Wira Dani, son of former Finance Minister Daim, declared a bankrupt

In a statement filed with the Singapore Exchange, Wira Dani(filepic) indicated that he intended to settle personal affairs following the court bankruptcy order, which he intends to resolve within the next 30 days.

PETALING JAYA: Datuk Md Wira Dani Abdul Daim, who just recently got appointed as Reliance Pacific Bhd executive director, has been declared a bankrupt by the high court of Singapore.

According to reports, the son of former finance minister Tun Daim Zainuddin failed to settle some S$1.65mil (RM4.9mil) in debts that he owed Maybank Kim Eng Securities.

Following the court order, Wira Dani stepped down as non-independent and non-executive director of Singapore-based gold company LionGold Corp Ltd.

He had also ceased to be the executive chairman of investment and investment advisory firm ISR Capital Ltd since Monday.

In a statement filed with the Singapore Exchange, Wira Dani indicated that he intended to settle personal affairs following the court bankruptcy order, which he intends to resolve within the next 30 days.

Maybank secured a high court judgment against Wira Dani in March to reclaim a debt of $2.459mil (RM7.3mil) that he owed.

This was said to have been borrowed by him to buy LionGold shares on a leveraged account.

Wira Dani, together with Daim’s wife Toh Puan Mahani Idris, emerged as substantial shareholders of Reliance Pacific, which operates the famous Avillion Hotel in Port Dickson, at end-July 2016 through their private vehicle Ibu Kota Developments Sdn Bhd.

Ibu Kota owns a 30.96% stake in the company that has extensive interest in the tourism, property development and hospitality sectors.

Wira Dani was named the executive director of Reliance Pacific on July 27.

At present, he is also a non-executive director of GCM Resources PLC, a company listed on the London Stock Exchange and chairman of Astute Capital Ltd, a company incorporated in the British Virgin Islands.

LionGold was among the three companies whose drastic decline in share prices in October 2013 wiped out some S$6.9bil of their market capitalisation in three days.

The event led to an official probe on suspected irregularities, and lawsuits were filed by various parties.

LionGold and the other two companies, namely Blumont Group and Asiasons Capital, claimed they were unaware of the reasons for the plunge of their shares.

LionGold’s market cap stood at S$26.9mil as of June 2015, compared with S$1.59bil at its peak in August 2013.

Wira Dani had reportedly agreed to pay the bank via instalments. However, by August 2014, he had repaid only S$100,000.

Maybank in April accepted the offer from his lawyer, Woo Tchi Chu, to settle the debt, with S$1mil to be paid in two tranches within the month and the rest by end-June.

Maybank’s Allen & Gledhill lawyer Vincent Leow had made clear that bankruptcy was an option in the event of a default by Wira Dani.

In the event, Maybank received only about S$835,950, leaving a shortfall of S$1.65mil and triggering the bankruptcy move.

Wira Dani is said to have property in Singapore, according to court documents filed.

Maybank refused to comment when contacted last night, citing client confidentiality.

- The Star/Asia News Network

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Critical time for DAP leader, Penang Chief Minister Lim Guan Eng

Fall from grace: Lim, who is facing two charges of corruption alongside businesswoman Phang (left), will continue as Chief Minister with the full support of his party. (Inset) The prosecution team is led by Attorney-General Tan Sri Mohamed Apandi Ali.

There has been widespread sympathy for Penang Chief Minister Lim Guan Eng but he is under pressure to walk the talk and take leave while he clears his name in court.

IT was almost 7pm but the sky was still bright when a convoy of cars emerged from the underground car park of Komtar, Penang.

The only hint that this was no ordinary caravan of vehicles was the flashing lights and siren from an accompanying police car.

The moment had finally come after weeks of speculation. Penang Chief Minister Lim Guan Eng had been arrested and was being escorted to the MACC headquarters to be charged in court the next morning.

It has been a spectacular fall from grace for the DAP leader who rose to power on an awesome wave of popular support and who is known as “Tokong” among the Penang people.

Lim has claimed trial to two charges, one of which pertains to using his position to benefit his wife Betty Chew and himself in the rezoning of a piece of land belonging to a private company known as Magnificent Emblem in 2014.

Another charge is related to his purchase of a bungalow from businesswoman Phang Li Koon a year later at below market value.

Phang, a mysterious figure until thrust into the media spotlight, was charged with abetment in the property transaction.

Gossip and speculation about the nature of the charges have been brewing among the cafe society but everything should be clearer when hearing begins towards the end of the year.

Lim is not the first political head of state to have waded into troubled waters.

Former Selangor mentri besar Dr Mohd Khir Toyo is now on parole after spending six months in jail for purchasing an under-valued “Balinese palace” from a company that had business links with the state government.

Another former Selangor mentri besar, Tan Sri Muhammad Muhammad Taib, also lost his job following the Australian Gold Coast affair that saw him charged with possessing undeclared foreign currency.

The late Datuk Seri Harun Idris was forced by Umno to resign in the 1970s after he was charged for corruption.

Lim is also not the first to resist taking a leave of absence after being charged in court.

Former Sabah chief minister Tan Sri Joseph Pairin Kitingan clung on after being charged for corruption. He was eventually found guilty but his penalty was not great enough to cost him his seat.

But Pairin’s time was old politics and this is supposed to be the era of new politics.

The DAP central executive committee has given Lim a ringing endorsement to stay on in his job on grounds that “there is no question of conflict of interest as Lim has no influence or control over the prosecution”.

It is only expected of DAP to stand by their top leader because if the top man falls, the party will become shaky.

But it also means that DAP is unable to walk the talk. The party is famous for asking others to step down over issues big and small but is unable to live up to the same principle when it involves one of their own. It will be hard for the party to judge others from now on.

It has put DAP figures like their Selangor chairman Tony Pua in an awkward situation. Shortly after the bungalow issue erupted, Pua had said there was no need for Lim to go on leave unless charges were brought against him.

He was quoted in a pro-Pakatan Harapan news portal as saying: “When charged, then (the person) should take time off.”

But legally speaking, the Chief Minister does not need to go on leave even with these kind of charges hanging over his head.

According to a Selangor judicial figure, forcing him out would be pre-judging him.

“He can still chair meetings, make decisions over land and development and sign documents. He can even go on with that tunnel thing.

“But having said that, a politician’s life is not only about legalities but also perception. He is representing a party that lectures others what to do. Can they still do that?” said the judicial figure.

Moreover, the Chief Minister’s focus, said the judicial figure, will now be divided between his case and running the state. There will be complications as the court case drags on.

Lim may not have influence or control over the prosecution but as the Chief Minister, he has control over the civil servants who may be called to testify in his case.

It will be awkward for potential witnesses who are his subordinates because not many people would be comfortable going to court to testify against their boss.

His presence would also bring uncertainty to the state and investors do not like uncertainty.

Still, it is his call and he has the full support of his party including that of party doyen Dr Chen Man Hin whose reputation is impeccable.

The charges against Lim are quite serious and it is only natural that he is doing what it takes to defend himself. Being Chief Minister will give him that much needed clout and back-up to face the complications ahead.

Besides, there is talk of new charges in the works related to the Taman Manggis land and also involving a company with links to “Miss Phang”, as she is known.

But there is also another side to the story why DAP is reluctant to have an acting Chief Minister take over from Lim.

Lim’s deputies are Deputy Chief Minister I Datuk Rashid Hasnon from PKR and Deputy Chief Minister II Dr P. Ramasamy from DAP.

Either one of them could act in Lim’s place if he goes on leave. But the sentiment in this Chinese-dominated party is that senior state executive council member Chow Kon Yeow should be the acting Chief Minister.

DAP would look terrible if Chow leap-frogs over the two deputies. It would only reinforce the perception that DAP is a Chinese chauvinist party.

However, if either Rashid or Dr Ramasamy takes over, the party’s right-wing Chinese base would be badly affected. Caught between the devil and the deep blue sea, DAP probably thought it would be better for Lim to remain at the top.

DAP leaders have slammed the charges as baseless and an attempt to topple a democratically elected leader. It is quite clear they intend to approach this as a political trial and to win over the court of public opinion.

A lot of Lim’s time will be spent convincing the public that he is innocent and a victim. Events like “Walk with Guan Eng” and “Session with the People” have been planned for today.

His supporters have tried to liken his dilemma to what Datuk Seri Anwar Ibrahim went through in 1998. It is not the best of comparisons given that Anwar was able to galvanise a whole generation of young Malays who flooded the streets in anger.

What DAP may have failed to take note of was that many Chinese intelligentsia have been wary of Lim’s leadership since the Mercedes-Benz episode. Lim had opted for a Mercedes S300L as his official car a mere three months after the state purchased a new fleet of Toyota Camry for the state leaders.

This was evident in comments by the Huazong chairman of Negri Sembilan, Lau Zhi Wen, who is as anti-Barisan Nasional as one gets and has often run down the 1MDB issue.

Lau’s comments in the wake of the court case have gone viral among the Chinese-speaking circle.

He recalled the early days when Lim flew economy class and provided hope for change and greater transparency. He said the people had longed for another Datuk Nik Abdul Aziz Nik Mat who was respected for his simple lifestyle.

But Lau said that Lim changed after winning by a bigger majority in 2013.

“Many said you grew arrogant, others still deify you. You changed cars, flew business class and bought a RM5mil bungalow for RM2.8mil,” he said.

Lau said he had high expectations of the Penang Chief Minister but would no longer speak up for him.

The Chinese vernacular press that would have once defended him to the hilt was also visibly neutral. The thing is Lim does not have as many friends in the Chinese media as when he started out as Chief Minister.

The Chinese vernacular media was instrumental in helping to propel DAP to power. They put Lim on a pedestal but now, eight years down the road, many of them have stories to tell about how they were treated by Lim and his staff and they are not pleasant stories.

The same goes for some of the lawyers watching the drama at the Penang courts on Thursday. A few years ago, they would have come out for him but on that day, their response was: “Let justice take its course.”

DAP is hopeful and confident that the court case will swing sympathy and support towards Lim and arrest the resurgence of support for Barisan.

They are painting their secretary-general as a victim of selective prosecution. Lim has also been trying to tug at the heartstrings with famous sayings that he would prefer to die standing than live on bended knees, and playing up his overnight detention at the MACC headquarters.

The court case proper has yet to start but the court of public opinion is already in session.



By Joceline Tan

Who's is who?

Judge: Judicial Commissioner Datuk Azmi Arifin

Accused: 1. Lim Guan Eng 2. Phang Li Koon

Prosecution:
1. Attorney-General Tan Sri Mohamed Apandi Ali 2. DPP Masri Mohd daud 3. DPP Mohd dusuki Mokhtar 4. DPP udiman lut Mohamed 5. DPP Mohd Ashrof Adrin Kamarul 6. DPP Mohd Zain Ibrahim 7. DPP Muhammad Fadzlan Mohd Noorbr

Lim Guan Eng’s counsel:
1. Gobind Singh Deo (lead) 2. Ramkarpal Singh 3. R.S.N Rayer 4. M. Kulasegaran 5. P. Subramaniam 6. M. Manoharanbr

Phang Li Koon’s counsel:
1. Datuk K. Kumaraendran (lead) 2. Dev Kumaraendran 3. Raj Shankar 4. Chetan Jethawanibr />

Smartphones going modular

A near-final prototype of Google’s Project Ara. – Photo : ©Google ATAP

There has been much talk of modular smartphones this spring, after LG released its G5 handset and Google presented a near-final version of its Project Ara.

Modular smartphones differ from regular mobiles thanks to their “building block” design, made up of various interchangeable modules containing different hardware components. These can be switched quickly and easily to boost performance or replace faulty parts.

The current wave of modular smartphones draws on a concept created by a Dutch designer, Dave Hakkens, whose Phonebloks mobile is based on a set of small modules (processor, hard disk, camera, etc.) that can be easily changed and updated.

Once assembled, they form a smartphone with varying levels of performance and functionality, a bit like a desktop PC. As well as making savings for users, a modular design can also help counter planned obsolescence in smartphones.

This idea inspired Google’s Advanced Technology and Projects group (ATAP), who went on to develop Project Ara. Initially presented as a similar project to Phonebloks, comprising almost as many modules as a smartphone has components, the handset evolved, little by little, into a slightly less ambitious prototype presented at the last Google I/O conference in Mountain View, California.

It now takes the form of a smartphone with just six interchangeable modules, including a second display, a camera, memory, a speaker, etc. The screen, processor and RAM are all grouped together in one core block that cannot be modified. A developers’ kit is due to be released in the fall ahead of a planned consumer launch in 2017.

Another smartphone based on the same idea hails from Finland. However, the PuzzlePhone hasn’t been the focus of anywhere near as much media attention as Google’s concept.

This modular mobile only has three interchangeable blocks: one for the display, another for the battery and one main system block housing the processor, memory and camera. It should go on sale before the end of 2016.

The only modular smartphone currently available to buy is the LG G5, unveiled at the 2016 Mobile World Congress in Barcelona, Spain, back in February.

This handset has a slide-out bottom for changing the battery in just a few seconds. As well as its removable battery, additional interchangeable elements can be added to the phone, such as camera and audio modules. The LG G5 is out now priced at around $650.

Check out Project Ara in this video below:



AFP - RelaxNews

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Investments to pour into Malaysia, Boston Scientific plant in Penang to be ready by 2017

Fruitful partnership: Lee receiving a souvenir from Boston Scientific executive vice-president of operations Ed Mackey during the ground-breaking ceremony of the company’s facility in the Batu Kawan Industrial estate. It is expected to be operational in the fourth quarter of 2017.

BATU KAWAN: Malaysia is targeting to attract RM40bil worth of investments from the manufacturing and services sectors this year.

Malaysian Investment Development Authority (Mida) chief executive officer Datuk Azman Mahmud said that of the RM40bil, about RM800mil would be for the medical device segment.

“For the first quarter of the year, we have approved RM651mil investments for the medical sector, compared to RM194.7mil achieved in the same period of 2015.

“The approved medical device investments would create 1,610 job opportunities,” he said.

Azman said this after the ground-breaking ceremony of Boston Scientific new plant at the Batu Kawan Industrial Estate.

The RM40bil investments would come mainly from the United States and Europe, according to Azman.

“We are now negotiating for these investments,” he added.

Deputy Minister of International Trade and Industry (Miti) Datuk Lee Chee Leong represented Minister Datuk Seri Mustapa Mohamed at the event to officiate the groundbreaking ceremony.

Lee also read out Mustapa’s speech.

In the speech, Mustapa said in 2015, the exports of medical devices increased by 15% to RM15.5bil from 2014.

“According to the National Export Council (NEC), revenues from the export of medical devices are projected to grow to RM26bil by 2020.

“In this regard, industry players in Malaysia will be able to enhance their exports by capitalising on the liberalisation of markets such as Asean, facilitating access to the region’s 620 million strong market,” Mustapa said. Also present at the event was Penang Chief Minister Lim Guan Eng.

Boston Scientific’s new medical device manufacturing plant, which will involve investments running more than hundreds of millions of ringgit, is scheduled to be operational in the fourth quarter of 2017.

By David Tan The Star/ANN

Boston Scientific plant in Penang to be ready by 2017 

New plant: Artist’s impression of the new Boston Scientific plant at Batu Kawan Industrial Park.

GEORGE TOWN: Boston Scientific’s new medical device manufacturing plant in Batu Kawan Industrial Park, which will involve investments running more than hundreds of millions of ringgit, will be operational in the fourth quarter of 2017.

Boston Scientific vice-president (operations) Dave Mitchell told StarBiz the group would move production equipment into the facility in the second quarter of 2017.

“The plant will be operational in the fourth quarter of 2017, and we expect to ship our first “Made-in-Malaysia” product before the end of 2017,” Mitchell said in an e-mail.

The construction of the facility will begin in the first half of 2016 and scheduled for completion in the second half of 2017.

Mitchell said the site and facility were designed to accommodate at least 10 years of growth, including new products, additional volume and added capabilities, which might include research and development (R&D) or distribution.

“We anticipate having more than 400 employees at the Penang site within four years of operation, with room to grow significantly beyond that.

“Initially we will focus on building manufacturing capability and capacity in the Penang facility.

“We have the space and ability for additional capabilities at the site, including both R&D and distribution,” he said.

On the outlook of the global medical device market, Mitchell said that according to research firm Euromonitor, in 2016 the medical device industry was expected to record strong growth of almost 6% to reach US$315bil.

“Unlike the traditional markets such as Western Europe and the US, the Asia-Pacific medical device market is projected to to grow and gain a wider market in 2016,” he said.

Boston Scientific was founded in 1979 and is the worldwide developer, manufacturer and marketer of medical devices.

Its products and technologies are used to diagnose or treat a wide range of medical conditions, including heart, digestive, pulmonary, vascular, urological, pelvic health, and chronic pain conditions.

The group has 23,000 employess in 40 countries.

By David Tan The Star/ANN

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Malaysia slides in global Corruption perception index

KUALA LUMPUR: Malaysia's ranking dropped four places in the Corruption Perceptions Index (CPI) last year.

The index, released by Transparency International, showed that Malaysia was ranked 54th out of 168 countries this year compared to 50th out of 175 countries last year.

Malaysia ranked 52 the previous year.

The CPI scores and ranks are determined by the perceived level of corruption in the country's public sector.

Transparency International-Malaysia president Datuk Akhbar Satar said Malaysia's position would be even worse if seven other countries were included in last year's evaluation as their scores were above Malaysia in 2014.

"Despite many steps implemented, the level of corruption experienced in Malaysia does not seem to be decreasing," he said.

Globally, Denmark received the highest rank with a score of 91 followed by Finland (90) and Sweden (89).

Malaysia slides four points down global corruption perception index

Issues surrounding 1Malaysia Development Berhad and the RM2.6bil donation were among reasons why Malaysia slipped four points down the global corruption perception index (CPI).

The survey of the CPI of 168 nations for 2015 revealed the country's score dropped from 52% to 50% compared to 2014 while its ranking slid from 50 to 54.

Transparency International Malaysia president Datuk Akhbar Satar said the recent controversy surrounding 1MDB and the RM2.6bil donations contributed to the drop.

"There were 175 countries that were surveyed last year.

"However, seven countries were not included in the survey which would have pushed our ranking down further," he said during the announcement of the global CPI

Among the nations that scored the top marks were Denmark (91%), Finland (90%), Sweden (89%), New Zealand (88%), Netherlands and Norway (87%).

Among the nations to score the lowest were Angola, South Sudan, Sudan, Afghanistan, North Korea and Somalia.

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MH370 families file biggest lawsuit in Malaysia

KUALA LUMPUR: Seventy-six next of kin of the passengers on board Flight MH370 have launched the biggest suit in the courts here aga...

MH370 families file biggest lawsuit in Malaysia

KUALA LUMPUR: Seventy-six next of kin of the passengers on board Flight MH370 have launched the biggest suit in the courts here against Malaysian Airline System Bhd and four others over the plane’s disappearance.

With the deadlines to do so up by today, the group – made up of 66 Chinese nationals, eight Indians and two Americans – filed the suit last Thursday, naming MAS, Malaysia Airline Bhd (MAB), Department of Civil Aviation (DCA) director-general, Royal Malaysian Air Force (RMAF) and the Government as defendants.

They are claiming for negligence, breach of contract, breach of statutory duty and breach of Montreal Convention against MAS

Lawyer N.Ganesan representing Indian, Chinese and American families said this is the biggest lawsuit against MAS in Malaysia as it involves a large number of families as plaintiffs.

In the statement of claim filed last Thursday, the families alleged that the plane’s disappearance on 8 March 2014 was caused by MAS’ negligence and the national carrier had breached the Montreal Convention by causing the injuries and death of all 239 passengers and crew..

Besides MAS, the families also named the director-general of the Department of Civil Aviation (DCA), Royal Malaysian Air Force (RMAF), and the government.

They claimed that DCA, RMAF and the government had conspired with MAS in conducting the investigation in a “grossly negligent manner” to delay the search, causing the death of all the passengers and crew.

They also contended the government and MAS had acted fraudulently and in a dishonest manner by hiding information about MH370’s disappearance from the public, and the families of passengers and crew.

The 76 next of kin are seeking damages and losses they suffered after their loved ones went missing.

“The families opted to file the lawsuit here because they have confidence in our court,” said Ganesan when met at the High Court here.

He also pleaded with the government not to move to strike out the lawsuit.

“This lawsuit deserves a day in court, and all the families deserve a fair trial,” he said.

When asked if the families were given consent by the MAS administrator under the MAS Act to initiate the lawsuit, the lawyer said they were denied consent. “They had previously said in the media that they would act in ‘good faith’ to determine fair and equitable compensation.”

“What they said was they were inviting next of kin to initiate lawsuits against them.”

Ganesan disclosed that an American law firm, Hod Hurst Orseck, will be joining the families’ legal team.

“They are the experts in civil aviation. We will be having the firm’s partners, Steven Marks and Roy Altman with me and lawyer Tommy Thomas.”

“When necessary, we will be filing for leave to the court for them to be conducting the trial,” he said.

Last week, 12 families of passengers from Malaysia, Ukraine, Russia and China sued MAS and the government for damages, shortly before the two years deadline for initiating a civil suit under the Montreal Convention.

Sources: The Star news and Free Malaysia Today

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MH370 families file biggest lawsuit in Malaysia

KUALA LUMPUR: Seventy-six next of kin of the passengers on board Flight MH370 have launched the biggest suit in the courts here against Malaysian Airline System Bhd and four others over the plane’s disappearance.

With the deadlines to do so up by today, the group – made up of 66 Chinese nationals, eight Indians and two Americans – filed the suit last Thursday, naming MAS, Malaysia Airline Bhd (MAB), Department of Civil Aviation (DCA) director-general, Royal Malaysian Air Force (RMAF) and the Government as defendants.

They are claiming for negligence, breach of contract, breach of statutory duty and breach of Montreal Convention against MAS

Lawyer N.Ganesan representing Indian, Chinese and American families said this is the biggest lawsuit against MAS in Malaysia as it involves a large number of families as plaintiffs.

In the statement of claim filed last Thursday, the families alleged that the plane’s disappearance on 8 March 2014 was caused by MAS’ negligence and the national carrier had breached the Montreal Convention by causing the injuries and death of all 239 passengers and crew..

Besides MAS, the families also named the director-general of the Department of Civil Aviation (DCA), Royal Malaysian Air Force (RMAF), and the government.

They claimed that DCA, RMAF and the government had conspired with MAS in conducting the investigation in a “grossly negligent manner” to delay the search, causing the death of all the passengers and crew.

They also contended the government and MAS had acted fraudulently and in a dishonest manner by hiding information about MH370’s disappearance from the public, and the families of passengers and crew.

The 76 next of kin are seeking damages and losses they suffered after their loved ones went missing.

“The families opted to file the lawsuit here because they have confidence in our court,” said Ganesan when met at the High Court here.

He also pleaded with the government not to move to strike out the lawsuit.

“This lawsuit deserves a day in court, and all the families deserve a fair trial,” he said.

When asked if the families were given consent by the MAS administrator under the MAS Act to initiate the lawsuit, the lawyer said they were denied consent. “They had previously said in the media that they would act in ‘good faith’ to determine fair and equitable compensation.”

“What they said was they were inviting next of kin to initiate lawsuits against them.”

Ganesan disclosed that an American law firm, Hod Hurst Orseck, will be joining the families’ legal team.

“They are the experts in civil aviation. We will be having the firm’s partners, Steven Marks and Roy Altman with me and lawyer Tommy Thomas.”

“When necessary, we will be filing for leave to the court for them to be conducting the trial,” he said.

Last week, 12 families of passengers from Malaysia, Ukraine, Russia and China sued MAS and the government for damages, shortly before the two years deadline for initiating a civil suit under the Montreal Convention.

Sources: The Star news and Free Malaysia Today

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Information is power, overloaded, who and where can we trust?

A global survey gauging trust in society finds that people of a feather really do flock together.

THE person you see in the mirror is the most trusted.”

No, that is not a self-help mantra or nostalgia for Michael Jackson’s old hit Man in the Mirror.

Rather, as the 2016 Edelman Trust Barometer reveals, that is a common belief in the world when it comes to trust.

People now are increasingly reliant on a “person like yourself” (rising 6% in trust) more than the “leaders” of society like CEOs, government officials, technical experts or even academic experts, according to global communications firm Edelman’s annual survey that measures trust levels in the world.

Says Edelman Malaysia managing director Robert Kay, it reflects the way people in Malaysia are increasingly sharing and weighing information and opinions online.

“When it comes to information on social networking sites, content sharing sites and online-only information, Malaysians trust friends and families more at 74% compared to a company CEO at 57% or elected officials at 53%,” shares Kay at the launch of the Barometer in Kuala Lumpur last Tuesday.

For its fifth survey in Malaysia, Edelman polled 1,350 Malaysians online from October to November last year.

What some might find surprising is that in today’s celebrity-obsessed world, online personalities rake in only 45% “believers”, while celebrities rank last in their trustworthiness at 30%.

Interestingly, Malaysians’ overall trust in online content, specifically that shared on social media has dipped seven points to 42%.

Kay points to the rampant sharing of misinformation online in the past year as the main reason.

Consequently, search engines hold their lead as the most trusted source for information at 66%, he adds, as people feel they have more control over what they read and see.

The rise in peer-to-peer trust inevitably coincides with the decline in public faith in public institutions and the business world.

Faith in the press among the “informed public”, however, has jumped 13% – from 46% last year to 59% this year.

Asked how much they trust the media – on a scale of zero to nine – to do the right thing, Malaysian citizens say they have a lot more faith in the press than before.

This, says Edelman, puts Malaysia’s more informed citizens’ trust in media at the same level as the elite of the United States.

“Malaysia has one of the biggest rises in media trust among the informed public globally, possibly due to the constant coverage of alleged corruption at 1MDB,” Kay notes, stressing that it is crucial for the media to continue pursuing rigorous, balanced and transparent reporting to maintain credibility.

While the survey did not distinguish between trust in local and international media, the trust in the media in Asia highlights the perceived role of the media in this region, Edelman Asia Pacific, Middle East & Africa CEO David Brain reportedly said in Mumbrella Asia, a discussion site on the region’s media.

“The media – through Western eyes – is expected to keep politicians to account, but in Asian countries such as Singapore and Malaysia, there is ‘a social contract that the role of the media is about nation building’, and less about revealing the truth,” Brain had explained.

In a panel discussion on the Barometer results, The Malaysian Insider CEO Jahabar Sadiq points out that even as trust in business captains and political leaders fell, those who are perceived to be critical and caring of society and are vocal on social media, such as CIMB group chairman Datuk Seri Nazir Razak and former Cabinet minister Tan Sri Rafidah Aziz, are deemed as “trustworthy”.

Comparing Malaysia to Britain and the United States, Umno Youth exco member Shahril Hamdan suggests the dip in public trust towards the government is a natural development as the nation matures.

“As democracy matures, the cynicism level of people toward the government increases.

“Regardless of how the government communicates or performs, people will put less trust in the government and its leaders.”

Maxis Malaysia Head of Consumer Business Dushyanthan Vathiyanathan believes that it is time for public institutions and the business sector to transform and engage more with people.

“People now are interested in knowing what is happening and not in what you tell them.

By Hariati Azizan The Star/Asia News Network

“You have to be transparent with them and inform them of anything and everything. That’s because now they have information and do their checks.”

Related:

Panel Discussion of the 2016 Edelman Trust Barometer for Malaysia



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Journey To The West: More Monkey business; Monkey do, Monkey don't

 

 No, I don’t have a daughter for you to marry and we’re not going on a road trip to hand out wedding invitations. this isn’t that kind of Journey.’- Photos: GSC Movies 

Journey To The West gets a slightly Westernised treatment this time around, and turns out better than the first movie.

The Monkey King 2 Director: Soi Cheang Cast: Aaron Kwok, Gong Li, William Feng, Xiao Shenyang, Chung Him Law, Kelly Chen

CGI- heavy blockbusters from China, Hong Kong, India, or any other Asian countries for that matter – except for maybe Japan and South Korea – have always been hit- and- miss affairs.

Despite scoring US$ 168mil in China alone, there’s no denying that 2014’ s The Monkey King was plagued by cheap- looking and even just plain bad CGI and visual effects, not to mention a slapdash narrative that barely made sense despite being based on something as familiar as Wu Cheng’en’s classic novel Journey To The West.

Returning to the director’s seat for this sequel, up- and- coming genre whiz Soi Cheang ( of cult hits like Motorway, Accident and Dog Bite Dog) again directs this one without any of the cool edge and personality that made him so beloved by Hong Kong genre fans across the globe, but makes amends for the many sins of The Monkey King.

Probably because The Monkey King 2 concentrates on the more familiar chapters in Journey To The West, scriptwriters Ran Ping, Ran Jianan, Elvis Man and Yin Yiyi have kept things simple, linear and relatable, concentrating on the push and pull between the personalities of main characters Sun Wukong, aka the Monkey King ( Aaron Kwok, taking over from Donnie Yen) and young monk Xuanzang ( William Feng), to generate drama and emotion.

After 500 years of imprisonment beneath Five Element Mountain, Wukong is accidentally freed by Xuanzang and is then tasked by the Goddess Guanyin ( Kelly Chen) to escort the monk on his journey West to retrieve some ancient sutras.

The impetuous, impulsive Wukong and calm, benevolent Xuanzang’s contrasting personalities are severely tested when Wukong’s “kill first, ask questions later” approach and Xuanzang’s “enlighten instead of killing” philosophy clash almost every step of the way as they meet all kinds of demons, dangers and challenges.

Also joining them on their journey are Wujing ( Chung Him Law) and the gluttonous, horny halfman/ half- pig Baije ( Xiao Shenyang). Because this sequel is obviously set on Earth instead of the heavenly settings of the first movie, the use of real locations here helps immeasurably in making the CGI and VFX look much better and more believable.

There’s even an obvious attempt to make the fantastical imagery slightly less Chinese and more Western- friendly, with one of the kingdoms they visit looking more like something out of The Lord Of The Rings or Game Of Thrones rather than Legend Of Zu.

This is even more apparent in their approach to the villain of the piece, the White Bone Spirit Baigujing, played by a radiant and show- stealing Gong Li, whose outfits and character design will no doubt evoke memories of Angelina Jolie in Maleficent and Charlize Theron in Snow White & The Huntsman. Even her back story echoes that of Maleficent, in which an innocent young woman is driven to evil because of others’ wrongdoings.

Soi Cheang even gets the humour right this time, thanks to the absurd combination of Aaron Kwok’s slightly more macho approach to playing Wukong and the general monkey business that monkeys get up to, not to mention Baije’s antics whenever he comes across women and food ( yes, in that order).

Ultimately though, these are still very minor updates to a story that’s been told countless times, and it certainly doesn’t come anywhere near the bold approach of crowd favorites like Jeff Lau’s A Chinese Odyssey movies or even last year’s animated hit The Monkey King: Hero Is Back.

But as a Chinese New Year holiday blockbuster to bring the whole family to, it’s done more than well enough to do even better at the box- office than The Monkey King. It is, after all, the better movie, and definitely an entertaining and enthusiastic enough welcome to the Year of the Monkey. Review by Aidil Rusli The Star/Asia News Network

The ‘Monkey Do, Monkey Don’t

Talk about ‘Planet of the Apes’

“What got you here won’t get you there.” – Marshall Goldsmith

Someone once said, “I love people, I really do, it is just their behaviour that I cannot stand.” When it comes down to what really frustrates organisation leaders, it is not the lack of skills or knowledge of their employees. Rather it is a shortfall of desired behaviours.

As we usher in the Chinese Lunar New Year, it is a timely reminder that new results and new performance expectations cannot be achieved with the old behaviours of yesteryears. BAU (Behaviours As Usual) cannot be an acceptable leadership culture if the organisation desires to move collectively towards the place of sustainable high performance.

Upon the threshold of any fiscal year, company leaders are usually abuzz about the strategies going forward and are eager to witness a transformation in results and key performance indicators.

Yet, we all instinctively know that a well-written proposal and a persuasively-designed PowerPoint presentation cannot guarantee the delivery of results. Here is one often-neglected truth about performance – culture produces results.

Here’s one simple diagnostic question to ascertain if behavioural issues are holding your organisation back from achieving the intended key results: If everyone in your organisation continues to think and act in the same manner as they do today, can they achieve the expected results in the stated timeframe?

If the answer is a resounding “No”, then your organisation would need to embark on a cultural design initiative to determine the right cultural standard for achieving the right results. Companies with a thriving business do not leave their culture to chance, rather culture is intentionally designed and delivered.

Left on its own, the culture tends to degrade to a situation of territorialism whereby specific individuals create their own brand of sub-culture – their own monkey kingdoms.

How then do we address this monkey culture and rally the behavioural changes towards a common vision?

Behaviour is caught, not taught

It is what you do when no one is looking that determines the worth of your contribution.

It is interesting that the most common feedback I receive at the end of each behavioural-related training workshop is this, “Is my boss attending the same training as well?”

This highlights our human need for a moral reference when it comes to the motivation for changing our own personal behaviours and attitude.

Here are five common mistakes made by organisation leaders when they are too quick to implement strategic plans without giving thought to the foundational need for behavioural alignment.

Communicating the results without clarifying the overall vision of the company.
Growing the numbers without a specific plan to grow the employees.
Non-performers are still rewarded – sending an inconsistent signal to those who do perform.
Sending employees for training without involving the direct supervisors.
The performance appraisal criteria do not reflect the desired behaviours.

Behaviour requires a moral standard

Everything is not relative.

When it comes to behaviour, one cannot assume that people, by default, would know what to do.

In fact, when left on our own, our behaviour tends to degrade towards the fulfilment of selfish agendas, not that of the common good.

I recall facilitating a visioning workshop where almost everyone in the room had their own interpretation of the company’s values, and it was a challenge coming to a consensus. It was not until we were crystal clear with the expectations of the group chief executive officer that there was a decision on the way moving forward.

In other words, we needed to first establish the true north as the absolute by which all other behaviours are measured against. Without a fixed reference, behaviours are just personal preferences leading to territorial mindset.

Here are three questions to ask when communicating behavioural expectations:

1. Are the recognition practices consistent with the behaviours we want to promote?
2. Are the leaders aware of their own behaviour and seen to be walking the talk?
3. Are managers trained in the skill of having accountability conversations when there are misbehaviour and attitude issues?

Behaviour reinforces values

A child is known by his actions, not his intentions.

Many organisations are too hung up about corporate values until it becomes a copywriting debate. The fact of the matter is that corporate values are there as a directional guide while a more specific delivery guide requires something more observable.

Here is where we need an executable concept called key behaviours. Key behaviours are personal accountability statements that are communicated as behavioural expectations for every employee.

In Leaderonomics, we have five key behaviours which operationalise our core values:

• Be Accountable: “I take personal ownership to deliver on all expectations entrusted to me.”
• Be Excellent: “I accept challenges and exceed expectations in all that I do.”
• Be Synergistic: “I actively seek out and lead collaborative opportunities.”
• Be Courageous: “I am open to honest and authentic conversations.”
• Be Agile: “I find opportunity in all circumstances and will adapt myself to thrive in them.”

Does your company have a set of key behaviours which are non-negotiable accountability statements for every employee?

Just propagating core values alone is insufficient to set the tone for real change that will impact productivity, profits and people. If your corporate values are just statements on the walls with little behavioural clarity, then do not be surprised if the culture does not reflect the aspiration.

Monkeys vs donkeys

In social experiments, monkeys have been shown to display mob mentality behaviours i.e. they will all do what is the social norm, but it requires a few brave ones to set the tone and then have it reinforced through a series of risk-and-reward responses.

Now, when it comes to setting the cultural tone of an organisation, we can also take a cue from this observation in that we need a few courageous ones to set the tone and make a stand as to what is expected from everyone else – in other words, change begins with courageous leadership.

The other option is to go the way of the donkey which makes a lot of noise but refuses to budge due to stubbornness. In this year of the monkey, let’s not go down the path of the donkey.

By JOSEPH TAN Leaderonomics.com

Joseph Tan is CEO of Leaderonomics Good Monday. His passion is to work with performance-focused leaders to capture the hearts and minds of their employees through a strengths-based and accountability-driven approach. Much of what is shared in the article above comes from his work as a Gallup-certified strengths coach. If you would like to enhance the engagement level of your organisation, email joseph.tan@leaderonomics.com for more details. For more Be A Leader articles, click here.

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We don't need billionaire philanthropists, we need change !

An elderly woman sitting inside a store at a border village near the demilitarized zone in Yeoncheon, South Korea, Jan on 8, 2016. PHOTO: REUTERS 

Society needs people who adopt business models that can enrich ordinary people's lives and free them from a life bound by servitude and dependency.

These days we praise charitable donations and philanthropy; however, we must understand that they are the symptoms of a dysfunctional society, not the remedy.

It’s similar to the Red Cross during wartime; they can’t stop the war. In many ways, they propagate the dysfunctions because the biggest funders of these temporary resolutions are also the greatest oppressors of our society, from whom these dysfunctions stem.

There are, for example, many people suffering around the world from curable diseases simply because they don’t have access to proper medical assistance. Why do they have no access? Because they are too poor.

That is to say, this problem is derived from the massive income inequality around the world. If they could earn a sufficient living on their own, they wouldn’t need any charitable aid from developed nations. They don’t need rich philanthropists giving them millions of dollars. What they need is rich philanthropists to stop hoarding money and allow them to make a sustainable living.

Let’s look at Bill Gates, who was simply driven to make as much money as possible at any cost. Along the way, he has smothered many smaller companies, copied others’ ideas, and snuffed out many innovative competing products. Yet, all is forgiven and forgotten because now he donates a lot of money.

It is exactly this type of thinking that breeds income inequality around the world, which leads to people dying from poverty, and thus preserves the need for these billionaire philanthropists to remedy the situation.

Another exemplary indication of this problem is Lance Armstrong. He cheated to further his career and eventually got caught. Yet, today he is still a millionaire and is respected by millions of people: 3.8 million followers on Twitter to be exact. Why? Because he is a philanthropist who donated lots of money to cancer charities. None of this would have happened had he not cheated, but people forgive and forget. In our society, winners prosper no matter the means, as long as they become philanthropists in the end.

Take a moment to think of the other cyclists who didn’t allow themselves to cheat. Where are they now? Can you name them? Are they rich and famous?

To address the real origin of the problem, we need to change the way we go about earning and spending money at the very basic level. Instead of being driven to become philanthropists, treat people around you without greed and with consideration. Make your living and enable others around you to do so as well. If you aim to save money in order to be a philanthropist, you provoke everyone to be protective and hoard money also in order to control how the money gets spent. The more everyone does it, the more we are compelled and even forced to do it. We need to stop this vicious circle.

The resolution I’m putting forward is not a utopian concept. We simply need more people investigating and adopting business models that can enrich ordinary people’s lives, which can free us from a life bound by servitude and dependency.

In turn, this would empower us to solve our societal problems without asking such billionaires to solve them for us with their accumulated wealth. Nowadays I’m starting to see more and more entrepreneurs and business owners trying to figure this out, and it is quite inspiring. I think the real change derives from the ordinary things we do.

If this type of mission is to succeed and be sustained, the principal function of business must be ordinary. It is impossible for a sustainable economy to remain healthy and upright if it is only supported by the crutch of charitable donations and philanthropy.

The principal drive to better our society must come from ordinary businesses.

Hero-worshipping rich benefactors and philanthropists encourages everyone to accumulate more wealth than they need. We do not need billionaire philanthropists; we need ordinary business owners who treat other humans with respect and encouragement.

They are not rare or even uncommon; they exist all around us if we look carefully enough. It’s just that we are so busy looking up to iconic figures like the Bill Gateses of the world that we can’t see them.

By Justin Hiraga
  / 
Asia News Network

Justin Hiraga is an assistant professor at the Department of International Business Languages of Seokyeong University in Seoul. He can be contacted at jthiraga@gmail.com. –Ed.

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Developers shift focus to higher-priced residential properties in Penang; Busy in construction sector 2016

Projects worth RM41bil in Penang next year

 

Chan: ‘We still foresee the volume and value transactions of properties to contract in 2016. However, the contraction this time won’t be so sharp." (Default Alternate Text: "Chan: ‘We still foresee the volume and value transactions of properties to contract in 2016. However, the contraction this time won’t be so sharp.

GEORGE TOWN: Five developers will undertake RM4.33bil in property projects in Penang next year despite a challenging year for the property market.

The developers planned to price their mostly residential properties from between RM480,000 and RM3.3mil.

The price range came on the heels of this year’s launches of between RM200,000 and RM400,000 in strategic locations.

The developers would be shifting their focus to higher-priced residential properties.The condominium units in Bayan Lepas will be from 1,000 sq ft and priced from RM480,000 while three-storey houses with built-up of 5,300 sq ft will be priced at RM3.3mil in Seri Tanjung Pinang.

The developers are IJM Land Bhd with gross development value (GDV) of RM415mil, Ideal Property Group (RM1.46bil GDV), Hunza Properties Bhd (RM600mil GDV), Eastern & Oriental Bhd (RM650mil GDV) and Mah Sing Group Bhd (RM1.2bil GDV).

Real Estate & Housing Developers’ Association (Penang) chairman Datuk Jerry Chan told StarBiz that developers could be shifting their focus to properties priced from RM400,000 as there was a large supply of housing priced between RM200,000 and RM400,000 targeting first-time buyers.

This did not mean that buyers have lost interest in affordable housing with built-up of 900 sq ft and priced from RM500 to RM600 per sq ft.

Chan pointed out that developers would continue to build housing in the affordable range to leverage on the higher density for plots of land but there would be a gradual shift to the “non-affordable” range.

He added that there would be fewer launches in 2016, due to the difficulties in obtaining bridging and end-financing loans from banks.

Referring to the incoming supply of housing that were currently under construction, Chan said this would be spread over a five- to 10-year period, depending on market demand and the size of the schemes.

The National Information Property Centre (Napic) report revealed that the state would see an incoming supply of 72,114 units into the market.

According to the Napic report, the existing stock of houses in the state stood at 393,303, compared with 383,484 in the first half of 2014.

“We still foresee the volume and value transactions of properties to contract in 2016. However, the contraction this time won’t be so sharp,” Chan said.

Ideal executive chairman Datuk Alex Ooi said the group had developed 4,840 units of affordable projects on the island for the last two years.

“We have sold about 60% of these properties. Moving ahead, the strategy is to move into the non-affordable range priced between RM400,000 and RM600,000.

“Ideal Property still has around 300 acres of land bank on the island. We have some 25,000 units of properties planned for the land bank.

“There are still 8,000 units of properties with more than RM4bil in GDV to be implemented over the next 10 years, priced between RM400,000 and RM600,000,” Ooi said.

‘Moderate to flat’ outlook

Ooi expected property market conditions to be “moderate” to “flat” in the coming year.

Mah Sing (North) senior general manager Law Wei Keong said the company had recently completed a survey on the preference of housing products in the country.

“The study revealed that a majority of the 6,000 surveyed favoured houses priced in the range of RM500,000 to RM700,000,” he said.

Of the RM2bil worth of housing projects launched in the country this year, about 16% were priced from RM1mil, while the remaining 84% are below RM1mil, according to Law.

IJM Land senior general manager (north) Datuk Toh Chin Leong said despite the weak market sentiment, the company would continue to launch properties priced below RM800,000.

“It will be a slow year for the property market in 2016,” Toh said.

 TrehausIJM Land’s pipeline of projects for next year in Penang included the RM232mil Waterside Residence in The Light Waterfront project next to Penang Bridge, the RM64.7mil Trehaus Condo Villa scheme in Bukit Jambul, and the RM118.4mil Senjayu Terrace project in Jawi, South Seberang Prai.

The Trehaus and the Waterside Residences scheme would be launched in the second quarter of 2016, while the Senjayu Terrace would be introduced in late 2016.

“The price of the three property schemes ranged between RM730,000 and RM1.3mil,” he said.

Meanwhile, Ideal would be launching the RM460mil Forestville, RM600mil Queens Waterfront Residences, and RM400mil Camerlina, located in Bayan Lepas, priced between RM480,000 and RM800,000.

“There is still growing need for mid-range houses that is reasonably priced, located within mature township, surrounded and supported by amenities such as schools with good accessibility, lower density with lifestyle concept,” he said.

Eastern & Oriental will develop the recently launched RM482mil Tamarind and 50 units of terraced houses with a RM168mil GDV in Seri Tanjung Pinang.

The Tamarind units, ranging between 1,000 sq ft and 1,770 sq ft, are priced around RM691,000 and RM1.16mil, while the terraced units, with built-up areas of 5,300 sq ft, are priced from RM3.3mil.

Its general manager (marketing and sales) Christina Lau said the Tamarind was scheduled for completion in 2019.

No date has been set for the completion of the 50-terraced properties.

Mah Sing to unveil Ferringhi Residence 2

Mah Sing will launch the RM735mil Ferringhi Residence 2, the RM350mil Icon Residence and an unnamed RM150mil project in Southbay City, Batu Maung.

“We are targeting the Ferringhi Residence 2 launch in the first quarter,” Law said.

The Ferringhi Residence 2 consists of three blocks offering 632 units with built-up areas from 1,208 sq ft to 2,910 sq ft, priced from RM775,265.

Law said the pricing for the unnamed project would be below RM680 per sq ft.

“The units have built-up areas of 750 sq ft to 1,000 sq ft,” he said.

Meanwhile, Hunza will develop the RM600mil Alila 2 project in Tanjung Bungah, 270 units which have built up of between 1,900 sq ft and 3,300 sq ft, priced from RM775 per sq ft.

“We will promote the 9.8acre project in Indonesia, Hong Kong, and Singapore early next year.

“The key attractions are the size of the units, which are extremely scarce on the island nowadays,” group managing director Khor Siang Gin said.

By David Tan The Star

Construction sector to be busy in 2016 with projects worth RM83bil 

KUALA LUMPUR: WITH over RM83bil worth of infrastructure jobs to be awarded next year, it is going to be a busy year for the construction sector in 2016.

“The 11th Malaysia Plan unveiled in May 2015 has reaffirmed the strong pipeline of construction jobs till 2020. The record awards of project delivery partners (PDPs) for four major infrastructure projects with total value of RM80bil have further reiterated the potential works,” said Maybank IB Research in a recent strategy report. This flow of contracts if they are rolled out according to plan, is a new record, outpacing the high of RM28bil dished out in 2012.

The strong job flows are expected to be driven from new tenders in public transport, oil & gas downstream infrastructure and water-related jobs.

New award phase for the Klang Valley Mass Rapid Transit Line 2, is set to take off from the first half of next year while the other rail project coming on strean is the Klang Valley Light Railway Transit (KVLRT) 3. The Gemas-JB double track, which is being reviewed, is another potential.

The total value of rail-related construction jobs was estimated at RM39bil in the medium term, said CIMB Research. “These could be broken into 17-20 chunky packages worth between RM800mil and RM1.5bil each, excluding underground portions,” the research firm said in its recent outlook report.

As for highways, there are the RM4.2bil Damansara-Shah Alam Highway (DASH), the Sungai Besi-Ulu Kelang Elevated Expressway (SUKE), and the remaining West Coast Expressway (WCE) packages to be awarded. In East Malaysia, eleven more packages of the 1,090km Pan-Borneo Highway is expected to be tendered out in phases next year.

As for oil and gas infrastructure, Petronas’ Refinery and Petrochemicals Integrated Development (Rapid) project in Pengerang, Johor, is expected to see investments worth RM18bil based on Budget 2016.

On water-type contracts, CIMB Research reckoned that over RM2bil worth of jobs could be dished out and this excludes potential jobs from the private sector side.

The country’s strengthened ties with China have also injected further optimism into the construction sector.

“Chinese contractors have expressed interest in the rail projects, specifically, the Gemas-JB double track rail and Kuala Lumpur-Singapore high speed rail. Local contractors could partner them in bidding for the projects. With the Chinese companies’ ability to offer attractive financing packages, this would raise their chances of winning the projects, while allaying concerns on project funding issue,” said Maybank Research.

One other key project to watch for is the Penang Transportation Master Plan (PTMP) that is said to have contract value of RM27bil.

As for stock picks, Maybank IB Research has Gamuda Bhd at its top pick. The stock was a likely beneficiary of the PTMP and could also clinch additional jobs from the mega rail projects including KVLRT 3 and Gemas-JB double track rail, the research firm said.

CIMB Research also has Gamuda as its big-cap pick for the largest exposure to MRT 2. Among small/mid-cap it has Muhibbah Engineering Bhd as the preferred stock for the company’s US-dollar theme and exposure to Petronas’ Rapid.

“In the water segment, Salcon Bhd could emerge with a bigger share of wins. The company’s tender book currently stood at RM1bil to RM2bil,” said CIMB Research.

On the other hand, Public Invest Research has a neutral “call” on the sector as “most of the counters under our coverage were already fairly valued.”

“Currently, the construction index is priced at 13 times one-year forward earnings, which is also equal to its long-term mean. Hence, we believe the sector is fully valued for now, with most positives already priced in.”

As for stock picks, the research firm favours WCT Holdings Bhd as its job replenishment was better than expected with RM2.7bil clinched to-date, bumping up its unbilled orderbook to more than RM5bil. “Hock Seng Lee Bhd is expected to benefit from the Pan Borneo project, while Gamuda also looks attractive after the stock dipped below our fair value.”

By Gurmeet Kaur The Star