Excerpts from Bernama :
October 23, 2009 18:25 PM
BUDGET: Companies Under MOF Inc And Other Viable Agencies To Be Privatised
KUALA LUMPUR, Oct 23 (Bernama) -- The government will gradually reduce its involvement in economic activities, particularly in areas where it is competing with the private sector, said Prime Minister Datuk Seri Najib Tun Razak.
Najib, who is also the Finance Minister said to ensure this, the government will privatise companies under the Minister of Finance Inc (MOF Inc) and other viable government agencies.
"The second wave of privatisation will aim to enable the companies and agencies to operate more efficiently and expand their activities.
"This will reduce their financial dependence on the government," he said when unveiling the Budget 2020 in Parliament on Friday.
According to Najib,the public-private collaboration would be enhanced to enable the private sector to spearhead economic growth.
"High impact projects by the private sector will be undertaken jointly with the government.
"The role of government is to facilitate the provision of basic infrastructure to ensure project viablily," he said.
Among the projects to be implemented in 2010 include the development of an Integrated Customs and Quarantine Complekx (CIQ) in Bukit Kayu Hitam, construction of six UITM campuses and the development of the Matrade Centre.
Najib said the private sector contribution in driving the economy would be intensified.
Towards this end, he said the government would give priority to enhancing domestic investment while encouraging local companies abroad to remit their profits and reinvest in the country.
Currently, he said the nation faced stiff competition from neighbouring countries in attracting limited foreign direct investments (FDI).
As such, he said aggressive and inovative measures must be taken, to attract and increase FDI inflow.
On another note, the Prime Minister said the government would address structural issues to provide a more conducive business environment and be a market-oriented economy.
On this, he said, local authorities would take immediate steps to facilitate registration of businesses and expedite the issuance of development orders.
He said the government had established two Commercial Division Courts to expedite the hearing of commercial cases and resolve them within nine months, compared with a longer duration previously.
"To ensure an effective delivery system, individuals and companies are only required to use a single reference number in their dealings with government agencies.
"For individuals, the initiative known as MyID, uses the MyKad number, while for companies, the MyCoID utilises the Companies Commission of Malaysia (CCM) business registration number," he explained.
On the shift towards a high-income economy, Najib said: "We need a strong foundation in research, development and commercialisation (R&D&C) activities."
Therefore, he disclosed, to strengthen R&R&C activities, the government among others will undertake measures to rationalise all research funds and grants to be more effective to achieve set targets.
The government will also establish a National Innovation Centre supported by a network of innovation excellence centres under the Ministry of Science, Technology and Innovation in collaboration with the Ministry of Higher Education.
Other measures include integrating R&D activities with patents, copyrights and trademarks registration to ensure R&D&C processes are implemented more effectively while providing small and medium enterprises (SMEs) with a tax deduction on expenses incurred in the registration of patents and trademarks in the country.
The cooperation between patent and research agencies will expedite the commercialisation of research findings.
Nik Zafri's comments :
At the current state, I boldly say, Malaysia have enough domestic savings to finance private investment. But to mobilize the private sector further, there is also a need to increased access to foreign savings. This is true that based on my findings since mid 90s, private sector have boosted up its funds in global equity markets.
I foresee the 2nd wave of privatization can lead to growth in portfolio equity investment and FDI.
After Malaysia decided to :
a) relax/liberalize the foreign equity participation (for FDI - it's still on case to case basis) and
b) Disbanding of FIC by EPU,
2nd wave of privatization is now relevant and paving its way, I foresee there is a possiblity of growth in foreign investors portfolio equity investment.
We can also expect to see growth in :
a) international fund managers (few have established Islamic funds currently)
b) more foreign stock brokerage,
c) futures brokerage
d) hiring of foreign dealers,
(some are owning 100%!! So, what's the fuss?? I think perhaps information is not properly transmitted.)
To me 2nd wave of privatization is also an indicator of Government's efforts & commitment to encourage private sector development.
This will also lead to reduction of fiscal deficit and less intervention of government in economy.
Newly privatized firms is expected to be able to finance their investment by having better access to equity markets and private debts.
On global bond issue, the best statement so far I see is from BNM's Governor Tan Sri Dr. Zeti in Bloomberg interview -who said clearly that Malaysia should make a comeback to the global bond market after 8 years of 'dissapearance' whether in conventional or sukuk bonds.
So, now, having said the abovementioned, what would be the setbacks?
The usuals - political stability - one of the most key points that foreign investment will look into...I ain't saying anything but I'm sure everyone knows about it - with only one click. It's so difficult to get everyone to agree to play a one game plan. Even the plan has been agreed uninanimously, it is still subject to scrapping.
2nd most important - the bumiputera issue. Most sensitive. More participation is required
Let's say If the plan goes well, the growth will provide a bigger pie for everyone even the bumis.
But again, this is only my personal opinion.
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BIODATA - NIK ZAFRI
* Kelantanese, Alumni of Sultan Ismail College Kelantan (SICA), Diploma (Management), IT Competency Cert, Certified Written English Professional US. Has participated in many seminars/conferences(local/international) in the capacity of trainer/lecturer and participant. Affiliations :- Council Member of Gerson Lehrman Group NY, Institute of Quality Malaysia, Malaysian Institute of Management, Malaysian Occupational Safety and Health Professionals Association, Auditor ISO 9000 IRCAUK, Auditor OHSAS 18000 (SIRIM and STS) /EMS ISO 14000:2004 and Construction Quality Assessment System (CONQUAS, CIDB (Now BCA) Singapore)
* Possesses 20 years experience/hands-on in the multi-modern management & technical disciplines (systems & methodologies) such as Knowledge Management (Hi-Impact Management/ICT Solutions), Quality (TQM/ISO), Safety Health Environment, Civil & Building (Construction), Manufacturing, Motivation & Team Building, HR, Marketing/Branding, Business Process Reengineering, Economy/Stock Market, Contracts/Project Management, Finance & Banking, etc. He was employed to international bluechips involving in national/international megaprojects such as Balfour Beatty Construction/Knight Piesold & Partners UK, MMI Insurance Group Australia, Hazama Corporation (Hazamagumi) Japan (with Mitsubishi Corporation, JA Jones US and Ho-Hup) and Sunway Construction Berhad (The Sunway Group of Companies). Among major projects undertaken : Pergau Hydro Electric Project, KLCC Petronas Twin Towers, LRT Tunnelling, KLIA, Petronas Refineries Melaka, Putrajaya Government Complex, Sistem Lingkaran Lebuhraya Kajang (SILK) etc. Once serviced SMPD Management Consultants as Associate Consultant cum Lecturer for Diploma in Management, Institute of Supervisory Management UK/SMPD JV. Currently – Associate/Visiting Consultants/Facilitators, Advisors for leading consulting firms (local and international) including project management. To name a few – TIJ Consultants Group (Malaysia and Singapore), LSB Manufacturing Solutions Sdn. Bhd. and many others.
* Ex-Resident Weekly Columnist of Utusan Malaysia (1995-1998) and have produced more than 100 articles related to ISO-9000– Management System and Documentation Models, TQM Strategic Management, Occupational Safety and Health (now OHSAS 18000) and Environmental Management Systems ISO 14000. His write-ups/experience has assisted many students/researchers alike in module developments based on competency or academics and completion of many theses. Once commended by the then Chief Secretary to the Government of Malaysia for his diligence in promoting and training the civil services (government sector) based on “Total Quality Management and Quality Management System ISO-9000 in Malaysian Civil Service – Paradigm Shift Scalar for Assessment System”
Among Nik Zafri’s clients were Adabi Consumer Industries Sdn. Bhd, The HQ of Royal Customs and Excise Malaysia, Veterinary Services Dept. Negeri Sembilan, The Institution of Engineers Malaysia, Corporate HQ of RHB, NEC Semiconductor - Klang Selangor, Prime Minister’s Department Malaysia, State Secretarial Office Negeri Sembilan, Hidrological Department KL, Asahi Kluang Johor, Tunku Mahmood (2) Primary School Kluang Johor, Consortium PANZANA, Information Technology Training Centre (ITTC) – Authorised Training Center (ATC) – University of Technology Malaysia (UTM) Kluang Branch Johor, Kluang General Hospital Johor, Kahang Timur Secondary School Johor, Sultan Abdul Jalil Secondary School Kluang Johor, Guocera Tiles Industries Kluang Johor, MNE Construction (M) Sdn. Bhd. Kota Tinggi Johor, UITM Shah Alam Selangor, Telesystem Electronics/Digico Cable (ODM/OEM for Astro), Sungai Long Industries Sdn. Bhd. (Bina Puri Group), Secura Security Printing Sdn. Bhd, ROTOL AMS Bumi Sdn. Bhd & ROTOL Architectural Services Sdn. Bhd. (ROTOL Group), Bond M & E (KL) Sdn. Bhd., Skyline Telco (M) Sdn. Bhd.,Technochase Sdn. Bhd JB, Institut Kefahaman Islam Malaysia (IKIM), Shinryo/Steamline Consortium (Petronas/OGP Power Co-Generation Plant Melaka), Hospital Universiti Kebangsaan Malaysia, Association for Retired Intelligence Operatives of Malaysia, T.Yamaichi Corp. (M) Sdn. Bhd.LSB Manufacturing Solutions Sdn. Bhd., PJZ Marine Services Sdn. Bhd., UNITAR/UNTEC (Degree in Accountacy) Cobrain Holdings Sdn. Bhd. (Managing Construction Safety & Health), Speaker for International Finance & Management Strategy (Closed Conference), Pembinaan Jaya Zira Sdn. Bhd. (ISO 9001:2008-Internal Audit for Construction Industry), Straits Consulting Engineers Sdn. Bhd. (C & S, Geotech), Malaysia Management & Science University (MSU), Innoseven Sdn. Bhd. (KVMRT MSPR8 - Internal Audit (Construction) & Awareness Workshop ISO 9001:2015 for the Construction Industry, Amiosh Resources - Lembaga Tabung Haji - Flood ERP, Amiosh Resources - Flood Risk Assessment and Management Plan - Prelim, Conceptual Design and Final Report etc.
* Has appeared for 10 consecutive series in “Good Morning Malaysia RTM TV1’ Corporate Talk Segment discussing on ISO 9000/14000 in various industries. For ICT, his inputs garnered from his expertise have successfully led to development of work-process e-enabling systems in the environments of intranet, portal and interactive web design especially for the construction and manufacturing. Some of the end products have won various competitions of innovativeness, quality, continual-improvements and construction industry award at national level. He has also in advisory capacity – involved in development and moderation of websites, portals and e-profiles for mainly corporate and private sectors, public figures etc.
Risk Based Thinking ISO 9001:2015
(The answers provided are not to be deemed as solutions but basic guidelines, please contact me for further details of consultancy and training)
Q : Do I issue NCR for Risk Identification/Assessment? (i.e. HIRARC)
A : Risk Identification/Asessment and even HIRARC itself is an assessment NOT an audit/inspection. Please do not confuse the two. When we talk about risk, the word "proactive" must always come into the picture. Risk Based Thinking in the new ISO 9001:2015 is previously known as "Preventive Action" but spoken in a wider sense.
If you are using HIRARC, then there are "marks" to denote severity and likelihood of the risk being identified. You can note suggestion or instruction for improvement based on your findings and discuss in your Management Review.
Q : I am a newbie in Risk Management, where to start on Risk Based Thinking during upgrading from the old version?
A: ISO 9001:2015 do not make it "a must" to have a full risk management. Unless it's already part of your core business process (especially planning), e.g. using HIRARC, then that's different. Look at your core business process and identify/ brainstorm the possible risk associated with every process where applicable. Using the Risk Register would be a good idea.
The reason why "Risk Based Thinking" is introduced into ISO 9001:2015 is because to reduce non-conformance and customer complaints, to justify clearly (substantiated with evidence) the Department/Unit Objectives, KPI/KRA, Balance Scorecard etc. (not simply pick up a figure from 'the sky')
Friday, March 26, 2010
Excerpts from Bernama :
Tuesday, March 16, 2010
TALAM CORPORATION BERHAD
Symbol & Code : TALAM (2259) Board : Main Industry : Properties
Put aside politics and please do not read this article if you're think I'm into politics. No way!
Taking over Talam by the Selangor Government with Tan Sri Khalid at helm for debt recovery exercise is something unexpected by many quarters.
I was curious during the preliminary stage of takeover of Talam with so much debts, disgruntled buyers of stalled housing projects, negative rumours and speculations, PN17 etc. but yet why did Tan Sri decided that this is fine by his standards? I think everyone knows who Tan Sri is and how vast is his corporate experience in the market (yes, I did take that into account as well - I noticed the familiar management styles are still maintained)
So, I keep monitoring with some assistance from friends (analysts) then, things started to move, I must say, I'm quite impressed - in such a short time - they keep the good things coming, I now see prospects of turnaround.
1) Selangor Government recovered RM50mil of the RM391.7mil owed to Talam and the money will be channelled via Qardhul Hassan Islamic Banking - an Islamic mechanisme to assist the poor among others - teaching them business and managing money via microcredit schemes.
2) 10% set aside for sand mining project
3) Bonus for more than 6500 village heads
4) Efforts to solve problems of abandoned projects by working together with private sector and government and form up a special task force, (some have been solved!! - yes there will still be dissatisfied buyers but at least something has been done which is better than nothing at all)
5) entering agreement with Menteri Besar Selangor (Inc) to settle RM241.4mil owing to the latter via disposal of properties and RM12.7mil cash - settlement is expected within six months.
Ok..is everything in order?
I browse through the corporate website and found out whatever I've written herein or in the dailies are not included in their 'annoucement' (or was it Newsroom?)
I wonder why....news of this magnitude should have been updated in their website as the investors are looking into it but again Talam may have other strategies.
a) Low profile?
b) Sleeping giant awaiting for the right time to wake up?
c) or just too busy to update?
Whatever the case maybe, Talam is worth monitoring.