Empowering Youth Through Knowledge
Kuala Lumpur, 7 June 2016 – Malaysian Industrial Development Finance Berhad (MIDF) via its research arm, MIDF Research recently organised its second Sembang Ekonomi Bersama MIDF session at Universiti Putra Malaysia (UPM), as part of its drive to empower youth by equipping them with real-time knowledge on current economic issues.
MIDF partnered with the Faculty of Business & Management, UiTM Puncak Alam for the first session held in April.
“We aim to enter into a partnership with at least 20 institutions of higher learning throughout 2016 across Peninsular Malaysia. This initiative is part of our ambition to provide youth with up-to-date economics data and analysis on topics of current interests, enabling them to form educated opinions on these issues, rather than basing it on mixed information and unfounded resources in social media”, says Encik Zulkifli Hamzah, Head of MIDF Research.
This initiative is part of an outreach programme by MIDF, in partnership with local institutions of higher learning throughout Malaysia. The programme is conducted in a forum style, with 3 economists from MIDF Research covering current issues on Trans Pacific Partnership (TPP), Goods & Services Tax, Household Debts and 1MDB. The intent behind this specific platform is to create a space, where conversations can happen and remain robust from interactions between the audience and the speakers, leading to a highly engaging session.
In keeping with the casual, discourse spirit, a Q&A session is included, with enthused participation by the students and faculty members in attendance, from both UPM and UiTM Puncak Alam.
UPM’s Dean of the Faculty of Economics and Management, Dr. Zulkornain Yusop who was present to officiate the session, said, “This session provides valuable insights and an experiential learning platform for our students, as they witness first-hand how economic policies are assess, taking into context its implications on nation building and society, not just through the lenses of economic theories confined in the lecture halls.”
MIDF Research economists shared TPP’s pros and cons, its economic impact particularly on SMEs’ relevance in view of increased competitiveness, impact on governance of GLCs, government procurement, settlement of dispute between investors and state, domestic firms’ rights as well and intellectual property.
“There’s a lot of misconception on TPP, due to lack of in-depth knowledge and awareness, we’d like to spur a discourse amongst students so they can weigh in on it themselves”, said Dr. Kamaruddin Mohd Nor, an economist with MIDF Research.
Aside from TPP, MIDF also shared insights into increasing household debt, that most find alarming, highlighting that the largest component is mortgage of residential property, due to the rise in property value since 2009. These mortgages are secured lending as it is collateralised by the properties it is financing. As such, the high household debt is supported by assets. Here, MIDF Research illustrate the importance of having perspective and evaluating based on facts, rather than sentiments, in assessing economic trends.
The Sembang Ekonomi Bersama MIDF, will be kept fresh and relevant, by inclusion of new, current topics as it progresses throughout the year.
MIDF was established fifty-six years ago as a result of a study by the World Bank. MIDF is the country’s premier development finance institution for the purpose of accelerating the development and modernisation of the country’s manufacturing industry.
MIDF Group has evolved into a stronger and bigger entity, offering a competitive and diversified range of financial services to include Investment Banking, Development Finance, Asset Management and Mezzanine Financing.
MIDF is a wholly-owned subsidiary of Permodalan Nasional Berhad.
For more information, please contact:
Head, Group Corporate Communications
Tel: (03) 2173 8756
Fax: (03) 2173 8866
H/P: (019) 332 4809