DIRECTOR RESPONSIBILITY UNDER GOOD GOVERNANCE

As a Director, we need to fully understand the responsibilities, fiduciary duties, and legal accountabilities entrusted upon us under the law. It is not merely a title, but a serious obligation that requires continuous learning, awareness, and ethical governance.

It is therefore essential for Directors to actively participate (which in courses, forums, conferences, audits, assessments, and governance-related programmes involving Anti-Bribery and Anti-Corruption, Anti-Money Laundering (AML), Counter Financing of Terrorism (CFT), the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (Act 613), MACC Act (esp 17A) CCMA, corporate governance, compliance, integrity, risk management, and regulatory requirements.

Over the years, I took my own initiative to be involved in programmes and engagements with organisations and authorities such as BNM, SC, SSM, ROS, CCM and many others. (I still do) Directors should take proactive initiative to equip themselves with knowledge, compliance awareness, and governance competencies instead of waiting until enforcement authorities issue summonses, investigations, or regulatory actions. Prevention, awareness, integrity, and accountability are always better than damage control after a crisis occurs.

Good governance is not only about protecting the company, but also protecting shareholders, employees, stakeholders, public trust, and ultimately the nation's integrity and economic stability.

FAKE PROFILES AND FAKE SERVICE REQUESTS

Been dealing with a growing number of fake accounts and impersonators on my service request page lately. Most of them are not even within my network or professional circle. I’ve blocked many of these accounts, reported several, yet more continue to appear. 

Some of these are clearly the same individuals operating multiple fake LinkedIn accounts often without profile photos, using suspicious job titles, copied profiles, or recycled information from legitimate users. That’s one of the reasons why I prefer proper email communication and PMs, as it makes tracing and verification much easier.

What’s interesting is that many of these accounts appear to originate from the same country, while some pretend to be from other countries, including Malaysia. Unfortunately, online impersonation and social engineering tactics are becoming more common nowadays.

They probably assumed they were targeting an ordinary user this time. Instead, they attempted to deceive someone already familiar with cyber security, digital footprints, impersonation patterns, and verification methods.

Always verify before trusting. A professional profile does not always mean a genuine person behind it.

To everyone engaging online, please verify profiles carefully before interacting, especially when it involves business, services, or professional matters. The digital space is becoming increasingly vulnerable to scams, fake identities, and misleading accounts. Stay alert, protect your information, and always exercise caution.

PREPARING A PROPOSAL/QUOTATION - Things you need to be aware of. (from my own experience)

Disclaimer: The following tips may not apply universally to every consultant or consultancy firm. However, many of the points highlighted here represent common industry practices, professional expectations, and generic fundamentals that consultants should generally be aware of.

Different consultants may have different approaches, methodologies, and working styles depending on their field, experience, and organisational culture. Nevertheless, there are also many similarities in terms of professional conduct, commercial practices, project management, client engagement, ethics, and risk management much of which is reflected in my own experience and practice.

"Do not be too proud or talk in an arrogant manner especially if you've invited into Board Meetings, remember you're just a Consultant, not a CEO or President of a major corporation"

(I’ve seen this mistake happen before, and it can be one of the most damaging ways to engage with clients. Always remain calm and composed, especially when being grilled with questions, the client is often testing your resilience, depth of knowledge, and how you handle pressure in a crisis situation. Remember that today’s knowledge can quickly become yesterday’s. It is important to continuously update yourself with current industry developments, especially in areas such as AI and emerging technologies, to stay relevant and effective.)

PREPARING A PROPOSAL AND QUOTATION

When preparing a proposal and quotation for consultancy services whether in construction, engineering, management, ICT, ESG, training, or any other industry, it is common practice to provide a proper breakdown of the scope of work, deliverables, phases, man-days, and the corresponding cost for each item before arriving at the grand total.

At the proposal stage, you normally do not provide a full detailed schedule or execution programme yet unless the quotation has been officially approved or awarded. The quotation stage is usually part of the commercial evaluation and negotiation process. Clients are expected to negotiate on pricing, scope, duration, or deliverables, so ensure that whatever you quote remains commercially reasonable, technically justifiable, and aligned with current market practices.

Do your homework properly. Conduct market surveys, understand prevailing industry rates, benchmark competitors where possible, and ensure the value you provide matches the fee you are charging. Sometimes providing a few additional value-added services, limited advisory support, or certain minor items on an FOC basis can strengthen client confidence and improve long-term relationships.

It is also common industry practice to request a mobilization fee or upfront payment upon award confirmation. This reflects the consultant’s initial commitment cost such as travelling, accommodation, manpower preparation, preliminary site visits, documentation, insurance, and operational readiness. In some projects, the client may separately cover OPE (Out-of-Pocket Expenses), but in many cases mobilization is necessary before any substantial work begins. From a business and risk management perspective, obtaining the mobilization fee first is important to ensure commitment from both parties.

Another important point, never simply “sub-out” the entire job using your own company name if you do not possess the required competency, technical capability, or experience in the field you are quoting for. But you can collaborate with other experts/consultants in the field that you do not possess the strength. Clients today commonly conduct background screening, capability assessments, financial reviews, and technical evaluations before appointing consultants. If your documentation, experience, certifications, and procedures are genuine, there is nothing to fear.

At the same time, consultants should also conduct their own due diligence on clients discreetly and professionally. Review their company background, annual reports, financial standing, project track record, litigation history if any, ownership structure, and identify who the actual decision makers or PICs are. This is part of proper commercial risk management.

Equally important is maintaining ethical boundaries. Be cautious of red flags that may expose you to bribery, corruption, kickbacks, or disguised “facilitation payments.” Some payments may appear harmless initially but can later create legal, contractual, governance, or reputational problems. Proper documentation, transparency, and compliance with company SOPs and anti-bribery policies are extremely important.

As for marketing commissions, there is a major difference between legitimate business development arrangements and unethical inducements. In my own practice, when a marketer successfully helps secure a project, I normally compensate them through an agreed marketing commission. More importantly, I encourage them to remain involved in the project execution itself so the commission reflects actual contribution and continuing value creation. Additional payments are then tied to actual involvement, phases completed, deliverables, or man-days contributed rather than hidden transactions.

Lastly, from experience, I would strongly advise consultants to be very careful about proceeding with consultancy work, training programmes, or project execution entirely using your own funds first with the intention to “claim later,” even if you have sufficient capital reserves. In reality, this often leads to prolonged disputes over claims, delayed payments, variation disagreements, documentation arguments, strained relationships, and in some cases escalation into legal disputes or court proceedings.

A good consultancy engagement is not only about technical capability. It is also about professionalism, documentation, ethics, commercial awareness, risk management, financial discipline, and protecting both parties through clear procedures and proper agreements from the very beginning.

TWO LIVING LEGENDS OF CULINARY WORLD

 

(This is not a real photo, only AI-generated.)

I think it’s the wish of many fans, including myself, to see two world-renowned culinary icons, Robert Irvine and Gordon Ramsay , sharing the same space together. Watching two leading chefs and personalities in the food industry side by side is truly a rare and exciting moment for food lovers around the world.

Their dedication, creativity, discipline, and influence have inspired countless chefs, restaurateurs, and aspiring culinary talents globally. Beyond cooking, they have elevated the culinary profession into an art form and a respected global industry.

Moments like this remind us how food can connect cultures, inspire passion, and bring people together through excellence, innovation, and shared experience

DIGITAL BANKING AS CRITICAL INFRASTRUCTURE

Maybank stated on its website that the service disruption would last until 8.00 a.m., but it is now already 10.20 a.m. Maybank also mentioned that balance checking (limited view) was still available, yet the app shuts down almost immediately upon entry.

I had a very urgent matter and needed to carry out an important transaction about an hour ago, and I am sure many other account holders are facing the same situation. Receivers are already making noise because payments and transfers cannot be completed. In the end, I have no choice but to do things manually, and the nearest Maybank branch is about 3 km away which I had to walk (taking a bus would be too tricky) as my car is used by my son.

I believe the estimated recovery time should have been communicated more accurately instead of issuing what appears to be a generic copy-and-paste explanation. Please understand that this is a serious matter affecting many users, businesses, commitments, and urgent transactions.

Maybank has one of the most user-friendly and technologically advanced banking apps in Malaysia, which is why expectations are naturally high. A few months ago, I even advised another bank that pending maintenance, the must ensure proper backup systems not only for ATMs, but also for their banking applications and digital infrastructure themselves. I suppose it's written in your banking manual as well.

System maintenance and disruptions can happen, but timely updates, transparent communication, and reliable fallback systems are equally important in maintaining public confidence and trust. The response and my interaction :

My proposal :

DIGITAL BANKING AS CRITICAL INFRASTRUCTURE

My experience interacting with a banking service disruption has reinforced a some observations I’ve consistently raised in my advisory work with other financial institutions, particularly around ICT resilience, application architecture, and operational risk management. I've been involved in gap analysis, risk assessments, and process improvement reviews for various financial and banking-related systems. A few key reflections stand out: Some banks now enforce a strict “one device, one account” policy, limiting access to a registered mobile device and removing or restricting web-based access. While I fully understand the rationale, strengthening security against fraud, bribery, money laundering, and scam risks, it raises a practical question: Why do other banks maintain both mobile app and web access concurrently, yet still achieve strong security controls through multi-factor authentication, device binding, and behavioural monitoring? This becomes a balance between security hardening and operational accessibility, especially during service disruption scenarios. 1) Common technical challenges in banking applications Issues often arise from: - Tight coupling between frontend apps and backend services - Lack of proper failover or redundancy layers - Insufficient separation between production and maintenance environments - Rapid deployment cycles without robust rollback mechanisms These are typically solvable through stronger DevOps practices, microservices segregation, and better release governance. 2) Business continuity and backup readiness I emphasised to one bank that backup systems must extend beyond ATMs. They must also include digital banking applications, web banking platforms, payment gateways and authentication services True resilience is not just physical redundancy, it is digital continuity. 3) Maintenance and upgrade strategy in banking apps Best practice in many institutions is to avoid direct disruption of the live system by: - Running parallel environments (production vs staging) - Performing upgrades in mirrored systems - Gradually rolling out updates (blue-green deployment or canary releases) In contrast, when upgrades are performed directly on the same production instance without a parallel fallback layer, users experience full-service interruption during maintenance windows. 4) Universal View Digital banking has evolved into a critical infrastructure service. As such, expectations around uptime, transparency, and fail-safe design are now similar to utilities. Even short disruptions have immediate real-world financial impact on individuals and businesses. The key challenge moving forward is not only security vs convenience, but also resilience vs transformation speed and how well institutions balance both without compromising trust.

End users rarely see the complexity behind these systems but they always feel the impact when something breaks.

U.S.-China-Middle East Dynamics and the Emerging ASEAN Opportunity in a Multipolar Energy World - Overview by Nik Zafri

The optics of Donald Trump and Xi Jinping “seeing eye to eye” matter because the U.S. and China together still shape global trade, energy demand, manufacturing, technology supply chains, and financial confidence.

Right now, the world is watching three connected issues at once:

1. U.S.- China relations

2. The Iran/Strait of Hormuz crisis

3. Oil and shipping stability

1.0 POSSIBLE IMPACT ON THE GLOBAL ECONOMY

1.1 Short-Term Market Relief

If Trump and Xi manage to reduce tensions:

• Markets may calm temporarily

• Supply chains become more predictable

• Manufacturing confidence could improve

• Shipping insurance and freight costs may stabilize

This would especially help:

• Electronics

• Semiconductors

• Automotive manufacturing

• Commodities

• Global shipping

Investors usually react positively when the world’s two largest economies appear cooperative rather than confrontational.

However, some analysts believe this is more of a “managed rivalry” than a true alliance. Deep issues like Taiwan, tariffs, AI competition, and technology restrictions remain unresolved.

1.2 Impact on ASEAN Economies

For ASEAN, this could be both positive and risky.

a. Positive Effects

Manufacturing/FDI could increase

ASEAN may continue benefiting from:

• Supply chain diversification

• Data centre investments

• Electronics assembly

• EV and battery investments

Malaysia in particular could gain from:

• Semiconductor packaging

• Data centre expansion

• Green energy infrastructure

• Logistics and ports

If the U.S. and China manage to stabilize trade tensions, ASEAN becomes a “bridge economy” rather than a battleground.

b. Possible Negative Risks

If the Iran crisis worsens and oil spikes:

• Inflation returns

• Shipping costs surge

• Food prices rise

• Currencies weaken

• Energy-importing ASEAN nations suffer

Countries highly dependent on imported fuel could face economic pressure.

Even Malaysia, despite being an oil producer, could still experience:

• Higher transport costs

• Increased subsidy burdens

• Imported inflation

• Currency volatility

2.0 OIL CRISIS SCENARIO

The key issue is the Strait of Hormuz.

Around one-fifth of global oil and LNG passes through that narrow route. Analysts warn that prolonged disruption there could create one of the largest modern energy shocks.

If the strait remains unstable:

• Oil prices may stay above USD100/barrel

• LNG prices may surge

• Shipping insurance rises sharply

• Airlines and manufacturing suffer

• Global inflation returns

This is why even China, a major buyer of Iranian oil reportedly wants the strait reopened quickly.

3.0 WHAT COULD IRAN DO?

Iran still has several strategic tools despite sanctions and military pressure.

3.1 Likely Response

a. Pressure via shipping lanes

Iran may:

• Threaten tanker traffic

• Increase naval patrols

• Use indirect pressure on shipping routes

Even limited disruption can shock oil markets because traders react to uncertainty immediately.

3.2 Strengthen ties with China and Russia

Iran may move closer to China and Russia especially in:

• Oil trade

• Alternative payment systems

• Non-dollar settlements

Some analysts believe this accelerates a gradual move toward a more “multipolar” financial system.

3.3 Strategic patience instead of full escalation

Iran also understands:

• Closing Hormuz completely could hurt China

• China is one of its most important economic partners

• A full regional war could damage Iran internally

So Iran may prefer:

• Controlled pressure

• Symbolic retaliation

• Negotiation leverage instead of total escalation.

4.0 BIGGER LONG TERM PICTURE

The larger issue may not simply be oil. The real transformation could be:

• A shift in global trade blocs

• Reduced dependence on the U.S. dollar

• More regionalized supply chains

• ASEAN becoming strategically more important

Countries like Malaysia may benefit if they remain:

• Neutral

• Stable

• Investment-friendly

• Technologically capable

In many ways, ASEAN is becoming the “middle ground” between the U.S. and China. That gives opportunities but also pressure to balance both sides carefully.

China absolutely can talk to Iran, and in fact it may be one of the few major powers that Iran still listens to seriously.

The relationship between China and Iran is based on:

• Energy

• Trade

• Strategic diplomacy

• Shared opposition to excessive Western pressure

China buys large amounts of Iranian oil and has maintained ties even during sanctions periods.

More importantly, China has already been actively communicating with Iran in recent weeks:

• Chinese Foreign Minister Wang Yi held talks with Iranian Foreign Minister Abbas Araghchi in Beijing.

• China has publicly pushed for diplomacy, de-escalation, and reopening the Strait of Hormuz.

There are also reports that Iran recently allowed certain Chinese-linked vessels to pass through the Strait after Chinese diplomatic requests.

5.0 CHINA MATTERS TO IRAN

Iran needs China because:

• China is one of its biggest economic lifelines

• China purchases oil that others avoid

• China offers diplomatic cover at the UN

• China provides access to alternative financial systems outside the U.S. dollar system

At the same time, China needs Iran because:

• China depends heavily on Middle East energy

• Stability in Hormuz is critical for China’s economy

• A major oil shock hurts Chinese manufacturing and exports

So both countries need each other but not equally.

Iran still acts independently based on:

• Revolutionary ideology

• Domestic politics

• National security concerns

• Regional influence

China can:

• Persuade

• Deeper economical discussion

• Offer incentives

• Mediate quietly

China probably can definitely play a role on Iran as China’s main goals are:

1. Prevent a regional war

2. Keep oil flowing

3. Avoid collapse of global trade

4. Protect Chinese economic growth

5. Avoid direct military involvement

China generally prefers:

• Quiet diplomacy

• Back-channel negotiations

• Economic leverage

• Mediation

rather than open military confrontation.

That would increase China’s geopolitical influence significantly, especially across:

• The Middle East

• BRICS

• ASEAN trade networks

• Global energy markets

For ASEAN countries like Malaysia, Indonesia, Thailand, and Vietnam, this matters because regional stability and oil prices directly affect:

• Inflation

• Fuel costs

• Food prices

• Shipping

• Investment flows

• Currency strength

A calmer U.S.- China - Iran triangle would generally help ASEAN economies breathe easier.

6.0 PALESTINE

The situation is extremely complicated, and different sides tell very different stories. But many critics around the world argue that:

• further military action worsens instability in Palestine,

• civilians suffer the most,

• and the U.S. applies different standards in different conflicts.

A major source of heightened emotions internationally is that even when there are temporary truces involving Iran or Lebanon, Palestinians in Gaza and other areas still face insecurity, humanitarian hardship, displacement, and ongoing violence. Many people ask why peace efforts appear uneven or incomplete. A truce in one area does not automatically stop fighting in another.

Another issue is political trust. Negotiations involving:

• Israel,

• Hamas,

• the Palestinian Authority,

• Iran,

• the U.S.,

• Egypt,

• Qatar,

• and other regional actors

often break down because each side fears the other will use a ceasefire to regroup strategically.

There is also a humanitarian dimension. International organizations and many governments continue calling for:

• protection of civilians,

• stable humanitarian aid corridors,

• hostage and prisoner negotiations,

• and a longer-term political solution for Palestinians and Israelis.

Without a broader political settlement, temporary ceasefires tend to remain fragile.

From an economic perspective, prolonged instability affects not only the Middle East but also ASEAN through:

• higher oil prices,

• shipping disruptions,

• inflation,

• weaker investor confidence,

• and food and fuel cost increases.

That is why countries including China, Gulf states, Turki, and many ASEAN governments generally prefer deescalation and stable trade routes rather than a prolonged regional war.

7.0 ALTERNATIVE ENERGY

Alternative energy sources can reduce the world’s vulnerability to oil and gas crises especially conflicts involving the Middle East, the Strait of Hormuz, or major oil-producing countries.

Right now, much of the global economy still depends heavily on:

• oil for transport,

• gas for electricity and industry,

• and fossil fuels for manufacturing.

When war or instability disrupts supply, the effects spread everywhere:

• fuel prices rise,

• shipping becomes expensive,

• inflation increases,

• food costs climb,

• and currencies weaken.

That is why many countries are accelerating renewable and alternative energy development.

7.1 How Different Energy Sources Help?

a. Solar Energy

Solar helps because:

• sunlight is free,

• systems can be decentralized,

• and countries reduce fuel imports.

Benefits:

• Lower long-term electricity cost

• Reduced dependence on imported oil/gas

• Useful for homes, factories, and data centres

• Fast deployment compared to large power plants

Challenges:

• Weather dependency

• Battery storage needed at night

• Large land area for utility-scale farms

Countries like China have massively expanded solar manufacturing, lowering global costs dramatically.

Malaysia, Indonesia, Thailand, and Vietnam all have strong solar potential because of year-round sunlight.

b. Hydropower

Hydro is one of the oldest renewable energy sources.

Benefits:

• Stable electricity generation

• Low emissions

• Can support national grids continuously

• Reservoirs can assist water management

Challenges:

• Environmental impact

• Flooding and ecosystem disruption

• Expensive construction

• Drought vulnerability

Countries like Norway and Laos rely heavily on hydropower.

Malaysia already uses hydro significantly.

c. Geothermal Energy

Geothermal uses underground heat from the Earth.

Benefits:

• Continuous power 24/7

• Very low emissions

• Less land use compared to solar

Challenges:

• Limited to suitable geological areas

• High exploration cost

• Complex drilling

Indonesia and the Philippines are among the world’s strongest geothermal regions because of volcanic activity.

d. Waste-to-Energy (WTE)

Waste-to-energy converts:

• municipal waste,

• biomass,

• landfill gas,

• or industrial waste into usable electricity or fuel.

Benefits:

• Reduces landfill burden

• Generates electricity

• Helps urban waste management

• Can produce biogas

Challenges:

• Emission concerns

• Public opposition

• Requires strict environmental controls

This is becoming increasingly important for growing ASEAN cities.

e. Electric Transportation

Electric vehicles reduce oil demand directly. If electricity increasingly comes from renewables:

• dependence on oil drops,

• energy security improves,

• and transport becomes cleaner.

But EV growth also creates new dependencies:

• lithium,

• rare earths,

• nickel,

• battery supply chains,

• and power grid stability.

ASEAN countries like Indonesia and Malaysia are positioning themselves in the EV supply chain economy.

7.2 Why It Matters Now?

If countries depend less on imported oil:

• they become harder to economically pressure,

• inflation shocks become smaller,

• shipping disruptions matter less,

• and energy security improves.

For example:

• A solar-powered home is less affected by oil tankers being blocked.

• An EV fleet reduces national fuel imports.

• Hydropower reduces gas-fired generation needs.

This is why energy transition is now viewed not only as an environmental issue, but also:

• a national security issue,

• an economic resilience issue,

• and a geopolitical strategy.

8.0 THE REALITY : FOSSIL FUELS WILL STILL MATTER

Even with rapid renewable growth:

• oil,

• gas,

• petrochemicals,

• aviation fuel,

• shipping fuel,

• and heavy industry

still rely heavily on fossil fuels. The transition will likely take decades.

So the future is probably a mixed system:

• renewables,

• batteries,

• nuclear in some countries,

• gas as transition fuel,

• hydrogen,

• and smarter energy grids.

9.0 ASEAN’s OPPORTUNITY

ASEAN countries could benefit greatly because the region has:

• abundant sunlight,

• rivers,

• geothermal zones,

• biomass resources,

• growing manufacturing,

• and strategic shipping routes.

Countries that successfully combine:

• renewable energy,

• industrial policy,

• grid modernization,

• and political stability

may become future energy and manufacturing hubs.

10.0 CONCLUSION

The current global landscape is increasingly defined by the interaction between geopolitical tension and energy security. The relationship between the United States and China, while often described as a managed rivalry, remains the central stabilizing or destabilizing force for global trade, technology flows, and investor confidence. At the same time, instability in the Middle East, particularly around the Strait of Hormuz, continues to expose how vulnerable the global economy remains to disruptions in oil and LNG supply chains.

In this environment, countries such as China and Iran play pivotal but asymmetric roles, China as a major economic stabilizer and energy importer, and Iran as a strategic actor capable of influencing global energy routes. Their interactions, alongside U.S. policy directions, will continue to shape short-term market stability and long-term geopolitical alignment.

For ASEAN, the evolving situation presents both opportunity and risk. As global supply chains diversify away from concentrated hubs, the region through countries like ASEAN members such as Malaysia, Indonesia, Thailand, and Vietnam stands to benefit as a “middle-ground economy” attracting investment, manufacturing relocation, and digital infrastructure expansion. However, this advantage is fragile and highly sensitive to oil price volatility, shipping disruptions, and external shocks.

Looking further ahead, the global energy transition adds another layer of transformation. While fossil fuels will remain dominant for decades, the acceleration of solar, hydro, geothermal, waste-to-energy systems, and electrified transport signals a gradual shift toward a more distributed and resilient energy architecture. This transition is no longer purely environmental it is becoming a core pillar of national security and economic sovereignty.

Ultimately, the world is moving toward a more multipolar system where economic power, energy security, and geopolitical influence are increasingly interconnected. The key question is not whether instability will occur, but how effectively nations especially in ASEAN can position themselves to remain stable, neutral, and competitive amid shifting global fault lines.