Posted by Good123 > 2023-08-21 09:44 | Report Abuse

It is possible that Jakel can afford to acquire Picorp. Jakel is a large and successful textile company with a market capitalization of over RM1 billion. Picorp is a smaller company with a market capitalization of around RM200 million. Jakel has been known to make acquisitions in the past, such as its acquisition of Cypark Resources Berhad in 2022.

However, there are a few factors that Jakel would need to consider before making an acquisition of Picorp. First, Jakel would need to make sure that the acquisition is financially feasible. The company would need to have enough cash on hand or access to financing to pay for the acquisition. Second, Jakel would need to be confident that the acquisition would be accretive to its earnings. This means that the acquisition would need to generate enough additional revenue and profits to offset the cost of the acquisition.

Ultimately, the decision of whether or not to acquire Picorp would be up to Jakel's management team. They would need to weigh the risks and rewards of the acquisition before making a decision.

Here are some additional factors that Jakel would need to consider:

The strategic fit of Picorp with Jakel's business.
The regulatory approvals required for the acquisition.
The reaction of Picorp's shareholders to the acquisition.
If Jakel decides to acquire Picorp, it would be a significant move for the company. It would give Jakel a foothold in the renewable energy sector, which is a growing market.

Posted by Good123 > 2023-08-21 10:40 | Report Abuse

merger btwn picorp n cypark can be done via share swap too... cypark 70sen+ now, or partially in cash like rhb & osk last time :)

Posted by Good123 > 2023-08-21 11:03 | Report Abuse

Continuous growth:)

We are hiring! PICORP is actively seeking for a Senior R&D Engineer and an Intern for Group Risk & Compliance.

Join us to experience a rewarding career like never before. 🚀

At PICORP, we value passion, growth, and innovation. 🌟

Work alongside a team of driven professionals and make an impact on groundbreaking projects that shape the future for the better. 💼

Discover your true potential and grow with us.

#JoinOurTeam #CareerOpportunity #NowHiring

Posted by Good123 > 2023-08-22 08:42 | Report Abuse

:)














The share price of Progressive Impact Corporation Berhad (PICORP) can surge anytime due to a number of factors, including:

Positive news about the company. This could include news of new contracts, expansion plans, or financial results that beat expectations.
Increased demand for the company's products or services. This could be driven by factors such as economic growth, population growth, or changes in government regulations.
Speculation by investors. If investors believe that the company's share price is undervalued, they may buy shares in the expectation that the price will rise in the future.
Short covering. This occurs when investors who have shorted the stock (i.e., bet that the price will fall) are forced to buy back the shares in order to close out their position. This can cause the price to surge.

Posted by Good123 > 2023-08-22 15:26 | Report Abuse

Have fun soon hopefully :)

There is no official announcement or confirmation of a merger between Cypark Resources Berhad and Progressive Impact Corporation Berhad as of now. However, both companies are involved in the environmental sector and have seen some positive developments recently. For example, Cypark received a RM67.13 million investment from Jakel Group1, while Progressive Impact surged 42.86% in share price in May 20212. These factors may increase the likelihood of a merger in the future, but it is still speculative at this point. You can follow the latest news and updates on these companies from their websites or other sources.

Posted by Good123 > 2023-08-23 09:34 | Report Abuse

The potential merger of Progressive Impact Corporation Berhad (PICORP) and Cypark Resources Berhad (CYPARK) could enhance shareholder value in a number of ways.

First, the merger would create a larger and more diversified company with a wider range of operations. PICORP is a waste management company, while CYPARK is a renewable energy company. The merger would allow the combined company to offer a more comprehensive range of services to its customers, which could lead to increased revenue and profits.

Second, the merger would allow the combined company to achieve economies of scale. By combining their operations, PICORP and CYPARK could reduce their costs and improve their efficiency. This could lead to higher profits, which could be passed on to shareholders in the form of higher dividends or share price appreciation.

Third, the merger would create a more competitive company. The combined company would be a larger and more established player in the waste management and renewable energy sectors. This could give it a competitive advantage over its smaller and less established rivals.

Of course, there are also some risks associated with the merger. For example, the merger could be dilutive to shareholders if the combined company issues new shares to finance the acquisition. Additionally, the merger could be challenging to integrate, which could lead to operational problems.

Overall, the potential merger of PICORP and CYPARK could enhance shareholder value. However, there are some risks associated with the merger that should be carefully considered before shareholders approve it.

Here are some specific examples of how the merger could enhance shareholder value:

The combined company could achieve cost savings by consolidating back-office functions and sharing resources.
The combined company could expand into new markets and generate new revenue streams.
The combined company could be more attractive to strategic partners and investors.
Of course, the actual impact of the merger on shareholder value will depend on a number of factors, including the terms of the merger and the execution of the integration plan. However, the potential benefits of the merger are significant, and it is worth considering if you are a shareholder of either PICORP or CYPARK.

Posted by Good123 > 2023-08-23 10:54 | Report Abuse

New Areas to be Covered in the Annual Assessment > Performance of the Board and Senior Management on Environmental, Social and Governance perspectives of the Group’s business > Conflict of interest of Directors, including statement by the Board on its stance regarding the re-appointment of retiring Directors • Method of Assessment, Including the Criteria and Questions to be Used

Posted by Good123 > 2023-08-23 15:20 | Report Abuse

It is possible that the share price of Progressive Impact Corporation Berhad (PICORP) could fly high anytime. However, it is important to note that the stock market is volatile and there is no guarantee that any stock will go up in price.

There are a few factors that could contribute to a rise in PICORP's share price. First, the company is well-positioned to benefit from the growing demand for environmental solutions. PICORP provides a range of services, including waste management, water treatment, and environmental consulting. As governments and businesses around the world become more focused on sustainability, the demand for these services is expected to grow.

Second, PICORP has a strong track record of profitability. The company has been consistently profitable in recent years and has a healthy balance sheet. This financial strength could make it an attractive investment for investors.

Third, PICORP is expanding its operations into new markets. The company recently acquired a waste management company in Indonesia and is looking to expand into other Southeast Asian countries. This expansion could help PICORP to grow its revenue and earnings, which could also boost its share price.

Posted by Good123 > 2023-08-23 15:50 | Report Abuse

Picorp made the smartest choice :)

There are many reasons why listed companies might want to appoint Ernst & Young (EY) as their external auditor. Here are some of the most common reasons:

EY is one of the Big Four accounting firms. The Big Four are the largest and most respected accounting firms in the world. EY has a long history of providing high-quality auditing services to listed companies.
EY has a global network of offices. This means that EY can provide auditing services to listed companies in all major markets around the world.
EY has a strong reputation for independence. EY is committed to independence and objectivity in its auditing work. This is important to listed companies, as they need to be confident that their financial statements are being audited by an independent party.
EY has a team of experienced auditors. EY has a team of experienced auditors who are experts in the auditing of listed companies. This means that EY can provide the level of expertise and service that listed companies need.
EY is a cost-effective option. EY is a cost-effective option for listed companies, as it offers a range of auditing services at competitive prices.
In addition to these reasons, listed companies may also appoint EY as their external auditor because of the firm's:

Strong track record of innovation. EY is constantly innovating in the field of auditing, and this helps it to provide the best possible services to its clients.
Commitment to sustainability. EY is committed to sustainability, and this is reflected in its auditing work. EY helps its clients to improve their sustainability performance, and this can benefit both the companies and the environment.
Overall, there are many reasons why listed companies might want to appoint EY as their external auditor. The firm offers a range of benefits that can help listed companies to improve their financial reporting and governance practices.

Posted by Good123 > 2023-08-23 16:03 | Report Abuse

7 reasons why invest in share market

The power of compounding

Compound interest works best with investment which offer high rates of returns. Fixed deposit earns 4% compund interest/year as compared with investing in stock market. Let’s take a look at the example below.


Stocks Vs Property Vs Fixed Deposits


Result matters

The KLCI has been showing consistent growth for several years and benefiting Malaysian investors.

Beat inflation


Prices go up every year by 3% to 4%, so your investment must grow faster. Asset classes like Stocks can provide higher returns on your investment than the inflation rate.

Own a piece of established business than building one yourself

Compare the effort of building an enterprise on your own versus buying a piece of an existing established company. Relatively, it is many times easier to buy a share of a great company listed in Bursa Malaysia.

The freedom to work at your own place

You can do buy and sell transaction at home. You can find reports and announcements on the Internet. All these information is sufficient to let you conduct analysis and research to find the companies that is worth investing your money.

Convenience at fingertips

As most brokers operate online trading platforms, you can access the market at anytime in any place with an internet connection through your personal computer or smartphone

The Rule of Thumb of Share Investing

Posted by Good123 > 2023-08-23 16:06 | Report Abuse

TOP 10 Investors (As of Latest Filing)
INVESTOR NAME % O/S POSITION (M Shares) POSITION CHG (M) VALUE(M USD) FILING DATE FILING SOURCE
Zaiyadal Keluarga Sdn. Bhd. 46.18 303.89 -6.05 6.55 22-Mar-2023 Other Substantial/Declarable
Bank of Singapore Limited 8.21 54.00 0.00 1.16 22-Mar-2023 Other Substantial/Declarable
Zaid bin Abdullah 6.82 44.88 -3.50 0.97 22-Mar-2023 Malaysia Insider
Kal-Yadaiin Sdn. Bhd. 4.38 28.81 0.00 0.62 22-Mar-2023 Other Substantial/Declarable
Zaidah binti Mohd Salleh 1.33 8.77 0.00 0.19 22-Mar-2023 Malaysia Insider
Ab Ghaus bin Ismail 0.92 6.08 0.00 0.13 22-Mar-2023 Other Substantial/Declarable
Abdul Aziz bin Nik Sulaiman 0.66 4.32 0.00 0.09 22-Mar-2023 Other Substantial/Declarable
Yue (Guan Sheng) 0.61 4.00 4.00 0.09 22-Mar-2023 Other Substantial/Declarable
IVT 0.54 3.56 3.56 0.08 22-Mar-2023 Other Substantial/Declarable
Lee (Hong Peng) 0.45 2.99 2.99 0.06 22-Mar-2023 Other Substantial/Declarable
TOP 10 Investors (As of Latest Filing)
Zaiyadal Keluarga Sdn. Bhd.
Bank of Singapore Limited
Zaid bin Abdullah
Kal-Yadaiin Sdn. Bhd.
Zaidah binti Mohd Salleh
Ab Ghaus bin Ismail
Abdul Aziz bin Nik Sulaiman
Yue (Guan Sheng)
IVT
Lee (Hong Peng)

Posted by Good123 > 2023-08-23 16:06 | Report Abuse

Ownership Type (As of Latest Filing)
TYPE INVESTORS % O/S POSITION (M Shares) VALUE(M USD)
Corporation 4 51.13 336.44 7.25
Individual Investor 28 15.28 100.40 2.16
Bank and Trust 1 8.21 54.00 1.16

Posted by Good123 > 2023-08-23 16:10 | Report Abuse

Last Close
0.08 (MYR)
2023 August 22
MALAYSIA Exchange
Avg Daily Vol
965,380
52-Week High
0.35
Trailing PE
--
Annual Div
--
Market Cap
49M
52-Week Low
0.06
Forward PE
--
Dividend Yield
4.0%
Annual Rev
88M
Inst Own
8.2%

Posted by Good123 > 2023-08-23 16:12 | Report Abuse

BUSINESS SUMMARY
Progressive Impact Corporation Berhad is an investment holding company. The principal activities of the Company are that of investment holding,
property investment and the provision of management and administrative services to its subsidiaries. The Company's segments include environmental
monitoring, consultancy and services, and lab testing services. The environmental monitoring, consultancy and services segment includes the provision
of environmental related services in air, water, wastewater, and public health. The lab testing services segment includes the provision of environmental
and food testing and analysis services. Its core businesses include environmental monitoring, analytical testing services, wastewater treatment and
solution, and environmental data management and GIS. It provides its services to various governmental bodies as well as to the private sectors, which
are involved in the energy, food manufacturing, and industrial and manufacturing sectors, among others.

Posted by Good123 > 2023-08-23 16:15 | Report Abuse

Current Ratio 1.1
For interim period
ending 2023-03
Debt-to-Capital 0.5%
For annual period
ending 2022-12
Interest Funding 32.7%
For interim period
ending 2023-03
Interest Coverage 2.9
For interim period
ending 2023-03
Oper. Cash Yield 270.7%
For latest 12 months
ending --

Posted by Good123 > 2023-08-23 16:15 | Report Abuse

Dividend Coverage 1.1
For annual period
ending 2022-12
Current Div. Yield 4.0%
For latest 12 months
ending 2023-08

Posted by Good123 > 2023-08-23 16:16 | Report Abuse

Of the 37 firms within the Prof. & Commercial Svcs. industry group,
Progressive Impact Corp is among 18 companies that pay a dividend.
The stock's dividend yield is currently 4.0%.

Posted by Good123 > 2023-08-23 16:17 | Report Abuse

RELATIVE VALUATION
POSITIVE OUTLOOK: Multiples significantly
below the market or the stock's historic norms

Posted by Good123 > 2023-08-23 16:17 | Report Abuse

HIGHLIGHTS
- Progressive Impact Corp currently has a Relative Valuation Rating of 9
which is significantly above the FTSE BURSA MALAYSIA
COMPOSITE index average rating of 4.5.
- PICORP's 0.6 Price to Sales multiple is currently at the low end of its
5-year range (lowest 0.5 to highest 2.4).

Posted by Good123 > 2023-08-23 16:18 | Report Abuse

- In the short term, PICORP has shown low correlation (>= -0.1
and < 0.2) with the FTSE BURSA MALAYSIA COMPOSITE
index. The stock has, however, shown high correlation (>= 0.4)
with the market in the long term.
- Over the last 90 days, PICORP shares have been more volatile
than the overall market. The stock's daily price fluctuations
have exceeded that of all FTSE BURSA MALAYSIA
COMPOSITE index firms.

Posted by Good123 > 2023-08-23 16:19 | Report Abuse

PICORP FBM KLCI
Close Price (2023-08-22) 0.08 1,452
52-Week High 0.35 1,512
52-Week Low 0.06 1,373
- The Price Momentum Rating for Progressive Impact Corp is at
its 3-year low of 1.
- On 2023-08-22, PICORP closed at 0.08, 78.6% below its 52-
week high and 25.0% above its 52-week low.
- The FTSE BURSA MALAYSIA COMPOSITE index is currently
4.0% below its 52-week high and 5.7% above its 52-week low.

Posted by Good123 > 2023-08-23 16:26 | Report Abuse

DY 4.00%

NTA 0.0800
P/B 0.94
RPS 13.43
PSR 0.56
Market Cap 49.4M
Shares (mil) 658.00

Posted by Good123 > 2023-08-23 16:35 | Report Abuse

https://www.thestar.com.my/news/nation/2023/08/19/transport-ministry-finalising-penang-lrt-details-with-srs-consortium?utm_source=outbrain&utm_medium=paid&utm_content=Penang%27s+LRT+project+gains+momentum+with+SRS+Consortium%2C+poised+for+gr&utm_campaign=sr67845+gamuda+berhad&dicbo=v4-VAtTZ9T-1078256342

Posted by Good123 > 2023-08-23 16:44 | Report Abuse

it is possible that the company is being considered by potential acquirers. Here are some reasons why PICORP might be a target for a merger or acquisition:


The company has valuable assets, such as intellectual property or real estate.
The company is operating in a growing industry. This could make it an attractive target for a company that is looking to expand its market share.
The company has a strong management team. This could make it an attractive target for a company that is looking to improve its own management team.
If PICORP is indeed a target for a merger or acquisition, it is likely that the company's shareholders will be offered a premium for their shares. This could be a good opportunity for shareholders to sell their shares and realize a profit.

Posted by Good123 > 2023-08-24 09:59 | Report Abuse

Strong recovery expected

Posted by Good123 > 2023-08-24 10:01 | Report Abuse

https://www.thestar.com.my/business/business-news/2023/04/24/time-for-a-new-sme-plan

Posted by Good123 > 2023-08-24 10:02 | Report Abuse

Post pandemic, rebound is near as follows:

Repeating soon

KUALA LUMPUR: Progressive Impact Corp Bhd's (Picorp) net profit for the second quarter (2Q) ended June 30, 2009 rose 21.6% year-on-year (y-o-y) to RM2.58 million or 39 sen a share from RM2.14 million.
Revenue rose 8.5% to RM17.2 million compared with RM15.85 million a year earlier, mainly contributed by the increase in sales in the company's operations in Saudi Arabia.

Picorp has declared an interim dividend of 0.55 sen per share (less 25% tax) for the quarter under review.

Posted by Good123 > 2023-08-24 10:05 | Report Abuse

Progressive Impact Corporation Berhad, an investment holding company, provides environmental consulting, monitoring, monitoring equipment and systems integration, environmental data management and laboratory testing services, and wastewater treatment solutions in Malaysia, Indonesia, and Saudi Arabia.

Posted by Good123 > 2023-08-24 10:05 | Report Abuse

REWARDS
Trading at 51.9% below our estimate of its fair value

Posted by Good123 > 2023-08-24 10:06 | Report Abuse

Price-To-Sales vs Peers: PICORP is good value based on its Price-To-Sales Ratio (0.5x) compared to the peer average (1.7x).

Posted by Good123 > 2023-08-24 10:07 | Report Abuse

Price-To-Sales vs Industry: PICORP is good value based on its Price-To-Sales Ratio (0.5x) compared to the MY Commercial Services industry average (1.4x).

Posted by Good123 > 2023-08-24 10:07 | Report Abuse

Share Price vs Fair Value
What is the Fair Price of PICORP when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

51.9%
Undervalued

Posted by Good123 > 2023-08-24 10:08 | Report Abuse

Below Fair Value: PICORP (MYR0.07) is trading below our estimate of fair value (MYR0.15)

Significantly Below Fair Value: PICORP is trading below fair value by more than 20%.

Posted by Good123 > 2023-08-24 10:10 | Report Abuse

Debt Level: PICORP has more cash than its total debt.

Posted by Good123 > 2023-08-24 10:10 | Report Abuse

Debt Coverage: PICORP's debt is well covered by operating cash flow (36.5%).

Posted by Good123 > 2023-08-24 10:12 | Report Abuse

Assets
Cash & Short term Investments
RM55.7m
Long term & Other Assets
RM41.1m
Receivables
RM39.4m
PhysicalAssets
RM39.2m

Posted by Good123 > 2023-08-24 10:12 | Report Abuse

Ownership Breakdown
Institutions 9.8%
64,448,700 shares
Individual Insiders 14.4%
94,315,455 shares
General Public 25.0%
163,724,245 shares
Private Companies 50.8%
332,882,700 shares

Posted by Good123 > 2023-08-24 10:14 | Report Abuse

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders
Top 25 shareholders own 74.43% of the company
Zaiyadal Keluarga Sdn Bhd
46.37%
Bank of Singapore Limited, Asset Management Arm
8.24%
Zaid Bin Abdullah
6.85%
Kal-Yadaiin Sdn Bhd
4.4%
Zaidah Binti Mohd Salleh
1.41%
UBS Asset Management AG
0.69%
Nik bin Nik Sulaiman
0.66%
Guan Sheng Yue
0.61%
JF Apex Securities Berhad, Asset management arm
0.54%
Hong Peng Lee
0.46%
Boon Chai Ooi
0.41%
Tain Guan Khaw
0.39%
JPMorgan Chase & Co, Brokerage and Securities Investments
0.36%
Yik Chou Khoo
0.31%
Tong Wee Lim
0.31%
Yung Yung Khaw
0.29%
Jen Tong Tee
0.28%
Ahmad bin Abdullah
0.26%
Swee Hing Yeu
0.25%
Johar bin Yusof
0.23%
Kiew Moi Chong
0.23%
Chai Syuen Chew
0.23%
Kim Choong Wong
0.22%
Mohammed Bin Mahmud
0.22%
Bee Lan Teh
0.22%

Posted by Good123 > 2023-08-24 10:14 | Report Abuse

Bank of Singapore Limited, Asset Management Arm
8.24%
Shares 54,004,900
Value RM3.8m
Change % 0%
Portfolio % 0.07%
Last Reported 22 Mar 23

Posted by Good123 > 2023-08-24 10:15 | Report Abuse

Zaiyadal Keluarga Sdn Bhd
46.37%
Shares 303,893,622
Value RM21.3m
Change % 0%
Portfolio % 0%
Last Reported 22 Mar 23

Posted by Good123 > 2023-08-24 10:16 | Report Abuse

Zaid Bin Abdullah
6.85%
Role
Vice Chairman
Founder & Executive Deputy Chairman
Shares 44,880,600
Value RM3.1m
Change % 0%
Portfolio % 0%
Last Reported 22 Mar 23

Posted by Good123 > 2023-08-24 10:16 | Report Abuse

Kal-Yadaiin Sdn Bhd
4.4%
Shares 28,813,078
Value RM2.0m
Change % 0%
Portfolio % 0%
Last Reported 22 Mar 23

Posted by Good123 > 2023-08-24 10:17 | Report Abuse

Zaidah Binti Mohd Salleh
1.41%
Role
Member of the Board of Directors
Company Secretary & Non-Independent Non-Executive Director
Shares 9,240,700
Value RM646.9k
Change % 0%
Portfolio % 0%
Last Reported 22 Mar 23

Posted by Good123 > 2023-08-24 10:17 | Report Abuse

UBS Asset Management AG
0.69%
Shares 4,549,800
Value RM318.5k
Change % 0%
Portfolio % 0%
Last Reported 22 Mar 23

Posted by Good123 > 2023-08-24 10:18 | Report Abuse

JF Apex Securities Berhad, Asset management arm
0.54%
Shares 3,561,400
Value RM249.3k
Change % 0%
Portfolio % 0%
Last Reported 22 Mar 23

Posted by Good123 > 2023-08-24 10:20 | Report Abuse

Board Members

Lukman Bin Ibrahim
CEO & Group Executive Director

Zaid Bin Abdullah
Founder & Executive Deputy Chairman
RM1.46m

Zaidah Binti Mohd Salleh
Company Secretary & Non-Independent Non-Executive Director
RM92.00k

Usamah Bin Zaid
Chief Executive Officer of Alam Sekitar Malaysia Sdn. Bhd
RM31.00k

Syed Bin Syed Wazir
Independent Non-Executive Chairman

Kamarul Bin Albakri
Independent & Non Executive Director
RM88.00k

Rosnani Binti Ibarahim
Independent Non-Executive Director
RM102.00k

Fatimah Binti Zaid
Alternate Director

Posted by Good123 > 2023-08-24 10:20 | Report Abuse

Experienced Board: PICORP's board of directors are considered experienced (8.5 years average tenure).

Posted by Good123 > 2023-08-24 10:22 | Report Abuse

Lukman Bin Ibrahim (57 yo)

8.6yrs

Tenure
Dato’ Dr. Lukman Bin Ibrahim has been a Deputy Chief Executive Officer at Proton Holdings Bhd. since August 19, 2013. Dr. Bin Ibrahim served as Deputy Chief Executive Officer of Proton Holdings Bhd.until... Show more

Posted by Good123 > 2023-08-24 10:23 | Report Abuse

Name: Progressive Impact Corporation Berhad
Ticker: PICORP
Exchange: KLSE
Founded: 1991
Industry: Environmental and Facilities Services
Sector: Commercial Services
Implied Market Cap: RM45.876m
Shares outstanding: 655.37m
Website: https://www.picorp.com.my

Posted by Good123 > 2023-08-24 10:26 | Report Abuse

Zaid Bin Abdullah

Position
Founder & Executive Deputy Chairman
Tenure
32.8yrs
Age
71
Compensation (per year)
RM1.46m
Company Ownership
6.85 %MYR 3.1m 44.9m shares
Profile
Tuan Haji Zaid Bin Abdullah founded Progressive Impact Corporation Berhad (PIC) in 1992 and served as its Group Managing Director until January 14, 2011. Prior to the setting up PIC, he served as Director of Finance For Shapadu Corporation from 1978 to 1982. Before being promoted to Group Executive Director of Shapadu Group Of Companies, a Position he upheld until he Left in 1992 to Develop Pic Group. He set up ASMA in 1993 and was the initial Managing Director for ASMA. He has vast experience in the Corporate Business World. He was also involved in the formulation of the training program for the CAQM specialists & technicians with the Alberta Institute of Technology, Calgary, Canada. He served as the Chairman and Director of PJBumi Bhd from February 28, 2008 to January 18, 2013. He served as Independent Non Executive Chairman of Progressive Impact Corporation Berhad. He has been Executive Deputy Chairman of Progressive Impact Corporation Berhad since November 20, 2012 and has been its Director since November 1, 1990. He also holds directorships in all the subsidiary companies of Progressive Impact Corp. Bhd. He holds a Bachelor of Economics (Accounting) and Advanced Diploma in Accounting from the University of Malaya and is a Chartered Accountant by profession.