Malaysia’s newly tabled Budget 2024, the largest ever to date, has introduced various tax reforms with the aim of spurring economic activity, encouraging new investments and reinvestments, and expanding the Government’s revenue base. The Budget presents holistic measures, complementing newly announced policies such as the National Energy Transition Roadmap, the New Industrial Master Plan 2030, and the Mid-Term Review of the 12th Malaysia Plan.
How will these cohesive policies and the various tax and fiscal reforms affect your businesses, investments, or the nation’s economic landscape? What opportunities will they bring, and what challenges may they pose?
Understanding the Budget’s influence is crucial in making informed decisions, especially for boards. Join our distinguished panel of speakers in the upcoming Budget dialogue as they share their insights on the key highlights of Budget 2024 and the recently announced policies, along with other key trends that may impact your businesses in the coming months.
Please send us your burning questions or the issues you would like to discuss during the session to advocacy@icdm.com.my. Sign up now at www.icdm.com.my.
Programme Agenda
| Time | Topic |
|---|---|
| 9.30 pm | Registration & networking over light refreshment |
| 10.00 am | Context Setting Michele Kythe Lim, President & CEO of ICDM |
| 10.05 am | Presentation: Spotlight on Budget 2024
Farah Rosley, Malaysia Tax Leader, Ernst & Young Tax Consultants Sdn Bhd |
| 10.45 am | Panel Discussion and Dialogue with Attendees: What’s Your Take on the Budget? This dialogue session will be held under the Chatham House Rule. Panellists:
Moderator: Farah Rosley, Malaysia Tax Leader, Ernst & Young Tax Consultants Sdn Bhd |
| 12.00 pm | Session Ends |
Speaker’s Profile
Michele Kythe Lim
President & CEO
ICDM
Michele brings with her leadership and advisory experience on a wide spectrum of corporate governance and boardroom matters that includes board, committees and director effectiveness evaluation, competency development needs, remuneration and succession planning, legal and compliance, and corporate performance. Her passion in developing high-performing people has been the driving force in making her a forward-looking leader in the corporate sector.
Michele was Group Head, Corporate Secretarial and General Counsel for the last five years with IHH Healthcare Berhad, one of the largest listed healthcare providers globally. She oversaw legal, corporate secretarial and governance functions across several jurisdictions such as Singapore, Turkey, India, Asia Pacific, North Asia and the CEEMENA region while keeping watch on local matters.
Some of the key areas she was instrumental on includes mergers and acquisitions, takeovers, joint ventures, corporate schemes, and operational matters. She was also on the Board of Directors on a subsidiary board and Chief Sustainability Officer in charge of sustainability reporting and practices for the Group.
Prior to IHH, Michele spent six years from 2006 to 2012 at Malaysia’s national car manufacturer Proton Holdings Bhd where she held various positions in the Group Legal division, including Chief Legal Counsel. She was also board member of several Proton Holdings Berhad local and foreign subsidiaries and associated companies, member of the Group Management Committee, Management Audit Committee, Group Risk Management Committee, various project steering committees and task forces.
Upon leaving legal practice at Shook Lin & Bok where she specialised in the areas of banking, commercial/corporate, land and tort, Michele joined Pengurusan Danaharta Nasional Bhd in 1998 until 2005 as Assistant General Manager in its Legal Affairs and Risk Division. Here she oversaw negotiations in project conception, acquisitions of syndicated/bilateral domestic and foreign loans, club deals, share sale agreements, and risk participation agreements.
Michele holds a LLB Hons degree from the University of Wales, Aberystwyth, UK (1991) and is a Barrister-at-Law at Middle Temple, London, England. She has been an advocate and solicitor of the High Court of Malaya since October 1993. She completed the Senior Management Development Programme of Harvard Business School in 2009, Professionalism in Directorship Programme by Malaysian Alliance of Corporate Directors (MACD) in 2012 and the NAM Institute for the Empowerment of Women (NIEW) Women Directors’ Training Programme in 2014. Michele is also a licensed company secretary.
Farah Rosley
Malaysia Tax Leader
Ernst & Young Tax Consultants Sdn Bhd
Farah Rosley is the Malaysia Tax Leader at Ernst & Young Tax Consultants Sdn. Bhd. She was also the Past President of the Chartered Tax Institute of Malaysia (CTIM) from 2019 to 2022.
Farah has more than 20 years of experience in managing corporate tax engagements and working with large multinational, public companies across a variety of sectors including services, telecommunications and technology, electronics, infrastructure and utilities, plantations, property development, construction and manufacturing.
She has also advised on special government initiatives and studies on tax matters as well as lent insights into government policies for specific sectors.
During her tenure as President of CTIM, Farah played an active and facilitative role in working with key government stakeholders and the private sector on leading-edge tax decisions and improvements for the nation.
Farah is a firm believer in supporting the next generation of tax professionals and initiated the EY Young Tax Professional of the Year program in Malaysia in 2013 to create awareness of the tax profession and encourage the youth to consider a career in tax.
A regular speaker in national and international tax conferences and seminars, Farah has frequently been invited by the media to provide the latest insights and views on taxation and the relevant policies. Farah has also authored numerous articles and commentaries for various publications.
Pankajkumar A/L Bipinchandra, ICDM
Independent Non-Executive Director
MN Holdings Berhad and OSK Ventures International Berhad
Avid columnist in StarBiz
Pankaj is the Managing Director of Datametrics Research and Information Centre Sdn. Bhd. (DARE), a Malaysian-based think-tank performing research and advocacy for a multitude of topics such as economics and social policy and developing policy recommendations for stakeholders and the Government. He also sits as an Independent Non-Executive Director of MN Holdings Berhad and OSK Ventures International Berhad, both of which are Bursa Malaysia ACE market-listed companies and a member of ICDM.
Pankaj has more than 25 years of experience in investment research, fund management, and corporate strategy. He was formerly the Head of Research of OSK Research, Chief Investment Officer of Kurnia Insurans (M) Bhd, and Director of Investment and Corporate Strategy at KSK Group Bhd.
In addition, Pankaj is also a columnist in StarBiz’s Saturday’s “Inside Insight” and published more than 260 opinion pieces related to the economy, market, and sectors as well on issues related to governance and ethics since June 2018. Pankaj also regularly appears on BFM Morning Run, providing his views on the economy and financial markets.
He holds a Bachelor of Accounting (Hons) degree from University Malaya and completed his MBA (Finance) from the same University in 2014.
Dr Ray Choy
Chief Economist
MARC Ratings Berhad
Dr Ray Choy is Chief Economist at MARC Ratings Bhd. Apart from his pioneering work in Malaysia’s bond markets, Dr Ray’s experience in the global financial markets spans more than two decades, encompassing economic research, funds management, foreign exchange research, commodities research, equities investments, and credit risk ratings. Prior to MARC, Dr Ray headed the research offices of CIMB Banking Group and RHB Banking Group across Southeast Asia, following a leadership role in global funds management.
Throughout his career, Dr Ray received rankings and awards from various organisations and publications such as Alpha Southeast Asia, The Asset, Bond Pricing Agency Malaysia (BPAM), The Edge and Lipper. A columnist for The Edge Weekly, Dr Ray has published articles in top-tier, peer-reviewed journals and authored a book titled “Essays in Bond Market Economics”. In addition, he is a corporate trainer, an adjunct academic at Monash University and is on the Directors’ Registry and Affiliate of the Institute of Corporate Directors Malaysia (ICDM).
Dr Ray holds a Bachelor of Arts in Business and Finance with Distinction from Heriot-Watt University, a Bachelor of Science in Politics and International Relations with 1st Class Honours from the University of London (LSE), a Master of Science in Finance (Economic Policy) from the University of London (SOAS) and a PhD focusing on sovereign credit ratings from the University of Nottingham.
Pauline Goh, ICDM
Representing several Chamber of Commerce
Pauline started her career with Alcatel/Alcatel-Lucent where she had 19 years of experience in the telecommunications industry holding multiple leadership positions prior to joining InvestKL Corporation in April 2012.
In InvestKL, Pauline has contributed immensely to the success to meet their 2020 objective of attracting 100 MNCs to setup their regional hub in Greater Kuala Lumpur.
Pauline was the GM of MAREA (Malaysian Recycling Alliance Responsibility) from Feb 2021 until Dec 2022 to push for post Consumer Packaging Waste Recycling in Malaysia via Voluntary EPR (Extended Producer Responsibility).
She received the recognition of ‘Chevalier de l’Ordre National du Mérite’ from the French President in March 2023 for her contribution in Alcatel-Lucent for 19 years as well as promoting investment from France to Malaysia during her tenure in InvestKL.
Pauline joined the Institute of Corporate Directors Malaysia (ICDM) as Ordinary Member in July 2023 to embark on Corporate Board positions.
Pauline is the President of Alliance Française de Penang (AFP), Vice Chairman of Swiss Malaysian Chamber of Commerce (SMCC), Vice President of Belgium-Luxembourg Chamber (BeLuxCham), Vice President of The Chinese Chamber of Commerce and Industry of Serdang Selangor (SSCCCI), Board Member of Malaysian French Chamber of Commerce and Industry (CCIFM), Board Member of Eurocham, as well as Member of Industry Advisory Board of Sunway Business School, Sunway University.
Pauline graduated from USM, Penang in BSc Hon Computer Science in 1993
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