Latest news with #ASEANBusinessCommunityDevelopmentForum
The Sun
6 days ago
- Business
- The Sun
WTCKL wins Industry Outstanding Award for business events excellence
KUALA LUMPUR: World Trade Centre Kuala Lumpur (WTCKL) has been awarded the Industry Outstanding Award (Service) by the Federation of Malaysian Business Associations (FMBA). The recognition highlights WTCKL's dedication to excellence in the business events sector during the Malaysia Industry Award 2025 (MINDA 2025). Group managing director Datuk Seri Irmohizam Ibrahim stated that the award underscores the centre's commitment to innovation and client-focused experiences. 'We are deeply honoured to receive this prestigious award, which not only recognises our team's unwavering commitment to service excellence but also defines WTCKL's prominent role as a pioneer in Malaysia's convention centre landscape,' he said. MINDA 2025 was held alongside the ASEAN Business Community Development Forum and ASEAN Business Networking Minds. - Bernama
The Sun
07-08-2025
- Business
- The Sun
Malaysian firms must be indispensable to compete globally amid tariffs
KUALA LUMPUR: Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz has urged Malaysian businesses, including SMEs, to strengthen their global competitiveness to overcome trade barriers like tariffs. He emphasised the need for firms to become indispensable by expanding overseas and making their products essential in global supply chains. Speaking at the ASEAN Business Community Development Forum, Tengku Zafrul highlighted the importance of adopting advanced technology and improving efficiency. He noted that reliance solely on the domestic market would hinder Malaysia's ability to produce globally competitive firms. 'If your product is a necessity and competitive enough, tariffs won't stop buyers,' he said, referencing recent U.S. tariffs on Malaysian goods. Tengku Zafrul stressed that companies must invest in R&D, talent, and innovation to remain relevant in an increasingly protectionist global market. He pointed out that Malaysia's SME productivity lags behind regional peers like Vietnam and Thailand, urging immediate improvements. The minister also called for better utilisation of free trade agreements to access new markets and reduce dependency on a single economy. 'We must push SMEs to expand beyond Malaysia and seize new opportunities,' he added. - Bernama
