A memorandum of understanding (MoU) signing ceremony was held between UTAR and Prudential Assurance Malaysia Berhad (PAMB) on 4 July 2024 at Menara Prudential, Tun Razak Exchange, Kuala Lumpur. The MoU aimed to foster and facilitate joint collaborations on knowledge exchange and networking among industry practitioners and UTAR.

The partnership between UTAR and PAMB also aimed to provide professional growth, access to resources and industry support to future UTAR graduates in business and financial studies to kick-start their careers.

The signatories were UTAR President Ir Prof Dato’ Dr Ewe Hong Tat and PAMB Chief Executive Officer Mr Lim Eng Seong. Witnessing the signing were UTAR Vice President for Internationalisation and Academic Development Ir Prof Dr Goi Bok Min and PAMB Chief Agency Officer Ms Yong Lai Yin.

Also present at the ceremony were 36 undergraduate students and two international postgraduate students from UTAR Kampar Campus, along with ten representatives from Prusoldier Partner Solution (PSR), Ipoh. They were accompanied by eight academics from the Faculty of Business and Finance, namely Assoc Prof Dr Au Yong Hui Nee, Prof Dr Eng Yoke Kee, Dr Kuah Yoke Chin, Dr Wei Chooi Yi, Dr Tan Ai Lian, Mr Chong Tun Pin, Ms Chia Mei Si and Ms Chin Lai Kwan.

The ceremony started with PAMB CEO Mr Lim delivering the welcome speech. He remarked, “This year marked our 100th anniversary in Malaysia, so we should look towards the future to inspire the next generation as they enter the workforce. This MoU with UTAR signifies our shared commitment to empowering students with the tools to step into the world and start building their careers confidently.”

Prof Dato’ Ewe emphasised, “The collaboration between industry and academia brings great significance. The symbiotic relationship between the academician providing expertise, research capabilities, and a talent pool, and the industry offering practical insights, challenges, and opportunities for application are not to be taken lightly. Together, a multifaceted ecosystem that fosters innovation, addresses societal needs, and drives economic progress can be in place.”

It was also an insightful field trip for the UTAR undergraduate students and the faculty members as they were escorted for a site visit to the PAMB offices in Menara Prudential. The undergraduate students and faculty members were enlightened by the seamless integration of digitalisation and contactless approaches aimed at enhancing overall productivity adopted by PAMB.

In addition, there were knowledge transfer sessions by Mr Wong Kar Khan, Regional Development Manager on leadership building programmes offered by PAMB and by Mr Eddy Yew, Corporate Responsibility Manager on financial literacy enhancement among young adults, aiding them in understanding financial management and planning.

In a nutshell, the field trip provided an invaluable experience to UTAR students, with the opportunity to interact with industry practitioners and gain deeper insights into the insurance sector’s operational and potential career paths.