INTERNET INVESTMENT INFORMATION SYSTEM (I3) LAUNCH
18th August 2004
ENHANCING PRODUCTIVITY AND PROFESSIONALISM THROUGH ICT
In line with its objectives to provide information, assistance and other services to its Members; and to promote public awareness of the benefits and risks of investing in unit trusts, the Federation of Malaysian Unit Trust Managers (FMUTM) today launched Phase 1 of its newly developed Internet Investment Information (I³, pronounced as I cube) System.
The launch is timely and underscores FMUTM’s commitment to leverage on ICT (Information and Communications Technology) for greater efficiency and effectiveness in its operations; and to improve information sharing with its Members and the public. The idea behind the on-going I³ System project is the computerisation of the major operations of the Secretariat at the Federation. The I³ System leverages on the web-enabled system that encompasses both a front-end interface and back-end processing. In essence, it is aimed at enhancing productivity and professionalism levels through the progressive harnessing of advances in ICT.
Going forward, given the fast changing financial landscape and increasing investor sophistication, it is paramount that FMUTM is fully prepared and equipped to accommodate the various developments expected of the industry, as well as to respond to the knowledge demands of the investing public. As information is now a critical component of success, FMUTM is leaving no stone unturned in its digitisation drive encompassing all its work processes and communication with all parties. In this respect, the I³ System is anticipated to be a major medium in disseminating realtime information to Members of the Federation and the public at large.
From the outset, FMUTM had identified the working parties for this project, each with their respective scope of responsibility and specific area of expertise. For system development work from the concept to prototype stage and through to the tested end-product, we engaged the services of integrated solution provider, Tri Excel Systems Sdn Bhd (TESS). In the conduct of Computerised Unit Trust Examination (CUTE), an integral part of the I³ System, FMUTM sought the facilities provided by established IT infrastructure host and pioneer ISP, JARING. The common bond in this tripartite working relationship is our shared vision and responsibility of creating value-added innovations that will bring significant benefits to industry, society and the nation.
The I³ System (Phase 1) consists of four distinct modules namely, Membership, Persons Dealing in Unit Trusts (UTCs), Computerised Unit Trust Examination (CUTE) and Public Information (hosted on FMUTM’s website www.fmutm.com.my). The Membership module caters for the management of all FMUTM members, i.e. Ordinary and Associate Members while the UTCs module is designed for the management of all individuals who wish to become UTCs or are registered UTCs. The CUTE module is tailored for the management and delivery of computerised unit trust examination to UTC candidates. As the functions within these three modules are fully integrated, FMUTM’s members are anticipated to benefit substantially from the streamlining cum enhancement of work processes and communication, particularly from the perspective of realtime information updating and sharing as well as the shorter duration for UTC registration given the on-the-spot (immediate) CUTE results.
The Public Information module is readily accessible via FMUTM’s new homepage. Among other useful features, the public can verify the authenticity of UTCs through the UTC Scan Manager; and obtain realtime information (updated from I³ System) on FMUTM’s member companies and their funds as well as the schedule of unit trust examinations, posted on a quarterly basis. These, along with the other investor education material, will go a long way in helping the public gain a measure of comfort, in the knowledge that they are dealing with professionals, helping them to make informed investment decisions.
From a business viewpoint, the I³ System is going to make a major difference in the conduct of FMUTM’s operations, particularly in enhancing the professional standards and image of the unit trust industry. More importantly, it serves as a digital platform to educate and develop awareness of the investing public and to further enhance the prestige of FMUTM’s member companies, both locally and internationally.
For the record, Phase 2 of the I³ System will bring enhancements to Phase 1 modules and complete the system integration with new modules catering for statistics and research requirements (Centralised Depository Data System or CDDS); management of Institutional Unit Trust Agents (IUTAs); and Education and Training.
FMUTM was formally incorporated on 7 August 1993 as a Company Limited By Guarantee but became operational with a full time Secretariat in July 1995. FMUTM provides a common platform for member companies offering unit trust products and services to discuss issues relating to the industry.
Members of the Press requiring assistance may contact Mr. Lee Siew Hoong, Executive Director, at tel no: +(60)3 – 2093 2600 or fax no: +(60)3 – 2093 2700 or e-mail: email@example.com