Could you provide an overview of Dow’s operations in Malaysia?

Dow Malaysia serves as a sales office and plays a crucial role in connecting with our strategic customers in the packaging, infrastructure, mobility, and consumer markets.

How is Dow Malaysia addressing global challenges like inflation and slower demand?

Inflation affects the entire industry, but Dow Malaysia is well-positioned to mitigate its impact. We maintain a strong cash position and our financial health allows us to remain resilient in the face of market threats. We prioritize wise spending and strategic investments to maximize returns. In the current environment, we carefully select the markets in which we participate.

We are aware of potential challenges stemming from the Ukraine conflict and the energy crisis. The global supply chain, energy crisis, and inflation are interconnected, and every country is grappling with inflation, which can dampen consumer spending.

As a leading materials science company, we are prepared to respond swiftly when the situation improves. The reopening of China after COVID-19 provides a silver lining for potential growth spillover.

How does Malaysia fare as a destination for chemical players?

Malaysia offers numerous opportunities for chemical investors, thanks to its pro-business environment. Despite changes in the government over the past few years, each administration has been supportive of business initiatives. Malaysia boasts excellent infrastructure for various sub-sectors, such as electronics in Penang and petrochemicals in Johor. The country’s multiracial society contributes to a diverse and multilingual talent pool, fostered by a strong education system up to the university level. Additionally, the competitive labor market drives talent development, and a reliable legal system enhances business confidence.

However, competition from neighboring countries poses a constant challenge. Frequent changes in government have led to periods of instability and policy inconsistency. Nevertheless, the investment community views the current unity government positively, and we anticipate more stability moving forward.

What is your perspective on the role of collaborations in the chemical sector for decarbonization?

Achieving real change in decarbonization necessitates collaboration across the value chain. Contributions to decarbonization can take various forms, including scope 1, scope 2, and scope 3 actions. When the entire value chain is committed to decarbonization, organizations find ways to integrate it within their operations, working together with customers, suppliers, and other business partners.

An illustrative example of collaboration is our partnership with leading environmental NGO EcoKnights and one of Malaysia’s largest textile recyclers, LifeLine Clothing. Together, we constructed a playground made from recycled shoe materials at Sekolah Kebangsaan Bukit Tadom school in October 2022.

Dow Malaysia is actively promoting diversity and inclusion. Can you share more about your initiatives?

We have been actively collaborating with the broader community to raise awareness and promote diversity and inclusion. One notable initiative is our partnership with the National Autism Society of Malaysia (NASOM) to establish the National Autism Resource Center (NARC) at UiTM Shah Alam. This center is available for the entire autism community. We have also partnered with other NGOs, such as HOPE Worldwide, to establish urban farms that encourage self-sustenance among underprivileged families. Our approach focuses on empowering communities by teaching them sustainable practices rather than simply providing assistance. This initiative combines inclusion with sustainability as the community learns to grow their own vegetables and source fish in a climate-friendly manner, ultimately reducing CO2 emissions.

Any final message?

Looking ahead, both personally and on behalf of Dow, our long-term aspiration is to prioritize decarbonization. Dow has announced an ambitious plan to achieve carbon neutrality by 2050. We aim to grow our business while contributing to sustainability. In the short term, we remain focused on cash flow and profitability to position ourselves for growth when the market rebounds. I firmly believe that the market will experience a robust recovery once inflationary pressures subside, and the Malaysian chemical sector is well-positioned to support the country’s GDP growth.