The quest for a thousand chartered accountants

Permodalan Nasional Bhd’s (PNB) effort to produce 1,000 Chartered Accountants amongst the Malays is right on course in the strategy of talent building for the high income economy. More over when their sponsored students are achieving world class position.

The Star story:

Wan Nur Mafudah, No 1 world prize winner in ACCA financial reporting


  • NATION
  • Sunday, 18 Feb 2018


  • BESUT: Although advised to forgo her lifelong interest in accountancy, 21-year-old Wan Nur Mafudah Wan Yusof (pic) persevered and proved her mettle.

    Recently, Wan Mafudah, a graduate of the Intec Education College, Kuala Lumpur, enjoyed the fruits of her labour when she was announced as the world prize winner for the Association of Chartered Certified Accountants (ACCA) Financial Reporting paper.

    The success is a historical achievement for the native of Kampung Tok Raja, Jertih, as she is the first Malay to attain number one world-ranking with her score of 95 per cent in the paper.

    Previously, the highest achievements reached by several Malays from 2015 until last year, were as second, third and sixth ranking ACCA World Prizewinners.

    After getting a top score of 8A1s and 1B for SPM, Wan Mafudah, who was also a former MRSM Besut student, pursued her studies in accountancy for one and half years at the Poly-Tech Mara College in Kuala Lumpur before receiving a scholarship from Permodalan Nasional Berhad and continuing her education at Intec Education College.

    Sharing the secret to her success, Wan Mafudah said she liked to practice her knowledge by sharing the knowledge acquired with others as it also helped to increase her understanding.

    “I suggest that emphasis be placed on accountancy, commerce, economics and English from the early secondary school level as these are the foundation subjects in the mastery of accountancy.

    “Early exposure also needs to be given in the basics of Information Technology and mathematics as well as mastery in at least three other languages,” she added. – Bernama

    Read more at https://www.thestar.com.my/news/nation/2018/02/18/wan-nur-mafudah-no1world-prize-winner-in-acca-financial-reporting/#TPGHsjDhpu7l85bl.99

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This is very encouraging as the PNB program, is designed to narrow the gap of professionally trained accountants amongst the Malays.

It was projected earlier when Vision 2020 was put in place over 25 years ago and Prime Minister Dato’ Sri Mohd. Najib Tun Razak’s agenda of the ‘High Income Nation’ as part of the Economic Transformation, 60,000 accountants would be required by 2020.

The Malaysian economy  is already at the RM1,300 billion band. Within three years, it would be in one and a half trillion Ringgit Malaysia band.

A lot of drivers are required to ensure this economic vessel is on course for the voyage towards a high income nation. At the top of the talent requirement are accountants.

At the moment the membership of Malaysia Institute of Accountants (MIA) stands at 35,000. Out that, 10,000 are amongst the Malays and Bumiputera.

Only 18% of the 10,000 are professionally trained accountants.

Hence, PNB’s quest to add another 1,000 is a very strategic initiative. It is more than just an effort to furnish the professional talent pool amongst the firms under PNB’s  substantial portfolio stable.

Considering that there are over 1.100 firms listed in Bursa Malaysia, the targeted 3,000 professional accountants amongst the Malays is still far from adequate.

The success of PNB’s initiative:

ACCA/CAT PRIZE WINNERS DECEMBER 2017

A: In summary for Malaysia, 11 out of 25 prize winners are bumiputera:-

– ACCA : 13 winners (4 out of 13 are Bumiputera)

– CAT : 12 winners (7 out of 12 are Bumiputera)

For 3 top affliates, all non-bumiputera (PNB target is to be able to produce gold/silver or bronze medal winners in future)

B: PNB Chartered Accountant programme prize winner for Dec 2017 sitting

PCA programme in collaboration with Yayasan Peneraju/IPAC has produced 1 ACCA prize winner which is also the first ever scholar who have been ranked 1st in the world (previously highest is 3rd in the World)

Wan Nor Mahfuda binti Wan Yusof Malaysia#1( World #1) for F7 Paper : Financial Reporting

Raised in Jerteh Terengganu, she previously studied @ MRSM Besut. Mahfudah joined PCA programme in Jan 2017 through the Post CAT/Diploma route. Her father is a surveyor and mother is a housewife. She scored 95% for F7 paper and was ranked #1 in Malaysia and #1 in the world by ACCA for Dec 2017 exam.

C: Yayasan Peneraju scholars – 7 prize winners (3 ACCA and 4 CAT). List as prize

PNB team, MyPAC, IPAC Education and Sunway TES who have been providing undivided support & commitment to thrive in increasing number of professional bumiputera for the nation

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Perhaps, more initiatives similar as would be put in place. It is a worthy economic transformation program with a twin-pronged objective; to furnish the requirement for the economic growth and narrow the gap between the ethnic groups.

PNB is already involved and in the driving seat of many strategic firms and their investments in Bursa Malaysia reached the 10% of the total listed company market capitalisation.

Growing business with investments and putting stewards at strategic level has been the strategy for the past 40 years.

Now, PNB is seriously developing the talents to operational drive these investments and firms, on top of narrow the gap for professionally qualified accountants for Malaysian industries.

*Updated 2130hrs

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Published in: on February 18, 2018 at 20:00  Leave a Comment  

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