Source from The Star Online
Release Date 10 October 2013
Written by Wong Wei Shen
KUALA LUMPUR: The Malaysian Association of Corporate Treasurers (MACT), which was relaunched yesterday, is establishing itself as a platform for treasury practices to exchange views and share information on financial markets and the economy.
“As corporates and small and medium enterprises in Malaysia achieve growth and extend business presence both within the region and internationally, there would 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 at the relaunch.
Companies such as Telekom Malaysia Bhd (TM), Astro Malaysia Holdings Bhd, MISC Bhd, Axiata Group Bhd, Genting Bhd, UEM Group Bhd and Sungard Malaysia initiated the relaunch of MACT as an official treasury body.
MISC, Sime Darby Bhd, Tenaga Nasional Bhd, TM, Malaysia Airlines and Axiata Group formed the association in 1996. It had 48 corporate members and 110 individual members at that time, but has been dormant since the Asian financial crisis.
Deputy Finance Minister Datuk Ahmad Maslan, who officiated the relaunch, said he was encouraged by the initiative of treasurers from the corporate sector to revitalise MACT.
“I see this as an indication that treasurers themselves have felt the need for such an association in Malaysia, particularly in respect of the role it can perform in engaging with the regulators and in providing comprehensive information to facilitate members in their independent decision making, skills training and education,” he said.