Greed & Scam

Malaysians lured into investing in illegal interest schemes have been fleeced of at least RM620mil over the past three years.

The Companies Commission of Malaysia (SSM), concerned over the rise of such scams, published an advertorial in the wake of recent complaints over a Canadian land-banking scheme to remind investors of the risks involved.

“An interest scheme is a form of investment in a medium other than shares and debentures (unsecured loans) involving the pooling of public funds to finance the business activities of a company,” Mohamed Sufyan said.

In return, participants are offered a specific return on their investment in the form of money, benefits or facilities.

“A common modus operandi involves convincing people to make a one-off investment in a business endeavour that is managed entirely by the operator,” Mohamed Sufyan said.

Another is to convince investors to build their own business (often with a buyback guarantee) on the condition that they purchase their training and equipment from the operator. “The operators are creative,” cautioned Mohamed Sufyan.


A few years ago, agriculture and its products (like lemon grass, leeches, earthworms, seaweed) were very popular.

Recent products include livestock (swiflets and arowana fish), plantations (palm oil, jatropha and agarwood), leisure and property development (holiday homes and hotels), equipment (ice-cream, ICT and water-vending machines) and gold.


However, not all interest schemes are illegal. There are provisions that regulate them under the Companies Act 1965. “Legal schemes are registered with SSM in accordance with requirements under the Companies Act 1965,” said Mohamed Sufyan.

He said the only way to determine the legality of an interest scheme was by verifying with SSM the status of the company and the scheme it operated. To date, SSM has registered 173 schemes worth about RM1.29bil.

A list of registered interest schemes is available on the SSM website (http://www.ssm.com.my/en/company/is-registered-scheme-public) and the public can call 03-2299-5500 to check or verify offers from interest scheme operators.

Makan Makan - My Shoe

GEORGE TOWN: The Penang Malays Congress (PMC) Secretary Mohd Noor Mohd Abdul Kader - today hit out at Perkasa members for causing the ugly Esplanade ruckus during the anti-Lynas peaceful gathering on Sunday. He condemned Penang Perkasa leader Mohd Rizuad Mohd Azudin for rudely showing a shoe to Chief Minister Lim Guan Eng when the DAP leader was leaving the place in his official car.

Mohd Noor criticised the Perkasa mob for being “un-Malay-like” in creating the disturbance at the peaceful gathering, in which two reporters were roughed up.
“Perkasa has embarrassed the Malays and insulted the intelligence of a civil society with its mob culture.

“The crowd was rude and vulgar,” Mohd Noor told FMT here today. He said he was ashamed at the ill-mannered behaviour of Mohd Rizuad, who was seen by many – and caught on cameras and videos – showing a shoe to the chief minister.

“It’s against Malay culture and custom. Malays are disgusted with Rizuad’s loutish gesture.” “Umno should blame Rizuad if it loses more votes and seats in Penang in next general election,” he added. He blamed Lim for causing the Esplanade ruckus. He claimed he was upset when Lim condemned Prime Minister Najib Tun Razak and his 1Malaysia concept in his address to the anti-Lynas crowd.

In the ugly incident, two newsmen from Kwong Wah Daily were roughed up by the mob. Besides Perkasa members, state Youth chief Shaik Hussein Mydin has confirmed that the mob included members from the Umno Tanjung division

Confucius Confusion

Malaysia Takaful

Zainudin said: “If the situation in the eurozone worsens and causes the reinsurers to hike their pricing, then the takaful and insurance companies including those in Malaysia would likely see higher prices for takaful and insurance products.”

Growth wise, he said the new Financial Sector Blueprint (2011-2020) would provide the impetus for the takaful industry to grow further by promoting access to other financial services sectors by introducing a range of directives, guidelines and best practices that would indirectly facilitate and drive its growth.

Among the recommendations in the blueprint were to develop a vibrant private pension industry for retirement and old age and the provision of wealth management products and services to cater to the demand of the growing affluent segment.

The industry experienced a compounded average growth rate of 27% in terms of net contributions between 2005 and 2010, with family takaful driving the growth at 28% for the same period.

Family takaful growth dominated over 80% of the total takaful market in 2010, and MTA was upbeat on the continued strong growth momentum, underpinned by rising affluence amid strong economic fundamentals.

Given the large untapped market that still exists with only 54% of the population having a life insurance or family takaful policy, the takaful industry was poised to benefit in years ahead, Zainudin added.

He said some of the major issues in the industry were inadequate investment instruments to meet the needs and demands of businesses as well as the shortage of talent.

Leaving Your Job

The reasons you stay in a job or career you don’t like are:

You’ve been conditioned to stay
The famed psychologist B.F. Skinner proved that being rewarded at random intervals (rather than on a fixed schedule) is a highly effective way to reinforce behavior. Our corporate employers do a wonderful job of keeping us coming back for more in our current roles, tightly weaving us into the fabric of the organisation by giving us little random rewards (a boss’ praise, a new plum client, an exciting new project, etc.)

You’re risk averse, now more than ever
We all know humans are risk-averse. Now, however, with online social networks and digital technology on the rise, your movements are far more visible. You fear looking bad in front of thousands of people if it doesn’t work out, so you stay put.

You don’t reach for the highest peak because you’re focused on scaling smaller ones
Finally, Mr. Gulati points out that a majority of professionals are focused on "winning" the prize in front of them (such as the next promotion or raise). They choose to scale the smaller peaks that emerge before them, rather than choosing a different terrain entirely and starting at the bottom of a new, higher mountain that may be much more satisfying and lucrative.

I agree 100% that these factors and behaviors inhibit our movement and growth. However, I believe this – these are all still excuses. Another way to look at these inhibitors to change is to see them as core fears such as: 1) I’m afraid to give up the small rewards I have for the ultimate ones I want – fulfillment and success; 2) I’m afraid of failing and being seen as a big loser; and 3) I’m afraid to stretch myself to the highest degree possible because it’s hard.

Yes, most people are afraid and resistant to make significant life or career change. But many still get over themselves, overcome their conditioning and push through. As the slogan says, They "just do it." I for one did it - underwent two career transformations, from miserable corporate VP to marriage and family therapist, and then from therapist to career and executive coach and consultant. And I’m so grateful I did. The majority of professionals I coach and train each year (numbering in the thousands) are changing jobs or careers too, with great success.

Why do these people quit their jobs or change careers, and why will YOU? Here are what I’ve found to be the top five reasons why professionals finally bite the bullet and make job or career change:

1) You’ve simply had it with what you have and what you’ve created
You wake up one day and realise, "I absolutely don’t want this anymore. I’m clear, and I’m done." There’s enough pain, discomfort, meaninglessness or disconnection in your work that you simply can’t continue this way one more minute. The small, random rewards you’ve been receiving over the years just don’t cut it anymore. You’re not seduced by them any longer.

2) You have the confidence and courage to do it
You’re smart and savvy. You’ve done your research about what’s involved to successfully change jobs or careers, and understand what it takes. You realise that, while your self-esteem has been rocked a good deal throughout these past years in this job, you still have enough confidence and grit to do what’s necessary.

3) Your eyes are wide open
You’ve learned an enormous amount throughout your jobs and the arch of your career. You’ve seen that it’s not just your job that’s making you miserable, but it’s YOU in your job that you want to change. You realise that getting on the path to making career or job change is exactly what’s required if you want to have a new kind of life.

4) You have the support you need

You know you can’t make this change alone. You need outside help that offers an empowered perspective of you, your talents, skills and passions. You know you need the support of key friends and family as well as those who will keep you accountable, and you have it.

5) You know there’s something more to this life, and that you deserve it
Finally, you know that this unhappy job (and simply paying the bills each month without any joy or fulfillment in your work) is not all there is to life. There IS more, and you’re hungry for it. The bell has been rung. Further, you know that you deserve it, because you understand that everyone deserves a fulfilling, joyful and successful life and career. You will get it because you will design it that way, from this day forward.

Meaning Of Integrity

A man, without his word, is nothing. In the business world and in your personal life, the same rules apply. In the corporate world, you should never be in a situation where you've let someone down because you should never promise anything in the first place. It's a business, not a freaking charity.

Don't mince words
I hate "cafones" or Wigglers that wiggle around a question that puts them on the spot. You ask him something and he'll say: "I don't know, maybe. I'll find out. We'll see." It's either yes or no.

The same principle follows when you make a promise. When you say "I promise" or "you have my word," it's a done deal. Period. You do as promised. That's it, that's all.
Only a stupid man would give his word or promise something he knows he can't deliver. The dumb wiggler who puts himself in this situation eventually has to lie and BS his way out of his promise to save face, but it's too late. In the eyes of the person he let down, his word means nothing now. It's like respect and trust; it takes a lifetime to get and it takes only one stupid move to lose it.

Give your word when you mean it
When you promise something, the other person must assume it's a done deal. Your word should be like currency. It's money in the bank for someone who is counting on it. That being said, you shouldn't dole it out over everything and anything, or it will lose its value. Because your word is like currency, you must give it only when the occasion is important enough to call for it. The person you are promising something to must be able to recognize that your promise has value. You don't give money out to every Tony, Dino and Nick do you? Why do the same with your word?

Admit when you can't do it
When you are faced with a situation that demands something of you (whether it's a favor, a contact, doing some job), and you know you can't deliver, admit it. Tell them you don't believe in false promises and bluffs. It's simple. Don't wiggle or skirt the issue. If, in the end, you can make good on whatever was asked of you, it will only make you look better in the eyes of the other person.

Fulfill your promise 100%
The first time you are asked for an important favor in which you must give your word, make sure you give it your 100% effort. First impressions count. I learn a lot about a man after I ask him for a favor. If he keeps his promise fully and completely without any hint of an excuse or hesitation, he has gained my respect. He set the tone properly from day one. So make sure you have the story straight on that first favor. You don't want to be calling back whoever you've made a promise to with questions two days later.

Never go back on your word
Even if you've been screwed over more times than a one-legged prostitute, you should never back down from your word. I don't care if you don't trust your own shadow. If you are in a situation where you have promised something, you do it. Period.

If you ask, assume it's done
Don't go busting chops on someone who promised you something either. Unless you have reason to doubt the person, when someone gives you his word, assume it's a done deal. If it isn't, you get over it in the moment and deal with it later. Hopefully, you know some background on this guy. You should know better than to ask a favor from a guy who is shadier than an oak tree.

A promise is a promise
There is no such thing as different degrees of promise. Either you do or you don't. This counts for the little things too. Either you are going to your friend's baby's baptism or you are not. You are either going to be there at 10 p.m. or you are not. Either you are going to give a guy a promotion or you are not. Capisce ?

Keep your rep intact
Keeping your word can save your reputation and even your life. If you are the type of guy whose word is truly golden, your reputation will reflect that. People will come to respect and trust you. There may be a day where you have to call up that ace. The day you owe someone money, or you screwed up, you might have to call upon your golden word to "promise to fix the problem." If your word has the value of used tissue, you are a dead man. If your word is respected, you might be allowed to fix whatever mess you've gotten yourself into. It's especially in situations like these that you should never break your promise.

Evoque Coupe