SYNERGIZING CASH WAQF INTO PROPERTY – THE CASE OF HOUSING INAFFORDABILITY IN ISKANDAR MALAYSIA

At the early 15th Century, the Ottoman Empire used to incorporate cash waqf into property investment and development. Using the cash waqf as an instrument, they have successfully been able to develop property waqf distinguishably. Similar development has been sighted in the Islamic world years later especially in Egypt, Kuwait and Indonesia. In Malaysia, since the inception of the fatwa on the applicability of cash waqf in 2007, many have been promoting and capitalising the availability of cash waqf into property albeit risky investment. This paper sought to examine the way in which cash waqf is utilised in the growing activities of waqf property. By comparing and contrasting between these two instruments of waqf, one needs to fully understand the importance of inalienability, perpetuity and illiquidity as investment qualities of them. Using secondary data in the case of Iskandar Malaysia, the scenario of inaffordability in owning properties is sighted. Interestingly, therefore, cash waqf offers an alternative in contributing to the success of Transformation Agenda of Affordable Residential Property Waqf in the country.Keywords: Cash waqf - Property waqf – Waqf Property Tranformation Agenda – Iskandar Malaysi

Predicting corporate failure: evidence from Malaysian companies / Nur Azlin Ismail

Corporate failure prediction had been widely researched especially in the UK and us. However, there is limited study on corporate failure prediction for Malaysian companies. Thus, this study aims to develop a corporate failure prediction model for Malaysian companies by examining the relationship between the accrual based and cash flow based within the same category of ratios. The categories selected for this study are liquidity, solvency, profitability and efficiency. Each category is represented by one accrual based and one cash flow based ratio. This study also examines whether there is a significant relationship between the dependent variable namely, the probability of corporate failure, and the independent variables which consist of ratios such as Current Asset to Total Asset, Operating Cash Flow Ratios, Debt Ratio, Cash Flow From Operating to Total Debt, Return on Invested Capital, Cash Return on Sales, Sales to Total Asset and Reinvestment Ratio. This study further examines the accuracy of the corporate failure prediction model by using selected ratios and logistic regression statistical was employed to construct this model. The final sample for this study consists of 25 failed companies where these companies are referred to as PN17 companies and 35 non-failed companies over a five-year period from 2005 to 2009. The finding of this study show that; a significant relationship exists between Debt ratio and Cash Flow to Debt ratio and between Return on Invested Capital and Cash Flow on Sales, all selected ratios have significant relationship with the probability of corporate failure except for Debt ratio and the logistic regression indicates that the accuracy model can be examined at an acceptable percentag

Trust: An esential key for waqf crowdfunding

Purpose - Off all the recent growing philanthropy innovative advances, websites crowdfunding being one of the most impressive ones.This success is due to an exciting, emerging, and attesting crowdfunding intermediary’s that viable to attract waqf and charity donations. crowdfunding is a manner of fundraising that is done by asking a large crowd of people to contribute money to support a specific cause for instance an artistic project, a philanthropic project or a business venture.These contributions can vary in amount from a few dollars to hundreds of thousands, the funding is achieved by pooling all of these collections, big or small, together to achieve the larger goal for the fundraisers to be able to achieve or complete the aimed project.In general, research on crowdfunding investigated few areas such as identifying differences types of crowdfunding’s, legal ramifications of crowdfunding, security laws, usage of crowdfunding as a price discrimination model, and view of crowdfunding as pre-ordering transaction from consumerism perspective.This paper intends to visualize on the potential of digital based crowdfunding as collaborative waqf funding platform. The study aims to uncover how can the relationship between Islamic crowdfunding participants is influenced by the trustworthiness and credibility of the organizers and platforms could contribute to a reliable environment of the virtual setting of transactions.The scope of this study is limited to Islamic based crowdfunding that carry waqf values and included organizers whose names are well-known.Methodology - The case study is selected as the main research strategy for investigating the research questions.The main reason for selecting case studies because it provides some good insights into complex issues on a limited number of events or conditions and their relationship.There are critics on strategy of using case study for not being a source of generalizable knowledge due to usually a small number cases being used.However, this strategy also shown that case studies are useful not only when conducting an explorative study, but also provide valuable insights when conducting explanatory or descriptive research.Three case studies selected in this paper are EthicCrowd.com in Islamic real estate services and waqf philanthropy, Wakaf Selangor Muamalat (WSM) in regulated financial waqf crowdfunding and WorldWaqf in waqf philanthropy.These cases were selected to represent a diverse set of crowdfunding operations that vary in terms of operations, governance and regulations and risk/return for the participants. As this paper seeks to explore the complex relationship inherent in crowdfunding activities it will mostly rely on the gathering of qualitative data. The data is collected through two ways. The first way is through observation which allows the researcher to, in an unobtrusive way, observe the behaviour of the operators and the platforms. This is possible as the crowdfunding activities takes place in an online public setting, which gives the best observations as the subjects are unaware of them being observed and therefore it doesn’t influence their behaviour.Furthermore, as trust is a social construct that is communicated unconsciously, observations can be the best way to collect data on the reaction and behavior of the subjects. Another of source comes from seminars organized by the organizers and a question and answer (Q& A) sessions. These platforms had provided access to data that helped to guide the writing process towards answering the research question. However, as trust and credibility are communicated and presented unconsciously, most observational data from the net is used to analyze the waqf crowdfunding relationship.The second way is through semi structured interviews. Each interview conducted began with explanation of the method and description of the research interest. We had accordingly conducted appropriate protocols for the semi structured. The advantage to this research approach is the ability to collect in situ data, not just reflective data. However, the disadvantage is that bias is introduced through self-report and participant observation.During the analysis stages, we employed a selective coding and analysis. A comparative tabulated matrix based on thematic approach were used to portray the comparative elements through the projects or campaigns, donation collections as well as the flow of operating service models.Findings - The findings have implications on the understanding of agency theory for service managers running philanthropic waqf based entities who are interested in launching and/or managing crowdfunding initiatives, and for distribution theory in terms of extending the donators’ role from just giving away to seeing the impact through profiling reporting. The key findings of this paper are that crowdfunding can provide a viable alternative for waqf entities to attain funding for their projects by cooperating with reliable organizers especially the Islamic fintech companies who act as the trustees and agents.Trustworthiness and credibility are found as essential to signal to the online community who have little protection on the transactions. Only by providing this that the donation for waqf fund could be raised as projected and distributed accordingly.The study suggested that the best way of doing so is to develop a shared social identity where donors feel they become part of a larger group of waqf funding products

Shared mental model as an enabler of Malaysia waqf land development

Background - It’s been ages! After a century of being surrendered, wakaf Seetee Aisah(WSA) was finally improved and optimally beneficited as desires.However, there are still 88 percent of registered waqf lands have not been upgraded and developed.due to the inadequate treatment by law and market forces. Invisibly, deficiency in mutawwallis’ capability and capacity are among the contributors for the delay.Working in a team would be an appropriate interface in reviving those demoted waqf lands. Shared understanding of the team work and task work were in a linear relationship with the social philanthropic waqf character.Thus, cross-sector partnership was the identified runtime used in WSA development. Purpose - This shared mental model (SMM) life story is lays on the first commercial waqf land development in Malaysia. The study aims to understand on how does the interaction and adaptability were applied among the members.in positioning themselves in the WSA development team. By having an investigation towards this complex collaboration, the ontology of the SMM is not only being accessed in satisfying the different societal sectors objectives but also on how did the WSA deed was executed and accomplished by it.The relation and algorithm description were then being conceptualized and supported by the means of UML framework.Methodology - To gain an understanding into the application of SMM, a series of in-depth interview was conducted among the WSA main actors; Majlis Agama Islam Pulau Pinang(MAINPP) and UDA Holdings (UDA), Using an extract of WSA successful story, an empirical input- process output (I-P-O) UML outlay was used to scrutinize the indexed of the convergence and collectivity theme derived from these interview transcriptions.The iterative process of validation, refinement and peer review involves both actors and researchers. Besides, several documents such as fatwas and enactment were used to triangulate those findings.Findings - It was found that, WSA development is engaging SMM Team Model.as its design up to tailoring other members expected behaviour.The findings of understanding on SMM setup in WSA are presented in three different layers: Input : 1. the team members had set a stepping stone based on their background and resources before entering the strategic intersection in developing waqf lands; but both main actors shared the same the same vision Process :1. The adoption and adaption cycle was going so quickly along the waqf land development. 2.SMM also being interacted by other indirect team members. who involves in the WSA development 3. The startegic and tactical planning in WSA development also being influenced by the SMM application.Output: The SMM had created a competitive advantage for all members and successfuly improved the optimzation of the WSA land potential

CUBE Enterprise / Nurul Afiqah Ismail... [et. al].

This business is based on partnership where it consists of four (4) members. The members consist of the General Manager cum Administration Manager, Marketing Manager, Operational Manager and Financial Manager. The business capital is amounted to RM 50, 602. We also take loan from bank amounted to RM 75,000. CUBE Enterprise is a company related to the sweet corn based product. Our market focus is to introduce a new style of healthy fast-food to the public. The uniqueness of our product is it has variety of flavor, friendly-use container, and been accompanied with several types of toppings. Our business will be expected to commence on January 2013 and our vision is to make our company a well-known producers of healthy fast-food that satisfied our worldwide customer. This will be realized by the full cooperation and efforts among the partners to promote this company. Based on the objectives above, we are venturing into the fast-food industry. Healthy fast-food has the potential of being a profitable business if it's done in modern and unique way that may attract customer at different age or gender. We will expect that our business will become more developed in the near future because the demand for the healthy fast-food is high and yet now this kind of business is started to grow. This will give more advantages for us to make our product more profitable and stabile in the long run

Usage of mobile applications in diabetes management: a review

Peer-reviewed articles on the usage of mobile applications in the management of diabetes were reviewed. Studies using mobile device applications for diabetes interventions published between January 2007 and March 2013 were included in this review. Studies related to the developmental processes of the mobile applications were excluded. The characteristics of these studies and the outcomes of the methods used in the management of diabetes were gathered. We retrieved a total of 372 articles from ACM Digital library, PubMed and Proquest Medical Library. After applying the inclusion and exclusion criteria, 8 articles were eligible for further review. Most of the studies included in this review showed the effectiveness of mobile applications in diabetes management. Their major contribution comes from feedback functions of the systems that assist participants in the self-monitoring of their blood glucose and dietary intake. However, the majority of the studies showed the limited use of the mobile phone as a tool to input information into systems which would in turn convey a reminder message to the patient. In conclusion, with its features of portability and convenience, mobile application used in the management of diabetes has the potential to improve glycaemic control, resulting in significant clinical and financial benefits

Waqf management in Malaysia universities under the concept of Nazir, Mutawalli and Qayyim

Purpose - This paper aims to discuss the scope of powers exercised by the State Islamic Religious Council (SIRC) when appointing universities to manage their waqf funds.This study also examines the concepts of Nazir, Mutawalli and Qayyim under the Shariah and Malaysian laws for the management of waqf in the universities.Additionally, several universities are selected in this study to show the varied powers entrusted by the SIRC to the universities in managing their waqf funds. Problem Statement - Legitimately, universities in Malaysia need to get approval from the SIRCs before implementing waqf in their institutions due to the sole trustee power exercised by the SIRC.Practically, in granting the permission for a university to establish a waqf fund, SIRCs provide procedures for universities to follow.From the study conducted, the procedures to be complied with are not spelt out yet in the enactments relating to waqf of the states.Therefore, the procedures to be followed may be changed depending on the circumstances and matters involved.The implementation of waqf in the universities without the approval of SIRCs is considered as opposing Malaysian laws. Once the approval is granted, the management of waqf by universities depend on the mode of appointment entrusted to them.Any of the three concepts of waqf management under the Shariah namely Nazir or Nazir Khas, Mutawalli and Qayyim may be granted by the SIRC to a university, depending on their circumstances.The nature of authorization given to the university depends on the state where the university is located. University Technology Malaysia (UTM) in Johore, for example, is appointed as ‘Nazir Khas’ to collect waqf funds for the university.University Science Islam Malaysia (USIM) on the other hand, has been appointed as Mutawalli for the collection and management of its waqf fund.Different terms acquired by universities indicate the various levels of authority entrusted as well as the check and balance practice to be adopted.The study notes that the appointment is officially granted once a Memorandum of Understanding (MOU) is signed by both parties involved, namely, the SIRC and the administrator of waqf in the university. Any dispute arising should be settled before the official signing takes place.The signing of MOU may be delayed if any term and condition is not agreed to by any of the parties.As a result, waqf funds cannot be collected and received until these matters are settled.Mutual understanding is required from both parties towards the betterment of waqf management in a university. It is believed that to achieve this, comprehensive rules and regulations covering the scope of powers of the SIRC as well as a clear concept concerning mode of appointment should be clearly spelt out for the betterment of waqf management in the university.Methodology - In achieving the aims of the study, a qualitative approach is incorporated. Data collection involves two methods.The first method is applied to obtain data from primary and secondary sources.The references include statutes, articles from published journals, conference papers, books and websites. As regard to the second method, interviews are conducted involving expert interviews. All the interviews are recorded and transcribed. Finally, all the data will be analyzed using the content analysis method. Findings - Findings of this study reveal several implications. First and foremost, the scope of power of SIRCs in appointing a university is not clearly spelt out in the waqf enactment of the states. The role of SIRC as a regulator of waqf should be made clear so that the appointment of a university as the entrusted authority to manage waqf assets becomes unquestionable. Therefore, it requires certain amendments to be made in the waqf enactments to be inline with the progress of waqf implementation in the universities. Secondly, the readiness of SIRCs to collaborate with the administrator of a university is imperative.Furthermore, mutual understanding between the parties would lead to the approval being granted smoothly. Autonomous powers should be given to the universities to manage their waqf funds without disregarding the regulatory power exercised by SIRCs.Thirdly, comprehensive rules and regulations are direly needed as a reference for the stakeholders involved

Comparing efficacy of octyl-cyanoacrylate dermabond adhesive glue versus vicryl 3/0 suture for closure of caesarean section skin incision in UKMMC- a prospective randomised controlled trial.

This is a prospective randomised controlled trial conducted at a tertiary hospital on 82 women who underwent caesarean section. The study group, 41 women underwent dermabond skin closure whereas the control group, 41 women had subcuticular vicryl skin closure. Anaesthesia, prophylactic antibiotic, operative technique and post-operative oral analgesia was standardised between both groups. Outcomes that were measured at day 2 before discharge and at postoperative day 10-14 were pain score using VAS, duration and total analgesic dose (after day 2), time taken for skin closure and adverse events between both groups in particular inflammation, surgical site infection and allergic reaction (itching)

Study of Emotional Variability Using Photoplethysmogram Signal

This study investigates the feasibility of photoplethysmogram (PPG) signals in recognizing variability in human’s funny, fear and sad emotions. Undoubtedly, Easy Pulse data acquisition device which is used to perceive the PPG signals have superior criterions which are small in size, low power consumption as well as low in cost. Thus, this study will prove the robustness and reliability of PPG signals as an emotion recognition mechanism. A total of ten subjects were chosen randomly which ranged from twenty-one to twenty-four years old. A total of five male and five female students were given three different videos to stimulate different emotions during the given time. Easy Pulse sensor, which has the ability in filtering the unwanted signals has made the study easier. Discriminative features are then extracted from the PPG morphology. PPI, maximum amplitude, as well as the Cardioid pattern of the signals. Finally, four methods of classification have been used to identify the variability in emotions. PPI, maximum amplitude, area and maximum radius of the Cardioid loop were used as the classifiers. These methods have clearly shown great results in differentiating between funny, fear and sad emotions. It was discovered that every human has different rate of sensitivity to fear and sad. Some have the tendency to be very sensitive to fear and some to sad. The experimental results demonstrated that the physiological signals such as PPG have great potentials where the system provides high classification performance

Cadmium (Cd) exposure among waste collector in urban area, Malaysia

Introduction: Cadmium (Cd) in urine and inhaled dust of the municipal waste operators was assessed. Methods: Urine spot samples were collected and analysed for Cd and creatinine of 60 municipal waste operators between April to June 2013. Respirable dust was collected using personal air sampling pump GilAir-3 and GilAir-5 for 8 working hours. Cd in urine and dust were analysed using the Flame Atomic Absorption Spectrometer (Perkin Elmer A Analyst 800) while urinary creatinine was measured using Reflotron® Plus creatinine. Results: The mean and standard deviation (SD) of Cd in the respirable dust (0.59 ± 50.27 μg/m3) was within the permissible exposure limit (PEL). The level of Cd in urine (0.015 ± 0.0097 μg/g Cr) was lower than the safe limit of 5 μg/g. The creatinine level (173.59 ± 50.27 mg/dl) was within the normal range (20 to 350 mg/dl). The multiple regression model shows smoking and years of smoking were the significant predictors for the Cd in the urine (R² = 0.216 F(3,56) = 5.150, p < 0.05). Conclusion: Municipal waste operators were exposed to minimal Cd exposure while handling waste and the accumulation of this metal urine was correlated with smoking habit