KUALA LUMPUR (June 19): The Securities Commission said it has allocated RM30 million from the Capital Market Development Fund for graduate training in the capital market sector over the next three years.
SC chairman Datuk Seri Dr Awang Adek Hussin said that the allocation was part of its Capital Market Graduate Programme (CMGP) to mitigate the talent deficit within and increase graduate employability.
“The CMGP is a collaboration between capital market institutions and Malaysian universities, which prepares graduates for the capital market sector,” he said during the launch of investED in Kuala Lumpur on Monday (June 19).
He noted that one of the challenges of the capital market sector is the lack of skilled labour in critical positions.
“In selected industries, the deficit in skilled labour was approximately less than 30% to 40%, but there are more graduates in search of jobs while there is severe shortage in skilled labour in the market.
“There seemed to be a mismatch in supply and demand,” he noted.
InvestED or NextGen Capital Market Talent is an initiative to enhance the knowledge and employability of 9,000 university graduates in the capital market industry within the next three years.
It is targeting job opportunities for 600 graduates within the same period through job placements and on-the-job training provided by capital market firms under its investED’s Leadership Programme.
The Leadership Programme includes one month comprehensive classroom learning and six months of on-the-job placement at designated companies.
The SC said that selected graduates will receive a RM2,000 allowance during the formal training and a minimum stipend of RM2,400 during the on-the-job placement.
The programme has received over 250 applications, and approximately 100 graduates have been shortlisted for its first cohort to undergo six months of on-the-job placement.