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INCEIF IQRA’ Fdn

INCEIF IQRA’ Fdn. CORPORATE AWQF. A business-driven institutional strategy for reform. -. -. SEMINAR ON. CORPORATE WAQF. AT JCORP. INCEIF IQRA’ Fdn. CORPORATE AWQF. Waqaf An Nur Corporation Bhd. -. -. SEMINAR ON.

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INCEIF IQRA’ Fdn

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  1. INCEIFIQRA’Fdn CORPORATEAWQF A business-driven institutional strategy for reform • - • - SEMINAR ON CORPORATE WAQF

  2. AT JCORP INCEIFIQRA’Fdn CORPORATEAWQF Waqaf An NurCorporation Bhd • - • - SEMINAR ON Why & how it was establishedbyJCorp CORPORATE WAQF

  3. INCEIFIQRA’Fdn CORPORATEAWQF An evolution after‘Business Jihad’ & ‘Intrapreneurship’ tookrootsatJCorp • - • - SEMINAR ON CORPORATE WAQF

  4. Established in 1970 through a RM10 million loan Today, total market from Johor Government capitalisation of PLC utilised to buy a palm oil/ shares(at Dec 31. 2010): rubber estate in Johor Bahru RM18.1 billion

  5. Alhamdulillah, and 65,000 employees Group-wide • More than 280 companies • 8 PLCs,incKulim Malaysia Bhd, KPJHealthcare, KFC Holdings, NBPOLlisted@PMSX&LondonSX & NewBritainPalmOils,PNG. • Group PBT 2010: RM962 mill • Marketcap31 Dec‘10:RM18.1Bill.

  6. JCorp’s Corp Growth Achieved through market-drivenM&As, organic growth and listings

  7. JCorp’s Corp Growth through9Listed Cos: 1. Acquired’75:Kulim(M)Bhd Through asset injection. ShiftedlistingfrLSXtoBSKL 2. Listed ‘94:KPJ Healthcare (88x Overs) Bhd @ BSKL 3. Listed‘95:Sindora @ BSKL 4. Listed ‘96:Johor Land Bhd Achieved before 1997Crisis

  8. JCorp’s Corp Growth through9Listed Cos: 4. Listed’99:NewBritainPalm Oils Ltd@PortMoresby SX 5. Listed 2001:NBPOL @ London SX (2nd listing) 6. Listed 2006:AL AQAR KPJ REIT@BSKL(ByKPJH) 7 & 8. Acquired 2006-2007: KFC Holdings&QSR Brands 9. Acquired’10: D.RealtyBhd

  9. JOHOR CORPORATION Key Motivational Force: “BUSINESS JIHAD”

  10. BIZ JIHAD MILESTONES • JCorp’s corporate successes called for roleredefinition • JCorp’S failed venture into Unit Trusts Schemes (ASJ/DJ) • JCorp’s discovery of the power of Business Jihad as motivational force & source of ‘spiritual energy’ & drive • JCorp had to respond to the policy threat of Privatisation • Fight for survival(1997Crisis) - forcedRestructure/Renew.

  11. led by JCorp’s teams of Intrapreneurs JOHOR CORPORATION: CORPORATE CONCEPT An entrepreneurial, wealth-generating & sustainable corporate organisation (‘Amanah Entrepreneurs’)

  12. KPJHEALTHCARE BHD Siti Sa’diah Sheikh Bakir SitiSa’diahbte Sheikh Bakir,CEO ector Managing Director 2010 Sales: RM1.66 Bil, PBTRM167Mill JCorp’sIntrapreneur AMANAH Entrepreneur Principal Business: 20 Hospitals in Malaysia(3 in Johor, 3 Federal Territory, 2 Perak, 3 Selangor, 1 Kedah, 1 Pahang, 1 Penang, 1 Kelantan, 2 Sarawak, 1 Negri Sembilan, 2 Sabah Started with 1 Hospital, 6 Specialists at JSH inJohor Bahru in1981 Dec 2010: 22 Hospitals, >700 Specialists. • 2 Hospitals in Jakarta Indonesia • 1 Nursing College(KPJ International); • 1 Waqaf Hospital & 14 WaqafAn-Nur Clinics in 5 States in Malaysia Alhamdulillah, KPJH: MARKET LEADERS IN PRIVATE HEALTHCARE

  13. KPJHEALTHCARE BHD Siti Sa’diah Sheikh Bakir SitiSa’diahbte Sheikh Bakir,CEO ector Managing Director 2010 Sales: RM1.66 Bil, PBTRM167Mill JCorp’sIntrapreneur AMANAH Entrepreneur Principal Business: 20 Hospitals in Malaysia(3 in Johor, 3 Federal Territory, 2 Perak, 3 Selangor, 1 Kedah, 1 Pahang, 1 Penang, 1 Kelantan, 2 Sarawak, 1 Negri Sembilan, 2 Sabah Started with 1 Hospital, 6 Specialists at JSH inJohor Bahru in1981 Dec 2010: 22 Hospitals, >700 Specialists. 1,200 Nov‘11 Market Cap growth of 335% • 2 Hospitals in Jakarta Indonesia • 1 Nursing College(KPJ International); • 1 Waqaf Hospital & 14 WaqafAn-Nur Clinics in 5 States in Malaysia 276m Nov 94 (19.7% p.a.!) Alhamdulillah, KPJH: MARKET LEADERS IN PRIVATE HEALTHCARE

  14. JOHOR CORPORATION Not a conventional wealth- creating corporate machine A GLC corporate institution creatingopportunitiesforall to become entrepreneurs

  15. Alhamdulillah, and 65,000 employees Group-wide • More than 280 companies • 8 PLCs,incKulim Malaysia Bhd, KPJHealthcare, KFC Holdings, NBPOLlisted@PMSX&LondonSX & NewBritainPalmOils,PNG. More than 300 JCorp Group Intrapreneurs • Group PBT 2010: RM962 mill • Marketcap31 Dec‘10:RM18.1Bill.

  16. Johor Corporation SINDORA BERHAD: INTRAPRENEUR VENTURE Growing SMEs into future MNCs JCorp Group’s Corporate resources used to support SME Growth & Expansion

  17. MT NAUTICA MERSING Intrapreneur M.D.Datuk Abd Hak M Amin MT NAUTICA PONTIAN MT NAUTICA KLUANG MT NAUTICA SEGAMAT MV TG PUTERI 1 MV TG PUTERI 2 SHIPPING: EATechnique (M) SdnBhd

  18. 2006 Pre-Sindora 2007 Post-Sindora Sales (RM mill) 45.0 PAT (RM mill) Before joining Sindora (JCorp) 10.3 EA Technique (M) SdnBhd After joining Sindora Berhad NAUTICA MUAR 63.3 17.5 Sales 2011: >RM200m

  19. EA Technique (M) SdnBhd LAUNCH OF NT NAUTICA BATU PAHAT DONG FANG SHIPYARD, NINGBO, CHINA, 1. 12. 09

  20. AcquisitionofORKIMMALAYSIASdnBhd

  21. 2006 Pre-Sindora 2007 Post-Sindora Sales (RM mill) 45.0 PAT (RM mill) 10.3 EA Technique (M) SdnBhd NAUTICA MUAR 63.3 17.5 LISTING 2012 Sales 2011: >RM200m

  22. JOHOR CORPORATION Not a conventional wealth- creating corporate machine A GLC corporate institution aspiring to prosper Malaysia through Islamic Biz practice

  23. JOHOR CORPORATION Key Islamic Biz practices 1. “Biz Jihad” ideology 2. JCorp’sIntrapreneurs 3. The Corporate Waqf

  24. Why INTRAPRENEURS, and BUSINESS JIHAD? WhyINTRAPRENEURS, notENTREPRENEURS? (Think ‘out of the Box’!) To suit the ‘Islamic Box’

  25. Al Qur’an Al-Hashr, 59: -7-. ( What Allah gave as booty ( Fai’) to His Messenger from the people of the townships – it is for Allah, his Mes- senger, the kindred, the orphans, Al masakin (the poor) & the wayfarer,) ‘ in order that it may notbecome a fortune usedby the rich among you. ’

  26. WhyINTRAPRENEURS, not ENTREPRENEURS? (Think ‘out of the Box’!) • To avoid privatisation • To counter attrition of Muslim-owned equity • To enable the setting up of Corporate Waqf • Pro Maqasid al Syariah To suit the ‘Islamic Box’

  27. LANDMARKS CORPORATE AWQF

  28. “CORPORATE AWQF” JCorp endowed RM 200 million PLC shares (@ NAV) 3rd August, 2006

  29. “ A study of Johor Corporation’s EQUITY vs CORP. WAQF Corporate Waqf strategy.” University of Oxford, December, 2010. Conventional Waqf: - May involve cash Waqf, shares and equity Corporate Waqf: - Involves an institutional entity - that is, a Waqf Corporation, which gives it both a Waqf & Mutawalli status, thus acting as Trustee & asset manager, & recognised as such by relevant religious authority.

  30. Market capitalisation at date of endowment: RM90.05 million • Market capitalisation at 31 December, 2010: RM246.55 mill. +173.8%!

  31. Net Asset Value at endowment date: RM250 million TOTAL ASSET VALUE: (At 31 December, 2010) RM430.4mill

  32. Institutional implications CONCLUSION CORPORATE AWQF

  33. “ A study of Johor Corporation’s Corporate Waqf strategy.” University of Oxford, December, 2010. ” ... Business Jihad, Corporate Waqf and intrapreneurship have been highly effective & have far exceeded what would have been likely achievable through using conventional development economic tools and known policy-driven methods.”

  34. CORPORATE AWQF • Corporate capacity building using Islamic motivational force & spiritual energy for business-driven success; • A “Mother Corporation” for entrepreneur development, management talent and human capital development; • Wealth-creating institution to reduce economic divides & bridge social disparities;

  35. CORPORATE AWQF • A “Mother Corporation” spawning new enterprises, creating biz opportunities for marginalised groups; • Over the long run, through critical mass, an institution that will renew economic system, shifting it from one that is ‘shareholder-centric’ to a ‘community-centric’ and more equitable system.

  36. a Malaysian National Waqf Corporation RECOMMENDATION Establish

  37. 2. Upgrade/enhance Waqaf An Nur Corporation Bhd 1. Set up new WCorp RECOMMENDATION Options: e.g.Iqra Foundation

  38. THE UMMAH, PUBLIC & COS GOVERNMENT& GLCS MALAY RULERS Endow Cash & PLC Shares Endow cash & Members’ Fees RM200 mill RM400 mill RM200 mill JOHOR CORP RM430.4 mill Restructure WANCorp BOD 200.000 New Members TARGET RM1.2billion PRIORITY: 25% KPJHB CORPORATE WAQF (Shares) NATIONAL CORPORATE WAQF STRUCTURE

  39. Terima THANK KASIH YOU www.businessjihad.com

  40. INCEIFIQRA’Fdn CORPORATEWAQF CONCEPT, PRACTICE,-- • - • - & FUTURE ROLE DIALOGUE ON CORPORATE WAQF

  41. INTRODUCTORY STATEMENTS: 1. “Occupy Wall St.” Business ways need reform: Reinvent Corporations

  42. toCommunity-centric INTRODUCTORY STATEMENTS: 1. “Occupy Wall St.” Corporate reform redesign • Corporate Waqf 2. Counter PvtSector Shift system away from Shareholder-centric

  43. 5.Economic Reform INTRODUCTORY STATEMENTS: 1. “Occupy Wall St.” Corporate reform redesign • Corporate Waqf 2. Counter PvtSector 3. PriorityafterIB&F 4. Awqf-led System

  44. ENDORSEMENTS CORPORATE AWQF • National Islamic Ec. Congress(KEI3,Jan.2009) • WANCorp-MAIJ MOA • Oxford Univ. Study on WANCorp(Dec.2010)

  45. “ A study of Johor Corporation’s Corporate Waqf strategy.” University of Oxford, December, 2010. “ ... there is a revival in interest in Waqf... Malaysia... is leading the way in terms of its innovative approach to Waqf.” “...Corporate Waqf seems to be emerging as both an innovative and effective mechanism for the functional, practical delivery of benefits in line with the principles of Waqf.”

  46. “ A study of Johor Corporation’s Corporate Waqf strategy.” University of Oxford, December, 2010. “Malaysia is proving to be a standard --bearer when it comes to Islamic finance “Malaysia is proving to be a standard bearer and Islamic business model development and enactment and mandates levels of flexibility which couldfacilitaterapidwaqfdevelopment. Corporate Waqf at JCorp was found to be a commendable, functional model which requires broader support, particularly from federal and regional governments,if it is to be sustainable.”

  47. ENDORSEMENTS CORPORATE AWQF • National Islamic Ec. Congress(KEI3,Jan.2009) • WANCorp-MAIJ MOA • Oxford Study (Dec.2010) • NationalSICCongress (State Islamic Councils - Sept.2011)

  48. Corp Waqf mission: 2. Making a success of 1. Economic empower- Fi Sabilillah programs ment of the ummah through biz-driven & corporate methods

  49. Econ. Empowerment & Poverty Eradication • WCorpasCorporate Wealth- creator in Trust for Ummah • A Waqf Venture Cap Agency • As ‘Corporate Umbrella’ for SME Growth & Expansion • Prospective “Bottom-of-the- Pyramid” Biz Devt Partner.

  50. FI SABILILLAH PROGRAMS • Strengthening Institutions • Healthcare for the Poor • Humanitarian Aid Program • Better Access to Business through Waqf Micro-credit

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