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BAIDURI BANK CELEBRATES SUCCESS OF JA COMPANY PROGRAMME PARTICIPANTS
3rd May 2013

Bandar Seri Begawan, 3 May 2013 –Twenty five students from five participating secondary school shave recently completed the JA Company Programme, a pilot project organized by BEDB with collaboration from Department of Schools, Ministry of Education and mentored by Baiduri Bank personnel.

Junior Achievement (JA) is a well-established international programme dedicated to educating students about workforce readiness, entrepreneurship and financial literacy through experiential hands-on programmes. The Company Programme was conducted over 12 weeks, whereby students aged from 14 to 16 years old, with the help of mentors of Baiduri Bank established and operated an actual business enterprise which the yaptly named, D'teens Student Company.


The D'teens Student Company sold baked goods, made lovingly in the home education kitchen in Sekolah Menengah SMJA.  These were sold at special functions on pre-order basis. The student entrepreneurs carried out everything from product development, sourcing of raw materials, production, marketing campaigns, sales analysis - overlooked by the President and Vice President of the company who were elected from among the students. During the duration of the programme, the students conducted weekly Board Meetings where they updated each other on activities happening in their respective departments.  Major decisions concerning the company were carried out through voting. Throughout the 12 weeks, the students learnt business administration, leadership and interaction skills and had the chance to apply some of the theories from school subjects such as Maths, Accounting and Chemistry.

At an appreciation event marking the successful completion of the programme, the students received certificates of participation from Rosmawati PDIS Johari, Accounts Relationship Manager, Corporate Banking Division in Baiduri Bank who was one of the mentors in the programme.

Md Daniel Asyraf, President of D'teens Student Company exclaimed, "The past 12 weeks has been really exciting for me.  I learned the functions of each department and how businesses actually work. Before I join this programme, I thought that creating a company was easy - just sell stuffs, but now I know that planning and control is important.  We need to look into details such as cash flow in order to achieve target profit, as well as carrying out proper accounting.  For example, we need to obtain receiptsfor everything that we bought for proof."

D'teens Student Company raised capital by selling shares. One of the shareholders, Ms Dorothy Newn, the Corporate Communications and Marketing Manager in Baiduri Bank said, "I bought some shares in the beginning just to help the students in setting up of their company. I've always believed in them but never imagined that I would receive a return of over 100% profit in only a short time!"

At the official liquidation and final Board of Directors meeting, Bassam Mohamed Jawahar, the Vice President of the Finance Department in D'teens, announced the total income to an overjoyed crowd of shareholders. The income enabled them to recover their capital, and even pay off profit dividends.

Participants of the JA Company Programme under mentorship of Baiduri Bank are students from Sekolah Menengah Sultan Muhammad Jamalul Alam (SMJA), Maktab Sultan Omar Ali Saiffudien (SOAS), Sekolah Tinggi Perempuan Raja Isteri (STPRI), Sekolah Menengah Menglait and Maktab Sains Paduka Seri Begawan Sultan.

This is the second JA programme that volunteers from Baiduri Bank participated in. The first was the "Economics for Success" Programme that was part of the inaugural pilot scheme involving students from Jerudong International School last year.

 
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