Crescent Wealth

Crescent Wealth, currently manages a total investment of A$160 million (RM478.4 million), is talking to a number of financial institutions in Malaysia. Crescent Wealth is the trading name for Crescent Funds Management (Australia) Ltd, a wholly owned subsidiary of Crescent Investments Australasia Pte Ltd. Superannuation is Australia's compulsory lon... g-term savings plan that puts away 9.5% of a members' money and invests it on their behalf for retirement. It is almost similar to Malaysia's Employees Provident Fund (EPF), except that the Australian system allows the employee to choose to park their investment with numerous private investment funds. Omar, who took part in a financial conference in Kuala Lumpur, said that Malaysia is a "great partner country" as it has the experience to manage Shariah-compliant products over and above the existence of financial institutions. "We find that a lot of Malaysian companies are advanced in Islamic finance because they have the experience. In Australia, we have honed our skills in marketing development and engagement of clients with financial products. So if we combine the two, we become a pretty powerful force," he said. He claims Crescent Wealth is the first private Islamic-compliant pension fund in the world. On what would attract Malaysian investors to the firm, Omar said Malaysians are pre-disposed to Australia as they have either studied or have kids studying there, like visiting Australia and have a healthy appetite for properties there. "We want a firm presence in Malaysia as well as the Malaysian market equally. In five years, I will be happy managing A$500 million through new partnerships jointly developing products and initiatives to fortify a two-way capital fund flow," he said. Crescent Wealth has a Malaysian advisory board whose role is to provide strategic advice. The board includes Datuk Mohamed Azahari Mohamed Kamil and Mohd Ridzal Sheriff, according to information at the company's website. Mohamed Azahari has just retired as the CEO of Kuala Lumpur-based ...Read More