The Chairman of the SC, Datuk Dr Mohd Munir Abdul Majid said that the awards are part of the SC's overall objective of encouraging depth of understanding that would contribute to the development of the capital markets.
"The world today is focussing on emerging markets such as ours and it would be more meaningful if the younger generation of today felt some ownership and pride in shaping the future of our markets. It is hoped that the awards will encourage the universities and post graduate students to contribute to the development of the market," said Datuk Munir.
Each award will comprise a medal and RM10,000 each. Of the eight local universities invited, five local universities will be participating in the 1995 awards - University of Malaya, Universiti Kebangsaan Malaysia, Universiti Sains Malaysia, Universiti Utara Malaysia and the International Islamic University. Presentation of the awards will be made later this year.
"The awards will be given to post-graduate students of any discipline relevant to the capital market, such as law, accounting, economics or management," added Datuk Munir.
Each university will have its own selection panel that will nominate one candidate. The SC panel, consisting of the Chairman and two commission members will select the best three research papers. The SC has a right to give less than three awards or none at all in any year if it deems that the papers do not meet its criteria.
The critieria for selection for both committees are:
- the candidate must have completed a bachelor's degree programme;
- the subject area of the research paper must be of relevance to the Malaysian capital markets; and
- the paper must satisfy the objective of enhancing the present understanding of the Malaysian capital markets.
Datuk Munir added that the awards programme complements the SC'c overall objective of enhancing the knowledge and understanding of the capital markets through extensive research and education.
"The Securities Industry Development Centre (SIDC) of the Securities Commission was set up with the objective of facilitating development in the capital markets through training for the industry, both locally and regionally, by increasing investor awareness of its rights and responsibilities and via dissemination of non-proprietary research."
In promoting the development of research work, the SIDC is building up a library of literature and data to facilitate research work.
"Our new building which will be completed in 1998 will have a designated wing for SIDC which will also house a library which will be open to the public. The library will have a sophisticated multi-media information,system incorporating on-line services such as NSTP, Reuters and Internet," said Datuk Munir.
"The SC would like to stimulate interest in research in the capital market and it is hoped that its library and staff will be a valuable source of reference," he added.
Already, the SC's Research and Development Division works together with local and foreign research bodies to exchange ideas and do collaborative research.
"The consultative approach that the SC takes in developing its policies means that there is a wealth of data and knowledge accumulated in one place and we are willing to share any non-proprietary information with others," said Datuk Munir.
He added that SIDC also intends to distribute published materials to the general public.
"By the end of this year, investors and the general public can expect useful educational guides including an investor's guide to unit trusts and the rights and obligations of an investor," said Datuk Munir.
Earlier this year, SIDC distributed the call warrants booklets free to the public. The booklets are available in both English and Bahasa Malaysia.
