The programme aims to improve the knowledge and employability of 9,000 public and private university graduates, particularly in the capital market industry, over three years.
“While there are plenty of graduates looking for employment, at the same time, there’s also a shortage of skilled workers on the market, as if there’s a supply and demand mismatch.
“As such, we hope CMGP can also act as a matchmaker between graduates and the capital market,” said SC chairman Datuk Seri Dr Awang Hussin.
CMGP is also funded through an allocation of RM30 million by the Capital Market Development Fund (CMDF), a fund managed by the capital market industry.
It’s spearheaded by the SC in collaboration with MoHE, the Ministry of Finance, Bursa Malaysia and senior representatives of the capital market industry.
“The objective of the programme isn’t only to produce human capital, but also talent.
“We want also to make sure they not only get employment but also a high salary,” said Higher Education minister Datuk Seri Mohamed Khaled Nordin.
He said the programme could even replace internships, with at least a RM3,000 salary for the final three months of the students’ degree.
Khaled reiterated that through this programme, the talents produced would help the industry grow, as the graduates will be armed with knowledge and skills when they enter the industry.
The programme, which is expected to address the shortage of skilled manpower in the capital market, will help produce graduates who are more prepared to be employed in the capital market.
This will reduce the deficit of skilled talent in the capital market and simultaneously improve graduate employability.
The MoU outlines some scopes of cooperation, including increasing awareness among graduates of the multi-disciplinary career opportunities in the Malaysian capital market industry, building basic capacity among graduates in fields related to the Malaysian capital market.
It also aims to promote CMGP through lectures and career fairs to create a steady stream of graduate talent for the Malaysian capital market.
In addition, there will also be a collaboration with senior representatives of Bursa Malaysia and the capital market industry as well as vice-chancellors from major local universities, and identifying qualified graduates to participate in structured programmes managed by the Securities Industry Development Corporation (SIDC) and the CMGP Leadership Development and Job Placement Programme.