China’s first cargo spacecraft Tianzhou-1 boosts space dream


China’s first cargo spacecraft, Tianzhou-1, was launched successfully at 7:41 pm Beijing Time Thursday, a crucial step for the country to build a space station by approximately 2022.

Lifted by a Long March-7 Y2 carrier rocket, Tianzhou-1 roared into space from Wenchang Space Launch Center in Hainan Province on Thursday evening.

The cargo ship will dock with the orbiting Tiangong-2 space lab, provide fuel and other supplies, and conduct space experiments before falling back to Earth. The launch of Tianzhou-1 was a “zero-window” mission, which means it had to be launched at precisely 7:41:28 pm, with no room for error, China Central Television reported.

The cargo ship is 10.6 meters long and has a maximum diameter of 3.35 meters. Its maximum takeoff weight is 13.5 tons, allowing it to carry over 6 tons of supplies. Tianzhou-1 is larger and heavier than Tiangong-2, which is 10.4 meters in length and has a maximum diameter of 3.35 meters, weighing 8.6 tons, the Xinhua News Agency reported.

“Tianzhou-1’s cargo usually includes space food, medicine, water and so on, for three people’s use for 30 days, but this time it is a unmanned flight, so we put simulated cargo that weighs the same in the spacecraft,” Huang Weifen, deputy chief designer of China’s manned space project astronaut system, told the Global Times.

The biggest challenge of this mission is that new spacecraft, new rockets and the new launch site need to match each other, Xu said. When Tianzhou-1 completes its mission, it will make an automatic destructive re-entry into Earth’s atmosphere.

“This shows that China’s environmental awareness of space has improved, and this is a good attempt to reduce space junk. Tianzhou-1 will fall into the South Pacific under our control when its mission ends,” Xu said.


Advanced technology

Bai Mingsheng, chief designer of the cargo ship, told Xinhua that the cargo aboard the spacecraft weighs almost the same as the ship, exceeding the load capacity of Russian cargo ships in active service. If the Tianzhou-1 mission is successful, China will become the third country besides Russia and the US to master the technique of refueling in space.

“In general, Tianzhou-1’s technology is definitely in the first-class around the globe, at the same stage as Russia and the US. Although Europe and Japan also have their own cargo spacecraft and their payload capacity is bigger than Tianzhou-1, they heavily rely on US and Russian technological support in various aspects,” Song Zhongping, a military expert who served in the Second Artillery Corps (now known as the PLA Rocket Force), told the Global Times on Thursday.

From launch to automatic destruction, China’s Tianzhou-1 doesn’t need to rely on any other country’s facilities or technology, and compared to the US’ Cygnus and Dragon, its payload capacity is bigger and technologically more reliable and advanced in general, Song said.

Space ambition

China aims to build a permanent space station that is expected to orbit for at least 10 years, and the maiden voyage of the cargo ship is important as it will be a courier to help maintain the space station. Without a cargo transportation system, the station would run out of power and basic necessities, causing it to fall back to Earth before the designated time, Xinhua reported.

Currently, the only space station is the International Space Station (ISS), which was mainly pushed by the US and Russia and was launched in 1998. It should reach the end of its mission in 2020, but the US and Russia might decide to extend its lifetime a little bit, Song said.

According to previous reports in the Global Times, in order to prevent China from sharing in advanced space technology, the US always refused any attempt from China to join the ISS program, despite efforts China made in 2000.

“But we are going to have our own space station very soon. After 2020, China’s Tiangong will very likely become the only space station in service, and will provide services to more developing countries so more countries can benefit from humanity’s achievements in space technology,” Song said.

Source: By Liu Yang in Wenchang and Yang Sheng in Beijing Source:Global Times Published: 2017/4/21 0:08:39

First cargo spacecraft boosts China’s space dream

WENCHANG, Hainan, April 20 (Xinhua) — China has taken another step toward its goal of putting a space station into orbit around 2022, by sending its first cargo spacecraft Tianzhou-1 into space on Thursday evening.

Atop a Long March-7 Y2 carrier rocket, Tianzhou-1 rose into the air from the Wenchang Space Launch Center in south China’s Hainan Province at 7:41 p.m.

China declared the launch a success after it entered designated orbit minutes later.

The cargo ship will dock with the orbiting Tiangong-2 space lab where two Chinese astronauts spent 30 days in the country’s longest-ever manned space mission, provide fuel and other supplies to the latter, as well as conduct space experiments before falling back to Earth.

If the Tianzhou-1 mission is successful, China will become the third country besides Russia and the United States to master the technique of refueling in space.

China aims to build a permanent space station that is expected to orbit for at least 10 years, and the debut of the cargo ship is important as it acts as a courier to help maintain the space station.

Without a cargo transportation system, the station would run out of power and basic necessities, causing it to return to Earth before the designated time.

“The Tianzhou-1 mission includes the breakthrough of in-orbit refueling and other key technology needed to build a space station, laying a foundation for future space station operations,” said Bai Mingsheng, chief designer of the cargo ship.

THREE DOCKINGS

Measuring 10.6 meters long and boasting a maximum diameter of 3.35 meters, the Tianzhou-1 cargo ship has a maximum takeoff weight of 13.5 tonnes, and could carry over 6 tonnes of supplies.

Tianzhou-1 is larger and heavier than Tiangong-2, which is 10.4 meters in length and has a maximum diameter of 3.35 meters, weighing 8.6 tonnes.

Bai said that supplies loaded on the cargo spacecraft are nearly as heavy as the ship’s own weight, exceeding the loading capacity of Russian cargo ships in active service.

Tianzhou-1 will dock with Tiangong-2 three times, said Bai. After the first docking, aerospace engineers will test the controlling ability of the cargo spacecraft over the two spacecraft.

The second docking will be conducted from a different direction, which aims to test the ability of the cargo ship to dock with the space station from different directions.

In the last docking, Tianzhou-1 will use fast-docking technology. Previously, it took China about two days to dock, while fast docking will take about six hours, according to Bai.

Refueling is conducted during docking, a process that is much more complicated than refueling vehicles on land.

The refueling procedure will take 29 steps and last for several days each time.

This means the Tianzhou-1 will stay in space for about six months. It will fall into a designated sea area after fulfilling its tasks.

SUPPORTING SPACE STATION

Space cargo ships play a crucial role in the maintenance of a space station.

Cargo ships can send all kinds of supplies to the space station which can be an experiment field for developing technology in space.

Huang Weifen, a deputy chief designer of the Astronaut Center of China, said that supplies carried by Tianzhou-1 include goods that will meet the basic living and working needs of three astronauts for 30 days in space, including drinking water, oxygen bottles and nitrogen bottles.

Also onboard include facilities for microorganism tests, and sensors are installed to obtain data such as mechanics and temperature for the future design of the space suit outside a spacecraft.

“We hope to gather relevant data through this mission and accumulate experience for sending material for the future space station,” she said.

VISION OF SPACE POWER

Although China has achieved many giant steps in space exploration, the country’s space odyssey is far from over as it eyes building its own space station and far beyond that: landing on Mars.

In 1992, the central authority approved a three-step manned space program.

The first step, to send an astronaut into space and return safely, was fulfilled by Yang Liwei in Shenzhou-5 mission in 2013.

The second step was developing advanced space flight techniques and technologies including extra-vehicular activity and orbital docking.

The final step will be able to operate a permanent manned space station.

Chinese scientists said they plan to launch a core module of the country’s first space station around 2018, followed by two experiment modules.

The station in the primary stage will be composed of three modules: core module, experiment module I and experiment module II. Each module will weigh more than 20 tonnes and together the three will be structured in the shape of T. The core module will be in the middle with an experiment module on each side.

During its operation, the space station could be linked to one additional cargo ship and two manned spacecraft at one time, and the maximum weight of the whole assembly could reach up to 90 tonnes.

Based on such design, scientists will keep updating capsules in accordance with scientific research and extend their abilities.

With the International Space Station set to retire in 2024, the Chinese space station will offer a promising alternative, and China will be the only country with a permanent space station.

So far, China has successfully launched 11 Shenzhou series spacecraft, including six manned spacecraft that lifted 11 astronauts into space.

The country strives to realize the third step of its lunar program in 2017: sending Chang’e-5 lunar probe onto the moon which will return with samples.

Source: Xinhua| 2017-04-20 21:17:45|Editor: Mu Xuequan

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Graphics shows launch procedure of China’s first cargo spacecraft Tianzhou-1

Graphics shows the launch procedure of China’s first cargo  spacecraft Tianzhou-1 on April 20, 2017. (Xinhua/Ma Yan)

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Xi’s governance of China book a hot seller


 

After its debut in Thailand, Cambodia and Pakistan, Xi Jinping: The Governance of China has become a top seller and been well-received among local officials and scholars, with many hailing the value of the book for both its language and its outreach.

The book, which outlines the political ideas of the top leadership in China, has been released in Thai, Khmer and Urdu versions in the respective capitals of the three countries in the past two weeks.

A Thai publisher sold more than 2,000 copies of the book in a single day after its launch in Bangkok on April 7, with many readers inquiring on social media about ways to purchase the book, reported Xinhua news agency.

Thai Deputy Prime Minister Wissanu Krea-ngam, who had read the book, said it was written in beautiful language, even though it was not in the form of a novel or essays.

“I believe that to be a great leader, one has to be a good reader, good thinker, good speaker, good writer and good doer, and I found President Xi has achieved all of them after I finished reading this book,” he said.

In Phnom Penh, more than 700 officials, scholars and entrepreneurs, including Cambodian Prime Minister Samdech Techo Hun Sen and five deputy prime ministers, attended the launching ceremony for the book on April 11.

Chea Munyrith, director of the Confucius Institute of the Royal Academy of Cambodia, said publishing a Khmer version will enable the Cambodian people to better learn about China and Xi himself.

Chea, who assisted in the translation of the book into Khmer, said it offers insights for government officials and scholars on how to properly manage a country.

“That is why it is important for the officials, students and scholars in Cambodia to read through the book,” he said.

At the launching ceremony of the Urdu edition of the book in Islamabad on Friday, Pakistani Prime Minister Nawaz Sharif said the book is as much about the contemporary world as it is about China.

“What has touched me most is that this book is not just about high-level politics, but also about moving stories of common people, their lives and inspirations about hard work and family values,” he said.

“This book is as much about the “Chinese Dream” as it is about the global dream to have a peaceful, harmonious and connected world,” he added.

Building a community of shared destiny is an important concept embodied in Xi’s thoughts on governance of the nation, said Jiang Jianguo, deputy head of the Publicity Department of the Central Committee of the Communist Party of China and minister of the State Council Information Office.

“And this concept has been included in the resolutions passed by United Nations organisations,” Jiang said in Islamabad.

Source: China Daily/Asia News Network

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Fake news, piracy and digital duopoly of Google and Facebook


“FAKE NEWS” has seemingly, suddenly, become fashionable. In reality, the fake has proliferated for a decade or more, but the faux, the flawed and the fraudulent are now pressing issues because the full scale of the changes wrought upon the integrity of news and advertising by the digital duopoly — Google and Facebook — has become far more obvious.

Google’s commodification of content knowingly, wilfully undermined provenance for profit. That was followed by the Facebook stream, with its journalistic jetsam and fake flotsam. Together, the two most powerful news publishers in human history have created an ecosystem that is dysfunctional and socially destructive.

Both companies could have done far more to highlight that there is a hierarchy of content, but instead they have prospered mightily by peddling a flat-earth philosophy that doesn’t distinguish between the fake and the real because they make copious amounts of money from both.

Depending on which source you believe, they have close to two-thirds of the digital advertising market — and let me be clear that we compete with them for that share. The Interactive Advertising Bureau estimates they accounted for more than 90% of the incremental increase in digital advertising over the past year. The only cost of content for these companies has been lucrative contracts for lobbyists and lawyers, but the social cost of that strategy is far more profound.

It is beyond risible that Google and its subsidiary YouTube, which have earned many billions of dollars from other people’s content, should now be lamenting that they can’t possibly be held responsible for monitoring that content. Monetising yes, monitoring no — but it turns out that free money does come at a price.

We all have to work with these companies, and we are hoping, mostly against hope, that they will finally take meaningful action, not only to allow premium content models that fund premium journalism, but also to purge their sites of the rampant piracy that undermines creativity. Your business model can’t be simultaneously based on both intimate, granular details about users and no clue whatsoever about rather obvious pirate sites.

Another area that urgently needs much attention is the algorithms that Silicon Valley companies, and Amazon, routinely cite as a supposedly objective source of wisdom and insight. These algorithms are obviously set, tuned and repeatedly adjusted to suit their commercial needs. Yet they also blame autonomous, anarchic algorithms and not themselves when neofascist content surfaces or when a search leads to obviously biased results in favour of their own products.

Look at how Google games searches. A study reported in The Wall Street Journal found that in 25,000 random Google searches ads for Google products appeared in the most prominent slot 91% of the time. How is that not the unfair leveraging of search dominance and the abuse of algorithm? All 1,000 searches for “laptops” started with an ad for Google’s Chromebook — 100% of the time. Kim Jong Un would be envious of results like that at election time.

And then there are the recently launched Google snippets, which stylistically highlight search results as if they were written on stone tablets and carried down from the mountain. Their sheer visual physicality gives them apparent moral force. The word Orwellian is flagrantly abused, but when it comes to the all-powerful algorithms of Google, Amazon and Facebook, Orwellian is underused.

As for news, institutional neglect has left us perched on the edge of the slippery slope of censorship. There is no Silicon Valley tradition, as there is at great newspapers, of each day arguing over rights and wrongs, of fretful, thoughtful agonising over social responsibility and freedom of speech.

What we now have is a backlash with which these omnipotent companies are uniquely ill-equipped to cope. Their responses tend to be political and politically correct. Regardless of your own views, you should be concerned that we are entering an era in which these immensely influential publishers will routinely and selectively “unpublish” certain views and news.

We stumble into this egregious era at a moment when the political volume in many countries is turned to 10. The echo chamber has never been larger and the reverb room rarely more cacophonous. This is not an entirely new trend, but it has a compounding effect with the combination of “holier than thou” and “louder than thou.”

Curiously, this outcome is, in part, a result of the idealism of the Silicon Valley set, and there’s no doubt about the self-proclaimed ideals. They devoutly believe they are connecting people and informing them, which is true, even though some of the connections become conspiracies and much of the information is skimmed without concern to intellectual property rights.

Ideas aside, we were supposed to be in a magic age of metrics and data. Yet instead of perfect precision we have the cynical arbitraging of ambiguity — particularly in the world of audiences. Some advertising agencies are also clearly at fault because they, too, have been arbitraging and prospering from digital ambiguity as money in the ad business has shifted from actually making ads to aggregating digital audiences and ad tech, better known as fad tech.

And so, as the Times of London has reported, socially aware, image-conscious advertisers find themselves in extremely disreputable places — hardcore porn sites, neofascist sites, Islamist sites. The embarrassment for these advertisers juxtaposed with jaundice is understandable, but the situation is far more serious than mere loss of face.

If these sites are getting a cut of the commission, the advertisers are technically funding these nefarious activities. Depending on the type of advertising, it is estimated by the ad industry that a YouTube partner could earn about 55% of the revenue from a video. In recent years, how many millions of dollars have been channelled to organisations or individuals that are an existential threat to our societies?

Provenance is profound, and in this age of augmented reality and virtual reality, actual reality will surely make a comeback. Authenticated authenticity is an asset of increasing value in an age of the artificial — understanding the ebb and flow of humanity will not be based on fake news or ersatz empathy, but on real insight.

BY ROBERT THOMSON

Robert Thomson is the chief executive of News Corp, which owns The Australian and The Wall Street Journal. This is adapted from a speech he delivered on March 29 to the Asia Society in Hong Kong.

PETALING JAYA: The proliferation of fake news on social media has benefited publishers like Google and Facebook in terms of digital advertising market share at the expense of other media companies. News Corp chief executive Robert Thomson recently in his speech noted that Google and Facebook, for example, have close to two-thirds of the digital advertising market.

The Interactive Advertising Bureau estimates they accounted for more than 90% of the incremental increase in digital advertising over the past year, he said.

The only cost of content for these companies has been lucrative contracts for lobbyists and lawyers, he added, noting that the social cost of that strategy is far more profound.

Thomson said this during his speech to the Asia Society in Hong Kong on March 29.

News Corp is also the owner of The Australian and The Wall Street Journal. “Google’s commodification of content knowingly, wilfully undermined provenance for profit. That was followed by the Facebook stream, with its journalistic jetsam and fake flotsam.

Together, the two most powerful news publishers in human history have created an ecosystem that is dysfunctional and socially destructive,’’ he said.

Both companies, he said could have done far more to highlight that there is a hierarchy of content, but instead they have prospered mightily by peddling a flat-earth philosophy that doesn’t distinguish between the fake and the real because they make copious amounts of money from both.

“It is beyond risible that Google and its subsidiary YouTube, which have earned many billions of dollars from other people’s content, should now be lamenting that they can’t possibly be held responsible for monitoring that content. Monetising yes, monitoring no – but it turns out that free money does come at a price.

“We all have to work with these companies, and we are hoping, mostly against hope, that they will finally take meaningful action, not only to allow premium content models that fund premium journalism, but also to purge their sites of the rampant piracy that undermines creativity,” Thomson said.

In his speech, he also said although “fake news” has seemingly, suddenly, become fashionable but in reality, the fake has proliferated for a decade or more.

But the faux, the flawed and the fraudulent are now pressing issues because the full scale of the changes wrought upon the integrity of news and advertising by the digital duopoly — Google and Facebook — has become far more obvious, he said.

Thomson also highlighted on the urgency of algorithms. Another area, he said that urgently needs much attention is the algorithms that Silicon Valley companies, and Amazon, routinely cite as a supposedly objective source of wisdom and insight.

“These algorithms are obviously set, tuned and repeatedly adjusted to suit their commercial needs.

“Yet they also blame autonomous, anarchic algorithms and not themselves when neofascist content surfaces or when a search leads to obviously biased results in favour of their own products,’’ he said.

A study reported in The Wall Street Journal found that in 25,000 random Google searches ads for Google products appeared in the most prominent slot 91% of the time.

“How is that not the unfair leveraging of search dominance and the abuse of algorithm?” he asked. All 1,000 searches for “laptops” started with an ad for Google’s Chromebook – 100% of the time.

And then there are the recently launched Google snippets, which stylistically highlight search results as if they were written on stone tablets and carried down from the mountain. Their sheer visual physicality gives them apparent moral force, he said.

“The word Orwellian is flagrantly abused, but when it comes to the all-powerful algorithms of Google, Amazon and Facebook, Orwellian is underused,’’ he said.

Thomson said: “What we now have is a backlash with which these omnipotent companies are uniquely ill-equipped to cope. Their responses tend to be political and politically correct.

Regardless of your own views, you should be concerned that we are entering an era in which these immensely influential publishers will routinely and selectively “unpublish” certain views and news.

He also faulted ad agencies as they have been arbitraging and prospering from digital ambiguity as money in the ad business has shifted from actually making ads to aggregating digital audiences and ad tech, better known as fad tech.

“Provenance is profound, and in this age of augmented reality and virtual reality, actual reality will surely make a comeback. Authenticated authenticity is an asset of increasing value in an age of the artificial – understanding the ebb and flow of humanity will not be based on fake news or ersatz empathy, but on real insight,’’ he added.

Sources: Starbiz

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 ‘Essential to tackle fake news correctly’

 
KUALA LUMPUR: Your office is swamped by phone calls from impatient customers, asking why they have yet to receive their free plane tickets as promised for ha­­ving participated in a survey.

You find out later that they had completed the survey which was featured on a dubious website.

Or, when you come to work, you see a horde of unhappy customers waiting outside the building, demanding to know why they were not informed that they would have to pay a fee if they did not get their membership cards renewed by the month’s end.

Apparently, there had been a Facebook posting about the new fee ruling.

The above two incidents happened in Kuala Lumpur over the past year.

In the age of scams, fake news and “alternative facts”, such cases are getting more frequent.

A recent incident involved shoemaker Bata Primavera Sdn Bhd, which was accused of selling shoes with the Arabic word “Allah” formed in the pattern on the soles.

Bata ended up removing 70,000 pairs of the B-First school shoes from its 230 stores nationwide.

It was a step which cost them RM500,000 in losses.

The shoes were returned to the shelves only after Bata was cleared of the allegation by the Al-Quran Printing Control and Licensing Board of the Home Ministry on March 30.

In February, AirAsia came under unwanted attention when its brand name was used in a purported free ticket survey and fake ticket scam.

Back in 2014, the airline had also asked its customers to be wary of an online lottery scam which made use of its name to solicit personal information from them.

What is more astounding is that the e-mail highlighting the lottery had been circulating since 2011.

And in January last year, Public Bank saw a rush of customers crowding its branches to renew their debit cards.

A Facebook post that had gone viral claimed that they would be charged a RM12 fee if they did not renew it by Jan 31.

What are the dos and don’ts for companies under attack by fake news?

“A quick and concise response is the way to go,” said AirAsia’s head of communications Aziz Laikar.

“Be prepared. The more high profile the brand is, the quicker the response should be.”

The communications team have to be able to draw up a statement fast to deal with the issue head on before it grows to a full-blown crisis, Aziz said.

He listed out four steps that a company could take.

“Start by immediately responding with facts via a short statement to the media, as well as on social media platforms,” he said.

Aziz also advised companies to lodge police reports and to make use of the chance to educate the public that they should always refer to announcements made via official platforms.

“Also, disseminate the information internally to your colleagues. Every employee should be a brand messenger.

“They are a powerful force to spread the correct message.

“The best way to effectively ma­­nage an issue is to make sure the entire company is aware of the situa­tion and able to communicate it correctly,” he said.

Ogilvy account director Clarissa Ng said that loyal clientele and employees were usually a company’s “first line of defence” and must be treated well.

Ng, who has handled the case of a client hit by rumours of exploding phones, preferred a “low profile” approach in dealing with such fake news.

She opted by focusing on promo­ting the phone’s safety features.

The campaign reassured consumers that the phone underwent rigorous testing in their laboratories in Shenzhen, China, and how its electrical current would be cut off automatically to prevent the gadget from exploding.

“Sometimes, the more you explain, the public will demand more answers. How we handled it was to remain low profile,” she said.

Source: By ADRIAN CHAN The Star

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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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Retrenchments ahead, says Malaysian Employers Federation


The Malaysian Employers Federation (MEF) believes that more people will get the axe this year due to the current economic challenges.

Apart from the weak economy, contributing factors include the introduction of “disruptive technology” in some industries, it said.

According to its executive director Datuk Shamsuddin Bardan (pic), economic challenges would see bosses reviewing their workers’ requirements.

“I think slightly more workers will be retrenched this year,” he told a press conference after the Taxation and Employer seminar jointly hosted by the Inland Revenue Board and MEF yesterday.

Shamsuddin said in 2015, about 44,000 workers lost their jobs while up to September last year, about 40,000 workers were retrenched.

He said the complete data for 2016 has not been released by authorities yet, but the numbers could be higher than the previous year.

In 2015, said Shamsuddin, about 18,000 of those who lost their jobs were from the banking sector due to the introduction of what he termed as “disruptive technology”, where banks were increasingly adopting online transactions, for example.

Other industries that could be affected, said Shamsuddin, include insurance, manufacturing and construction.

He said for the insurance industry, many prefer dealing with the companies directly for their services, which makes the job of middlemen or agents, redundant.

“However, these agents are not really part of the retrenchment rate because they are considered to be self-employed,” he said.

Asked to comment on the E-kad (enforcement card) programme by the Immigration Department, Shamsuddin said the Government should consider widening the criteria.

He said the programme should be open to illegal workers who do not have permanent employers.

Currently, only illegal foreign workers with valid employers can register and legalise their work under the E-kad programme.

Shamsuddin said by including illegal foreign workers without employers, the source pool for workers can be widened.

By Hemananthani Vivanandam The Star/ANN

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