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Tuesday, March 14, 2023

Stop moral policing at govt offices, a form without substance; Michelle Yeoh after her Oscar win: 'I'm bringing this home', with substance

'Unsuitably dressed' woman denied entry into SSM office

Woman barred entry to SSM office over 'short' dress - MSN

Only in Malaysia: Woman denied entry Companies

 

Stop moral policing at govt offices, says Kula | The Star

MORAL policing related to dress codes at government offices has to stop, says a senior government backbencher.

The Chief Secretary to the Government should also issue civil servants updated instructions on the dress code at government offices, police station and hospitals, said M. Kulasegaran (PH-Ipoh Barat).

“There have been cases where people were stopped from lodging a report at the police station or even from getting (medical) treatment because of what they wore.

“I feel this is unacceptable in any multiracial country,” Kulasegaran told the Dewan Rakyat during committee stage debate of Budget 2023.

On March 10, The Star reported that a woman known as Khor Hooi Chin, 41, whose hemline was slightly above her knees, was denied entry into a government building by a staff member who told her that her attire did not comply with the dress code.

There have also been several other recent cases of women being denied entry to hospitals, police stations and government offices due to their attire.

“I hope a guideline will be issued to all to put an end to this moral policing,” Kulasegaran said. 

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Michelle Yeoh after her Oscar win: 'I'm bringing this home'

 

 

Pride of the nation and family | The Star

 

 

Michelle Yeoh on breaking glass ceiling at Oscars: 'I  kung fu-ed it out'

 

The Star Why Halle Berry presenting Michelle Yeoh with Oscar is such a big dea

 

Michelle Yeoh is proof that dreams really do come true | The Star

 

'Thank you Tan Sri for making us M'sians proud', says Dr Wee...


Michelle Yeoh's 'Everything' co-stars Ke Huy Quan, Jamie Lee ...

 

Winning night for Asians - PressReader


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The rot has spread to Securities Commission, a replay of the 1MDB debacle?

 

Substance over style/form: ‘Dress down’ to suit current times

 

 


 

 

 

 

Change your negative thoughts and behaviours with CBT

 

 
 

Monday, March 13, 2023

Silicon Valley entrepreneurs left in the lurch and livid, as banks topple, regulators face reckoning

 

Silicon Valley Bank was shut down on Friday morning by California regulators and was put in control of the U.S. Federal Deposit Insurance Corp..
 

 

 

In this photo illustration, Silvergate Capital Corporation

NEW YORK: Last Monday, the head of the Federal Deposit Insurance Corp (FDIC) warned a gathering of bankers in Washington about a US$620bil (RM2.8 trillion) risk lurking in the US financial system.

Last Friday, two banks had succumbed to it. Whether US regulators saw the dangers brewing early enough and took enough action before this week’s collapse of Silvergate Capital Corp and much larger SVB Financial Group is now teed up for a national debate.

SVB’s abrupt demise – the biggest in more than a decade – has left legions of Silicon Valley entrepreneurs in the lurch and livid.

In Washington, politicians are drawing up sides, with Biden administration officials expressing “full confidence” in regulators, even as some watchdogs race to review blueprints for handling past crises.

To his credit, FDIC chair Martin Gruenberg’s speech this week wasn’t the first time he expressed concern that banks’ balance sheets were freighted with low-interest bonds that had lost hundreds of billions of dollars in value amid the Federal Reserve’s rapid rate hikes.

That heightens the risk a bank might fail if withdrawals force it to sell those assets and realise losses.

But despite his concern, the toppling of two California lenders in the midst of a single workweek marked a stark contrast with the years after the 2008 financial crisis, when regulators including the FDIC tidily seized hundreds of failing banks, typically rolling up to their headquarters just after US trading closed on Fridays.

Even in the darkest moments of that era, authorities managed to intervene at Bear Stearns Cos and Lehman Brothers Holdings Inc. while markets were shut for the weekend.

In this case, watchdogs let cryptocurrency-friendly Silvergate limp into another workweek after it warned March 1 that mounting losses may undermine its viability. The bank ultimately said Wednesday it would shut down.

That same day, SVB signalled it needed to shore up its balance sheet, throwing fuel onto fears of a broader crisis.

A deposit run and the bank’s seizure followed. The KBW Bank Index of 24 big lenders suffered its worst week in three years, tumbling 16%.

“With Silvergate there was a little bit of a regulatory blind spot,” said Keith Noreika, who served as acting comptroller of the currency in 2017.

“Because they wound it down mid-week, everyone got a little spooked, thinking this is going to happen to others with similar funding mismatches.”

Representatives for the FDIC and Fed declined to comment.

The drama is already spurring arguments in Washington over the Dodd-Frank regulatory overhaul enacted after the 2008 crisis – as well as its partial rollback under President Donald Trump.

Trump eased oversight of small and regional lenders when he signed a far-reaching measure designed to lower their costs of complying with regulations.

A measure in May 2018 lifted the threshold for being considered systemically important – a label imposing requirements including annual stress testing – to US$250bil (RM1.1 trillion) in assets, up from US$50bil (RM226bil).

SVB had just crested US$50bi (RM226bil) at the time. By early 2022, it swelled to US$220bil (RM994.3bil), ultimately ranking as the 16th-largest US bank.

The lender achieved much of that meteoric growth by mopping up deposits from red-hot tech startups during the pandemic and plowing the money into debt securities in what turned out to be final stretch of rock-bottom rates.

As those ventures later burned through funding and drained their accounts, SVB racked up a US$1.8bil (RM8.1bil) after-tax loss for the first quarter, setting off panic.

“This is a real stress test for Dodd-Frank,” said Betsy Duke, a former Fed governor who later chaired Wells Fargo & Co’s board.

“How will the FDIC resolve the bank under Dodd-Frank requirements? Investors and depositors will be watching everything they do carefully and assessing their own risk of losing access to their funds.”

One thing that might help: SVB was required to have a “living will,” offering regulators a map for winding down operations.

“The confidential resolution plan is going to describe the potential buyers for the bank, the franchise components, the parts of the bank that are important to continue,” said Alexandra Barrage, a former senior FDIC official now at law firm Davis Wright Tremaine.

“Hopefully that resolution plan will aid the FDIC.”

The issues that upended both Silvergate and SVB, including their unusual concentration of deposits from certain types of clients, were “a perfect storm,” she said. That may limit how many other firms face trouble.

One complication is that the Fed has less room to help banks with liquidity, because it’s in the midst of trying to suck cash out of the financial system to fight inflation.

Another is that a generation of bankers and regulators at the helm weren’t in charge during the last period of steep interest-rate increases, raising the prospect they won’t anticipate developments as easily as their predecessors.

Indeed, even bank failures have been rare for a time. SVB’s was the first since 2020.

“We’re seeing the effects of decades of cheap money. Now we have rapidly rising rates,” said Noreika. “Banks haven’t had to worry about that in a long time.” — Bloomberg 

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Crypto shaken as SVB exposure depegs US$37bil stablecoin

  

Inflation data to test US stock market | The Star

 

SVB fallout spreads around world from London to Singapore

 

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Sunday, March 12, 2023

Investors duped by fake mutual funds firm lose almost everything

 

The Star on Twitter: "Investors duped by fake mutual funds firm ...

KUALA LUMPUR: She wanted to grow her retirement nest, so she placed about RM500,000 with an agent to be invested in mutual funds.

“I trusted the agent because we had signed an agreement,” said the retiree who only wanted to be known as Lee.

ALSO READ: International investment scam syndicate mastermind remanded

It all seemed legitimate, she said, adding that all she wanted was to have a comfortable life in her twilight years.

But now, she wonders if she would ever see her money again. “The company I invested in cited the pandemic as the reason for not paying dividends to investors.”

Lee was among 105 victims who lodged police reports against the company at the Sentul district police headquarters here yesterday.

Another victim, Siti, said she had invested RM300,000 in 2019 after she was promised 30% returns in one year.

ALSO READ: Over 300 victims lose RM100mil to investment scam, police reports lodged against firm

She said that she felt assured when the agent cited names of VVIPs and prominent politicians.

“I did not know it was a scam because they showed me approval letters from government agencies.”

By 2020, Siti still had not received any dividends.

“When I tried to follow up on this, the company did not even respond to my queries,” she added.

In view of the silence, Siti said she approached the Malaysia International Humanitarian Organisation (MHO) where she discovered others in the same situation.

Another victim, a Yemeni national, said he was approached by a “relationship manager” of a supposed bank.

“The relationship manager convinced me that it was a good and safe investment with 10% guaranteed returns,” he said, adding that he invested RM330,000 in the scheme which involved sukuk and seafood.

MHO secretary-general Datuk Hishamuddin Hashim said the victims were involved in five types of investments offered by a marketing management company.

He said they were lured into putting their money into supposed trust funds, shares, and sukuk, among others.

These investors were promised that they would get profits ranging from 15% to 24%, depending on their capital and investment period, he told reporters yesterday.

MHO advisor Tan Sri Musa Hassan suggested the government draft a law to deal with fraud including stock investments to prevent more people from becoming victims. 

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Saturday, March 11, 2023

Muhy­id­din, the 2nd former prime min­is­ter in corruption charges for kickbacks from bumi contractors Jana Wibawa; Good governance entails inclusivity


Tan Sri Muhy­id­din Yassin is the second former prime min­is­ter after Datuk Seri Najib Razak was charged in court.


 Muhy­id­din, who is Ber­satu pres­id­ent and Perikatan Nas­ional chair­man, was charged at the Ses­sions Court yes­ter­day with four counts of power abuse involving a total of Rm232.5mil in grat­i­fic­a­tion and two counts of money laun­der­ing involving Rm195mil.

Muhy­id­din, who is Ber­satu pres­id­ent and Perikatan Nas­ional chair­man, was charged at the Ses­sions Court yes­ter­day with four counts of power abuse involving a total of Rm232.5mil in grat­i­fic­a­tion and two counts of money laun­der­ing involving Rm195mil.

Najib was sen­tenced by the Kuala Lum­pur High Court on July 28, 2020 to 12 years’ jail and a Rm210mil fine after he was found guilty of seven charges of crim­inal breach of trust, money laun­der­ing and abuse of pos­i­tion in the Rm42mil SRC Inter­na­tional case in con­nec­tion with the sov­er­eign fund 1Malay­sia Devel­op­ment Bhd (1MDB).

RM300mil kickback claims that led to charges being filed

PETALING JAYA: The charging of Bersatu president Tan Sri Muhyiddin Yassin in court is linked to allegations that contractors had deposited RM300mil into the party’s accounts in return for projects.

The projects were part of the Jana Wibawa programme, which was set in November 2020 by Muhyiddin when he was the prime minister, to empower bumiputra contractors struggling during the Covid-19 pandemic.

Under the scheme, bumiputra contractors rated three to five stars were given contracts through direct negotiation.

They had to be approved by the Finance Ministry and Muhyiddin has pointed the finger at his finance minister then, Tengku Datuk Seri Zafrul Tengku Abdul Aziz, as the one who had approved the companies getting the projects.

Muhyiddin has also called the allegations “political slander” to smear his reputation as the eighth prime minister.

In February, the MACC froze Bersatu’s accounts and has since charged several individuals in court.

They included former Bersatu information chief Datuk Wan Saiful Wan Jan and Segambut Bersatu division deputy chief Adam Radlan Adam Muhammad.

They were alleged to have collected funds from the award of the projects.

On March 2, Bersatu treasurer Datuk Mohd Salleh Bajuri was remanded by the graft busters to assist investigations into the party’s expenditure.

Mohd Salleh was instructed to go to the MACC headquarters on March 1 to give a statement on payments by Bersatu to suppliers and vendors. 

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Good governance entails an inclusive approach

INTRODUCED in November 2020 during the administration of Tan Sri Muhyiddin Yassin, the Jana Wibawa programme was meant wholly for bumiputra contractors to help them cope with the devastating effects of the Covid-19 pandemic.

The Malaysian Anti-corruption Commission’s (MACC) probe into Jana Wibawa has revealed the shenanigans of the persons allegedly involved. According to Law and Institutional Reform Minister Datuk Seri Azalina Othman Said, there were 56 projects valued at Rm6.3bil under the programme. But that’s another matter.

It must not be overlooked that non-malay contractors were also affected by the Covid-19 maelstrom. Some were on the verge of bankruptcy too.

It is therefore regretted that the government of the day chose to implement a politically popular policy instead of one that promoted inclusivity and would have enhanced racial unity.

Prime Minister Datuk Seri Anwar Ibrahim, in enunciating the principles of Malaysia Madani, emphasised that the direction of the country must be guided by significant priorities that require an approach cutting across political, social, economic, environmental and technological aspects.

Good governance entails a more inclusive culture in promoting unity in diversity. It is hoped that the future will not look anything like the past.

- DR A. SOORIAN Seremban 

 

 

 

Change your negative thoughts and behaviours with CBT

 

CBT can help individuals recognise and challenge negative thought patterns that are causing them distress. — Pixabay

 Cognitive behavioral therapy is a form of psychotherapy that is based on the idea that our thoughts, feeling and behaviors are all linked.


Recently, I was approached to write about psychotherapy and its efficacy, rather than delving into matters concerning mental health policy and upscaling of services.

Therefore, I thought it was appropriate to write on this subject that is often spoken about, but about which little is actually understood.

Psychotherapy is a type of mental health treatment that involves working with a mental health professional such as a psychiatrist or a clinical psychologist, to identify and address psychological issues.

It can involve different types of interventions, such as cognitive behavioural therapy (CBT), psychoeducation and psychodynamic psychotherapy.

The goal of psychotherapy is to help individuals gain insight into their thoughts and feelings, develop healthier coping strategies, and improve overall well-being.

What is CBT?

The most popular type of psychotherapy is CBT.

It is a form of psychotherapy that helps individuals to recognise and modify thought patterns and behaviours that are contributing to their psychological difficulties.

CBT relies on the idea that our thoughts, feelings and behaviours are all interconnected, and that changing our thinking in certain areas can lead to positive changes in our feelings and behaviours.

An example of a CBT intervention for a patient would be to have them identify and challenge any negative thoughts or beliefs that may be contributing to their emotional distress.

The patient would learn to recognise irrational thinking and replace it with more balanced and realistic thoughts.

The therapist would also help the patient to become more aware of their triggers and how to take more effective action in managing difficult situations.

The core principles of CBT are:

Cognitive restructuring

This is the process of identifying and changing thinking patterns that may lead to negative thoughts and beliefs. 

Exposure and response prevention

This technique focuses on reducing the fear associated with thought patterns and behaviours by gradually exposing an individual to the source of their fear and preventing any reaction from occurring.

Behavioural activation

This technique encourages individuals to engage in enjoyable activities, even when they may find it difficult to manage their feelings.

Relapse prevention

This technique helps individuals understand how to maintain their positive changes and prevent a recurrence of old thoughts and behaviours that may contribute to mental health concerns.

There are many different types of CBT, including:

Cognitive therapy

This focuses on identifying and challenging irrational and maladaptive thought patterns to improve emotional regulation.

Dialectical behaviour therapy

This helps individuals learn to better manage intense emotions, self-harm behaviours and interpersonal relationships.

Rational emotive behaviour therapy

This helps identify irrational beliefs and replaces them with more adaptive, realistic thought patterns.

Acceptance and commitment therapy

This helps individuals become more aware of their thoughts and feelings, and encourages them to become more psychologically flexible and accept difficult experiences.

Mindfulness-based therapies

These help individuals become more aware of the present moment and develop a non-judgmental attitude towards thoughts and feelings.

Efficacy of CBT

Behavioural activation encourages individuals to engage in enjoyable activities, even when they may not feel emotionally up to it. — AFP 
Behavioural activation encourages individuals to engage in enjoyable activities, even when they may not feel emotionally up to it. — AFP

Several studies have found that CBT is effective in treating a variety of mental health conditions, such as depression, anxiety, insomnia, post-traumatic stress disorder (PTSD) and obsessive compulsive disorder (OCD).

For example, a meta-analysis published in the Journal of Consulting and Clinical Psychology found that CBT was more effective than placebo in reducing symptoms of depression and anxiety.

One assessment review found that CBT was more effective than other forms of psychotherapy in reducing symptoms of anxiety and depression.

Another study published in the American Journal of Psychiatry found that CBT was more effective than antidepressant medications in reducing symptoms of mild depression.

CBT can be used to effectively address a variety of other psychological conditions too, including phobias, substance misuse, eating disorders, personality disorders, anger management, relationship issues and chronic pain.

CBT can also help individuals develop more effective coping strategies for stress, improving self-esteem and enhancing overall psychological well-being.

Limitations of CBT

Mindfulness techniques, where individuals become more aware of the present moment, are part of CBT. — dpa 
Mindfulness techniques, where individuals become more aware of the present moment, are part of CBT. — dpa

Although CBT is an effective form of psychotherapy, there are potential limitations and pitfalls to be aware of.

For example, it requires a high degree of commitment and effort from the individual in order to achieve successful outcomes.

Additionally, since CBT primarily focuses on changing thought patterns and behaviours, it may not be as effective in addressing any of the individual’s underlying emotional issues.

Moreover, some individuals may find the cognitive restructuring techniques employed in this therapy to be psychologically challenging.

Also, it may not be as effective for individuals in more severe mental health states, such as those experiencing psychosis.

Some have argued that CBT does not acknowledge the role of biological factors in mental health issues, and that it can be an overly-mechanistic approach.

Biological factors in mental health refer to the brain and body’s physical and chemical processes that contribute to psychological issues.

These include neurological, genetic, endocrine and biochemical pathways, such as neurotransmitters and hormones, which can influence thoughts, feelings and behaviours.

An example of this would be hormonal imbalances in medical conditions like thyroid disorders, causing psychological manifestations.

CBT is not as well understood as some other forms of psychotherapy, in part because it is a relatively new form of treatment.

Additionally, many clinicians lack the knowledge and skills to properly implement CBT, and this can prevent individuals from receiving evidence-based treatment.

Finally, there is a lack of adequate research and comprehensive training programmes that can help clinicians gain the necessary skills to effectively utilise this therapy.

In my clinical practice, I have often been asked two questions.

Firstly, if CBT can be started together with psychotropic medications.

And secondly, if CBT can be the only form of treatment in place of psychotropic medications.

CBT can indeed be given together with psychotropic medications.

The combination of CBT and medication is often the most effective treatment for many mental health conditions, including depression and anxiety.

Medication can help reduce the symptoms of the condition and CBT can help to address underlying causes of the disorder, such as negative thinking patterns, lifestyle choices and patterns of behaviour.

Because of this, CBT may not be an appropriate sole substitute for psychotropic medications in the vast majority of cases.

It is important that each patient’s individual needs are considered carefully when determining the best treatment plan.

Ultimately, it is best to discuss with one’s mental health therapist the method of treatment that is most suited for an individual’s needs, rather than insisting on a therapy that seems appealing.

The mental health needs of every individual is unique, and therefore, a customised approach should be preferred for the best outcome.

Prof Datuk Dr Andrew Mohanraj is a consultant psychiatrist, the Malaysian Mental Health Association president and Taylor’s University Impact Lab on Mental Health and Well-being director. For more information, email starhealth@thestar.com.my. The information provided is for educational and communication purposes only, and it should not be construed as personal medical advice. The Star does not give any warranty on accuracy, completeness, functionality, usefulness or other assurances as to the content appearing in this column. The Star disclaims all responsibility for any losses, damage to property or personal injury suffered directly or indirectly from reliance on such information. 

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