Kuala Lumpur, 6 May 2010: The national deposit insurer, Perbadanan Insurans Deposit Malaysia (PIDM), today released its Annual Report 2009 outlining continued efforts to ensure operational readiness in the performance of its mandate.
“Recent global experiences have demonstrated that the consequences of financial crises can be large and costly, and impressed upon us the necessity of being ready to carry out our mandate at all times,” said Mr. Jean Pierre Sabourin, Chief Executive Officer of PIDM.
“In 2009, we focused on readiness including detailing all our approaches, policies and procedures, as well as developing a sound infrastructure to deal with various aspects of an intervention and failure resolution,” said Sabourin.
“I am pleased to report that for 2009, PIDM has completed all key initiatives under budget while continuing to reinforce sound governance practices and managing our risks effectively,” Sabourin noted.
For the financial year ended 31 December 2009, PIDM recorded total revenues of RM139.4 million, comprising RM131.8 million in premiums and RM7.6 million in investment income. Operating expenditures totalled RM44.9 million resulting in a net surplus of RM94.5 million. PIDM’s total Deposit Insurance Funds as at the end of 2009 amounted to RM369.9 million, with the Conventional Deposit Insurance Fund of RM320.9 million and the Islamic Deposit Insurance Fund of RM49.0 million.
Referring to PIDM’s continued emphasis on disclosure and reporting, Sabourin said, “PIDM is committed to providing comprehensive information on its operations, and this effort was recognised when we were awarded ‘Best Annual Report’ of Non-Listed Organisations for our Annual Report 2008 by the National Annual Corporate Report Awards (NACRA) for excellence in corporate reporting.”
The Annual Report 2009 is available at the PIDM website (www.pidm.gov.my) in four languages – Bahasa Malaysia, English, Chinese and Tamil.
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For more information about this press release, kindly contact:
S.Loganathan, General Manager, Communications and Public Affairs Division
(Tel: 03-2173 7455; Email: loga@pidm.gov.my)
Sarina Ariffin, Manager, Communications and Public Affairs Division
(Tel: 03-2173 7457; Email: sarina@pidm.gov.my)
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ABOUT PIDM
PIDM administers the statutory deposit insurance system in Malaysia that provides protection – automatically – on all ringgit and foreign currency deposits with commercial banks, Islamic banks, investment banks, international Islamic banks and deposit-taking development financial institutions regulated by Bank Negara Malaysia.
For further information:
- Call 1-800-88-1266, 8.30am to 5.30pm on Monday – Friday (excluding public holidays)
- Email: info@pidm.gov.my
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