Annual Report from 2018

BRITISH MALAYSIAN CHAMBER OF COMMERCE BERHAD

Incorporated in Malaysia and Limited by Guarantee (1280091-P)

ANNUAL REPORT

2018

BMCC

YOUR BUSINESS PARTNER IN MALAYSIA WWW.BMCC.ORG.MY

SPONSORS, PARTNERS AND STERLING MEMBERS IN 2018

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TO OUR CHERISHED MEMBERS

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ooking back on 2018, what a year of transition it was for our Chamber and nation! The results from the 14th Malaysian General Elections on May 9th has set the nation on a new Governmental direction. In this process, numerous policies, legislations and administrations have been revisited; impacting as well as creating opportunities for businesses across all sectors. As the membership-based bilateral trade organisation we are, the BMCC needed to adapt quickly and play an active role in facilitating this change for our member companies.

One of the BMCC’s highlights for 2018 was its transition from a Society to a Company Limited by Guarantee (CLBG). At the EGM held on 11 June 2018, members voted for the dissolution of the Chamber’s Society status.

The accumulated funds and assets from its years as a Society were successfully transferred on 1 July 2018 to the new entity, British Malaysian Chamber of Commerce Berhad which was incorporated under the Companies Act 2016 on 15 May 2018. Our AGM on 2 July 2019 thus represents the BMCC’s first AGM as a CLBG. By means of talk and networking events, the BMCC continued to create a variety of public platforms for our members to access and engage with Ministers and key players in the new Malaysian government. These avenues were not just important for our members to seek answers, voice concerns and learn of the new Government’s heading. It was also vital for the Ministers to get up close and personal with the decision makers of our business community. Through the formation of the BMCC’s Advocacy Working Group in 2018, the Chamber was able to forward feedback from our members on focused matters directly to the Minister of Finance and the Minister of International Trade and Industry through closed-door 1-2-1 meetings.

Over the course of 2018, the BMCC had organised more than 40 events, both social and professional in nature.

Another highlight was the launch of our inaugural Business Excellence Awards in July, held in conjunction with BMCC’s 55th Anniversary. The scale and prestige of the gala event attracted more than 450 attendees from all industries and senior government officials. The success of the event solidified the installation of a new annual flagship event for the Chamber, designed to acknowledge the best of British and Malaysian businesses on an international level.

The BMCC was proud to see it’s Energy Committee grow from strength to strength, having organised several successful events in 2018 with key players such as PETRONAS, MOGSC, EIC and the Ministry of Energy, Science, Technology, Environment and Climate Change. Through the BMCC Trade Team, the Chamber continued to help British companies establish a presence here in Malaysia. Several success stories of 2018 included Naylor Farms, Nimble Babies and The Rose Tree.

All that we have accomplished in 2018 would not have been possible without the resilience of the Executive Office team, the support from our Patrons, Board of Directors, our Sponsors and Partners, the British High Commission Kuala Lumpur and the Department for International Trade, our 45 Sterling members for the year, and of course, our treasured members. Thank you all for a fantastic 2018, and may we continue to build upon the ties we have built!

Andrew Sill Jennifer Lopez Chairman Executive Director

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BMCC Patrons & Board of Directors (As at December 2018)

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BMCC Executive Office Team (As at December 2018)

About BMCC

Established in 1963, the British Malaysian Chamber of Commerce (BMCC) has been driven by the sole ordinance of advancing bilateral trade relations between the United Kingdom and Malaysia.

Over the past five decades, the BMCC has been a catalyst in providing Malaysian-based businesses with networking and exposure, knowledge exchange and bilateral trade support services.

Today, the BMCC has firmly rooted itself as one of Southeast Asia’s most prolific Chambers.

Our 4 main services are:

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2018 HIGHLIGHTS BMCC Events • Working with Other Chambers Industry Advocacy • BMCC Energy Committee • BMCC Trade Services

11 June 2018 proved to be a historic day for the Chamber. At the Extraordinary General Meeting of the Society, a panel led by Andrew Sill (BMCC Chairman), David Ng (BMCC Deputy Chairman) and Aurelia Silva (then Executive Director) addressed attending members on the rationale to transition away from operating as a Society under the Registrar of Societies and the Societies Act 1996.

BMCC REBORN 11 June 2018

After 55 years, the time came for the Chamber to embrace this natural transformation to operate more effectively towards achieving greater potential in delivering more versatile and rewarding services for our members.

At the EGM, a voting process was carried out where a favourable majority from the members signalled the dissolution of the Society and thus a rebirth of identity as the British Malaysian Chamber of Commerce Berhad (1280091-P), a Company Limited by Guarantee.

Hari Raya Open House 27 June 2018 The BMCC hosted its inaugural Hari Raya Open House on 27 June 2018, celebrating the end of the Holy month of Ramadan. Over 90 members attended, with a robust mix of new and familiar faces enlivening the evening’s networking with Raya spirit.

BMCC Chairman, Andrew Sill greeted all guests with an opening speech before Suzanne Mooney from The Lost Food Project (TLFP) delivered an eye-opening presentation on the pandemic of food wastage and what businesses can do to support social and environmental sustainability. Students from the Sri KDU International School took the stage to perform a traditional Malay dance.

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2018 Highlights: BMCC Events

BMCC Business Excellence Awards 2018 & 55th Anniversary Gala Dinner 12 July 2018 BMCC hosted its inaugural Business Excellence Awards on 12 July 2018 at the JW Marriott, Kuala Lumpur, in conjunction with the Chamber’s 55th Anniversary. This prestigious event aimed to recognise the very best of British and Malaysian businesses across a range of categories. More than 450 attendees from all industries turned up in their evening best, enlivening the Gala Dinner. Newly appointed Minister of Economic Affairs, YB Dato’ Seri Mohamed Azmin Ali and Minister of International Trade & Investment, YB Darell Leiking were amongst the night’s Guests of Honour alongside British High Commissioner to Malaysia, H.E. Vicki Treadell CMG MVO. The British High Commission, Kuala Lumpur was the supporting organisation. HSBC Malaysia stamped its mark as the event’s title sponsor. Other sponsors included GIH London Chrysalis, CIMA, Eco World International, Petrofac and Allied Pickfords. Official Partners were Royal Selangor, The Edge Malaysia, BFM, ICAEW, British Airways, Aston Martin and Mini Malaysia.

The recipients of the awards were Tesco Stores Malaysia receiving the ‘UK Investor of Year’ in Malaysia award, Shell Malaysia Limited claiming the ‘Investing in People’ award and British Council winning the ‘Diversity Award.’ The ‘Technology & Innovation’ award which was divided into SME and Large Corporate categories were won by The Lost Food Project and Dyson Manufacturing Sdn Bhd respectively.

In the honorary award category, YTL Corporation Berhad was awarded the ‘Malaysian Investor of the Year in the UK.’ The joint venture between Alexander Dennis Limited and Terberg Tractors Malaysia was recognised with the night’s ‘Outstanding UK-Malaysia Partnership’ award and Tan Sri Liew Kee Sin of Eco World International was awarded the ‘UK-Malaysia Business Personality of the Year’ award.

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2018 Highlights: BMCC Events

BMCC-Shell Premier Luncheon: Sustainability in Business 13 August 2018

The BMCC organised a Premier Luncheon, in partnership with Shell Malaysia with the theme “Sustainability in Business”. Newly appointed Deputy Minister of International Trade and Industry, YB Dr. Ong Kian Ming took the centre stage as the keynote speaker sharing his insights on the Government’s direction towards a decentralisation of power in governance and, from a sustainability perspective.

Dr. Cho-Oon Khong, Chief Political Analyst, Shell Scenarios of Royal Dutch Shell was the guest speaker to present on Shell’s Sky Scenario and its potential for an energy system to bring modern energy to the world. The Premier Luncheon series continues to be one of the BMCC’s most successful flagship event, hosting over 60 attendees from various backgrounds. The afternoon concluded with a panel discussion and a Q & A segment.

SST Focus Talk with Royal Malaysian Customs 16 August 2018

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The BMCC held a special Focus Talk with the then Director General of Royal Customs Malaysia, Dato’ Seri Subromaniam Tholasy who shared first-hand insights on the re-implementation of the Sales and Service Tax (SST). In his presentation, Dato’ Seri Subromaniam spoke on what’s new in the proposed thresholds covering various business establishments, the special areas of tax-free zones, tax exemption orders as well as the key compliance requirements of the SST. Following his presentation, Amarjit Singh, Malaysia Tax Leader from EY moderated a discussion and Q&A segment with the over 50 keen and engaged members from diverse sectors. The event ended with a networking session and refreshments.

2018 Highlights: BMCC Events

Chairman’s Luncheon with Tun Musa Hitam 30 August 2018

On 30 August 2018, BMCC Chairman Andrew Sill hosted an exclusive business lunch for new Sterling and Large members of the Chamber with Yang Amat Berbahagia Tun Musa Hitam, BMCC Patron as the Guest of Honour. Tun Musa Hitam was Malaysia’s 5th Deputy Prime Minister from 1981 to1986 and is currently the Chairman of UM Land and the World Islamic Economic Foundation.

BMCC-CIMA: Future of Finance 6 September 2018 BMCC held a networking luncheon with CIMA, the Chartered Institute of Management Accountants on 6 September 2018 to cast a prescient light on how technology will inevitably alter the financial and economic fabric as we know it today.

The luncheon included two charismatic speakers, Venkkat Ramanan (Regional Vice President, Asia Pacific, Association of International Certified Professional Accountants) and Ainol Yaacob (Head of Country and Global Tax Director, GBS Tax Operations, BP Malaysia) who shared their own perspectives on how careers worldwide are heading for a seismic shift in the near future. Held at The Ritz-Carlton Hotel Kuala Lumpur, this luncheon was sponsored by CIMA, a 2018 Silver Sponsor of the BMCC. Over 50 attendees turned up, enjoying the presentations, a 4-course meal and light networking thereafter.

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2018 Highlights: BMCC Events

BMCC Appreciation Night 30 October 2018

To acknowledge the support and collaborations of the Chamber’s esteemed Partners, Sponsors and Sterling Members throughout 2018, the BMCC held its annual Appreciation Night on 30 October 2018.

Over 60 representatives from our most valued member companies were joined by the Chamber’s Board of Directors, along with the night’s honorary guest and long-term Patron, Tun Musa Hitam.

In his welcome speech, BMCC Chairman Andrew Sill pointed out the encouraging growth of last year’s 36 Sterling Members to 45 strong that night. The dinner was enlivened with musical performances by several talented youths and lucky draws with prizes sponsored by Royal Selangor and Four Seasons.

Post Budget 2019 Conference: Economic Outlook & Perspectives 22 November 2018 BMCC hosted its first half-day conference on 22 November 2018 on The Malaysia Budget 2019. The conference was organised in collaboration with the Malaysian French Chamber of Commerce & Industry (MFCCI) and sponsored by Standard Chartered Bank Malaysia, BMCC’s Annual Gold Sponsor 2018. YB Tony Pua, Political Secretary to the Minister of Finance, our keynote speaker delivered a comprehensive and thought-provoking address on the Budget, which he played an instrumental part in its drafting. Amarjeet Singh (Malaysia Tax Leader) and Aaron Bromley (Indirect Tax Partner) from EY presented a detailed analyses of the Budget from a tax perspective.

The session was followed by in-depth panel discussion ensued on private and public sector initiatives between Richard Record (Lead Economist, World Bank Malaysia), Datuk Norazman Ayob (Deputy Sec. Gen, MITI) and Abrar Anwar (CEO, Standard Chartered Bank Malaysia) with Ainol Yaacob (Head of Country Malaysia - Tax & Strategy, BP Malaysia) moderating the session. A full house of over 100 participants attributed to the overall success of the event, with the Q&A sessions and Networking Lunch providing members from the BMCC and MFCCI the opportunity to express matters of real concern to their industries with the panelists.

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2018 Highlights: BMCC Events

BMCC Annual Corporate Christmas Luncheon 7 December 2018

The BMCC wrapped up its final event of the year with our Gold & Silver themed Annual Corporate Christmas Luncheon on 7 December 2018 at JW Marriott KL. This glistening and fun-filled occasion sponsored

by Standard Chartered Bank Malaysia, brought over 350 of our members and guests together to celebrate a busy year gone by. A hearty 4-course meal was accompanied by musical performances from Sunway University, The Alice Smith School and MadAsh, enlivened the boisterous afternoon with Lucky Draws thrown into the mix. Prizes were sponsored by Tesco, Sports Direct, Royal Selangor, The Ritz-Carlton, Grand Millennium, Gentlemen’s Tonic, Avis and Eco Healthy Foodcare Pte Ltd. In this season of giving, guests thoughtfully brought along gifts and supplies for those in need for The Lost Food Project’s Festive Food Drive Campaign.

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2018 Highlights: Working with Other Chambers

WORKING WITH OTHER CHAMBERS BMCC-JACTIM: Speed Networking 3 September 2018

The BMCC’s inter-chamber speed networking series returned, this round in collaboration with The Japanese Chamber of Trade & Industry, Malaysia (JACTIM). Andrew Diamond, BMCC’s Board Director was once more the moderator for over 40 participants from both our British and Japanese business communities as they came together for a fruitful evening of rapid sales pitches and names card exchanges.

BMCC-MABC: Marketing to Millennials 27 September 2018 Joining forces with the Malaysia Australia Business Council (MABC), the BMCC hosted a Talk & Networking Evening on “Marketing to Asian Millennials: How do corporate brands win the battle of minds & hearts.”

The forum discussed marketing trends and strategies towards the current generation of tech savvy youths in a digital age where the traditional models of media and branding are evolving. Over 50 attendees showed up to listen to featured panelists Mark O’Dea, Celebrity and British TV Host, Joanna Soh, Asia’s No. 1 Fitness Youtuber, Winnie Chua, Co-Founder of Policystreet Insurtech and a spokesperson from Google Malaysia.

Moderating the discussion was Desmond Ngai, Senior VP of WebTVAsia.

BMCC-MGCC: Halloween Interchamber Ladies Sundowner 31 October 2018 BMCC was proud to participate once again in the Malaysian German Chamber of Commerce (MGCC) Interchamber Ladies Sundowner that returned for Halloween in October 2018.

The BMCC joined the Malaysian French Chamber of Commerce (CCIFM), the EU Malaysia Chamber of Commerce and Industry (EUMCCI), the Malaysian Australian Chamber of Commerce (MACC), the American Chamber of Commerce (AMCHAM), the New Zealand Chamber of Commerce (NZCC), the Italy Malaysia Business Association (IMBA) and the Malaysian Dutch Business Council (MDBC). Over 30 ladies from across our combined members reach gathered at U-Bar on the 33rd floor of Capri by Fraser Kuala Lumpur.

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2018 Highlights: Industry Advocacy

INDUSTRY ADVOCACY The BMCC continued to strengthen its role in bridging the gap between Government and industry by facilitating dialogues on business topics and issues that are impacting our members and presenting them to relevant policy makers through our Advocacy Working Group and sector based committees.

BMCC 1-to-1 with The Minister of Finance 30 July 2018 As part of the BMCC’s ongoing advocacy efforts, the Chamber, represented by the Advocacy Working Group members met with the Minister of Finance, YB Lim Guan Eng and YB Tony Pua, Political Secretary to the Minister of Finance for a 1-to-1 feedback session on matters relating to the SST and FDI incentives. The meeting was an overall success with the Ministry of Finance invoking the confidence of the business community towards ensuring a transparent economic environment underpinned by good governance in this new era for Malaysia.

BMCC Catches Up with Richard Graham MP 2 August 2018

In what marks his first visit to Malaysia under its new administration, the UK Prime Minister’s Trade Envoy to Malaysia, Richard Graham MP returned for a series of meetings with both government and private sectors in efforts to enhance bilateral trade relations and to substantiate discussions surrounding the CPTPP trade agreement.

Amidst other meetings with the Minister of Economic Affairs and the Ministry of International Trade & Industry, the BMCC hosted a roundtable Q&A session where we shared our ongoing engagements with industry players including its nuances and the current business climate. The meeting was joined by representatives from the World Bank, EY, PwC Malaysia and the BMCC’s Board of Directors.

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2018 Highlights: BMCC Energy Committee

BMCC ENERGY COMMITTEE BMCC Energy Committee has continued to play an influential role in fostering dialogues and engagements between BMCC Members and key players in Energy, Oil&Gas Industry.

Industry Roundtable with PETRONAS 6 August 2018 Under the tutelage of the Committee, the BMCC hosted a high-level private Oil & Gas Industry Roundtable on 6 August 2018 involving industry stakeholders. The roundtable strengthen engagement with key industry players and created a platform to discuss collaboration opportunities between UK and Malaysia. The participants included Energy Committee members, VP Upstream Business of PETRONAS, President of Malaysian Oil & Gas Services Council (MOGSC) and Deputy CEO of Malaysian Petroleum Resources Corporation (MPRC). The roundtable was chaired by H.E. Vicki Treadell, the British High Commissioner to Malaysia and held at the High Commissioner’s residence.

EIC Connect Energy Malaysia 2018 30 October 2018 The BMCC was proud to be an Organising Partner of the EIC Connect Energy Malaysia on 30 October. Organised by the Energy Industries Council (EIC), the event was an overall success with over 200 delegates participating, including 74 British SMEs. Speakers included PETRONAS, Tenaga Nasional Berhad, Serba Dinamik, Sapura Energy, Wood and many more regional operators, developers and OEMs discussing the opportunities for supply chains projects within the energy sector.

Transitioning to Renewables Forum: A New Frontier for Oil & Gas Companies 14 November 2018 The Energy Committee hosted a forum on Transitioning to Renewables with YB Yeo Bee Yin, Minister of Energy, Science, Technology, Environment and Climate Change as the Keynote Speaker. YB Yeo spoke of the government’s current and future plans to make renewable energy more affordable, accessible and sustainable as well as shared the government’s aspiration to committing to affordable renewable energy which will give the country long term stability advantages.

Representing the private sectors, speakers from PETRONAS, Wood and IPSOS shared their perspectives on renewables and the efforts their companies are making towards supporting new energies.

Over 70 participants attended the event which included with a panel discussion, Q&A session and Networking Lunch. This event was organised in collaboration with the Energy Industries Council (EIC).

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2018 Highlights: BMCC Trade Services

BMCC TRADE SERVICES BMCC continued its role as the Overseas Delivery Partner (OPD) for the Department for International Trade, UK in Malaysia, assisting British companies in their efforts to venture into the Malaysian market.

The services offered by the BMCC Trade team include market advisory services, business matching with local partners, facilitation of trade delegations and organising bespoke networking events. Annually, the OPD team receives about 500 referrals and inquires from UK exporters and potential exporters. In 2018, out of these referrals, the team managed to engage with 230 companies through telephone/Skype calls, email correspondences and face-to-face meetings, providing market advice and information. The team was successful in generating GBP32,735 through 12 chargeable projects.

Cambridge Judge Business School: Future of Work in the Age of Technological Disruption 17 August 2018 The BMCC Trade Team organised a bespoke networking event for the Cambridge Judge Business School, attended by CEOs and C-level HR Professionals, to introduce the School’s Executive Education Programme.

Dr. Kishore Sengupta, Director (CEO) of Executive Education led the day’s presentation by sharing insights on the Future of Work in the Age of Technology Disruption.

This was followed by a presentation from Harold Chee, Academic Programme Director of the CJBS Executive Education who explained how, by means of their Executive Education programme, their school thrives in moulding young talents towards becoming market leaders, entrepreneurs, innovators and strategists. The Cambridge Judge Business School offers custom programmes with multinational attachments, such as with Barclays and Astra Zeneca, as well as the public sector including the Government of India and the United Arab Emirates.

Wales Trade Mission to Malaysia Networking Reception 24 September 2018 The BMCC hosted a reception for a delegation comprising of 16 Welsh companies; representing ICT, F&B, Energy, Construction & Infrastructure, Arts & Theatre and Smart Cities. Leading the delegation were Eleanor Harris and Leigh Jacka, Head of Trade and Manager of Trade Missions & Exhibitions respectively from the Welsh Government. The BMCC Trade Team organised a full day programme for the delegation which included a meeting with YB Datuk Darell Leiking, the Minister of International Trade and Industry with market briefings by InvestKL and MDEC. The day ended with a networking reception hosted by BMCC for the delegates, joined by 70 BMCC Members and guests.

The Rt Hon Baroness Rona Fairhead CBE, UK Minister of State for Trade and Export Promotion at the Department for International Trade (DIT) and H.E. Vicki Treadell CMG MVO, British High Commissioner to Malaysia graced the event as Guests of Honour.

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2018 Highlights: Success Stories

SUCCESS STORIES

The BMCC Trade Team is proud to have supported these companies in successfully launching their products in Malaysia.

The Rose Tree The BMCC Trade Team introduced British company The Rose Tree to METROJAYA, local department store in 2017.

This business matching resulted in the launch of the brand in 3 METROJAYA stores in 2018. The Rose Tree is a multiple award-winning British beauty brand with a focus on extraordinary organic products for body and soul.

Its products include luxury organic skincare, body, bath and shower oils, and its natural wax aromatherapy candles. The Rose Tree is the brain child of entrepreneur, Olga Rumble, a former stressed out corporate employee who ditched the daily London commute to turn back to the power and simplicity of natural botanicals to manage her own skincare woes and stress levels. All their products are proudly manufactured in Britain and are now available at Metrojaya outlets (Mid Valley Megamall Kuala Lumpur, The Curve - Selangor and Metrojaya Komtar JBCC – Johor Bahru).

Nimble Babies Nimble responded to an Export Opportunity (EO) posted on the Exporting is Great website by the BMCC Trade Team, seeking organic baby products in 2017. The BMCC team introduced the products to a Malaysian distributor which resulted in 2 of the Nimble products being made available in Malaysia market in 2018.

Founded by Von Sy, Nimble is the UK’s first and only markers of plant-based and child-friendly cleaning products, with a mission to help parents clean up after their children with compromise on safety and performance. Milk Buster is their patented baby bottle cleaner that removes milk residues better than dishwashing liquid and Sticky Stopper is their toy and surface cleaner that kills 99.9% germs without using bleach. All their products are manufactured in the UK and they are now sold in 7 countries including Malaysia.

Naylor Farms

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In early 2018, a Coleslaw Showcase and Networking reception was organised by the BMCC Trade Team at the British High Commissioner’s Residence to promote Naylor’s Farms, a well established food producer to the Malaysian market. Naylors has over 100 years of history in the UK and their own farms growing cabbages in UK which their coleslaw uses. In December 2018, Naylors successfully launched its coleslaw and potato salad in Malaysia and its products are currently sold in premier retailers such as Jaya Grocer, AEON Supermarkets and Jason Foodhall. Naylor Farms has since entered into an agreement with QSR Brands to supply coleslaw for KFC retail chains in Malaysia.

2018 Highlights: Membership

MEMBERSHIP The BMCC membership structure is based on four available categories; (1) Individual, (2) SME, (3) Large and (4) Sterling.

SME members are classified as companies, firms or organisations with a registered address in Malaysia or in the UK that fulfill all the following criteria: 75 maximum number of employees globally, including from the parent company; with a maximum of RM10 million paid-up capital in Malaysia; and a maximum turnover of RM50 million in Malaysia.

Large members are any registered organisation above the SME criteria. Sterling memberships are for organisations who are serious about maximising their branding and exposure by affiliating themselves amongst an elite class of companies.

2018 vs 2017 Membership Composition

by Category 2018 Number of Members Group 1 • Healthcare • Manufacturing • HR Consultancy • Relocation Services Group 2 • Automotive • Food & Beverage • Training Providers • Transportation & Logistics • Aviation • Conference & Exhibition Events Organisers • Government Agency • Retail Services Group 3 • Aerospace & Defence • Arts & Creative • Security Services • BPO & SSC • CSR • Research Agency

2018 Membership Composition by Sector

Group 4 • Agriculture • Plantations • Service Office • Social Media Platform • Trading & Logistics Conglomerate • Waste Management

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Calendar of BMCC Events 2018

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Statement of Financial Position as at 31 December 2018

Statement of Comprehensive Income for the Financial Period From 15 May 2018 (Date of Incorporation) to 31 December 2018

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BRITISH MALAYSIAN CHAMBER OF COMMERCE BERHAD (Company No. 1280091-P) E04C0, 4th Floor East Block Wisma Golden Eagle Realty 142-B Jalan Ampang 50450 Kuala Lumpur T: +603 2163 1784 | E: info@bmcc.org.my | W: www.bmcc.org.my ©BMCC 2 JULY 2019 Follow us @BMCCMalaysia