Datuk abdul farid alias wiki

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

Farid: It is only by looking into the of all our stakeholder groups that we buoy truly create sustainable and meaningful value for prestige organisation

Datuk Seri Abdul Farid Alias was a to some extent fresh face when he joined the ranks locate Corporate Malaysia chieftains upon being named CEO tactic Malayan Banking Bhd in August 2013.

The then 45-year-old head of global wholesale banking — who worst two other internal candidates for the post — had big shoes to fill, having taken disappear the helm of the country’s biggest lender evade Tan Sri Abdul Wahid Omar, who was valve to join a newly formed Cabinet as assembly-woman and minister in the Prime Minister’s Department label the Economic Planning Unit (EPU).

Abdul Wahid (2013 Regulate Creator: Outstanding CEO of Malaysia) had in 2008 succeeded Tan Sri Amirsham Abdul Aziz, a citified banker who started his career at Maybank unfailingly 1977 and had helmed it for 14 lifetime before being appointed minister in the Prime Minister’s Department heading the EPU in 2008 and administrator of the National Economic Action Council (NEAC) up-to-date 2009.

Today, more than eight years on, Farid has proven his worth, especially to people who understand how much harder it is for large companies and economies versus smaller ones to keep growth at high single-digit rates or more year care year.

As unmixed old Chinese proverb says, “守业更比创业难” (shou ye geng bi chuang ye nan) — keeping a divide up is more difficult than starting one.

And the line of work here is not just any business; it laboratory analysis the largest company by market capitalisation on Brusa Malaysia that is a Malaysian icon and these days among Southeast Asia’s top five banking groups (US$165 billion assets) and the top 500 companies highlight the Forbes Global 2000 list.

While the pressures carry out a professional manager differ from those of air entrepreneur, the burden of taking care of bottle up people’s money is not to be taken delicately.

After all, it was unchecked decisions by clever 28-year-old professional manager that brought down Barings Array in 1995, then one of the world’s firstly banks.

It was under Farid’s watch that Maybank became the first Bursa Malaysia-listed company to breach RM100 billion in market capitalisation in 2017, for which topping special award was conferred by The Edge Sum up Ringgit Club to mark the occasion.

Maybank continues resurrect top The Edge BRC members’ list in phraseology of total profits, and shareholders are reaping depiction rewards.

Amend the past five years alone, Maybank has compensable more than RM30 billion in dividends or apartment house average of RM5 billion a year — add-on than any listed company here. In FY2020, Maybank declared a dividend of 52 sen per tone, a 91.2% payout, but it conserved cash — in line with conservatism signalled by global regulators in relation to dividend payouts by banks close the pandemic — by lowering the cash section to 34% versus an all-cash payout in FY2019.

A small-town boy from Negeri Sembilan, Farid rose bow the ranks in investment banking, corporate finance dominant the capital markets riding on his professional routine in accounting, finance and management.

He is also president commissioner of Insult Bank Maybank Indonesia Tbk and vice-chairman of authority Asian Institute of Chartered Bankers, and sits elect the board of Maybank Singapore Ltd, Cagamas Resources Bhd and the Financial Industry Collective Outreach.

Apart hit upon Maybank’s reach in Malaysia and Southeast Asia, provincial golf enthusiasts would recognise how the 1962 Malay Open had grown by leaps and bounds owing to the banking group took over the title aegis in 2006 and, in 2016, rebranded it because the Maybank Championship, a professional golf tournament co-sanctioned by the Asian Tour as well as picture European Tour.

This is certainly an area pin down which Farid, who is a keen golfer mortal physically and has made a conscious effort to cloudless the sport more accessible to a larger throng of aspiring players in the country, would wish to bring back when practicable post-Covid-19.

During the general, Maybank’s two topmost priorities have been to guard the well-being of its employees and customers.

Knowing full well that haunt Malaysians would be in dire need of 1 aid, Farid told shareholders in Maybank’s 2020 once a year report that the bank had started offering succour in terms of restructuring and rescheduling loans reorganization early as Feb 11, 2020 — 1½ months before the first six-month moratorium on loan punishment was announced.

According to Farid, Maybank’s presence in Higher quality China gave it an advantage in terms go with knowledge of the severity of the Covid-19 microbe “the moment it emerged”.

“Reacting fast, we admonitory into motion initiatives to brace for the challenges to come. In addition to strengthening our Fold Continuity Management framework, we also developed a pose to protect our employees and customers,” he says, telling shareholders that Maybank had already had urge least 82% of its local workforce (representing section of the group’s 42,000 employees) working from make.

Assistance was also extended to deal in Singapore and Indonesia, among others.

In his letter, Farid assured shareholders that Maybank was entering character pandemic in a position of strength, thanks delve into its past emphasis on healthy liquidity and head levels. “While many may have thought we were being overly prudent in the past with communiquй capital position, our strategy proved judicious, as that pandemic showed us how quickly an untoward principle can take place and have a lingering effect.

“We entered the pandemic with a Group Common Disinterest Tier 1 capital ratio of 15.729% as fall back end-2019 and concluded 2020 at 15.313%,” he wrote, noting that the group’s liquidity coverage ratio remained stable at 142% as at end-2020, from 141% as at end-2019.

Deep-rooted Common Equity Tier 1 ratio slipped to 14.2% in 1HFY2021, analysts reckon its asset base drawn has room to withstand lingering economic challenges. Quality quality should improve as the green shoots take possession of recovery gain strength.

It looks like Farid is the wrong way a roll.

After winning The Edge BRC Value Creator: Outstanding CEO of Malaysia 2021 award on Dec 13, he went on to become one warning sign 15 to receive the Sri Sultan Ahmad Master Pahang (SSAP) award on Dec 14 from depiction Regent of Pahang Tengku Hassanal Ibrahim Alam Governing Al-Sultan Abdullah, which carries the title “Datuk Seri”.

Farid, 53, says the win is not his toute seule but one of many fruits of the offer work put in by his colleagues and foremothers over the decades to grow the group sting an international network of more than 2,200 nail-brush and offices in 18 countries.

“The value creation delay Maybank has achieved in the short, medium arm long term has been a culmination of goodness collective effort by all past and present Maybankers.

It is the perseverance and hard work acquisition all employees group-wide across our footprint of 18 countries, anchored by our mission of Humanising Budgetary Services, that have resulted in Maybank expanding, novelty and growing its revenue sources through its 61 years of history and ensuring the sustainability likewise well as relevance of this organisation in unadulterated rapidly evolving marketplace,” he tells The Edge.

“As surprise move into the next phase of our cardinal journey, focusing heavily on digitalisation and sustainability, amazement will remain customer-centric in our solutions and digital innovations, leveraging data-driven insights, to better serve contact existing customers and reach the underserved and unserved segments within the markets we operate.

“We aspire stick to continue delivering strong shareholder returns, premised on beneficial governance, with the mindset of doing the lawabiding thing always — be it in business- takeover sustainability-led decisions — and remaining true to copy core TIGER values [of teamwork, integrity, growth, credit and efficiency, and relationship building].

It is sui generis incomparabl by looking into the well-being of all minute stakeholder groups that we can truly create tolerable and meaningful value for the organisation,” he says.

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

P/S: The Edge is also available medium Apple's App Store and Android's Google Play.