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Showing posts from February, 2016

Forbes Top 50 Malaysian's Richest Checklist - 2016

WLPbiz - fully credit to Forbes

Ten Things Never To Do On LinkedIn - by Liz Ryan (Forbes)

You could think of LinkedIn as a huge database or a research tool for job-seekers and business-developers. LinkedIn is certainly both of those things. You could think of LinkedIn as an online public square where people can post billboards about themselves and their services. You could also think of LinkedIn as a networking event that happens online and goes on forever. When you’re thinking about your interactions on LinkedIn in the context of a live networking event, you’ll quickly see that there are certain networking overtures that are more polite than others! You don’t want to be viewed as or labeled a rude networker, so be careful not to overstep the bounds of politeness on LinkedIn. Here are ten things never to do on LinkedIn: 1. Never send someone a connection invitation and then, the minute they join your network, send them a request for them to introduce you to someone they know. There is no better way to signal “You’re just a means to my end!” 2. Never ask people

Malaysia’s billionaire list shrinks from 16 to 12 for 2016 - Forbes

Malaysia’s rich list saw the number of billionaires shrink from 16 last year to 12 this year, according to Forbes Malaysia Rich List. The slowdown in China and the continuing political showdown in the capital also hurt business. And the worldwide oil-and-gas depression took a toll on the eight fortunes on the list tied to that industry, it said on Thursday. The result is that the cutoff for making the top 50 this year–$195 million–is the lowest since 2013. Last year it was $240 million. The top 10 richest in Malaysia are: 1) Robert Kuok; US$10 billion; 2) Ananda Krishnan; $7.4 billion; 3) Quek Leng Chan; $5.3 billion; 4) Teh Hong Piow; $4.65 billion; 5) Lee Shin Cheng; $4.6 billion; 6) Lim Kok Thay; $4.55 billion; 7) Yeoh Tiong Lay; $2.25 billion; 8) Lau Cho Kun; $1.55 billion; 9) Syed Mokhtar AlBukhary; $1.45 billion; 10) Surin Upatkoon; $1.15 billion The list was compiled using information obtained from the individuals, stock exchanges, anal

TNB signs PPA with Powertek - theStar

Tenaga Nasional Bhd (TNB) has signed a new power purchase agreement (PPA) with Powertek, a wholly owned subsidiary of 1Malaysia Development Bhd for an extension of three years ten months following a conditional letter of award by Energy Commission to Powertek in August 2015. “This new PPA governs the rights and obligations of both parties throughout the term of the extension and on the sale and purchase of all the capacity and the electrical energy generated by Powertek from its 434MW open-cycle power plant located at Telok Gong, Melaka,” TNB said in a filing with Bursa Malaysia. Three of the units in the Powertek Facility is scheduled to commence operations from March 1, 2016 until Dec 31, 2019 while, another unit is scheduled to commence operation from March 15, 2016 until Dec 31, 2019. TNB and Powertek had on Dec 10, 1993 executed an original PPA for the sale and purchase of all the capacity and the electrical energy generated by the Powertek facility in accordance with

Tips on how to conquer the fear of failure in business - Idris Jala

Innovative: Led by Ir Azhar Zainal Abidin, ProEight’s innovative core lies in its capability to reverse engineer and create products and solutions which are fit-for-purpose I have always been a proponent of winning the ‘game of the impossible’, a challenge that seems so back-breaking, when you think about it, you are discouraged from pursuing it. The goal may be related to personal or professional life or it may have to do with finding a solution to a very difficult problem. More importantly, knuckling down and getting the job done helps get rid of the fear of failure. It is no secret that I am always thrilled to hear game-changing ideas, especially among Malaysian companies, who innovate with intent, direction and purpose. This is why in the last Transformation Unplugged column, I expressed hope to see more our very own Malaysian “Usain Bolts” of business rising up to the challenge of becoming global players. Since then, two very enterprising Malaysian firms from my

Nestle expects 2016 to be challenging - theStar

(from left) Nestlé (M) Bhd Bhd managing director Alois Hofbauer, chairman Tan Sri Syed Anwar Jamalullail and executive director, finance & control Martin Peter Krügel, showcasing Nestlé’s range of products. KUALA LUMPUR: Nestlé (M) Bhd, which saw its net profit rose to RM99.78mil in the fourth quarter ended Dec 31, 2015, expects 2016 to be a challenging year, both locally and globally”. “Given the volatile economy, both locally and globally, 2016 is set to be a challenging year. Tough market conditions are expected to persist in the domestic business environment, particularly as consumer sentiment remains weak. However, as a company focused on forward-thinking long-term strategies, we are well-prepared for this demanding climate,” Nestlé managing director Alois Hofbauer said in a statement. “Nestlé remains positive on Malaysia’s prospects for the mid to long-term, while maintaining a cautious outlook for the short-term. Moving forward, we will continue with our balanced

Resorts World Genting redevelopment to cost RM10.4bil - theStar

The first offering under the RM10.38bil GITP, the First World Hotel, began operations in June last year. Genting Malaysia Bhd will double the capital investment under the Genting Integrated Tourism Plan (GITP), which involves redeveloping and transforming Resorts World Genting, from the earlier-announced RM5bil to an estimated RM10.38bil. The company said in a press statement that it would significantly expand and add new facilities under the 10-year GITP launched in December 2013. It said it would offer “an extensive and wide array of new and exciting entertainment options, unique to visitors from across the region.” The capital investment under Phase 1 of the GITP will increase from RM4bil to RM8.11bil, with total investment in the Twentieth Century Fox World theme park expected to exceed RM2bil. “Under this phase, the first-ever world-class branded Twentieth Century Fox World theme park will see a substantial increase in investment with more spectacular, thrilling and

The tea industry boss in love with the drink - BBC Article

Nirmal Sethia has been selling tea for more than 50 years "Tea is like a beautiful woman," says Nirmal Sethia. "You look for the deep characteristics. There's no need to concentrate on the appearance." For someone who has worked in the tea industry for more than 50 years, Anglo-Indian businessman Nirmal Sethia has lost none of his passion for the drink. Now in his 70s, he also still takes tea very seriously. "Tea is life," he says. "Tea is religion, tea is music." The co-founder and boss of upmarket brand Newby Teas, Mr Sethia's relationship with tea started in London after the end of World War Two. However, Mr Sethia, the son of a successful third-generation Indian businessman, initially just wanted to have fun in life. Looking back on his teenage years, he says: "I was a rebel. "I used to see all the boys smoking in London and wanted some of that. Smoking, and drinking, and girls looked exciting to me, eve

The 21-year-old building India's largest hotel network - BBC Article

Ritesh Agarwal built India's biggest chain of branded hotels before his 21st birthday One night, 18-year-old Ritesh Agarwal was locked out of his apartment in Delhi. It was an unfortunate minor incident that was to change his life. Forced to check into a hotel he found himself in a situation he had already experienced several times while travelling in India. "The receptionist was sleeping," he says. "Sockets did not work in the room, mattresses were torn apart, the bathroom was leaking, and at the end they wouldn't let me pay by card." "I felt if this was my problem, this had to be a problem for many travellers. Why can't India have a good standard of hotel rooms at a reasonable price?'' Oyo helps hotels smarten up to appeal to more discerning customers Four years later, at the age of 21, Mr Agarwal is now the founder and chief executive of Oyo Rooms - a network of 2,200 hotels operating in 100 cities across India - wit

How a rugby star swapped sport for coffee shops - BBC Article

Former Australian rugby union captain George Gregan As one of Australia's most recognised sportsmen, the sight of rugby union international George Gregan counting the number of commuters walking out of a busy Sydney railway station must have raised some eyebrows. This was back in 1998, one year before Mr Gregan helped the Wallabies to win the Rugby World Cup. At the time the scrum-half was at the peak of his physical powers, and earning a sizeable income from endorsements on top of his rugby salary. Yet there he was, a poster boy for Australian sport, calculating the number of people emerging from the morning rush-hour swell at Wynyard station near the Sydney Harbour Bridge and Opera House. Renowned as a great tactical mind on the rugby pitch, a player who always did his homework on his opponents, Mr Gregan was there that day to apply the very same principles to a new part of his life - setting up a business. Aware that his rugby career would not go on forever, Mr Gr

Vietnam's start-up queen (Ms. Thuy Truong) - BBC Article

non-niche Picture "When I work on something that I'm passionate about I really enjoy it, for me not working is actually a punishment." Thuy Truong, a young Vietnamese entrepreneur, is in a cafe in central Ho Chi Minh City pondering work-life-balance. "I only sleep four to five hours a day," says the 29-year-old. "I don't even have time to cope with jet lag. I don't believe in work-life balance." This outlook may explain why Ms Truong has set up three businesses in different industries - including creating what she claims is the first Vietnamese company to be bought by Silicon Valley - all before her 30th birthday. Frozen beginnings Despite being educated in the US Thuy Truong moved back to Vietnam after she graduated While born in Vietnam, Ms Truong was educated in the US after her family moved there in 2003. "Like many other parents in Vietnam, my parents believe that America offers better education, and my parents

How Jacqueline Gold made Ann Summers a respectable brand - BBC Article

Ms Gold's plans to improve Ann Summers met with some opposition at the beginning When Jacqueline Gold first proposed making UK lingerie and sex toys chain Ann Summers a lot more female friendly, she was rather taken aback by the reaction of one of the company's all-male directors. She says: " One board member threw down his pen and said 'this isn't going to work, women aren't interested in sex '. "Obviously it said a lot more about his sex life than it did about my idea." This exchange took place back in 1981 when Ann Summers, part of a wider adult entertainment business called Gold Group International (GGI), was just a four-store chain. GGI is still to this day owned by Ms Gold's father, David Gold, who is also the co-owner of West Ham Football Club. Ms Gold had joined the family firm in 1979, aged 19. After doing a number of basic admin jobs, her big idea was to try to transform the Ann Summers brand by setting up a new Tu

How to brew up a successful coffee business - BBC Article

If you want to succeed in the coffee business it helps to have been in the game for almost 130 years. Algerian Coffee Stores in the heart of London's Soho has been trading out of the same shop since 1887 and in terms of word-of-mouth reputation, it has one of the strongest in the city. "We don't really have to do advertising campaigns," explains Marisa Crocetta, 36, one of the directors at the business that has been in her family since 1948. "You build up a reputation and being an old shop you appear in tourist guides, and of course everyone visits Soho and that's how they find you." While Algerian Coffee Stores obeys the first golden rule of setting up a coffee business - find a great location - it has also nailed down the second essential ingredient; keeping the regulars coming back. This it does by offering one of the best takeaway cups of coffee in London. And at just £1.20 ($1.80) for a cappuccino it's one of the cheapest, too.

What is the impact of New York's new nail salon rules? - BBC Article

"I've been a disgruntled employee in my life and I don't want anyone to have that experience," says Nina Werman Valley, a high-end nail salon on a leafy street in Manhattan, is spacious and sleek, its whitewashed walls adorned with contemporary art. The salon has a loyal customer base of well-heeled New Yorkers willing to pay the higher-than-usual minimum fee of $30 (£19) for a manicure. Since she started the business in 2006, owner Nina Werman's approach to dealing with her employees has also set the salon apart. She pays her nail technicians more than the minimum wage, provides paid lunch breaks, training, overtime and sick pay as well as protective masks and gloves. "I want to retain my staff," says Ms Werman of her approach. "It takes a lot of money and time and emotional energy to hire and train a technician. I've been a disgruntled employee in my life and I don't want anyone to have that experience." It's