DAY 1 - MALAYSIA-KOREA TRADE MISSION, DAY 2 - WORKSHOP ON STRATEGIC TRADE MANAGEMENT

DAY 1 A new day dawns. Had a productive morning attending the 2024 Malaysia-Korea Trade Mission at the Renaissance Kuala Lumpur. It was a privilege to represent Malaysia as a platform for promoting Korean products to local businesses. Connecting with such a high-level delegation of South Korean companies across various sectors was extremely valuable. There's immense potential for Noma SWO Consult to explore partnerships, joint ventures, or distribution agreements with these companies eager to tap into the Malaysian market. This event offered a fantastic opportunity to expand our business network. We extend our sincere thanks to PDS Consulting and all government agencies involved for organizing this impactful trade mission.

DAY 2

Attended MYSSTCC (Malaysian Strategic Trade Control Community) Workshop on Strategic Trade Management (Industry engagement) I was representing Noma SWO Consult and Madam Hajah Tetty Henney Zulkifli in the capacity of President/Founder for Women in Governance & Technology Association Malaysia (WIGTA)

The event held at DoubleTree by Hilton brought together key stakeholders, including officials from the Ministry of Investment, Trade and Industry (MITI), MYSSTCC, and the US Embassy.

The workshop focused on the Strategic Trade Act (STA) 2010, a crucial piece of legislation often overlooked by exporters.

Compliance with the STA is essential to avoid legal repercussions. I strongly advocate for Malaysian exporters to become full members of MYSSTCC to benefit from their support and guidance.

The workshop provided valuable insights into strategic item classification, intangible technology transfer, licensing, and penalties under the STA. The informative presentations by MITI and MYSSTCC experts were complemented by engaging discussions on national security concerns, export controls, trade sanctions, screening processes, due diligence, and risk assessment.

Networking with fellow professionals and exchanging perspectives on real-world case studies enriched the overall experience.

Key takeaways from the event include:

- The importance of STA compliance for Malaysian exporters

- The benefits of MYSSTCC membership

- The need for enhanced understanding of national security implications in trade

- The critical role of due diligence and risk assessment in export control

This workshop underscores the significance of strategic trade management in safeguarding national interests while fostering responsible business practices.

Malaysia Must Be Proactive in Preparing for Future Disease Outbreaks.

The COVID-19 pandemic underscored the critical need for robust preparedness against emerging infectious diseases.

Malaysia should by now implement a comprehensive and multi-agency approach to public health.

Among key strategies that I can think of right now are :

Enhanced Border Control and Surveillance - Stricter screening of incoming travelers and foreign workers, coupled with swift quarantine and isolation measures for those from affected regions.

Comprehensive checks on animals and plants, both local and imported, should also be enforced.

Strengthened Public Health Infrastructure - Improved surveillance systems, well-trained response teams, and universal healthcare access are essential. Continuous public education on hygiene and prevention measures is crucial.

International Collaboration - Fostering partnerships with neighboring countries and global health organizations is vital for information sharing, resource allocation, and joint research on vaccines, treatments, and diagnostics.

Clear Leadership and Coordination - To ensure effective implementation, clear lines of responsibility and authority must be established. The Ministry of Health, in collaboration with other relevant agencies such as Immigration, Customs, Agriculture, and Environment, should spearhead public health and disease control efforts. Addressing challenges in healthcare resource management and personnel allocation, as experienced during the COVID-19 pandemic, is imperative.

By adopting a proactive and coordinated stance, Malaysia can significantly bolster its resilience against future health crises.

MALAKAT MALL - CYBERJAYA

 Malakat Mall Cyberjaya.

The mall was impressive, with a strong appeal that drew shoppers from as far as Gombak. This testament to its initial effective marketing - reminded me of the vibrancy of Melawati Mall and the former Ampang Park.

It's disheartening to hear the mall will be closing. I believe the pandemic's onset in March 2020, just 3 months after its opening, significantly impacted its trajectory. Businesses like mine have faced similar challenges, and recovery has been arduous.

While there have been criticisms of the management (which I can understand the frustrations), I believe the broader economic climate post-MCO played a more substantial role. Factors such as reduced consumer spending, challenges in the banking sector, and perhaps even the mall's location contributed to its difficulties. Attributing its failure solely to management is overly simplistic.

I hope the mall will revive, either under its current ownership or via a new buyer. Preserving its brand would be ideal.

Perhaps the motto or slogan need some changes or re-explanation - despite I see a fraction of non-Muslims and foreigners are shopping there as well, perhaps the slogan which was meant well originally - have blown out to proportions with race and religion insults.

(There are Kosher based business outside Malaysia and it was never a problem to other races/religions - so why bash them because they are trying to promote Muslims brand? Kelantan did it and there was never a problem of races/religion. The global trillion dollar cake for Islamic based products (Islamic Banking, Islamic Finance, Islamic Investment and so many more have been subscribed by everyone not only Muslims - so why Malakat Mall is the only one becoming a victim?)

DUE DILIGENCE ON TROUBLED COMPANIES - A SIMPLE GUIDE BY NIK ZAFRI

 BASIC PRINCIPLES OF DUE DILIGENCE (ON TROUBLED COMPANIES)

Due diligence on a troubled company requires a particularly rigorous and comprehensive approach. It involves delving deeper into potential risks and liabilities than a typical due diligence process.  See the table below - please expand further. (Remember : It's not as easy as it looks)

hashtag#DueDiligence hashtag#Audit hashtag#RiskAssessment hashtag#RiskManagement 

MAKE SOME INCOME (By Nik Zafri)

The strategies employed to invest and increase income are often complex and multifaceted when it comes to "practical".

However, I found some common themes emerge all the time which I sum up as the core investment strategies.

1) Diversification

Spreading investments across various asset classes (stocks, bonds, real estate, commodities) to reduce risk is one good move.

2) Long Term Perspective

Always focus on building income over time rather than quick gains. In short, greed will make you lose, so be patient.

3) Leverage

When you borrow, increase them on potential returns - it's risky but once you strike, it's worth. You can also get ASB loan and let them invest or reinvest for you. In the long run, you might get handsome returns

4) Get a good advice

Although Warren Buffet might not agree with me, but if you can afford it especially when you have no experience, it's logical to employ financial advisors or wealth managers to handle investments.

5) Always pay tax but optimize them

Draw up a good strategies to minimize tax liabilities but never avoid from paying tax

There are quite a number of investment vehicles.

1) Stocks and Bonds

Investing in publicly traded companies and if you have heard of government debt, go for them.

2) Real Estate

Own properties for rental income or appreciation.(REIT)

3) Private Equity and Venture Capital

Investing in startups and private companies.

4) Hedge Funds

Pooled investment funds that use various strategies to generate returns.

Alternative Investments can be purchase of assets like art, collectibles, and commodities.

Additional Soft Income-Building Sources

1) Business Ownership - Creating and growing businesses.

2) Intellectual Property - Developing and protecting patents, copyrights, and trademarks.

3) Inheritance - if you come from a rich family.

4) Risk-Taking - Pursuing high-reward, high-risk ventures.

5) Networking - Building relationships with influential people.

Also, think the way successful people think.

You must have access to information for e.g. exclusive investment opportunities and market insights

You must adopt a risk tolerance attitude - allowing yourself to pursue higher-return investments.

Have a long term perspective (Time Horizon) - enabling yourself to weather market fluctuations.

Good luck, just sharing my perspective from my so-called research. No guarantee of success unless you really work hard and do not let failure stop you. Remember, investing involves risk, and past performance is not indicative of future results. Just conduct thorough research or consult experts before making investment decisions.

REFRESHER – BRANDING – WHAT IS IT REALLY – Overview by Nik Zafri

A look back into the branding trend.

Branding is the process of creating a unique identity and image for a :

a) product,

b) service,

c) company, or organization in the consumer's mind.

It involves the use of names, logos, slogans, designs, and other elements to distinguish a brand from its competitors and to establish a presence in the market. The goal of branding is to build recognition, trust, and loyalty among customers.

There are several types of branding, each serving a different purpose:

Industries that Use Branding

Branding is essential across various industries, including but not limited to:

Retail, Consumer Goods, Food and Beverage, Technology, Healthcare, Entertainment, Fashion, Automotive, Finance, Travel and Hospitality, Real Estate

Suppliers and Consultants for Branding

Branding suppliers and consultants are typically specialized agencies or individual experts who provide services to help companies develop and manage their brands.

These services might include:

• Brand Strategy Development
• Market Research 
• Logo and Identity Design
• Brand Messaging and Positioning
• Digital Marketing and Online Branding
• Packaging Design
• Public Relations
• Advertising Campaigns
• Social Media Management
• Content Creation

These agencies often have a global presence and work with large corporations, but there are also many boutique agencies and freelance consultants who specialize in branding for smaller businesses and specific niches.

PROCESS-BASED AUDIT OR ELEMENT-BASED AUDIT?

After decades of experience in auditing, I prefer conducting "process-based" audits and assessments(as outlined core business process in my client's manual) rather than "element/clause-based audit" sequence. It makes me easier to assign specific to my auditor team based on their expertise and lots of time saving. This is a sample how I draw up my guiding principles/sort of tabular/checklist. You can fill in the blanks and expand the table to tailor it to your specific requirements or the industry you are assessing.

Kursus Pencegahan Risiko Penggubahan Wang Haram serta Pembiayaan Keganasan dan Pengurusan Dana Awam

Kursus Pencegahan Risiko Penggubahan Wang Haram serta Pembiayaan Keganasan dan Pengurusan Dana Awam

Jaringan Kerjasama Jabatan Pendaftaran Pertubuhan Malaysia, Bank Negara Malaysia dan Suruhanjaya Pencegahan Rasuah Malaysia

Ianya dihadiri oleh lebih 300 orang peserta dari NPO/NGO, Koperasi, Yayasan, kakitangan-kakitangan SPRM dan BNM dll.

Penghargaan saya kepada Presiden dan Pengasas Pertubuhan Wanita dalam Urustadbir dan Teknologi Malaysia (WIGTA), Puan Tetty Henney binti Zulkifli