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Project KERIS I- Weekly Call
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SPEAKER TALKTIME

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NNG Y Aloysius
164
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MMuhamad Ridzuan Bin Baharudin
141
14%
RRAJANTRA Anusyia
152
6.7%
CCHUA K Jeremy
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CCHENG Clarence
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SSpeaker 7
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HHana Binti Mohamed
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Project KERIS I- Weekly Call
Hana Binti Mohamed
Nov 20 2024, 7:30 AM
English (Global)
KYC
Legal Documentation
FA Updates
Amortization
Compliance
GC Setup
Overview
In the weekly Project KERIS I call, key updates included the clearance of KYC
documentation with no pending items, and a reminder that the GCA fee schedule
and loan balance letter are due by December 1. Discussions emphasized the early
execution of documents by Pakeso to initiate setups and detailed the sharing of
a pricing matrix and FA launch form. The meeting covered the amortization
methodology, highlighting a difference between BNPP's system formula and Excel
calculations, which requires Pakeso's review, and ongoing compliance checks,
including draft plans and GC account setup issues. Additionally, the billing
setup options were discussed, with a recommendation to reduce ASL users for a
more efficient KYC process, while project management transitions were addressed
due to Aloysius's upcoming leave. Action items were assigned to team members for
timely follow-up on these various aspects.
Notes
🏦 Legal Documentation and KYC (00:02 - 05:40)
 * KYC is cleared, no pending items
 * GCA fee schedule, GC OSL, and loan balance letter due by December 1st
 * Pakeso to execute documents early to kickstart setups
 * DFA executed, hard copy to be sent to Pakeso
 * AutoFX and Daily Mandate not relevant for phase one portfolios

📊 FA Updates (05:50 - 11:20)
 * FA launch form received from Pakeso
 * Pricing matrix shared with Pakeso
 * FA OSL to be shared by end of the week
 * Sample fund reports based on September valuation data to be ready next week
 * Fee matrix to be finalized after fee schedule execution
 * Capital injection/withdrawal instructions to be notified via email

💼 Amortization Methodology (11:24 - 15:06)
 * Formula for amortization calculation shared
 * BNPP using system formula, different from Excel calculation
 * Pakeso to review if BNPP's system formula can be applied for reporting
 * Impairment and additional reporting currency under review
 * Trial balance to be covered in test sample next week

🔍 Compliance and GC Setup (15:06 - 20:45)
 * Draft plans received, comments under review
 * PN17 companies queries being addressed
 * GC account opening form can be executed early
 * Fax instruction issues being reviewed with IT team
 * Callback list to be tested against fax instructions

💰 Billing Setup and KYC Process (20:45 - 32:04)
 * Billing setup options discussed
 * Pakeso to review workflow for billing setup
 * Alliance Bernstein submitted 101 users for ASL, impacting KYC process
 * BNPP suggests reducing ASL users to 20-30 to expedite KYC process

👥 Project Management Updates (32:37 - 36:43)
 * Aloysius going on compliance leave next week
 * Anthony to cover as project manager for Pakeso and EFM onboarding
 * Updated KYC list from Pakeso will not impact onboarding process

Action items
Muhamad Ridzuan Bin Baharudin
 * Execute GC account opening form early (22:23)
 * Review and provide feedback on amortization calculation method (13:31)
 * Discuss with Alliance Bernstein about reducing ASL users from 101 to 20-30
   (33:50)

NG Y Aloysius
 * Update action log with new information on capital injection/withdrawal
   instructions (07:58)
 * Follow up with Roshini on Neolink form review and update Rizwan (27:07)
 * Share workflow for billing setup with Pakeso (31:11)

RAJANTRA Anusyia
 * Share FA OSL by end of the week (05:31)
 * Prepare sample fund reports based on September valuation data (06:17)

CHENG Clarence
 * Send executed hard copy of DFA to Pakeso (04:03)
 * Provide description of billing setup workflow to Pakeso (30:59)

CHUA K Jeremy
 * Send email to Pakeso detailing preferred characteristics for ASL users
   (34:47)



Transcript

MMuhamad Ridzuan Bin Baharudin

00:02

Hello everyone. 
NNG Y Aloysius

00:02

Good afternoon. Thank you for joining us. I can see people starting to come
in. Maybe we can start in one to two minutes time. 
MMuhamad Ridzuan Bin Baharudin

00:32

Okay. 
NNG Y Aloysius

00:33

I think on BMPP's end we have. Everyone is in. Rizwan Zi Are we. Are we good to
kick start today's call? 
MMuhamad Ridzuan Bin Baharudin

00:51

Yeah, I understand. You can start. 
MMuhamad Ridzuan Bin Baharudin

00:53

Okay, sure. 
NNG Y Aloysius

00:54

Thank you very much. Okay, as usual, I'll start from the work stream listed at
the front of the action log just on KYC is cleared, so nothing is pending. And
Rizwan unnoted the updated documents that you shared across with us. So Kevin
will be reviewing them. But it will not have any bearing in terms of this KYC
review which we have closed previously. So this will be status code. In terms of
legal documentation, we are nearing to the due date for most of the items here
on the GCA fee schedule, GC osl as well as the loan balance letter. So Rizan, I
think I recall Tracy also dropped a note to you last Friday on this document. So
if you can execute these documents early, there will be great for us to kick
start the setups, especially on the GC front. 
NNG Y Aloysius

01:52

But if not as long as it's before the 1st of December, that would help us with
the preparation for the account opening. So at this point of time, in terms of
the GCA and also to the fee schedule as well as the GC osl, do you have any
further questions on those? 
MMuhamad Ridzuan Bin Baharudin

02:18

So for now I think shouldn't be issued from your site requirement for submission
for the reporting. 
NNG Y Aloysius

02:33

Correct. 
MMuhamad Ridzuan Bin Baharudin

02:34

Semi annual. So that's clear from outside. 
NNG Y Aloysius

02:39

Correct. I think on the SC reporting, Tracy has mentioned whether she will. It
will not impact the signing of this document because if it's confirmed then an
additional addendum or update to the OSL will be introduced. So I think based on
that feedback it should not be. It should not impact the latest version of these
documents that have been shared across. 
MMuhamad Ridzuan Bin Baharudin

03:10

Yeah, yeah, okay, sure. 
NNG Y Aloysius

03:14

Thanks. For the osl for the past on the performance as well as the compliance
reporting osl, you can we also. We are also nearing to the due date in terms of
review. If you could share your comments that would be great. So our team here
can actually review your comments to see if there are any amendments required. 
MMuhamad Ridzuan Bin Baharudin

03:37

Okay. 
NNG Y Aloysius

03:38

For the fa, I'll touch on that later on in terms of osl, but it should be shared
across to Paso by the end of this. We. All right. Okay. For the dfa, it has been
executed. Clarence Chang, Can I just check with you if the executed document has
been sent back to Pakeso. 
MMuhamad Ridzuan Bin Baharudin

04:02

Hi Lucius. 
CCHENG Clarence

04:03

Yeah, not yet, we're still executing the hard copy and then we'll send one
over. 
NNG Y Aloysius

04:08

Okay, sure, no problem. I think it should be completed within the next one or
two weeks, right? So I'll keep this open for now. 
MMuhamad Ridzuan Bin Baharudin

04:14

Yes. 
NNG Y Aloysius

04:15

Okay, thank you. 
MMuhamad Ridzuan Bin Baharudin

04:17

All right. 
NNG Y Aloysius

04:19

Okay, so for the rest of the documents here that were not especially on the
AutoFX and Daily Mandate, that will not be relevant for these two phase one
portfolios. But across the documents and letter which have been shared, if there
are any questions, you can let us know. Okay, that's the updates that we have
for legal documentation for fa. We have a workshop tomorrow, but I'll just go
through some of the key updates here and also if there are any questions, please
feel free to raise it up to us as we go down the points here. So for FA1, we
have received the FA launch form from Paqueso, so we are covered on this in
terms of pricing matrix. It also has been to paso. The item number three will be
the FA osl. 
NNG Y Aloysius

05:17

So this will be shared across by the end of this week. Okay, so Anusu, in terms
of the draft up, I think we are nearing completion, right? 
RRAJANTRA Anusyia

05:31

Yes, it's under review now, but some of the details in the FA OSL are still not
finalized because we are still in discussion. So we will put in a comment to be
confirmed. But so PASO can just review those which are already finalized and
then let us know if they have any comments as well. 
NNG Y Aloysius

05:50

Yeah, okay, sounds like good plan. Thank you. FA2 would be the test, sorry, the
sample fund reports that will be set up based on the September valuation report
data FM am. So I think this and also this should be ready by next week, right,
for Pakisto to review? 
RRAJANTRA Anusyia

06:17

Yes, it's currently under in progress but we do need some time because we have
to set up all the linkages with the reporting and all that for the test fund,
but it is underway. 
MMuhamad Ridzuan Bin Baharudin

06:29

Yeah, okay, sure. 
NNG Y Aloysius

06:31

Thank you. All right. On the fee matrix that will be finalized once the fee
schedule is executed. So once it has been finalized and the female tricks is
updated, you'll be shared across with paso. That will be in early December. So
item number four will be the whether this will be a take on or continuation. So
we have confirmed it will be a continuation. There are some questions raised in
the email which will be covered in tomorrow's workshop. So for this part I will
not go into detail but if there are any questions, please do let me
know. Okay. Moved out to FA5 results last week. We have discussed about the last
point here in terms of the capital injection withdrawal instructions. 
NNG Y Aloysius

07:29

So we have left our conversations off with that per case will be will send our
FA team a notification on if there are any capital injection or withdrawal of
these two funds via email. So just on this point do you have any questions or
further clarifications required? 
MMuhamad Ridzuan Bin Baharudin

07:53

I think no, we are ok. Ok that's great. 
NNG Y Aloysius

07:57

OK so I'll update this point here. I will keep it open because there are a few
points here that may be relevant after we have provided the test files. But in
terms of action point that's done for this week. I'll move down to FA6. This
will also be discussed in the call tomorrow. But I think I just wanted to
quickly touch on the first point which has been discussed last week in terms of
the reflection of the trades on a lot by lot basis. So Anu, do we have any
updates on this particular point here. 
RRAJANTRA Anusyia

08:38

In relation to the bond? 
NNG Y Aloysius

08:39

Right bond and also we wanted to correct. I think Pakeso has also wanted to
check if it's possible to apply to the equity as well. 
RRAJANTRA Anusyia

08:50

I think there was a further update in the email that Rizwan sent yesterday as
well. So maybe we could discuss it together tomorrow. 
NNG Y Aloysius

08:59

Tomorrow. Okay, yeah sure. Thank you. All right, so I'll skip to the next point
FA7 and 8 that will be with the EFM so did not cover in this week's call
amortization methodology. I see that Yatu has shared across the formulas a
screenshot of the formula that is available in the amortization file which we
have shared previously. Maybe Wizuan or Hannah, do you have any questions on
these in terms of the calculation provided? 
HHana Binti Mohamed

09:39

No. 
MMuhamad Ridzuan Bin Baharudin

09:41

Okay. 
RRAJANTRA Anusyia

09:42

Just on this point Aloysius, I think previously Zai asked for a sample of the a
Malaysian bond security. 
MMuhamad Ridzuan Bin Baharudin

09:52

That's right. 
RRAJANTRA Anusyia

09:53

Yeah. So because we couldn't find any existing sample in the our portfolio so we
are doing a fresh test for this. So you just need some time to create that the
testing sample to be provided. 
HHana Binti Mohamed

10:12

Can you based on fixed income sample. Can you take one sample from Apima Fix
Income? 
RRAJANTRA Anusyia

10:20

Yes, yes Hannah, we also referred to the one that the report that yesterday
Rizwan has sent which is the Aham portfolio. So we are basing the test on that
sample now. 
NNG Y Aloysius

10:37

So Rizwan, I think we might have cut you off earlier. 
MMuhamad Ridzuan Bin Baharudin

10:42

Yeah okay, let's have a quick. 
MMuhamad Ridzuan Bin Baharudin

10:50

For. 
MMuhamad Ridzuan Bin Baharudin

10:50

The who explained that they using the price and yield formula based on Excel it
will be the same as in the system as well. 
RRAJANTRA Anusyia

11:03

Sorry, reason I didn't Catch the early. 
MMuhamad Ridzuan Bin Baharudin

11:05

Part, the amortization method that were used by sample sent by. I guess they're
using a GIG and price formula in Excel, right? 
RRAJANTRA Anusyia

11:19

Oh, yeah. So that is the. That is the formula used by the system. 
MMuhamad Ridzuan Bin Baharudin

11:24

Oh, you're using the system. Okay, no worries. Because usually, I mean from
our. Our own office system, we do have a calculation for amortization, but it
will be a bit different from Excel calculation. Usually they have their own more
complex calculation. You're using direct Excel formula. 
RRAJANTRA Anusyia

11:46

Correct. So the formula that YATU has given you, that is the formula that is
being used by our fund accounting system to calculate the amortization. 
NNG Y Aloysius

12:14

Do we have the calculation currently used by paso, the formula, amortization
calculation formula? 
RRAJANTRA Anusyia

12:28

Yes, I think Hannah did provide a file with the amortization calculation. 
MMuhamad Ridzuan Bin Baharudin

12:37

Okay. 
NNG Y Aloysius

12:39

Okay. 
RRAJANTRA Anusyia

12:40

So I think there may be a bit of differences, but so what YATU has provided the
sample is the sample of how the formula is based on how our fund accounting
system is actually doing the amortization calculation and adjustment. 
NNG Y Aloysius

13:09

Is this something you could check if our system formula can be applied in terms
of. 
MMuhamad Ridzuan Bin Baharudin

13:17

To. 
NNG Y Aloysius

13:18

For your. I mean, for your reporting or. 
MMuhamad Ridzuan Bin Baharudin

13:23

Do. 
NNG Y Aloysius

13:23

We need to do further review in terms of the. On the. On the requirement? 
MMuhamad Ridzuan Bin Baharudin

13:30

I think I may come back to discussion. 
MMuhamad Ridzuan Bin Baharudin

13:37

Okay, sure. 
NNG Y Aloysius

13:38

We can cover that tomorrow as well. 
MMuhamad Ridzuan Bin Baharudin

13:44

Okay. 
NNG Y Aloysius

13:45

All right, so I will move down to the next two. I believe these are also under
review. Right. Anu before we can come back in terms of the impairment and also
the additional reporting currency. 
RRAJANTRA Anusyia

14:01

Yes, correct. 
MMuhamad Ridzuan Bin Baharudin

14:03

Okay. 
NNG Y Aloysius

14:04

The trial balance will be covered as part of the test sample which we are
running and we are targeting to provide next week. So it should be available
FA13. We have also gone through in detail in our call last week. So just a quick
recap in terms of the reconciliation. The primary reconciliation will be done
will be our FA record against the custody bank statement. So after the month
end, the FAA team will also do a reconciliation against the EFM records. So this
will be the arrangement. And this arrangement will also be included in the FA
OSL reason. If this interest of this information, if it's sufficient, are we
good to close off this action point? 
MMuhamad Ridzuan Bin Baharudin

15:00

Yeah, it should be. Okay. 
MMuhamad Ridzuan Bin Baharudin

15:02

Okay. Okay. 
NNG Y Aloysius

15:05

I'll just put a note that these. In terms of the review or the wording of these
service. Right. You'll be covered in the. In the OSL on the first point here. So
if you read it back next time, you will know that. Oh, okay. So you can link
back to the OSL for this particular service. Right. So I'll just close this off
after this week for the next three items. This would come relevant when we are
nearer to the migration date. So I will not cover it today. That's most of the
updates that we have for fa. Of course some of the points which have been raised
will need to be discussed tomorrow. But in today's forum I believe these are the
updates that we could provide. 
NNG Y Aloysius

15:49

But if there are any questions on these or areas that we might not have covered
in today's call, please let me know before I move on to the next work
stream. Okay, I'll move on. For the IEDS workstream, there's a few
updates. Number one, because some of the items here we are past the due date,
but so I've actually refreshed the due date here without impacting the GO Live
date. So this has been pushed back. But in terms of the timeline that this needs
to be completed, we do really need to keep a close eye on those due dates as we
come to December. Okay, just on IADS 2 on the benchmark, the latest discussion
we had is on the authorization that we need the authorization of the EFM to
obtain these benchmark details from the index provider. 
NNG Y Aloysius

16:52

So back, I mean just this morning I've actually gone back to ahem, to with a
very specific ask to review again if you are able to provide us authorization to
share their entity name with the index provider to obtain these details. So I
have not heard back from them yet. But let's say if we have not received any
response today, we have a weekly call with the EFM tomorrow and that will be
covered as well. So we're coming on this point. Iads2 For Iads3, this would kick
start once we have obtained the authorization so we can start sourcing for this
benchmark and to confirm if there are any associated costs in obtaining these
details here. So the IEDS item number four, so it's the backloading of
historical data. 
NNG Y Aloysius

17:48

So it's just about doing the setup and once the internal setup is done, we can
actually start backloading this historical data into the system. So it's nothing
in terms of action that's required at this point of time. For IADS 5, we need to
kickstart the IADS setup soon. I think the process has been initiated. Some of
the setup is reliant on open points that have been discussed above. So with
those confirmed, we can start working towards finalizing all the setups required
before we do the testing itself. IEDS6 is part of the setup we will update as we
go along this project and also the setup for IDS5, we have received the user
list from Pageso and actually has passed it on to our internal team for
setup. So if there are any further information or clarification required, we'll
come back to Pageso. 
NNG Y Aloysius

18:49

But for this week there's two action points on this particular item here for
Iads 8 and 9. So that would come in handy when we start to do the testing and
also to nail down the delivery date of the first performance report. So that
will come in later, not in 2024, but perhaps in late January or early
February. So that's for performance reporting. I will go down next to compliance
reporting. So we are at a stage of ICR2. We have received vacation comments on
the draft plans. Perhaps. Krishna, do you. Is there anything that you might want
to cover or will we just go back on the comment shared by. Okay, so via email. 
SSpeaker 7

19:44

Yeah, we already. 
NNG Y Aloysius

19:48

Sorry, Krishna, I think the line is speaking. 
SSpeaker 7

19:52

Hello? 
NNG Y Aloysius

19:53

A bit soft. If you could switch up the volume. 
SSpeaker 7

20:03

Hello? 
MMuhamad Ridzuan Bin Baharudin

20:04

Okay. 
NNG Y Aloysius

20:05

Hello? 
MMuhamad Ridzuan Bin Baharudin

20:06

Yep. 
SSpeaker 7

20:07

Okay, we already got the input from professor side. We already shared our team,
so implement the rules. So we are working internally with this. So some of the
PN17 companies queries. We already look into the website and we are working on
the implementation. Implementation now. 
MMuhamad Ridzuan Bin Baharudin

20:25

Okay, sure. 
NNG Y Aloysius

20:26

Would there be an updated draft which will be shared with Pakisu or actually
based on the latest comments. No. 
SSpeaker 7

20:34

If any queries we still need from the client side we will share. Otherwise we
will still go with drafting the controls. 
NNG Y Aloysius

20:43

Okay, sure. 
MMuhamad Ridzuan Bin Baharudin

20:44

Okay. 
NNG Y Aloysius

20:45

So I guess we are still at this stage. We can close at this point because review
is still ongoing, especially on also on the licensing part. So I'll get this
open. But maybe next week you could update us on the progress of the setup or
especially on the draft control plan if there are any further clarification
required. 
SSpeaker 7

21:02

Sure. 
NNG Y Aloysius

21:03

Okay, thank you. All right, next would be the compliance start date. So that's
after all the setups are done and also the testing has been completed. So we'll
come into this once the setup is completed. The same applies for the control
testing and also the sharing of the testing results. So that will come at a
later time. Okay, that's the update that we have for compliance reporting. I'll
go down to GC setup. So there's quite a good progress on this over the last week
in terms of the aof. The AOF has been finalized. It can be accepted for both
step one and two forms. Result on DI. Actually we put in the due date here on
the 2nd of December, but if you're able to execute this early. 
NNG Y Aloysius

21:51

That will also be good because we can actually kickstart the account opening
process, especially on the technical setup on our end. Yeah, so I just wanted to
check in with you. I know the legal documents may be still pending your legal
feedback for the final sign off. But for the GC account opening form, is it
possible for us to receive the executed copies earlier? 
MMuhamad Ridzuan Bin Baharudin

22:22

Yeah, yeah, I think it should be. Okay now just a final level of. 
MMuhamad Ridzuan Bin Baharudin

22:29

Okay, great, thanks. 
NNG Y Aloysius

22:31

Yeah, I know that there's a feedback in terms of the market documentation so
we'll come back on that comment. Jay, if you are on the line. Yes Jay, just on
the market documentation. Right on point number 10 especially have you obtained
our subcar student feedback on the. On the query not at the license. 
MMuhamad Ridzuan Bin Baharudin

22:53

I will give you by today. 
NNG Y Aloysius

22:55

Okay, perfect, thanks. Okay, thank you. It's on the market document for the
proxy voting agreement. It's also due on 2nd December as part of the legal
documentation. So if you have any questions on these resources, please do let us
know. Okay, so I will move down to GC009 in terms of a secondary instruction
mode. So I've spoken to Kim Thien this morning. I know there are some issues in
sending out the fax instruction to our toll free line. So I think we are
reviewing with our IT team to ascertain if there are any number prefix that
needs to be included above the toll free number. So we'll come back once we have
finalized this review and then we can resume the fax test. So apart from that I
think we are good to go. Yeah, the next one will be on the callback list. 
NNG Y Aloysius

24:07

Which one is this available? I think since we are finalizing the fax
instruction, we could also have the callback lease to actually do a quick test
against the fax instruction which will be instructed to us. 
MMuhamad Ridzuan Bin Baharudin

24:26

Yeah, I think it's something that we can work out with money. 
MMuhamad Ridzuan Bin Baharudin

24:32

Okay. 
NNG Y Aloysius

24:33

All right, thank you. And for GC011 it's on IAM guideline that will be with the
EFM. So currently we have not filed finalize this yet because there are some
questions on the Malaysia Ringgate cash cutoff type. So we will finalize this
query with them and to obtain their sign off so we can close off this point
here. GC market documentation. We have covered that earlier just on the next two
items here. Researchers on the half yearly reporting. I think in the
conversation with Tracy last week she has mentioned the difference between a
trustee model and also the direct custodian model that Pakisto have with us in
terms of this service. There was some takeaway points for Paqueto to review if
SE reporting is still required for a direct custodian service model. I'm not too
sure whether. Have you obtained a response on that? 
MMuhamad Ridzuan Bin Baharudin

25:41

Yeah, I think we're still reviewing it. Finalizing whether you need I mean the
president to submit. I think take away from it is we want to have a very hard
proof on that. Okay. Say responsible. I think we want to get the hard proof on
and avoid and that can see from the site this is not required. 
MMuhamad Ridzuan Bin Baharudin

26:09

Okay. 
NNG Y Aloysius

26:09

Okay. 
MMuhamad Ridzuan Bin Baharudin

26:10

Okay. Sure. Okay. 
NNG Y Aloysius

26:12

So I'll just keep this open for fixed deposit. I also obtained the update from
Tracy that she has mentioned that this will not the EFM will need to do the
account opening themselves. So before I'll call with the EFM tomorrow. Can I
just check in with you if they are. If they are aware that they need to do this
fix setup on their end? 
MMuhamad Ridzuan Bin Baharudin

26:39

I think other than Aham, I think not yet, but I tried to talk to them. 
MMuhamad Ridzuan Bin Baharudin

26:48

Okay. 
NNG Y Aloysius

26:49

So Aham knows that they will need to start doing the fixed deposit account setup
with their counterparties prior to the migration of assets. Okay. Okay. 
MMuhamad Ridzuan Bin Baharudin

27:06

Okay. 
NNG Y Aloysius

27:06

Never mind. I think we can take this separately after today's call. I know these
two have a lot of conversations that are ongoing. So we can align after today's
call for the rest text matrix SSI migration that will come in after the account
opening. So we need not cover this for today's call. That's for GC and for
NeoLink. We have received the updated Neolink form today for both subscription
form as well as new link external user form. So we will review and also share
any comments or any updates if required. So I think if there are any it will be
minimum but I will follow up with Roshini and I'll update yourself. Rizwan, I've
updated. I've added in an additional action point here. 
NNG Y Aloysius

27:57

NL008 I know that you have requested for a transaction report and whether the
transaction report BNPP transaction report will cover some of the few
information which you require. So I have obtained some feedback but especially
on the reflection of trade fees that is that I'm still reviewing the internal
team. So I'll come back to you as soon as I've closed up that last point
here. But I'll keep it as an action point here so you can actually have it
reviewed internally and also with your I think IT provider in actually
generation of some of the backend data that you require. Okay, so this just one
additional Items I've added this week, new link training. 
NNG Y Aloysius

28:42

The next one will come in after nearer to the Go Live date when accounts when so
that we can consolidate the rebooting queries and also to refresh the training
that we had during the initial onboarding stage. Okay, so that's for GC for
interest of Project GO Live. Just item to be one item to be discussed is on the
building setup. So we also have discussed quite extensively in terms of the
options available in applying the invoice charges. It can be debited from your
Wingate account. That will cover so that our FA team can actually take those
into account as part of their nav calculation. So Wizuan or Zia? I believe
there's no further questions. Right. You could just confirm back to us that this
will be your preferred billing mode. 
MMuhamad Ridzuan Bin Baharudin

29:39

Yeah, I think. Can we see the workflow for the billing setup from the. From the
moment you debit, if is that possible? From. We can review whether that's from
our side, whether that is aligned with our internal policy for the payment. 
NNG Y Aloysius

30:04

Clarence, is this something you. You could have to share? 
MMuhamad Ridzuan Bin Baharudin

30:09

Hi. 
CCHENG Clarence

30:11

Yeah, yeah, sorry. When you mean the workflow, right? Do you mean, for example,
when we debit accounts like the workflow of the invoice being sent, the accounts
being debited and reflected in, let's say, new link and then you can see the
value date and all those other information. Is that the workflow you're
referring to? 
MMuhamad Ridzuan Bin Baharudin

30:32

Yeah, yeah. 
MMuhamad Ridzuan Bin Baharudin

30:33

Correct. 
MMuhamad Ridzuan Bin Baharudin

30:35

We just want to see is there any possibility that our internal intervention need
to be done somewhere in the workflow? Just for our internal review, I think. 
CCHENG Clarence

30:45

We can give a description of the workflow for the invoice. We can also provide
you a draft invoice. But on an example of, let's say you viewing the debit in
your Neolink account. 
MMuhamad Ridzuan Bin Baharudin

30:58

I don't think we have an example of that. 
MMuhamad Ridzuan Bin Baharudin

31:01

Yep. 
MMuhamad Ridzuan Bin Baharudin

31:01

No, just a description. Just a description. And maybe the flow chat something. 
CCHENG Clarence

31:06

Okay, that's fine. 
NNG Y Aloysius

31:07

That's fine. 
MMuhamad Ridzuan Bin Baharudin

31:07

Yeah, we can do that. 
NNG Y Aloysius

31:10

Thanks, Clarence. I think we can set it. We can share the workflow based on the
preferred mode of billing. That means the invoice will reflect both USD and also
the MYR equivalent. And also the last part will be the debiting of the. The auto
debiting of the charges in Ringgit in the GC account. So I think as long as we
cover these three, that should actually cover most part of the workflow that we
have. 
MMuhamad Ridzuan Bin Baharudin

31:49

Is that okay, Clarence? 
CCHENG Clarence

31:52

Oh, yes. I didn't know you were confirming. Yes, yes, that's fine. 
MMuhamad Ridzuan Bin Baharudin

31:55

Okay, sure. Thanks. Okay. 
NNG Y Aloysius

31:59

Right, so these are all the updates that we have for this week. Rizwan Zi or POC
team, are there any questions that you might have that we might not have covered
during the call or through this action log updates? Okay, I think on BNPP's end
we are covered as well. Or are there any other questions from anyone? 
CCHUA K Jeremy

32:37

Sorry, Aloysius, I wanted to check with Percasso on something, so. Hi Rizwan,
this is actually regarding one of the recent developments of the onboarding
process for one of the efm, the Alliance Bernstein. So basically for them they
have submitted 101 users for the authorized signatory list, the ASL. So because
of that, right. It might impact the KYC onboarding flow. Because were checking
with internally and Kelvin from the KYC team mentioned that with the large
number of users in the asl, the screening process may heavily impact the
omnibotting process. So usually two to three weeks. Right now it will be
estimated seven weeks since all the potential hits during the screening will
have to be addressed by the EFM. So just for comparison for AHAM, they actually
submitted 15 names for their ESL. So because of that. 
MMuhamad Ridzuan Bin Baharudin

33:33

Right. 
CCHUA K Jeremy

33:33

Can we ask if Potasso can discuss this matter with Alliance Bernstein to see if
they can reduce the number of users for their asl? 
MMuhamad Ridzuan Bin Baharudin

33:50

Okay, I think what would be the preferable number from your side? 
CCHUA K Jeremy

33:58

There is no preferred number, but I think average maybe 20 to 30. 
MMuhamad Ridzuan Bin Baharudin

34:06

Okay. For now it's 70. Right. 
CCHUA K Jeremy

34:08

101 decimeter. So it's. 
MMuhamad Ridzuan Bin Baharudin

34:11

So you want to. 
MMuhamad Ridzuan Bin Baharudin

34:12

I mean reduce to 20. 
CCHUA K Jeremy

34:16

Yeah, preferably. Because if not the. The burden on the KYC team may be a bit
heavy. 
MMuhamad Ridzuan Bin Baharudin

34:21

Correct? 
CCHUA K Jeremy

34:21

Yes. 
MMuhamad Ridzuan Bin Baharudin

34:22

Okay. 
MMuhamad Ridzuan Bin Baharudin

34:22

Okay. Can you drop your mental earth and then mentioning what's the preferable
characteristic that you want? Maybe not every one of them is maybe crucial for
the kyc. Right. Maybe they just a top management, CDA management. So not all the
staff or maybe not maybe. Or just related with the fund only. Maybe you can. 
CCHUA K Jeremy

34:46

Yeah, we will drop you an email on this. 
MMuhamad Ridzuan Bin Baharudin

34:49

Okay, thank you. 
CCHUA K Jeremy

34:50

Thank you. 
MMuhamad Ridzuan Bin Baharudin

34:52

Okay, thanks Jeremy. 
MMuhamad Ridzuan Bin Baharudin

34:54

Okay. On the kyc, the updated list that I sent, just additional name just
updates the list they just updated authorizing authorities. There would be no
impact on the process. Right. 
NNG Y Aloysius

35:10

For the Paquetzo lease. Right? 
MMuhamad Ridzuan Bin Baharudin

35:12

Yes, the one that I just sent. 
NNG Y Aloysius

35:14

So yeah, I checked with Kevin earlier. He mentioned that this will not impact
the KYC onboarding process, which we have already done. I think it's more like a
refresher or an update. So he will run this separately with you in terms of the
updated document. 
MMuhamad Ridzuan Bin Baharudin

35:41

Thank you. 
MMuhamad Ridzuan Bin Baharudin

35:42

All right, no problem. 
NNG Y Aloysius

35:44

We have covered most of the points here in today's call. I'll drop a note on the
post. Call notes. We will have a session tomorrow on the FAA workshop, but
between now and then, if there are any questions, please feel free to visit to
us. There's also one last update that I wanted to share, is that I'll be going
on a compliance leave starting next week, Anthony, which I've also included in
this call, and he has participated in our past call. He will be the covering
project manager for this onboarding for both PASO as well as for the efm. So
next week's session will be held by Anthony for this. For the remaining week,
I'll just do a handover. But. But feel free to let us know if you have any
questions. 
NNG Y Aloysius

36:27

And if there are any urgent questions, you can reach out to Anthony. 
MMuhamad Ridzuan Bin Baharudin

36:31

Okay. 
NNG Y Aloysius

36:33

All right, if that's all in terms of updates from me, if there's no further
questions, I will close off today's call. Thank you, everyone, for your time. 
MMuhamad Ridzuan Bin Baharudin

36:41

Thank you, everyone. 
MMuhamad Ridzuan Bin Baharudin

36:43

Thank you. 
MMuhamad Ridzuan Bin Baharudin

36:46

Thank you. 
00:0002:10:01
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