Understanding the World Around Us


Nurul Azlyna Rasidi is my regular guest writer. She is a young lady with a passion for research and writing. She writes in-depth articles on current affairs.

I enjoy her contributions which give insights of selected topics.

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By Nurul Azlyna Mohamad Rasidi (CIFP, Bach.of Acc (Hons), CMI)

Explore, Experience and Enjoy.


Millions of people travel across the world every year and thus, making the tourism industry as a key role in the global economy.  According to World Travel and Tourism Council (WTTC), the industry accounted for 10.4% of global GDP and 319 million jobs, or 10% of total employment in 2018.

Travellers travel with different purposes where some people travel for leisure or business while some travel due to specific interest such as medical or religion.

Given the different purposes, tourism industry has been classified into various types to cater to the needs and preferences of all types of tourists. The following are the categories of tourism:


Under this purpose, travellers simply want to enjoy new experience of a destination and devoting their holiday to rest and relaxation. These tourists prefer to stay in some quiet and relaxed destination preferably at a hill resort, beach resort or island resort.


The travellers’ main motive for travel is for work purpose such as attending a business meeting, conferences, conventions selling products, meeting clients. Business tourism is popularly known as MICE (Meetings, incentives, conferences, and exhibitions) tourism.

Special Interest

Interestingly, some people travel for special reasons such as religions, medical, education, hobbies and cultural. Under medical tourism for example, travellers go to places such as recommended specialist centre seeking for medical treatment.

Meanwhile, the adventurous groups usually travel to spots that are popular for adventure activities such as bungee jumping or whale-watch. Going to undiscovered or non-commercialized destinations for more exquisite, thrilling and adrenaline-rush experiences is another choice to consider. This paper however focuses on adventure tourism, specifically in Selangor, Malaysia. It presents vacation spots in the states with various activities under the adventure tourism category. The objective of the paper is also to identify potential of activities that the state government and private entities may yet to discover.

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By Nurul Azlyna Mohamad Rasidi (CIFP, Bach.of Acc (Hons), CMI)

A long-awaited National Automotive Policy (NAP) 2020 was recently launched by Prime Minister, Tun Dr Mahathir. An enhancement and continuation of NAP 2014, the policy is expected to bring Malaysia’s automotive industry to the next phase of industrial competitiveness with the ultimate objective of making the country a regional leader in manufacturing, engineering and technology as well as to ensure sustainable development of the local automotive industry.

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4Q19 GDP.

By Nurul Azlyna Mohd Rasidi (CIFP,Bach. Of Acc (Hons), CMI)

Nurul Azlyna Mohamad Rasidi (CIFP, Bach. of Acc (Hons), CII), my guest writer, talks about 4Q19 GDP and notes that it is the lowest in the decade.

Malaysia’s economy grew 3.6% in the last quarter of 2019 (4Q19) in the recent announcement by Bank Negara Malaysia (BNM), making it the lowest quarter result since 3Q09.

The weak quarter performance has dragged the overall Gross Domestic Products (GDP) for the year to 4.3% compared to 4.7% in 2018. The annual growth is far below the government’s projection of 4.7% for 2019. It is also at the lowest end of BNM’s forecast of 4.3% – 4.8%.

The underperformed growth was affected by lower output of palm oil, crude oil and natural gas, and a fall in exports amid the US-China trade war.

Oil palm production contracted due to the severe dry weather conditions and fertiliser cutbacks in early 2019 while natural gas production declined following temporary facility closures.

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By Nurul Azlyna Mohd Rasidi (CIFP,Bach. Of Acc (Hons), CMI)


The rapid growth of e-commerce and online shopping has prompted a hassle-free system that allows users to opt for digital transactions. Undoubtedly, digital transactions are getting popular and today, almost all goods and services can be paid easily through any kind of digital transactions such as e-wallet. E-wallets are the next evolution in payment systems

A report from Market Research Future noted that global e-wallet market has estimated a growth rate of 15% by the end of 2023. It is expected to reach a revenue mark of USD 2,100 billion through the review period of 2016-2023.

According to Investopedia, E-wallet or also known as digital wallet is defined as a system that securely stores users’ payment information and passwords. Thus, it eliminates the need to enter bank or card details every time a transaction is takes place. It serves a function much like a physical wallet.

Many e-wallet services such as Paytm, and Freecharge are operating in the form of mobile payment. E-wallet can also be used to store loyalty card information and digital coupons.

An E-wallet needs to be linked with the individual’s bank account and requires the users to load money into the e-wallet app before making purchases. The amount will be automatically deducted from their e-money balance when the users pay the goods and services. E-money is the digital number inside an e-wallet, representing the real-physical coins and notes.

Reiterating the potential of e-wallet, a study conducted by the European Central Bank in 2012 shows that countries with high usage of e-payments as compared to cash and cheques incurred a lower retail payment cost of as low as 0.42% of GDP, while countries with low usage of e-payments as compared to cash and cheques incurred a higher retail payment cost of as high as 1.35% of GDP.

Thereby, this paper is intended to present the insights on e-wallet industry in Malaysia. It also aims to highlight the development in the industry and to gauge potentials available in the market.

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By Nurul Azlyna Mohamad Rasidi CIFP, Bach. of Acc (Hons), CII


Takaful industry in Malaysia has positioned itself as a trusted and valued solution provider for many years. The industry has recorded strong growth with almost 18% of market share in 2018 from 3% a decade ago. With 15 registered operators, Malaysia currently leads the takaful industry in the region.

Similar to insurance, there are general and family takaful that essentially serve the same purpose of providing coverage to the participants. This paper however will only highlight the family takaful in Malaysia. 

Offering three types of plans to choose from, family takaful provides financial protection against death or permanent disability and long-term savings to the participants. The plans are;

  1. Ordinary Family
  2. Annuity
  3. Investment-linked Takaful

Interestingly, the industry’s performance is considerably outstanding with a new business grew approximately 10% (year-on-year) in 2018 compared to approximately only 2% for life insurance. 


As the takaful industry matures, digitisation and technology adaptation is expected to change the market landscape. Technology is also expected to pave significant inroads in providing new solutions and avenues in reaching the consumers.

As stated in KPMG’s Insurtech 10: Trends for 2019: “Mature insurance markets may see the new highly automated insurance platforms such as those developed in China as a direct challenge and seek to compete with them. The successful incumbents will likely be the ones who learn from them, adapting and adopting their tech where appropriate”.

Meanwhile according to EY, “more than 80% of customers are willing to use digital and remote contact channels (including web chat, email, mobile apps, video or phone) in place of interacting with insurers via agents or brokers”.

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