Get-rich-quick ‘Bitcoin Formula’ exposed: Vincent Tan denies investing US$250m



 

Vincent Tan denies investing US$250m in get-rich-quick ‘Formula’

PETALING JAYA: Berjaya Corp Bhd founder and executive chairman Tan Sri Vincent Tan Chee Yioun (<<pic) has denied investing US$250 million in a project known as “The Formula” which allegedly promises huge profits and quick riches.

Tan said in a statement today said that the ‘The Formula’ is supposedly a share trading platform that allows trades executed through it to beat the stock market with an accuracy of 80% thereby allowing users to make huge profits.

“I refer to a current online media entitled ‘Vincent Tan gives back to the people with his latest project” wherein it is reported that I have invested US$250 million in a project known as “The Formula” with a wish to make Malaysians wealthy.

“I would like to categorically deny that I have made an investment in this project or that I am in any way involved in it and there is absolutely no truth in this report which I believe has been put out by unscrupulous persons to deceive the public,” Tan said.

Tan has reported the matter to the relevant authorities so that appropriate action can be taken and urged the public to take caution on promises of quick riches and not to fall prey to scams.

Tan said this is not the first time his name has been used in similar instances for the purpose of lending credibility to online investment scams.

On June 28 (see below), Tan exposed a dubious startup trading platform called “Bitcoin Formula” which used his name and doctored photos to promote its business.

An article claiming he had invested in and was promoting Bitcoin Formula, together with some photographs, was circulated on social media.

The article was accompanied by a few photographs, one showing Tan allegedly awarding a cheque for RM500,000 to Bitcoin Formula for winning the “Project of the Year” prize in a computer engineering “hackathon” in Kuala Lumpur, and another picture of him apparently speaking about Bitcoin Formula at a social media business summit.

Both pictures were in fact images altered with the use of photo-editing software and had originally been taken by theSun in March 2014 and January last year.

A check with the Companies Commission of Malaysia found that no company by the name of Bitcoin Formula exists.

Credit:  Kevin Deva newsdesk@thesundaily.com

‘Bitcoin Formula’ exposed

 

This picture of Tan Sri Vincent Tan speaking at the Social Economic Forum at the GK Enchanted Farm in Bulacan in the Philippines was doctored to appear as if he was promoting Bitcoin Formula

PETALING JAYA: Berjaya group founder and executive chairman Tan Sri Vincent Tan has blown the whistle on a dubious startup trading platform called “Bitcoin Formula”, which has used his name and doctored photos to promote its business.

It came to Tan’s attention that an article claiming he had invested in and was promoting Bitcoin Formula, together with some photographs, was being circulated on social media after a friend who saw it asked him if it would indeed be a good investment.

“How can it be a good investment when the operators have to resort to such dishonest ways like using my name in fake reports and doctored photographs to promote their business?” he said.

“I think anyone who invests in such a shady business will surely lose their money,” said Tan, who urged the public not to be deceived by such posts on social media.

The article about the company, that purports to promote blockchain and crypto technologies, claimed Tan had donated RM500,000 to Bitcoin Formula, a supposed financial startup by young computer engineers developing an efficient trading platform.

The article was accompanied by a few photographs, one showing Tan allegedly awarding a cheque for RM500,000 to Bitcoin Formula for winning the “Project of the Year” prize in a computer engineering “hackathon” in Kuala Lumpur, and another picture of him apparently speaking about Bitcoin Formula at a social business summit.

Both pictures were in fact images altered with the use of photo-editing software, and had originally been taken by theSun in March 2014 and January last year.

The cheque presentation photo was actually of Tan presenting a RM500,000 award to representatives of Dharma Master Cheng Yen of the Taiwan Buddhist Tzu Chi Foundation after she was named Better Malaysia Foundation’s Personality of the Year in 2015.

The other image was taken when Tan was speaking at the Social Economic Forum that was held at the GK Enchanted Farm in Bulacan, in the Philippines.

A check with the Companies Commission of Malaysia found that no company by the name of Bitcoin Formula exists.

Tan is apparently the latest prominent person whose name had been used by get-rich-quick scheme operators to scam unsuspecting people, and prominent tycoons like AirAsia founder Tan Sri Tony Fernandes and “Sugar King” Robert Kuok were among people whose names have been used by these scammers.

Tan also dismissed a Facebook article claiming that he will be donating RM525 million to Tabung Harapan Malaysia.

“There is absolutely no truth to either of these reports, that I believe have been put out by unscrupulous persons to deceive the public. I hope the public do not get fooled by these fake reports,” he added.


Credit:  Amar Shah Mohsen newsdesk@thesundaily.com

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Has Penang Island’s growth & development become a hazard to life?


  • Malaysia’s Penang Island has undergone massive development since the 1960s, a process that continues today with plans for transit and land-reclamation megaprojects.
  • The island is increasingly facing floods and landslides, problems environmentalists link to paving land and building on steep slopes.
  • This is the second in a six-part series of articles on infrastructure projects in Peninsular Malaysia.

GEORGE TOWN, Malaysia — Muddy carpets and soaked furniture lay in moldering piles on the streets of this state capital. It was Sunday morning, Oct. 29, 2017. Eight days earlier, torrents of water had poured off the steep slopes of the island’s central mountain range. Flash floods ripped through neighborhoods. A landslide killed 11 workers at a construction site for a high-rise apartment tower, burying them in mud. It was Penang Island’s second catastrophic deluge in five weeks.

Kam Suan Pheng, an island resident and one of Malaysia’s most prominent soil scientists, stepped to the microphone in front of 200 people hastily gathered for an urgent forum on public safety. Calmly, as she’s done several times before, Kam explained that the contest between Mother Earth’s increasingly fierce meteorological outbursts and the islanders’ affection for building on steep slopes and replacing water-absorbing forest and farmland with roads and buildings would inevitably lead to more tragedies.

“When places get urbanized, the sponge gets smaller. So when there is development, the excess rainwater gets less absorbed into the ground and comes off as flash floods,” she said. “The flood situation is bound to worsen if climate change brings more rain and more intense rainfall.”

Five days later it got worse. Much worse. On Nov. 4, and for the next two days, Penang was inundated by the heaviest rainfall ever recorded on the island. Water flooded streets 3.6 meters (12 feet) deep. Seven people died. The long-running civic discussion that weighed new construction against the risks of increasingly fierce ecological impediments grew more urgent. George Town last year joined an increasing number of the world’s great coastal cities — Houston, New Orleans, New York, Cape Town, Chennai, Jakarta, Melbourne, São Paulo — where the consequences are especially vivid.

The empty apartment construction  site where 11 men died in an October 2017 landslide. Image by Keith Schneider for Mongabay.

Penang’s state government and Chow Kon Yeow, its new chief minister, recognize the dilemma. Three weeks after being named in May to lead the island, Chow told two reporters from The Star newspaper that “[e]conomic growth with environmental sustainability would be an ideal situation rather than sacrificing the environment for the sake of development.”

But Chow also favors more growth. He is the lead proponent for building one of the largest and most expensive transportation projects ever undertaken by a Malaysian city: a $11.4 billion scheme that includes an underwater tunnel linking to peninsular Malaysia, three highways, a light rail line, a monorail, and a 4.8-kilometer (3-mile) gondola from the island to the rest of Penang state on the Malay peninsula.

The state plans to finance construction with proceeds from the sale of 1,800 hectares (4,500 acres) of new land reclaimed from the sea along the island’s southern shore. The Southern Reclamation Project calls for building three artificial islands for manufacturing, retail, offices, and housing for 300,000 residents.

Awarded rights to build the reclamation project in 2015, the SRS Consortium, the primary contractors, are a group of national and local construction companies awaiting the federal government’s decision to proceed. Island fishermen and their allies in Penang’s community of environmental organizations and residential associations oppose the project, and they proposed a competing transport plan that calls for constructing a streetcar and bus rapid transit network at one-third the cost. (See Mongabay –https://news.mongabay.com/2017/04/is-a-property-boom-in-malaysia-causing-a-fisheries-bust-in-penang/)

For a time the national government stood with the fishermen. Wan Junaidi Tuanku Jaafar, the former minister of natural resources and environment and a member of Barisan Nasional (BN), the ruling coalition, refused to allow the project. “The 1,800-hectare project is too massive and can change the shoreline in the area,” he told reporters. “It will not only affect the environment but also the forest such as mangroves. Wildlife and marine life, their breeding habitats will be destroyed.”

The state, and Penang Island, however, have been governed since 2008 by leaders of the Pakatan Harapan coalition, which supported the transport and reclamation mega projects. In May 2018, Pakatan Harapan routed the BN in parliamentary elections. Former prime minister Mahathir Mohamed, the leader of Pakatan Harapan, assumed power once again. Island leaders anticipate that their mega transport and reclamation projects will be approved.

It is plain, though, that last year’s floods opened a new era of civic reflection and reckoning with growth. Proof is everywhere, like the proliferation of huge blue tarps draped across flood-scarred hillsides outside of George Town’s central business district. Intended to block heavy rain from pushing more mud into apartment districts close by, the blue tarps are a distinct signal of ecological distress.

Or the flood-damaged construction sites in Tanjung Bungah, a fast-growing George Town suburb. A lone guard keeps visitors from peering through the gates of the empty apartment construction site where 11 men died in the October 2017 landslide. About a mile away, a row of empty, cracked, expensive and never-occupied hillside townhouses are pitched beside a road buckled like an accordion. The retaining wall supporting the road and development collapsed in the November 2017 flood, causing expensive property damage.

  • A row of empty, cracked, expensive and never-occupied hillside  townhouses are pitched beside a road buckled like an accordion. The retaining wall supporting the road and development collapsed in a November 2017 flood, causing extensive property damage. Image by Keith Schneider for Mongabay.

    Gurmit Singh, founder and chairman of the Centre for Environment, Technology and Development, Malaysia (CETDEM), and dean of the nation’s conservation activists, called Penang state government’s campaign for more growth and mega infrastructure development “a folly.”

    “It exceeds the carrying capacity of the island. It should never be approved,” he said in an interview in his Kuala Lumpur office.

    Singh, who is in his 70s and still active, was raised on Penang Island. He is an eyewitness to the construction that made much of his boyhood geography unrecognizable. “Everything built there now is unsustainable,” he said.

    It’s taken decades to reach that point. Before 1969, when state authorities turned to Robert Nathan and Associates, a U.S. consultancy, to draw up a master plan for economic development, Penang Island was a 293-square-kilometer (113-square-mile) haven of steep mountain forests, ample rice paddies, and fishing villages reachable only by boat.

    For most residents, though, Penang Island was no tropical paradise. Nearly one out of five working adults was jobless, and poverty was endemic in George Town, its colonial capital, according to national records.

    Nathan proposed a path to prosperity: recruiting electronics manufacturers to settle on the island and export their products globally. His plan emphasized the island’s location on the Strait of Malacca, a trading route popular since the 16th century that tied George Town to Singapore and put other big Asian ports in close proximity.

  • Sea and harbor traffic on the Strait of Malacca. Image by Keith Schneider for Mongabay.

    As a 20th century strategy focused on stimulating the economy, Nathan’s plan yielded real dividends. The island’s population nearly doubled to 755,000, according to national estimates. Joblessness hovers in the 2 percent range.

    Foreign investors poured billions of dollars into manufacturing, retail and residential development, and all the supporting port, energy, road, and water supply and wastewater treatment infrastructure. In 1960, the island’s urbanized area totaled 29.5 square kilometers (11.4 square miles), almost all of it in and immediately surrounding George Town. In 2015, the urban area had spread across 112 square kilometers (43 square miles) and replaced the mangroves, rubber plantations, rice paddies and fishing villages along the island’s northern and eastern coasts.

    There are now 220,000 homes on the island, with more than 10,000 new units added annually, according to National Property Information Center. George Town’s colonial center, which dates to its founding in 1786, was designated a UNESCO World Heritage site in 2008, like Venice and Angkor Wat. The distinction helped George Town evolve into a seaside tourist mecca. The state of Penang, which includes 751 square kilometers (290 square miles) on the Malay peninsula, attracts over 6 million visitors annually, roughly half from outside Malaysia. Most of the visitors head to the island, according to Tourism Malaysia.

    Nathan’s plan, though, did not anticipate the powerful ecological and social responses that runaway shoreline and hillside development would wreak in the 21st century. Traffic congestion in George Town is the worst of any Malaysian city. Air pollution is increasing. Flooding is endemic.

  • Blue tarps drape the steep and muddy hillsides in George Town to slow erosion during heavy rain storms. Image by Keith Schneider for Mongabay.

    Nor in the years since have Penang’s civic authorities adequately heeded mounting evidence of impending catastrophes, despite a series of government-sponsored reports calling for economic and environmental sustainability.

    Things came to a head late last year. Flooding caused thousands of people to be evacuated from their homes. Water tore at hillsides, opening the forest to big muddy wounds the color of dried blood. Never had Penang Island sustained such damage from storms that have become more frequent, according to meteorological records. Rain in November that measured over 400 millimeters (13 inches) in a day. The damage and deaths added fresh urgency and new recruits to Penang Island’s longest-running civic argument: Had the island’s growth become a hazard to life?

    George Town is far from alone in considering the answer. The 20th century-inspired patterns of rambunctious residential, industrial and infrastructure development have run headlong into the ferocious meteorological conditions of the 21st century. Coastal cities, where 60 percent of the world’s people live, are being challenged like never before by battering storms and deadly droughts. For instance, during a two-year period that ended in 2016, Chennai, India, along the Bay of Bengal, was brutalized by a typhoon and floods that killed over 400 people, and by a drought that prompted deadly protests over water scarcity. Houston drowned in a storm. Cape Town is in the midst of a two-year drought emergency.

    George Town last year joined the expanding list of cities forced by Nature to a profound reckoning. Between 2013 and mid-October 2017, according to state records, Penang recorded 119 flash floods. The annual incidence is increasing: 22 in 2013; 30 in 2016. Residents talk about a change in weather patterns for an island that once was distinguished by a mild and gentle climate but is now experiencing much more powerful storms with cyclone-force winds and deadly rain.

    Billions of dollars in new investment are at stake. Apartment towers in the path of mudslides and flash flooding rise on the north shore near George Town. Fresh timber clearing continues apace on the steep slopes of the island’s central mountain range, despite regulations that prohibit such activity. Demographers project that the island’s population could reach nearly 1 million by mid-century. That is, if the monstrous storms don’t drive people and businesses away — a trend that has put Chennai’s new high-tech corridor at risk.

    The urgency of the debate has pushed new advocates to join Kam Suan Pheng at the forefront of Penang Island’s environmental activism. One of them is Andrew Ng Yew Han, a 34-year-old teacher and documentary filmmaker whose “The Hills and the Sea” describes how big seabed reclamation projects on the island’s north end have significantly diminished fish stocks and hurt fishing villages. High-rise towers are swiftly pushing a centuries-old way of life out of existence. The same could happen to the more than 2,000 licensed fishermen and women contending with the much bigger reclamation proposals on the south coast.

    “How are they going to survive?” Han said in an interview. “This generation of fisherman will be wiped out. None of their kids want to be fisherman. Penang is holding a world fisherman conference in 2019. The city had the gall to use a picture of local fisherman as the poster. No one who’s coming here knows, ‘Hey you are reclaiming land and destroying livelihood of an entire fishing village.’”

    “We all want Penang to be progressive. To grow. To become a great city,” he adds on one of his videos. “But at whose expense? That’s the question. That’s the story I’m covering.”

  • Andrew Ng Yew Han, a 34-year-old teacher and documentary film maker whose “The Hills and the Sea” describes how big seabed reclamation projects on the island’s north end have significantly diminished fish  stocks and hurt fishing villages. Image by Keith Schneider for Mongabay.

    Another young advocate for sustainable growth is Rexy Prakash Chacko, a 26-year-old engineer documenting illegal forest clearing. Chacko is an active participant in the Penang Forum, the citizens’ group that held the big meeting on flooding last October. Nearly two years ago, he helped launch Penang Hills Watch, an online site that uses satellite imagery and photographs from residents to identify and map big cuts in the Penang hills — cuts that are illegal according to seldom-enforced state and federal laws.

    Kam Suan Pheng and other scientists link the hill clearing to the proliferation of flash flooding and extensive landslides that occur on the island now, even with moderate rainfall.

    In 1960, Malaysia anticipated a future problem with erosion when it passed the Land Conservation Act that designated much of Penang Island’s mountain forests off-limits to development. In 2007, Penang state prohibited development on slopes above an elevation of 76 meters (250 feet), and any slope with an incline greater than 25 degrees, or 47 percent.

    Images on Penang Hills Watch make it plainly apparent that both measures are routinely ignored. In 2015, the state confirmed as much when it made public a list of 55 blocks of high-rise housing, what the state called “special projects,” that had been built on hillsides above 76 meters or on slopes steeper than 25 degrees. The “special projects” encompassed 10,000 residences and buildings as tall as 45 stories.

 

Rexy Prakash Chacko, a 26-year-old engineer who helped launch Penang Hills Watch, an online site that uses satellite imagery and photographs from residents to identify and map big cuts in the Penang hills. Image by Keith Schneider for Mongabay.

“There is a lot of water coming down the hills now,” Chacko said in an interview. “It’s a lack of foresight. Planning has to take into account what happens when climate change is a factor. Clearing is happening. And in the last two years the rain is getting worse.

“You can imagine. People are concerned about this. There was so much lost from the water and the mud last year.”

Ignoring rules restricting development has consequences, as Kam Suan Pheng has pointed out since getting involved in the civic discussion about growth in 2015. After the October 2017 landslide, she noted that local officials insisted the apartment building where the 11 deaths occurred was under construction on flat ground. But, she told Mongabay, an investigation by the State Commission of Inquiry (SCI) found that the apartment construction site abutted a 60-degree slope made of granite, which is notoriously unstable when it becomes rain-saturated.

“State authorities continued to insist that development above protected hill land is prohibited,” Kam said in an email. “There is little to show that more stringent enforcement on hill slope development has been undertaken. Hopefully the findings of the SCI will serve as lessons for more stringent monitoring and enforcement of similar development projects so that the 11 lives have not been sacrificed in vain.”

 

Penang undersea tunnel developer CZC ‘duped into paying RM22mil’ at gun point?


GEORGE TOWN: The developer of the Penang undersea tunnel project claims it was duped into paying two individuals RM22mil to stop graft investigations.

Consortium Zenith Construction Sdn Bhd (CZC) senior executive director Datuk Zarul Ahmad Mohd Zulkifli (pic) said they were told that action would be taken against them if they did not pay.

“They (the duo) claimed to be the powers that be. Eventually, we found out it was not true. We were conned,” he said.

He said the company had previously followed all the rules.

“But at that particular period of time, we didn’t know what was the rule of law. It’s not bribery but the act was akin to putting a gun to my head,” he said.

Zarul Ahmad said he could not disclose the details because the case was still being investigated by the Malaysian Anti-Corruption Commission (MACC).

“I believe soon they will come out with something pertaining to those issues,” he said.

Zarul Ahmad said things were different now after the outcome of GE14 on May 9.

“On May 10, I opened my window and I took a nice breath of fresh air and it was wonderful.

“Last time, I couldn’t answer certain things but now, I can because there is freedom of speech. I know I won’t get into trouble for making statements that I want to make,” he said at a hotel here yesterday.

In March, a 37-year-old Datuk Seri was picked up by MACC for allegedly receiving RM19mil from CZC to “help settle” investigations into the controversial RM6.3bil mega project comprising an undersea tunnel and three highways.

Former chief minister Lim Guan Eng said the state government was shocked at the news that CZC allegedly paid RM19mil to an unnamed businessman and RM3mil to an MP.

Zarul Ahmad said they had provided an explanation about the incident which was accepted by the Penang government two weeks ago.

CZC, the special purpose vehicle of the Penang project, had come under the spotlight after its two senior directors were picked up to assist in MACC investigations over alleged corruption claims.

MCA deputy president Datuk Seri Dr Wee Ka Siong had raised numerous concerns about the project, including why the special pur­pose vehicle did not meet the RM381mil minimum paid-up capital requirement during the tender process.

Zarul Ahmad said they were adopting the just-in-time (JiT) philosophy, meaning the paid-up capital would only be increased when necessary.

He said 90% of the financing was done through the banks and they did not want to incur interests for nothing.

“That is the only way to reduce our cost and maximise returns.

“Why should we increase our paid-up capital to RM300mil or 400mil when we are only using a certain amount,” he said.

By Tan Sin Chow and Saran Yeoh The Star
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Don’t allow another landslide tragedy to happen !


Image result for Tanjung Bungah landslide
Image result for Tanjung Bungah landslide
Image result for Tanjung Bungah landslide

Image result for Tanjung Bungah landslide

Image result for Tanjung Bungah landslide

 

STATE exco member Jagdeep Singh Deo should stop talking only of the 76m altitude restriction and also talk of 25-degree slope gradient restriction on hillside development.

According to The Star on Labour Day, state exco member Jagdeep Singh Deo wrote in his Facebook page: “I want everyone to get their facts right during this election campaign…”, and he went on to state that the Penang government did not approve projects on land more than 76m (250 ft) above sea level.

The Penang Structure Plan clearly states that sensitive hill land is defined not only as land over 76m above sea level but also slopes of more than 25 degrees; the development of such land is restricted to “special projects” only.

Any construction on slopes of more than 25 degree contravenes the second condition. Hillside development cannot be discussed only with reference to the altitude.

For slope stability, the higher the slope face and the steeper the angle, the higher the risk of slope failure.

While the previous Barisan Nasional government here approved many such hillside developments, the record of the present state government shows that more development on sensitive hillsides have been approved.

State exco member Chow Kon Yeow, in his reply to an enquiry in the State Assembly on November 2015, revealed that 56 high-rise towers have been approved on sensitive hill land between 2008 and end-2015.

In the case of the Tanjung Bungah landslide tragedy, DAP leaders claimed that the project was on flat land when it was evident that it was built on land that was once a slope and had been cut flat.

During the earthworks stage of that project, a 20m high, 60-degree angle slope was then formed at the boundary.

It was this slope that failed and buried 11 workers alive.

Under the Hillside Development Guidelines 2012, such a slope is classified as Class Three. Submission requirements include a geo-technical report by a geo-technical engineer and a geo-technical review report by an independent checker.

At present, another proposed project above the Miami Green Resort Condominium is on Class Four land (with slopes greater than 35 degrees) which is classified as “Environmentally Sensitive Areas with Disaster Risk”.

Under the draft Penang Structure Plan 2020, no form of development is allowed on such land.

A technical review of the site by Zeezy Global, a consulting firm, found that the proposed development is on a hill, on Lot 62, with height ranges from 40m to 140m above sea level.

Almost 50% of the slopes have a gradient of more than 25 degrees, and in some areas as steep as 40 to 50 degrees. Some parts of the area designated for construction are higher than 76m.

The project consists of two 34-storey towers of serviced apartments, each with 336 units, and a 20-storey “affordable housing” tower with 197 units.

Two retention ponds larger than an Olympic-sized pool with total capacity of 5.2 millon litres on the hill are planned to cater to expected high surface run-offs during and after construction.

The existence of such a huge mass of water poses potential risks to residents if the slopes de-stabilise during or after construction, particularly if monitoring, maintenance and enforcement are weak.

Existing gunite slopes in Miami Green are not designed for additional loading.

With the new project, exertion of loads at the upper slopes could endanger the residents.

The disturbance from the construction could affect the integrity of the existing slope. No assurance has been made regarding risks of landslides or slope failures during and after construction.

In light of the Tanjung Bungah tragedy, lessons must be learned. If the local and state authorities do not have the technical capacity to implement, monitor and enforce the present hillside guidelines, a moratorium on hillside development should be imposed until such time that this problem is resolved.

The public should not be put at risk anymore. Eleven lives were lost and hopefully not in vain.

By Dr Lim Mah Hui Former Penang Island City councillor
Dr Lim says hillside development cannot be discussed only with reference to the altitude

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Penang govt rapped over hill slope development


FMT – GEORGE TOWN: The Penang Forum has repeated its call for all hillslope development to be stopped immediately, following deadly hillslope collapse ...
Geotechnical engineer Aziz Noor says the new project puts the people and the place in danger

 

Engineer: Lives at risk in Penang hill project

 

GEORGE TOWN: The DAP-led state government has turned a blind eye on the imminent danger of hill slope development, said a Tanjung Bungah resident.

At a forum-cum-press conference yesterday, geotechnical consultant Aziz Noor (pic) said building the proposed multi-storey mixed development behind the Miami Green Resort Condominium would pose a danger to the condo and its residents.

The development which has been approved on the class four hill, comprises five 29-storey building blocks, two 34-storey serviced apartments with 336 units each and one block of affordable apartments with 197 units.

Meanwhile, former Bukit Bendera MP Zairil Khir Johari, who is the Tanjong Bungah candidate for Pakatan Harapan, said the state government would review the guidelines on hill slope development. – Bernama

 


GEORGE TOWN: An engineer has sounded a warning about “imminent danger” from a new hillside development of eight tower blocks of apartments planned in an environmentally-sensitive area of Tanjung Bungah.

Geotechnical consultant Aziz Noor, speaking at a forum-cum-press conference today, accused the DAP-led state government of turning a blind eye on the imminent danger of hill slope development.

The proposed mixed development behind Miami Green Resort condominium puts the existing residence and its people in danger, he said.

The development has been approved on a 12-acre plot with a 35-degree slope on a Class Four hill, which exceeds 250 feet above sea level.

It comprises five 29-storey tower blocks, two 34-storey blocks of 336 serviced apartments each, and one block of 197 units of affordable apartments.

Aziz said that the project was not only in an environmentally sensitive area, it also contradicts the 2007 Penang Structure Plan that forbid any development above a gradient of 25-degree gradient and 250 feet above sea-level.

The design of one development does not guarantee safety. A Detailed Environmental Impact Assessment must be conducted and reviewed. This development puts the place and people in imminent danger,” he said.

Residents of the area said they had vented their frustration multiple times since November but had not received any response from the state government and Penang Island City Council.

The residents, together with the Tanjung Bunga residents association, had spoken on the matter many times, but no one seemed bothered, said one of the residents, Lim Liew Ming.

“Our lives are at risk. The upcoming development is a ticking time-bomb. Are the authorities waiting for a tragedy to happen, and only then act on it?,” she asked.

State Barisan Nasional chairman Teng Chang Yeow, who is also BN candidate for the Tanjong Bunga state seat in the general election, said the project should have been shelved from the beginning.

“We will put a stop to this. Even if we need to pay compensation,” he said.

The Barisan Nasional has pledged to declare all highland and hill slope areas of 250 feet above sea-level as permanent forest reserve.

Former Bukit Bendera MP Zairil Khir Johari, who is the Pakatan Harapan candidate for Tanjong Bunga, said the state government would review the guidelines on hill slope development.

Source:FMT.Click here to get live updates throughout the GE14 season

 

GEORGE TOWN: An MCA state leader has criticised Penang Chief Minister Lim Guan Eng over the latter’s statement that more stop-work orders have been issued against hillside development by the current state government.

State MCA Wanita chairman Tan Cheng Liang said Lim, who is also the DAP secretary-general, had “conveniently avoided” revealing the increase in number of protests in the state since 2008.

“He boasts about more stop-work orders being issued now compared to when Barisan Nasional was helming the state government.

“However, he failed to reveal that there have been more protests by Penangites against hillside development since Pakatan Rakyat took over.

“The latest is the chorus of dissatisfaction by residents of Mount Pleasure in Batu Ferringhi, objecting against approval accorded by the Penang Municipal Council (MPPP) for the construction of 21 four-storey villas and 80 two-storey bungalows there,” she said.

She said the 2008 DAP general election manifesto unveiled by Lim promised to “preserve our forest, wetlands and bio-diversity” while Pakatan Rakyat’s common policy framework stressed that the “environment must be preserved for the sustainability of future generations.”

“Just six weeks ago, Lim said in a speech that the Pakatan government was proud of its record of not approving any hillside development.

“However, the voices of disapproval by Penangites are evidence that Lim, the DAP and Pakatan are deceptive,” she claimed.

Citing examples, she said on April 8 this year, Sungai Ara residents protested against approval issued by MPPP Planning Department for two hillside development projects and in February 2009, Tanjung Bungah residents protested and submitted a memorandum calling on the state government to ban all current and future Class III and Class IV hillslope development projects.

“In view of these protests and to deliver the DAP and Pakatan’s pledge to protect the environment, I challenge Lim and the state government to issue a stop-work orders against all hillside development projects approved by MPPP,” she said in a press release yesterday.

Tan also took a swipe at Lim for focusing on luxury residences but allegedly had no regard for the poor.

“Approvals are given for exclusive housing and condominium projects on hills, but scant attention is given to low-cost housing for the poor where no low or medium cost units were constructed between 2008 to 2011,” she claimed.

On Tuesday, Lim said more stop-work orders had been issued by both local councils since 2008 compared to previously.

He said this proved that the state government was “more stringent in upholding the rule of law, demanding strict compliance with technical requirements and more unforgiving than Barisan.” – The Star

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What parents need to know about VR ?


The hottest tech in videogames is virtual reality. Find out its potential effects on kids before buying a headset.

 

VR can make you think and feel things you know aren’t real. —Dreamstime/TNS
EVERYONE who’s tried it agrees: virtual reality is mind-blowing. Once you strap on that headset, you truly believe you’re strolling on a Parisian street, careening on a roller coaster, or immersed in the human body exploring the inner workings of the oesophagus.

But for all its coolness – and its potential uses, from education to medicine – not a lot is known about how VR affects kids. Common sense Media’s new report, Virtual Reality 101: What You Need to Know About Kids and VR, co-authored by the founding director of stanford University’s virtual Human Interaction Lab, offers a first-of-its-kind overview of the expanding uses for the technology and its potential effects on kids.

Now that VR devices from inexpensive viewers to game consoles to full-scale gaming arcades are finally here – with lots more coming soon – it’s a good idea to start thinking about how to manage VR when it comes knocking at your door.

VR can make you think and feel things you know aren’t real. Other media can give you the sense of “being there” – what’s called psychological presence – but not to the extent that VR can. This unique ability is what makes it so important to understand more about the short- and long-term effects of the technology on kids. Here are some of the key findings from the report.

Even though we don’t yet have all the answers to how vR affects kids, we know enough to consider some pros and cons. And whether kids are using vR through a mobile device like Google Cardboard, on a console like the Playstation vR, on a fully tricked-out desktop rig like the Oculus Rift, or at a mall arcade, these guidelines can help you keep any vR experience your kids have safe and fun.

Pay attention to age ratings. Check the recommended age on the headset package and don’t let younger kids use products designed for older kids. The minimum age isn’t based on medical proof of adverse effects on the brain and vision, but it’s the manufacturer’s best guess as to who the product is safest for.

Choose games wisely. Because the vR game experience can be more intense than that of regular games, it’s even more important to check reviews to make sure the gameplay, the content and the subject matter are appropriate for your kid.

Keep it safe. A few precautions: Once you have the goggles on, orient yourself to the room by touching the walls; stick to short sessions until you know how you’re affected by vR; stay seated if possible; move furniture out of the way; and have a second person as a spotter.

Pay attention to feelings – both physical and emotional. If you’re feeling sick to your stomach, dizzy, drained, or sad, angry, or anxious – give it a rest for a while.

Talk about experiences. since vR feels so real, it’s an excellent time to talk through what your kid has experienced in a game. Ask what it felt like, what the differences are between vR and regular games, and how vR helps you connect to other people’s experiences by putting you in someone else’s shoes.

Find opportunities; avoid pitfalls. Don’t let your kids play vR games that mimic experiences you wouldn’t want them to have in real life, such as using violent weapons. On the other hand, take advantage of vR that exposes kids to things they wouldn’t normally get to see, feel, and learn, such as visiting a foreign country.

Keep privacy in mind. Devices that can track your movements – including eye movements – could store that data for purposes that haven’t yet been invented. — Common sense Media/Tribune news service.

Star2 Technology  by Caroline Knorr

BLOCKCHAIN beyond Bitcoin


Blockchain is beginning to enter the spotlight as organisations see uses for it over and above the cryptocurrency Bitcoin. From combating fake degrees to being able to track the origin of organic products, blockchain is proving to be a reliable solution in trust.

The underlying technology that powers cryptocurrencies like Bitcoin and ethereum is blockchain.

Creating trust in transactions Varanasi: Blockchain can be used to store verified documents so that users don’t have to keep validating important documents every time it’s submitted to a new party.

While blockchain was confined to finanin cial tech the early days, many organisations are starting to employ it in other industries because the technology is highly secure and even allows for transparency.

This encourages trust and in some cases even eliminates the need for a third party to validate the data, making it valuable to many organisations.

WITH fake doctorates and degrees becoming increasingly common, how are employers and graduates to find an efficient way to bridge the gap in trust?

According to Dr Mohamed Ariff Ameedeen, from University Malaysia Pahang (UMP), the solution could lie with blockchain technology.

As director of IBM’s Centre of excellence, which has been based in the university since 2012, he is continuously exploring novel uses for blockchain beyond cryptocurrency.

he said one of the early ideas the team was working on was a secure database that would prevent students from hacking to change their grades.

however, his team then decided to solve a more pressing issue affecting universities – fake degrees.

Mohamed Ariff said some universities are already integrating QR codes into graduates’ certificates to help validate credentials. however, even QR codes are now easily tampered with.

Taking it one step further, the UMP team created a system called Valid8, a QR code linked to a student profile secured by blockchain, which contains the student’s name, photo, title of degree and the year it was awarded.

This made tampering with the QR code pointless, as it only acted as a key to the information on the blockchain.

“even if someone used another person’s QR code, the data would clearly show it was not the person’s name or photo connected to the certificate,” he said.

he added that all the info placed on the blockchain is already publicly available so it would not compromise the students’ privacy.

Mohamed Ariff said making the data trustworthy meant time savings – as employers don’t have to contact the university to verify the certificate, they can be quicker in deciding if they should hire the job applicant.

So far, UMP has run a pilot programme with Valid8 by issuing supplementary certificates to 180 graduates from the industrial Management Faculty.

Mohamed Ariff said it took a couple of days to configure the blockchain node and a few more days to input the 180 students’ data.

“Although entering the information is relatively straightforward, migrating 15 years of old data (of earlier graduates) that includes more than just the initial four data points is going to take a bit longer,” he said.

The full-scale test for Valid8 will be the students graduating at the year-end convocation, estimated to be around 2,000.

To make the student profiles more useful, Mohamed Ariff said the team is planning to add more information such as grades, attendance, courses and maybe even disciplinary records.

“The beauty of blockchain is that it can grow with time and track a student’s academic life. imagine how much data it would have if a profile was set up for students when they entered kindergarten,” he said.

To encourage such a situation, UMP is open to collaborating with other universities that wanted to adopt blockchain for student iDs.

however, eduValue founder Barry Ew Yong warned that even a secured system has an obvious point of failure – human error.

he added that once errors entered the system there is a chance that it will be perpetuated. “Technology does not increase trust. Systems increase trust, though technology can be a useful tool to do so,” he said.

Like with UMP’s Valid8, the quality assurance startup has adopted blockchain to secure graduate certificates, using the technology to store a softcopy of the degree.

The company serves around 30 private schools, mostly tertiary schools offering up to Masters. Founded in Singapore in December 2012, it only just started employing blockchain.

he said the company uses a two stage system to ensure that only qualified students would be given certificates.

in the first stage it will help set up the standard by which students will be evaluated in order for them to graduate, and the approval process will be audited – schools found lacking will be struck off the system.

in the second stage it will vet all data being uploaded to the platform.

For UMP this is just a start – it’s also testing a blockchain based e-wallet called Xchain that students, lecturers, staff and vendors would eventually use for all transactions in UMP.

Beyond the security benefits, Mohamed Ariff said the open-nature of blockchain’s shared ledger meant the spending patterns could be analysed, making the university a giant data pool.

“With a population of 13,000 users, there’s a lot of potential data. And as a university, we love data,” he said.

Xchain is still in beta as the team is waiting to get Bank Negara to issue it an e-wallet license.

Mohamed Ariff concluded that blockchain is promising, especially for the education field, which relies on data that is open to peer review while also being trustworthy and tamper-evident.

ACADEMICIAN hu Dong, who advises Shanghai Jiaotong University’s Zero Bay incubator, said the supply chain industry could see huge advantages by having a more efficient and transparent data manto agement system.

Blockchain can be used track a product’s origin and determine if the materials were sourced as claimed, which is invaluable to sectors such as organic farming and ethical diamond mining. Also, by tracking the product’s trail along each stop on the supply chain, should an issue arise that requires a product to be recalled, the company could zero in on where the fault occurred.

For example, if a company found that the computer it’s making has a faulty hard drive, it would be able to identify which one of its factories was responsible. it then only needs to recall the computers that originated from the affected factory instead of all its products.

This would save cost as the recall will be smaller

and speed up the process which could help limit damage to the company’s reputation.

Dong, who was in Malaysia for a conference by blockchain incubator WeMerge, said the highlight of blockchain is accountability and transparency so it would create a higher degree of trust, which makes it great for smart contracts.

A smart contract can digitally facilitate, verify, or enforce the performance of a contract without the need for third parties. And if executed via blockchain, the transactions are trackable and irreversible.

He said smart contracts could ensure factories, for instance, get paid faster, as the payment can be released once the contract is verified through the blockchain instead of waiting for a third-party to process it.

Startup Eximchain, which has raised US$20mil (rM78.41mil) in funding to continue developing blockchain solutions, is offering Smart Contracts.

Its solution allows banks to verify the validity of orders and provide the necessary financing; and the transaction history can be used by suppliers to prove their reliability to buyers and rating institutions. For banker turned blockchain technologist Bobby Varanasi, limiting the technology’s application to Bitcoin is just shortsighted.

The co-founder of Thynkblynk Technologies, along with partner Parag Jain, have developed ChainTrail, a “trust platform” for storing verified documents, including education certificates, medical records and contracts.

By using ChainTrail, you don’t have to keep verifying a document each time it’s presented to a new party.

However, Varanasi said the company was not in the business of certification and that the onus was on the data provider, be it a university or bank, to ensure that the data is correct.

“A lie, once committed to blockchain, would become an immutable one,” said Jain, referring to how data can only be added but not modified on a blockchain.

To mitigate such risks, ChainTrail vets customers by validating their credentials and ensuring that they are authorised to represent stakeholders.

For instance, it would verify that a lecturer is from the university he or she claims to represent.

It also offers templates for agreements such as contracts and term sheets.

“In today’s world, lack of trust is increasingly permeating the world of trade, both politically and financially… blockchain as a tech has finally presented an opportunity to create trust amongst a variety of parties that transact with each other,” said Varanasi.

Chain of trust:

 

Built for cryptocurrency Bitcoin, blockchain is being used in innovative ways in a number of industries.

  

Basics of blockchain

LIKE a lot of complex technologies, blockchain is easier to understand once you break it down.

A blockchain is made up of a block of “transaction data” which is why it’s also called a ledger. Each block also has a hash – a string of numbers which uniquely identifies the block.

And similar to how a person has their parent’s names added to theirs, a block features a portion of the preceding block’s hash.

Put in terms of family lines, it’s like how you could tell that Amir bin Ali is the son of Ali bin Abu, who is in turn the son of Abu bin Bakar, and so on.

Basically, the hash “chains” the blocks together, by affirming their place in relation to the blocks before and after, hence the term blockchain.

Security in numbers

A key feature of blockchain is security. Blockchain runs on the paraphrased adage that you can fool some of the people some of the time, but not all the people all the time.

So rather than making it tamper-proof, blockchain is tamper-evident – this is done by making a copy of the blockchain available to all members of the network, which is why blockchain is sometimes referred to as a public ledger.

As members of the network all have a copy of the same blockchain, if anyone’s chain is compromised by a hacker, it would look different from others.

If you have ever tried to organise a movie night with an extended group of friends on a WhatsApp group, you’ll get the idea.

Say, you want to watch Marvel’s Avengers: Infinity War and get the ball rolling by choosing the day and cinema, and then ask whoever that’s interested to add their names to the list.

The original message can’t be altered as it has been sent to the group. Instead everyone adds to the data by including their names and maybe a request for a specific timeslot. This concept is called “persistence”, wherein the older data cannot be retroactively altered.

Though a cheeky friend could change the date to try to troll the group, he wouldn’t be able to hide the fact that earlier messages will show a different date. This is what makes a public ledger like the blockchain tamper-evident.

Blockchain transaction

The blockchain is stored on computers, also known as nodes, that are connected via a peer-to-peer network.

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