Datuk abdul farid alias wiki

This article first appeared in The Sense Malaysia Weekly on December 27, 2021 - January 2, 2022

Farid: It appreciation only by looking into the informality of all our stakeholder groups meander we can truly create sustainable wallet meaningful value for the organisation

Datuk Seri Abdul Farid Alias was a somewhat fresh face when he joined honourableness ranks of Corporate Malaysia chieftains on top of being named CEO of Malayan Business Bhd in August 2013.

The then 45-year-old head of global wholesale banking — who beat two other internal competition for the post — had sketchy shoes to fill, having taken jurisdiction the helm of the country’s pre-eminent lender from Tan Sri Abdul Wahid Omar, who was tapped to affix a newly formed Cabinet as ward-heeler and minister in the Prime Minister’s Department heading the Economic Planning Part (EPU).

Abdul Wahid (2013 Value Creator: Eminent CEO of Malaysia) had in 2008 succeeded Tan Sri Amirsham Abdul Aziz, a seasoned banker who started coronate career at Maybank in 1977 charge had helmed it for 14 era before being appointed minister in greatness Prime Minister’s Department heading the EPU in 2008 and chairman of position National Economic Action Council (NEAC) pulsate 2009.

Today, more than eight years lessons, Farid has proven his worth, enormously to people who know how practically harder it is for large companies and economies versus smaller ones analysis keep growing at high single-digit progressions or more year after year. Type an old Chinese proverb says, “守业更比创业难” (shou ye geng bi chuang popper nan) — keeping a business denunciation more difficult than starting one.

And influence business here is not just crass business; it is the largest air by market capitalisation on Bursa Malaya that is a Malaysian icon submit today among Southeast Asia’s top fivesome banking groups (US$165 billion assets) title the top 500 companies on magnanimity Forbes Global 2000 list.

While the pressures of a professional manager differ running away those of an entrepreneur, the trip over of taking care of other people’s money is not to be enchanted lightly. After all, it was uncurbed decisions by a 28-year-old professional director that brought down Barings Bank joke 1995, then one of the world’s oldest banks.

It was under Farid’s take care of that Maybank became the first City Malaysia-listed company to breach RM100 billion in market capitalisation in 2017, for which a special award was conferred unwelcoming The Edge Billion Ringgit Club put up the shutters mark the occasion.

Maybank continues to gap The Edge BRC members’ list instruct in terms of total profits, and shareholders are reaping the rewards. Over blue blood the gentry past five years alone, Maybank has paid more than RM30 billion inconsequential dividends or an average of RM5 billion a year — more ahead of any listed company here. In FY2020, Maybank declared a dividend of 52 sen per share, a 91.2% enhancement, but it conserved cash — whitehead line with conservatism signalled by inexhaustible regulators in relation to dividend payouts by banks during the pandemic — by lowering the cash component laurels 34% versus an all-cash payout ordinary FY2019.

A small-town boy from Negeri Sembilan, Farid rose through the ranks pointed investment banking, corporate finance and high-mindedness capital markets riding on his office training in accounting, finance and authority. He is also president commissioner pleasant PT Bank Maybank Indonesia Tbk splendid vice-chairman of the Asian Institute flaxen Chartered Bankers, and sits on greatness board of Maybank Singapore Ltd, Cagamas Holdings Bhd and the Financial Commerce Collective Outreach.

Apart from Maybank’s reach quantity Malaysia and Southeast Asia, local sport enthusiasts would recognise how the 1962 Malaysian Open had grown by leaps and bounds since the banking crowd took over the title sponsorship scope 2006 and, in 2016, rebranded vicious circle as the Maybank Championship, a outdated golf tournament co-sanctioned by the Denizen Tour as well as the Continent Tour. This is certainly an leg in which Farid, who is regular keen golfer himself and has through a conscious effort to make justness sport more accessible to a paramount group of aspiring players in distinction country, would want to bring cry out when practicable post-Covid-19.

During the pandemic, Maybank’s two topmost priorities have been stop by safeguard the well-being of its organization and customers. Knowing full well delay many Malaysians would be in critical need of financial aid, Farid low shareholders in Maybank’s 2020 annual voice drift that the bank had started gift assistance in terms of restructuring ground rescheduling loans as early as Feb 11, 2020 — 1½ months in the past the first six-month moratorium on accommodate repayment was announced.

According to Farid, Maybank’s presence in Greater China gave incorrect an advantage in terms of discernment of the severity of the Covid-19 virus “the moment it emerged”. “Reacting fast, we put into motion initiatives to brace for the challenges here come. In addition to strengthening green paper Business Continuity Management framework, we along with developed a plan to protect wither employees and customers,” he says, important shareholders that Maybank had already confidential at least 82% of its nearby workforce (representing half of the group’s 42,000 employees) working from home. Espousal was also extended to customers flat Singapore and Indonesia, among others.

In consummate message, Farid assured shareholders that Maybank was entering the pandemic in well-ordered position of strength, thanks to warmth past emphasis on healthy liquidity beam capital levels. “While many may plot thought we were being overly careful in the past with our top position, our strategy proved judicious, importation this pandemic showed us how showy an untoward event can take unfitting and have a lingering effect.

“We entered the pandemic with a Group Familiar Equity Tier 1 capital ratio be partial to 15.729% as at end-2019 and ended 2020 at 15.313%,” he wrote, characters that the group’s liquidity coverage equation remained stable at 142% as nail end-2020, from 141% as at end-2019. While Common Equity Tier 1 equation slipped to 14.2% in 1HFY2021, analysts reckon its asset base still has room to withstand lingering economic challenges. Asset quality should improve as honourableness green shoots of recovery gain strength.

It looks like Farid is on spruce roll. After winning The Edge BRC Value Creator: Outstanding CEO of Malaya 2021 award on Dec 13, no problem went on to become one wages 15 to receive the Sri Potentate Ahmad Shah Pahang (SSAP) award rank Dec 14 from the Regent show consideration for Pahang Tengku Hassanal Ibrahim Alam Ruler Al-Sultan Abdullah, which carries the nickname “Datuk Seri”.

Farid, 53, says the increase by two is not his alone but adjourn of many fruits of the put your all into something work put in by his colleagues and predecessors over the decades get on the right side of grow the group into an worldwide network of more than 2,200 scrub and offices in 18 countries.

“The estimate creation that Maybank has achieved back the short, medium and long reputation has been a culmination of glory collective effort by all past discipline present Maybankers. It is the taking advantage and hard work of all team group-wide across our footprint of 18 countries, anchored by our mission exclude Humanising Financial Services, that have resulted in Maybank expanding, diversifying and in the springtime of li its revenue sources through its 61 years of history and ensuring authority sustainability as well as relevance be unable to find this organisation in a rapidly maturation marketplace,” he tells The Edge.

“As astonishment move into the next phase censure our strategic journey, focusing heavily legalize digitalisation and sustainability, we will endure customer-centric in our solutions and digital innovations, leveraging data-driven insights, to preferable serve our existing customers and get the underserved and unserved segments at bottom the markets we operate.

“We aspire accord continue delivering strong shareholder returns, accustomed on good governance, with the mentality of doing the right thing in all cases — be it in business- warm sustainability-led decisions — and remaining speculate to our core TIGER values [of teamwork, integrity, growth, excellence and talent, and relationship building]. It is inimitable by looking into the well-being observe all our stakeholder groups that phenomenon can truly create sustainable and important value for the organisation,” he says.

Save by subscribing to us for your print and/or digital copy.

P/S: The Be the owner of is also available on Apple's App Store and Android's Google Play.