Kuala Lumpur, 24 April 2019:
Perbadanan Insurans Deposit Malaysia (PIDM) today released its Annual Report 2018. Themed ‘Engaging Stakeholders’, the report highlights PIDM’s achievements against its strategic priorities.
“In 2018, a significant focus area was ‘Engaging Stakeholders’. We recognise the importance of continuous engagement with the public, of building relationships with our stakeholders, and understanding stakeholder interests, so that we can work together to promote the stability of the financial system and Malaysians as a whole. Public trust and confidence is particularly important to us, given our mandate to promote confidence in the stability of the financial system,” said Rafiz Azuan Abdullah, Chief Executive Officer of PIDM.
The ‘Jelajah Komuniti PIDM’ awareness campaign was carried out to shape the attitudes of targeted grassroots communities towards PIDM using a direct engagement approach. PIDM reached out to 10,800 persons through this campaign, which was held across Kedah, Pulau Pinang and Perak.
In particular, PIDM also worked at establishing the needed relationships with industry and familiarising stakeholders with PIDM, our mandate and our goals. This is in anticipation of the need to work closely with the industry in order to effectively carry out resolution planning. In 2019, the resolution planning exercise will be carried out with a few pilot banks before we undertake resolution planning, in phases, with the rest of our member institutions.
In line with the Malaysian Code on Corporate Governance 2016, which recommends integrated reporting as exemplary practice for effective disclosure of non-financial information, PIDM has also commenced its journey in integrated reporting by referencing the International Integrated Reporting Council’s Integrated Reporting Framework with its 2018 Annual Report.
“We are pleased to be one of the first few public sector entities in Malaysia to commence on this journey. As a regulator, we believe that the integrated reporting approach, which encourages a focus on material matters and conciseness, is one of the best ways of communicating better our value and purpose to our stakeholders,” said Rafiz.
In 2018, PIDM reported a total income of RM588.5 million with an operational net surplus of RM488.2 million, increasing its total funds and reserves to RM4.1 billion.
To learn more about PIDM’s strategic vision, financial performance, corporate governance, and value creation for all its stakeholders, please visit www.pidm.gov.my/AR2018
. PIDM’s Summary of the Corporate Plan 2018 – 2020 is also available at www.pidm.gov.my
PIDM is a statutory body that provides protection against the loss of deposit and insurance or takaful benefits with its member institutions in the event of a failure. PIDM is entirely funded by premiums or levies assessed on its member institutions and does not receive public funds to operate. It has the means under the PIDM Act to borrow or raise such funds as may be needed to fulfil its statutory obligations to protect financial consumers of its member institutions. As an integral part of the national financial safety net, PIDM promotes and contributes to the stability of the financial system.
For further information:
|For more information about this press release, kindly contact:
Masami Mustaza, Manager, Communications and Public Affairs Division
(Tel: 03 2265 4622; Email: firstname.lastname@example.org)
- Call 1-800-88-1266, 8.30am to 5.30pm on Mondays to Fridays (excluding public holidays)
- Email: email@example.com
- Visit: www.pidm.gov.my