...Cybersecurity Standards: A Case Study on Malaysian Banking Sector Anwer Yusoff Head, Industry & Business Department CyberSecurity Malaysia Sept 18th 2013 Copyright © 2013 CyberSecurity Malaysia Internet use in Malaysia 17 ,723,000 internet users Sources: Internet World Stats (30 June 2012) Copyright © 2013 CyberSecurity Malaysia 2 Internet use in Malaysia The highest usage was recorded among people aged 20-24. almost 6 in 10 (57%) regularly use the internet. Malaysian internet users (aged 20-24) spend an average of 22.3 hours online per week 87.9% of Malaysians on the internet access Facebook Once online, Malaysian’s Top 3 activities 1. social networking sites 2. instant messaging 3. reading local news Source: The Nielsen Company (April 2011) Copyright © 2013 CyberSecurity Malaysia 3 HIGH LEVEL USAGE = HIGH RISK Copyright © 2013 CyberSecurity Malaysia 4 HIGH LEVEL USAGE = HIGH RISK Cyber Security Incidents (1997-2013) Reported to Cyber999 Help Centre 16,000 15,218 Type of incidents: 14,000 • • • • • • • • 12,000 10,000 8,000 As at 31st August 2013 Fraud and scams Intrusion and web defacement Destruction Denial-of-Service Virus / Malware Harassment Content-related Intrusion attempts 9,986 7753 8,090 6,000 3,566 4,000 2,123 2,000 81 196 1997 1998 527 347 1999 2000 860 625 2001 2002 ...
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...Reference------------------------------------------------------------------------ 9 The definition of Investor Relations Nowadays, many companies show and market themselves to investors when they at the primal Public Offering stage through the prospectus which is managed by official requirements and ordinations. After listing, besides meeting the compulsive persistent disclosure requirements, many companies often draw their attention to communicating with investors, Annual Report and the AGM is the only method of communication. However, AGMs have been regarded as the most ineffective one, mainly due to poor attendance, time limited, logistical problems and their lack of frequency. In an age that “instant corporate information” can be delivered to an international audience by the internet, if the companies do not engage with investors, on a continuous basis will lack visibility. Investors have so many choices, PLCs which do not have an IR programme will be short of coverage and support. This will leads to illiquidity of the stocks, poor valuation and unhappy stakeholders at last. The IR challenge is to protect investors’ interest not only by publishing...
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...History And Background On Bursa Malaysia Finance Essay Today, Bursa Malaysia is one of the largest bourses in Asia with just under 1000 listed companies offering a wide range of investment choices to the world. Bursa Malaysia operates as a fully integrated exchange, offering the full range of Exchange-related services including clearing, trading, settlement and depository services. In 1930, the first formal securities business organization in Malaysia, Singapore Stockbrokers’ Association was established and it was re-registered as the Malayan Stockbrokers’ Association in 1937. In 1960, the Malayan Stock Exchange was established and the public trading of shares commenced. Direct telephone lines linked the board system had trading rooms in Singapore and Kuala Lumpur. The Stock Exchange of Malaysia was established in 1964. In 1965, the Stock Exchange of Malaysia became known as the Stock Exchange of Malaysia and Singapore with the secession of Singapore from Malaysia. The Stock Exchange of Malaysia and Singapore was divided into the Kuala Lumpur Stock Exchange Berhad and Stock Exchange of Singapore due to the ceased of currency interchangeability between Malaysia and Singapore in 1973. The operation of the Kuala Lumpur Stock Exchange Berhad was taken over by the Kuala Lumpur Stock Exchange which was incorporated on December 14, 1976 as a company limited by guarantee. The name Bursa Malaysia Berhad changed on April 14, 2004. The purpose was to enhance their competitive position...
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...KUWAIT FINANCE HOUSE (MALAYSIA) BERHAD (672174-T) (Incorporated in Malaysia) Directors' Report and Audited Financial Statements as at 31 December 2010 Registered Office Level 18, Tower 2, Etiqa Twins, 11 Jalan Pinang, 50450 Kuala Lumpur KUWAIT FINANCE HOUSE (MALAYSIA) BERHAD (672174-T) (Incorporated in Malaysia) CONTENTS PERFORMANCE OVERVIEW STATEMENT OF CORPORATE GOVERNANCE DIRECTORS' REPORT STATEMENT BY DIRECTORS STATUTORY DECLARATION REPORT OF SHARIAH COMMITTEE INDEPENDENT AUDITORS' REPORT STATEMENTS OF FINANCIAL POSITION INCOME STATEMENTS STATEMENTS OF COMPREHENSIVE INCOME STATEMENTS OF CHANGES IN EQUITY STATEMENTS OF CASH FLOWS NOTES TO THE FINANCIAL STATEMENTS PAGE 1 1 - 18 19 - 23 24 25 26 - 27 28 - 29 31 - 32 33 34 35 36 - 37 38 - 139 KUWAIT FINANCE HOUSE (MALAYSIA) BERHAD (672174-T) (Incorporated in Malaysia) 1 PERFORMANCE OVERVIEW The Group and the Bank registered a loss after taxation of RM75.6 million and RM97.3 million respectively for the financial year ended 31 December 2010 due to the more challenging operating environment in 2010 as the Group and the Bank embarked on its business realignment and restructuring plans in early 2010. The total assets of the Group has decreased by RM661.5 million to RM10.9 billion as at 31 December 2010. Despite the anticipated full year results, the Group made marked progress in Quarter 1 to Quarter 4 of 2010 profit/(loss) before taxation and the Group stood on a strong capitalised position with a...
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...Certification in Malaysian E-Commerce Websites Syahida Hassan Mohd Khairudin Kasiran Graduate Department of Information Technology Universiti Utara Malaysia, Sintok Kedah, Malaysia syahida@uum.edu.my mkasiran@uum.edu.my Abstract The concept of trusted services forms a key issue for any kind of electronic services. Third Party Certification (TPC) endorsement has been used as one of the methods to instill consumers’ trust. Creating initial trust through implementation of TPC is very important because the consumer has a tendency to trust brand names.. This paper looked closely at the implementation of the TPC in Malaysia which reveals that there are many problems related to the implementation of these seals. Problems like the awareness of merchants on the important of third party seals to their business, unverifiable endorsement, misleading link, unauthorized use of logos and no endorsement at all are still there in Malaysian environment. Based on this fact, the paper will focus on how far the implementation of third TPC is complied with X.509 certification standard. The output of this study can give an important background on the current implementation of TPC and be used as a basis of initial evaluation for business opportunity as a service provider for this kind of certification in Malaysia The fast rising number of broadband user also give significant changes in E-Commerce usage in Malaysia. According to [14], broadband will help make E-Commerce attractive to users. So, as more people connect...
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...Corporate governance is an area that has been growing apace in the last decade or more and there has been great interest in corporate governance today from governments, investors and directors alike. Why and how have the law and regulatory bodies in Malaysia kept abreast with these latest developments? Discuss. * S167A Companies (Amendment) Act 2007 stipulates companies to set up effective internal control system to prevent any unauthorized usage of assets and to maintain proper records for the assets. * However, the agency issue among listed companies in Malaysia lies within the controlling shareholder. Expropriation of …. * However, companies such as YTL Corp, Celcom, Yeo Hiap Seng, which are controlled by individuals with strong political connections or family owned companies, usually do not disclose accurate executive remuneration packages. Hence, agency costs may arise as there is a high possibility that majority controlling shareholders will provide high remuneration packages for themselves at the expense of the minority shareholders * * Rachagan. S. (2007) “Controlling Shareholders and Corporate Governance in Malaysia: Would the self-enforcing model protect minority shareholders?”, The Corporate Governance Law Review, 3(1). Corporate governance is a term that refers to the rules, process or laws by which businesses are operated, regulated, and controlled. It describes the rules and practices put in place within a company to deal with the relationships...
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...The 2nd Indonesia International Conference on Human Capital and Knowledge Management (IC-HCKM 2015) Transition of Malaysia towards Knowledge Society by 2020: Ethical Consideration on the Use of Electronic Gadget in Malaysia Schools Nalni Devi Subramainama, Amizah Mohd Taffy Ganb, Devakumaran Rajamohanc a,b,c Master in Engineering Business Management Razak School of Engineering and Advanced Technology Universiti Teknologi Malaysia International Campus Kuala Lumpur, Malaysia Abstract Due to demands to full fill necessity of K-economy towards Vision 2020, Malaysia is now on the race to create more Information Technology (IT) literate. Education sector has been targeted to be an introduction sector to implement Information and Communication Technology (ICT) tools to advance learning and teaching processes. As such, Government of Malaysia has been working on few strategies to introduce electronic gadget applications in Malaysian schools to improve quality of education inclusively. In this study, we have conducted a survey to study the needs and acceptability of electronic gadgets such as mobile phones in schools, then analyzed outcome of survey accordingly. The result of the survey shows level of acceptance on the use of electronic gadget in schools and ethical consideration has been considered to decide best decision to overcome its negative impacts. Based on ethical consideration, the use of electronic gadgets in schools should be permitted as it brings more...
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...fraud in the United States” (Finklea, 2009). One may have their identity stolen from them without even knowing so. This is because it is not necessary to make physical contact, or even make an acquaintance with a victim before assuming their identity. The crime of identity theft may be committed in a number of different ways, most commonly by obtaining personal information from non-secure websites. These actions will not only cause hardship for the victim, who will more than likely have money stolen from them; but it will also have an effect on an entire nation’s economy. “In 2004 one in every twenty-three adult Americans were victims of identity theft, resulting in costs of over $50 billion.” (Hazelah, Ismail, & Hashim, 2011). There are ways to fight identity theft and different nations take different approaches in order to defend against this offense. American Perspective In the United States, insurance companies such as American International Group have established policies to cover companies that may be responsible in an occurrence of identity theft. “AIG has developed corporate identity protection, this policy is designed protect smaller companies from financial disclosure related to the threat of identity theft.” (Marshall, 2006). Although identity theft may be avoided, the victim may not always be at fault for the crime committed against him or her. “AIG covers legal...
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...TO THE FUTUR E True to our commitment to continuously provide excellent service and compelling value propositions to our customers, we at Pos Malaysia are going through rapid changes. We are realigning our priorities, focusing our efforts on improving our operations and becoming more customer-oriented than ever. We believe that the strategic transformation we manage today, is not only for us to become relevant and sustainable tomorrow, but most importantly it will deliver superior shareholder value to you. As always. Profitability Profit before tax Operating margin EBITDA margin Return on assets Return on equity Balance Sheet Total assets Total equity attributable to equity holders of the company Current ratio Staff Information No. of staff Staff costs to revenue Revenue per employee % RM’000 RM million RM million times RM million % % % % 2010 99.1 10.4 16.0 8.0 8.1 2009 109.3 9.1 14.5 5.9 9.6 2008 (0.5) 9.4 13.7 6.2 (4.4) 2007 15.5 11.8 16.9 7.9 (3.9) 2006 155.9 13.2 18.0 8.1 11.5 1,375.2 828.6 1.4 1,274.6 799.6 1.2 1,537.8 764.5 1.1 1,247.1 859.4 1.3 1,326.0 938.0 2.2 15,618 55.1 65.0 15,780 56.8 57.2 16,125 55.7 57.2 15,777 53.1 54.5 15,425 52.2 53.2 2 Pos Malaysia Annual Report 2010 Group Financial Highlights Pos Malaysia Annual Report 2010 3 4 Pos Malaysia Annual Report 2010 Business Highlights BUSINESS REVIEW • Revenue : RM624.3 million (up 17.0%) 2010 ACCOMPLISHMENTS • Successfully started...
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...2009 Volume 25, Number 1 The Evolution Of Islamic Finance In Southeast Asia: The Case Of Malaysia (1) Rika Nakagawa, Institute of Developing Economies, Japan ABSTRACT The purpose of this paper is threefold: to explain why the Islamic financial system was introduced in Malaysia; to outline how the Malaysian government has promoted this system; and to analyze the development of the Islamic financial system with a specific focus on the banking sector. In Malaysia, the first Islamic bank, Bank Islam Malaysia Bhd., was established in 1983. One turning point of the Islamic financial system in the country was the Financial Sector Master Plan presented by the central bank in 2001. The government, in accordance with the plan, has taken a strong initiative in the development of an Islamic financial system. As a result, the country has succeeded in promoting a comprehensive Islamic financial system, banking and insurance sectors and capital markets. In the banking sector, this paper reveals that the profit-sharing system does not seem to be popular in this country although the reward system is central to Islamic Finance. In order for further development of the Islamic financial sector, the reasons why the percentage of contracts under the profit-sharing system is small need to be analyzed. Keywords: Islamic Finance in Malaysia, Financial Sector Master Plan, New Economic Policy, Bank Islam Malaysia Bhd., Islamic Banking Scheme INTRODUCTION I n the globalized economy, large amounts of...
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...opportunity for me to write about the subject of Human Resources Management. Title: About the Ministry of Human Resources (Malaysia). At the time of preparing this paper, I have gone through different types of websites which helps me to get acquainted with new topics. I am actually focusing on those topics which are important for us to understand about this subject easily. I acknowledge with gratitude to Madam Norazima Md. Malia, my respective lecturer, who has been sincere and helpful in making me understand more about Human Resources Department. I would also like to thank my classmates and associates who have helped me understand the questions properly. I have tried my very best to gather and complete this paper on time. They may be shortcoming, factual error, wrong opinions which are all mine and I alone am responsible for those but I will try to give a better volume in the future TABLE OF CONTENTS Contents ACKNOWLEDGEMENT 1 TABLE OF CONTENTS 2 1.0 INTRODUCTION 2 ABOUT MoHR 2 2.0 DEPARTMENTS AND DIVISIONS OF MoHR 2 2.1 Manpower Department 2 2.2 Labour Department (Peninsular Malaysia) 2 2.3 Industrial Court of Malaysia 2 2.4 Industrial Relations Department 2 2.5 TRADE UNION AFFAIRS DEPARTMENT 2 2.6 OCCUPATIONAL SAFETY & HEALTH DEPARTMENT 2 2.7 NATIONAL VOCATIONAL TRAINING COUNCIL 2 3.0 STATUTORY BODIES 2 3.1 SOCIAL SECURITY ORGANIZATION 2 3.2 HUMAN RESOURCES DEVELOPMENT SDN BHD 2 4.0 ADVISORY COUNCIL 2 4.1 NATIONAL LABOUR ADVISORY...
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...general The word ‘sukuk’ is taken from the Arabic name to represent the financial certificate or an Islamic bond. It comes in Arabic form which is “sak” in singular and “sukuk” in plural. Sukuk is the Islamic bond or security that provides return to investor without breaking the Islamic law, which prevent in charging or paying interest. Sukuk in Islamic finance provides an opportunity to obtain the expected return with the lowest risk as the majority of investment opportunities is based on the stock market. Income is fixed when applying sukuk resulted in no interest is charged on the bonds. Bonds are securities based on debt while sukuk are securities based on asset. Sukuk is an important mechanism that will enhance the financial international capital markets through Islam. Sukuk are primarily composed of investment certificates of ownership claim in a pool of assets. In conclusion, sukuk refers to Islamic bonds that give an advantage to the investor to own a piece of property, along with a commensurate cash flow and risk. Sukuk is in compliance with Islamic law and also refers to the Islamic principles which do not charge interest. 2.0 Background of Sukuk in general Sukuk is an Islamic capital market instruments. Sukuk refers to Islamic securities with rather distinctive features in the modern day of Islamic finance. The first Sukuk transactions occurred in Damascus, Syria, located in the Grand Mosque of Damascus in the 7th century AD. Sukuk can be identified...
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...Chapter 5 Financial System of Malaysia 5.1 Financial System Structure in Malaysia The Malaysian financial system is structured into two major categories, Financial Institutions and Financial Market. The Financial Institutions comprise Banking System and Non-bank Financial Intermediaries. The Financial Market in Malaysia comprises four major markets namely: Money & Foreign Exchange Market, Capital Market, Derivatives Market, and Offshore Market. Chart 1: The Financial System Structure in Malaysia Financial System Financial Institutions Banking System Non-Bank Financial 1. Bank Negara Malaysia Intermediaries 2. Banking Institutions 1. Provident and Pension • Commercial Banks Funds • Finance Companies 2. Insurance Companies • Merchant Banks (including Takaful) • Islamic Banks 3. Development Finance 3. Others Institutions 4. Savings Institutions Financial Market Money & Foreign Exchange Market 1. Money Market 2. Foreign Exchange Market Capital Market 1. Equity Market • Discount...
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...Corporate Governance Blueprint 2011 Towards Excellence in Corporate Governance Suruhanjaya Sekuriti Malaysia 3 Persiaran Bukit Kiara Bukit Kiara 50490 Kuala Lumpur Malaysia Tel: 603-6204 8000 Fax: 603-6201 5078 www.sc.com.my Copyright © July 2011 Securities Commission Malaysia All rights reserved. No part of this publication may be reproduced, stored in or introduced into a retrieval system, or transmitted in any form or by any means (graphical, electronic, mechanical, photocopying, recording, taping or otherwise), without the prior written permission of the Securities Commission Malaysia. Perpustakaan Negara Malaysia Corporate governance blueprint 2011 : towards excellence in corporate governance Bibliography : p. 77 ISBN 978–983–9386–67–7 1. Corporate governance--Malaysia. 2. Industrial management. 1. Suruhanjaya Sekuriti Malaysia. 658.4009595 Cataloguing-in-Publication Data This book is printed using eco-friendly recyclable and bio-degradable paper CONTENTS FOREWORD BY MINISTER OF FINANCE II, MALAYSIA MESSAGE FROM CHAIRMAN OF THE SECURITIES COMMISSION MALAYSIA INTRODUCTION CHAPTER 1 v vii 1 5 SHAREHOLDER RIGHTS CHAPTER 2 13 ROLE OF INSTITUTIONAL INVESTORS CHAPTER 3 21 THE BOARD’S ROLE IN GOVERNANCE – – – – ROLES AND RESPONSIBILITIES INDEPENDENCE OF THE BOARD COMPOSITION OF THE BOARD COMMITMENT OF BOARD MEMBERS 43 CHAPTER 4 DISCLOSURE AND TRANSPARENCY CHAPTER 5 53 ROLE OF GATEKEEPERS AND INFLUENCERS CHAPTER 6 61 PUBLIC AND...
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...REPORT Building A Global Brand What’s the value in a brand name? Everything. A brand that is reputable and stands apart from others provides competitive advantage, confirms credibility, adds value to a company and ensures long lasting customer relationships. As an organisation that has been around for more than three decades, the DRB-HICOM name is one that needs no introduction. It is an organisation that prides itself on always staying ahead of the game, in setting high standards in all its endeavours and constantly challenging the status quo. With a portfolio of more than eighty operating companies in its stable, the Group’s diversity elevates it to a brand with unique character and promise. PROTON, Alam Flora, PUSPAKOM, Pos Malaysia, MODENAS, Bank Muamalat, Glenmarie Properties – these are some of the household names that form a part of the DRB-HICOM Group. From the Automotive and Services sectors to the Property, Asset and Construction sector, DRB-HICOM’s operating companies have always had a strong presence in the local market. Helmed by bold leadership and imbued with core values, strong work ethics and a vision to be number 1, the DRB-HICOM brand is well-positioned to go a step further to become a leading global brand in the future. OUR VISION to be number 1 and continuously excel in all that we do OUR MISSION to lead in the growth of the nation in the areas of DRB-HICOM’S core businesses SHARED VALUES excellence decorum teamwork integrity innovation...
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