JOHOR BAHARU, 5 Feb (Bernama) --Unit Peneraju Agenda Bumiputera
(TERAJU), Jabatan Perdana Menteri menyasarkan untuk menyenaraikan tiga
syarikat Bumiputera di bursa saham pada tahun ini.
Source from (Bernama): http://www.bernama.com/bernama/v6/bm/newsbusiness.php?id=926154
Published: February 06, 2013
Ketua eksekutifnya Husni Salleh berkata, tiga syarikat itu merupakan
tambahan kepada tujuh syarikat Bumiputera yang telah berjaya
disenaraikan sejak TERAJU dilancarkan pada 2 Feb 2011.
Tujuh syarikat Bumiputera yang disenaraikan itu memiliki jumlah nilai modal keseluruhan sebanyak RM970 juta.
"Pada tahun ini kita harapkan untuk menyenaraikan tiga buah syarikat
Bumiputera menerusi Skim Jejak Jaya TERAJU," katanya kepada pemberita
selepas menghadiri majlis perasmian Jejak TERAJU Iskandar Malaysia di
Pusat Konvensyen Persada Antarabangsa Johor di sini, Selasa.
Majlis Jejak TERAJU Iskandar Malaysia itu telah dirasmikan oleh Menteri
Besar Datuk Abdul Ghani Othman dan turut dihadiri Ketua Eksekutif Pihak
Berkuasa Wilayah Pembangunan Iskandar Datuk Ismail Ibrahim.
Menurut Husni, pihaknya telah mengenal pasti 30 syarikat Bumiputera yang
berpotensi untuk disenaraikan di bursa saham dan akan terus membantu
mereka mencapai matlamat untuk disenaraikan.
-- BERNAMA
Wednesday, February 6, 2013
Perils of misselling banking products to the SMEs
THE accountability of bankers is being put to the test as the four large
banks in Britain prepare to pay hefty fines for the misselling of
products to small businesses.
Source from (The Star Online): http://biz.thestar.com.my/news/story.asp?file=/2013/2/6/business/12674077&sec=business
Published: February 06, 2013
One can no longer escape by claiming that as the buyer had signed on the dotted line, the buyer was, therefore, entirely liable for the losses. The little guy can now turn around and have recourse to complain that he had been missold a certain banking product without proper understanding, causing him severe financial difficulties in the process.
In this case, the Financial Services Authority (FSA) has stepped in to say that Barclays, HSBC, the Royal Bank of Scotland (RBS) and Lloyds had missold complex insurance products to small businesses, according to The Guardian.
An estimated 40,000 so-called interest rate swaps could have been missold by banks, which are reviewing the extent of the misselling, which started back in 2001, the report added.
This is not the first case of misselling. Following the misselling of payment protection insurance, banks have paid more than £10bil (RM48.59bil) in compensation and administrative costs, reported The Guardian.
They are also conducting an inquiry into the full extent of the Libor interest rate setting crisis.
Small business lobby groups have warned that businesses would be made bankrupt unless the regulator insisted on a speedy resolution, wrote The Guardian.
According to the report, the products were marketed as low-cost protection against rising interest rates, often as a condition of a business loan, but leaving firms facing huge bills if rates fell.
Firms also faced hefty penalties to get out of the deals, which many said they were not told about.
The FSA has found that, in the 173 test cases examined, more than 90% of sales did not comply with at least one or more regulatory requirements, said The Guardian.
Three of Britain's biggest banks Barclays, HSBC and RBS have already set aside about £630mil to cover the cost of potential misselling claims.
Allied Irish Bank, Bank of Ireland, Clydesdale and Yorkshire banks, Co-operative Bank and Santander will hear in the next couple of weeks whether they have also to conduct reviews.
Banks have been working with the FSA to begin the compensation process and have launched pilot reviews of some 200 alleged cases to assess if misselling had taken place and the potential compensation, said The Guardian further.
The regulator seems to be casting its eagle eye on almost every angle of the banks' businesses.
Heavy fines have been imposed on earlier accusations of money laundering and support of drug barons and terrorists.
This wave of misselling points to a very basic principle that both banks and consumers should not get involved in products they themselves hardly understand.
It does not look good on the consumer, when faced with difficulties, to go whining to the authorities that he had not been informed of certain things about the product.
On the other hand, it looks bad on the banks that had sold these products when they cannot answer certain pertinent questions from the authorities regarding the products.
Over the years, there has been an increasing focus on small and medium scale businesses or SMEs, which are supposed to be getting more sophisticated with a better understanding of hedging.
From the way things are going, that has hardly happened and many could have bought these interest rate swaps blindly, not knowing the full implications of the product.
In their eagerness to push products and ride on the timing, some banks could have become careless and not explained the implications fully to the consumer.
They could have also slipped on certain regulatory requirements, making themselves an easy prey for fines. Misselling of interest rate swaps may not be the last wave in consumer protection, especially in the current season of redress.
All it takes is for some other consumer to complain that he had been short-changed and the investigations will follow.
It is, thus, a time to tread very carefully, even though what has been done before cannot be undone.
Columnist Yap Leng Kuen is reminded that time and tide waits for no man.'
Source from (The Star Online): http://biz.thestar.com.my/news/story.asp?file=/2013/2/6/business/12674077&sec=business
Published: February 06, 2013
One can no longer escape by claiming that as the buyer had signed on the dotted line, the buyer was, therefore, entirely liable for the losses. The little guy can now turn around and have recourse to complain that he had been missold a certain banking product without proper understanding, causing him severe financial difficulties in the process.
In this case, the Financial Services Authority (FSA) has stepped in to say that Barclays, HSBC, the Royal Bank of Scotland (RBS) and Lloyds had missold complex insurance products to small businesses, according to The Guardian.
An estimated 40,000 so-called interest rate swaps could have been missold by banks, which are reviewing the extent of the misselling, which started back in 2001, the report added.
This is not the first case of misselling. Following the misselling of payment protection insurance, banks have paid more than £10bil (RM48.59bil) in compensation and administrative costs, reported The Guardian.
They are also conducting an inquiry into the full extent of the Libor interest rate setting crisis.
Small business lobby groups have warned that businesses would be made bankrupt unless the regulator insisted on a speedy resolution, wrote The Guardian.
According to the report, the products were marketed as low-cost protection against rising interest rates, often as a condition of a business loan, but leaving firms facing huge bills if rates fell.
Firms also faced hefty penalties to get out of the deals, which many said they were not told about.
The FSA has found that, in the 173 test cases examined, more than 90% of sales did not comply with at least one or more regulatory requirements, said The Guardian.
Three of Britain's biggest banks Barclays, HSBC and RBS have already set aside about £630mil to cover the cost of potential misselling claims.
Allied Irish Bank, Bank of Ireland, Clydesdale and Yorkshire banks, Co-operative Bank and Santander will hear in the next couple of weeks whether they have also to conduct reviews.
Banks have been working with the FSA to begin the compensation process and have launched pilot reviews of some 200 alleged cases to assess if misselling had taken place and the potential compensation, said The Guardian further.
The regulator seems to be casting its eagle eye on almost every angle of the banks' businesses.
Heavy fines have been imposed on earlier accusations of money laundering and support of drug barons and terrorists.
This wave of misselling points to a very basic principle that both banks and consumers should not get involved in products they themselves hardly understand.
It does not look good on the consumer, when faced with difficulties, to go whining to the authorities that he had not been informed of certain things about the product.
On the other hand, it looks bad on the banks that had sold these products when they cannot answer certain pertinent questions from the authorities regarding the products.
Over the years, there has been an increasing focus on small and medium scale businesses or SMEs, which are supposed to be getting more sophisticated with a better understanding of hedging.
From the way things are going, that has hardly happened and many could have bought these interest rate swaps blindly, not knowing the full implications of the product.
In their eagerness to push products and ride on the timing, some banks could have become careless and not explained the implications fully to the consumer.
They could have also slipped on certain regulatory requirements, making themselves an easy prey for fines. Misselling of interest rate swaps may not be the last wave in consumer protection, especially in the current season of redress.
All it takes is for some other consumer to complain that he had been short-changed and the investigations will follow.
It is, thus, a time to tread very carefully, even though what has been done before cannot be undone.
Columnist Yap Leng Kuen is reminded that time and tide waits for no man.'
Tuesday, February 5, 2013
GE survey: 88% of M'sian execs value innovation and believe SMEs can be as innovative as large companies
KUALA LUMPUR: Malaysian business executives of companies averaging 1,200
employees cite innovation as both a driver and challenge for growth,
and are more supportive of innovation compared with the global average,
findings show in the 2013 General Electric (GE) Global Innovation
Barometer.
Source from (The Star Online): http://biz.thestar.com.my/news/story.asp?file=/2013/2/5/business/12670232&sec=business
Published: February 05, 2013
Conducted last quarter, the research was based on interviews with 3,100 senior business executives across 25 countries via telephone.
44% of Malaysian respondents - in contrast to the global average of 30% - expressed that innovation would result in greater competition that would make the overall environment more challenging, GE Asean chief executive officer Stuart Dean said at a press conference yesterday.
This is the first time that Malaysia is included in the conglomerate's Global Innovation Barometer, which is in its third year.
“All our big infrastructure businesses are in this country,” Dean explained.
“The Barometer provides valuable insight into the minds of these executives and what they view as the opportunities and gaps in creating an innovative and sustainable business model in line with Malaysian's aim towards becoming a high-income nation by 2020,” he added.
The survey also revealed that 85% of Malaysian businesses are increasingly looking at collaborative innovation, while over 88% believe that SMEs and individuals can be as innovative as large companies.
The Barometer identified the existence of barriers to collaborative innovation attributed to issues like the lack of effective Internet Protocol (IP) protection and confidentiality, trust issues and the poaching of talent and knowledge.
“There were some concerns as to the effective collaborations between companies and universities to produce innovative thinkers.
“This is an area that needs looking into,” Dean said.
With regards to GE's business outlook in Malaysia, Dean confirmed that there will be new investments in the following sectors this year - power generation, aviation, oil and gas, healthcare and transportation.
“Especially in the aviation and power generation industries,” Dean said. “We expect revenues in all our businesses to increase this year.”
Source from (The Star Online): http://biz.thestar.com.my/news/story.asp?file=/2013/2/5/business/12670232&sec=business
Published: February 05, 2013
Conducted last quarter, the research was based on interviews with 3,100 senior business executives across 25 countries via telephone.
44% of Malaysian respondents - in contrast to the global average of 30% - expressed that innovation would result in greater competition that would make the overall environment more challenging, GE Asean chief executive officer Stuart Dean said at a press conference yesterday.
This is the first time that Malaysia is included in the conglomerate's Global Innovation Barometer, which is in its third year.
“All our big infrastructure businesses are in this country,” Dean explained.
“The Barometer provides valuable insight into the minds of these executives and what they view as the opportunities and gaps in creating an innovative and sustainable business model in line with Malaysian's aim towards becoming a high-income nation by 2020,” he added.
The survey also revealed that 85% of Malaysian businesses are increasingly looking at collaborative innovation, while over 88% believe that SMEs and individuals can be as innovative as large companies.
The Barometer identified the existence of barriers to collaborative innovation attributed to issues like the lack of effective Internet Protocol (IP) protection and confidentiality, trust issues and the poaching of talent and knowledge.
“There were some concerns as to the effective collaborations between companies and universities to produce innovative thinkers.
“This is an area that needs looking into,” Dean said.
With regards to GE's business outlook in Malaysia, Dean confirmed that there will be new investments in the following sectors this year - power generation, aviation, oil and gas, healthcare and transportation.
“Especially in the aviation and power generation industries,” Dean said. “We expect revenues in all our businesses to increase this year.”
52 siswa tani sahut cabaran
Biarpun bergelar usahawan tani, gaya ditampilkan 52 peserta Program Inkubasi Usahawan Tani Universiti Putra Malaysia (UPM) 2013 cukup segak laksana tokoh korporat berjaya.
br />
Source from (Harian Metro): http://www.hmetro.com.my/articles/52siswatanisahutcabaran//Article
Published: February 05, 2013
Memakai pakaian rasmi hitam merah, mereka tampak yakin dengan bidang pilihan, sekali gus mahu membuktikan sektor pertanian mampu memberi pulangan lumayan.
Mereka adalah peserta fasa kedua program itu bagi membantu melahirkan usahawan tani di kalangan generasi muda terutama graduan institusi pengajian tinggi (IPT).
Minat mendalam menceburi bidang pertanian menjadi faktor kepada pemilihan peserta terbabit yang melalui proses saringan ketat.
Daripada 300 peserta, hanya sebahagian kecil saja terpilih selepas lulus ujian psikometrik dan temu duga.
Julung kalinya mereka ditemukan secara rasmi de–ngan media sempena Majlis Pelancaran Program Inkubasi Usahawan Tani 2013 di Dewan Pertanian, Fakulti Pertanian di UPM Serdang, baru-baru ini.
Perasmian dilakukan Naib Canselor UPM Prof Datuk Dr Mohd Fauzi Ramlan.
Dekan Fakulti Pertanian UPM Prof Dr Abdul Shukor Juraimi berkata, Program Inkubasi Usahawan Tani berbentuk latihan dan keusahawanan selama enam bulan.
“Program ini disediakan untuk graduan dengan kelayakan minimum diploma.
“Program ini dizahirkan menerusi peruntukan disediakan Kementerian Pengajian Tinggi (KPT) berjumlah RM3.8 juta,” katanya.
Dr Abdul Shukor berkata, objektif program itu bagi melahirkan siswa tani yang cemerlang dan berwibawa, selain bersedia melaksanakan projek pertanian selepas tamat berkursus.
“Objektif lain adalah melahirkan graduan yang mempunyai atribut keusahawanan pertanian berkaitan bidang pertanian merangkumi aspek pengeluaran, pemprosesan dan perniagaan tani.
“Program ini juga ‘pakatan strategik’ dengan sektor awam dan swasta bagi melahirkan usahawan tani berjaya.
“Ia juga menjadi penghubung bagi penempatan graduan UPM berkaitan pertanian untuk mengikuti latihan usahawan di institusi dalam dan luar negara,” katanya.
Katanya, UPM akan menjadi pusat rujukan sehenti berkaitan pembangunan usahawan tani.
“Program ini adalah selaras dengan matlamat keempat Pelan Strategik UPM 2011- 2013 yang dilancarkan pada akhir tahun lalu.
“Matlamat itu untuk memperkasakan UPM sebagai pusat kecemerlangan pendidikan, penyelidikan dan perkhidmatan pertanian serta biosumber tropika,” katanya.
Program siri pertama dilancarkan pada Februari tahun lalu mencapai matlamat selepas 35 peserta yang menyertai tiga modul menamatkan program mereka.
Katanya, daripada jumlah itu, 16 peserta terbabit dalam bidang keusahawanan pertanian termasuk penternakan ikan tilapia, penanaman rock melon secara fertigasi dan baja kompos.
“Sebanyak lapan syarikat turut dibuka membabitkan persendirian dan perkongsian dalam kalangan peserta,” katanya.
Paling membanggakan salah satu syarikat ditubuhkan iaitu Syarikat Gemilang Agrobiz Enterprise menerima Anugerah ‘Best Student Enterprises 2012’ anjuran KPT pada 5 Disember lalu dan menerima piala dan wang tunai RM20,000.
Katanya, semua lapan syarikat yang ditubuhkan kumpulan pelajar berkenaan menerima pinjaman disediakan Agrobank dan Tabung Ekonomi Kumpulan Usaha Niaga (TEKUN).
“Program ini menerima pengiktirafan Kementerian Pertanian dan Industri Asas Tani dengan perjanjian turut dimeterai antara UPM dengan Lembaga Pemasaran Pertanian Persekutuan (FAMA) pada 15 Julai lalu.
“Menerusi kerjasama ini, semua ahli kelab MyAgrosis kumpulan pertama dikehendaki menyertai Program Inkubasi Usahawan Tani sebelum layak memulakan perniagaan,” katanya.
Kini, enam modul kursus ditawarkan kepada peserta program seperti tanaman rock melon, akuakultur, ternakan ayam kampung, perkhidmatan makanan, modul perdagangan dan ekopelancongan.
“Pada masa sama, usaha memantapkan jati diri peserta dilakukan dengan mengadakan satu program ‘team-building’ anjuran bersama UPM dan Biro Tata Negara bermula 7 hingga 9 Januari lalu.
“Diharap program seperti ini dapat memupuk disiplin dan kerjasama dalam kalangan peserta program supaya dapat terus berjaya dan menjadi usahawan berjaya,” katanya.
Pengarah Projek Inkubasi Usahawan Tani UPM, Sahbani Saimin berkata, kerjasama terjalin antara agensi kerajaan dan swasta memudahkan peserta mendapatkan modal pinjaman awal serta lokasi perniagaan.
“Sebanyak lapan syarikat menyokong projek ini dengan memberi tempat atau menyewakan tanah mereka kepada peserta atau berkongsi perniagaan,” katanya.
Katanya, ada baiknya peserta kursus meneruskan proses pembelajaran dengan syarikat swasta terutama dalam mendapatkan bantuan teknikal dan pengalaman.
“Sepanjang enam bulan mengikuti modul disediakan, dua bulan daripadanya dikhususkan untuk peserta mempelajari teori berkaitan ilmu keusahawanan, pelan perniagaan dan cara membuat persembahan di depan panel.
“Mereka juga diajar me–ngenai skil komunikasi yang diperlukan dalam menjalinkan kerjasama pada masa depan,” katanya.
Baki empat bulan kursus pula banyak ditumpukan kepada latihan amali.
“Sepanjang tempoh berkursus setiap peserta menerima elaun khas, RM1,000 sebulan, selain makan dan minum serta tempat penginapan,” katanya.
Source from (Harian Metro): http://www.hmetro.com.my/articles/52siswatanisahutcabaran//Article
Published: February 05, 2013
Memakai pakaian rasmi hitam merah, mereka tampak yakin dengan bidang pilihan, sekali gus mahu membuktikan sektor pertanian mampu memberi pulangan lumayan.
Mereka adalah peserta fasa kedua program itu bagi membantu melahirkan usahawan tani di kalangan generasi muda terutama graduan institusi pengajian tinggi (IPT).
Minat mendalam menceburi bidang pertanian menjadi faktor kepada pemilihan peserta terbabit yang melalui proses saringan ketat.
Daripada 300 peserta, hanya sebahagian kecil saja terpilih selepas lulus ujian psikometrik dan temu duga.
Julung kalinya mereka ditemukan secara rasmi de–ngan media sempena Majlis Pelancaran Program Inkubasi Usahawan Tani 2013 di Dewan Pertanian, Fakulti Pertanian di UPM Serdang, baru-baru ini.
Perasmian dilakukan Naib Canselor UPM Prof Datuk Dr Mohd Fauzi Ramlan.
Dekan Fakulti Pertanian UPM Prof Dr Abdul Shukor Juraimi berkata, Program Inkubasi Usahawan Tani berbentuk latihan dan keusahawanan selama enam bulan.
“Program ini disediakan untuk graduan dengan kelayakan minimum diploma.
“Program ini dizahirkan menerusi peruntukan disediakan Kementerian Pengajian Tinggi (KPT) berjumlah RM3.8 juta,” katanya.
Dr Abdul Shukor berkata, objektif program itu bagi melahirkan siswa tani yang cemerlang dan berwibawa, selain bersedia melaksanakan projek pertanian selepas tamat berkursus.
“Objektif lain adalah melahirkan graduan yang mempunyai atribut keusahawanan pertanian berkaitan bidang pertanian merangkumi aspek pengeluaran, pemprosesan dan perniagaan tani.
“Program ini juga ‘pakatan strategik’ dengan sektor awam dan swasta bagi melahirkan usahawan tani berjaya.
“Ia juga menjadi penghubung bagi penempatan graduan UPM berkaitan pertanian untuk mengikuti latihan usahawan di institusi dalam dan luar negara,” katanya.
Katanya, UPM akan menjadi pusat rujukan sehenti berkaitan pembangunan usahawan tani.
“Program ini adalah selaras dengan matlamat keempat Pelan Strategik UPM 2011- 2013 yang dilancarkan pada akhir tahun lalu.
“Matlamat itu untuk memperkasakan UPM sebagai pusat kecemerlangan pendidikan, penyelidikan dan perkhidmatan pertanian serta biosumber tropika,” katanya.
Program siri pertama dilancarkan pada Februari tahun lalu mencapai matlamat selepas 35 peserta yang menyertai tiga modul menamatkan program mereka.
Katanya, daripada jumlah itu, 16 peserta terbabit dalam bidang keusahawanan pertanian termasuk penternakan ikan tilapia, penanaman rock melon secara fertigasi dan baja kompos.
“Sebanyak lapan syarikat turut dibuka membabitkan persendirian dan perkongsian dalam kalangan peserta,” katanya.
Paling membanggakan salah satu syarikat ditubuhkan iaitu Syarikat Gemilang Agrobiz Enterprise menerima Anugerah ‘Best Student Enterprises 2012’ anjuran KPT pada 5 Disember lalu dan menerima piala dan wang tunai RM20,000.
Katanya, semua lapan syarikat yang ditubuhkan kumpulan pelajar berkenaan menerima pinjaman disediakan Agrobank dan Tabung Ekonomi Kumpulan Usaha Niaga (TEKUN).
“Program ini menerima pengiktirafan Kementerian Pertanian dan Industri Asas Tani dengan perjanjian turut dimeterai antara UPM dengan Lembaga Pemasaran Pertanian Persekutuan (FAMA) pada 15 Julai lalu.
“Menerusi kerjasama ini, semua ahli kelab MyAgrosis kumpulan pertama dikehendaki menyertai Program Inkubasi Usahawan Tani sebelum layak memulakan perniagaan,” katanya.
Kini, enam modul kursus ditawarkan kepada peserta program seperti tanaman rock melon, akuakultur, ternakan ayam kampung, perkhidmatan makanan, modul perdagangan dan ekopelancongan.
“Pada masa sama, usaha memantapkan jati diri peserta dilakukan dengan mengadakan satu program ‘team-building’ anjuran bersama UPM dan Biro Tata Negara bermula 7 hingga 9 Januari lalu.
“Diharap program seperti ini dapat memupuk disiplin dan kerjasama dalam kalangan peserta program supaya dapat terus berjaya dan menjadi usahawan berjaya,” katanya.
Pengarah Projek Inkubasi Usahawan Tani UPM, Sahbani Saimin berkata, kerjasama terjalin antara agensi kerajaan dan swasta memudahkan peserta mendapatkan modal pinjaman awal serta lokasi perniagaan.
“Sebanyak lapan syarikat menyokong projek ini dengan memberi tempat atau menyewakan tanah mereka kepada peserta atau berkongsi perniagaan,” katanya.
Katanya, ada baiknya peserta kursus meneruskan proses pembelajaran dengan syarikat swasta terutama dalam mendapatkan bantuan teknikal dan pengalaman.
“Sepanjang enam bulan mengikuti modul disediakan, dua bulan daripadanya dikhususkan untuk peserta mempelajari teori berkaitan ilmu keusahawanan, pelan perniagaan dan cara membuat persembahan di depan panel.
“Mereka juga diajar me–ngenai skil komunikasi yang diperlukan dalam menjalinkan kerjasama pada masa depan,” katanya.
Baki empat bulan kursus pula banyak ditumpukan kepada latihan amali.
“Sepanjang tempoh berkursus setiap peserta menerima elaun khas, RM1,000 sebulan, selain makan dan minum serta tempat penginapan,” katanya.
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