Source from The Malaysian Reserved
Written by Azli Jamil
Thursday, 10 October 2013 10:00

Small and medium enterprises (SMEs) could benefit through joining Malaysia Association of Corporate Treasurers (MACT) where they are able to share and tap the knowledge of experienced corporate treasurers from bigger and established organisations, in a move to raise their performance in treasury matters.

“As corporates and SMEs in Malaysia achieve growth and extend business presence both within the region and internationally, there will be a growing need for an association such as MACT to provide a sound and informed platform for communication exchange on relevant treasury practices,” said MACT president Anne Rodrigues in her speech at the association’s re-launch in Kuala Lumpur yesterday.

Rodrigues said members of MACT will be able to increase their business know how of treasury related financial products, loan and funding proposals, and obtain an understanding of complex
risk management products frequently introduced by financial institutions.

“Increasingly more treasury practitioners have found a pressing need to evaluate all these issues from a corporate perspective, independent from the views presented to them by financial  institutions,” said Rodrigues.

MACT was first established in 1996 but the financial crisis of 1997 resulted in the association becoming dormant since 2000. The association was reactivated in 2013 through the initiative of corporate treasurers from major corporations in Malaysia and was re-launched yesterday.

MACT said it will position itself as a “centre of excellence” for all aspects related to treasury   management within Malaysia. It aspires to be the recognised body to articulate common views
of its members on regulatory bodies, banks, vendors, and training institutes.

It will also work together with these parties to raise the knowledge level of treasury management in Malaysia.

The MACT’s scope includes core aspects such as risk management, foreign exchange and international monetary issues, economics, exposures (hedging, forward purchases), interest rate risk and credit limits. Some of its other broader functions comprise cash and liquidity management, capital markets and funding and corporate finance.

MACT will also serve as a single point of contact for treasurers worldwide intending to seek information on prevailing treasury practices and new regulations affecting the treasury scenario
in Malaysia.

The MACT re-launch was graced by Deputy Minister of Finance Datuk Ahmad Maslan who delivered the keynote address on the implications of the recently implemented Financial
Services Act and the Islamic Financial Services Act, and how these acts will affect the treasury and financial space in Malaysia.

He also talked about the move towards a cashless society and the move for Malaysia to become a world class treasury management centre.

At the press conference after the launch, Ahmad declined to comment on any question relating to the upcoming budget 2014

Source From BERNAMA

Release Date 13 December 2013

KUALA LUMPUR, Oct 9 (Bernama) — The government will continue to ensure an orderly condition for the ringgit foreign exchange market to enable adjustment in the real economy.
Deputy Finance Minister Datuk Ahmad Maslan said for the long term interest, priority should be given to achieving an equilibrium between exchange rate flexibility and stability.

“Exchange rate flexibility under the managed float system enables the ringgit to play its role as shock absorber and price indicator,” he said in his speech at the Relaunch of Malaysian Association of Corporate Treasurers (MACT) ceremony here Wednesday. He said the value of the ringgit was determined by market forces and the government does not have aany specific target level or range for the exchange rate.

“What is important is the formation of a buffer and structural improvements in the economy and financial markets since the Asian financial crisis 1997/98 had put regional economies, including Malaysia, in a situation in which they are more prepared to manage the risk in financial market volatility compared with a decade ago,” he said.

Ahmad said the domestic demand that remained strong also provided the buffer to external uncertainties. In addition, the country’s economy is now more balanced than in 2000, with strong
economic fundamentals and diversified sources of growth.

“Domestic demand particularly has become a key driver of growth and the services sector plays a more major role. The country’s unemployment level also remains low
at 3.0 per cent,” he said.

The financial system is now stronger and more advanced than before, he said. Ahmad said Malaysia’s banking system which remained resilient as well as its deep and diversified domestic bond market had also created a good intermediation of funds.

Besides that, the level of the country’s international reserves remained strong and external debt was low and under control at 28.2 per cent of gross domestic product in the second quarter of 2013.

As at Aug 30, 2013, the international reserves of Bank Negara Malaysia totalled US$134.8 billion (RM428.1 billion), sufficient to finance 9.3 months of retained imports and was 3.7 times the short-term external debt.

Recently, the value of the ringgit and other regional currencies recovered strongly, driven mainly by external developments including changes in market expectations relating to the reduction of quantitative easing by the United States.

During the one month ended yesterday, the value of the ringgit increased 2.6 per cent against the US dollar. “Based on latest currency movement, that is, US$1 equivalent to RM3.1985 when
trading closed yesterday, it is clear that its position is in line with the country’s economic fundamentals at present,” said Ahmad.
– BERNAMA

Source : The Borneo Post / BERNAMA

Posted on October 10, 2013, Thursday

KUALA LUMPUR: The government will continue to ensure an orderly condition for the ringgit foreign exchange market to enable adjustment in the real economy.

Deputy Finance Minister DatukAhmad Maslan said for the long term interest, priority should be given to achieving an equilibrium between exchange rate flexibility and stability.

“Exchange rate flexibility under the managed float system enables the ringgit to play its role as shock absorber and price indicator,” he said in his speech at the Relaunch of Malaysian Association of Corporate Treasurers (MACT) ceremony here yesterday.

He said the value of the ringgit was deterrnined by market forces and the government does not have any specif ic target level or range for the exchange rate.

“What is important is the formation of a buff er and structural improvements in the economy and financial markets since the Asian financial crisis 1997/98 had put regional economies, including Malaysia, in a situation in which they are more prepared to manage the risk in f inancial market volatility compared with a decade ago,” he said.

Ahmad said the domestic demand that remained strong also provided the buffer to external uncertainties.444424E

In addition, the country’s economy is now more balanced than in 2000, with strong economic fundamentals and diversif ied sources of growth.

“Domestic demand particularly has become a key driver of growth and the services sector plays a more major role. The country’s unemployment level also remains low at 3.0 per cent,” he said.
The f inancial system is now stronger and more advanced than

Ahmad said Malaysia’s banking system which remained resilient as well as its deep and diversified domestic bond market had also created a good intermediation of funds.— Bernama