Showing posts with label career. Show all posts
Showing posts with label career. Show all posts

Sunday, June 5, 2016

Online free search of registered company name and purchase of their company profile with SSM e-Info website

If you are going to start up a new business in Malaysia and would like to check whether the company name you thought of is available or not, now you can check it online for free, with SSM e-Info website.

Other than the above purpose, you can use the same website to check a Malaysian company's information at a small fee payable online. Available information including:

  • Company profile: consists of company information, summary of share capital, directors/officers, shareholders, company charges and account summary.
  • Company charges: extraction of information from Form 34 (Statement of Particulars to be Lodged with Charge) and Form 40 (Certificate of Registration of Charge).
  • Financial comparison: extraction of information from 2 most recent Audited Balance Sheet and Profit and Loss Account of the company.
  • Business Profile (for LLP, sole-proprietary, partnership): consists of business information, business address, nature of business, branch information (if any) and current business owner.
  • Business Termination Letter: certification of termination of registered Business from SURUHANJAYA SYARIKAT MALAYSIA which verify that the Business is expired or terminated.
In the good old days, you need to go to the office of Companies Commission of Malaysia (Suruhanjaya Syarikat Malaysia, SSM) to perform the searching, checking and information purchasing. This SSM e-Info website eliminates the hassle by making the service available online.

Before you can perform any searching in the website, you need to register a user account by clicking on the "Register Now as e-Account Member" image link on the website. The registration is free and once your account is successfully registered, you can immediately login and make use of the services available.

You can search the company or business by name or by registration number.

If no search result displayed, then the company name you searched for is probably available for new registration application.

If the search found any matching company/companies or business/businesses, it will display their registration number, name, city and state in search result, and you can click a button to purchase further information of the company/business.


Monday, March 7, 2016

Book: Marketing Management 15th global edition by Kotler and Keller

I would like to recommend a book about marketing which I just finished reading. It is the 15th global edition of Marketing Management written by marketing gurus Philip Kotler and Kevin Lane Keller.


In fact, this is the text book or official reference book in many marketing courses. However, being an academic book, it is not boring at all, and pretty interesting to read through. It is colourful, with many up-to-date pictures and illustrations, real life examples, and most importantly, very comprehensive and informative.

I'll show you 2 of its pages to visualize my description above:

 
The 15th edition is the latest, published in 2015. It has several variances, and even published by different publishers, but I think the content should be the same.

The topics are pretty recent, with discussions on digital communications management of online, social media, and even mobile technology. It talks about Marketing 3.0, and addresses the change in consumer behaviours from the marketing perspective. It explains about the evolution of traditional 4 P's of marketing (product, place, promotion, price) to newer 4 P's (people, processes, programs, performance) and the newer alternative of 4 A's (acceptability, affordability, accessibility, awareness).

This is a nice book for business owners, marketing managers, MBA students, business school students, and anyone who is interested to know more about the topic.






Wednesday, February 17, 2016

10 signs of a bad working environment

I would like to share with you an interesting article contributed by Dennis McCafferty to Baseline Magazine, which listed out the 10 signs of a bad working environment (or so called toxic workplace) that you must beware of.

The 10 signs are...

1. Tasks are assigned without explanation
You are constantly asked to do something that isn't likely to contribute value. When you question why, you're simply told, "Because we need you to do it."

2. Favouritism abounds
Bosses reward those who are skilled at playing politics, even though they never make productive contributions.

3. Senior management MIA
If your leaders are always out of the office, or hiding in their offices, or unable to be reached, that's an indication that something is seriously wrong.

4. Cliques are everywhere
Instead of a united team, you have factions that threaten to tear the team apart.

5. Attempts at innovation are suppressed
When you propose something new and innovative, it gets shot down in a hurry because it's "not something we normally do".

6. Efforts to improve processes are shot down
Management counters your suggestions with, "This is the way we've always done it, so why change things?"

7. Critical topics are never discussed
Avoiding transparency, leaders refuse to discuss important subjects, including company finances, failed projects or internal scandals.

8. People are removing personal items
If you notice that co-workers are removing family photos and personal files a little bit at a time, it may be because they're not planning to stay much longer.

9. Managers ignore questions about raises, recognition
When the stock response to these inquiries is, "You are lucky to have a job!" its probably time to go.

10. Nobody smiles or laughs
When you walk around the office and see nothing but frowns, you can conclude that a toxic environment has taken hold, and likely can't be reversed.

If you find these signs in your working place, then you are probably surrounded by atmosphere of low morale, destructive cliques, company secrets, counter-productive policies and/or high employee turnover.



McCafferty is a freelance writer for Baseline Magazine.
 
 
- See more at: http://www.baselinemag.com/c/a/Intelligence/10-Signs-of-a-Bad-Work-Environment-876005?utm_medium=email&utm_campaign=BL_NL_BB_20160217_STR1L1&dni=303975746&rni=23731907#sthash.ocwIR2WT.dpuf
McCafferty is a freelance writer for Baseline Magazine.
 
 
- See more at: http://www.baselinemag.com/c/a/Intelligence/10-Signs-of-a-Bad-Work-Environment-876005?utm_medium=email&utm_campaign=BL_NL_BB_20160217_STR1L1&dni=303975746&rni=23731907#sthash.ocwIR2WT.dpuf
McCafferty is a freelance writer for Baseline Magazine.
 
 
- See more at: http://www.baselinemag.com/c/a/Intelligence/10-Signs-of-a-Bad-Work-Environment-876005?utm_medium=email&utm_campaign=BL_NL_BB_20160217_STR1L1&dni=303975746&rni=23731907#sthash.ocwIR2WT.dpuf
McCafferty is a freelance writer for Baseline Magazine.
 
 
- See more at: http://www.baselinemag.com/c/a/Intelligence/10-Signs-of-a-Bad-Work-Environment-876005?utm_medium=email&utm_campaign=BL_NL_BB_20160217_STR1L1&dni=303975746&rni=23731907#sthash.ocwIR2WT.dpuf
McCafferty is a freelance writer for Baseline Magazine.
 
 
- See more at: http://www.baselinemag.com/c/a/Intelligence/10-Signs-of-a-Bad-Work-Environment-876005?utm_medium=email&utm_campaign=BL_NL_BB_20160217_STR1L1&dni=303975746&rni=23731907#sthash.ocwIR2WT.dpuf
McCafferty is a freelance writer for Baseline Magazine.
 
 
- See more at: http://www.baselinemag.com/c/a/Intelligence/10-Signs-of-a-Bad-Work-Environment-876005?utm_medium=email&utm_campaign=BL_NL_BB_20160217_STR1L1&dni=303975746&rni=23731907#sthash.ocwIR2WT.dpuf
McCafferty is a freelance writer for Baseline Magazine.
 
 
- See more at: http://www.baselinemag.com/c/a/Intelligence/10-Signs-of-a-Bad-Work-Environment-876005?utm_medium=email&utm_campaign=BL_NL_BB_20160217_STR1L1&dni=303975746&rni=23731907#sthash.ocwIR2WT.dpuf
McCafferty is a freelance writer for Baseline Magazine.
 
 
- See more at: http://www.baselinemag.com/c/a/Intelligence/10-Signs-of-a-Bad-Work-Environment-876005?utm_medium=email&utm_campaign=BL_NL_BB_20160217_STR1L1&dni=303975746&rni=23731907#sthash.ocwIR2WT.dpuf
Dennis McCafferty
Dennis McCafferty

Tuesday, February 16, 2016

Product feature, advantage and benefit

In the business world where sales and marketing activities are key function to bring in revenue and profit, there is a saying that if you focus in selling your product feature, the sales process will generally be more difficult than selling your product advantage to the customer; and if you focus in selling your product advantage, again the sales process will generally be more difficult than selling the benefit that your customer can get from your product.

There are 3 motivations for people to buy something:

  • Fear
  • Need
  • Greed
And people see or evaluate the value of a product offered from these 3 points of view:
  • Money
  • Time
  • Risk or Effort
You can sell the benefit to your customer by understanding their major concern.

Normally, if your customer is in need of something you have, you can just sell them your product. So, if need is the major concern, your customer will most probably hunting for it, and what you need to do is to tell them you have exactly what they need.

Are they fear of losing money? Fear of having shortage in time? Fear of being exposed to risk? What can your product help them? Coming from the "fear" perspective, you can sell them the advantage of your product, which will probably reduce or eliminate their fear.

It is said that most business selling is through the greed motivation, which you need to tackle by selling the benefit. Can your product helps to bring in more revenue or reduce more cost? Can your product helps to speed up process? Can your product helps to mitigate the risk? Can your product helps to eliminate some of the effort?

What is the different between advantage and benefit? This can be explained by using some examples:

Example 1:
Product: Light
Feature: LED illumination
Advantage: Use much less electricity, has longer lifespan, less heat generated
Benefit: Save electricity cost, reduce hassle of replacing faulty unit, less risk of catching fire

Example 2:
Product: Printer
Feature: Laser jet
Advantage: Faster printing, handle high volume printing, waterproof printout, quality output
Benefit: Save printing time, presentable printout that you can confidently handover to customer as sales material, no risk of water smearing which is a major problem of inkjet printing

Sunday, November 1, 2015

Auspicious dates for opening business in 2016

Here is the list of auspicious dates for opening business in year 2016, which is produced based on the Chinese almanac Tong Shu.

It can be applied to new business opening, or reopening of business after a break/holiday. (Click the image to enlarge)


Bear in mind that although the Tong Shu is a compilation of Chinese astrology and calendaring studies gathering wisdom of thousands of years, we should use it wisely and rationally, but not be too superstitious on it.

Thursday, October 22, 2015

Six lessons that project managers could learn from elephants

Elephants are majestic creatures that have remained mysterious to humans though they have been domesticated thousands of years ago.

Tales of their bravery and intelligence have been carried through generations which can teach us a few things about community life.

Startups with brilliant plans and experienced project managers sometimes fail to implement their tasks or time or fail to recognize business opportunities and fall behind others.

Here are a few lessons that project managers can learn from these intelligent animals who have managed to survive for centuries in the midst of harsh environmental changes and pressure from human settlements.

1. Learning from mentors

Like a calf learns its first lessons humbly from its mother and other senior cow elephants in the herd and hones its survival instincts, project manager should also display humility before experts more experienced than them. Expertise and experience of seniors will help project manager avoid problems and maximize potential of success.

2. Awaiting recognition

The present trend among people is to work hard and achieve success at a faster pace to be considered as achievers in society and workplace. In this thirst for recognition and quick fame people fail to take time to appreciate efforts of others which have helped to bring them to this level. The ideal work culture should be to let your work speak for itself instead of hankering after glory.

3. Developing a thick skin

People in general lack a healthy attitude towards criticism and comparison and tend to develop negative reactions. The right approach would be to develop thick skin like an elephant which is extremely tough and take criticism in a positive manner to improve work standard and use it as an enriching experience.

4. Optimal use of strength

Just as an elephant uses its massive strength to pull a tiny shrub or a large tree with the same deftness, a project manager also should know where to use their expertise. Each individual is endowed with strength and ability to perform tasks and project manager has to recognize these abilities of team members and put them to effective use.

5. Effective communication

Elephants communicate with each other continuously to stay in touch and also to discuss about vegetation and water resources. In digital age man has much more tools of communication in hand to share ideas and convey progress reports. The key lies in sharing details at appropriate times to manage project progress.

6. Surviving against adversity

As firms grow and expand there will be bigger challenges for project managers as they will have to compete against bigger brands and people more experienced than themselves. Strong managers have to develop survival instinct to give a fair fight to all opponents and complete project successfully.

(Note: The above is excerpted from the Project Portfolio Management Playbook published by Thinking Portfolio)

Wednesday, August 26, 2015

The Seven Deadly Social Sins as shared by Mahatma Gandhi

Indian folk hero Mahatma Gandhi wrote about the Seven Deadly Social Sins, also known as the Seven Blunders of the World, or the Seven Dangers to Human Virtue, or the Seven Things that will Destroy Us, in the Young India newspaper in 1925.

The list is as below:

  • Wealth without work
  • Pleasure without conscience
  • Knowledge without character
  • Commerce without morality / Business without ethics
  • Science without humanity
  • Worship without sacrifice / Religion without sacrifice
  • Politics without principle
Mahatma Gandhi also gave the same list to his fifth grandson Arun Gandhi, who is now an Indian-American socio-political activist.

It is said that Arun later added the eighth into the list, which is:
  • Rights without responsibilities
Dr. Stephen R. Covey (author of the famous book The Seven Habits Of Highly Effective People) has, in his another book titled Principle Centered Leadership, allocated a chapter to explain about Gandhi's list of seven deadly social sins.

According to Dr. Stephen Covey...

Wealth without work refers to the practice of getting something for nothing - manipulating markets and assets so you don't have to work or produce added value, just manipulate people and things. These include professions built around making wealth without working, making much money without paying taxes, benefiting from free government programs without carrying a fair share of the financial burdens, and enjoying all the perks of citizenship of country and membership of corporation without assuming any of the risk or responsibility.

Pleasure without conscience is a mind-set of immature, greedy, selfish, and sensuous. It is our challenge to learn to give and take, to live selflessly, to be sensitive, and to be considerate. Otherwise there is no sense of social responsibility or accountability in our pleasurable activities.

Knowledge without character is as dangerous as a little knowledge is, even more dangerous is much knowledge without a strong, principled character.

Commerce without morality - Adam Smith wrote in his book Moral Sentiment that, if we ignore the moral foundation and allow economic systems to operate without moral foundation and without continued education, we will soon create an amoral, if not immoral, society and business.

To Adam Smith, every business transaction is a moral challenge to see that both parties come out fairly. Fairness and benevolence in business are the underpinnings of the free enterprise system called capitalism. Our economic system comes out of a constitutional democracy where minority rights are to be attended to as well. The spirit of the Golden Rule or of win-win is a spirit of morality, of mutual benefit, of fairness for all concerned. Paraphrasing one of the mottos of the Rotary Club, "Is it fair and does it serve the interests of all the stakeholders?" That's just a moral sense of stewardship toward all of the stakeholders.

Science without humanity - if there is very little understanding of the higher human purposes that the technology is striving to serve, we becomes victims of our own technocracy.

Worship without sacrifice - there is no real walking with people or going the second mile or trying to deal with our social problems that may eventually undo our economic system. It takes sacrifice to serve the needs of other people - the sacrifice of our own pride and prejudice, among other things.

Politics without principle - You see politicians spending millions of dollars to create an image, even though it is superficial, lacking substance, in order to get votes and gain office. And when it works, it leads to a political system operating independently of the natural laws that should govern.

The key to a healthy society is to get the social will, the value system, aligned with correct principles. You then have the compass needle pointing to true north - true north representing the external or the natural law - and the indicator says that is what we are building our value system on : they are aligned.

But if you get a sick social will behind the political will that is independent of principle, you could have a very sick organization or society with distorted values.

Tuesday, August 11, 2015

Malaysia year 2016 national and state public holidays announced

The official 2016 national and state public holidays in Malaysia has been announced by Cabinet, Constitution and Inter-Government Relation Division (BKPP), Prime Minister Department.

There are 14 days of national holiday, and 3 of them fall on Sunday and another 3 fall on Saturday. Most of the states will have around 4 state holidays in addition to the national holidays.

 
Chinese New Year falls on Monday and Tuesday (8th and 9th February 2016). Hari Raya Puasa falls on Wednesday and Thursday (6th and 7th July 2016). Deepavali falls on Saturday (29 October 2016).
 
Click here to download the table of Malaysia year 2016 gazetted national and state public holidays.


Tuesday, April 21, 2015

Vote your survey choice for the 4 EPF proposals

The Employees Provident Fund (EPF, a.k.a. Kumpulan Wang Simpanan Pekerja, KWSP) has put up an online survey in their website at http://www.kwsp.gov.my for its members to vote for their preference to the 4 proposals they've put up.

The online survey starts from 21 April 2015 until 5 May 2015. You need to login to their i-Akaun system in order to participate in this important survey.

The 4 EPF proposals are as follow:

Proposal 1:  To raise the age for full withdrawal from current 55 to 60.

  • Option 1: To increase the minimum age for full withdrawal gradually from 55 to 60 in stages, over a 15-year period starting 2016 until 2031. The minimum age for full withdrawal to increase by 1 for every 3 years.
  • Option 2: To continue to allow for full withdrawal at the age of 55, but if you are still working and still contributing to EPF after 55, all subsequent contributions are locked in the fund until the age of retirement of 60.
What is the impact?

For option 1, your EPF money will be locked down and cannot be fully withdrawn for a longer period of time. If EPF performs badly and pays lousy dividend, you have no choice but to just accept it. Currently, you are able to make a full withdrawal of EPF at the age of 55, and you have your own choice to get a better fund manager to manage your fund, or to self manage your fund with your own investment.

For option 2, your EPF money can be set free at 55, and then zerorized and reaccumulates from 55 to 60.

Proposal 2: To collect EPF contributions from both employee and employer at the minimum amount based on the declared minimum wage. The minimum wage is currently RM900 for Peninsular Malaysia and RM800 for East Malaysia.

What is the impact?

If you are having a basic salary below the minimum wage, but total monthly income above the minimum wage after commission, your monthly EPF contributions will increase.

This means your monthly disposable income will decrease, but your total actual income will increase as your boss need to contribute more into your EPF account.

This proposal will not affect you if your basic salary is already above the level of minimum wage.

Proposal 3: To continue to pay dividend to your EPF account until the age of 100, if you don't make a full withdrawal after your age of retirement.

What is the impact?

Currently, EPF will continue to pay dividend to your EPF account until the age of 75 if your account is still active after the age of retirement.

This will be good for you if you trust EPF with your retirement fund until you die.

This will be bad for all other EPF members, as your dividend will be diluted by old folks with active EPF account.

Proposal 4: To introduce option for fully Syariah-compliant fund in addition to the existing EPF retirement scheme.

What is the impact?

The performance of the existing scheme and the new Syariah-compliant scheme might not be the same, and the effort of EPF fund managers on the 2 schemes might not be equal.

Are the members allowed to switch from one scheme to another from time to time?

If you are an EPF member, it is important to vote for your choice in this online survey, as the final decision made and enforced will have long term impact on you, your family, your children, and all subsequent generations.


Wednesday, February 25, 2015

10 things you should never say during presentations

Mr. Boris Veldhuijzen van Zanten shared in his blog about the 10 things you should never say during presentations, which I found is very inspiring.

Here are the 10 no-no, and I believe most of us had said some or all of such sentences in our presentations before. Watch out!

  • I’m very jet-lagged / tired / hungover
  • I’ll get back to that later
  • Can you hear me? Yes you can!
  • I can’t see you because the lights are too bright
  • Can you read this?
  • Let me read this out loud for you
  • Shut off your phone / laptop / tablet
  • No need to write anything down or take photos, the presentation will be online later
  • Let me answer that question right away
  • I’ll keep it short
Why Boris thinks that those sentence shouldn't be said during presentation? Click here to read the source article in his blog to find out more.

Sunday, February 8, 2015

EPF declared 6.75% dividend for 2014

The Employees Provident Fund (EPF, a.k.a. Kumpulan Wang Simpanan Pekerja, KWSP) Board, with the approval of the Minister of Finance, has just announced a dividend rate of 6.75% and RM39.08 billion gross investment income for financial year ended 31 December 2014, which is an increase of 11.66% compared with RM35.00 billion in 2013.

The 6.75% dividend amounted to a total payout of RM36.66 billion where RM5.41 billion was required to pay every one per cent of dividend rate for 2014. This was 10.53% higher compared with RM4.91 billion paid for every one per cent dividend rate for 2013, in tandem with the rise in contributors’ savings.
 
EPF global investments, forming 23% of total assets, had contributed 33% towards their total income for 2014.
 
The 2014 gross investment income was mainly driven by Equities in the domestic and global markets covering both emerging and developed countries. The asset class recorded an investment income of RM22.91 billion in 2014, up 17.37% compared with RM19.52 billion in 2013, and contributed 58.63% to the total gross investment income in 2014. Almost half of the income of the equity investment is derived from EPF’s global portfolios.

Majority of the EPF’s investment assets were placed in low risk fixed income instruments as this asset class provided a stable stream of income in the long run.
 
Loans and Bonds contributed RM7.57 billion in income, compared with RM7.51 billion in 2013. This rise was attributed to the performance of the global portfolios by both internal and external fund managers. Malaysian Government Securities and Equivalents recorded RM6.59 billion in income, registering a rise of 6.14%, compared with 2013. Meanwhile, Money Market Instruments posted an income of RM619.65 million.
 
Real Estate and Infrastructure contributed RM1.39 billion in investment income in 2014. This inflation-linked asset class, which the EPF has started invested in since 2010, has over the years been showing encouraging performance and is a 22.31% increase from 2013.
 
As at 31 December 2014, the EPF’s total investment assets stood at RM636.53 billion, up 7.91% from RM589.87 billion in 2013.
 
 

Thursday, January 8, 2015

Auspicious dates for opening business in 2015

Here is the list of auspicious dates for opening business in year 2015, which is produced based on the Chinese almanac Tong Shu. It can be applied to new business opening, or reopening of business after a break/holiday. (Click the image to enlarge)


Bear in mind that although the Tong Shu is a compilation of Chinese astrology and calendaring studies gathering wisdom of thousands of years, we should use it wisely and rationally, but not be too superstitious on it.

Auspicious dates for starting new job / post / assignment in 2015

For employees, especially those in leading/managing position, here is a list of auspicious dates  in 2015 for starting new job/post/assignment, including joining new company, which is produced based on the Chinese almanac Tong Shu.

It can be applied to first day reporting to new company/department/office/position, go for the post to lead/manage a new business unit/team/project/programme. It can also be applied to assuming new job position after promotion/restructuring/relocation exercise.

Bear in mind that although the Tong Shu is a compilation of Chinese astrology and calendaring studies gathering wisdom of thousands of years, we should use it wisely and rationally, but not be too superstitious on it.

Saturday, November 15, 2014

Ten questions you should ask during a job interview

The following is an inspiring list of 10 questions that job interviewee should ask during the interview session.

    1. How will this position change after I’ve been here a while?
    2. If this is not a new position where has the prior person gone? Did they get promoted or leave? How stable is the group that I am being hired for?
    3. How will you use my skills if the activity I am being hired for is stalled or something unexpected arises?
    4. What is the career path for this position? — to jobs with more responsibility? Management posts? Positions that require specific technical expertise?
    5. What is the project/product road-map for the next one to three years?
    6. What kind of training and support for ongoing education does the organization offer?
    7. Is there an open door policy to communicate with upper management levels within he organization?
    8. How will my role contribute to the overall mission of the company?
    9. What outcomes will you use to measure those contributions? What metrics will be in place to measure personal and team performance?
    10. Will I have opportunities to work directly with the line organization outside of my group?

Source: the blog of Janco Associates.

Wednesday, October 1, 2014

Full report for free download: ICT Job Market Outlook in Malaysia (June 2014)

Are you working in the ICT industry or as an ICT personnel in your organization? Or are you a student studying an ICT related subject now? If yes, you might be interested in this newly released  ICT Job Market Outlook in Malaysia (June 2014) by PIKOM in collaboration with Jobstreet and MDEC.

Given the orientation towards a service focus economy, the ICT Service (ICTS) segment in Malaysia is projected to register significant growth in 2014.

The ICTS segment grew at a Compound Annual Growth Rate (CAGR) of 12.4%, lifting its value-added services from RM11.77 billion in 2000 to RM59.83 billion in 2013. The ICTS segment is poised to reach the mark of RM67.99 billion in 2014 by registering a repeat annual growth rate of 12.4%. In tandem, the share of ICTS in the national Gross Domestic Product (GDP) increased from 3.3% to 6.4%, almost doubling over the period of 2000-2014.

The average monthly salary of an ICT professional in Malaysia in 2013 was RM7,152. This represents an increase of 7.2% from RM6,673 in 2012. The growth continues steadily, and this figure shows that ICT professionals in Malaysia, generally earn a higher salary in average than most other professionals.


The average salary over then past 3 years, by job category ranging from fresh graduates to senior management, is as below.


Interested to find out more detail? Click here to download the full report of ICT Job Market Outlook in Malaysia (June 2014).

Thursday, April 3, 2014

EPF i-Account Android app launched

The Employees Provident Fund (EPF, a.k.a. Kumpulan Wang Simpanan Pekerja, KWSP) has recently launched their Android mobile app called EPF i-Account, which is now freely available in Google Play Store.

You can click here to download the EPF i-Account app from Google Play Store.

It is an HTML5 based mobile app, which you can login your EPF i-Account with the same username and password which you've setup in the web-based EPF i-Account at https://secure.kwsp.gov.my/secured/member/login/

The EPF i-Account Android app enables us to view our EPF account status and the monthly contributions detail. The EPF statements for current year and previous year are also available.

We can also see our personal profile info stored with EPF.

Other features are listed as in the screenshot below.


Currently, the EPF i-Account Android app can only be used to view information. It doesn't have function to make withdrawal request or make change request.

This app is currently having Malay language user interface only.

So far, more than 10,000 people have already installed the app. Have you?

Sunday, February 16, 2014

EPF declared 6.35% dividend for FY2013

With the approval from Minister of Finance, the Employees Provident Fund (EPF, a.k.a. Kumpulan Wang Simpanan Pekerja, KWSP)  declared on 16 February 2014 for the dividend rate of financial year ending 31 December 2013 to be 6.35%, representing a dividend payout of RM31.20 billion to its members, up 13.66% over the RM27.45 billion paid in FY2012.

EPF gross investment income from Malaysian Government Securities & Equivalents and from Loans & Bonds have decreased from previous year, while the income from Equities, Money Market Instruments and Real Estate & Infrastructure have increased.

 As the EPF membership rose to more than 13 million, a total of RM4.91 billion was required to pay every 1% dividend rate for 2013. This was 10.06% higher compared with RM4.46 billion paid for every 1% dividend rate for 2012. The amount needed to pay a 1% dividend would continue to grow between 8%-9% annually.


The Fund’s total overseas exposure constituted 20.97% of its total investment assets based on book value as at end December 2013, registering a rise from 16.98% the year before. During the year under review, the EPF had outsourced USD2.20 billion to the external fund managers for global equity mandates, while a total of RM2.25 billion and RM850 million were injected  into domestic fixed income and equity mandates respectively.

Friday, February 7, 2014

What determines the salary of employees

Have you wonder what determines the salary of employees?

In my point of view, the lower limit of the salary is the price offered by employer so that the employee will stay put with the company, and the upper limit is the cost of the company to remain competitive in the business.

If the salary is on the low side compared with market rate, the employee will have a lot of options, including:

  • to join another employer who offer a better package
  • to self-employ
  • to stay at home
If the employer is paying a high salary, the cost of maintaining the company will be high, and that need to be compensated with either one or more of the following:
  • to charge higher price for goods/services provided to customers
  • to tolerate a lower profit margin
  • to cut cost from existing operations
  • to get more customers and/or sell more goods/services to existing customers
If the company charge higher price to customers, the customers might have options to buy from another company, or just not to buy.

If the company tolerate a lower profit margin, that will bring down the net profit, and in turn, lower down the dividend to shareholders/investors.

If the company try to cut cost from existing operations, it might need to sacrifice the quality and/or quantity of goods/services produced, which in turn reduce the customers satisfaction level, and the customers might have options to buy from another company, or just not to buy.

So, it is a rule of thumb that salary cannot be too low, or else the employees will part away. At the same time, it cannot be too high until the business is unsustainable.

The salary is indeed directly related to the productivity of the employee. A productive employee will be able to help the company generates more quantity and quality of goods/services that is saleable to customers, which can realized into sales and profit.

So, its seems that the only feasible option for sustainability is "to get more customers and/or sell more goods/services to existing customers" which needs to be backed up by the productivity of the employees. If the employees are not productive enough, the employer will need to hire more employees, which will then share out the HR salary budget of the company.

The more productive employees deserve higher salary, because competitors are willing to pay for that to bring over the employees to work with them. The supply and demand in job market will naturally drive the salary of productive employees.

In the investment world, there is a common indicator called Price/Earning (P/E) ratio to evaluate the worthiness for investor to buy and hold a share. Perhaps in the mind of the employers, there is also a Salary/Productivity ratio to evaluate the worthiness for the company to employ and maintain the employee.

As an employee, if you want to have high salary, then you need to:
  • be productive
  • join a highly productive company that is very profitable (driven by its productivity)
If you are not very productive and get a high salary, the good time might not be for long. If your company is very profitable but not supported by productivity, the good time might also not be for long.

During the 80's when Dr. Mahathir just became the prime minister, Malaysia is on the right track by emphasizing on productivity to boost the nation's economy, particularly the GDP. It seems that the current government has completely lost track by intervening the pricing of certain goods/services (instead of letting the free competition supply-demand factor to drive the price), intervening the salary with minimum wage, intervening the supply-demand by imposing restrictions that is non-productivity related, etc. Is there any hope that we will be on the right track again, and who will be the long waited hero to put back the right track in place?


Friday, December 27, 2013

Auspicious and inauspicious dates for starting new job / post / assignment in 2014

For employees, especially those in leading/managing position, here is a list of auspicious dates  in 2014 for starting new job/post/assignment, including joining new company, which is produced based on the Chinese almanac Tong Shu.

There is only 1 auspicious date for this in 2014.
I also include the list of inauspicious dates in 2014 for starting new job/post/assignment, including joining new company.

The other dates are neutral.



It can be applied to first day reporting to new company/department/office/position, go for the post to lead/manage a new business unit/team/project/programme. It can also be applied to assuming new job position after promotion/restructuring/relocation exercise.

Bear in mind that although the Tong Shu is a compilation of Chinese astrology and calendaring studies gathering wisdom of thousands of years, we should use it wisely and rationally, but not be too superstitious on it.

You might probably be interested to also find out the auspicious dates in 2014 for:
You might probably be interested to also find out for:

Thursday, December 26, 2013

Auspicious dates for opening business in 2014

Here is the list of auspicious dates for opening business in year 2014, which is produced based on the Chinese almanac Tong Shu. It can be applied to new business opening, or reopening of business after a break/holiday. (Click the image to enlarge)


Bear in mind that although the Tong Shu is a compilation of Chinese astrology and calendaring studies gathering wisdom of thousands of years, we should use it wisely and rationally, but not be too superstitious on it.

You might probably be interested to also find out the auspicious dates in 2014 for:
You might probably be interested to also find out for:

Hint: Click on the "Older Posts" link to continue reading, or click here for a listing of all my past 3 months articles.