Abdul Jabbar Majid, a chartered accountant, has over 35 years experience in accounting, audit, receivership, liquidation, financial advisory and consultancy. His extensive experience involves working with companies in a wide range of sectors including property development and construction, manufacturing, retailing, trading, oil and gas, and investment holding.
Abdul Jabbar holds professional qualifications and memberships from the Institute of Chartered Accountants, Australia and the Malaysian Association of Certitified Public Accountants (MACPA). He is also a Member of the Malaysian Institute of Accountants.
Abdul Jabbar expressed his appreciation to the Minister of Finance on his appointment.
"I would like to thank the Minister of Finance, Y.B. Tun Daim Zainuddin for his confidence and trust in me on this appointment.
"I look forward to working closely with the team in KLOFFE and COMMEX to ensure the objectives of future development and growth of both exchanges are met, insyaallah" he said.
KLOFFE, the financial derivatives exchange which offers KLSE Composite Index futures and options contracts, is a wholly-owned subsidiary of KLSE. COMMEX provides trading in crude palm oil futures and three months KLIBOR interest rate futures contracts. KLOFFE and COMMEX completed the signing of the agreement to merge the two exchanges in December 2000.
On the merger of KLOFFE and COMMEX, Abdul Jabbar said the effort to rationalise the operations of the two (2) exchanges will be amongst the main tasks of his appointment.
"The significant effort in the consolidation of the two (2) exchanges is to achieve optimum utilisation of resources and economies of scale.
"The objective of contributing to greater efficiency will make our futures market more competitive, attractive and therefore the consolidation of the two exchanges must be implemented expeditiously," he said.
An active contributor to the profession of accountancy and the financial industry, Abdul Jabbar is a past president of MACPA, a council member and a member of the Executive Committee of MACPA, a member of the Exchange Committee of Labuan International Financial Exchange Inc. and a Director of Danamodal Nasional Bhd.
