KDN PP 14083/07/2011(029992)

Malaysia’s New Growth Industry?

Healthcare

ReviewVolume VII No. 2 April 2011

EU

MC

CI

The Business Digest of the European Union-Malaysia Chamber of Commerce and Industry

April sees a successful launch of the

EUMCCI Trade Issues and Recommendations 2011

Healthcare is one of the government’s NKEAs and as such aims to become a major

engine of growth within Malaysia. As a generator of investments via the establishment of

private hospitals and healthcare facilities and the key contribution of the European

pharmaceutical companies to the Malaysian economy, Review this issue takes a look at

the development and growth of this burgeoning industry.

The concerns of the European healthcare industry as well as those of other industry

sectors are also being considered within the Free Trade Agreement that is currently

being negotiated between the EU and Malaysia. H.E. Commissioner Karel De Gucht

visited Malaysia with a delegation in March to give a talk regarding the negotiations and

to hold the second round of talks.

April saw the successful launch of the EUMCCI Trade Issues and Recommendations

2011. The launch event, the Trade & Investment Forum was well attended and guest

speakers EU Ambassador HE Vincent Piket, the President of the Federation of Malaysian

Manufacturers, Tan Sri Datuk Mustafa Mansur, Dato’ Vasudevan from MITI and

TalentCorp CEO, Johan Mahmood Merican provided a lively debate in the form of a

panel discussion.

The EUMCCI Trade Issues and Recommendations 2011 itself, is result of the hard work

of the 13 EUMCCI sectoral Committees and our Chamber team. It provides and insight

into the challenges and issues faced by EU companies in Malaysia and the Chamber’s

recommendations on how to combat this issues. As a Chamber we are pleased to note

that many of the issues addressed in previous editions of the Trade Issues and

Recommendations have been recognised and subsequently addressed in the

government’s recent ETP and GTP.

Minna Saneri

General Manager

EUMCCI Review 3

Editorial

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Contents

6

28

22 24

26

3 EDITORIAL

6 EUMCCI ACTIVITIES

14 EU NEWS

18 FEATUREHeart surgeon Dato’ Dr. Ghandhiraj Somasundram on healthcare in Malaysia

Healthcare as a NKEA

Medical Tourism in Malaysia

Visit by Swedish Health Minister

Published byEU-Malaysia Chamber of Commerce & Industry (EUMCCI)

Office AddressSuite 3.03, Menara Atlan (Naluri)161B Jalan Ampang50450 Kuala Lumpur, MalaysiaTel: +603-2162 6298Fax: +603-2162 6198E-mail: eumcci@eumcci.comWebsite:www.eumcci.com

EUMCCI BoardChairmanDavid Jones

Honourary TreasurerDato’ Robert Teo

Austria: Franz SchröderCzech Republic: Jan VejmelkaDenmark: Kim HansenFrance: David AttarFinland: Jari NiemiGermany: Alexander StedtfeldGreece: Stellios PlainiotisIreland: Ron AndersonItaly: Alberto CiaramicoliMalaysia: Caesar LoongThe Netherlands: Marco WinterPoland: Czeslaw KlimczakSpain: Luis LopezSweden: Hans BjorneredUnited Kingdom: Jon Addis

Editorial CommitteeMinna Saneri – EditorKaren van DalsemRebecca SimmondsStefanie Braukmann – SPRGLucien De Prycker – Belga-Zone

Contributing EditorsJoukie de BeerBenedikt MuenchNelly Stratieva

SubmissionsArticles and other materials of interest to the general membership are actively solicited and may be sent to the Chamber. All materials submitted for publication are subject to editorial review and revisions.

ReproductionNo part of the EUMCCI Review may be reproduced or transmitted in any form or by any means, electronic or mechanical without prior written permission.

Circulation3,000 copies of the EUMCCI Review are distributed, on a quarterly basis to EUMCCI members, all Embassies, industry associations and government officials with whom the Chamber has dealings as well as to European Chambers Worldwide.

Subscription ServiceSubscriptions from non-members are also accepted at RM80.00 (€28.00 abroad) for 4 issues. Individual copies may be purchased at RM25.00 (€8.00 abroad).

Designed byUR Graphic Sdn Bhd

Printed byAnekaprint & Packaging Sdn BhdNo. 6 & 8, Jalan Asa 8, Taman Asa Jaya43000 Kajang, Selangor

25 EVENTSEU Trade Commissioner Visits KL for Second Round of FTA Negotiations

VIP Luncheon with YAB Tuan Lim Guan Eng, Chief Minister of Penang

Breakfast dialogue with Yg Bhg Tan Sri Zarinah Anwar, Chairman of the Securities Commission Malaysia

EU-Malaysia Trade and Investment Forum

30 MEMBERS’ CORNER

36 MALAYSIA NEWS

37 NEW MEMBERS

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On the cover:Dato’ Dr. Ghandiraj Somasundram, Consultant Thoracic & Cardiovascular Surgeon and Clinical Director, Centre of Excellence – Heart & Lung, Prince Court Medical Centre, page 18. Photo by Lucien De Pryker

RectificationThe editors of Review Magazine regret that in the article ‘From recruitment to retainment’ in the January issue, Siew Lin Koh, Towers Watson was quoted. This should have been Mr Lim Chin Han, Director of Talents and Reward, Towers Watson.

High Tea and Dialogue with Mr. Toh Swee Hoe, Malaysian Communica tions &

Multimedia Commission

EUMCCI Committee Heads met with Rupert Schleglmilch, Chief Negotiator for EU to discuss the ongoing Free Trade Agreement negotiations between the European Union and Malaysia.

In Kuala Lumpur with a team of EU experts, Mr. Schleglmilch requested the meeting in order to get first hand views, input and comments from EU and Malaysian business and industry leaders on how to drive the FTA process towards a speedy and successful conclusion for all parties.

Accompanied by Mr. Sandro Paolicchi, the Trade Counselor at the EU Delegation, Mr. Schleglmilch met the Committee Heads at the EUMCCI office on the first day of the second round of the FTA negotiations.

EU Chief Negotiator meets EUMCCI Committee Heads

On 22nd February 2011, the EUMCCI organized a High Tea and Dialogue session with Mr. Toh Swee Hoe, the Special Functions Officer of the Malaysian Commu-nications and Multimedia Commission (MCMC). In this capacity, Mr. Toh advises and carries out special functions in support of the Chairman of the Commission. Mr. Steven Tai representing EUMCCI ICT Committee facilitated the dialogue.

Mr. Toh shared MCMC’s vision on the opportunities for the ICT industry. He started by presenting the ten Entry Point Projects (EPPs) which will catalyze the shift beyond infrastructure and enable critical sectors. These EPPs are mostly private-sector driven and are divided into areas, ‘Serving Tomorrow’, ‘Pushing Boundaries’ and ‘Enhancing Foundation’.

Some current projects of MCMC are to create an ecosystem that is conducive for the fast adoption of new services, increase quality of education through technology and a shared hosting infrastructure. MCMC is also working on expanding broadband coverage through heavy private and public-private collaboration in Suburban, Rural and Remote, with focus on Suburban. The shared hosting infrastructure will improve access to creative content and spur growth. By catalysing the local content and hosting

locally there will be new channels unlocked like online video & Multimedia, Digital Billboards and Mobile video.

MCMC is also eager to increase quality of healthcare through technology and to increase accessibility of government ser-vices. The government is going green by moving to a paperless environment. All Malaysian citizens will get a 1 Malaysian Account with a unique official email account and ID to login to all government services.

Mr. Toh mentioned the move from analogue to digital terrestrial television. By the end of 2012 there should be 50% coverage by digital service. There has also been a

proposal for a cable which will connect Malaysia to Hong Kong and the USA with 7 Tbps of design capacity. The length of this cable will be 20.000 km and will cost about 6.000.000 USD.

Organizations are invited to propose projects by approaching the MCMC office to see if the idea fits within an EPP.

There are many opportunities in Broadband ICT for the EU and Malaysia to work together to build and grow the economy.

For more informationvisit www.skmm.gov.my

Mr Toh Swee Hoe with Mr Steven Tai

Rupert Schleglmilch, EU Chief Negotiator

EUMCCI Review6

Chamber Activities

Thai-European Business Association

FTA Task Force Meeting

During the first meeting of the EUMCCI FTA Task Force the status quo of the FTA negotiations was discussed. Also clarified were the expectations for information exchange between the EU Delegation and the European business representation, in order to facilitate an optimal bargaining position in the anticipated negotiation rounds.

Mr. Alessandro Paolicchi (Head of Section for Trade and Economic Relations at the EU Delegation to Malaysia) highlighted the ambitions of the EU regarding the FTA, following the first round of negotiations in December 2010 in Brussels:• There is a window of opportunity to

eliminate a wide array of the existing limitations to conducting business in Malaysia

• Fortradeingoods-theaimistoremovenearly 100% of all tariffs on goods

• The non-tariff-barriers (NTBs) such asstan dards, licensing issues, quotas should be brought up by the industry

• The tentative timetable for thenegotiation rounds in 2011 - meetings in March, May, July, October, December

The repre sentatives of European business operators in Malaysia are invited to provide:• A list of grievances - as many and as

detailed cases as possible• Examplesofde facto discrimination are

crucial to avoid a watered-down, tem-plate FTA

• It was confirmed that communicationbetween the companies and the EU Delegation could be conducted in an informal, confidential form.

Companies can send their issues for compilation to EUMCCI minna.saneri@eumcci.com or directly to Alessandro.paolicchi@eeas.europa.eu

The Thai-European Business Association (TEBA) is a newly established, membership-based organization, registered to the Ministry of Commerce of the Kingdom of Thailand under the Trade Association Act. Like EUMCCI, TEBA is an independent, self-financed entity, set-up and managed by the European business community and local companies interested in the vast EU market. The Association is part of the worldwide European Business Organiza-tions (EBO, www.ebonetwork.eu) Network.

Currently, the management board consists of both Thai and European corporate members and the advisory board officially

assigned by the Joint Standing Committee, with representatives from Thai Chamber of Commerce, Federation of Thai Industries and Thai Bankers’ Association. TEBA is supporting them fully on Thai-EU business relations. This can be seen as the Thai operating arm for the EU ASEAN Business Center whenever it will be created.

TEBA now has three main functions.1. Industrial Cooperation. 2. Advocacy and FTA3. EU funded Project

For more informationplease visit: www.thaieuro.biz

Introducing our new Healthcare Committee

EUMCCI is happy to introduce a new Committee; the Healthcare Committee. This 13th sectoral Committee aims to be at the centre of debate in order to identify and prioritize key issues in the Healthcare in-dustry, including issues relevant to the EU-Malaysia FTA nego tiations. The Com mittee acts as a forum to discuss and faci litate business; pro pose an environment to im-prove business conditions as well as acting as a conduit, raising issues and creating a clear and transparent relation ship with the Malaysian government. The Committee also func tions as a lobbying tool for Euro-pean comp anies to improve inter relations and communication with the stakeholders and other related government agencies.

The Committee has identified the following critical issues that the pharmaceutical

industry would like to see addressed under the EU-Malaysia FTA in order to help strengthen Malaysia’s health system, benefit patients and promote our industry’s competitiveness. These issues are focusing on:1. Intellectual Property Protection and

Enforcement2. The Trade & Investment Environment3. Regulatory Requirements for New

Innovative Medicines4. Customs and Tariffs 5. FTA scope and enforcement

For further information, please contact our Committee co-coordinator, Ms. Ai Li Ch’ng Koch, ailikoch@eumcci.com

EUMCCI Review 7

Chamber Activities

Transforming the Economy with Green Technology

Towards Sustainable Growth

Following the successful installation of the International Greentech & Eco Products Exhibition & Conference Malaysia (IGEM) as the region’s largest green exhibition and conference in 2010, IGEM 2011 is set to continue as a hotbed hosting a vibrant mix of oppor tunities to help spur industries and institutions to adopt green technology and boost eco-technological innovators in the field of eco-design, eco-materials, eco-products and low carbon Green Techno-logies.

Organized by the Ministry of Energy, Green Technology and Water of Malaysia and the Malaysian Green Technology Corporation (GreenTech Malaysia), IGEM acts as a prime mover for the Government’s initiatives. the focus of IGEM 2011 will be moving towards commercialization of Green Technology with the potential to easily diffuse into the market and become universally adopted. The exhibition will

feature 8 thematic communities comprising of Building, Eco-Products and Services, Green Financing, ICT, Manufacturing, Transportation, Water & Waste Manage-ment and special focuses on sustainable energy, renewable energy and green energy for adoption and start-ups, while providing an essential platform to launch, feature and showcase innovative eco-products, green technologies and services.

Also running concurrently for the second year, the high powered International Green Technology and Purchasing Conference 2011 is strategically positioned to for a con-vergence of like-minded industry players and professionals from various sectors, , to explore the opportunities from the emerging green market within Malaysia and the region.

IGEM 2011 is a four-day event, held from 7 – 10 September 2011 at the Kuala Lumpur

Convention Centre, Kuala Lumpur. More than 500 companies and over 80,000 visitors from all over the world are expected.

Register your participation now.Log on to www.igem.com.my for more information.

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7th - 10th September 2011, KLCC

The EU – Malaysia Chamber of Commerce and Industry (EUMCCI), together with the European Bilateral Chambers of Commerce and Business Councils will once again collaborate to organize the ever popular Tastes of Europe Fest (formerly known as the European Wine, Beer & Cheese Fest).

This year’s rebranding of the Fest reflects the growth of this annual event, now in its 9th edition, beyond a focus on wine, beer and cheese. The name change to a more inclusive “Tastes of Europe” means that the

event now encompasses more aspects of European dining culture and gastronomy. This includes the continuation of two work-shops which were introduced last year.

The Coffee Appreciation workshop led by Illy is held at their Universita del Caffe della Melesia and Illy instructors are on hand to take attendees from being coffee enthu-siasts to coffee connoisseurs by providing an education on coffee theory, cultivation, transformation and production. The work-shop is an introductory version of the full

course that is offered by the Illy School of Coffee. The Wine & Cheese Appreciation workshop is led by Spanish Pas sion and has wine ex-perts introducing atten dees to a wide variety of wines, instructing them on the finer points of viticulture and vinicul ture.

The main event itself continues to grow and attract large crowds (namely from diplomatic, European and local corporate guests) with over

Tastes of Europe Fest (Formerly known as the European Wine, Beer & Cheese Fest) 27th May 2011, Intercontinental KL

530 attendees at the 2010 event which featured 27 different exhibitors showcasing a wide variety of wine, beer, cheese, gourmet foods and other products from Europe.

The Fest will continue to provide importers of European products related to the Food & Beverage industry an opportunity to show-case their products and initiate, or improve their contacts with European and local guests. Of equal important is their ability to meet F&B Directors and Managers of Kuala Lumpur area hotels and restaurants.

This Fest is an excellent opportunity to network and get acquainted with products of fine delicacies that bring forth the richness in cuisine and culture that could only be European.

For more information visit www.eumcci.comTo book your tickets email:events@eumcci.com

EUMCCI Review8

Chamber Activities

Mr. Krishnakumar Guda is

the Head of the EUMCCI ICT

Committee and President

and Country Head of

Eriksson (M) Sdn Bhd. The

ICT Committee offers a

platform for members to

network to discuss and raise

issues in the ICT sector. The

Committee organises talk

sessions with guest speakers

from the government to

discuss developments in the

sector and new regulations.

The head of the EUMCCI ICT Committee on...

Advances in connectivity

As part of the National Broadband Initiative (NBI) in 2007, Malaysia set itself a target of reaching a 50% household penetration rate for broadband by the end of 2010. At the beginning of 2011, looking back to 2010 it’s pleasing to be able to report that thanks to the technology of mobile broadband, that target of 50% was one that was easily reached.

Broadband (whether mobile or not) appears to be key in the process of moving the country forward to meet the targets set in the Vision 2020 plan and the head of the EUMMCI ICT Committee, Krishnakumar Guda believes that we are at the moment in

the explosion phase of the ICT revolution. Technology is developing, being used and distributed at a rate that is growing expo-nentially – worldwide 100.9 million smart-phones were sold in the last quarter of 2010 alone and connectivity is the watch word.

The ICT industry is one that now has such an impact on areas such as GDP within the region, not just the country, that the Malaysian government has recognized its importance with the inclusion of a list of ICT initiatives with the Economic Transformation Plan (ETP) proving how the ICT industry can help to drive sustainability across the board.

The ability to access information easily and wirelessly is opening up new opportunities in rural areas for the rapidly growing medical

and environmental industries - opportunities that previously would have been dismissed due to a lack of access. It is this combi-nation of connectivity and access that seems to be the key enabler for business and industry in the modern economy and cloud computing – one of the most recent developments is, as Mr. Guda highlights, “enabling new business models; allowing business users to share resources and providing dedicated access.”

Cloud computing is one of the ICT deve-lopments like smartphones and broadband that seems to be here to stay, but the goal that networks are striving for now seems

not to be speed as has been the case for the last 5 years, but capability. ‘The ease of capability to access the data, this is being continuously updated and the networks are getting there eventually…eventually any-thing that can be connected in some way will be and we’ll be talking about 50 billion connections rather than 5 billion. This connectivity will be what drives the capa-bility to deliver new services.’

“This is one of the most exciting times for the region in terms of ICT and we will see an even bigger use of the ICT industry in the next 20 years - that’s when we’ll see the real benefit. The application of the con-nectivity in the form of services that are accessible to anyone from anywhere.”

“This is one of the most exciting times for the region in terms of ICT and we will see an even bigger use of the ICT industry in the next 20 years.”

EUMCCI Review10

Committees

Wong Jin Nee is Head of the

EUMCCI IPR Committee and

founding partner of Wong Jin

Nee & Teo, Advocates and

Solicitors. The IPR

Committee is hoping to

organise a regional IPR

capacity building and

exchange of best practices

workshop, with the aim of

raising awareness of the

importance of intelligence

exchange, coordinated

enforcement efforts and

product identification

training.

The head of the EUMCCI Intellectual Property Rights Committee on...

The cross sectoral impact of IPR

The Malaysian government has recently made a more concerted effort to advise business owners of the benefits of regis-tering not just their company, but also their intellectual property rights (IPR). The reve-nue generated by intellectual property (IP) generally and branding in particular has become big business, in healthcare as well as in Malaysia’s other rapidly growing industries.

IP can be difficult to promote, as often it’s no more than an idea to people who are more comfortable counting tangible assets. Wong Jin Nee, provides an insight, “Gene-rally companies have an inventory of their physical assets - the chairs, the LCD pro-jector, the printer - but if you were to ask them what IPR they owned, they would be thinking for a while and it would likely be a much shorter list. They don’t have an inventory list of these intangible assets, which are usually more valuable than their physical assets.”

Wong Jin Nee explains, “Traditionally companies tend to use their IPR in a defensive manner to prevent violations or in defending against attacks. Companies these days are increasingly using their IPR to improve their competitive edge, generate revenue and improve their access to financing.” Many organizations including the Malaysian Intellectual Property Office, MyIPO have been taking steps to create awareness on the importance of IPR, highlighting the risks of ignoring the subject and the benefits that can be derived from protecting IPR. It seems that adopting a holistic IP strategy is the way forward for many businesses.

As healthcare companies worldwide have determined, IPR can be used in a variety of ways – not solely to protect investment in

terms of R&D and future earnings, but also in terms of building brand loyalty.

Having adequate and effective IP protection and enforcement remains a critical issue for many companies in Malaysia, IPR being regarded as an essential and valuable business tool. IPR is a cross sectional topic and the aim of the EUMCCI IPR Committee is for the various EUMCCI Committees to work together to identify key IPR issues so that the IPR Committee could engage the relevant stakeholders and key players effectively.

In this vein, Malaysia’s safeguards against IPR theft are a part of the ongoing Free Trade Agreement negotiations with the EU. As Wong Jin Nee highlights, “having an effective IP protection and enforcement system in Malaysia will not only encourage foreign direct investment and technology transfer, it will help spur economic growth as well as create new innovations for the local companies.”

The International Property Rights Index 2011 Report, an annual comparative study that quantifies the strength of physical and intellectual property rights, ranked Malaysia number 44, on par with Jordan, Tunisia and Uruguay; lower than 2010’s ranking of 41, even though the scoring of 6.1 - a score based on 11 factors reflecting the state of its legal and political environment, physical property rights and intellectual property rights - remained unchanged. Whilst Malay-sia’s score was unchanged, the scores of other ASEAN countries improved (Singa-pore was up by 0.1 to 8.3 and at the other end of the scale Brunei improved by 1.4). This is something that Malaysia should work on if plans such as the FTA and the new Economic Model are to come to fruition.

“Having an effective IP protection and enforcement system in Malaysia will not only encourage foreign direct investment and technology transfer, it will help spur economic growth as well as create new innovations for the local companies.”

EUMCCI Review 11

Committees

Committee Message Board:

Education: Establishment of industry

funded student awards

The Education Committee invites private companies and individuals to sponsor university awards for ‘Best Student’ within a relevant field e.g the FedEx award for Best Logistics Student. The type of award (whether monetary or another means of appreciation) would be at the discretion of the awarding company. Interested parties should contact Committee Co-ordinator Ms. Ai Li Ch’ng-Koch: ailikoch@eumcci.com

Education: Launch of UiTM foreign student

internship programme

The Education Committee would like to draw attention to the new UiTM internship program proposed for foreign students from UiTM partner universities. EU Companies in Malaysia are invited to consider hosting internships for the visiting students. These students would be funded by their own universities so internships could be completely voluntary, lasting any period from 1 – 3 months or longer. For more information please contact: noraida@salam.utim.edu.my

Environment, Energy and Green Technology:

Committee visits Energy Commission

The EEGT Committee members were invited to visit the Energy Commission Diamond Building, home to the Energy Commission since June 2010; designed and built with sustainability in mind, specifically geared towards the benefits and challenges posed by the Malaysian climate. The Committee was greatly impressed by the technologies in place, including the use of sustainable materials and the resulting lowered building energy index.

Healthcare: Inaugural Committee meeting

held; still open to new Committee members

The first Healthcare Committee meeting was held on 22nd March 2011 with 8 companies in attendance. Discussions covered a number of healthcare topics but focused mainly on industry issues and how these could be raised and facilitated within the ongoing

EU-Malaysia FTA negotiations. It was agreed that two Sub-Committees will be formed under the Healthcare Committee umbrella; Pharmaceutical and Medical Equipment. A Head of Committee and additional Committee members are required; please contact Committee Co-ordinator, Ms. Ai Li Ch’ng-Koch for further information: ailikoch@eumcci.com

Human Resources: Committee attend presentation

on HRDF

The HR Committee attended a presentation by Rony A. Gobilee of the Ministry of Human Resources Malaysia on 13th April 2011. The presentation was on the benefits of the Human Resources Development Fund.

Editorial: Next issue of EUMCCI Review

to look at Oil & Gas

The July issue of Review will focus on the Oil & Gas field in Malaysia in our feature articles. The Editorial Committee is looking amongst our members for those who would like to contribute as sponsors or guest editors, or to contribute professional (non-commercial) stories for the next issue. We also welcome contributions of advertorials or advertisements from corporations. For more information email: editor@eumcci.com

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EUMCCI Review12

Committees

The Committee also forms the following Sub-Committees:• Freightforwarding• Logisticsserviceproviders• Shipping• HouseholdRemoval

Logistics Committee

Information and Communication Technology Committee

The logistic sector is a crucial aspect for any economy wishing to take advantage of the challenges resulting from globalisation. Key factors in determining whether a com-pany chooses a country for investment, are the condition of infrastructure such as roads, airports, railways and maritime transport, as well as the efficiency of the supporting processes and government departments.

The EUMCCI Logistics Committee, formed by representatives from logistics com-panies, large and small, regularly meets to discuss relevant trade issues and recom-mendations. The Committee lobbies the appropriate authorities and organises semi-nars and sector-related events. In addition the Committee acts as a forum for exchanging information about logistics in Malaysia and has conducted a regional survey on logistics processes and costs. The Committee is also going to launch a survey of logistic key spots in Malaysia.

The Committee objectives are: To promote, support and develop logistics in Malaysia as well as facilitate trade, logistics and investment between EU and Malaysia.

Information and Communication Techno-logy (ICT) has become, within a very short time, one of the basic building blocks of modern society.

The EUMCCI ICT Committee offers a platform for members to network, discuss and raise issues in the ICT sector. The Committee organises sessions with guest speakers from the government to talk about the development in the sector and new regulations.

The Committee’s mission is to build a stronger forum in order to deliver its stated objectives; enhancing cooperation with Malaysian and European authorities for the deliverance of innovative ICT solutions and services.

The stated objectives of the committee are:• IncreasetheaccessofMalaysia’sICT

market through dialogue among the industry players

• Sharingofbestpracticesamongmembers and the industry community in Malaysia

• Developmentofindustryapplicationsthat benefit both the EU and Malaysia

• CooperationwithEUenvironmentalinitiatives

• Transferandexchangeofindustryknowledge and skills

• PromoteMalaysiaasaregionalandglobal ICT hub

Head of the ICT Committee:Mr Krishnakumar GudaPresident and Country Manager, Ericsson (M) Sdn Bhd

Head of the Logistics Committee:Mr Marco TiemanCEO, LLB Teams (M) Sdn Bhd

EUMCCI Review 13

Committee in Focus

A German Business forum designated ‘Check-in to Eastern Germany for European Business Success’, was held on 28th February 2011 at the Shangri-La Hotel Kuala Lumpur. The event was organised by the foreign trade and inward investment promotion agency of the Federal Republic of Germany with the support of its local partner, the Malaysian-German Chamber of Commerce and Industry (MGCC).

L. to r. Thomas Hundt(Germany Trade & Invest), Alexander Stedtfeld(Executive Director, MGCC), Klaus Dornbusch (Head of Division G III 4, Economic Development, Investment Promotion, Infrastructure of the Federal Government Commissioner for the New Federal States), Michael Pfeiffer (CEO Germany Trade & Invest), Peter Altschekow(Managing Director Marketing & Communications, Germany Trade & Invest)

German Business Forum

in Kuala Lumpur attracts

potential investorsHealthcare in EU››Facts about Europe

Healthcare in Europe is provided through a wide range of different systems run at the national level. These systems are primarily publicly funded through taxation (universal healthcare). Private funding for healthcare may be represented by per-sonal contributions towards the non-taxpayer funded portion of healthcare or may reflect totally private (non-subsi-dized) healthcare either paid out of pocket or met by some form of personal or employer funded insurance.

All EU countries offer their citizens a European Health Insurance Card which, on a reciprocal basis, provides insurance for emergency medical treatment insu-rance when visiting other participating European countries.

The European Union has no major competences in the field of healthcare. The European Commission’s Directorate-General for Health and Consumer Protection seeks to align national laws on the safety of food and other products, on consumers’ rights and on the protection of people’s health, to form new EU wide laws and thus strengthen the internal market.

Several EU programmes share common objectives such as supporting health protection and safety, improving living conditions. The EU promotes the coor-dination of national healthcare policies through the open method of coordination with a particular focus on access, quality and sustainability.

Italian Malaysian Business Association reborn

From October 2010, the Italian Malaysian Business Association (IMBA) boasting more than 50 members has been working to create an active platform where the Italian and Malaysian business community can meet, share and build common grounds.

IMBA is a non-profit organization which aims to support the Italian business com-munity present in Malaysia and also to promote Malaysian businesses in relations with Italy. IMBA has the potential to make a huge impact, being representative of a wide variety of Italian know-how and expertise in several fields, from industrial manufacturing to design, oil & gas and research develop-ment.

The first gala dinner of the Association was organized on the 5th January 2010 in conjunction with Alfa Romeo Owners’ Club Malaysia and Sime Darby Auto Connexion to mark the Alfa Romeo Centenary Cele-bration and was attended by the Ambas-sador of Italy who has provided IMBA with

strong support and commitment, since its conception.The official inaugural launch of the Asso-ciation was attended by the Deputy Minister of MITI, Yb. Dato’ Mukhriz Mahathir, who was also impressed with IMBA’s efforts to create opportunities for entrepreneurs and its mission to enhance cooperation in trade sectors of mutual interest. At the launch, representatives of EUMCCI, ITALTRADE were also present, as well as the Ambas-sador of Italy who meaningfully defined the Association as a ‘meeting point and a bridge’ between Italy and Malaysia.

Having these goals in mind, IMBA is striving to grow and become day by day more representative and effective on the domes-tic scene, to realize its projects and expand its area of interest and activity, and most of all, to improve and strengthen the commer-cial relations between Italy and Malaysia.

For more information visit www.imba.org.my

Potential and interested investors were invited to an executive luncheon and given the opportunity to interact with regional business development authorities and Malaysian investors with successful com-panies in Germany. Amongst the speakers were Ir. Lee Swee Eng, Executive Chairman & CEO of KNM Group and Gerhard Nathan, Group CFO of Tanjong Public Limited Company, who relayed their experiences and shared their own success stories regarding investments in Germany.

The forum also showcased the soon-to-be-completed Berlin Brandenburg International Airport (BBI), Europe’s largest airport project. BBI will have a capacity of 27 million passengers when it opens in early 2012. It comes at a time when the capital region is facing record numbers of business travelers and tourists. The airport will provide increased capacity and decreased travel times to Asian destinations.

EUMCCI Review14

EU News

Belgium

Hungary

The Kingdom of Belgium is a federal state consisting of three regions – Dutch-speaking Flanders, French-speaking Walloon, and the bilingual Brussels capital region. The ‘Belgian model’ of harmonious co-habitation of autonomous cultural communities has been put to the test in recent years as speculations about the country breaking up escalate.

Brussels, the capital of Belgium, is also widely credited as the capital of Europe as it hosts the main institutions of the European Union. NATO has also chosen the strategically located, diplomatic haven of Brussels as the site of its headquarters.

Belgium’s premium location in one of the most populous and trade-intensive regions of the world

gives it a natural advantage. The country is one of the leading logistics hubs. Antwerp is the 2nd largest European port and comes 4th globally.

Home of only 0.2% of the world population, Belgium is nonetheless, one of the top 10 countries in terms of volume of international trade in goods. More than just a country of fine chocolate and an array of beers, Belgium is the world’s largest exporter of diamonds, pharmaceuticals, polyethylene and carpets. It also holds the top spot in the EU in terms of foreign direct investment and has the Union’s highest percentage of exports as a component of the GDP, with exports making up more than 90% of the GDP.

A small, landlocked country in Central Europe, Hungary is proud of its emblematic Tokaji wine, paprika goulash, and spa tradition.

Since the advent of democracy in 1989, the country has had to overcome many challenges as a result of its communist heritage. It successfully reformed its planned, state-owned economy into a market economy with a thriving private sector. The latter accounts for over 80% of GDP.

Hungary owes its GDP growth mainly to the expan-sion of exports and investments, with many multi-national companies settling in the country. More than 70% of Hungary’s exports are produced by companies that are partially or fully foreign-owned.

The high openness of Hungary’s economy, as well as the elevated degree of private and state borrowing, made it vulnerable to the global reces-sion. The country was forced to take a $25 bn loan from the IMF and the World Bank.

Size 30,528 km²

Population 10,4 million

Language Dutch, French, German

Capital Brussels

EU-Member since 1951

Currency Euro

GDP $461,3 billion

Growth 1,6 %

Unemployment 8,1 %

Inflation 2,3 %

General Information *

Size 93,028 km²

Population 10 million

Language Hungarian

Capital Budapest

EU-Member since 2004

Currency Forint (HUF)

GDP $132,3 billion

Growth 0,8 %

Unemployment 11,5 %

Inflation 4,5 %

General Information *

Top Five Export Products to Malaysia

- Chemicals- Synthetic Materials and Derived Products- Machinery, Apparatus and Appliances- Base Metals- Food Stuffs

Top Five Import Products from Malaysia

- Machinery, Apparatus and Appliances- Wood, Wood Products and Charcoal- Textiles- Synthetic Materials- Base Metals

Top Five Export Products to Malaysia

- Electronic and Electric Products and Components, Electrical Machinery, Apparatus and Appliances, Computers, IT Accessories

- Transformers, Converters, Accumulators- Medicines, Chemical Industry Products- Textiles- Incandescent Lamps

Top Five Import Products from Malaysia

- Electronic and Electric Products and Components, Electrical Machinery, Apparatus and Appliances

- Computers and IT Accessories- Crude Rubber, Palm Oil and Other Tropical

Agricultural Products- Raw Material for Chemical Industry

* Data 2010 estimate

* Data 2010 estimate

Sources: BBC, Belgian Chancellery of the Prime Minister, CIA World Fact Book, EU-Malaysia Business Directory, Hungarian National Foreign Economy Office, OECD, World Bank.

EUMCCI Review16

2 EU Countries in Focus

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EUMCCI Review18

Heart surgeon Dato’ Dr. Ghandhiraj Somasundram on healthcare in Malaysia

Photo by Lucien DP/belgazone.com

Dato’ Dr. Ghandhiraj Somasundram is an inter nationally recognised Mala ysian heart surgeon at Prince Court Medical Center, Kuala Lumpur, spe cializing in thoracic and cardiovascular sur-gery. He studied and trained in his specialty in both the UK and Austria. He has been accredited by the General Medical Council, U.K. and has worked as a Consultant cardio thoracic surgeon in England.

Dr. Ghandhiraj was one the earlier Consultant surgeons when the National Heart Institute was established in Kuala Lumpur. He then moved to Gleneagles Me-dical Center, a private healthcare facility in Kuala Lumpur before taking the opportunity to work once again in the UK. Eventually Dr. Ghandhiraj decided to return to Malaysia to rejoin his family and give something back to the nation.

Developing Healthcare in MalaysiaOver the years, Dr. Ghandhiraj has seen the level and quality of the healthcare constantly improve in Malaysia, at both primary and secondary medical care levels. The public sector now has many

“We have the expertise, technology and quality”

Feature

EUMCCI Review 19

more hospitals, with good diagnostic equipment and competent medical staff. These include primary healthcare centres in the villages and secondary and tertiary care hospitals in the capital cities of all the states in Malaysia.

Due to overcrowding and long waiting lists for elective medical interventions in public hospitals, private healthcare facilities throughout the country have flourished. Currently there are numerous private clinics and a growing number of privately run hospitals providing both secondary and tertiary medical care.

Some of both public and private hospitals have state of the art, world class facilities and are supported by highly trained medical specialists. In 1989, in the field of heart surgery there was only one functioning unit in the General hospital in Kuala Lumpur. Today there are five public hospitals and about 18 private hospitals which offer cardiothoracic surgical and cardiology services.

Dr. Ghandhiraj: “I am very satisfied with the enormous increase in availability of this form of medical care. Of course, no hospital is complete without good equipment and

staff. The Ministry of Health has made sure more specialist doctors and skilled staff are trained in the local universities or sent abroad for specialized exposures. The increased number of medical and nursing schools has also helped the education and availability of medical workers in Malaysia.”

Private Healthcare Facilities and Service ActIn 2006, the Private Healthcare Facilities and Service Act was introduced. Requiring private medical and dental clinics to register with the government and adhere to certain standards and regulations, the Act includes detailed guidance on every aspect of how general practice clinics and hospitals ought to be run. This includes a professional fee schedule to be adhered to as well as guidelines to treat patients to the best of ability ensuring safety.

“I am happy that the process of introducing proper regulatory measures and accredita-tions has started to ensure delivery of safe and sound medical care. Dr. Ghandhiraj comments “Quality control and accredita-tions are extremely important in healthcare. I think the next step for Malaysia is to aim at stricter regulation of medical practice, periodical revalidation of medical prac-

titioners, a national health insurance scheme and a better, more discretional allocation of health funds and budgets.”

Medical TourismWhat about the future for healthcare in Malaysia? Dr. Ghandhiraj has high hopes for the medical tourism industry in Malaysia: “People come here because the standards and competency of our private hospitals are of world class, not only in terms of diagnostic facilities but also the level of professional expertise. In Malaysia we can diagnose and provide the right treatment quickly and professionally. The cost of care is lower than in other countries, including Singapore. A growing number of our hospitals have international standards and are accreditation by the American Joint Commission International body; we have state of the art diagnostic equipment and new technologies to treat almost any disease to the highest standard.

Our patients come from Indonesia, Europe, U.K, Fiji, Australia and even from Singapore, because besides being a hospitable and a friendly nation, Malaysia offers medical care that is more affordable and of a high standard.”

The global healthcare industry is amongst the most dynamic and rapidly growing industries in the world economy. Spurred by demographic shifts such as extended longevity and a rise in quality of lifestyle, instances of diseases such as hypertension and cardiovascular problems, cancer and diabetes are rising in most countries; national healthcare costs are rapidly increasing accordingly.

As more people around the world take an active interest in their health, a travel segment known as medical tourism has evolved to fill customer needs.

The medical tourism industry has been growing rapidly, as more people seek faster or cheaper alternatives to the healthcare offered in their own countries. Popular medical services include knee or hip joint replacements, cardiac surgery, cosmetic surgery and dental surgery. There is also huge market potential in diagnostic services

Medical Tourism in Malaysia

which can be both cheaper and quicker than in some Western countries.

The number of people seeking healthcare in foreign countries now runs in the millions each year. Patients are generally Westerners though in Malaysia, we also see Asian patients choosing to come to utilise the country’s high quality medical facilities. After receiving medical treatment, many patients take a relaxing recovery vacation. Western patients can often pay for their surgery, flight and a week or two at a resort for as little as a quarter of what they would have paid for the procedure in a private hospital domestically.

India is leading the medical tourism industry, with Thailand and Malaysia close behind. Malaysia is popular for surgery in the following fields; cardiovascular, cosmetic, ocular, general, orthopedic and transplanta-tion and also dental care. At the moment, two thirds of the Malaysian medical tourism

industry is based in Penang and as such, Malaysia promotes its many tourist destinations in tandem with its competitive rates, internationally-trained doctors and excellent facilities.

Patients from richer Asian countries like Singapore and Japan, (the second and third highest sources of medical travelers respectively) visit Malaysia due to the lower cost of medical procedures. Australians and Europeans are attracted to the lower cost of medical procedures in Malaysia, whilst Middle Eastern medical travelers visit Malaysia for both the price and the quality of healthcare provided.

The medical tourism industry looks to expand at a fast pace over the next decade as more people begin to trust the quality of treatment and see the advantages of having their surgery performed in developing countries.

Feature

EUMCCI Review20

In the Economic Transformation

Programme (ETP), launched on 25 October

2010, Prime Minister Najib presented the Roadmap

for Malaysia. The ETP contains action plans

focusing on 12 National Key Economic Areas (NKEA). One of these

areas is Healthcare.

Healthcare as a NKEA

The healthcare industry in Malaysia has become a powerful engine of economic growth. Malaysia’s spending on healthcare, at 5 percent of GDP, is above that of the surrounding countries and public spending is a disproportionate contributor to health-care costs. Currently, the sector contributes to RM15 billion in GNI.

With the Economic Transformation Pro-gramme (ETP) as published in the end of last year, Malaysia aims to grow three sub-sectors within healthcare: phar maceuticals, health travel and medical technology pro-ducts. There is significant oppo rtunity for the country to move from a net importer to a signifi cant player in the RM422 billion prescription and phar maceutical drug industry. Malaysia is also keen to develop the more pro fitable medical tech nology

sub-sectors such as medical dev ices, diagnostic equip ment and healthcare infor-ma tion techno logy.

Finally, Malaysia is aiming to bounce back in the attractive health travel sector and match the growth of its neighbours Singapore and Thailand. The goal is to migrate from primarily a lower-value product strategy to a more com prehensive product, services and asset strategy that better leverages the country’s competencies.

Malaysia aspires to generate RM35 billion incremental GNI contribution to reach RM50 billion by 2020. The Healthcare NKEA is also targeting to welcome 1 million health travelers and conduct 1,000 clinical trials, all of which will result in approximately 181,000 new jobs.

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EUMCCI Review 21

The healthcare systemMalaysia has an efficient and widespread healthcare system operating in two tiers, consisting of a government-run universal healthcare system and a co-existing private healthcare system. According to figures of Unicef, the infant mortality rate – a standard in determining the overall efficiency of healthcare - improved from 19 (per 1000 live births) in 1990 to 6 (per 1000 live births) in 2009, which is better than the rate in some EU countries. The infant mortality rate in the European Union differentiates bet-ween 2.4 and 10 per 1,000 live births.

Malaysia gives priority to expanding and developing healthcare, putting 5% of the government social sector development budget into public healthcare. This means an overall increase of more than RM 2 billion. With a rising and aging population, the government wishes to improve in many areas including renovating existing hos-pitals, building and equipping new hos-pitals, expansion of the number of poly-clinics, and improvements in training and expansion of telehealth.

Foreign investmentsOver the last couple of years Malaysia has increased its efforts to overhaul systems and attract more foreign investment. Fo-reign medical professionals are encouraged to apply for employment in Malaysia, espe-cially if they are qualified to a higher level. There is still however, a significant shortage in the medical workforce, espe cially of highly trained specialists; certain medical care and treatments are still only available in large cities.

The majority of private hospitals are equip-ped with the latest diagnostic and imaging facilities and corres ponding with the increased number of foreigners entering Malay sia for medical care and the recent government focus on developing the me-dical tourism industry, companies are now exploring investing in those private hos-pitals.

The Malaysian government has engaged in significant attempts towards adminis trative reforms of the health care system. How ever, the current healthcare environ ment is cha-racterized by under investment and currently does not meet demand.

The Malaysian market for EUWith the 2011 GDP growth forecasted between 5-6%, Malaysia remains a rela-tively new market with strong perspectives for the pharmaceutical industry. The Malay-sian pharmaceutical market is very dynamic; the total value in 2009 was an unprecedented 888 mio EUR and continues to grow.

The European pharmaceutical industry remains a key contributor to the economic growth of Malaysia and is committed to helping address these health policy objectives.

However, despite Malaysia’s commitments to the WTO, the research based pharma-ceutical companies continue to face long-standing market access barriers and substandard intellectual property protection in Malaysia.

As part of that framework, the European Federation of Pharmaceutical Industries and Associations (EFPIA) along with local industry colleagues have identified the following critical issues that the pharma

ceutical industry would like to see addressed under the EU-Malaysia FTA in order to help strengthen Malaysia’s health system, benefit patients and promote our industry’s competitiveness. These issues are:1. Intellectual Property Protection and

Enforcement2. The Trade & Investment Environment3. Regulatory Requirements for New

Innovative Medicines4. Customs and Tariffs 5. FTA scope and enforcement

In EUMCCI’s Trade Issues and Recom-mendations publication 2011, published during the annual Trade Forum, all issues are discussed and recommendations are made.

Sources: www.pemandu.gov.my, www.unicef.org, EUMCCI Trade Issues and Recommendations 2011

“The European pharmaceutical industry remains a key contributor to the economic growth of Malaysia”

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EUMCCI Review22

Visit by Swedish Health MinisterOn 4th April 2011, the Institute of Occidental Studies, (Universiti Kebangsaan Malaysia) in collaboration with the Swedish Embassy, organized an event where Mr. Göran Hägglund, the Swedish Minister of Health gave a talk on the topic ‘Achieving World Class Health and Medical Services’. This talk was a particularly relevant one as Malaysia as a country is currently working to a model that is the reverse of that existing in Sweden – but is striving to switch this balance.

Swedish healthcare is almost entirely publicly funded. 90% of the healthcare costs of the country are paid through taxes, and these are spent on comprehensive healthcare system available to all Swedish citizens. The percentage of people taking up the offer of private primary healthcare is however growing and this is something that the Swedish government has and continues to encourage.

Private hospitals account for 20% of the Malaysian healthcare provision but employ 54% of the doctors in Malaysia. The Malaysian government is currently focusing on expanding and developing the public healthcare provision and 5% of the social sector development budget goes towards

this. This is in comparison to 9% of Sweden’s total GDP which is spent on healthcare.

The public healthcare provision is all encompassing in Sweden but the private healthcare provision in the primary sector is rapidly growing, providing the population with choice. Whilst the private insurance that covers those that choose to take this option is in addition to the taxes that are paid by all Swedes, the government hopes that in time, this too will be able to be a provision within the government’s healthcare offering.

Another forward thinking project was the commissioning of a model to simulate the aging of the Swedish population over the next 40 years and the provisions that will need to be made within the healthcare system, to accommodate these changes. Initiated through a government decision in 2006, the LEV project (Long-Term Demand for Welfare Services: Health Care and Care of the Elderly up to 2050), the report has produced results that indicate that the increased needs of the population can be

met without increasing the share of health and elderly care in the county’s GDP by increasing productivity within the health and elderly care sector.

Whilst many would say that Sweden already has a world class healthcare system, Mr. Hägglund claims that this is something that the country still aspires to. “The true measure of a good healthcare system is the achieving of good patient outcomes.” This is what the Swedish healthcare system is working towards and they have put a number of initiatives in place to get there.

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Mr. Göran Hägglund, Swedish Minister of Health

Feature

Demogr_Health_hospital_asia_magazin_210x297_E.indd 1 5/4/2010 3:30:34 PM

Have you ever wondered how the big hypermarket chains that seem to be opening more and more stores go about their expansion and how they see themselves fitting into Malaysia’s overall retail landscape?

EUMCCI Review spoke to someone who is truly passionate about retail, Tjeerd Jegen; a Dutch National, who took over the helm of Tesco Malaysia in 2010 after working as the COO of Tesco Thailand. He had also previously worked in other food retail chains such as real, and Ahold in Central Europe.

What compelled you to take up the post of CEO of Tesco Malaysia and

what is your biggest challenge in that role?I had always admired this company; the most successful international retailer. So after nine years of working in retail in Central and Eastern Europe, I was offered an opportunity to work with Tesco in Thailand. The plan was that I would move into a country leading role in the region. So after a year and a half as COO in Thailand, I was appointed in Malaysia.

It’s a very exciting role, full of opportunities – at Tesco we don’t use ‘challenge’ we prefer ‘opportunity’. In Malaysia we still have a lot of potential to grow, both geographically, for example at the moment

we don’t trade in Sabah or Sarawak, and from a store point of view. My plan is to make Tesco very accessible in Malaysia. This country has plenty of opportunity for growth especially if you look at the Government’s plan to double the income in the next 10 years. So for us, a growing population combined with growing income means that there will be enough for everyone to have a proper living and grow their company.

With 38 stores and over 14,000 staff Tesco has become a considerable force in the local hypermarket scene. How do you see the prospects for Tesco going forward given the keen competition?80% of all the food sold in Malaysia is sold in traditional shops i e. small shops, wet markets etc. Only 20% is sold in hyper-markets. Tesco appears prominent because we are big in Klang Valley, but overall we are still small, since countrywide most Malay-sians still buy their food in the traditional outlets. This is a very unusual number and unlike most other markets in Europe or Asia where modern retail makes up about half or sometimes 60 per cent.

How do you manage such a huge and diverse workforce?My limited experience in Malaysia so far has taught me to cherish the diversity of my Malaysian team. I’ve found that the departments with the most ‘mixed’ teams usually produce the best results, as they combine different qualities and skills. I also have to link this back to our customers. Our customers are truly ‘1 Malaysia’. So because of our diverse workforce we can cater well to the various customers for example around holidays like Hari Raya, Chinese New Year, Deepavali etc. What also helps us is our system, we call it ‘Tesco in a box’ which means that in all Tescos around the world you will have the same way of reporting stock results, laying out store etc. This simple way makes it easier for us to train our people, serve our customers and organise ourselves in a good way to get the job done.

Read the full interview with Mr. Jegen online at www.eumcci.com

Tjeerd JegenCEO Tesco Malaysia

Photo by Lucien DP/belgazone.comPhoto by Lucien DP/belgazone.com

EUMCCI Review24

Questions to

EUMCCI Review 25

Events

EU Trade Commissioner visits KL for second round of FTA negotiations

On 14th March 2011, EUMCCI, in joint coopera tion with the EU Delegation and ASLI hosted a talk by EU Trade Commissioner Karel De Gucht. The Trade Commissioner made remarks on the state of the Doha Round of negotiations but it was the “ambitious and comprehensive” free trade agreement (FTA), currently being negotiated between the European Union and Malaysia that was foremost on the Commissioner’s agenda.

The EU is already one of the biggest foreign investors in Malaysia and the Commissioner highlighted the benefits further collaboration would bring. “Malaysian GDP could rise by over 7% under an ambitious scenario. In addition national income would rise by more than €11 billion, as well as wages and exports both increasing by around 8%. We have also calculated there will be some 650 millions of duty savings on both sides. Both EU and Malaysian companies can clearly see the benefits that an FTA would bring them. Duties on exports to both markets will be eliminated or substantially reduced. In addition, the opportunities created by opening up the services, invest-ment and government procurement markets.”

Particular focus sectors for European capital inflow could be ICT, finance, and logistics, as well as the field of green technology where the EU holds the cutting edge. “EU and Malaysia have the ambition to conclude a green FTA that promotes trade in green technologies, attracting green high-tech investment into renewable energy technology from Europe and the promotion of eco-tourism.”

The FTA will make the policy environment for trade more predictable, transparent, and secure. Commitments in key areas like IP rights, government procurement and com-petition will need to be made in order to create a business-friendly climate, espe-

cially with the ambitions the EU has for SMEs. Commissioner De Gucht holds that “an FTA should be user friendly and have simple rules that our operators can work with. We are trying to achieve just that, in our negotiations.”

The Commissioner also emphasised the role that trade plays in the economy for both parties, “Malaysia is the second largest trading partner within ASEAN [for the EU] and the EU is Malaysia’s third largest trading partner. Trade is the one of the most important factors in recovery in the EU and around the world.”

Trade should be inclusive and broader implications, such as the environmental and social impact must be considered. “Before

launching the FTA negotiations [the EU] discussed with Malaysia the scope and level of ambition of the agreement.” The Commissioner acknowledged the concerns of Malaysian civil society and confirmed that all topics would be addressed through an open dialogue and exchange of informa-tion. “In this respect, the EU’s own expe-rience, accommodating for diversity and pluralism similar to Malaysian values, can provide a common ground of under-standing.”

The Commissioner also confirmed the renewed cooperation of the EU with ASEAN, despite the discontinued FTA talks. On 5th May in Jakarta the first ASEAN-EU

Business Summit will be held, bringing together high-level business and political leaders. Com missioner De Gucht encouraged Malaysian representatives to take part in the event which will be “an excellent opportunity for EU and ASEAN business to first, meet and interact among themselves and second, directly convey their views, concerns and wishes to me and to ASEAN Economic Ministers.”

Find out more about the 1st ASEAN Business Summit: www.ASEAN-EUBizSummit.com

H.E. Karel De Gucht, EU Trade Commissioner

“EU and Malaysia have the ambition to conclude a green FTA that promotes trade in green technologies, attracting green high-tech investment into renewable energy technology from Europe and the promotion of eco-tourism.”

Monday 14 March 2011

EUMCCI Review26

Events

VIP Luncheon with YAB Tuan Lim Guan Eng, Chief Minister of Penang‘Penang to enhance its competitiveness for the business arena’

Introduced by the EUMCCI Chairman David Jones, the Chief Minister of Penang started by listing Penang’s most recent achieve-ments. Topping the list for foreign invest-ment within the country for the first time; bringing in 36% of the FDI in 2010 and 51% of the total electronics exports of the country and almost a quarter of Malaysia’s exports, as well as a 465% increase overall in the investments in Penang in 2010 from the previous year.

As denoted by the topic YAB Tuan Lim Guan Eng’s speech focused on Penang’s strengths and the essentials for growing and building on their current success. The Chief Minister highlighted the seven critical factors focused on in order to increase the growth and raise the profile of Penang. These included governance, a talented workforce, a livable city appealing to crea-

tive and innovative people, intel lectual pro-perty protection, a reliable logis tics hub, competent supply-chain manage ment and building creativity and innovation in science and technology.

The aspiration to make Penang an inter-national and intelligent city has been met by the criteria above and the fight against the three C’s that the Chief Minister and his government first encountered when they come into power three years ago; crime, congestion and the lack of clean liness. In tackling these, the outcome speaks for itself as the quality of life and business has gone up in Penang.

Another initiative is the forming of the Penang Science Council (PSC), a body tasked with the role of establishing Penang as a science and technology centre of

Tuesday 22nd March 2011

Breakfast dialogue with Yg Bhg Tan Sri Zarinah Anwar, Chairman of the Securities Commission Malaysia Wednesday 16 February 2011

The Securities Commission Malaysia (SC) is responsible for protecting investors and encouraging the future development of the capital market in Malaysia whilst regulating all matters relating to securities and futures contracts, take-over and mergers of com-panies and matters relating to unit trust schemes. Yg Bhg Tan Sri Zarinah Anwar, Chairman of the SC, shared her vision on the developments within ASEAN and the work of her organisation.

The last decade saw significant growth in stock markets, bonds and fund manage-ment, with Malaysia having the 3rd largest bond market in Asia relative to its GDP. The Shariah-based market grew from RM293.7 billion in 2000 to RM992.2 billion in 2010 whilst unit trust net asset value grew from RM43.3 billion in 2000 to RM222.7 billion in 2010. Malaysia’s capital market is worth RM1.9 trillion, with 72,000 licensed and registered intermediaries; while the Islamic capital market is worth RM1,275.3 billion.

Malaysia has the largest and most liquid sukuk market issuing 62% of global sukuk as well as the largest number of Shariah-

funds in the world and is the second largest (after Saudi Arabia) by net asset value. The Islamic capital market in Malaysia has seen much innovation and its head start has con tributed to Malaysia’s leadership role in the global sukuk market. Malaysia’s Islamic residential mortgage-backed securities is the world’s first and its stock exchange hosts the world’s first listed Islamic REIT and the region’s first Islamic ETF.

Regional IntegrationThe ASEAN Capital Markets Forum (ACMF), through its Implementation Plan, has iden-

tified various initiatives to promote the development of an integrated ASEAN ca-pital market. Among others, the ACMF is currently working on efforts to facilitate the cross-border offering of products, allow the mutual recognition of market professionals, promote cross-listings and improve cor-porate governance standards among ASEAN listed companies, as well as facilitate cross-border trading through exchange linkages.

Tan Sri Zarinah explained “Integration in the ASEAN context does not refer to a single financial market such as the European Union, but a process of creating enabling conditions to facilitate greater cross-border access in the region”. Given the different levels of development and regulation in ASEAN countries, the region has adopted a pragmatic approach to integration by focusing on mutual recognition and har-monization of standards, thus allowing ASEAN countries to opt-in to the framework when they are ready to do so.

Read more about Tan Sri Zarinah’s talk at www.eumcci.com.

Yg Bhg Tan Sri Zarinah Anwar, Chairman of Securities Commission, Malaysia.

YAB Tuan Lim Guan Eng, Chief Minister of Penang

excellence. Under the theme of ‘Inspiring Innovation’ the PSC has three main ope-rational criteria: full engagement by and with the academia, industry and the state government; purely industry driven; minimal government interference only facilitation.

EUMCCI Review28

Events

Recent Activities

18th January 2011VIP luncheon with the EU Ambassador

16th FebBreakfast dialogue with the Chairman of Securities Commission, Malaysia

18th FebEUMCCI Members Networking Hi-tea

22nd FebHigh-tea Dialogue with the Malaysian Communication & Multimedia Commission

14th MarchBreakfast dialogue with the EU Trade Commissioner

21st MarchVIP luncheon with the Chief Minister of Penang

28th MarchHR workshop, “Too many bosses, too few leaders”

Upcoming events

21st AprilEU Malaysia Trade & Investment Forum

3rd MayStrategic Trade Act - Seminar for Industry

23th MayBreakfast Dialogue with the CEO of Green Tech Corporation

27th MayTastes of Europe (formerly known as Wine, Beer and Cheese Fest)

16th JuneGreen Logistics Forum

23rd JuneEUMCCI AGM

More information: events@eumcci.com

EUMCCI Events:EU-Malaysia Trade and Investment Forum 2011

The annual EUMCCI EU-Malaysia Trade and Invest-ment Forum this year took place on 21st April, at the Royale Chulan Hotel, Kuala Lumpur. Hosted by EUMCCI Chairman David Jones, the Forum functioned as the successful launch of the 2011 EUMCCI Trade Issues and Recommendations book.

The forum opened with a speech by David Jones, who highlighted the timely nature of the event given the recent developments in PEMANDU, the Govern ment Transforma-tion Plan (GTP) and Eco nomic Transforma-tion Plan (ETP) followed with an address by the President of the Federation of Malaysian Manufacturers Tan Sri Datuk Mustafa Mansur. The morning events also featured a lively panel discussion between H.E. Vincent Piket, EU Ambassador, Dato’ Vasudevan from MITI and TalentCorp CEO Johan Mahmood Merican on the topic “EU-Malaysia: A more competitive Malaysia in the services sector”.

The debate focused in on four of the key measures highlighted in the Trade Issues and Recom-mendations book; human ca-pital development, the liberali-zation of services, the enhance-ment of transparency and minimisation of corruption within business and the creation of a more open environment for creativity and innovation. TalentCorp CEO, Johan Mahmood Merican put forward news of initiatives that had been started in the electronics industry as a government and industry collaboration, working towards innovation and the development of human capital. Mr Merican also expounded the idea that chambers such as the EUMCCI were ideal platforms to facilitate future talks between the two areas.

The focus of the day was however on the launch of the Trade Issues and Recom-mendations 2011; a compilation of the position papers from the 13 EUMCCI

21st April 2011

sectoral Committees, covering specific industry sector issues and cross sectoral matters such as legal and tax issues, CSR and intellectual property rights. The Trade Issues and Recommendations 2011 high-lights ongoing issues relevant to the EU community of businesses within Malaysia, inclu ding the ongoing Free Trade Agree-ment (FTA) negotiations and provides key recommendations for govern ment. Many of the issues addressed in previous editions of the Trade Issues and Recommendations have been recognised and subsequently addressed in the government’s recent ETP and GTP.

Whilst the specifics of the current FTA negotiations could not be divulged, the EU Am-bassador, Vincent Piket con-firmed that talks were pro-gressing on schedule and he was confident that there would be positives for both sides on the successful conclusions of talks. The FTA was a discussion point for many of the position

papers within the Trade Issues and Recommendations book also, given the impact that such talks could have on every aspect of business between the EU and Malaysia.

In addition to issues raised by the Committees in the Trade Issues and Investment 2011, the EUMCCI’s prime focus remains on the services sector through the ‘Enhancing Business Dialogue and Cooperation in the Services Sector’ project, co-financed by the European Commission.

www.eumcci.com

EUMCCI Trade Issues and Recommendations 2011

EU-MALAYSIABUSINESS

From l. to r: Dato’ Vasudevan, Tan Sri Datuk Mustafa Mansur, David Jones and H.E Vincent Piket

To obtain a copy of the EUMCCI Trade Issues and Recommendations 2011, or to view images from the Trade and Investment Forum, please visit www.eumcci.com

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Crowne Plaza Mutiara Kuala Lumpur Receive Aon Hewitt Best Employers In Malaysia 2011 Award

It was truly a day to remember for Crowne Plaza Mutiara Kuala Lumpur, presented with the award for being one of the top 10 winners of the Aon Hewitt Best Employers in Malaysia 2011.

Mr. Charles Marshall, Area General Manager for IHG Malaysia/General Manager Crowne Plaza Mutiara Kuala Lumpur received the award from the Minister of Human Resources, Y.B Datuk Dr. S. Subramaniam on 29 March 2011 at the 12th National Human Resources Summit.

It was a first for this hotel to be placed in the Aon Hewitt Best

Employers in Malaysia awards list, and the efforts of the employees to collaborate at delivering a great brand experience was definitely felt and noticed.

“We are proud of these awards and they represent an excellent opportu-nity to celebrate our people practices and bench mark them against other great companies. The awards also rein force our strong culture of employee engagement activi ties and the opportunities our people have to “grow” in the right environment and deliver our core purpose of Great Hotels Guests’ Love” said Charles Marshall.

Mr. Charles Marshall, General Manager Crowne Plaza Mutiara Kuala Lumpur accepting award.

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Qatar Airways has added two more des-tinations to their growing network - Brussels and Stuttgart, via Doha. Since 27th March, an extra three weekly services have been connecting the Kuala Lumpur to Doha twice a day, marking the airline’s 10th year of operations in Malaysia. One of the airline’s most popular and oldest routes in South East Asia, the airline’s Kuala Lumpur route has continually grown since the airline launched services in 2001.

Qatar Airways launched scheduled flights to Europe’s capital city of Brussels in January and Stuttgart in March, establishing the airline’s 98th and 99th international destination. Qatar Airways began operating flights to both Bucharest and Budapest from its Doha hub in January.

“By adding Brussels to the Qatar Airways network, it has opened up a myriad of connections through other hubs in Doha to the Middle East, Africa, and Asia Pacific regions. These new additions also enhance

Qatar Airways adds Brussels and Stuttgart to its expanding global network

Standard Chartered KL Marathon raises nearly RM40,000 to date for Charity

the airline’s presence in Brussels further as demand for the service grows and promises an increased capacity by the end of the year” said Qatar Airways Chief Executive Officer Akbar Al Baker.

“Stuttgart, Germany is an attractive busi-ness location and driving force behind

Germany’s strong economy, and it is a destination of great appeal and potential for Qatar Airways. The State of Qatar has one of the fastest growing economies in the world and is delighted to link the two dyna-mic powerhouses with non-stop flights, fostering business and tourism ties.”

29th March 2011 was the official launch of Standard Chartered’s KL Marathon 2011’s “Run For a Cause” charity programme. This community initiative aims to help by providing a platform for individuals or teams to donate money to charity, simply by running in the Standard Chartered KL Marathon, which will take place on 26 June 2011.

The launch event introduced the six charity organizations that will benefit from Run For a Cause: The National Autism Society of Malaysia (NASOM); Yayasan Anak Warisan Alam (YAWA); Malaysian AIDS Foundation (MAF); The Malaysian Association for the Blind (MAB); National Cancer Society of Malaysia (NCSM); Standard Chartered Trust Fund (SCTF).

Norliza Kamaruddin, Country Head, Corpo-rate Affairs, Standard Chartered Bank Malaysia Bhd, from Standard Chartered Trust Fund said “I’ve had the opportunity to watch this programme grow over the past three years, and am continuously amazed and inspired by the strength of the many runners who dedicate their sweat and sore muscles to a worthy cause. We at the Standard Chartered Trust Fund hope to inspire people to give back to the community, to help create the marathon spirit – that drives ambition – throughout Malaysia.”

Corporations who want to get involved are encouraged to join the Corporate Challenge, a platform for companies to compete in the race as a team while giving

back to the community by donating much needed money to the chosen charities.

More information about the Run For a Cause, Corporate Challenge and the Standard Chartered KL Marathon 2011 can be obtained by logging on to www.kl-marathon.com

Qatar Airways launches flight to Stuttgart

Norliza Kamaruddin, Country Head, Corporate Affairs, Standard Chartered Bank Malaysia Bhd and Board of Trustees Member for Standard Chartered Trust Fund.

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RH Investment Services invited to MasteryAsia

Pertubuhan Kanak-kanak Insan Istimewa Cemerlang Receives a Donation from DHL Express

Richard Hull, Director & Principal Officer for RH Investment Services was invited to speak at an event hosted by MasteryAsia at the Swan Convention Centre, Sunway City. MasteryAsia, a global coaching and men-toring organisation hosted the event to create public awareness regarding kidney diseases and to raise RM50,000 to pur-chase a Kidney Dialysis Machine. To date MasteryAsia have managed to raise over RM35,000 in Malaysia.

More than 250 people attended the event on 12th March 2011 and all money from ticket sales was donated to the National Kidney Foundation (NKF) of Malaysia. Mr

Hull was part of a panel of eight wealth experts who shared tips with attendees at the Multiple Sources of Income Seminar.

The topic of Mr Hull’s talk was “Gold & silver and the smarter and safer way to do it”. An Independent Financial adviser, Mr Hull has 13 years experience in financial services and founded RH Investment Services in 2004. Working to help people grow and preserve their wealth, Mr Hull was happy to speak at such a high profile event that not only helps people to become financially educated but also has a solid CSR programme.

Richard Hull, Director & Principal Officer for RH Investment Services

DHL Express recently donated RM10,000 to the Pertubuhan Kanak-kanak Insan Istimewa Cemerlang (KIIC) in a private cheque presentation ceremony on 1 April 2011 at DHL Express (Malaysia) Snd. Bhd country office.

KIIC is a non-profit organisation, established in 2006 with the aim of equipping deserving special children with real-life exercise and free education. In its attempt to make the lives of these children better, KIIS set up a fund, “Tabung Kebajikan Insan Istimewa” to raise money.

Through this fund, KIIS will utilise the donations collected to create a more conducive environment for these children to learn and grow. In addition, KIIS would also be able to provide these children with therapy facilities, treatment, wheelchairs and artificial limbs.

As the world’s leading logistics and interna-tional express business, DHL Express believes in playing an active role in the communities it operates in, through its on-

going CSR efforts. David Ng, Managing Director, DHL Express said, “It is the responsibility of corporate organisations like us to reach out and assist deserving parties. We feel that our engagements

enable us to become more effective change agents in society.”

For more information on KIIS,please visit: http://pkiic.com/

DHL presenting cheque to KIIC

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››› MITI host dialogue session with Business Councils

››› Invest Malaysia 2011 - “Message to Passage of Transformation”

A dialogue session with Business Councils was held in the Banquet Hall Foyer of KLCC on 21st January with Malaysia’s Prime Minister, YAB Dato’ Sri Mohd Najib Tun Abdul Razak and Ministers Y.B. Dato’ Sri Mustapa Mohamed, (Minister of International Trade and Industry) and Y.B. Senator Dato’ Sri Idris Jala (Minster in the Prime Minister’s Department and CEO of Performance Management and Delivery Unit) in attendance. The dialogue session was to provide an update on the government’s measures to enhance the business environment and to give businesses an opportunity to feedback on the steps already put in place by the government to assist business in Malaysia.

EUMCCI sponsors and members were in attendance at the event, which included a presentation on the Economic Trans formation Programme (ETP) by Y.B. Senator Idris Jala, followed by feedback on the ETP from the foreign business community. MITI deemed the session chaired by Y.B. Dato’ Sri Mustapa Mohamed a step forward in their continued engagement with the private sector and business communities within Malaysia, to enhance and promote trade and investment.

Bursa Malaysia will once again played host to the domestic and foreign investment community at the Invest Malaysia 2011 confe-rence held in Kuala Lumpur on 12-13 April 2011. This premier investment confe rence showcased the attractive investment op-portunities in the Malaysian capital mar ket. With the collaboration of Maybank Investment Bank, this year’s forum was hosted in parti-cipation with the Malaysian Industrial Development Authority (MIDA) in order to promote direct investment oppor tunities to delegates.

This year’s installment, themed “Message to Passage of Transforma­tion”, took an in depth look at the implementation initiatives of the Government-led Economic Trans formation Programme (ETP) and its impact on select sectors and listed companies on Bursa Malaysia. The discussions centred on the developments through the ETP’s Entry Point Projects (EPP) and the action plan charting the progress forward.

The highlight of Invest Malaysia 2011 was the keynote address by YAB Dato’ Sri Najib Tun Razak, the Prime Minister of Malaysia, in which he announced plans for more investments to support and encourage growth, as well as launching the second Capital Market Plan, aimed towards cutting red tape in financial transactions, a private pension fund framework and the Returning Experts programme. This was hoped to encourage more Malaysians to return from overseas, drawn by the promise of a 15% tax rate and the introduction of the new Residence Pass, which will allow highly-skilled foreign workers to remain in Malaysia for 10 years.

Uday Jayaram, Bursa Malay sia’s Global Head of Se curities Markets commented, “As we engage the local and foreign com munity by show casing the best of what the Malaysian capital market has to offer, we are confident they are able to see the compelling proposition of Malaysia. In addition to providing detailed insights into our leading companies, Invest Malaysia 2011 is a chance for investors to have an overview of our Government’s commitment and progress in the ETP.”

Invest Malaysia started in 2005 and was organised on the premise of converging local and foreign institutional investors, fund managers and analysts in one location with the opportunity to meet with the

key individuals involved in the Corporate Malay sia success story. The investment confe rence has received positive response and feedback from delegates affirming that this platform has aided them in making investment decisions in Malaysia.

This was the second year of MIDA’s partici pation in the Invest Malaysia forum focusing on the oil & gas, services and electrical & electronics sectors. Approxi mately 400 captains of industry representing domestic and foreign companies partici pated in the event, networking and scouting for opportunities.

Over 30 listed companies were showcased in sectors such as oil and gas, plantation, financial services, and healthcare, among others and this year’s Invest Malaysia is reported to have drawn more than 800 delegates.

Source: MIDA

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YAB Dato’ Sri Najib Tun Razak , Prime Minister of Malaysia speaking at Invest Malaysia 2011

201-202 Phileo Damansara 1Jalan 16/11, Petaling Jaya46350 Selangor Darul EhsanTel: +603-7955 3166Fax: +603-7955 3177Email: sales@atec-asia.comWebsite: www.atec-ltd.com

Chief Executive in MalaysiaMr Wolfgang Hammer

Brief Company ProfileA TEC is specialized in cement pyroprocess technology, offering engineering as well as consulting / project management for the complete pyroprocess in cement plants. Our services and products cover a range from engineering to equipment supply up to turnkey solutions. Due to the high energy cost pressure, A TEC also became active in the field of alternative energy. A TEC is providing a concept for the separation and shredding of Municipal Solid Waste from the landfills to be used as Refuse Derived Fuel in order to substitute fossil fuels. This concept is customised for the Asian market.

A Tec Asia Sdn Bhd

Level 35, The Gardens North TowerMid Valley CityLingkaran Syed Putra59200 Kuala LumpurTel: +603-2088 4000Fax: +603-2088 7000Email: shallin.chuah@accenture.com (Country Marketing Lead)Website: www.accenture.com

Chief Executive in MalaysiaMr Goh Aik Meng (Country Managing Director)

Brief Company ProfileAccenture is a global management consulting, techno-logy services and outsourcing company, with more than 215,000 people serving clients in more than 120 countries. Combining unparalleled experience, compre-hensive capabilities across all industries and business functions, and extensive research on the world’s most successful companies, Accenture collaborates with clients to help them become high-performance busi-nesses and governments.

Accenture

15th Floor, Menara Atlan161B Jalan Ampang50450 Kuala LumpurTel: +603-2171 2137Fax: +603-2171 2139Email: info@careerxcell.comWebsite: www.careerxcell.com

Chief Executive in MalaysiaMs Czarina Alia Abdul Razak, Chief Operating Officer

Brief Company ProfileCareerXcell is an end-to-end total HR solutions provider that is unique in its approach and delivery method. CareerXcell’s strengths includes using local and global best practices, processes and HR methodologies, providing customized and tailor-made solutions, and is made up of a team of professionally trained and experienced HR experts.

CareerXcell Sdn Bhd

5, Temasek Boulevard#09-01, Suntec Tower FiveSingapore 038985Tel: +65 6510 6475Fax: +65 6510 6400Email: isneo@ebay.com (primary contact) jalee@ebay.comWebsite: www.ebay.com

Chief Executives in MalaysiaMr Jason Lee, Head of Southeast Asia & Middle EastMs Isabelle Neo, Chief of Staff, Asia Pacific Government Relations

Brief Company ProfileeBay Inc. is a leading e-commerce service provider which owns and operates eBay-branded websites worldwide. It brings together a global web community of over 90 million active traders, buyers and sellers within an online marketplace, allowing businesses and individuals to conduct and online business and payment securely, easily and quickly. At eBay Southeast Asia cross-border trade, our mission is to promote the export of goods from Southeast Asia to international buyers on international eBay sites like eBay.com.

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eBay Inc

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28-3B, Jalan PJU 1/3ASunwaymas Commercial Centre47301 Petaling JayaSelangor Darul EhsanTel: +603-7803 5549Fax: +603-7803 3525Email: franciscus@encycle.com.myWebsite: www.encycle.com.my

Chief Executive in MalaysiaMr Franciscus Stephen, Managing Director

Brief Company ProfileConsultancy and service provider for innovative solutions to hazardous industrial waste. We are representing Ecotech Polska – a Greenevo rated Polish company for green technology in South East Asia. Greenevo is a project accelerator by the Ministry of Environment Poland. EnCycle Sdn Bhd is experienced in providing the recycling of base and / or precious metal needs via the Basel Convention exercise.

EnCycle Sdn Bhd

Block 2A, Suite 15-1Plaza Sentral, Jalan Stesen Sentral 550470 Kuala Lumpur, MalaysiaTel: +603-2261 4222Fax: +603-2261 4777Email: jm@mma.com.my

Chief Executive in MalaysiaMr John Madsen, Director

Brief Company ProfileThe main businesses of Global Clean Development are:Photovoltaic Tiles, Biogas Plants and Converting Biomas to Biogas – Electricity. Also founder of the Strategic Green Alliance consisting of 5 Danish Companies, all located in Malaysia, covering most services and products in respect of: Considerably reducing the energy consumption in any type of buildings, Turning waste into energy

Details can be found under the website www.strategic-green-alliance

Global CleanDevelopment Sdn Bhd

No. 1, Jalan Bumbung U8/90Seksyen U8, Perindustrian Bukit Jelutong40150 Shah Alam, SelangorTel: +603-7841 1280Fax: +603-7848 3539Email: info.kualalumpur@kuehne-nagel.comWebsite: www.kuehne-nagel.com

Chief Executive in MalaysiaMr Holger Beyer, Managing Director

Brief Company ProfileKuehne + Nagel delivers end-to-end supply chain management solutions via seafreight, airfreight, road freight and contract logistics.

Kuehne + Nagel Sdn Bhd

Teluk Belanga, Pulau Pangkor32300 Perak, MalaysiaTel: +605-685 1091Fax: +605-685 1852Email: reserve@pangkorislandbeach.comWebsite: www.pangkorislandbeach.com

Chief Executive in MalaysiaMr Ermanno Cima Vivarelli, General Manager

Brief Company ProfileA true jewel on the West Coast of Peninsular Malaysia, Pangkor Island Beach Resort is the perfect getaway from the metropolitan life to rest, relax and rejuvenate.

Pangkor Island Resort Sdn Bhd

Level 40, Tower 2PETRONAS Twin Towers, KLCCTel: +603-2168 4261Fax: +603-2168 4201Email: richard@rhinvestmentservices.comWebsite: www.rhinvestmentservices.com

Chief Executive in MalaysiaMr Richard Hull, Director/Principal Officer

Brief Company ProfileWe are Independent Financial Advisers (IFA) and therefore have access to over 7,000 funds from 400 fund managers. We recommend that every portfolio should have some gold and silver to counteract the devaluation of the worlds global currency the dollar.

RH Investment Services Labuan Ltd

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