KUALA LUMPUR, 15 June 2007 - SAS Malaysia has been appointed by Perbadanan Insurans Deposit Malaysia (PIDM) to provide its Business Intelligence technology to develop leading edge risk assessment and monitoring tools to help it achieve its mandate as the national deposit insurer.
The partnership between SAS and PIDM was announced at a closed-door ceremony in Kuala Lumpur today.
Jimmy Cheah, Managing Director of SAS Malaysia said that SAS’s wealth of international experience in providing solutions for specific industries coupled with its proven platform environment will be applied to help PIDM build the tools it requires.
“Today’s business climate calls for better and timely information to fulfill the increasing demands for transparency and sound corporate governance. As the volumes of data continue to increase exponentially, being able to intelligently analyze the right information and make the right inference is key. With SAS’s powerful yet easy-to-use reporting system, PIDM will be able to pull together critical information and be able to perform required analysis,” says Cheah.
“SAS is honored to have been selected by PIDM to help develop a risk and monitoring system to meet its needs.”
Jean Pierre Sabourin, PIDM’s Chief Executive Officer (CEO), stated that PIDM’s role is to administer an effective deposit insurance system to protect Malaysian depositors. We believe SAS’ Risk Assessment solution will provide us the platform to manage our statistical data effectively,” says Sabourin.
Starting June this year, PIDM and SAS will begin the development of the first phase of the three-year risk assessment system project.
Perbadanan Insurans Deposit Malaysia (PIDM) was formed under the Malaysia Deposit Insurance Corporation Act 2005, with a mandate to administer the deposit insurance system in Malaysia. Deposit insurance is a system established by the Government to protect depositors against the loss up to RM60,000 of their insured deposits placed with member institutions in the unlikely event a member institution is unable to meet its obligations to depositors. As the national deposit insurer, a key aspect of PIDM’s work is to asses and monitor the inherent risk of providing deposit insurance and to promote and contribute to the stability of Malaysia’s financial system.
SAS is the leader in business intelligence and analytical software and services. Customers at 43,000 sites use SAS software to improve performance through insight from data, resulting in faster, more accurate business decisions; more profitable relationships with customers and suppliers; compliance with governmental regulations; research breakthroughs; and better products and processes. Only SAS offers leading data integration, storage, analytics and business intelligence applications within a comprehensive enterprise intelligence platform. Since 1976, SAS has been giving customers around the world THE POWER TO KNOW®. www.sas.com
For more information :
Tel: 03-2162 2227
Zeti Z. Zainul
Tel : 03-2260 7436
PIDM protects your deposits in the bank as well as your takaful and insurance benefits in the unlikely event of a failure of a member bank or a takaful operator / insurance company.