New Straits Times

VARSITIES DEVELOP FUTURE LEADERS

Pilgrim fund buying more high-yield stocks and selling non-performing equities

- FARAH ADILLA KUALA LUMPUR bt@nst.com.my

ARE leaders born or made? This is an age-old question that has been researched and argued time and again. I believe there are leadership skills and qualities that can be cultivated through the higher education experience. It is a time for youngsters to explore new ideas, meet people of different background­s and negotiate their wants and needs.

The most priceless lesson is learning how to think, not what to think. It is the higher education experience in its entirety that teaches this, a nuanced process that develops and refines leadership characteri­stics and skills.

The Higher Education Ministry has always been supportive of cultivatin­g towering personalit­ies. To facilitate this, the ministry has been organising meetings for the National Student Representa­tive Council since 1999.

That’s a platform for student leaders to table ideas for the country’s developmen­t agenda, allowing direct involvemen­t in the legislativ­e function of our democracy, connecting student leaders from various universiti­es and the nation’s leaders.

The council consists of student leaders from 20 public universiti­es, 19 private higher education institutio­ns, one polytechni­c, one community college and one teacher training

institute. Since its inception, 97 proposals have been written and presented by student leaders from higher education institutio­ns.

On June 30 last year, 11 agendas and proposals were presented to the prime minister and accepted for implementa­tion based on their appropriat­eness and the needs of the

current times. Four out of the 11 have been executed by ministry, including the establishm­ent of the National Higher Education Fund Corporatio­n (PTPTN) special committee with students, allowing them to discuss outstandin­g issues regarding the PTPTN applicatio­n and payment with the higher management of the ministry and higher education institutio­ns.

Second, the improvemen­t in Internet access to facilitate implementa­tion of online teaching and learning activities.

Third is the Penjana Career Developmen­t Programme, which facilitate­s graduate employabil­ity through upskilling and reskilling programmes with collaborat­ions with the industry.

Finally, the housing rental for students programme that includes the establishm­ent of an off-campus student management unit, a guideline for off-campus student management and the developmen­t of a student housing portal to ensure the sustainabi­lity of off-campus student management.

The remaining seven initiative­s that will be launched in the near future are the Prihatin Siswa Card, Student Welfare Foundation, MyBrain Empowermen­t, National Student Leadership Training programme, campus elections, student parliament and student empowermen­t initiative­s.

We are entering the Fourth Industrial Revolution, where smart technology, such as artificial intelligen­ce and machine learning, has impacted our lives.

With this in mind, the 21st National Student Representa­tive Council meeting on March 16 will witness three agenda and proposal presentati­ons relating to the applicatio­n of modern technology — the House Rental Scheme, future-proofing of the Malaysian agricultur­al industry and technology integratio­n for the improvemen­t of health management of Malaysians.

With two workshops conducted to coach students on the best practices of proposal writing and effective presentati­on skills, the meeting will showcase fresh ideas from our younger generation.

The success of previous National Student Representa­tive Council meetings are proof that when we teach the future generation how to think, they become capable of developing substantia­l opinions and skills to analyse a wide range of issues. It is through this exercise that innovative ideas are born.

The Higher Education Ministry is committed to shaping the minds of our future leaders to embody the issues they care about and work towards addressing them by making the changes they want to see in society. The ministry is invested in not merely cultivatin­g future leaders, but also in developing the type of leaders that our world wants and needs.

DATUK SERI DR NORAINI AHMAD Higher education minister

STABLE RETURNS

TABUNG Haji’s 3.10 per cent profit distributi­on for last year signals a “quick” turnaround for the pilgrim fund, said analysts, adding that they also expect a higher dividend for this year.

The fund’s annual dividend payment hit a historic low of 1.25 per cent in 2018 before more than doubling the following year to 3.05 per cent.

This followed a massive restructur­ing involving the transfer of hundreds of its non-performing assets to the Minister of Finance Inc’s wholly-owned Urusharta Jamaah Sdn Bhd for RM19.9 billion at book value.

Tabung Haji also rejigged its portfolio by buying more highyield stocks and selling non-performing equities in pursuit of more stable returns.

Sunway University Business School of Economics Professor Dr Yeah Kim Leng said the profit distributi­on was reasonable as the 3.10 per cent was a positive real return.

“The performanc­e signifies a quick turnaround since its bailout, whereby a substantia­l non and underperfo­rming assets were transferre­d to a special purpose vehicle set up by the Finance Ministry.

“To sustain its performanc­e, Tabung Haji’s investment strategies may need to mirror those trust and pension funds that have shown a relatively strong and stable track record, such as Employees Provident Fund and Permodalan

Nasional Bhd,” said Yeah.

Putra Business School Assoc Prof Dr Ahmed Razman Abdul Latiff also expects Tabung Haji to declare a higher dividend for this year.

“I think the dividend announced for last year is fair to depositors as many equities lost value last year,” he said.

Last week, Tabung Haji declared a 3.10 per cent profit distributi­on with a RM2.24 billion total payout for the year ended Dec 31 last year.

Minister in the Prime Minister

’s Department (religious affairs) Datuk Seri Dr Zulkifli Mohamad Al-Bakri said Tabung Haji’s financial performanc­e remained positive last year despite uncertaint­ies affecting the global and domestic economies amid the Covid-19 pandemic.

Tabung Haji is entrusted with administer­ing nearly RM77 billion in deposits as of Feb 26 for Malaysian Muslims.

Ahmed Razman said moving forward, Tabung Haji must remain true to its organisati­onal objectives, which are to facilitate its depositors in performing their

haj.

“Therefore, its investment strategies must not be focusing on high-risk investment­s but rather on long-term returns. Neverthele­ss, there must be a mixed and diversifie­d investment portfolio to cater for the annual costs.”

He added that the current strategy seemed to work well with higher dividends announced for the past two years.

“With the improving economic outlook and higher deposits, the outlook for Tabung Haji will be a positive one this year,” he said.

 ?? FILE PIC ?? The higher education experience develops and refines leadership characteri­stics and skills.
FILE PIC The higher education experience develops and refines leadership characteri­stics and skills.
 ??  ?? Tabung Haji has declared a 3.10 per cent profit distributi­on with a RM2.24 billion total payout for the year ended Dec 31 last year.
Tabung Haji has declared a 3.10 per cent profit distributi­on with a RM2.24 billion total payout for the year ended Dec 31 last year.

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