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Universiti Tunku Abdul Rahman Form Title : Event Report Form for Centre for Community Outreach Form Number : FM-DSSC-CCO-018 Rev No: 1 Effective Date: 15-08-2016 Page No: 1 of 1 Centre for Community Outreach (CCO) Event Report Form Community Project Name: Seminar: Financial Planning and Risk Management Seminar Date : 26th of October 2016 Time : 9.15AM – 3.30PM Venue : KAG01, KA Block Number of student involved : NA Number of community involved : 48 Description of the event: Morning Session: Financial Planning 9:15AM - 9:45am Title: Financial Planning Process Speaker: Ms.Chung Chay Yoke (Shirley) 10.00AM -12.15 noon Title: Entering the Workforce Keynote speaker: Ms.Janice Lee, AKPK (Agensi Kaunseling dan Pengurusan Kredit, BNM or Counselling Agency and Credit Management, Central Bank of Malaysia) Afternoon Session: Risk Management 2:00PM - 2:30PM Title: The Effects of Critical Success Factors in Implementing Global Value Chains: A case of Small and Medium Enterprises in Malaysia Presenters: Ms.Ooi Bee Chen (Crystal) and Ms.Tiong Kui Ming 2.30PM - 3.00PM Title: Factors Affecting Life Insurance Consumption Presenter: Ms.Lee Hui Shan 3.00PM - 3.30PM Title: Green Bond and Shareholders’ Wealth: A Multi-Country Event Study Presenter: Ms.Siti Nurhidayah Participants for morning session: Event report CCO Forms Jan 2015 Universiti Tunku Abdul Rahman Form Title : Event Report Form for Centre for Community Outreach Form Number : FM-DSSC-CCO-018 Rev No: 1 Effective Date: 15-08-2016 Page No: 1 of 1 What was the seminar about? To deliver the awareness and importance of financial planning process as well as the risk management tools and techniques for all stakeholders and business entities, recognizing the financial and operational risk faced by Malaysian businesses in the current fast-changing, unpredictable global business environment. Also, recognizing the current bankruptcy trends, forces, techniques and strategies used to mitigate various types of risk for individual and for business sustainability by large. Memorable Information and Knowledge Delivery: (a) Presentation Title: Financial Planning Process Speaker: Ms.Chung Chay Yoke (Shirley) Survey conducted by Asian Institute of Finance (AIF) in 2015, 38% of Gen Ys are living in high cost of borrowing, while 47% are engaged in expensive credit card borrowings. Malaysians have the most debt borrowing in Asia. Financial Planning views as a long term sustainable strategy for each individual, aims to secure a safe and sound financial future, considering all the aspects of personal financial situation and risk tolerance levels. Common types of financial planning: Purchasing long-term fixed assets (cars, home, properties), financing own or child’s education, financing for own retirement, creating inheritance for beneficiaries (estate planning), establishing ‘Financial safety net’ to shelter against unexpected expenses, disasters or changes in life-style. Basic steps involved in financial planning process: 1. Setting financial goals – setting short, medium and long term plans, rank the personal goals and objectives based on priorities and constraints; 2. Determining your current financial situation – calculate the net worth of assets holding; 3. Calculate your monthly budget – determine the sources of active and passive income, written down all the expenses, review and update personal budget frequently; 4. Saving your money – cultivate saving habits, save money gradually, avoid non-essential spending, insured properly via health or medical insurance, life insurance, general insurance (motor, personal accidents, etc.); 5. Investing your money and constructing an investment portfolio – invest in short term (saving account, fixed deposits) or long term (stocks, bonds, mutual funds or unit trusts, real estate) based on personal financial goals and risk preferences; 6. Comparing, verifying the information accuracy before making any financial decisions – estimating the overall budget by incorporating all the costs, taxes, fees, maintenance fees, down payments, repayments and other concern such as saved methods, holding power, worst case scenario, and time horizon in investing. Always spend times for thinking before investing. Be more cautions with the use of credit facilities. Avoid overused of credit cards which may incur a higher financing charges. Paying off high-interest debt at Event report CCO Forms Jan 2015 Universiti Tunku Abdul Rahman Form Title : Event Report Form for Centre for Community Outreach Form Number : FM-DSSC-CCO-018 - Rev No: 1 Effective Date: 15-08-2016 Page No: 1 of 1 soonest possible. Clear off the bad records in CCRIS/CTOS, at least 12 months before getting a housing loan. Seek for advice when necessary from the counseling agency such as AKPK, or the banks. Seeking for more opinions to restructure your loans and searching for other refinancing facilities. (b) Presentation Title: Entering the Workforce Keynote speaker: Ms.Janice Lee, from AKPK (Agensi Kaunseling dan Pengurusan Kredit, BNM or Counselling Agency and Credit Management, Central Bank of Malaysia) Facts and statistics shown from bankruptcy notice – (estimate) 89 filed petition and 72 citizen are declared bankrupt on each day in 2014. 130,772 bankruptcy cases are reported from the year 2007 until April, 2014. Major bankruptcy cases in 2014 are attributed mostly from the car loans (26.69%), followed by the housing loans (17.95%) and personal loans (15.91%), and mostly attributable to male (about 70%) and youngsters (age 25 to 34, article from TheStar newspaper: Becoming bankrupt before 35). Importance of savings and cash flow management: Identifying the sources of both active and passive income. Realizing personal spending patterns or issues from fixed, variable and other discretionary expenses. Preparing the cash budget in more frequent and efficient manner, advisable to prepare and monitor personal weekly budget and expenses. Enforcement of ‘save first before you spend’, make savings a personal challenge and cultivating a good saving habit like small ants. Importance of insurance protection and planning for uncertainties. The significance of insurance (health or medical insurance, life insurance, general insurance - motor, personal accidents, etc.) or Takaful (Family Takaful, General Takaful) as a mechanism that helps to reduce the impact and effect of adverse situations. Recognizing high risks taking will compensate with higher returns from the Investment Pyramid and risk preferences (most liquid and lowest risk: Cash Holdings; least liquid and highest risk: Shares and derivative instruments). Get rid of the “Get Rich Quick’ Scheme and verifying other financial scams from BNMLink, Securities Commission Malaysia and Ministry of Domestic Trade, Cooperatives and Consumerism. Acknowledge the rules of borrowing: (a) for productive purpose only; (b) within your means; and (c) with a moral commitment. Tracking the borrowing, loans, minimum payment warning, and other credit records from the personal CCRIS and CTOS reports. Assessing the Debt to Income ratio and sustain the general rule that this ratio should not be more than 40% for each individual. Acknowledge the risks and responsibilities of being a guarantor. Recognizing the jurisdiction and usual recovery procedures taken by banks (the largest Financial Institution) prior the bankruptcy action and declaration. Recognizing the disqualifications of a bankrupt. Event report CCO Forms Jan 2015 Universiti Tunku Abdul Rahman Form Title : Event Report Form for Centre for Community Outreach Form Number : FM-DSSC-CCO-018 - - Rev No: 1 Effective Date: 15-08-2016 Page No: 1 of 1 Illustrating the Hire Purchase Installment calculation, differentiate the flat interest rate and effective interest rate calculation (reducing balance method). Double checking on the early settlement and emphasizing an ideal monthly installment and monthly interest paid calculation. Acknowledge the significant role of AKPK in providing free services on (a) financial education; (b) counseling; and (c) debts management. (c) Presentation Title: The Effects of Critical Success Factors in Implementing Global Value Chains: A case of Small and Medium Enterprises in Malaysia Presenters: Ms.Ooi Bee Chen (Crystal) and Ms.Tiong Kui Ming Increasing trend of regionalism in globalizing world. The SMEs as the engines of GDP and economic growth are heavily influenced by the increasing trend of regionalism and free trade agreements (FTAs). With the fact that production processes of many industries have been sustainably fragmented and moved around on a global scale, the term of “Global Value chains (GVCs)” emerged significantly serving as the backbone of the world’s economy. Participation of Malaysian SMEs towards global value chains (GVCs) remains relatively low despite of the positive performance of SMEs in recent years. Proposed study will investigate the critical success factors (CSFs) of Malaysia’s SMEs at the recent years (particularly on capability and competitiveness, exposure on international business, ease of access to resources, and other macro conditions) in relation to the adoption and implementation of global value chains (GVCs). Need of study on how Malaysian SMEs could significantly exploit GVCs opportunities to sustain their regional competiveness in global arena. Proposed study will be targeted on 200 SMEs (in manufacturing sector) across Klang Valley (Selangor state and Kuala Lumpur Federal Territory). Successful implementation of GVCs will represent the business performance of SMEs. The specified four drivers of critical success factors (CSFs) on the other hand will be used to examine the business performance of SMEs which indicated by GVCs. Findings and insights from the proposed study could significantly enhance the SMEs’ sustainability and competitiveness in globalizing world, particularly with the adoption and implementation of GVCs. Also, providing a better frame in policy formulation to encourage wide participation of SMEs in GVC which may contribute to higher level of national gross domestic product and economic growth. (d) Presentation Title: Factors Affecting Life Insurance Consumption Presenter: Ms.Lee Hui Shan Increasing demand for financial services in Asian countries, such as banking and insurance. Event report CCO Forms Jan 2015 Universiti Tunku Abdul Rahman Form Title : Event Report Form for Centre for Community Outreach Form Number : FM-DSSC-CCO-018 - - - - Rev No: 1 Effective Date: 15-08-2016 Page No: 1 of 1 Life insurance consumption increases in ASEAN countries. 7 countries out of 10 ASEAN countries shown positive change in the life insurance premium volume in relation to the GDP (%) from 1997 to 2010. Investigation on the economic (GDP, inflation, real interest rate, urbanization) and demographics factors (youth, life, secondary education, tertiary education) in influencing life insurance consumption in selected ASEAN countries from 1990 to 2013 (Malaysia, Thailand, Philippines and Indonesia), excluding ASEAN economies with negative growth and low insurance penetration. GDP (economic) shown positive and significant influence on life insurance consumption, indicating a rise on income per capita will lead to an increase awareness of insurance protection towards a better social well-being, creating a sustainable customer-centric approach across developing ASEAN economies. Negative influence on youth and tertiary education (demographics) towards the life insurance consumption indicating the lack of awareness and exposure on insurance protection among the youth across developing ASEAN economies. (e) Presentation Title: Green Bond and Shareholders’ Wealth: A Multi-Country Event Study Presenter: Ms.Siti Nurhidayah Increasing trend of Green Bond market in which the proceeds from the Green Bond issuance will be used in financing environmentally friendly based projects and activities, aims to promote a sustainable future from the use renewable energy and improving the quality life of society by large. Background of Green Bond Market establishment and the statistics of current growth rate. Socially Responsible Investments (SRI) do affect the firms’ long-term performance. Adoption of event study methodologies and World Market Model in investigating multi-country samples (Brazil, France, Britain, Sweden, United States, and Denmark. Analyzing 118 announcements covering the periods from June 2010 until June 2015. The estimation window covers 250 trading days ending 10 days before each announcement date. Positive outcomes from analysis and significant market reactions at the beginning of announcement until a day after the announcement, indicating shareholders are sustainably return-sensitive about the worth of their future investments. Event report CCO Forms Jan 2015 Universiti Tunku Abdul Rahman Form Title : Event Report Form for Centre for Community Outreach Form Number : FM-DSSC-CCO-018 Rev No: 1 Effective Date: 15-08-2016 Submitted by, _____________ Signature Name: Falahat Contact number: 0172267717 Email: [email protected] Designation: Chairperson Faculty/Division/Centre/Department: Centre for Sustainable Development and Corporate Social Responsibility in Business (CSDCSR) Event report CCO Forms Jan 2015 Page No: 1 of 1