Starting this year, David Cheng, the Group Chairman of Genesis Business Group wanted to nurture Malaysian financial talent. With a team that has been with him for many years, he moved from Hong Kong to Kuala Lumpur and established the Genesis Business Academy.
It aims to trigger public interest through social community to develop everyone’s knowledge through education, change the society’s culture of investment, nurture more financial talents and change the fixed pattern of the Western monopoly on the financial market in Europe and United States, so that more people in the Southeast Asia can share the cake of the financial market.
As the Group Chairman of Genesis Business Group, he says, in response to the phenomenon,
“All fears stem from the shadow of the unknown. Master knowledge; my destiny doesn’t depend on the fate but myself!”
To do this, Genesis Business Academy first collaborated with Lincoln University College and signed a Memorandum of Understanding on 29 June 2019 to strengthen cooperation with the university, in providing financial knowledge to Malaysians.
According to Cheng, the signing of the MoU is a timely response to the challenges of the absence of a strong education, especially financial and economic knowledge in Malaysia.
“Malaysian financial talents are ephemeral, weak, and lacking the depth and breadth to weather the storms and uncertainties that are part and parcel of the real world trading.” he said during the MoU signing ceremony.
“I believe the platform created by this Memorandum of Understanding will further enhance the idea to build a Malaysia community that is creative, cohesive and resilient to propel ourselves to thrive and advance in the face of fierce competition from the world,” Cheng added.
To that end, the Academy offers a customised phased education programme focusing on three major sectors:
- Learning the specifics of graphical analysis and adjustment of trading strategies in gold and foreign exchange.
- Introducing the blockchain, a revolutionary technology that is poised to transform every industry, especially the financial industry and record-keeping functions.
- Leveraging marketing strategies and business game plans to reach visitors and turning them into customers.
The courses by Genesis Business Academy will be made in online, video, and interactive format, to make lessons available to the largest audience possible, across Southeast Asia. Over 50 students have already enrolled.
“I look forward to exploring more new ways to further develop this co-operative initiative and spirit and joining hands with Lincoln University College to build a strong alliance for the common good for our Malaysian community,” said Cheng.
Furthermore, the collaboration with Lincoln University College is just the first step for Genesis. Cheng states that there will be much more cooperation with local universities to come for the group.
Applying the Theory in a Practical Platform
Aside from education, Genesis Business Group also provides budding traders with the tools to effectively complete trades and earn money from them.
This is known as the Gold Tinkle Project. To truly challenge the Wall Street and City of London grip on trading, Gold Tinkle wants to start by providing customers with access to gold and foreign exchange trading.
To start off, Gold Tinkle is based on the copy trade system.
Copy trading is the term for when traders copy the trades of successful traders directly into their trading platform. In most cases, this copying is done via a social trading platform through which traders can assess their ‘leading traders’ and make informed decisions about who to copy.
Copy trading differs from “mirror trading” because mirror trading generally allows traders to copy specific trade strategies, rather than specific traders.
As one of the most popular trading modes in the market, copy trading is increasingly forcing out traditional trading and technical analysis-based methods. With sophisticated traders simply a touch away, traders can minimize any time lost or man-made mistakes. Under this mode, all an investor needs to do is to understand more of the trading records, choosing and copying his or her dedicated trader for each lot and enjoying the profit.
So for Gold Tinkle, Cheng says, “We provide a platform for traders and prospective traders who are ready to invest. We call this social trading. The platform enables free will pairing. Individuals get to pick their preferred trader. Leveraging on the Super Copy Trade System, when a transaction is completed, the platform will calculate the profit and loss at a fixed time.”
“The Super Copy Trade System is based on the [multi-account manager] MAM system. So for example, you invest in US$ 1,000. Your group is within the boundary of US$1,000-1,999, which is equivalent to 0.1 lot. So, whenever something happens, say maybe the market or trader is adversely affected, you’ll be protected because you’re in the grouping system, no matter what happens, it minimises your risk within the group,”
“This is of course unless the market has a fluctuation of more than 10,000 points up or down, which has never happened. To cut a long story short, it protects the capital for all our investors.” he said.
However, copy trading is still an unknown quantity in Malaysia.
“Malaysia still doesn’t know much about copy trading. Malaysians are unaware of the business opportunities as well as the risks involved,”
“Copy trading techniques at the early stages were commonly used in hedging strategies in financial institutions, where the risk controllers through their copy trading systems will trade the most profitable transactions using 1% of their customers’ orders to the market and earn profit from that,” Cheng said.
Through growing customers’ trading knowledge and providing them with the tools to start their own trading wealth, Gold Tinkle may one day become the next Wall Street in Asia, creating a third nexus to challenge the twin strongholds of New York and London.
Genesis Business Group isn’t stopping in Malaysia—there are exciting business expansion plans on the horizon.
“Malaysia is the starter hub for our Southeast Asian expansion. We chose Malaysia to be the entry point for this region thanks to its strategic position in the heart of ASEAN. Starting July, we will develop our own teams in Indonesia, Vietnam, China, Thailand, and Myanmar,” said Cheng.
The education model inked with Lincoln University College will be promoted abroad. These courses will be held all over Southeast Asia, and over 50 students have already enrolled in the July intake of the course—the first professional certification in technical analysis of gold and foreign exchange trading.
According to Cheng, this is a litmus test for the Genesis Business Academy. If the concept is sound, it will serve as a blueprint to host other courses throughout the region. From there, the Gold Tinkle project will also be expanded and offered to students who successfully complete the program.
From the nascent state of financial knowledge in Southeast Asia, it is clear that much more can be done to encourage the region’s potential to challenge the Western trading hegemony. With the tools provided by Genesis Business Group, it may just be possible.