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AT TAYLOR'S: Kelly Tee (PeiLeng.Tee@taylors.edu.my)
PROJECT PARTNER: Refer to 'Partners' section
The AKPK-AIM project is a Taylor’s Business School (TBS) collaboration with Agensi Kaunseling dan Pengurusan Kredit (AKPK) and Amanah Ikhtiar Malaysia (AIM). AKPK is a government body under the arm of Bank Negara Malaysian (BNM) and was set up in April 2006 to help individuals take control of their financial situation by providing for free financial education on the responsible use of money and counselling and advice on financial management. AKPK has identified AIM to come on board this pilot project which is a government agency providing micro-credit loans to low income groups.
 
Taylor’s University is the first private university in the country to embark on this unique collaboration with a government agency in providing financial literacy knowledge to the community. This project was carried out by the Banking & Finance and Finance & Economics students. The students were trained by AKPK to assist 25 members (sahabats) of AIM who are small-business entrepreneurs in organizing their personal documents and advising them on some aspects of their business e.g. registration, budgeting, marketing and etc.
 
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The students worked closely with the 25 sahabats for five weeks on the following:
  1. Compile and monitor sahabats’ monthly budget and cashflow.
  2. Register their business with Suruhjaya Syarikat Malaysia (SSM)/ROC.
  3. Help them to structure a marketing plan for their business.
Overall, the project is a success as the AIM sahabats learnt the strength and weaknesses of their business and the importance of keeping and monitoring their monthly budget. Friendships were also forged throughout the five weeks as both parties learnt from each other. Additionally, this project provided the students first-hand insights into the success and struggles that their sahabats encountered in their daily life and daily business operations. The project has thought them to be appreciative and thankful with what they have. Furthermore, the students learnt the importance of having and keeping a monthly budget in order to be financially prudent. Last but not least, they learnt an important concept which was to pay oneself first before paying their dues and commitments upon receiving an income as this is a first step of prudent saving.
 
For further information on AKPK and AIM, please visit their website at http://www.akpk.org.my/ and http://www.aim.gov.my/. For further details on the project, kindly email Ms. Tee at peileng.tee@taylors.edu.my


Written by Kelly Tee Pei Leng
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