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