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Free Malaysia Today
2 days ago
- Business
- Free Malaysia Today
K Maheswari: From hockey captain to transparency leader
As an athlete and regulatory officer, K Maheswari broke barriers and lifted others. (K Maheswari pic) PETALING JAYA : If there's one person who knows how to read the field and intercept trouble before it strikes, it's Maheswari Kanniah. The former captain of Malaysia's women's hockey team built a reputation for sharp instincts, tactical discipline, and fearless leadership on the field. Her ability to read the game and rally a team was second to none. She's since brought those same qualities to an entirely different turf — the high-stakes world of financial compliance and fraud prevention. It's a space where the pace is relentless, the risks are real, and the margin for error is even smaller. And she's just scored two final goals before retiring on Thursday as group chief regulatory and compliance officer at Kenanga Investment Bank Berhad. K Maheswari at the ACFE global fraud conference in Nashville, USA in June. (Victor Goodpasture pic) Maheswari has been recognised by the Malaysia Book of Records as the first Malaysian elected to the ACFE board of regents. She is also the first in Southeast Asia to receive the ACFE's outstanding achievement in outreach and community service award. ACFE stands for the Association of Certified Fraud Examiners, essentially, the champions league of anti-fraud professionals. To be recognised by this global body for financial integrity is no small feat. But for Maheswari, it's just another well-earned win in a career that has spanned nearly five decades and transitioned seamlessly from sports arenas to boardrooms. It's the final whistle on a 47-year career built on discipline, conviction, and a refusal to play safe, whether on the pitch or in the corporate trenches. Turf to trust Before she was in high finance, Maheswari was patrolling the centre-half position in one of Malaysia's most iconic hockey squads. Malaysia's bronze medal-winning women' hockey squad at the 1982 Asian Games in New Delhi. (K Maheswari pic) She was part of the national team that clinched bronze at the 1982 Asian Games in New Delhi, a breakthrough for women's sports at a time when female athletes were often sidelined. Captained by the legendary goalkeeper Mary Soo, the team fought not just for a medal, but for visibility, respect, and a place in history. That squad, widely regarded as Malaysia's finest women's hockey team, laid the groundwork for today's rising stars. Maheswari's early juggling act between sports and study was shaped by her late father, a champion of education who believed knowledge was the real passport to success. That mindset served her well as she transitioned from athlete to regulatory officer. 'Sport taught me discipline. Finance taught me structure. Combining both gave me an edge — the ability to see what others might miss,' said Maheswari, 65. K Maheswari at the international fraud awareness week in Kenanga last November with (L-R) Ganesh Thuraisingham, ACFE head Asia Pacific & Middle East, MACC chief Azam Baki and Chay Wai Leong, group managing director of Kenanga. That advantage proved vital in her rise through the financial services sector. At Kenanga, she didn't just head compliance, she transformed it. Her approach made regulatory governance not just a function, but a living culture. One of her defining contributions is the creation of fraud awareness week, an interactive, gamified compliance programme that's now in its eighth year. What started as an internal initiative now involves over 500 participants across Malaysia and abroad, and recently earned Kenanga another Malaysia Book of Records entry, 'Most Participants in Fraud Awareness Games.' 'Compliance doesn't have to be boring. It has to matter,' she said. 'People remember what they enjoy, and they take it seriously when they feel involved.' She also spearheaded Kenanga's corporate partnership with the ACFE, becoming the first Malaysian organisation to join the alliance. The number of certified fraud examiners in the bank jumped from two to 25 in just three months under her leadership. Breaking barriers, lifting others 'Representation matters. When people from our part of the world lead on global platforms, we challenge the narrative. We expand the lens,' said Maheswari. Her role as regent is already bearing fruit. Malaysia will host the ACFE Asia-Pacific Fraud Conference for the first time next month, bringing together regulators, compliance professionals and law enforcement under one roof. Behind Maheswari's accolades is a firm belief in nurturing others. She is a fierce advocate for mentorship, believing that lifting others isn't an option. 'It's a responsibility.' 'I was lucky to have mentors who believed in me. Now I try to be that voice for someone else,' she said. 'You rise higher when you rise together.' She has spent years mentoring young compliance professionals, particularly women trying to find their footing in a demanding and often male-dominated industry. Maheswari's leadership also helped shape Kenanga's Speak Up Policy and its move to onboard Confide, a third-party whistleblower platform and the first of its kind in Southeast Asia, founded by a whistleblower, for whistleblowers. 'Integrity isn't what's written in the code of conduct. It's how people feel when they see something wrong, and whether they feel safe enough to say something.' Retiring, but never out of the game With mentorships to continue, international conferences to help shape, and a global anti-fraud community to strengthen, she sees her next chapter as more coach than captain. After nearly half a century of defending principles and protecting trust, Maheswari's legacy is not just about being the 'first'. 'It's about opening the door for many more to follow.' The unbreakable bond K Maheswari shares with her hockey teammates continued at an outing in Taiping over the weekend. (Standing from left): Elizabeth Gomez, Halimahton Yaacob, Ong Pek Im, Agnes Leong, Lau Siew Tang, Noraihan Bahai and HK Parameswarie. (Seated): Lum Sau Foong and Maheswari Kanniah. (K Maheswari pic) Maheswari's career is a masterclass in transformation. From a star athlete to globally recognised compliance leader, she's spent a lifetime creating pathways, not just for herself, but for others. She changed how institutions think about risk. She made ethics a team sport. And she reminded Malaysia, and the world, that true leadership is never about the title. 'It's about showing up, speaking up, and standing firm. 'I never set out to break records. I set out to do what felt right, and to do it well,' she says. 'The rest took care of itself.' It all comes full circle as she reflects on the values that shaped her journey. 'I owe everything to my parents,' says Maheswari. 'They taught me to stand my ground, speak the truth, and always do what's right, no matter who's watching.'
Mint
23-07-2025
- Business
- Mint
Malaysia PM announces cash aid, fuel price cut to address rising living costs
By Danial Azhar and Rozanna Latiff KUALA LUMPUR (Reuters) -Malaysia's Prime Minister Anwar Ibrahim announced new measures on Wednesday to address growing public disquiet about the rising cost of living, including a cash handout for all adult citizens and a promise to lower fuel prices. His statement in a televised broadcast came ahead of a planned protest to be held in Malaysia's capital Kuala Lumpur on Saturday, aimed at forcing Anwar to step down over escalating prices and a failure to deliver on promised reforms. Anwar's administration has carried out a number of measures to boost revenue and productivity this year, including a minimum wage hike, increased electricity tariffs on heavy power users and an expanded sales and services tax. Anwar has said the moves were mainly targeted at large businesses and the wealthy, but critics have voiced fears that higher costs would eventually be passed down to consumers, including lower and middle-income earners. On Wednesday, Anwar said all Malaysians above 18 will receive 100 ringgit ($23.67) in a one-off cash handout to be disbursed from August 31. The government will spend a total 15 billion ringgit ($3.55 billion) in cash aid in 2025, up from 13 billion ringgit originally allocated for the year, he said. Police have said they expect between 10,000 and 15,000 people to attend Saturday's protest, which has been organised by opposition parties. "I acknowledge the complaints and accept that the cost of living remains a challenge that must be addressed, even though we have announced various measures thus far," Anwar said, adding that more initiatives to aid those in poverty will be launched on Thursday. Anwar said the government will also announce details of a long-awaited plan to adjust blanket subsidies on the widely used RON95 transport fuel before the end of September. Once the subsidy changes are implemented, Malaysians will see fuel prices at the pump drop to 1.99 ringgit per litre, compared to the current price of 2.05 ringgit, Anwar said. Foreign nationals however will have to pay unsubsidised market prices for the fuel, he said. Anwar did not provide details on how the measure will be enforced. Analysts say changes to the fuel subsidy rationalisation scheme - originally set for mid-2025 and aimed at also removing subsidies for the wealthy - could affect Malaysia's fiscal consolidation plans. Kenanga Investment Bank economist Muhammad Saifuddin Sapuan said the cash handout and subsidy measures were necessary to boost domestic demand, amid external headwinds arising from ongoing global uncertainty. "Nevertheless, this comes at a cost, especially on how the government will finance it, and likely put pressure on its fiscal target," he said. Kathleen Chen, of Fitch Ratings' Sovereigns team, said further delays or insufficient progress on subsidy rationalisation could jeopardise the government's goal to reduce its deficit to 3% by 2028. Fitch expects Malaysia's general government debt to remain high, at around 76.5% of GDP in 2025, with only a gradual decline in the medium term, she said.
Malay Mail
07-07-2025
- Business
- Malay Mail
Kenanga Investment Bank's NagaWarrants Unlocks New Trading Frontiers with HSCEI and HSTECH Warrants
From left to right: Kenneth Teoh, Deputy Head, Equity Derivatives, Kenanga Investment Bank Berhad ("KIBB"); Luk Wai Hong, William, Non-Independent Non-Executive Director, KIBB; Angeline-Ong Su Ming, Independent Non-Executive Director, KIBB; Philip Lim, Head, Equity Markets & Group Head, Equity Derivatives, KIBB; Datuk Chay Wai Leong, Group Managing Director, KIBB; Datuk Lee Kok Khee, Executive Director, Head of Group Equity Business, KIBB; Jeremy Nasrulhaq, Senior Independent Non-Executive Director, KIBB; Anita Mo, Chief Executive Officer, Hang Seng Indexes Company; Isabelle Zhen, Head, Group Equity Marketing, KIBB Bursa Excellence Awards: Best Structured Warrants Issuer (2021 and 2024) (Equity and Index) Best Structured Warrants Issuer (2021 and 2024) (Equity and Index) Global Banking & Finance Awards (UK): Best Warrants Issuer & Best Market Maker (2024 and 2025) Best Warrants Issuer & Best Market Maker (2024 and 2025) FinanceAsia (HK): Most Innovative Use of Technology (2024 and 2025) KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 7 July 2025 - Kenanga Investment Bank Berhad ("" or ""), Malaysia's no. 1 issuer of structured warrants, proudly announces the launch of its first-ever Hang Seng China Enterprises Index ("") structured warrants – HSCEI-CAA and HSCEI-HBA – and Hang Seng TECH Index ("") structured warrants – HSTECH-C30 and HSTECH-H27 – under its flagship brand, NagaWarrants by Kenanga ("").This launch marks a strategic expansion of the Group's East Asia footprint, following the successful introduction of Hang Seng Index ("HSI") structured warrants – HSI-CIW and HSI-HMO – in 2021. With HSCEI and HSTECH now listed on Bursa Malaysia, Malaysian investors will gain diversified access to two of Hong Kong's most influential indices, offering new opportunities to tap into China's financial and technology HSCEI tracks heavyweight mainland enterprises listed in Hong Kong, including financial and infrastructure giants such as ICBC, China Construction Bank, PetroChina, and Ping An Insurance. It serves as a key benchmark for tracking the performance of China's largest state-owned HSTECH, on the other hand, captures the growth of China's leading tech innovators such as Tencent, Meituan, Xiaomi, and With its focus on fast-evolving technology and innovation, HSTECH is ideal for traders with higher risk appetites looking for volatility and growth Group's presence in the structured warrants market is underscored by its 64% market share in HSI warrants. In 2024, the structured warrants segment on Bursa Malaysia recorded a turnover of RM30.3 billion, contributing approximately 4% to the exchange's total market turnover of RM848.7 launch of HSCEI and HSTECH structured warrants is expected to broaden market participation, diversify product offerings, and boost overall liquidity – particularly among retail traders already familiar with Hang Seng Index warrants."The launch of HSCEI and HSTECH structured warrants marks a pivotal step in our mission to democratise access to global markets. As Malaysia's leading issuer, Kenanga Group remains committed to driving innovation, expanding investor opportunities, and shaping the future of structured warrants. This initiative reflects our long-term vision to empower a new generation of traders while reinforcing our leadership in the region's capital markets," said Datuk Chay Wai Leong, Group Managing Director of Kenanga Investment Bank Berhad."In 2024, NagaWarrants achieved a record-breaking market share of 52%, with a total turnover of RM15.7 billion. This milestone also marks our 300Hang Seng-listed structured warrant on Bursa Malaysia – a testament to our relentless drive to innovate and serve the evolving needs of Malaysian traders," added Datuk Lee Kok Khee, Executive Director, Head of Group Equity Business of Kenanga Investment Bank product innovation, NagaWarrants continues to empower investors through a blend of educational outreach and advanced analytics. In 2024, it hosted over 50 webinars and events, earning thein 2022, 2023 and 2025. At the same time, its adoption of machine learning models – which analyse interest rate movements, market trends, and regional dynamics to anticipate demand fluctuations – has enhanced precision in warrant recognition of its leadership and innovation, Kenanga Group has received several prestigious accolades, including:Looking ahead, Kenanga Group remains committed to supporting investors through innovation, education and access to global markets. To explore trading opportunities and stay informed, visit or join our Telegram community (@NagaWarrants).Hashtag: #KenangaInvestmentBank The issuer is solely responsible for the content of this announcement. Kenanga Investment Bank Berhad (197301002193 (15678-H)) Established for over 50 years, Kenanga Investment Bank Berhad ("The Group") is a leading financial group in Malaysia, offering a wide range of services, including equity broking, investment banking, treasury, Islamic banking, listed derivatives, investment management, wealth management, structured lending, and trade financing. The Group's digital innovations include the launch of KDi GO, a wealth-centric app, along with game- changing products such as Rakuten Trade, Malaysia's first fully digital stockbroking platform, and Kenanga Digital Investing, an A.I. robo-advisor. Kenanga has garnered multiple awards, including top honours at the Bursa Excellence Awards 2024 and The Edge Malaysia Centurion Club 2023. The Group also secured the Top 20 Overall Excellence and the Niche Cap Excellence Award at the National Corporate Governance and Sustainability Awards 2024. As one of the highest- scoring constituents of the FTSE4Good Bursa Malaysia Index and a Participant of the United Nations Global Compact, Kenanga continues to drive collaboration, innovation, and sustainability in the financial industry. For more information, please visit
Malay Mail
26-06-2025
- Business
- Malay Mail
Kenanga sees Malaysian bond yields inching up amid global trade jitters
KUALA LUMPUR, June 26 — Malaysia's bond yields may rise modestly in the near term amid renewed global trade tensions, said Kenanga Investment Bank Bhd (Kenanga Research). The investment bank said markets are growing wary of escalating United States-European Union (US-EU) tariff frictions, Donald Trump's forthcoming fiscal bill, and the potential reimposition of tariffs in the weeks ahead. 'Investors will closely monitor upcoming US economic data for signs of weakness that could justify rate cuts by the US Federal Reserve (Fed),' it said in a research note today. According to Kenanga Research, yields on Malaysian Government Securities (MGS) and Government Investment Issues (GII) fell by 0.1 to 7.9 basis points (bps) across the curve over the week. The 10-year MGS eased by 4.6 bps to 3.54 per cent, while the 10-year GII slipped by 3.6 bps to 3.54 per cent. 'Initial risk-off sentiment, spurred by US involvement in the Iran-Israel conflict, dissipated following the announcement of a ceasefire. 'Market sentiment was further buoyed by the signing of a free trade agreement with the European Free Trade Association (EFTA) members—Switzerland, Norway, Iceland, and Liechtenstein—alongside deepening economic ties with Kyrgyzstan and Uzbekistan,' it said. Additionally, constructive developments in Malaysia-US tariff negotiations and reports of Intel's planned semiconductor expansion added to the positive tone, strengthening Malaysia's appeal as an investment destination. — Bernama
BusinessToday
26-05-2025
- Business
- BusinessToday
Kenanga Revises Ringgit Forecast To 4.08 Amid Accelerating Global De-Dollarisation
Kenanga Investment Bank has revised its year-end 2025 forecast for the Malaysian ringgit to 4.08 against the US dollar, citing accelerating structural shifts in the global monetary landscape and rising momentum in de-dollarisation efforts worldwide. In its latest Economic Viewpoint report, the investment house highlighted that the dominance of the US dollar as the world's primary reserve currency is steadily eroding, as central banks increasingly diversify into alternative assets such as gold and even cryptocurrencies like Bitcoin (BTC). This shift, once considered a long-term trend, is now materialising more rapidly due to geopolitical risks, unsustainable US fiscal deficits, and growing global reliance on non-USD trade settlement systems. 'The USD's supremacy is no longer absolute. Central banks are diversifying away from USD reserves, gold demand is surging, and new payment systems are circumventing US financial infrastructure,' the report noted. Ringgit's Re-Emergence in a New Currency Order According to Kenanga, Malaysia is well-positioned to benefit from these global realignments. The ringgit, which has traded within various psychological bands over the years, is now set to re-enter a stronger trading range last seen before the COVID-19 pandemic, buoyed by Malaysia's steady current account surplus, trade resilience, and a stable policy backdrop. It noted that the ringgit hovered in the 4.50–5.00/USD range for most of 2023 and 2024 but is likely to appreciate into the 3.50–4.00/USD band by mid-2026, if reform momentum is sustained. This is not a tactical shift,' the report stressed. 'It reflects a reconfiguration of capital flows, remapped reserve strategies, and a growing fiscal discount on US assets.' Regional Trade and Digital Currency Systems Gaining Ground Malaysia's alignment with regional de-dollarisation trends was also noted, with Bank Negara Malaysia pushing for increased trade settlement in local currencies, particularly with China, Indonesia, and Thailand. Projects like the cross-border digital currency platform 'Project mBridge' are expected to reduce reliance on the US dollar while increasing monetary autonomy in Asia. Kenanga highlighted that conducting 20% of trade in local currencies is no longer aspirational but now viewed as a strategic necessity. Competing with Gold and Bitcoin Despite these positives, the ringgit's upward potential now faces competition from alternative assets. Kenanga warned that capital which once flowed into emerging market currencies is now being split three ways—with gold and BTC becoming increasingly attractive hedges against inflation and systemic risk. Gold purchases by central banks are at record highs, and BTC's inclusion in institutional portfolios following US ETF approvals is reshaping capital allocation. 'The ringgit now competes not just with the USD, but with gold, BTC, and digital alternatives,' Kenanga stated. 'Malaysia must differentiate not just through macro stability, but through reform-driven credibility, ESG alignment, and financial innovation.' Outlook: Malaysia Could Emerge as Regional Safe Haven Kenanga concluded that the ringgit's recent gains are not merely a product of USD weakness but reflect genuine investor interest in credible, reform-oriented markets like Malaysia. If the US continues down a fiscally unsustainable path while Malaysia presses ahead with its National Industrial Master Plan 2030 (NIMP 2030) and structural reforms, the ringgit could be revalued as a stable proxy in Asia's emerging financial architecture. Kenanga has also revised its forecast for the ringgit to strengthen further to 3.95/USD by end-2026. 'Malaysia's fundamentals are improving at the margin,' the report concluded. 'In a world where the USD hegemony is fading, the ringgit could quietly emerge as a relative winner.' This bullish long-term outlook hinges on Malaysia maintaining policy credibility and accelerating reform implementation—especially in boosting productivity, supply chain integration, and attracting quality investments. Related
