(From left) Association of Seniors in Islamic Finance (ARIF) chairman Datuk Mohd Redza Shah Abdul Wahid, Leong, K. Selvakumar, Choo, Special Advisor to the Deputy Prime Minister Datuk Wan Ahmad Shihab Ismail and BIMB Investment independent non-executive director Datuk Seri Dr Mohamad Zabidi Ahmad at the open- ing ceremony of the professional certification course.— Photos by LOW LAY PHON/The Star
FINANCIAL freedom, the ability to manage one’s finances without constraints, not only enhances an individual’s quality of life but also fuels a nation’s economic growth by fostering entrepreneurship, investment and overall prosperity.
Personal financial freedom is a cornerstone of a country’s collective financial well-being, laying the foundation for economic stability and opportunity.
With these aspirations, WCEI Academy has extended its various initiatives to groom individuals from all walks of life and different age groups, helping them achieve financial freedom and contribute to nation-building.
One such initiative involved a recent collaboration with Genovasi University College (Genovasi) to jointly introduce its professional certification course in financial quotient (financial IQ, FQ) for individuals aiming to achieve financial independence.
WCEI Academy founder Dr Stephen Choo, provided insights into the Professional Certification Course in Financial Quotient for Entrepreneurs when hosting the WI Scholar Summit from Oct 26-28.
Dr Choo shared that an impressive cohort of 1,087 dedicated individuals, aged between 17 and 80 years, have successfully graduated from the course at this year’s event.
“We envision this course as a transformative platform that equips our graduates with robust financial acumen and skills,” Dr Choo told The Star.
The primary expectation is to nurture informed, analytical thinkers capable of navigating the intricate realms of finance with confidence.
He elaborated, “Through this, we anticipate that our alumni will become influential catalysts in the financial sector, driving innovation and setting benchmarks for excellence.”
To attract bright minds to enrol in this course, Dr Choo explained that WCEI utilises a multi-faceted approach:
> Digital outreach: Leveraging the power of social media platforms to highlight course benefits, success stories, and industry relevance.
> Academic collaborations: Forming partnerships with premier educational institutions to introduce the course to potential aspirants.
> Engaging events: Hosting webinars and workshops led by industry experts, to provide valuable insights into the financial landscape.
> Adaptive learning modes: Offering flexible learning pathways like online modules and part-time sessions to cater to diverse learning needs and schedules.
He emphasised that the course structure is meticulously designed to be inclusive, covering a spectrum of financial topics, from foundational concepts to nuanced areas of financial strategy and analytics.
“This gradient learning approach ensures that both beginners and those with some financial background find the curriculum enriching, challenging and tailored to their unique learning journeys.”
MBR officer Edwin Yeoh Tieng Chin awarding the WCEI the recognition for organising the ‘Largest Financial Quotient for Entrepreneurs Convocation’ to Choo.
Dr Choo recommended consulting the course administration team for a detailed fee breakdown, including potential early bird discounts or group enrolment benefits.
While scholarships for this course are not presently available, WCEI is actively exploring options to make education more accessible.
“We are in deliberations to introduce scholarship programmes in the near future to support meritorious and deserving students in their academic pursuits,” he highlighted.
Held at Malaysia International Trade and Exhibition Centre (Mitec) in Kuala Lumpur, the summit, attended by 1,300 people, explored the future development of the fields of financial intelligence and education.
Humble beginnings
On the first day, during the opening ceremony of the professional certification course, Dr Choo shared his family’s humble financial background, which compelled him to seek advice from his teacher on how to attain financial success.
His teacher advised him those proper avenues included finding a good job, which would secure a comfortable retirement.
This advice inspired him to learn more about investment and financial literacy abroad, with the goal of sharing this knowledge and helping others achieve financial freedom.
He shared that WCEI has trained over 100,000 professionals in financial intelligence.
On the topic of entrepreneurship, Dr Choo emphasised the importance of preparation, courage and goal-setting as keys to success, all of which can be enhanced through education.
In his opening speech MY Premier Trustee (Malaysia) Bhd director K. Selvakumar shared that, “Financial intelligence lies at the heart of our economies and societies, whether it’s the poorest members of society or emerging middle classes in growing economies.
“Such ability is required and essential to earn, manage and use money, enabling all other economic activities.
“Providing people with the financial knowledge and skills to manage their money for themselves and their families empowers individuals from all walks of life, from the poorest workers to business owners and entrepreneurs seeking financial independence and success.
“Financial inclusion and financial literacy give them more power and provide them with more choices as individuals, ultimately forming the core of economic growth and development.”
He explained that MY Premier has recently become part of the education platform.
As a licensed trust corporation, it can impart knowledge on the Four Important Pillars of Wealth - Wealth Identification, Wealth Creation, Wealth Management and Wealth Distribution.
Lifelong learning
Genovasi founder and executive director Prof Dr Thomas Leong expressed his hope that those who graduated from the course would continue to pursue higher education.
“This is your first step, and I hope to see you again at graduation stages, receiving all the qualifications you deserve.
“There is nothing to share if there is no wealth creation.
“With financial knowledge, you will be able to help the country progress further,” he said, adding that Genovasi offers 24-degree programmes, including one in financial intelligence.
In a later session, Strategic Capital Advisory director Ng Woon Lit explained that financial quotient (FQ), also referred to as financial intelligence, is “the ability to obtain and manage your wealth.”
Ng, who is a corporate finance advisor, said that FQ is measured based on six categories – spending, credit and debts, career and income, investing, financing, as well as risks and protection.
Among others, Ng explained the importance of financial statements for making informed decisions, the due diligence process involved in business operations, calculations to determine if a company is making a profit, valuation methodologies and the journey of an initial public offering (IPO).
Additionally, Prof Leong also shared his insights on his topic of Introduction to Design Thinking, which offers a novel approach to thinking that can be applied to the fields of financial intelligence and education, assisting participants in better addressing complex problems.
Enho & Grace Partners also shared best practices in the field of financial intelligence and education, along with insights on how to address future challenges and opportunities.
The second day featured financial and educational seminars, which emphasised collaboration between educational institutions and industries to achieve shared success objectives.
It also provided an overview of Malaysia’s economic future and sustainability aspects.
Deserving recognition
On the third day, WCEI celebrated the awarding of diplomas to 61 graduates and professional certificates to over 1,000 graduates. Of this figure, 60% were Malaysians, while 20% were Taiwanese.
The remaining graduates came from Thailand, Myanmar, Vietnam, Singapore, Hong Kong and the Republic of China.
Engineer James Tee, 32, from Singapore, who received his professional certification, said that he had enjoyed learning about FQ from Dr Choo.
He stated that the course was helpful in teaching him about investing in stocks and described it as a “good and powerful enrichment programme” in FQ.
He added that the course was conducted both online and offline, providing participants with the knowledge on how to invest for earnings.
Retired medical centre owner Kao Shang Chi, 77, from Taiwan, said she decided to enrol for the certification course to “learn how to make more money” and to impart knowledge to her children and grandchildren.
“Learning has no age limit, that’s why I am willing to travel from Taiwan to learn about this.
“The knowledge on FQ is very good and I can teach my next generations to be smarter in finance.
“I also want to educate my Taiwanese friends,” Kao said, adding that she was among 30 Taiwanese who have enrolled for the certification course.
Fellow Taiwanese, former medical trainer Emma Ho, 63, said that she found the course to be informative, and useful for sharing with her friends.
“Dr Choo gave us good insights and I enjoyed the course. Finance topics are important.”
Dr Choo delivered his speech, reflecting on the accomplishments of the academy and encouraging the graduates to continue pursuing excellence in their future careers.
The Malaysian Book of Records also recognised WCEI for remarkable achievements in the fields of financial intelligence and education, under the category “Largest Financial Quotient for Entrepreneurs Convocation.”
For more information, visit www.wceiacademy.com.
