Malaysian Indian Business Magazine Aug 2014

Publisher EDITOR’S NOTEINDIANTODAY.NET SDN BHD (858997-V) We wish all our Muslim readers ‘Selamat Hari Raya Aidil Fitri’ and to all Malaysian(Wholly-owned by Charu Holding Sdn Bhd) HAPPY 57TH INDEPENDENCE DAY.Petaling Jaya Office Businesses are getting competitive thus organisations needSuite 3A52, Level 3A, Block A2, to work very delicate in identifying their niche. This monthLeisure Commerce Square, Jalan PJS 8/9, Malaysian Indian Business [MIB] proud to feature three46150 Petaling Jaya, Selangor entrepreneurs sharing their path of carving own niche forTel/Fax: 03 7865 7320 the benefit of our readers. Each of them wants to provide the best of the best to their clients and communities withJohor Bahru Office some similarity on their entrepreneurial traits. We hope theirNo. 6-01, Jalan Bestari 4/2,Taman Nusa Bestari, business development journey and experiences be lesson81300 Johor Bahru, Johor and guidance for us in creating our own \"ONENESS.\"Tel/Fax: 07 358 2320 Following the Oneness model, this month MIB added into www.malaysianindianbusiness.com.my the mix engaging articles on Business Strategy, Brand, Trademark, Financial planning and so forth for the personal www.IndianToday.net (e-Directory) and professional development. In this issue we also examine the business segments that Malaysian Indians able [email protected] to venture into and the supporting government agencies. Be part of us by subscribing Malaysian Indian Business https://www.facebook.com/ Magazine as more opportunities waiting to be revealed. MalaysianIndianBusinessMagazine As previous issue, we added some interesting Local,CHAIRMAN & MANAGING EDITOR Singapore and India Business News, stunning facts andRasa Rasik figures and spontaneous feedback by entrepreneurs [email protected] professionals to MIB Forum question.016 711 4236 It is time for Malaysian Indian Business to look into developingMANAGING DIRECTOR their business knowledge and share them with others. ClickR Surangi on our Facebook page regularly for details about MIB’[email protected] upcoming events that could be your additional platform for business networking and exchanging your views.BUSINESS DEVELOPMENTDarrshan Enjoy reading and do share with us your [email protected] 201 4236 Chairman & Managing DirectorSALES & MARKETING Disclaimer: The views and opinions expressed in the articles published are those of the authorsJayasree Vijian and do not necesarily reflect the views of MIB. While every reasonable care is taken in compiling [email protected] publication, MIB does not accept any liability whatsoever for possible errors, inaccuracies or omissions016 213 4236 or the consequences thereof. The Publisher also accepts no liability in respect of the content of any advertisement in the magazine.ADMINISTRATION & CIRCULATION All rights reserved. The reproduction, duplication, or republication of this magazine or any part thereof inPetaling Jaya Office any form whatsoever without the expressed written permission of the publisher is [email protected] Bahru [email protected] SubramanianWRITERSThevi SinnaduraiPrasath KanagarasAndy NaiduRajen DevadasanPalani MurugappanGanesh MuruganCONCEPT & GRAPHIC DESIGNKugan RengasamyDISTRIBUTOROne Stop Book EnterprisePRINTINGSampoorna Printers Sdn BhdNo.1, Jalan TIB-1/19Taman Industri Bolton68100 Batu CavesSelangorSOURCE OF NEWS & ARTICLESBERNAMA / PTI / IHRB

CONTENT04 LEADERSHIP 36 BRAND MANAGEMENT0710 Leadership Lessons from The Importance of Brand Consistency the Bhagavad-Gita Part-1 38 Singapore Business News MANAGEMENT SOFWARE 40 Malaysia Business News 46 QUOTES Utilizing Microsoft Excel for Loan Calculations 10 Inspiring Quotes ENTERPRENEUR TC Electrical Entreprise04 10 32 5014 BUSINESS STRATEGY 48 FINANCIAL PLANNING Hyundai's Success Strategy 8 Core Principles Moving From Debt To Rices17 CSR 50 ENTERPRENEUR In case of emergency SC Southern Tours & Travel18 FINANCE 54 TECHNOLOGY Game Plans To Maintain Positive Nanobot : The Future Cure Business Cash Flow For Deadly Diseases22 ENTREPRENEURSHIP 54 Entrepreneur Framework Part II 58 LIFESTYLE24 India Business News Stop & Think! Create Your Future26 Did You Know?28 Facts And Figure 62 LIFESTYLE30 Calendar of Events31 MIB Forum The Key to Beating Your Competition32 ENTERPRENEUR NAVNA Music Studio

Vedantic Management:Leadership Lessons from the Bhagavad-Gita Part 1 - The Art of Anchoring ‘Theory can never displace fact’ - Book II, Aph. 25 of KapilaThe Bhagavad-Gita is a renowned spiritual text and an amplified use in the hope that a copy of this of Hinduism that has given spiritual comfort to magnificent text will grace both your place of prayer and many of its readers although not everyone is meditation as well as your boardroom.aware of the wealth of secular knowledge it contains. Infact, the Gita is a kingmaker par excellence. In business Anchoring • Cultivation • Majestyparlance, its lay teachings are concerned with the art ofinspiring leaders.The Gita is set against impending filial war. Facing The arrangement of moral knowledge in the Gita followsthe grim prospect of killing his kinsmen, Arjuna – an an ancient training rule involving 3 distinct phases. I referotherwise brave and astute fighter – is struck by fear to these (in ascending order) as anchoring, cultivationand apathy. Meaning to lead his army, he falters in his and majesty. Each of these phases corresponds alsomission. Krishna, realizing that Arjuna’s indecision if left to the concept of past, present and future in terms ofto worsen will result in devastation, undertakes to give the growth of the individual. Anchoring involves theArjuna a pep talk. promotion of instinct, tradition, loyalisation; the ‘nature’ aspect of personal growth. Cultivation (as the wordThis is a classical setting for a training session; a difficult suggests) involves learning, growth, application; theproject looms and indecision abounds. ‘nurture’ aspect. Finally, majesty involves the rounding off of the individual; the end game, the completion.But knowledge must work for us in the present, or elseit is useless. It does not grow by mere accumulation. It All set? And so let’s enter the mind of teacher andmust be cultivated, changed, updated and renewed. And student.so I intend to re-introduce the Gita to a new readership| AUGUST 2014

LEADERSHIP 05Anchoring: The first ‘phase’ in ‘How can we be content, training a leader having murdered our own people?’ BG 1:37The first phase concerns exposing the student to Arjuna, like many people, doubts the value of his work.fundamental sentiments; making the student identify This is akin to a loss of incentive. The entire first chapterwith certain experiences. This will result in what is of the Gita involves Arjuna’s doubt and his excellentcalled ‘anchoring’, a process by which a student is reasons for not carrying out his tasks. He expressessubtly (or not so subtly if you prefer) introduced to the a range of emotions; self-doubt, a lack of motivationcore tenets (or in management terms, the ‘business and a shift in principles. He cleverly (and passionately)model’). This way the student is weighed down or advocates his position by endorsing it with goodanchored by meaningful concepts that arguably should reasons.stay with the person forever. And yes, if you can knockthe sense into a person while they are much younger Krishna, seeing this loss of drive begins the process(and consequently more pliable), you’ll do awfully well of anchoring Arjuna, starting with the followingthough age and pliability are not necessarily co-related. proclamation:Anchoring works well when your subject is ‘partnered’ tothe cause (e.g. generating a profit). Think about it, as a ‘You worry for things thatchild you subconsciously decided to work as something you ought not worry for.’ BG 2:11or another with a particular firm. Why? Most probablybecause it gave you a warm fuzzy feeling at a very early Psychologically, this is a magnificent opening gambit.age. Note Krishna does not say ‘Don’t worry’. He does not attempt to pacify Arjuna, preferring instead toThis is all very well you might say but how do I ‘anchor’ deflect his concerns by not giving it credence. Krishnagrown men and women to my business model? The understood that, in the art of kingmaking, it is imperativemost effective way to impart leadership skills to your not to reinforce Arjuna’s doubt. You never tell a childteam members is to treat them as your customers. Sell not to worry about the monster under their bed; youthem your propaganda. They’ll fly the flag the rest of the demonstrate (with certainty) that there is no suchway. Krishna anchors Arjuna by referring to tradition, monster (or provide them with an alternative cure). Thisappealing to his sense of self-worth and motivating his is the oldest confidence trick in the world, achieved byself-image. He does not refer to what riches Arjuna will substituting the apprentice’s knowledge with your own.plunder if he wins the war, but to what he will become. Of course Krishna has noble intentions; the methodologyThis is a central management concept of Vedantic is irrelevant. Arjuna is despondent, weak and thereforeteaching; material possessions are inferior to realization open to suggestion. Krishna (like a capable modern dayand accomplishment. manager) has presence, and he makes it work for the business model (being war).When Arjuna first expresses his doubts, he does notsuffer from fear of doing the work. He fails to understandthe true nature of his duty: AUGUST 2014 |

06 LEADERSHIPThen Krishna delivers another volley: ‘At no time did I not exist, nor you ‘Those who see this (the eternal self),or any of these kings assembled here today, nor hear of it and speak of it all call it a wonder and shall we ever cease to be.’ BG 2:12 yet none understand it.’ BG 2:29Now Krishna develops the reason for his initial Hare Krishna cleverly contends that while this knowledgecontention. In effect, Krishna is saying ‘What the hell is wonderful, even amazing, it is in fact no great thing.do you think you’re doing? You don’t know what you’re As a result, no one truly understands it. Truly, in laytalking about. Listen to me, the show’s got to go on’. terms, no one understands the law of gravity, thoughKingmaking, remember? The entire second chapter of it is in fact a wonderful manifestation of the physicalthe Gita is occupied with anchoring Arjuna to proper world. A clever manager thus conveys an idea and thenknowledge. The issue for Arjuna was death; death of his affects that it is in fact a commonly known concept. Thisfriends and family. So Krishna displaces this knowledge is the old - ‘It’s a well known fact around here that…’ -with a new concept: that death does not exist. In other line.words, Arjuna’s fear is misguided. So, in the space of a very short conversation Krishna inWhen training leaders it is necessary to confront their fact does the following:doubts (the issues). This is achieved by introducingthe apprentice to a creative concept. Imagine you are 1. Displaces Arjuna’s perceived knowledge;Arjuna and you have just heard that you are in factimmortal, unborn; everlasting! There is nothing that 2. Embeds a new idea in Arjuna’s mind; andstrokes the self-image of a leader more than immortality.Of course you’re not telling your staff that they’re 3. Makes Arjuna believe that the new idea is, in fact,going to live forever. But the quality of their efforts will! an old one, and does not merit any intense scrutiny.People will go their whole lives to see their name ona little commemorative plaque at the end. Material 4. Krishna is by no means finished ‘training’ Arjunapossessions, by comparison, are uninspired incentives. although I will end this part here to be continued in a following issue. In contemporary terms what Krishna has so far set out approximately equates to this motivational principle:Having ‘sold’ Arjuna the impression of immortality. ‘YOU’RE GOOD. NO, ACTUALLYKrishna ‘anchors’ the experience even further. He says: YOU’RE GREAT! GET USED TO IT. IT’S NO BIG DEAL.’FAST FACTS Andy Naidu is a Malaysian-born barrister and law lecturer based inMaharishi Kapila is credited with the founding and development of Samkhya (or Melbourne. He is also the DeputySankya) Yoga. The word ‘Samkhya’ more or less translates to ‘enumeration’ or President of LawHelp Australia, a‘discrimination’. It implies that true knowledge is built up in detailed consideration. not-for-profit legal advice bureauSamkhya Yoga is a system of logic based on observation and inference. It can be based in Melbourne. Andy has hadtheistic or atheistic. a long association with the teachings of Hinduism and is currentlyWhile it is now considered one of the principal schools of Hindu thinking, it did not preparing a series of seminars basedhave religious origins and is in fact pre-Vedic in origin. It is less concerned with the on drawing leadership and management principles fromconcept of God and more concerned with sentience and reason. While the Buddha, Hindu teachings. Andy frequently lectures on motivationShankara and Madhva are renowned classical Hindu philosophers, their teachings and ‘the art of the sell’. He can be reached atare underwritten by Samkhya thought. The second chapter of the Bhagavad-Gitadeals exclusively with this idea. With the exception of Patanjali, Kapila is the most [email protected] +61 425 627 116illustrious sage of the Hindu faith. Even Krishna endorses this fact in the Gita whenhe declares:‘…of the perfected people I am Kapila himself.’ BG 10:26| AUGUST 2014

MANAGEMENT SOFTWARE 07 • by Palani MurugappanUtilizing Microsoft Excelfor Loan CalculationTips To Settle Loan Faster Using ExcelTHE HOUSING LOAN (LONG Assume one has taken a loan is made on time). How doesTERM LOAN) of $450,000 after paying a 10% the reducing balance technique deposit for a house valued at work? Now, if the borrower has justAs we move up the corporate $500,000. Total repayment period settled the first month repayment ladder, many are tempted is 30 years with a fixed interest of to upgrade their current 6% per annum. How would one of $2,700 the amount owing to thepossession such as house and calculate the monthly repayment? bank is not $450,000 less $2,700car. Studies have shown that bulk In cell B7 above, we had used the Rather, the bank will deduct a highof a person’s salary goes towards Excel built-in finance function called interest of $2,250 from the firstthe payment and maintenance of a PMT (an abbreviation for “payment”) month’s repayment and the balancehouse and car. When one takes a where it is used to calculate long of $450 is offset from the principalhousing loan, this is considered as term loan calculations. Applying amount borrowed of $450,000. Ina long term loan. Generally, a long the PMT function gives us a result other words, the amount owing afterterm loan is considered as a loan of $2,700 after rounding the value making the first month’s repaymentthat takes 10 or more years to settle. to the nearest 10 (actual calculated is now $449,550. This is reflected inThe monthly repayment calculation value to the nearest dollar is the illustration below.is based on a technique called $2,698). This is the amount the In the above illustration, the current“reducing balance”. How does this borrower will be paying for the next outstanding amount to the bankwork? Performing this calculation is 30 years (with assumption payment now is $449,550. Interest is nownot as straight forward. Let us look charged on this outstanding figure,at the data given below. not the principal amount borrowed of $450,000. AUGUST 2014 |

08 MANAGEMENT SOFTWAREAs the borrower keeps repaying the complaining that they have been should be 0 as in the illustrationmonthly repayments, interest is first paying for many years and the below for the 360th month (the finaldeducted from the repayment and principal amount does not seem settlement payment). Observe thatthe balance is offset against the to be decreasing as quick as they even in the final repayment monthprevious month’s principal amount expect it to! of 360, the borrower is still paying anoutstanding. This technique is The whole scenario can be interest of $13!known as the reducing balance. represented as below in whatLet us analyze the amounts in is known as a loan amortization The above holds true assumingfurther detail. How did we arrive at table. The illustration below shows the borrower pays the monthlya figure of $2,250 as the interest how much the borrower owes the repayment on a timely basis i.e.charged and $450 as the amount bank as he/she keeps up with the in other words, repayment isdeducted from the principal amount monthly repayments (observe that paid before or on the due date.outstanding? the figures below are NOT rounded Otherwise, the banks will imposeThis is where Excel can be used to to the nearest 10 as in the previous interest charges for late payment onwork out how much goes towards examples). top of the monthly interest due.the interest and principal portion of How can you settle the loan soonera loan amount. The function used After a year of paying the monthly than the 360 months? This is whereto calculate the interest part for a repayments of $2,698 (total of one can utilize a built-in feature ofspecific month from the monthly $32,376), the amount that gets Excel called Goal Seek, a classicrepayment is IPMT (interest part of a offset for the first year from the what-if analysis feature. The Goalpayment). To calculate the principal outstanding principal amount is Seek feature only works on a cellpart that is deducted for a specific only $5,526 (i.e. $450,000 minus that contains a formula or a function.month from the monthly repayment, $444,474). If the user had keyed-in a value andthe function PPMT (principal part of As can be seen, the interest charged selected that cell to perform Goala payment) is used. Let us analyze by the bank keeps reducing a little Seek, it will cease to work. Here it goes.how both these functions work. every month while the principal Select the cell that contains the amount that gets deducted from the formula of PMT that was used toThe IPMT function evaluates and outstanding principal amount gets a work out the monthly repayment.gives you a value of $2,250 in little higher from month to month. In our case, it is cell B7. Invoke thecell B9, while the PPMT function How do we know if the above Goal Seek feature (found withinevaluates and gives you a value calculations are correct? When you the Data tab and within the What-Ifof $450 (both have been rounded create a loan amortization table Analysis command).to the nearest 10). In other words, for the entire 360 months, the finalfor the first month’s repayment, outstanding principal amount due83% of what the borrower paysgoes towards interest alone! Only17% gets offset from the principalamount. That is why we hear many| AUGUST 2014

09MANAGEMENT SOFTWAREIn the To value text box, type in THE CAR LOANthe value $2,970 (assuming the (SHORT TERM LOAN)borrower has the funds to pay anextra 10% on top of the monthly The short term loan on the otherrepayment i.e. $2,700 + $270). hand works quite differently asClick to select the cell B4 in the compared to the long term loan.By changing cell text box. Any Generally, in the short term loanborrower who decides to pay more calculations, interest is calculatedwill obviously be decreasing the for the entire duration andtotal repayment period. This is why added to the principalyou click on cell B4, which is the amount. This totaltotal repayment period of the loan. amount is then divided by the number ofUpon clicking the OK button, Excel years or months orcalculates and determines that the repayments. Let usborrower is able to settle the loan look as a typical carin approximately 24 years (valued loan calculation asdisplayed in cell B4). Thus, a small illustrated below.increment of 10% in the monthlyrepayment can actually reduce The calculation of a car loan does What does this tell the borrower?the total repayment period in a not require the use of any built- It is clear that more interest issignificant way. in function of Excel. In the above paid for short term loan as theNote that Goal Seek works best if scenario, the borrower has taken calculations are significantlythe borrower commences the extra a loan of $72,000 based on a fixed different. To recap, for longpayment from the initial stage of the interest of 3% for a total period of term loans, interest outstandingrepayment, not towards the end of 9 years. The borrower’s monthly is calculated after the monthlythe repayment term. For example, if repayment is $847 based on the payment is made. For short termthe borrower is able to pay an extra formula displayed in the formula loans, interest is calculated forof 10% from the first instalment, the bar above. the entire loan period and dividedabove holds well. However, if the As a comparison, should the bank equally by the total number ofborrower decides to make an extra calculate the repayment based repayments, thus working out topayment of 10% at the 20 year on long term loan calculation, be higher.and above, the savings in terms of the amount due is $762 pernumber of years will be small. month, as compared to $847 (a Palani specializes difference of $85 per month). The in training difference may not be significant participants how on a monthly basis. However, for best to perform a term of 9 years, this adds up to data analysis $9,180 (i.e. $85*12*9). from company’s raw data and concluding from the information gathered by harnessing Excel’s built-in functions and features. A HRDF certified trainer and author of 51 books to-date on various software applications, Palani is passionate on what Excel can do, and how best to present data in different formats. He can be reached at: [email protected] www.avimursolutions.com AUGUST 2014 |

3The SUCCESS MANTRAOfSELVANATHAN POnNAmBALAMfounder of TC ELECTRICAL ENTERPRISE, Skudai, JohorMore and more Malaysian MIB : Can you share with us MIB : What induce you into Indians were venturing into entrepreneurial activities about your company? Electrical Works?as country began to transforminto industrial nation. Meet one Like many plantation youngsters, Since my young age, I am a verysuch person, Mr. Selvanathan I started to work immediately after conscientious person and onePonnambalam who born in a completing my secondary school. who pays attention to detail givenplantation and obtained early Because of my interest in electrical by someone. I'm flexible, quickTamil education at SJKT Ladang field, I went to work for 18 years to pick up new skills and eager toRini, today a highly recognised with a Chinese firm specializing learn new things from others. I alsoElectrical Engineering contractor in that field. I decided to venture have lots of ideas and enthusiasmas far as Middle East. Malaysian into this business in 1996 thus to be successful as one of myIndian Business had an opportunity founded TC Electrical Enterprise father’s friend Mr. Sadhasivam. Heto casually chat with the hands on as electrical contracting company is my role model in this industryengineer to learn his entrepreneurial servicing mainly oil & gas industry whom worked hard and becamejourney. and power plant. As electrical successful in his life without any contractor we also involved with solid background support. Being consulting, designing, developing, financial independent my role model maintaining and servicing electrical motivated me to follow the career control systems, machineries and path which he took. equipments.| AUGUST 2014

ENTREPRENEUR 11MIB : Who supports you to runthe business?After 8 years of gaining industrial When some other companies our business. We employed theexperience, I told my father about struggled and downsized during the following strategies to win andmy intention to be an independent economic downturn, we remained retain our customers:entrepreneur. Unlike others, my strong. Since, we were still afather Mr. Ponnambalam respected growing company ; we managed 1. Be better than our competitors.the and inspired myself to be on my to overcome and work on theown feet. He rendered his fullest development of TC Electrical 2. Provide innovative solutions to support and encouraged me by Enterprise. our customers.gifting a van to start my business. Avan with basic necessary tools and However, we faced lots of problem 3. A better quality output within amy passion to succeed, were my during early 2000 , the year I got short time.basic investment. married. We had to work longer hours and had to find solutions to all 4. Provide competitive pricingAs the business was growing the problems that we encountered. which is reasonable.steadily, my two brothers P. Today, TC Electrical Enterprise hasSelvendran and P.Selvaganesh 18 staffs to continue its pursuit for 5. We shouldn't be lack of workcame into the business to support excellence and strives for a bright ethics.the increasing workloads. Upon my future in the years which lays ahead.marriage TC Electrical Enterprise 6. Having TC's own Standardmade much more progress as my In Malaysia, electrical engineering Operation Procedure (SOP)wife Mrs. Letchumy stood firmly industry controlled by Chinese firms ,Commisioning Qualificationbehind myself. I started to attend that have highly competent skilled Verification Check (CQV) andprofessional courses including and dedicated workers, necessary Work Instructor (WI).ways to conduct business and self financing and most importantly themotivation courses. She assisted network of contacts. Most Industries MIB : Can You Tell Us Anymyself to organise the business here prefer to work with their ownin an order and follows proper Chinese indoor contractor. Owing Interesting Experience In Thedocumentation procedures, which to such situation being just an Industry?was a neglected function that “ABC” contractor will further worsencaused us heavy financial losses During the year of 2012, we got aduring the early days of ours. chance to in to show our talent in Sultanate Of Oman as electricalMIB : How do you overcome engineers. Our arrival was wellthe challenges?Just months after I started toventure into this electrical businessand getting up slowly from scratch,the nation faced one of the worst1997/1998 Asian financial crisis. AUGUST 2014 |

12 ENTREPRENEUR 5 panel companies that regularly require our services, 3 of them are Chinese, one Indian and Malay respectively. We also have other small regular clients whom provide opportunities for our team members operate in full swing. Recently, we team up with a company in India that does all huge projects out of Malaysia. Our association with this company keep us busy with servicing their needs and referral from them.greeted by the Managing Director of that point of time, we conveniently MIB : Finally, What Is Yourthe project that surprises two of us sign contracts without any furtherfrom Malaysia. The group thought evaluation but simply hoping to get Advice To Indian Community?that we were a highly knowledgeable the job. We proceed to carry out ourelectrical consultants but for us works without collecting any upfront Giving advice is easy as thoseit was a totally new equipment money or never requested any whom success willing to sharewhich gave us a challenging and purchase order (P.O) . We started to their experiences so that it’s benefitinteresting task. Furthermore, it’s face a lot of issues upon completion others. I would like to share mynot easy or simple to do work at of task assigned and issued invoice guiding principal of success or myoverseas without even sighting for payment. Customers came out mantra that I always tell my children.anything prior to it and it was a with lots of complaints and negotiate In order to be successful take outvery risky task as we involve in a with us to reduce the price ; that was these three words i.e. No, Don’t andpower plant construction work. At a very distressing experience for us. Cannot from your life dictionary.the end of the day, we successfully Eventually we find that lessonscompleted all tasks assigned to us learned from past to be our guiding Based on my lesson from anotherwithout any unforeseen difficulties. policy in current days. We only mentor of mine, Mr Jeyabaskar ; anThe Managing Director appreciated commence a job upon receipt of P.O Indian nationality who successfullythe impressive works delivered and and our management will decide on registered his company as vendorencouraged us to take up more need for deposit upon studying the with Tenaga Nasional Berhad. Hearduous assignments. company background and project generously offers lot of electrical thoroughly. works to our company. Being aMIB : Tell Us About Lesson foreigner, he never said cannot MIB : How Do Your Company but rather progress well uponLearned From Your Past understanding the needs andMistakes? Generate Business? requirements of his customers. Let's emulate his success path.We encounter quite lot during the We serve all level of customer And, we hope that TC Electricalearly stage of establishment. At regardless of race. We have some will transform into a much more effecient company in future. That's all, thank you.| AUGUST 2014



14 BUSINESS STRATEGYHYUNDAI’SSUCCESS STRATEGY:QUALITY, DESIGN & RAPID GROWTH The Strategies That Made Hyundai Among The Highest Profit Margin Car Maker In The World \"We are taking a fast lane to success and we are not going to stop.\" - Chung Mong-koo, Hyundai Chairman Hyundai Motor Company [HMC], South Korea's number one carmaker as well as minivans, trucks, buses, and other commercial vehicles. In the extremely capital intensively car makers such as Toyota, Nissan, Honda, Hyundai, General Motors, Ford, DaimlerChrysler, Renault, and Volkswagen operate on relatively thin margins with competitors battling for their market shares. The South Korean automotive industry with demand for only two million cars per annum, total productive capacity had reached five million forcing HMC using less than 40 percent of its total production capacity, with a debt of around $30 billion. In 1998, HMC took control of Kia, becoming the South Korea’s biggest car maker

and holding three-quarters of its SUCCESSFUL STRATEGIES In order to gain competitive edge,domestic car market as well as HMC seek out cheap labor sincepassing Japan’s Mitsubishi and In order to erase the negative automotive industry's labor costsSuzuki in world ranking. perception HMC introduced a make up only 10 percent of total “10 year warranty” program. The operational costs. HMC cooperatedHMC’s founder workaholic Chung strategy was a major turning point with DaimlerChrysler to develop newJu Yung, 85 whom always found a for Hyundai, and the firm builds technologies and improved supplyway to achieve it whenever he set cars based on much higher quality chain management and gainedhis mind on something passed on standards. While still maintaining access to the Kia’s competitivehis ‘never-give-up’ values to his son, low prices, HMC was able, over advantages in R&D and production.Chung Mong Koo, as Chairman in time, to provide substantially extra HMC also invested in R&D centers1998. The younger Mr. Chung was value to consumers. in North America, Japan, andvery detail oriented, and attached Europe.great importance to producing Putting lessons from the failedquality products. He is often quoted Canadian investment into practice, HYUNDAI MOTOR TODAYas saying: “Quality is crucial to our HMC built inexpensive plants insurvival. We have to get it right, no Turkey, India and China capitalizing Hyundai today is one of the world’smatter the cost.” high quality labor available at these fastest growing major automaker locations. The Turkish plant gave since 1999 with firm’s profit marginsDespite disastrous outcome from HMC a foothold in the Middle East among the highest in the industry,its Canadian operation, HMC while its proximity to Western worldwide. Hyundai Motor companymanagement learned a great deal Europe is also a major advantage. record indicates it sold 4,732,366from the experience. Instead of In 2006, HMC had more than ten vehicles globally in 2013. In 2012ceasing operations, HMC began production plants in locations such Hyundai-Kia was named as makerexporting to the U.S. market with as Taiwan, Vietnam, Iran, Sudan, of one of the 10 best engines in USA.an economical value that soon and Venezuela. HMC’s first U.S. Chairman Chung was named one ofbecame big success with exports plant opened in Alabama in May most successful businessmen in therising to 250,000 units per year. 2005, with an investment of $1.1 world by Business Week magazine.Unfortunately consumer perceived billion and annual production ofthe car as a low-quality. Hyundai 300,000 cars.were losing faith and the firm’sbrand equity began to deteriorate. AUGUST 2014 |

16 BUSINESS STRATEGYBUSINESS SUCCESSSTRATEGY FOR PHENOMENALRESULTS CLARITY FOCUS ACTION• Blend your personal passion • Define long-term strategies • Be in Action , not inaction with your professional that align with your vision. • Work Smart. Never confuse aspirations • Know your value and target busy with productive• Identify the core elements of the markets that value it. • Stretch outside your comfort your business • Create a simple Business zone. Step into your fear.• Make a list of commitments Plan that is clear, focused • Only hire employee who are that hold you accountable to and action-orientated. your business passionate about what you • Stay ahead by leading do.• Establish a personality and the pack. Don’t compare • Hire brains and personality. style for your business yourself to your competition. Skills can be taught. • Treat every complaint• Identify the success • ‘Good Enough’ isn’t good as an opportunity to be principles you will use to enough. Deliver ‘Excellent’. remarkable. guide your decisions • Don’t confuse ‘Excellent’• Be authentic, honest and with perfection. ‘Excellent’ transparent at all times can be improved later.• Have Integrity. Do what it • Be Catalyst. Solve you right, without compromise. market’s problems quickly Always. and simply• Stand for something • Create innovative solutions meaningful to you. • Become a unique authority• Create a Vision with and leader in your significant purpose marketplace. • Attract and serve a loyal following of fans.| AUGUST 2014

CSR 17IN CASE OF EMERGENCY CONTACT CARD [I.C.E]Well, we Malaysian Indian Business ECMOENRTGAECNTCCYARDcares about you and your family. As busybusiness person with schedules to travel My Name :overseas, outstation or need to work in My Address:hazardous environment often arise needof leaving behind loved ones. In Case of My H/P No: My Blood Group:Emergency, someone out there needs tocontact your family members and more ICE People To Call SEE RESERVE SIDE Fold Hereimportantly if doctors know your history In Case Of Emergency:they could treat accordingly.As human begin we can only plan for the Name: H/P:best as what might happen to us next are Name: H/P:not on our hands. Think about your familyand people dependent on you. Just do Allergies:yourself a BIG favour:1. Cut out the Emergency Contact Card I am being treated for: Heart Disease High Blood Pressure Diabetic MALAYSIA and enter your information.2. Enter your next of Kin contact and/or information • Cut out the card and Fold as indicated3. Enter your medical information and • Fill in your emergency contact information and your allergic details laminate it4. Get it laminated • Carry this card with you as reference in the event of5. Keep it safely in your wallet or purse a disaster or other emergency that easily visible. • Better Get One Original for every members of yourNext, get one for all your family memberand staffs. household and working colleagues AUGUST 2014 |

18 FINANCE • by Arikrishnan SubramanianGAME PLANS TOMAINTAIN POSITIVECA$HBUSINESS FLOW?Business experts acknowledge that healthy cash In setting competitive price business owners may flow is the life-blood of your business. Some of consider the following factors: them even argued that the movement of moneyin and out of your business more important than ability • Their product position in the market and customerto deliver its goods and services. A business is said segmenthaving positive cash flow when its inflow money orcash collected primarily come from the sale of goods or • The relationship between the price and quantityservices exceed their outflow. soldInflow OutflowCash sales Payment for purchasesReceivables from sales of goods or services Business operating expensesBorrowings Purchase of assetsCash from business sales assets Payment of Loans /InterestInvestment Incomes Taxes Examples of Inflow and OutflowMalaysian Indian Business [MIB] research team • Your distribution and promotion of your productsfound that most of Malaysian Indian businesses oftenface cash shortages that prevent them from meeting • The costs associated with your products includingfinancial obligations that resulted difficulty in planning the fixed and variable costsfor the future and expansion. MIB share some game • Your competitors pricingplans business can try in improving their cash flow: • The method of calculating price and what you want to achieve?SET YOUR PRICES COMPETITIVE • Try to negotiate for a better price with suppliers, possibly buy in bulk if stock turnaround is fasterSetting price competitively with desire profit margin is • Get discount by paying earliervery crucial for business to sustain continuously in the • Get best pricing for your supplies by shoppingmarketplace. The game plan for competitive pricing around for other competitive suppliersneeds better pricing strategy and effective cost of goods • Implement new efficient processes in producingsold purchasing mechanism. your goods | AUGUST 2014

FINANCE 19DON’T PAY TOO EARLY BUT MANAGE YOUR • Clear old and outdatedDEBTORS stock by offering discountsHold on! Don’t get confused. Read further following • Use ratios such asthree steps game plan. inventory turnover and days inventory toFirst: Manage you debtors as until money not in compare toyour bank a sale isn’t a sale. previous periodsFollowing step by step actions might assist to reduce and industryaccounts receivables: standards• Receiving deposits on signing of sales confirmation • For fast moving stock, buy in bulk to receive a• Offer discount for early payment discount• Issue invoices immediately• Review receivable reports regularly and follow up • Focus on a ‘just in time’ ordering system with overdue Third: Don’t pay too early• Should customer face problem be flexible by Proper procedures and monitoring may reduce overpayments or payment for non-delivered goods. An offering easy payment plan example of overpayments, is when for payments made• Where possible accept payment via credit card based on a statement and yet not have an invoice to verify the purchase. To avoid such situation include:Second: Manage you stocks • Two signatures for accountability on purchase ordersYou’re out of business if no stock while too much stock • Request new quotes on half yearly basis forcan impact cash flow heavily. The right stock level needs products previously purchasedvery sharp business acumen with good accountingknowledge. Some examples of how to improve stock • A proper procedure for receiving goodscontrol: • A procedure for payment of goods that requires purchase order, delivery docket, invoice andSet minimum and maximum levels of stock and stay statement. The level of paperwork required maywithin these levels vary depending on the size of your businessCash Flow Sept 14 Oct 14 Nov 14 Dec 14Opening Balance (55,500.00) (37,100.00) (18,500.00) 900.00Receipt from Customers 72,000.00 75,000.00 73,000.00 73,500.00Total Cash inwards 72,000.00 75,000.00 73,000.00 73,500.00Less Cash OutflowsCost of Sales 36,000.00 36,000.00 36,000.00 36,000.00Wages 10,000.00 10,000.00 10,000.00 10,000.00Total Overheads 7,600.00Taxation 2,800.00 7,600.00 7,600.00 7,600.00Total Cash Outflows 53,600.00 2,800.00Closing Balance (37,100.00) 56,400.00 53,600.00 56,400.00 (18,500.00) 900.00 18,000.00 Example of 3 months cash flow statement AUGUST 2014 |

20 FINANCEMAINTAIN 3 MONTHS CASH FLOW STATEMENTSA profitable business can still have cash flow problems. For example, QWE bought stock for RM8, 000 inJuly. They paid for the stock at the end of August. The stock was sold to XYZ for RM12, 000 in Septemberand they received the money for the sale in November. In September QWE has recorded a profit of RM4,000. However, the profit doesn’t hit the bank till two months later.By maintaining a three month cash flow budget any excess cash should be transferred to a high interest bankaccount that can be easily accessed when it is needed or prepare action plan to reduce impact of negativecash flow.• Pay your creditors on the day the invoice is due. Do not pay early or late• Negotiate longer payment terms or a payment plan if the business is struggling• Negotiate discount for early or up-front paymentOWNER’S REDUCE YOUR DRAWINGSWHAT, I’m bringing in business and you say don’t take between reinvesting the profits to grow your businessthe money out for my use? That’s the usually crumble and enjoying the rewards of your hard work now orby most of the entrepreneurs. Well, we understand postpone it to a much later stage. We suggest a regularyour pressing need but the survival of business is more wage withdrawal much lower than monthly net profit ofcrucial them your current needs. One of the most your business to enable the doubling effect took place.common problem among Malaysian Indian businessesare owners withdrawing more cash than the businessable generate, followed by poor financial reporting.Drawing out wages in excess of profit generated bybusiness for personal expenses without consideringfuture cash outflows need can destroy a business veryquickly. Business owners may need find the balance MIB MEET UP 1. Details as our Facebook Page: www.facebook.com/MalaysianIndianBusinessMagazine 2. Bring along this original voucher to AUGUST 2014 MIB MEET UP Session along with one business guest. 50% off.FREE3. It’s for you and your Guest gets | AUGUST 2014



22 ENTREPRENEURSHIP ENTREPRENEURSHIP FRAMEWORK (Part2) Malaysia’s Vision 2020 established entrepreneurship as fundamental of economic policy to achieve economic growth in order to realize the high income nation goal. The 10th Malaysia Plan 2011-2015 provides specific entrepreneurship measures i.e. i. Plan, Creating an Environment for Unleashing Economic Growth ii. Moving Towards Socio-Economic Development. In this edition, we complied prime role of agencies under another two more ministries committed towards the vision. A Joint Entrepreneurship Education by :MINISTRY OF DOMESTIC TRADE,CO-OPERATIVES AND CONSUMERISMAGENCIES FUNCTIONS Government of Malaysia anticipate cooperatives will become the third crucial engine after the public and privates sector in driving the nation’s economic growth. The government has high confidence and commitment for cooperative movement and these were portrayed through the financial and non-financial aids included in many development plans . In 2002, the National Co-operative Policy (NCP) was launched with the aim of orderly re-developing cooperatives. Malaysia Co-operative Societies Commission was established so as to monitor and regulate cooperative movements. With the setting up of the MCC, the latest Cooperative Act 2007 was brought forth with the objective of promoting cooperative values of trustworthiness, transparency and honesty within the cooperative society development. The Companies Commission of Malaysia (SSM) is a statutory body responsible for the regulation of companies and businesses in Malaysia. SSM was established on 16 April 2002 under the Companies Commission Act 2001 [Act 614] as a result of a merger between the offices of the Registrar of Companies (ROC) and the Registrar of Businesses (ROB). SSM’s main function is to regulate all companies and businesses in Malaysia through the administering of several legislations such as the Companies Act 1965 [Act 125] and the Registration of Businesses Act 1956 [Act 197]. SSM is the custodian of corporate and business information and in addition, supplies corporate and business information to the public. SSM supervises the compliance of the corporate laws through continuous enforcement and surveillance activities. SSM in its role as a corporate regulator also promotes Good Corporate Governance practices as well as drives Corporate Responsibility initiatives amongst corporate community, specifically the SMEs by creating awareness and in encouraging good and sustainable business practices. Intellectual Property Corporation of Malaysia the registrar of patents, trademarks, industrial designs, copyrights and geographical indications formed to fulfill following objectives : • Establishing a strong and effective administration; • Strengthening intellectual property laws; • Providing comprehensive and user-friendly information on intellectual property; • Promoting public awareness programmes on the importance of intellectual property; and • Providing advisory services on intellectual property Bank Rakyat was established on 28 September 1954 under the Cooperative Ordinance 1948 (known as the Cooperative Societies Act 1993). As of December 2013 Bank Rakyat is the biggest Islamic cooperative bank in Malaysia with assets totaling RM82.88 billion operating 145 branches with more than 600 automated teller machines (ATMs) and cash deposit machines (CDM), and 78 Ar-Rahnu X'Change nationwide. The bank plays vital role to consolidate the cooperative sector as the mainstay of economic growth of the nation. Malaysia Competition Commission (MyCC) is an independent body to protect the competitive process for the benefit of businesses, consumers and the economy. The Competition Commission Act 2010 empowers the Malaysia Competition Commission (MyCC) to carry out functions such as implement and enforce the provisions of the Competition Act 2010, issue guidelines in relation to the implementation and enforcement of the competition laws, act as advocate for competition matters; carry out general studies in relation to issues connected with competition in the Malaysian economy or particular sectors of the Malaysian economy; inform and educate the public regarding the ways in which competition may benefit consumers in, and the economy of, Malaysia. MyFEX (www.myfex.gov.my) is online system established by the ministry to register and apply franchise business in Malaysia. | AUGUST 2014

23ENTREPRENEURSHIPAGENCIES MINISTRY OF AGRICULTURE & AGRO-BASED INDUSTRY FUNCTIONS Agriculture and Food Business Development Center (Agri-BDC) is a local and local information center. This center is created for public and private sector to access information related to the services provided and to assist public and private sector in understanding the Ministry of Agriculture and Agro-Based Industries including Departments and Agencies under the Ministry. Among the information provided includes: • Consultancy service • Expertise • Grant provided by the Government • Loan • Training • Rules and Legal to be complied • Accreditation and standard • Business match making • Consultant Service TEKUN Nasional is to provide simple and quick financing facilities to bumiputeras in order to kick-start and further expand their businesses. Since 2008 ,TEKUN Nasional provides business opportunities as well as income generation opportunities, business capital financing and guidance and support services as well as providing a networking platform for entrepreneurs. TEKUN Nasional also provides financing to Indian ENTREPRENEUR under SPUMI programme. Agrobank formerly known as Bank Pertanian Malaysia which has 40 years of experience in agricultural banking and an excellent track record in shaping and developing successful entrepreneurs is a Government-linked- Company (GLC) under the Minister of Finance Incorporated (MFI). The bank’s financing of the agricultural sector is driven by a policy set forth by the Ministry of Agriculture and Agro-based Industries. The bank provide full range of financial services to specific target groups; agropreneurs, micro, small and medium entrepreneurs and private individuals. Federal Agricultural Marketing Board or known as FAMA was formed in 30 September 1965 to monitor, coordinate, control and develop product marketing of Malaysian agriculture, including import and export. FAMA main function is : • Coordinate agriculture marketing activity both in private sector or department / government agency • Improve marketing system and expand new market of Malaysian agriculture development • Collaborating with private sector and department / government agency to create efficient and effective agriculture marketing system • Develop an efficient management in agriculture industry, marketing activity or agricultural products processing • Involve directly in agriculture industry, especially in marketing activity and products processing Farmers' Organisation Authority of Malaysia or Lembaga Pertubuhan Peladang (LPP) was formed on 14 February, 1973 with aim of improving economy and social well-being of the agro society under one body. The Malaysian Pineapple Industry Board (MPIB) is a Statutory Body was established in 1957 with the following objectives : • To increase the agriculture sector’s contribution towards the country’s income, foreign currency exchange and employment opportunities • To encourage investment and to increase foreign investors involvement in the industry • To manage the pineapple plantation sector and maximise production in a continuous manner • To improve the Quality Control Programme thus ensuring continuous product quality • To maintain and strengthen the existing market and to explore new markets. • To increase the efficiency of pineapple based processing factories and increase high value-added and upstream pineapple industry activities • To become the information centre and reference to the pineapple industry. • To maintain and encourage the involvement of locals in various pineapple industry projects via continuous consultation and supervision • To encourage development of an organised industry through research activities and expansion service • To secure a mutual international collaboration in various fields and also a smart partnership beneficial through technology and exchange of scientific information AUGUST 2014 |

24 INDIA BUSINESS NEWS INDIA'S YOUNG ENTREPRENEURS TURN ANGEL INVESTORS FOR NEW START-UPSBAJAJ GAINS IN OVERSEAS MARKET After creating billion-dollarEven as it lost market share in domestic motorcycle market, startups, India's first Bajaj Auto is racing ahead in many overseas markets and generation e-commerce has claimed to have captured top positions and significant & mobile entrepreneursmarket share. Bajaj’s top motorcycle brands Discover, Pulsar and have donned a new hatBoxer continue to see strong sales momentum and have emerged - that of angel investors.strong brands in several markets where Chinese and others Despite steering high-growthbrands are also marketed. While there were strong market share companies themselves, theseimprovements across South Asia, the Middle East, Latin America 30-somethings are using theirand Africa, Boxer is reported to have become No.1 brand in Africa personal wealth and time toamong all competitors. “Both, Discover and Pulsar continued to push a whole new bunch of younger ventures. India saw the first wavegain market share in key markets like Colombia, Central America, of entrepreneur angels when the likes of Makemytrip's Deep KalraEgypt, Sri Lanka and Bangladesh. Boxer continued to hold market and Naukri.com founder Sanjeev Bikhchandani took their companiesshare in Africa and, in many cases, gained at the expense of public. However, this time around most of the angel investing is beingChinese brands to further strengthen its leadership position in done by existing entrepreneurs who are in the thick of running theirmarkets such as East Africa and Nigeria,” revealed company’s own businesses. Whether it's Sachin and Binny Bansal of Flipkart,latest annual document. Bajaj Auto is way ahead of its other Indian Snapdeal's founders Kunal Bahl and Rohit Bansal, Mu Sigma's Dhirajcompetitors in terms of exports. It shipped about 1.3 million two Rajaram or InMobi's Naveen Tewari, they are all keenly investing inwheelers in FY14 which is significantly higher (accounted for 69 per new ideas — a sign of the overall startup ecosystem maturing in thecent India’s bike exports) than its peers. Presently, its major export country along the lines of Silicon Valley. Angel investing is typicallydestinations are Africa (46 per cent), South Asia and Middle East done at a very early stage of a company's life, and startups say(28 per cent), Latin America (19 per cent) and Asean (7 per cent). they gain significantly from these entrepreneur angels. \"Who betterTotal two wheeler (up to 250 cc) export market size is estimated at to know the high potential and market opportunities than existing$ 7 billion and is expected to rise further due to low penetration level entrepreneurs? This is great for the ecosystem. It also highlightsin many emerging economies of Asia, Africa and Latin America. the fact that this new breed of young entrepreneurs is truly puttingIndian companies have lot of ground to cover in terms of export. its money where its mouth is. I find this very exciting for the futureMyanmar, Nigeria, Argentina, Mexico and Venezuela are some of of value creation in the Indian market,\" says one-time entrepreneurbiggest importer of two wheelers in the world. Indian companies Avnish Bajaj, MD at VC fund Matrix Partners India. Bajaj, along withare virtually absent in Latin American market. If these markets his Harvard Business School classmate Suvir Sujan, founded India'sare tapped effectively, it will provide further growth for Indian two largest online auction site Baazee, which was later acquired by eBaywheeler maker. in 2004.AXIS BANK INDIA SEEKS JAPANESE INVESTMENT INAPPOINTED SMART CITIES, BULLET TRAINSSANJEEV KUMARGUPTA AS ED India sought Japanese investment to develop 100 smart cities and high-speed bullet trains to improve infrastructure and create jobs.The board of directors \"Japan is a natural partner of India. Japan is best in developing smartof Axis Bank has cities, development of high-speed trains...In the next five years, weappointed Sanjeev need 10,000 Japanese companies. We will hand-hold them,\" AmitabhKumar Gupta as Executive Kant, Secretary in the Department of Industrial Policy and Promotion,Director with effect fromSeptember 1. Gupta is thePresident and CFO of thethird-largest private banksince 2009.Gupta has servedas a Director at Axis Securities & Sales Ltd and has worked with theState Bank of Bikaner and Jaipur. He will take over from SomnathSengupta, Executive Director (Corporate Centre), who has optedfor early retirement. Shikha Sharma, Managing Director and chiefexecutive at Axis Bank, said, “Sanjeev’s elevation to the Boardis in recognition of his contribution to the bank’s growth and all-round leadership provided by him. As Executive Director, he willbe actively involved in the bank’s overall strategy and will have thespecific responsibility for key corporate functions of the bank.”| AUGUST 2014

said at a Federation of Indian Chambers of Commerce and Industry 25INDIA BUSINESS NEWS[ FICCI] function. Kant said Japan has already formed a partnershipwith India for the Delhi-Mumbai Industrial Corridor (DMIC) project, use of more than 10 years. \"If there is a link between EMFs anda 1,483 kilometre dedicated freight corridor. He said about 1,000 cancer, it must be occurring through a mechanism that lies outsideJapanese companies currently have a presence in India. In its election the standard mechanisms of carcinogenesis,\" the campaign quotesmanifesto, the ruling Bharatiya Janata Party said it would initiate the Siddhartha Mukherjee, the author of Pulitzer Prize-winning bookbuilding of 100 new cities, enabled with the latest in technology and 'The Emperor of All Maladies: A Biography of Cancer'. Cell phoneinfrastructure. India has proposed to build smart cities under the DMIC users tend to be more cautious when companies advise them ofproject. They will have self-sustainable habitats with minimal pollution alternative methods to use the handsets. In this regard, COAIlevels, maximum recycling, optimised energy supplies and efficient director general Rajan S Mathews said, \"Handset manufacturerspublic transportation. \"Rapid urbanisation is happening in India. About only give alternate measures like using earphones to address users'750 million people would get into the urbanisation process in the next concerns. If the handset complies with the specific absorption rateone decade and in all these things, Japan will be a natural partner,\" he value, it is completely safe.\" The campaign, which will run acrossadded. He said Japan would become a key player in the development several cities, comprises reference books, videos and roadshowsof the Indian economy. \"Today, there is an opportunity to work with involving experts from oncology, radiology, molecular and physicalJapan. We look forward to work with Japan,\" he said. India received science as well as the WHO.USD 16.26 billion worth of foreign direct investment from Japanbetween April 2000 and April 2014. INVESTOR WEALTH RISES BY RS 16 LAKH CR IN Q1, FY'15CELL PHONE RADIATIONS NOTCARCINOGENS: COAI Investor wealth soared by over Rs 16 lakh crore to more than Rs 90.19 lakh crore in the first quarter of 2014-15 because of rising stock prices amid robust foreign fund inflows and theCellular Operators Association of India (COAI), the umbrella body BJP government's storming to power at the Centre last month. of the GSM operators, launched a nationwide public awareness The BSE's 30-scrip index, Sensex, has gained 3,027.51 points campaign to dispel the myths that radiation from mobile tower or 13.52 percent to 25,413.78 during the April-June quarter of theantennae and handsets cause cancer. As opposed to previous current fiscal. Investor wealth soared by Rs 16,04,394 crore on'misleading' studies claiming that electromagnetic emissions produced the back of stock market rally to reach Rs 90,19,394 crore today.by cell phones and telecom towers are carcinogenic, the campaign It was Rs 74,15,000 crore as on March 31, 2014.Market expertstitled 'Mobile Network and Public Health' says no such correlation has said the BJP's landslide victory in the elections coupled withbeen established yet. \"We have been using X-ray radiations for over expectations of strong economic reforms have propelled the stock115 years, and we still haven't established the relationship between market ahead of the next week's Union Budget 2014-15.Strongcancer and radiation to any great extent. \"We believe that mobile inflows by foreign investors are mainly due to the expectation oftower radiation does not produce any significant harm to humans,\" several reform measures from the new government and hopes ofit says, quoting, Indian Radiology and Imaging Association president a stable economic policy regime, they said. \"Now, the countdownBhavin Jankharia. According to the Delhi Medical Association, has begun for the Union Budget and market participants are eyeingradiation emitted by the sun is 100 times stronger than that emitted pre-budget rally,\" said Jayant Manglik, President-retail distribution,by a telecom tower, making them too weak to be harmful for human Religare Securities Ltd.health, cited the campaign. \"Cell phones emit radio frequency waves, News source : PTIwhich occupy the lowest end of the electromagnetic spectrum, andthus cannot cause any sort of mutation in the DNA,\" said convener ofthe Neuro Oncology Group at the Tata Medical Centre Rakesh Jalali,in the video screened as a part of the campaign. It can be noted thatfollowing public oppositions to setting up of telecom masts in cities, thegovernment has set strict radiation limits, capping the EMF emissionto a 1/10th of the value recommended by the WHO (World HealthOrganisation), the campaign showed. The current radiation exposurelimit in the country is 0.45 watts per square metre for mobile towers,which is much lower than the limits in the US, Canada and Japan,where this is at a higher 9 watts per square metre, the campaign saysquoting the Delhi Medical Association. As opposed to popular beliefthat usage of handsets could contribute to brain-related diseases, theWHO Fact-Sheet 193, released in June 2011, says that there is nohigher risk of brain tumours or acoustic neuroma with mobile phones AUGUST 2014 |

26 DID YOU KNOW?DID YOU KNOW? • DATUK RANJIT AJIT SINGH • SHILA DORAI RAJ is currently is the Executive Chairman of the the CEO of the Malaysia Securities Commission Malaysia Competition Commission since 1 April 2012. He is also (MyCC). She was assigned chairman of the International with setting up the Competition Organisation of Securities Commission as well as laying the Commissions (IOSCO), an foundation for the implementation emerging market group on the of the Competition Act 2010regulation of secondary markets and co-chair of the task which came into effect on 1 January 2012. She wasforce on bond markets. Ranjit completed Bachelor of the former Under Secretary of the policy and planningEconomics (Honours) degree and Master of Economics division of the Ministry Domestic Trade, Consumerismdegree in Finance from Monash University, Melbourne and Co-operative where she was a key team memberand is a fellow of CPA Australia. who formulated the Competition Policy and then the • The Ministry of Transport drafting of the Competition Act 2010. She holds a appointed DATO' CAPT. DAVID Bachelor of Economics degree (UKM) and an LLB PADMAN as General Manager (Hons) (University of London) and a Certificate in Legal of Port Klang Authority the Practice (UM). corporate body overseeing two • PROF. DATO' DR. VEERA of the port's terminals (Northport RAMANI is the Hospital and Wesport). Both terminals Director of The Tun Hussein that capable to handle some 10 Onn National Eye Hospital andmillion boxes comprising indigenous and transhipment an Ophthalmologist since itscargo, as of 6 July 2011. He also serves as the Chairman inception. She is also the currentof the International Association of Ports and Harbors Chairman of the PreventionPort [IAPH] Environment Committee since 2009 and of Blindness and Low Visionthe Chairman for Asia (Eastern Dredging Association) Committee of Malaysian Association for the Blind. SheOceania Region since 2010. is also an Independent Member of International Agency • DATUK M. NAGARAJAN for the Prevention of Blindness and sits in the Council of was appointed as Deputy Prevention of Blindness in the National level. She has Secretary General (Plantations presented over 47 papers locally and internationally. and Commodities)with prime • DATUK SERI DR K responsibility of the overall GOVINDAN is the Group Chief development of the commodity Executive Officer of RAM sector covering palm oil, rubber, Holdings Bhd (formerly known furniture industry, cocoa, pepper, as Rating Agency Malaysiasago and tobacco and kenaf. Datuk M. Nagarajan Berhad), a leading provider ofstarted his career as administrative officer in the National independent credit research andRegistration Department in 1981. He holds a Bachelor’s advisory services. Datuk SeriDegree in Social Science majoring in Economics from Dr. K. Govindan was the Deputy Director of EconomicUniversity of Science Malaysia (USM) in 1980. In 1996, Planning Unit (EPU). He has served the Economiche obtained his Masters in Economics from Vanderbilt Planning Unit (EPU) since 1975 and has retired inUniversity, United States of America. January 2011. He is also a Member, Board of Directors and Executive Committee Members of Malaysia Property Inc .| AUGUST 2014



28 FACTS & FIGURES149% US$42.8 BILLIONGAMUDA BHD’s NET PROFIT INTERNET ADVERTISING REVENUES IN THE UNITED In a statement to Bursa Malaysia STATES said the group net profit soar to RM177.9 million for third Interactive Advertising Bureau (IAB) quarter ended April 30, 2014 reports revenues from Internet from RM71.4million despite net advertising in the United States up revenue slipped 1.1% y-o-y from 17% from the $36.57 billion in 2012 RM641.1million to RM633.8 to $ 42.78 in 2013. The report also million discloses Mobile advertising in the United States totaled $7.1 billion£200 MILLION during FY 2013, a 110% increase fromBRITIAN FIRST SOVEREIGN t h e prior year total of $3.4 billion. OnlineSUKUK advertising continues to remain concentrated with the 10 leading ad-selling companies, which accounted for Britain became the first country 71% of total revenues in Q4 2013. outside the Islamic world to issue sovereign Sukuk, the Islamic RM207.4 BILLION equivalent of a bond for £200 million, maturing on 22 July 2019 with profit MALAYSIAN LOGISTICS rate set at 2.036%. The Chancellor INDUSTRY REVENUE of the Exchequer George Osborne PROJECTEDsaid “We have seen very strong demand for theSukuk, resulting in a price that delivers good value for The Malaysian Logisticsmoney for the taxpayer. I hope that the success of this Industry projected togovernment issuance will encourage further private generate RM207.4billionsector issuances of Sukuk in the UK.” revenue in 2017 Frost & Sullivan forecasted. AsUS$70,000 Malaysian economy up the value chain and attainPRICE OF TOYOTA’s FIRST FUEL fully developed economyCELL SEDAN status by 2020 through the creation of high income, the services sector is expected to play a more active role in generating economic growth. A target has been set for this sector to contribute 61% to the national GDP by 2015 or an average growth of 7.2% per annum during the 2012- 2015 period of the 10th Malaysia Plan.Toyota's fuel cell sedan can travel about 700 kilometers https://www.facebook.com/without refuelling, about three times further than an MalaysianIndianBusinessMagazineelectric car, and it only takes three minutes refuel, similarto a petrol engine car, Toyota said. The green cars arepowered by a chemical reaction of hydrogen and oxygen,which produces nothing more harmful than water. | AUGUST 2014

FACTS & FIGURES 29RM491.08 MILLION RM604.18 BILLIONBERJAYA CORP BHD'S [BCORP] TOTAL ASSETS MANAGED BYPRE-TAX PROFIT FUND MANAGEMENT INDUSTRY for the financial year Total assets managed include ended April 30, 2014, shariah compliance funds by Fund declined to RM491.08 Management Industry in Malaysia million, from RM575.26 stands at RM604.18billion as of 31st million recorded in the March 2014. Sources of assets under same period last year. management include but are not Revenue, however, limited to, unit trust funds, corporate bodies, Employee rose to RM8.63 billion, Provident Fund (EPF), private pension funds and from RM7.37 billion charitable bodies. previously. In a filing toBursa Malaysia, BCorp said the lower pre-tax profit 20%was mainly due to the incurrence of exceptional non-cash charges from impairment of certain goodwill EU'S TRADE WITH THE REST OFand property, plant and equipment and lower profit THE WORLDcontributions from associated companies. The companyis proposing a dividend of one sen per share for the With just 7% of the world’s population, the EU's trade with the rest of the worldfinancial year. accounts for around 20% of global exports and imports. Around two-thirds120% of EU countries’ total trade is done with other EU countries. Despite trade hasDIVIDEND PER SHARE been hit by the global recession, but the EU remains the world’s largest player accounting for 16.4% ofIOI Corporation Bhd has declared its second interim global imports in 2011. The EU is followed by the Uniteddividend of 120% or 12 sen per share of 10 sen each. States with 15.5% of all imports, and China with 11.9%.IOI Corp did not declare any dividend for the third The EU was also the biggest exporter, accounting forquarter March 31, 2014. On Dec 9, 2013, the board 15.4% of all exports – compared with 13.4% for Chinadeclared a distribution-in-specie of 2.130 billion shares and the 10.5% for the United States.of RM1 each in IOI Properties Group Bhd (IOIPG) heldby IOI Corp to all shareholders of IOI Corp on the basis RM47.2 BILLIONof one IOIPG share for every three shares of 10 seneach in IOI Corp. The IOIPG Shares were distributed VALUE OF MALAYSIA’Sas distribution-in-specie on Jan 13, 2014. On Feb 25, LIABILITIES2014, the board declared an interim single tier dividendof 80% or 8.0 sen per share for FY ending June 30, The value of Malaysia’s liabilities2014. The dividend was paid on March 21, 2014. exceeded assets abroad by RM47.2 billion (4.8 per cent of GDP at current prices) as of December 2013 accordingly to Statistics Department of Malaysia Malaysia’s financial assets position to the rest of the world continued to increase in 2013 by 10.5 per cent to stand at RM1,354.00 billion. However, total liabilities broadened by 12.7 per cent accumulated to RM1,401.2 billion as against RM1,243.4 billion a year ago, making Malaysia’s net international investment position remained as net debtor position. AUGUST 2014 |

30 MIB CALENDAR INTERNATIONAL EVENT MALAYSIA event Perfect Livin Penang 100 Percent Design Singapore1 Subterranean Penang International 1 Marina Bay Sands Singapore Conference & Exhibition Centre 29 August - 1 September 2014 1 - 3 September 2014 Water Loss Asia World Sugar Expo2 The Royale Chulan Hotel, 2 Bangkok International Trade & Kuala Lumpur Exhibition Centre, Bangkok Thailand 3 - 4 September 2014 3 - 4 September 2014 India Bakery Expo Asia’s Premier Herbal Trade Show 2014 3 Chennai Trade Centre3 Matrade Exhibition Convention Centre (MECC) Kuala Lumpur 4 - 6 September 2014 4 - 6 September 2014 International Machine Tools Expo Matta Fair-Kuala Lumpur 4 Pragati Maidan, New Delhi India Putra World Trade Centre (PWTC) 4 - 6 September 2014 Kuala Lumpur4 Power Industry India 5 - 7 September 2014 5 Pragati Maidan, New Delhi India Rail Business Asia 4 - 7 September 20145 Kuala Lumpur Convention Centre CWE - Cutting & Welding 9 -11 September 2014 6 Equipment Expo Pragati Maidan, New Delhi India Palm Oil Sarawak 4 - 7 September 20146 Civic Centre, Bintulu Sarawak Bangkok Furniture Fair 10 - 11 September 2014 Impact Exhibition & Convention Center, Bangkok, Thailand Power - Gen Asia 77 Kuala Lumpur Convention Centre 6 - 14 September 2014 10 - 12 September 2014 Electronex Petroleum Asia Expo 8 Australian Technology Park, Sydney Australia8 Borneo Convention Centre Kuching 10 - 11 September 2014 17 - 19 September 2014 Electropower Asia Expo Landscape Australia Expo - Sydney9 Borneo Convention Centre Kuching 9 Royal Hall of Industries & Hordern Pavilion, Moore, Sydney Australia 17 - 19 September 2014 10 - 11 September 2014 Warehousing Storage and Pumps & Systems Asia-Singapore Material Handling 10 Marina Bay Sands Singapore10 Malaysia International Exhibition & 10 - 12 September 2014 Convention Centre 25 - 27 September 2014 | AUGUST 2014

MIB FORUM 31 Whom will you appoint as contractor to renovate your house based on scenarios described below? SCENARIO 1 SCENARIO 2 SCENARIO 3A well-established Chinese An Indian Contractor with 20 An Indonesian workingcontractor in your area with years’ experience working for elsewhere, he promises toproven track record. They others. Just completed two complete work 30% belowpromise work completion jobs through own company. your budget with completionwithin 45 days. Price 30-50% He is requesting work within 60 days and workabove your budget. completion up to 60 days with flexible hours. price meeting your budget.FEEDBACKSIt has been my observation that the I prefer Chinese. Work quickly is superb Race of the contractor doesn’t matter,Chinese will be appointed as he has and worth paying for their job. quality or work and reliability is mosta proven track record of completion - Sivanandan, Senior Resident Executives important. I use my regular contractoras agreed, Indian will give problems for the last 10 years not because of hiswhereas the Indonesian will probably A lot of Chinese contractors are just race but because he always deliversabandon the work. Indians need to middle man who take the contract what he promises and workmanship isbuild a reputation as being ethical and and get some Indonesian to do it excellent.honest. at a cheaper price. I have had bad - Arvind Nambiar, Associate Business- Gursharan Singh, Self Employed experience with Chinese contractors Excellence ManagerIndependent Consultant too, where the work defect shows after a couple of months or a year. For any If it’s a major work I will hire the ChineseI will give the Indian and the Indonesian contract of a reasonable big sum I will but if involves minor works and nota chance base on their previous record. look for established contractor who are critical I will hire the Indian Contractor.I know an Indonesian for 10 years who willing to sign contract with me. For - S Saraswathy, Vice Presidentis in this line and he collects my rental. contract of small sum I will definitelyI would go for the Chinese if i do not give Indian a chance but monitor I will appoint whoever gives me a qualityknow the the Indian or the Indonesian payment and work strictly with them. work and timely completion eventhoughpersonally. Its time these small Indian contractors the price can be slightly above my- Al Rajan Kannappan, Executive tie up and set up an organization to budget. run their business professionally with - Sarguna Raj, Project/Program ManagerI might just go for the Indian. I gave my contract and guarantee of work to movebusiness premise renovation to a Sikh up the value chain. This will definitely Chinese contractors will do a proper job,contractor. give consumer confidence to use their but they are too racist. They will give 2- Vishnu Kumar, Lecturer service. different quotations for the same job. - Prasad Ramachandran, T-OD and For Chinese will be cheaper and forI prefer to give Chinese even though Research Collaboration Manager Indians will be expensive. I had a veryexpensive but quality comes first. Had bad experience with them.experience with Indian contractors’ jobs I will definitely give opportunities for - Rao Chamasalam, Managernot good but cheating. Indian Contractors.- Kuna Rajah, Safety, Health & Environment - P.Venudas Ponnusamy, DirectorSupervisor MIB : Quality of work delivered and on time work completion plays vital role in selecting a vendor or contractor. We hope feedbacks from public assist Indian business community to understand their needs and work towards improvement. AUGUST 2014 |

32 ENTREPRENEUR PARTY FOR SUCCESS NAVNAwith DEEJAY BEEFounder of MUSIC STUDIO Deejay Bee with his mother Normally people organise MIB : Tell us about your Alagammah Thannirmalai party to celebrate success but this one person from business and family background? Sungai Petani, Kedah organize parties to success. Hosting a party NaVna: NAVNA MUSIC STUDIO or event can turn to be a stressful but not to NAVNA MUSIC STUDIO was formed on a very auspicious founder Mr. JeyaBalan Selvarajoo or date 7th July 2007 [07-07-07] to fondly known as Deejay Bee whom provide sound and lightings services enjoying entertaining his client’s guest only. Prior to this we operate on while ensuring the event managed part time basis under a different effectively and a memorable one. entity name taking up small projects Recently MIB fortunate enough to whenever opportunities crossed. interview the dynamic and creative As demand surge, I decided to man with a mission to be a one stop involve full time by offering complete centre for your entire event needs event management services. We without jeopardizing overall quality. are now capable of providing full We hope his journey of partying for event needs such as decorations, success inspires the young generation photography, videography, food particularly. Enjoy reading. catering, sound & lighting system, bridal make up, canopy, table, chairs, stage, “koolam”, dance| AUGUST 2014

ENTREPRENEUR 33group , entertainments, priest [Iyer],“nadhaswaram”, screen projector,pyro effects and few other services.Presently we have six full time staffsand another 24 part time crewsattached with us. I am the youngestin my family of five children with twoelder brothers and two elder sisters.All my family members are frommusic industry, my father had hisown music band with my sisters assingers and my brothers handles themusical instruments. Myself verypassionate with piano or some referas keyboard and enjoy playing it.That’s how I came into the industryfollowed by offering sound andlighting systems initially. Few yearslater I upgrade myself by attendingfew courses such as learning aboutdecorations before offering any ofthe services mentioned earlier.MIB : What are the challenges stays away from us. In order to learning curve for us that brought to salvage further loss of business, we the implementation of “Be it Goodyou faces? started to offer all related services or Bad let us do it by Ourselves.” by ourselves and recruit our ownNaVna: During our business staffs. This enable us to move up MIB : What Kind Of Marketing value chain, control quality of workat infancy stage we decided to delivered and keep our promise with Activities Your Company Do?concentrate only in supplying sound customers. It was very expensiveand lighting equipments , howeverwhen customers approach us forother related services such asphotography we outsourced thebusiness to others. Since, it wasn’tour pie and has less manpower wedecided to cooperate with othersspecialising on particular business.However, such cooperation erodeour relationship with customersand tarnished our reputationsfor the poor quality and badworkmanship delivered by ouroutsourcing partners. As we areputting our company name whenrecommending others, customers AUGUST 2014 |

34 ENTREPRENEURNaVna: Considering our strength NaVna: As I told earlier, my hobby not to get yourself involve in any unwanted activities. Get yourselfand foothold here at Johor Bahru since small is playing piano but involved in event companies like usour promotions during an event nowadays due to work commitments or get yourself trained in music andmanaged by us plays vital role most of my time taken up. Our art. It will give hand when you need it.in capturing new customers. We ways of serving less fortunate differleave pamphlets, name cards and from others. We don’t simply give MIB : Given Opportunitiesplace banners at strategic locations cash out, but rather enjoy serveduring events to answer curiosity by them. Whenever, we have free Where Would You Invest?guest attending functions. We work weekends all of us shall drove toharder to create awareness about an orphanage, so course with prior NaVna: MIB asked Deejay Bee whyourselves, so whenever time permit appointment. There our artists,us or during off peak seasons, clowns will entertain the occupants he named his business as NAVNAour vehicle move around most while rest of us will distribute cakes and should an opportunity arisepopulated areas in Johor Bahru. and sweets to make them happy. where would he invest 1) MaybankOur mascots and clowns shall walk Share 2) Buy New House 3) Gold?and entertain peoples while they MIB : What Would be Youare shopping. That attracts people The Director of NAVNA MUSICand creates brand awareness. Advice to Indian Youths? STUDIO prefers to invest his money in purchasing new houseWe constantly give attention to NaVna: Once I read an article rather than buying other equities.details, provide creative suggestion He picked his business name fromand unique atmosphere at each claiming event management the word “Navinam” which literallyof event managed. That attracts Industry worth approximately means newness.corporate marketing agencies US$500billion globally. Thiswhom in turn recommend us for industry very hugecorporate events; they become and opportunities areour linking bridge to serve Malay abundant for Indianand Chinese clients. Rest we focus youths to get involved.on family events mostly targeting Lot of them simplyIndians. come and disappear as they not doingMIB : What Is Your Hobby it properly. Even, I myself trying to doAnd How Do You Serve Less better and for that IFortunate? need lot of people to work with me. For youths, please try| AUGUST 2014



36 BRAND MANAGEMENT • by Prasath KanagarasThe Importance ofBrand ConsistencyWhen a brand is architecturally right, is it WHY IS IT IMPORTANT? important for us to look into the Brand’s performance. A brand’s performance is also Branding effort allow businesses to differentiatemeasured through its consistency. themselves through their competition and gives them a leg to stand on in the minds of consumers. It attaches aEvery business in the world, no matter its size, benefits personality and attitude to the product and the companyfrom tactically developing a brand and maintaining it that produces it. This personality is what people relateas a recognizable representation of the organization. A to, establishing relationships with consumers. This,strong brand identity propels it to the forefront of those in turn, encourages brand loyalty, which cementsconsumer attitudes, which facilitate their spending the company's future in the market. Furthermore, thedecisions. establishment of brand consistency creates a platform for the company to stand on in order to get messagesSimply put, an effective brand illustrates to the public a out to its audience.company's product or niche, and highlights what setsit apart from its competitors. It combines a number of Realistically though, establishing and maintaining amajor factors, including marketing and public relation recognizable and trusted brand is truly an art form,efforts, logo and promotional material, communication and not every company gets it right. Here are severalefforts, and core values. companies that are absolutely nailing it.| AUGUST 2014

BRAND MANAGEMENT 37There's a reason that Google, Inc. seems like it's taking Let’s look into Coco-Cola as an example. Is thereover the world. Internet users everywhere know what a more recognizable brand on the planet, with itsGoogle is and what it does. The Internet powerhouse distinctive bottle shape, typeface and red-and-whitecompany uses the same recognizable typeface and image? Also consider Nike, whose swoosh imagedesign elements across every aspect of its marketing is so familiar that you don’t even need to see theplatforms. In today's social media dominated world, company name to know what the product is.it's worth noting that Google has had a presence on Of course, most businesses haven’t been aroundevery single social networking site from the beginning. 1892, like Coco-Cola, which has had well overNow that it has a social network of its very own, the a century to get its brand right. And while Nike isGoogle logo is even more cemented in the depths of a relative newcomer on the scene, having beenthe Internet. launched in 1971, it too has lessons that can help us improve our own brand recognition and consistency.As we all know, Google has managed to keep its brandimage consistent to still be one of the most favorite and So in basic, many new businesses out there seem touseful brand in internet marketing. These paradigm change their name and their brands like they changeshifts and ingenious acquisitions played key roles in the sheets on their beds. This is what happensmorphing what started out as a simple search engine when you don’t have a clear purpose in mind.into the product and software-developing, answer- Create your brand and stick with it! And make sureseeking, Internet-dominating titan that it is today. And all your messages – in your blog, on social media,a lot of that success is thanks to its significant brand in advertisements and on your website – have thatconsistency. same consistent brand message.The value of a brand comes from consumers who We got to be consistent. We got make the brands tobelieve the value that brand makes to them. Brands be a leading brand.that don’t keep their promises through every customerinteraction are doomed to failure. The reason for this Prasath Kanagarasis a little something called trust. Brand Strategist Point Blank Mediaworks [email protected] AUGUST 2014 |

38 SINGAPORE BUSINESS NEWS SALARIES IN SINGAPORE LIKELY TO GROW 4.3% THIS YEAR: SURVEY13 SINGAPORE FIRMS WIN BESTCOMPANIES TO WORK IN ASIA AWARDS SINGAPORE: Salaries in Singapore are setThirteen companies from Singapore were announced the to rise 4.3 per cent this winners of the Best Companies to Work for in Asia Awards year, down from a 4.5 per cent 2014. The awards, organised by trade journal HR Asia, saw increase in 2013, according113 companies competing to be known as the best workplaces in to a survey released on JulySingapore and Asia, and encompass employees' feedback and 1 by professional servicesinput, as well as management comments and presentation. In total, company Towers Watson.3,000 Singaporean employees were surveyed to determine their For the rest of Asia Pacific,intention and motivation, emotional engagement and advocacy wages in Pakistan and Vietnam are expected to rise the most at 13of their respective employers.\"This is one of the most scientific per cent and 11.5 per cent, respectively. For India, salaries are likelyand extensive surveys on employee engagement and workplace to rise 10 per cent; for Indonesia, 9.6 per cent; for China, 8 per cent; forpractices in this region. \"Since embarking on the project last Hong Kong, 4.5 per cent; and for Malaysia, 5.9 per cent. New Zealandyear, HR Asia has discovered that many of these companies -- and Japan are expected to see the lowest increases with 3 per centboth local and international -- have workplace practices that are and 2.3 per cent, respectively, according to the survey. According toon par with the best in the world,\" Tan Sai Hup, Chief Operating the survey, senior personnel in Singapore’s financial services sectorOfficer of Business Media International, the publisher of HR Asia, are set to see the highest rate of increase in year-on-year salarysaid when announcing the results here. The Awards will cover 12 growth across Asia Pacific and all other industry sectors. Executivemarkets across Asia, with Malaysia, Singapore and Hong Kong directors, the most senior executive position in a financial servicesbeing the first three to announce the results. The award winners organisation, are expected to see a salary increase of 4.3 per centinclude AIA Singapore Pte Ltd, CEVA Logistics Singapore Pte Ltd, this year, compared with 2.5 per cent in 2013. Senior management,Coca-Cola Singapore Beverages Pte Ltd, Dairy Farm Singapore comprising executives who report directly to the general management,Group, Genesis Retail Pte Ltd, Jurong Health Services Pte Ltd, are expected to see a 4 per cent growth in 2014, compared with 3 perKronos Incorporated,Mandarin Oriental, Singapore, Park Hotel cent last year. “The growing number of financial institutions based inGroup, Pertamina Energy Services Pte Ltd, Singapore Exchange Singapore has led to an intensifying competition for top executivesLtd, Singapore Marriott Hotel and the Fullerton Heritage Singapore. thus resulting in the market adjustment of salaries,” said Sean Darilay, Leader of Towers Watson's Global Data Services practice in South-SINGAPORE UNVEILS SUPER WIFI East Asia. “Beyond pay strategies, organisations are trying to findREGULATIONS innovative means of attracting and retaining key talent within the total rewards portfolio, such as new ways of designing and delivering their The Infocomm Development Authority benefits.” The Towers Watson 2013-14 Asia-Pacific Salary Budget of Singapore (IDA) will be introducing Planning Report surveyed about 400 different companies across 18 a set of regulations for the use countries in the Asia-Pacific region. of spectrum in the TV White Space (TVWS) in an effort towards becoming SIA CARGO TO STOP CARRYING SHARK’S the world's first smart nation. Singapore FINS FROM AUGUST is one of the first few countries in the world to implement such a framework for S ingapore AirlinesTVWS. The regulations will make available for use approximately (SIA) Cargo will stop180 MHz of spectrum when it takes effect from November 2014. carrying shark’s finsThe regulations come after the conclusion of a public consultation from August, following similarin 2013. In a statement, Leong Keng Thai, IDA's Deputy Chief moves by other airlines in theExecutive and Director General (Telecoms and Post), said: \"The past two years. “SIA CargoTVWS regulatory framework is a step towards Singapore's vision on carried out a thorough reviewbeing the world's first Smart Nation. “Regulators all over the world which took into accountare exploring different ways to efficiently use spectrum, so that they increasing concerns aroundcan plan for their countries' future needs. \"The additional spectrum the world related to shark-finning. Following this review, SIA Cargo willto be made available through the TVWS regulatory framework will no longer accept the carriage of shark’s fins, with effect from Aug 1,”ensure that Singapore efficiently allocates and uses this available said a SIA spokesperson. A 2013 report by wildlife trade monitoringbandwidth to support the growing demand for data communication.\" network, Traffic, showed that Singapore was one of the world’s top fourTaking into account input from the industry, these regulations will exporters and the third-largest importer of shark’s fins between 2000set out the TVWS equipment requirements, spectrum channels to to 2009. Hong Kong was the world’s largest importer, responsible forbe made available for TVWS use, and how TVWS equipment should more than half of the imported shark’s fins in the same period, thecommunicate with geo-location databases to identify the available report said. Cathay Pacific, a Hong-Kong based airline, was the firstspectrum channel to use, among others. The regulations will also airline to stop carrying shark’s fins in late 2012, in response to pressureprovide business certainty to companies who intend to offer services from various environmental groups in Asia to ban such shipments.over TVWS. This signals Singapore's commitment to support Several other airlines, such as Korean, Asiana, Qantas and Air NewTVWS technology as businesses roll out innovative applications Zealand, later followed suit in enforcing restrictions or bans. Followingand solutions over TVWS. Such applications may include Machine- SIA Cargo’s policy change, Mr Alex Hofford, director of WildLifeRisk,to-Machine communications, smart metering, outdoor environment which is leading the Facebook campaign to get airlines to stopand security monitoring services. Consumers will stand to benefit carrying shark’s fins. Mr Hofford, whose conservation group is basedfrom this additional spectrum. As more Internet-capable devices are in Hong Kong, inform press that they are delighted to see SIA takeslaunched, it is necessary for more spectrum to be made available tocater for increased data consumption.| AUGUST 2014

TODAY I LEARNED 39its corporate social responsibility seriously. Ms Elaine Tan, CEO ofthe World Wide Fund for Nature (WWF) Singapore, added: “Thisis a responsible move that encourages all other airlines flying intoSingapore to follow suit. When airlines stop shipping shark’s fins, itdirectly impacts overall availability and, in turn, lowers consumption,which is a good thing. “The WWF will keep working hard with industryto remove shark’s fin altogether,” she added.HOTEL GRAND CHANCELLOR IN LITTLE MANAGEMENT LESSONSINDIA SOLD FOR S$248M FROM INDIAN MYTHOLOGY The Hotel Grand MYTHOLOGY: Chancellor in Little India, In the Ramayana, as King Ravana seriously injured Singapore has been on the battlefield Lord Rama walks towards him and with sold to an unnamed extreme humility asks, “Lord of Lanka, you abducted my wife, party for S$248 a terrible crime for which I have been forced to punish you. million, owner Hotel Now, you are no more my enemy. I see you now as you are Grand Central Ltd known across the world, as the wise son of Rishi Vishrava. I notify newsman. bow to you and request you to share your wisdom with me. Hotel Grand Central Please do that for if you die without doing so, all your wisdom said the buyer has will be lost forever to the world.” paid a deposit of “If only I had more time as your teacher than as your enemy.S$18.6 million for the 328-room 3-star hotel at Belilios Road, and Standing at my feet as a student should, unlike your rudethe transaction is expected to be completed in January next year. younger brother, you are a worthy recipient of my knowledge.Hotel Grand Chancellor, which opened in 2010, was valued at S$201 I have very little time so I cannot share much but let me tellmillion back in September 2012. you one important lesson I have learnt in my life. Things that are bad for you seduce you easily; you run towards themSINGAPORE BUSINESS CONFIDENCE DIPS impatiently. But things are actually good for you fail to attractIN Q3: REPORT you; you shun them creatively, finding powerful excuses to justify your procrastination. That is why I was impatient to Bu s i n e s s abduct Sita but avoided meeting you. This is the wisdom of confidence my life,” Ravana tells Rama before his soul departed this in Singapore world. dipped slightly in the third quarter of this LESSONS: year, sliding to +14.65 percentage points from It is easy to claim the material possessions of the defeated, but +22.66 percentage not one’s knowledge. Over the past decades, business has points in the previous been knowledge driven. People leaves out the organisation quarter. This is with vast amount of knowledge about their trade secrets, according to Singapore markets, clients including confidential information that gives Commercial Credit them competitive edge. Bureau's (SCCB) Every CEO must respect that everyone in the organisation, Business Optimism even those who he does not particularly like, are repositoriesIndex (BOI) study , which showed that local businesses were more of great wisdom – not only knowledge of things that work butcautious amid a slight drop in regional demand and uncertainty in also knowledge of things that do not work. He must makethe global economy. The quarterly study by SCCB tracks business conscious efforts to capture as much of it as possible.expectations in key areas such as net profit, volume of sales andemployment. The services and construction industries rankedamong the most optimistic sectors, according to the study. Theservices industry anticipated sales volume and net profits to remainat healthy levels, owing to higher retail sales volume and gains inthe food and beverage and electronics, watches and jewellerysectors. Meanwhile, public sector construction activities wereexpected to drive the industry, despite a tightening foreign workerpolicy keeping a lid on growth. Audrey Chia, CEO of SCCB, said:\"Recent reports of a contractionary shock in the US economy mayhave dampened business sentiments here slightly. However, theoverall BOI (Business Optimism Index) reading remains healthy andreflects positively on the resilience of SMEs against external risksand uncertainties. AUGUST 2014 |

40 MALAYSIA BUSINESS NEWSMATRADE GENERATES RM2.16 BLN SALES MALAYSIA WILL ACHIEVE 5.5 PER CENTTHROUGH MSE'S GDP GROWTH TARGET IN 2014, SAYS UOBThe Malaysia External Trade Malaysia will achieve Development Corporation its target Gross (Matrade) has successfully Domestic Productgenerated sales of RM2.16 billion from (GDP) growth of 5.5 per centthe various services clusters at the recent in 2014 with a similar growthMalaysia Services Exhibitions (MSE) likely to be registered in2014. Matrade said recognising the 2015, a regional economistimportance of Malaysia’s services sector, said. Managing Directorit had organised a series of seven MSEs, and Head of Researchwith the aim of promoting the country's and Investment Relationsservices in the international market. It of United Overseas Banksaid in a statement, among the clusters highlighted at the MSEs. was (UOB) Ltd Jimmy Koh said the projection was based on positiveconstruction and related professional services, building materials, external factors and private consumption. He told newsmen thatelectrical and electronics components, franchises, business services, most economies, at present, were performing moderately orlogistics, food, lifestyle, education and healthcare. It added that the even better than the previous year. Malaysia, with a lot of coolingMSE in Ahmedabad, India, managed to generate sales of RM116.67 measures put in place by Bank Negara to cushion the impact ofmillion, Jeddah (RM898.24 million), Doha (RM412.5 million), Beijing rising houses prices, would further support the growth of economy,(RM161 million) Phnom Penh (RM407.16 million), Jakarta (RM127.10 Koh added. The uncertainties, blown up by political issues, weremillion) and Kuala Lumpur RM36.6 million. Matrade plans two slowly being digested in the second half and this would spurmore MSEs in Yangon, in conjunction with the Showcase Malaysia economic activities, he said. Koh also added that the backlogMyanmar 2014 from Oct 1-4, and in Kenya together with the 18th in foreign investments was beginning to flow in and would pushKenya International Trade Exhibition 2014 from Oct 3-5, while inviting growth up to 5.5 per cent this year due to stable external factors.more service providers to join. In addition to collaborating with the Koh said the central bank already increase the OPR by 25 basisConstruction Industry Development Board, Matrade will organise point after the monetary policy meeting in July and may increase byanother incoming buying mission (IBS) by bringing in international another 25 basis point before the year-end. However, he said therebuyers for the International Construction Week 2014, from Sept would be no significant rise in interest rates that would jeopardise17-19. Companies interested in business meetings for the IBS can growth as Bank Negara would closely watch the impact of theseregister their interest now, it said. measures. \"Look at the Malaysia's interest rates which is now at 3.0 per cent but inflation is at about 3.5 per cent. \"What you need to do is to hike interest rates,\" he said. He also said the move wasFOUR NEW PROJECTS TO STRENGTHEN also aimed at normalising monetary conditions and preventing theHEALTH CARE - SUBRAMANIAM risk of financial imbalances which could undermine the economic recovery process. He said the long-term OPR rate in Malaysia Four new projects will be was about 3.0 per cent given the effect of inflation trajectory, implemented under the and the implementation of the Goods and Services Tax in 2015 national key economic would actually warrant a higher interest rate. He added the OPR area (NKEA) for health care to rate would hovering around 3.5 per cent to address the issue of provide more comprehensive consumer leverage and assets prices. For the long-term, he said, health services to the people as some of the measures which would be implemented, would use well as to generate the national administrative control to cushion the impact of over-pricing. economy.Health Minister Datuk Seri Dr S. Subramaniam said MALAYSIA EQUITY MART STILL HAS the new projects were entry UPSIDE POTENTIAL -- RHB RESEARCHpoint projects (EPP) on medical devices and wellbeing of seniorcitizens. It encompasses manufacturing of burn care wound device by Malaysia's equitySteriPack Asia Sdn Bhd; Establishment of Toshiba Medical Systems market still has upsideManufacturing Subsidiary in Malaysia by Toshiba Medical Systems potential and will trendCorporation, Japan, Econ Medicare Hub (Phase 1) by Econ Healthcare higher in the second half ofGroup of Singapore and Eden on The Park :Integrated Senior Active the year, said RHB ResearchLifestyle & Care Residence Resort by Eden-on-The-Park Sdn Bhd. House. In a statement,\"The four projects will give a positive impact to the gross national RHB Research said it wouldproduct amounting to RM45.9 million by 2020,\" he said when speaking maintain its year-end FTSEat the Healthcare NKEA Progress Update. Subramaniam said since Bursa Malaysia KLCI targetthe launch of the national economic transformation programme (ETP) at 1,940, which was aboutin 2010 up to December 2013, 36 projects were announced under 16.3 times the 2015 earnings.the health care NKEA. \"The projects are expected to impact the \"Improving global growth prospects and accommodative policiesgross national product by RM6.55 billion in 2020, and it could create in major world economies augur well for local equities,\" it said.26,476 new job opportunities and open new investment opportunities The research house said Bursa Malaysia was now the mostamounting to RM4.76 billion by 2020,\" he said. From 36 projects, 12 underweighted market in the region according to foreign investors.projects have been completed with the remaining in various stages of \"Indeed, Malaysia stands up as the only country in the region thatdevelopment, he said. Subramaniam said the ministry was working is on track to deliver a stronger economic growth this year andtoward attracting more private companies to invest, in line with the the only beneficiary of an oil price increase should tensions indesire of the government to make the sector more dynamic, strong Iraq escalate,\" it said. RHB Research said as the local market lackedand competitive.| AUGUST 2014

strong investment themes, investors would have to rely on stock- 41MALAYSIA BUSINESS NEWSspecific ideas to generate alpha levels that were above and beyondmarket returns to outperform. \"There is more value in growth sectors PEMANDU'S GLOBAL RECOGNITIONas economic growth was gaining momentum and would unlikely be PROVES M'SIA ON RIGHT PATH TO BECOMEderailed,\" it said. Sector-wise, the research firm said it preferred DEVELOPED NATION - PMplantation, oil and gas, construction, property and niche players withoperations based on the Sarawak Corridor of Renewable Energy. Prime Minister Datuk Seri Najib Razak expressed his confidenceWHOLESALE AND RETAIL SECTOR LIKELY that Malaysia is on the right trackCONTRIBUTE RM156 BLN TO GDP to achieve developed-nation status by 2020. He said this was because of the The wholesale and retail country's development progress following sector is expected the achievement of the Performance to contribute RM156 Management and Delivery Unit (Pemandu), billion to the country's gross which has been recognised as among domestic product (GDP) and the world's top 20 leading government create half million jobs by innovation teams. \"This ranking for 2020, says Tourism Malaysia. Pemandu, a catalyst for performance, Tourism Malaysia's Penang shows that Malaysia is on track in our director, Harun Pilus, said aspiration to achieve developed-nationthe sector has contributed 13 per cent to the country's GDP and it status. \"Malaysians, we have moved forward, from strength towas the second biggest contributor to gross national income among strength,\" he said in his posting on his Facebook and Twitter accountsthe 12 National Key Economic Areas. \"Shopping is the second today. The United Kingdom's innovation foundation, Bloombergbiggest share of tourist expenditure making it a lucrative sector Philanthropies and Nesta, in its publication, listed Pemandu asof Malaysia's tourism industry.\"Last year, out of the total receipts among the world's top innovation teams in government. Explainingof RM65.4 billion, tourist expenditure on shopping registered his vision, Najib, who is also the Finance Minister, said he hadRM19.8 billion, an increase of 6.3 per cent against the previous established Pemandu in 2009 to support the implementation of theyear,\" he said at the launch of 1Malaysia Mega Sale Carnival 2014. National Transformation Programe, which aimed to turn MalaysiaHarun said the government's assistance and support, favourable into a high-income economy by 2020. He said the programmeexchange rate, excellent infrastructure as well as retail players' targeted transformation in both the government and private sectorinnovation and healthy competition had created a vibrant shopping through the Government Transformation Programme and Economictourism.Meanwhile, Hunza Properties Bhd's executive director, Transformation Programme. \"The GTP focuses on modernisingKhor Tze Ming, said the 1Malaysia Mega Sale would stimulate how the Malaysian government operates while the ETP focusesthe local economy through high spending power of the domestic on attracting private investment, both foreign and domestic, intoconsumerism and foreign earnings. She said the retail shopping Malaysia,\" he said. The report titled 'i-teams: The teams and fundsheld the second largest share of the tourist expenditure after the making innovation happen in governments around the world', listedaccommodation sector, thus a mega sale especially around this some of the most compelling models to serve as a recommendationtime would boost tourist spending and benefit the local retailers. for other governments looking to create their own 'i-teams'. It alsoThe 1Malaysia Mega Sale Carnival starts from June 28 till Sept 1, highlighted innovation teams set up by city, regional and national2014. It offers shoppers a two-month shopping period with discount governments to deliver new solutions to complex challenges. It saidand exclusive deals. the 20 i-teams were bringing new tools, methods and practices into the heart of traditional bureaucracies, tackling a wide range of issues,TEKUN EXPECTS TO HELP MORE PEOPLE from reducing murder rates and increasing educational attainmentBECOME ENTREPRENEURS to promoting economic growth and engaging citizens in service redesign. The report stated that a number of i-teams in Asia were Tabung Ekonomi Kumpulan rising rapidly, while the greatest concentration remained in Europe Usaha Niaga Nasional (TEKUN) and North America. expects to help more people become entrepreneurs, said managing TUNE HOTELS TO INVEST US$25 MLN IN director, Datuk Abdul Rahim Hassan. KENYA HOTEL He said RM500 million was allocated this year to help entrepreneurs start Tune Hotels Group plans to invest about US$25 million for its their businesses.\"Until now, we have new hotel in Kenya, said Group Chief Executive Officer Mark distributed about half of the amount to Lankester. \"This is a new market for us in Africa and the details15,000 entrepreneurs,\" he said at a media briefing after signing of this new venture will be announce in the next two weeks,\" he told thethe memorandum of understanding (MOU) with Technology ParkMalaysia Sdn Bhd here today. So far, TEKUN has distributed loans AUGUST 2014 |to 293,000 entrepreneurs in various sectors. He said althoughthere would be no special allocation for entrepreneurs involved intechnology sector, they would be given priority. \"About 80 percent of the entrepreneurs who received TEKUN loans are involvedin services and retail sectors and 20 per cent in agriculture andtechnology,\" he said. Abdul Rahim said the loan repaymentsuccess rate was 80 per cent and for growing companies the ratewas 20 per cent. TEKUN, which was set up in 1998, has receivedan allocation of RM1.9 billion from the government.

42 MALAYSIA BUSINESS NEWS media after the launch of Tune Hotel by Deputy Minister of Energy, Green Technology and Water, Datuk Mahdzir Khalid at KLIA2 here SUBSCRIBTION FORM today. He said for the local market, the budget hotels operator also planned to open a few more hotels in Melaka, Kedah, Cyberjaya and Langkawi by the end of this year. \"The 400-room Tune Hotel KLIA2, which opened for business on May 9, has recorded about 90-95 per cent occupancy rate currently and this is very encouraging for us,\" he added. The newly-opened Tune Hotel KLIA2 has received double recognition for its green technology and energy-efficient features. The hotel has been awarded a provisional Gold Rating by Green Building Index Accreditation Panel and subsequently submitted as the first demonstration project under the Building Sector Energy Efficiency Project (BSSEP). The BSSEP is a national project implemented by the Malaysian Public Works Department in collaboration with the United Nations Development Programme and co-funded by the Global Environment Facility. Its goal is to achieve a reduction in the annual growth rate of emissions from building in Malaysia by promoting energy conversing design of new buildings. LOOK BEYOND MALAYSIA, LOCAL SMES URGED Local entrepreneurs have been urged to expand their businesses beyond Malaysia and not be too comfortable with their domestic operations. Making the call, property tycoon Tan Sri Liew Kee Sin, chairman judge of the SME Innovation Challenge 2014, said Malaysian small-and- medium enterprises (SMEs) tend to be too comfortable with their current business level given the various types of support by the government. \"They are easily satisfied with having a RM5 million market capital while the capital market of SMEs in Singapore and Hong Kong are in millions of Singapore dollars or US dollars. \"When you want to buy a piece of land in London, it will cost you 500 million pounds and with the RM5 million market capital, you are unable to make that purchase,\" he told reporters at the launch of the challenge here today. Liew, who is also Eco World Development Group Bhd Director, urged entrepreneurs to scale up their businesses to drive the economy and help Malaysia achieve high-income nation status. The competition, organised by Alliance Bank Malaysia Bhd, kicked off today in conjunction with the Young Entrepreneurs' Conference 2014, where 20 finalists will receive mentorship from top business leaders and a chance to win cash prizes of up to RM600,000.Meanwhile, online shoe seller Christy Ng, who bagged the RM250,000 grand prize at last year's challenge, urged SMEs to use the competition as their stepping stone in the industry. \"The SMEs will have nothing to lose if they join. Furthermore, it is a great platform to discover yourself and meet other great entrepreneurs,\" she said. Ng said her company's sales and orders have doubled, with the majority coming from overseas such as the United States, Canada and Australia. \"We are confident that we will do better this year not only because of the fund, but also from all the mentorship, guidance and publicity. \"Whether you win or not does not really matter because there is still a lot to gain just by joining,\" she added.| AUGUST 2014







46 QUOTES 10 INSPIRING QUOTES | AUGUST 2014

QUOTES 47The wise respond. The foolish react. You can be who you want to be,The wise think & then act. The foolish act if you stop being what others want you toand then regret. be. Live your Life Philosophy.Realize and understand the di erence between reaction What do you REALLY want to be? Do you want to be whatand response. others want you to be?Reaction is impulsive, an immediate behavioral response Are you leading your life the way you want to or are youthat comes from emotions and not intellect. Response getting carried away by doing what others want you tohappens when we think, analyze a situation and then re ect do? Most of the people regret later in life the things thatupon it. Therefore response comes from intellect. they didn't do. Traditions, customs and religion stop them from living their life and making their dreams come true.The wise succeed because instead of reacting they respond. Today, take a pledge to have no regrets in life, to live yourThey don't regret because all their actions are well thought life exactly the way you want, to adopt a philosophy for yourof. But the foolish ones react impulsively and regret it life and start living it from today.throughout their life. 7 6Whenever a problem arrives, do three First, know where you want to go.things: Face it, Fight it and Finish it. Then, go where you want to go. You are your own pilot and you can choose yourHuman react similarly to what an ostrich do when it senses Destination.danger? Imagine a pilot not knowing where he has to go. The aircraftIt ops at on the ground and tries covering its eyes and will keep hovering aimlessly in the sky with nowhere tohead. Thinking that if danger not seen , the danger will also land. Have you realized that you are a pilot – a pilot of yournot be able to see it. Running away from them or escape own life? Your airplane will take you to the destination ofthem or avoid them completely thinking that the problems your choice. But do you know where you want to go?will go away on their own. But actually, the problems chase Decide where you want your aircraft to land and y it in thatus all through our lives. That is the nature of problems, the direction.more you get scared, the more they will chase you and me.So what should we do when a problem arrives? Confront 9your problems; before they attack you, attack your problems;face them, ght them and nish them. 810 Never worry about the Past, it brings Tears. Don't think too much about the Future, it brings Fears. Live in the Present Moment with a Smile, it brings Cheers!! What happens when you regret the past? You think about all the wrongs and you feel sad, right? What happens when you start thinking too much about the future? You think about all the unforeseen dangers and fear comes along. You feel unhappy. Even though thinking about both brings only unhappiness, you keep shu ing between the two. Regretting the past and fearing the future, you forget to live the present moment. Forget them both. Live in the present moment. Wipe out the past and throw your worries about the future out of the door. Live in the 'NOW', in this moment, with joy and happiness. AUGUST 2014 |

48 FINANCE • by Rajen DevadasonCORE PRINCIPLESMOVING FROMDEBT TO RICHE$ It must be great to be rich and let the other fellow keep up appearances - Kin HubbardIt’s ironic that as planetary wealth expands year by PRINCIPLE #1 year, we still find ourselves in the odd situation of You can't get in debt if you don’t spend more than having more people worldwide being mired in debt you earn.than swimming in riches!If you belong to that sad majority, don’t despair. Everyday Also, those who grow richer over time choose toall over the world, countless people dig themselves traverse a narrower, rougher street that’s tarred without of deep pits of debt and then comfortingly realise daily, perhaps hourly, decisions to spend less than isthe same disciplines they harnessed to escape their earned.personal debt traps are also able to make them rich.Even if you aren’t in debt now, chances are good you PRINCIPLE #2aren’t happy with your present level of wealth, either. You can't help but grow rich if you always focus onAm I right? earning more than you spend.If so, I’d like you to read this article in Malaysian IndianBusiness with an open mind and a ready pen by your Anyone who takes the time to figure out the averageside. I promise you this article will be brief. That’s cost of his or her loans, in annual interest rate terms,intentional!My aim is to help you learn 8 core principles and who then compares that to the average yield onyou can start putting into practice... today. his or her savings and investment vehicles will realiseI know what it is like to be so overwhelmed by your debts our debts usually cost us more than our savings andthat more often than not you can’t sleep soundly. This investments yield us. Yes, in that regard, the deck isstate of mental disturbance can result in dramatically stacked against us! Thankfully, WISDOM will find a wayreduced daytime mental acuity, which yields even to prevail...worse financial decisions during your vertical hours.Right now, I’m going to cut through the mess and deal PRINCIPLE #3with the heart of this matter… Start paying attention to interest rates chargedThose in a state of excessive debt got there by traveling and earned.the exact same road that’s been traversed by DeepDebtors since time immemorial. That wide and smooth Those who decide enough is enough, who arepath is paved by daily decisions to spend more than fed up with incinerating hard-earned money at theis earned. I hope you will use these 8 principles to altar of consumer debt, should begin thinking andimprove your financial circumstances and, therefore, researching repayment options and strategies thatyour personal and family life! help them accelerate their repayments even as they| AUGUST 2014