Kuala Lumpur trip helps students relate theory to real industry practice

Miri – 2 November 2011 – A recent 3-day, 2-night field trip to Kuala Lumpur to visit financial institutions there proved a most fulfilling learning experience for 17 banking and finance students from Curtin University, Sarawak Malaysia (Curtin Sarawak).

Their visits to leading financial institutions such as Bursa Malaysia, Financial Sector Talent Enrichment Programme (FSTEP), Malaysia Building Society Bhd. and the Inland Revenue Board of Malaysia gave the students a first-hand look into the activities of the financial institutions and helped them relate theories they have learned in the classroom to real industry situations.

As part of the learning experience, the students were required to preview the institutions’ websites and review links up to at least three levels before planning step-by-step tasks for themselves to accomplish during their visits to the institutions, as well as conduct reviews following each visit.

At Bursa Malaysia, a staff member briefed the students on the stock exchange’s milestones since its inception in 1964, including the splitting of the Malaysian and Singaporean stock exchanges in 1973 following the expulsion of Singapore from the Malaysian Federation, implementation of the Nasdaq filtering system in 2002, and Bursa Malaysia’s 2009 partnership with ACE Malaysia.

He also briefed them on the role of Bursa Malaysia in raising capital, establishing regulations and monitoring the marketplace, in addition to giving them an insight into the derivatives market and buying shares. The visit ended with a tour of the Bursa Malaysia building.

At the offices of the FSTEP, the students learned about the functions of the organisation, which trains and grooms fresh graduates for employment in the finance sector. They were given a short talk on career paths for banking students and a tour of FSTEP’s premises.

At Malaysia Building Society Bhd. (MBSB), which promotes home ownership in Malaysia, meanwhile, the students were enlightened on MBSB’s history, how the organisation operates within the financial market, as well as the services it offers to the private and corporate sectors.

On hand to receive the students at the Inland Revenue Board were staff of the Malaysian Tax Academy and the Assistant Director of the International Training and Tax Education Centre. The Assistant Director later gave the students a briefing on the different types of taxes and the purpose of collecting those taxes.

According to Finance and Banking lecturer Charmele Ayadurai, field trips are important not only for students to better prepare themselves for careers in a competitive business environment but also for their lecturers in employing field method learning and teaching. She said fieldwork generally involves observing, describing and mapping the relationship between theoretical frameworks and industry exposure.

“Field trips have traditionally formed an important part of Bachelor’s degree curricula. Lecturers have to provide students with the opportunities to get enough field experience from the real world. As a lecturer, I see the need to select trips which have clear connections to the content presented in class,” said Charmele.

Charmele remarked that students appreciate field trips because they can acquire unique experiences, knowledge and skills on the trips. These are powerful tools for reforming banking unit teaching in universities, she added.

Student Dennie Katuna said she enjoyed the visit and that it inspired everyone to perform well in their studies. She is also proud that the students were praised on their knowledge and grasp of the subject matter by those at the places they visited.

Another student, Hariz Mohammad, commented that the trip to FSTEP widened his understanding of the importance of having soft skills in the workplace while his friends Marvin Chema and Gowthaman Kumar found the experience both fulfilling and fun.

For more information on Curtin Sarawak, visit its website at www.curtin.edu.my or e-mail enquiries@curtin.edu.my.

The students posing for a group photo with a representative from Bursa Malaysia.

Curtin Sarawak School of Business students with an Inland Revenue Board staff.