Malaysian Students Can Win RM5,000 In The ASEAN Investment Challenge

Malaysian Students Can Win RM5,000 In The ASEAN Investment Challenge

CGS-CIMB Securities Sdn Bhd (CGS-CIMB Malaysia), one of Asia’s leading financial service providers, has recently launched the ASEAN Investment Challenge (AIC).

With the theme of “Level Up Your Game”, the challenge seeks to foster knowledge and growth within students from Malaysia, Indonesia, Singapore and Thailand (MIST) regarding sustainable investing and contribute to the building of strong capital markets in the future. 

Since its 1 July launch, the competition has received as many as 2,800 registrations from students of Institutes of Higher Learning in the MIST markets, with 1,519 from Malaysia alone.

There are two phases to the challenge. The first is a national challenge which is expected to be held from 7 August to 30 September 2023. During this period, participants will receive holistic classroom and hands-on experience in responsible investing of environmental, social and governance (ESG)-related securities.

After this, they will then have to put their new-found knowledge to the test, utilising their investment skills against one another, with the last winner standing being announced in September 2023.

The winner from the Malaysian challenge will take home a cash prize of RM5,000, as well as the opportunity to represent the country in the Regional challenge for a chance to compete for a total of RM130,550. 

“CGS-CIMB is the leading integrated financial service provider in Asia, with a corporate purpose to help those in the communities where we operate make better investment decisions.

“The ASEAN Investment Challenge is an important initiative to help develop the financial literacy of our youths and interest them in responsible investment. With these skills, they will be empowered to secure their financial future,” said Azizah Mohd Yatim, Chief Executive Officer of CGS-CIMB Malaysia, during the official launch of the event on 22 July.

A dialogue session titled “Levelling Up Your Financial To A Better Future” was also held during the launch and was moderated by Deputy CEO of CGS-CIMB Malaysia, Alan Inn. The guest speakers for the dialogue session included Stephanie Tan, Head of Investor Development at Bursa Malaysia, Prof. Dr Mohamad Hariri Abdullah, Deputy Vice Chancellor of Universiti Teknologi MARA (UiTM) and Sarimah Ramthandin, Director, Innovation, Advisory & Industry of Securities Industry Development Corporation (SIDC).

Some of the key takeaways included:

1. Financial literacy is low in Malaysia but the outlook is positive

A study conducted by the World Bank shares that in Malaysia, only 36 per cent of adults are financially-literate, and a concerning 50 per cent admit that their income falls short of covering their expenses. However, account openings and other signs reveal that Malaysia’s youth appear to be taking this more seriously.

2. Financial literacy needs to start from young 

It was agreed upon that early exposure to financial concepts and practices lays a strong foundation for responsible money management and informed decision-making. Introducing financial literacy at a young age opens up more opportunities and possibilities for the next generation.

3. Collaboration is key 

Prof. Dr. Mohamad Hariri also shared that a collaboration between educational institutions and industry leaders can be key to increasing financial literacy in Malaysia. For example, providing a comprehensive and relevant financial literacy curriculum that aligns with current industry practices and economic trends.

“With the support from our partners, we are confident that this initiative will imbue participants with the knowledge, skills and real-life applications, readying them for an exciting career in investment and in building a strong capital market in Malaysia.

“We look forward to further effective collaborations as Malaysia extends its position as one of the premier investment destinations in the world,” added Azizah.

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