MDBCONNECTS 2017 - 1

outlook 2017 aec Year in Review

Makers & Drivers of Business & Commerce

eu / asean UPDATE

The Netherlands remains a leading source of foreign investments into Malaysia

ISSUE: 1st edition 2017

INVESTING IN MALAYSIA & THE NETHERLANDS

CONTENTS MDBC EVENTS / 10

Outlook 2017 MDBC New Year’s Reception ALYA WTA Malaysian Open InterChamber

MEMBERs news / 13

BIG STORY

Malaysia FDI Stock FDI Stock by Sector as at Dec 2016 Agriculture, 2%

INVESTMENT YEAR IN REVIEW / 20

NEW MEMBERS / 36 SOCIAL / 38

EU / ASEAN / 30

Mining, 7%

FDI Stock as at end of Q4 2016 totaled RM 545.6 600 500

AEC UPDATE / 32

400 300 200 100 0

As at end of 2008 2009 2010 2011 2012 2013 2014 2015 2016 271

313

366

406

446

475

505

546

RM billion

% Contribution

1. Singapore

115.7

21.2

2. Japan

70.5

12.9

3. Netherlands

48.2

8.8

4. Hong Kong

44.1

8.1

5. USA

36.2

6.6

6. Switzerland

25.5

4.7

7. Germany

19.7

3.6

8. British Virgin Islands

19.3

3.5

9. Norway

19.1

3.5 73.0

Sub-total (top 9 economies)

398.3

Total FDI Stock

545.6

Source: DOSM MALAYSIA INVESTMENT PERFORMANCE REPORT 2016

COMMUNITY

10

/28

STUDENT INTERNSHIP PROGRAM / 23 EMBASSY NEWS / 25

DIALOGUE

/20 Country

Construction, 1%

RM billion 255

MY Services / 35

FDI Stock by Major Sources as at Dec 2016

Manufacturing, 43%

Services, 47%

RM billion

MEMBERS

eu / EUMCCI / 28

/30

sINGLE PAYROLL / 19 GOING AGILE / 27

MDBC PREMIUM PARTNERS 2017

INTERMO ERS malays a

CMYK CODES: C:20, M:100, Y:100, K:0 C:100, M:100, Y:0, K:0 C:100, M:100, Y:25, K:30

MDBCONNECTS 1ST ISSUE 2017

5

Message from the ambassador: to continue the close cooperation Malaysia. On things of substance, we have also made a difference. After eight years of stagnation, The Netherlands finally fully accepted the Malaysian Timber Certification Scheme (MTCS).

The embassy has been working hard to contribute to this important breakthrough which gives much needed support to Malaysia’s efforts in the field of forest management. The acceptance of the MTCS opens the door for more intense cooperation in other sectors as well.

Dear MDBC Members, 2017 is already well underway and so is my posting in Malaysia. I have been here for over half a year now and had a “soft landing” in Kuala Lumpur. Malaysia is living up to its reputation of being an excellent place for doing business. The heartwarming hospitality of everyone here as well as the high quality of life is making this a wonderful place to live.

My first few months here were packed with getting to know everyone. I have done a lot of “eating for my country”, have been posing for about 30,000 pictures, visited dozens of companies, ministries and organizations, and collected over 2,000 business cards in the first half year here in

We are working with Malaysia and a consortium of Dutch companies and knowledge institutions on increased cooperation on sustainable palm oil. The aim is to make better use of the biomass and waste products of the palm oil industry, thus turning waste into wealth, or in this case, green energy.

We had a successful exchange of students from The Netherlands and the ASEAN region working together on Circular Economy challenges in the Orange ASEAN factory. We intensified our cooperation with Malaysia in the field of higher education and signed some concrete cooperation agreements. We have taken up issues of concern for Dutch companies, such as the foreign currency exchange ruling and

the withholding tax, with the relevant authorities. We will continue to work on these issues in 2017.

The economic ties between The Netherlands and Malaysia are close and intense, as shown by the many visitors and delegations we receive from The Netherlands; In fact, The Netherlands (according to the recently published figures from MIDA) was the second largest investor in Malaysia in 2016 (and the largest investor from the EU).

The EU as a whole is the largest investor in Malaysia. We should try to make the important contribution of the EU and The Netherlands to the Malaysian economy more visible and build on it to further strengthen our economic position in this region.

The vibrancy of our economic relation with Malaysia is also reflected by the MDBC, which celebrated its 20th anniversary and welcomed its 250th member in 2016. It has been a great pleasure to work closely together, and a privilege to be able to build on the experience of such an active and dynamic business council. I look forward to the continuation of the close cooperation between the embassy and the MDBC (and all of its members) in the years to come!

H.E. Karin Mössenlechner Ambassador of the Kingdom of the Netherlands

MDBC BOARD OF DIRECTORS Mr. Zainul Rahim Mohd Zain, Chairman Hibiscus Petroleum Berhad

Ms. Marjolein van Herk - van Tilburg Kneppelhout & Korthals Lawyers

MDBC Executive Director: Mr. Marco Winter

Mr. Michiel Brouwer, Vice Chairman Shell Malaysia

Mr. Wouter van der Weijden &samhoud

Ms. Mirjam Van Thiel, Treasurer Dutch Lady Milk Industries

Mr. Philip Kunjappy Sime Darby Berhad

MDBC Patrons: Y.B. Dato’ Sri Mustapa Mohamed Minister of International Trade & Industry

Mr. Jurriaan Middelhoff Netherlands Embassy

Mr. Suerd Polderdijk Frames Asia Pacific Sdn Bhd

Mr. Remco Koster Woodwing Asia Pacific Sdn Bhd

Ms. Maud Meijboom - van Wel HEINEKEN Malaysia

Datuk Merlyn Kasimir Former CEO of Matrade Mr. Jack Ang Markant (M) Sdn Bhd

Honorary Member of the Board: H.E. Ms. Karin Mössenlechner Netherlands Ambassador

Y.Bhg Tan Sri Rafidah Aziz Former Minister of Int’al Trade & Industry Malaysian Dutch Business Council Unit 808, 8th Floor Wisma Lim Foo Yong 86 Jalan Raja Chulan 50200 Kuala Lumpur Tel Fax Email Website

: 603 - 2722 8335 : 603 - 2141 8335 : info@mdbc.com.my : www.mdbc.com.my

CALENDAR

APRIL Mon 3 / 9:30am

MDBC Penang: MY Critical Issues TMF Penang

FRI 7 / 3:00pm

Briefing on the Company’s Act Skrine

THU 13 / 9:30AM

In Conversation W/ MY Critical for SG’s success Sheraton Imperial

TUE 18 / 9:00am

Education 360: Dealing with the Dutch TBC

Thu 27 / 9:30am

EUMCCI Trade & Investment Forum 2017 Sheraton Imperial

MAY tue 30 / 10:00am

MDBCONNECTS Fair 2017 TBC

NOTICE:

MDBC members will receive personal invitations for these functions by e mail once all details are confirmed.

All events/dates to be reconfirmed.

MDBCONNECTS 1ST ISSUE 2017

9

An Outlook to 2017, an ever festive New Year’s Reception and networking at the ALYA WTA Malaysian Open!

outlook 2017 Our ever popular Outlook event started the MDBC Event Calendar off on 16 January 2017 at the MIDA office in KL Sentral.

It put attendees ahead of the competition by providing them with insights into 2017.

Featuring subject matter experts across economic / financial, and socio - political areas, attendees listened to speakers touch on what to expect from the results of last year’s US presidential elections, UK’s referendum, upcoming elections in the EU (specifically The Netherlands, Germany, and France), and possible elections in ASEAN (Malaysia and Thailand).

Speakers and topics included: * H.E. Karin Mössenlechner (Ambassador, Embassy of the Kingdom of the Netherlands): The Netherlands and Malaysia * Marcel Roijen (Head of Political

Affairs - Press and Information, EU Delegation to Malaysia): EU and Malaysia * Adib Zalkapli (Senior Associate, Vriens & Partners): ASEAN and Malaysia * Wan Saiful Wan Jan (CEO, IDEAS): Malaysia - Political Outlook * Lodewijk Govaerts (Senior Banking Executive): Malaysia - Economic / Banking Outlook MIDA Deputy CEO Dato’ Phang Ah Tong gave the welcome remarks.

Speakers also participated in a panel discussion after their presentations which was moderated by Ng Yeen Seen (COO, ASLI). Attendees were afforded the opportunity for more indepth questions and discussions at roundtables with each speaker after the panel discussion. For additional photos from this event, please see page 38.

MDBC New Year’s Reception Held on 18 January at the Residence of the Ambassador of the Netherlands, there was a great turnout at the MDBC New Year’s Reception. MDBC members and Honorary Members mingled with numerous representatives of government, diplomatic, NGO, media and corporate organisations and agencies.

Main parties in our network such as the Ministry of International Trade & Industry, MIDA, Matrade, InvestKL, invest Selangor, MDEC and TalentCorp were all well represented.

The evening was well supported by the Netherlands Embassy, HEINEKEN (for the beer), Uhrenholt (wide variety of cheeses) and Albatross Exim (seafood).

For additional photos from the MDBC 2017 New Year’s Reception, please see pages 38 and 39.

10

MDBCONNECTS 1ST ISSUE 2017

Top: Guest at the annual MDBC New Year’s Reception Bottom left: MDBC Executive Director Marco Winter, Netherlands Ambassador H.E. Karin Mössenlechner, and MDBC Chairman Zainul Rahim after giving their traditional welcome speeches.

Bottom right: Guest enjoying the variety of cheese on offer that evening provided by MDBC member Uhrenholt.

INTERCHAMBER AT THE ALYA WTA MALAYSIAN OPEN 2017 MDBC once again organized our sporty InterChamber with 15 of our colleague Business Councils and Chambers of Commerce.

Attendees to this always popular networking event were able to watch world class women’s tennis live on the Centre Court of the TPC Kuala Lumpur (formerly known as the Kuala Lumpur Golf & Country Club KLGCC), and network with other invited business entities in comfort and style at the ALYA WTA Malaysian Open VIP Skybox.

Attendees were also treated to a special ‘Behind the Scenes’ Tour which was conducted by Event Director and Executive Chairman of Carbon Sports, Keld Kristiansen.

Top: Attendees were also able to participate in a lucky draw with a wide variety of prizes Bottom: Enjoying the center court action from the exclusive VIP Skybox

As its eighth successful iteration in Malaysia, the ALYA WTA Malaysian Open showcased 32 of the tournament’s top Singles Players and 16 Doubles Teams vying for the Singles and Doubles titles respectively.

MDBCONNECTS 1ST ISSUE 2017

11

1st Edition 2017 The Netherlands ranked second worldwide for economic stability.

KUALA LUMPUR, MALAYSIA

ONE RINGGIT

Members News

DMT to build largest installation

Long term unemployment in The Netherlands fell in 2016.

IMCD Malaysia grand opening IMCD Malaysia now occupies part of the 28th floor of The Ascent, Paradigm with a stunning view of Kuala Lumpur. The official opening took place on Friday, 17 February 2017.

At the biggest project in the history of DMT and biogas upgrading, with high selective membrane technology, pig manure will be digested into biogas.

DMT Clear Gas Solutions (CGS), part of DMT Environmental Technology, will build the pretreatment installation to remove sulphur, as well as provide the technology to upgrade the biogas. The upgraded biogas or biomethane will then be injected into the national gas grid in the United States to the benefit of 30,000 households.

“This is an amazing project. Not only because of its size but especially because of its relevance for the industry.” Robert Lems (General Manager, DMT Clear Gas Solutions LLC).

IMCD, headquartered in Rotterdam, The Netherlands, is a market - leader in the sales, marketing, and distribution of speciality chemicals and food ingredients across EMEA, Asia - Pacific, and the Americas.

Listed at Euronext, Amsterdam, IMCD realised revenues of €1,714.5 million in 2016 with more than 1,800 employees in over 40 countries on 6 continents.

The IMCD Malaysia team at the grand opening which also featured a traditional lion dance!

IMCD’s dedicated team of technical and commercial experts work in close partnership to tailor best in class solutions and provide value through expertise for around 34,000 customers and a diverse range of world class suppliers.

“Building partnerships in Asia to find sustainable solutions for oil, gas and energy.”

Suerd Polderdijk, General Manager Frames Asia Pacific, with Frames since 2011

Frames Asia Pacific Sdn. Bhd. Unit A-36-3, Menara UOA Bangsar 5 Jalan Bangsar Utama 1 59000, Kuala Lumpur, Malaysia +60 3 22840822 frames-group.com

MDBCONNECTS 1ST ISSUE 2017

13

KUALA LUMPUR, MALAYSIA

Members News

1st Edition 2017

UNILEVER COMMITS TO 100% RECYCLABLE PLASTIC PACKAGING BY 2025 Unilever recently announced a commitment to ensure that all of their plastic packaging is fully reusable, recyclable, or compostable by 2025. They also called on the Fast Moving Consumer Goods (FMCG) industry to accelerate progress towards the Circular Economy.

Treating plastic packaging as a valuable resource to be managed efficiently and effectively is key to achieving Sustainable Development Goal 12 (Sustainable Consumption & Production) and, in doing so, shifting away from a ‘take - make - dispose’ model of consumption to one which is fully circular.

Unilever made their commitment to help transform global plastic packaging material flows. They also announced that they will renew their membership of the Ellen MacArthur Foundation (EMF) for three years, to endorse and support EMF’s New Plastics Economy initiative.

As part of this, Unilever will publish the full ‘palette’ of plastics materials used in their packaging by 2020 to help create a plastics protocol for the industry.

Unilever has already committed to reducing the weight of the packaging they

use by one third by 2020, and increase their use of recycled plastic content in packaging to at least 25% by 2025.

In addition to ensuring that they meet the recycled plastic goal, Unilever will also ensure that there are established, proven examples of it being commercially viable for plastic reprocessors to recycle the material.

“Our plastic packaging plays a critical role in making our products appealing, safe and enjoyable for our consumers,” says Unilever CEO, Paul Polman.

“Yet it is clear that if we want to continue to reap the benefits of this versatile material, we need to do much more as an industry to help ensure it is managed responsibly and efficiently post-consumer use,” he added.

“To address the challenge of ocean plastic waste, we need to work on systemic solutions – ones that stop plastics entering our waterways in the first place. We hope these commitments will encourage others in the industry to make collective progress towards ensuring that all of our plastic packaging is fully recyclable and recycled.

We also need to work in partnership with governments and other stakeholders to support the development and scaling up of collection and reprocessing infrastructure which is so critical in the transition towards a circular economy. Ultimately, we want all of the industry’s plastic packaging to be fully circular,” he says.

Ellen MacArthur says: “By committing to ambitious circular economy goals for plastic packaging, Unilever is contributing to tangible system change and sends a strong signal to the entire fast-moving consumer goods industry.

Combining upstream measures on design and materials with post-use strategies demonstrates the system-wide approach that is required to turn the New Plastics Economy into reality.”

Architect and Circular Economy leader, William McDonough, adds: “The optimisation of packaging and plastics is so timely and important that all the people, communities and companies involved – suppliers, producers, retailers, customers and consumers – can work together now, with common values and purpose, to create and share beneficial value for generations to come.”

KLM Royal dutch airlines pronounced safest and most punctual airline Early this year, KLM Royal Dutch Airlines won two prizes. The German Jet Airliner Crash Data Evaluation Centre (JACDEC) declared KLM the safest European airline. KLM comes fifth in the JACDEC worldwide rankings.

KLM is also the most punctual airline, FlightStats recently announced. This aviation insights company publishes an annual list of international airlines with the best on - time performance records.

FlightStats compares airlines based on punctuality, flight schedules, and flight times. KLM holds first place for global arrival performance.

“This is a marvellous start to the new year. I see this as a wonderful acknowledgement of all our efforts in safety, punctuality, and customer focus.

14

MDBCONNECTS 1ST ISSUE 2017

We want to continue to give our customers a safe and pleasant travel experience in 2017,” shared Pieter Elbers (KLM President & CEO).

This month, KLM also welcomed its latest Boeing 777 - 300 at Amsterdam Airport Schiphol. The new arrival is named Darien National Park (pictured

below). Located in Panama, Darien National Park is home to the Choco and Kuna people. Darien National Park is a UNESCO World Heritage Centre, which means it is officially recognised as unique, irreplaceable, and important to the collective interest of humanity. KLM’s Boeing 777 fleet now consists of 28 aircraft.

1st Edition 2017

Mega fortris bags five awards at soba 2016

Members News

KUALA LUMPUR, MALAYSIA

Akzonobel reduces co 2 emissions thanks to new bio steam facility AkzoNobel, Eneco and Groningen Seaports have jointly invested €40 million in a new bio - steam plant. The converted plant delivers twice as much sustainable energy for the same amount of biomas.

An additional 10% of AkzoNobel’s energy consumption in The Netherlands now comes from renewable sources, resulting in a reduction of 100,000 tons of CO2 per year, equivalent to approximately one billion car kilometres, or 12,500 households.

Dutch Minister of Economic Affairs Henk Kamp, Eneco, and Groningen Seaports opened the facility which will supply steam from biomass to the chemical park at Delfzijl in The Netherlands - primarily for AkzoNobel’s Specialty Chemicals site.

Minister Kamp said, “The North of The Netherlands is leading the way in the transition to sustainable energy. The Northern provinces and

municipalities were the first to have a plan for implementing the Dutch Energy Agreement. The chemical park in Delfzijl is underlining these ambitions by switching to sustainably produced steam. By doing this, the parties involved are not only investing in energy reduction and lower CO2 emissions, they are also contributing to the regional economy by enabling the sustainable growth of the chemical cluster.”

Around 10% of total Dutch chemical production comes from Delfzijl and the industry is a major employer in the region.

The project is further improving the longterm competitiveness of the cluster of chemical companies at the site.

Eneco has entered into a 12 year contract with AkzoNobel for the supply of bio - steam. In addition, AkzoNobel will invest in the required infrastructure at the chemical park, offering continuity in the provision of a vital utility for other chemical companies at the location.

crops for the future receives grant approval Mega Fortris (Malaysia) Sdn Bhd, which specialises in the design and manufacturing of security seals, was the big winner of the night as the company bagged Malaysian Business of the Year (Above RM 25 million category), Gold for Best Global Market, Gold for Best Innovation, and Silver for Best Brand in the Above RM 25 million category.

Group Chief Executive Officer Adrian Ng Meng Poh, who also won Male Entrepreneur of the Year (in the Above RM 25 million category), said integrity and humility are timeless values that have built the company.

“It has been a journey of 20 years for us to get here and we will continue to strive forward to become number one in the world. My advise to young entrepreneurs is to continuously work and if you fall down, get up and start again. That is what I did,” shared Ng.

Crops for the Future, together with its partners - the International Institute for Tropical Agriculture (IITA), the Council for Scientific and Industrial Research Crops Research Institute (CSIR - CRI), and Bogor Agricultural University (BAU) - received a grant approval of just under US $500,000 from the Third Cycle of the International Treaty on Plant Genetic Resources for Food and Agriculture Benefit Sharing Fund (ITPGRFA - BSF).

It is the first project to be funded by ITPGRFA - BSF through the benefit sharing system with a Malaysian entity as the lead.

With the title “Genetic and trait characterisation of farmer and genebank sources of Bambara groundnut for the development of drought tolerant lines in sub - Saharan Africa and Southeast Asia”, the project aims to improve an already healthy and resilient legume to promote nutrition security, environmental protection, and income generation for the world’s most vulnerable regions. This project will also help boost the research and ‘relevance’ of this crop, with “the development of long - term research ‘hubs’ - one in Southeast Asia and one in West Africa - that will help ensure continued research and development.

The multi - locational field trials are currently underway, having started since mid - 2016. As drought stress becomes more prevalent in a globally changing climate, resilient underutilised species serve as an alternative to crops that may perform poorly in stressful environments.

It provides collaborators opportunities to address similar issues in terms of conserving crop diversity and more.

MDBCONNECTS 1ST ISSUE 2017

15

1st Edition 2017

Members News

MISI host first mit global scale roundtable The Malaysian Institute for Supply Chain Innovation (MISI) recently hosted a roundtable to discuss the implications for global supply chains of the current social, political, and technological upheavals at the MISI campus. This was the first of six roundtables to be held worldwide by the MIT Global SCALE Network.

KUALA LUMPUR, MALAYSIA

sime darby extends sponsorship for the management and ecology of malaysian elephants In an effort to save the gentle giants of Malaysia, Yayasan Sime Darby (YSD) is extending support for the Management and Ecology of Malaysian Elephants (MEME) project with a RM 1.9 million

commitment for another three years from Jan 2017 until Dec 2019. This year marks YSD’s sixth year of support for the MEME project to preserve Asian elephants in Malaysia.

(l to r): YSD Chief Executive Officer Puan Hajjah Yatela Zainal Abidin, YSD Governing Council Member Caroline Russell, University of Nottingham Malaysia Campus (UNMC) Vice-Provost (Research and Knowledge Exchange) Claire O’Malley and UNMC Associate Professor Dr Ahimsa CamposArceiz pose with Department of Wildlife and National Parks of Peninsular Malaysia (PERHILITAN) Enforcement Division Director Hasnan Yusop at the event to announce YSD’s extension of support to the MEME project.

The purpose of these roundtables is to stimulate and learn from a selected group of industry experts about the implications of the current socio - technical developments in the global business environment - e.g., rise of populism, purported revolution of Industry 4.0, shift of economic growth towards Asia, etc.

- on supply chains, and how companies should compete in the environment of heightened level of uncertainty. The insights from these roundtables will be published to a wide global community of supply chain leaders.

crown malaysia signs investment agreement with uem sunrise

(l to r): Leon Hulme, Anwar Syahrin Abdul Ajib and Raymond Cheah with the signed agreement.

Crown Malaysia has signed a Sales and Purchase agreement with UEM Sunrise Berhad on a new facility development in Iskandar Puteri, Johor. UEM Sunrise is a public-listed company and one of Malaysia’s leading property developers.

Being the master developer of Iskandar Puteri, UEM Sunrise will develop SILC phase 3 into the largest fully integrated urban development in Southeast Asia, providing significant investment, financial and business opportunities.

Crown Malaysia joined other international companies to invest in Southern Industrial Logistics Clusters (SILC) phase 3, a UEM Sunrise’s industrial park houses light to medium industries. With a purchased land size of 180,000 square feet, it will be developed into a facility capable of storing over 1.5 million boxes of corporate documents for its records management business as well as being home in the south of Malaysia for its relocations and world mobility businesses.

Leon Hulme (Managing Director, Crown Malaysia) expressed excitement at being a part of a catalytic development for Iskandar Puteri, said: “We have followed the development of Iskandar Puteri for a long time – from when it was a region that is full of promise to a vibrant town that is full of opportunities. We chose to invest in SILC phase 3 because we see it ideally located with its easy access to and visibility from the Malaysia-Singapore Second Link highway. Crown already has a growing business in the south of Malaysia and we believe it is important to show our commitment to the area for our current customers and be ideally placed for the growth in the market we believe is to come in the future.”

MDBCONNECTS 1ST ISSUE 2017

17

Realise your potential How TMF Group drives efficiency for global clients

The possibilities for business growth in Malaysia are limited only by your ambition. TMF Group is your trusted partner on the ground, helping you stay compliant and meet all local requirements.

Our experts based in Kuala Lumpur, Labuan and Penang act as an extension of your in-house team. We can take care of vital administrative tasks for HR and payroll, accounting and tax, corporate secretarial, international structuring and structured finance activities.

With offices in more than 80 countries, we’re the leading provider of global business services to clients operating and investing across the world.

Whether you’re a small start-up or large multinational, we have specialised, business-critical financial and administrative services to help you operate your corporate structures, finance vehicles and investments; so you can focus on growing your own products and services. info.apac@tmf-group.com

tmf-group.com/Realise-Potential

DIALOGUE

TMF GROUP: IMPROVING EMPLOYEE ENGAGEMENT SINGLE PAYROLL PORTAL system should be available online, and across desktop, tablet, or mobile. * Be interactive with their payslips.

Employees should be able to view, print, download and save payslips locally.

Delivery through an online portal is a far safer option for both the company and employees; unlike issuing payslips via methods such as e mail, which is still the case for many companies.

Consolidating payroll activity into one secure, interactive portal can improve efficiency, productivity, and allow greater employee engagement in a consistent way.

As businesses expand and hire in new locations, the need for effective payroll delivery becomes ever more important.

According to recent research from Bloomberg BNA, the future of effective multi-country payroll management will be shaped by technology and the use of secure online systems.

- 61% of multi - national organizations* currently share payroll data over e mail.

- 50% of multi - nationals still fail to encrypt employee data.

- Managing and approving multiple payroll processes across borders, amongst the most difficult global compliance challenges * Operating in more than six countries The Global Payroll Management Survey 2016, Bloomberg BNA / TMF Group Deborah Williams (Head of Global Business Services, TMF Group) explained, “As companies evolve in size and footprint, it becomes increasingly difficult to co - ordinate payroll activity and to maintain a consistent global approach.

The need for a centralised view on all payroll operations while meeting local in country requirements presents a complex challenge.�

As a leading multi - country payroll provider, TMF Group used its local

knowledge and expertise to develop TMF Horizon - a single, secure platform that allows businesses to view, exchange and report on payroll data for increased control and efficiency, both local and global. It provides clear workflows, calendars and dashboards, centralising the information all in one place, and making the payroll processes of remote offices as visible as those at HQ. For busy HR or payroll managers, payroll is not limited to simply providing employees with payroll results on time; they also need to share individual documents, make HR documentation available to keep employees up - to - date with the latest company policies, and of course, manage daily queries raised by employees about their pay and various entitlements.

An effective global payroll portal can allow organisations to deliver both company - wide and individual notifications, roll out policy documents and gain employee acceptance through one single, secure method. It can also enhance employee engagement through its ease of access and the greater visibility that it provides.

To help employees understand the information within the payslip, and thus reduce the number of day - to - day enquiries, employers should consider providing an example payslip with local specific annotations explaining payslip key notations. * Enter a centralised document library.

This way, employees can access documents such as employment contracts or corporate policies that employers want to share; such as a health and safety policy, or travel adn expenses document. Once again, this goes a long way to reducing the number of requests made to an HR department.

Communicate with their employer Instead of sending numerous e mail enquiries to an individual or a shared inbox, a portal allows employees to submit questions (with attachments) directly to the HR or payroll department through a ticket system.

The ability to raise query tickets linked to a payslip is advantageous for ease of processing - and these tickets should have inbuilt monitoring systems.

When selecting a global payroll portal, companies should consider the following functions that allow employees to:

An interactive, global payroll platform expands standard payroll service delivery to become an effective communication tool between employers and employees.

* Access their employment information anytime, anywhere.

Employees require flexibility to call on their payslips and other documents whenever they need them, so a good portal

Developing a cost - effective and truly global payrooll system in house is not easy. Partnering with a global service provider can overcome the challenges of managing payroll globally.

MDBCONNECTS 1ST ISSUE 2017

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INVESTMENT FIGURES YEAR IN REVIEW

MALAYSIA & THE NETHERLANDS Malaysia: 2016 Investment Report YEAR IN REVIEW Developed economies continued to be an important source of investments into Malaysia. The leading sources of foreign investments in 2016 were the USA, The Netherlands, China, Japan, Singapore, Republic of Korea, and the UK. These seven countries jointly accounted for 55.8% of total foreign investments approved in the manufacturing, services, and primary sectors.

continued to sustain its investment growth momentum in 2016,” said Dato’ Sri Mustapa Mohamed (Minister of International Trade & Industry (MITI)).

In 2016, Malaysia attracted RM 207.9 billion in total approved investments that wnd 4,972 projects in the manufacturing, services and primary sectors. These are expected to create 153,060 job opportunities for the country.

Malaysia Sustains Investment Growth Momentum. Approved Investments in 2016 worth RM 207.9 billion.

“The global economic landscape is undoubtedly more challenging. Headlines continue to highlight the slowdown in world economies which lead to weak aggregate demand, volatile international financial markets, subdued commodity prices, undertain economic policies, and more intense regional competition, among others. Despite these challenges, Malaysia

Global FDI flows fell 13% in 2016, reaching an estimated US$1.52 trillion, as global economic growth remained weak and world trade volumes posted anaemic gains.

FDI Stock by Sector as at Dec 2016 Agriculture, 2%

3,000 2,500 1,500

1,870 1,494

1,490

1,190 1,330

1,560

1,400 1,470

1,700 1,230

For the full investment report, please visit www.mida.gov.my.

Malaysia FDI Stock

Global FDI Inflows

2,000

In the Manufacturing Sector, The Netherlands was the second largest foreign investor with total investments of RM 3.2 billion in 18 projects approved. Investments in new projects amounted to RM 2.4 billion (5 projects), while investments in expansion / diversification projects amounted to RM 0.8 billion (13 projects).

The ratio of foreign and domestic investments is also in line with the Government’s aspirations for domestic investments to assume the pivotal role of driving Malaysia’s investment agenda, with 71.6% (RM 148.9 billion) being contributed by domestic sources and 28.4% (RM 59 billion) coming from foreign sources. FDI increased by 63.4% from RM 36.1 billion in 2015.

FDI Stock by Major Sources as at Dec 2016

Country

Manufacturing, 43%

115.7

21.2

2. Japan

70.5

12.9

3. Netherlands

48.2

8.8

4. Hong Kong

44.1

8.1

5. USA

36.2

600

6.6

6. Switzerland

25.5

500

4.7

7. Germany

19.7

3.6

8. British Virgin Islands

19.3

3.5

9. Norway

19.1

3.5 73.0

Services, 47%

500

Construction, 1%

-

6

RM billion

Malaysia’s FDI Inflows –by Sector RM43.4 bil.

RM41.2 bil.

In 2016, FDI inflows in the Services sector increased to RM20.9 bil. compared with RM12.6 bil. recorded in 2015

20.9

RM billion 255

(2.5%)

11.0

(26.8%)

2015 Construction

Domestic Investments

RM148.9 bil.

DDI FDI

2016

8

72%

Services sector remains strong and continues to lead with investment of RM141.2 bil.

Domestic Investments

RM 156.9 bil.

28%

2015

Domestic Investments continue to spearhead private investments

81%

366

406

446

475

505

Source: DOSM

546

10

5.0 4.5 4.0 3.5 3.0 2.5 2.0 1.5 1.0 0.5 -

RM Billion

China, the Netherlands, Germany, the UK and Republic of Korea were the main sources of FDI, contributing more than half of total foreign investments approved

4.7 3.2 2.6 2.6 2.2 2.1

1.9

1.4

1.3 0.6

19% Foreign Investments

RM59 bil.

Foreign Investments

RM36.1 bil.

MALAYSIA INVESTMENT PERFORMANCE REPORT 2016

20

313

Services

Investments by Sector & Source

Services RM 141.2 bil.

68%

271

Manufacturing

MALAYSIA INVESTMENT PERFORMANCE REPORT 2016

RM 207.9 bil.

545.6

(30.4%)

Source: DOSM

Manufacturing RM58.5 bil.

28%

Total FDI Stock

13.2

(18.4%)

Primary RM8.2 bil.

4%

398.3

Sources of FDI

(39.4%)

7.6

Sub-total (top 9 economies)

MALAYSIA INVESTMENT PERFORMANCE REPORT 2016

17.1

2.0

(4.8%)

Manufacturing

200

0

1.1

(50.7%)

Mining

300

As at end of 2008 2009 2010 2011 2012 2013 2014 2015 2016

(29%)

2016

400

100 12.6

RM Billion

Mining, 7%

FDI Stock as at end of Q4 2016 totaled RM 545.6

MALAYSIA INVESTMENT PERFORMANCE REPORT 2016

% Contribution

1. Singapore

1,520

1,000

Note: *Estimated Source: UNCTAD Global Investment Trends Monitor No.25, 2 February 2017

RM billion

MDBCONNECTS 1ST ISSUE 2017

14

MALAYSIA INVESTMENT PERFORMANCE REPORT 2016

19

INVESTMENT FIGURES YEAR IN REVIEW

The Netherlands: 2016 Investment Report YEAR IN REVIEW cord number of 227 foreign investment projects for The Netherlands, accounting for an investment amount of €1.47 billion.

The NFIA results show that over the past year, most new jobs were created in distribution centers (2,092), in manufacturing (1,475), at headquarters (1,218), and in service centers (1,097).

350 foreign investors, such as Oracle and Danone, were responsible for the creation of more than 11,000 new jobs in The Netherlands last year. Together, these companies invested €1.74 billion in the Dutch economy. These jobs and investments were secured by the Netherlands Foreign Investment Agency (NFIA), an operational unit of the Dutch Ministry of Economic Affairs, together with its regional partners in the Invest in Holland network.

In 2016, the NFIA was actively involved in the realisation of 227 projects in total.

These projects will lead to an investment amount of €1.47 billion and 7,570 jobs, of which 1,431 are related to retention of employment.

For the full investment report, please visit investinholland.com

Henk Kamp (Dutch Minister of Economic Affairs) said, “These great results confirm once again that The Netherlands is an attractive country for foreign companies.

Our population is highly educated, we have an excellent logistics infrastructure, and our digital highways are world leading.

The Netherlands has much to offer to international companies. This is made apparent by some 900,000 employees working for foreign owned companies in this country.”

The Minister added, “These foreign direct investments are important for our country. They support economic growth in the Netherlands and provide employment for thousands of people every year. That is why we should make sure we maintain an open economy and a competitive business climate.”

Dutch Minister for Foreign Trade & Development, Lilianne Ploymen, who is also partly responsible for the NFIA said, “These results clearly demonstrate the added value provided by the NFIA and Dutch Embassies and Consulates - General worldwide. The Netherlands is an attractive and stable country in which to invest and this is a message we need to communicate proactively.”

NFIA: Record Number of Foreign Investment Projects Within Invest in Holland, the NFIA was directly responsible for 7,560 out of 11,398 jobs. In 2016, the NFIA registered a reMDBCONNECTS 1ST ISSUE 2017

21

Drinkers of the world, unite.

Everywhere you go, you find the familiar sight of people savouring their Heineken, clanking the green bottles in merriment. Found in over 170 nations, Heineken is the world’s No. 1 international premium beer. So come, the rest of the world awaits you.

STUDENT INTERNSHIP PROGRAM Monkey theory The SIP Experiences of Jaimy van Oijen and Roos Dirksen at Monkey Theory (formerly known as Dusty Monkeys).

Together with 5 best friends, Delon Leong founded Monkey Theory and grew the company to an international presence. With the company’s mission of turning an idea, imagination and dreams into reality - in December 2015, the company made their first big step by bringing the giant brand of Slide the City into Southeast Asia.

They triumphantly organized their first 1,000 foot inflatable water slide event at Putrajaya, Malaysia. Ever since then, they have been organizing events in different states and countries.

Besides Slide the City, the company has other prominent event brands under their belt, namely Run For Your Lives Malaysia: the world’s most thrilling zombie run, Millioin Dollar Feet Malaysia: a football talent scouting program, and Brooks Run Out Pa-

hang International Marathon: home grown and the largest east coast marathon.

In comparison to a regular corporate culture, Monkey Theory is deeply rooted in a culture where unity, fun, and respect are prioritized. Although they work twice as hard to unite people through events, they also play twice as hard during company bonding activities on Friday evenings.

After welcoming the first batch of interns in July last year, Monkey Theory welcomed 3 additional interns this year thanks to the opportunity provided by MDBC. The company believes that bringing in interns provides fresh ideas and adds diversity to their culture, contributing international experience and knowledge to the events in-

dustry in Asia. In addition to international interns from The Netherlands, the team also consists of interns from China, South Africa, and Malaysia.

Jaimy van Oijen, a second year student from NHTV Breda shared, “My internship here started four weeks ago. I work at the marketing department handling customer service and I will usually handle customer inquiries about our events. For events like the one we have on 12 March - the Brooks Pahang International Marathon, customer service plays an important role. I am also assisting Roos and Dorcas (a Malaysian intern) to strategize and create a timeline and content.”

Roos Dirksen, a third year student from Hanzehogeschool in Groningen added, “I also started four weeks ago but it feels like I’ve been here for much longer. My daily tasks include content creation for upcoming events. At the moment I’m busy with Slide the City and I have to think of creative ideas for social media to get customers curious and excited again. During this internship I hope I will gain more experience in event management.”

MDBCONNECTS 1ST ISSUE 2017

23

No. 33, Jalan i - Park 1/3 Kawasan Perindustrian i - Park Bandar Indahpurah 81000 Kulai Johor, Malaysia Tel: +607 660 7878 Mail: info@hqpack.com.my

NETHERLANDS EMBASSY NEWS

FINANCING FOR DUTCH COMPANIES IN MALAYSIA government currently offers for companies active in Malaysia:

We have begun the second quarter of this year with good news from our partners at MIDA: The Netherlands is now the largest EU investor in Malaysia and the second largest investor overall. (For more information on this, please see page 20.)

Given that a lot of these investments come from you, the members of MDBC, I would like to take this opportunity to congratulate you, and thank you for your efforts and fruitful cooperation.

In February, the Dutch government announced a new investment authority named Invest-NL, to help Dutch companies obtain finance for projects that are unable to obtain (affordable) finance from commercial institutions. In the upcoming months, Invest-NL will be further developed, and it is targeted to be operational by the beginning of 2018.

With a capital injection of €2.5 billion from the Dutch government and additional funding from institutional investors and European funds, the investment fund hopes to support companies in three ways.

First, sectors that require large investments such as energy, sustainability, mobility and food will be able to apply for loans from Invest-NL. Second, InvestNL will be providing venture capital for innovative start-ups and scale-ups. Lastly, Invest-NL will fund and support Dutch companies operating in foreign markets.

Invest-NL aims to function as a one-stopshop for companies and entrepreneurs looking to finance their domestic and/or international projects.

The introduction of this new fund made me realise that you might require an update of all the (financial) instruments the Dutch

Dutch Trade and Investment Fund (DTIF): Developed for companies interested in investing or exporting abroad, the DTIF aims to help Dutch SMEs finance their business in Malaysia when commercial financing is not available. The fund consists of two components: DTIF Investment, managed by the RVO, and DTIF Export, managed by export insurer Atradius Dutch State Business. DTIF Investment can be used to fund projects abroad in the form of loans, guarantees and direct or indirect participation with a repayment obligation; whereas DTIF export can help out businesses that would like to export Dutch capital goods or (infrastructure) projects abroad. It is important to note that both DTIF components will eventually become integrated in aforementioned Invest-NL. Demonstration projects, feasibility studies and preparing of investments (DHI): Targeting developing countries and emerging markets, the DHI instrument creates an opportunity to conduct research and studies that you would otherwise not have started: to explore new markets, opportunities, build demonstration pilots, and improve your investments with help from the Dutch government. This subsidy from the Dutch government is currently open for applications from Malaysia.

Last year for instance, Dutch company VillagePump was awarded a DHI-grant to conduct a feasibility study on how to produce hand operated water pumps for rural areas locally in Malaysia.

Business partner scan (BPS): If you are searching for a reliable local partner, or you have one in mind, but you would like to know just how reliable they are, you can apply for a BPS. The economic department of the Embassy will then investigate your specific case and come up with a tailor made advise and hopefully one or more concrete, reliable and interested local business partners.

Partners in International Business (PIB): A consortium of Dutch companies that are active in the same sector or value chain, who want to broaden their market or expand their business, can apply for a PIB together. For Malaysia we have recently seen the launch of the PIB Palmares, focusing on palm oil residues.

Several MDBC members take part in this consortium, which receives financial, logistical and substantive assistance from the government of The Netherlands.

Tailor made information and individual queries: Companies that are looking for more specific information on the Malaysian market or that are looking to perform a benchmark study, can apply for assistance from the Dutch government.

If you have very specific questions about doing business in Malaysia, which cannot be answered immediately, we can help you engage other agencies that will be able to provide further advice and support.

Partners for Water (PvW): The program for companies from the Dutch water sector that wish to be active abroad. PvW aims to stimulate cooperation in the water sector, also in Malaysia. Currently the call for tenders is closed, but it is possible to discuss potential projects with one of the project advisers, in order to prepare for the next call. Additional info: www. partnersforwater.nl.

Of course, all of the mentioned instruments come with their own set of terms and conditions, so please use this list as a reference only. On the website of the ‘Rijksdienst voor Ondernemend Nederland’, RVO (www.rvo.nl, +31 (0)88 042 42 42), you can find more information on the different financial instruments and the plans for Invest-NL. And of course, the Embassy is also always willing to assist you with your questions.

Jurriaan Middelhoff Head of Economic and Trade Department Embassy of the Kingdom of the Netherlands E: KLL-EA@minbuza.nl

Starters in international business (SIB): For starters who are new to the Malaysian market, the Dutch government offers extra support in the form of missions, trade show visits, knowledge and individual coaching, to make sure that you are ready for doing business in Malaysia.

MDBCONNECTS 1ST ISSUE 2017

25

We provide all you need for an effective, efficient workplace wherever and however you want. With Regus, you

really can work your way.

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DIALOGUE

REGUS: GOING AGILE THE NEW WORKING METHOD

An ever increasing pace of change, a volatile market and growing competition with over 100 million businesses launching each year are surefire warning signs to fast growth companies.

If they are looking to maintain their productivity and upward trajectory, then traditional ways of working are no longer enough. They’re too slow, rigid and unresponsive.

That’s why successful fast growing companies are switching to an agile way of working. In fact, studies show that over 88% of North American and European businesses are using an agile methadology. But what actually is agile and what is it so useful?

In other words, it’s about making your processes adapt to the end product - not forcing your product to fit within the confines of pre - defined processes.

Rather than deciding on an objective and then feeding back on your project only when its complete, you continually assess successes and limitations as you go and react to them immediately.

What does this mean for businesses?

For fast growing firms, being agile’s a key advantage in keeping up with the pace of change.

But implementing it isn’t a case of declaring from above that agile methods should be used. Rather, it’s about reshaping your company culture to fit this new way of working. Here are a few ways it can be done: Driving change Making such a large cultural change means everyone, not just managers, needs to be on board. Managers and line - of business employees who have the qualities needed to implement an agile structure can act as models for the rest of the business.

Back to Basics You might imagine some kind of complex operational theory, but that’s far from the truth. Stripped back to the basics, being agile is about using self - organisation and collective intelligence to achieve greater flexibility and speed.

These individuals will have the analytical mindset to understand stakeholder needs and priorities, the creativity to solve unexpected problems on - the - go and the capacity to learn from their own experience.

Flexible working Moving to a feedback focused mindset means that you no longer have one long process with feedback only when you can show a completed project after months of work.

Rather, small and collaborative teams work in bursts of two weeks or so, with continuous feedback and testing. This means your team structures need to be adaptable - and flexible workspaces provide an easily scalable environment to quickly reshape teams on a regular basis.

In fact, Regus studies show that 74% of companies worldwide find a flexible environment fosters creativity.

MDBCONNECTS 1ST ISSUE 2017

27

EUMCCI

EU / EUMCCI in Conversation with... implications of the foreign exchange administration rules On 24 January, the EU Malaysia Chamber of Commerce and Industry (EUMCCI) and the Malaysian Dutch Business Council (MDBC) co-organized a dialogue session focusing on the Implications of the Foreign Exchange (Forex) Administration Rules.

(Ambassador, EU Delegation to Malaysia), James de Caluwe (Managing Director, Oleon Asia Pacific Sdn Bhd), Bo Pedersen (CFO, Cong Podan Rubber (M) Sdn Bhd), and Adnan Zaylani (Assistant Governor, Bank Negara).

This high level session, attended by EUMCCI members and representatives from organizing Chambers, provided a comprehensive perspective on Bank Negara’s (Malaysia’s Central Bank) new ruling on the Forex Administration Rules, The new rules require exporters to convert 75% of their proceeds into Malaysian Ringgit.

The session proved to be beneficial to participants as it provided a clear idea of the implications of the new forex admin rules and also provided an opportunity for prospective and existing multinational entrepreneurs to engage and clarify this ruling with the senior personnel of Bank Negara.

The session was facilitated by Her Excellency Mrs. Maria Castillo Fernandez

Also discussed were the measures to balance demand of forex in the FX market, supported with incentives and

Attendees at the high level discussion with Bank Negara representatives at Sasana Kijang.

flexibilities. The measures include exporters retaining up to 25% of export proceeds in foreign currency for payment of imports and loans; Conversion of Ringgit up to 6 months of import and loan obligations; and All payments among residents to be made in Ringgit.

Incentives under this measure include special deposit rates of 3.25% per annum converted export proceeds.

The implementation flexibilities include immediate reconversion based on the same conversion rate on the spot, or on a forward basis entered on the same day. In addition, payments by resident exporters to resident suppliers for contracts enteed prior to 5 December 2016 can be settled in foreign currency until 31 March 2017.

Further more, discussions were held on the policy on investment in foreign current assets, for which key principles include equal treatment for investment in foreign currency assets onshore and offshore; and equal treatment on resident exporter and non - exporters with domestic ringgit borrowing.

On payments made or received in foreign currency between residents, certain conditions have been set in place which inclues contracts entered prior to 5 December 2016; resident payer is an exporter, making payment using support earnings; or has obtained written approval from Bank Negara. Payments can be made from Trade FCA or Investment FCA.

28

MDBCONNECTS 1ST ISSUE 2017

EUMCCI

EU / EUMCCI in Conversation with... the secretary general of the malaysian ministry of finance On 1 March, EUMCCI together with MDBC organized the second ‘In Conversation With’ series event. In this edition, attendees were addressed by Tan Sri Dr. Mohd Irwan Serigar Abdullah (Secretary General, Ministry of Finance).

With the Malaysian government’s strong emphasis on attracting FDI into the country, the Secretary General shared, “I believe in engagement, and in receiving ideas from various parties. Often, we at the policy side overlook certain aspects and we welcome feedback. We believe that the people on the ground know better so sessions such as this are needed in garnering workable solutions,”.

Despite the global economic turmoil, Malaysia achieved 4.2% in growth against the country’s target of 4.5%. The session also featured a panel of speakers headed by Datuk Khadijah Abdullah (Under Secretary of Treasury), Tan Hooi Beng (International Tax Leader, Deloitte Malaysia), Tan Eng Yew (Country GST & Customs Leader, Deloitte Malaysia), and Ong Guan Eng (Executive Director, KPMG), to address the issue of the Witholding Tax policy.

On questions related to the definition of technical service fees, Datuk Khadijah said that the tax treaty has a definition of what comes under the technical fees.

“We are guided by this definition. As far as the domestic law is concerned, we do define in detail because, for example, in the case of e - commerce, we have to be quite detailed. When there is no comprehensive Double Tax Agreements, the domestic law applies.”

On losses suffered by companies in their home country during the course of doing business in the Malaysian environment in view of the Witholding Tax policy, Datuk Khadijah clarified that the Malaysian government is not inclined to forgo taxing rights because of losses incurred by the treaty partner.

She stressed that the government wants to incentivise the companies that have a business presence here, hence there are attractive tax exemptions for them.

She added that for those not covered under the treaty, renegotiations are encouraged. She explained, “For those jurisdictions where we do not have

treaties, we would like to establish them.

It has to be balanced in order to sustain further economic development.”

On the subject of GST, Ong Guan Eng of KPMG said, “Payments overseas are subject to GST reverse charges according to Malaysian law. The tricky part is that the amount upon which the reverse charge is incurred can be uncertain.

While Withholding Tax has got no cash implications on a company, if a company does not get it right, it may incur penalties.”

The Witholding Tax came into effect from January 2017. There are many who still do not comprehend its implications.

On what happens if a company is non - compliant and the implications or penalties, Datuk Khadijah clarified that the penalty applies according to the laws set.

When questioned about individual cases, especially those with SMEs (who do not have the same negotiation power as larger corporate entities), Datuk Khadijah clarified that when measures are taken to mitigate, studies have been undertaken to support these measures.

“We know we have to act faster and be agile to the needs of the industry.

We have been given a mandate by the Minister that if there is valid justification, we should look into it on a case - to case basis to solve the problem,” she assured. Datuk Khadijah also added that the government intends to take a comprehensive look at long term solutions as well.

“We promote SME businesses, thus the rates are lower for SMEs and the eligibility criteria is much more relaxed.

We want SMEs to have a stronger presence in Malaysia,” said Datuk Khadijah. She also advised, “Make sure that the cost you bear in Malaysia only pertains to your operations in Malaysia and do not take on unnecessary costs. As far as possible, we want to incentivise those operating from Malaysia. We are open for discussion - just write to us, e mail or call us to seek clarification.”

MDBCONNECTS 1ST ISSUE 2017

29

n 23 August 2015, in Kuala Lumpur, Malaysia.

EU

EU / ASEAN

FDI Stock n ASEAN

Share of ASEAN FDI Inflows per Top Eight Countries/Regions, 2015 3.8% Hong Kong 4.3% Australia

the ASEAN. ACIA promotes the region as an integrated area. The measure is expected to boost investor confidence in the region.

Share of EU FDI Stock in ASEAN Member States, 2014 Other % 2.2% Vietnam 2.0 ASEAN MS 3.6% Philippines

19.5%

Rest of the World

10.5%

4.7%

Thailand

Republic of Korea

18.4

%

6.8%

China

Malaysia

Indonesia

iland

Philippines

Vietnam**

14.5

%

Japan

Other ASEAN MS Text and information extracted from the EU available from year ASEAN **Data Trade and Investment 2017 Report.

2013 onwards

ASEAN and the EU, with their own dynamics, objectives and contexts, are probably the two most ambitious regional organizations in the world. This makes us natural partners with a lot to share and learn from each other’s experiences and approaches. Indeed, the EU wants to deepen our relations with ASEAN because it believes that ASEAN will play an important role in bringing to fruition a larger integrated market, enhancing its connectivity within the ASEAN Economic Community (AEC), and with the rest of the world, and contributing to prosperity and stability in Asia - the fastest growing region in the world. In view of this, the EU has emerged as a major development partner of ASEAN in a wide range of cooperation sectors including trade and economic related assistance.

Enhancing the EU - ASEAN Partnership

55.9%

11.8% Malaysia

Singapore

United States

gapore

IntraASEAN

Source: Eurostat

11.3%

006 2007 2008 2009 2010 2011 2012 2013 2014

Eurostat

ASEAN are manufacturing, financial and insurance activities, logistics, food and beverages, electricity production and the chemical and pharmaceutical industry. ASEAN hopes to encourage further investment by means of the ASEAN Comprehensive Investment Agreement (ACIA) that aims at creating a free and open investment regime in

16.7%

14.0%

Indonesia

European Union

Source: ASEANstats

The last decades have seen the two blocs enhancing their partnership and amplyfying the resources devoted to cooperation. For the period of 2014 - 2020, the EU has almost tripled the previous amount of funds for development cooperation projects implemented by the ASEAN Secretariat (€196 million) to support ASEAN’s post 2015 integration agenda. This support comes on top of the €2 billion the EU is devoting in bilateral assistance over the same period of time to poverty reduction and connectivity within, and between ASEAN countries.

The EU has also increased the frequency of exchanges of leaders from both regions to achieve a higher level of joint political dialogue on global challenges.

In October 2016, the two partners kicked off the first round of negotiations for a region - to - region Comprehensive Air

40 Years of Friendship & Partnership

Francisco Fontan, the first EU Ambassador to ASEAN, presenting his credentials to the Secretary - General of ASEAN, Le Luong Minh, on 17 September 2015.

Transport Agreement (CATA), which aims2017 EU-ASEAN TRADE AND INVESTMENT to create new business opportunities, improve market access, and ensure fair competition on two of the world’s largest and most vibrant aviation markets.

The EU recently established a new dedicated Mission to ASEAN, based in Jakarta, which will help intensify the Partnership Dialogue towards a more strategic nature.

Investment Relations Investment is a major contributor to economic growth in ASEAN Member States. Throughout the last decade, Singapore was the prime destination for FDI from the EU, accounting for €102.9 billion (55.9% of the total EU FDI stock in ASEAN), followed by Indonesia with €25.8 billion (14%)and Malaysia with €21.7 billion (11.8%).

ASEAN investment in Europe has also been growing steadily in a total stock of over €54.3 billion in 2014. This ranks ASEAN as the 9th largest source of FDI in the EU. Singapore stands out as ASEAN’s largest investor in terms of FDI stock in the EU, recording €43.8 billion in 2014, with Malaysia ranking as second with €11.5 billion.

The predominant sectors that have benefited from EU FDI inflows to ASEAN are manufacturing, financial and insurance activities, logistics, food and beverages, electricity production, and the chemical and pharmaceutical industry.

ASEAN hopes to encourage further investment by means of the ASEAN Comprehensive Investment Agreement (ACIA) that aims at creating a free and open investment regime in ASEAN.

Mr. Francisco Fontan, the first EU Ambassador to ASEAN, presenting his credentials to the Secretary-General of ASEAN, Mr. Le Luong Minh, on 17th September 2015.

30

MDBCONNECTS 1ST ISSUE 2017

The partnership between the EU and the ASEAN seems quite natural since

41

EU

EU / ASEAN 40 years of partnership

3.2

EU-ASEAN Projects Supporting the AEC

The ASEAN Regional Integration Support from the EU (ARISE) The ASEAN Regional Integration Support from the EU (ARISE) programme (EUR 15 million, 2013-2017) is a technical cooperation facility with which the EU provides support for ASEAN economic integration and development.

Technical assistance activities under ARISE are phasing out in June 2017, and will be consecutively taken over

by ARISE Plus. ARISE has three key deliverables for the private sector: ATR, ASSIST and ACTS.

The ASEAN Trade Repository (ATR) tool was launched in November 2015 to provide transparency on the trade and customs laws and procedures of all ten ASEAN Member States. The actual information is web-linked to the ATR from a network of National Trade Repositories (NTRs), which are the domestic portals maintained by each ASEAN Member State. When fully functional, the repository is expected to contribute to lower business costs, extend regulatory transparency and provide with greater certainty in business dealings. http://atr.asean.org

The EU-ASEAN Project on the Protection of Intellectual Property (IP) Rights (ECAP III) is a joint initiative with the aim of upgrading and harmonizing systems for IP creation, protection, administration and enforcement in the ASEAN region and aligning them with international IP standards and with the ASEAN IPR Action Plan 2011-2015. Based on the fundaments of its predecessors (ECAP I and ECAP II), ECAP III embraces four main components: 1) administration and enforcement; 2) legal and policy frameworks; 3) brand development; 4) regional integration and collaboration.

The ASEAN Solutions for Investments, Services and Trade (ASSIST) was launched in August 2016 aiming at effectively resolving operational problems encountered by ASEAN enterprises at cross borders. When fully operational, it will provide easy access to information on customs tariffs in ASEAN, as well as rules of origin, identified non-tariff measures; national trade and customs laws and rules; procedures and documentary requirements; and much other relevant trade information. It has been modelled on the EU’s SOLVIT system which concentrates on consumers and businesses. ASSIST should also contribute to the realisation of the ASEAN Consultations to Solve Trade and Investment Issues which is mandated under the ASEAN Trade in Goods Agreement (ATIGA). http://assist.asean.org

The EU-ASEAN Capacity Building Project for Monitoring Integration Progress and Statistics (COMPASS) (EUR 7.5 million, 2014-2018) strengthens the management and facilitates the harmonisation of trade and economic integration statistics in ASEAN.

The ASEAN Customs Transit System (ACTS) serves as a computerised Customs transit management system that facilitates the movement of goods by road for the private sector operating in the ASEAN region. It is based on the EU’s New Computerised Transit System (NCTS) model, and is, since its establishment in 2015 proceeding with the first testing stage in Malaysia, Singapore and Thailand, expected to go live in 2017. ACTS will be a catalyst for the implementation of ASEAN Framework on the Facilitation of Goods in Transit (AFAFGIT) and provide full end-to-end computerisation of transit operations with a single electronic customs transit declaration. This will allow free movement for trucks across borders with no trans-shipment for transit goods required at border points.

The EU’s ASEAN Air Transport Integration Project (AATIP) (EUR 5 million, 2012-2016) supports ASEAN in developing the ASEAN Single Aviation Market (ASAM).

The Enhanced ASEAN Regional Integration Support from the EU (ARISE Plus) ARISE Plus programme, expected to start activities in 2017, is a successor of ARISE, ECAP III, COMPASS and AATIP. Through ARISE Plus, the EU supports ASEAN in the areas of traderelated regulatory and policy frameworks, intellectual property rights, standards, customs and transport, civil aviation, as well as capacity building of ASEAN Secretariat. The programme has a regional level dimension (EUR 40 million, 2017-2022) and country-level trade-related assistance components to support the CLMV countries, the Philippines and Indonesia. ARISE Plus is fully aligned with the ASEAN Economic Community Blueprint 2025 and will serve as the framework for several EU-ASEAN projects based on European models, for example, on customs integration, standards harmonisation, and food safety.

30

EU-ASEAN TRADE AND INVESTMENT 2017

EU-ASEAN TRADE AND INVESTMENT 2017

EU’S AND ASEAN’S TOP TRADING PARTNERS (Share of Trade in Goods, 2015)

17.6

% US

14.8% CHINA

7.2

%

5.9% ASEAN

22.2% CHINA 13.1

EU

%

12.1

%

US

11.3% JAPAN

switzerland

31

EU - ASEAN Trade and Investment In the last four decades, EU - ASEAN trade and investment relations have grown impressively. In the last ten years, merchandise trade has almost doubled, and now exceeds €200 billion.

This positive trend is today reflected by the fact that the EU is ASEAN’s second largest trading partner, only behind China.

Similarly, ASEAN now ranks as the EU’s third largest trading partner outside Europe (after the US and China). Even more impressive, the EU is the top source of FDI in ASEAN, accounting for a quarter of the total FDI stock in the ASEAN. With key Free - Trade Agreements begin concluded in the region between the EU and ASEAN countries, this will further unlock the immense potential that exists.

For more information on EU - ASEAN trade and investment, please visit https:// eeas.europa.eu/sites/eeas/files/eu_asean_ trade_investment_2017.pdf

MDBCONNECTS 1ST ISSUE 2017

31

ASEAN Economic Community

THE ASEAN ECONOMIC COMMUNITY INVESTING IN ASEAN 2017

Since its formation, the Association of Southeast Asian Nations (ASEAN), has seen an underdeveloped region grow into one of the most dynamic drivers of today’s global economy. As it marks its fiftieth anniversary in 2017, the Association’s ten member countries are a significant focus of international investment as Southeast Asia’s success story continues following the formation of the ASEAN Economic Community (AEC).

The AEC that came into being at the end of 2015, provides a firm foundation for development in the region by providing the means for further integration of the member states’ economies over the next decade.

Expansion in intra-ASEAN trade has outpaced the growth of world trade in the past four years.

ASEAN’s combined GDP stood at US $2.43 trillion in 2015, and economic performance is poised to further improve within Southeast Asia, as the major economies of Indonesia and the Philippines, Vietnam and Thailand increase investments despite difficult international trading conditions.

Asia’s own economic outlook is projected to remain resilient, with an average GDP growth of 4.8% predicted in the region during 2017.

Prospects for economic growth and private investments are enhanced by a proliferation of trade and investment agreements with other parts of the world. While these will be implemented over several years,

they will help stimulate investment in the near term as businesses prepare for expanded trade opportunities.

ASEAN’s economic vision stretches beyond the AEC accord. In addition to establishing a single market in a multitude of areas and sectors, the intention is to proceed with the integration of its many different free trade agreements into one group.

The goal is to establish an umbrella trade deal known as the Regional Comprehensive Economic Partnership (RCEP) with Australia, China, India, Japan, South Korea and New Zealand. The RCEP aims to reach an accord which will eventually create an integrated market across the Asia - Pacific region of some 3.4 billion people.

Becoming the workshop of the world with incomes rising, ASEAN is a consumer market. Wealth creation is supporting private consumption as the region’s countries strive to achieve middle and higher income status in the years ahead. The region is firmly set to be at the crossroads of global business, as it invests int he digital age and builds vast new connectivity including modern ports, high speed railways, airports, and other transport infrastructure.

Much of the region’s investment in infrastructure is being carried out through PPP ventures, a trend that is likely to be enhanced over the next few years.

Infrastructure investment is gaining momentum throughout ASEAN. In Thailand,

a US $51 billion masterplan focuses on a range of projects including motorways, railways, mass transit rail systems, airports, and seaports. Malaysia is also committed to push forward with mass transit systems and a high speed railway linking it with Singapore. Huge projects to improve transportation in Indonesia will be a major boost to the country’s economy once carried out.

Improved connectivity will accelerate economic expansion. Southeast Asia already ranks as a global manufacturing hub but this role is also evolving. The region has traditionally had the advantage of a low cost labor market, which has helped draw FDI to Cambodia, Lao PDR, Myanmar and others in the region. However, ASEAN is fast establishing credentials as a base for high tech industries and value added manufacturing.

Southeast Asia’s industries increasingly feature high technology ventures including aerospace, automotive, pharmaceuticals and bio - scientific. In addition, more than half of ASEAN’s population of 630 million is under the age of 30. This youthful demographic profile is reflected in an appetite to embrace new technology and the new industrial revolution that is due to replace old business models and drive fresh approaches to virtually every economic activity. ASEAN faces challenges and these will require a cooperative effort to overcome them.

Financial Integration Continues A key element in the development of the AEC is the establishment of monetary and financial integration. Given the different stages of economic development among member states, the process is complex and will take time to achieve. The strategy is designed to facilitate much greater access to banking, capital markets and insurance.

It calls for the removal of restrictions to the intra-ASEAN provision of financial services by its financial institutions.

The plan calls for building capacity and infrastructure to develop and integrate capital markets, in order to liberalise the flow of capital across the region. Other elements include harmonising payments and settlements systems and mutual recog-

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ASEAN Economic Community

& FINANCIAL INTEGRATION ACROSS ASEAN

nition of the professional qualifications of those working in different member states’ financial systems.

Financial liberalisation involves the balancing of regulatory standards, market conduct practices, disclosure requirements and licensing conditions. This complicated process is ongoing and recognised as neces-

“A key element in the development of the AEC is the establishment of monetary and financial integration... to facilitate much greater access to banking, capital markets, and insurance.” sary in order to consolidate the economic progress achieved in the region.

In capital markets, observers consider that ASEAN has made sound progress on integration. Thailand, Malaysia, and Singapore have put into place concrete measures to expand market linkages and harmonise disclosure requirements through the introduction of ASEAN Disclosure Standards.

Investment procedures have been streamlined by these three countries with the ASEAN Trading Link. This link provides a single gateway to stock exchanges in all three countries, allowing shares to be purchased through a local stockbroker in all the markets. Issuers can also sell their shares in these markets without having to follow different procedures in each country. The launch of the ASEAN Collective Investment Scheme also allows authorised fund managers to conduct a cross border

offering of funds.

ASEAN members have also agreed to liberalise the cross border supply of marine and aviation insurance, in addition to goods in international transit insurance. The move will allow companies to offer cover across ASEAN member states helping to reduce costs and encouraging intra-regional trade.

Singapore and Malaysia have the most developed financial markets in the region and are expected to lead the integration of ASEAN’s banking market. As yet, there are only seven ASEAN banks with region wide operations. Bangkok Bank, Maybank, and United Overaseas Bank each have branches in up to eight other ASEAN countries.

ASEAN Banking Integration Framework Central Bank Governors agreed to an ASEAN Banking Integration Framework (ABIF). The ABIF is aimed at ensuring a more stable flow of funds and increasing cross border trade and investment. Under the framework agreement, ASEAN banks can sign reciprocal bilateral deals to operate in a partner country on the same terms as domestic financial institutions.

The key aim of the ABIF is to allow banks to establish operations in other member countries to support regionally based companies wanting to expand their business operations into other ASEAN countries. It provides a platform for qualified banks in the region to enjoy greater market access and operational flexibility.

The initial objective of the ABIF is to achieve a more integrated banking market, spearheaded by Qualified ASEAN Banks (QABs), which have the potential for a meaningful presence across ASEAN countries. Any two countries may enter into reciprocal bilateral agreemetns to provide QABs with greater market access and operational flexibilities consistent with those of domestic banks in their respective host countries.

Acknowledging the different levels of readiness among members, the ABIF process specifies two stages: a multilateral stage and a bilateral one. The multilateral stage will establish ASEAN wide guidelines,

while the bilateral stage will involve negotiations between countries on the admission of QABs. The Framework will be implemented at two speeds: first among the five larger ASEAN economies, and later including the others as their own financial markets mature and they develop regulatory structures.

This will allow five members - Indonesia, Malaysia, the Philippines, Singapore, and Thailand - to be the first to implement the Framework by 2020, to be followed by the other member states - Brunei, Cambodia, Lao PDR, Myanmar, and Vietnam - subsequently.

The larger economies are already moving forward in negotiating bilateral agreements. Bank Indonesia, for example, and the Financial Services Authority of Indonesia and the Central Bank of Malaysia, have signed an agreement outlining the measures the two countries will implement under the ABIF. The agreement also sets out the definition of QABs and identifies the market access and operational flexibilities that they can have.

The implementation of ABIF is also designed and expected to lead to stronger regulatory and supervisory arrangements, leading to more effective surveillance and supervision of QABs. Bilateral negotiations between various member states are expected to become catalysts for enhancing bank supervision and regulation in individual jurisdictions, in anticipation of an increasingly integrated banking system.

As banking integration takes shape, this will provide a substantial contribution to both economic growth and financial inclusion. An integrated banking sector means greater competition and improved quality of services, which in turn will spur more trade adn investment. In addition, SMEs and those without any form of banking will be provided with better access to financial services as the lending capacity of banks improve.

Text has been extracted from “Investing in ASEAN 2017” by the Association of Southeast Asian Nations. Additional information can be found on asean.org.

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We take your logistics personally Creating competitive benefits for your business with tailor-made services and integrated IT solutions.

we take it personally | transport + iLogistics | www.cargo-partner.com

MY SERVICES - BUSINESS SERVICES Not all MDBC member-companies are involved in bilateral trade or investments; a very important part of the MDBC community is our service providers. They provide the services (or products) which all organisations, and often especially the potential Dutch investors in Malaysia, require. The ease of doing business within the MDBC community has substantially increased thanks to our service providers. This page is specially dedicated to them.

Research & Consultancy AQ MALAYSIA

Mergers & Acquisitions Cayla Consulting Group

Consultancy DELAWARE CONSULTING

Lower Penthouse Wisma HangSam No 1 Jalan Hang Lekir 50000 Kuala Lumpur

Level 9, Menara RKT No 36 Jalan Raja Abdullah Off Jalan Sultan Ismail 50300 Kuala Lumpur

19A, Jalan SS 25/23 Taman Plaza Kelana Jaya Petaling Jaya Selangor Darul Ehsan

Tel: +603 - 2072 1133 Fax: +603 - 2072 3139 smulders@aq-services.com www.aq-services.com

Tel: +603 - 2612 6849 Fax: +603 - 2612 6888 kc.loh@caylagroup.com www.caylagroup.com

Tel: +6011 - 2361 9363 roan.schuurman@delawareconsulting.com delawareconsulting.com

AQ Services International is a first class research and consultancy firm with a strong focus on the frontline. We offer mystery shopping & audit programs designed to deliver actionable insights, and coaching & training that drive frontline performance and sales. AQ’s principal objective is to be a partner for companies that consider great customer experiences to be of major importance in their service improvement efforts.

Administrative Back Office SUPAHANDS DOTCOM 7 - 07, 7th Floor, Tower A The Vertical, 8 Jalan Kerinchi Bangsar South 59200 Kuala Lumpur Tel: +603 - 2713 6946 hello@supahands.com www.supahands.com Supahands is a business built with the purpose of changing the nature of time using people and technology. The vision is for SupaAgents to power global businesses through our outsourcing services.

Our platform was created to help businesses scale and save by outsourcing administrative back office and customer care work so they can focus on their core operations and goals.

Cayla Consulting Group (Asia) is the Asian representative of Cayla Consulting Group from Europe offering Cayla Group’s business services to European and Asian clients. We offer consultancy services with a focus on mergers and acquisitions, restructuring and business development within the trade & industry, automotive, subcontracting,transport & logistics, and wholesale & retail sectors offering hands on support.

Delaware Consulting is a fast growing, global consultancy firm providing advanced solutions and services to organizations striving for a sustainable, competitive advantage.

As a prime partner for SAP and Microsoft, Delaware Consulting centers its activities around three main pillars: operational excellence, business insights, and customer experience.

Property & Investment IQI HOLDINGS 19 - 01 Wisma MCA 163 Jalan Ampang 50450 Kuala Lumpur Tel: +603 - 2181 2820 Fax: +603 - 2161 0580 info@iqi-group.com www.iqiglobal.com IQI is an international property and investment company with headquarters in Kuala Lumpur and offices in KL, Penang, Dubai, and Singapore. We work in many diverse sectors including investments, venture capital investments, property sales, rentals, marketing, project evaluations and international sales.

We create a market place for buying and selling real estate and property investments.

NEED A RELIABLE PARTNER FOR KEY BUSINESS SERVICES? THESE MDBC MEMBERS ARE JUST A PHONE CALL AWAY! MDBCONNECTS 1ST ISSUE 2017

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NEW MEMBERS

WARM WELCOME

As always, we constantly expand to include new and interesting partners as part of our international community of business professionals, allowing our members to find more opportunities for success.

To that end, we would like to extend a very warm welcome to the MDBC Community for the following new members:

FUGRO GEODETIC (MALAYSIA) SDN BHD

MALAYSIA DIGITAL ECONOMY CORPORATION

RHENUS LOGISTICS SDN BHD

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MDBCONNECTS 1ST ISSUE 2017

Business Activity: Fugro is the world’s leading, independent provider of geo - intelligence and asset integrity solutions for large constructions, infrastructure and natural resources.

We collect data on topography, soil composition, and environmental conditions, both onshore and offshore.

We organise the acquired data and add value through processing, interpretation, and visualization. In addition, we provide geo - related design, asset inspection and integrity advice. Our services play a critical role in the entire lifecycle of our clients’ construction and infrastructure projects.

Corporate Representation Umar A. Rahman, Director / General Manager Abd Hanan Ahmad Nadzeri, Deputy General Manager

Business Activity: Malaysia Digital Economy Corporation Sdn. Bhd., or MDEC (formerly known as Multimedia Development Corporation Sdn. Bhd.) is an agency under the Ministry of Communications and Multimedia Malaysia. Entrusted to develop, coordinate, and promote Malaysia’s digital economy, information and communications technology (ICT) industry, and the adoption of digital technology among Malaysians. They strategically advise the Government on legislation, policies, and standards for ICT and multimedia operations.

Corporate Representation Hew Wee Choong, Vice President, Global Business Service Mohd Imtiaz Hussain, Head of International Business Dev.

Business Activity: Rhenus Group is a global logistics service company with a turnover of €4.6 billion.

Rhenus has more than 500 locations worldwide. The Rhenus business areas Contract Logistics, Freight Logistics, Port Logistics, and Public Transport - manage complex supply chains and create wealth by means of innovative value - added services. We see ourselves as partners to provide our customers with value added services. We analyze highly complex logistics operations and optimise them using individual solutions that cover sourcing, production, and distribution.

Corporate Representation Chadwick Siebel, Commercial Manager Stein Germundsson, Managing Director

CONTACT: 11th Floor Wisma Genting 28 Jalan Sultan Ismail 50250 Kuala Lumpur Tel: +603 - 2166 2433 Fax: +603 - 2166 2466 Email: admin.fgmsb@fugro.com Website: www.fugro.com

CONTACT: 2360 Persiaran APEC 63000 Cyberjaya Selangor Darul Ehsan Tel: +1 - 800 - 88 8338 Fax: +603 - 8318 8551 Email: clic@mdec.com.my Website: www.mdec.com.my

CONTACT: Level 25, Suite 11, Centro No 8 Jalan Batu Tiga Lama 41300 Klang Selangor Darul Ehsan Tel: +603 - 3343 8886 Fax: +603 - 3344 6676 Email: info@my.rhenus.com Website: www.rhenus.com

NEW MEMBERS

SOLS 24/7

SUPAHANDS DOTCOM SDN BHD

Business Activity: SOLS 24/7 is an award winning humanitarian organisation, committed to serve, educate, and empower poor and under served communities in Malaysia. By providing education and social empowerment programs, we work towards transforming communities to develop their true potential and break the cycle of poverty. Our revolutionary and custom designed models have won awards nationally and internationally.

We also operate social enterprises to gain sustainability for our not - for - profit activities committed to making real change and development in the world.

Corporate Representation Tim Spijker, Chief Operating Officer Wah Hoo Chun, Director

Business Activity: Supahands is a business built with the purpose of changing the nature of time using people and technology.

Corporate Representation Greg Meehan, Business Development Manager Diane Docherty, Office Manager

Our platform was created to help businesses scale and save by outsourcing administrative back office and customer car work, so that they can focus on their core operations and goals. We bring together a team of in - house project managers combined with skilled and educated SupaAgents to cater to entrepreneurs, startups, SMEs and enterprises to help clients save time and resources to help their business grow.

Business Activity: TPA advises airlines on how to set up their daily operational maintenance more efficiently with safety as the first priority.

This is done by analyzing the airline’s current line maintenance structure, procedures and planning, suggesting practical improvements.

TPA

Not just generating a fancy report and powerpoint presentation, but assisting in the implementation of changes.

CONTACT: 1 - 9 Jalan 1 C / 149 Off Jalan Sungai Besi Sungai Besi 57100 Kuala Lumpur Tel: +603 - 9054 9247 Fax: +603 - 9054 7842 Email: malaysia@sols247.org Website: www.sols247.org

CONTACT: 7-07, 7th Floor, Tower A The Vertical 8 Jalan Kerinchi, Bangsar South 59200 Kuala Lumpur Tel: +603 - 2713 6946 Email: hello@supahands.com Website: www.supahands.com

Corporate Representation Jan van Laar, Director / Advisor CONTACT: 2224 / 8 Jalan Seremban Batu 2, Taman Tanjung 71000 Port Dickson Negeri Sembilan Tel: +6011 - 1218 2114 Email: jan@thepracticalapproach.biz

THE PRACTICAL APPROACH

VOLKSWAGEN PASSENGER CARS MALAYSIA SDN BHD

Business Activity: Volkswagen Passenger Cars Malaysia (VPCM) is the official distributor of Volkswagen cars in Malaysia. With long term business aspirations in the region, VPCM’s primary focus is on sales strategies through future products, strengthening the Volkswagen dealer network, service, and parts availability.

Corporate Representation Erik Winter, Managing Director

Serving the needs of Malaysians, the Volkswagen lineup in Malaysia includes the iconic Golf, Beetle, Polo, Vento, Jetta, and the stylish executive sedan, the Passat.

Tel: +603 - 2295 9999 Fax: +603 - 2295 9957 Website: www.volkswagen.com.my

CONTACT: Level 3, Wisma Volkswagen No 7, Lorong Maarof Bangsar 59100 Kuala Lumpur

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PICTURE PERFECT

The Outlook 2017 event, which was organised at MIDA, brought together a wide variety of speakers with members and guests who were looking for insights into expectations for the year.

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New Year!

What an excellent start to the 2017 year it was! The MDBC New Year’s Reception never fails to attract an excellent crowd. More than 150 members and invited guests from the government, diplomatic and corporate communities joined the celebrations at the residence of the Netherlands Ambassador. Pictures provided by Image Photography.

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