ASK Pak Deh

Why Must You Buy Life

2012-02-13T00:35:00.004+08:00

Lesson 1
Life is short – Humans have much longer life spans than fruit flies, but do any of us really know how long we'll live? The truth is, none of us is promised a tomorrow. So if you have loved ones who would suffer financially if you were to die tomorrow, don't wait another day. Now is the time to purchase life insurance.

Lesson 2
Don't procrastinate – Let's face it. We all procrastinate. It's human nature. But when it comes to something as important life insurance, fruit flies know better than we humans. They're born knowing that life is short, so they act fast to protect the ones they love with life insurance.

Lesson 3
Don't gamble with your family's future – Cost is the most frequently cited reason for not buying life insurance. People say it's too expensive, but that's a common misconception. The fact is, life insurance has never been more affordable. The cost for basic term life insurance has fallen by about 50 percent over the past 10 years. When people say it's too expensive, what they really mean is that they're prioritizing other purchases over life insurance. If you need life insurance and don't own any, each day you're gambling with your family's financial future. Make today the day you stop being a gambler

No Word Just Tears

2012-02-12T16:02:00.000+08:00

The Price Of Greed

2012-02-08T14:40:00.001+08:00

Wu Ying, a tycoon once listed among the richest women in China, has come to her last hope of survival. The former 31-year-old billionaire, now on death row, is waiting for the top court's final review of her capital sentence, which was upheld by a local court last month, a few days ahead of the Chinese New Year.

Shen Ziming, the presiding judge of the case from the High People's Court of East China's Zhejiang province, told China News Service that the court endorsed the previous judgment after finding the defendant illegally raised up to 770 million yuan (US$122 million) from 11 lenders with the promise of high returns from 2005 to 2007, and hence should be "severely punished" for the apparent Ponzi-like scheme, as she has "brought huge losses to the nation and people with her serious crimes".

Shen said Wu concealed her debt to lenders and pretended to be financially powerful by "showing off jewelry and registering nominal companies".

Attitude Over Skill

2012-01-27T13:50:00.002+08:00

Why do so many fail within the first 18 months of taking a job?
When our research tracked 20,000 new hires, 46% of them failed within 18 months. 89% of the time - new hires failed due to attitudinal reasons and only 11% of the time for a lack of skill. The attitudinal deficits that doomed these failed hires included a lack of coachability, low levels of emotional intelligence, motivation and temperament.

Are technical and soft skills less important than attitude?
Soft skills are the capabilities that attitude can enhance or undermine. For example, a newly hired executive may have the intelligence, business experience and financial acumen to fit well in a new role. But if that same executive has an authoritarian, hard-driving style, and they’re being hired into a social culture where happiness and camaraderie are paramount, that combination is unlikely to work. Additionally, many training programs have demonstrated success with increasing and improving skills—especially on the technical side. But these same programs are notoriously weak when it comes to creating attitudinal change. As Herb Kelleher, former Southwest Airlines CEO used to say, “we can change skill levels through training, but we can’t change attitude.”

How will the hiring landscape be different in 2012 and beyond?
We can find the skills we need. The lack of sharp wage increases in most job categories is further evidence of the abundant supply of skills. Technical proficiency, once a guarantee of lifetime employment, is a commodity in today’s job market. Attitude is what today’s companies are hiring for. And not just any attitude; companies want attitudes that perfectly match their unique culture. Google and Apple are both great companies, but their cultures are as different as night and day.

As the focus on hiring has shifted away from technical proficiency and onto attitude, it’s precipitated a lot of tactical changes in how job interviews are conducted. For example, the new kinds of interview questions being asked are providing real information about attitude instead of the vague or canned answers hiring managers used to get. Smarter companies are less likely to rely on the old standby questions like “tell me about yourself” and “what are your weaknesses?” Companies now have answer keys by which to accurately rate candidate’s answers. Interviewers can listen to candidates’ verb tense and other grammar choices and make accurate determinations about someone’s future performance potential.

Where are companies finding candidates with the right attitudes? The majority is using social networks but is that even working?
Companies are not getting high performers from the usual sources. They’re hiring in, what we call, the “Underground Job Market”. According to our latest research (outlined in Hiring for Attitude), companies are finding their best people through employee referrals and networking. They have started to realize that the high performers they already have fit the attitude they want and that these are the people they should be asking to help find more people just like them.
Given that data, it seems like candidates should be networking in every way possible—including social networking. But one thing that people misconstrue is what networking is actually about. Too many people are not networking; but rather are ‘need-working,’ as in: “I need work, or a lead, or an introduction from you”. Usually people on the receiving end of this dodge those inquiries. Job seekers need to ask themselves ‘how can I add value to this person’ and then go from there.

Attitudes change as workforce dynamics change. What happens in this case?
The attitudes for which organizations should hire are not abstract or based on a theoretical ideal, but rather are just the characteristics that separate high and low performers.

Southwest, Google, Apple, and The Four Seasons are all great companies and they all hire for attitude. Their high-performing employees live their attitudes every day and it’s a big part of what makes these organizations so successful. Low performers struggle with those attitudes are typically rejected by the culture. But those companies’ attitudes are very different from each other. They couldn’t successfully emulate each other’s attitudes. Every company has to discover the attitudes that make their organization unique and special. And even if the company’s attitudes change over the years, those attitudes will always be an organic reflection of their most successful people.

Myths About Life Insurance

2012-01-27T13:24:00.004+08:00

Death and pushy life insurance agents are two things most people would probably rather not deal with. Here are some common myths to steer clear of:

Everyone needs to have life insurance
Life insurance has two main functions. The most common is to provide for people who are financially dependent on you like children and perhaps a spouse. The second is to pay estate taxes so that your heirs won’t have to sell property or a business to do so.

If you don’t have dependents or a taxable estate (currently over $5.12 million), you may not need life insurance. If you don’t currently need life insurance, you may still want to purchase it now. That’s because if your health deteriorates, it could be a lot more expensive or you may no longer be able to purchase it at all when you need it.

You need life insurance to pay off your debts
This is a common myth. Many people are concerned about their heirs inheriting their credit card or other debt they may have accumulated. While debts can reduce the inheritance that you leave your heirs, excess debt dies with you unless the debt was joint, community property or had a co-signer/guarantor.

Everyone needs life insurance to pay for your funeral and other final expenses
Purchasing a life insurance policy for this purpose can be the most expensive way to fund it. If your heirs will be inheriting any savings or other liquid assets, they can always use them to pay these costs. But if your debts wipe out your estate, a small final expense policy may make sense to avoid leaving your heirs with this burden.

Everyone needs enough life insurance to fully replace their lifetime income
Life insurance agents tend to love using this method of calculating life insurance needs because it’s quick and generates large amounts of insurance needs. But do you really need to replace your entire income for the rest of your working life?

You don’t need to worry about your life insurance policy after you purchase it
People tend to buy life insurance and then forget about it but a change in your financial situation or a birth, death, marriage, or divorce in your family could require you to update your beneficiaries or the amount of insurance you need.

Protecting your family is important but so is making sure you’re not wasting money on insurance that could be used for other financial needs. The key is to find the right balance for you. Don’t let these common myths throw you off.

Satellite TV Is More Important

2012-01-27T13:12:00.004+08:00

More families have satellite TV than life insurance, according to the latest Family Finances Report and several other 'luxuries' are prioritised above protecting the family finances in many households.

While 50% of households have satellite TV, only 40% have a life insurance policy in place. And while just 13% have cover for critical illness - which could protect the family financially if a main earner became seriously ill - 14% have mobile phone insurance.

The "lack of understanding" was to blame for many people not protecting their family with life insurance. Furthermore, many families simply don't feel comfortable about discussing their finances: only sex ranked higher on the list of topics families don't like talking about openly.

No-one likes to dwell on poor health or mortality, but by denying that illness - or worse - is even a possibility, people are stopping themselves putting measures in place to protect their loved ones. Too many people assume that someone else will step in and look after their families if they weren't there to provide for them, but the reality is very different.

Everyone has different priorities, and there's nothing wrong with spending money on a few luxuries - but families should consider what they would do if a main earner died or became seriously ill. These unfortunate situations can cause real hardship for families, but life insurance or critical illness cover could help to ensure the family can cover their costs.

Is Life Insurance Permissible

2012-01-27T13:05:00.003+08:00

As-salamu `alaykum. Could you please help me know if it is haram to contract a life insurance and critical illness insurance plans? I am a member of a professional association that offers it to its members and I was thinking about having those plans. Jazakum Allah Khayaran.

Insurance of all kinds is controversial. In your case, it is permissible to sign this contract provided it is term life insurance. Responding to your question, Dr. Monzer Kahf, a prominent Muslim economist and counselor, stated,

Insurance of all kinds is controversial. My own belief is pioneered by a great scholar of his time (he died in July 1999) Shaikh Mustafa Az-Zarqah who was recognized as the most knowledgeable Shari’ah scholar of his time. He argued that insurance is a new contract which is permissible provided it is clean of interest and its subject-matter is permissible.

This includes life, serious illness, old age, hazards, medical, car, etc., i.e., all kinds of insurance. The late Mawdudi has similar argument too.

Accordingly, this contract in your question is permissible provided it is term life insurance because what is known as whole life policy (which includes a lump sum payment to the insured if she/he does not die during the contract). Usually life insurance issued by employers and associations are term life, but you need to check.

Source: WWW.onislam.net

Fear Of Failure

2012-01-26T11:53:00.002+08:00

Over the years I have seen many people think about getting rich, proclaiming affirmations, visualizing and meditating yet they don't get rich. Let's be realistic... to get ahead in the real world you have to take action.

Why is it that most people don't take action? Sometimes it is lack of knowledge, but more frequently it comes down to fear that stops people from living their dreams.
However successful people tend to act in spite of their fears. They've learned to harness their fears and use them to their advantage.

The Fear of Ridicule
You can't do much about what other people say, but you can control how you react to it. The people trying to stop you achieving your dreams have probably lost the ability to do the same. The only way they know how to build themselves up is to bring other people down. Now that is sad... but it's not your problem. No one has ever died of embarrassment, so tune out to the critics and focus on what you want to accomplish.

The Fear of Success
It is ironic that you work so hard to overcome the fear of failure and achieve success and then all of a sudden you become afraid that you won't be able to maintain your success. Yet I have seen this happen to many investors once they have grown a sizeable property portfolio.

The fear of not being worthy
Many people fail to take action because they fear they don't deserve wealth. This also stems from the "financial "programming" they received in childhood. All those negative things that some well meaning people said early in their lives. Things like "Don't be greedy". "People like us don't get rich." "What makes you think you can do that when others have failed?"

The fear of debt
Obviously the fear of debt holds some investors back, however debt shouldn't be feared. It's the inability to service the debt or repay the loans that should be feared. If you understand how to use debt wisely and if you know the difference between good and bad debt, there is nothing to fear about debt.

By the way... it is not necessary to get rid of all your fears to succeed. All rich and successful people have fears, doubts and worries; they just don't let those feelings stop them. That is the big difference: unsuccessful people also have fears, doubts and worries but they let those feelings stop them.

Black Tea Low Blood Pressure

2012-01-25T21:51:00.001+08:00

People who suffer from high blood pressure may want to reach for another cup of tea. A study has found that people who drank three cups a day lowered their levels by an average of two to three points.

Australian researchers, in a study published in the Archives of Internal Medicine, observed the effects of black tea among 95 men and women and found that long-term consumption was shown to lower blood pressure in people with normal to high levels, reports WebMD.com.

For six months, half the participants drank three cups of black tea a day, while the other half were given a placebo drink that simulated the flavour and caffeine content of tea. Both groups were similar in age and weight status.

Their average systolic blood pressure (the top number in a blood pressure reading) was between 115 and 150 at the start of the study. A healthy reading falls below 120 for the top number reading and below 80 for the bottom reading.

By the end of the study, those who drank black tea had an average reduction of two to three points in their 24-hour average systolic blood pressure levels, reported WebMD.

The properties in black tea are thought to help keep endothelial cells — which line the blood vessels — healthy. Endothelial dysfunction is an early indicator of blood pressure changes. Green tea was shown to have similar effects on the same cells in a study out of Greece.

Failure - Beginning Of Success

2012-01-24T17:07:00.002+08:00

Michael Jordan, the greatest basketball player ever to live missed over 9,000 shots in his career. He lost almost 300 games. 26 times he was entrusted to take the game-winning shot but missed, causing his team to lose. He failed over and over again in his life. And that is why he succeeded.
Even great people like Michael Jordan have significant moments of failure. But they never let failure derail them from their goal of winning.
So, my advice to you today: When you lose a game, miss an opportunity, or fail to execute a task, do not lose heart. You can win too – just don’t let failure derail you.

God Sent An Angel

2012-01-20T15:51:00.002+08:00

"Watch out! You nearly broad sided that car!" My father yelled at me. "Can't you do anything right?"

Those words hurt worse than blows. I turned my head toward the elderly man in the seat beside me, daring me to challenge him. A lump rose in my throat as I averted my eyes. I wasn't prepared for another battle.

"I saw the car, Dad . Please don't yell at me when I'm driving.."

My voice was measured and steady, sounding far calmer than I really felt.

Dad glared at me, then turned away and settled back. At home I left Dad in front of the television and went outside to collect my thoughts..... dark, heavy clouds hung in the air with a promise of rain. The rumble of distant thunder seemed to echo my inner turmoil. What could I do about him?

Dad had been a lumberjack in Washington and Oregon . He had enjoyed being outdoors and had reveled in pitting his strength against the forces of nature. He had entered grueling lumberjack competitions, and had placed often. The shelves in his house were filled with trophies that
attested to his prowess.

The years marched on relentlessly. The first time he couldn't lift a heavy log, he joked about it; but later that same day I saw him outside alone, straining to lift it. He became irritable whenever anyone teased him about his advancing age, or when he couldn't do something he had done as a younger man.

Four days after his sixty-seventh birthday, he had a heart attack. An ambulance sped him to the hospital while a paramedic administered CPR to keep blood and oxygen flowing.

At the hospital, Dad was rushed into an operating room. He was lucky; he survived. But something inside Dad died. His zest for life was gone. He obstinately refused to follow doctor's orders. Suggestions and offers of help were turned aside with sarcasm and insults. The number of visitors thinned, then finally stopped altogether. Dad was left alone..

My husband, Dick, and I asked Dad to come live with us on our small farm. We hoped the fresh air and rustic atmosphere would help him adjust.

Within a week after he moved in, I regretted the invitation. It seemed nothing was satisfactory. He criticized everything I did. I became frustrated and moody. Soon I was taking my pent-up anger out on Dick. We began to bicker and argue.

Alarmed, Dick sought out our pastor and explained the situation. The clergyman set up weekly counseling appointments for us. At the close of each session he prayed, asking God to soothe Dad 's troubled mind.

But the months wore on and God was silent. Something had to be done and it was up to me to do it.

The next day I sat down with the phone book and methodically called each of the mental health clinics listed in the Yellow Pages. I explained my problem to each of the sympathetic voices that answered in vain.

Just when I was giving up hope, one of the voices suddenly exclaimed, "I just read something that might help you! Let me go get the article.."

I listened as she read. The article described a remarkable study done at a nursing home. All of the patients were under treatment for chronic depression. Yet their attitudes had improved dramatically when they were given responsibility for a dog.

I drove to the animal shelter that afternoon.. After I filled out a questionnaire, a uniformed officer led me to the kennels. The odor of disinfectant stung my nostrils as I moved down the row of pens. Each contained five to seven dogs. Long-haired dogs, curly-haired dogs, black dogs, spotted dogs all jumped up, trying to reach me.

I studied each one but rejected one after the other for various reasons too big, too small, too much hair. As I neared the last pen a dog in the shadows of the far corner struggled to his feet, walked to the front of the run and sat down. It was a pointer, one of the dog world's aristocrats. But this was a caricature of the breed.

Years had etched his face and muzzle with shades of gray. His hip bones jutted out in lopsided triangles. But it was his eyes that caught and held my attention. Calm and clear, they beheld me unwaveringly.

I pointed to the dog. "Can you tell me about him?" The officer looked, then shook his head in puzzlement. "He's a funny one. Appeared out of nowhere and sat in front of the gate. We brought him in, figuring someone would be right down to claim him. That was two weeks ago and we've heard nothing. His time is up tomorrow." He gestured helplessly.

As the words sank in I turned to the man in horror.. "You mean you're going to kill him?"

"Ma'am," he said gently, "that's our policy. We don't have room for every unclaimed dog."

I looked at the pointer again. The calm brown eyes awaited my decision. "I'll take him," I said. I drove home with the dog on the front seat beside me.. When I reached the house I honked the horn twice. I was helping my prize out of the car when Dad shuffled onto the front porch... "Ta-da! Look what I got for you, Dad !" I said excitedly.

Dad looked, then wrinkled his face in disgust. "If I had wanted a dog I would have gotten one. And I would have picked out a better specimen than that bag of bones. Keep it! I don't want it" Dad waved his arm scornfully and turned back toward the house.

Anger rose inside me. It squeezed together my throat muscles and pounded into my temples. "You'd better get used to him, Dad . He's staying!"

Dad ignored me.. "Did you hear me, Dad ?" I screamed. At those words Dad whirled angrily, his hands clenched at his sides, his eyes narrowed and blazing with hate. We stood glaring at each other like duelists, when suddenly the pointer pulled free from my grasp. He wobbled toward my dad and sat down in front of him.. Then slowly, carefully, he raised his paw..

Dad 's lower jaw trembled as he stared at the uplifted paw Confusion replaced the anger in his eyes. The pointer waited patiently. Then Dad was on his knees hugging the animal.

It was the beginning of a warm and intimate friendship. Dad named the pointer Cheyenne . Together he and Cheyenne explored the community. They spent long hours walking down dusty lanes. They spent reflective moments on the banks of streams, angling for tasty trout. They even started to attend Sunday services together, Dad sitting in a pew and Cheyenne lying quietly at is feet.

Dad and Cheyenne were inseparable throughout the next three years.. Dad 's bitterness faded, and he and Cheyenne made many friends. Then late one night I was startled to feel Cheyenne 's cold nose burrowing through our bed covers. He had never before come into our bedroom at night.. I woke Dick, put on my robe and ran into my father's room. Dad lay in his bed, his face serene. But his spirit had left quietly sometime during the night.

Two days later my shock and grief deepened when I discovered Cheyenne lying dead beside Dad 's bed. I wrapped his still form in the rag rug he had slept on. As Dick and I buried him near a favorite fishing hole, I silently thanked the dog for the help he had given me in restoring Dad 's peace of mind.

The morning of Dad 's funeral dawned overcast and dreary. This day looks like the way I feel, I thought, as I walked down the aisle to the pews reserved for family. I was surprised to see the many friends Dad and Cheyenne had made filling the church. The pastor began his eulogy. It was a tribute to both Dad and the dog who had changed his life.

And then the pastor turned to Hebrews 13:2. "Do not neglect to show hospitality to strangers, for by this some have entertained angels without knowing it."

"I've often thanked God for sending that angel," he said.

For me, the past dropped into place, completing a puzzle that I had not seen before: the sympathetic voice that had just read the right article... Cheyenne 's unexpected appearance at the animal shelter. . ...his calm acceptance and complete devotion to my father. . and the proximity of their deaths. And suddenly I understood. I knew that God had answered my prayers after all.

Life is too short for drama or petty things, so laugh hard, love truly and forgive quickly. Live While You Are Alive. Forgive now those who made you cry. You might not get a second time.

God answers our prayers in His time........not ours..

story by Catherine Worthmoore

Diving Into Job Interview

2012-01-17T16:25:00.002+08:00

Here are 10 tips for making your interview a success. Just remember these things NOT to do:

I. Going after large organizations only (such as the Fortune 500).

II. Hunting all by yourself for places to visit, using ads and résumés.

III. Doing no homework on an organization before going there.

IV. Allowing the Personnel Department (or Human Resources) to interview you-their primary function is to screen you OUT.

V. Setting no time limit when you make the appointment with an organization.

VI. Letting your resume be used as the agenda for the job-interview.

VII. Talking primarily about yourself, and what benefit the job will be for you.

VIII. When answering a question of theirs, talking anywhere from two to fifteen minutes at a time.

IX. Basically approaching them as if you were a job beggar, hoping they will offer you a job, however humble.

X. Not sending a thank-you note right after the interview.

An interview is not to be thought of as marketing yourself: i.e., selling yourself to a half-interested employer. Rather, an interview is part of your research, i.e., the data-collecting process that you have been engaged in, or should have been engaged in, during your whole job-hunt.

While you are sitting there, with the employer, the question you are trying to find an answer to is: “Do I want to work here, or not?” You use the interview to find out. Only when you have concluded, Yes, do you then turn your energy toward selling yourself.

An interview is not to be thought of as a test. It’s a data-collecting process for the employer, too. They are still trying to decide if you fit. They are using the interview to find out “Do I want him or her to work here? Do they have skills, knowledge, or experience that I really need? Do they have an attitude toward work, that I am looking for? And, how will they fit in with my other employees?”

An interview is best prepared for, before you go in, by taking these three steps:

1.Research the organization or company, before going in. Go to their website if they have one, and read everything there that is “About Us.” Ask your local librarian for help in finding any news clippings or other information about the place. And finally, ask all your friends if they know anyone who ever worked there, or works there still, so you can take them to lunch or tea or Starbucks and find out any inside stories. All organizations love to be loved. If you’ve gone to all this trouble, to find out as much as possible about them, they will be flattered and impressed, believe me, because most job-hunters never go to this amount of trouble…

2.When setting up an interview, specify the time you need. Experts recommend you only ask for twenty minutes, and observe this commitment religiously. Once you’re into the interview, stay aware of the time, and don’t stay one minute longer than the twenty minutes, unless the employer begs you to-and I mean, begs. Always respond with, “I said I would only take twenty minutes of your time, and I like to honor my agreements.” This will always make a big impression on an employer!

3.As you go to the interview, keep in mind that the person-who-has-the-power-to-hire-you is sweating, too. Why? Because, the hiring-interview is not a very reliable way to choose an employee… [T]he hiring-interview is not a science. It is a very, very hazy art, done badly by most of its employer-practitioners, in spite of their own past experience, their very best intentions, and their carloads of goodwill.

Good Business Plan

2012-01-12T16:11:00.002+08:00

Do you have a Business Plan? Congratulations, but you are in a small minority. And if you have a plan, is it integral to your business, and instrumental to its growth? If the answer to this question is yes, then you need to read no further. However, even if you have a plan, most business owners leave it languishing on their bottom shelf gathering dust.

Standard Box
Our secret is this: most business consultants are only interested in selling their time or their ‘Business Plan in a Box’ but know that for a business plan to be useful, it has to be part of a Business Management System. But this is a much harder proposition for the consultant to sell, particularly to small business owners who are just looking for a quick fix. So most consultants just sell a quick fix solution. Once owners have prepared their “fill in the blanks” plan, they expect it to transform their business overnight just by its mere existence. And because this does not happen, it ends up on the bottom shelf.

Business Plan Do Work
Business plans do work, but you have to make them work. It is not a one-off exercise. If you buy a ‘Business Plan in a Box’, you need to understand that you are responsible for maintaining the plan. You also need to satisfy yourself that the product you buy is not just a fill in the blanks product. These plans always end up on the bottom shelf. They don’t show you how to do your strategic analysis (which is never a fill in the blanks exercise- no matter what someone tells you).

Soul Searching
Business planning is a real soul searching exercise for the business owner. You have to be brutally honest with yourself. Even if you prepare your plan yourself (without a coach), get someone else involved to keep you honest. Looking at examples of what others have done can help, but your business will have different strengths and weaknesses and will operate in a different marketplace. And lastly, make sure the off-the-shelf product you choose will show you how to implement your plan into your business.

When a good consultant prepares a business plan they will:

Undertake a rigorous (and challenging) review of the strengths & weaknesses of your business. Show you how the plan should be implemented into your business process
Give you at least one review of your performance against your plan six months after the plan has been delivered.

While this will require a larger investment than a ‘Business Plan in a Box’ and is a harder sell for a consultant, this will ensure that your plan does not end up on the bottom shelf and that your investment is not wasted. Business planning is not an easy process. It takes time and commitment. You don’t just do it once.

Making Decision Under Pressure

2012-01-12T15:57:00.002+08:00

Business owners who are spooked by today’s challenging trading conditions are in danger of making a bad situation worse if they allow fear to dominate their thinking. Our brains can cause us to become stuck in the “fight, flight or freeze” state, hampering our thinking and often prompting behaviour which is inappropriate or even damaging to a business.

The current economic downturn has prompted company bosses to order smaller batches of stock, experiment with deep discounting and cut costs at precisely the time when very different actions may in fact be needed – and it’s all down to a pre-historic location in our brain called the Amygdala.

These tiny, almond-sized parts of our temporal lobe play a key role in dictating our instinctive emotional reactions. In one moment it can change a relaxed brain to one that is “frozen” with fear, effectively crippling our intellectual capacity and making it impossible to think in a positive, mature and free-flowing way.

Many people will recognise this as the cramping of their brains before they make a presentation, or on receipt of bad news such as a cancelled order. But while in such a state of lockdown, the brain cannot function.

These are four commonly-used steps to train your brain and change its habitual response.

RELABEL
The first step is to relabel a negative or threatening thought or feeling as something else, usually something positive or at least benign. By doing this you can acknowledge that your fear is a function of a prehistoric part of your brain and not that of a highly functioning adult human being.

REATTRIBUTE
You need then to reattribute these false signals to something, and not to what your brain THINKS is the cause. When fear strikes, acknowledge it as a physical process taking place in your brain. There is nothing at that moment that you can do to stop it altogether, but you can attribute it to a malfunctioning or over-sensitive chemical reaction in your brain which prompts the fight, flight or freeze response. It is caused by a reptilian, prehistoric part of the brain which is misinterpreting your current environment.

REFOCUS
This is the crucial step because eventually this will enable you to move on from this state of paralysing fear and into a more positive, calm state of mind. It involves replacing the fear with a more pleasant sensation, usually by doing something else, if only for a few minutes. Playing a favourite song, go for a walk or do some exercise. Say to yourself “I am experiencing irrational fear, I need to do something else” and take control of the situation.

REVALUE
After a period of weeks or months of practising, the fourth step should come more easily, and that is to revalue the negative feelings as worthless - an unnecessary distraction that is detracting from your life and your natural abilities. By revaluing the fears or urges as worthless, they lose impact and stop controlling your behaviour. The result is a happier, more confident individual who is no longer controlled by a prehistoric survival instinct that has very value in a working or business environment.

OTHER STEPS
There are other techniques that include meditation, most specifically Mindfulness, which helps the brain stay in the present and not get distracted or locked down by invisible fears.

Stand Out

2012-01-12T15:53:00.003+08:00

It's a crowded marketplace. Almost every business out there uses advertising: pamphlets, banners, websites, television, newspapers, etc. Customers have many choices, so what can you do to make your business stand out from the crowd?

What is unique to your business?
What is special about your business? Is there something that you do that your competitors don’t? For example, do you visit your customer’s place of business when larger competitors won’t move from their own premises? Or, can you guarantee a specific delivery period? Whatever it is, make sure you tell your customers what it is, and how it will benefit them. Sell them the benefits of being your customer.

Make your customers’ decisions for them
Tell potential customers why they should choose you to help them decide to use your business. Make sure you point out your business’ unique features and highlight how these will benefit your customer. Don’t leave it to chance that your customer will make the links for themselves. For example, if you are a small business, point out that you are small enough to adapt to your customer’s needs. Try to proactively break down any customer reluctance in choosing your business.

Find your own place
Think about advertising in different ways and places to your competitors. Stand out simply by being the only one advertising that way. For example, setting up an automatic text message service might make you stand out from your competitors if you are the only one doing it.

Be social and be memorable
Social networking is not just for keeping in touch with your friends anymore. Smart businesses are entering this space to create brand awareness, and to provide easy access for customers. Taking the time to set up a facebook page or a twitter account might make your business appeal to a more computer savvy client. Regularly sending out announcements of special deals, or new products keeps your business in your customer’s mind.

The key to standing out from the crowd is to know why your business is different, tell this to your customer in new and unique ways, and make sure they know the benefit of being your customer.

Responsibility & Accountability

2012-01-07T10:11:00.002+08:00

Singapore subway operator SMRT Corp Ltd said today that Chief Executive Saw Phaik Hwa has resigned and board member Tan Ek Kia will take charge until a replacement is appointed.

SMRT's announcement came after the subway network suffered three major failures last month, each lasting several hours, prompting calls for Saw's resignation.

"Ms. Saw will remain with the group to assist the relevant investigation teams and the committee of inquiry reviewing the causes of, and responses to, the disruptions to train operations in December," SMRT said in a statement.

"Tan Ek Kia will assume interim executive responsibility for the management of SMRT, with a particular focus on rail operations."

On one evening in December, hundreds of commuters were trapped underground without light and ventilation for more than an hour before they heard from SMRT, while rescue buses arrived late, partly because some drivers got lost.

"Finally. Now we know that our words do mean something to those in power," said Najib Zakaria, one of 190 people who commented on Saw's resignation on the Online Citizen, a popular Singapore socio-political blog.

"Let's just pray she doesn't pop up in some other GLC (government-linked company) and that this is the first of many accountability resignations," added Ben Teo Teck Chye.

Known for its efficient government services, Singapore has been hit by a spate of breakdowns, the most recent being disruptions to mobile internet services offered by Singapore Telecommunications Ltd, its largest telecoms firm.

SingTel and SMRT are units of Singapore state investor Temasek Holdings Pte Ltd, which is headed by Ho Ching, the wife of Prime Minister Lee Hsien Loong.

SMRT said Saw had indicated her wish to step down prior to the spate of train breakdowns.

Over here - CEO of LRT, KTM , Rapid, continues to offer us their excuses instead of their resignation. No wonder we are still a third world country

Medical Insurance

2012-01-05T21:34:00.003+08:00

In general, the Hospital & Surgical Insurance (HSI) policy covers you against expenses incurred whilst you are hospitalised, due to a covered illness or as a result of an accident.

Medical Coverage
Generally, you would only be covered as an in-patient unless it is an emergency out-patient treatment due to an accident. In addition, day surgeries are also covered for certain procedures nowadays, like cataract operation, whereby you need not stay overnight at the hospital. With the “Day Surgery” benefit, you need not purposely stay a night to qualify for the coverage and this reduces your total medical costs.

A HSI policy usually covers hospital accommodation and nursing expenses, surgical expenses (surgeon’s fees & costs associated with surgery), physicians’ expenses and in-patient tests. This policy sometimes includes overseas cover, accidental death benefit and out-patient tests or consultation.

Limitations & Exclusions
HSI policies usually exclude any hospitalisation / treatment charges as a result of pregnancy related conditions, congenital abnormalities, cosmetic surgery, non accidental related dental treatment , sexually transmitted diseases, routine medical check up’s and psychiatric related illnesses.

One common exclusion under a HSI policy is that of pre-existing conditions or illnesses that existed before the effective date of a HSI policy, for which you are receiving treatment or have shown symptoms.

If you consulted a medical doctor for any pain or discomfort in connection with the condition, it would be regarded as a symptom of a disability and will be excluded from your policy. There is also a list of specified illnesses for which you will not be covered if the illnesses have been treated or occurred during the first 120 days from the commencement of your policy, irrespective of whether you were aware or them or not.

Waiting Period
Take note that you will not be eligible for any claim arising from any medical or physical conditions within the first 30 days of the cover, except for accidental injuries. Again, this is irrespective of whether you were aware of such conditions or not.

However, this does not necessarily mean that you’d be automatically covered after the first 30 days as you’re still subjected to the 120 days waiting period for certain specified illnesses and the pre-existing condition exclusion.

Disclosure
It is also important that at policy application you truthfully disclose all your relevant medical information. Insurance companies have the right to reject a medical claim if they have evidence that the insured did not disclose any material information at time of purchasing the policy.

Maximum Coverage Age
Most HSI policies today extend their coverage to age 80 and some even up till 100. However, there’s always a last entry age and be sure to get into the plan before that stipulated age and never let it lapse. Otherwise, you’d not have the cover when you need it most.

Customary Charges
Also, while a typical HSI policy may cover overseas treatment, the benefits would be limited to reasonable, customary and medically necessary charges for such equivalent local treatment in Malaysia and shall exclude the cost of transport to the place of treatment.

For example, let’s say a typical appendicitis operation here costs RM2,000 but you had to undergo the operation in Singapore which cost you S$3,000. You’d then be reimbursed for RM2,000.

Overseas Limitation
Further, if you were to live or travel out of Malaysia for more than 90 consecutive days, no benefits will be payable for medical treatment outside Malaysia. Therefore, if you do not plan to be back in Malaysia for more than 90 consecutive days, you may need to get another HSI plan in the country where you’d be residing.

However, the moment you step back into Malaysia, your HSI coverage will resume until such time you are out of Malaysia again for more than 90 consecutive days.

M&A Insurance Industry 2012

2012-01-05T21:31:00.001+08:00

The high volume of merger and acquisition activities in the Malaysia financial services sectors is expected to continue in 2012, particularly in the area of insurance, a PricewaterhouseCoopers official has said.

According to Malaysian publication, The Edge, PWC's Malaysian executive director Angie Wong said the local insurance scene would continue to be spurred by low penetration rates in the life insurance market as well as the fragmented general insurance business, thanks to a relatively mature rating environment.

The government's decision to liberalise ownership structures in the insurance and other service sub-sectors in 2009, which raised the celling for foreign shareholding to 70% from 49% , also helped raise the appeal of the Malaysian markets to foreign players, she is quoted as saying.

Wong also said the introduction of the Risk-Based Capital framework too had perhaps assisted in spurring M&A activities, though it may not be the main driving force behind local insurers seeking strategic partners, according to The Edge.

Wong told the publication her view of increased M&A activity was backed by findings of a recent survey conducted by her firm with regards to the prospect of M&A's in the financial services industry in Malaysia in the next 12 months.

Life Insurance 2011 - 2012

2012-01-05T21:28:00.002+08:00

MALAYSIA'S life insurance new business premium is anticipated to moderately grow between 14 per cent and 15 per cent this year, compared with the lower double-digit growth in 2011.

The Life Insurance Association of Malaysia (Liam) believes that growth would hinge upon several market opportunities.

"Among the factors (for growth) are the current low penetration rate of life insurance at about 42.83 per cent, which would spur internal market demand, the government's Economic Transformation Programme and higher tax incentives for retirement products that would provide a platform for growth of the life insurance sector," it told Business Times.

It also added that the new private retirement scheme administrated by the Securities Commission of Malaysia would be a source of growth in the coming year.

In the first nine months of 2011, the life insurance industry delivered a moderate performance with new business sales growth of 8 per cent on weighted premium basis.
The growth was contributed by a positive performance in regular premium sales which went up by 13 per cent as compared to the same period in 2010.

By class of business, investment-linked business continued its strong growth momentum in 2011. The sale of regular premium investment-linked insurance plan increased to RM752 million in the first half of 2011 from RM597 million in the corresponding period in2010 with a growth rate of 26 per cent. Meanwhile, for single premium business, there was a 16 per cent growth in investment-linked plans.

Liam expects retirement-related products, medical and protection-related products to do well this year. "While insurance companies fortify their grip on the market, distribution channels play a significant role in boosting sales," Liam said.

As part of Liam's five-year strategic plan, the association said it will continue to drive its consumer education programme and raise awareness of the virtues of life insurance, especially the need for savings and protection to boost the level of insurance penetration in the country.

"In an environment of high inflation, it will bring about the question of how much disposable income is available and how much should put aside. Such a situation usually results in an increased demand for financial planners as clients become more sophisticated and highly demanding," it said.

On the ongoing Eurozone and the US debt worries, Liam noted that the industry would be able to sustain if an economic downturn happens as proven during the 2008/2009 global credit crunch.

Back then, despite tough conditions, the life sector recorded positive growth albeit lower figures mainly due to the fact that the domestic financial system has sufficient buffers in place with sound risk management system as well as adequate levels of capital to alleviate any effects from untoward global economic slowdown.

Employee To Entrepreneur

2011-12-23T20:26:00.003+08:00

After working for a major telecommunications company for 28 years, Toni Cory's position servicing chip-placement machines was outsourced to another country. Even though Cory could see it coming months before her position was eliminated, it didn't make the downsizing any easier to swallow. Cory had planned to retire from her company when she was ready and with some financial security -- but like many others in today's turbulent economy, that was no longer a possibility.

Retraining for a new career
Once Cory knew her days at her company were numbered, she began to do some soul-searching. As a dog owner, Cory had heard of dog day-care establishments and wondered if the idea would take off in her rural community in the Midwest. So she did some research and found out about a state-sponsored program being delivered at the local community college to teach people how to set up a small business. It was here that she also found out about and took advantage of a $15,000 NAFTA federal training grant for displaced workers and enrolled in a five-month school in another city to become a professional dog trainer.

Around the same time, Cory's son saw an advertisement for a dog day-care mentorship program at a local dog day-care establishment in conjunction with their relationship with VocationVacations, a company that partners business owners with people considering a career change. Cory spent one long day (from 6AM to 7PM) at the dog day-care center soaking up as much knowledge as she could about running a dog day-care business.

Personal and financial obstacles
Cory was not without her naysayers. "The economy is going down the tubes, and you plan to open your business in a very rural area -- will people actually pay for this service?" seemed to be the party line among several of Cory's colleagues. But the skepticism didn't stop there. The banks did not want to give her a loan to start her business. It took her a year to convince her banker to give her a loan; and in order to get the amount she needed, Cory was forced to put up everything she had in her 401(k) as collateral. Once the loan was secured, Cory and her husband found a piece of property, and her husband, a contractor, put his work on hold and built the dog day-care center himself.

Cory confesses that the first 18 months were not easy. The business had a slow start; people who said they would bring their dogs to the center didn't. Yet the staff and the bills still needed to be paid. Cory persevered -- and by the end of the second year, she was turning a profit and getting repeat business and new referrals.

Advice for others
"If you are starting a business, be realistic about your goals; don't think you can do it yourself and don't be afraid to ask for help. There are many organizations and people willing to share information, and your local chamber of commerce is another great resource for small businesses. Have faith in yourself. I have a high-school education and I never ran a business before. Every year I learn more, and I use those lessons to make my business better," Cory says.

Cory says she is very satisfied with her progress to date: "I started my business because I no longer wanted corporate America to be in charge of my life and I wanted to do something within my community."

Conducting An Effective Meeting

2011-12-23T20:17:00.002+08:00

“If you had to identify, in one word, the reason the human race has not achieved, and never will achieve, its full potential, that word would be meetings.”

Thus spake humorist Dave Barry, and many of us would agree. But it doesn’t have to be this way. Some tips for having a good one:

Start and end strongly
Running a productive meeting isn’t rocket science. As Denver-based consultant Teri Schwartz notes, much of it boils down to opening and conducting every meeting with a purpose and closing it with a plan for “going forward.” Problems arise when people forget this. “It’s like flying a plane,” says Schwartz. “Most crashes happen at takeoff and landing.”

Pick a leader
Four years ago, Cleveland’s KeyCorp bank adopted a new principle: Always assign someone to lead. “The worst thing you can do is go into a meeting with no one in charge,” says the bank’s senior EVP and chief risk officer, Charles Hyle. “It turns into a shouting match.”

Think small
Be realistic about what you can accomplish. “You can’t solve world hunger in an hour,” Schwartz says. By the same token, keep the number of attendees manageable to stimulate discussion. “When you have too many people in the room,” says Hyle, “everyone clams up.”

Direct, don’t dominate
“People hate it when they can’t get their work done because they have to go to somebody else’s meeting,” says Columbia Business School professor Michael Feiner. So encourage others to speak up and get involved, especially junior staffers. “They need to believe it’s not his meeting or her meeting, but ‘our’ meeting,” Feiner says.

Lay down the rules of engagement
Everyone should understand who will take notes and how decisions will be made. Remember that consensus is typically a bad thing. “It means there isn’t enough dialogue or debate,” says Feiner, “and that’s the lifeblood of any innovative organization.” Jon Petz, the author of Boring Meetings Suck, suggests assigning follow-up tasks during the final five to ten minutes, then reiterating them later in a group e-mail so there’s no confusion.

Job Interview

2011-12-23T20:06:00.002+08:00

For college graduates who fear they may be trading their diplomas for Starbucks aprons, there’s good news and bad: Employers have hired 19 percent more graduates in 2011 than they did in 2010—when just 56 percent had locked down a job by last spring, according to a Rutgers University survey. But the market is still tepid. How to improve your chances at landing—and keeping—a great job:

You’re a Seller, Not a Buyer
Writes Nell Minnow at bnet.com, “[College seniors] act as though they are meeting with their college advisor, telling prospective employers what the job will do for them instead of what they will bring to an organization.” Tell your interviewer the skills you have that would benefit his company.

You’re Part of a Team
College promotes individual achievement, says Minnow, which means “students … have no reason to feel responsible for the group,” and working together is a must to succeed in business. Stress your ability to work with colleagues for the common good. Don’t dwell on your own goals but rather on the company’s.

Act Like a Grown Up
That may sound obvious, but a recent survey by the Protocol School of Washington found half of all college grads don’t exhibit professionalism on the job. What’s more, they often think their obligations to the company end when they clock out at night. “Incidents at work and comments about coworkers are not to be put on Facebook or Twitter,” notes Minnow.

Employers Expect Results
With the changing economy come changing expectations, writes Thomas L. Friedman of the New York Times. When an employer interviews a candidate, he writes, he is asking himself, “Can he or she help my company adapt not only to doing the job today but also reinventing the job tomorrow?” Someone who seems able to morph to meet a company’s changing needs is more likely to get the job.

Channel Mother Teresa
Mother Teresa, CEO (Berrett-Koehler, $21.95) has advice for even older job seekers: “If it can be done now, do it now” and “Take your work seriously, never yourself.”

Influencing Others

2011-12-19T21:20:00.002+08:00

Leadership plays a vital role in the building of any business and can have a direct effect on the attitudes of colleagues and staff, which in turn affects products and services. The attitude and influence of the leader is also reflected in aspects such as staff satisfaction and retention.

It's important to distinguish leadership from management. A manager oversees subordinates who primarily do as they're told and have little or no input to the business or organisation. Leaders on the other hand have people who follow them willingly as they also "see" the leader's vision and passion, and clearly understand the organisation's mission and purpose. So, which group are more likely to support you and your business?

Great business leaders all have common traits that contribute to their success. Most importantly is an understanding that leadership is not only about growing financial wealth but also focusing on growing personal or human wealth. Companies and organisations that take responsibility for the people they employ as well as the wider community often have outstanding business success.

Listed below are 20 practical tips to enhance your leadership skills and bring success to your business:

1. Let people know their contributions in the workplace are valued.

2. Keep communication at an open and honest level.

3. Acknowledge, privately and in public, an outstanding individual effort.

4. Be a positive role model: walk the talk.

5. Give people the skills and knowledge to do their job well and invest in skills.

6. Be aware of your own strengths and weaknesses.

7. Prioritise your day and know some things happen unexpectedly.

8. Always view the long term plan and don't allow negative days to torment your mind.

9. Learn to be resilient: you will face challenges and make mistakes - bounce back.

10. Be prepared to make tough decisions to get the results you need.

11. Don't take yourself too seriously:have a laugh daily.

12. Great leaders have great mentors:find yourself a mentor that you can relate to.

13. Clearly define your vision and focus on goals to achieving it.

14. Always ask questions - even if they seem 'stupid.'

15. Never overlook talent - involve great people in your business.

16. Develop excellent listening and observation skills.

17. Understand the difference between 'leading' and 'managing' your business.

18. Don't be afraid to show your weaknesses and acknowledge your skills.

19. Be passionate and believe in yourself and what you are doing.

20. A healthy work-life balance is important - ensure you make time for family, friends and the community.

One secret to success is how we influence the people around us – in our personal and business life. Who are you influencing today and how?

Basic People Skills

2011-12-19T21:18:00.002+08:00

How to build a winning, creative team? Clichéd though this may be, you need to start with treating people right. There is no other way.

Humans all appreciate:

• Respect; which includes appropriate remuneration.

• The opportunity to express themselves without undue criticism and censure.

• Feeling heard and understood; even without agreement.

• Sharing goals; having sense of purpose and togetherness; feeling supported.

• Invitation to be part of an engaging vision.

• Praise, positive feedback and genuine appreciation.

• Strive for a calm environment – psychologically and physically.

• Be honest, be real and be nice.

Make people happy and they will be more creative. Even more so than putting them in highly stressful situations. “It’s no accident that AHA and HAHA are spelled almost the same way.” — Mitch Ditkoff.

“Drive out fear” — W Edwards Deming. Management by threats ,however well-veiled, is not good.

Leadership Is About Serving

2011-12-19T21:14:00.002+08:00

When we become a leader at any level, we become responsible for the wellbeing and success of other people. And as a leader, we achieve success through the success of others. The following two steps help us to improve our ability to lead others effectively.

Get to know your people well
Our first leadership obligation is to develop our understanding of our people as individuals. As a leader, how can we expect to get the best out of people if we don’t know them?

There are issues that relate to everyone, such as policy or procedure, but to get the best out of people we need to reach them on a personal level. The key to leading others is to understand and consider them – put them first.

Our job as leaders is all about training, developing and educating people and we achieve this by developing a true understanding of:

• what motivates them

• what their aspirations are

• what they are capable of

• what is important to them

Leadership isn’t about telling people what to do.

Leadership is about:

• showing them what to do

• teaching them how to do it

• developing each person, enabling them to fulfil their potential

• focusing on the interests and wellbeing of others

• helping people to improve and achieve results

• building relationships based on mutual respect and understanding

Leadership is about being the best we can be to help others be the best they can be. Once we have taken the time to get to know them well, we can achieve this by focussing on two key aspects: their competence and their perspective.

Develop an understanding of their competence and perspective
Competence is each person’s individual level of skill and ability to perform the tasks that are required of them in their role.

Each person is a product of their own experience, level of education or training, natural abilities, values, beliefs and personal standards and this all needs to be considered in all leadership situations.

The only way we are able to assess an individual’s competence is through our relationship with them, by developing a true understanding of who they are. We need to get to know them. If we don’t, leadership mistakes are made.

Perspective is each person’s individual way of thinking about or evaluating a message, subject or situation, based on their personality, frame of mind, experience, wants and needs.

People all have individual perspectives in every situation, which can be shaped by an endless list of variables, such as age, sex, culture, experience, upbringing, values, beliefs, expectations, family circumstances, what is happening in their personal and professional lives etc.

It is our responsibility as a leader to increase our awareness and understanding of these variables and learn how to use this understanding appropriately to align our leadership style with their needs.

To be the best they can be, people need to know exactly what to do, how to do it and what is expected of them – they need to be provided with the appropriate guidance.

Knowing the people we lead, gaining an understanding of their competence and perspective, allows us to align our leadership style with their needs, and give the right guidance.

Key Points to Successful SME

2011-12-19T21:04:00.002+08:00

5 Key Areas SME must focus on :-

The product or service that you offer
Many businesses get started because someone has an idea or a passion. Unfortunately not enough research is put into whether the product or service is viable and if there is a market for it. Passion is important in business, but if the idea just doesn't have legs, it's going to cause a lot of heartache. The product or service needs to be well researched to ensure it delivers a solution or benefit. Research, testing and improvement needs to be ongoing , as markets change rapidly.

Marketing and Selling
Once you've found a great product or service and you've identified a market, how do you let people know about it? There is no point in having a fantastic product or service if no one knows about it. If you can't convey your value proposition, the business will fail. You need to sell to your customer. You need to engage with them, listen to their needs and find ways to solve their problem. It is a long road from enquiry to closing a sale and it needs patient and trained salespeople. A good sales process can have a massive impact on revenue and getting top performers to share knowledge is vital.

Operations and Finance
Once you've made the sale, you have to deliver. There is a lot involved in delivering a product or service to the satisfaction of customers. Systems are the best way to ensure efficiency.

Then there is finance to consider. There are costs and overheads to pay, stock and jobs in progress to finance, debts to collect, equipment to be bought or financed, suppliers to pay, interest to financiers and the list goes on. Cash flow is one of the biggest issues for SMEs.

Customer service
"The customer is always right? If the customer is wrong, go back and read the first line"? Without happy customers - business will be a struggle. Constantly finding new customers is expensive. It's an often quoted point in customer service training, that a happy customer will tell two or three people, whilst an unhappy customer will tell around twenty.

Human Resources
Happy staff means happy customers. If you want staff to look after customers, you must look after the staff. I often hear that even big businesses rarely have reviews with staff and don't provide any mechanism for feedback. Staff, are your most valuable asset.

You probably spend time dealing with all five areas. The best way to grow your business is to surround yourself with people who understand and specialise in each. You can't be an expert in all five. If you try, you will wear yourself out and create an unhappy working environment. I've been very fortunate to be surrounded by a team, each has a focus on one of these areas. It has freed up mine and my business partner's time to focus on strategic management and growth. I can recommend this thinking. If you don't currently employ these people start looking for them or outsource to specialists.

Who Is Chia Thye Poh

2011-12-19T14:24:00.003+08:00

Chia Thye Poh, 70, the longest-serving political prisoner in Asian history, was awarded the Lim Lian Geok (LLG) Spirit Award on 18 December 2011 by the LLG Cultural Development Centre. The former Singapore Member of Parliament was detained for 32 years from 1966 to 1998 by Lee Kuan Yew’s government, a much longer term compared to Nelson Mandela’s 28 years of detention.

In 1963, many activists in Singapore were arrested and detained. Chia selflessly stood in for a detained candidate in the general elections and was elected Member of Parliament on a Socialist Front ticket. He was thus also a Malaysian member of parliament from 1963 to 1965 when Singapore was part of Malaysia.

A defender of the freedom of expression and justice, he was banned from entering Malaysia after he had delivered a speech at the Perak division of the Labour Party of Malaysia on 24th April 1966.

He was arrested under the draconian Internal Security Act (ISA) by the Singapore Government on Oct 29, 1966 which allows for indefinite detention without trial. In May 1989, he was placed under house arrest in the island of Sentosa for nine more years. After 32 years of incarceration, he was finally granted unconditional freedom on 27 November 1998. Immediately after his restriction order was lifted, Chia issued a statement condemning the ISA. Soon after, he went to Netherlands and completed his Master’s and PhD degrees at the Institute of Social Studies at The Hague.

Established in 1988, the Lim Lian Geok Spirit Award is the highest honour in the Malaysian Chinese community bestowed on those who live up to the spirit of Lim Lian Geok, the civil rights leader of Dong Jiao Zong in the fifties and sixties. His citizenship was revoked by the Alliance government in 1961 because of his opposition to the 1960 Rahman Talib Report that aimed to convert the Chinese secondary schools to national schools. Since his passing in 1985, Lim Lian Geok has been beatified as the “Soul of the Malaysian Chinese”.

80 / 20 Rule

2011-12-16T23:16:00.002+08:00

According to the Deloitte survey, the top three priorities for insurers today is to manage channel costs, improve channel productivity and retain channels

Insurers are investing heavily in agency channel recruitment and training. However, the percentage of active agents is low. This has led to high expenses with regard to agency channel management. According to Deloitte’s Life Insurance Channel Management Benchmarking Study-2011 (which included seven participants from the life insurance industry) 88% of individual agency sales are from top 25% agents, which indicates high dependence on a few best performers and the need to improve agent’s productivity across layers.

Thank You

2011-12-13T11:09:00.002+08:00

I dreamt that I went to Heaven and an angel was showing me around. We walked side-by-side inside a large workroom filled with angels. My angel guide stopped in front of the first section and said, "This is the Receiving Section". Here, all petitions to God said in prayer are received.

I looked around in this area, and it was terribly busy with so many angels sorting out petitions written on voluminous paper sheets and scraps from people all over the world.

Then we moved on down a long corridor until we reached the second section.

The angel then said to me, "This is the Packaging and Delivery Section. Here, the graces and blessings the people asked for are processed and delivered to the living persons who asked for them." I noticed again how busy it was there. There were many angels working hard at that station, since so many blessings had been requested and
were being packaged for delivery to Earth.

Finally at the farthest end of the long corridor we stopped at the door of a very small station. To my great surprise, only one angel was seated there, idly doing nothing. "This is the Acknowledgment Section, my angel friend quietly admitted to me. He seemed embarrassed." How is it that there is no work going on here? ' I asked.

"So sad," the angel sighed. "After people receive the blessings that they asked for, very few send back acknowledgments"

"How does one acknowledge God's blessings? " I asked..

"Simple," the angel answered. Just say, "Thank you, Lord. "

"What blessings should they acknowledge?" I asked.

"If you have food in the refrigerator, clothes on your back, a roof overhead and a place to sleep you are richer than 75% of this world. If you have money in the bank, in your wallet, and spare change in a dish, you are among the top 8% of the world's wealthy. "

"If you woke up this morning with more health than illness .. You are more blessed than the many who will not even survive this day. "

"If you have never experienced the fear in battle, the loneliness of imprisonment, the agony of torture, or the pangs of starvation ... You are ahead of 700 million people in the world."

"If you can hold your head up and smile, you are not the norm, you're unique to all those in doubt and despair......."

Managing Family Business

2011-12-12T20:02:00.003+08:00

Family businesses are the cornerstone of many countries in Asia. Either started from migrant workers or the indigenous population of countries, many of such businesses have grown and flourished over the past century and into the current millennium.

Dr Hischam El-Agamy, an executive director of the Switzerland-based business school International Institute for Management Development (IMD), he feels it's time Asian family businesses cuddle the new norm of the global business world or risk fading away.

Grow Or Die
“Businesses only grow or die, they don't stand still,” El-Agamy told StarBiz. Family businesses would be swallowed either way with or without globalisation, if they were to stay stagnant.

Patriarchal Interference
Complacency and maintaining of the status quo of a business were problems most family businesses struggled with. Inteference and instructions given by the patriarchal family leader held firm and whose orders must be followed. Decision-making in a family business was usually faster than that of a large organisation but holding firm to the instructions of the elder person in a family could pose a problem at times when the decision might not be so favourable.

Business Governance
“There's a need for family businesses to establish governance. Governance is very important and this element may be lacking in some family firms compared with multinational companies (MNCs).

“In this case, the decision-making will be better and a family firm must also allow the younger generation to participate in the decision-making and not just by who leads the business,” he said, adding that there was no critical thinking as instructions given would usually be followed.

Explore Other Ideas
Apart from governance, he encouraged family members of Asian family firms to explore the world and called on the older generation to prepare the next generation to take over the business. “They have to go out and spend a year or two to learn. If they go out to learn, they can appreciate the complexity of an MNC (multinational corporation).

“Some Asian family businesses do not plan for succession because they assume the children will take over the business and that could be a problem,” he pointed out.
Another point he made was that a family business must also learn how to integrate non-family employees into the organisation.

Life Insurance Growth 2012

2011-12-12T19:57:00.001+08:00

Despite the challenging economic environment, the life insurance industry is expected to chart new business premiums growth of between 10% and 15% next year.

This is attributed, among others, to the low insurance penetration rate, the Government's various projects and tax incentives. The Life Insurance Association of Malaysia (LIAM) in responding to queries from StarBiz said the association anticipated new business premiums to moderately grow between 14% and 15% next year compared with a low double-digit growth this year.

By class of business, investment-linked business continued to enjoy a very strong growth in 2011, it said, adding that the sale of regular premium investment-linked products grew by 26% to RM752mil in the first half of the year from RM597mil in the corresponding period in 2010.

Meanwhile, for single premium business, there was a 16% growth in investment-linked plans, the association said. Total new business premiums for individual policies last year stood at about RM2.8bil compared with RM2.1bil in 2009.

LIAM also said the industry had taken a breather after strong double-digit growths in 2009 and 2010. “However, we expect the performance of the industry to improve by year-end as companies step up their efforts to achieve their business goals.

“The insurance penetration rate in the country is still low with huge upside potential to be captured. The economy in Malaysia is also expected to perform as projected and this augurs well for the growth of the industry,” LIAM said.

For single premium business, there was a move from traditional plans to investment-linked plans as companies favoured the latter due to challenges in providing minimum-guaranteed returns in traditional products under the low interest environment, it noted.

LIAM said it expected retirement-related products, as well as medical and protection-related products, to perform next year.

As part of its five-year strategic plan, the association added it would continue to drive its consumer education programme and raise awareness of the virtues of having life insurance.

Challenges In China

2011-12-09T16:49:00.002+08:00

Ten years ago, foreign insurers were lining up to celebrate China’s entry into the World Trade Organization, eager to tap what was certain to become the world’s next big insurance frontier.

A decade on, it is mainly the local insurers that are celebrating. Four out of five foreign insurers are suffering losses in their China operations, strangled by tight regulatory controls and intense competition from local rivals who, the foreigners complain, enjoy unfair advantages. Some foreign firms are heading in the opposite direction, reducing their exposure to China or pulling out completely.

China’s WTO entry did indeed herald a boom. Over the past 10 years, insurers have seen annual premiums jump six-fold to 1.5 trillion yuan ($236 billion). There is room for further growth, backed by a rising middle class in a country with 1.3 billion people.

That boom has produced clear winners, just not among the foreign players. China Life Insurance Co and Ping An Insurance have grown into the world’s first and second-largest insurers by market valuation, respectively, in part thanks to the financial crisis hitting foreign insurers globally. They and non-life stalwart PICC have truly cashed in on the great China insurance sector boom.

China pledged to allow foreign firms “effective management control” in life insurance joint ventures, but it limited foreign stakes to 50 percent while letting them choose their partners freely. Beijing also promised to phase out geographical restrictions on where they could operate. Analysts say while China has met the letter of the law, in practice, the playing field is far from level.

Foreign insurance firms, for example, must endure lengthy and often inconsistent bureaucratic procedures to open a provincial branch, severely retarding their pace of expansion. Sino-foreign life insurance joint ventures have seen their growth typically capped to two provinces a year, a pace that would require at least 17 years to build a nationwide network, Wong noted.

But for insurers, which target Chinese individuals or companies, having a large sales force is crucial, analysts say.

“The licensing restriction has led to many other problems, such as inability to gain economies of scale, weak brand recognition…and in some cases, disadvantage in talent wars,” said Sally Yim, senior credit officer of rating agency Moody’s Investors Service.

In terms of ownership, foreign insurers can only enter China’s life insurance market by setting up a joint venture with a local firm and their stake is capped at 50 percent.

China’s life insurance sector, crowded with 61 players, is dominated by China Life and Ping An, which combined make up close to 50 percent of the entire market. The non-life space is dominated by PICC Property and Casualty Co Ltd, which holds a 37 percent market share.

Foreign players have clearly failed to cash in. Of the 47 foreign insurers and JVs operating in China last year, only 11 made a profit, according to Moody’s. Despite their numbers, the foreign share of China’s life insurance market has shrunk to less than 5 percent from a peak of 8.9 percent in 2005. The non-life piece of the pie is but a sliver at around 1 percent.

In China, their troubles have been compounded by an influx of local entrants in recent years, some of which now boast much wider sales networks, while a growing number of major Chinese banks also have made forays into the industry, threatening the main sales channel for some foreign insurers.

Frustrated and disillusioned by the slow pace of deregulation and increasing local competition, firms such as AXA SA and Sun Life Financial have reduced ownership in their China joint ventures over the past year. New York Life quit China completely in January.

The main regulatory hurdle facing non-life insurers is the lack of access to compulsory third-party motor insurance policies. Analysts say this greatly hinders their ability to compete in the auto insurance market, which makes up more than 70 percent of non-life premiums.

According to a PriceWaterhouseCoopers survey released on Monday, most of the 28 life and non-life insurers expect their market share to stagnate around current levels over the next three years. It also showed that the level of commitment of foreign insurers toward China has been falling since 2008.

Despite the gloomy outlook, analysts say it is unlikely that foreign insurers will abandon the Chinese market altogether given its potential. They also need to be in the world’s second-largest economy to ward off a slowdown in United States and Europe.

BCG estimates that China’s gross written premiums will grow around 11 percent every year between 2010-2017, compared with an annual pace of about 4 percent in the United States, 2 percent in Japan and less than 1 percent in Britain.

“It’s very important for investors to participate in the China story. There’s not much growth in the U.S. and Europe and if you look eastward, China remains an attractive market,” Moody’s Yim said.

Takaful Potential

2011-12-09T16:42:00.001+08:00

Bank Simpanan National (BSN) aims to aggressively grow its newly launched wealth management division by tapping into the underserved takaful market.

Its deputy chief executive of credit management and business support Winston E. Jeyaprakash said it is looking for the wealth management division, which was launched in June, to contribute between 12% and 15% to the bank's revenue by end-2012

"It (takaful business) is a lucrative market because the penetration rate is low in this country. The majority of BSN's customers are Muslim and it is a lucrative avenue for us to tap into," he told reporters yesterday at the launch of Giro Takaful Hajj.

He said the division aims to provide a full range of financial planning products and services to complement the overall business of the bank with further value-added products and services.

"We noticed the growing demand for financial management products among Malaysians, whether financial planning for retirement, education, healthcare or others. We offer products for each lifecycle to support the financial needs of our customers," Jeyaprakash said.

He added that BSN is looking to package products from its wholly-owned subsidiary Prudential BSN Takaful Bhd (PruBSN) with existing products.

Jointly launched by PruBSN and BSN, the Giro Takaful Hajj is a family takaful plan that provides protection and savings.

Available since August, Jeyaprakash said it is the sixth product launched under the PruBSN and BSN partnership and sales have been encouraging so far.

PruBSN CEO Azim K. Mithani said: "Building on our relationship with BSN as a shareholder and distributor is crucial and vital towards growing our bancatakaful business and is in line with PruBSN's aspiration to be the number one local takaful operator."

He added that as of June, PruBSN's share of the takaful market in Malaysia was 27%, making it the second biggest company in the industry.

PruBSN distributes its products through its own agencies, Affin Islamic and BSN, which currently has eight million customers and 385 branches. BSN opens eight to 10 new branches each year.

Critical Illness Cover

2011-12-09T16:32:00.002+08:00

An eighth successive decline gave the FTSE 100 its longest losing streak since 2003 with Prudential among the fallers. Prudential slid 3.5 per cent to 555p as analysts questioned whether management’s targets were realistic in the market turmoil.

At a meeting last week in Kuala Lumpur, Prudential said it remained on track to double Asian new business and profits by 2013.

“We’re left still struggling to see how they would meet these,” said Exane BNP Paribas. “The main justification appeared to be extrapolation of first-half trends. The rather gloomy economic outlook was not mentioned.”

Prudential has boosted growth in markets such as Malaysia by cross selling to existing customers, a trend Exane argued would not be sustainable.

Feedback from agents also suggested to the broker that customers might be buying critical illness cover thinking it was income protection. (One lump sum is paid upon policyholder being diagnosed for 36 Critical illnesses.)

“The company risks long-term brand damage if policyholders expect payments for illness which are not paid by the group,” said Exane. It forecast Prudential to fall short of its Asian new business target by more than a third.

Develop Entrepreneurs Not Agents

2011-12-09T16:08:00.004+08:00

Generation Y doesn’t identify with the idea of being insurance agents but are wired to be entrepreneurs.

Young Lions
The young lions want to be heard and to be understood. They want to get there (to running their own businesses) faster than did today’s older producers. They want to grow their business and achieve success, which for them includes balance.

Not Novices
Young Lions are not novices. The mean age of the young lions in the MDRT study was 39. Forty percent were women, and 48 percent have children in the home. Sixty-three percent qualify for MDRT.

Less of the young lions’ income comes from life insurance compared to other producer segments, and more is coming from investments. 32 percent are certified financial planners.

Generation Y knows What They Want
It’s social first and media second. They are addicted to networking, personal development and spending a lot of time on prospecting. They read more of what consumers read about finance versus the insurance industry publications, and they are far more likely than other segments to use social media—primarily Facebook.

Young lions want to hear from people who know more than they do, because they believe this will help them grow their businesses. They are not interested with had-been agency leaders who continue to recyle past success that is outdated in today's business practices.

Young lions have a laundry list of business topics they want to know about. Sales ideas (79 percent), filling the prospect pipeline (77 percent), and branding and marketing of the business (71 percent).

They are also interested in profitability and return on investment analysis and strategy (71 percent), business expansion via other products and services (71 percent), creating a blueprint for growth or business plan (68 percent), and business valuation/succession planning (65 percent).

Balanced Life
58 % expressed interest in achieving work-life balance.

Older baby boomer producers did not start out with business ownership in mind. Many entered the business as young career or captive agents. Malaysian Insurers and their agency leaders told them, ‘here is the path; get on it.’ And that’s what they did.” It was "Sales Focussed" - a basic feet-on-the-street approach to sales.

Business development often came later in the boomers’ careers. The work often centered on face-to-face meetings with customers, though some did take advantage of the internet and other emerging technologies. Few boomers have adopted social media approaches, however.

Provide entrepreneurship education
One way to help close the gap is to provide the entrepreneurship information and education that many Generation Y producers are seeking.

“You would think it’s already there, in the industry’s existing education and certification programs or other educational resources. But the majority of what is taught is around making the sale and not around developing the business.”

Climbing Corporate Ladder

2011-12-09T15:12:00.005+08:00

Using the bell-shaped distribution curve, there are generally three groups of employees in an organisation. The top 10 per cent of high fliers, the bottom 10 per cent of 'limited contributors', and the remaining 80 per cent of solid citizens.

If you think you belong to the top 10 per cent - well, you don't. You will know when you are there - you don't have to think. How?

The quantum of your bonuses, consistently for the past three years could be one factor, and oh, yes, the frequency of your engagement with the decision makers, and how often your views are sought.

If you are in the bottom 10 per cent, maybe you should be asking yourself, 'Why am I here? And what do I want to do about it?'The signs: similar to the above but on the opposite end of the spectrum.

Decision makers typically decide who they promote based on three key factors.

Past performance, future potential and the ability to get along well with others.
We often read in the media of individuals being promoted to assume higher levels of responsibilities in the C-suite.

And we also often wonder, why did they decide on this person? I am not a betting man, but I will take a side bet to say it is based on the three factors I've highlighted. In terms of weightage, I would say that it would be potential, getting along with others, and then past performance.

If you are in the 80 per cent ocean, and want to swim ahead and be at the top 5 per cent of this hugh group, here's some basic tips to set you thinking so you have a better chance of getting yourself into the top 10 per cent.

Ask for more
On an on-going basis, ask for additional work and responsibilities from your boss. As I always say, few good things in life come easily. 'More' here means you have to give more of yourself - your time, your energy, etc to be able to attain the additional corporate goals.

Another adage for you - in life, you inevitably have to endure short-term pain and inconveniences for long-term gain. Adding more things onto your plate is a two-way street - you get to contribute more to your team, and at the same time, you acquire additional knowledge and skills, which will serve you well as you progress up the corporate ladder.

I always struggle with which is more important, working smart or working hard. In my generation (Baby Boomers), it was mostly the former that took precedence. I've since come to the conclusion that it is a combination of both, with hard work being more important to success.

Read and network a lot more
Staying on top of developments and changes in your industry is imperative to career progression. Some industries can be more challenging than others as they tend to change and evolve more rapidly - the technology sector comes easily to mind here.

If you happen to be performing a business functional role, it is critical that you be updated on the latest cutting-edge thinking and development as well, for example, Basel III (banking and finance) and reverse mentoring (talent development).

Focus on your job, and within your organisation as these are important. But, do not stop there. Allocate time and be disciplined about reading up on your industry, new developments, changes within leadership teams, etc.

Another avenue to do this, plus get to meet more people is to be purposeful in attending events that allow you to network with others. Getting to know more people, and getting yourself known by others is so important these days. As they say, it is important that you know people, but absolutely critical that people know you.

Hearty appetite for embracing change and technology
If there is a word equivalent for something as universal as food for survival, that would be 'change'. If you are already comfortable with change - work towards embracing, and maybe even be an initiator of change - a change agent.

Changes keep the world revolving, and help us do things better, faster, quicker, and cheaper. Effective leaders accept that technology in business is here to stay. For our current Gen Y's, and future Gen Z's - this should be an easier thing to achieve as you all grew up with technology as your playmate. For the rest of us, well, we just have to try a little bit harder.

Be visible, audible and mobile
It does not really make much sense if you are a fabulous contributor, taking on extra responsibilities, and doing everything I've written about here, and no one knows about it, right?

In the same breath, I hasten to add that it also does not mean that you should blow your own trumpet anywhere, and everywhere.

Innocently copying in your bosses on an e-mail which contains information on your surpassing the revenue target, for example, would be a clever way of keeping yourself within the radar screen.

Volunteering to do a management presentation, or chairing a business discussion forum, when it is appropriate, could be a platform for you to be heard (and known) by people who matter. Needless to say, you have to really prepare yourself well so your 'performance' is close to being flawless.

If you can write and speak well, seek platforms to represent your business in public speaking engagements - as an industry expert and practitioner, and/or contribute your views via the media.

When you speak or write on a particular topic, for example, supply chain management, or for my reporter friends, how to get a scoop, people perceive you as an expert in that space. This will earn you career mileage, both within and outside your employing organisation.

Lao Da My Foot

2011-12-07T11:19:00.005+08:00

He now calls his time with the Sunshine Empire the darkest period of his life. But when he was in the multi-level marketing firm then, he felt as though the sun would never stop shining.

Mr Malcolm Chew, 25, spent all his savings and about $100,000 received from his loved ones to buy Sunshine's "lifestyle packages" in 2006. "People told me then that it was too good to be true. They told me not to believe in it. But I did," he said.
He lost 70 per cent of the money when Sunshine crashed in 2007, and joined tens of thousands of other customers left high and dry after buying the firm's packages.

Mr Chew told The New Paper on Wednesday that he was in his second year of national service six years ago when a friend invited him to a "self-help seminar". "I was told I could learn about entrepreneurship and how to start making money from a young age," he said.

Although he has since lost touch with that friend, Mr Chew vividly remembers the day he attended the seminar. That was the first time he saw James Phang Wah, founder and head of Sunshine Empire, in action. Phang, who was known as Lao Da (Mandarin for big brother or chief), was a "very charismatic" man, he said.

Mr Chew added: "He was like a very inspiring preacher, telling us how to live life successfully. "I saw him hug his wife on stage and was touched. I thought, 'This man is a good guy. I want to be like him'."

The salesmen, who were Phang's followers, were always smartly suited, in shirt and tie, he said. After Phang's court appearances, these men waited to whisk him away in a convoy of luxury cars. Said Mr Chew: "These salesmen would say, 'Do you want to be a pioneer in this project? Don't let the opportunity go!'"

Said Mr Chew: "I realised I had been ignorant, arrogant, proud and brash. My actions had displeased and disappointed many." "Words can't express the myriad feelings I went through with Sunshine. I hope no one else walks that path. "But I'm not looking back. I'm looking ahead instead."

Trong Phra Charoen

2011-12-05T22:13:00.002+08:00

In a rare public appearance on Monday to mark his 84th birthday, Thailand's King Bhumibol Adulyadej called for an end to political conflicts and asked his subjects to work together to help the millions affected by floods that have devastated the country. Although flag-waving crowds estimated in the hundreds of thousands chanted "trong phra charoen" (long live the king!) as his motorcade wound its way from a riverside hospital to the golden-spired old Grand Palace in Bangkok, the celebrations were muted at the request of the king because so many Thais were still suffering.

The Dalai Lama

2011-12-02T15:58:00.003+08:00

The Dalai Lama said Chinese officials sometimes behave childishly. “I look at people, including the Chinese, at a fundamental level in which everyone is human. These are no differences, from the way we are born to the way we die. But at times, the Chinese government calls me a demon. I may be a demon but not that bad a demon,” he said.

Ethical Leadership Thinking

2011-12-02T12:46:00.003+08:00

When dealing with a troublesome business problem, it’s easy to get carried away and begin to attack people instead of the problem. This wastes time, takes energy away from finding solutions and leaves people demoralized.

Let’s look at the important differences between attacking people and attacking issues:

When we Attack a Person our Language is Less Respectful and Our Thinking is Narrowing
When we attack people, our thinking narrows and our approach is not usually responsible. Our words may not be carefully chosen and we may speak in anger.

■ We use raised voices and disrespectful language
■ We accuse and blame, which leads away from solutions
■ We have no tolerance for other perspectives

When we Attack an Issue, We are More Respectful and Our Thinking is Broadening
When we attack issues, we use a much more respectful approach with others. We focus on getting a more complete perspective, and seek to understand the issue more clearly.

■ We are seeking information
■ We are seeking understanding
■ Other perspectives help us understand the issue
■ We are more respectful

Examining Our Thinking and Our Leadership
If you think that as a leader you would never attack a person, ask yourself this question:

Have I ever made remarks (even if they are made privately or intended to be a joke) about a political party, person, organization, entity, club, or any other group of persons that sounded disrespectful to anyone else? How did it make them feel? Did they let me know?

When we attack a person or group, we erode trust, even if the person we are attacking is not there. If we will attack someone who is not present it raises the concern that we may berate others when they are not there to defend their reputations.

Attacking Issues or Attacking People?
■ Which problem-solving approach do you think is more ethical?
■ Which approach are you modeling and rewarding in your leadership?
■ Which approach do other leaders in your organization use?

Leadership : Small Business

2011-12-02T12:32:00.003+08:00

Are you a leader just because you run a small business? No. But you need to be. Without business leadership, your small business ship will circle aimlessly and eventually run out of power.

Effective business leadership demands a captain of the ship, not just someone who's standing by the helm. Leadership is active, not passive.

Cool-headed, farseeing, visionary, courageous - whichever adjectives you choose, leadership is a winning combination of personal traits and the ability to think and act as a leader, a person who directs the activities of others for the good of all. Anyone can be a leader, even if the only person they're leading is themselves.

But you can't be a leader just by saying you are. Business leadership, like leadership of any kind, needs to be worked at. Transform yourself into the kind of leader your small business needs with these five keys to business leadership.

For Effective Business Leadership:

A leader plans
The core of business leadership is being proactive rather than reactive. Sure, leaders are good in crises - but that doesn't mean they sit around letting crises develop. Leadership involves identifying potential problems and solving them before they reach crisis proportions – and the ability to identify and reap potential windfalls. So good leaders analyze and plan and adapt their plans to new circumstances and opportunities.

A leader has a vision
Vision is essential to good leadership. Vision provides direction and without direction, there’s not much point to all that planning; your small business will still flail about. So if you don’t have one already, take your first step towards business leadership by creating a Vision Statement for your business. Because it embodies your dreams and your passions, a vision statement will also serve as a leadership vision.

A leader shares his/her vision
Sharing your leadership vision helps your vision grow and your business leadership develop. As you tell your leadership vision to others, you will strengthen your own belief in your vision and strengthen your determination to make your leadership vision become reality. And other people will start to see you as a person who's "going places". Your business leadership skills will grow as you and other people recognize you as a person with leadership potential.

A leader takes charge
At this stage of business leadership, you put together your planning and your leadership vision and take action. Whether it's implementing a specific plan to improve your business's bottom line or responding to a crisis, you, as the leader, are the one who makes the decisions and sees that the appropriate actions are carried out. You can't just "talk a good game" to be a leader; you need to act and to be seen as taking effective action for the good of your small business.

A leader inspires through example
If I asked you, you could easily name three people whose leadership qualities inspire you. If I asked you why, you’d tell me about the things these inspiring people did or are doing. Leadership is defined through action. Therefore, in developing your own business leadership skills, you have to act in ways that are fitting to your leadership vision and your self - all the time. We can all name many actions of other people whom we admire, but what inspires us is the integrity that gives these actions meaning.

Learning to be a leader isn't easy because it takes a conscious commitment and consistent effort to develop one's business leadership skills. But on the positive side, anyone who is willing to make the effort can become a good leader.

And as good business leadership is critical to business success, your efforts to improve your leadership skills will be amply rewarded. By working on these five keys to business leadership, you can be the leader your small business needs.

Graduates & Employment

2011-11-29T12:53:00.002+08:00

571 human resource practitioners who took part in the survey - 64 % felt that the top reason why fresh graduates were rejected after the interview sessions was because the candidates were asking for unrealistic salary or benefits.

It said the second and third reasons for rejecting fresh graduates were the “bad character, attitude and personality of the jobseekers” (60 per cent), followed by “poor command of English language” (56 per cent). Another 38 per cent said that they tended to be too choosy about the job or the company they wish to work for.

The survey results also indicated that 86 per cent of employers do not discriminate against graduates from a specific type of university and that they have no qualms hiring fresh graduates from a local public university, a local private university or a foreign university.

On the question of the quality of our fresh graduates today, 66 per cent of respondents rated them as ‘average’ and 23 per cent rated them as ‘poor’.

According to government statistics, 71,000 people with diplomas or degrees remain on the job hunt, almost 20 per cent of the total number of unemployed which is 388,000.

Dog More Loyal Than Human Friend

2011-11-27T16:56:00.002+08:00

Mr Lao Pan was unmarried and had no known relatives. But the 68-year-old loner, who lived modestly in Panjiatun village near Qingdao city in China's Shandong province, had a loyal friend in his dog.

Early this month, Mr Lao died. And in a touching scene of loyalty, the dog has refused to leave its master's grave, BBC News reported. The report said that the pooch even went without food for seven days, lying next to the grave as if waiting for Mr Lao to return.

The villagers have been desperately trying to lure the animal away from the grave, but have been met with stubborn resistance so far. Sky News reported that since noticing the pooch, villagers have been bringing food and water to the gravesite, and are even planning to build a kennel there.

A concerned local tried to take the animal home with him, but to no avail. "I saw the dog when I was working in the field, and I called him, and wanted to take him back home because I also have a dog," the man told the BBC.

"I gave him a steamed bun when it came to my home. The dog took the bun and ran back. "I tried to catch it, but it ran even faster back to the tomb and stayed there."

Miracle Tea

2011-11-19T20:18:00.004+08:00

Gynostemma Pentaphyllum, also known as Jiaogulan is an herbaceous vine commonly found in China, southern Korea, Japan and other parts of Asia. This therapeutic vine belongs to the cucumber or gourd family, scientifically called as the Cucurbitaceae family.

Aside from its original name, it is sometimes referred to as “Southern Ginseng” because of its likeness to the chemical composition and function of ginseng. Some call it as Xiancao, which means “immortality herb”, because of its ability to grow wild and its healthy benefits.

Scientific studies found out that Gynostemma Pentaphyllum has disease-prevention and therapeutic features. It contains numerous saponins (soapy chemical compounds), trace materials, amino acids, vitamins and proteins. Well-known as an herbal medicine, it is famous for its anti-oxidant and adaptogenic effects. Herbs with anti-oxidants help prevent aging. The adaptogenic characteristic of Gynostemma Pentaphyllum makes it superior over ginseng . Gynostemma as an adaptogen increases the body’s resistance to stress, trauma, anxiety, and fatigue. What makes Gynostemma an amazing herb is its anti-aging and rejuvenating effect.

Gynostemma Pentaphyllum turns out to contain more saponins than ginseng, which makes it more powerful in regulating bodily systems such as blood pressure, the reproductive system, the digestive system, the immune system, and more.

Scientific studies also show that Gynostemma has the ability to decrease cholesterol by improving the liver’s performance in sending sugar and carbohydrates for conversion to energy instead of being stored as fat. It lowers the body’s bad cholesterol while raising the concentration of good cholesterol. Furthermore, it helps improve fat metabolism by reducing the blood fat level and the fat sediments in the blood vessels.

Gynostemma Pentaphyllum does not only work against high-cholesterol and obesity. It can also facilitate absorption of nutrients and gaining of weight through improving and strengthening our digestion. Such is the adaptogenic power of Gynostemma Pentaphyllum.

Aside from working for our body, Gynostemma also has the power to work for our brain functions. It has been proven to have biphasic effect, which boosts up or calm the system depending on our body’s need, helping us to cope with stress. It also aids in regulating the hormonal functions in both men and women.

Gynostemma Pentaphyllum is truly an amazing herb. It does not only strengthen and rejuvenate or body, it helps our brain functions too. More than just preventing diseases and increasing our body’s resistance, it also improves our physical and mental performance. It will serve well for anyone who desires to improve their athletic performance, remain young, and stay fit.

Note: You can buy at any Tea shop in KL RM12.00 one big bag

Business Partners

2011-11-15T20:53:00.004+08:00

Business partnerships are one of the most unique and trying relationships we will ever enter. Some work, but most fail. Here are four warning signs that our relationship with our business partner(s) may be headed for failure. Please note that this article assumes that business partnerships are in the Sendirian Berhad.

No Operating Agreement - many states do not require a Sdn Bhd to have an operating agreement, and, therefore, many business owners and entrepreneurs do not understand the importance of this legal document. The operating agreement is the agreement between all of the owners, or members, on how the business will run, who will be in charge, and so much more.

It started with three friends getting excited about an idea. As time passed the expectations, time commitments, investment, and basically everything else related to these "equal" partners fell completely out of balance. Arguments replaced friendship and greed supplanted a desire to share everything equally.

Partner Pride -This is something that usually shows up when a partnership begins to have struggles and accelerates its demise. Partner's pride allowed him to minimize his main partner and falsely establish himself as something he was not.

Compensation and Equity are Confused -Let me be as straight-forward as I can with this topic. Too often I see entrepreneurs, founders, and business owners that confuse equity and pay/compensation. These two items must be separated in order to set your partnership up for success. Please note that the legal and tax structure of the business may determine the best ways to receive both wages and profits, but that should not dictate the separation, at least mentally and emotionally, of the two.

Beginning without the end in mind -perhaps all of these points lead to this one - the need to contemplate every way the partnership will need to end or be dissolved. In addition, beginning with the end in mind implies that a partnership will have planned exits as well. Selling a business can be very rewarding, and a partnership needs to look down the road to how each of the partners will exit.

Change Or Die

2011-11-12T21:37:00.001+08:00

The retail industry will become extinct if there is no change in its management and mindset of its operators, Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Ismail Sabri Yaakob said.

He said the management system of retail business should be improved to get local youths to venture into the industry.

The old system failed to attract local youths, resulting in outsiders, including hypermarkets, competing to conquer the retail business, especially in the small towns and the rural areas, he added.

So far, he said, the government had been able to prevent them from monopolising the industry.

"There will come a time when we have to allow them in the name of trade liberalisation to go into convenient store business or to open small clothing stores," he told reporters.

He said the participation of foreign-owned hypermarkets in the retail industry could lead to them monopolising the retail business in the small towns and villages.

"If we are not ready to change, in terms of retail business and financial management, attitude and mindsets, I'm worried that we might not be able to compete with them and, in the end, we close our shops and everything belongs to them," he added.

Who Is Sean Quinn

2011-11-12T12:44:00.003+08:00

Ireland’s former richest man, Sean Quinn, was declared bankrupt today after having bet the family fortune on the shares of Ireland’s most notoriously profligate bank just before it collapsed.

Quinn, 64, developed a quarrying operation in the northern county of Fermanagh in 1973 into a global organisation with insurance and property interests.

He amassed a fortune of €4 billion (RM16.7 billion), before investing massively in the now failed Anglo Irish Bank, one of the biggest casualties of Ireland’s property bubble.

“It is with great sadness and regret that I have applied for voluntary bankruptcy in the High Court in Belfast today,” Quinn (picture) said in a statement. A court spokesman confirmed the court had declared him bankrupt.

Certified Financial Planner

2011-11-11T17:49:00.003+08:00

He or she is a person with certified financial planner (CFP) or registered financial planner (RFP) credentials. A person with a CFP or RFP has a valid membership with a professional financial planners association and is registered with the Securities Commission under Section 59 of the Capital Markets and Services Act 2007 and performing the regulated activities of financial planning as defined in Schedule 2 of the Act.

Schedule 2 of the Act says that “financial planning” is a regulated activity and defined as the activity of analysing the financial circumstances of another person and providing a plan to meet that other person’s financial needs and objectives, including any investment plan in securities, whether or not a fee is charged in relation thereto.

“No person shall act as a representative in respect of any regulated activity or hold himself out as doing so unless he is the holder of a Capital Markets Services Representative’s Licence for that regulated activity or is a registered person with respect to that regulated activity.

“A person who contravenes subsection (1) commits an offence and shall, upon conviction, be liable to a fine not exceeding RM5mil or to imprisonment for a term not exceeding five years or to both.”

Moreover, she reiterated that financial planners could source products for their clients at competitive costs from a wider range of product providers.

A Tribute to Mr. Sugu

2011-11-11T17:04:00.004+08:00

My last visit to Puchong Medical Specialists Centre was probably around June this year. I had to take some X-rays because of this minor but irritating pain at the back of my neck and backbone.

As usual, Mr. Sugu, the X-ray Technician helped me complete the task quickly with ease and comfort. Sugu is one of the greatest gentleman that I am most honored to meet. Always smiling, friendly, soft spoken and helpfull.

Today (11-11-11), I drove to Puchong Medical Specialists Centre (with my wife) to hand over a present for Mr. Sugu and to say "Hello" and wish him well on this special day.

Imagine our surprise and sorrow having been told that he passed away in September due to a heart attack. Sugu was only 47 years of age, leaving behind a spouse and 2 children.

We pray to God that he will care, comfort and protect Mr. Sugu. We will surely miss our friend, his smile and warmth. Today is a sad day for us.

Who Is Choo Hong Eng

2011-11-10T18:18:00.002+08:00

The hawker who ignited a media brouhaha after being denied of her jackpot winnings worth $410,000 by Marina Bay Sands (MBS) will be getting it in full after all.

The casino had initially refused to pay Ms Choo Hong Eng the 'cash bonus' of $416,742.11 that was displayed on the slot machine's screen on Oct 18, saying that the machine had a cash limit of $50,000, and the message was due to a malfunction.
It offered to pay her $50,000 and give her a sports car worth $258,962.

It all began when the one-armed bandit she had parked herself at lit up, showing her that she had won over $400,000. But a casino employee told her it was an error.

Unhappy at not being given her full winnings, the vegetarian food stall hawker, went to the extent of hiring a lawyer to fight her case. She also complained to the Casino Regulatory Authority (CRA).

MBS' offer came before CRA has issued its decision. Ms Choo has since withdrawn her complaint, according to The Straits Times.

Ms Choo said she will be donating all of her winnings to various charities, including the Ren Ci Hospital, the National Kidney Foundation and the Kwong Wai Shiu Hospital.

Bad Day or Bad Boss

2011-11-07T16:57:00.001+08:00

COMPANIES with strong leadership and a positive workplace culture are significantly more productive and profitable than their less progressive peers, new research presented at the federal government's jobs forum shows.

An 18-month study by the Society for Knowledge Economics found that High Performing Workplaces have 12 per cent higher productivity than Low Performing Workplaces when ranked in terms of their innovation, employee engagement, fairness, leadership and customer satisfaction.

How would you change your workplace to help everyone work better? Scroll down the page to take our New Work Project survey.

"It is clear from this research the key to increasing productivity at the workplace level comes from investing in people rather than changing the industrial relations system," Jobs Minister Chris Evans said.

The report found that the quality of an organisation's leaders and their ability to innovate and create positive employee experiences was directly related to the organisation's financial performance and productivity.

It also found that the average profit margin of High Performing Workplaces was three times higher than those of Low Performing Workplaces.

"The Gillard government's investment in workplace research shows we are committed to exploring every possible avenue to create better jobs, smarter workplaces and a more productive economy," Senator Evans said.

"This report provides clear evidence that improving Australia's productivity can be achieved by developing leadership and management capabilities in Australian workplaces."

The report involved 78 companies and more than 5000 employees.

Medical Leave

2011-11-04T16:51:00.001+08:00

A the head of Human Resources at a very large bank, says that the best excuse for absenteeism, that he had ever received in his career of almost 22 years, was from a female Indian employee, at their bank's head quarters at Mumbai, India, in July, 2010

He says when the lady, was questioned on why she remained absent the previous day, she simply replied .......

"But sir, I had no option. My husband was on casual leave yesterday and was at home. By mistake he took pills from the wrong bottle in our medicine cabinet and ended up consuming an over-dose of Viagra! Now how could I have left him, all alone at home, with the house-maid?"

Mental Block

2011-11-04T16:49:00.002+08:00

If you start with a cage containing five monkeys and inside the cage, hang a
banana on a string from the top and then you place a set of stairs under the
banana, before long a monkey will go to the stairs and climb towards the
banana.

As soon as he touches the stairs, you spray all the other monkeys with cold
water. After a while another monkey makes an attempt with same result ...all
the other monkeys are sprayed with cold water. Pretty soon when another
monkey tries to climb the stairs, the other monkeys will try to prevent it.

Now, put the cold water away. Remove one monkey from the cage and replace it
with a new one. The new monkey sees the banana and attempts to climb
the stairs. To his shock, all of the other monkeys beat the crap out of him.
After another attempt and attack, he knows that if he tries to climb the
stairs he will be assaulted.

Next, remove another of the original five monkeys, replacing it with a new
one. The newcomer goes to the stairs and is attacked. The previous newcomer
takes part in the punishment... with enthusiasm.

Then, replace a third original monkey with a new one, followed by a fourth,
then the fifth. Every time the newest monkey takes to the stairs he is
attacked.

Most of the monkeys that are beating him up have no idea why they were not
permitted to climb the stairs. Neither do they know why they are
participating in the beating of the newest monkey. Finally, having replaced
all of the original monkeys, none of the remaining monkeys will have ever
been sprayed with cold water. Nevertheless, none of the monkeys will try to
climb the stairway for the banana.

Why, you ask? Because in their minds...that is the way it has always been!

Life Insurance Malaysia

2011-10-30T15:57:00.000+08:00

The life insurance industry will experience encouraging growth next year spurred by the current low penetration rate of 42.8 per cent, said the Malaysian Insurance Institute.

Chief executive officer Khadijah Abdullah said 12 million policies were issued for the year ended 2010 in a country of 28.3 million people.

"By 2020, the penetration rate for life insurance is projected to reach 75 per cent," she said at the Bumiputera Life Insurance Agents Convention 2011 and presentation ceremony for Bumiputera Agency Managers and Top Personal Producer awards here today.

Some 940 bumiputra life insurance agents attended this year's convention themed "Agents -- Catalyst for Insurance Development."

Khadijah said insurance agents hold 53 per cent of the distribution channels in the life insurance sector, followed by the banking sector at 38 per cent and broker and direct customer channels with 3.8 per cent and five per cent respectively.

Meanwhile, Life Insurance Association of Malaysia past president Adnan Zain said the life insurance industry, which normally outperforms the gross domestic product, is dominated by a mix of foreign and local players.

Life Emergency Fund

2011-10-20T15:56:00.003+08:00

"It's humiliating for me to ask for public donations for my cancer treatment," admits ailing actress Azean Irdawaty. "But I don't have a choice. My medical bills cost RM30,000 a month and I'm the major breadwinner in the family."

The Malay movie queen, who is now bedridden, is battling stage four cancer. The cancer has already spread to her spinal chord, according to her doctor.

"I tried going to a government hospital, but they mistreated me," she claims. "So I'm in Beacon because a fan, who is a doctor here, is kind enough to sponsor my treatment for a week."

Her huge financial burden is made up of CyberKnife (the latest radiosurgery treatment for tumours), endless medication, private nurses, physiotherapist, adult diapers and legal fees for her troubled son - actor Benjy - who was arrested on suspicion of drug abuse last year.

But Azean, well loved for her charisma as an actress - playing everything from a haughty Datin to HIV-positive patient to jilted wife - is not one to weep in self-pity.

Despite being confined to her hospital bed in Beacon Hospital in Petaling Jaya, Selangor, the 61-year-old displays strong fighting spirit, saying "I am not the type to lament and ask ‘Why me?’ I choose to stay positive. I want to feel good. I like to celebrate every single moment of my life."

Azean refuses to look sick - so much that she insists on wearing make-up in the hospital!

"When I was first diagnosed with stage three breast cancer in 2007, the doctor said I had only two years to live and asked me to write a will," she recollects with a laugh. "But I told him I had asked God for another 20 years. And I'm still around."

Generous fans who wish to help Azean can bank in their donations to her RHB Bank account: 16240100009490.

He's My Brother

2011-10-16T11:17:00.004+08:00

Two young boys walked into a pharmacy one day, picked out a box of tampons and proceeded to the checkout counter.

The man at the counter asked the older boy, "Son, how old are you?"
"Eight," the boy replied.

The man continued, "Do you know what these are used for?"

The boy replied, "Not exactly, but they aren't for me. They're for him. He's my brother. He's four.

We saw on TV that if you use these you would be able to swim and ride a bike. Right now, he can't do either."

Complaints on Life Insurance

2011-10-14T13:20:00.002+08:00

Many people are at a loss when it comes to applying for a health and life insurance policy. A critical illness cover is no different. This type of insurance provides a single, lump sum payout should the insured become critically ill or injured as defined in the policy’s language.

But there is a catch: insurance companies do not just grant critical illness cover to any or everyone who applies.

Taking out a critical illness insurance might not be the most pleasing thing to go shopping for, but at least it’s practical, especially if your mortgage or business depends on you being fit enough to work.

The premise is that you’ll receive a payout from your insurer, depending on how much you pay them, for a diagnosis of a critical illnesses within six core areas: heart attack, kidney failure, major organ transplants, multiple sclerosis, stroke and cancer.

So imagine how you’d feel if you did get cancer, but your insurer said it didn’t count – which is what happened to Sally Wong*.

In addition to being told she has cancer, Sally also found out she’s not going to receive any of the financial support she thought she’d paid for after being diagnosed with an early form of breast cancer called Ductal Carcinoma In Situ (DCIS).

This is when a non-malignant tumour has been found, which has the potential to become malignant and spread, but because it’s caught early it is still contained.

Sally took two critical illness policies out with an insurance company in 2001, costing RM500 a month and was diagnosed with DCIS in March 2006, and it was explained to her that her form of cancer, while still in the “in situ” phase, was also high-grade and therefore likely to become invasive. If this was allowed to happen, she would stand a low chance of survival.

She was given immediate surgery to remove the lump, followed by radiotherapy treatment to reduce the chance of the cancer spreading. An important factor in ensuring against this was to rest and recuperate. Fortunately, Sally had taken out a critical illness policy to protect her from having to work.

Or so she thought.

An impossible situation
Sally’s claim was rejected because the type of cancer she had was excluded from her policy. The insurance company told her that the medical information for her illness did not support a valid claim.

She recalls: “When I read the policy, not knowing very much about cancer, I thought of it as one disease – I didn’t know it comes in different forms – and I didn’t know what in-situ meant. It was explained to me that it was a type of cancer that hasn’t progressed to the type that could kill me – yet – and they don’t cover you for this.”

Sally took her case up to the Finance Ministry, but they told her they felt that the documentation was clear, and therefore were unable to uphold her complaint against the insurance company.

The women that get DCIS are put in an impossible position – they need to have the necessary treatment to remove it before it invades, but in doing so won’t receive the money they need, because their critical illness policy only covers them if it spreads.

That means if the cancer hadn’t been detected, and had spread, she could have received a payout.

Instead, Sally was forced back to work soon after her first diagnosis – and unfortunately was diagnosed with DCIS again in December 2007.

“When I was told I had in-situ again I thought to myself, ‘I can’t afford to have this – what’s my family going to do’? I felt desperate – I was told I needed months off work. You even end up thinking if it had invaded, at least I wouldn’t be a financial burden,” she added.

Because it had returned, they took no chances and removed the breast completely. However, complications with her skin healing following the mastectomy led Sally to need a further eight operations, leaving her physically unable to work.

“I feel that I’ve never fully gained my strength and can only do a fraction of what I could before I had my mastectomy. It’s a disabling amputation – one that leaves you totally incapacitated – but I’m never going to get any money.”

A standard practice
The fact is, it’s a standard practice across the industry to exclude carcinomas in-situ – cancers that haven’t yet invaded surrounding tissue. Insurers maintain they’re only able to offer cover for the conditions which are generally considered to be immediately life-threatening – and because screenings for breast cancer find cancers before they reach a life-threatening stage, they say this means they don’t count it as a critical illness.

An insurance agent who declined to be named offered this explanation, “Cancer in-situ is specifically excluded from the critical illness cover offered by many insurance companies because there’s a good possibility that cancer at this early stage will respond to treatment.

“All customers are given a ‘key facts’ document which lists the high level conditions that are covered by our policy, but not all types of these conditions are covered. This document also tells customers where to find full descriptions of the conditions covered.

“We’re committed to ensuring that our customers understand what they’re buying and we feel it’s up to the whole industry, including insurance companies and advisers, to help customers understand their cover.”

It all seems very unjust to Sally who said, “One type of insurance is telling me I don’t have a critical illness but when I want to take out holiday insurance they won’t cover me because my condition is considered critical. Is it not critical that you have a breast removed? I’ll die if I don’t. That’s pretty critical in my book.”

Azlina Firzah Abd Aziz, consultant breast surgeon at the Pantai Medical Centre (Breast Care Centre) sheds some light on the ways insurance companies work.

“Carcinoma in-situ is a growth that is in the original site and although it hasn’t broken through the lining, it does not mean it is not cancer. It just means that it has not gone beyond the point of origin.

“It is still cancer. What I don’t understand is insurance companies not covering carcinoma in-situ.”

On breast cancer, she said, there are also some insurance companies which say that claims are only accepted for advance stage breast cancer – not even stage one or two is accepted for claims.”

*Not her real name

Great Opportunities - Insurance

2011-10-08T14:07:00.004+08:00

New business premiums for life insurance were lower by 1% to RM4.7 billion (jan-Jul 2010) following the decline in ordinary life by 8.6% (to RM3.4 billion) due to lower sales of whole life, endowment and temporary products.

New premiums for investment-linked products grew 24.3% to RM1.4 billion (Jan to Jul 2010)

Market penetration rate for life insurance increased from 41.5% (end of December 2010) to 44.9% (end of July 2011) suggesting more Malaysian are purchasing life insurance policies.

Do Business

2011-10-08T13:59:00.000+08:00

Ruben wrote that Malaysia needs more entrepreneurs but more importantly, those who do it for the right reasons. People venture into business for various reasons, most of which seem right at that point in time. There are also entrepreneur wannabes who don't quite have a good reason nor a clue on how to start a business but they do it nevertheless. Then there are employees who feel they are better than their bosses and are solely responsible for all the profits. So, why not venture out on their own?

But that's not to say going into business on your own is a walk in the park. Entrepreneur Rahimah says there's significant pressure to meet and manage employee expectations, particularly during an economic downturn. The only upside, she says, is the cost of living and salaries. That's also when entrepreneurs may wish they were employees all over again.

I greatly admire failed entrepreneurs who bounce back and return as employees. The need to put food on the table for the family far outweighs an individual's ego.

I would like to dedicate one of my future columns to failed entrepreneurs. If you have a story to share with me on your actual experiences or viewpoints, please do. It would serve as a valuable lesson for entrepreneur wannabes. Who knows, we could prevent heartbreak by sharing our miseries.

If you choose to be an entrepreneur, your reasons to take the plunge may differ based on several factor; age and life experiences can be defining factors. Just like marriage, you need to be persistent in your courtship. Pre-marital involvement is when you are young and carefree without family commitments. If you're lucky, your marriage into business may already be pre-arranged by your parents. Divorce sets in when you decide to leave your employment and start afresh on your own. In the twilight years, you look for ways to keep busy when your kids leave the coop.

Tan Sri Vincent Tan persistently wrote to McDonalds for many years before he transformed himself from an insurance agent into the “burger king of Malaysia.” The millions he made initially were reinvested many times over, and in my book, he is Malaysia's Top Serial Entrepreneur. Nobody, in my memory, has bought, sold, re-bought and re-sold more companies than Tan.

“Pre-marital” entrepreneurs are typically young graduates who fall in love with the idea of being in business. At that raw age, all opportunities appear good. That was how it was for me. My humble background had nurtured the drive in me to have my own business and make zillions. I jumped at the first opportunity at the age of 24-plus to start my first trading company and I spent the next five years all at sea due to inexperience and immaturity.

Fortunately, some deals worked out and I made my first million at 33. I started out selling razor blades and 26 years later, am selling lipsticks for a living. Not much progress in terms of building this massive business conglomerate that I had earlier envisioned. But my little brand has made many cheer-leading schoolgirls happy and many women beautiful at affordable prices. Silkygirl might not be as big as Windows and Facebook, but it is comforting to know that Bill Gates and Mark Zuckerberg, like me, were pre-marital entrepreneurs. The main difference is that they are Harvard dropouts, while I graduated from University Malaya and proudly so.

“Pre-arranged” entrepreneurs are usually overseas graduates who return home and are faced with the tough choice of joining the family business. It is easier to decide if your Dad owns Genting, IOI, Berjaya, YTL, Naza, IGB, Westport, etc. There are many pre-arranged entrepreneurs who have grown their family businesses many times over because they are better educated than their old men, and they have bigger and more qualified teams of managers to support them. But are they better entrepreneurs than their dads?

I have many friends who earn six- to seven-figure annual salaries with all the corporate perks, who never once thought of going into their own business. That is, until they come face to face with a new boss ... from “hell.” And more often than not, it always happens when you are past 45. You know, “been there, done that” and suddenly this know-it-all monsieur decides that you are past your sell date.

So, you may end up considering a corporate divorce and at the same time getting into your own business, especially when alternative employment is limited and unattractive. At this point, certain regrets may creep in; you wish you had planned better much earlier or made some part-time investment in properties or businesses with friends.

There is no law to forbid you from being a part-time investor just because you are happy being a full-time employee. But you need to be disciplined and invest from a very young age instead of spending extravagantly on holidays and the cool must-haves and must-dos. And you need to have a survival plan just in case.

Twilight entrepreneurs are normally retirees who want to keep themselves busy. My advice is to keep your investment low so that you do not suffer too much upon exit, as the reason to exit may just be around the corner. Just last night, The Star's group chief editor advised that my columns can be compiled into a book (like his) and I went to sleep dreaming of my lucrative post-retirement syndicated columns and best-sellers on amazon.com. Then I woke up. It's again time for a reality check.

● The writer is an entrepreneur who, through this weekly column, hopes to share his experience and insights with readers who want to take that giant leap into business but are not sure if they should. Email him at thtan@alliancecosmetics.com

Annuity RM3,000 Tax Relief

2011-10-08T13:47:00.003+08:00

The Life Insurance Association of Malaysia (LIAM), believes the new tax relief of up to RM3,000 on contribution to a Private Retirement Scheme and insurance annuity for 10 years will augur well for the industry.

Whilst lauding the Prime Minister’s ‘budget for the rakyat’, such an incentive is indeed a good start by the government in recognising the need for suitable retirement planning, said LIAM.

The introduction of the Private Retirement Scheme will ensure that people who retire will be able to live without over-relying on their EPF savings.

As statistics have shown, the life span of average Malaysians
are getting longer, thus astute retirement planning at an early age would be a step in the right direction.

Whilst LIAM lauds this move to ensure private sector employees and the self-employed have sufficient savings upon retirement, the tax relief of RM6,000 on life insurance premiums paid by individuals is still combined with the statutory EPF contribution.

It is hoped that the separate RM6,000 tax relief for insurance premium will be realised in the near future,” said LIAM in its statement issued today.

"The tax relief of RM3,000 accorded to insurance annuity shows that the Government recognises the importance of insurance annuity, as lump sum has been proven to be an ineffective way for retirement planning, exhausting too early while not addressing longevity risk.

Whilst the tax exemption on investment income of Private Retirement Fund is given, so as not to erode the accumulation of the fund, it’s unfortunate that the same is not accorded to insurance annuity.

The current 8% tax on investment income of annuity fund would result in lower annuity amount and LIAM hopes that the government would consider the removal of such taxation.”

The industry also welcomes the announcement of the increase in the retirement age from 58years to 60 years for the public sector. It is hoped that the private sector would follow suit as employees would be able to accumulate more savings for their golden years.

Empowering Oneself

2011-10-07T20:28:00.002+08:00

In a world that has been overwhelmed by mismanagement, greed and unnecessary waste, it’s now more important than ever that we help re-build our world in a positive way. By implementing practices that are designed to empower our lives, we not only change ourselves, we change the world!

Integrity
One of the qualities that true ‘world-shapers’ value highly is integrity. Walking our talk means that our words and actions align and we deliver. Often this means clearing our slate from past negative experiences which frees our mind and emotions to move forward positively.

You will then be open to attaining a deeper, richer and more fulfilling experience of life. Now, more than at any other time in history, you have the opportunity to thoroughly assess your life and to become greater than you ever imagined.

Awareness
Self-awareness is setting your intentions with clarity. No matter what it is you do in life, you’re either living ‘awake’ or ‘asleep’ to your daily thoughts, words and actions. By choosing to set your intentions clearly each day, you actually set a standard or expectation that affects you every moment of the day. This is the essence of living with purpose.

Intention leads to action - either positive or negative – so choose your intention with care. Break your intentions into segments with affirmative statements such as: “Today I intend to feel magnificent.” “Today I intend to radiate love.” “Today I intend to express gratitude.”

Leadership
By living with integrity and clear intention you’re all set to become a leader. Your new-found sense of leadership automatically opens up new doors and paths to greatness. You will begin to speak differently and see with wider vision. People you know will begin to relate to you in a more enhanced way because you are living on a higher or more advanced level. You now move in life with confidence, knowing that you trust yourself and have the ability to lead others as others sense they can trust you.

Vision
Visionaries articulate their dream (or purpose) in a way that others comprehend with ease. Accompanied with passion and determination, a vision ignites us from within and radiates outwardly - inspiring people to participate – bringing the vision to fruition.

Vision is intended to have a positive impact. At times, visions contain ‘radical messages’ that are not always popular but, as we have observed throughout history, visionaries hold true to their beliefs, are inspired by faith and bring their dream to fruition by the courage of their convictions.

Discernment
Every choice and decision you make rests upon your ability to discern and take appropriate action. By assessing your life – even if it’s only over a one week period - you can actually see what decisions you have made and on what thoughts and feelings they were based. You can then progress to larger time frames to ensure the decisions you are making are based on discernment – not illusion.

Some people mistake discernment for judgment – but they are worlds apart. Discernment is based on observing what we say and what we do ourselves. Judgment is usually based on what others say and do – see the difference? We can assess or judge the actions of others and then discern whether those actions are appropriate and acceptable for us to replicate.

Now that you have finished reading my article, I want you to ask yourself this question – “How serious am I about becoming great and making a positive impact?”

Purchasing Life Insurance Online

2011-10-06T18:23:00.001+08:00

No pesky calls, no badgering agents, not even a mail from the friendly wealth manager at the bank. Yet, Net-savvy Indians in urban centres are lapping up online term plans. Every 18 minutes, an online term plan is bought in the country.

Everyday, Rs 50 crore worth of insurance cover is sold through this channel. In the past six months, the seven life insurance companies that offer such term plans have issued more than 14,500 policies with a combined insurance cover of about Rs 9,100 crore. This is almost equal to the total cover offered by all new policies sold by the five newest insurance companies ( Star Union Daiichi, Shriram Life, IndiaFirst, DLF Pramerica and Sahara Life) in 2010-11.

The large cover offered by online plans is good news for an underinsured country like India. In a recent survey of middle-class people in metros by ING Life India, 85% of the respondents said they felt a greater need to protect their lifestyle. Yet, the average life insurance policy issued in 2010-11 gave a cover of just Rs 1.93 lakh.

Thank You Steve Jobs

2011-10-06T16:48:00.002+08:00

Apple's Steve Jobs has died from cancer at the age of 56, a premature end for a visionary who revolutionized modern culture and changed forever the world's relationship to technology through inventions such as the iPad and iPhone.

Leadership Qualities

2011-10-05T19:50:00.002+08:00

Be Trustworthy
Trust is the basis for almost all the relationships in your life. Without trust, it's impossible to create healthy and productive environments, either with work or personal situations.

Be aware that others are watching you ... assessing your values system and integrity. People want to be assured that their trust, followed closely by their respect is being placed in a safe place -- your hands -- and that they are indeed wise to follow where you lead.

When people trust you, they are more willing to give their best, as they know that they always get your best. This leadership quality is sometime referred as integrity or honor, but all these terms have the same basic meaning: you say what you do and do what you say- period.

Inspire People to Work Toward The Vision
You can't push people to believe in or want to work toward the organizational vision and goals, but rather, one of the qualities of good leadership is that you guide, lead, and inspire people to want to participate in the process of moving toward the vision.

Be Self Aware and Insightful About Your Impact On Others
One of the most important qualities of good leadership is that the individual is aware of him or herself ... their abilities and the impact that they have on others.

If this doesn't come naturally to you, work on actively putting yourself in others' shoes. Recognize how you affect things and anticipate how others will react to your decisions and personality. While creating this analytical dialogue can seem foreign at first, you will find that it comes quite naturally with time and practice.

Accept Responsibility for Your Actions
Those who have qualities of good leadership never pass the buck. In fact, the best leaders will not only take responsibility for their own mistakes, but also shield their team from negative consequences, going to bat for them.

As a leader, always remember that the buck stops with you. We seem to be raising a society of people who prefer to blame others for their feelings, circumstances and lack of success.

True leaders are masters at accepting responsibility for all that comes their way and taking ownership and responsibility for getting things back on track. Blaming, justifying and excuse making just isn't in their responsibility.

Have High Self Worth and Self Esteem
You might not think that how you feel about yourself has a whole lot to do with how others perceive you or how effective you can be at taking charge of a group situation. However, it would be a huge mistake to make this assumption. Every individual is either their own best friend or their own worst enemy.

How you feel about yourself often leads to subconscious patterns. Those with a negative self worth may have many other leadership qualities, but sabotage their own efforts with a deep belief that they aren't good enough to carry the day.

Dealing with self esteem can seem like a touchy-feely waste of time, but that is absolutely not the case. It is crucial to your success and leadership ability.

Lead versus Manage
There is quite a fine line between these two styles. While a leader may certainly manage, managers rarely lead.

Leadership

2011-10-05T19:38:00.004+08:00

It is widely accepted that effective leadership is essential for the long-term success of any business. Indeed, high-quality leadership is imperative for transforming a group of individuals into a team and shaping them into a force that operates as a competitive business.

Recent research carried out by the Chartered Institute for Personnel and Development (CIPD) and by talent management consultancy DDI entitled UK Highlights: Global Leadership Forecast has revealed that today’s leaders are not equipped to handle the challenges that organisations face in the new economic scenario.

The study carried out on 367 business leaders and 56 HR professionals in the UK revealed that only 36 per cent of business leaders and 18 per cent of HR professionals rate their organisation’s quality of leadership as “high”.

Furthermore, the research revealed that only 38 per cent of both UK leaders and HR professionals rate their organisations’ leadership programmes as being highly effective. Indeed, 20 per cent of leaders and 24 per cent of HR professionals rate these programmes as “highly ineffective”.

It could well be argued that these two studies paint a worrying picture for businesses today, as the quality of leadership is vital for the success and sustainability of an organisation.

The UK research demonstrated that businesses that have the highest quality leaders stand a better chance of outperforming their competitors in key basic areas such as financial performance, quality of products and services, employee engagement and customer satisfaction.

In addition, the research revealed that organisations with leaders of the highest quality are the ones that are able to retain the highest number of employees and have the most engaged and passionate leaders.

Finally, the UK study uncovered three key drivers that would help improve the quality of leadership within the organisation. These are leadership development, talent management and management culture. The report states that for organisations to be able to achieve the high-quality leadership needed to drive business success in the coming years, organisations need effective leadership development systems along with effective talent systems, surrounding leadership development – which includes selection, performance management and succession management.

The studies have identified the key skills leaders need and the kind of development and talent management processes that are most effective. The HR function’s role in all this lies in being able to truly understand who its customers are to ensure that it plays a crucial role in the success of its leaders and, more importantly, the success of its business. As Warren Bennis, a leadership expert, said: “A business short on capital can borrow money, and one with a poor location can move, but a business short on leadership has little chance of survival.”

Organ Donor

2011-10-05T17:34:00.003+08:00

The man who underwent a blood-group incompatible transplant more than two months ago and received his wife’s kidney is now worried that she may be unable to get insurance coverage after the donation. TAN CHOE CHOE takes a look at the benefits and protection accorded to life donors in Malaysia

LEE Leong Kim and his wife, Hernawati Subli, were featured holding hands and smiling happily two months ago on the front page of this newspaper when they shared their story on being the first ABO-incompatible transplant patients in the country when Hernawati successfully donated her kidney to Lee.

Their story chalked up a medical milestone for the country as their doctors achieved what had been thought of as medically impossible. In a telephone conversation on Thursday, Lee, 57, said he was undergoing normal post-op care while his wife, fondly known as Herna, 34, is now active and back at work at the couple's tour and travel business.

But before the operation, Lee, who had been diagnosed with chronic renal failure in 2009, was keen to ensure that Herna's welfare was taken care of in case anything happened to him.

He also wanted to ensure that if she fell sick, she would get the best medical care possible and would not be left dependent on the state in the face of rising medical costs. This was also especially important as they have two young boys aged 7 and 8.

Hence, Lee went about to ensure that Hernawati had sufficient insurance coverage, but he was shocked to discover that his wife might not be eligible for any insurance coverage any more.

An insurance company, which had taken an annual premium payment of RM3,500 from the couple when they signed up in June, was unable to confirm if their policy had been approved after Lee told them that Herna had undergone a donor transplant operation.

"We paid them RM3,500 upfront about 31/2 months ago. After the operation, we updated them of the procedure, thinking that we might have to pay extra because she now only has one kidney. But until now, there's no news if we would be approved at all."

Another insurance company told them firmly that they do not provide coverage to former organ donors. "Because the ABO-incompatible transplant procedure is not available in public hospitals, we can only do it in private hospitals.

"So, my wife has to fork out her own money to pay for the admission and procedure to donate her organ to me.

"She is facing a future where she can't get a new insurance coverage. I think this is very unfair to someone who has generously given one of her precious organs to save another person's life."

However, Life Insurance Association of Malaysia (LIAM), in an email interview, said life organ donors, specifically kidney and liver donors, should have no problems getting any insurance coverage in Malaysia.

"If one has fully recovered after the surgery with no residual loss of organ functions, then they are eligible to apply for all insurance plans, including critical illness and hospitalisation benefit schemes."

LIAM is a self-regulating trade association with 17 members, of which 15 are life insurance companies and two life re-insurance companies. It is a statutory requirement under the Insurance Act 1996 for all life insurance or life re-insurance companies to be members of LIAM.

"However, there is a waiting period of between six months to a year from the date of the organ donation procedure to ensure that the donor has fully recovered before they are eligible for insurance coverage again.

"Donors and non-donors can receive the same type of coverage. However, if the applicant discloses a history of organ donation, further underwriting may be requested to ensure that the donor has fully recovered with no residual impairment or complications."

Asked if there was any insurance firm that preferred not to grant coverage to organ donors, LIAM replied "every insurer has their policy issuance and risk thresholds".

It is important to note that if one decides to become an organ donor and have the procedure in a private hospital, his or her medical insurance plan will not cover admission and surgical costs involved. All these costs also cannot be claimed against the recipient's insurance policy.

LIAM said: "The choice to donate an organ is optional, the decision lies in the hands of the donor. Insurance, traditionally, is priced to cover for unexpected incidents beyond the control of the insured person."

On the upside, life insurance coverage has no exclusions, meaning if a person who owns a life insurance policy dies due to surgical complications, including complications arising from organ transplant procedures, he or she will still be entitled to its death benefits. This is regardless whether the policy holder is a donor or a recipient.

Thankfully, Herna already had two life insurance policies before she and Lee found out that the ABO-incompatible transplant surgery was possible.

Although one of the insurance providers told Herna she would not be covered for any kidney-related illnesses for a year after the operation, she would still be covered if she were to fall sick for any of the other major critical illnesses as stipulated in the policy.

Hopefully, with LIAM's clarification, Herna will not face problems applying for the insurance coverage that she deserves in the future.

LEE and Herna might only have complained about insurance coverage so far, but their case has brought to attention the myriad of issues involving the welfare of life donors. Apparently, some donors have been "penalised" after donating his or her organ to save another's life.

Datuk Dr Ghazali Ahmad, consultant to the Health Ministry's Transplantation Unit and chairman of the National Transplant Policy, knows of a donor who was sacked from his job after he had donated a kidney to his brother.

"He was sacked without compensation. "The employer thought he had taken too much sick leave and felt he was not fit to work anymore.

"He worked in a tyre factory and should be healthy enough to resume work after the procedure," said Dr Ghazali, who is also a member of the National Transplant Council.

Having seen such cases, it was no surprise that Dr Ghazali firmly answered "No" when asked if the welfare of life donors in Malaysia was being properly looked after. He said there was no guarantee one would not be unfairly treated after an organ transplant procedure.

"Because the perception is that once you are a donor, you are sub-normal, handicapped or weak. "But in published scientific studies that looked at life kidney donors, comparing them with their non-donor siblings, the donors actually live longer and are healthier."

But, he said, it did not mean when you donate, you became stronger and healthier, "but you definitely do not become weaker". "When you have been selected as a donor, you are already the fittest of the lot(among your siblings). "So long as you survive the surgery -- where the risk is very low -- you remain the fittest."

A lot of activities, he added, were focused on increasing public awareness on the need for more organs and to encourage people to donate, all geared towards increasing organ donation and transplantation rates, but very little, if at all, looked after the interest of donors.

Who Is Kim Woo Su

2011-10-03T10:49:00.001+08:00

The death of a food delivery man who regularly donated a portion of his small salary to help the needy is touching the heart of South Korea. People he barely knew have attended his funeral, expressing condolence. They praised him for carrying out the spirit of sharing despite living on a shoestring budget.

Kim Woo Su, 54, died last Sunday, two days after his motorcycle collided with a car while on a delivery run. Though Kim scratched a living as a delivery man of a small Chinese restaurant, he had given part of his salary to children in need through Child Fund Korea since 2006. He had earned 700,000 won (RM1,914) a month from the restaurant in the southern Seoul town of Ilwon.

On top of his years of donations, he left 40 million won (RM108,460) in life insurance money to the charity. He had insured himself against traffic accidents because his job put him at risk of them.

Orphaned at 7, Kim once served time for arson. Six months before release, he began to make donations for children who lived a hard life like he did. His decision to give came in jail after he read about children suffering from domestic violence.

Group Insurance Is Temporary

2011-09-30T23:50:00.003+08:00

Group insurance is typically taken up by employer to provide insurance coverage as a fringe benefit for their employees. Almost all group insurance are yearly renewable policy. The insurance scheme normally covers the employee's life, disability, accident, medical and some retirement scheme. Spouse and family may be included in group medical scheme.Employer prefer group insurance as this is the most economical type of insurance.

Employee insured under the Employer group insurance policy must not forget that group insurance is a temporary insurance coverage.

Many employees are under the illusion that group insurance is permanent. They refused to purchase individual permanent insurance under the assumption that they are insured permanently. For example - a healthy man joins the workforce at age 25. He is covered under group insurance. He did not purchase any individual permanent life or medical insurance on his own.

At a later stage of his life - his group insurance cease due to the employer not renewing the group insurance policy or the employeee left the employer. When the employee apply for a permanent individual insurance policy - his health may have change. This may prevent him from obtaining the insurance policy or counter-offer from insurer. The counter offer can be a loading in premium and/or exclusion on the illness and/or limitation of the extend of the coverage.

In another scenario where employee looses out is when employer switch group insurer. Because an employee health may have changed, the new insurer may decline his application of insurance or a counter-offer.

Or when employee are asked to leave employment due to cronic / terminal illnesses. This employee will never be insurable again.

Most retirees are unable to obtain individual insurance coverage after retirement from employment because of their health status have changed. Most Malaysian would have been daignosed for diabetes, high blood pressure, gouts, high cholesterol at age 55 and above. For those retirees who are luckier to obtain individual insurance - it comes with a high premium, exclusions and limitations.

Young employee are strongly advice not to reply on group insurance exclusively. Group insurance provides TEMPORARY protection only. When you are older and need insurance - you will discover that you are no longer insurable.

"Good things are not cheap and cheap things are not good.

Bijak @ NIAM

2011-09-27T21:06:00.002+08:00

The National Insurance Association of Malaysia’s (NIAM) strategy to shift its focus and push on higher plans have begun to yield results, said chairman C. Kumaran.

Efforts to penetrate the mass affluent market had been successful and the trend indicated that life insurance and medical protection products were still the smart choice for a wide segment of Malaysians, he told Bernama.

“We launched Bijak Malaysia, a wholelife insurance plan, in 2007 and today it remains the premier product marketed by local banks,” Kumaran said. “In the first six months of the year, a gross premium of RM45mil was registered and the target is to cross RM50mil (this year) and to surpass RM60mil next year,” he said.

Kumaran was upbeat about the outlook for Bijak Malaysia, given the increasing awareness for a comprehensive protection and saving plans as well as consistent sales performance.

He said the local life insurance industry was still lucrative as only around 41% of the Malaysian population were currently insured. According to NIAM, Bijak Malaysia is the leading bancassurance product among local banks. It was designed and developed by NIAM members for the local market.

“NIAM expects to see an average growth of up to 30% for Bijak Malaysia annually,” said Kumaran earlier at the launch of the third Bijak Malaysia Convention here.
The product recorded RM27.5mil in sales during its promotional campaign from November 2010 until June 2011.

Bijak Malaysia standing committee chairman and NIAM exco member Raymond Lew said since the launch of the product four years ago, it had attracted about 98,000 policyholders with sales of RM169mil.

“Looking at the consistency of the sales performance, we are confident that Bijak Malaysia will easily break the benchmark of 100,000 policyholders by year-end,” he said. Raymond also said that the association would launch at least two new plans, including Cergas Malaysia and Ceria Malaysia, by next year

Ceria @ NIAM

2011-09-27T21:05:00.001+08:00

The National Insurance Association of Malaysia (NIAM) expects to sell an average of RM500 million worth of policies under its proposed critical illness plan, Ceria Malaysia, in the first quarter of next year.

NIAM Chairman C. Kumaran said the introduction of Ceria Malaysia, which would be submitted for approval end of the month, would be timely considering rising medical costs and the increase in demand for medical related insurance products which are also expected to continue to lead the industry's growth.

Ceria Malaysia would ride on the momentum of NIAM's premier life insurance plan, Bijak Malaysia, as it would complement the whole proposition, Kumaran told Bernama.

NIAM would submit Ceria Malaysia for approval to Bank Negara Malaysia by end of the month, he said, adding that it was expected to hit the market by the first quarter next year.

Kumaran said it was also important to introduce more creative plans that reflect the current needs of society. He said the cost of Ceria Malaysia plan, an extension of Bijak Malaysia, will also be more affordable.

It will be 20 to 30 per cent cheaper than any critical illness plan in the market with similar features and with yearly renewable term, he said.

Citing an example of premium payment, he said: "For RM100,000 sum assured, a 40-year old man would have to pay RM686 per year."

Bank Negara recently approved another NIAM initiated product, Cergas Malaysia, a guaranteed renewal hospital and surgical policy.

Kumaran said the association was confident that the product would be well received by the public.

He also cautioned NIAM members not to lose sight of the responsibility to ensure customers were treated fairly in all aspects of the insurance pendulum in their eagerness to introduce more creative, attractive and beneficial products to the consumers.

"There must be a good balance between commercial interest and the public interest.

"The Treat Customer Fairly guidelines that BNM has introduced must be taken seriously by all industry players and adhered to in full capacity," he added.

Established in 1973, NIAM currently has 28 member companies comprising 11 general insurance companies, four composite insurance companies, three life insurance companies, five takaful operators and five reinsurers.

OSKIB & Manulife

2011-09-27T21:00:00.001+08:00

OSK Investment Bank Berhad (“OSKIB”) today signed a strategic bancassurance partnership with Manulife Insurance Berhad (“Manulife Malaysia”) to enhance its existing range of wealth management products and services. Manulife Malaysia is a wholly-owned subsidiary of Manulife Holdings Berhad (“Manulife Holdings”), offering forward-thinking financial solutions and services to its customers.

Signing the distribution agreement were Mr. U Chen Hock, Chief Executive Officer of OSKIB, and Mr. Michael Chan, Chief Executive Officer of Manulife Insurance Berhad.

Under the Bancassurance arrangement, OSKIB will distribute Manulife Malaysia’s life insurance products through its private bankers and wealth managers. The first products to be launched are two limited payment endowment plans under the OSK Wealth Saver series that are specially designed to help different OSKIB customer segments meet their financial goals.

The sharing of expertise between OSKIB and Manulife Malaysia will see both organisations work together to develop more products tailored for OSKIB customers to better serve their savings, protection and investment needs.

Who Is Robin Lim

2011-09-27T20:53:00.001+08:00

Indonesian midwife Robin Lim, from Bali, has been included in US news network CNN's top 10 heroes in 2011 for her dedication in offering free prenatal and birthing services to low-income Indonesian women.

Lim established the Bumi Sehat Foundation, or Healthy Mother Earth Clinic, in 2003 and has since then provided medical assistance to thousands of women in Bali and Aceh.

Robin, along with the other nine honorees, will each receive a US$ 50,000 (S$65,370) grant and will have their story told by a celebrity. One lucky honoree will receive an additional $250,000 to further aid their cause and be named CNN hero of the year.

The network announced that online votes can be cast by visiting www.cnnheroes.com and would be open until Dec. 7 2011.

CNN stated in its press release that the annual grants were given to honor and empower individuals who are making extraordinary contributions to help improve the lives of others.

"We hope to empower these selfless individuals to persevere in their humanitarian efforts to create progress, and are proud to share the stories of this year's Top 10 Heroes," said Jim Walton, President of CNN Worldwide.

Retirement Top Priority

2011-09-24T16:27:00.003+08:00

Retirement gets top priority in the financial planning of middle-income earners in Malaysia, followed by family income protection and children's education needs, a survey by ING Insurance Bhd revealed.

In a statement Wednesday, ING Insurance said the survey found some 83% of Malaysians believe there is a greater need now to protect their lifestyles compared with 12 months ago.

The survey found 84% of respondents did not own a Takaful product although the majority or 62% agreed that the Islamic insurance cover is not meant for Muslims only.

Insurance penetration among the Malays is less than 10%. There is a huge market with the emerging Malay middle-class and also non-Muslims gradually opting for family Takaful products. For family Takaful, the top products are hospital and surgical, term life, critical illness and personal accident plans.

Congratulations Ambiga

2011-09-24T15:19:00.002+08:00

Sept 23 — Resplendent in a black-and-gold sari, Datuk Ambiga Sreenevasan was tonight conferred France’s highest honour, the Chevalier de Legion d’Honneur (Knight of the Legion of Honour).

As he pinned the distinctive five-pointed medal on her sari, France’s ambassador to Malaysia, Marc Barety, said the award was to recognise Ambiga’s dedication to human rights and to boost the rule of law in Malaysia.

Ambiga joins an exclusive club of some 20 to 25 Malaysians conferred the French award. Among them were the Yang Di-Pertuan Agong Tuanku Mizan Zainal Abidin, airline maverick Tan Sri Tony Fernandes and Ipoh-born Hollywood actress Datuk Michelle Yeoh, Barety said.

In Pursuit Of Happiness

2011-09-22T14:58:00.002+08:00

Life insurance is something we all need, but few of us want to spend any time thinking about our own demise. It’s really not about us, but the people who depend on each of us for their survival. Life insurance is so important that the Life and Health Insurance Foundation for Education has designated September as Life Insurance Awareness Month. The foundation is encouraging people to examine their life insurance policies to determine if they are adequately protected.

Life insurance is a practical way to protect your family’s financial hopes and dreams. The death of a family member can be devastating to survivors both emotionally and financially. Life insurance can provide cash to help with your family’s immediate and long-term needs. Immediate needs include funeral expenses, unpaid medical bills and taxes. Long-term needs include care for a disabled child or elderly parent expenses and, in general, the chance for members of your family to continue to live the life to which they are accustomed.

When you buy life insurance, you buy a promise of protection against financial loss caused by death. The promise is only as good as the company that stands behind it. In today’s marketplace, life insurance buyers should be concerned about both the financial strength of the insurer as well as the level of customer service the company provides.

Life insurance can be the foundation of a sound financial plan, especially given the continuing need after the death of a breadwinner. Think of it as a safety net should a wage earner die unexpectedly. In addition to that, permanent life insurance may accumulate a cash value that can be accessed while you are still living. While any loans from a policy will accrue interest and diminish the cash value and any death benefit, the proceeds could be used for any number of reasons.

Life insurance can be one of the most important purchases you make. Take some time during Life Insurance Awareness Month to examine your life insurance needs.

Give Generously

2011-09-20T12:11:00.001+08:00

A rich man who once asked his priest, "Why does everybody call me stingy when everyone knows that when I die I will leave everything I have to this temple?"

The priest said:

"There once was a pig and a cow. The pig was unpopular and the cow was loved by all in the village. This puzzled the pig.

The pig said to the cow:

'People speak warmly of your good nature and your helpful attitude. They think you are very generous because each day you give them
milk, butter and cheese. But how about me? I give them everything I have. I give them the famous sausages, bacon and ham i.e. my entire body.
Yet no one likes me. Why is that?'

The priest continued: "Do you know what the cow answered?

The cow said, 'Perhaps it is because I give while I am still living.'

LOVE PASSIONATELY
GIVE GENEROUSLY

Regrets - Top 5

2011-09-11T22:32:00.001+08:00

These are the top five regrets former nurse Bronnie Ware has heard from patients on their deathbeds:

1. I wish I'd had the courage to live a life true to myself, not the life others expected of me.

2. I wish I didn't work so hard.

3. I wish I'd had the courage to express my feelings.

4. I wish I had stayed in touch with my friends.

5. I wish I had let myself be happier.

Easy Lesson in Lying

2011-09-03T20:33:00.002+08:00

It’s my opinion that lying is rampant in the workplace.

5 Reasons people lie to the boss

#1. The boss can enhance or hinder your career track

#2. The boss can control your salary

#3. The boss argues with you when you tell them the truth

#4. The boss violates confidence

#5. The boss shoots the messenger and the problem you point out becomes your problem

5 ways to spot liars at work
#1. They blame others rather than take responsibility

#2. They never correct you

#3. Guilt may cause people to talk more

#4. Insecure people are more likely to lie

#5. Highly competitive people who need to win may tell more lies

If you are the boss, people lie to you unless …

#1. You honor those who disagree with you

#2. You give opportunities to those who think otherwise

#3. You stop hanging with brown nosers

#4. You keep asking questions that get to the bottom issues

#5. You point out inconsistencies that seem like lies

People tell the boss what the boss wants to hear. If you don’t aggressively address this tendency, many will lie to you. It isn’t necessarily malicious. It’s more likely self-serving.

Business Leaders Typical Lies

2011-09-03T19:51:00.003+08:00

Paul LaFontaine left Bertelsmann Music Group in March 1997 to advise other businesspeople about radical honesty. He has lots of work to do. "There are as many lies in business as there are people in business," he says. Here are his nominees for the five most common lies:

Lie: "People are our most important asset."
Truth: "People are our most worrisome and unpredictable asset. Our most important assets are really our financial assets."

B.S. Detector: This may be the leading lie of our times. "When management starts talking about how important people are," LaFontaine says, "you can bet there is going to be an unpopular human resources decision coming soon."

Lie: "This was a rational decision."
Truth: "I wanted to do this."

B.S. Detector: People "want what they want just because they want it," says LaFontaine.

Lie: "We judge people by their performance."
Truth: "I judge your performance based on how much I like you."

B.S. Detector: "Why do most people who keep their jobs keep them?" LaFontaine asks. "Because the people they work for like them. And you get fired when the people you work for don't like you anymore.

Lie: "This is business, it isn't personal."
Truth: "Everything's personal."

B.S. Detector: "As people, we get mad at each other," says LaFontaine. "Attempts to avoid it are cowardly. So get mad. Then get over it and move on." LaFontaine believes that any disagreement can be handled with an honest conversation.

Lie: "The customer comes first."
Truth: "I come first."

B.S. Detector: "More often than not, 'the customer' is an abstraction," LaFontaine warns. "People take care of customers when it benefits them and ignore customers when they can get away with it. Nobody says 'I come first,' which is what's usually going on."

Smiling Tiger

2011-09-01T18:16:00.002+08:00

The word “motivation” is one that is often confused with “manipulation.” Motivation occurs when you persuade someone to take an action in their own best interests.
Things like people preparing their homework, accepting responsibility for their performance and finishing their education, are the result of motivation.

Manipulation is persuading someone to take an action which is primarily for your benefit. Things like selling an inferior product at an inflated price or working people overtime with no extra pay are examples of manipulation. Manipulation self-destructs the individual doing the manipulating. Word gets out on manipulators and people grow less and less likely to respond in a positive manner to their manipulation. Productivity declines.

Leadership occurs when you persuade a person to take an action which is in your mutual best interests. Eisenhower said that leadership was the ability to persuade someone to do what you wanted them to do because they wanted to do it. When that happens, performance improves, productivity increases, and both parties win.

Comparing motivation to manipulation is like comparing kindness to deceit. The difference is the intent of the person. Motivation will cause people to act out of free choice and desire, while manipulation often results in forced compliance. One is ethical and long-lasting; the other is unethical and temporary.

Carlisle said, “A great man shows his greatness by the way he treats the little man.” The value you place on people determines whether you are a motivator or a manipulator of people.

Motivation is moving together for mutual advantage.

Manipulation is persuading or even subtly coercing someone to do something so that you win and they lose.

With the motivator everybody wins; with the manipulator, only the manipulator wins. And to that I might add that the victory is temporary and the price is prohibitive. Leaders and motivators are winners, manipulators are losers who produce resentment and discord.

Climbing Corporate Ladder

2011-09-01T17:46:00.003+08:00

Graduates usually have high expectations about becoming the next millionaires in the finance industry. But I can assure you that fairy tales never come easily in this highly competitive market.

Once you step into the workforce, you should quickly forget your academic and sporting achievements, and even your so-called self esteem. In order to succeed, you must realise that banking is essentially a people-oriented business.

In short, this means you must identify the people who have the greatest power and authority to propel your career. It’s vital to know exactly what your direct boss wants, and not focus on your personal achievements.

So, forgot financial modelling and risk analysis, here are three rules I think every junior banker should follow.

Know your boss
It should be your number one goal to understand your line manager’s working style and personality because this will help to avoid future conflicts. As a senior HR person at my own firm told me recently: “In many cases, subordinates can’t fulfil their supervisors’ expectations as they don’t know what their bosses want.”

Respect the hierarchy
Generation Y employees often incorrectly consider their managers to be their buddies, especially if they are a similar age or went to the same university. But this means trampling over the firm’s hierarchy and it will ultimately backfire.

Never express your emotions in the office
In the face of criticism, youngsters often fail to control their emotions, especially if they haven’t been scolded in public before. Do not fight back against your boss under any circumstances. It is better to acknowledge and correct any problems.

Never talk bad about your boss or company
Never talk bad about your boss or company in formal or informal gathering. Negative news travel faster than lighting. Your boss will be preparing your exit faster than yu can say "Hi". You will not know what strike you.

Life Insurance Agent

2011-08-29T18:30:00.003+08:00

Every year there are many new comers joining insurance sales business, at the same time, there is a mass exodus of insurance agents leaving for other fields giving reasons such as lack of training, inadequate support, dysfunctional supervisors etc.

More often than not, the actual reason why insurance agents quit the business is because they did not make the money they want from insurance selling. Very few people will leave a business if the business brings them the kind of income that can support their desired lifestyle.

There are always people considering a career switch to insurance business. They are curious to know how to go about to become insurance agents. Perhaps before they look for the answers to "how", they may like to seek "why". If your reason to do something is not compelling enough, it is always very easy for you to give up your endeavor.

The number of insurance agents quitting the business could have been much reduced if they joined the industry with the right reasons. The right reasons must also be strong and resilient enough to stand all trials and tribulations.

The following are the 5 wrong reasons for joining insurance business:

Try it out
A successful insurance business is the result of well thought planning and diligent execution. Equally important is the presence of purpose in life and goals in the business. A try-it-out attitude bears little commitment and anybody with this outlook most probably will not go far in any business venture.

Life insurance business in particular requires long-term commitment because one of the reasons why your customers buy the life policies from you is because of their belief that you would stay long enough in the business to service them.

Just look for a job
If you are looking for a job that gives you an income just good enough to settle your household bills and meet all your basic needs, then insurance selling can be a very tough job for you. You may find that it is not worthwhile your efforts to earn that kind of money.

There are times you may find yourself working twice as hard but making the same amount of income like what you made in your previous job. We always pay a huge price for having a self-limiting belief.

Get bored with existing job
Insurance is not a place for you to escape from your job problems. Many who are frustrated with their existing jobs may not be very happy with insurance selling too.

If you are in insurance selling, you are always in emotional roller coaster. You can get upset, frustrated, disappointed but there are also moments of joy and excitements to balance out. The question is whether you are ready for such roller coaster ride.

Looking for more free time
Insurance business allows you to be your own boss, at the same time this can also work against you because you can decide not to work.

Having more free time to yourself should not be the immediate objective you have in mind when becoming an insurance agent. You can only be rewarded with more leisure time after years of hard work and after you have built up substantial amount of passive income such as renewal income.

Learn more about insurance
When you venture into insurance business, there are plenty of learning opportunities but learning is only a means to bring you to where you want to go. If you want to know more about insurance business and the reason for you to be an insurance agent is to learn, then you will not go far.

Once you believe you learn enough, you would have already achieved what you want and there is no more reason for you to stay in this business. Insurance business is meant for people with big dreams and huge ambitions. They see opportunities in insurance business and believe insurance will take them to their dreams and goals in life.

They arm their belief with entrepreneur spirit and they want to own a business that they can proudly claim is theirs where they can put their signature on it. They are emotionally attached to their success and are willing to sacrifice for success.

If you are thinking of becoming an insurance agent, one of the questions you would like to ask yourself is why you want to join insurance business. The answers to this question would provide an insight if you are ready for this business.

iQuit - A Great Loss

2011-08-25T13:08:00.004+08:00

Apple's legendary co-founder and top ideas man Steve Jobs has resigned as chief executive in a move long expected after he began a dramatic fight with cancer.

Jobs is a living legend in Silicon Valley. He is the beloved visionary behind the Macintosh computer, the iPod, the iPhone and the iPad as well as the iTunes online shop.

Born on February 24, 1955 in San Francisco to a single mother and adopted by a couple in nearby Mountain View at barely a week old, he grew up among the orchards that would one day become the technology hub known as Silicon Valley.

Jobs was 21 and Steve Wozniak 26 when they founded Apple Computer in the garage of Jobs's family home in 1976. Under Jobs, the company introduced its first Apple computers and then the Macintosh, which became wildly popular in the 1980s.

Jobs left Apple in 1985 after an internal power struggle and started NeXT Computer company specializing in sophisticated workstations for businesses. He co-founded Academy-Award-winning Pixar in 1986 from a former Lucasfilm computer graphics unit that he reportedly bought from movie industry titan George Lucas for $10 million.

Apple's luster faded after Jobs left the company, but they reconciled in 1996 with Apple buying NeXT for 429 million dollars and Jobs ascending once again to the Apple throne.

Since then, Apple has gone from strength to strength as Jobs revamped the Macintosh line, revolutionizing modern culture and launching a "post-PC era" in which personal computers give way to smart mobile gadgets.

The YES Man

2011-08-22T17:44:00.002+08:00

As a leader, one of the most critical things you need to do is put the right team of people in place to support your agenda. Selecting these people correctly will be key to your success. One of the most common mistakes that leaders make is to surround themselves with “Yes Men”. Worse yet, as leaders become more powerful, sometimes they use their authority to create Yes Men by ensuring that it doesn’t pay to speak your mind on issues.

A Yes Man is someone that won’t challenge your position and in fact they will always tell you what you want to hear and then scurry about to execute your plan. Generally, Yes Men can be easily found in a crowd because they are the up and coming risers, trying to advance their careers as quickly as they can. Early on they seem to have a lot of success with their strategy of pleasing the leader at all costs.

It may seem like a good idea to surround yourself with Yes Men for two main reasons: 1) they will execute as directed and 2) they will never challenge your authority. However, here are some of the potential drawbacks of surrounding yourself with these types of people. For example, to gain credibility you have to implement successful projects. Just because your Yes Man executes as directed doesn’t mean the project will be successful. Often, front line knowledge is required to make a project successful. If you surround yourself with people that don’t challenge your plan, you may miss out on critical information that would otherwise make your project successful.

Yes Men tend to become resentful over time. It can be a slippery slope that starts when they don’t feel recognized or appreciated for their loyalty. Or they may feel that you abuse your power over them. Because they want to succeed, they are not likely to rebel openly but it is common for this type of individual to go underground and subversively undermine you. They may succeed in their efforts if they are your only source of information. People who are forced to become Yes Men under your watch, are the most dangerous of all because they are taking a step backward and they may feel that their confidence is under attack.

Your vulnerability in this scenario can be mitigated if you make it your business to “know your business” by listening carefully to credible people that dare to speak their mind.

A smart leader will encourage honest dialogue because it fosters mutual respect between them and their employees. It’s important to listen to differing points of view and then make your decision. Obviously, people will come at an issue based on their own background and experiences as well as with their own agenda. But it’s incumbent on you to give due attention to their arguments.

Leadership by consensus is weak leadership and that’s not what we are advocating here. But what we do recommend is that you pay attention to your decision making protocol to ensure that it is sustainable over time. That means you will need to rely on your team over and over again so take care to avoid creating an environment where they can’t highlight risks and potential opportunities in your plan.

A good protocol to use involves breaking the project up into clearly delineated phases. In the first phase allow your team time to contribute freely to your planning/strategizing including encouraging debate, pointing out risks and entertaining alternative solutions. Follow that with phase two, a period for your decision making and then bring the team together for a clearly defined third phase of implementation where you clearly articulate your expectations. Other phases include circling back for continuous improvement. This methodology will leave everyone feeling that their input was considered and will reduce the possibility of creating Yes Men under your regime.

Arrogance

2011-08-22T16:25:00.003+08:00

In a recent incident in a leading Italian restaurant in Bangsar, two tycoons (both Tan Sris), came in with a horde of bodyguards and were miffed to find that there was no private room available to them. They then refused to pay corkage for the wine they brought with them although the restaurant had invested in an extensive collection of wines.

The restaurant, to their credit, refused to budge on this policy and the two big shots rather than exit with their tails between their legs, reluctantly agreed.

At the end of their meal, in spite of being told that it was a non-smoking area, both insisted on lighting up a pair of gigantic cigars (possibly compensation for some sexual inadequacy) in the dining room. Again, to their utter dismay, the restaurant would not allow them to do so and suggested they go to the bar below where they could continue their discussions on their deals and the possible union of their respective children.

The two left vowing never to return to that fine restaurant that only insisted on adhering to long standing policies. Good riddance, I say. Such people are a burden to society and we should be shamed by the inordinate respect given to these titled rogues.

Anyone know the name of this restaurant: We whould give them a big award - for their courage and standing-up to top-dog.

Words Of Wisdom

2011-08-22T14:43:00.002+08:00

There is not that much that separates the business world and politics as far as alliances are concerned. In politics, it is said that there are no permanent friends, only permanent interests. Politicians are fond of referring to their adversaries as “strange bedfellows” but will not hesitate to climb into the same bed if it suits their interests.

In the world of high-finance, bitter rivals can easily sleep on in the same bed, so long as it is good for the bottom line. For some business people, however, friendship is not a word that exists in their vocabulary. Many good friends who go into business together learn the hard way that years of friendship count for nothing once the business issues get into the way.

RBC Takaful

2011-08-21T18:18:00.001+08:00

The risk-based capital (RBC) framework for the takaful industry is expected to be implemented in the first half of next year, paving the way for stricter capital requirements for Islamic insurance.

The move would enable takaful players to hold appropriate level of capital to undertake risks in their daily operations.

Takaful Ikhlas Sdn Bhd president and chief executive officer Datuk Syed Moheeb Syed Kamarulzaman said currently the exposure draft of the framework had been released and feedback was being collected from the market.

“We do not expect any delay in the implementation for the RBC framework for the takaful industry as it has been talked in the industry for a while. Unlike the conventional RBC framework, which was given a one-year period for compliance, we expect the actual execution for the RBC to be in a much shorter timeframe,’’ he told a briefing at the 1st Malaysia Insurance Summit 2011.

Moheeb, who is also the chairman of the Malaysian Takaful Association (MTA), said he was upbeat that all the takaful players would be able to comply with the framework upon its implementation.

He said there were one or two takaful companies currently “fine tuning” their portfolio to meet the framework.

Asked on the portfolio mix of the RBC for takaful compared with the RBC for conventional insurers, he said it would be slightly different as there might be heavier loans for credit-base weightage for the former resulting in higher charges for some takaful players under the takaful framework. This is in view of larger loans portfolio for Islamic finance coupled with lesser number of players in the takaful market.

The RBC framework for the conventional insurance sector came on stream in January 2009.

Under the conventional framework, insurance companies are required to have a minimum of 130% of supervisory capital-adequacy ratio.

The capitalisation of the insurance industry currently is strong at a CAR of 224.6%.

At present there are 11 takaful operators and three retakaful operators with another retakaful operator about to join the stable.

According to Moheeb, this year he expected the growth rate for the industry to exceed 20% for the family and general takaful business, higher than the previous year, with the inclusion of three new family takaful operators into the market.

Meanwhile, The Malaysian Insurance Institute (MII) CEO Khadijah Abdullah said the insurance industry as a whole was projected to grow by 12% this year supported, amongst others, by the Government’s various stimulus plans and other legislative initiatives as well as the historically low interest rate environment.

According to the Life Insurance Association of Malaysia (LIAM) that in addition to these numerous initiatives announced in the Economic Transformation Programme, including the private pension plan and worker insurance scheme, economic conditions in the country are ripe for further life insurance development.

She added the current consumer confidence in Malaysia has also shown marked improvement, rising to 107 points on the latest Nielsen Global Consumer Confidence Index - its highest score since the third quarter of 2006.

The General Insurance Association of Malaysia (PIAM) meanwhile reported that, in absence of any further adverse impacton the world economy, the association foresees the outlook for the general insurance industry this year to be positive with an increased demand for insurance in all areas.

Likewise, MTA also expects the Islamic insurance industry to continue to improve on its 10% market penetration, particularly by expanding into rural areas.

Khadijah said Malaysia and other Asean insurance markets should consider implementing the proposed Solvency II framework to be launched next year in the European Union (EU) so as to synergise the domestic industries as to be at par with other advanced markets.

This new framework would create a new scenario for the EU insurance legislations to facilitate the development of a single market in insurance services in Europe, whilst at the same time securing an adequate level of consumer protection, she noted.

Retirement in Malaysia

2011-08-21T18:14:00.002+08:00

FOR 30 years, Mazlan Ahmad worked as a technician in a factory. When he retired at 55, he had RM155,000 (S$62,852) in EPF savings and about RM20,000 in the bank.

In the first year upon retiring, he spent about RM30,000 of that total. At the rate he was going, Mazlan, 57, knew the money would not last long. So he decided to go back to work for his former company last year.

"Luckily I don't have anything to pay off such as my house or car. Also, my children are all grown up," says Mazlan, who feels that he can only retire if he has RM1mil in savings.

For the lower income group, RM1mil may seem beyond reach but to others, especially those living in the cities where cost of living is much higher, it may just be the minimum amount one would need to have in the kitty before thinking of retiring.

According to the Global Ageing Report by The Nielsen Company released in February this year, about 56% of Malaysians retire, or express their wish to retire, before turning 60.

However, only 21% believe they are financially ready to retire. Another 44% are unsure while 35% are currently not financially set for retirement, according to the report.

For instance, many have yet to settle their housing loans or they live in rented accommodation. With prices of fuel and food spiralling, it is not an easy ride for retirees who also have to worry about medical expenses.

Given that the average life expectancy of a Malaysian is 74 years, retirees have about 20 years of living without income to "worry" about. This is after taking into account that they have settled their mortgages and car loans and do not have to worry about their children's education.

Rajen Devadason, a Securities Commission-licensed financial planner with MAAKL Mutual Bhd, estimates that between 80% and 90% of middle-aged urban Malaysians will need between RM500,000 and RM5mil to retire well in the next three decades.

"Most people will never succeed in building a retirement nest egg of that size because they are not pursuing it as a major life goal with dogged determination," he opines.

Echoing Devadason, Yap Ming Hui, managing director of Whitman Independent Advisors Sdn Bhd, believes that those in urban settings such as Klang Valley would need at least RM1mil to retire.

He says if one spent about RM4,000 a month, a million ringgit could last about 20 years after taking into consideration inflation. "A million ringgit in 20 years won't be that much because of inflation," he adds.

Most Malaysians rely on their EPF savings to pull them through their golden years while pensioners survive on half their last drawn salary. According to the 2010 EPF report, most Malaysians have an average RM146,000 in savings by the time they retire.

More worryingly, a survey by the EPF showed that 70% of retirees use up all their EPF money within three years of retiring. And 99.9% of the contributors reportedly withdraw their EPF savings in a lump sum once they reach 55.

"Many Malaysians think their EPF savings are sufficient but they definitely need more than that. Quite a lot of people have to work again because they can't really afford not to," says Credit Counselling and Debt Management Agency (AKPK) CEO Akwal Sultan.

Author Azizi Ali, who wrote the book Retire Rich, says the propensity to spend after retirement might even be more than when one is working.

"Do you spend more during weekdays or weekends? Most would say weekends. When you are retired, every day is like a weekend," he says, adding that most people don't even have 50% of what they need for retirement.

"This is scary, yet many people don't realise this. To be poor in old age is the ultimate prison. If you are young, at least you can work."

It is for this reason that people have to start financial planning for retirement as early as possible, and Devadason believes those who manage to hit the million ringgit mark when they retire are those who began saving and investing in their 30s or 40s.

"Every person who is willing to sacrifice short-term thrills for long-term value can build up a savings and investment portfolio that eventually exceeds RM1mil," he says.

Yap points out that most Malaysians tend to under-save or under-invest. "It won't matter how much you earn if you can't save money. One should always live within their means," he advises, adding that salaried workers should save at least 30% of their gross income.

The second rule, says Yap, is investing so that money will grow higher than the rate of inflation. "If you put your money in a fixed deposit account, you are going to get about 3%. What if the inflation is 4%?

"But if you put your money into something that grows by 8%, your money will grow 4% (after deducting 4% for inflation)," he elaborates.

There are many investments that grow faster than the rate of inflation; like property, the share market, unit trust funds and commodities such as gold. The golden rule of investing, of course, is not to put all your eggs in one basket, says Yap.

"For example, it would be dangerous to concentrate everything on property or the share market. What if property prices go down or the share market collapses?"

Both Devadason and Yap recommend investing EPF Account One savings in portfolios such as unit trust funds. Furthermore, Yap suggests investing this money in equity or balance funds.

(EPF guarantees at least 2.5% although in 2010, these returns were 5.8%.)

"More often than not, those with long-term investment time horizons exceeding seven years have succeeded in that goal of earning compounded returns above those of EPF," says Devadason.

Financial advisor Cheong Mei Kay, who gives advice on www.mckeycheong.com and deals mainly with clients from the ages of 19 to 35, finds that many in this age bracket don't think about retirement.

"I believe they are aware but they don't take any action. They tend to think it's still too early for them to think about retirement," she says.

Cheong, 24, usually tells her young clients to start allocating a certain portion of their income for retirement.

"Young people usually know how to spend and don't save as early as they can. I would advise them to do so when they start earning."

Cheong says while many people accumulate wealth, it is more important to grow it.

Her advice to youngsters is to start with some low risk investment or savings like fixed deposit or a saving account in an insurance company before attempting medium-higher risk investments.

"It's like building a house. You must build up the base first."

Business Partner

2011-08-19T22:57:00.004+08:00

Are you looking to partner with someone to start your own business? Are you a business owner looking for a partner to increase revenue and enhance your business? Great, well I hope you have the flowers and invitations ready because you’re about to get married! Congrats. Exaggerating? Not really. We’re talking about a contractual agreement between two people for better or for worse who are dependent on each other for the success of an institution.

Money issues cause a lot of friction in marriages. In business, money IS the issue. Like marriage, your partner might be the biggest blessing in your rise or the biggest cause to your fall. Needless to say, to have success and happiness, it is imperative that we take time to qualify who our partners will be. Here are some tips.

The Past Matters:People can change, yes. Are the odds in your favor, no. Barring the obvious criminal background check it is imperative to look at your potential partner’s past business dealings. Has he or she had disputes with previous partners? Do past clients say good or bad things about their business practices? Did YOU personally have a previous encounter with the potential partner that didn’t sit well with you? These are all valid pieces of evidence to consider before you say “I do.” In other words, if the potential partner cheated on a previous partner, don’t be surprised if they do it to you.

Accountability:
Being accountable to someone, in essence, is a physical display of respect. Being punctual, pulling your weight, and keeping your word are important characteristics you should display and expect your potential partner to display as well. Doing these things correctly and consistently says two things...this business matters and YOU matter. When another person has enough power to bring success or failure to your business feeling like you can count on them will help you sleep at night. Even the small things count because remember, those who can’t be trusted with little, can’t be trusted with much. Respect in a relationship is everything.

Love:
Ok, maybe love is a little strong for business, but heck, you should at least like them. You will be spending a lot of time with this person, possibly more than your own family. Make sure your partner is someone with a positive aura who you genuinely enjoy working and learning from. This doesn’t mean there won’t be disagreements and tough times. However, when those arise, make sure you remember the reasons you were attracted to this person in the first place whether it was their talent, their drive, or their connections. Whatever the reasons, focus your partners energies on those things so that your business will reap the most rewards from their skills. Make sure you and your partner share the core qualities of integrity and trust but also make sure they add value that you can’t. Like a pastor I heard say once, “alike enough to get along, different enough to be necessary.”

No Credibility

2011-08-19T22:49:00.002+08:00

Would you buy a used car from Paris Hilton? As our Magic 8 ball used to say, "Outlook not so good." According to a recently released poll by Ipsos, a whopping 60% of Americans don't trust her.

Hilton was found to be the absolute least trustworthy celeb, beating out other morally questionable folks like Charlie Sheen (52% unfavorable), Britney Spears (45% unfavorable), and Kanye West (45% unfavorable). Others on the bottom of the list of unpopular personalities: Arnold Schwarzenegger (44%), Tiger Woods (42%), Kim Kardashian (38%), Mel Gibson (33%), Donald Trump (31%), and LeBron James (29%).

Nicol World Best

2011-08-14T19:46:00.000+08:00

Malaysian squash superstar Nicol David claimed the Australian Open women's title at her first attempt when she downed England?s Jenny Duncalf in straight games in Canberra on Sunday.

David was at the brilliant best as she shut out Duncalf 11-8, 11-4, 11-6. The world number one took control from the first game, jumping out to a 6-1 lead, and although Duncalf fought back to level terms the Englishwoman was always playing catch up and David never looked like relinquishing her grip.

"I knew that today was going to be a tough final, she knows my game really well and we play each other a lot," David said. "I really had to stay consistent in there, I was moving well, I focused well and I just stayed on my game."

Tips On Buying Life Insurance

2011-08-14T17:54:00.003+08:00

Whether you've bought a house, started a family, or simply want to ensure your loved ones will be provided, life insurance is often a must. Nathalie Bonney shares her top tips for buying life insurance. Nobody likes to think about what would happen to their loved ones when they die, but if you want to ensure your dependants are looked after, taking out life insurance is often a must.

Look after yourself
Ensuring you lead a healthy lifestyle will help reduce your premiums, as you’ll be viewed as less ‘risky’ by insurance companies – heart disease and high blood pressure, for example, are commonly linked to obesity.

According to Kevin Carr, director of protection development at PruProtect, the more unhealthy you are, the higher your premiums. If you give up smoking for at least 12 months, this could also dramatically reduce the cost of your life insurance.

Start paying earlier
The earlier you take out insurance, the cheaper your premiums – as long as you take out a guaranteed policy, which means your premium will remain the same throughout the term. When you’re younger you’re usually healthier and fitter, and so are a lower-risk client.

Remember to take inflation into account, as the real value of your payout will be reduced over time. Protection specialist LifeSearch suggests considering taking out an index-linked policy, so that its value keeps track with inflation.

Take out separate policies
Although taking out two separate policies will cost slightly more than a joint policy, Carr thinks the former is “better value for money” because you get two payouts instead of one.

A joint policy only pays out after the first person dies – therefore two payouts would be more beneficial to couples with dependants.

Use a trust
If you are concerned that your estate might be subject to inheritance tax when you die, then consider putting your life insurance into a trust. This will ensure the payout goes to the person, or people, you intend it to, rather than the taxman.

Be honest
Pretending you don’t smoke or only drink a couple of glasses of wine a week in order to cut your premium is pointless – your insurer might not pay out if it discovers you have been dishonest.

Also, always give as much detail as possible, and get regular checkups with your GP to ensure that the details in your policy are up-to-date.

Why You Need A Life

2011-08-14T17:46:00.002+08:00

Life іs ѕo uncertain thаt nobоdу knоwѕ what іs going to happen thе nеxt moment.

In such а situation, having a life insurance сan prove to bе а boon іn case оf аn unexpected calamity. Before уou choose а partiсulаr policy, іt iѕ neсeѕѕarу tо find a reliable website thаt prоvidеѕ life insurance quotes frоm a number оf providers.

Such a site is vеry useful becаuѕе yоu dо not nеed tо visit thе websites of the vаriouѕ insurance policy providers and you can get dіfferent quotes on the ѕamе portal. It bеcоmes easy tо compare theіr rates and оther terms in order to choose the mоst suitable one.

Why іs Life Insurance Necessary?
It іs a hard fact оf life thаt thеrе іs no guarantee that a person whо іs hale аnd hearty wіll be alive thе next moment. His wife аnd kids wоuld bе left high and dry wіthоut аnу means оf support partіculаrlу іf hе іs thе оnly breadwinner of thе family. It will protect hiѕ family bеcausе theу wіll get thе amount оf thе insurance cover that wіll sее them through for manу years.

It іs absolutely essential for a person hаvіng children to take a life insurance policy beсаusе іn the event of hiѕ untimely death, thе amount of the settlement сan set them uр fоr thе rest оf theіr lives.

If the person had a home mortgage, his cover will protect hiѕ family bесаuѕe theу wіll nоt have tо make future payments for the mortgage. This іѕ indeеd а very big advantage fоr a family bесаuѕe thеу nееd nоt worry abоut finding аn alternative shelter. This iѕ onе of thе most important reasons why yоu must takе а life insurance cover after obtaining thesе quotes frоm a reliable website.

Factors Affecting Life Insurance Premium Costs
The cost оf gеtting a life insurance cover depends оn а number оf factors that аre known as underwriting factors. The mоst important factor іs the perceived risk of thе person taking thе insurance policy. It is obvious thаt if thе person haѕ greater risk factors, hiѕ premium will аlsо bе high. These factors include health, age, past driving records, occupation, and dangerous hobbies whісh соuld endanger hіs life. The insurance premium is calculated оn thе basis оf thеsе risk factors, thе amount оf coverage оf thе policy, аnd іtѕ duration.

The health оf the person and hiѕ age arе thе biggest criteria for determining the insurance premium. The оther determining factors include аnу history оf alcohol addiction and/or substance abuse lіkе cigarette smoking, and history of аny hereditary disease in thе family lіkе obesity, diabetes, heart problems, аnd so on.

Choosing the Right Insurance Company
If уоu wіsh to tаkе a life insurance cover, yоu shоuld visit а website that рrovіdеs comparisons of life insurance quotes from а number оf insurance companies. If уоu аre a high-risk case, you wіll find suitable insurance companies thаt specialize іn ѕuсh cases and offer affordable rates. It is essential that уоu enter all information aѕ required by the site. Then уоu will get а number оf thеse quotes frоm dіffеrent insurance companies tо enable yоu to compare and choose thе one thаt suits уou the best.

Life Insurance Malaysia

2011-08-13T21:00:00.001+08:00

Insurance companies can expect healthy demand from the 20 to 40-year-old crowd in Malaysia as 60% of this group are planning to buy life or health insurance products in the next 12 months, according to a survey by Swiss Re Ltd.

In the study covering 13,800 people in 11 major Asia-Pacific cities, Swiss Re found that 20 to 40-year-old Malaysians are more worried about medical bills, with 60% concerned about getting a serious illness and 57% the inability to pay for long-term medical expenses.

They also tend to underestimate their life expectancy by 15 years when comparing their self-perceived average life expectancy to the official average life expectancy of 75 years old.

The perception gap was the largest in the Asia-Pacific, suggesting a significant longevity risk.

“This large perception gap should ring an alarm bell, as underestimating life expectancy can be a risk in the sense that people may not plan sufficiently to meet their financial needs after retirement,” said Swiss Re Malaysia head and director of reinsurance client markets, Eric Gan.

The study showed that 61% of respondents in Malaysia are concerned about the amount they have to pay for medical expenses relating to major illness, while 62% are concerned that their medical or health insurance premium will increase beyond their affordability in the future.

Gan added that “both the public and private sectors must act together to ensure that living longer remains a benefit to society, rather than a financial burden.

“In particular, the insurance industry can play a key role in raising public awareness of longevity risks and the importance of personal financial planning at an early age, as well as in offering suitable products and services for tackling the challenge”.

Most Malaysians also prefer to buy insurance through insurance agents (81%) and banks (31%) as financial soundness, reputation and value for money are ranked most important when considering an insurance company.

In addition to that, the study noted that only a small portion of Muslim respondents in Malaysia and Indonesia have bought Islamic insurance products.

The study said that “an overwhelming majority of the respondents either do not know or have limited knowledge of (Islamic insurance) products”, indicating consumer education is clearly needed.

The survey also found that the Malaysian group is generally more risk averse compared to their Asia-Pacific counterparts, including Singapore.

Gan said: “Compared to their Asia-Pacific peers, Malaysia's 20 to 40 year olds are less willing to take risks on their health and career, and more willing to take risks on their lifestyle.”

The survey titled Swiss Re Survey of Risk Appetite and Insurance: Asia-Pacific 2011.

It was conducted in April and May in Australia, Singapore, South Korea, Taiwan, China, India, Indonesia, Vietnam and Malaysia.

Buying Life Insurance Directly

2011-07-30T18:00:00.002+08:00

A new study released by LIMRA and the LIFE Foundation on Wednesday found that Americans, especially those who are younger, prefer to buy life insurance via the Internet, mail or by phone.

Although 64% of consumers are still buying life insurance from a professional, far fewer are doing so compared to 1996 when 80% preferred to purchase it face-to-face. Now, 26% of consumers prefer to buy life insurance directly.

“Obviously, the Internet has fundamentally changed consumers’ buying practices over the past 15 years,” said Marvin H. Feldman, president and CEO of the LIFE Foundation, in a press release. “Recognizing the growing consumer interest to use the Internet to conduct research and buy life insurance, life insurance companies and agents have developed and implemented innovative strategies to engage and serve consumers through their websites and social media platforms that are more convenient for the customer.”

Meanwhile, three out of four of those between 25-44 years of age prefer the Internet to buy life insurance.

The study found consumers in general feel life insurance is a necessity, with 86 percent agreeing that most people need life insurance. Nonetheless, only 70% think they personally need life insurance and just 63% of individuals surveyed say they own some sort of life insurance.

“Life insurance has never been as easy or inexpensive to buy, yet millions of Americans continue to put off making a purchase that they, by their own admission, say is an important one,” said Feldman.

The study revealed a few other highlights: Individuals rank understanding what they’re buying when it comes to life insurance as the most important factor in their purchasing decision, followed by obtaining the proper amount of coverage. Price ranked fourth out of six factors, with only 14% saying it was most important to them.

Yet worries over price keep people from buying more insurance. Although the study states that the cost of basic term life insurance has tumbled by about 50% over the last decade, consumers still think life insurance costs a lot. Of insured individuals who say their coverage is inadequate, 85% say cost has prevented them from buying more, followed by 76% who cite other financial priorities and 55% who say they don’t know what to buy, the report found.

The biggest reason people report owning life insurance is to cover burial and other final expenses followed by replacing the income of a wage earner. Sixty-two percent of individuals of all income levels say they see life insurance as a way to transfer wealth or leave an inheritance.

As for financial concerns, 46% of respondents said they are extremely or very concerned about having money for a comfortable retirement, followed by 42% who said they are worried about paying for medical expenses. Only 27% said they are extremely or very concerned about dying prematurely and leaving family in a precarious financial situation even though many Americans don’t have any life insurance or are inadequately insured.

The online survey was conducted from February 3 - 8, 2011 by Harris Interactive. The 2,051 respondents were between ages 18 and 75 and shared or were the sole decision maker for financial matters in the household. The margin of error in this study is +/- 2 percentage points or less.

Risk Based Capital

2011-07-26T16:33:00.001+08:00

China Life Insurance

2011-07-23T17:08:00.001+08:00

China is expected to become the second-biggest insurance market in the next 10 years, reinsurer Swiss Re said on Wednesday, noting that the Asian giant posted growth of 26.2 percent in 2010 premiums.

"The global market share of emerging countries is expected to continue to increase strongly from today's 14 percent over the next 10 years," said the reinsurer in its study on the insurance industry.

"China is likely to become the second largest insurance market within a decade," it added.

The Asian giant is now the ranked sixth, with insurance penetration at 3.8 percent, far below the 10.1 percent in Japan, 10.5 percent in France and 12.4 percent in Britain.

Overall, global life insurance premiums were up 3.2 percent at $2.52 trillion in 2010, while non-life premiums increased by 2.1 percent at $1.82 trillion.

"The economic recovery should continue and bolster premium growth in the life and non-life sectors globally in 2011," said the reinsurer.

Once You Go Black - You Wont Go Back

2011-07-20T14:56:00.008+08:00

Black rice is low in sugar but packed with healthy fibre and plant compounds that combat heart disease and cancer, according to scientists. Black rice - revered in ancient China but overlooked in the West - could be the greatest 'superfoods', scientists revealed today.

The cereal is low in sugar but packed with healthy fibre and plant compounds that combat heart disease and cancer, say experts. Scientists from Louisiana State University analysed samples of bran from black rice grown in the southern U.S. They found boosted levels of water-soluble anthocyanin antioxidants.

Anthocyanins provide the dark colours of many fruits and vegetables, such as blueberries and red peppers. They are what makes black rice 'black'.

Research suggests that the dark plant antioxidants, which mop up harmful molecules, can help protect arteries and prevent the DNA damage that leads to cancer.

Food scientist Dr Zhimin Xu said: 'Just a spoonful of black rice bran contains more health promoting anthocyanin antioxidants than are found in a spoonful of blueberries, but with less sugar, and more fibre and vitamin E antioxidants.

'If berries are used to boost health, why not black rice and black rice bran? Especially, black rice bran would be a unique and economical material to increase consumption of health-promoting antioxidants.'

Centuries ago black rice was known as 'Forbidden Rice' in ancient China because only nobles were allowed to eat it.

Today black rice is mainly used in Asia for food decoration, noodles, sushi and desserts. But food manufacturers could potentially use black rice bran or bran extracts to make breakfast cereals, beverages, cakes, biscuits and other foods healthier, said Dr Xu.

When rice is processed, millers remove the outer layers of the grains to produce brown rice or more refined white rice - the kind most widely consumed in the West.

Brown rice is said to be more nutritious because it has higher levels of healthy vitamin E compounds and antioxidants. But according to Dr Xu's team, varieties of rice that are black or purple in colour are healthier still.

They added that black rice could also be used to provide healthier, natural colourants. Studies linked some artificial colourants to cancer and behavioural problems in children.

The scientists presented their findings today at the 240th National Meeting of the American Chemical Society in Boston .

Victoria Taylor, senior dietician at the British Heart Foundation, said: 'In reality, it's unlikely there's a single food out there that will have a great impact on lowering your risk of heart disease. Healthy eating is about a balanced diet overall.

'It's great if you can eat more of some groups of healthy foods, like having five portions of fruit and vegetable a day, but there is still no conclusive evidence that 'super foods' alone make a real difference to your heart health.'

http://www.dailymail.co.uk/health/article-1306356/Black-rice-new-cancer-fighting-superfood-claim-scientists.html

Who Is Yeo Yi Lin

2011-07-17T16:28:00.003+08:00

Yeo Yi Lin - age 17 - lost her left leg to bone cancer and is now battling lung cancer - has shown the world that she never gives up hope by displaying her great fighting spirit and positive outlook in life. She even harbours hopes to further her music studies in England.

This Malaccan lass also brings out another very important message to all fellow Malaysians, especially the younger generation: not to lose hope and easily despair in life, especially when facing difficulties and challenges. Nurture your confidence and always be brave and strong and live life to the fullest!

Worthy Leadership

2011-07-11T17:30:00.002+08:00

As parents and professional adults, we must recognize that today’s students will grow up to be tomorrow’s social, business, and political leaders, therefore, we must help them to develop the necessary skills of leadership.. Does there need to be a basic level of leadership ability within every person? Yes, because even if a person does not lead others, he or she must lead him or herself.

It is common to think of a leader as someone who is very verbal, outgoing, and visible, makes their opinions known, and has plenty of them! But, leaders can be quiet people, too. In fact, some people will be more inclined to follow the strong, quiet types who lead by example, rather than by words.

Some people are "born" leaders and some have follower tendencies due to innate personality characteristics.

What is leadership? Leadership is defined as one’s ability to guide, direct, or influence people. To provide a more encompassing definition of true leadership, however, Grahek, Phillips, & Thompson (2008) refer to “worthy” leadership. The word worthy is defined as having adequate or great merit, character, or value. Therefore, worthy leadership is the ability to guide, direct, or influence people in a way that has great merit, character, and value.

In worthy leadership a person or organization must have the capacity to lead, the commitment to lead, and the character to lead.

So, how can we help young people to develop worthy leadership skills? A good first step is to teach them that the highest courage they can have is to dare themselves to be true to who they are in the face of adversity and challenges by life and others. Choosing right over wrong, ethics over convenience, and truth over popularity are the choices that will add up, define who they are, and measure their life. Remind them that it is important for all of us to live a life of integrity without regret and looking back because there is never a wrong time to do the right thing.

Following are a few other points to teach young people about leadership.

The Power of a Leader: True leaders are not those who strive to be first but those who are first to strive and do all possible to contribute to the success of the team of which they are a member. True leaders are first to see a need, envision the plan to answer the need, and empower the team to action. Because of the intensity of a leader’s commitment to the task at hand or principle employed, the power of those others involved can be catapulted into action.

The Essence of Leadership: A true leader has the confidence to stand and act alone, the courage to make tough decisions, and the compassion to listen to the needs of others. He or she does not set out to be a leader, but becomes one by the quality and integrity of his or her actions and intent. Leaders are a lot like eagles in that they do not flock together, rather are likely found one at a time.

The Essence of Character: A person’s true character is usually revealed by the clarity of his or her convictions, the choices made and the promises kept. By holding strong to one’s principles and refusal to follow the path of convenience, the essence of a person’s character can be evidenced! Both what one says and does defines who that person is, and who they are…they are forever.