HSBC Bank Malaysia Berhad and MySkills Foundation (MSF) today announced their collaboration in a joint venture initiative to empower at-risk youth in Malaysia with the skill sets required for gainful employment. A Memorandum of Understanding (MOU) was signed between HSBC Bank Malaysia Berhad and MySkills Foundation today, at the MySkills Transformation Campus in Kalumpang witnessed by YB Tuan Kulasegaran Murugeson, Minister of Human Resources, Malaysia.
The 12-month training programme commenced from April 2019, targets 100 youths to equip them with vocational training, life management and soft skills in order to transition them to higher paying jobs upon graduation from the programme.
The initiative not only supports youth who are in need of sustainable livelihoods but also addresses the country’s challenge in hiring talent with technical and vocational education and training (TVET) related skills. According to the government’s 11th Malaysia Plan, about 60 percent of the 1.5 million new jobs expected to be created in Malaysia between 2016 and 2020 will require TVET skills and there are concerns of a lack of Malaysians trained with the right skill sets to meet the demand.
Funded by HSBC, the training programme which includes vocational training is to enable the 100 students for careers in electrical, plumbing, air-conditioning, corporate secretarial and bakery production. Graduating students will be placed with industry partners – which include small-and-medium enterprises and contractors. Concurrently, MySkills will also train the students in basic employability skills, knowledge and work ethics needed to successfully transition into the workforce.
Stuart Milne, Chief Executive Officer, HSBC Malaysia said at the ceremony, “Since our foundation in 1865, HSBC has helped communities to thrive in the modern world. One of our main Corporate Sustainability pillars is to support the financial capability and employability opportunities of the people in the communities we serve, especially for young people.”
“Through our partnership with MySkills Foundation on this project, we hope to give the youth exposure to a wide range of skills that will bolster their chances of having a bright and successful future. I would like to commend MySkills Foundation for their extraordinary contribution to enabling the next generation of Malaysia to become economically independent. We are pleased to have the opportunity to work with such a reputable community organisation that shares our vision of supporting and enabling the employability of young people and look forward to working with them to execute this project over the coming year”, he added.
“MySkills Foundation aims to increase the exposure on work experience (On-Job-Training) to lower the dropout rate that exists, one of the challenges faced. The exposure we hope, would best build occupational character building that will result in stronger retention. Our partnership with HSBC adds greater value for sustainable transformation in terms of human capital, skills competency and enterprising value-based education” , said Mr S Pasupathi , Director of MySkills Foundation.
“Recent study showed a disconnect between the skills that educational and training institutions are imparting and what the industry is seeking. Malaysia has a well-educated workforce, fairly low unemployment and a government proactive in expanding its pool of skilled workers. We remain fully committed to supporting economic growth, inclusion and skills training in this country.”
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