Momentum strategy is applied in the stock market by buying past winners and selling past losers. In this study, the profitability of industry momentum strategy will be explored for Malaysian stock market. The motivation of this study arises from the notion that industry momentum is more significant than individual stocks momentum strategy. We use monthly data of 24 Malaysian industry sector indices from January 2008 to December 2012. The results indicate that industry momentum strategy is profitable in Malaysian market and most of the profit is derived from long position of winners while the losers do not contribute to the profitability of momentum strategy. Also, this study shows that systematic risk, measured by beta, cannot explain the industry momentum strategy in Malaysia. This evidence may suggest that Malaysian market is not weak form efficient as past prices could be utilized by investors to reap abnormal profit following industry momentum strategy.

Shariah compliant equity is a type of security that is permissible in Islam for investment purposes. Classification of Shariah compliant equity includes the process of screening firm’s nature of business and investment activities that are free from the element of riba, gharar and maysir. In Islamic perspective, risk management is highly encouraged. Therefore, investors are expected to accumulate wealth responsibly by applying risk management measures in their investments. In this study, 50 equities have been selected from stocks listed in FBM EMAS KLCI from January 2009 until June 2011. This study intends to enlighten investors in term of constructing optimal portfolio of diversified Shariah compliant equities in Malaysian market by applying Markowitz portfolio selection model. The aim of the model is to maximize portfolio’s return by specifying investor’s tolerable level of risk. Furthermore, this study extended the model with regards to transaction costs in measuring cost effectiveness of portfolio rebalancing. This study will benefit investors in selecting portfolio of Shariah compliant equities which are not only optimal but also cost effective. Results from the study shows that by applying Markowitz model, investor can achieve higher return at fixed level of tolerable risk as compared to naïve investment strategy. While the benefits of portfolio rebalancing outweigh the disadvantage when transaction cost is taken into consideration during portfolio rebalancing. The performance of portfolio by applying Markowitz model outperforms the FBM EMAS KLCI index. With this knowledge, Shariah compliant investors are capable to invest responsibly in managing their wealth. By applying risk management measure, Shariah compliant investor will become more confident investing in Shariah compliant equity portfolio to safeguard and accumulate wealth.

The objective of this study is to identify the availability of Nutrient Profiling (NP) models worldwide and discuss their application. This scoping review is based on the Preferred Reporting Items for Systematic Review and Meta-Analyses Extension for the Scoping Review (PRISMA-ScR) and the Arksey and O’Malley framework. Articles related to NP among adults published from 2012 to 2022, written in English, were retrieved from the Web of Science, Science Direct, Scopus, and Pubmed databases. Mendeley software was used for database acquisition and MS Excel for the syntesis process. Only 17 articles out of 2,019 article titles identified met the inclusion criteria for the review. This review discovers that the applications of NP in nutrition policies include food labelling, Front-Of-Pack (FOP), and regulations on food marketing, health, and nutrition. Fibre is the nutrient that needs to be included in the NP application compared to saturated fats, fatty acids, sodium, and total sugar. This scoping review demonstrates the scientific basis of the NP model’s development in public health policy, leading to advocacy and the recommendation of healthy diets.

Establishing optimal allocation for different stocks in a portfolio via modern portfolio theory is highly depended on the accuracy of the return and risk estimation. For retail investors, technological advancement has made it possible for them to apply thecomplex estimation procedure for decision making. Therefore, this study aims to assess the mean-variance Shariah-compliant portfolio performance with model-based return and risk estimation. The methodology adopted is based on the implementation of ARMA and GARCH model, focused on the daily stock prices from the year 2011 until 2018. Further, we used one-step-ahead forecast for the best ARMA-GARCH model as well as an arithmetic mean and variance estimation to prepare the composition of diversified portfolioweights for top 10 constituent companies listed in FBM Hijrah Shariah (FBMHS) Index. We also measure out of sample performance in a constructed portfolio using Sharpe, Treynor and Jensen’s measures. The result shows that the stock allocation for the model-based portfolio is less diversified as compared to the non-model-based portfolio. The composition of the model-based portfolio weight is capable of achieving high annual returns which can compensate for high risk. The out of sample portfolio performance of both techniques is capable to outperform the FBMHS Index. Keywords:Return Risk Estimation;Shariah-Compliant Portfolio;Model-Based Portfolio;Portfolio Performance

Malaysia’s economic growth has been rising steadily over the years and one of the main contributors is the insurance sector. The literature has recorded mixed findings on the relationship between insurance and economic growth. This paper examines the relationship between the insurance sector and economic growth in Malaysia over an extended period of 1990-2021. This paper uses three proxies for the insurance sector i.e. life insurance premiums, nonlife insurance premiums, and total insurance premiums. The Autoregressive-Distributed Lag (ARDL) and Error Correction Model (ECM) approaches are employed to achieve the objective. While controlling for foreign direct investment, export, and import, this paper found that there is a positive long-run relationship between non-life insurance premiums and economic growth. Conversely, a negative short-run relationship is observed between life insurance premiums and economic growth. The total insurance premium has a negative short-run relationship with economic growth yet is insignificant for the long-run. The non-life insurance sector has a larger contribution compared to life insurance on Malaysia's economic growth as the market depends more on capital formation and investments, particularly in infrastructure, real estate, and capital markets. The insurance sector provides financial expansion in terms of payment for protection which results in an economic boost.