Category: Featured in the Media

The Asia School of Business (ASB) has achieved a historic milestone by debuting at No. 94 globally in the Financial Times (FT) Executive Education Custom Rankings.

In its very first year of participation, the institution became the first business school in Malaysia to enter the prestigious Top 100 Financial Times Custom Rankings.

This milestone marks a significant moment for the institution, reflecting the deep trust placed in Asia School of Business by diverse corporate partners and underscores the School’s commitment to executive learning engineered specifically for Asia’s unique leadership and organisational transformations.

The FT methodology relies heavily on direct stakeholder sentiment, with client and participant feedback accounting for 80% of the overall ranking across dimensions like programme design, teaching methods, and value for money.

Asia School of Business chief executive officer, president and dean Professor Joseph Cherian said the achievement is an extraordinary honour that significantly elevates Malaysia’s presence in the landscape of global business education.

“With the Financial Times methodology placing an immense 80% weight on client feedback, this ranking directly validates the genuine trust, real-world value, and transformational impact our corporate partners experience with us,” he said.

Asia School of Business anchors its executive education curriculum on five strategic pillars: Corporate Governance and Finance, Leadership and Management, Finance, Technology, Geopoliticsand Sustainability. These interconnected pillars are tailored to equip leaders with comprehensive insights into regional and global shifts, driving business transformation.

The global recognition validates ASB-ICLIF Leadership and Governance Centre’s defining ethos of “Global Inquiry, Local Heart” by combining world-class academic standards with deep, practical, on-the-ground relevance to Asian markets.

Professor Cherian said Asia School of Business’s executive education capabilities are specifically localized and deeply institutional that incorporates global networks while prioritizing emerging Asian market dynamics.

“This recognition builds on Asia School of Business’s broader trajectory of international benchmarking, including our AACSB (Association to Advance Collegiate Schools of Business) accreditation and growing global engagement.

“Moving forward, this milestone will catalyse our next phase of growth as we strengthen client listening mechanisms and expand our international footprint,” added Professor Cherian.

Beyond executive education, the School offers premier postgraduate degrees including the Master in Central Banking (MCB), MBA, Executive MBA (EMBA), and Agile Continuous Education (Micro-Credential) programmes (ACE). 

Asia School of Business equips graduates with real-world capabilities through its signature Action Learning methodology, ensuring graduates possess rigorous real-world capabilities, backed by robust career services that successfully place students in top-tier global and regional organisations.

Malaysia’s retirement challenge is becoming more about whether people are financially and psychologically prepared to sustain themselves through longer lifespans and rising living costs, and less about dividends paid by the Employees Provident Fund (EPF), the nation’s biggest pension fund.

It was an issue highlighted during a panel session at Asia Asset Management’s 14th Annual Malaysia Roundtable in Kuala Lumpur on May 5.

Panel members pointed out that Malaysia has one of the stronger mandatory retirement systems in Asia.

“We should recognise that our EPF is doing an excellent job. The fact that 24% of wages are contributed to retirement savings, and that it has managed the funds well, means Malaysia has actually done very well in this respect,” said Joseph Cherian, chief executive, president and dean of the Asia School of Business.

But panellists warned that many Malaysians still underestimate how much they need for retirement, and how quickly the money they saved can run out.

Taufiq Iskandar, chief executive officer of Private Pension Administrator Malaysia (PPA), the administrator of the Private Retirement Scheme (PRS), noted that only about 40% now meet the EPF’s basic savings threshold, leaving the majority financially vulnerable in retirement.

He said even retirees who have 1 million ringgit (US$249,500) saved could struggle to sustain their lifestyles over the long term.

EPF alone isn’t enough

Panel members pointed to a growing “retirement illusion”, where individuals see a large lump sum in their retirement accounts and assume it will be sufficient, without fully understanding how inflation, longevity and monthly spending can eat into the savings.

“There is money illusion. People see a large pot of money and think it is enough,” Cherian said.

Ageing demographics could intensify the pressure in coming years, especially as family support structures weaken and more workers shift into informal or gig-based employment.

The United Nations has projected that Malaysia will become an ageing nation by 2030, with the number of people 65 years and older making up 7% of the population.

Although the Malaysian pension system isn’t in “deep crisis” now, it does need structural changes, according to Ng Jit Seng, chief operating officer of Principal Asset Management

“I would not call it a very deep crisis yet, but we are entering a phase where structural changes and stronger savings behaviour are needed,” he said.

He noted that many Malaysians rely heavily on just the EPF instead of building broader retirement portfolios.

“EPF should form the core foundation of retirement savings, while PRS and other investments should complement it,” he said.

For Ismitz Matthew De Alwis, executive director and chief executive officer of Kenanga Investors, financial literacy is a big concern.

“I do not think there is a shortage of investment products or vehicles. The key issue is financial literacy,” he said.

He observed that many Malaysians, especially younger employees and gig workers, do not have long-term investing habits or the discipline to save consistently.

Fees and ETFs

The panel also debated the hidden impact of investment costs on long-term retirement savings.

Tan Haw Sin, founder and managing director of Riskk.Com, warned that high management fees could erode retirement wealth over time, particularly for long-term retirement products.

“At 2% annual fees over 30 years, you could lose more than half your wealth accumulation. The cumulative cost of wrapping and managing funds over the long term is actually very, very high,” he said.

He said lower-cost investments such as exchange-traded funds could help improve long-term retirement outcomes, but that ETF adoption in Malaysia is low compared with more developed markets.

According to Taufiq, funds on the PRS platform charge reasonable fees and that fee disclosures are very transparent. He said the PPA and Securities Commission Malaysia are actively working to further reduce costs.

He also said the PRS ecosystem is being restructured to become more account-based and could eventually include ETFs as investment options.

Ultimately though, the broader challenge may be more behavioural.

“Retirement is one of those things that creeps up on you. When you are young, you feel invincible, and before you know it, retirement arrives,” Ismitz said.

Originally published by Asia Asset Management.

ASIA SCHOOL OF BUSINESS VAULTS INTO FINANCIAL TIMES WORLD’S TOP 100 FOR EXECUTIVE EDUCATION

The historic debut recognises ASB’s mission to deliver world-class education built in Asia, for Asia and beyond.

The Asia School of Business (ASB) has achieved a historic milestone by debuting at 94^th globally in the prestigious Financial Times (FT) Executive Education Custom Rankings. In its very first year of participation, ASB is the first business school in Malaysia to enter this definitive global ranking.

This landmark achievement reflects the deep trust placed in ASB by diverse corporate partners and underscores the School’s commitment to executive learning engineered specifically for Asia’s unique leadership and organisational transformations.

Delivering Tangible Business Value

The FT methodology relies heavily on direct stakeholder sentiment, with client and participant feedback accounting for 80% of the overall ranking across dimensions like programme design, teaching methods, and value for money.

Professor Joseph Cherian, CEO, President, Dean and Distinguished Professor of Asia School of Business, expressed his enthusiasm: “Securing a position among the world’s top 100 custom executive education providers in our inaugural debut is an extraordinary honour for the Asia School of Business, and a significant milestone that elevates Malaysia’s presence in global business education. With the Financial Times methodology placing an immense 80% weight on client feedback, this ranking directly validates the genuine trust, real-world value, and transformational impact our corporate partners experience with us.”

Strategic Excellence Across Five Pillars

ASB’s executive education programmes are uniquely structured to address the most pressing challenges of the modern economy. The School’s curriculum is anchored by five strategic pillars designed to empower leaders with a 360-degree perspective on regional and global shifts:

1. Corporate Governance & Finance: Enhancing the skills of directors to effectively fulfil their fiduciary duties, with a focus on board-level risk management, strategy, and succession planning.
2. Leadership & Management: Equipping busy executives and high-potential managers across industries with the practical tools and insights needed to lead effectively in today’s complex world.
3. Technology: Immersing participants in the dynamic digital landscape, covering pivotal fields like AI and cybersecurity to understand how technology is reshaping global industries.
4. Geopolitics: Examining the interplay between global policies and economics, enabling leaders to anticipate geopolitical shifts and adapt strategies for resilient growth.
5. Sustainability: Moving beyond the buzzwords to help organisations strike a vital balance between profits and sustainable growth, progress, and future-minded impact.

Global Inquiry, Local Heart

This global recognition validates ASB’s defining ethos: Global Inquiry, Local Heart. Unlike traditional regional outposts, ASB operates as a homegrown executive education powerhouse built inside the region, significantly enhanced by the integration and legacy of the ICLIF Leadership and Governance Centre in 2020.

“Our capability has been built deeply and institutionally over the years to design executive education that answers to Asian market dynamics while staying globally connected,” added Professor Cherian. “This recognition builds on ASB’s broader trajectory of international benchmarking, including our AACSB accreditation and growing global engagement. Moving forward, this milestone will catalyse our next phase of growth as we strengthen client listening mechanisms and expand our international footprint.”

A Comprehensive Educational Ecosystem

Building upon this momentum, ASB continues to shape global knowledge from Asia for the world. Beyond executive education, the School offers premier postgraduate degrees including the Master in Central Banking (MCB), MBA, Executive MBA (EMBA), and Agile Continuous Education (Micro-Credential) programmes (ACE). Driven by its signature Action Learning methodology, ASB ensures graduates possess rigorous real-world capabilities, backed by robust career services that successfully place students in top-tier global and regional organisations.

In terms of graduate employability, 65% out of 581 trainees from investED Leadership¹ programme have secured employment within the capital market since the programme’s introduction. The remaining graduates are employed across other sectors including banking, fintech, consulting and accounting.

This affirms the programme’s objective in building a sustainable and skilled talent pipeline for the capital market.

In addition, investED Foundation programme has enrolled 3,072 participants over three cohorts, surpassing its target of 2,400. This foundation programme provides introductory knowledge and baseline certification on the capital market.

Since its inception in 2023, the investED programme has also undertaken significant outreach, engaging more than 190,000 university students and fresh graduates nationwide through career fairs and talks.

The investED Cohort 3 graduation ceremony was held today and attended by Datuk Dr. Anesee Ibrahim, the Ministry of Higher Education’s Secretary-General, together with the SC’s Chairman Dato’ Mohammad Faiz Azmi.

Today’s ceremony honoured 210 and 513 graduates from Cohort 3 of the investED Leadership and Foundation Programme respectively.

Launched by Prime Minister Dato’ Seri Anwar Ibrahim in June 2023, investED is the first collaborative effort of its kind involving the SC, the Ministry of Finance, the Ministry of Higher Education, industry and Malaysian universities.

investED is focused on developing specialised skills for the capital market industry. The programme’s structure, combining an intensive month-long classroom training at the Asia School of Business, with six-month placements at 50 capital market partner companies serves as a bridge between academic study and professional practice.

SC Chairman Dato’ Mohammad Faiz Azmi noted that a sustainable talent pipeline is necessary to support the Capital Market Masterplan 2026–2030 which is projected to increase market size to between RM5.8 trillion and RM6.3 trillion by 2030.

“investED is aligned with industry needs. It is a credible and effective capacity building platform, delivering tangible workforce outcomes for the Malaysian capital market. By combining structured training with on-the-job exposure, it ensures that participants are ready for their roles and capable of contributing to the industry,’’ he said.

Meanwhile, partner firms and investED Steering Committee members comprising industry players applauded the programme’s impact on talent development.

Malaysian Investment Banking Association’s Council Chairman and Group Managing Director & CEO, Hong Leong Investment Bank, Lee Jim Leng commented, “investED is a programme designed to extend beyond foundation and knowledge. At the core lies a recognition of the need to bridge the gap of building a consistent talent pool for the capital market industry.”

Representative from Malaysia Futures Brokers Association and TA Futures Sdn Bhd’s Executive Director, Dayangku Shukarni Awang Jolkipli said, “From the investED programme, we manage to filter the suitable candidates to be further trained in our organisation. Hence, TA gained in term of fresh perspective and ideas, balance in age gap for succession plan programme and cost-effective recruitment process.”

Bursa Malaysia Chief Executive Officer and Steering Committee member, Dato’ Fad’l Mohamed said, “A vibrant and evolving capital market requires a steady pipeline of talent, and programmes such as investED provide participants with early exposure and practical insights into the industry and its ecosystem. Over the course of the programme, the cohort gained knowledge and skills that we hope will support their future growth and contribution to Malaysia’s capital market.”

KUALA LUMPUR: The Asia School of Business (ASB) has achieved a historic milestone by debuting at 94th globally in the prestigious Financial Times (FT) Executive Education Custom Rankings.

In its very first year of participation, Asia School of Business is the first business school in Malaysia to enter this definitive global ranking.

This achievement reflects the deep trust placed in Asia School of Business by diverse corporate partners and underscores the school’s commitment to executive learning engineered specifically for Asia’s unique leadership and organisational transformations.

The FT methodology relies heavily on direct stakeholder sentiment, with client and participant feedback accounting for 80% of the overall ranking across dimensions like programme design, teaching methods and value for money.

Asia School of Business chief executive officer, president and dean Professor Joseph Cherian said, “Securing a position among the world’s top 100 custom executive education providers in our inaugural debut is an extraordinary honour for Asia School of Business and a significant milestone that elevates Malaysia’s presence in global business education.

“With the Financial Times methodology placing an immense 80% weight on client feedback, this ranking directly validates the genuine trust, real-world value and transformational impact our corporate partners experience with us.”

Asia School of Business’s executive education programmes are uniquely structured to address the most pressing challenges of the modern economy.

The school’s curriculum is anchored by five strategic pillars designed to empower leaders with a 360-degree perspective on regional and global shifts:

• Corporate Governance and Finance: Enhancing the skills of directors to effectively fulfil their fiduciary duties, with a focus on board-level risk management, strategy and succession planning;
• Leadership and Management: Equipping busy executives and high-potential managers across industries with the practical tools and insights needed to lead effectively in today’s complex world;
• Technology: Immersing participants in the dynamic digital landscape, covering pivotal fields like artificial intelligence and cybersecurity to understand how technology is reshaping global industries;
• Geopolitics: Examining the interplay between global policies and economics, enabling leaders to anticipate geopolitical shifts and adapt strategies for resilient growth;
• Sustainability: Moving beyond the buzzwords to help organisations strike a vital balance between profits and sustainable growth, progress, and future-minded impact.

This global recognition validates Asia School of Business’s defining ethos: Global Inquiry, Local Heart. Unlike traditional regional outposts, Asia School of Business operates as a homegrown executive education powerhouse built inside the region, significantly enhanced by the integration and legacy of the ICLIF Leadership and Governance Centre in 2020.

“Our capability has been built deeply and institutionally over the years to design executive education that answers to Asian market dynamics while staying globally connected,” added Professor Cherian.

“This recognition builds on Asia School of Business’s broader trajectory of international benchmarking, including our AACSB accreditation and growing global engagement.

“Moving forward, this milestone will catalyse our next phase of growth as we strengthen client listening mechanisms and expand our international footprint.”

Beyond executive education, the school offers premier postgraduate degrees including the Master in Central Banking (MCB), MBA, Executive MBA (EMBA), and Agile Continuous Education (Micro-Credential) programmes (ACE). 

Driven by its signature Action Learning methodology, Asia School of Business ensures graduates possess rigorous real-world capabilities, backed by robust career services that successfully place students in top-tier global and regional organisations.

SHAH ALAM, May 20 — SME Corporation Malaysia will strengthen financing and scale-up initiatives in 2026 to help develop micro, small, and medium enterprises (MSMEs), particularly in improving competitiveness, business growth, and market expansion.

Its development and technology adaptation sector representative Zubaidah Mohamad said its initiatives will focus not only on financing assistance but also on capacity building, business development, and market access support to help local businesses strengthen their operations and long-term sustainability.

Among the key programmes highlighted were Prestige 2.0, PKS Bursa, PMKS Access, BRAVE, Skill Up, and the Next Level CEO initiative, which aim to support companies through financing, leadership development, capacity building, and preparation for expansion into larger and international markets.

“Several financing initiatives offered soft loan facilities and business funding support, particularly for Bumiputera-owned companies and businesses looking to strengthen ESG governance or prepare for entry into capital markets. 

“Prestige 2.0 now places stronger emphasis on financing support, market access, and capacity building for companies in high-growth and high-value sectors through collaborations with strategic partners, including Funding Societies,” she said during the ‘Invest Selangor Update Series: Insights into the Latest Opportunities for SMEs & MTCs’ programme today.

Zubaidah added that the Skill Up initiative will continue supporting companies through matching grants, particularly for businesses in the semiconductor and health technology sectors, while the Next Level CEO programme focuses on upskilling SME owners and senior management.

The programme is conducted in collaboration with institutions, including the Asia School of Business, Heriot-Watt University Malaysia and Efficient Frontier Consulting, to strengthen leadership, strategic planning, and business capabilities among local entrepreneurs.

She highlighted efforts to support youth and startup entrepreneurs through programmes such as Tunas Usahawan Belia Bumiputera and GROWBiz, which focus on entrepreneurship development, training, and business expansion.

Meanwhile, the Global Value Chain initiative is expected to help SMEs from high-growth sectors enter international markets through planned business matching programmes.

“Companies with official MSME status and strong performance ratings would have greater opportunities to participate in export-focused and expansion programmes aimed at improving competitiveness and sustainability,” Zubaidah said.

On its part, SME Corp Malaysia said announcements and updates on its programmes and initiatives would continue to be shared through its official website and social media platforms.

Originally published by Media Selangor.

Asia School of Business President & Dean, Professor Joseph Cherian, recently participated in the 2026 Tsinghua PBCSF Global Finance Forum, held on May 18 & 19, 2026, in Chengdu, China. During the forum, Professor Cherian joined a panel discussion, where he shared his perspectives on key financial trends and challenges shaping the industry.

(Q1）From a global perspective, how will aging fundamentally reshape the financial ecosystem, particularly in areas such as pensions, capital markets, asset management, and insurance? What is your view on this profound shift?

From a U.S. lifecycle and capital markets perspective, several important lessons emerge that may also be relevant for countries facing similar demographic transitions.

1. During the baby boomer era (1960–2025), U.S. equity markets experienced extraordinary growth, supported in large part by sustained demand for equities from retirement and wealth accumulation portfolios. Over this 65-year period, U.S. equity markets generated total returns of approximately 11% per annum. As a result, an investment of approximately USD 1,200 in 1960 would have grown to well over USD 1 million by 2025.
2. The key question going forward is how capital markets will evolve in the post–baby boomer era, characterized by aging populations and slower demographic growth. As societies age, one could reasonably expect future equity risk premiums to moderate, resulting in lower expected long-term equity returns relative to historical experience.
3. This demographic shift places increased importance on the design and sustainability of pension systems.

(i) During the accumulation phase, retirement savings should ideally be invested prudently through low-cost, highly diversified portfolios incorporating glide-path strategies that gradually shift from higher-risk to lower-risk assets as individuals approach retirement. This approach aligns closely with principles of liability-driven investing (LDI) and broader asset-liability management (ALM) frameworks.

(ii) During the retirement or decumulation phase, retirees primarily seek:

• stable and predictable income,
• income that lasts throughout retirement, and
• protection against inflation and rising living costs.

One financial product that addresses these objectives is the inflation-indexed life annuity. Such products should be provided efficiently and at low cost, potentially supported through appropriate forms of government facilitation or intervention to improve accessibility and affordability.

(iii) In this context, pension systems may ultimately need to evolve toward hybrid defined contribution/defined benefit (DC/DB) structures that combine individual savings flexibility with elements of income security and longevity protection.

4. Consequently, asset management and insurance companies must be prepared to offer affordable, outcome-oriented retirement solutions tailored to the needs of aging populations. At present, relatively few pension systems adequately address the true objectives of retirees. Too often, the industry remains focused on distributing products that maximize commissions or fees rather than delivering long-term client outcomes. This mindset will need to change as demographic pressures intensify.

(Q2）Against the backdrop of low interest rates and demographic aging, pension funds are playing an increasingly important role as patient capital. What changes are taking place in the asset allocation strategies of such patient capital? More importantly, how will these changes reshape the structure of capital markets?

Patient capital, by definition, is long-term capital. Drawing from my experience as former Head of Portfolio Management in New York, where I managed approximately USD 67 billion across global asset classes and investment strategies, I can confidently say that few things are more detrimental to retirement portfolios than:

• excessive fees,
• frequent trading that generates unnecessary transaction costs, and
• attempts to market-time retirement portfolios.

By market timing, I refer to investors treating their retirement savings as though they were running a Global Tactical Asset Allocation (GTAA) hedge fund strategy – rapidly shifting in and out of asset classes in response to short-term market movements. In most cases, this behavior destroys long-term value. Retirement investing should not be approached opportunistically or tactically at every market turn. Rather, investors are generally better served by maintaining disciplined diversification over the long term. Reducing unnecessary trading also minimizes commissions and transaction costs paid to intermediaries.

With respect to alternative investments, high-quality strategies in private equity, private credit, hedge funds, digital assets, or security token products can all have a legitimate role within institutional portfolios, particularly when they offer appropriate risk-adjusted returns and are priced attractively.

That said, investors should avoid falling into the trap of return chasing. At present, there is considerable enthusiasm surrounding areas such as private credit, artificial intelligence, and data center-related investments. While these sectors and financial products are likely to remain important components of the global economy, enthusiasm should not translate into excessive portfolio concentration. Sound portfolio construction ultimately depends on prudent diversification, disciplined risk management, and avoiding over-allocation to fashionable asset classes or investment themes.

Guest: Dr Melati Nungsari (Associate Professor II of Economics), Asia School of Business

For decades, Malaysia’s fuel subsidy system has largely been broad based, with pump prices kept lower for everyone regardless of income level. It has become seen as an entitlement which even before the current crisis was a huge burden on the state. Girding its loins, Putrajaya has been signalling that painful changes for motorists are afoot. The government says it is finalising a proposal to review fuel subsidies for higher income groups, although the exact cutoff, whether T20, T15 or narrower, has yet to be decided. More crucially it isn’t clear that systems like PADU can support a more targeted approach. So will it even happen?