PR Newswire
30 Aug 2023, 08:22 GMT+10
KUALA LUMPUR, Malaysia, Aug. 30, 2023 /PRNewswire/ -- The Malaysia Global Business Forum (MGBF) hosted a high-level industry dialogue themed 'The Two-Wheeler Market - Mobility, ESG and the ASEAN Supply Chain' as part of the Kuala Lumpur Bike Show 2023 (KLBS'23) held at the World Trade Centre Kuala Lumpur (WTC KL).
From left: Gerard Ratnam, TV host and producer of Bernama TV; Farouk Nurish, director of Moventuum Sdn Bhd (organiser of the Kuala Lumpur Bike Show 2023); Rizal Kamaruzzaman, co-chairman of the Malaysia Global Business Forum (MGBF); Dato' Indera Dr Ahmad Sabirin Arshad, FASc, president and group chief executive officer of SIRIM Berhad; Murugason R. Thangaratnam, executive director of Novem ESG Sdn Bhd; and Rob Cayzer, executive director of Yasaar Global and board member and shareholder of Kitaran Tabah. | Photo by MGBF/KLBS'23
During the moderated panel discussion, industry experts shared their insights on the strategic opportunity for Malaysia to be a greater player in the two-wheeler industry in the Association of Southeast Asian Nations (ASEAN) as well as business prospects for Malaysia especially in the context of the regional supply chain.
It was also identified that with technology trends capturing the media narratives, especially as electric vehicles and reduced emissions technology become more commonplace, the trade and investment opportunities are what business leaders need to understand.
The ASEAN two-wheeler market represents at least 25 per cent of the global market and growing exponentially. From urban planning to environmental, social and governance (ESG), the two-wheeler industry can contribute to this trend and ultimately to the nation's economy.
The National Automotive Policy 2020 which projects Malaysia's ambition outward to 2030 mentions motorcycles briefly. This bias towards cars in the policy may need further evaluation as it does not take into consideration the high growth market of the motorcycle market.
Nordin Abdullah, founding chairman of MGBF, said, "We recommend that the National Automotive Policy be more reflective of this opportunity especially because it will allow the SME manufacturers and distributors to play a more integrated role in the ASEAN two-wheeler supply chain. At the same time, with the ASEAN free trade agreements that are in place, the government has already done part of its work."
"Success lies in the nation's ability to be focused and create high value leverage points for investors that compete in a global marketplace. Malaysia must compete and win as an investment destination, and leveraging demands of the two-wheeler industry, this is one sector to pay special attention to," concluded Nordin.
"Another area we identified is the opportunity in education and safety because it is such a huge challenge. If Malaysia can solve this internally, it could be a leader in ASEAN in this critical issue. This can be an area for export of intellectual property. But any solution needs to be tech-based, private sector driven, public sector endorsed and people-friendly especially in terms of cost to consumers," said Rizal Kamaruzzaman, co-chairman of MGBF who delivered the welcoming address at the start of the MGBF Industry Dialogue.
Speakers include Dato' Indera Dr Ahmad Sabirin Arshad, FASc, president and group chief executive officer of SIRIM Berhad; Murugason R. Thangaratnam, executive director of Novem-ESG; and Rob Cayzer, executive director of Yasaar Global and board member and shareholder of Kitaran Tabah. The discussion was moderated by Gerard Ratnam, TV host and producer of Bernama TV. The session included special remarks from the inaugural Kuala Lumpur Bike Show 2023 organiser, Farouk Nurish, who is the director of Moventuum Sdn Bhd.
The Malaysia Global Business Forum (MGBF) empowers stakeholders at the intersection of international and Malaysian business. Through government relations, business intelligence, advocacy, media engagement, market research, networking, advisory and business matching, MGBF delivers results for individuals, corporations, trade and business associations, as well as national and state governments. For more information, visit www.malaysiaglobalbusinessforum.com.
Get a daily dose of Malaysia Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Malaysia Sun.
More InformationBANGKOK, Thailand: This week, Thailand implemented land border restrictions, including a ban on tourists traveling to Cambodia, as...
U.S. President Donald Trump's unpredictable trade policies -- marked by abrupt tariff hikes, temporary suspensions and renewed threats...
By Harshit Bhatia Churachandpur (Manipur) [India], June 28 (ANI): In the mountainous region of Churachandpur in Manipur, tales of...
Jammu (Jammu and Kashmir) [India], June 28 (ANI): The Parliamentary Standing Committee on Personal Public Grievances Law and Justice...
New Delhi [India], June 28 (ANI): BJP MP Nishikant Dubey launched a scathing attack on the Congress on Saturday, terming them the 'assassins'...
Dhaka [Bangladesh], June 28 (ANI): The Bangladesh government on Friday clarified the circumstances surrounding the demolition of a...
DUBAI, U.A.E: Oman is set to introduce a personal income tax as part of its strategy to reduce dependency on hydrocarbon revenues....
NEW YORK, New York - U.S. President Donald Trump dropped a bombshell on Friday announcing he had terminated trade talks with Canada....
Federal officials, then-Governor of Indiana Eric Holcomb, union leaders, company representatives, and dozens of guests assembled at...
NEW YORK CITY, New York: New York City's financial markets reacted sharply this week as shares of local banks and real estate investment...
SEATTLE, Washington: U.S. coffee company Starbucks has said it is not planning to sell all of its business in China, even though a...
NEW YORK, New York - U.S. stocks surged on Thursday, with Wall Street's major indexes climbing nearly 1 percent as investor optimism...