Search results for: Teh Raihana Nazirah Roslan

Authors: Teh Raihana Nazirah Roslan, Siti Zulaiha Ibrahim, Sharmila Karim

Abstract:

A warrant is a financial contract that confers the right but not the obligation, to buy or sell a security at a certain price before expiration. The standard procedure to value equity warrants using call option pricing models such as the Black–Scholes model had been proven to contain many flaws, such as the assumption of constant interest rate and constant volatility. In fact, existing alternative models were found focusing more on demonstrating techniques for pricing, rather than empirical testing. Therefore, a mathematical model for pricing and analyzing equity warrants which comprises stochastic interest rate and stochastic volatility is essential to incorporate the dynamic relationships between the identified variables and illustrate the real market. Here, the aim is to develop dynamic pricing formulations for hybrid equity warrants by incorporating stochastic interest rates from the Cox-Ingersoll-Ross (CIR) model, along with stochastic volatility from the Heston model. The development of the model involves the derivations of stochastic differential equations that govern the model dynamics. The resulting equations which involve Cauchy problem and heat equations are then solved using partial differential equation approaches. The analytical pricing formulas obtained in this study comply with the form of analytical expressions embedded in the Black-Scholes model and other existing pricing models for equity warrants. This facilitates the practicality of this proposed formula for comparison purposes and further empirical study.

Keywords: Cox-Ingersoll-Ross model, equity warrants, Heston model, hybrid models, stochastic.

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Authors: Nazirah Zainul Abidin

Abstract:

The creation of a sustainable future depends on the knowledge and involvement of the people, as well as an understanding of the consequences of individual actions. Construction industry has long been associated with the detrimental effects to our mother earth. In Malaysia, the government, professional bodies and private companies are beginning to take heed in the necessity to reduce this environmental problem without restraining the need for development. This paper focuses on the actions undertaken by the Malaysian government, non-government organizations and construction players in promoting sustainability in construction. To ensure that those concerted efforts are not only skin deep in its impact, a survey was conducted to investigate the awareness of the developers regarding this issue and whether those developers has absorb the concept of sustainable construction in their current practices. The survey revealed that although the developers are aware of the rising issues on sustainability, little efforts are generated from them in implementing it. More effort is necessary to boost this application and further stimulate actions and strategies towards a sustainable built environment.

Keywords: Environmental sustainability, Malaysian construction industry, Malaysian developers, Sustainable construction.

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Authors: Nazirah Zainul Abidin, Nurul Zahirah Mokhtar Azizi

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Cost has always been the leading concern in green building development. The perception that construction cost for green building is higher than conventional buildings has only made the discussion of green building cost more difficult. Understanding the factors that will influence the cost of green construction is expected to shed light into what makes green construction more or at par with conventional projects, or perhaps, where cost can be optimised. This paper identifies the elements of cost before shifting the attention to the influencing factors. Findings from past studies uncovered various factors related to cost which are grouped into five focal themes i.e. awareness, knowledge, financial, technical, and government support. A conceptual framework is produced in a form of a flower diagram indicating the cost influencing factors of green building development. These factors were found to be both physical and non-physical aspects of a project. The framework provides ground for the next stage of research that is to further explore how these factors influence the project cost and decision making.

Keywords: Green project, factors influencing cost, hard cost, soft cost.

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Authors: Siti Raihana Hamzah

Abstract:

This paper elaborates risk shifting in debt financing system as the ultimate cause of the global financial crisis. In contrast, risk sharing in equity financing like sukuk helps the economic system to be better sustained. Nevertheless, some types of sukuk are haunted by the issue of imitation with bonds. The critics on the imitation issue not only have raised doubt on the ability of sukuk to diminish risk shifting behavior but also the ability of this Islamic financial instrument to ensure better future financial stability. Through that, this paper provides discussion on the possibility of sukuk to induce risk shifting and how equity financing may help sukuk to be free from risk shifting. This paper is important in the sense that sukuk receives a significant demand from investors throughout the world. For this instrument to be supportive in the future economic stability, the issue of imitation needs to be identified and addressed. Furthermore, critics cannot be focused on debts and its ability to gauge the financial flux but also to sukuk due to their structures similarity.

Keywords: Global financial crisis, debt, risk-shifting, risk sharing, equity, sukuk, bonds.

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Authors: Sharifah Nabihah Syed Jaafar, Umar Adli Amran, Rasidi Roslan, Chia Chin Hua, Sarani Zakaria

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Bio-composites derived from plant fiber and/or bioderived polymer, are likely more ecofriendly and demonstrate competitive performance with petroleum based composites. In this research, the bio phenol-formaldehyde (bio-PF) was used as a matrix and oil palm empty fruit bunch fiber (EFB) as reinforcement. The matrix was synthesized via liquefaction and condensation to enhance the combination of phenol and formaldehyde, during the process. Then, the bio-PF was mixed with different percentage of EFB (5%, 10%, 15% and 20%) and molded at 180oC. The samples that viewed under scanning electron microscopy (SEM) showed an excellent wettability and interaction between EFB and matrix. Samples of 10% EFB gave the optimum properties of impact and hardness meanwhile sample 15% of EFB gave the highest reading of flexural modulus (MOE) and flexural strength (MOR). For thermal stability analysis, it was found that the weight loss and the activation energy (Ea) of the bio-composites samples were decreased as the filler content increased.

Keywords: EFB, liquefaction, phenol formaldehyde, lignin.

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Authors: Siti Noorain Roslan, Siti Salmi Ghazali, Norfadhlina Muhamed Asli

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The volume of biosolids produced in Malaysia nowadays had increased proportionally to its population size. The end products from the waste treatments were mounting, thus inevitable that in the end the environment will be surrounded by the waste. This study was conducted to investigate the suitability of biosolids to be reused as fertilizer for non-food crop. By varying the concentration of biosolids applied onto the soil, growth of five ornamental plant samples were tested for eight consecutive weeks. The results show that the pH of the soil after the addition of biosolids ranges from 6.45 to 6.56 which is suitable for the plant growth. The soil samples that contains biosolid also show higher amount of macronutrients (N, P, K) and the heavy metals content are significantly increased in the plant however it does not exceed the guidelines drawn by the Environmental Protection Agency. It is also proven that there was only small significant different in the performance of plant growth between biosolids and commercial fertilizer. It can be seen that biosolids was able to perform just as well as commercial fertilizer.

Keywords: Biosolids, fertilizer, R. chinensis, waste sludge.

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Authors: Yasmin Yahya, Roslan Ismail, Samreth Vanna, Khorn Saret

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The study on the tree growth for four species groups of commercial timber in Koh Kong province, Cambodia-s tropical rainforest is described. The simulation for these four groups had been successfully developed in the 5-year interval through year-60. Data were obtained from twenty permanent sample plots in the duration of thirteen years. The aim for this study was to develop stand table simulation system of tree growth by the species group. There were five steps involved in the development of the tree growth simulation: aggregate the tree species into meaningful groups by using cluster analysis; allocate the trees in the diameter classes by the species group; observe the diameter movement of the species group. The diameter growth rate, mortality rate and recruitment rate were calculated by using some mathematical formula. Simulation equation had been created by combining those parameters. Result showed the dissimilarity of the diameter growth among species groups.

Keywords: cluster analysis, diameter growth, simulation

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Authors: Tan Soo Fun, Leau Yu Beng, Rozaini Roslan, Habeeb Saleh Habeeb

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The increasing development of wireless networks and the widespread popularity of handheld devices such as Personal Digital Assistants (PDAs), mobile phones and wireless tablets represents an incredible opportunity to enable mobile devices as a universal payment method, involving daily financial transactions. Unfortunately, some issues hampering the widespread acceptance of mobile payment such as accountability properties, privacy protection, limitation of wireless network and mobile device. Recently, many public-key cryptography based mobile payment protocol have been proposed. However, limited capabilities of mobile devices and wireless networks make these protocols are unsuitable for mobile network. Moreover, these protocols were designed to preserve traditional flow of payment data, which is vulnerable to attack and increase the user-s risk. In this paper, we propose a private mobile payment protocol which based on client centric model and by employing symmetric key operations. The proposed mobile payment protocol not only minimizes the computational operations and communication passes between the engaging parties, but also achieves a completely privacy protection for the payer. The future work will concentrate on improving the verification solution to support mobile user authentication and authorization for mobile payment transactions.

Keywords: Mobile Network Operator, Mobile payment protocol, Privacy, Symmetric key.

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Authors: Mohd Yussni Hashim, Mohd Nazrul Roslan, Azriszul Mohd Amin, Ahmad Mujahid Ahmad Zaidi, Saparudin Ariffin

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Environmental awareness and depletion of the petroleum resources are among vital factors that motivate a number of researchers to explore the potential of reusing natural fiber as an alternative composite material in industries such as packaging, automotive and building constructions. Natural fibers are available in abundance, low cost, lightweight polymer composite and most importance its biodegradability features, which often called “ecofriendly" materials. However, their applications are still limited due to several factors like moisture absorption, poor wettability and large scattering in mechanical properties. Among the main challenges on natural fibers reinforced matrices composite is their inclination to entangle and form fibers agglomerates during processing due to fiber-fiber interaction. This tends to prevent better dispersion of the fibers into the matrix, resulting in poor interfacial adhesion between the hydrophobic matrix and the hydrophilic reinforced natural fiber. Therefore, to overcome this challenge, fiber treatment process is one common alternative that can be use to modify the fiber surface topology by chemically, physically or mechanically technique. Nevertheless, this paper attempt to focus on the effect of mercerization treatment on mechanical properties enhancement of natural fiber reinforced composite or so-called bio composite. It specifically discussed on mercerization parameters, and natural fiber reinforced composite mechanical properties enhancement.

Keywords: Mercerization treatment, mechanical properties, natural fiber and bio composite

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Authors: Mohd Yussni Hashim, Mohd Nazrul Roslan, Shahruddin Mahzan @ Mohd Zin, Saparudin Ariffin

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Fiber cross sectional area value is a crucial factor in determining the strength properties of natural fiber. Furthermore, unlike synthetic fiber, a diameter and cross sectional area of natural fiber has a large variation along and between the fibers. This study aims to determine the main and interaction effects of alkali treatment conditions which influence kenaf bast fiber mean cross sectional area. Three alkali treatment conditions at two different levels were selected. The conditions setting were alkali concentrations at 2 and 10 w/v %; fiber immersed temperature at room temperature and 100⁰C; and fiber immersed duration for 30 and 480 minutes. Untreated kenaf fiber was used as a control unit. Kenaf bast fiber bundle mounting tab was prepared according to ASTM C1557-03. Cross sectional area was measured using a Leica video analyzer. The study result showed that kenaf fiber bundle mean cross sectional area was reduced 6.77% to 29.88% after alkali treatment. From analysis of variance, it shows that interaction of alkali concentration and immersed time has a higher magnitude at 0.1619 compared to alkali concentration and immersed temperature interaction which was 0.0896. For the main effect, alkali concentration factor contributes to the higher magnitude at 0.1372 which indicated are decrease pattern of variability when the level was change from lower to higher level. Then, it was followed by immersed temperature at 0.1261 and immersed time at 0.0696 magnitudes.

Keywords: Natural fiber, kenaf bast fiber bundles, alkali treatment, cross sectional area.

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Authors: PoiSim Khiew, WeeSiong Chiu, ThianKhoonTan, Shahidan Radiman, Roslan Abd-Shukor, Muhammad Azmi Abd-Hamid, ChinHua Chia

Abstract:

Magnetic and semiconductor nanomaterials exhibit novel magnetic and optical properties owing to their unique size and shape-dependent effects. With shrinking the size down to nanoscale region, various anomalous properties that normally not present in bulk start to dominate. Ability in harnessing of these anomalous properties for the design of various advance electronic devices is strictly dependent on synthetic strategies. Hence, current research has focused on developing a rational synthetic control to produce high quality nanocrystals by using organometallic approach to tune both size and shape of the nanomaterials. In order to elucidate the growth mechanism, transmission electron microscopy was employed as a powerful tool in performing real time-resolved morphologies and structural characterization of magnetic (Fe3O4) and semiconductor (ZnO) nanocrystals. The current synthetic approach is found able to produce nanostructures with well-defined shapes. We have found that oleic acid is an effective capping ligand in preparing oxide-based nanostructures without any agglomerations, even at high temperature. The oleate-based precursors and capping ligands are fatty acid compounds, which are respectively originated from natural palm oil with low toxicity. In comparison with other synthetic approaches in producing nanostructures, current synthetic method offers an effective route to produce oxide-based nanomaterials with well-defined shapes and good monodispersity. The nanocystals are well-separated with each other without any stacking effect. In addition, the as-synthesized nanopellets are stable in terms of chemically and physically if compared to those nanomaterials that are previous reported. Further development and extension of current synthetic strategy are being pursued to combine both of these materials into nanocomposite form that will be used as “smart magnetic nanophotocatalyst" for industry waste water treatment.

Keywords: Metal oxide nanomaterials, Nanophotocatalyst, Organometallic synthesis, Morphology Control

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