How much (as a percentage of fund) would you guess it cost to transfer RMB 1,406 from Taiwan to Malaysia using the traditional banking services? In this article I share my expensive lesson on international fund transaction using traditional banks. A staggering 27.46% of my fund of RMB 1,406 was “taxed” by the intermediary. Both the sending bank (in Taiwan) & receiving bank (in Malaysia) said that there it was not possible to find out how the intermediary levy the charges!
It is necessary for any foreign higher education institutions (especially Taiwanese universities who are the newbies to the Malaysian market) to respect the law of the land and only collaborate with approved private colleges and universities and do so within the confine of ACT 555!
Setting up your teaching centres in Malaysia without adhering to ACT 555 is like you setting up a barbecue party at someone’s backyard without the owner’s consent and without inviting the owner!
The flow of tertiary students has been only one-way: only from Malaysia to Taiwan. Very few Taiwanese students are found in Malaysian colleges and universities. This article set out to find ways in which a more balanced and mutually beneficial framework of relationships between Taiwanese and Malaysian institutions of higher learning could be forged.
Based on the US model of population and income and compare these with the equivalents for Taiwan and Malaysia….the wisdom of Taiwan’s decision to reduce her universities by one third is apparent. It means also that Malaysia cannot sustain the high number of tertiary institutions. Wake up call?
All your customers, regardless of their spending budget, expect and deserve good quality and prompt customer service, if you fail to provide this, they can always vote with their feet.