Malaysia’s Re-launched Corporate Treasurers Association Aims for SMEs
The Malaysia Association of Corporate Treasurers (MACT) has been formally re-launched after 13 years at an event in the icountry’s capital of Kuala Lumpur.
MACT was first established in 1996 but the Asian financial crisis that broke the following year resulted in the association becoming dormant since 2000. The association was reactivated earlier this year through the initiative of corporate treasurers from major corporations in Malaysia and is actively promoting its services to small and medium-sized enterprises (SMEs).
“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.
“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.”
A keynote speech was delivered at the event was delivered by Malaysia’s deputy minister of finance, Datuk Ahmad Maslan, who spoke 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.
His speech also addressed the move towards a cashless society and the move for Malaysia to become a world class treasury management centre.