HOTEL ISTANA, KUALA LUMPUR 18 M ARCH 2019 [Salutations]
Yang Berusaha Tuan Al-Ishsal Ishak
Chairman, MCMC
Datuk Seri Azman Ujang
Chairman, Bernama
Tuan Rosmahyuddin Baharuddin
Deputy Director-General, Malaysian Personal Data Protection Department (JPDP)
Distinguished speakers
Honourable guests
Members of the media
Ladies and Gentlemen.
A very Good Morning and Salam Harapan.
1. First and foremost, let me welcome everyone to the EU
GDPR Conference 2019. I am honoured to be here today and my sincere gratitude to the conference organizers who have invited me to deliver the keynote address and officiate the Conference.
2. I would also like to congratulate the organizers and partners
who have taken the initiative to organise this Conference. I was made to understand that this is the first Conference, of this scale ever held in Malaysia to discuss and deliberate on the implementation of the European Union General Data Protection Regulations (EU GDPR), and other emerging issues related to personal data protection.
3. In today’s digital world, data is like Infinity stones –
invaluable and powerful. Hence, those who hold data have the ability to control key sources of revenue and market power. If we look at the current scenario today, the increasing flow of data and information now generate more economic value than the global goods trade. 4. I quote from McKinsey Global Institute Report entitled Digital Globalization: The New Era of Global Flows:
"Remarkably, digital flows -- which were practically non-
existent 15 years ago -- exert a larger impact on GDP growth than the centuries-old trade in goods."
5. As businesses becomes more globalised, it is impractical to
impose geo-restriction of data flows. Therefore, in line with the development of personal data protection laws globally, industries need to strengthen their compliance in personal data governance matters.
6. The situation requires companies to adhere to the Personal
Data Protection principles and regulations to ensure sustainability of businesses as customers need to have the confidence and trust in the business entities. Customer’s trust and confidence is the basis for successful business.
7. With the implementation of the EU General Data Protection
Regulation (EU GDPR), it definitely requires comprehensive changes to business practices for companies that had not implemented a comparable level of privacy laws on data protection. 8. Malaysia is quite fortunate to have in place comprehensive laws on personal data protection, namely the Personal Data Protection Act 2010 (PDPA). It establishes duties throughout the personal data operational system of an organisation for the personal data it holds or controls including specific rules relating to the processing, retention, security and disclosure of personal data as well as access and correction respectively.
9. The GDPR, however imposes additional requirements
which are not under our PDPA. Nevertheless, multinational companies and GLCs who have business dealings in the EU and with EU citizens, are required to take the necessary steps to comply with GDPR. As for industry players, especially data users who have made preparations with regard to the PDPA, they are therefore be positioned to embrace the GDPR.
10. The Ministry of Communications and Multimedia, through
the Department of Personal Data Protection, is in the midst of reviewing the PDPA. The review will be premised on the needs for effective and efficient implementation of PDPA, as well as to streamline with international requirements on personal data protection. 11. I hope with this Conference, our industry players will have a better understanding on the need for laws to protect themselves, and take this opportunity to get a better perspective on looking at laws which govern data not as stumbling blocks to doing business, but rather as enablers to ensure the sustainability businesses as customers need to have confidence and trust in business entities.
And on that note, I declare this Conference officially open.