Celebrating our 88th anniversary and 30 years in Malaysia

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1 e-momentum ISSUE 01 JANUARY-MARCH 2007 Celebrating our 88th anniversary and 30 years in Malaysia From 1919, the day CIMA was founded in the UK, until 2007 that s 88 years altogether and that s how long we ve been in existence. In Malaysia, our first CIMA office opened on 8 March 1977 at the Plaza Pekeliling in Kuala Lumpur, making us 30 years old this year. We certainly have cause for celebrations in We officially opened our new office in Bandar Utama on 8 March 2007 and that same night, CIMA members and students let their hair down at the CIMA Anniversary Dinner (see accompanying articles on our office opening and anniversary dinner). The CIMA President, Mr John Coghlan FCMA, was in Kuala Lumpur for both events. e-momentum starts its new journey It is inevitable that Momentum will go the e - way going electronic is the way of the future where news get delivered faster and more cost efficiently. So we decided that Momentum will start its new journey in 2007, as we celebrate CIMA s 88 years of existence and 30 years in Malaysia. The 88 th anniversary night Cyberview Lodge Resort & Spa in Cyberjaya was definitely the right choice for the anniversary dinner held on 8 March Guests were greeted by lush greenery and treated to a spectacular view of the resort. The fine weather also played host to the pre-dinner cocktail in the lovely garden. Mr John Coghlan FCMA, President of CIMA, graced the event and the audience also witnessed a multimedia presentation on the new look of CIMA where young, vibrant professionals in smart, striped suits were featured. The new look of CIMA will be carried in all media advertisements on the CIMA qualification. Alan Bligh, the master of ceremony for the night, was a great sport especially when he went from table to table to tease the audience with questions about CIMA. The questions were based on facts a b o u t C I M A w h i c h could be found on the 30 buntings placed all over the resort. The highlight of the night was Jit Murad s performance. Laughter was the order of the night during his 45- minute appearance. A new beginning in Bandar Utama From Pekeliling Plaza in 1977, we moved to IGB Plaza in 1978 and then to Kelana Jaya in We again made history in 2007 with the official opening of the new CIMA office in Bandar Utama on 8 March. The new office is in line with CIMA s brand aspirations reflecting a global institution offering an internationally recognised professional accounting qualification. Mr John Coghlan FCMA, President of CIMA, officiated at the opening ceremony where more than 100 guests attended. Ms Kathy Grimshaw, CIMA Director of International Development, was also present. The new office covers 10,000 sq ft and has facilities such as a WIFI / Internet Kiosk, a spacious library and a fully equipped training room so And the answer is? Mr Alan Bligh at the quiz session. Jit Murad entertaining the crowd with his hilarious jokes. that we can provide better services for members and students. In his welcome address, Mr Michael Eow FCMA, President of CIMA Malaysia, said, We are surrounded by the lucky number 8 8 March 1977 was when we first set up the CIMA centre in Malaysia. Now our new office is located at No. 8, First Avenue, Bandar Utama, which is the address of this building. Besides, the building is shaped like the number 8! Mr John Coghlan FCMA, President of CIMA, and Mr Michael Eow FCMA, President of CIMA Malaysia, at the Opening Ceremony of CIMA s new office in Bandar Utama. We will publish e-momentum on a quarterly basis through the CIMA Malaysia s website at Of course, we will also copies to all members and students so that you can continue to keep in touch with the CIMA happenings in Malaysia. Happy reading!

2 A joyous occasion CIMA members marching into the hotel ballroom for the graduation ceremony. CIMA wins awards Superbrand 2007 CIMA has again been deemed a Business Superbrand for 2007 by the UK Superbrand organisation, an independent authority on branding. For the second time in three years, CIMA has been recognised as a stand-out brand in the business to business (B2B) field along with other international brands such as PWC, Shell, Sony and IBM. A significant number of brands are selected by a team of researchers and then submitted to the council who selects the 1000 top brands. An independent research company then polls more than 125,000 individuals in business to refine the list even further. Website of the Year CIMA won the award for accountancy website of the year at this year s PQ Magazine awards held in London on 20 February The award-winning website, CIMAglobal.com, topped an online poll by readers of PQ Magazine, a monthly publication for part-qualified accountants and beat three other finalists to clinch the title. Students rated the CIMA website highly and their winning comments included: It s easy to use and I always find what I want. As a student I find it has all the information I need, and I can access it quickly. CIMAglobal.com gets better every year. It looks great, works well and is easy to use. Benchmark your company for best practices in management accounting, operational efficiency and business performance through NAfMA, the National Award for Management Accounting. A prestigious annual award, NAfMA has attracted participation from leading Re-register online and pay less for a limited period only It was a joyful celebration for 47 new CIMA members who received their scrolls from Mr Michael Eow FCMA, President of CIMA Malaysia, at the Prince Hotel and Residence on 11 November These Associate and Fellow members received their distinguished membership during the period from October 2005 to October Mr Eow, in his welcome speech, said, We are proud to acknowledge the value placed on the qualification by global employers. Our members and students are expanding into new sectors pioneers in delivering strategic value and innovation. This pattern is repeated all over the world, where our membership is now heavily represented in banking, commerce, finance and financial services, IT and telecoms, as well as the public sector. In conjunction with the ceremony, long service awards were presented. Three Divisional Council members and three Divisional staff received 10-year Long Service awards while 17 other Divisional Council and members from the Branches and Standing Committees received 5-year Long Service awards. IFACnet search engine for members use Developed specifically for professional accountants, IFACnet is a collaborative project launched in October 2006 by CIMA, the International Federation of Accountants (IFAC) and other IFAC member organisations to provide even more resources for accountants worldwide, particularly for those working in small and medium practices (SMPs). Through its easy-to-use interface, this global search engine provides professional accountants with one-stop access to thousands of articles, management tools, good practice guidance, reports and other materials. IFACnet can be accessed on CIMA s website at There is no charge to use IFACnet, although certain search results may identify publications and documents available for purchase. NAfMA 2007 a step towards better business performance companies over the last three years. There are three categories of awards: Companies listed on the Bursa Malaysia Securities Berhad Non-listed companies in Malaysia Non-listed small and medium enterprises (SMEs) with an annual sales turnover of not more than RM25 million. The companies will vie for the NAfMA Excellence Award, Best Practice Award and Practice Solution Award. Call Marini at /9232 or Ross at /355 for more information or download the NAfMA documents from: If your membership has lapsed this year, you can re-register online by 31 May 2007 and save 50% of the re-registration fee. To re-register online, visit My CIMA. Then select 'Application for re-admission with CIMA'. All those who re-register using alternative methods will be required to pay the full re-registration fee. After 31 May 2007 the full re-registration fee will apply whatever your method of payment. For more information, please contact at or visit our website at

3 Institute Bronze Medal recipient Our heartiest congratulations to Divisional Council member, Mr Yeo Tek Ling ACMA, for being awarded the Institute Bronze Medal in Institute medals are only awarded under exceptional circumstances and they are few and far between. Many of you may have met Mr Yeo as he is a very active CIMA member and he has contributed greatly to the accounting profession. You will be amazed at how he packs so many things into his 24-hour days, besides being the Finance Director of Advanced Packaging Technology (M) Bhd. Since 1999, Mr Yeo has been a member of the Council of CIMA Malaysia. He has served in the Membership, Networking and Social Committee for many years in various positions including that of Committee Chairman and Vice Chairman. On the international front, he is a member of the Professional Accountants in Business Committee of the International Federation of Accountants (IFAC). He plays an active role in the Malaysian Institute of Accountants of which he is currently a Council Member, Chairman of the Professional Accountants in Business Committee and the Investigation Committee. Among his pet projects is the National Award for Management Accounting Mr Yeo Tek Ling ACMA (left) receiving the Bronze award from Mr Michael Eow FCMA, President of CIMA Malaysia. (NAfMA). He has been the Chairman of the NAfMA Organising Committee since 2004, the year of inception of the award and was instrumental in getting NAfMA off the ground. Congratulations once again, Mr Yeo! MIA News FRS Implementation Committee formed MIA has formed the Financial Reporting Standards Implementation Committee (FRSIC) in January this year. The main objective of the Committee is to assist MIA members by providing implementation guidance to them. Mohammad Faiz Azmi, FRSIC Committee Member said during the launch of the FRSIC on 30 January, FRSIC assists the industry by giving the preparers and auditors an avenue where they can raise any issues in implementing requirements of the Financial Reporting Standards. Consensus published by the FRSIC will be regarded as best practice which could be referred to by preparers and auditors and also other organisations. It strives to eliminate different practices by different users and hence creates uniformity in applying the requirements of the standards. MIA e-career MIA has created a web portal called the MIA e-career to fulfil the recruitment needs of member firms since one of the many challenges they face is recruiting suitable and qualified employees. The MIA e-career is a web portal that allows accounting graduates with relevant accounting qualifications from the universities listed under Part 1 of the First Schedule of the Accountants Act, 1967, to be employed by member firms registered with MIA. This portal will provide an avenue for these graduates to obtain accounting related jobs as well as encourage member firms to employ qualified graduates. Further enquiries on the web portal should be directed to Thane Meyyappan or Tarana G. Ramchand at ext. 306 and 226 respectively. CIMA Financial Management Awards 2007 (in association with the Financial Times) Nominations are now open for the CIMA Financial Management Awards The deadline for entries is 13 July Categories: TOPCIMA Success award Tutor of the Year Part Qualified of the Year sponsored by FSS Finance Team of the Year - Public Sector Finance Team of the Year - Private Sector Recruitment Consultancy of the Year Financial Management Award for Corporate Social Responsibility Innovation in Management Accounting Employer of the Year sponsored by Hays Accounting & Finance Outstanding Contribution to Business Performance sponsored by Hewitson Walker Updates from CIMA UK Full judging criteria and nomination forms for each category can be found on the micro site. Judging will take place through a short list panel and a final panel. The short list will be announced on the micro site in mid-september and winners will be announced during the Awards ceremony on 29 November Micro site at address for nominations and queries: cima.awards@cimaglobal.com MindPlanning The MindPlanning process is delivered through an online software reinforcement tool, which enables the user to learn and practise the method of structured examination answer planning. From 1 February 2007, MindPlanning is available for both Managerial and Strategic level subjects. For more information and to see a demo, please visit CIMA launches online careers portal CIMA has launched an online careers portal offering CIMA members and students a window of global job opportunities. Through an area on the CIMAglobal website called CIMA My JOBS, employers and recruitment consultants are able to reach the widest possible pool of CIMA-qualified applicants to fill roles at any level. It also enables CIMA job seekers to tailor their search to meet their own specific needs and criteria. The service not only offers access to jobs but to salary survey information, sector-specific descriptions and provides Continuing Professional Development (CPD) support for members. For more information, please log on to

4 A sold-out seminar by Robin Sharma, a leadership guru We did not expect the crowd of nearly 600 people who turned up on 30 January at Hotel Nikko Kuala Lumpur to hear Robin Sharma speak on The Success Practices of the Best Performers Leadership lessons to get you to world-class. Robin was in Kuala Lumpur at the invitation of CIMA Malaysia. The seminar was to kick-off the celebrations for our 88th anniversary and 30 years in Malaysia. The response to this first International Speaker Series for the year was just overwhelming. Such was the pull effect by Robin Sharma, who does not consider himself a motivational speaker but a leadership thinker. Robin says his mission in life is to help people discover their potential and live extraordinary lives in their own remarkable way. Robin has written eight best-sellers including The Monk Who Sold His Ferrari which has gone on to change the lives of countless millions. His latest book is The Greatness Guide. Mr Robin Sharma (right) at the book signing session during break time. Check out his interesting website at Accreditation for CIMA Training and CIMA Development Partners At an Employers Luncheon on 9 March, Mr John Coghlan FCMA, President of CIMA, presented certificates to our new CIMA Training and CIMA Development Partners. CIMA Training provides an effective route for CIMA to work together with employers to ensure that CIMA students are trained to the same consistently high standard around the world and that they will meet the rigorous requirements of membership. CIMA Development is a relatively new scheme that accredits employers for the continued professional development (CPD) of their employees throughout their career. The CIMA Training Partners who received certificates were Shell Shared Services Centre, Silverstone Berhad, TM Berhad, EGL Eagle Global Logistics, ProgramDNA Sdn Bhd and Sunway Shared Services Centre. The CIMA Development Partners were Hewlett Packard Malaysia Sdn Bhd, HSBC Bank Malaysia Berhad, Mitrajaya Holdings Berhad, BP Asia Pacific (Malaysia) Sdn Bhd and Unilever (Malaysia) Holdings Sdn Bhd. Freescale Semiconductor Malaysia Sdn Bhd was also accredited as a CIMA Training Partner. Mr Michael Eow FCMA, President of, presented the certificate to Freescale on 17 January. CIMA Training and CIMA Development Partners with their certificates. Mr John Coghlan FCMA is 7th from left and Mr Michael Eow FCMA is 6th from left. A warm welcome to all! CIMA Malaysia warmly welcomes EGL Eagle Global Logistics (M) Sdn Bhd, Celcom (M) Berhad and Shell Shared Services Centre as our new CIMA Training Partners. We also welcome the following new members of the Malaysia Employers Group: Abex Medical Systems Sdn Bhd Atcen Sdn Bhd Berjaya Sports Toto Berhad Ceremic Material Supply Sdn Bhd Dutch Lady Milk Industries Effective Management Solutions Sdn Bhd Equity Trust (Labuan) Ltd Kong Long Huat Chemicals Sdn Bhd Fulfilling your CPD requirements organised a free workshop on 28 March to give members a clear understanding of the CIMA Professional Development (CPD) policy and also how to use the online CPD Planner. 40 CIMA members attended the workshop, some of whom have given their comments below. I find the workshop very useful especially for members who are so tied up with our daily job. It gives a clear overview of what CPD is all about. has shown its commitment to assist its members in undertaking CPD. Instead of just giving instructions on how to comply, is using a better approach, i.e. assisting the members in completing the return and that the CPD is a tracking tool for the benefit of the members, to identify and close gaps in terms of skills and expertise and chart their progress. - Ong Lian Soon ACMA, Shell Malaysia Trading Sdn Bhd PJ Development Holdings Berhad Shing Yang Sdn Bhd Trisilco Radiance Communications Sdn Bhd Wong Engineering Corporation Berhad Companies that do not have CIMA students under their employment are welcome to join the MEG. There is no charge for membership. MEG members will enjoy various benefits such as discounted rates at training events, access to the CIMA Resume Bank and the use of our Job Notification Service. Please contact the Business Development Unit /358 for more information. I did not know the concept and mechanism of recording my CPD until I attended this workshop. From this workshop, I was guided through the steps to update our CPD records online via the CPD online planner on the website. I have realised the benefits of this CPD policy and appreciate that CIMA is providing this facility to members. Besides, the CPD calendar also helps us to plan our training programmes. - Leow Chee Leong, Lay Hong Berhad Similar workshops are being planned so please mark your calendar for these important dates: 20 June 2007 Penang 22 June 2007 Johor 7 July 2007 Sabah 14 August 2007 Sarawak For more information, kindly contact the respective CIMA branch offices. International Speaker Series on ABC and ABM Coming up on 21 August will be our International Speaker s Series on Implementing Activity Based Costing (ABC) and Activity Based Management (ABM). Mr Aubrey Joachim FCMA, CIMA Vice President nominate, will conduct the seminar in Kuala Lumpur. For registration, please contact Saras or Eileen at /338.

5 The mind is like a garden - as you sow, so shall you reap. When you cultivate it and nurture it, it will blossom beyond your wildest expectation. But if you let the weeds take over, you will never reach your potential. What you put in is what you get out. So avoid violent movies, trashy novels and all other negative influences. Peak performers are meticulous about the thoughts they allow into the gardens of their minds. You truly cannot afford the luxury of a single negative thought. Robin Sharma (extracted from BRANCH ACTIVITIES Education roadshow CIMA Johor Branch took part in the FSI Education Roadshow 2007 on 26 March at the Puteri Pacific Hotel, Johor Bahru, to promote the CIMA qualification. About 400 students from Johor Bahru and Singapore attended the event. CIMA received quite a number of enquiries on accountancy as a career. Gone with the wind Ever tried your hand at making a kite or flying a kite? The CIMA Penang Students Club organised a kite competition for CIMA 1st and CIMA students from the northern region on 15 April at Taman Bukit Dumbar, Penang. The participants had to design and make their own kites and this included splitting the bamboo, drawing the design of the kite, and pasting on the decorated kite paper. They then had to fly the kites for 10 minutes but unfortunately, most of the kites The 2nd kite from the left Victor de Betrayal won the Most Creative Kite. The 3rd kite from the left FIR won the Highest Flying Kite. failed to take off because of an unbalanced structure. Two teams walked away with prizes for The Most Creative Kite and The Highest Flying Kite. Accountancy Awareness Forum CIMA Sarawak Branch took part in the Accountancy Awareness Forum organised by MIA Sarawak together with the State Accountant General s office and State Treasury in Kuching on 28 February. About 60 finance and accounting staff attended the half day forum which had presentations by MIA Sarawak and other professional bodies. A similar event took place in Sibu which was attended by about 30 secondary school counsellors and teachers. A visit to Sibu is not complete without tasting the delicious and well-known Sibu kampua mee as well as a local bun known as kong pia and this was what the team did before flying back to Kuching. CIMA Malaysia Toastmasters Club presents an Evaluation Workshop Want to make that inspiring, meaningful evaluation? Don t know what is expected of an evaluator? Taking part in the evaluation contest at your Club? Then join us! Date : 16 June 2007 (Saturday) Time : 2.00pm 5.00pm Venue : Tickets : RM15.00 Facilitator : G. Sivalingam, ATMS (Past District Secretary and Division level Champion) For further details, kindly contact: Crissy: Parasakti: Andy: Victor: Date 29 May 7 Jun 14 Jun 20 Jun 22 Jun 23 Jun 23 Jun 30 Jun 5 Jul 10 Jul 15 Jul 16 Jul 19 Jul 19 Jul 24 Jul Upcoming Events Events Essentials of meetings and minutes Preparation of cash flow statements Evening talk on Mind Mapping CPD Planner workshop CPD Planner workshop Bowling tournament by CIMA Malacca and Negeri Sembilan Informal Networks High-tea gathering by CIMA Malacca and Negeri Sembilan Informal Networks Closing date for submissions for the CIMA Management Accounting Business Challenge 2007 Introduction to financial instruments (Covering FRS 132 and FRS 139) Creative accounting - looking beyond the normal financial statements Durian party Financial evaluation of investment projects and structuring joint ventures Creative accounting - looking beyond the normal financial statements Financial evaluation of investment projects and structuring joint ventures Finance for non-finance managers Venue Vistana Hotel, Penang Puteri Pacific Hotel, Johor Bahru Ampang Bowl, Mahkota Parade, Malacca Equatorial Hotel, Malacca - Tropical Spice Garden, Penang Hilton Hotel, Kuching E & O Hotel, Penang

6 Awards for deserving students CIMA Malaysia continues to recognise outstanding students from local colleges and universities. Three students from Taylors Business School received the CIMA Book Prize from Mr Francis Chan FCMA, Chairman of the Students Development Committee, on 30 March. They were Lim Kok Long for the subject on Business Strategy, Toh Woo Kim for Cost Management Systems and Rinaldi Lukita Handaya for Corporate Financial Analysis. Four students from TAR College received CIMA s sponsorship to pursue the two year Advanced Diploma in Commerce (Management Accounting). A simple ceremony was held on 6 February where Mr Michael Eow FCMA, President of CIMA Malaysia Division, presented the sponsorship to Ms Lim Yean Wei, Ms Wong Si Yoke, Ms How Min Hwee and Ms Yee Pei Sun. (front row) The four scholars from TAR College with their sponsorship. The Need to Stretch As I wrote in The Greatness Guide "the real risk lies in riskless living.' Stretching and expanding and reaching for personal and professional greatness is the lifeblood of a remarkable life. So today, choose boldness and bigness over playing small. You have a lot more to give and be than you can imagine. Robin Sharma (extracted from MALAYSIA DIVISIONAL COUNCIL 2006/2007 PRESIDENT Michael Eow FCMA IMMEDIATE PAST PRESIDENT Y C Lee FCMA PAST PRESIDENT Y Bhg Dato Lee Ow Kim FCMA COUNCIL MEMBER FOR AREA 16 (SOUTH EAST ASIA) Y Bhg Dato Lee Ow Kim FCMA DEPUTY PRESIDENT Y Bhg Datuk Siti Maslamah bt Osman FCMA VICE PRESIDENT Chandra Mohan Balasubramaniam FCMA HONORARY SECRETARY Lim Kian Hui FCMA HONORARY TREASURER Francis Chan Feoi Chun FCMA COUNCIL MEMBERS Assoc. Prof. Dr A Thillaisundaram FCMA Assoc. Prof. Dr Suzana Sulaiman ACMA Balasubramaniam Veloosamy FCMA Danny Tan FCMA Jeremy Nasrulhaq FCMA Joe Chong Chai Choo FCMA Lee Son Chee FCMA Rathimalar Gnanasundram ACMA Tan Chee Wan FCMA Wong Yeap Min FCMA Y Bhg Dato Idris Bin Md Tahir FCMA Yeo Tek Ling ACMA CONTACT POINTS CIMA MALAYSIA DIVISION Lots 1.03b & 1.05, Level 1 KPMG Tower First Avenue, Bandar Utama Petaling Jaya, Selangor T: +60 (0) F: +60 (0) E: kualalumpur@cimaglobal.com W: PERAK INFORMAL NETWORK CWC & Company 112-1, 1st Floor Jalan Kampar Ipoh, Perak T: +60 (0) F: +60 (0) E: cwcco@tm.net.my Contact: Mr Jeffrey Cheah (Chairman) CIMA SARAWAK BRANCH / SABAH INFORMAL NETWORK Sublot 315, 1st Floor No 21, Jalan Bukit Mata Kuching, Sarawak Tel: +60 (0) F: +60 (0) E: doreen.tan@cimaglobal.com Contact: Ms Doreen Tan e-momentum is published by The Chartered Institute of Management Accountants Malaysia Division Lots 1.03b & 1.05, Level 1 KPMG Tower, First Avenue, Bandar Utama, Petaling Jaya, Selangor T: +60 (0) F: +60 (0) E: kualalumpur@cimaglobal.com W: Advisor: Sopiah Suid Editor: Chan Siew Lian Assistant Editor: Harmini Nair CIMA PENANG BRANCH Suite 12-04A, 12th Floor, Menara PSCI 39, Jalan Sultan Ahmad Shah Penang T: +60 (0) / 8488 F: +60 (0) E: jack.ong@cimaglobal.com Contact: Mr Jack Ong CIMA JOHOR BRANCH 110 & 110A, Jalan Meranti Taman Melodies Johor Bahru, Johor T: +60 (0) F: +60 (0) E: jack.ong@cimaglobal.com Contact: Mr Jack Ong MALACCA / NEGERI SEMBILAN INFORMAL NETWORKS Coats Thread (M) Sdn Bhd 91/2, Tangga Batu PO Box , Melaka T. +60 (0) (DL) F. +60 (0) E. cheewan.tan@coats.com Contact: Mr Tan Chee Wan FCMA

7 NAfMA Awards: Excellence Award Best Practice Award Practice Solution Award Awarded by the Malaysian Institute of Accountants (MIA) and The Chartered Institute of Management Accountants (CIMA) Malaysia Division In the pursuit of world class business performance, we invite public-listed companies, non-listed companies and small & medium enterprises (SMEs) to participate in NAfMA Closing date for submission of application documents: 27 August 2007 For more information, please contact: NAfMA Organising Committee c/o Lots 1.03b & 1.05, Level 1 KPMG Tower First Avenue, Bandar Utama Petaling Jaya, Selangor MIA Contact Person: Ms Marini Abu Bakar T: /9232 E: nafma@mia.org.my W: CIMA Contact Person: Ms Ross Kamaruddin T: /0230 E: nafma@cimaglobal.com W: