Yesterday, the Asia Internet Coalition (AIC), an association that represents a number of global technology companies such as Apple, Facebook, Google, Expedia Group, Amazon, Line, LinkedIn and so on, issued a statement showing their dismay at the need for social media licenses in Malaysia.
Less than a day after the statement was published, it has now been deleted and replaced with a new statement. No more statements saying this licensing framework is "unworkable". Instead it was replaced with the statement that this licensing framework would adversely affect innovation by placing an undue burden on business. It will deter ongoing investment and future investment due to the complexity and cost of compliance.
However, the AIC still says changes made without a clear roadmap or industry involvement risk destabilizing an ecosystem that relies on innovation, flexibility and openness. This will have a profound impact on established players, emerging startups, small businesses, and the broader digital economy.
The new statement was published after Grab, which is a member of the AIC, issued their own official statement that disagreed with the original statement.
As you already know, all messaging and social media platforms that have at least 8 million local users need to apply for a social media platform operator's license starting August 1, 2024, and will come into effect on January 1, 2025.