KUALA LUMPUR, Malaysia, June 23, 2022 /PRNewswire/ — Malaysia Global Business Forum (MGBF) ties up with scoutAsia to ensure that businesses are equipped with deeper regional insights. The past two years has seen a massive shift in the way businesses are conducted with digitisation, digitalisation and automation continuously being adopted to improve productivity and efficiency. In this paradigm shift where data is king, business intelligence (BI) and business analytics are essential for data-driven decision-making.
Business intelligence or the lack of business intelligence has been identified as a key threat to sustainable recovery in both the small- and medium-enterprise (SME) sector and for multinational organisations operating in Asia. An area that has seen a considerable uptrend in this space is regulatory compliance around sanctions and shifts in trade arrangements based on free trade agreements (FTAs) like the Regional Comprehensive Economic Partnership (RCEP).
According to scoutAsia, over the first two weeks of June, an analysis of media attention in South East Asia to the issue of food supply, particularly the supply of chicken, revealed that Malaysia and Singapore were ranked first and second respectively, with Indonesia coming in third. On this issue, Malaysia and Singapore represented more than 50 per cent of all media attention across the region. This is a prime example of what can be achieved with media intelligence.
"The Malaysia Global Business Forum (MGBF) creates a multiplier effect in terms of engagement within the business community in Malaysia. It is our intention to ensure that members and strategic partners of MGBF are armed with the right tools to make informed decisions," said Sachvinder Singh, Director of scoutAsia and Handshakes.
"The ultimate goal of this relationship is to ensure that corporations operating in Malaysia are armed with critical business intelligence. At the same time, scoutAsia allows those companies with an ASEAN or Asian footprint a cost-effective way to learn more about broader markets," concluded Sachvinder Singh, who is also a Director of Handshakes a component of the scoutAsia suite of technology offerings.
Nordin Abdullah, Founding Chairman of the Malaysia Global Business Forum, said, "scoutAsia enables businesses to uncover innovations within different sectors and understand the performance of their competitors while finding more probable partnerships. In terms of information and knowledge gaps, scoutAsia can play a role in keeping leaders ahead of the curve especially as we look at impacts of sanctions and regulatory changes on multiple supply chains."
"This tie-up with scoutAsia allows us to continue down the path of a data-driven platform at the intersection between the corporate sector, the governments, and the media. This convergence has never been so critical to businesses operating in multiple jurisdictions. Those companies that can manage change at the strategic level will be well positioned to remain resilient moving forward," continued Nordin, an Australian businessman who has over 30 years of business experience in Asia.
The Malaysia Global Business Forum will be hosting a roundtable on "Charting the Future of Data Resilience" on 5 July 2022 in Kuala Lumpur. For more information, visit www.malaysiaglobalbusinessforum.com.
scoutAsia is an Asia-focused news and company data platform, jointly developed by Nikkei & the Financial Times in 2018 with the ultimate aim of enabling customers towards better and more informed decisions. Combining quality content and technologies, scoutAsia provides AI-driven insights on what is changing in Asian business today. Singapore-based Handshakes by DC Frontiers came on board in 2019 to power the platform with its award-winning AI technologies. For more information about scoutAsia, visit https://www.scout.asia/.
ABOUT MALAYSIA GLOBAL BUSINESS FORUM
The Malaysia Global Business Forum (MGBF) was established more than 10 years ago to empower 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. The overall objective of the MGBF is to empower business for people, planet and profit consistent with the United Nations’ Sustainable Development Goals (SDGs) through inward, outward and intra-Malaysia business activities in line with the Malaysian government’s core strategic objectives for development.