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EDITOR’S NOTE
Global trade value exceeds US$20 Trillion per annum contributing to 59% of Gross Domestic Products. Connecting this enormous trade volume is the
logistics services, an industry most policy makers fail to understand its significance. An International report found that global GDP could jump six fold should 50% of global logistics best practice level be achieved. Malaysian Indian Business analyzes the logistics sector contributions and business opportunities available within the logistics industry.
In this issue, our editorial team pens their findings on why most Malaysian Indian Businesses are less successful after six months of collating data. You could be amazed at that the reasons behind why majority of Malaysian Indian Business have been classified as micro businesses. The African continents southernmost trading partner and the country with eleven official languages South Africa is featured in our inaugural emerging market segment. Readers are encouraged to review the country’s economic features along with business opportunities available to explore there.
As usual we lined up noteworthy articles, stunning facts and figures, selected business news from local, Singapore and India. Feedback and opinion by entrepreneurs and professionals on a topic posted by is added in our MIB Forum.
Finally, we seek your continuous support by signing up as our subscriber as only then we will be able to allocate more resources in researching hidden jewels of Ancient Indian Management philosophies for your reading pleasure and practice.
"To Succeed – Act"
Chairman & Managing Editor
Disclaimer: The views and opinions expressed in the articles published are those of the authors and do not necesarily reflect the views of MIB. While every reasonable care is taken in compiling this publication, MIB does not accept any liability whatsoever for possible errors, inaccuracies or omissions or the consequences thereof. The Publisher also accepts no liability in respect of the content of any advertisement in the magazine. All rights reserved. The reproduction, duplication, or republication of this magazine or any part thereof in any form whatsoever without the expressed written permission of the publisher is prohibited.
CONTENT
04 LEADERSHIP
Leadership Lessons From The Bhagavad-Gita: Part 8
08 Singapore Business News
10 Today I Learned: Things Great Business Leaders Do During Difficulties
11 MIB Forum
12 FEATURED
Logistics : The Trade Super Connector
16 FEATURED
Business Opportunities In Malaysian Logistics Industries
18 Did You Know?
20 EMERGING MARKET
Doing Business in Africa
24 VOX POPULI
South Africa Is A Promising Market
26 India Business News
28 BRAND
Colouring Your Brand Website
30 FACTS AND FIGURES
Business News In Figure
32 MANAGEMENT SOFTWARE
Handling Charts In Excel
36 EVENT COVERAGE
Agenda Suria: 5th Indian Shoping Festival
38 FINANCIAL PLANNING
The 8 Wealth Slices Of Humanity
42 INSPIRATIONAL
Law Of Focused Curiosity In Business
46 ANCIENT WISDOM
Efficiency In Action As Guided In Thirukural
48 QUOTES
Quotes From Ajaypal Singh Banga
50 LIFESTYLE
Managing Your Emotions At Work
53 Business Jokes
54 Malaysia Business News
58 ANCIENT MEDICINE
Relief Sinusitis With Hemopathic
62 EDITORIAL
Are Malaysian Indian Business Less Successful? A Review
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48
20
LEADERSHIP • by Anand Naidu
Anchoring Cultivation Majesty
Vedantic Management: Leadership Lessons from the Bhagavad-GitaPart 8 - The Art of Cultivation‘Roses never go neurotic. Lotuses never go neurotic.’ ~ Osho
| March 2015
04
LEADERSHIP
Welcome back to the March edition of the Malaysian Indian Business Magazine. I hope our Chinese readers had a wonderful start to the Chinese New
Year and I wish everyone a prosperous Year of the Goat.
I’ve previously mentioned that the entire goal of Vedanta is the perfection of man. And in keeping with that, the ancient art science of leader-building follows a 3-step method to achieve its ends. There is a vast storehouse of knowledge contained in the ancient Eastern philosophies. And yet, the knowledge is mysterious and difficult to apply. It may take years, sometimes a lifetime to understand. The one thing that is fundamental though, is the basic principle, anchoring. From that, everything else grows. In other words, you cannot grow unless your fundamentals are strong. You cannot learn unless your basics are strong.
This is what Osho means when he refers to roses and lotuses in his book, The Search. Roses never go neurotic. It means they don’t lose their composure. Roses don’t behave like other flowers because they are well-anchored. Something well-anchored will never go neurotic. Something well-anchored will always stay strong. Like an anchor in a storm.
In our last edition I noted that we would be talking of entropy and management, 2 concepts that seem unconnected, but are fundamental to the understanding of Aeach other.
In order to understand how the ancient art of cultivation is connected to anchoring, it is necessary to understand why they are connected?
“Yadaa yadaa hi dharmasya glaanir bhavati bhaarata; Abhyutthaanam adharmasya tadaatmaanam srijaamyaham. ”
When there is a decline of righteousness in the world,I manifest myself to save it.
Bhagavad Gita 4:7
In the Gita, Krishna makes a curious allusion to the physical world and to its nature. In the above verse, he basically informs Arjuna that it is in the nature of the physical world to weaken; to slowly disintegrate. The first way that this happens is by way of the fragmentation of the moral system. Do you recall Arjuna lamenting?
“Kulakshaye pranashyanti kuladharmaah sanaatanaah; Dharme nashte kulam kritsnam adharmo’bhibhavatyuta.”
When a family is destroyed, its faith suffers;When faith perishes, immorality descend on all.
Bhagavad Gita 1:40
And then again:
“Adharmaabhibhavaat krishna pradushyanti kulastriyah; Streeshu dushtaasu vaarshneya jaayate varnasankarah.”
From immorality the womenfolk are corrupted;When this happens, all of the world is doomed.
Bhagavad Gita 1:41
So the world is tending toward disorder; toward destruction. This is scientifically referred to as entropy. Entropy tends to increase. In other words the world tends more toward chaos and disorder than order. The whole point of anchoring and cultivation is to develop and preserve order in the face of growing disorder or neurosis. This is also the point of management. It’s a trite concept of course to note that management contributes to the control and order of a group of people or an organisation. Even in the Gita, it is clear that the world tends toward destruction. In this context Krishna promises to help to adjust the imbalance, to bring order to chaos.
So, the first 2 limbs on the ancient art of leader-building are really methods that are designed to prevent entropy. They are systems intended to resist disorder.
What happens when one allows entropy to build in one’s business? A business does not run itself. If left to its own devices, it will turn to ruin. Every leader and every manager is installed to help halt disorder. In some organisations, lamentably, there are many managers, middle and upper, so as to sometimes appear like there are more Chiefs than Indians.
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March 2015 |
LEADERSHIP
We’ve all seen organisations that boast ‘managers’ at every turn. They need them because it’s clear that entropy would overrun the organisation if they did not install controllers at strategic places. These controllers are managers. Managers are intended solely to act to stop entropy. In this sense, the Gita makes clear that action is superior to inaction.
In the art of cultivation, action can hold back the rise of entropy. Arjuna clarifies that this is the case:
“Sannyaasam karmanaam krishna punar yogam cha shamsasi;Yacchreya etayorekam tanme broohi sunishchitam.”
Renunciation of action or upholding of the yoga of action;Which of these is better?
Bhagavad Gita 5:1
And Krishna replies succinctly:
“Sannyaasah karmayogashcha nihshreyasakaraa vubhau;Tayostu karmasannyaasaat karmayogo vishishyate.”
Both can lead to goodness.But to act! That is the greatest path to goodness.
Bhagavad Gita 5:2
Even the ancients knew that action was superior to renunciation. The latter showed humility and temperance. But the former is what makes the world go round. Without action, the world would perish. Without action, entropy would overrun the world. Without action, entropy would overrun your business.
Business is not a static practice. It requires movement and creation. This, by itself, helps to delay the onset of entropy. The arts of anchoring and cultivation are central to the concept of resisting entropy, because that is a significant part of achieving goodness, or majesty.
What do we ‘cultivate’ people with? The Gita tell us again:
“Yogayukto vishuddhaatmaa vijitaatmaa jitendriyah; Sarvabhootaatmabhootaatmaa kurvannapi na lipyate.”
He who is devoted to acting, clear of mind,And has control of himself; he acts purely and without taint.
Bhagavad Gita 5:7
To succeed as a leader, even a person, one has to be clearly devoted to acting. To be able to act properly, one has to be clear of mind and be able to control oneself.
Entropy doesn’t just affect the cosmos, it also rages within us. The urge to do nothing, the urge toward apathy; these are both phenomena that tend to increase entropy. If we do not have complete control of our own senses, we are unable to control our environments.
A great leader understands the correlation between his self and his environment. That is the ultimate secret of the art of cultivation. In order to cultivate a leader, we must connect his sense of self-worth with the environment around him. Make him understand that he is capable of controlling his innermost feelings and by doing so is powerful enough to control any external phenomenon. It’s only by having control do one return to the source, the aim of all physical events:
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| March 2015
Anand Naidu is a Malaysian-born barrister and law lecturer based in Melbourne. He is also the Deputy President of LawHelp Australia, a not-for-profit legal advice bureau based in Melbourne. Anand has had a long association with the teachings of Hinduism and is currently preparing a series of seminars based on drawing leadership and management principles from Hindu teachings.
[email protected] +61 425 627 116
“If you are the master, then you start coming back towards the original source.
If you are not the master, then the energy moves away from you – towards things, persons, power, prestige, fame.”
~ Osho
What happens when we are not masters of our own decisions is simple. Other things, external stimuli, become the impetus and reason for us to act. And as we don’t have control over other things (because we always want things beyond our control), we are devastated by failure to achieve those things. This devastations mounts, like compound interest, one upon another, until it is no longer possible for us to move. We choke, we panic, we freeze. And, like Arjuna at the beginning of the Gita, we fail to see the value in what we’re doing, and we stop acting. Stopping acting increases entropy. Plain and simple.
All of the sum of knowledge given to us by India and the East relates to being able to act to stop entropy. Understanding knowledge over illusion is the first step. Controlling oneself
is the second. Acting is the third. Do you recall what Krishna says:
“Utseedeyur ime lokaa na kuryaam karma ched aham; Sankarasya cha kartaa syaam upahanyaam imaah prajaah..”
The world would perish if I don’t act.I would bring about the destruction of all things if I don’t act.
Bhagavad Gita 3:24
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March 2015 |
LEADERSHIP
RESORTS WORLD JEJU TO DEBUT IN 2017
Genting Singapore Plc launched a ground breaking ceremony for its Resorts World Jeju (RWJ), a US$1.8 billion tourism destination development in Jeju, South Korea. RWJ is slated
to open progressively from 2017, and will be one of South Korea’s largest integrated resorts, occupying a land area of approximately 2.5 million square metres. The entire development is expected to be completed by 2019. Jeju Special Self-Governing Province Governor Won Hee-Ryong, said he welcomed RWJ to be a partner of Jeju, and that he would fully support the project when officiating the ceremony. RWJ will house Jeju’s largest family theme park, offering more than 20 rides and attractions in 7 different zones, themed after myths and legends from all over the world. Jeju’s largest adventure waterpark, and one of Korea’s most exciting themed retail and food complexes. Its premium hotels will have more than 2,000 rooms, boasting luxury villas, Jeju Island’s first 6-star hotel and a destination spa. The hotels will be equipped with full meeting and conference facilities that are suitable for hosting regional and international meetings, incentives, conventions and events. In addition, there will be gaming entertainment, cultural facilities, leisure and entertainment amenities, as well as approximately 1,500 luxury serviced apartments and residential villas.
| February 2015
4,000 NEW HOTEL ROOMS TO FLOOD SINGAPORE
Jones Lang LaSalle (JLL) reports that approximately 3,899 rooms are expected to flood Singapore accommodation market in 2015, comprising mostly upscale and midscale hotels. Major hotels such as the 654-room South Beach Hotel and Club, the 500-room Jurong Lake Hotel, the 300-room Park Hotel Farrer Park and the 15-room Patina Capitol Singapore, Dusit Thani and Villa Samadhi are also
likely to open in 2015. Hotel operators’ revenues will further compressed in 2015 with addition to 4,000 new hotel rooms on back of 1,773 new additions in 2014.
08
| March 2015
SINGAPORE BUSINESS NEWS
VENTURE DEBT PROGRAMME TO FUND LOCAL TECH START-UPS
DBS launched a venture debt programme which will provide financing for tech start-ups in Singapore. Tech start-ups can use DBS venture debt for working capital, fixed assets acquisition and even project financing with little or no dilution to their equity.
Lim Chu Chong, Head of SME Banking at DBS said “Tech start-ups can use venture debt to complement venture capital, and buy more time and flexibility for their businesses to hit key development milestones, which can potentially increase their company valuations. We hope this will be a boost to the start-up eco-system in Singapore and help innovative tech companies scale up and reach profitability at a faster pace.” To qualify, tech start-ups must be strongly backed by DBS’ partner venture capitalists such as Vertex Venture, Monk’s Hill Ventures and Golden Gate Ventures. They should have raised at least $1 million of Series A funding, be incorporated for at least two years, be in operation for at least one year and have demonstrated that their business model is commercially viable.
BUSINESS SENTIMENT IN SINGAPORE SOURED RAPIDLY
Latest Business Times-UniSIM Business Climate Survey painted gloomier picture than official surveys by point that business sentiment in Singapore soured rapidly in Q4 2014,
as sales, profits and orders took a turn for the worse. Of the 179 firms polled in December 2014 and January 2015, 50 per cent expect business prospects to worsen over the next six months, up from 38 per cent in the previous quarter's survey. Meanwhile, the proportion of firms expecting improved business conditions fell to 21 per cent, from 29 per cent a quarter earlier. The business prospects net balance - a weighted diffusion index that takes the difference between the proportion of positive and negative firms - tumbled 25 points to -27 per cent, the largest drop the quarterly survey has seen since Q2 2012. This compares gloomily to the results of the latest official business expectations surveys - also negative, but much milder. A net weighted balance of 4 per cent of firms in services expect less favourable business conditions from January to June, but the Department of Statistics attributed this in part to seasonal effects after the boost that services tend to enjoy with year-end holidays and festive season. And a net weighted balance of 3 per cent of manufacturers are negative, according to the Economic Development Board's survey.
SEMBCORP TO INVEST $227M IN INDIAN COMPANY GREEN INFRA
Sembcorp is entering India’s attractive renewable energy market, a major step in the company’s strategy to grow its renewable energy business. According to a media release,
Sembcorp Utilities has signed agreements to acquire a 60% stake in Green Infra, a renewable energy company in India with a wind and solar portfolio. Sembcorp signed a shareholders agreement and a share purchase agreement with IDFC Private Equity Fund II and IDFC Private Equity Fund III, to invest in a 60% stake in Green Infra for S$227 million. The investment will be held through Sembcorp Renewables, a wholly-owned subsidiary of Sembcorp Utilities. Tang Kin Fei, Sembcorp Group President and CEO, says, “Green Infra’s strong capabilities and experienced team will help to accelerate our growth in the renewable energy sector not only in India, but globally. Meanwhile, with investments in both thermal and renewable energy, Sembcorp is well-positioned for growth in the energy sector with a balanced portfolio of energy assets.”
March 2015 |
SINGAPORE BUSINESS NEWS 09
Difficult Times Are Seen As OpportunitiesSteve Ballmer, co-founder and ex-CEO of Microsoft daring bought Los Angeles Clippers a professional basketball team at 2 billion dollars. Microsoft revenue and profits both tripled during his tenure as CEO, but he missed the mobile revolution while committed numerous product blunders. Missing his Wife (Microsoft) for the first time he found rich opportunity and invent it just like any other startup. He made the team on the upswing with a division title in the last two seasons.
They Lead, Build Confidence But Don’t MicromanageRonald Wilson Reagan, 40th President of the United States, the oldest man in office builds confidence in his team members, practices to lead without micromanage. The first serving U.S. President to survive being shot in an assassination attempt implemented sweeping new political and economic initiatives that brought the inflation rate from 12.5% to 4.4% and the average GDP growth 7.9%.
Focus On Core Business And Don’t Deviate From ItPresident Akio Toyoda of Toyota Motor Company acted swiftly by focusing on its core business of producing great quality automobiles during 2009 worsening economic climate. Toyota withdrew from Formula One race following the steps of BMW and Honda during the crisis.
They Don’t Attack Problems As A WholeAnil Dhirubhai Ambani, Chairman of Indian Reliance Group have never viewed a problem as a whole, but rather as a strategic enabler for continuous improvement. He brings down company debts by selling real estate, direct-to-home business and other assets. His Reliance Capital sold a stake in the company to Sumitomo Mitsui Bank and Nippon Life in order to reduce the group's debt.
They Are Visible And AccessibleSheila Crump Johnson, CEO of Salamander Hotels & Resorts a hotel-management company and co-founder Black Entertainment Television [BET] want her employees to look at her with dignity and respect. She admits her secret is being hang around and be accessible by her staff when they need more.
They Take ResponsibilityGood leaders always pass the credit and take responsibilities for any mishaps. Don Thompson, CEO McDonald International is one of the most courageous leader that don't make excuses or blame others. He took responsibilities for company’s weak financial performance under his stewardship and resigned from the Fortune 500 companies.
THINGS GREAT BUSINESS LEADERS DO DURING DIFFICULTIES
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TODAY I LEARNED
Fact "95% of Indian companies in Malaysia were micro-businesses recording less than RM300,000 annual turnover". What can we do to increase their business turnover?
We must diverse into niche businesses by adapting Blue Ocean strategy.
Gobi Krishnan, Executive Chairman Mogh BioEnergy (M) Sdn Bhd
In my opinion some 50% are doing very good business, but they are not paying attention taxation matters. For self owned micro business, my suggestion for improvement :
1. Try to enter into franchising business. Government fundings available.
2. Venture into import and export of commodities
3. Trade shares, look into blue chips 4. Have Online presence as it assist micro
business to growth.
Suresh, Operations Manager, Classic Enterprises
The biggest stumbling block for Malaysian Indian businesspersons is their inability to work collectively and seek for solution when they face problems. Due to our involvement in day to day operations, we have failed to grab opportunities offered by government agencies. Walk in to government agencies such as SMECorp, SEED , SMEBank, CGC , MAGIC, MATRADE, MIDA explain about your business and ask how they can assist to grow your business. Avoid asking for money.When there is a will there is a way.
R Navaneetha Krishnan, Executive DirectorAuto Comm Resources Sdn Bhd
Indians should adopt 'M&A' and not try to control everything individually. At one time sports equipment industry was controlled by Indians. They remained greedy and refused to 'M&A' or appoint agents in the various cities in the country. The result is that Indians have not expanded but remained as 'kampong' level companies. The same applies to the carpet businesses. The professional organizations including providers of training services are no different as there are large number of small providers yet they cannot 'M&A' to go beyond Klang Valley. There is great potential in other parts of delete Malaysia such as North-South-East Coast and Sabah-Sarawak. Lack of training facilities in these areas and those keen participants have to travel to Kuala Lumpur. Yet most of the training providers are reluctant to branch out. They should use some of their profits from Klang Valley operations to subsidize training opportunities in the other locations.
Mr. Gursharan SinghTrainer-Knowledge Sharer-Auditor
They should get business mentors to guide them. Let the mentor take a stake, inject some investment and help the business to grow. Teach them to network and educate them. I would suggest forming a business incubator to mentor and grow micro businesses into next level.
Ranjeev Hari, Bioinformatics Officer
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March 2015 |
MIB FORUM
The explosion in global trade that has occurred in the last two decades is in part a reflection of the innovations in logistics and changes in policies in countries around
the world that have led to a reduction in the costs of shipping goods and services across borders. The ratio of trade to GDP in the world as a whole has increased from 39% in 1990 to 59% in 2011. The total value of global trade today exceeds US$ 20 trillion.
Modern production often implies that goods cross many borders, undergoing processing and accruing components in diverse settings before ending up in a retail store. Logistics is a critical service without which global supply chains would not be viable. The lower the costs and the greater the quality of services provided by logistics companies, the better off customers and consumers.
A report produced in collaboration with World Bank concluded that a concerted effort to remove supply chain barriers could have a significant positive impact on global economic activity in the medium term. If all countries were to improve their logistics performance and reduce supply chain barriers to just half the level observed in the best-performing country in their respective regions, global GDP could increase by 2.6%. Indeed, if countries were to be more ambitious and improve their border management and transport-related infrastructure services to attain 50% of the global best practice level global GDP would jump by 4.7% – six times more than what could result from removing all import tariffs. Such large increases in GDP would be associated with positive effects on unemployment, potentially adding millions of jobs to the global workforce.
LOGISTICS : THE TRADE SUPER CONNECTOR The Logistics Industry Overview
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FEATURED
Given that the logistics sector is dependent on the global economic environment and international trade flows, the market is still suffering the lingering effects of the global economic crisis and recovery has been slow. Nevertheless, sector players should be able to tap substantial potential for growth going forward. Emerging markets are expected to offer above-average growth rates for the industry. Intra-regional trade is becoming increasingly important in Asia in particular, and this, combined with high GDP growth rates, may transform the region into the most significant regional cluster in the world.
The key trend currently visible in mature markets are moving away from commodity services toward a growing focus on specific verticals/industries that offer additional value-adding possibilities and enhanced margin potential. Another key area of potential lies in addressing the change in demand and capturing growth available from the online retail-driven B2C increase in volumes.
LOGISTICS SUB-SECTORS
1 Transportation - Land Ground transportation refers to transportation of unit load or bulk goods by road or rail. Services are offered by truck or train, as part load or full load. Road and rail transportation are typically asset- intensive businesses.
2 Transportation - Sea Sea transportation moves 80% of international trade. It is one of the safest and cheapest means of transportation.
3 Transportation - Air Air transportation offers services of moving passengers or goods from airports where long-distance flights are available.
4 CEP (Courier Express Parcel) Parcel services concentrate on transportation of widely standardized lightweight packages, usually limited to 31.5 kg, from door to door. The weight limit ensures that a single person can pick up and deliver the parcel.
5 Freight forwarding In freight forwarding business model forwarders buy capacity from carriers (airlines, trucking companies, ocean carriers) and offer this capacity to their customers as part of organizing their transportation requirements.
6 4PL – Fourth-party logistics A 4PL is an integrator that assembles the resources, capabilities, and technology of its own organization and other organizations to design, build and run comprehensive supply chain solutions.
7 Distribution Distribution companies use their own networks for specific types of goods servicing specific B2B or even B2C points of sale.
8 Contract logistics Contract logistics typically includes a variety of supply chain services such as warehousing, packaging, labeling, transportation, quality controls and much more. Contract logistics providers offer customized full-service packages for their customers, leveraging their IT platforms and their human capital.
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FEATURED
These four components combine to determine the performance of the transport and logistics system in terms of price, time, and reliability.
The advent of the ASEAN Economic Community (AEC) raises the importance of logistics connectivity to establish a more efficient transport and logistics network that integrates road, rail and sea transport in order to maximize the benefit of AEC. The goal is to create efficient linkages. Logistics connectivity looks at how multi-modal connections can contribute to competitiveness. For archipelagic countries such as Indonesia, Malaysia, and the Philippines, efficient, reliable and affordable shipping services provide opportunities to narrow economic development gaps.
LOGISTICS FOR TOMORROW
Global trade has flourished through elimination of trade barriers. Global economic power has shifted to Asia and the formerly “emerging” countries have surpassed the West. A global transportation supergrid ensures the rapid exchange of goods between centres of consumption. This untamed economy, propelled by unsustainable lifestyles and uncontrolled exploitation of natural resources, carries the seeds of its own demise: as massive climate change inches closer, natural disasters occur more often and disrupt supply chains frequently. The implications for the logistics industry include a massive increase in the demand for logistics and transport services. Companies even outsource production processes to logistics companies.
Automation has revolutionized the world of production and services. Consumers have switched from product ownership to rent-and use consumption. Highly efficient traffic concepts, including underground cargo transport and new solutions for public transport, have relieved congestion. Zero-emission automated plants have helped to cut carbon emissions. A global supergrid with mega transporters, including trucks, ships and aircraft, as well as space transporters, has opened important trade connections between the megacities of the world.
The logistics industry is entrusted to run city logistics, utilities, as well as system services for airports, hospitals, shopping malls and construction sites, along with part of the public transport infrastructure.
THE ASEAN LOGISTICS SYSTEM
The ASEAN logistics system composition consist of :
1 Shippers, traders, and consignees;
2 Public and private service providers;
3 Regional and national rules, policies, and institutions; and
4 Transport and communications infrastructure.
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FEATURED
It also manages the complex logistics planning and operations for advanced manufacturing tasks. In response to “dematerialization” of consumption, logistics companies offer an array of renting and sharing services, as well as secure data transfer. Thus, advanced logistics services not only encompass the fast and reliable delivery of goods, but also the safe transfer of information and knowledge.
Consumers are empowered to create, design and innovate their own products. This leads to a rise in regional trade streams, with only raw materials and data still flowing globally. Customization and regional production are complemented by decentralized energy systems and infrastructure.
The long d i s t a n c e l o g i s t i c s will vastly reduced for f inal and s e m i - f i n a l goods due to the localization of value chains. At the same time, logistics providers organize the entire physical value chains.
Scarce resources, technological development are lagging and economies are in decline. High energy prices and dramatic scarcities lead to international conflicts over resource deposits. Under these circumstances, scant effort is made to reduce greenhouse gas emissions and the world climate is on the path to a 3.5° C temperature increase by the end of the century. Implications for the logistics industry include challenges posed by the decline in world trade and the resulting regionalization of supply chains. Governments view logistics as a strategic industry. As relations between some blocs and countries are extremely strained, logistics providers in bloc-free countries act as intermediaries in international trade brokerage. The growing complexity and
length of the customs clearing process increases demand for specialized customs brokerage and consulting services.
Due to accelerated climate change, frequent catastrophes disrupt supply chains and lean production structures, resulting in repeated supply failures for all kinds of goods. The new economic paradigm is distinguished by a shift away from efficiency maximization to vulnerability mitigation
and resilience. This radical move towards redundant systems of production and a change from global
to regionalized supply chains allows the global economy to better weather troubling times. The
resilient world in 2050, with regionalized trade, relies on a logistics sector
that ensures supply security as a top priority, with backup
infrastructure to guarantee reliable transport in
unstable and hazardous times.
H o w e v e r , s u c h extens ive b a c k u p s y s t e m s are asset-h e a v y
and conflict w i t h t h e
aim of carbon reduction.
To counter this effect and balance energy efficiency
and supply chain resilience, sophisticated logistics planning
is used to achieve high capacity utilization. In addition, instead of complex
just-in-time delivery processes, huge warehouse structures located close to the
manufacturer are seen as indispensable buffers.
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FEATURED
1 DEVELOPMENT OF HALAL LOGISTICS
The need to safeguarding Muslim consumer interest halal products supply chain has to avoid cross contaminations. As such the need for Halal certified warehouse, cold storage , transportation system and hub will continue to surge . The Government of Malaysia provides a 100% tax exemption for 5 years and exemption of import duty for cold room equipment for Halal Logistics operators.
2 LOGISTICS IT SOLUTIONS
A study reveals that freight logistics sector alone had a RM75billion a year effect on the economy. Some 25% of this activity was being carried out by third-party contractors, the rest by companies themselves. More efficient supply chain management systems are required in managing such volume of transactions.
BUSINESS OPPORTUNITIES IN MALAYSIAN LOGISTICS INDUSTRIES
3 FORWARDING SERVICES
According to Frost & Sullivan, in 2013, the logistics sector grown 9.5%, year-on-year (y-o-y), bringing in RM139.7billion in value. The firm forecast a compound annual growth rate of 10.2% for the sector up to 2017, when it would be worth RM207.4billion . As a major export and import centre, forwarding has major potential for expansion.
4 WAREHOUSING
Under the GST system goods are subject to GST upon importation. The payment of GST by importers at the point of importation would cause difficulties in terms of cash flow as they have to pay the tax upfront. Thus, warehousing able to alleviate cash flow problems where payment of GST on all goods imported and deposited in a public warehouse is suspended. Warehouses for activities such as repacking, relabeling, break bulking , re-export needed to avoid the GST.
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FEATURED
5 DEVELOPING SKILLED AND TALENTED HUMAN CAPITAL
It is Malaysia’s intent to become a regional meeting place of the minds as part of specialist foreign logistics companies are also well placed to bring their knowledge and expertise to the Malaysian market.The industry needs skilled and talented human capital in meeting the growing and evaluating logistics industry.
6 EXPRESS DELIVERY FIRMS Demand for “end to end” solutions, “just in time” services, views Eexpress Delivery as critical to efficient supply chain management and maintaining their own competitiveness. The expanding e-commerce trade globally provides greater opportunities for Express Delivery Firms.
8 COLD CHAIN FACILITIES
Cold Chain Facilities such as cold room services, refrigerated trucks for perishable produces eligible to receive either Pioner status or Investment Tax allowance.
9 INTEGRATED LOGISTICS SERVICES (ILS)
In encouraging some 30,000 local logistics services providers to assume a bigger role in providing integrated logistics services, the Government has introduced the ILS incentive in 2002 integrate their activities and become Third Party Logistics Service Providers (3PLs). The main activities in the Integrated Logistics Services (ILS) are freight forwarding, warehousing, transportation and other related value-added services such as distribution, procurement and supply chain management in an integrated basis.
7 SHIP REPAIR
The growth of fleets around the world leads to a direct impact on global demand for ship repair services since more ships are in operation and leads to higher demand in repair and maintenance work. In 2011, revenue amounted to RM1.3 billion was derived from the ship repair sector. The Government of Malaysia has allocated RM3.0 in soft loans under Maritime Development Fund through Bank Pembangunan Malaysia to encourage development in shipping industry.
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March 2015 |
FEATURED
01 Logistics was identified as a priority sector for Integration under ASEAN ECONOMIC COMMUNITY
02 Vietnam is the coordinating country for Logistics in ASEAN
03 18 out of 20 biggest container ports in the world were in ASIA
04 World Bank reports 10% of transport cost reduction will lead to 20% increase in trade volume
05 Global logistics market represented a total volume of approximately USD1.12 Trillion
06 Africa is the “rising star” and fastest growing markets for Asia as China itself reported a 25% increase in trade volume
07 Asia has a very low logistics performance indicator (LPI) due to less
developed logistics setup despite Singapore and Hongkong the highest scorers
08 Online retailing will be the growth engine of the transportation sector globally. Malaysia e-commerce revenue forecast to reach USD 40Billion per annum
09 30% of total export logistics costs are derived from institutional rules and regulations
10 It takes up to 23 days for ASEAN exporter and importer to complete all documentary process.
11 Contract logistics had a 15.7% share of the logistics market
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| March 2015
DID YOU KNOW
TOP 20 WORLD CONTAINER PORTS
ASIA PACIFIC CONTRACT LOGISTICS MAR KEy SHARE by PROVIDERS [%]
Rank Port, Country Volume 2013 (Million TEUs)1 Shanghai, China 33.62
2 SIngapore,Singapore 32.6
3 Shenzhen, China 23.28
4 Hong Kong, China 22.35
5 Busan, South Korea 17.69
6 Ningbo-Zhoushan, China 17.33
7 Qingdao, China 15.52
8 Guangzhou Harbor, China 15.31
9 Jebel Ali, Dubai, United Arab Emirates 13.64
10 Tianjin, China 13.01
11 Rotterdam, Netherlands 11.62
12 Dalian, China 10.86
13 Port Klang, Malaysia 10.35
14 Kaohsiung, Taiwan, China 9.94
15 Hamburg, Germany 9.30
16 Antwerp, Belguim 8.59
17 Keihin ports, Japan 8.37
18 Xiamen, China 8.01
19 Los Angeles, U.S.A. 7.87
20 Tanjung Pelepas, Malaysia 7.63
77%
5% 3% 3% 2% 2%2% 2% 2% 1%
1%
Hitachi
Sankyu
DHL Supply Chain
Mitsibishi Logistics
CJ Korea Express
Toll Global
Keuhne+Nagel
Nippon Express
Yamato
Kerry Logistics
Others
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March 2015 |
DID YOU KNOW
DOING BUSINESS in SOUTH AFRICA
Parliament building of South Africa
FAST FACTS
Official Name : Republic of South Africa
Capitals : Cape Town (legislative), Pretoria (administrative), Bloemfontein (judicial)
Total Population : 52,981,991 (mid 2013)
Banking hours : Monday to Friday 0830 to 1530 Saturday 08h00 to 11h00
Currency : South African Rand (ZAR), equivalent to 100 cents
Bank note denominations : R200, R100, R50, R20, R10
Coin denominations : R5, R2, R1, 50c, 20c, 10c, 5c
Eleven official languages : Afrikaans, English, Ndebele, Sepedi, Sesotho, Seswati, Setswana, Tsonga, Venda, Xhosa and Zulu English is commonly used in public and commercial life
Other Languages Spoken : Fanagalo, Hindi, Sotho, Tsotsitaal, Venda
20
| March 2015
EMERGING MARKET
g Source : Worldbank as per 2013
INTERESTING FACTS ABOUT SOUTH AFRICA
Political • Only African country that is a member of the Group of Twenty (G20) countries • Ranked 53rd least corrupt nation out of 150 nations surveyed in 2012. (WorldAudit.org)
Economy • Ranked 53rd out of 148 countries in the World Economic Forum (WEF)’s Global Competitiveness Report 2013/14 • First among upper middle-income economies in the World Bank. • First in platinum output, second in palladium output, third in gold output, sixth in coal output and ninth in wool output. (Economist)
Business • Ranked 10th out of 185 countries for good practice in protecting investors in business. (World Bank Doing Business Report 2013) • Placed 14th in a list of 21 countries ranked by international companies as top prospective investment destinations for 2012 to 2014, according to the 2012 World Investment Report by the UN Conference on Trade and Development. (Unctad)
Sport • South Africa was the first African country to host the FIFA Soccer World Cup in 2010 • Second country in the world to have hosted the Cricket, Rugby Union and Soccer World Cups
Education • The University of Pretoria’s Gordon Institute of Business Science (GIBS) is the highest ranked African business school and is ranked 42nd overall in the world. (Financial Times Executive Education rankings 2013) • The University of Cape Town’s (UCT’s) Graduate School of Business is now one of just 59 of 13670 business schools worldwide to be triple crowned – schools that are accredited by the three largest and most influential business school accreditation associations, namely AMBA (the Association of MBAs), European Quality Improvement System (EQUIS) and Advance Collegiate Schools of Business (AACSB)
Environmental • SA ranks 18th in terms of biggest emitters of CO², ninth as a proportion of GDP and 27th in terms of CO² per person. (Economist)
Miscellaneous • Two of the world’s most profoundly compassionate philosophies originated in South Africa - Ubuntu (the belief in a universal bond of sharing that connects all humanity) and Gandhi’s notion of “passive resistance” (Satyagraha), which he developed while living in South Africa• South Africa is the first, and to date, the only country to build nuclear weapons and then voluntarily dismantle its entire nuclear weapons programme• South Africa has 45 million active cellphones (population 51 million), ranking in the top five globally in terms of cellphone coverage
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March 2015 |
EMERGING MARKET
THE ECONOMY DRIVER
Traditionally tooted on the wealth of minerals, since early 1990s tertiary services sectors namely wholesale, tourism and communications has been main driver of South Africa. The country currently focusing knowledge-based economy, with a greater focus on technology, e-commerce and financial and other services. Interesting South Africa is moving towards Green Economy to make cleaner energy production.
OPPORTUNITIES
1 Renewable Energy
Solar power South Africa is committed to installing over one million solar water heaters by 2014 and over 5.6 million by 2020. Concentrated Solar Thermal (CST) power is viewed as the most promising renewable energy generation option in South Africa
Wind power A pilot wind farm project in the Western Cape now supplies 13.2 gigawatt-hours of electricity per year to the city of Cape Town. Cape Town aims to source about 10% of its energy from renewable sources by 2020
Landfill gas Their first landfill gas power-generation project on the continent in Durban produces enough electricity for several thousand medium-income homes.
Bio-fuelsApproximately 500 000 hectares of under-used land are being set aside to develop plantations that will feed a 200 000 ton-per-annum biodiesel plant.
2 Information Communication Technology
South Africa is the leader of ICT development in Africa and the twelfth largest consumer of IT products and services in the world. Major projects are under way to lay submarine, fibre-optic cables along both the east and west coasts of Africa in order to improve the continent’s connection with the rest of the world. The country welcomes investment of the sectors listed below;
• Development of access control systems and security equipment
• Automotive electronic subsystems • Systems and software development in the banking and
financial services sector• Silicon processing for fibre optics• Integrated circuits and solar cells • Export of hardware and associated services as well as
software and peripherals • Environmental resources management (ERM) systems • Customer relationship management (CRM) systems
3 Mining and Metals
South Africa is one of the world’s biggest producers of gold and platinum and one of the leading producers of base metals and coal. Lucrative opportunities exist for downstream processing and adding value locally to iron, carbon steel, stainless steel, aluminium, platinum group metals and gold.
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| March 2015
EMERGING MARKET
4 Agro processing
The South African agro-processing industry offers outstanding opportunities for companies looking for both local markets and export platforms into Africa and Europe. South Africa is self-sufficient in most major agricultural products and is also a net food exporter and the second largest exporter of fruit in the world. There are exceptional opportunities for investment in the processing of fruit juice, meat, leather, groundnuts and wheat, as well as vegetable canning, cotton and woolbased textiles, wine, sunflower oil and soya-based products.
5 Manufacturing
The chemicals sector is the largest of its kind in Africa and a world leader in coal-based synthesis and gas-to-liquids technologies. Local textile production has evolved into a capital-intensive industry, producing synthetic fibres in ever-increasing proportions. Major multinationals use South Africa to source components and assemble vehicles for both the local and international markets offering numerous investor opportunities.
ABOVE:The Joule – South Africa’s first electric car that capable to run 200 kilometres between battery charges.
LEFT:
Gautrain rapid train
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March 2015 |
EMERGING MARKET
Malaysian Indian Business Magazine had an opportunity to discuss with Mr. K. Selvam, one of the leading exporter of Colour And Clear Contact
Lenses from Malaysia to South Africa. We pleased to share his opinion about doing business with South Africa.
MIB: How long you been exported to South Africa?Selvam : It has been 4 years since we start exporting to South Africa our disposable contact lenses.
MIB: What made you choose South Africa as your target market? Selvam: Our target market is young generations, we found more than 50% of Africa continent populations are below the age of 20 years old. Among all African Countries , South Africa consists of wealthy and more educated population. As an exporter, we plan a visit to a the market various times to understand the country's social economy and political landscape.
MIB: Did you face any communication problem with your customers?
Selvam: Dealing with South African customers are quite easy as they able to communicate in English using email and telephone.
MIB: Did you seek any assistance from government agencies as part of market entry strategy? Selvam : Our business growth solely based on work done by us. We haven’t had any opportunity to seek assistance from any government agencies. Probably in the near future, we may work with the Chamber of Commerce or Embassies as we explore new markets.
MIB: Have you participated in any trade fairs at this country?
Selvam : None
MIB: Tell us about your product or services.Selvam : We export colour and clear contact lenses under our own brand name Colourvue. We have the widest selection of disposable contact lenses with close to 100 variations of colours and designs available to satisfy today's fashion conscious society.
TITLE: SOUTH AFRICAIS A PROMISING MARKET
RIGHT:
Department of Arts, Culture, Science and Technology of South Africa Building
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| March 2015
VOX POPULI
INDIA TO RETAIN TOP SPOT AS WORLD’S BIGGEST GOLD CONSUMER
The World Gold Council [WGC] said India regain its position as world's biggest gold consumer from China in 2014 and likely to retain this year driven by robust jewellery demand.
WGC date indicates Indian consumer demand for gold jewellery and investment totalled 842.7 tonnes last year, compared with 813.6 tonnes by China. The two countries accounted for over half of global demand. The industry group forecast gold demand in both India and China to rise to 900-1,000 tonnes in 2015, but said India was likely to retain its edge. Global gold demand also hit a five-year low last year as buying of jewellery, coins and bars failed to keep pace with 2013's elevated levels, the WGC said.
FLIPKART TARGETS $8 BILLION IN ONLINE SALES
Flipkart, India's largest online retailer plans sell products worth up to $8 billion in the next three years. According to industry sources competitors Snapdeal and Amazon's India arm currently notch up gross merchandising values of around $3 billion and $1 billion respectively. Flipkart founders Sachin Bansal and Binny Bansal wants to double up their gross merchandise values on its site, to $8
billion compare from $4 billion it is clocking currently.
26
| March 2015
INDIA BUSINESS NEWS
SPICEJET ANNOUNCE AIR FARE CHEAPER THAN TRAIN
SpiceJet, one of India’s low cost carrier has launched a massive sale, with all inclusive fares starting from Rs 599 for domestic travel and Rs 3,499 for overseas flights. Around 400,000 seats are on offer, with 100,000 selling for Rs 599, according to a company press release. Bookings will take place from 11 to 13 February for travel between 1 July to 2 October. The tickets on domestic routes such as
Hyderabad to Vijayawada, Guwahati to Kolkata, Bangalore to Hyderabad, Delhi to Dehradun, Ahmedabad to Mumbai are all priced at Rs. 599. International flights start from Rs. 3,499 for routes such as Delhi to Kathmandu and other routes. “At SpiceJet we believe that flying empty seats, which are the ultimate perishable commodity, is a crime. These are seats that would otherwise go empty and be lost forever, and are priced based on the marginal cost of carrying an extra passenger, not on the average cost. Revenues from such offers contribute incremental revenue for the airline that flows directly to the bottom line,” Sanjiv Kapoor, Chief operating officer said in a press release.
EIGHT INDIAN FIRMS RAISE US$2 BILLION IN DEBT FROM SIX SWISS EXCHANGE
Eight Indian firms including six banks raised USD 2 billion in debt from Six Swiss Exchange between 2012-14, Six Swiss Exchange said. The Zurich-headquartered independent
bourse was eyeing more participation from Indian companies and financial institutions in equity issuance after healthy interest in debt. The exchange, which has USD 1.3 trillion market capitalization, is now seeking more equity participation from Indian corporate sector and was carrying out roadshows. SBI, Union Bank, ICICI Bank, Bharat Petroleum are among a few issuers in the exchange.
ADANI IN LARGEST RENEWABLE ENERGY PROJECT
Billionaire Gautam Adani is planning to set up a solar power
facility of 10,000 megawatt (Mw) in a joint venture with state-run Rajasthan R e n e w a b l e E n e r g y Corporation. “This is certainly the largest renewable project,
but its success would depend on financing,” says an analyst with a domestic brokerage. This would be bigger than another group firm Adani Power’s existing capacity. The company that claims to be the largest private-sector thermal power producer has 9,280 Mw of capacity, including 40 Mw of solar generation. In January, Adani Enterprises also signed a pact with US-headquartered SunEdison to jointly invest $4 billion in setting up India’s biggest solar panel factory. This would be now helpful to manage supply for the new project in Rajasthan. “India has embarked on an ambitious programme of becoming a world leader in renewable power generation, with a special focus on solar,” Gautam Adani, chairman, Adani Group, said. This will be Adani’s second-most ambitious project after the plan to develop Carmichael coal mine in Australia, which requires an investment of $10 billion.
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March 2015 |
INDIA BUSINESS NEWS
Would you agree if I say that your brand’s website is your business name card online? How about the impression created through
your corporate mail and website? Did you notice you gain slightly better impression by having these? This one really works, especially if you’re introducing to some strangers in business that may be your potential clients. Let’s assume that we already have a website for our business. Now, how creative in design is your website? And the ‘colour’ feel of it?
COLOURING YOUR BRAND WEBSITE
28
| March 2015
BRAND • by Prasath Kanagaras
Success can be absolutely dependent upon choosing correct colour combinations as using a really poor one can lead to nowhere but miserable failure. It is very important to note “colour it perfect” when it comes to the best combination since it is very vital for any website design in considering the elements of the page layout.
The question is, how many times have you landed upon a particular site and been absolutely ‘bored noticing the colours presented. Well, unless you want a lot of people asking that old proverbially clichéd question, “What was he thinking?” you better be learning how to pick and choose colour combinations correctly or find some help.
Colour is a psychological component. Therefore, it is one of those activities that must be meticulously executed in order to arrive at the right colour combination to match the theme of your website. Some of the best places to start include matching website colours with your business logo colours. Or, employ a contrast of colour combinations so your logo stands out, which will help strengthen your brand recognition. You also must understand that a particular colour can change the mood and often this is done drastically when combined with other colours.
The common thing that we have to take note is that people relate colours through mental experiences and brain reactions. The starting point for selecting colour combinations does begin with what is universally accepted as what those colours represent as far as the effects upon the senses. Therefore, it is hard to imagine that a designer creating a website for a typical manufacturer will employ use of the colour blue. Typically, the human mind translates colours with those animated objects either found naturally or artificially in life. Fire is red, not necessarily blue, although technically a blue flame is hotter than a red flame, but it is the generally accepted popular version that selecting colour combinations is based upon.
A basic understanding of colour theory is something that all art students and website developers study as subject matter during their training. You can also use of a colour tables that will show how colour is structured in a specific order. This starts with the colours blue, red and yellow, which are known
as primaries. These are the building blocks of all colour. The use of the colour table will show you which ones are opposite each other. This helps to gain a basic fundamental direction of how to combine colours to make a combination. Note that blue is opposite of orange. Red is opposite of green, while red/violet is opposite of yellow/green. When you find colours that are opposites, they are known as complementary.
Sometimes, colours are divided based on temperature, which is normally termed as warm or cold. Colours at the bottom right of the colour table are all based on blue and are cold colours, whereas the colours based on red are called warm colours. So, fundamentally, if a web designer is looking to
evoke a cooler temperature, choosing a blue derivative colour would be the proper way to go.
Similarly, on the other hand, if the same designers looking to evoke a warmer feeling, he or she would use a red derivative colour.
As you can see, colour is suitable for a particular purpose, but sometimes choosing the right colour combination that will instantly fit a particular purpose may be a difficult challenge, specifically if you’re starting from scratch and have no reference point such as a company logo.
Obviously, if the colours contained within the company logo are cool,
then this needs to be taken into consideration when you choose other
colours on the webpage to associate with it. The same is true for the opposite, using the warm colours derived from red.
Now, you’ve got to sit and plan your website and its colours. Ask me if you need more inputs on this!
Colour is a psychological component.
Therefore, it is one of those activities that must be meticulously executed in order to arrive at the
right colour combination to match the theme of your
website
Prasath KanagarasBrand StrategistPoint Blank MediaworksVeep Social Communications
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March 2015 |
BRAND
US$1.3 trillionApple Inc. shareholder estimate the company stock should be trading at US$216 per share, making it worth about US$1.3 trillion. The company reported cash reserves of US$178 billion as of end December 2014, enough cash to buy IBM or returning US$556 to every American.
65% Glove MarketMalaysian Glove Companies aims to capture 65% of global glove market share by 2020. Malaysian Rubber Glove Manufacturers Association (MARGMA) glove companies in Malaysia are currently contributing to about 58% of the global market.
US$500million Innovation FUNDInfosys board has beef up Innovation Fund from 100million to US$500million to provide financing to start-ups and new technologies like artificial intelligence. India's second largest software services firm Infosys CEO and Managing Director Vishal Sikka said the fund is dedicate a part for investing in India.
160,000 homes powered by SolarWorld’s second largest solar farms now able to power some 160,000 homes. The farm located in east of Los Angeles, will operate and provide 550megawatts electricity to the grid. The farm provides enough energy to power 160,000 average homes and displaces 300,000 tons of carbon dioxide per year — the equivalent of taking 60,000 cars off the road
50% Seeking Job OnlineMore than 50% of Myanmar job seekers now browsing for jobs online as it practically “weightless.” Fast and cheap internet is certainly a big part of it, but there are also more incentives. Online job seekers obviously rely on job websites – job portals and Facebook.
| March 2015
FACTS & FIGURES30
RM810million Operating ProfitBank Internasional Indonesia (BII) has reported an operating profit before provision of 2.87 trillion rupiah (RM810mil) for the financial year ended Dec 31, 2014 compared with 2.9 trillion rupiah a year earlier. BII top-line products continued to show improvement as reflected from a solid growth of 23% in gross interest income.
The Statistics Department of Malaysia said construction sector recorded a 9.7 per cent year-on-year growth in the fourth quarter of 2014. The non-residential buildings sub-sector contributed 34.6%, followed by civil engineering sub-sector 30.6%, residential buildings 29.7 %, and special trades 5.1%.
RM7.02 billion RevenueDiGi.Com Bhd. said its revenue rose RM7.02 billion in 2014 from RM6.73 billion previously. The company recorded surge in its pre-tax profit of RM2.65 billion for the financial year ended Dec 31, 2014 from RM2.14 billion registered a year ago.
S$23.5 billion tourism receiptSingapore tourism receipts for 2014 hold steady at S$23.5 billion despite the dip in the total number of visitors. Singapore Tourism Board said the drop was likely due to factors such as the implementation of China's Tourism Law, regional socio-political issues and recent aviation incidents in the region.
Rs11billion Export Development board (EDB) said Sri Lanka’s annual provisional merchandise exports increased by 6.67 percent to 11.079 billion rupees. Taken on a month-on-month basis, 2014 December provisional monthly exports surged across the board totalling 10.01 billion dollars up by 8.72 percent.
9.7% growth
March 2015 |
FACTS & FIGURES 31
UNDERSTANDING THE BASICS OF CHARTS
A chart is a pictorial representation of data. Data can consist of text and/or numbers. Ideally to create a chart in Microsoft Excel, one needs to select at least a single series of numbers (either column or row). For example, if the user has two columns of data, with the first column containing text data, and the second with numbers, a pie chart is best represented in this data. Let us consider this based on the data provided.
In the above two columns of data, how do you represent it pictorially? One way is to show this using a pic chart. A standard 2-D pie chart was created by Excel as follows.
Handling Charts in Excel
Part 1
32
| March 2015
MANAGEMENT SOFTWARE • by Palani Murugappan
Note that in the above, the pie chart on the left represent a selection of both columns A and B (Month and Amount Sold) while the pie chart on the right represent a selection of only a single column i.e. B. For a pie chart, it is best to select a maximum of two columns where one contains text and the other, number or values.
At any point, the user has the option of adding additional information to the chart by changing the layout of it as illustrated. By default, percentages are displayed instead of actual values. One of the reasons is that a very large value can be a very small percentage. Thus, percentages are represented.
Chart1a Chart1b
Chart1a
Should the user decides to display values instead of percentages, it can be done by right clicking on any of the percentages within the chart (called Data Labels) and selecting the Format Data Labels option. This is depicted on the chart 2b.
The user has the option of displaying the data labels outside the chart as in chart 3. The adjoining line, called the leader line, is only visible if the labels are dragged away from the individual segments. If the labels are just outside each segment, you will not see the leader line.
Chart1b Chart 3
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March 2015 |
MANAGEMENT SOFTWARE
Note that if the pie chart consists of large and very small segments, the smaller segments can be represented as a pie of pie chart. In other words, the smaller segments are represented as another pie chart within the same chart area to show the smaller segments (i.e. months of May and June). In the pie of pie chart 4a, the Other (14%) represents the total percentage for the months of May and June represented in a different pie chart.
The user has a lot more options in terms of displaying the above chart. For example, the user is able to change the smaller pie chart to a larger size as chart 4b.
Another option is to increase or decrease the gap width between the two pie charts. In the following illustration, the gap width has been reduced.
The pie of pie chart can also be made to appear exploded, i.e. each segment is an object of its own as below.
Finally, the user has the option of adding more segments to the smaller pie chart. For example, the smallest segment in the pie chart (chart 5b) on the left is for the month of April at 15%. The above chart can be tweaked to add the smallest segment as in chart 5b to pie chart as in chart 5c.
The standard 2-D pie charts will give you the “flat” appearance. To give it a “button” effect, the user has the option of changing the chart style to another. Excel version 2007, 2010, and 2013, has more than 40 different chart styles.
Chart 4a
Chart 4b
Chart 5a Chart 5b
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MANAGEMENT SOFTWARE
Chart 5c Chart 6a
Chart 6d
Chart 6b Chart 6c
The final version of a different colored background pie of pie chart is as illustrated. Sometimes, a user may want to highlight a specific segment with a picture instead of a color. In the illustration below, the Other segment has been added with a picture to tell a story (assuming the data represents sales of flowers). To give it a finishing touch, a glow effect can be added to the Other segment( chart 6d). So, the above was a quick introduction to how a simple pie chart can be given a “makeover” and displayed in a visually stunning manner.
Penned by : By Palani Murugappan
A HRDF certified trainer and author of 51 books to-date on various software applications, Palani is passionate on what Excel can do, and how best to present data in different formats. More information is covered in his website. He can be reached at:
www.avimursolutions.com
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MANAGEMENT SOFTWARE
AGENDA SURIA URGED TO FACILITATE TRADE MATCHING
Agenda Suria Communication’s 5th International Indian Shopping Festival 2015 was held at Danga City Mall Johor Bahru, from 17th to 22nd February 2015. The year’s opening event was officiated by Women Entrepreneurship and Professional Development Office of the Prime Minister's Department advisor, Datuk Seri Shahrizat Abdul Jalil. We want to promote the women's talents as entrepreneurs and we also want the women to have their own 'purse' as this is important not only to help themselves but their family too.” She further calls for cooperation between the agency and Agenda Suria Communication in organising several programs including matching up local entrepreneurs with those from India since the company had close rapport with businessmen and wholesalers from India which would facilitate them in helping the Malaysian women. Agenda Suria Communication chief executive officer and founder, Jaggarao Simancha said the six-day festival, which was initiated in 2011, targeted 200,000 visitors including 50,000 from Singapore.
Official Magazine
THE 8 WEALTH SLICES OF HUMANITY"The human species... is composed of two distinct races: the men who borrow and the men who lend"Charles Lamb
There is a lot more to wealth than mere material abundance. Yet, for the purposes of this piece in Malaysian Indian Business, I'm going to share with
you a way to understand where each of us stands within the economic hierarchy of our world.
A simple "You're rich; I'm poor," dichotomy is not terribly helpful in guiding us to set personal economic goals. However, the Certified Financial Planner Board of Standards once highlighted a definition of financial planning that I continue to find helpful:
"Financial planning is the process of meeting your life goals through the proper management of your finances."
Any process of meeting an important self-defined life goal involves taking incremental steps... forward, onward, upward! There's always room for improvement in every dimension of life. Economically speaking, for instance, our species - which at the time of this writing, numbers just over 7.2 billion people – covers an extensive spectrum of personal wealth.
Where do you fit in? Let's find out, shall we?
To help give you an objective sense of where you are now so you may choose to set a challenging but realistic goal for wealth enhancement, I'm going to discuss 8 segments of humanity's spectrum of wealth. Using a combination of my own flippant terms and widely used ones, here are the names of those 8 segments:
Scuba diver, flatlander, hill climber, mass affluent, high net worth individual (HNWI), ultra-HNWI, super-elite, and Himalayan!
In financial planning, two personal finance statements measure and guide a person’s journey to or from financial freedom. They are the net worth statement and the cash flow statement. The first comprises a listing of a person’s assets and liabilities on a particular day, say today or December 31st or January 1st or your birthday. The second records the cash flow pattern over a period of time, meaning the cash inflow and the cash outflow over, say, a month or a quarter or a year.
38
| March 2015
FINANCIAL PLANNING • by Rajen Devadason
Now, here's what I mean by each of those 8 terms:
1 SCUBA DIVER
Real scuba divers operate underwater and see amazing sights the rest of us never gaze upon. But when it comes to economic scuba divers, those with negative net worths, the sights are less palatable.
If a person has more liabilities than assets, he is technically insolvent. He is operating below water, so to speak, and should strive to swim his way back to the surface by paying down his liabilities and growing his assets. For the purpose of clear segmentation, I consider anyone whose net worth is less than minus RM5,000 (lower than minus five thousand ringgit) a scuba diver.
2 FLATLANDER
An economic flatlander, in contrast, lives life in balance. His assets andhis liabilities are closely matched, so his net worth is either zero or very near it, say between minus RM5,000 and plus RM5,000.
3 HILL CLIMBER
An economic hill climber is someone who is either consciously or unconsciously doing the right things within a financial planning framework, such as spending less than he earns, and saving and investing the difference, and thus inevitably, if gradually, growing richer. This improvement is tracked through his progressively larger positive net worth numbers over the course of years and decades. A hill climber’s net worth would be north of RM5,000 but south of RM500,000, including the equity (which equals market value minus outstanding mortgage owed to the bank) in his own home.
For the remaining five segments I'll use US dollars as it is the standard unit of global wealth levels.
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FINANCIAL PLANNING
4 MASS AFFLUENT
Excluding equity in the primary residence and focusing solely on financial assets such as stocks, bonds, cash, and unit trusts or mutual funds, the mass affluent or so-called emerging affluent person is worth more than US$100,000 but less than US$1 million.
5 HNWI
Using the same yardstick as the mass affluent, a high net worth individual or
HNWI (pronounced hun-wee), is worth more
than US$1 million but less than US$30 million.
6 ULTRA-HNWI
According to the annual World Wealth Report – published each year in late June by Capgemini along with, in recent years, RBC Wealth Management, an ultra-HNWI individual is worth more than US$30 million. I tend to use the same starting point but with one minor difference. I think of ultra-HNWIs as having financial assets of US$30 million or more but less than the magical US$1 billion mark.
7 SUPER-ELITE
This segment comprises the slightly more than 1,600 people worldwide (based on the latest Hurun Global Rich List 2015, which states there are 2,089 billionaires in early 2015) with net worths of US$1 billion or more but who still fall outside the BIG CLUB of the Forbes 400 list of the world’s richest whom I have designated Himalayan wealth accumulators.
8 HIMALAYAN
Just as the Himalayan mountains form the highest mountain range on our planet, by my terminology a Himalayan wealth accumulator is one of the 400 richest individuals on Earth. The Forbes global ranking (accessed online on February 25th 2015 at www.forbes.com/billionaires/list/9/#tab:overall) placed Bill Gates at the pinnacle with an estimated Everest-like wealth pile of US$79.4 billion; Mexican telecommunications magnate Carlos Slim Helu was second with US$76.0 billion; and the Oracle of Omaha Warren Buffett,
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FINANCIAL PLANNING
everyone’s favourite investor, was third with US$72.9 billion. In that same listing, to earn a Himalayan spot, note that the 400th ranked wealth waterline mark was an eye-watering US$4.1 billion – just five years ago, in early 2010, it took ‘only’ US$2.4 billion to qualify as a Himalayan!
What does all this mean? First, note there are only about 15 million people worldwide who fall into categories 5, 6, 7 and 8! This means the overwhelming majority of humanity (7.185 billion out of 7.2 billion people) inhabit the lower half of my 8-rung ‘ladder’: the scuba divers, flatlanders, hill climbers, and mass affluent!
To give you more detail: Based on 2014’s World Wealth Report and estimating a modest 7% increase between last year and 2015, the top four rungs only have an estimated 15 million (0.015 billion) people! Therefore, the odds are overwhelmingly high (99.79%) that almost all humans reside in the lower half of my ladder of wealth distribution. But that doesn't mean there aren't opportunities for upward mobility.
So, do you want to 'go up in the world'? Then, my friend, make it your goal in the months and years ahead to focus on your personal finance issues. Build your wealth and eradicate the blight of bad forms of debt from your life.
Then make it a non-negotiable key life goal to climb up at least one rung (preferably two or more) in the decades ahead as you strive to thrive. As always, I wish you success…
Rajen Devadason, CFP, is a Securities Commission-licensed financial planner, professional speaker and author. Read his free articles at www.FreeCoolArticles.com; he may be connected with via LinkedIn or website at:
https://www.linkedin.com/in/ rajendevadason
41FINANCIAL PLANNING
CURIOSITY IMPLANTED IN US
Curiosity has been implanted into human mind since the day he was created on the earth. Yes! Adam and Eve were curious to taste the forbidden fruit. The
same fruit which made Newton curious about “Gravity”.
While thousands of people saw apple falling from the tree, but only Newton asked “Why”? That curiosity impregnated within himself helped him to make wonderful discoveries about this universe and gave us laws of motions and calculus.
All the great inventions and discoveries have been made by men, by being curious about the thing they seek. I would say that CURIOSITY is the mother of all inventions and discoveries.
Even when we are few moths older child, we are curious to see colors, we are curious to move from one position to other, and after few months we are curious to speak by seeing what other speak, that curiosity makes us learn and grow stage-by-stage.
A curious mind is the key to success, whether you are a businessman, a marketing professional, a doctor, a teacher or you in any other profession. Learning and improvement starts when you are curious to know more about what you are doing and how to do it better everytime and thus improve your standard.
LAW OF FOCUSED CURIOSITY IN BUSINESS
Curiosity is the living force in all of us which pulls the desired things towards us.
g Image credit : Indian Space Research Organisation
ENORMOUS DISTANCES NEVER A BARRIERFOR CURIOSITY
| March 2015
INSPIRATIONAL • by Ganesh Murugan42
• In business you may be curious delete about customer satisfaction which leads to success of you company
• In work you may be curious to learn more and ask for more responsibilities related to your job so your success path would be smooth.
• For college assignments you may be curious to do innovative projects. Facebook,Ebay and Amazon.com came to this world out of to curiosity when doing a college project.
SUCCESS STARTS BY BEING CURIOUS
A curious mind will be able to see new worlds and possibilities which are normally not visible. They are hidden behind the surface of normal life, and only a curious mind could look beneath the surface and discover these new worlds and possibilities.
You may be a admin clerk in an office, but curiosity may lead you to start some thing innovative like an online business which could make you successful and wealthy that you could have not possibly imagined. Asking WHY & HOW, and tracking the postitive results will surely bring success onto your lap. But be careful that you are choosing the right area for your growth, your curiosity shouldn’t be a burden to you or your family that could affect your current pleasant life.
Story#1
There is the famous story that Newton was reading a book under a apple tree on the farm, when he saw an apple fall and wonderful questions arose in his mind. In that situation, most of us, either would have eaten or kept it aside, but not for people who could ask why? The curiosity that arose out
of him enable him to do wonderful researches to unleash the truths about universe.
• Why things fall, is there any way to prevent them?
• Why Sun, Moon and Stars doesn’t Fall?
• What attracts things down?
Newton spend years on experimenting to find results for the above questions, and found Law of Gravity. His curosity led to extensive research until the formulation of three Laws of Motion.
Curiosity is the living force in all of us which pulls the desired things towards us.
The important thing is not to stop questioning. Curiosity has its own reason for existing
-Albert Einstein
g CURIOSITY is the mother of all inventions and discoveires
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INSPIRATIONAL
INSPIRATIONAL
If he was not curious at that time, he couldn’t have his name to the laws. May be somebody else would have found it. But his curiosity at that instance and his continous research led him to wonderful discoveries about the universe and made it known to us all.
But am not telling you to go and do research, but be hungry to know more in all situations
• You can be curious to know more about a person for a better relationship, his/her likes and dislikes. The curiosity can be applied in any area of our lives. It gives success at the end, if it is properly utilized.
CURIOSITY MAKES US TO SEE LIFE IN A NEW DIMENSION
Newton, the genius of his time, has achieved as I believe the impossible in developing laws and theories that seemed practically impossible in his time. What drive him at that time was to continously do research and reveal the universal principals and laws to us.
Sheer curiosity and perserverence to complete the taken task and focused upon it until completion was Newton’s greatest strength. We may say that success highly depends on the following qualities:
• Focus
• Dedication & Time
• Plan and Organized
• Gaining Knowledge in relevant areas
• Learning from Others
• Constantly explore the unknown areas
Once we are curious about certain things we need to focus on that first to make that matter take some shape.Then we have to dedicate our time accordingly to learn more about the area which we are interested in. Once we have gained enough knowledge about the thing which we are interested, then we must try to implement it by proper planning. We have to keep track of the newly implemented idea or concept.
Success is within us and we have to build as we develop our muscles with regular exercises. If you want a six pack, you have to focus more to that part and learn the exercise related to it from the experts or from a coach who knows better than you. So in the same way your success muscle
gets stronger when you constanly exercise it and learn from success stories, biographies, seminars etc.
EXPLORE AND READ UNKNOWN AREAS
Everyone of us has more that enough time to schedule our duties,responsibilities and interests. But if you have not careful in planning then you will be like a machine Work...Home...Work...Home... kind of cycle.
Then life will be boring if you have a stereotype of activities.How to enrich our life with activities?
• Learn a new language or a musical instrument at weekends (after your business or office hours)
• Study books in some interesting areas which you have
never explored before
• Teach others which you have already learnt like
swimming, music, computers etc
• There are plenty of ways which you could find to make
our life useful to us and to other, not necessarily it should
invlove money. That is Success! When unknown people
tell your name for your work that you have contributed
that is Success!
| February 2015
Penned by Ganesh Murugan, MBA, PMP (IIT Delhi), PhD (Perusing) Business Analyst, Solution Architect and CEO of eSolutions Webbers Sdn Bhd
Skype : esolutions_ganesh
: ganesh murugan
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ANCIENT WISDOM • by Maran Nandan Sithambaram
Efficiency in action as guided in
Thirukural
Our success in life and business depends on how efficient we are in handling daily affairs. A goal oriented continuous action is the principles of management.
What constitutes efficiency? According to Thiruvalluar, efficiency essentially consists in a resolute mind. A resolute mind is paramount for success and other things come next. Thiruvalluar clearly says in Kural,
Thiruvalluar advices two principles of action should be followed as guidelines :
• One, a person should not undertake an action that cannot be successful; and the other,
• If things go wrong in the course of such an undertaking, one should not easily be perturbed, but ready to face those difficulties and challenges boldly and daringly.
Vinal thidpam enbathu oruvan manathidpam;
Matriya ellam pira
Ooruooral,uttrapin olgaamai,ivvirandin
Aaru enbar aainthavar kol
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ANCIENT WISDOM • by Maran Nandan Sithambaram
This article penned by Maran Nandan Sithambaram, LLB (Hons) ,(UK) CLP ,BA (Hons), (Malaya ) Dip.Edu. Dip. Translation , Dip. In law (Sydney). CEO and Principal Lawyer of Marsh Lawyers, Sydney, Australia. Mr. Maran Nandan is also an advocate and solicitor of High Court of Malaya.
He can be reached through phone or by email below:
+ 61413 990 550 [email protected]
ANCIENT WISDOM
This article penned by Maran Nandan Sithambaram, LLB (Hons) ,(UK) CLP ,BA (Hons), (Malaya ) Dip.Edu. Dip. Translation , Dip. In law (Sydney). CEO and Principal Lawyer of Marsh Lawyers, Sydney, Australia. Mr. Maran Nandan is also an advocate and solicitor of High Court of Malaya.
He can be reached through phone or by email below:
+ 61413 990 550 [email protected]
Success in business very much depends on our planning. Thiruvalluar states that It is always easy for anyone to formulate plans, however, it is only exceptional people with a resolute mind are able to carry their plans to fulfilment.
Next, Thiruvalluar guides us how such planning should be done. One should make plans with a clear mind and after having decided and launched such plan, one should stand firm in such undertaking and unmoved by problems and difficulties. At the time of difficulties, such person should avoid dilatoriness in action
In another kural, he outlined one will never obtain any benefits and be profited, if one fails to aim at efficiency in action . Valluar states that a man who does not cultivate the habit of efficiency in action will not make his mark in this world.
Further, Thiruvalluar writes that rather than being deceived by an appearance, one should judge men by their great strength and action. We should not judge men by the impressiveness of their external form. He compares this with the little axle-pin that keeps the wheels of the chariot in place, without which the chariot will never function. Likewise, the unimpressive external form of a person is negligible but resolute of mind and action matters.
In conclusion, a resolute mind to act efficiently, will drive one to a successful life. The importance Thirukural gives on efficiency in action is in line with Bhagavad Gita which describes efficiently in action as a yoga.
Soluthal yaarkum eliya;arivaamSoliya vannam seyal
Kalangaathu kanda vilaikan thulnagaathu Thookam
kadinthu seyal
Enaithidpam eithiyak kannum vinaithidpam Venddarai
vendaathu ulagu
Uruvukandu ellamai vendum; urulperuntherku Achaani anaar
udaithu
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ANCIENT WISDOM
Ajaypal Singh BangaAjaypal Singh Banga the only Sikh Indian in a Fortune 500 company . The President and Chief Executive Officer of MasterCard Inc. tripled MasterCard's stock to $70 a share, while net income increased from $5.5 billion in 2010 to $8.3 billion in 2013.
So one of the biggest things we did was to
redefine our competition. Once we got that right, then the vision of the
company became very clear
“You can change the entire feel and look of a company by making
people realize that they’re not empowered to say no. They’re empowered to say
“yes, if.” It changes the bureaucracy, the culture, the passion, the purpose,
it changes everything.”
Cash is the dirtiest secret of the modern economy. It belongs to a 200-year-old economy. It’s being allowed to play a role
because it suits vested interests
There is no such thing as a deal you do not want to win: There is only a deal that “the
other guy won and you lost.”
QUOTES
1 2Challenge
Conventional Wisdom
Know When to Leave
5 Key Management Philosophy
All it took to change their lives, was the money to start a small business such as selling fruit or
newspapers, or running a grain machine
I cannot understand why the world doesn’t get it: If
you get these women to be economically and socially
independent, you can transform the future of
many people in this world
| March 2015
48
Remember cash is the friend of corruption. Cash is not the friend of the person who’s trying to be straight
with what they’re trying to do
Rarely are you going to have perfect information in the
careers that you’re going to have. The willingness to take a
decision at that time will depend greatly on your ability to take a
thoughtful risk, which ultimately depends on your courage
If you have good news for me, take the stairs…if you have bad news, take the elevator.” I need to know that quickly, so I can do
something about it
QUOTES
3 4 5Don't Be Afraid to
Reorder the Chain of Command
Stay Humble
Look for Opportunities Where Others
Have Not
March 2015 |
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Have you cried in the office washroom or at a meeting with your co-workers or boss? Have you been in a situation of having to awkwardly console a co-worker
in fear and tears? Or maybe you’ve been the offender or victim of raging, finger-pointing, temple-pulsing intense anger? Well, it’s not so surprising if you’re nodding ‘yes’. Despite the corporate predicted norm to check your emotions at the door; rages, annoyance, frustration, tempers and tear ducts continue to awfulize in workplaces everywhere. We’re all human beings, after all. Emotions were developed as survival mechanisms and are hardwired into our system, just like metabolic processes and muscular reflexes.
Emotions are inner messages. They bring your attention to something. It’s not that emotions have no place in the workplace; constructive emotions can be encouraging and motivating. But negative intense emotions can present themselves at work and block effective communication and hinder problem solving.
We've all been in one of these or similar situations before. You know, when your boss criticizes your performance or shoots your idea down or someone constantly correcting your grammar; or your favorite project is cancelled after weeks of hard work; when a customer yells at you unfairly; when your co-worker is laid off suddenly; or your boss assigns you more work when you're already overloaded.
Managing Your Emotions at Work
LIFESTYLE • by Thevi Sinnadurai
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March 2015 |
In your personal life, your reaction to displeasing and stressful situations like these might be to start shouting, or to go hide in a corner and feel sorry for yourself for a while. But at work, these types of behavior could seriously harm your professional reputation, as well as your productivity.
Examples of negative emotions are anger, frustration, sadness, jealousy, guilt, grief, fear, shame, hurt and guilt. We can’t change the way others feel and act; we can only change the way we react to them.
Know what causes your negative emotions, and which types of feelings you face most often. When those emotions begin to appear, immediately start your strategy to interrupt the cycle. The longer you wait, the harder it will be to pull yourself away from negative thinking.
Why are we focusing only on negative emotions? Well, most people don't need strategies for managing their positive emotions. After all, feelings of joy, happiness, confidence, excitement, compassion, or optimism usually don't affect others in a negative way. As long as you share positive emotions constructively and professionally, they're great to have in the workplace!
Here are some suggestions for dealing with negative emotions:
1 Stop And Evaluate
• Acknowledge the emotion you are experiencing. It’s important to be aware of your own emotional response patterns.
• One of the best things you can do is mentally stop yourself, and look at the situation.
• Ask yourself why you feel this way.
• Write it down, and be specific.
• Then think of one positive thing about your current situation. For instance, if your boss is late for your meeting, then you have more time to prepare. Or, you could use this time to relax a little.
2 Find something positive about the situation
• Thinking about a positive aspect of your situation often makes you look at things in a different way.
• This small change
in your thinking
can improve your mood. When people who are causing you frustration, they're probably not doing it deliberately to annoy you.
• And if it's a thing that's bothering you, it's certainly not personal! Don't get mad, just move on.
3 Try deep-breathing exercises
• This helps slow your breathing and your heart rate.
• Breathe in slowly for five seconds, then breathe out slowly for five seconds.
• Focus on your breathing, and nothing else.
• Do this at least five times
4 Write down your worries in a worry log
• If you find that worries are churning around inside your mind, write them down in a notebook or "worry log," and then schedule a time to deal with them.
5 Record your thoughts
• Write down exactly what is making you unhappy.Is it a co-worker? Is it your job? Do you have too much to do?
• Once you identify the problem, start brainstorming ways to solve it or work around it.
• Remember, you always have the power to change your situation.
6 Smile!
• Strange as it may sound, forcing a smile or even a grimace onto your face can often make you feel happy (this is one of the strange ways in which we humans are "wired.") Try it – you may be surprised!
• The steps I've outlined in this article may sound simple, but they take practice and discipline.
LIFESTYLE
To be angry is to revenge the fault of others upon ourselves.
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Exercise: Get In the Right State of Mind (Relaxation)
1. Sit in a comfortable chair. Make sure the place is quiet. Turn off your phone.
2. Take a few deep breaths and stare straight in front of you.
3. Find a spot on the wall or ceiling ahead of you and focus your attention on the spot. Begin starring at it.
4. Continue to focus all your attention on this spot. Keep your gaze fixed on it at all times. Avoid blinking. You may find the spot getting fuzzy, blur or distorted.
5. After a few moments, you will find your eyelids beginning to feel heavy as you continue to focus on the spot. (make sure you are focusing on the same spot all the time).
6. Keep your breathing deep and even. Gently close your eyes. As you close your eyes enjoy the feeling of relaxation.
7. Feel the wave of relaxation flowing down your body from the top of your head to the tip of your toes.
8. Now that you are comfortably relaxed you can create your positive emotions.
9. Think of a time in the past when you felt good or most confident or happy or joyful or of any positive mental state that you want to create.
10. Take yourself back to that time. See all that you saw. Listen all that you heard. Feel the feelings that you felt back then. Make a picture of it all in your mind.
11. Become aware of what you are seeing in the picture and make it bigger. Turn the colours up, brighter, bolder, and stronger. If there are any sounds in this memory of yours turn it on louder.
12. Make that picture bigger and bring it close to you.
13. See yourself in that picture.
14. Become the you and enjoy this moment once more.
15. As you continue to enjoy this picture with you in it, notice where in your body are you experiencing this good feeling. Locate those feelings and allow it to spread throughout your body from the top of your head to the tip of your toes.
16. Run through this picture and feelings and sounds several times. As it becomes stronger and stronger just squeeze the thumb and your finger together. (Preferably of your dominant hand).
17. Squeeze them together capturing all of that good feelings.
18. Release your fingers. Relax and slowly open your eyes.
19. Whenever you want this good feeling all you have to do is to squeeze the thumb and middle finger of that dominant hand that you had anchored for that good feeling.
20. Running through this exercise several times a day will ensure that your ‘feel good anchor’ will become more powerful.
Thevi Sinnadurai is a Practitioner in Clinical Hypnosis, Practitioner in Cognitive Behaviour Hypnotherapy, NS-NLP Master Practitioner, Certified Law Of Attraction Trainer and Emotional Freedom Technique Practitioner (EFT). She can be reached at:
LIFESTYLE
BRAIN TREASERName Two MIB BRAND Award Recipients?
1. …………......................................………………
2. …………………………......................................
Email your answer to [email protected] : Check MIB Facebook
"One of the great things about books is sometimes there are some
fantastic pictures." - George W. Bush
“A line is a dot that went for
a walk.” - Paul Klee
“I would have written a shorter letter, but I
did not have the time.” - Blaise Pascal
Boss you told practice makes perfect but no one in here perfect.
What is the point of practicing?
A company chairman told his subordinates to ”Dream of a better
tomorrow.” A few days later, in a report to his superior he wrote “Boss, I had a dream where chickens cross the road
without being questioned about their motives. “
Two female colleagues talkingabout their work. One of them said, “I’ve lost 5kgs lately and I’m so down lately.” When her
friend suggested quitting her job. ” Oh! Not yet, let me lose least another 10 kgs first.”
My company promoted me as the director looking after product efficiency.
When I got my new business cards, the acronym read DOPE.
Did you know God madeEarth and heaven and the rest he
subcontracted to China.
Looking at the volatile share market, I decide to sleep like a baby last night. I woke up every
hour and cried.
A company CEO offers half a month bonus to employee that come
up with a plan to save money. A young accounting executive won
the bonus for his suggestion to limit future reward to $10.00 per idea.
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March 2015 |
BUSINESS JOKES
MALAYSIAN ECONOMY REGISTERS HIGHER GROWTH OF 5.8 PCT IN Q4 2014
The Malaysian economy registered a higher growth of 5.8 per cent in the fourth quarter of 2014, compared to the 5.6 per cent recorded in the third quarter of the year, said Bank
Negara Malaysia (BNM). This brings the full year gross domestic product (GDP) growth to 6 per cent as against 4.7 per cent in 2013, said Governor Tan Sri Dr Zeti Akhtar Aziz. She said the firmer growth in the quarter was mainly driven by stronger private sector spending due to an improvement in private sector activity. "On the supply side, growth in the fourth quarter was supported by all the major economic sectors," she added, in announcing the fourth quarter economic growth results here today.
Key Statistics Released by Bank Negara Malaysia
Private investment 11.2% during Q4 2014
Services sector 6.4% during Q4 2014
Manufacturing sector 5.2% during Q4 2014
Private consumption 7.8% during Q4 2014
Unemployment rate 2.8% during Q4 2014
Inflation 2.8% during Q4 2014
Foreign direct investment (FDI) RM35.1 billion for 2014
Trade surplus RM21.5 billion in 2014
Ringgit depreciated against US Dollar 6.4 % during Q4 2014
LIFE INSURANCE COVERAGE GROWS 6.9 PER CENT TO RM1.17 TRILLION
The life insurance industry recorded a 6.9 per cent growth in insurance coverage amounting to RM1.17 trillion in 2014 compared to RM1.09 trillion in 2013. Life Insurance Association of Malaysia (LIAM) said in a
statement that the sum assured per capita in 2014 also recorded an increase to RM38,449 from RM36,387 in 2013.LIAM President Vincent Kwo said the healthy performance of the life insurance industry reflected the increase in awareness among the rakyat on the importance of insurance protection. Kwo said the current penetration rate of 54 per cent was considered low and there were more opportunities for insurers to reach out to urban, suburban and rural areas. "The strong fundamentals of the Malaysian economy will continue to boost the growth of the life insurance industry. It is expected that 2015 will continue to chart a robust strong single digit growth," he said.
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| March 2015
MALAYSIA BUSINESS NEWS
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March 2015 |
CRUDE PALM OIL TAX KEPT ZERO FOR MARCH
Malaysia has kept tax on exports of crude palm oil at zero for March, a government circular showed today, extending a duty-free policy held since October. The
move, which is likely to underpin prices, comes as a surprise as Malaysia’s plantation industries and commodities minister said last week the country was planning to resume taxing exports from March. The rate was scrapped from October to December, and later extended to end-February. Malaysia, the world’s second largest palm oil producer after Indonesia, calculated a reference price of RM2,232.88 per tonne for March crude palm oil, effectively incurring an export duty of zero percent. Increased global edible oil supplies and slowing demand have pressured palm oil prices which dropped 15% last year. Authorities in Indonesia and Malaysian, which account for 85% of global palm oil production, are giving financial incentives in a bid to boost demand and support prices of the tropical product. Indonesia has approved a threefold increase in biodiesel subsidies which is likely to take effect next month.
JOHOR GOVT WILL HELP KMJ SET UP COOPERATIVE
Johor Menteri Besar Datuk Seri Mohamed Khaled Nordin said the state government would provide funds for the local media association to set up its own cooperative. "The state
government sets aside RM50,000 annually for Kelab Media Johor (KMJ) to carry out its activities. "We are also willing to provide additional funds to assist KMJ, such as in setting up a cooperative for its members' benefit," he said while opening the club's annual general meeting here last night. Mohamed Khaled said the state government appreciated the role played by KMJ in expounding the government's aspirations and programmes to the people. In this regard, the rapport between the state government and KMJ must be strengthened for the sake of the state's development," he said.
RM140 MILLION TO DEVELOP TOURISM INFRASTRUCTURE UNDER LANGKAWI GEOPARK BLUEPRINT
Almost RM140 million has been spent for the development of tourism infrastructure under the blueprint to empower the position of Langkawi as a geopark, said Langkawi
Development Authority (LADA) chief executive officer Tan Sri Khalid Ramli, announced. He said the infrastructure development included more than RM80 millon for the building of a new jetty, here besides the construction of a road in Cenang and improving facilities at the airport. "We hope that with continuous efforts the Geopark in Langkawi can become one of the top destinations," he said when opening the Kilim Karst Geoforest Park Business Complex at the Kilim Jetty, here. He said the commercial complex worth RM3.1 million would also become part of LADA's efforts to further improve facilities for the local residents in Kilim to carry out their businesses and subsequently increase their income. "They represent our efforts to further enrich the experience of visitors to Langkawi," he added.
MALAYSIAN BANKS PROFITABILITY FIRST LINE OF DEFENCE AGAINST RISKS
The outlook for Malaysian banks this year is certainly going to be stable with their strong profitability providing a good first line of defence against risks, said Moody's Investors Service.
Its vice president - senior credit officer, financial institutions group, Eugene Tarzimanov, said Malaysian banks were also generally well-capitalised, with low non-performing loans (NPLs) and all these acted as solid capital buffers against risk. "Malaysian banks have solid capital buffers and low NPLs, and the credit growth is moderating only due to macro headwinds," he told a media briefing on Moody’s 2015 Outlook for Malaysian Sovereign, Banks and Corporates. Deposit-based funding profiles and low reliance on market funding had supported Malaysian banks' liquidity and funding profiles, he said. In terms of creditworthiness, Tarzimanov said,
MALAYSIA BUSINESS NEWS
Malaysian banks were now ranked second in Asean, and fifth in Asia. Malaysia's Basel III implementation is mostly in line with global peers, hesaid, with capital rules in Asia generally stricter than Basel's. Tarzimanov said he expected local banks to register lower profits this year due to higher loan-loss provision and low net interest margin. The international rating agency last week affirmed Malaysia's bond and issuer rating at 'A3' with a positive outlook. The 'A3' rating was based on the progress in Malaysia's fiscal reforms and ongoing deficit reduction, credit concerns relevant to the rating action, coupled with fundamental strengths that remained intact.
MALAYSIA RANKES FOURTH HIGHEST IN TERMS OF PERCENTAGE OF DIGITAL NATIVES GLOBALLY
Malaysia is ranked fourth highest in terms of percentage of digital natives globally, as more than 70 per cent of youth had at least five years Internet exposure, according to 'Measuring the Information
Society 2013’ report by International Telecommunication Union (ITU). MDeC Youth Division Director, Sumitra Nair, said the current digital competency of Malaysian youth would continue to greatly impact the workplace of the 21st century. "This advantage, when harnessed appropriately, will serve to steer the nation towards becoming a fully-developed digital economy, with the youth continuing to play a leading role in this," she said.
EPF TEAMS UP WITH GOODMAN TO DEVELOP RM1.4 BLN LOGISTICS FACILITIES
The Employees Provident Fund (EPF) has signed a joint venture agreement with Australia's Goodman Group to develop
logistics facilities in Malaysia with a total development value of RM1.4 billion. EPF Deputy Chief Executive Officer for Investment, Mohamad Nasir Ab Latif, said the 50:50 joint venture was to develop facilities such as warehouses in the Klang Valley and Johor, especially in the Iskandar region, "The initial investment will be US$100 million (RM360 million) each," he told a press conference after the signing of the three-year agreement here today. Nasir said there would be about eight projects within three years with expected internal rate of return (IRR) of 15 per cent in five to six years. "We are confident to achieve this. This is the third collaboration we had with Goodman Group. "The first partnership in 2012 focussed on assets in Australia and in 2013 it was in Germany," he said. As at Dec 31, 2014, real estate and infrastructure accounted for 3.01 per cent of EPF's total investment assets and contributed RM1.39 billion in investment income, an increase of 22.3 per cent from 2013.
FARLIM GROUP KICKS OFF ASEAN ECO-CITY PROJECT IN CHINA
Property Developer Farlim Group (Malaysia) Bhd will spend at least US$15 billion to build the Asean International Eco-City in the northwest Shandong province of China. Its
chairman and chief executive officer, Tan Sri Lim Gait Tong said the 10.5 sq km eco-city would serve as a platform of mutual exchange between entrepreneurs and peoples of Asean and China. He said 11 cross-boarders economic area projects were being planned for the city in Qihe county, 25km from Jinan, the capital of Shandong, and the development would involve companies from Asean and China. “Once the projects are fully implemented, they are expected to generate business opportunities worth US$51 billion for both Asean and China by 2025,” he said, adding the projects would create over 250,000 jobs. The city will house an industrial exhibition centre; businesses ranging from wholesale and retail trading, digital docking, hardware/software communication construction industry, business services, tourism, medical and medical tourism to finance and insurance; higher education and training facilities, food safety and certification (including halal certification); and the China-Asean cultural exchange city.
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| March 2015
MALAYSIA BUSINESS NEWS
STRONG DEMAND FOR DAIRY PRODUCTS IN MALAYSIA
Dairy Australia says, the mushrooming number of international cafes, bakeries and western food stalls in the country in recent years shows the rapid growth in the local food industry and consequently stronger demand for dairy‐based products in Malaysia. Peter Myers, international trade and development manager of the national services body for dairy farmers and the industry, said he expects the export value from Australian Victoria state to the Malaysian market to grow 34 per cent in the 2014/2015 season over that of 2013/2014. Victoria's exports of dairy‐based products for the 2013/2014 season to Malaysia stood at 35,000 tonnes valued at AU$135 million (AU$=RM2.813). "The higher projection for the season is also partly due to the Malaysia‐Australia Free Trade Agreement (Mafta) and ASEAN-Australia-New Zealand FTA, which provide tariff‐free status on liquid milk, thus improving market access for a range of products including dairy." Overall, Malaysia is among Australia's top five markets by value for 2013/2014 at AU$217 million and fifth in terms of volume at 51,501 tonnes. Exports to Malaysia accounted for sevenper cent of Australia's total exports of dairy‐related products.
INDUSTRY BODIES URGED TO BECOME STANDARDS DEVELOPMENT AGENCIES
The Department of Standards Malaysia hopes more industry organisations will come forward to be certified as standards development agencies (SDAs) to maintain and enhance the level of
quality in their respective industy. Since the Standards of Malaysia Act was amended in 2012, five agencies and industrial associations have been appointed as SDAs, in addition to SIRIM Bhd, which took on the role single‐handedly in the past. These SDAs help administer and manage standardisation activities within the scope of the respective industrial standards, said Datuk Fadilah Baharin, the director‐general of the Department of Standards Malaysia, the national standards and accreditation body. She said as the economy and industry grow further, SIRIM alone cannot be the sole quality standards developer. "We need SDAs in specific subject areas to assist Standards Malaysia in developing standards," said Fadilah. Certified SDAs in Malaysia include the Malaysian Institute of Chemistry; Malaysian Timber Industry Board; Malaysian Association of Standards Users, which deals with consumer interests; Malaysian Plastics Manufacturers Association (plastics and plastics products); and the Malaysian Rubber Board (rubber and rubber products). To qualify as an SDA, the agency or industrial association should be free of any conflict of interest and can adhere to Standards Malaysia's criteria for the appointment and accreditation of SDAs on a continuous basis, said Fadilah.
DIGI APPOINTS MURTY AS CEO
DiGi.Com Bhd today announced the appointment of the current Chief Operating Officer, Albern Murty, as the company’s new Chief Executive Officer, effective April 1, 2015. Murty will replace Lars-Ake Norling, who will be appointed Chief Executive Officer of dtac (Total Access Communication PCL), Telenor Group’s business unit in Thailand. Telenor Group is a 49 per cent shareholder of DiGi. "Murty has grown through the ranks of DiGi and has contributed strongly to the company’s relentless customer focus and its innovative Internet for All approach," said Chairman of DiGi and Head of region Asia, Telenor Group, Sigve Brekke, in a statement. He said Murty has played a central role in driving the company’s operations and results in his time with the senior management team at DiGi, and was a proven and capable business leader.
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MALAYSIA BUSINESS NEWS
ANCIENT MEDICINE • by P. Annantharajan
SINUSITIS
Sinusitis is one of the most prevalent chronic illnesses worldwide, affecting persons of all age groups. More than three million
Malaysians are estimated to suffer at any one time (the Star,2012). Most cases of chronic sinusitis are continuations of unresolved acute sinusitis; however, chronic sinusitis usually manifests differently from acute sinusitis.
RELIEF SINUSITIS WITH HEMOPATHY
COMMON SINUSITIS SYMPTOMS
• Mucus – congestion in the nose
• Severe headaches
• Pressure in the head
• Running nose and inflamed nasal passages
• Pain in the face or behind the eyes
• Loss of smell
• Sore throat
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ANCIENT MEDICINE
Despite the increasing amount of scientific evidence that sinusitis is the fifth leading diagnosis treated with antibiotics, only 21% of adults receiving antibioctics for this condition demonstrate very little clinical benefit. In the United States and western Europe, there has been an explosion in the use of alternative medicine in for sinusitis relief over the last decade.
The causes of sinusitis include infectious and allergic components but also involve environmental conditions, such as depression.
HEMOPATHY
A German doctor and chemist, Samuel Hahnemann (1755-1843), is credited with founding homeopathy. He is believed to base his theory from the Law of Similars that has been documented since at least the time of Hippocrates ( 400 B.C.), the father of medicine.
Practitioners of homeopathy point to two theories :
1) “like cures like”—the notion that a disease can be cured by a substance that produces similar symptoms in healthy people
2) “law of minimum dose”—the notion that the lower the dose of the medication, the greater its effectiveness.
Homeopathic remedies are derived from substances that come from plants, minerals, or animals, such as red onion, mountain herb, crushed whole bees, white arsenic, poison ivy, belladonna and stinging nettle. Homeopathic remedies are often formulated as sugar pellets to be placed under the tongue; they may also be in other forms, such as ointments, gels, drops, creams, and tablets. Treatments are “individualized” or tailored to each person.
HOMEOPATHIC TREATMENT FOR SINUSITIS
Homeopathic treatment is fast acting and effective in acute and chronic sinusitis. The treatment of sinusitis does not only drain the sinuses and kill the germs but it also acts on the root cause thus preventing recurrences.
Those facing recurring sinusitis should take either Sticta Pulmonaria or Kalium iodatum as soon as your first symptoms of a cold and a rhinitis occur. You need Sticta if you have a sensation of fullness and pain at the root of the nose, as if you were wearing tight-fitting glasses. You also have a constant need to blow your nose but no discharge comes out. Kalium iodatum patients have the opposite symptoms - copious watery discharge from the nose, burning tears, puffy nose and eyes, frontal headache.
THE COMMON CAUSES OF SINUSITIS
• Viruses
• Bacteria
• Fungus
• Excessive nose blowing
• Foreign objects in nostril
(especially in children)
• Scuba diving
• Side effects of certain drugs
• Tooth caries
• Allergies
By similar things a disease is produced and through the application of the like is cured.”
~ Hippocrates
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A study published in Indian Journal of Research in Homeopathy identified more useful medicines namely Pulsatilla, Natrum mur., Kali bichromicum, Silicea, Belladonna, Rhus toxicodendron, Natrumsulphuricum, and Lachesis.
• Pulsatilla was frequently indicated medicine in this study. It had particular affinity for maxillary, frontal and fronto-maxillary sinusitis; it emerged as useful medicine when the prescribing symptoms consisted of thirstlessness, thick, purulent, greenish yellow catarrh.
• Kali bichromicum was the next most frequently indicated medicine in frontal sinusitis with pain in supraorbital region, root of nose and scanty, sticky and purulent nasal discharge.
• Natrum mur. was another medicine which was in parallel to kali bichromicum, indicated in chronic frontomaxillary sinusitis with supraorbital headache and aggravated around 9-10 am. Natrum sulph like Natrum mur. also acted well in chronic fronto maxillary sinusitis but was worse during damp cold or monsoons.
• Lachesis was useful in left sided chronic maxillary sinusitis, with dryness of mouth during sleep, nasal obstruction causing choking at night.
• Malaria officinalis had favourable action on acute frontal-maxillary sinusitis in patients with constitutional symptoms like malaise, fever and thirst for cold water.
• Natrum ars was used as specific medicine for sinusitis of chronic origin when there was obstruction, post nasal catarrh and pharyngeal congestion, aggravated in damp cold weather.
• Hepar sulph. is another medicine which was indicated for acute sinusitis (frontal/ fronto-maxillary) becoming chronic with passage of time and it was associated with allergic rhinitis. These patients were much sensitive to cold.
• Mercuriussolubilis had favourable action on frontal sinusitis which was worse at night with nasal obstruction. Typically the patient had moist, thickly coated indented tongue with foul breath.
• Calc.sulph. was indicated in chronic sinusitis with thick yellow discharge associated with burning in palms and soles. The symptoms were better from washing with cold water.
Lesser known medicines were also found efficacious and their indications are as follows:
LEFT:
Pulsatilla Flower
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ANCIENT MEDICINE
P. Annantharajan, NDA Practitioner and Natural Treatment Health consultant based in Klang. He can be reached at
annantha.rajan
• Cassia sophera Q - found to be useful when prescribed on the presenting symptoms of blockednose causing difficult breathing, sneezing in bouts. The medicine was given to patients suffering from chronic sinusitis of fronto-maxillary origin after the acute attack was abated.
• Sabadilla30- indicated mainly in left sided sinusitis associated acute rhinitis with sneezing, and getting relief from hot fomentation.
SINFRONTAL A BREAKTHROUGH IN HOMEPATHIC MEDICINE
Sinfrontal is a complex homeopathic remedy that contains Cinnabaris , Ferrum phosphoricum , Mercurius solubilis . It is commonly used in Germany for a variety of upper respiratory tract infections and has shown promise as a treatment for sinusitis without the need for antibiotics. Unlike many other homeopathic or herbal medications, the efficacy and safety of Sinfrontal has been demonstrated in a number of clinical studies of patients with sinusitis. (Kyra CK , University of Cologne,Germany) An economic analysis demonstrated that Sinfrontal can lead to substantial cost savings with markedly reduced absenteeism from work.
PATIENT SELF-TREATMENT
Lifestyle modifications can also be conducive toward achieving optimal sinus health and function. These modifications include regular aerobic exercise, adequate hydration, steam inhalation, stress management, and good-quality sleep. Minimizing exposure to pollution, smoke, and environmental toxins as well as incorporating nutritional changes, such as consuming an anti inflammatory diet and avoiding dairy products, refined sugars, and processed foods, are important. A regular spiritual practice, such as prayer, is also beneficial, along with anger management and attitudes of forgiveness, gratitude, and optimism.148 Self-acupressure of certain acupoints can also be helpful to reduce sinus-related symptoms ( Dr Malcolm B. Taw, UCLA Center for East-West Medicine, Department of Medicine).
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ANCIENT MEDICINE
ARE MALAYSIAN INDIAN BUSINESSES LESS SUCCESSFUL? A REVIEW.
Malaysian government official data clusters almost all registered Malaysian Indian Businesses into the micro business
category i.e. annual sales turnover of RM300, 000.00. Well, I can hear your inner voice grumbling, how can that be? We, the Malaysian Indian Business community need to accept the true fact and identify why our businesses less successful. Over the past 6 months, Malaysian, Indian Business Magazine or MIB as it's popularly known, talked to entrepreneurs, professionals, political leaders and people on the ground to identify the cause of our so called inability to succeed in business. The factors listed are examples that are and will continue to curse our businesses:
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EDITORIAL
1. All Is Myself
An entrepreneur should understand the life of a business depends on the volume of sales and it doesn’t happen as those days. In the past you could spend your time smiling and dialing and that might have worked. Today too many people are too busy to listen to a pitch. Cold calls are a low probability and only worth your time if your time isn’t worth very much. Thinking you can do it all by yourself will further exaggerate your worthiness. Your worthiness goes beyond the sales output, a lot of Malaysian Indian Business owners or even professionals reluctant to call on field specialized to solve problems faced. Just think the volume of business could have transacted or put effective time in preparing tender documents instead of trying to repair your photostat machine because it costs RM100.00 to call for service.
2. Talking Too Much
Some Malaysian I n d i a n e n t r e p r e n e u r s think that the best salespeople are the best talkers. That’s not true. The best sellers are great listeners and they use silence well. Silence is really golden in selling. Use it when you want your customers to talk more. Silence is appropriate when you are listening so you don’t interrupt your customer. It’s appropriate to use when you think about what your customer is saying. This will enable you to give him a thoughtful response.
3. Doing The Same Things In All Situations
One of the predictors of success is flexibility or the ability to do different things in different situations. Some entrepreneurs start their sales calls the same way and act the same way
with every type of customer. Customers are different and the businessmen or salesperson needs to respond to the type of customer he is talking to. It is appropriate to get right down to business in a sales call with an assertive, more emotionally controlled customer. It is inappropriate to do the same with a customer who is less assertive and more responsive.
4. Expecting Things To Happen Now
Patience is a virtue that any businessman, needs. Some things do take time. If you want a piece of business badly enough you may have to be persistent and try to make contact
over a period of months. Be patient and don’t give up if the account i s w o r t h i t . Negotiating may take time and impatience to close a deal can cost you money. S a l e s p e o p l e have to be able to deal with ambiguity and the unknown. Your patience is your power w h e n i t ’ s combined with persistence.
5. Not Telling The Truth
Businessman needs to be honest, not only with customers, but with themselves as well. Some businessman fool themselves that a sale is going to happen when the odds are it’s not. They tell their subordinates the business will close soon because they hope it will. If a customer is still thinking when they could have said yes, it’s time to move on to the next account. Malaysian Indian Entrepreneurs need to pay a high attention in being truthful and not pawn it just for the sake of creating business turnover to cover monthly expenses. Lots of our entrepreneurs try to work beyond their financial capabilities due to the eagerness of moving away
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EDITORIAL
from financial constraints. The failure rate of such attempt is high while creating fear among our own businessmen to award jobs within inner circles. Be honest with yourself. If you need to let go, let go and get on to the next prospect.
6. Not Taking Good Care Of Customers We wrote Your Customer Your Wife in our December 2014 issue. Building a customer relationship is similar to building a marriage where the business is the husband while the customer is the wife. Have you been faced with a situation where you assumed your relationship with a customer was going strong, only to find out they have an eye on a competing vendor? Selling isn’t asking a question to find objections and then beating your customer into submission for each objection. If it’s not a reasonable fit, forget the sale. Our entrepreneurs need beyond just closing sales that benefits and enhance value of your wife.
7. Thinking It’s Easy
Our entrepreneurs think business is easy only because they are great salespeople and they seen other successful people make it look easy. Our interviews with a couple of businessmen whose turnover more than RM100million per annum. They say, never prepare for a sales call. What does that mean? Selling seems easy only you don’t know what you’re doing.
8. We Don’t Utilize Government Agencies
We should have put this as the prime factor of why Malaysian Indian Business remains at micro level. We have two ministries directly involve in trade, while the Ministry of Finance has various agencies in uplifting the economic standing of Malaysian. Almost each and every minister supports entrepreneur development either directly of indirectly. What we do? We go to the agencies, ask for FREE MONEY , Grant or loan, all without proper documentations. We blame or compare with others but fail to see why another group of minority doing better than us. Did you know the government offers assistance to market your business, help your to create brand, help you to establish a reputable standard, assist your improve management and much more. So, do take some time to agencies like MATRADE, PNS, SMECORP, MIDA, SMEBANK, SIRIM etc to ask them how they can help your business to grow.
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EDITORIAL
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