Message from the CEO 2Q 2026: RAYA IS STILL IN THE AIR
In the spirit of tradition, I usually spend some time before Hari Raya buying gifts (clothes, cookies etc.) for my loved ones and close friends. The dash to prepare for Hari Raya and to get gifts for my dear family and friends had inspired me to jot down a note oncommercialism of celebrations.
The anti-commercialism movements certainly will not be thrilled reading this letter. It is common in the busy streets ofLondon and New York for the supporters of these movements to be vocal and openly express their rejection of the masses snapping up good bargains and gifts. Please do not let the celebration curmudgeons weaken and dampen your hedonism. We are in the state of denial about consumerism. A longstanding practiceof scholarly snootiness toward the commercialism has constructed an austere cheerless vision about as close to retail reality as Ptolemy’s flawed geocentric model. Consumerism
does not deserve its bad reputation – whether the bad rap stems from suspicion ofcapitalism or prejudiced dismissal of the pursuit as trivial indulgence. It is not necessarilya materialistic dead end. If done tastefully and thoughtfully, it can be a genuine expression of one’s personality and acknowledgement of one’s appreciation towards others, as well as a source of growth for local economy and community.
As we celebrate the festive season, Private Pension Administrator Malaysia (PPA) finds ita perfect time to reflect the performance of Private Retirement Scheme (PRS) funds and show appreciation towards our providers and fund managers who delivered good value and great results to our members. There will be an inaugural PRS Funds Award ceremony in April where PPA highlights consistent performing funds and dependable performers.
We will also organise in May a highly bespoke and curated engagement with the country’s top employers to encourage them to co-contribute through PRS for their workforce and create a connected workplace culture where employees feel valued and their retirement is secured. Recognising the critical importance of connectivity, we will also spend the next quarters upgrading PRS member’s portal and making it more intuitive as we strive to deliver trust and clearer value to our members.
We cannot take trust for granted. Recent wars and conflicts have profoundly damaged trust on multiple levels, and no one escape from feeling the heat. Some said that we live lives of simmering fury. As we get older, anger becomes constant companion. Almost everything enrages us, from delayed deliveries to political bickering and geopolitical hostility. As the war in the Middle East / West Asia rages on, households across the world face soaring energy prices and the prospect of supply chain crisis. Iran is a major oil producer and exporter, ranked second in the Middle East behind Saudi Arabia. It also has a strategic control over the Strait of Hormuz, through which a large portion of the world’s oil is shipped. Oil has been the “lifeblood” of modern human civilisation – it powers most of the transportation, fuels industrial production, and serves as the primary raw material for fertilizers, plastics and lubricants necessary for high-speed machinery.
One does not need eye-popping inflation report to know that prices are getting painfully high. We can see it every time we go to petrol station and when we are at the supermarket. Rising prices stoke anger. I always remind myself that if I were to be angry, it must be righteous and not repulsive. I understand that lives are full of compromises and trade-offs. Instead of dwelling in anger and frustration, we should look at this as a chance to build our resilience. It is a call for us to live our life and manage our finances well. In the spirit of reflection as well as celebration, PPA and I seek forgiveness from our members and partners: letting go of grudges, releasing of frustration that may hold us back. The month of Ramadan teaches us the ability to withstand adversity, and the Year of the Horse reminds us that we can turn chaos and challenges to celebration.
Selamat Hari Raya. Maaf Zahir Batin.
“Let’s think of the things to be grateful for and let go of the maybes
and the could haves – most of all, remember kindness.”
Warm regards,
Taufiq Iskandar
Chief Executive Officer
Private Pension Administrator Malaysia (PPA)