Good time to invest in property now


Better upside: (from left) Knight Frank Sdn Bhd international project marketing (residential) senior manager Dominic Heaton-Watson, Knight Frank Asia-Pacific research head Nicholas Holt, Sarkunan and capital markets executive director James Buckley at the event

KUALA LUMPUR: The slowdown in the local property market has bottomed out, with prices seen picking up later this year, according to property consultancy firm Knight Frank Sdn Bhd.

“We predict a stable rate in 2017 and we will possibly see better upside towards the end of the year or early next year,” Knight Frank managing director Sarkunan Subramaniam said.

“The market has had a few years of contraction and we feel that this year, what will clear up one of the major concerns of most investors is the political uncertainty,” he said at the launch of Knight Frank’s 2017 Wealth Report here yesterday.

According to the report, “political uncertainty” was among the top concerns of its respondents in Asia at 25%.

“We’re going to have elections possibly this year. Once they have cleared, there will be positive movement in the market and that’s why I feel now is a good time to buy property in Malaysia.

“Once the elections are out, the economy will generally start picking up and sentiments will improve. Capital will also start coming in,” he said.

According to the wealth report, potential fall in asset values was the highest concern among its Asian respondents at 30%, followed by rising taxes and tighter controls on capital movement at 28% and 27% respectively.

Going forward, Sarkunan said affordable homes would primarily drive the local property market.

“Affordable homes will still be a driver to an extent, but medium-to-high end properties will also pick up again. Also, when the mass rapid transit (MRT) lines come into the city, it will drive the commercial market there as well.

“We’ve had a lot of decentralisation push over the last 10 years and the MRT will bring office workers to the city.”

Sarkunan pointed out that locations with light rail transit (LRT) and MRT lines, such as Damansara Heights, have bucked the trend in terms of condominium values.

“Prices have actually increased compared with some of the other areas in Malaysia. Transport hubs or transport-orientated developments, such as Kota Damansara, have also seen improvements in prices.”

The Knight Frank 2017 Wealth Report tracks the value of luxury homes in 100 key locations worldwide, including 19 destinations from Asia Pacific.

According to the report, values rose globally by 1.4% on average last year, compared with 1.8% in 2015. Asia was the second best performing world region last year, with prices rising 5.1%.

Australasia was the strongest performing world region with prices rising 11.4% year-on-year.

Source: BY EUGENE MAHALINGAM The Star/ANN

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Malaysian start-up CO3 plans to set up Google-like offices in the region


 

KUALA LUMPUR: Taking a cue from the trendy, cool office spaces of Google and the like, a Malaysian start-up aspires to offer a one-of-its-kind co-working space in the region.

Dubbed CO3 Social Office, the venture was launched yesterday and will roll out by June.

Co-founder and CEO Yong Chen Hui said CO3 stood for connectivity, collaboration and community that offered a platform for people from different establishments to work together.

“Cool workplaces like Google make people envy,” he said in his presentation during a media conference here yesterday.

“Such places will inspire people to give their best to the corporation everyday,” Yong said.

The first CO3 Social Office, with a space of 21,000 sq ft for 300 people, will be housed at the shoplots next to IOI Mall in Puchong.

The second, covering 40,000 sq ft for 500 people, will be located at Jalan University in Petaling Jaya, next to Sin Chew Media Corporation Bhd, which is one of CO3’s eight founders.

Three more are planned. These will be situated at the Kuala Lumpur city centre, Sentral and Damansara.

The ambitious expansion plan is to include 40 locations in the Asean region. The spaces will be equipped with meeting rooms, private booths, sleeping pods, mini library, fast wi-fi, etc.

Yong said the company’s target audience was the 90s – “the future” – who value freedom, cool and charming trends, etc.

CO3 aims to respond to the flexibility and fluidity of today’s work environments by transforming offices into hip communal living spaces.

CO3 will also strive to provide entrepreneurs, SMEs and non-pro­fit organisations a unique co-office environment to help grow their businesses.

“We hope to be the next US$2bil ‘unicorn’ by 2022,” Yong said during the presentation.

A “unicorn” is a company with a billion-dollar valuation. The mythical animal is used to emphasis how rare it is to reach that status.

Bruneian artiste Goh Kiat Chun, better known as Wu Zun, is one of the eight founders of CO3 Social Office.

Source: The Star by tho xin yi

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Rich Gen-Y kids making their own success


SINGAPORE: One of Rachel Lau’s strongest childhood memories is the smell of newspaper. Her father, driving her to school each day in Kuala Lumpur, would make his sleepy daughter open the paper, go through stock quotes and do mental math.

“He would be, like, How did KLK do today? OK, if it’s up four sen and I’ve got 89,000 shares, how much did I make?” Lau recalled. The daily ritual continued through her teenage years. Her father Lau Boon Ann built his fortune in real estate and by investing in companies like Top Glove Corp Bhd, which became the world’s biggest rubber-glove maker.

Some days, he would stand in front of an empty lot with his young daughter and challenge her to imagine a building there rather than watching the chickens running around.

Lau, now 31, is one of the three millennial co-founders of RHL Ventures, along with Raja Hamzah Abidin, 29, son of prominent Malaysian politician and businessman Datuk Seri Utama Raja Nong Chik Raja Zainal Abidin and Lionel Leong, also 29, the son of property tycoon Tan Sri Leong Hoy Kum.

They set up RHL using the wealth of their families with a plan to attract outside capital and build the firm into South-East Asia’s leading independent investment group.

“We look at South-East Asia and there is no brand that stands out – there is no KKR, there is no Fidelity,” Lau said. “Eventually we want to be a fund house with multiple products. Venture capital is going to be our first step.”

RHL has backed two startups since its debut last year. One is Singapore-based Perx, which has morphed from a retail rewards app to provide corporate clients with data and analysis on consumer behaviour. Lau is a member of Perx’s board, whose chairman is Facebook Inc co-founder Eduardo Saverin.

In January, the firm invested an undisclosed amount in Sidestep, a Los Angeles-based startup that’s also backed by pop-music artists Beyonce and Adele. Sidestep is an app that allows fans to buy concert memorabilia online and either have it shipped to their home or collect it at the show without having to wait in line.

“RHL guys are really smart investors who are taking their family offices to a new play,” said Trevor Thomas who co-founded Cross Culture Ventures – a backer of Sidestep, together with former Lady Gaga manager Troy Carter. “What attracted the founders of Sidestep to RHL was their deep network in South-East Asia.”

A lot of startup founders in the United States want to access the Asian market, said Thomas, but they often overlook the huge South-East Asian markets and only focus on China. “Rachel and the team did a great job of explaining the value of that vision and providing really great access to early-stage US companies,” he said.

In South-East Asia, RHL has positioned itself between early-stage venture capitalists and large institutional investors such as Temasek Holdings Pte. Hamzah said they want to fill a gap in the region for the subsequent rounds of funding – series B, C and D. “We want to play in that space because you get to cherry pick,” he said.

RHL’s strategy is to take a chunk of equity and a board seat in a startup that has earned its stripes operationally for at least a year, and see the company through to an initial public offering.

Summer camp

RHL’s partners represent a new generation of wealthy Asians who are breaking away from the traditional family business to make their own mark. They include billionaire palm-oil tycoon Kuok Khoon Hong’s son Kuok Meng Ru, whose BandLab Technologies is building a music business.

RHL’s story begins in 2003 at a summer camp in Melbourne. During a month of activities such as horse riding and playing the stock market, Lau struck up a friendship with Hamzah, unaware that their parents knew each other well.

Their paths crossed again in London, Sydney, New York and Hong Kong as they went to college and forged careers in finance – Lau at NN Investment Partners and Heitman Investment Management, where she currently helps manage a US$4bil equity fund; and Hamzah at Goldman Sachs Asset Management and Guoco Management Co. Together with their mutual childhood friend Leong, the trio would joke about all returning to Malaysia one day to start a business together.

That day came in 2015 when Hamzah called up Lau in Hong Kong and said: “Yo! I’ve moved back. When are you coming back? You haven’t lied to me for 15 years, have you?”

They decided their common trait was investing.

Hamzah shares Lau’s passion for spotting mispriced assets by analysing valuations. Lau says she trawls through 100-page prospectuses for fun and values strong free cash flow – the cash a company generates from its operations after capital expenditures. Leong helped structure debt products at Hong Leong Investment Bank before joining his family’s real-estate business to learn about allocating capital to strategic projects.

In February 2016, they started RHL Ventures – an acronym for Rachel, Hamzah, Lionel – with their own money. When their families found out about the plan, they were eager to jump in, said Lau. Now they aim to raise US$100mil more from outside investors.

The partners have roped in their family and hedge-fund experts as advisers. “We recognise that we are young and still learning,” Lau said. “There is no point pretending otherwise.”

Leong’s father runs Mah Sing Group, Malaysia’s largest non-government-linked property developer. Hamzah’s father, chairman of mechanical and electrical business Rasma Corp, is a former Federal Territories and Urban Wellbeing Minister. Top Glove chairman Tan Sri Lim Wee Chai is also an adviser, in place of Lau’s father, who died in 2008.

The other two advisers are Marlon Sanchez, Deutsche Bank’s head of global prime finance distribution in Asia-Pacific, and Francesco Barrai, senior vice-president at DE Shaw, a hedge fund with more than US$40bil in investment capital.

RHL added a fourth partner last month, John Ng Pangilinan, a grandson of billionaire property tycoon Ng Teng Fong, who built Far East Organisation Pte and Sino Group.

Ng, 37, has founded some 10 ventures, including Makan Bus, a service that allows tourists to explore off-the-beaten-track eateries in Singapore.

As well as their family fortunes, the four partners bring experience of upbringings in dynasties that valued hard work, tradition and dedication.

Ng recalls his grandfather, Singapore’s richest man when he died in 2010, would always visit a property he was interested in buying with his wife.

After driving around the area, they would sit on a bench and observe it from a distance. Then they would return to the same spot after dark.

“He said to us, ‘What you see during the day can look very different at night,’” Ng said.

Hamzah, whose great-grandfather Mustapha Albakri was the first chairman of Malaysia’s Election Commission, remembers his father’s lessons in frugality – one time in London he refused to buy a £2 (US$2.50) umbrella when it started raining as they had plenty of umbrellas at home.

Leong, scion of Mah Sing Group, grew up listening to tales of how his family business overcame tough times by consolidating and reinventing itself from its roots as a plastic trader. “It made me realise that we have to be focused,” he said.

“So with every deal we do, we have to put in that same energy and tenacity.”

Lau was a competitive gymnast as a child but quit the sport when she failed to win gold at a championship event.

“It’s one thing I regret. In hindsight, I don’t think I should have given up,” said Lau. “The ultimate champion is the person who doesn’t give up.”

One old habit however remains. When Lau picks up a newspaper, she goes straight to the business section. “It’s still the only thing I read,” she said. – Bloomberg/The Star by Yoolim Yee

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Stop bitting the helping hand


Many of the negative responses over the deals with China seem to be politically motivated, stemming from ignorance and, in some cases, ethnic prejudice against all things Chinese.

 

YOU can be angry with Datuk Seri Najib Tun Razak but let’s not lose our objectivity. The Prime Minister brought in RM144bil worth of deals signed between Malaysia and China.

Many Asean countries are eyeing that kind of money from China but strangely, some Malaysians’ sense of rationality is becoming warped, even perverted, and they feel it is prudent to go into senseless name-calling and mindless smearing of China.

We have to be careful here – remarks like Malaysia indulging in yellow culture, selling our soul to China and comments which smacks of racism are surely not the way to treat a friendly superpower nation like China.

Those making such disparaging remarks are doing a disservice to Malaysia. It’s akin to throwing sand into our rice bowl.

Hate the PM as much as you want as this is how democracy works. But do some of us need to lash out with political rhetoric against China?

It is one thing to score points against our political rivals but surely, there must be a line drawn – let’s not bite the hand that is trying to help us at a time when Malaysia needs to secure more foreign investment to shore up our flagging revenue from oil and gas.

Many of the negative responses over these deals with China seem to be politically motivated, stemming from ignorance and, in some cases, ethnic prejudice against all things Chinese, whether it has to do with mainland China or Chinese Malaysians.

Let’s look at the numbers – foreign investors (including the US) are net sellers of stocks in Bursa Malaysia and have reportedly dumped RM948.1mil in stocks although some have said it is even more.

Malaysia can no longer depend on traditional foreign direct investments from the US and other Western countries.

The reality is that China invested as much as US$84bil (RM370bil) in 2012, establishing it as the world’s third largest outward investor after the US and Japan. China has aggressively eclipsed other nations.

The shift towards China, according to one study, is obvious as the republic emerged as Malaysia’s largest trading partner, enjoying a 13.8% share of Malaysian trade since 2012.

Malaysian firms (especially those owned and managed by Malaysians of Chinese descent) have also been actively investing in China since it liberalised its economy in 1979. Some of these firms played a crucial role in attracting mainland Chinese firms to invest in Malaysia, according to studies.

Everyone knows that China has the money. And Malaysia has an edge over other Asean countries because of the link between Chinese Malaysians and China that has given us an advantageous position, especially when China increasingly sees Singapore as a US ally.

There are some who are unhappy with China’s purchase of 1MDB’s energy assets in Edra Global Energy Bhd for RM9.83bil by the state-owned China General Nuclear Power Corp recently, suggesting that the republic was only helping Najib out in the 1MDB controversy.

But let’s look at other investments – even before the recent trip by the PM. China has put in a multi-billion ringgit purchase of a substantial equity stake in Bandar Malaysia via China Railway Construction Corporation.

China Railway Engineering Corporation has announced plans to set up its multi-billion regional headquarters in Bandar Malaysia, which will host the main terminal for the proposed KL-Singapore High Speed Rail project.

It has been reported that the Chinese government has started buying more Malaysian Government Securities (MGS) and this inflow of new money could possibly rise to RMB50bil (about RM30bil) in total or 8.5% of Malaysia’s total outstanding MGS as of early April.

Those who have been grumbling should answer if there’s any big money coming from the US, Australia or Britain.

And many of us are also wary about money coming in from the Saudis – some are alleging that they are exporting radical Islamic values to Malaysia. Do we need this?

Like it or not, China, apart from being Malaysia’s largest trading partner which takes up 19% of its exports, is presently one of the top five foreign investors in the country.

Investments from China in the manufacturing, construction, infrastructure and property sectors are at significant levels now.

According to official data, China’s investments in the manufacturing sector here from 2009 to 2015 totalled RM13.6bil, creating 24,786 jobs.

Malaysia also needs more Chinese tourists to visit our country and we hope to attract two million Chinese tourists by the end of the year. Our tourism industry has seen a growth of 23% in arrivals from China since the e-visa entry programme was introduced in March this year.

China is the third largest source of tourists for us after Singapore and Indonesia. Malaysia targets eight million Chinese tourists by 2020.

Only 10% of China’s population travelled out of their country and yet they have spent US$229bil (RM1tril) globally last year. They easily beat the number of many Western countries put together!

They spend more than other tourists and they travel in bigger numbers. We all know that in Western countries, Chinese-speaking shop assistants are specifically hired to engage with this segment of customers.

Malaysia is not on the radar of Chinese tourists but more young Chinese tourists have chosen to visit Sabah because of its beautiful sea and lush forests.

Chinese tourists spent US$215bil (RM948bil) abroad last year, 53% more than in 2014, according to a World Travel & Tourism Council report, a figure which is more than the annual economic output of Qatar. Chinese tourists are now spending way more than anyone else, including the Americans.

The number of Chinese tourists travelling globally has more than doubled to 120 million over the last five years, according to data from the China National Tourist Office and WTTC. That means one in every 10 international traveller now is from China.

Malaysia is missing out on this action, unfortunately. For a start, we can make travelling into Malaysia easier for them and having more direct flights will help.

Let’s give credit where credit is due. Najib has done well, from his recent trip to China.

It will even be better if our own Air Asia gets to fly into more Chinese cities as this will surely help boost Chinese tourist arrivals.

Let’s get real, all of us.

Certainly we have the right to express our concerns over the terms of some projects, and to seek clearer details, but let’s not drag in unnecessary elements which strain bilateral ties.

By Wong Chun Wai

Wong Chun Wai began his career as a journalist in Penang, and has served The Star for over 27 years in various capacities and roles. He is now the group’s managing director/chief executive officer and formerly the group chief editor.

On The Beat made its debut on Feb 23 1997 and Chun Wai has penned the column weekly without a break, except for the occasional press holiday when the paper was not published. In May 2011, a compilation of selected articles of On The Beat was published as a book and launched in conjunction with his 50th birthday. Chun Wai also comments on current issues in The Star.

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Prime Minister Datuk Seri Najib Razak (L) and China’s Premier Li

Keqiang at the Great Hall of the People, in Beijing. – EPA

Malaysia-China ties to a new high

Malaysian PM Najib given official welcome at China’s Great Hall of the People https://youtu.be/v87tJF3uO7U   Prime Minister …

Malaysia-China ties to a new high


Malaysian PM Najib given official welcome at China’s Great Hall of the People

https://www.youtube-nocookie.com/embed/v87tJF3uO7U

 

 

Prime Minister Datuk Seri Najib Razak and China’s Premier Li Keqiang inspect honour guards during a welcoming ceremony at the Great Hall of the People, in Beijing, China, November 1, 2016. Reuters

BEIJING, China: Prime Minister Datuk Seri Najib Razak said his current visit to China will propel bilateral ties between the two nations to a new high.

“We have said that bilateral relations are at a historic high. I can say that with confidence.

“But more so, this visit will being it to a new high because the comprehensive nature of our strategic partnership has now been translated into meaningful action,” he said in his opening remarks at the bilateral meeting between Malaysia and China at the Great Hall of the People here.

Najib also thanked his counterpart Li Keqiang, seated across from him, for the warm welcome given to the Malaysian delegation.

“It’s warm in the room, but outside it’s a little cold,” Li replied in jest. The weather in Beijing is currently chilly as winter approaches, with a high today of 11.7 degrees Celsius and an overnight low of – 2.2 degrees.

Najib was given earlier given an official welcoming ceremony at the Great Hall of the People here.

Najib, who is on a six-day official visit, was welcomed on arrival by China prime minister Li Keqiang. Also present were ministers and government officials accompanying the prime minister’s delegation.

The national anthems of both countries were played, followed by Najib’s inspection of the guard accompanied by Li. The Malaysian prime minister was also given a 19-gun salute.

Earlier, Najib had attended the Malaysia-China Business Forum, titled “Strengthening Cooperation, Building Opportunities”. The luncheon was attended by more than 400 Chinese and Malaysian businessmen. – New Straits Times

Xi vows to cement all-round strategic partnership with Malaysia

 

Chinese President Xi Jinping (R) meets with Malaysian Prime Minister Najib Razak in Beijing, capital of China, Nov. 3, 2016. (Xinhua/Li Xueren)

Chinese President Xi Jinping met with Malaysian Prime Minister Najib Razak in Beijing on Thursday, pledging to boost cooperation with the country in diverse areas and cement their all-round strategic partnership.

Xi hailed the progress of relations since diplomatic ties were established 42 years ago, citing mutual respect, trust, win-win cooperation and close communications.

He urged both countries to maintain frequent high-level exchanges, deepen political trust, keep to the right direction of bilateral relations and continue to support each other on issues related to each other’s major concerns.

Xi called on the two sides to combine their development strategies, and to lay a solid foundation for stronger trade cooperation.

China welcomes Malaysia’s participation in the Belt and Road Initiative, and is ready to work with the country to increase cooperation in areas such as infrastructure, energy, technology, agriculture and finance, he said.

Xi also urged stronger bilateral cooperation in education, culture, health, media, and in fighting terrorism and cross-border crime.

Najib congratulated the successful convening of the sixth plenary session of the 18th Communist Party of China Central Committee last week, and praised China’s economic and social development.

It is proven in practice that socialism with Chinese characteristics is a correct choice for China, he said.

Calling the two countries friendly neighbors and trustworthy friends, he said Malaysia-China ties are currently at their highest level.

Malaysia is glad to see China’s Belt and Road Initiative get a warm response, he said, vowing to facilitate the cooperation in trade, transportation, and port construction, with China under the Belt and Road framework.

Malaysia is committed to boosting ASEAN-China relations, he added.

Najib is on an official visit to China from Oct. 31 to Nov. 5. Xinhua

Najib’s visit reveals feeble US rebalance

Malaysia has agreed to buy four Chinese naval vessels that operate close to shore, after the country’s Prime Minister Najib Razak met with Chinese Premier Li Keqiang early this week. Malaysia usually purchased military equipment from the US and the latest move marks its first significant defense deal with China. Some have called it a “new milestone.” The two sides signed 14 agreements worth 231.8 billion yuan ($34.28 billion) on Wednesday, and Najib called it a “historic achievement.”

Commentaries speculating that Najib is becoming the “second Duterte” in Southeast Asia and that Malaysia is “another Asian domino falling toward Beijing” have run wild in mainstream Western media. The New York Times contended that “American efforts to contain Chinese ambitions in the South China Sea depend on a ring of allies, but the region’s united front may be crumbling.”

Najib said in a Chinese media outlet recently that former colonial powers should not “lecture countries they once exploited on how to conduct their own internal affairs today.” The tensions between Malaysia and the US brewed by Washington’s interference in Malaysia’s internal affairs are similar to those between the US and the Philippines caused by the former’s accusation against Duterte’s human rights abuses during its anti-drug campaign.

The US’ sense of superiority in politics and morality often makes it point its fingers at developing countries. In 1993, it forcefully inspected a Chinese freighter suspected by its intelligence service of carrying weapons and ended up finding nothing. It launched attacks on Iraq over its alleged ownership of weapons of mass destruction, but faced the same fate.

Chinese people don’t think that Kuala Lumpur is leaning toward Beijing. China and Malaysia are developing their ties steadily. China has been Malaysia’s biggest trading partner and replaced the US to become its largest investor in 2015. The two have minor territorial disputes but have managed them well. China’s relations with neighboring countries ought to be like this.

Friendly ties between China and Malaysia do not exclude a third party. Defense cooperation, which displays a higher level of strategic mutual trust, should not be labeled as “a turning point for the region.”

The fears of US and Western opinion reveals that the US rebalance to the Asia-Pacific is eyeing unrealistic goals, which are to form an alliance system in the West Pacific that includes most countries so as to contain China. The West views China as an expansionist imperial state like Japan used to be in the past, and requires regional countries to be “loyal” to Washington.

The rebalancing strategy does not hold water. China has never thought of military expansion as Japan did. It cherishes peace and stability like all regional stakeholders. China is sincere in tackling territorial disputes through peaceful negotiations. A “nightmare” in the South China Sea is nothing but an illusion created by the US and Japan.

Washington should reflect upon itself. It is an external country and its presence in the region should contribute to peace and stability. It will not stay long if it keeps driving a wedge between regional countries. – Global Times

Supporting women entrepreneurs


One in five SMEs are owned by women, but many tend to be micro-enterprises with limited capital. Extending a helping hand to ensure their success is important because not only would it contribute to economic growth, it would also ensure the well-being of family.

FOLLOWING the talk on women entrepreneurship at our SME Club last May, we joined force with the Secretariat for Advancement of Malaysian Entrepreneurs (SAME), of the Prime Minister’s Department, to launch the Women Talentship Workshop on Oct 6 with the aim of encouraging women to participate in entrepreneurship.

The idea is to equip women with the necessary knowledge and skills in order for them to create and run successful businesses.

The workshop was well received. We had about 300 women participating.

Encouragement and support for women in entrepreneurial activties is important. Based on the latest statistics available (Economic Census 2011), nearly one in five SMEs (19.7%) are owned by women. About 92% of these SMEs are involved in the service sector.

Many of these businesses are likely to be unregistered micro-enterprises operating in the home or on temporary premises, with fewer or no employees and limited capital for expansion.

There are several common challenges faced by these small-scale, women-owned businesses. First of all, the women entrepreneurs constantly struggle with finding a balanced role between career and home.

Women are expected to shoulder the burden of being a mother and a homemaker, apart from being a breadwinner or business woman. And this is a challenging task.

Our workshop was intended to encourage women to participate in entrepreneurship while embracing well-balanced roles through three levels of strategy planning and development, i.e. personal discipline, communication discipline, and business discipline.

SAME’s advisor, Grace Chia, who is an advocator and practitioner of entrepreneurship, says the three disciplines are practised by many successful businesswomen.

By personal discipline, one means the ability to identify, acknowledge and understand your own strengths and weaknesses as the first step to finding your niche in business.

We should focus on leveraging on our strengths and finding peers with skills that we lack.

When we talk about communication discipline, we emphasise the ability to communicate in order to achieve a win-win outcome among family members, business partners and customers. You must be able to persuade your team to share your vision, in order to be able to tap the resulting synergy and move towards common goals.

By business discipline, we are refering to the bankability and marketability of your business. Often, many businesses fail to get financing because they lack solid fundamentals in finance and accounting, and consequently the bookkeeping for the company.

Also, the lack of a workable marketing plan may deter the access to financing as well as opportunities for success.

We must be able to prepare a bankable business plan when we want to obtain financing from a third party. A good bankable business plan would include an attractive and convincing business idea, what problems it can solve, how it fits with market needs, what effective and feasible marketing strategies you have, and what the ROI or return on investment is likely to be.

Also, it is essential to show entrepreneurial elements in the business plan when one is applying for financing. This is to help you to differentiate yourself from the usual business plans. More importantly, the entrepreneurial elements suggest that you are serious and have in mind a long-term endeavour rather than just a profit-making plan.

Equally important is to know your products well.

Who are your target groups? How are you going to promote the products to them? We may have good products, but there may not be a market for the products.

We recognise the importance of promoting women entrepreneurship for the reason that the success of women entrepreneurs will contribute to economic growth as well as the well-being of families. There is no reason for us to neglect the talents and capabilities of women, which form half of the population in Malaysia.

Women entrepreneurs should fully utilise government programmes that promote entrepreneurship among women. Some of the government agencies and programmes that aim to assist women entrepreneurship include SAME’s women talentship initiative, SME Corporation’s Skills Upgrading Programme, and Matrade’s Women Exporters Development Programme.

By Michael Kang, who is the national president of the SME Association of Malaysia.


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China space economy developing rapidly, the most accurate atomic clock in the world


Snail-like progress By Cai Meng

New company set up to develop space economy

The commercialization of rocket launches will boost the industry by bringing space tourism income and attracting private investment, experts said.

ChinaRocket Co. Ltd, a subsidiary of China Academy of Launch Vehicle Technology, the country’s largest developer of ballistic missiles and carrier rockets, was established on Wednesday, marking the commercialization of China’s space industry, the Xinhua News Agency reported.

“Chinese commercial space enterprises are lagging behind the global market due to lack of complete production chain in the commercial space industry and experience in commercial space activities like space tourism,” Li Hong, president of the academy, said at a press conference on Wednesday.

“Commercializing rocket launches will help develop the industry as many private companies will be interested in the sector,” Jiao Weixin, a professor at the School of Earth and Space Science of Peking University, told the Global Times on Thursday.

Jiao said the establishment of the company signals that State-controlled space industry is stepping into ordinary people’s daily life.

Han Qingping, president of ChinaRocket, said at the press conference that the company would focus on keeping the cost 30 percent lower than an average launch through the “standardization of the interface between satellite and rocket as well as advance preparation.”

According to Han, China will develop reusable sub-orbital vehicles in five to 10 years.

Han said the company will launch individual space travel services like “space taxi, free space ride and space shuttle bus” to promote the space economy.

According to Xinhua, ChinaRocket’s individual space travel package would cost about $200,000.

Huang Jun, a professor at the School of Aeronautic Science and Engineering at Beihang University, said that “many countries have been studying the reusability of carrier devices and aircraft, but it will take at least one to two decades before visitors can afford a space trip.”

The market value of commercial space in China would reach 30 billion yuan ($4.6 billion) annually by 2020, Xinhua reported, citing Hu Shengyun, a senior rocket engineer at China Aerospace Science and Industry Corp.

By Leng Shumei Global Times

China’s atomic clock: The most accurate clock in the world

China’s atomic clock: The most accurate clock in the world

China’s cold atomic clock is the most precise time-keeping device ever built. The clock only weighs a couple kilograms and could fit comfortably in the boot of a car. And because it is powered by atoms, it won’t have to be reset for another 30 million years.

https://www.youtube-nocookie.com/embed/zr-yLWLR6UE

China’s cold atomic clock is the most precise time-keeping device ever built. The clock only weighs a couple kilograms and could fit comfortably in the boot of a car. And because it is powered by atoms, it won’t have to be reset for another 30 million years.

Cold atomic clocks are the most accurate clocks in the world. Low-frequency lasers lower their internal temperatures to 273 degrees centigrade below zero, and slow down the movement of atoms inside. Slow-moving atoms decrease the likelihood of counting errors, and result in a more accurate counting of time.

“The frequency of the atom will not change. It is the same wherever it is. Unlike in mechanical clocks and electric clocks, atomic clocks aren’t drastically affected by their surrounding environment. We are going to operate the most accurate cold atomic clock in space. It is the first time ever, not only for our country, but also for the world,” Liu Liang, chief designer of Shanghai Institute of Optics and Fine Mechanics, Chinese Academy of Sciences, said.

Rubidium atoms count time inside China’s cold atomic clock. Atoms are usually affected by gravity, but the low level of gravity in space will weaken the earth’s gravitational pull and increase the accuracy of China’s cold atomic clock.

“Atoms usually fall because of gravity, making it difficult to keep track of time for a long time. But up in space, we don’t have that problem,” Liu said.

The launch of Tiangong-2 marks China’s transition from a follower in space research, to a pioneer. China’s cold atomic clock project is a good example of that transition.

“The initial plan was brought up in 2006. We have made great efforts over the past ten years. We have been through a lot… and we have been successful” Liu said.

It took years of scientific work to get China’s cold atomic clock into space. Researchers are now devising ways how to use the clock to benefit people down on earth.

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