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Saturday, December 22, 2012

Regulate property management! Forum on Strata Management in Penang

IT is understandable for the Strata Management Act to attract much public interest. There are (or will soon be) more people living in high-rise strata properties than in landed properties, given the rapid urbanisation and rising land prices in Malaysia.
The issue of the Board of Valuers, Appraisers and Estate Agents (BVAEA) seeking to regulate property management is controversial. Since the BVAEA is a body under the Finance Ministry, isn’t it odd that the Finance Ministry rather than the Housing Ministry is trying to regulate property management?

Most people have a pretty good idea about the job of a property manager and would conclude that it is a generalist’s job.

There should not be too many restrictions attached to a generalist’s job, such as that of a sales manager or a supermarket manager.

The opinion of HBA honorary secretary-general Chang Kim Loong on the role of a property manager is a bit overstated.

Property managers are at all times employees of MCs and JMBs and never the other way round.

Lives and property worth millions of ringgit are the prime responsibilities of employers and not the employees.

It is an exaggeration to say that lives and property worth millions are being entrusted to property managers to care, control and manage.

However, it may be a good idea to regulate the property manager’s job, but it would be more appropriate if it came under a board in the Housing Ministry with input from engineers and architects.

It would be less appropriate to come under a board in the Finance Ministry, as property management has more to do with building than finance.

By A CONCERNED CITIZEN Kuala Lumpur

Forum on strata management


A SEMINAR on the Strata Management Bill 2012 as well as the Strata Titles (Amendment) Act 2012 will be held at Auditorium C and F, Level 5, Komtar, from 10am to 4pm on Jan 13.

Komtar assemblyman Ng Wei Aik said many people were unaware of the new bill’s contents, including how to handle strata management disputes.

“The bill provides better protection for property owners. It is important that they know their rights,” he said at a press conference.

He said lawyer Lee Khai would talk on the application of the Strata Management Bill while licensed land surveyor Chuang Kuang Han would talk on Strata Titles Application and Problematic Cases.

Registration fee is RM30 per person which includes buffet lunch and lecture notes.

The public, including management corporations, joint management bodies and residents associations are invited to attend.

For more details, contact Ng’s service centre at 04-2270215/017-4108914/012-4290163, fax 04-2278215 or e-mail dapkomtar308@gmail.com before Jan 8.

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An American-Made Business Model Has Less Success Overseas

For years, the titans of finance have held out the promise that they could export their business model overseas and mint billions in the process. Yet, there are increasing signs that global deal-making was always a myth.

If you’ve been anywhere near a Wall Street conference in the last five years, you know the drill. Deal makers bemoan the United States as a mature and overregulated economy. They talk about heading abroad, as emerging market economies leave us far behind. To listen to them, one might think the rest of the world was a paradise out of “Atlas Shrugged,” where capital flows and where private equity, investment banks and other investors can freely seek opportunities.

So what country is No. 1 in initial public offerings so far this year? Yes, it is the United States, according to Renaissance Capital, with 75 I.P.O.’s raising $39 billion in total. Compare this activity with China, where 41 I.P.O.’s raised just $8.1 billion.

M&AS

And in mergers and acquisitions? Again, it is the United States, with 53 percent of the worldwide deal volume, up from 51 percent from last year, according to Dealogic. For investment banks, this means that the United States has a 46 percent share of the $63 billion in worldwide investment banking revenue, up from 34.6 percent in 2009.

With the slowdown in once-hot emerging markets, the tide is going out, baring all of the problems and issues associated with global deal-making.

China is a prime example. Huge amounts of foreign and state investment produced an economic miracle. And in that time, wealth was there to be had.

But let’s be clear about where that wealth came from. In the United States, deal makers make money primarily by buying underperforming assets, adding some financial wizardry and riding any improvements in the stock market. Sometimes, they get lucky by making a quick profit, but often private equity works to squeeze out inefficiencies and make operating improvements in companies and then takes them public a few years later.

China's situation

In China, what increasingly appears to have been a stock market and asset bubble spurred by hundreds of billions in direct investment has created some spectacular early profits for deal makers. The private equity firm Carlyle Group, for example, has made an estimated $4.4 billion on an investment in China Pacific Insurance, which it took public on the Hong Kong Stock Exchange.

But now, with the Chinese I.P.O. market at a virtual standstill and the Shanghai market down more than 30 percent from its high last year, that avenue to riches is over. People are starting to say that investment in China resembles a “No Exit” sign.

Deal makers are left with a back-to-basics approach that looks to make money from companies through economic growth or improving their performance. Yet most of these investments are made with state actors and minority positions, meaning that there may be little opportunity to actually do anything more than sit and wait and hope. And you know what they say about hope as a strategy.

It appears that deal makers are starting to realize the problem. Foreign direct investment in China was down 3.67 percent from last year to $9.6 billion, and it is likely to remain on a downward trend.

And China has been among the friendliest places for deal makers. Other emerging markets have been less accommodating. Take India, which has been criticized for excessive regulation, high taxes and ownership prohibitions. David Bonderman, the head of the private equity giant TPG Capital, recently said that “we stay away from places that have impossible governments and impossible tax regimes, which means sayonara to India.”

Foreign issues

The comment about India highlights another problem with foreign deal-making: it’s foreign. Sometimes, the political winds change and local governments that initially welcomed investment change their minds.

South Korea, for example, invited foreign capital to invest in its battered financial sector after the Asian currency crisis. But when Lone Star Investments was about to reap billions in profits on an investment in Korea Exchange Bank, a legal battle almost a decade long erupted as Korean government officials accused the fund of vulture investing.

And the political problems are sometimes not directed at foreign investors. South Africa, for example, is undergoing the kind of political turmoil that can stop all foreign investment in its tracks over treatment of its workers and continuing income inequality. Things are not much better in the more mature economies.

Economic doldrums

Europe is in the economic doldrums, and its governments are increasingly protectionist of both jobs and industry. France, for example, recently threatened to nationalize a factory owned by ArcelorMittal, which sought to shut down two furnaces.

The national minister said the company was “not welcome.” It’s hard to see a deal maker profiting from buying an inefficient enterprise that it can’t clean up without risking national censure.

Buying at a low is the lifeblood of any investment strategy — but this assumes that there will be an uptick, and on the Continent, that is uncertain given the state of Greece and the other indebted economies in Southern Europe.

This is all a far cry from the oratory vision-making at conferences. Now that the global gold rush has ended, the belief that the American way of doing deals is portable is being upended.

Fragmented world

We are left with a fragmented world where capital moves not so freely, the problems of politics and regulation are more prominent and investing in emerging markets becomes what it always has been: the province of more specialized investors who are in tune with the political and regulatory requirements. Regardless, the easy riches that many thought these countries would bring are now far out of sight.

And the winner in all of this is likely to be the much-maligned United States, where the economic conditions and regulatory environment first gave birth to these deal makers.

This is not to say that there will still not be global deal-making or that American multinationals will not continue to expand abroad. Of course, there will still be profits in deals overseas. But the vision that deal-making will instantly and seamlessly go global is increasingly exposed as one that was more a fairy tale than reality.- IHT/NYT

Steven M. Davidoff, a professor at the Michael E. Moritz College of Law at Ohio State University, is the author of “Gods at War: Shotgun Takeovers, Government by Deal and the Private Equity Implosion.” E-mail: dealprof@nytimes.com | Twitter: @StevenDavidoff

Friday, December 21, 2012

How to ask for a pay rise and get a bonus?

Successful ways to get an increment or bonus - Do not be boastful about your achievements or downplay the role of your colleagues


IT'S now December and year-end is just round the corner. It's also time for reflection about what you have achieved in your current job and what your plans are for next year in terms of your career path.

Taking some time to make such plans is a great way to ensure that you have set yourself in the right direction and how a well-crafted road map can lead you to your outcomes or objectives.

As with every plan, you need to give yourself some private time to set your thoughts in the right direction. Start with choosing a quiet place and give yourself ample time to relax and focus on how the current year has been and what lies ahead that you wish to see happening. Let's look at how you can successfully ask for a pay rise from your bosses if you had met and exceeded your targets and agreed KPIs.

  • >Current year reflection is a measure of your achievements
You will need to execute a list which contains information (in bullet points may be sufficient) of the scope of work that you have done during this year and what were the results.
  • >Crafting the list of achievements for the year
Start on a monthly overview e.g. January before you proceed to February. That way, you will not miss out any important information for that list. Have the list in a format which details the following in its respective columns:
  • >Month
a. From January till November or December if you can already predict the results or outcome.
  • >Projects and assignment
a. Note that it cannot be your daily task of following up on calls to clients but must be a sales lead that translated to an actual sales win
b. It can be a group project or one which you did individually
  • >People involved
a. If it was a group project, list down the names of your colleagues for clarity
b. List down your role in the project e.g. principal driver or customer liaison person, risk analyst planner (your actual role in the group)
  • >Timelines/cost involved
a. Duration from start to completion of project or assignment e.g. weeks or months
b. It could even be completed in a few days time
c. If there were cost investment required which is beyond the time spent on carrying out this programme, place the cost into the column e.g. marketing budget of RM12,000.
  • >Objective of the project and assignment
a. What needed to be achieved from this project before it was kick-started
b. What were the challenges or issues that were required to be resolved?
c. What was the sales target in terms of revenue that needed to be realised?
  • >Outcome/results achieved
a. The return-on-investment is critical in this column
b. List down the measurable results to be effective e.g.
i. If time was an essence, completion within or earlier than the duration expected or given
ii. If revenue was the outcome, place the amount/value into your outcomes
iii. If cost savings was involved, list down the amount /value saved
  • >Conclusion
Chart a simple graph to show your progress on a month-to-month basis based on the agreed KPIs and where you are at now. If you have been with the company for more than two years, create a comparison analysis on your year-to-year progress to showcase your growth. Charts or graphs are easier to read and it gives a clear overview of the results quickly.

What is very important is that the information in that list must be real and a true reflection of what was achieved. Do not list down information which you cannot prove or which is untrue. Be mindful that it's not about having a long grocery list but a list which is impactful in terms of outcomes and results. If there was nothing significant in that month, go to the next month and only list the effective and efficient details in your list.

If your company does not have a performance review/appraisal fixed for year-end, set an appointment with your immediate boss to have that discussion. Be proactive in your approach.

During the discussion, have an open mind that your list may be challenged. Approach your discussion with your boss on a professional manner and never argue your points.

Be diplomatic and highlight the points that you have in your list. Reaffirm your points with facts and in some cases, walk your boss through how it was achieved and the process that was involved.

You may not be the only subordinate your boss has, so, he may not recall each and every project of all his subordinates or the results attached to it. It is advisable to have the discussion with a state of mind that you are showcasing your achievements and not out to prove your boss wrong or to boast of your achievements.

If you know that you have achieved many milestones and have been a star performer, always be humble in your demeanour. Do not be boastful about your achievements or downplay the role of your colleagues on any group projects.

Group projects are always achievable as a result of teamwork no matter how small a role someone else plays. It would be good to share credit on some of the successes by naming some colleagues who had played a critical part in your project list. This reflects your maturity and openness to share credit where it's due. It also shows that you have leadership qualities and values teamwork.

When you ask for a pay rise, you also need to be mindful of the company's performance for the year. Ask yourself if the company has achieved better performance results compared to last year as a benchmark or if your company has achieved the performance results/profits that was targeted at the start of the year based on your CEO/management's direction for the year.

Look internally at your achievement and do a quick Conclusion (as per the list requirements above) on your progress month on month and if possible, compare that with last year's progress. If your company has suffered losses this year, generally it is advisable not to ask for a pay rise. Employees who show loyalty to a company during challenging times will be valued and there are also other ways to measure how the company and its management treat you beyond the pay rise; rewards and recognition (extra annual leave, awards),
good health plan, training and development programme which provided upskilling and personal growth.

Do some research on salary ranges before asking for a pay rise as your pay rise needs to be realistic and based on market rate. Never ask for a pay rise that is unreasonable or which you know the company cannot agree to. Be willing to accept a compromise during the discussion and open yourself to different solutions offered by the company.

As much as we wish to have what our heart desires, there are times we have to face the reality of rejection. If you are successful in getting that pay rise, congratulations but to those who are not successful, do not accept it as a failure or an end to a means.

Things happen for a reason and it may be a call for you to take charge of your own achievements, on your skill sets and, at times, it may be reasons beyond your control such as the company's poor performance as a whole.

Talking HR with Melissa Norman
 Melissa feels that those who invest in their careers do not view salary as the only priority but the job satisfaction and meaningful friendships forged with colleagues and bosses as critical aspects for long-term career fulfilment.

Reading opens up minds

BACK in my first year when I was asked to read cases by my professor, my immediate reaction was to ask how many pages were there to read.

My professor replied: “There’s no harm reading more.”

I also remember attending a scholarship interview where I was asked to give an account of the books I had read.

Proudly I answered: “I did not read any books besides the academic textbooks.”

It is really depressing and shameful that I took pride of my disinterest towards the habit of reading.

This may appear unusual for a law student like me to recount such a disinterest but I am afraid to say that many of my fellow Malaysian friends share such a disinterest, too.

Many students read for the sake of passing their examinations. Many spend time on computer games and working adults may find it tiring to read outside working hours.

As for myself, I turned impatient, disappointed, annoyed and even regretted choosing law as I later found out that I had to read hundreds of pages of cases every week (putting aside the textbooks, commentaries and other journal articles).

Over the years while in law school, I cultivated the habit of reading.

It was hard at the beginning when I had to flip through the dictionary to check the meaning of the words I did not understand, that I lost patience reading the countless pages of books and needless to say I shed many tears in my struggle to finish my law studies.

However, one thing I can assure you is that the sufferings bore fruit. Indeed, they were rewarding. I am no longer sheltered and ignorant.

My general knowledge and vocabulary have increased and with it, my ability to communicate. With the increased knowledge, I can voice an opinion if needed.

The habit of reading opened up my mind that I am now able to see things more objectively than before.

The treasure of knowledge also taught me to keep an open mind and not to accept another’s views blindly.

Reading news and non-fiction illuminates the world for us and reading fiction gives us what non-fiction cannot.

Through reading we travel and through books we find treasures. In those wanderings we find humanity, through the characters we find knowledge.

As how human beings need to be fed, knowledge serves as nourishment for our minds.

Reading opens up the door of knowledge, an important treasure for our country to achieve the 2020 Vision.
So, I urge all of you to cultivate the habit of reading, for yourselves and our country.

JUNE LOH Kulim, Kedah

Thursday, December 20, 2012

Get rid of illegal casinos gambling now !

SINGAPORE: Police have arrested five men in a raid on an illegal gambling den in a private apartment at Geylang Road.

I REFER to “Bet illegal casinos can be weeded out” (see below). They should not be allowed to thrive. They are a nuisance and must go.

I hope the enforcement agencies work on this immediately. Stop giving excuses that this cannot be done.

Such nefarious ways and activities must be put to an end. Have the political will to do so and we will see to their demise.

What is also shocking is how illegal massage parlours, budget hotels, nightclubs, pubs, video arcades and other unhealthy businesses have cropped up of late?

Did the state governments give permission for them to operate? Whatever it is, please see to it that they stop functioning.

Their presence is bad. Trust me, nothing good comes from casinos and gambling.

Gambling is addictive and leads to compulsive gambling problems and unhealthy obsessions; it promotes crime, sin, stupidity, laziness, arrogance, greed, selfishness, entitlement and neglect of one’s family, among others.

BULBIR SINGH  Seremban

Bet illegal casinos can be weeded out

IT is known as the street that never sleeps. And for all the wrong reasons.

Because of the proliferation of gambling outlets, businesses along the same street, both legal and illegal, operate non-stop to cater to the demands of the gamblers.

In another part of the Klang Valley, one road is regarded as the hottest gambling spot in town, with 20 outlets along a single stretch.

The Star's investigation into the e-gambling dens in Klang, Selayang, Batu Caves, Kepong and Petaling Jaya reveal that these casinos in the streets thrive because the authorities turn a blind eye to what is going on under their jurisdictions.

Enforcement is lax even when these outlets in highly-popular zones are so easily identified.

We are not talking about illegal activities that operate in the boondocks, where their locations are tightly-kept secrets and you may need special passwords to gain access.

As our expose today on similar outlets in Penang reveals, we are talking about such illegal activities in two of the most developed states in the country.

The local authorities and enforcement agencies are certainly well-equipped to deal with situations like these.

The modus operandi seems simple enough. By day, they are typical business outlets, but by night they transform into bustling gambling dens.

The enforcers should be working round the clock to close them down.

The real action happens after dark, when not only gamblers head to these places, but also others seeking other services, like sex, to unwind after a hard day's work.

One law enforcement official claims that the operators of the illegal e-casinos play “hide-and-seek” with the authorities and often disappear before raids are conducted.

Meanwhile, the local authorities claim that they cannot do anything about the rising gambling menace either because the residents do not complain officially or that the other enforcement agencies are not doing their part.

While that may be the case, such scenarios are common and should not be used as an excuse not to take the necessary action.

The enforcement officials can station themselves in these areas.

The licensing authorities can shut down even the legitimate businesses in the daytime if they have evidence that they are being used for illegal activities at night.

Rather than blame one another over the lack of action, everyone can, and should, work as a team to ensure that our streets come alive, in the day or at night, for only the right reasons.

Otherwise, casinos in the streets will simply spawn crime in the streets.

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