The following story is based on an actual series of events, with some names and circumstances fictionalised. Any similarity to any person’s name, character, or history is coincidental and unintentional. It is about special needs trust and how it works in the real world.
Elsie thought she had it all when she walked down the aisle with her beau and then to be blessed a year later with a beautiful bouncy baby, Ann.
Little did she reckon that life would be cruel. It all started one afternoon when little Ann turned blue. It was heart-wrenching for her to see the baby so sickly with her life hanging on a thread. But Ann was a fighter. She survived but became mentally handicapped.
A much relieved Elsie prepared herself for the long haul of bringing up a special needs child. Her whole life was now dedicated to Ann, which took a toll on her relationship with her hubby. They grew more and more apart, and it eventually led to a divorce.
As a single parent of a child whose condition requires special attention, Elsie juggled between work and caring for her child. We were always overhanging and worried that Ann should not be around to care for her.
A friend advised her to set up a Trust for her daughter, but she brushed off the idea, mistakenly thinking that it was something in the League of the Rich. She took comfort that she had many siblings and started to set aside money for her brother to use for Ann’s maintenance, just in case.
Unfortunately, Elsie and her brother both died in a car accident. The money kept by the brother for Ann was frozen in his bank account, pending a letter of representation from the courts. In the meantime, the immediate needs of the special child were left unattended while the uncles and aunties bickered about who should take care of her and who should advance the money for the maintenance costs. Ann became nobody’s child.
Elsie could have averted such a situation by setting up a Special Needs Trust with a trusted company to take care of her medical needs and maintenance. With increasing awareness and understanding, more people now know it is not true that a Trust can only be set up by wealthy people.
In this case, she could have started by using her life insurance policy, unit trust investments, or even money in her bank account as the source to fund her Special Needs Trust instead of placing it in her brother’s account. Even if the sum is modest, she could set it up first and then increase it over time. In fact, the cheapest and fastest way to set up a trust is to fund it with a life insurance policy.
Through the Special Needs Trust, she can also instruct the trustee to use the trust properly to pay for the upkeep of the house where her child is staying and maintenance costs for supporting the child. Instead of relying on help from relatives, she could also have instructed the trustee to make regular maintenance payments out of the income earned from the trust property.
Generally, it is also better to appoint a licensed trust company instead of an individual to be the trustee because an individual is liable to die, fall ill or meet with an accident, become incapacitated, or even become bankrupt.
Besides these problems, other possible risks may arise, such as monies being handled dishonestly or incompetently and failing to cater to the child’s care. For those parents who have children, whether with special needs or not, give them a good head start in life by planning and setting a special needs trust specifically for them, especially if you are a single parent.
Rockwills International Group, now in its 28th year, pioneered professional will writing in 1995 and has since evolved into the leading estate planning specialist in the country. It is today the largest provider of solutions and support services in trusts, succession, management, and distribution of wealth. It has shareholders’ funds exceeding RM50 million. It has done over 280,000 wills and 15,000 trusts and holds more than RM25 billion in assets under trust.
Millennials and Gen Zs are increasingly becoming the main players in the economy. They are the future of our country, but these younger generations face challenges that have never been experienced before.
On the education side, did you know that 390,000 out of 560,000 SPM candidates opted to join the workforce immediately after the exam, while the remaining 170,000 students were interested in continuing their studies?
This goes to show that the Malaysian education sector is taking a back seat. Instead, they are eager to earn money as fast as they can and as much as they can.
With that in mind, Smart Investor spoke to Dr Sanjay Sarma, the new CEO, president, and dean of Asia School of Business (ASB), to get his insights on his plans at ASB and about the youths.
Dr Sanjay Sarma, CEO, president, and dean of Asia School of Business (ASB)
Smart Investor: Congratulations on your appointment as the CEO, President, and Dean of the Asia School of Business. What makes you join this prestigious organization
Dr Sanjay Sarma: Thank you! Several reasons. First, the previous deans, the staff, and the students have built an amazing platform. Second, Malaysia is, in my view, a geopolitical epicenter, given everything happening in supply chains, sustainability, innovation, and energy systems.
Third, Malaysian education sector will transform in the coming years for many reasons: the growth of online education, the growth of micro-credentials, the emergence of artificial intelligence, and the changes in how we work. With all this, ASB is a unique platform from across the world from which to embrace the future.
SI: What do you plan to achieve during your time here? And what are some of the ideas that you want to push through?
DSS: The points above set the direction. First, I want to double down on a central tenet of ASB: a pedagogy based on action, which we call action-learning. This pedagogy extends to how we deliver materials (we don’t deliver typical ‘lectures’), how classes become studios, and how we engage with the real world.
Second, ASEAN is a fascinating case study in progress with a diversity of all kinds. This includes cultural, economic, geopolitical, biological, and social forms — and our research-oriented faculty continue to deliver great insights on all fronts. I want to expand that.
Third, I would like to increase our focus on the education of working professionals. I believe that the Malaysian education sector cannot end with a degree. At MIT, we called it agile, continuous education. I would like to embrace that mantra — something the School has already made great strides in — and expand it greatly.
SI: How do you see Malaysia’s education compared to its peers in the region?
DSS: What can be done to improve the situation further? I am of the belief that the way we educate has to change quite fundamentally. The rise of tools such as ChatGPT means we need a new class of graduates who can outperform technology.
Education worldwide — Malaysia, China, India, and the US — is not prepared for these challenges. And it needs to evolve and evolve rapidly. We need problem solvers, critical thinkers, and doers to solve the problems we are leaving for the next generation.
SI: With AI gaining traction (ChatGPT as an example), it opens up many possibilities. Instead of asking Google, we can ask AI and get a comprehensive answer. What will this mean to the future of the Malaysian education sector?
DSS: Well, it vividly points out the pole star we should shoot for. What are the things that AI and robotics, and other technologies cannot do that we should be preparing our graduates for? Of course, if we prepare robots, we cannot lament the loss of jobs to robots.
But the human mind is boundless. We must break the curricula we have trapped ourselves in — often remnants of the colonial era — and create people who can provide the creativity, ethical frameworks, and inspiration to take on the rising inventory of challenges.
This might all seem like empty inspirational talk, but our students at ASB have convinced me that we have this potential. And at events we have hosted, such as the International Women’s Day and the Leadership for Enterprise Sustainability Asia (LESA) Conference, we saw precisely the sort of role models we could aspire for.
SI: How do you see the importance of education in today’s youth? Are they still interested in furthering their studies?
DSS: I have never met a young person disinterested in learning. Curiosity is the most fundamental aspect of learning and is impossible to extinguish. I have, however, met many people who are disaffected with how we teach. That’s a different matter; as I said earlier, we need to fix that urgently.
That was true before COVID, climate change concerns, and ChatGPT. It is even more urgent today. As mentioned, at ASB, we are all about action – and I believe classrooms need a more engaging, thought-provoking nature for the next generation to be prepared.
SI: What are the different ways of making money today compared to the ’90s and 2000s? Is higher education still necessary to be making a decent living these days?
DSS: The last century saw the growth of corporations — scale was achieved through size. Now we are seeing the rise of the gig economy. Moreover, more and more approaches to generating income are technology and innovation-driven. Just ask a taxi cab medallion owner from a decade ago who did not see Uber coming.
Subscription models are another trend — services are more and more subscription-driven, whether it is Amazon Prime or Netflix. Living and thriving in this world requires mental agility. Education — done right — is one way to ensure that. You can no longer assume you will be employed for life and live in a company town.
You have to become the CEO of your own life. In many ways, the MBA is about that too. (Ergo, ASB).
SI: In your opinion, what’s the major concern on their minds? (unemployment, low salary, high cost of education, the high price of a property, etc)
DSS: All of the above, but we also see a much greater emphasis on social, and indeed planetary, good. I recommend reading about the Ubuntu philosophy: “I am because we are.”
Young people are similar to young people a generation ago, with one key difference — a sense of the collective good.
SI: What are your thoughts on YOLO (you only live once) and the financial independence, retire early (FIRE) movement that is hugely popular with the youths?
DSS: We live in an era of unicorns. That drives this partly. But unicorns are mythical creatures, and the valuations of some of these unicorns have been mythical too. How can a young person who lives in this era not be tempted? I don’t blame them, though I don’t recommend it.
It’s no different from buying lottery tickets today; these young people must bet everything in that YOLO moment. It is up to educational professionals to draw them back into reason and away from betting their lives away.
SI: Are the youths of today more financially savvy? And where do they normally invest?
I don’t believe they are more or less than a generation ago. It’s just the opportunities are different. They live in a far stormier sea and are often likely to bet on extremes (swing for the fence, as Americans might say). Crypto is an example.
Again, it comes down to educators to fix the Malaysian education sector so that our youth enter the next decade prepared to take on the challenges we are leaving them.
SI: Any advice to the youths out there facing the future?
DSS: Money chases intelligence, not impulsiveness, and luck sides the brave, not the reckless. Education can help you find the dividing lines.
We would like to wish Dr Sanjay Sarma and ASB all the best!
The recent collapse of Silicon Valley Bank (SVB) triggered mass panic in which the contagion effect have unfurled ramifications across the traditional finance industries. One of the main reasons in the SVB post-mortem is the lack of advanced cutting edgetechnologies for risk and regulations in the fintech sector.
In light of SVB and the FTX collapse, people started flocking toDeFi (Decentralised Finance) platforms. the recent collapse of FTX and bank runs actually underscores the need for a more decentralized financial system. When centralized institutions fail, there is no safety net to protect investors. DeFi distributes the risk across a network of users and smart contracts, making it less vulnerable to individual failures. traditional banks started to feel the pressure.
They realized that they needed to adapt or risk becoming obsolete. They started to explore the use of blockchain technology and DeFi, incorporating these systems into their existing infrastructure.
In other words, the collapse of FTX and the subsequent bank runs marked a turning point for the banking industry. It showed that traditional banks were no longer the only option for financial services. DeFi offered an alternative that was transparent, secure, and accessible to everyone. And as more people embrace this new system, the future of banking looks brighter than ever.
Smart Investor recently interviewed Terrence Hooi, CEO and Co-Founder, Singular Technologies to find our more about this topic. But before that, let’s begin by understanding more about non-custodial DeFi.
Terrence Hooi, CEO and Co-Founder, Singular Technologies
Non-Custodial DeFi
Non-custodial DeFi does not require regulatory controls because it is designed to be trustless and decentralized. Unlike centralized financial systems, where a central authority controls the flow of funds and is responsible for ensuring compliance with regulations, non-custodial DeFi operates on a peer-to-peer basis without intermediaries.
In non-custodial DeFi, users have complete control over their funds and can transact directly with each other using smart contracts. These contracts are self-executing and enforceable, meaning that transactions are executed automatically without the need for human intervention.
Since there is no central authority or intermediary involved, there is no need for regulatory controls to ensure compliance. Instead, the rules of the system are built into the code of the smart contracts, which are transparent and auditable by anyone. But again, Singular wants to actively work with regulators like DFSA and MAS Singapore.
Additionally, non-custodial DeFi is designed to be permissionless, meaning that anyone can participate in the system without needing permission from a central authority. This makes it more accessible to a wider range of users and reduces the potential for discriminatory practices or exclusionary policies.
Overall, non-custodial DeFi’s trustless and decentralized design makes it less vulnerable to fraud, hacking, or other forms of malfeasance that regulatory controls are designed to prevent. Instead, its transparent and auditable nature allows the system to self-regulate and enforce compliance with its own rules.
Singular Technologies recently launched a new institutional gradeatomic settlement platform – aptly called “Singular” – that is built on decentralized finance (DeFi) infrastructure. Atomic settlement is a technology that allows for simultaneous execution of multiple transactions or exchanges, reducing the risk of failed transactions or malicious attacks.
Singular’s DeFi platform has been recognized with numerous awards, including the Bold Awards 20’ Europe, Top 10 Fintech Startup, APAC, StartupWorldcup Regional Top Winner 22’, Alibaba Cloud Innovation Awards 22’, and ORIGIN Web 3 Top Disruptor 22’.
Smart Investor: What is the outlook on Stablecoins with looming recessionary and geopolitical pressures?
Terrence Hooi: With regards to the outlook on stablecoins in the face of looming recessionary and geopolitical pressures, there are a few different factors to consider:
1. Potential for increased demand: During times of economic uncertainty, people may turn to stablecoins as a safe haven asset. This could lead to increased demand for stablecoins, which in turn could drive up their value.
2. Potential regulatory challenges: Stablecoins are still a relatively new and unregulated asset class, and regulators may become more concerned about their potential to destabilize financial systems during times of crisis. This could lead to increased scrutiny and regulation, which could impact the growth of the stablecoin market.
3. Impact of inflation: If the recessionary pressures lead to high inflation, stablecoins could become more attractive to investors as a hedge against inflation. However, if stablecoins are not properly backed by assets, they could lose their peg and become vulnerable to inflation.
4. Geopolitical risks: Geopolitical risks can have an impact on the value of stablecoins. For example, if a country decides to ban the use of stablecoins or restrict their circulation, this could lead to a decrease in demand and value.
SI: Why did you and your co-founders decide to launch this product? What are 3 pain points or areas that Singular Technologies’ product addresses which other digital banking solutions or cryptocurrencies do not? How are you unique?
TH: The current state of DeFi Apps are notoriously complex to use and it is not a skill everyone can master. One of the main challenges facing DeFi today is the accessibility and scalability with subpar UX.
The very wealthy have always been able to afford to pay expensive money managers to manage and invest in Crypto, but financial APIs and DeFi in the late ‘Tens’ let Singular extend a similar service to people with a ~$10k net worth instead of ~$5M using Distributed Ledger Technology for the unbankable in emerging markets.
The current financial system is slow and expensive. For example, if you look at global remittances today using ACH or SWIFT, it is often slow and expensive ~2–3days. Compare that to stablecoins like USDC, which maintains a peg to the US dollar, it takes ~3 minutes without relying on any intermediaries.
Singular (SD) is an all-in-one banking and financial services platform for cryptocurrency users. Singular aims to outperform banks using the best elements of DeFi.
SI: Which markets are you currently active in? Any new entries planned in the near term? How has MRANTI assisted you in growth and expansion plans?
TH: US, Singapore & Japan. Japan have always been a hub for innovation, and we are excited to be a part of this thriving community with the help of MRANTI & MaTrade. Our new office will allow us to provide even better support and services to our Japanese users, as well as to collaborate with local partners and experts in the DeFi space.
The Founding team has expertise in building institutional-grade Crypto Exchanges capable of processing 2 million orders per second and building decentralized finance platforms for institutions.
SI: How is your new product purpose-built to promote financial inclusiveness ie banking of the unbankable?
TH: One of the key features of our platform is that it allows users to easily convert between traditional fiat currencies and cryptocurrencies. This makes it easy for users to participate in the global financial system and take advantage of the benefits of decentralized finance.
Our platform is different from traditional financial institutions in that we do not require users to have a traditional bank account or credit history. Instead, our platform is designed to be user-friendly and accessible to anyone with a smartphone and an internet connection. This is particularly important for the unbankable, who may not have access to traditional financial services due to a lack of documentation or credit history.
SI: So how does a person “buy” a stablecoin / Singular Token? What’s the minimum sum / volume or amount?
TH: Min can be as little as RM 100 and can it be traded, exchanged, borrowed, lent to only those w “stablecoins” or is it open to participate in any other crypto exchange?
We’re currently working with an internationally compliant fiat-gateway Xanpool, to allow users from Indonesia, Malaysia, Singapore , Hong Kong, Thailand, Vietnam, south Korea, India, Phillipines to easily use a bank account or CC to purchase Stablecoins like USDC or major cryptos like BTC and ETH.
SI: How do you ensure that your stablecoin remains stable and maintains its peg to the underlying asset, especially during periods of market volatility?
TH: The potential benefits of Stablecoins like USDC or Tether, which are now available on the Singular App. One of the key advantages of Stablecoins is their ability to maintain their peg to the underlying asset, even during periods of volatility. Assets backed USDC for instance is registered with FinCEN and regulated by 46 regulators.
This is particularly important in the context of decentralized finance (DeFi), where users are increasingly turning to Stablecoins as a way to mitigate the risk of market fluctuations. By providing users with access to Stablecoins, platforms like Singular App are helping to make DeFi more accessible and user-friendly for a wider range of users.
Stablecoins like USDC or Tether are designed to maintain their value through a number of mechanisms, such as backing the coin with a reserve of the underlying asset or using algorithms to adjust the coin’s supply in response to changes in market conditions. This ensures that the value of the Stablecoin remains stable, even in the face of market volatility.
In addition, Stablecoins can be used for a wide range of purposes, such as trading on decentralized exchanges, paying for goods and services, or as a store of value. This versatility has made them increasingly popular among users who are looking for a reliable and stable alternative to traditional cryptocurrencies.
Overall, the availability of Stablecoins like USDC or Tether on the Singular App represents a significant step forward for the DeFi industry. By providing users with access to Stablecoins, platforms like Singular App are helping to make DeFi more accessible and user-friendly for a wider range of users.
SI: Can you explain the process of creating and redeeming the stablecoin, and how do you ensure that the collateral backing your stablecoin is secure?
TH: The process of creating and redeeming Stablecoins on the Singular App is relatively straightforward. To create Stablecoins, users can deposit the underlying asset (such as USD) into a collateral pool on the Singular App. The app then mints an equivalent amount of Stablecoins, which can be used for trading or other purposes within the platform. To redeem the Stablecoins, users can simply exchange them back for the underlying asset in the collateral pool.
To ensure the security of the collateral backing of the Singular token, the platform uses a number of mechanisms. One of these is a smart contract that is designed to automatically liquidate collateral in the event that its value falls below a certain threshold. This helps to ensure that the value of the collateral backing the Singular token remains stable and secure.
In addition, the platform uses a combination of on-chain and off-chain mechanisms to monitor the value of the collateral pool in real-time. This helps to ensure that the collateral backing the Singular token is always sufficient to maintain the value of the token.
As Singular continues to develop its platform, it plans to roll out its own native token that is privacy-based. This token will be backed by a collateral pool, similar to the Stablecoins, and will provide users with even more flexibility and functionality within the decentralized finance ecosystem.
Overall, the use of Stablecoins on the Singular App represents a significant step forward for the decentralized finance industry. By providing users with a stable and reliable means of transacting, Singular is helping to make DeFi more accessible and user-friendly for a wider range of users.
SI: How do you plan to scale your decentralized finance solution to accommodate a growing user base, and what challenges do you anticipate in the process?
TH: Singular Milestones 2023
i.Smart Contract based Privacy Token.The Singular Token will be implemented with a smart contract that is ERC-20 compatible as well as privacy-preserving features such as zero knowledge proofs.
ii. To ensure The Singular Token on theSingular DeFi platform are private, the privacy token will utilize zero-knowledge proofs. Allowing two parties to prove the validly of transaction without revealing any information about the transaction while maintaining the integrity of the blockchain.
iii. To facilitate the trading of Singular Token, a KYC baseddecentralized exchange (DEX) will be built on Singular’s DeFi platform. Holders of Singular Token will be able to use Singular Token for zero fee global transfers, high-yield staking, and access to professionally managed decentralized assets. The platform will have robust security and compliance measures to ensure users funds are safe and secure and that the platform is compliant with regulators.
iv. Lending and Borrowing. To enable landing and borrowing of Singular Token, users can lend and borrow the privacy token, with interest rates determined by supply and demand. The protocol will be implemented as a smart contact on the Ethereum blockchain , ensuring the transactions are completely private while operating in a completely decentralized manner.
SI: How do you plan to handle regulatory challenges related to decentralized finance, and what steps have you taken to ensure compliance with relevant laws and regulations?
TH: Singular aims to submit a regulatory sandbox application with the Monetary Authority of Singapore (MAS) and the Dubai Financial Services Agency. A regulatory sandbox is a testing environment that allows companies to experiment with new technologies and business models while still being subject to regulatory oversight.
By participating in regulatory sandboxes, Singular can work with regulators to ensure that its platform meets all regulatory requirements and is safe and secure for users. It also provides an opportunity for Singular to demonstrate the value of DeFi to regulators and policymakers, potentially paving the way for broader adoption of DeFi in the future.
SI: How do you address concerns around transparency and auditability in your stablecoin decentralized finance solution, and what measures do you take to ensure the integrity of your platform?
TH: Every year, more money is lost in DeFi without the hackers being held accountable, resulting in a diminished sense of security with users. Currently, the largest drivers of crypto adoption are centralized exchanges (CEX) like Coinbase who integrate KYC processes. These regulatory measures issue accountability that lead to consumer confidence which DeFi currently lacks.
The Singular DeFi platform facilitates proper regulatory compliance while maintaining privacy by adhering to critical aspects of the users identity. Singular aims to solve these two major barriers that could led to large scale crypto adoption:
Lack of accountability and security in Web 3
Preserving investor privacy while interacting across DeFi protocols
SI: How do you plan to incentivize liquidity providers to participate in your stablecoin decentralized finance solution, and what benefits do they stand to gain?
TH: Firstly, as a liquidity provider, holders of Singular Dollar will be able to earn a share of the transaction fees generated by the network. This means that the more assets you contribute to the liquidity pool, the more fees you will earn. Our platform also offers additional rewards for early adopters and long-term holders, so you can earn even more as you continue participating in the network.
SI: What future developments do you have in mind for Singular, and how do you see the industry evolving in the next few years?
TH: 2023-2024 Singular DeFi platform that supports DeFi applications, including lending and borrowing protocols, automated market makers (AMMs) and decentralized exchange. The smart contracts will be written in a high-level programming language, such as Solidity, and replied on the blockchain network.
The DeFi platform will earn revenue through fees charged on professionally managed DeFi funds programmed on a smart contract. The platform will charge a management fee for the funds under management, typically ranging from 0.5% to 2% per annum. In addition, the platform may also charge a performance fee of 10% to 20% of profits generated by the fund. The revenue will be used to cover operational costs, pay the management team, and generate profits for the platform.
SI: What advice would you give to someone looking to enter the stablecoin decentralized finance space, and what key factors should they consider before getting started?
TH: Before investing in any stablecoin or DeFi project, it’s important to research the market and understand the risks and potential rewards. This includes looking at the track record of the stablecoin, the team behind the project, and the market demand for stablecoins.
DeFi is a relatively new and complex technology, and it’s important to have a solid understanding of how it works before investing. This includes understanding the basics of blockchain technology, smart contracts, and decentralized exchanges.
As with any investment, it’s important to carefully consider the risks and potential rewards before making a decision.
SI: Some transparency in terms of your reserves – how much is cash, how much is treasury?
TH: Singular Dollar privacy token is not yet launched.
PolicyStreet, an emerging regional insurtech company, has recorded exponential growth in FY22, with its topline growing by five times compared to the previous financial year (FY21) and attaining sum insured of more than USD 6 billion.
Despite the challenging business environment in FY22, PolicyStreet has continued to innovate and deliver tailor-made insurance products and services to its customers. Growing its topline by 500% compared to the previous financial year is a testament to its commitment to technology advancements and its ability to adapt to changing market conditions affected by the rising cost of living and threats of a global recession.
“We pride ourselves in understanding and addressing the unique challenges faced by our customers during these uncertain times, and our success is a testament to our agility and customer-centric approach. With over six years of operational excellence, we’ve amassed a sizable customer base and established ourselves as a rising star in the insurtech industry,” says Lee Yen Ming, Co-founder and Chief Executive Officer of PolicyStreet.
Lee Yen Ming, Co-founder and Chief Executive Officer of PolicyStreet
The increase of PolicyStreet’s sum insured to over USD 6 billion is attributed to the company’s unwavering commitment to making insurance Purposeful and Simple for consumers and businesses.
PolicyStreet’s strong performance has been fueled by its ability to provide tailored insurance products that meet the specific needs of its customers. The insurtech company has identified and served underserved market segments by leveraging technology and industry expertise.
Since obtaining the Reinsurer and General Insurer license from the Labuan Financial Services Authority (LFSA) in 2021, PolicyStreet has been the reinsurer in its partnerships with onshore insurers, enabling the launch of innovative insurance solutions.
The key insurance solutions that drove the positive financial performance include the Digital HR Solution and the Gig Worker’s Claims Platform in collaboration with p-hailing service providers. The two innovative insurtech solutions cater to the underserved and growing gig and digital economy within Southeast Asia, which is expected to reach up to USD 1 trillion by 2030.
“Stakeholders within the digital economies are drivers of the region’s growth, yet they are the most at risk for financial instability. Gig workers are not offered employee benefits due to their freelancing status. In contrast, employees within SMEs can often fall through the cracks due to the lack of access to Group Medical Insurance for SMEs.
“We aim to continue serving the underserved within this market segment, ensuring the gig and digital economy is sustainable in the long run through embedded insurance and the development of insurance platforms. We believe the insurance industry is ripe for disruption, and we are proud to be at the forefront of this transformation,” says Yen Ming.
PolicyStreet is committed to providing inclusive insurance solutions and remaining competitive in its insurance offerings by continuing to leverage its capabilities as a regional full-stack insurtech company.
“By tapping into our underwriting and tech development capabilities to expand our partnership network with leading industry brands and protect more underserved communities, we are confident that we will register strong growth this financial year (FY23) compared to FY22,” says Yen Ming.
The insurtech company specialises in creating effective embedded insurance solutions that address the pain points of both consumers and businesses while incorporating its in-house tech capabilities and strategic partnerships with industry leaders. PolicyStreet is poised for continued success in the years to come and is confident in its ability to deliver value to its customers and stakeholders.
For more information about PolicyStreet and its innovative insurance solutions, please visit https://www.policystreet.com/.
PolicyStreet Co-founders
About PolicyStreet
PolicyStreet is a regional full-stack insurance technology (insurtech) group of companies providing cutting-edge digital insurance solutions to businesses and consumers in Southeast Asia and Australia.
PolicyStreet works directly with over 40 life, general, and takaful providers globally to offer a comprehensive range of products and services, which includes but is not limited to embedded insurance, customised employee benefits, financial advisory and aggregation of insurance, as well as the development of digital solutions to make insurance purposeful and simple for businesses and consumers.
As a licensed Reinsurer and General Insurer by the Labuan Financial Services Authority (LFSA), an approved Financial Adviser and Islamic Financial Adviser by Bank Negara Malaysia (BNM), and a licensee of the Australian Financial Services License by the Australian Securities and Investments Commission (ASIC), PolicyStreet is able to underwrite, customise policies, and provide unbiased advice to its clients and partners worldwide.
Through its regional group of companies, it serves over 5 million customers with over US$ 6 billion in sum insured. In 2022, it was named as one of the 100 Leading Emerging Giants in the Asia Pacific by KPMG and HSBC and was recognised at the Top in Tech Innovation Awards 2022 for Most Value Creation. It was also awarded the Young Entrepreneurs’ Award in 2020 by ASEAN Business Advisory Council (ASEAN-BAC).
Technical analysis is an important tool that traders use to identify potential buying and selling opportunities in the stock market. Support and resistance levels and trendlines are two key concepts in technical analysis that can help traders make informed decisions about when to buy or sell stocks.
In this article, we will explore what support and resistance levels and trendlines are, how they are plotted on a chart, and how they can be used to identify potential trading opportunities.
But is that true by mastering support, resistance & trendline you can make money from the stocks market? Technically yes, if you are using technical analysis to trade a stock and if you are looking to trade in short term.
For longer term, you are advisable to use fundamental analysis as well to study on the company financial health.
Support is a price level where a downtrend is expected to pause due to demand or buying interest. As the price drops, demand for the shares increases and thus forming a support at that area.
It can be seen as an area or zone that is strong enough to stop the stock from falling any further. Therefore, traders and investors use support as part of their decision-making tool.
Buy At Support
Some investors buy shares at support level as they expecting the share price will bounce back upward if the price does not break the support level
Sell When Price Break The Support Level
Investors also use support level as a cut loss point if the price keep falling and break the support
Resistance is opposite to support. Resistance is a price level an uptrend is expected to pause due to selling pressure. As the price increasing, early buyer starts to sell the shares to take profit and thus forming a resistance at that area.
It is an area or zone that is strong enough to stop the stock from getting higher. If the resistance level is very strong, the price may reverse and drop lower.
But what if the price breaks the resistance? When the price breaks the resistance level, this is called as breakout.
A quality breakout is when the price breaks the resistance with high volume. This indicates high demand in the stock as more buyer attracted to the stock and willing to pay higher price.
Sometimes breakout happens when there is positive catalyst related to the company such as increase in earnings, strong quarter / annual result, good news and etc.
What Is Trendline?
Sometimes trendline can be considered as trendline support and resistance levels. Trendline can be upward sloping or downward sloping. Since the stocks market move in trend, trendlines are often used to identify uptrend and downtrend.
Trendlines connect significant highs together or significant lows together. For a trendline to form we need to see at least three touches.
Why It Is Important To Identify Trendline?
The answer is to help determine the current direction of market prices. Have you heard from technical analysts saying trend is your friend until it bends? Identifying uptrend stocks is the first step to perform a good trade. Look for an uptrend stocks, hold the stocks and exit when the trend starts to bend.
Conclusion
Support, resistance levels and trendlines are powerful tools in a trader’s arsenal that can help them identify potential buying and selling opportunities in the stock market. By understanding these concepts and how they can be used, traders can make more informed decisions about when to buy or sell stocks.
As with any trading strategy, it is important to conduct thorough research and analysis before making any trading decisions based on support and resistance levels and trendlines. With practice and experience, traders can become more proficient in using these tools to navigate the complex and ever-changing landscape of the stock market.
The world of stocks may be thrilling and terrifying for an investor or trader. However, it is crucial to understand what a stock is and how it functions before diving into the 3 types of stocks.
A unit of ownership in a firm is represented by a stock, also called a share. Purchasing a stock makes you a shareholder, giving you a stake in the company’s success or failure.
The stock price will typically increase if the business does well, allowing you to sell your shares for a profit. If the business performs poorly, the stock price could drop, and you could lose money.
Now you know what a stock is, let’s examine the 3 types of stocks and who they might be good for.
Investments in speculative stocks have a high risk/high reward ratio. These stocks are typically linked to tiny or fledgling businesses with great growth potential but entail many risks.
Investing in speculative stocks can include risk due to the fact that they are frequently unproven and don’t have a successful track record. However, there is a sizable chance for profit if the business succeeds.
Generally, speculative stocks are best suited for aggressive investors who don’t mind taking on more risk. This kind of investor is prepared to take the risk of substantial gains in exchange for the possibility of sizable losses.
Penny stock less than RM1 per unit, or even valued at just a few cents (hence the name penny), is more prone to speculation. Even though the fundamental of the company is not good, even though the company is making losses, these kinds of penny stocks can be manipulated and make huge returns in hours or days.
The next stock in the list of 3 types of stocks are called defensive stock. Compared to speculative stock, defensive stocks are more stable and less risky. These kinds of stocks are frequently found in sectors of the economy that offer goods or services that consumers will continue to utilise even when circumstances are hard.
Healthcare, utility, and consumer goods companies are a few examples of defensive stocks.
Typically, conservative investors who want to protect their wealth and produce stable, dependable income should stick with defensive stocks. These investors tend to be less risk-tolerant and are prepared to accept lesser returns in exchange for more security.
Cyclical stocks tend to perform well during periods of economic boom but poorly during periods of economic contraction since they are correlated with the performance of the general economy.
Construction, automobile, and travel-related businesses are a few examples of cyclical stocks.
Investors who have a solid grasp of the general economic cycle and are able to predict when certain industries are likely to perform well or poorly are the greatest candidates for cyclical stocks. These kinds of investors are prepared to assume some risk in exchange for the chance of greater profits.
In conclusion, a key component of becoming a good investor or trader is understanding the 3 types of stocks and who they are best suited for. You may allocate your resources wisely and create a well-diversified portfolio by understanding the risks and benefits of each type of stock.
Whether you favour defensive, cyclical, or speculative stocks, you must do your homework and make wise choices based on your unique investment objectives and risk tolerance.
Now that you know the 3 types of stocks, you can make a more informed decision.
Global ReSkilling Movement (GRM), is an initiative aimed towards creating educational opportunities that help individuals around the world upskill and reskill themselves. Advances in technology and automation are constantly reshaping the world, and it’s getting increasingly difficult for employees to remain competitive in the workforce. In Malaysia alone, up to 60,000 people may lose their jobs this year, with retrenchments expected to hit multiple sectors in the country. Globally, the situation is even more dire.
Its mission is to equip 100 million individuals worldwide with quality education, to help them unlock their full potential and transform their lives for a better future. By providing reskilling and upskilling support, the GRM will work towards creating a powerful global pathway towards sustainable economic growth and a better future, with supported individuals up to 10 times less likely to drop out of work and thrive in their careers.
Chief Global Initiator of the Global ReSkilling Movement, Jin Tan, sharing his vision for a better future with quality education
“The McKinsey Global Institute estimates that as many as 375 million workers will have to switch occupations or acquire new skills by 2030 due to artificial intelligence and automation. Research from the World Economic Forum also suggests that if the current pace of workforce upskilling doesn’t pick up, it could take decades for future employees to be ready for the future of work,” said GRM Chief Global Initiator Jin Tan.
“The ability to adapt to new technologies and work environments is becoming increasingly important as the pace of change accelerates. It is a critical component of staying competitive in today’s rapidly evolving job market, and a key factor of long-term career success.”
GRM hopes to improve the global employment landscape with the help of generous sponsors around the world. Contributions from sponsors will be converted into digital learning accounts that focus on career and technical skills education, which will be distributed to individuals in need of improving their lives.
YBHG Datuk Azhar Muhammad D.S.S.A, J.P., Chairman of the Global ReSkilling Movement, sharing about the importance of accessible education in his speech
“Mastering skill areas such as digital literacy, critical thinking, cross-cultural communication, adaptability, and an entrepreneurial mindset, are necessary for any individual aiming for a position of success in the global marketplace. GRM’s mission is to ensure that the process of self-development is as easy and straightforward for everyone as possible,” said GRM Chairman Datuk Azhar Muhammad.
GRM Organizing Chairlady Aimi Salma said the increasingly competitive nature of today’s employment landscape meant workers could not solely rely on technical knowledge to thrive in their careers.
GRM Malaysia Organising Chairlady, Aimi Salma, delivering her speech for the launch
“Technical competency is important, but it is not enough for individuals to thrive in their careers. The workplace is constantly changing, and individuals need to be able to learn new skills when necessary,” she said.
The GRM is built on the foundation of three pillars:
Quality Education: The GRM believes education should incorporate the latest learning trends, promote critical thinking and problem-solving skills, and encourage lifelong learning. Its mission is to equip individuals with the knowledge and skills they need to succeed in the modern world.
Accessible Learning: The GRM believes that learning opportunities should be accessible to everyone, regardless of their financial or social status. It aims to provide education designed to meet the needs of underprivileged individuals who may face barriers to learning.
Increasing Jobs and Boosting Economic Growth: The GRM aims to address the skills gap by providing education programs that align with the demands of the modern job market. By doing so, it can bridge the gap between job seekers and employers, promote career learning and innovation, and contribute to economic growth and development.
Its mission is to equip 100 million individuals worldwide with quality education, to help them unlock their full potential and transform their lives for a better future. By providing reskilling and upskilling support, the GRM will work towards creating a powerful global pathway towards sustainable economic growth and a better future, with supported individuals up to 10 times less likely to drop out of work and thrive in their careers.
“With just a small gift of hope, you can transform lives and invest in our future. Together, we can create a more skilled and prosperous society for all,” said Tan.
To learn more on GRM, please visit www.grm.today today.
Group photo of all guests who attended the official launch and press conference of the Global ReSkilling Movement at ReSkills Hub
About Global ReSkilling Movement
The Global Reskilling Movement (GRM) is an initiative aimed at achieving a better world by providing complimentary education to aspiring learners. For more information, visit their website at https://grm.today/
Investing in the stock market can be a great way to grow your wealth over time. However, the process of buying stocks can seem daunting to many beginners. Fortunately, trading platforms have made it easier than ever to invest in the stock market from the comfort of your own home.
In this article, we will look at how to deposit money and buy stock on the trading platform. Whether you are a complete beginner or an experienced investor looking to switch to a new trading platform, it will provide you with the information you need to get started.
But before that, do you have a shares trading account? If you have yet to have an account, you are invited to open an account with one of the brokers available in Malaysia.
Don’t forget to key in PR1M495 in the Remisier Reference section. A designated Dealer’s Representative will attend and assist you with your account opening.
Now, let’s assume that your account has been created. Next of course you would like to know how to deposit money and buy stock on the trading platform.
2. Next, select your account and click ‘Online Cash Deposit’.
3. Select which bank you would like to transfer your money from, key in the amount and click ‘Confirm’.
4. Key in your Trading Pin and click ‘Submit’.
The money will be updated in your trust account on the following day. Please contact your Dealer/Remisier if you wish to buy stocks as soon as possible. Let’s move on to the next step on how to deposit money and buy stock on the trading platform.
Steps to Buy Stock in CGS-CIMB iTrade Platform
1. Key in the stock code or stock symbol to search for the stock.
2. Right-click on the stock name and click ‘Buy’.
3. Ensure the stock that you intend to buy is correct. Next, follow the steps below:
Insert quantity (in lot)
Insert price
Choose validity
Insert trading pin
Click buy
4. Under ‘Order Book’, select ‘Order Status’ to check on the order made.
5. If your order status shows ‘filled’, it means the order that you placed has been matched. The shares purchased will be showed in ‘Equities Portfolio’ under ‘Portfolio’.
Conclusion
Investing in the stock market can be a rewarding experience, but it requires knowledge, patience, and discipline. Through this article, we hope to have provided you with a comprehensive guide on how to deposit money and buy stock on the trading platform. Different trading platforms may have different layouts and user experiences.
An interactive trading platform may give a better user experience to the users.
Remember to always do your research, diversify your portfolio, and stay informed about market trends and news. By following these principles, you can make informed decisions and build a successful investment strategy.
With the right approach, investing in the stock market can help you achieve your financial goals and secure your future. But it all starts with the first step, which is how to deposit money and buy stock on the trading platform.
For an investor to start investing in Bursa Malaysia, they must open a CDS and share trading account. These two accounts serve different functions. Normally, when you open an account with any broker, these two accounts will be created together.
The whole application process can be done by completing physical offline forms or some brokers will provide online applications. With this online application process, opening a share trading account will be hassle-free.
But before we look at how to open a CDS and share trading account, read below for a deeper understanding of what is a CDS account and a trading account.
What Is A CDS Account?
Central Depository System (“CDS”) is a system that is fully owned and operated by Bursa Malaysia Depository Sdn Bhd (“Bursa Depository”), which provides central bookkeeping of securities and facilitates the settlement of securities transactions in a scriptless manner.
Putting it simply, a CDS account acts like a wallet where you keep the shares that you purchased.
Investors who wish to trade in securities listed on Bursa Malaysia Securities Berhad must open accounts on CDS. Securities bought or sold will be credited or debited into the CDS accounts of depositors accordingly.
There are a few ways you can open a CDS account such as walking into any investment bank/broker, registering online via a website and you can also open a CDS account via the Bursa Anywhere mobile app.
For those who are wondering, an individual investor is allowed to open only one CDS account with each broker. It means that you can have 1 CDS account with different brokers such as Maybank, CGS-CIMB, Malacca Securities, RHB, and many more.
However, a corporate investor may open multiple accounts with the same broker.
It is very easy to open a CDS and share trading account. You have to ensure you have the necessary documents, so the process can be smooth.
Required Documents
There are a few documents that you have to prepare in order to open a CDS and share trading account for an individual. You are required to provide:
Photocopies of NRIC/Passport
Latest 3 months’ bank statements
A copy of the latest 3 months’ payslip
Do you have a trading account? If not, you are invited to open an account with one of the brokers available in Malaysia.
Don’t forget to key in PR1M495 in the Remisier Reference section. A designated Dealer’s Representative will attend and assist you with your account opening. All the best in your investment journey!
Now you know how to open a CDS and share trading account? It is very easy, let’s get started today.
Arthritis is a common condition that affects millions of people worldwide, including Malaysia. Arthritis is a general term that refers to inflammation of the joints, which can cause pain, stiffness and limited mobility. There are many types of arthritis, each caused by factors unique to the disease.
Understanding Arthritis
Dr John Decruz, Consultant Orthopaedic Surgeon at ParkCity Medical Centre
“Osteoarthritis is when the cartilage that caps the bones in your joints wears away causing the bones to grate against each other. Meanwhile, rheumatoid arthritis is a disease in which the immune system attacks the joints, beginning with the lining of joints (synovium). Unfortunately, rheumatoid arthritis affects more women than men, with the ratio of 3 to 1,” says Dr John Decruz, a Consultant Orthopaedic Surgeon at ParkCity Medical Centre.
“In addition to that, there are also joint paints related to gout, which is caused by uric acid build up in the form of painful crystals in the joints and more commonly seen in the younger group around 30 to 50 years of age. This is in contrast with the other types of arthritis that are more prevalent in much older groups. Joint pain may also occur due to an infection, which appears in the form of redness and reduction in range of motion around the affected joint,” he continues.
Some patients may experience joint pain due to a genetic predisposition, which causes their joints to stiffen up and become painful as they age. This can be diagnosed with a thorough family history, inspection and physical examination. Sometimes X-rays may also be necessary. Meanwhile, blood tests will also reveal joint pain caused by autoimmune diseases such as lupus, gouty arthritis and septic arthritis.
Diagnosing Arthritis
If you think you may be suffering from joint-related diseases, it’s best not to delay seeking treatment. However, not all symptoms lead to arthritis.
“Usually, patients begin suspecting of conditions are often marked by a ‘crackly’ sensation or sound that people may experience when performing physical activities, including something as simple as getting up from a chair,” explains Dr John. “However, most of the time, especially if there is only sound without any pain or swelling, it’s harmless. But of course, we can always rule out any potential of the disease with x-ray, blood tests and even MRI.”
X-rays of patients suffering from osteoarthritis will reveal a reduction of the gap between the bones indicating that the cartilage is worn out. There may even be hairline cracks, bone spurs or even bone cysts in more severe cases.
Treating Arthritis
If you’re diagnosed with arthritis, there are many options that you could explore before landing on surgery.
“Nowadays surgeries such as knee or hip replacement surgeries or joint replacement surgeries are often last resort options when the arthritis is no longer manageable. The go-to upon initial diagnosis are supplements such as Glucosamine and Chondroitin; which are often taken together and are believed to help repair and maintain the cartilage in the joints.
“One good thing is our local food is generally rich in turmeric, which contains curcumin that has been proven through studies to have anti-inflammatory properties that could help reduce joint pain and inflammation,” details Dr John.
In addition, an Omega-3 fatty acids-rich diet and vitamin D has also been found to help reduce inflammation of joints.
“And of course, we have medications that are commonly used to treat arthritis, including painkillers, nonsteroidal anti-inflammatory drugs (NSAIDs), disease-modifying antirheumatic drugs (DMARDs) and biologic agents.
“Painkillers such as acetaminophen can help to relieve pain, while NSAIDs such as ibuprofen can help to reduce pain and inflammation. DMARDs such as methotrexate can help to slow the progression of rheumatoid arthritis, while biologic agents such as adalimumab can target specific parts of the immune system to reduce inflammation in the joints,” adds Dr John.
Physical therapy is also an option for effective treatment of arthritis, but Dr John reminds to approach it with caution.
“Yes, physical therapy improves joint function and reduces pain but only start it upon seeing a doctor to get a proper medical diagnosis of the type of arthritis that is afflicting you. I’ve seen cases of patients’ arthritis becoming worse due to premature physical therapy.”
Preventing Arthritis
If you would like to keep arthritis at bay, there are certain measures that can be taken. Similar to the way in which physical therapy is used to reduce pain in joints—through exercises to strengthen the muscles around joints, as well as stretches and range-of-motion exercises to improve flexibility, keeping active will help to keep the onset of arthritis at bay.
“Lifestyle changes is also important in treating as well as preventing arthritis. Maintaining a healthy weight to reduce the pressure on the joints while avoiding excessive inflammatory food such as sugar, fast-food and food fried with processed oil. Eating a healthy diet that is rich in fruits, vegetables and whole grains can also help to reduce inflammation in the body,” advises Dr John.
