ICC Releases New Anti-Corruption Guide for SMEs

From : International Chamber of Commerce

The International Chamber of Commerce (ICC) has released “Anti-corruption Third Party Due Diligence”, a new guide to help small- and medium-sized enterprises (SMEs) assess and manage corruption risks associated with engaging third party suppliers.

SMEs are often on the receiving end of burdensome due diligence procedures of large multinational companies. These requirements can be overwhelming and often companies feel they do not have sufficient resources to meet them. This new ICC anti-corruption tool addresses these concerns and inspires businesses to engage in due diligence by creating achievable and manageable due diligence goals.

"Corruption hinders economic growth and erodes trust in both businesses and governmental institutions," said Viviane Schiavi, Senior Policy Manager of the ICC Commission on Corporate Responsibility and Anti-corruption, and Co-chair of the B20 Anti-corruption Task Force Training Work Stream.

"It remains a major barrier that impacts businesses negatively by increasing the costs of doing business -especially for SMEs - and undermining the quality of both products and services. SMEs are drivers of economic growth in many economies yet often they need relevant training to do their part for responsible supply chains and sustainable growth."

This indispensable ICC guide addresses SMEs' need for capacity building on integrating global supply chains in an ethical and responsible way. It provides practical advice on how SMEs can cost-effectively conduct due diligence on third parties they engage to perform services on their behalf."

This new anti-corruption tool is a direct response to the Turkish G20 and B20 efforts to implement concrete actions for private sector integrity, especially to empower SMEs in their fight against corrupt activities. It also supports one of the key United Nations Sustainable Development Goals, to be adopted during the UN's General Assembly in September, which will work towards substantially reducing corruption and bribery in all its forms.

ICC has been a pioneer in the business fight against corruption, and is at the forefront of the development of ethics, anti-corruption and corporate responsibility advocacy codes and guidelines. The new guide will complement ICC's robust suite of anti-corruption tools, which includes the Ethics and Compliance Training Handbook .

Click Here to Download The GUIDE 

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DrBiz Forum : Transforming Challenges to Opportunity.

DrBiz Forum : Transforming Challenges to Opportunity. 
Indian Economic Development towards a High Income Economy: Moving Up The Innovation Value Chain.

A forum by well known panel of subject matter experts to discuss Business Opportunities and sectors to look into by Malaysian Indian Businessmen.

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LARGEST GIFT AND HANDICRAFT FAIR DELHI 14-18 OCTOBER 2014

IHGF Delhi fair is amongst Asia’s largest gifts & handicrafts fair, held biannually (Spring & Autumn edition) and is organised by Export Promotion Council for Handicrafts (EPCH).

EPCH, India’s premier export promotion organisation with 7200 member exporters is engaged in trade promotion of handicrafts exports from India. IHGF Delhi fair has been the hallmark for growth of the Indian handicrafts sector for over 20 years.

The most significant and distinct sourcing platform in Asia –(IHGF Delhi fair, Autumn 2014 ), now gets bigger & bolder, bringing you much more of everything – more space, more exhibitors, more sectors, more enhanced facilities, more days and of course, bringing you a thoughtfully re-conceptualized & renewed IHGF Delhi fair with 17 clear product categories in enriched display spaces.

The five power packed days with over 2750 exhibitors, spread over 190,000 sq. Metres area, brings you an entire range of Home, Lifestyle & fashion, with traditional artistic finish in perfect harmony with modern designs & contemporary colours. IHGF Delhi fair is a distinctive business platform for importers, wholesalers, distributors, retailers, fashion designers, potential franchises, mail order companies and a few more to source an unparalleled variety of handicrafts, gifts & lifestyle products, from a cross section of handmade manufacturers from India.

IHGF has carved out its presence in the world market, by offering huge sourcing opportunities to international buyers, agents etc. IHGF Delhi Fair has now become Asia’s “one stop sourcing event”, since its inception in 1994 while providing extended business platform to small & medium exporters. The hallmark of a successful trade event is its ability to bring a platform wherein markets and people come together in an efficient and highly professional manner. IHGF’s organizers – EPCH, strives to better this ability with each successive edition and IHGF Delhi Fair 2014 is a bolder step in this direction.

Extracted from : IHGF Delhi Fair Website and Statement provided by High Commission of India, Malaysia

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LET's MEET UP GET CONNECTED SESSION 31st JULY 2014

Klang Indian Chamber of Commerce jointly with Consortium of Indian Industry(CIIM) in Malaysia organised Let's Meet up Get Connected Session on 31st July 2014. The event was graced by HE Shri T S Thirumurthi, The High Commissioner of India to Malaysia who is also CIIM patron.

Some 60 members from both size participated at the session organised mainly as ICE breaker between Indian Industries in Malaysian and Malaysian Indian Businesses.

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Vietnam E-Commerce Market Still has Opportunities for New Comers

Vietnam E-Commerce Market Still has Opportunities for New Comers

A report of PwC showed that the most popular business models now in Vietnam re e-marketplace and e-retailers.

However, no enterprise is in the dominant position like Amazon in the US or Taobao in China. This can be the great opportunities for the newly arrived businesses to cement their high positions in the potential market.

According to PwC, the total value of the Vietnamese e-commerce market reached $300 million in 2011. Especially, the expected growth rates are very high, at 75 percent per annum in 2011-2015 which would allow the turnover to reach $2.8 billion by 2015.

Vietnam is a country with a young population who have the increasingly high income, possibly reaching $820 by 2015, and are willing to spend money on non-essential goods items.

It is expected that the number of Internet users would rise from 30 million in 2011 to 37 million by 2016, according to BMI. Meanwhile, the rapid development of high-speed Internet services would help Internet users more easily access online shopping services

The report of the Vietnam E-commerce Association (VECOM) showed the strong development of the ways of online transaction B2B and B2C. It also pointed out the higher efficiency in businesses’ email using. 83 percent of businesses got orders via emails, higher than the 70 percent in 2012.

Search engines and e-newspapers continued to be the tool used by most enterprises (43 percent and 40 percent, respectively).

Social networks have also been favored to advertise manufacturers’ and distributors’ websites, while the number of businesses using the tool (37 percent) is nearly equal to the percentage of businesses advertising on e-newspapers.

However, VECOM has noted that 15 percent of businesses still did not use any method to advertise their websites. 12 percent of enterprises join e-trading floors in 2013, of which 33 percent said this brought high efficiency.

According to Nguyen Dac Viet Dung, the owner of Sendo.vn, an e-trading floor, Vietnam has great potentials for the e-commerce development.

“We obtained the high growth rate of over 50 percent a month in the last two months,” Dung said.

“We deliver goods in 53 provinces and cities nationwide, which shows that shopping online has become a consumption habit of the Vietnamese,” he added.

The proverb “early bird can catch the worm” proves to be not absolutely true in the Vietnamese e-commerce market.

Vu Hai Nam, the business director of a web retailer, noted that it is the younger retailers who have great competitive edge in the market, because they can provide new experiences to the people who have got used to hunting for goods online.

He went on to say that new comers always bear the hard pressure because they have to compete with the elder web retailers. However, this allows them to avoid the mistakes the elder retailers once made.

Nam’s website, for example, follows a specific way to develop his business. The website only provides the products with the well known brands, with limited orders.

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COME VISIT KLANG YIWU INTERNATIONAL EXPO

The inaugural KLANG YIWU FRIENDSHIP CITIES INTERNATIONAL COMMODITIES EXPO (KYICE) is the first cooperative effort since Klang and Yiwu became friendship cities. The organizer (KCCCI) hopes that this exhibition can spur the growth of greater cooperations between businesses from both sides and to help explore investment and business opportunities.

OBJECTIVES

The inaugural Klang Yiwu Friendship Cities International Commodities Expo is the first ever trade expo that ties together two friendship cities and it aims to become the fastest growing and biggest trade exhibition of its kind. The organizers hopes to bring together businesses from all walks including dealers, contractors, foreign trade companies, overseas buyers, and more in order to build a efficient platform for the growth in domestic and international trade, and the formation of strong partnerships. This platform will be the link between China and Malaysia businesses to the rest of the world.

OVERVIEW

Yiwu is internationally renowned for its small commodity market and attracts tens of thousands of buyers each year to the city for procurement. Klang is the most important port in Malaysia and one of the key regional shipping hubs. The union between Klang and Yiwu opens up many doors and help both cities take huge steps into the massive international market. We welcome businesses from Yiwu and China to join us and allow us to bring to you this golden business opportunity. Let us work together to tap into this massive Southern Asia market of some 2.2 billion people, let us also work towards moving into the massive emerging markets of Southeast Asia, the 1 billion people market of India and the emerging halal markets of Middle East.

WHY CHOOSE KYICE

• ·         Support the follow-up activities and consolidate the friendship cities relationship between Yiwu and Klang.
• ·         To make this inaugural expo a success and become one of the mainstay events for the region. 
• ·         The expo comes at the right time where many businesses are poised to expand globally with many activities lined up to promote the event.
• ·         Invite targeted exhibitors and associations. Invite transnational corporations, international buyers and chain businesses to come and make purchases.
• ·         Showcase a large variety of products.

TARGETED EXHIBITORS

Invite 200 manufacturers, wholesalers, distributors, chain businesses and service industry companies from Yiwu China and Klang Malaysia to participate as exhibitors.

COVER AREA OF THE EXPO

The Klang Yiwu Friendship Cities International Commodities Expo (KYICE) will cover an area of 4,000 sq meters, with 200 booths. It is expected to attract more than 30,000 visitors.

EXPO HIGHLIGHTS

Ø  Themed areas

To ease navigation through the huge expo grounds, exhibitors will be grouped according to themes such as domestic products, China Yiwu Pavilion, International Pavilion, etc.

Ø  Activities Highlights

Investment, banking, finance, Fengshui, and marketing seminars and summits.

Ø  Themed forum: business and trade talk

With focus on attractive investments and building trade relationship. More than a hundred expert business matchings to be carried out.

Ø  Themed Interaction: Culture interaction

Cultural performance showcasing Malaysia's rich culture will be held during the opening and closing ceremonies, and the event dinner.

EXHIBITION SCOPE

Cultural office supplies, sports and leisure goods, toys and children's products, clothing and fashion accessories, machinery and equipment, industrial raw materials, arts and crafts, daily necessities, jewellery and jewellery accessories, makeup removal, leather bags, hardware, electronics, etc.

SPECIAL HIGHLIGHTS

These key tools for value-added publicity and promotion are included in the participation package:

• ·         Show directory - publish exhibitors info and exhibit products, distribute to the visitors.
• ·         KYICE website links - Buyer can search for more exhibitors' info in KYICE website.
• ·         KYICE/KCCCI e-letter - E-letter preview to showcase exhibitors' products.
• ·         Exhibitors seminars and presentation - Provide effective onsite tool to introduce and market your product. Equipments for use include projector, screen, and sound system.
• ·         Visitor promotion - Organizer will provide exhibitors with the invitation cards (e-version) to assist exhibitors in promoting your participation.
• ·         Pre-arrange business matching sessions - to meet international buyers and pursue new market leads.

for more details visit Expo Website at : http://www.klangyiwu.org/en/

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BUSINESS TALK cum NETWORKING : 22 AUGUST 2013

BUSINESS TALK cum NETWORKING : 22 AUGUST 2013 

DATE     : 22 AUGUST 2013

TIME      : 6.00 PM

VENUE  : KLANG EXECUTIVE CLUB

Proposed itinerary:

6.00 pm   : Business Networking & Introduction of participants business

7.00 pm   : Talk by Guest Speaker 1 - Doing Business with Malaysian Corporate Companies 

                                                           the need and procedures

7.45 pm   : Q & A session 

8.00 pm  :  Talk by Guest Speaker 2 -Doing Business with India : Selling and Buying

8.45 pm  : Q & A Session

9.00 pm  : Business Networking (exchange of business cards)

Speakers :

1) Mr Ras Manikkam, 

   Regional Managing Director of FELDA IFFCO Sdn Bhd

2) Cavalier Dr MS Mathivanan is an industrialist and a renowned educationist. He is an active promoter of textile exports and has vast experience in the global textile trade. He is the first Indian and first non-Christian in the world to receive the grand cross ‘Cavalier’ title at the Royal Palace, Italy bestowed upon him by the Royal Highness, Italy for promoting the rights of Child at United Nations. His credentials include:

• Chairman of Cauvery Hi Tech Weaving Park
•  President of Tamil Powerloom Federation
•  Chairman of Confederation of Indian Weaving Industries
•  Past Chairman of Powerloom Development & Export Promotional Council 
• Former President of Textile Association of India 
• Management Committee of Cotton Advisory Board, Indian Planning Commission, Technology Upgradation Fund Scheme and NIFT, Power Loom Board
• Participated with the Indian Official Delegation to Istanbul, Turkey, Tanzania, Kenya, Russia, Japan.

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BUSINESS MATCHING SESSION

Klang Indian Chamber of Commerce [KICC] plans to organise a Business Matching Session as per details below :

Date     :  Sept 28, 2013
Time     :  9.00 am - 5.00 pm
Venue   :  Klang Executive Club ( tentative)

a)  KICC members
- unlimited trade related matching subject to availability of prospect customer
- RM100.00 for A5 size Full Colour Advertisement on Directory produced specially for the event.

b) Non KICC Members
- RM 300.00 for A5 size Full Colour Advertisement on Directory produced specially for the event
- eligible for unlimited trade related matching (for full paid advertisers).

KICC anticipate some 500 Malaysian companies or businessmen from Klang Valley from all sectors to participate on this event.

Click here for registration form and submit it before dateline.

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SURVEY : REQUESTING 10% BUSINESS OPPORTUNITIES ALLOCATION IS FAIR DEMAND

A survey by Klang Indian Chamber of Commerce[KICC] indicates Malaysian Indian Entrepreneurs in support for our request for Government to allocate 10% Business Opportunities. Some 92% of participation largely Malaysian Indian professionals and businessmen agreed that it's a fair request.

Beside RM500 million grant by Federal Government , KICC is requesting the authority to allocate minimum 10% business opportunities for Malaysian Indian businesses to enable this community reach the 3% national economic equity target by 2020. 

In June 2012, Prime Minister Najib Razak said that Khazanah Nasional and Permodalan Nasional Berhad will work develop GLC Vendor Development Program for Indian business but thus far we haven't heard any such initiatives being taken.

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Banks ‘not keen’ on loans to Indian SMEs

Banks ‘not keen’ on loans to Indian SMEs

from :The Malaysia Reserve

Indian small and medium sized entrepreneurs (SMEs) are finding it tough to tap into a RM130 million Islamic financing facility that was announced by the government nine months ago.

The main reason: Perceived reluctance of Islamic banks on loans probably due to lack of a guarantee from the authorities and perceived weak credit worthiness of the applicants. As of Jan 23, 77 out of 81 applicants for the Shariah-compliant SME financing scheme (SSFS), which is channelled through the Special Secretariat for Empowerment of Indian Entrepreneurs (SEED), were rejected. Only four entrepreneurs received financing worth RM4.4 million.

SEED director Dr AT Kumararajah said the 13 Islamic banks entrusted to disburse the RM130 million special Indian business facilitation fund announced by Prime Minister Datuk Seri Mohd Najib Razak in June 2012, were “not interested” to lend the money to the community as the financial institutions were only looking at the applicants from a “business case” view.

“It's not a special fund for the Indians. The banks are not keen to lend money to Indian entrepreneurs as the money is solely under their discretion. There is no government guarantee to that money,” he told The Malaysian Reserve.

SEED, a special secretariat, which reports directly to Minister in Prime Minister’s Department Datuk Seri G Palanivel, who is also MIC president, is meant to assist the Indian business community to get access to bank loans.

On June 9, 2012, Najib announced various forms of loans worth RM180 million for the Indian community, of which RM130 million was supposed to be channelled through the SSFS, with each of the participating Islamic banks to providing RM10 million worth of loans. This is seen as one of the plans by the government to assist the Indian community.

Aside from the Islamic banks, Malaysian Industrial Development Finance (MIDF) was to provide RM10 million in SME soft loans — RM5 million under the enrichment and enhancement programme meant for business start-ups and microenterprises and RM30 million through the microfinance facility provider under the so-called Tekun Nasional scheme.

Islamic banks that were approached by The Malaysian Reserve declined to comment on the issue.

Dr Kumararajah said 95% of the applications, which went through normal credit evaluation criteria, was at a risk of rejection at the final evaluation process under the scheme.

While stressing that there is no “special treatment” for business proposals which passed through SEED, he said the only incentive in the SSFS scheme was the 2% interest rebate given by the government to the participating banks for their cost of financing. 

“We are looking for a redesigned scheme that would enable the Indian businesses being evaluated on a different basis than a standard evaluation process.

“We understand that there are a lot more that need to be restructured in order for the Indian business community to get preferential access, in terms of funding and that is what we (SEED) are doing now,” he said.

In a step to address these issues, Dr Kumararajah said SEED has prepared a comprehensive memorandum which was submitted by Palanivel to Najib, who is also the finance minister, in a Cabinet meeting last month.

In the memorandum, Dr Kumararajah said SEED has proposed to the government to provide RM130 million directly to the Indian business community which can be managed by designated institutions such as SME Corp.

SEED also wants to work with Bank Negara Malaysia to monitor from “root to tip” the performance of the banks and both the approved and rejected applications by the joint cooperation proposed under the SSFS scheme.

If the above suggestion is not taken into consideration, he said SEED will then propose to the government to come up with a guarantee scheme mechanism whereby the banks still provide the funds, with the guarantee from the government.

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Malaysian Indian Chamber vs Malaysia Chinese Chamber of Commerce

As Klang Indian Chamber of Commerce Executive Secretary and one of the founder, I always encounter " What is the Benefit of Joining an Indian Chamber of Commerce ?" It's not an easy task to responding to Indian business owners.

Recently,  I realize that major different did prevail between the both .  Indian Chamber especially the National level one always bulwark Prime Minister. Check out the Star news report on March 1, 2013.

Here is a news report by the same newspaper on the same date. A National Chinese Chamber clearly define their path being non political. The Chamber further conducted survey to study on business performance and outlook of the economic for years ahead.

The question now : Do we need a Chamber of Commerce that keep pleasing the Prime Minister each an every time or do we need Chamber of Commerce to get it's members business grow and inform Prime Minister issues that may affect our economy.

Share your thoughts here or meet us at TSUNAMI EKONOMI 8th March 2013 , 7.00 pm, Klang.

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