SC launches Capital Market Graduate Training Scheme

The Securities Commission (SC) today launched the Capital Market Graduate Training Scheme with the start of the formal one-month classes for graduates. The pilot scheme which is aimed at increasing the pool of graduates with skills and knowledge on the capital market is one of the measures announced by the Acting Prime Minister and Minister of Finance YAB Dato’ Seri Abdullah Ahmad Badawi recently as part of the Government’s efforts in building a more efficient, resilient and competitive capital market.

The scheme is a significant step in developing skilled human capital for the nation’s capital market, in line with the emphasis placed on training and education in the Capital Market Masterplan (CMP).

SC Chairman Datuk Ali Abdul Kadir congratulated and welcomed the successful graduates who secured a place in the pilot programme, at an opening ceremony at the SC building at Bukit Kiara today.

Datuk Ali urged the 125 graduates to learn as much as possible to equip themselves with the necessary knowledge and experience before they are employed.

Datuk Ali said as an individual’s connection to the world of work was through their jobs, their economic success would be dependent on their learning skills and literacy levels.

“Learning new skills will enable you to meet your personal and career goals by giving you the tools to pursue further learning and a better understanding of the changing world and therefore be better prepared for it.”

He added however that training and learning of new skills was time consuming, challenging and expensive.

“While the temptation to rely on past knowledge and previous experiences are deep-rooted in most of us, new technological advances, new products and processes demand new understanding and the ability to think ‘out of the box’.

“To go forward we need to be more curious. We need to be more analytically minded. We need to be challenged and motivated and we need to be problem-solvers and solutions-finders. And finally, we need to be life-long learners to be competitive and stay ahead,” he added.

The SC-driven project is supported by the Association of Merchant Banks, the Association of Stockbroking Companies, the Kuala Lumpur Stock Exchange, the Malaysian Institute of Certified Public Accountants, the Malaysian Institute of Accountants, the Federation of Malaysian Unit Trust Managers, the Federation of Public Listed Companies Berhad, Amanah Raya Berhad, the Malaysian Institute of Corporate Governance, the Malaysian Accounting Standards Board and the Companies Commission of Malaysia.

The scheme comprises a month full-time training which involves lectures by both the regulators and industry practitioners, and upon completion of the formal training, 11 months on-the-job industrial training with public listed companies, merchant banks, unit trust companies, accounting/audit firms and other relevant industry organisations.

Datuk Ali also thanked the various industry bodies, speakers and individual firms which have committed to taking in the trainees.

The four weeks intensive programme will open with an overview of the financial system and its links to the broader economy, followed by key concepts of the financial system with a special focus on the Malaysian capital market, to be followed by a fairly comprehensive introduction to the functions and operations of the securities and derivative markets and progresses into specific knowledge areas and technical skills required for careers in the market.

Lessons are pitched at a basic to intermediate level and will cover a range of related subjects such as, economics, finance and securities laws. Participants will also get the opportunity to familiarise themselves with capital market products and instruments, key players and intermediaries, and the features and dynamics of the equity, debt and derivatives market.

Participants who successfully complete the programme would have a better understanding of how business and finance work in the Malaysian capital market, be able to analyse the value of capital market products, assess its risk and rewards, and appreciate the level of technical competencies required by the various sectors of the market.

The SC will conduct another intake in the second half of the year. Those who applied for this intake but were not successful because of limited seats can reapply. Advertisements will be placed in major newspapers. Some 500 graduates are expected to benefit from this scheme this year.

1 April 2003