Nor Edi Azhar Binti Mohamad

Working Capital Management Efficiency: A Study on the Small Medium Enterprise in Malaysia☆

Abstract This preliminary study was made with an attempt to analyze the efficiency of working capital management in the selected small medium enterprise companies in Malaysia. The secondary data was derived from Suruhanjaya Syarikat Malaysia. Database of 24 companies are randomly selected from the SME Corp website for four years period from 2010 - 2013. In analyzing the efficiency of working capital management three indexes was used in this current study namely, performance index of working capital management (PI WCM ), utilization index of working capital management (UI WCM ), and efficiency index of working capital management (EI WCM ). The results reveal that the selected small medium enterprise company was less efficient in managing their working capital during this study period.

The Liquidity Analysis Of Asian Real Estate Investment Trust (Reits)

The emerged of REITs offered the investors an alternative liquid exposure to income-generating real estate investment. This publicly traded REITs liquidity was induced by its ability to be sold off quickly in raising cash compared to sell off a real estate assets. Acknowledging the importance of liquidity, current study evidenced REIT liquidity over the 2010–2016 period across five Asian countries namely Malaysia, Singapore, Japan, Taiwan and Hong Kong. The market-microstructure characteristics of liquidity was used to facilitate this study. The indicators of liquidity are the percentage spread, dollar volume, and turnover used to benchmarks the comparisons across Asian market. The Study documented that Taiwan REITs is more liquid comparing to others Asian REITs based on percentage spread, Hong Kong is more liquid based on turnover value while Japan is more liquid based on dollar volume. The findings of this current study are significant towards a certain aspects of liquidity that still relevant in influencing the investor decisions in shaping the suitability and attractiveness of REITs investment across Asian country.