CIRCULAR

CONSTITUTIONS OF MFPC

We are pleased to announce that the Registrar of Society (ROS) has approved the amendments to the Membership Fee Structure in the Constitutions of MFPC as endorsed at the 4^th Annual General Meeting on 22 May 2008. The new membership fees shall be fully in force from the date of ROS approval on 10 October 2008.

Please note the new membership fees for 2009 renewals are as follows:

Yearly Subscription for Class of Membership

ChPO RM 100.00
FSO Member RM 1,000.00
ChFSI RM 1,000.00
FSI Member RM 1,000.00
FSF Member RM 500.00
Ordinary Member RM 200.00
Affiliate RFP RM 100.00
Fellow Member RM 300.00
Student Member RM 80.00
Affiliate Member – Individual RM 100.00
Affiliate Member – Corporate RM 500.00

At the same time, for Members who have paid their membership fees in advance for 2009 and 2010; the National Council has agreed to waive the fee difference in the new and old membership fee structure. This is our small gesture to appreciate your support for early payments of membership fees.

You may refer to Appendix I for the ROS approval on the new membership fee.

We welcome you to visit our website at www.mfpc.org.my for further information.

Should you require further information on the matter, please contact Ms Kogilavany / Ms Sharina at the MFPC Secretariat at 03-26931900.

Thank you.

Yours sincerely,

Kee Wah Soong
President
Dated: 15 October 2008

For immediate release

Local Insurance Industry Remains Resilient

Kuala Lumpur, 22 September 2008, Malaysian Financial Planning Council (MFPC) President, Mr. Kee Wah Soong said that MFPC has received inquiries in relation to recent developments in the global financial market, particularly concerned to AIG, US.

Mr. Kee said that the Malaysian economic structure has evolved and developed for several decades to become a much diversified economy that you see in Malaysia today.

All key sectors have contributed to the growth of the economy. According to Bank Negara Malaysia (BNM)’s 2008 report, the services sector expanded by 7.6%, led by strong growth in the wholesale and retail trade and favourable performance in the communication, transport, finance and insurance industry.

Mr. Kee reassured that MFPC was pleased to inform that AIA Bhd, which is one of their Chartered Financial Services Institutions is licensed with BNM and is subjected to stringent local regulatory and high level capital requirements as prescribed by the Insurance Act and Regulation.

Mr. Kee added, “The regulatory and supervisory framework in our insurance industry ensures that adequate capital is maintained by the insurance company to fulfill its obligations to its policyholders. The separation of assets and structure between the local subsidiary and the parent company ensures that the local company’s operations are not impacted and remain protected from any negative developments in the parent company.

As a locally incorporated company, AIA Bhd’s capital is committed to support their domestic operations. With more than 96% of its total assets invested in Malaysia, we are confident that AIA Bhd will continue to meet their obligations to their policyholders and customers.”

For further information, please contact MFPC Secretariat Office at 03-26931900.

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