23 November 2016
US$38,000 in cash prizes attract 3,489 teams from five ASEAN countries
Kuala Lumpur: CIMB Group (“CIMB” or “the Group”) has announced the five National Champions of the CIMB ASEAN Stock Challenge (“the Challenge”). The National Champions will meet at the Grand Finale in Singapore in January 2017 to contest the Regional Champion title and a total of US$38,000 in cash prizes.
The regional stock trading competition is open to undergraduates in Malaysia, Indonesia, Singapore, Thailand and Cambodia, where trading uses virtual cash in real-time on the five major stock exchanges of the region: Bursa Malaysia, Indonesia Stock Exchange (SET), Singapore Exchange (SGX), Stock Exchange of Thailand (SET) and Hong Kong Stock Exchange (HKEx). This is the seventh edition of the Challenge since its inception in 2010.
The winners were selected following a three-week contest period where three top teams were chosen at country level based on the highest percentage gains. These top three teams (national winners) then submitted strategy papers and the team with the best strategy was selected as the National Champion. Therefore, the National Champion for each country is not necessarily the team with the highest returns, which underscores the Challenge’s focus on long-term strategy versus short-term gains.
The top three teams received US$800, US$500 and US$400 respectively. All the participants of the winning teams would also be considered for an internship with the CIMB Group.
Team “Raymond Stanley Investment Fund” was announced as the National Champion for Malaysia at a prize-giving ceremony in Kuala Lumpur on 22 November 2016.
The complete list of National Champions across the region is as follows:
- Malaysia – Team “Raymond Stanley Investment Fund” from Taylor’s University
- Indonesia – Team “Baktiinvesta” from Universitas Islam Indonesia
- Singapore – Team “Fujok” from National University of Singapore
- Thailand – Team “GNL” from Assumption University
- Cambodia – Team “The Visionary” from American University of Phnom Penh
Dato’ Hamidah Naziadin, Group Chief People Officer, CIMB Group said, “The increasing number of participating teams in the CIMB ASEAN Stock Challenge 2016 demonstrates strong support for CIMB’s continued efforts at promoting better understanding in stock analysis and trading amongst university students across ASEAN. The number of Registered Teams increased by 43% from 2,444 in 2015 to 3,489 in 2016, while the number of universities participating in the competition increased by 18% from 188 in 2015 to 222 in 2016. This is highly encouraging to us as we continually strive to promote and develop talent in university students within the region.”
“The Challenge is continuously evolving, and this time the bar will be raised even higher by having each National Champion’s portfolio reviewed prior to the Grand Finale, and having the teams make an ‘on-the-spot’ investment decision from five stocks based on historical data. This will stretch their analytical skills based on technical and fundamental parameters, which cultivates a long-term mindset in investing as opposed to trading for short-term gain,” added Dato’ Hamidah.
The finalist teams will also be required to present their respective trading strategies to a panel of judges at the Grand Finale, underscoring the competition’s emphasis of strategic planning, adopting a long-term view and execution. Apart from the US$12,000 Grand Prize, the Regional Champion will also win a study tour of the Hong Kong Stock Exchange. The Regional Runners-Up will receive cash prizes of US$8,000, US$5,000, US$3,000 and US$1,500 respectively. The winning regional teams will be announced during the Grand Finale in January 2017.
The CIMB ASEAN Stock Challenge partners include:
- The Ministry of Higher Education, Malaysia, whose support is significant in fortifying academia-industry collaboration in youth development efforts.
- Malaysia Airlines, who is Presenting Sponsor for the second consecutive year, and who will sponsor the ASEAN delegates’ tickets to the Grand Finale in Singapore.
- TalentCorp Malaysia, the competition’s graduate partner for the fourth consecutive year, and whose role is to enhance graduate employability and promote talent diversity.
- The regional exchanges of Bursa Malaysia, Indonesia Stock Exchange (SET), Singapore Exchange (SGX), Stock Exchange of Thailand (SET) and Hong Kong Stock Exchange (HKEx).
More information about the CIMB ASEAN Stock Challenge 2016 can be found at https://stockchallenge.itradecimb.com/