MARC Chief Economist
Nor Zahidi is MARC’s Chief Economist who oversees MARC’s macroeconomic research and analysis, focusing on domestic and major economies’ fiscal and monetary policy issues and economic outlooks. His insights provide sound macroeconomic perspectives for MARC’s credit ratings. Nor Zahidi’s research experience dates back to 1988 when he commenced his career with a market-research firm in Cambridge, Massachusetts, USA. In 1990, he returned to Malaysia to join The New Straits Times Press (M) Berhad as a Senior Analyst. Thereafter, he was attached to the National Economic Action Council (NEAC) and was the Chief Economist of Alliance Merchant Bank Berhad and Kuala Lumpur City Securities Sendirian Berhad, as well as Head of Research/Economist at MCISZurich Insurance Berhad. Nor Zahidi earned his Bachelor of Arts in Economics Policy and a Master of Arts in Economics from Boston University, Massachusetts, USA.
Quah Boon Huat
MARC Senior Economist
Boon Huat is a senior economist at Malaysian Rating Corporation Berhad (MARC) where he specialises in sovereign credit ratings. Prior to joining MARC, he was an economic consultant at the OECD Development Centre in Paris. At the centre, he was involved in drafting policy recommendations to encourage stable, sustainable and equitable economic growth and development in Southeast Asia. Boon Huat was also formerly a research fellow at the Malaysian Institute of Economic Research where he participated as, among others, a consultant in state-funded consulting projects aimed at boosting state growth and development.
MARC Chief Business Officer
Ahmad Feizal Sulaiman Khan is MARC's Chief Business Officer, Ahmad Feizal leads the Business Origination and Development Division which is responsible for driving the growth of MARC’s rating and non-rating businesses.
Ahmad Feizal started his career in Dublin, Ireland, as an auditor with BDO Simpson Xavier. Upon his return to Malaysia, he joined CIMB Investment Bank Berhad’s Corporate Finance team and later joined Bank Islam’s Capital Markets team. He was instrumental in the recapitalisation exercise of Bank Islam, which saw Dubai Investment Group emerge as a substantial new shareholder of the bank in 2006.
Prior to joining MARC in 2014, Ahmad Feizal was the Head of Wholesale Banking of Century Banking Corporation, the first Islamic bank in Mauritius, where he was credited with the execution of the first Commodity Murabahah Financing and the first Islamic Commercial Certificate (Wakalah) issuance in Mauritius. He also had a stint heading a property development company in Dubai before returning to Malaysia. With a career spanning more than 20 years and across four continents, Ahmad Feizal has accumulated a wealth of experience in various roles in corporate finance, capital markets, real estate and business management.
Ahmad Feizal is a Fellow Chartered Accountant of Ireland and holds a Bachelor of Science in Accounting and Financial Analysis from the University of Warwick, UK.
Principal Director, MARC Risk Management Solutions Sdn Bhd
Milly is currently the Principal Director of MARC Risk Management Solutions Sdn Bhd. The focus of her work is currently on credit risk models and sustainability-linked financing assessments. Prior to her secondment to MARC RMS in May 2019, Milly was MARC’s technical director. Milly has over two decades of experience in the credit rating industry in various analytical, conceptual thinking and problem-solving roles; she was MARC’s Chief Rating Officer from 2007 through 2012 before moving to the role of technical director in 2013. As technical director, she was responsible for the development of MARC’s credit and non-credit rating methodology, as well as supporting business development in identifying new market spaces and in new service initiatives, and analytical capacity building. Milly has been a trainer since 2015. She is a certified CPA and holds accounting and MBA degrees from Monash University and Deakin University respectively.
Meor is the Chief Executive Officer of Bond Pricing Agency Malaysia Sdn Bhd. Over the years, Meor has progressively developed BPAM's core business to become the principal source of valuation and data reference on the Malaysian Sukuk and Bond market.
He continues to reinforce BPAM's position as a specialist in valuation and to expand its reach with its stable of innovative products, providing world class data in keeping with Malaysia's leading position in the global Sukuk market.
He has written a number of articles for various journals on credit as well as valuation issues. He is also viewed as a subject-matter-expert and has been engaged by many institutions including regulators to conduct lectures and training.
He has a Masters of Business Administration with specialisation in Finance from the International Islamic University, Malaysia. He also has a Bachelor of Science degree in Actuarial Science from the University of Kent in Canterbury, United Kingdom.
Prior to this position, he has been with Rating Agency Malaysia, Malaysia's first rating agency, since 1994 and his last posting was Head of Financial Institutions Ratings division. He was also a central banker with Bank Negara Malaysia between 1992 and 1994.
Dr. Syed Adam Alhabshi is Partner at Shook Lin & Bok, leading the Islamic finance and corporate banking practice. Dr. Syed Adam holds a PhD in Islamic Finance from the International Centre for Islamic Finance Education (INCEIF). He also holds a Chartered Islamic Finance Professional (CIFP) from INCEIF, and read law at the International Islamic University Malaysia.
Dr. Syed Adam is currently an Honorary Secretary and Grand Council Member of Chartered Institute of Islamic Finance (CIIF) and the Associate Member & Internal Auditor- Association of Shariah Advisors in Islamic Finance Malaysia (ASAS). Professionally, he is also a Chartered Professional in Islamic Finance (CPIF).
Bob has taught management development seminars throughout the U.S., Asia, and Europe to thousands of managers from over 25 countries. He has taught at the Master level at San Francisco’s Golden Gate University, Monash University, the University of Nottingham, and University of Malaya. He has authored cases for Harvard Business School, the University of Malaya, PETRONAS, and Malaysia’s Securities Commission, among others. His op-eds have been featured in Bloomberg, Financial Times, Reuters, and South China Morning Post and he is the author of Benchmarking for Competitive Advantage, (McGraw-Hill, New York). Bob is a member of the Harvard Clubs and Harvard Business School clubs of Malaysia, Singapore, and Japan.
Bob holds the Bachelor of Science degree, summa cum laude, in accounting from the University of Hartford and the MBA degree from Harvard Business School.
Kenny is a virtuoso in financial skills development whose career in banking and finance has spanned over two decades, covering major Asian countries such as Singapore, Malaysia, Australia, and Hong Kong. He has held various positions in corporate banking, project finance and capital market operations with organizations such as the United Overseas Bank, Singapore, the Malaysian Armed Forces Fund Board, TA Securities in Malaysia, JP Morgan Chase, the Dow Banking Group of Switzerland, the Royal Bank of Canada and the Asia Finance in Sydney, Australia. He is a registered chartered accountant (Malaysia) and also a fellow of the Association of Chartered Certified Accountants (ACCA) and the Chartered Institute of Management Accountants (CIMA) in UK.
Loke Lim has almost thirty years of banking and finance-related experience. Currently, he is the principal of i-Biz Concept Sdn Bhd, a financial training and management resources provider. He is also director of a Bursa Malaysia-listed company and sits on the Board of Governors of the Financial Planning Association of Malaysia, where he was the deputy president from 2011-2013. Previously, he was the chief executive/licensed representative of a fund management company, a general manager at KAF Investment Bank Berhad and the group chief internal auditor of a KLSE (now Bursa Malaysia)-listed company. He speaks regularly on topics relating to capital market, treasury, accounting and wealth management, and conducts training programmes for capital market professionals, private bankers and wealth managers in various financial centres in the Asia-Pacific region. He is a chartered accountant, a fellow of the Association of Chartered Certified Accountants (ACCA) and a Certified Financial Planner.
Ray Choy heads a team of Fixed Income, Currencies and Commodities (FICC) research professionals across South East Asia, at a leading financial conglomerate. Ray’s experience in the financial markets spans two decades and includes G3 and Asian fixed-income and currency strategy, US Dollar global bond funds management, regional equities investments, commodities research and credit ratings. Ray has set up two sell-side research teams for investment banks, as well as a global funds management and research team at the buy-side. Apart from management duties, he remains actively involved with the financial markets in formulating and communicating FICC investment strategy for the financial markets
Ray’s has lead research teams which were ranked in various polls and was individually ranked 1st twice by a leading regional publication. He has also received an award for contributing to fixed income research and development of the Malaysian bond market. In addition, Ray is a regularly invited conference speaker and commentator via various media channels such as Bloomberg, and has a column in The Edge Weekly. Being an avid writer, Ray authored a book entitled ”Essays in Bond Market Economics” published in the US in 2016, internationally distributed by Amazon.com. The book has been endorsed by professionals of a US global asset management company, a UK global bank, and a UK university.
Ray has been extensively trained in finance, economics and politics, being awarded Bachelor’s degrees with 1st class Honours and distinction from the London School of Economics & Political Science and Heriot-Watt University, a Masters degree from the University of London and will be completing his PhD with the University of Nottingham in 2020 following completion of his research on Sovereign Credit Ratings.