PETALING JAYA: The latest AHK World Business Outlook Fall 2024 Survey conducted among German companies in Malaysia reveals an optimistic forecast for 2025, with positive sentiment about both current conditions and prospects.

The survey highlights key insights reflecting the resilience and growth expectations of German businesses operating in Malaysia.

When asked to assess the current performance of their company, 92% of German businesses in Malaysia report conditions as “good or satisfactory”, which marks a significant increase of 10% compared to the same period last year.

Strong economic development and confidence among German businesses in Malaysia are expected to continue into next year, with 97% of respondents describing the outlook for 2025 as “favourable or stable”.

While Malaysia has always been recognised for its strong economic foundation, this year’s survey results demonstrate a significant boost in confidence, surpassing expectations from last year’s outlook and highlighting the continued resilience of Malaysia’s economy.

Reflecting this confidence, more than 63% of companies expect positive business development over the next 12 months, while 35% anticipate the current stability will be maintained. Only 1.8% predict a decline in performance, showcasing a predominantly positive outlook for the year ahead.

Additionally, four in 10 companies intend to increase investments in the coming year, suggesting a commitment to further growth within the business community.

Employment plans also appear to be promising, with almost half of the German companies in Malaysia indicating plans to ramp up hiring. An equal percentage (47%) intend to retain their current workforce, emphasising a dual approach to growth and stability in human resources.

While the survey paints a generally encouraging outlook for businesses in Malaysia, respondents identified several challenges that could potentially impact their economic development in the coming years.

Survey participants view demand, economic policy conditions, and lack of skilled workers as potential challenges. These insights underscore the need for ongoing vigilance and strategic planning as companies navigate both opportunities and uncertainties in a highly competitive and volatile global market.

Overall, the findings of the survey illustrate a strong confidence among companies in Malaysia, highlighting a positive trajectory for business development and economic growth in the coming year.

Malaysian-German Chamber of Commerce and Industry (MGCC) executive director Jan Noether said, “The results of the AHK World Business Outlook Fall 2024 Survey align perfectly with our expectations for the future of German business in Malaysia. The strong sentiment and optimism reflected in the survey highlight the positive situation we are experiencing here and underscore our confidence in Malaysia’s economic stability and growth prospects. German companies are comfortable and committed to the Malaysian market, with a clear outlook for continued success and expansion in the year ahead. Moreover, Malaysia’s stable economic environment and supportive policies play a key role in stimulating further investment, reinforcing our belief in the country as a reliable and attractive hub for business growth.”

In Malaysia, the survey was conducted between Sept 23 and Oct 16, with 111 respondents from MGCC member companies, comprising mostly German companies with branches or subsidiaries in Malaysia, primarily from the manufacturing, trade, and services sectors.

The survey is part of the broader AHK World Business Outlook, a biannual global research initiative conducted by the German Chamber of Commerce and Industry. It surveys member companies from the network of German chambers of commerce abroad (AHK), which represent more than 40,000 companies in 93 countries.

Volkswagen Group is seeking significant cost reductions as it faces declining demand, rising expenses, and mounting competition. The automaker has proposed a 10 per cent wage reduction for its union employees after IG Metall, the union representing Volkswagen’s workforce, requested a seven per cent raise. This wage cut comes as part of broader measures Volkswagen is considering to address financial difficulties, which include restructuring bonuses and possibly eliminating anniversary and monthly bonuses.

Despite these proposed changes, Volkswagen’s CEO Thomas Schafer has not ruled out more drastic options, such as plant closures, if cost-cutting goals are not met through negotiations. “Successful operations are a prerequisite for job security,” said Arne Meiswinkel, VW’s lead negotiator, highlighting the necessity for lower labour costs to stabilise the company.

Volkswagen reported a steep 42 per cent drop in third-quarter operating profits, and its core brand posted only a two per cent operating margin through September. According to CFO and COO Arno Antlitz, this underscores the need for “significant cost reductions and efficiency gains” to sustain the company’s operations.

Rumours of potential plant closures in Germany have circulated as the company confronts inefficiencies across several domestic sites. Schafer remarked that the issues cannot be resolved by “simple cost-cutting measures,” indicating deeper structural challenges within the automaker’s German manufacturing operations.

Volkswagen and IG Metall will resume negotiations on November 21.

PROTON has unveiled its new S70 R3 race car for the upcoming 2024 Sepang 1000KM (S1K) endurance race, hosted at the Petronas Sepang International Circuit. This addition to Proton’s racing portfolio will compete with two cars, each driven by a pair of seasoned and promising drivers.

Driver Line-up

Car #81: Piloted by Syafiq Ali, a three-time S1K winner, and Fahrizal Hasan, known for his multiple victories in the Sepang 12 Hours endurance race.

Car #82: Driven by two emerging talents, Ariff Azmi, an 18-year-old karting and touring car champion, and Alister Yoong, a 21-year-old Formula 4 racer and son of former F1 driver Alex Yoong.

Spotlight on Alister Yoong

Alister Yoong brings an impressive racing background to Proton’s team:

– Winner of the 2022 Indian Racing League and current championship leader in 2024.

– Notched up four wins in the Italian Sports Prototype Championship (CISP) and two in the French Sports Prototype Championship.

– Head coach at Axle Academy, founded by his father, where he trains up-and-coming racers.

The Race Car: Proton S70 R3

The S70 R3 is equipped with a 1.6-litre naturally aspirated S4PH engine, engineered according to Malaysian Touring Car (MTC) regulations. The team has hinted at a potential expansion next year, considering entry into the Malaysian Championship Series’ SP2 class. This setup and driver mix signal a strong bid from Proton for the 2024 S1K endurance race.

PROTON achieved notable success in October 2024, with total sales of 12,799 units, reflecting a 13.6% increase from September. This brings the year-to-date (YTD) total to 125,557 units, reinforcing the brand’s goal of securing a sixth consecutive year of growth. With a projected market share of 18.1% for October and a YTD share of 18.9%, Proton stands firmly as Malaysia’s second most popular automotive brand.

The automotive industry as a whole rebounded in October, with estimated total industry volume (TIV) reaching 70,668 units, marking the fifth time this year that monthly sales have exceeded 70,000 units.

Key Model Highlights

Proton Saga: Delivering 6,112 units in October, this model’s YTD sales reached 60,178 units, securing its spot as the third highest-selling vehicle in Malaysia. Proton aims for the Saga to surpass 70,000 units by year-end.

Proton X50: Leading the B-segment SUV market, the X50 maintained its popularity with 2,122 units sold in October, showcasing a blend of style, performance, and advanced features.

Proton S70: Regained its position as the top C-segment sedan with 1,432 units sold, boosting its YTD tally to 16,200. The upcoming Proton S70 R3 participation in the Sepang 1000km Endurance Race is expected to further enhance its appeal.

Proton X90: Delivered 245 units in October, holding the top position in the D-segment SUV category with a YTD total of 2,969 units.

Other models also posted solid performances, with the Persona and X70 recording 1,520 and 989 units, respectively, while the Iriz sold 379 units, placing it fourth in the B-segment hatchback category.

Outlook and Strategy

Proton anticipates strong competition in Q4 2024 due to increased market offers from various brands. However, the company remains focused on long-term value by enhancing product quality and customer service through its 157 3S/4S outlets, aiming to preserve residual values amid market challenges.

MALAYSIAN carmaker Proton has taken a significant step toward international expansion with the inauguration of a new completely knocked-down (CKD) plant to assemble the Proton Saga in Cairo, Egypt. The ceremony was officiated by YAB Dato’ Seri Anwar Bin Ibrahim, Malaysia’s Prime Minister, during his official visit to the country.

Prominent figures present at the event included H.E. Lieutenant General Kamel Al-Wazir, Egypt’s Deputy Prime Minister, YB Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz, Malaysia’s Minister of Investment, Trade, and Industry, and YB Dato’ Seri Utama Haji Mohamad bin Haji Hasan, Malaysia’s Minister of Foreign Affairs. Egyptian and Malaysian officials, including H.E. Mr Ragai Tawfik Said Nasr, Ambassador of Egypt to Malaysia, also participated alongside business leaders from both nations.

Strategic Investment in Al Oula Industrial Park

The new CKD facility is located in the Al Oula Industrial Park, Giza, and is operated by Ezz Elarab Elsewedy Automotive Factories (ESAF)—a joint venture between Ezz Elarab and Elsewedy Capital Holding. The plant represents an investment of USD35 million and has a production capacity of 20,000 units per shift. Once fully operational, it is expected to employ up to 400 people.

Proton was represented at the inauguration by Tan Sri Syed Faisal Albar, Chairman, and Roslan Abdullah, Deputy CEO. From ESAF, Hisham Ezz Elarab, Chairman, and Ahmed Elsewedy, Board Member, attended the event.

A Milestone in Bilateral Cooperation

During his speech, Prime Minister Anwar Ibrahim highlighted Proton as a source of national pride and emphasised the importance of partnerships like ESAF in fostering industrial advancement. He urged Proton to leverage local facilities to strengthen its operations in the region.

The factory inauguration comes shortly after the first shipment of CKD packs was sent to Egypt on 9 September 2024. The production of left-hand drive Proton Saga models is set to begin in December 2024, with an initial production target of 1,400 units for 2024. This is projected to increase to 5,000 units in 2025, with a total of 16,000 CKD packs expected to be exported by the end of 2026.

Expanding Beyond Egypt

The vehicles assembled in Egypt will not only cater to the domestic market but also be exported to Northern and Sub-Saharan Africa and Middle Eastern markets. These efforts are part of Proton’s strategy to strengthen its presence in emerging markets where car ownership is on the rise.

The total value of exports from this initiative is estimated at RM570 million, excluding an additional RM20 million projected from parts exports.

Unlocking Global Potential

Tan Sri Syed Faisal Albar remarked that Proton, as Malaysia’s leading vehicle exporter, currently sees exports accounting for 3% of total sales volume. However, the company aims to unlock untapped potential in international markets.

“Egypt is central to our plans for the region. Moving forward, we will focus on partnerships like ESAF to maximize the sales potential for Proton vehicles in regions where car ownership is still growing,” he said.

Future Growth Prospects

The establishment of the Cairo CKD facility marks a pivotal moment in Proton’s international expansion. With plans to explore broader markets and collaborate with strategic partners, the company is poised to enhance Malaysia’s automotive footprint on the global stage.

Flag carrier Philippine Airlines sustained a 55-percent drop in its profit in the nine months to September, dragged by declining passenger revenues and spiking aviation costs.

Earnings of Cosco Capital Inc., the listed retail holding firm of tycoon Lucio Co, increased by 10 percent in the nine months ending September on the back of strong operating performance across all its business segments.

The Department of Trade and Industry probe into the rising influx of imported cement is seen as essential for strengthening the struggling local cement industry that has faced increasing competition from imports.

Philippine Airlines posted a Q3 net income of P789 million, down 82% y/y from its Q3/23 net income of P4,278 million, and down 70% q/q from its Q2/24 net income of P2,590 million.

Jollibee posted a Q3 net income of P2.98 billion, up 18% y/y from its Q3/23 net income of P2.53 billion, and down 6% q/q from its Q2/24 net income of P3.19 billion.

The House of Representatives saw quite a toned-down but more gutsy version of former President Rodrigo Duterte as he refrained from swearing at the House probe into his bloody anti-narcotics campaign.

Edited highlights from the presentations I gave at the WebSearch Academy on 17th October 2016 at the Olympia Conference Centre, London are now available on SlideShare.  They are also available on authorSTREAM. These are selected slides from the presentations; if you attended the event and would like copies of the full sets please contact me. … Continue reading WebSearch Academy presentations – edited highlights →

This posting is for those of you who receive articles from this blog by email, and I am sure that many of you within the EU will have received similar notices from other organisations. On the 25th May the General Data Protection Regulation comes into force and as part of that we need to know … Continue reading Receiving blog postings by email – GDPR →

Edited highlights from my recent workshop on search tools for research information are now available. Please note that not all of the services, search tools, examples or issues covered in the workshop are included in this version. Slides can be viewed on Slideshare  or authorSTREAM. 

Cemu - Wii U Emulator is a highly experimental freeware to emulate Wii U applications on your computer. It isn't an alpha or even a beta, but experimental. [License: Freeware | Requires: 11|10|8|7 | Size: 25-59 MB ]

CCleaner is a freeware system optimization, privacy, and cleaning tool. It removes unused files from your system - allowing Windows to run faster and freeing up valuable hard disk space. Install, uninstall, and toolbar included. [License: Shareware $39.95 | Requires: 11|10|8|7|macOS | Size: 75 MB ]

ProgDVB is a universal multimedia program for watching digital TV and listening to your favorite radio channels. It includes the convenience of PiP (up to eight channels simultaneously) while watching your favorite TV content enabling you to keep up-to-date on another program (like a football game for instance) at the same time. [License: Freeware | Requires: 11|10|8|7 | Size: 44 MB ]

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