The Employees Trust Fund (TAP) through its Corporate Communications Department in collaboration with the Narcotics Control Bureau (NCB) held a Financial ExploRace 2010 competition yesterday at Sultan Omar Ali Saifuddien (SOAS) College.
The event was the highlight of the Financial Planning Month Roadshow, conducted throughout the month of March. The event was supported by Baiduri Bank.

The guest of honour was Joyce Chua Sing Yee, Acting Manager Executive 2 and Finance Manager of TAP. Also present was Pengiran Haji Zahari bin Pengiran Hj Ahmad, Principal of SOAS.

Financial ExploRace is a game which inculcates the concept of financial education. It is one of the methods by TAP to promote and educate the public, especially the students, on financial issues.

In his welcoming speech, Chairman Rosli bin Hj Haron, Acting Manager of TAP Corporate Communications Department, said, “TAP as an agency manages the trust fund of its members. TAP is also given the role to provide awareness on financial planning for the members and the public.

“In 2009, TAP moved further by introducing its new method of financial planning via a game known as Financial ExploRace. The game targets secondary-level students thereby promoting financial planning awareness.

“The game runs for two hours and it provides physical and mental challenges to participants, including teamwork, leadership, financial proposal and planning, decision-making and knowledge in financial planning.”

Nineteen colleges and schools participated in the event with each college or school sending four representatives from Year 7 and 11.

Each team is given tasks to earn money through work and enabling them to buy necessities.

The champion was Lambak Kiri Secondary School whose total savings and bonuses were the highest. They received a savings account worth $400 each from Baiduri Bank, medals, TAP money-box, TAP crystal, and certificate. Second place went to PIHM Secondary School who students received Baiduri Savings Account of $150 each, while the third place went to Sayyidina Husain Secondary School with each of its participants receiving $100.

The objectives of the game were to create awareness among students on the importance of financial planning, introduce the participants to concepts of savings, basic investment, prudent spending and sharing. The game also gave opportunities for teachers to exchange ideas and find new creative ways to incorporate financial education in the classroom and promote financial independence among youths.

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