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Preventive measures to mitigate the risk of fraud in letters of credit transactions in Malaysia
No full textThis article attempts to analyse the issue of fraud in Letters of Credit
(LC) transactions, also known as documentary credits. There are
numerous reported cases of fraud in LC transactions, which remain
a continuing risk. The UCP 600 is a popular standard of practice for
banks, which confirms that banks must honour payment to the seller
upon full compliance with the documentary credit requirements.
Such payments have been made despite being presented with falsified
documents or substandard goods being delivered. It might not be
realistic to expect that the International Chamber of Commerce (ICC)
can create global standards relating documentary credits, which
cover the practicalities of the existing system and relevant legalities
applicable to the letter of credit system in international trading. Each
party involved may have a responsibility to take some preventive
measures to mitigate the risk of fraud. The doctrinal method is used to conduct this study because it involves an in-depth analysis of the gap
within the Malaysian system and the strategies that may be adopted
to overcome the risks associated with LC fraud. Findings reveal that
LC documents can be easily falsified, and the occurrence of LC fraud
is not uncommon in Malaysia. However, given the lack of literature it
has not been highlighted previously. The primary focus of this article
is to suggest preventive measures that the respective parties could
take to protect themselves from fraudulent dealings involving LCs
Power distance as a moderator in the relationship between organisational justice and job satisfaction
No full textThe influence of asymmetric information on foreign capital inflows in ASEAN plus three countries
No full textThis paper examines the influence of asymmetric information on foreign capital inflows in ASEAN PLUS THREE (ASEAN+3) countries. Linking capital flows to stock market setting, it substantiates other efforts concerning the debatable issues of the effect of asymmetric information on foreign direct investment (FDI) and foreign portfolio investment (FPI). The asymmetric information is captured through the stock market microstructure perspective on the width and depth dimensions using highly frequency cross sectional data from year 2000 to 2015. Roll and Amivest models are employed to quantify the width and depth aspects of the asymmetric information. Employing the panel data technique, the results demonstrate the significant effect of market transparency on foreign capital inflows specifically the FDI as compared to the FPI. An increase in the width and depth analysis based on the Amivest model signifies a high informational transparency, thus shows a lower asymmetric information which consequently leads to the high foreign capital inflows. The results of the study provide information to the policymakers in monitoring capital inflows on the aspect of market transparency and highlight the importance of the stock market microstructure in assessing the asymmetric information for ASEAN+3 countries
Tahap pengetahuan teknologi, kemahiran dan penggunaan tmk dalam pengajaran dan pemudahcaraan komsas guru Bahasa Melayu di Kelantan
No full textIslamic law and Indonesianness: critical study of graduations dissertations of doctorate program of islamic law islamic University of Indonesia Yogyakarta
No full textFamily-friendly policy and work-family conflict mitigation: The role of work-family boundary negotiation
No full textContinuity of great sumatran fault in the marine area revealed by 3D inversion of gravity data
No full textAurora: the pandemic within
No full textAurora Layar Group (Aurora) had been experiencing losses for three consecutive years since 2017. Among factors contributing to these losses were high depreciation due to high capital expenditure and recognition of impairment losses. However, Aurora managed to reduce its losses from RM252 billion in 2017 to RM79.5 billion in 2019. Unfortunately, the Covid-19 pandemic had hammered many industries worldwide including Aurora, in the travel, leisure and hospitality sector. The implication from the restrictions on business operations due to the Covid-19 pandemic on Aurora was evidenced by its reported losses of RM371.3 billion in the first six months to June 2020 during which most of its cruise operations suspended since the start of the Covid-19 pandemic. The reported losses were extremely higher compared to the first six months to June 2019 of RM28.3 billion. While many cruise companies globally fighting for
survival, the Deputy CEO of Aurora, Miss Salina Hasan, tendered her resignation. In May 2020, the Chairman and CEO, Tan Sri Salmah Ali, had pledged 60 per cent of her shares in the company as collateral for loans. The decision was made a day after Aurora decided to suspend all payments to creditors