SCLE Revision: Investment Management & Corporate Finance (Module 12)

Laws & Regulations

07
Nov 2020

9:00 am - 6:00 pm

SIDC LMS

Speakers : Thomas Chan

MYR 1250 *Fee is not inclusive of 6% SST

Module 12: Investment Management And Corporate Finance

Programme Objective

This course equips participants with comprehensive understanding and knowledge based on the Module 12 Study Outline. Participants will advance their knowledge and comprehension further via an interactive teaching and learning experience while increasing their confidence in sitting for the examination.  This course will be facilitated by an experienced and qualified trainer.

Programme Overview

This 2-day course is designed to match the licensing study outline for Module 12 on investment management and corporate finance. It covers the fundamental aspects of investment, economic and market value added, financial statement analysis, valuations, derivatives and corporate exercises.

Who Should Attend

  • Candidates preparing for the Module 12 licensing examination
  • New entrants to the capital market industry and staff of investment banks

Learning Outcomes

Candidates are expected to have good knowledge, understanding and ability to apply in the following areas:

  1. Investment environment of the Malaysian capital market
  2. Economic fundamentals
  3. Inter-relationship between corporate finance, investment and strategic management
  4. Concept of shareholder value and its determinants
  5. Techniques of financial statement analysis and use of various ratios to gain insights into a company’s performance measure
  6. Methods of computing economic value added and market value added
  7. Concept of time value of money and opportunity cost of capital
  8. Capital budgeting techniques used in making project decisions
  9. Relationship between risks and returns and how they are measured
  10. Levels and implications of market efficiency on technical and fundamental analysis and portfolio management
  11. Basic portfolio theory
  12. Process of portfolio management and evaluation of its performance
  13. Common forms of financing and factors to consider in determining the optimal capital structure
  14. Financing decisions which covers debt financing, equity financing and dividend policy
  15. Definitions of value and role of valuation
  16. Valuation methodologies and their limitations
  17. Various forms of derivatives used to hedge financial risks arising from the financing and investment decisions of a company
  18. Interaction of financing and investment decisions in corporate restructuring, mergers and acquisitions

Candidates’ Prerequisites

It is estimated that this module will require a minimum of 120 hours of study time. Candidates are expected to have relatively strong capability in the application and analysis of information provided in this outline and its reference. The amount of study hours needed depends on the education background and work experience of the candidates. Candidates are also expected to update themselves with the latest changes relevant to this module as all questions will be continuously updated to reflect these changes.

Methodology

This course will be delivered using effective learning methods which include presentations, discussions and review examination questions.

PROGRAMME – DAY ONE 

9.00 am Overview of the Investment Environment

  • Development of the Capital Market and its Technology
  • The Malaysian Markets
  • Growth of Capital Market Products and Services in Malaysia
  • Regulatory Framework of the Malaysian Capital Market

Fundamentals of Economics

  • Economic Fundamentals
  • The Real Economy
  • The Public Sector
  • Monetary Policy
  • The International Sector
  • International Economics
  • Economic Analysis and Investment Strategy
  • Economic Indicators – Usefulness and Practicality for Market Participants
10.45 am Break
11.00 am Strategic Management

  • Overview of Strategic Management
  • Linking Corporate Finance with Strategic Management
  • Shareholder Value

Financial Statement Analysis and Performance Measurement

  • The Importance of Financial Statement Analysis
  • Financial Statement Analysis
  • Economic Value Added
  • Market Value Added

Risks and Returns

  • Present Value and Opportunity Cost of Capital
  • Capital Budgeting
  • Measurement of Risk
  • Measurement of Investment Returns
1.00 pm Lunch Break
2.00 pm Portfolio Theory

  • Risk Aversion and Utility
  • Markowitz Portfolio Theory
  • Capital Asset Pricing Model
  • Arbitrage Pricing Theory

Portfolio Management

  • Market Efficiency
  • Security Analysis
  • An Introduction to Portfolio Management
  • Evaluation of Investment Performance
4.00 pm Break
4.30 pm Portfolio Management

  • Market Efficiency
  • Security Analysis
  • An Introduction to Portfolio Management
  • Evaluation of Investment Performance

Financing Decisions

  • The Financing Decision
  • Capital Structure
  • Financial Decisions in a Perfect Market
  • The Stakeholder Theory

Debt Financing

  • Key Categories of Debt Financing Services
  • Valuation of Bonds
  • Price Volatility
  • Convertible Bonds
6.00 pm End of Day One

PROGRAMME – DAY TWO

9.00 am Equity Financing

  • Types of Equity Financing
  • Valuation of Equity
  • Effects on Corporate Exercises

Dividend Policy

  • Definition of Dividend Policy
  • Dividend Theories
  • Dividend Policy Issues
  • The Dividend Policy
  • Other Forms of Dividend
10.45 am Break
11.00 am Valuation

  • The Role of Valuation
  • What is Value?
  • Valuation Models, Approaches and Applications
  • Discounted Cash Flow Valuation
  • Dividend Discount Model
  • Relative Valuation
  • Asset-based Valuations
  • Discounts, Premiums and other Considerations
  • Alternative Valuation Models

Options

  • Definition and Concept of Options
  • Trading of Options
  • Option Payoffs
  • Option Strategies
  • Option Valuation
  • Options in Portfolio Management

 Swaps and Interest Rate Options

  • Definition and Concept of Swaps
  • Types of Swaps
  • Other Options on Debt Instruments and Interest Rates
1.00 pm Lunch Break
2.00 pm Futures

  • Definition and Concept of Futures
  • The Futures Market
  • Futures Pricing Review
  • Commodity Futures
  • Equity Futures
  • Interest Rate Futures
  • Bond Futures

 Structured Products

  • What is a Structured Product?
  • Issuers of Structure Products in Malaysia
  • Uses and Benefits of Using Structured Products
  • Components of a Structured Product
  • Features and Payout Structures of Structured Products
  • Risks of Investing in Structured Products
4.00 pm Break
4.30 pm Corporate Restructuring and Mergers and Acquisitions

  • Types of Corporate Restructuring Exercises
  • Mergers and Acquisitions
  • Divestitures
  • Leveraged Buyout
  • Capital Reduction and Consolidation
  • Recapitalisation
  • Liquidation and Winding-up
  • Schemes of Arrangement and Reconstruction
  • Motives and Determinants
  • Regulatory Framework
  • International Mergers and Acquisitions
6.00 pm End of Day Two

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