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NIK ZAFRI BIN ABDUL MAJID,
CONSULTANT/TRAINER
Email: nikzafri@yahoo.com, nikzafri@gmail.com
https://nikzafri.wixsite.com/nikzafri

Kelantanese, Alumni of Sultan Ismail College Kelantan (SICA), 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 :- Network Member of Gerson Lehrman Group, Institute of Quality Malaysia, Auditor ISO 9000 IRCAUK, Auditor OHSMS (SIRIM and STS) /EMS ISO 14000 and Construction Quality Assessment System CONQUAS, CIDB (Now BCA) Singapore),

* Possesses almost 30 years of 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, MMCE 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), Mex Highway, KLIA1, KLIA2 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 – Noma SWO Consult, Amiosh Resources, Timur West Consultant Sdn. Bhd., TIJ Consultants Group (Malaysia and Singapore) 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 : Adabi Consumer Industries Sdn. Bhd, (MRP II, Accounts/Credit Control) The HQ of Royal Customs and Excise Malaysia (ISO 9000), Veterinary Services Dept. Negeri Sembilan (ISO 9000), The Institution of Engineers Malaysia (Aspects of Project Management – KLCC construction), Corporate HQ of RHB (Peter Drucker's MBO/KRA), NEC Semiconductor - Klang Selangor (Productivity Management), Prime Minister’s Department Malaysia (ISO 9000), State Secretarial Office Negeri Sembilan (ISO 9000), Hidrological Department KL (ISO 9000), Asahi Kluang Johor(System Audit, Management/Supervisory Development), Tunku Mahmood (2) Primary School Kluang Johor (ISO 9000), Consortium PANZANA (HSSE 3rd Party Audit), Lecturer for Information Technology Training Centre (ITTC) – Authorised Training Center (ATC) – University of Technology Malaysia (UTM) Kluang Branch Johor, Kluang General Hospital Johor (Management/Supervision Development, Office Technology/Administration, ISO 9000 & Construction Management), Kahang Timur Secondary School Johor (ISO 9000), Sultan Abdul Jalil Secondary School Kluang Johor (Islamic Motivation and Team Building), Guocera Tiles Industries Kluang Johor (EMS ISO 14000), MNE Construction (M) Sdn. Bhd. Kota Tinggi Johor (ISO 9000 – Construction), UITM Shah Alam Selangor (Knowledge Management/Knowledge Based Economy /TQM), Telesystem Electronics/Digico Cable(ODM/OEM for Astro – ISO 9000), Sungai Long Industries Sdn. Bhd. (Bina Puri Group) - ISO 9000 Construction), Secura Security Printing Sdn. Bhd,(ISO 9000 – Security Printing) ROTOL AMS Bumi Sdn. Bhd & ROTOL Architectural Services Sdn. Bhd. (ROTOL Group) – ISO 9000 –Architecture, Bond M & E (KL) Sdn. Bhd. (ISO 9000 – Construction/M & E), Skyline Telco (M) Sdn. Bhd. (Knowledge Management),Technochase Sdn. Bhd JB (ISO 9000 – Construction), Institut Kefahaman Islam Malaysia (IKIM – ISO 9000 & Internal Audit Refresher), Shinryo/Steamline Consortium (Petronas/OGP Power Co-Generation Plant Melaka – Construction Management and Safety, Health, Environment), Hospital Universiti Kebangsaan Malaysia (Negotiation Skills), Association for Retired Intelligence Operatives of Malaysia (Cyber Security – Arpa/NSFUsenet, Cobit, Till, ISO/IEC ISMS 27000 for Law/Enforcement/Military), T.Yamaichi Corp. (M) Sdn. Bhd. (EMS ISO 14000) LSB Manufacturing Solutions Sdn. Bhd., (Lean Scoreboard (including a full development of System-Software-Application - MSC Malaysia & Six Sigma) PJZ Marine Services Sdn. Bhd., (Safety Management Systems and Internal Audit based on International Marine Organization Standards) UNITAR/UNTEC (Degree in Accountacy – Career Path/Roadmap) 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 & Overview of version 2015), Straits Consulting Engineers Sdn. Bhd. (Full Integrated Management System – ISO 9000, OHSAS 18000 (ISO 45000) and EMS ISO 14000 for Civil/Structural/Geotechnical Consulting), Malaysia Management & Science University (MSU – (Managing Business in an Organization), Innoseven Sdn. Bhd. (KVMRT Line 1 MSPR8 – Awareness and Internal Audit (Construction), ISO 9001:2008 and 2015 overview for the Construction Industry), Kemakmuran Sdn. Bhd. (KVMRT Line 1 - Signages/Wayfinding - Project Quality Plan and Construction Method Statement ), Lembaga Tabung Haji - Flood ERP, WNA Consultants - DID/JPS -Flood Risk Assessment and Management Plan - Prelim, Conceptual Design, Interim and Final Report etc., Tunnel Fire Safety - Fire Risk Assessment Report - Design Fire Scenario), Safety, Health and Environmental Management Plans leading construction/property companies/corporations in Malaysia, Timur West Consultant : Business Methodology and System, Information Security Management Systems (ISMS) ISO/IEC 27001:2013 for Majlis Bandaraya Petaling Jaya ISMS/Audit/Risk/ITP Technical Team, MPDT Capital Berhad - ISO 9001: 2015 - Consultancy, Construction, Project Rehabilitation, Desalination (first one in Malaysia to receive certification on trades such as Reverse Osmosis Seawater Desalination and Project Recovery/Rehabilitation)

* 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. He is also one of the recipients for MOSTE Innovation for RFID use in Electronic Toll Collection in Malaysia.

Note :


TO SEE ALL ARTICLES

ON THE"LABEL" SECTION BELOW (RIGHT SIDE COLUMN), YOU CAN CLICK ON ANY TAG - TO READ ALL ARTICLES ACCORDING TO ITS CATEGORY (E.G. LABEL : CONSTRUCTION) OR GO TO THE VERY END OF THIS BLOG AND CLICK "Older Posts"


 

Showing posts with label CHINA. Show all posts
Showing posts with label CHINA. Show all posts

Wednesday, February 19, 2025

Looking back at the 10 storey building in Changsha constructed in 28 hours. Lessons that can be learned by others - Overview by Nik Zafri

Photo Source : YouTube Screenshot

Chinese company Broad Group constructed a 10-storey building in just 28 hours and 45 minutes in Changsha, China, using their prefabricated "Living Building" modular construction system. 

Let's look back at this amazing feat of engineering.




Is it safe? Yes, it follows high safety standards

1) Earthquake-resistant up to Magnitude 9.

2) Typhoon-resistant due to the lightweight yet strong stainless steel structure.

3) Uses non-toxic, fire-resistant materials.

4) Modular precision reduces human error and increases durability.

CONCLUSION

The Broad Group's technology proves that high-rise buildings can be constructed at record speed without compromising safety.

Prefabrication and modular building methods are the future of fast, sustainable construction.

This method could revolutionize disaster relief housing, urban expansion, and affordable housing solutions.











Wednesday, December 25, 2024

KERETAPI TANAH MELAYU BERHAD (KTMB) NEED TO BE REVITALIZED AS IT IS OUR NATIONAL TREASURE - Insights by Nik Zafri

Source : The Edge Malaysia


Keretapi Tanah Melayu Berhad (KTM Berhad (KTMB) is the main railway operator in Peninsular Malaysia (West Malaysia).  KTMB’s history dates back to the British colonial era since 1885 when railway lines were constructed to transport tin ore from mines to ports.

KTMB was known as the Federated Malay States Railway (Keretapi Negeri-Negeri Melayu Bersekutu) and later the Malayan Railways Administration (Pentadbiran Keretapi Tanah Melayu). It was officially named Keretapi Tanah Melayu in 1962. In 1992, KTMB was corporatized, although it remains fully owned by the Malaysian government.

KTMB serves over 100 stations across 10 states in Peninsular Malaysia and Singapore, operating on a rail network spanning 1,677 km. All KTMB tracks use metre gauge (1,000 mm), with approximately 700 km of these tracks electrified. In the fiscal year 2018, KTMB carried 39.5 million passengers and 5.7 million tonnes of cargo. (Source : Wikipedia)

As one of the oldest rail services in the region, its contributions to the nation's economy, connectivity, and industrial growth cannot be overstated.

As any other corporate entity, KTMB has had some share in problems such as  Financial struggles, Train service disruptions, Station issues and Delays.

However, KTMB with the help of the government has taken steps to address these issues, including - acquiring new train sets, preventive maintenance and has expanded and diversified its services.


LATEST EFFORTS BY THE MALAYSIAN GOVERNMENT

The Malaysian Government has implemented several initiatives to support and enhance the operations of Keretapi Tanah Melayu Berhad (KTMB).  These include: 

1. Acquisition of New Train Sets through Leasing Agreements

In August 2024, the government announced plans to acquire 62 new passenger train sets for KTMB via a leasing agreement with China. This initiative, valued at approximately RM10.7 billion, is structured over a 30-year lease period and aims to improve the quality and reliability of KTMB's services. The leasing costs encompass maintenance, repair, and operational services, ensuring sustained performance throughout the lease duration.  (Source : BERNAMA)

2. Financial Assistance and Subsidies

The government has provided substantial financial support to KTMB to fulfill its social obligations, particularly in offering affordable fares to the B40 income group. This includes subsidies to maintain low ticket prices, reflecting the government's commitment to public transportation as a social responsibility.  (Source : Ministry of Transport)

3. Infrastructure Upgrades and Modernization

Significant investments have been made to upgrade KTMB's infrastructure. Some of notable ones are :  

  • Electrification and Double Tracking Projects - Projects like the Rawang-Ipoh double tracking and electrification have been completed, enabling trains to operate at higher speeds and improving service efficiency. 
  • Gemas-Johor Bahru Electrification and Double Tracking - This ongoing project aims to enhance connectivity and reduce travel times between Gemas and Johor Bahru. Although initially expected to be completed by mid-2023, the project has been delayed to mid-2025.

 4. Collaboration with Railway Assets Corporation (RAC)

Discussions have been held regarding a potential merger between KTMB and RAC to streamline operations and improve financial sustainability. While a full merger has not been finalized, the government continues to explore ways to enhance coordination between the two entities.  (Source : The Malaysian Reserve)

5. Implementation of Green Initiatives 

The government, through RAC, has supported green initiatives by installing solar panels at various railway stations. This move aligns with national policies to promote renewable energy and reduce the carbon footprint of public transportation. 

These efforts underscore the government's commitment to revitalizing KTMB, ensuring it remains a vital component of Malaysia's public transportation network. 


HOW DO I FEEL ABOUT IT?

I feel personally being a user of KTM services for decades, there are more steps can be taken to help revitalize KTMB which require a more multifaceted strategy focusing on operational efficiency, customer satisfaction, financial sustainability, and technological advancements. 

The following can be additional points to the revitalization plan. 

1. Improve Operational Efficiency

1.1   Optimize Schedules

Analyze demand and adjust train frequencies to minimize empty runs while maximizing usage during peak hours.

1.2 Modernize Rolling Stock

  • Invest more in energy-efficient, comfortable, and high-capacity trains to enhance reliability and reduce maintenance costs.
  • Streamline Maintenance - Implement predictive maintenance using #IoT sensors to prevent breakdowns and reduce downtime. 

2. Additional Infrastructure Upgrade

2.1 Enhance Rail Tracks

Upgrade tracks for high-speed trains and improve connections to industrial hubs.

2.2 Smart Stations

More modernization of train stations with digital ticketing kiosks, real-time arrival displays, and better passenger amenities. 

2.3 Electrification 

Transition to fully electric trains where feasible to reduce fuel costs and environmental impact.

3. Financial and Policy Reforms

3.1 More Public-Private Partnerships (PPP)

Engage private sector players in funding infrastructure upgrades and service improvements.

3.2 Diversify Revenue Streams

Leverage KTMB-owned land for more commercial development, such as more malls, more offices, and more residential projects.

3.3 Subsidy and Funding

Work more with Malaysian government to secure subsidies for loss-making routes vital for rural connectivity. 

4. Enhance Customer Experience

4.1 Digital Transformation

KTM already have an app to book all the train tickets online including train, ETS, Intercity and North Komuter between Kuala Lumpur right up to Padang Besar and other destinations within their operation in Malaysia.  Unfortunately, there are still so much improvements can be made to the system based on the comments made by customers on the apps. These comments should be taken seriously, they should be gathered and implement a more effective customer feedback mechanism to address the pain points.

4.2 Safety and Cleanliness

There have been good comments by both locals and foreign tourist on this matter. KTM should maintain this branding of implementing a high standard of safety and cleanliness on trains and at stations.

5. Intercity Connectivity

The routes should be expanded to underserved regions, ensuring better national integration.

6. Freight Services 

Optimize freight services to capitalize on the rising demand for cargo transport, especially for e-commerce. 

7. Tourism Initiatives 

Partner with more tourism boards to offer scenic train routes and travel packages. At the moment Keretapi Tanah Melayu Berhad (KTMB) and Tourism Malaysia have established a robust partnership to promote rail tourism, enhancing Malaysia's appeal as a travel destination. Key collaborative initiatives include: 

7.1 "Railway to See Malaysia" Campaign" (Launched May, 2024) - which has helped in increasing passenger numbers ever since. 

7.2 Excursion Trains, Promising Perak Edition (Launched September 2024) - which has encouraged domestic and international tourists to explore Perak by train. The initiative will enhance local economic income through effective promotions and attractive packages.

Apart from that Tourism Perak, in collaboration with KTMB, launched rail tourism packages as alternative modes to attract tourists to explore Perak by train. The selection of Taiping as the launch location is significant due to the presence of Malaysia's first railway track, enhancing the historical appeal of these packages. 

7.3 Heritage Steam Locomotive Tours – Partnered with with Great Leisure Heritage Rail Sdn Bhd (GLHR), the program is to introduce the Tourism Heritage Steam Locomotive Train. Set to commence operations in January 2025, this service offers a nostalgic 380-kilometer journey from Kuala Lumpur to Butterworth, aiming to attract tourists interested in historical and cultural experiences.  (Source : The Star)

7.4 International Tourism Collaborations

In October 2017, Tourism Malaysia and KTMB launched rail packages targeting Southern Thailand. This initiative aimed to promote KTMB packages by travel agents in Southern Thailand and foster closer tourism ties between Thailand and Malaysia, commemorating the 60th anniversary of Thai-Malaysian diplomatic relations. 

These collaborative efforts between KTMB and Tourism Malaysia underscore a shared commitment to leveraging rail services as a unique and sustainable means of exploring Malaysia's rich cultural and natural heritage. 

8. Sustainability Practices 

The government, through RAC, has supported green initiatives by installing solar panels at various railway stations.

These practices can be further enhanced by adopting renewable energy sources for operations and use sustainable materials in train construction and explore selling carbon credits as a revenue stream. 

9. Foster a Skilled Workforce 

9.1 Training and Development 

Upskill employees to manage advanced technologies and deliver better customer service. 

9.2 Cultural Shift 

Promote a performance-oriented and customer-centric organizational culture.

10. Collaborate with Regional Partners

10.1 ASEAN Integration 

Collaborate with neighboring rail operators for cross-border connectivity, fostering trade and tourism within the ASEAN region. 

10.2 Knowledge Sharing 

Learn best practices from successful rail operators globally.

11. Long-Term Vision 

11.1 High-Speed Rail (HSR)

Revisit plans for high-speed rail projects that link major cities like Kuala Lumpur and Singapore. 

11.2 Smart Rail Network 

Integrate AI and big data analytics for optimizing routes, scheduling, and passenger management.

12. Conclusion

Keretapi Tanah Melayu Berhad (KTM Berhad (KTMB) is more than just a transportation provider, it’s a national heritage with a legacy deeply interwoven into Malaysia’s history and development. KTMB should be preserved in terms of its legacy for future generations while embracing modernity.

This isn't just about bailing out a struggling company, it’s about ensuring the continued relevance of a national treasure that has already given so much. Such assistance is an investment in Malaysia's future, honoring KTMB's historical contributions.

I firmly believe that KTMB can transform into a sustainable and competitive rail operator that supports Malaysia’s economic growth and urban mobility needs

Tuesday, August 25, 2015

IT HAS BEGUN



(1)






The World’s Richest People Lost Another $124 Billion on Monday
The global rout continues 
Tom Metcalf
August 25, 2015 — 6:10 AM MYT


Another $124 billion was wiped off the collective fortunes of the world’s 400 richest people today as the global selloff pushed the Standard & Poor’s 500 Index into its first correction in nearly four years.

Twenty-four billionaires saw their wealth fall by more than ten figures on Monday, including Bill Gates who dropped $3.2 billion and Jeff Bezos, who fell $2.6 billion, according to data compiled by the Bloomberg Billionaires Index.

Mexico's Carlos Slim lost $1.6 billion as his fortune fell to its lowest level since the Index began in 2012.Sliding markets worldwide have resulted in Chinese shares sinking the most since 2007, Germany's DAX falling into a bear market, and commodities reaching a 16-year low, as Brent crude plunged below $45 a barrel.

Last week’s declines had already seen the world’s 400 richest people lose $182 billion. A decline of $76 billion on Friday had put their fortunes into the red for the year-to-date.

The Bloomberg Billionaires Index takes measure of the world’s wealthiest people based on market and economic changes and Bloomberg News reporting. Each net-worth figure is updated every business day at 5:30 p.m. in New York and listed in U.S. dollars.

2.


The Independent - UK

News>Business>Business News>Frontpage




FTSE 100 loses £104 billion in value in one day as China stock slide prompts global selloff
HAZEL SHEFFIELD
Monday 24 August 2015



The FTSE 100 shed £104 billion at its lowest point on Monday, after severe losses in Chinese markets prompted a global sell-off.

Monday’s bloodbath marked the tenth day of consecutive losses on the FTSE 100, the longest straight period of decline since 2003. The index has lost around £218 billion in value in that time.

Many expected the Chinese government to take measures such as cutting interest rates or injecting liquidity to stop further losses after the Shanghai Composite Index fell nearly 12 per cent last week. No action prompted further losses of 9 per cent on Monday.




Since August 11, $5 trillion has been been wiped off global markets after China unexpectedly devalued the yuan.

The Dow Jones also plummeted more than 1000 points on opening Monday, before rebounding slightly. The S&P 500, another US stock market index, dropped 99 points, or 5 per cent.

While plunging stock indices were attributed to lack of action in Beijing, Monday’s selloff follows months of poor data. Last week, activity in Chinese factories was shown to have dropped sharply.

Declining commodity prices continue to weigh oil giants. Glencore, Shell and Rio Tinto, which are all listed on the FTSE 100, suffered the worst declines on Monday.

(3) 


$10 Trillion Gone UPDATE: Actually It Was More Like $3 Trillion
Matt Vespa | Aug 24, 2015




Editor's Note: It was originally reported that $10 trillion had been erased, but it's been revised to $3 trillion.  The post has been updated.



Monday got off to a disastrous start for the world economy.

The Dow Jones plunged 1000 points–or 6.5 percent–upon the opening bell thanks to the volatile economic situation in China.

As Cortney wrote earlier today, the market recovered roughly half of its losses by the time trading was suspended for the day.

The New York Times compiled the butcher’s bill–and it was quite steep. $3 trillion was erased from the global stock market since the June 3 peak, the Chinese Shanghai Index lost all of the gains it has made this year, European stocks dropped 5 percent or more, and the U.S. S&P 500 closed four percent down.

At the same time, many analysts knew a recalibration of our bull market bearings was due. Right now, all eyes are on government policy:

“Everything is going to be dictated by government policy,” said Kevin Kelly, the chief investment officer of Recon Capital Partners.

“Whatever noise is coming from policy makers is going to determine the next couple weeks."

”The conversation about government policy is playing into a broader debate about the global economy’s ability to continue growing without the sort of extraordinary stimulus that has become the norm in recent years."

Investors’ worries over China’s economic slowdown and a souring view of emerging economies have rattled financial markets around the world in recent days, and showed no signs of letting up. 

“There was a huge amount of negative sentiment built in this morning,” said Dan Greenhaus, the chief global strategist at BTIG.

Many analysts have said that a correction to stock market valuations was overdue after a long bull market. And it is too early to say how the financial market slump will affect the underlying global economy where goods and services are actually produced and consumed.

Many of the world’s central bankers will have a chance later this week to compare notes and discuss whether new policy steps are needed when they gather, along with finance ministers and academics, in Jackson Hole, Wyo., for the Federal Reserve Bank of Kansas City’s annual conference.

The lack of coverage about China’s economic woes is due to the fact that Tom Brady’s deflated footballs were deemed much more newsworthy. After analyzing a month’s worth of broadcasts, the Media Research Center discovered that “deflategate” received five times more coverage on the Big Three–ABC, NBC, and CBS, than China’s struggling economy:

In a month of coverage, from July 18 to Aug. 18, China’s economic situation was discussed for just 3 minutes and 11 seconds on the network evening news programs.

That coverage was entirely on CBS and ABC and even included a political story about Donald Trump that made a passing mention of China’s currency devaluation.

In contrast, ABC, CBS and NBC spent 18 minutes and 21 seconds on Brady’s appeal and courtroom appearances: more than five times more.China devalued its currency, called the Yuan, in what ABC World News Tonight with David Muir referred to as “a surprise move” on Aug. 11.

That send the Dow Jones Industrial Average down more than 200 points that day. The entire story was a mere 11 seconds long.

(4)



The Independent - UK

TUESDAY 25 AUGUST 2015

News>UK>UK Politics Frontpage

Stock up on canned food for stock market crash, warns former Gordon Brown adviser
JON STONE Monday 24 August 2015


A former adviser to Gordon Brown has urged people to stock up on canned goods and bottled water as stock markets around the world slide.

Damian McBride appeared to suggest that the stock market dip could lead to civil disorder or other situations where it would be unreasonable for someone to leave the house.

“Advice on the looming crash, No.1: get hard cash in a safe place now; don't assume banks  and cashpoints will be open, or bank cards will work,” he tweeted.

“Crash advice No.2: do you have enough bottled water, tinned goods & other essentials at home to live a month indoors? If not, get shopping.

“Crash advice No.3: agree a rally point with your loved ones in case transport and communication gets cut off; somewhere you can all head to.”

Mr McBride credited his former boss Gordon Brown with preventing a cataclysm by nationalising the banking system during the 2008 crash.

“We were close enough in 2008 (if the bank bailout hadn't worked),” he said. “and what's coming is on 20 times that scale”.

Financial markets are unstable and periodically suffer crises which can have devastating consequences for the wider economy.

China's "Black Monday" has plunged the global financial markets into chaos.

The Shanghai Composite Index, China’s most important stock market index, was down 8.45 per cent, erasing a year’s gains in a day’s trading.

The FTSE100 fell 4.5 per cent, hoping £60bn off the price of UK shares, and the Dow Jones in the US fell by over a thousand points in its first minute of trading.

Some analysts have suggested that the stock market slide could be the start of a new global financial crisis.Mr McBride’s suggestions about stocking up on canned goods, setting rally points and stocking up on bottled water were ridiculed by some users on Twitter as over the top, however.

Mr McBride was special adviser to Gordon Brown and head of communications at the Treasury for a period during the last Labour government. 

(5)


A blog about business and economics.

Aug. 24 2015 9:59 AM

China’s Stock Market Is Melting Down—and It’s Taking Markets Everywhere With It
By Alison Griswold

Friday was a rout in the stock markets; Monday is already looking worse. The Shanghai Composite index tumbled 8.5 percent—erasing the last of its gains for the year in its biggest single-day loss since 2007. European stocks have plunged nearly 5 percent. U.S. stocks nosedived at the opening bell:

The S&P 500 fell 99.1 points or 5.03 percent, the Dow sank 991 points or 6.02 percent, and the Nasdaq pitched 335 points or 7.12 percent. There is only one word for all of this, and it is yikes. Brent crude, the benchmark for oil prices worldwide, is trading below $45 a barrel for the first time in six years. Even gold, so often a “safe haven” commodity that investors pour money into during periods of economic uncertainty, is being weighed down


Despite climbing all spring, the Shanghai Composite has now erased its gains for the year. (Yahoo Finance)

What’s behind the apparent panic in the global economy?

Mostly China.

Over the past two weeks, China’s currency fell in value more than it did in the previous two decades. On top of that, all the recent economic data coming out of China seems to fundamentally contradict official reports of the country being on track for 7 percent growth. Investors and analysts have long questioned the accuracy of economic statistics produced by the Chinese government, so seeing those figures can’t have been entirely surprising.

But it’s only recently become clear how big the gap between official reports and China’s economic reality might be. And the bigger that gap, the greater the ramifications could be worldwide. In recent years, China has accounted for up to half of global growth, though it makes up just 15 percent of global output.

Per the Wall Street Journal, China is looking into stimulus measures:

The expected move to free up more funds for lending—by reducing the deposits banks must hold in reserve—is directly aimed at countering the effects of a weaker currency, which could send more funds away from Beijing’s shores.

The moves reflect an economy increasingly failing to cooperate with Chinese leaders’ playbook to control the world’s No. 2 economy.The Journal says this could happen by the end of August or in early September, most likely via a half-percentage-point reduction in reserve-requirement ratios for banks.

Another possibility is to just loosen the reserve requirements for banks that lend primarily to small and private businesses. China’s entrepreneurs have been stifled by the risk-averse tactics of many banks, which prefer to lend to state-owned companies than private, potentially higher-growth enterprises.

Theoretically, stimulating that kind of private-sector growth would be better for China in the long run than falling back on exports, its traditional economic mainstay. (The leading theory for why China’s central bank devalued the yuan is that it was trying to prop up exports.)

At the same time, as the Journal notes, these new “would-be drivers of the economy—high technology and entrepreneurship—aren’t filling the gap quickly enough.” In the meantime, expect a lot of turbulence in the global markets.Alison Griswold is a Slate staff writer covering business and economics.

(6)


AUGUST 22, 2015 9:00 PM  

ECONOMY GLOBAL INSECURITY (Bloomberg)



The world’s 400 richest people lost $182 billion this week from their collective fortunes as weak manufacturing data from China and a rout in commodities sent global markets plunging.

The weekly drop for the Bloomberg Billionaires Index, a group that includes Warren Buffett and Glencore Plc’s Ivan Glasenberg, was the biggest since tracking of the expanded list began in September 2014. The combined net worth of the index members fell by $76 billion on Friday alone, when the Standard & Poor’s 500 Index of U.S. stocks ended its worst week since 2011.

“For them that’s a fractional percentage, even though $182 billion is a big number,” said John Collins, director of investment advisory at Aspiriant, which oversees more than $8 billion for high net worth clients. “A week like this feels really bad, but when you take a step back, in a big picture view it’s not a disaster by any means.”

Friday’s losses put the world’s richest 400 into the red for the year to date. They’re now down $74 billion in 2015, with a collective net worth of $3.98 trillion.

The week’s largest setback in dollar terms was experienced by Buffett, who saw his fortune drop by $3.6 billion as Berkshire Hathaway Inc. slipped more than 5 percent. The investor is the world’s third-wealthiest person, with a fortune of $63.4 billion, according to data compiled by Bloomberg.

The slump in oil, which had its longest weekly losing streak since 1986 amid signs of an extended supply glut, contributed to $15.2 billion in losses for the world’s wealthiest energy billionaires. Continental Resources Inc. Chairman Harold Hamm saw $895 million, or 9 percent of his net worth, vanish this week.

Glencore’s Glasenberg

Glasenberg, chief executive officer of mining company Glencore Plc, lost $237 million during the week as commodity prices slid to their lowest levels in 13 years. Glencore reached a record low in London on Friday, down more than 8 percent from a week earlier, after the trading house reported its profit sank 56 percent in the first half of the year. Glasenberg’s fortune has decreased more than 40 percent in 2015, to $3.1 billion.

China’s 26 wealthiest people, pummeled by Hong Kong’s bear market and a weaker yen, lost $18.8 billion during the week. Wang Jianlin of Dalian Wanda Commercial Properties Co. was hit hardest, losing $3.5 billion.

Eleven billionaires added to their fortunes in spite of the market turmoil. The week’s biggest dollar gainer was Sun Pharmaceuticals’ Dilip Shanghvi. The world’s 39th-richest person became $467 million wealthier, elevating his net worth to $18.9 billion.

The Bloomberg Billionaires Index takes measure of the world’s wealthiest people based on market and economic changes and Bloomberg News reporting. Each net-worth figure is updated every business day at 5:30 p.m. in New York and listed in U.S. dollars.

Wednesday, February 04, 2015

TransAsia plane crashes in Taiwan river, killing at least 23 people (Source : The Guardian)



(Source)
 TRANSASIA GE325

Dramatic footage shows regional airliner clipping taxi cab and bridge minutes after takeoff



Footage of TransAsia Airways plane crashing.



A TransAsia Airways flight in Taiwan carrying 58 passengers and crew careened past buildings, clipped a highway and crashed into a shallow stream, killing at least 23 people.

TransAsia GE 235, a domestic flight from Taipei to Kinmen – a small archipelago near mainland China – crashed at 10.56am local time, according to Taiwan’s aviation council, about three minutes after it took off. Astonishing dash-cam videos posted online showed the turboprop ATR 72-600 aircraft in its final airborne moments, turning vertical over a highway and clipping a taxi cab and a bridge with its left wing.




Rescuers are searching into the night for 20 missing people, after 15 were pulled alive from the wreckage.

“Several fire engines, ambulances, water craft and almost 170 rescue staff have been dispatched,” said a press release by the Taiwanese Central Disaster Response Centre. Local TV stations broadcasted footage of rescue workers in life vests and yellow helmets surrounding the plane’s fuselage in inflatable rafts.

At the moment, things don’t look too optimistic,” said Wu Jun-hong, a Taipei Fire Department official who was coordinating the rescue, according to the Associated Press. “Those in the front of the plane are likely to have lost their lives.”

The driver of the clipped taxi cab “has been sent to a local hospital”, an assistant to the Crown Taxi Company’s general manager who identified himself as Mr Yang told the Guardian.

“He has head injury and concussion, but all of his vital signs are stable.” Yang added that the company planned to raise the topic of compensation with TransAsia Airways at a later date.

Rescuers carry out rescue operations after a TransAsia plane crashed into a river in New Taipei City. Photograph: Pichi Chuang/Reuters

The last communication from one of the aircraft’s pilots was “Mayday Mayday engine flameout”, according to an air traffic control recording on liveatc.net.

A flameout occurs when the fuel supply to the engine is interrupted or when there is faulty combustion, resulting in an engine failure.

The flight’s black box has been recovered, according to local media.

“Weather conditions were good and the pilot had 14,000 hours of flying hours and the co-pilot 4,000 hours,” Lin Zhiming, a representative from Taiwan’s Civil Aviation Authority, told reporters on Wednesday afternoon.

Among the passengers were 31 mainland Chinese tourists, travelling with two local travel agencies: Teyung Group, and Flying Tours.


Lin Liqing, manager of the Teyung Group, said that she had just arrived in Taipei to help with the handling of the incident.

“We are currently heading to the crash site and checking the passenger list with TransAsia Airways,” Lin said. She added that the passengers had been sent to eight local hospitals, and that she had not yet been able to visit them.

The manager of Flying Tours said that among 15 mainland Chinese tourists on the plane who were travelling with the agency, he had only confirmed one injured passenger – one of the two infants on board. He had no information on the remaining 14 people.

On Wednesday afternoon, the Taiwanese broadcaster TVBS showed rescuers pulling a toddler alive from the wreckage and rushing him or her to safety.

The chief executive of TransAsia, Chen Xinde, has publicly apologised for the crash.


Wednesday’s crash is the second by a TransAsia flight within the past six months — in July 2014, TransAsia flight ATR-72 crashed while attempting to land in the Penghu Islands soon after a typhoon, killing 48 people. The cause of the crash is still under investigation.

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Our deepest condolences to friends and family of the passengers and crew members including those who are affected by this sad tragedy.

Our hearts are with you.

Congratulations to the Rescue Team for the prompt action saving so many survivors and those who are hurt.

(Nik Zafri & Family - Kuala Lumpur - Malaysia)



Sunday, November 17, 2013

KAJIAN RINGKAS EKONOMI DUNIA 2014 - NIK ZAFRI


KDNK untuk Asia diunjurkan melebihi purata 6.2% pada tahun 2014. Faktor yang mempengaruhi angka ini ialah keadaan tidak menentu di Filipina, India, Indonesia, Thailand dan Taiwan - kemungkinan besar akan disebabkan oleh kekurangan peluang pekerjaan dan jurang pendapatan sebagaimana jangkaan Forum Ekonomi Dunia. 

India diunjurkan akan berhadapan dengan sedikit penurunan ke KDNK 4.7%. Begitu juga dengan Filipina. Kerajaan India bekerja keras untuk mengimbangkan peluang kerja dan pembangunan industri. Di samping itu, Reserve Bank of India telah menurunkan Kadar Kemudahan Piawai Marginal -50 poin asas ke 9%.

Foto Bencana Alam di Filipina (Washington Post)

Walaubagaimanapun India dan Filipina berisiko dilanda bencana alam yang mungkin akan mengganggugugat aktiviti ekonominya.

Diunjurkan ekonomi Singapura dan Korea akan berlaku sedikit peningkatan manakala China, Hong Kong, Vietnam dan Malaysia tidak mengalami apa-apa perubahan yang ketara. 

KDNK Malaysia diunjurkan 5% (Foto : boothopia wordpress)

'Shutdown' di Amerika Syarikat (US) mungkin akan membuka ruang antara Republikan dan Demokrat untuk berbincang kembali mengenai siling hutang negara. Namun Kongres mengambil langkah berjaga-jaga dengan sebarang keputusan. Dijangka kata putus perlu dicapai pada bulan Disember, 2013 atau pada 15 Januari, 2014.

                                                                                    Shutdown di US (Foto : bbc)


Jepun telah mengisytiharkan kenaikan GST ke 3% pada tahun 2014 dan bagi memastikan kestabilan ekonominya, lebih USD50 billion (5 Trillion Yen) pakej rangsangan telah diperuntukkan. Ini termasuklah siri pelepasan cukai dan rumah kos rendah.

Program 'bailout' di Eropah, Sepanyol, Greece dan Ireland berjalan agak lancar. Portugal pula mengumumkan pakej EUR 3.2 billion bagi mencapai sasaran defisit belanjawan bagi memastikan program 'bailout' nya akan berjaya.

Program Bailout (Foto : zerohedge)

China disasarkan akan berkembang KDNKnya hampir atau melebihi 7.8% setahun hasil pelepasan cukai dan pelaburan dalam industri 'railway'