raising additional investment, says the report. Achieving global goals depends on supportive financial systems, and conducive global and national policy environments.

Yet the report warns that creating favourable conditions is becoming more challenging. Rapid changes in technology, geopolitics, and climate are remaking our economies and societies, and existing national and multilateral institutions – which had helped lift billions out of poverty – are now struggling to adapt. Confidence in the multilateral system has been undermined, in part because it has failed to deliver returns equitably, with most people in the world living in countries with increasing inequality.

“Trust in the multilateral system itself is eroding, in part because we are not delivering inclusive and sustainable growth for all,” said António Guterres, Secretary-General of the United Nations, in his foreword to the report. “Our shared challenge is to make the international trading and financial systems fit for purpose to advance sustainable development and promote fair globalization.”

The international agencies recommend concrete steps to overhaul the global institutional architecture and make the global economy and global finance more sustainable, including:

• supporting a shift towards long-term investment horizon sovereign debt restructure with sustainability risks central to investment decisions;ring to respond to more complex debt instruments and a more diverse
• revisiting mechanisms for  creditor landscape;
• revamping the multilateral trading system;
• addressing challenges to tax systems that inhibit countries from mobilizing adequate resources in an increasingly digitalised world economy; and
• addressing growing market concentration that extends across borders, with impacts on inequality.

At the national level, the report puts forward a roadmap for countries to revamp their public and private financial systems to mobilise resources for sustainable investment. It introduces tools for countries to align financing policies with national sustainable development strategies and priorities.

The United Nations Economic Commission for Asia and the Pacific (ESCAP) has produced a complementary report on “Financing for Development in Asia and the Pacific: Highlights in the Context of the Addis Ababa Action Agenda, 2019 Edition”. Among other findings, the ESCAP report emphasises the importance of raising public resources to finance urban infrastructure development in a context of breakneck urbanization and enhancing capacity-building efforts in the area of infrastructure financing and public-private partnerships.

The ESCAP report also underlines the need to scale up investments and international development cooperation to facilitate the attainment of the Sustainable Development Goals in the region. “In a region as diverse as ours,” pointed out Armida Salsiah Alisjahbana, Under-Secretary-General of the United Nations, and Executive Secretary of ESCAP, “investment needs vary considerably. Least developed countries need to invest the most at 16 percent of GDP while South and South-West Asia has an investment need of 10 percent of GDP to reach the goals by 2030.”

Finally, the United Nations Development Programme’s (UNDP) Regional Bureau for Asia and the Pacific in partnership with the Asian Development Bank has prepared another complementary report entitled “Integrated Financial Solutions: How Countries are Innovating to Finance the Sustainable Development Goals”. Based on more than 40 case studies from around the world, the report documents integration efforts across public and private financing of the SDGs, with a focus on the connection between planning processes, budgeting and policies to engage the private sector.

Small businesses in Singapore grew less strongly than their counterparts in South-East Asia, despite growing at their strongest pace in three years in 2018 and outperforming other developed economies like Australia, Hong Kong, New Zealand and Taiwan, according to a survey by CPA Australia.

Singapore business owners are also reporting an optimistic outlook on growth this year.

According to CPA Australia’s 10th annual Asia-Pacific Small Business Survey, 58.7 per cent of small businesses in Singapore grew from 2017 to 2018, the best result since 2015.

This is much lower than the growth rates of 65.5 per cent and 86.6 per cent of small businesses in Malaysia and Indonesia respectively.

The survey gathered data from over 3000 small business operators in Malaysia, Vietnam, Indonesia, Hong Kong, Singapore, Australia, the Philippines, Taiwan, New Zealand and Mainland China.

Looking into 2019, despite challenging global economic conditions, 60.7 per cent of small businesses are expecting to grow this year; the best result for Singapore since 2013.

But their outlook is more cautious compared with other countries in the Association of South-East Asian Nations (ASEAN) surveyed.

On a promising note, nearly one third of Singapore’s small businesses expect to add staff in 2019, the highest since 2014.

Increasing costs remain one of the biggest challenges facing Singapore’s small businesses with 45.9 per cent of those surveyed stating that increasing costs had a major negative impact on their business. Not surprisingly cost control was one of the major factors small business owners identified as having a positive impact on their business in 2018.

The survey found that Singapore’s small businesses, like their counterparts in the rest of Asia, have demonstrated a strong focus on using digital technologies in their business, with 62 per cent of small businesses generating revenue from online sales. However, there is room for growth, as only 37.3 per cent of the small businesses surveyed generated more than 10 per cent of their sales online compared with the survey average of 50.3 per cent.

CPA Australia’s manager of Business and Investment Gavan Ord says a stronger focus on online sales would be beneficial for Singapore’s small businesses, as the survey shows there is a strong link between this and business growth.

“An overwhelming majority of small businesses in Singapore use social media for business purposes, with only 22.1 per cent who do not use social media for their business. The most popular use of social media is to promote their business, and the platform they get the most value from is Facebook.

“Some small businesses could consider expanding how they use social media, with the survey showing that businesses that use social media to learn about the behaviours of customers and potential customers, and to receive and monitor customer feedback, are much more likely to be growing strongly,” Ord says.

Another challenge facing Singapore’s small businesses is the relatively difficult financing..Recent Budget announcements on improving small businesses’ access to finance may help reduce these concerns for some small businesses.

The threat of a major disruption to global trade because of trade disputes concerns many of Singapore’s small businesses, with 38.9 per cent stating that they believe it will have a negative impact on their business in 2019.

“Despite uncertainties such as global trade tensions, it is heartening to see a more positive outlook from small businesses in Singapore. In Budget 2019, the Singapore Government introduced measures to support small businesses to develop their digital capability and enhance the skills of their workforce. This will go a long way to encourage the small business sector to adopt digital technology, which the survey shows, is an enabler for growth,” says Mr Chng Lay Chew, Singapore Divisional President, CPA Australia.

Experian, the world leader in information services, announces that it has powered over 4.8 billion credit offers since 2010 to the unbanked and underserved communities in South-East Asia. Globally, that number has hit 8.1 billion.

Through its proprietary technology, Experian leverages telecommunications (telco) subscribers’ usage and behavioural data to create financial identities for individuals without formal credit profiles, accelerating financial inclusion in South-East Asia and the rest of the world.

South-East Asia is a high growth region and home to over 600 million people, with almost three-quarters of them (73 per cent) not having a bank account. The over 4.8 billion credit offers in South-East Asia were generated through Experian’s Dynamic Airtime Advance (DAA) solution, which offers airtime advances to consumers on prepaid mobile plans.

This solution is especially relevant to South-East Asia where the majority of mobile phone subscribers are on prepaid plans. For example, Indonesia, South-East Asia’s largest mobile phone market, has 98.3 per cent of its subscribers on prepaid plans. Other notable markets with high concentrations of prepaid subscribers include Malaysia with 72.6 per cent. In such situations, Experian’s DAA becomes a key first credit experience for a consumer. This paves the way for potentially a wider and complete set of financial services for the consumer, unlocked by Experian’s strong analytics.

Dev Dhiman, Managing Director, South-East Asia & Emerging Markets, Experian said, “The DAA solution is an example of how Experian is leveraging on alternative data as a starting point to build financial identities for the unbanked and underserved communities across Southeast Asia. Together with our other efforts around investing in and working with key financial marketplaces in the region such as CekAja and RinggitPlus, we remain committed to the region and aim to continue empowering consumers with enhanced access to financial products.”

DAA offers are extended to eligible high-value, low-risk prepaid mobile phone subscribers when their mobile phone account balances are running low. The offer for every eligible subscriber is determined by their credit risk profile, top-up behaviour, airtime and data usage and response rates. Over time, the service builds up a profile for eligible subscribers by monitoring their usage and behavioural patterns which can help create stronger financial identities for eligible subscribers.

Experian’s DAA solution has supported and empowered communities in times of emergency and distress. For instance, after a natural disaster occurred in a South-East Asian market, Experian worked with the telco to offer emergency credit advances to all of the telco’s subscribers for three days regardless of their eligibility. Subscribers were able to remain in touch to alert their friends and families of their safety and whereabouts.

Extending its engagement beyond building the initial financial identity of consumers with DAA, Experian also works with its partner multi-national organisations, using anonymised subscriber usage and behavioural data, to facilitate premium pre-qualification of consumers for financial institutions to extend cash loans, credit cards and insurance to them.

Experian is focused on making a social impact in the underbanked markets by maximising the use of alternate data such as telco data, to help strengthen the financial identities of the consumers, thereby enhancing their quality of life.

Experian is the world’s leading global information services company. During life’s big moments – from buying a home or a car, to sending a child to college, to growing a business by connecting with new customers – we empower consumers and our clients to manage their data with confidence. We help individuals to take financial control and access financial services, businesses to make smarter decisions and thrive, lenders to lend more responsibly, and organisations to prevent identity fraud and crime.

The Muslim travel market is one of the fastest growing tourism sectors in the world, but despite its huge potential, remains relatively untapped. By 2026, the Halal travel sector’s contribution to the global economy is expected to jump 35 percent to USD300 billion, up from USD220 billion in 2020. By that time, Muslim visitors globally are forecast to grow to 230 million visitors, to represent more than 10 percent of tourists worldwide.

For the first time, Malaysia and Indonesia share the top spot in the Mastercard-CrescentRating Global Muslim Travel Index (GMTI) 2019. The report includes 130 destinations globally, within and outside the Organisation of Islamic Cooperation (OIC). Singapore continues to be the top Muslim-friendly travel destination among non-OIC destinations, followed by Thailand, the United Kingdom, Japan and Taiwan.

The GMTI tracks the health and growth of Muslim-friendly travel destinations in four strategic areas – access, communications, environment and services. The GMTI is now the leading study providing insights and data to help countries, the travel industry and investors gauge the development of travel sectors while benchmarking a country’s progress in catering to Muslim travelers.

Indonesia ties for top Muslim-visitor destination

 Indonesia has reached the top spot on the Index through the sustained efforts by the Indonesian Ministry of Tourism to invest in its tourism and travel industry, and develop Muslim-tourist friendly infrastructure. Climbing up from number two, Indonesia now shares the top spot with Malaysia, with a score of 78 on the Index.

Other OIC countries including Turkey, Saudi Arabia, Morocco, Oman and Brunei continue to be popular with Muslim tourists. These destinations can continue to reap the benefits of their inherently Muslim-friendly environment by leveraging new technologies to strategically build services that better engage young, millennial Muslim travelers.

Asian nations dominate non-OIC destinations

Among non-OIC countries, Singapore, Thailand, the United Kingdom, Japan and Taiwan have retained their positions in the top five and have further improved their scores on the Index.

In a first for South Korea and the Philippines, these countries have entered the top 10 non-OIC destinations, displacing Germany and Australia. Spain has also entered the list of top 10 non-OIC countries, emerging as a key Halal-friendly European destination for Muslim travelers this year.

In an effort to attract more Muslim tourists, non-OIC destinations have been much more active, as compared with some OIC destinations, in developing their capacity and capability to attract Muslim travelers. For example, destinations such as Spain, South Korea and the Philippines have developed useful resources and travel guides that cater to Muslim preferences by listing best Halal restaurants and nearby prayer facilities.

Halal Travel 2.0 

The Halal travel market has undergone significant changes in recent years. At the start of this decade, businesses, hotels and tour operators provided functional services that catered to the needs of Muslim tourists – Halal Travel 1.0. These offerings included Halal food options, water-friendly washrooms, and prayer facilities.

Driven by the rapid pace of digital and technological transformation, a new phase of Muslim travel is emerging, one that is defined by experience and connectivity – Halal Travel 2.0. Halal Travel 2.0 leverages on technologies such as artificial intelligence, augmented reality and virtual reality, to better engage Muslim travelers in the digital age.

Halal Travel Development Goals

CrescentRating has defined five categories that can help further develop the Halal travel sector. The Halal Travel Development Goals provide an overarching framework that serves as a blueprint for the travel industry. Organizations and partners can use these goals to guide their growth strategies in the Halal travel sector.

Five Halal Travel Development Goals include:

1. Integration, Diversity and Faith: Enable Muslims to be active citizens of the global community while remaining spiritual.
2. Heritage, Culture and Connection: Connect Muslim travelers to one another, to the local community, and to the heritage and history of their chosen destination.
3. Education, Insights and Capabilities: Enhance understanding among communities. Increase academic and industry knowledge that can improve the capabilities of stakeholders.
4. Industry, Innovation and Trade: Create new opportunities to increase commerce through tourism and drive growth across multiple sectors.
5. Well-Being and Sustainable Tourism: Recognize the responsibilities of stakeholders in the travel sector and the social impact on travelers, the wider community and the environment.

“As the Muslim travel market continues to grow and evolve, we believe, this report along with the ‘Halal Travel Frontier 2019’ report released earlier this year, sets the stage for the next phase of development in this unique travel segment- Halal Travel 2.0. The report also presents the five ‘Halal Travel Development Goals’ as well as the updated ‘Muslim Faith Based Services Needs’ to help all stakeholders develop clear plans to grow the market,” said Fazal Bahardeen, CEO of CrescentRating & HalalTrip.

“Mastercard is committed to working with partners to expand this dynamic travel segment. As more Muslim travelers explore the globe, they will need trusted, safe, and secure digital payments solutions. Mastercard is pleased to collaborate with CrescentRating to empower all stakeholders with actionable insights, and to develop specially curated offerings that meet the religious and cultural needs of Muslim travelers,” said Safdar Khan, Division President Indonesia, Malaysia & Brunei, Mastercard.

The full report is available at: https://www.crescentrating.com/halal-muslim-travel-market-reports.html.