08/07/2025

BIZ & FINANCE TUESDAY | JULY 8, 2025

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German firms in Malaysia remain strongly optimistic

Over RM7.5m in business email scam losses since 2023: Kaspersky

KUALA LUMPUR: Malaysia recorded over RM7.5 million in losses due to business email compromise (BEC) scams between 2023 and the first half of 2025, according to Kaspersky. In a statement yesterday, the global cyber security and digital privacy company reported that Malaysia also recorded 64,778 phishing attempts targeting local companies, averaging more than 5,300 incidents per month in 2024 – the third highest in Southeast Asia, behind Thailand (247,560) and Indonesia (85,908). “While BEC attacks may start with phishing to compromise an email account, the follow-up attack takes a different form – it relies heavily on social engineering to bypass technical defences and exploit human trust. “Cyber criminals often study their targets in advance, craft convincing emails that prompt recipients to transfer funds, send sensitive data or buy gift cards that contain no suspicious links or malware, making them easier to mistake as legitimate instructions from a chief executive officer, vendor or colleague,” it said. Kaspersky also noted that local headlines in recent years have highlighted reported BEC cases that have proven financially devastating, with losses per incident ranging from RM250,000 to RM6.2 million, affecting victims from various sectors, including logistics, manufacturing and kitchenware. Its managing director for Asia-Pacific, Adrian Hia, said the real danger of BEC scams lies in their simplicity - just well-timed emails designed to exploit trust, routine and a moment of human error. “Cybersecurity today must go beyond detection; it is about anticipation, helping businesses to spot the unusual in what seems normal and helping their stakeholders build cybersecurity habits that hold up under pressure,” he said. To avoid falling victim to BEC scams, Kaspersky advised using strong, unique passwords, enabling two-factor authentication, investing in security tools with anti-BEC features, training staff to spot social engineering, limiting the public exposure of company hierarchies and key staff contacts, and always verifying suspicious emails through a separate com munication channel. – Bernama BNM’s international reserves rise to US$120.6b at end-June KUALA LUMPUR: The international reserves of Bank Negara Malaysia (BNM) rose to US$120.6 billion (RM511.46 billion) as of June 30, up from US$119.9 billion recorded on June 13. The reserves position is sufficient to finance 4.8 months of imports of goods and services, and is 0.9 times the total short-term external debt. The main components of the reserves were foreign currency reserves (US$107.0 billion), the International Monetary Fund reserve position (US$1.3 billion), special drawing rights or SDR (US$5.9 billion), gold (US$4.1 billion) and other reserve assets (US$2.3 billion). Total assets amounted to RM607.31 billion, comprising gold and foreign exchange and other reserves, including SDRs (RM510.06 billion), Malaysian government papers (RM13.27 billion), deposits with financial institutions (RM6.83 million), loans and advances (RM27.26 billion), land and buildings (RM4.58 billion), and other assets (RM45.31 billion). Total capital and liabilities amounted to RM607.31 billion, comprising paid-up capital (RM100 million), reserves (RM189.55 billion), currency in circulation (RM171.82 billion), deposits by financial institutions (RM122.23 billion), federal government deposits (RM7.07 billion), other deposits (RM75.78 billion), Bank Negara papers (RM10.06 billion), allocation of SDR (RM27.78 billion), and other liabilities (RM2.92 billion). – Bernama

trade barriers and conflicts (66%), global economic fragmentation (51%), as well as inflationary pressures and tightening monetary policy frameworks (36%). The survey also revealed concerns over the impact of the recent US trade tariffs, with 38% of companies anticipating a minor impact on local operations and 20.4% citing a major impact, largely due to expected increases in input costs, shifts in consumer behaviour, and reduced export demand. Interestingly, 36% of respondents said the tariffs would have no impact, with some noting potential opportunities for Malaysian based operations to fill emerging supply chain gaps. Despite the global uncertainty, investment sentiment remains strong. A total of 68% of companies plan to either maintain or increase their local investments over the next 12 months – a testament to Malaysia’s strategic value and growth potential in regional and global supply chains. Hiring trends also reflect a stable employment outlook: 40% plan to increase hiring while 53% intend to maintain current workforce levels. This reflects a 6% improvement in overall job stability com pared to 2024. In Malaysia, the survey was conducted between March 17, 2025 – April 15, 2025, with 104 respondents from MGCC member companies, comprising mostly German companies with branches or subsidiaries in Malaysia, primarily from the manufacturing, trade, and services sectors, The AHK network is supported by the German Ministry of Economic Affairs and Climate Action

o Survey reveals that 91% rate their current business situation as ‘good’ or ‘satisfactory’ despite volatile global economic landscape.

PETALING JAYA: German companies operating in Malaysia remain highly con fident in the country’s business environment,

tempered expectations amid ongoing global headwinds. “Despite a complex and evolving global landscape marked by geopolitical tensions, shifting trade policies and economic uncertainty, German com panies in Malaysia remain strongly optimistic about the country’s long term prospects. These results reaffirm Malaysia’s position as a strategic business and logistics hub in Southeast Asia – underpinned by its stable infra structure, competitive cost structure, skilled and multilingual workforce and strong bilateral relations with Germany and the broader EU. “As companies seek resilient, future-ready markets to grow and invest in, Malaysia continues to stand out as a reliable and attractive destination for German businesses across various sectors,” said MGCC executive director Jan Noether ( pic) . While the overall outlook remains positive, survey respondents also highlighted several areas that warrant attention moving forward. These include demand uncertainty (59.8%), economic policy conditions (46.1%), and regulatory considerations such as preferences for local firms (43.1%). These insights reflect the complexities of operating in a dynamic economic environment and underscore the importance of continued dialogue, policy clarity, and adaptive business strategies to ensure sustained growth and competi tiveness. Globally, companies identified key long term risks over the next five years, including

according to the latest World Business Outlook Spring 2025 Survey conducted by the Malaysian-German Chamber of Commerce and Industry (MGCC). The survey reveals that 91% of German businesses rate their current business situation in Malaysia as “good” or “satisfactory”, underscoring sustained optimism despite a volatile global economic landscape.

The biannual survey, part of a global initiative by the German Chambers of Commerce Abroad (AHK), captures the outlook of German businesses in over 90 countries. This latest edition reflects a growing sense of resilience, with 93% of respondents expecting business conditions in Malaysia to remain the same or improve over the next 12 months – a 30% increase compared to 2024. This jump signals a rebound in sentiment and renewed trust in Malaysia’s position as a stable and attractive business destination. While optimism is strong, businesses remain alert to global risks. Geopolitical tensions, ongoing supply chain disruptions, and uneven economic recoveries continue to create uncertainty worldwide. In this context, 85% of companies in Malaysia view the local economic outlook as stable or favourable, although this marks a 12% decline from the previous year, indicating PETALING JAYA: Proton has closed its books for the first six months of the year with an increased share of the Malaysian automotive market. Group sales in June amounted to 11,069 units, a slight increase over the same month in 2024, while total year-to-date (YTD) sales totalled 72,156 units, the second highest in the industry. Market share for the month is estimated to be at 20.7%, an increase of 1.1% over the previous month and 1.2% ahead of the YTD figure of 19.5%. Conversely, total industry volume (TIV) is estimated to have closed at 53,500 units in June, a reduction of 21% compared to the TIV figure of 68,007 in May. One of the constants for Proton’s sales performance has been the strong performance of its B-segment SUV model, the Proton X50. Launched in October 2020, over 140,000 units have been sold in Malaysia and overseas markets, firmly cementing its position as the sales in its class for five years in a row. For June 2025, 1,657 units of the Proton X50 were sold, keeping it ahead of all competitors in the class. The total includes 353 units for the export market where the model accounts for 47% of the company’s total export volume. For the first half of the year 11,361 units have been sold, marking an increase of 11.3% over the first six months of 2024. While sales of the current model remain strong, Proton is

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 of AHK, which represent more than 40,000 companies in 93 countries. Proton ends H1’25 with increased market share

Proton S70 continued to lead the C-segment sedan for the first half of 2025. launching an all-new Proton X50 this month. Depressed market conditions in June

June due to external factors such as rising tensions in the Middle East and the expansion of the scope of SST affecting buyer sentiment. Despite this, Proton managed to outperform the market to increase our market share percentage ahead of a busy second half of the year where we have a full slate of events and model introductions. “With new models arriving in our showrooms, the outlook is for the company to have a stronger second half to 2025 as we seek to increase sales for our ICE and EV offerings,” said Proton Edar deputy CEO Zhang Qiang.

resulted in lower sales compared to May but there were three Proton models that ended the month as segment leaders. One of these was the Proton X50 while the other two were the Proton X90 and Proton S70, which continued to lead the D-segment SUV and C segment sedan markets, respectively. The model with the highest sales growth figure for the first half of 2025 is the Proton X70. “After performing strongly in May, automotive sales dropped by 15,000 units in