SINGAPORE, 6 February 2024 – CGS International Securities (CGS International) announced that Muhammad Zulfakar Aiman Bin Zulkarnain from Malaysia has emerged as the grand champion of the first ASEAN Investment Challenge (AIC) 2023. He took home a total of over S$21,400 in cash to kickstart his financial journey.
The ASEAN Investment Challenge is the first and only investment challenge for students, supported by four stock exchanges in Malaysia, Indonesia, Singapore, and Thailand.
In order to equip students in Malaysia, Indonesia, Singapore, and Thailand (MIST) with an understanding of sustainable investment and help develop robust capital markets, CGS International created the AIC in July 2023. The AIC, which is the only investment challenge endorsed by all four local stock exchanges (Bursa Malaysia, Indonesia Stock Exchange, Singapore Exchange, and Stock Exchange of Thailand), attracted over 5,000 students from more than 500 institutes of higher learning throughout the four nations.
Investment and finance professionals provided participants with a comprehensive education and practical experience in investing in environmental, social, and governance (ESG)-related securities during the course of the eight-month challenge. They tested their new investment abilities against other teams locally first, using a simulation platform with real-time data. On February 2, 2024, in Singapore, the top student from each nation advanced to the final presentation in front of a panel of distinguished judges.
Carol Fong, Group CEO of CGS International, said: “I am very heartened by the success of the inaugural AIC. CGS International is driven by our purpose to empower individuals and communities to make better investment decisions for a sustainable tomorrow. The AIC makes an impact at both individual and industry levels; It empowers youths with lifelong finance management skills and sustainable investment knowledge, which will hopefully contribute to the building of strong capital markets in the region. We will work towards building the AIC into a beacon for the future of finance and cultivating the next generation of responsible and knowledgeable investors.”
Winners of the local and regional challenges received a total of S$75,000 in cash. Among the judging criteria were risk management, incorporation of ESG factors, and presentation skills.
Tan Boon Gin, CEO, Singapore Exchange Regulation, and one of the judges, said: “It was a great pleasure to witness the ingenuity of the students through their investment plans. We were impressed by the quality of the presentations and eventually, the three winners stood out because of their detailed and holistic investment plans which they were able to articulate clearly to the judges. I hope that the challenge can continue to develop these latent talents to become future finance leaders.”
“Joining the AIC really opened my eyes to the world of investing and showed me that it is possible for me to take charge of my financial future. CGS International gave us the knowledge and tools to develop investment skills which we would not have received in our classrooms. I am very grateful for this opportunity and will try to use these skills to improve my life as well as to help others,” said Muhammad Zulfakar Aiman.
Picture: Finalists of the ASEAN Investment Challenge 2023 with judges and event organisers.