e-Momentum ISSUE 25
JULY - AUGUST 2011
Green conference a major hit
In action - Mr Matthias Gelber, the ‘greenest person on the planet’.
Mr Charles Tilley (left), Chief Executive of CIMA, chairing one of the panel discussions.
The CIMA Green Sustainability Conference Asia 2011 held on 12-13 July was well attended by over 200 decision makers who gave positive feedback on the content of the conference, finding it to be very knowledgeable and inspiring. On the programme were sessions by 12 speakers including the ‘greenest person on the planet’, Matthias Gelber, co-founder of Maleki GmbH. The speakers covered issues ranging from green reporting, carbon footprint and certification schemes for sustainability to green technology, renewable energy, green billing and sustainable construction. On day two of the conference Mr Charles Tilley, Chief Executive of CIMA, gave a special address and chaired Theme 3: Presentation of case study. In conjunction with the upcoming CIMA World Conference in Cape Town, South Africa, in October. He also launched the CIMA report on Building world class businesses for the long-term.
Ensuring the conference ‘walked the talk’, participants received name tags that doubled up as luggage tags and instead of drinking glasses, refillable stainless steel water bottles were distributed. They were also given a hand towel to avoid the usage of serviettes and a unique pen made from biodegradable corn material. All these items were placed in a tote bag made from recycled plastic bottles and sponsored by Tesco Malaysia. In addition, conference papers and feedback forms were only made available online and questions addressed to the speakers were texted to a special mobile number, downloaded and then given to the session chairperson. A green thumbs-up to the organising team and all who attended!
Guest of honour, YBhg Datuk Loo Took Gee (left), Secretary General, Ministry of Energy, Green Technology and Water, receiving a token of appreciation from conference organising chairman, Mr Lee Son Chee FCMA (right).
Participants of the conference are intrigued with their green bags sponsored by Tesco.
MOUs with UUM and Sunway University inked During his visit to Malaysia last July, Mr Charles Tilley, Chief Executive of CIMA, signed a Memorandum of Agreement with Universiti Utara Malaysia (UUM) and a Memorandum of Understanding with Sunway University. In the UUM collaboration, students of the UUM Bachelor of Accounting (Honours) programme will acquire their degree and the CIMA Professional Qualification in Management Accounting simultaneously upon graduation. The Memorandum of Agreement was signed by Charles and Professor Dato' Dr. Mohamed Mustafa Ishak, Vice Chancellor of UUM. UUM is the first university in Malaysia to integrate the CIMA syllabus into their Bachelor of Accounting (Honours) programme. From left: Associate Prof Dr Kamil Md Idris, Dean, School of Accountancy of UUM, Professor Dato' Dr Mohamed Mustafa Ishak, Vice Chancellor of UUM, Mr Charles Tilley, Chief Executive of CIMA and Ms Irene Teng, Regional Director of CIMA South East Asia and Austalasia at a press conference held after the signing of a Memorandum of Agreement between CIMA and UUM.
At Sunway University – Mr Charles Tilley exchanging signed documents with Ms Elizabeth Lee (left). In the centre is Mr Lee Weng Keng, Chief Executive Officer, Education and Healthcare Division, Sunway Education Group.
In the Sunway University collaboration, CIMA accorded the maximum number of 11 exemptions to Sunway’s Bachelor of Science (Honours) in Accounting and Finance programme. Sunway University will also use the CIMAstudy.com online study material to complement classroom teaching. The Memorandum of Understanding was signed by Mr Charles Tilley and Ms Elizabeth Lee, Executive Director of the Sunway Education Group. Witnessing the signing ceremony were Ms Irene Teng, Regional Director of CIMA South East Asia and Australasia, and Associate Professor Dr Foo Yin Fah, Head of the Sunway University Business School.
CIMA Singapore
CIMA Australia
Raising the bar on business partnering
Australasian Regional Board
Gleaned from a regional roundtable held in Singapore in the first quarter of 2011, as well as ongoing research on finance transformation, a new report from CIMA outlines both the growth and operational context of finance business partnering across Asia, with a particular regard to independence and objectivity. Entitled Fact or fiction? The independent business partner: Asia, the report highlights how finance professionals across the Asian region need to move from 'co-pilot' to the 'driver seat' whilst employing additional skills and tools. It also stresses the need for finance business partners who can build relationships, influence, analyse, critically challenge and make decisions based on an independent view. To download a copy of the report, visit www.cimaglobal.com/thought-leadership
New suite of qualifications in Islamic finance makes debut in London
Mr John Willsdon, CIMA’s Islamic finance specialist, at the launch in London.
CIMA launched a new suite of qualifications in Islamic finance during the IFN Europe Forum in London on 7-8 July. Mr John Willsdon, CIMA’s Islamic finance specialist, presented on the new qualifications to around 500 industry leaders.
Following a detailed review, CIMA’s Certificate in Islamic Finance has just been re-graded to the CIMA Diploma in Islamic Finance. The CIMA Advanced Diploma is a new qualification which applies the knowledge gained in the diploma to real life case studies. Students are assessed by way of online or computer assessments. At the global launch in Kuala Lumpur last June, Mr Venkkat Ramanan, Head of CIMA Malaysia, and Dr Mohd Daud Bakar, Shari’ah Scholar and finance expert and President/CEO of Amanie Advisors and Consultancy took to the stage at UCSI University to unveil the new suite of qualifications on offer. For more information, please visit www.cimaglobal.com/if
The formation of the Australasian Regional Board (ARB) received Council approval in March 2011, and the new structure became effective from 30 June 2011. The ARB replaces the National Economic Councils of Australia and New Zealand and is made up of elected representatives from both countries. Members of the new board will serve a term of three years until the 2014 annual general meeting. They sat for their first meeting on 5-6 August. The following are members of the ARB: • Adrian Fernando • Chand Pandit • Karen Wood • Aneela De Soysa • Alex Dermedgoglou • Thilina Dharmadasa • Paul Thambar • Theo Soumyraj • Surendra Salgado • Adrian Earl • Richard Ray • Tracy Willacey
Philippine team clinches GBC title CIMA Global Business Challenge (GBC) champion Team Scions from the Philippines, flanked by the Mayor of Chengdu, Mr Ge Hongling (left) and Mr Harold Baird (right), President of CIMA.
After six months of intense pressure, preparing and beating local and international competitors, Team Scions from the Philippines emerged victorious at the 2011 CIMA Global Business Challenge (GBC). They beat 16 other strong teams at the two day event hosted by the Chengdu Municipal Government. Team Scion is made up of Jerard Megg D Cordero, Ordisi P Osonio, Marra Francillan P Cordera and Dominique A Dabad. Together they provided innovative and feasible solutions that balanced attention to detail with the appreciation of broad strategic issues. The global finals held in partnership with Barclays attracted audiences of over 700 and was assessed by a panel of industry expert judges from organisations across the globe including Barclays, Shell, L'Occitane en Province, Tangs Department Store, TRW and CIMA. Other winners included Case Crackers from Singapore who was the first runner up while Eva Consulting of Australia was the second runner up. Apex of Sri Lanka won the video competition while Mr Minh Pham of Vietnam team Fingerprints was awarded ‘Best future business leader’.
The Malaysian team, Agilis from Universiti Kebangsaan Malaysia, in action at the GBC global final in Chengdu.
Mr Minh Pham (left) of Vietnam won the ‘Best future business leader’ award.
Updates from CIMA New degree with Manchester Metropolitan University
Finance transformation roundtable
CIMA has teamed up with Manchester Metropolitan University (MMU) to link its existing qualifications to a fast track university degree. MMU is the first higher education institution chosen by CIMA to run the degree, a BA (Hons) in Sustainable Performance Management.
A roundtable on finance transformation was held on 21 July in CIMA’s corporate office in London, chaired by Dr Robert Jelly, Executive Director of Education. The roundtable was attended by 11 key employers, among which were Proctor & Gamble, Accenture, Siemens, Deloitte and Genpact.
The course spans one year. Registration which commenced on 18 July can be done via CIMA’s website and the fee is £800. To be eligible a CIMA student must be registered and have successfully completed the managerial level examinations (with a minimum of one paper completed under the 2005 syllabus). For more information, please visit www.cimaglobal.com/Study-with-us/Combining-CIMA-with-degrees /Manchester-Metropolitan-University/
Entitled ‘Partnering: motivation and reward’, the participants debated best practices in structuring finance functions. It also touched on how best to motivate the whole finance team and reward professionals.
CIMA Negeri Sembilan Network
CIMA Sarawak
Hitting the right notes
Marketing is integral to a company’s success
Music filled the air as 22 members and students gathered at the Green Box Karaoke at the Jusco Seremban 2 Shopping Centre for a karaoke competition. Participants bravely belted out their choice of tunes Group winner, Mr Low Kai Yuan (right) either as a solo or part of a group. and Ms Low Yoon Chong (2nd from left), with CIMA Negeri Sembilan Singing their way to prizes in the Network member, solo category were Mr Low Kai Yuan Ms Patricia Tan (left) and Chairman, Mr Paul Valluvan (3rd from left). in first place with Mrs Low Yoon Chong and Ms Lim Jie Ying second and third respectively. First prize for group went to Mr Low Kai Yuan and Mrs Low Yoon Chong while Ms Tham Hoong Ping and Ms Chew Siew Li came in second.
CIMA Sarawak and MIA Sarawak jointly organised a one day seminar entitled ‘Marketing and finance in partnership – a synergy to achieve greater business success’ on 12 August in Pullman Hotel Kuching, Sarawak. Presented by experienced trainer and speaker Mr Francis Rowlands from the Mr Francis Rowlands (centre) receiving a token UK, about 46 participants benefited from this of appreciation from Ms Eleanor Shim, Manager seminar. He said, ‘Marketing is an integral part of every company’s success platform and needs to of MIA Sarawak. On the left is Ms Doreen Tan, be strategically, planned, driven and co-ordinated. Manager of CIMA Sarawak. The role of the accounts team is to ensure that financial resources are managed, directed effectively and utilised to maximum effect.’ This interactive workshop led delegates through the concepts of marketing from a financial perspective to ensure that they can become a highly effective service support centre, integral to the achievement of the business’s strategic plan.
CIMA students benefit from Tesco’s Finance Graduate Programme Tesco’s Finance Graduate Programme is designed to deliver the next generation of Tesco leaders. Currently, there are nine graduate trainees undergoing this programme which incorporates the CIMA professional qualification. Ms Azlina Zaidar Md Mohtar, Human Resource Manager (Finance) of Tesco Stores (Malaysia) Sdn Bhd said, ‘The aim is to expose the graduates to best practices in finance and train them to acquire leadership and management skills. This is achieved through an appropriate blend of workshops and planned job experiences and having a career path mapped out for them. The result is career progression to a managerial role within three years after completion of the CIMA professional qualification.’ Graduate trainee, Ms Valerie Lee, seeking career opportunities at Tesco Malaysia.
Among the graduate trainees is a CIMA student, Ms Valerie Lee, who joined Tesco after completing her Advanced Diploma in Commerce (Management Accounting) at TAR College. She is currently attached to Finance Reporting, Central Planning function. An interview with her shows her progress in Tesco and her future aspirations.
Tell us about your current job scope under the Graduate Trainee programme and what you hope to achieve out of this programme. Central Planning is the heart of the finance team, a focal point to deliberate cross communication locally and globally within Tesco. By collating financial information, operational KPIs and budget forecasts for reporting to UK, I understood the importance of timeliness and accuracy in reporting. This serves as a good starting point for me to put my academic studies into practice and to understand both local and global perspectives of a global retail company like Tesco. I am assigned to work on a balance sheet budgeting project to construct an appropriate budgeting model for the finance team. I am glad to be given such an opportunity, as a fresh graduate, to understand the full picture of the business particularly capital expenditure, working capital and cash flow forecasts, in addition to developing project management skills. Work aside, the Finance Graduate Trainee programme provides structured training and exposure, and full support for me to pursue the CIMA qualification. My aim is to grow with Tesco and build my competency and interpersonal skills because I wish to partner with the business as a qualified management accountant.
What do you like best about working in Tesco? It is the culture, the way Tesco do things that mesmerises me. Tesco provides dedicated training to infuse both technical and soft skills that are relevant to my work and personal development, beyond what academics can offer. I feel that my efforts are valued and there are always opportunities for me to learn new things every single day. As a working CIMA student, the greatest challenge is juggling between work and studies. My line managers are supportive of what I do. For instance, they will not stretch my working hours or workload when I need to go for CIMA tuition classes, even during peak periods. They always entrust me to perform tasks beyond my job scope to develop my organisational and interpersonal skills. They motivate me to excel and to develop my potential. Whenever I have a hard row to hoe, be it work or studies, I will not feel out-of-the-way because my team is always there for me. I would say the greatest thing about working in Tesco is that, you always have others on your side to make things work!
What do you think is the best thing about having a CIMA qualification now that you are in the corporate environment? The roles of accountants have changed today; they are no longer number-crunching people that deal only with IAS/IFRS, audit, tax issues, etc. CIMA devotes its spotlight on sustainable value creation, i.e. how can we streamline things to be simpler, cheaper and better. It is best to have a CIMA qualification because CIMA is poised to be at the cutting edge when it comes to business sustainability as it is essential for companies to create strategies where short and long-term needs and goals meet one another. With CIMA, I appreciate and enjoy working even more because it is not only about looking at spreadsheets, number crunching and getting the numbers right; it is about understanding the business as a whole. It teaches me to think outside of the box. On her future aspirations, Valerie hopes to be an associate member of CIMA in less than five years and to be in a managerial position in the corporate planning function. Career aside, and if opportunities arise, her personal aspiration is to share information, knowledge and experience with others by training and developing future talents. She said, ‘I wish to thank CIMA for giving me the opportunities and exposure in the world of management accounting. This is in line with the proverb: ‘To give a fish, you only live for one day, but to teach you how to fish, you live for life.’ ‘Many people would attest that professional accountants earn a high salary but to me, CIMA is a passport that brings me closer to tomorrow of what I want to achieve in my career and in life. When I pursue the CIMA qualification, the greatest achievement is not how many papers I have passed; it is who I am now that matters. CIMA is a journey, never a destination.’
Advance with Excel
MIA news First MIA-AFA Conference 2011 The Malaysian Institute of Accountants (MIA) together with the ASEAN Federation of Accountants (AFA) will be organising the first MIA International Accountants Conference and the 17th AFA Conference at the Kuala Lumpur Convention Centre on 2-3 November. Over 2,500 participants from ASEAN countries are expected to attend. The theme is ‘Converge, transform, sustain: towards world class excellence’. Plenary and workshop sessions will feature more than 40 speakers discussing topics relevant to the professional accountant as value creator and contributor to sustainable organisations, financial markets and economies. For more information, visit http://mia-afa2011.mia.org.my The first 500 participants to register will receive a free annual subscription of 24 executive summaries from Best Book Summary worth RM108.
New faces in the MIA Council
Here’s an opportunity to study an integrated and logical approach to decision-making based on financial modelling. To be held on 1-2 December at Prince Hotel and Residence, Kuala Lumpur, the session is entitled ‘Advanced financial management and modelling using Excel’. It will complement your existing financial knowledge with advanced modelling tools and techniques for improved accuracy and efficiency. An exclusive 10% discount will be given to members of CIMA Malaysia. View the event brochure at www.cimaglobal.com/en-gb/Our-locations/Malaysia/Events/ or email CherrieK@marcusevanskl.com for more information.
Business analytics workshop Solve day-to-day challenges better and learn how you can break free from out-dated modes of thinking by utilising business analytics - the next generation tool. This two day workshop will be conducted by Mr Aubrey Joachim FCMA, past president of CIMA, who has over three decades of experience in the field. He will present on the sophisticated use of analytics and how this will aid in strategy identification, effective decision making and successful execution. The workshop will take place on 5-6 December in Kuala Lumpur and 7-8 December in Singapore. To register, please call 03-2719 5528 or visit www.liquidlearning.com.my. CIMA members will enjoy a 10% discount off the registration fee.
Upcoming graduation ceremony Mr Abdul Rahim Abdul Hamid
Y Bhg Datuk Mohd Nasir Ahmad
The council of the MIA announced on 8 August that Y Bhg Datuk Mohd Nasir Ahmad has been elected as its new president while Mr Abdul Rahim Abdul Hamid has been elected as the vice president of the Institute. Both of them will serve the Institute for two years effective 8 August 2011. The complete list of the MIA Council line-up can be obtained from www.mia.org.my
Mark your calendar! 5 November has been earmarked for the graduation and certificate presentation ceremony. In attendance will be students who have completed the CIMA exams and members who have been admitted to the Institute in 2010 and 2011. Students who have completed the CIMA exams will receive a certificate while new members will be presented with their membership scrolls. Bring your friends and family members to share in the joy of your achievement. Further details on the ceremony can be obtained from Ms Saritha at 03-77 230 286 or email saritha.subramaniam@cimaglobal.com
Upcoming Events Date
Title
Venue
27 Sep
Malaysian Business-CIMA Enterprise Governance Award presentation ceremony
Prince Hotel and Residence, Kuala Lumpur
21 Oct
One day workshop on ‘The impact of fair value on the financial statements of a company’
CIMA Malaysia office
5 Nov
Graduation ceremony
Taylor’s Lakeside campus
25 Nov
CIMA Negeri Sembilan Network annual dinner 2011
Klana Resort, Seremban
1-2 Dec
Advanced financial management and modelling using Excel (event supported by CIMA Malaysia)
Prince Hotel and Residence, Kuala Lumpur
5-6 Dec
Business analytics workshop (event supported by CIMA Malaysia)
Kuala Lumpur
6 Dec
National Award for Management Accounting (NAfMA) 2011 dinner and award presentation
One World Hotel, Petaling Jaya
7-8 Dec
Business analytics workshop (event supported by CIMA Malaysia)
Singapore
Lessons from Lake Como During the past weeks, I've been blessed to have been able to share the ‘Lead without a title’ message with audiences in Nairobi, Atlanta, Mauritius, Colombo and Cape Town. Here are some of the fast takeaways from this trip across multiple time zones: • Every moment in front of another human being is an ‘opportunity’ to express your highest values and best self. • No matter where you go, people treat you the way you treat them. • No work is unimportant work. Even the most seemingly insignificant job is a chance to show us your creativity and make a contribution.
Join the Toastmasters Club CIMA Malaysia Toastmasters Club ended their last term on a high note with the Distinguish Club Award. Moving ahead, a dynamic year has been planned starting with the election of a new Exco for the term 2011/2012. The event took place on 15 July at the scenic Secret of Louisiana Restaurant in Kelana Jaya with a Mexican dinner spread, dance performance, games and lucky draws. The CIMA Malaysia Toastmasters Club meets every 1st and 3rd Wednesday of the month at 7.00pm at the divisional office. Meetings are based on a mutually supportive and learning environment to help a person grow and foster self-confidence. If you’re interested in joining, you may contact any of the following: Steven Yong: 016-651 8200, yongsteven7@gmail.com
• ‘Perfect moments’ can happen in the least likely of places.
Lee Mei Foong: 012-937 5857, meifoong2306@hotmail.com
• Mastery matters.
Leong Soo Qi: 012-221 9808, sooqi.leong@gmail.com
• If you're not lifting others up, you're bringing others down. • This time is the ‘best’ time for each of us to show our leadership + virtuosity + humanity. (extracted with permission from www.robinsharma.com)
MALAYSIA OFFICES CIMA MALAYSIA DIVISION
Lots 1.03b and 1.05, Level 1 KPMG Tower, 8 First Avenue Bandar Utama 47800 Petaling Jaya, Selangor T. +60 (0)3 77 230 230 F. +60 (0)3 77 230 231 E. kualalumpur@cimaglobal.com www.cimaglobal.com/malaysia
CIMA PENANG BRANCH
Suite 12-04A, 12th Floor Menara Boustead Penang 39, Jalan Sultan Ahmad Shah 10050 Penang T. +60 (0)4 226 7488 / 8488 F. +60 (0)4 229 0488 E. penang@cimaglobal.com Contact: Mr Jack Ong
CIMA SARAWAK BRANCH / SABAH NETWORK Sublot 315, 1st Floor No 21, Jalan Bukit Mata 93100 Kuching, Sarawak T. +60 (0)82 233 136 F. +60 (0)82 233 139 E. sarawak@cimaglobal.com Contact: Ms Doreen Tan
PERAK NETWORK
CWC & Company 112-1, 1st Floor, Jalan Kampar 30250 Ipoh, Perak T. +60 (0)5 255 0392 F. +60 (0)5 253 4253 E. cwcco@tm.net.my Contact: Mr Cheang Wai Choong FCMA
MALACCA NETWORK
Diehl Metal Malaysia Sdn Bhd Lot 12, Kaw Miel, Phase III Batu Berendam, FTZ 75350 Malacca T. +60 (0)6 282 3922 F. +60 (0)6 282 8995 E. ychew@dmm-griset.com Contact: Ms Yennie Chew
NEGERI SEMBILAN NETWORK
Contact: Mr Paul Valluvan ACMA (Chairman) T. 019-684 6439 E. paulvalluvan@gmail.com Ms Stacy Tang ACMA (Honorary Secretary) T. 012-680 2166 E. stacyhmt@yahoo.com
REGIONAL OFFICES CIMA AUSTRALIA
Suite 1305, 109 Pitt Street Sydney NSW 2000, Australia Tel. +61 (0)2 9376 9900 Fax. +61 (0)2 9376 9905 E. sydney@cimaglobal.com www.cimaglobal.com/australia Contact: Mr Paul Turner
CIMA CHINA
1508A Azia Center 1233 Lujiazui Ring Road P.R. China T. +86 (0)21 61601558 F. +86 (0)21 61601568 E. shanghai@cimaglobal.com www.cimaglobal.com/china Contact: Ms Vicky Li
CIMA HONG KONG
Suite 2005, 20th floor Tower One, Times Square 1 Matheson Street Causeway Bay, Hong Kong T. +852 2511 2003 F. +852 2507 4701 E. hongkong@cimaglobal.com www.cimaglobal.com/hongkong Contact: Mr Damian Yip
CIMA SINGAPORE
3 Phillip Street Level 19 Commerce Point Singapore 048693 T. +65 6824 8252 F. +65 6824 8334 E. singapore@cimaglobal.com www.cimaglobal.com/singapore Contact: Ms Shavonne Sim
CIMA SRI LANKA
Colombo office 356 Elvitigala Mawatha Colombo 05, Sri Lanka T. + 94 (0)11 250 3880 F. + 94 (0)11 250 3881 E. colombo@cimaglobal.com www.cimaglobal.com/srilanka Contact: Mr Bradley Emerson
CIMA World Conference 2011 24 - 25 October 2011 | Cape Town SA
Business in tomorrow’s world - a sustainable future CIMA is holding its third World Conference in Africa for the first time. This conference will be taking place at the Cape Town International Convention Centre from 24 – 25 October. The CIMA World Conference is the global event for professional accountants in business. Sustainability is on political and business agendas around the world and is the theme of this year’s CIMA World Conference. There are many new ideas and theories of what a truly sustainable business model looks like. Chartered Management Accountants have a key role to play in developing sustainable business models to ensure future growth and business success.
How will this conference benefit your company? In reviewing financial trends in a borderless world, you will be given the tools to interpret the Code of Corporate Governance with the view to global reporting; and bring back information that can be put to use in developing sustainable strategies for your company. This event will give attendees a fresh outlook on increasing performance without increasing resources and offer real tools for raising the long-term profitability of your companies.
The CIMA World Conference is the ideal platform to debate and discuss the challenges.
in association with
Why should you attend? • Join world-class business leaders to gain exclusive insight into top-line thinking on the future of finance. • Find out how world-class organisations are leading the way in the aftermath of the global recession. • Learn how sustainability has become a business imperative led by management accountants across the globe. • Opportunity to network with 600 global finance and business leaders from around the world and particularly from the continent. • The CIMA World Conference can form part of your annual CPD plan or contribute 14 hours or 10 CPD points.
Contact us for more information T. +27 (0) 11 788 8723 E. wc2011@cimaglobal.com
Secure your place today and take advantage of the special early bird rate valid until the end of August.
official partners
To book your place or find out more about the conference visit www.cimaglobal.com/worldconference
www.cimaglobal.com/worldconference