The Star Online: Business
The Star Online: Business |
- KLCI dips in early trade, banks, Sime weigh
- World Bank cuts 2012 East Asia, Pacific region expansion to 7.2%
- Quick career tips to propel you to greatness
| KLCI dips in early trade, banks, Sime weigh Posted: 08 Oct 2012 06:27 PM PDT KUALA LUMPUR: Blue chips slipped in early trade on Tuesday, with Hong Leong Bank and AmBank among the major decliners in razor thin trade while Sime Darby also fell. At 9.09am, the FBM KLCI fell 0.42 of a point to 1,659.80. Turnover was 59.76 million shares valued at RM67.21mil. There were 75 gainers, 54 losers and 112 counters unchanged. Bloomberg reported Asian stocks dropped, with the regional benchmark index heading for its second day of decline, after the International Monetary Fund cut its global growth forecasts as its member countries convene in Tokyo this week. At Bursa Malaysia, MAHB fell the most, down 53 sen to RM5.40 with 500 shares done while PetDag lost 30 sen to RM22.10 and Pharmaniaga eight sen to RM7.42 while MMC shed six sen to RM2.62. HLBank fell 22 sen to RM13.72 with 400 shares done while AmBank shed 10 sen to RM6.31 with 200 units done and RHB Cap lost three sen to RM7.23. However, Maybank gained six sen to RM9 after declining the previous day. Heavyweight conglomerate Sime Darby lost five sen to RM9.61 but United Plantations rose 56 sen to RM25.28 with 100 shares done. Latexx surged 48 sen to RM2.27, near its takeover price of RM2.30 with 14,76 million shares done while the warrants added 39 sen to RM1.69. Supermax gained seven sen to RM2.11. |
| World Bank cuts 2012 East Asia, Pacific region expansion to 7.2% Posted: 08 Oct 2012 06:25 PM PDT SINGAPORE: The World Bank has slashed its 2012 growth forecast for developing countries in East Asia and the Pacific to 7.2%, dragged down by China's worst economic performance in 13 years. It said China's economy would grow just 7.7% this year, down from 9.3% in 2011 and its slowest rate since 1999, but added that stimulus measures would help push it back above the crucial 8% mark in 2013. The 2012 gross domestic product (GDP) projections in a report called the East Asia and Pacific Data Monitor were down from a May forecast of 7.6% growth in the region and 8.2% in China. The report comes as the Washington-based World Bank and International Monetary Fund prepare to hold their annual meetings at the end of the week. The Group of Seven advanced economies will also meet to discuss the global outlook. Despite the downgraded numbers, Bert Hofman, the World Bank chief economist for East Asia and the Pacific, said: "Our main forecast is still that China will have a soft landing." He also told journalists in Singapore yesterday that while there was a risk of a major slowdown, "we think it's small, not least because of the policy space that the authorities still have and the likelihood that they will indeed use it. "They have enough fiscal space, they still have some monetary space so they could revamp the economy ... if and when needed." Hofman noted that China was being hit by a "double whammy" of an export slowdown and softer domestic demand. In East Asia and the Pacific, regional growth would be the slowest since 2001, even worse than at the peak of the global financial crisis in 2009, Hofman said. The bank, however, said this should rebound to 7.6% in 2013, driven by domestic demand. But it warned that a worsening of the eurozone debt crisis, problems in the United States and a further slowdown in China were major risks. Hofman said East Asia and the Pacific's growth rates were "still the envy of many in the developed world" and its share of the world economy had tripled in two decades to nearly 18% of global output. The region covered by the new forecast comprises China, Indonesia, Malaysia, the Philippines, Thailand, Vietnam, Cambodia, Fiji, Laos, Mongolia, Myanmar, Papua New Guinea, the Solomon Islands and East Timor. - AFP |
| Quick career tips to propel you to greatness Posted: 08 Oct 2012 06:25 PM PDT LAST week, I had the pleasure of spending time with Nobuyuki Idei, the former chairman and CEO of Sony Corp. Idei-san shared with me some of his sadness in seeing Japan go through the numerous issues triggered by the tsunami. A few hours later, I met a friend who complained about how horrible his job was. The next day, I heard the plight of a pilot who was jobless due to the current oversupply of pilots in the country. Next up was a number of university students who lamented how hard it was to find a job in this country. The moping went on and on. By the end of the week, I felt like a sadness magnet. I spoke to a colleague and she felt the same way I did. Apparently, she too felt like a grievance centre too. So, instead of writing an HR article this week, I have decided to write a "be happy" career advice letter. So, here goes: A career advice letter: Dear friend, Let me assure you that your career will go nowhere if you are in a state of misery. Great leaders don't complain but proactively solve issues plaguing them. Thomas Edison, with his friends, watched his state-of-the-art factory destroyed by fire. Insurance only covered a small fraction of the cost. Instead of complaining how luck was never on his side, he rebuilt his factory within weeks. He saw the blaze not as a disaster but as a fantastic opportunity to redesign a better factory. Edison smiled a lot. You, too, can start by smiling. People who smile more aren't just more stable and better at getting along with others they live longer too. US researchers found that those who smiled most intensely lived longer than those who weren't smiling. The researchers, whose results hold even when corrected for other factors, claim the wider you grin and the deeper your laughter lines, the more likely you are to have a long existence. On the flip side, pessimistic and negative people have more health issues. Studies reveal that pessimism is associated to mental problems, pains, chronic sicknesses and decreases in physical functioning. Optimistic people have far better careers too. According to psychologist Elaine Fox, "optimists feel they have some control over what happens to them, tackling problems as temporary hitches rather than as ongoing difficulties." So, cheer up and brighten up. That itself will increase your probability of success. Career advice Here are a few career tips for you: 1. Always smile. It's the best lesson you will learn in life. When I was working in a tough assignment at NBC (a TV and media company), I hated the job and was constantly complaining to my friends. The only upside was being based in New York City and having an office next to Conan O'Brien's studio so I got to meet lots of movie stars. But I was depressed about how "stupid" my job was. But my mentor gave me a piece of advice that I will never forget. He said "just smile" and things will turn out better. So, everywhere I went and in whatever I did, I smiled. True enough, things turned around and I was given a bigger role. Smiles make a difference. 2. Take on the toughest and hardest jobs early on in your career. Tough jobs teach and accelerate you, pushing you out of your comfort zone. Don't jump for the easy, sexy jobs. You may end up having too much time with easy roles and may start complaining. By taking on the job that no one wants, people will notice your bravery, excitement and determination. It will give you confidence that you can take on the world and be prepared for anything thrown to you. I hated the tough assignments in my first few roles. But I keep plugging along and ultimately was rewarded by tougher roles which helped me accelerate faster. 3. Keep learning. Each time I ask people if they love to learn, they all answer yes. What most people forget is that learning is very painful and tough. It requires hard work and practice. Try learning a new language or a new skill. It requires hours of focus, dedication and persistent practice. You can't be CEO instantly. You have to learn so many thing before making the grade to run an organisation. But learning requires sacrifice and time. Getting the big job involves hard work and learning. Here comes the tough part. You want to move to a new role to learn more but your manager does not let you. Instead of getting upset with your boss, first answer these questions: Have you learned all there is to learn in your current role? Have you contributed as much as possible to your current role? Have you performed your role better than your predecessor? Have you left a significant legacy in your current role? If you answered yes to all these questions, first wear a smile on your face and then let your manager know you are getting bored and need to move on. Usually, if you are truly an asset to the company, your manager will figure out how to give you a new role. 4. Don't be a victim to circumstances. Don't be taken hostage. Control your destiny or someone else will. Your career is your career. Your career does not belong to the head of HR or the CEO. You and you only will determine if you have a great life and career. Take responsibility for your life. So, don't hide under banner like "I have no talent" or "he is better than me". Those are just cop-out statements. You are ultimately accountable to yourself. And complaining is another way of escaping the reality of a situation. If your career is going nowhere, it is probably your fault. Sure, there may be other variables but you need to take charge and not play victim. The good news for you Instead of focusing on the negatives, focus on the good news all around you. Yes, there is good all around. Let me share with you three things that are going for you and your career right now: 1. You have gifts, strengths, talents, and interests that can take you and your career to incredible heights. In fact, some of your inherent capabilities probably aren't being fully utilised to help you in your career. So, look yourself in the mirror and repeat this statement to yourself "I am a genius" and go out there and use your gifts fully. 2. The greatest leaders have had the worst luck. Soichiro Honda had his factory blown up three times and lost everything but he still prevailed. Abraham Lincoln was a defeated man for many years but he ultimately received honour as a great leader. All great leaders go through horrible experiences. So, if you are having a horrid time, you can smile and bask in the knowledge that you are part of a group of greatness. And you will prevail. 3. Many successful people had bad grades. Richard Branson did not finish school. Neither did Albert Einstein. Bill Gates and Steve Jobs didn't finish university. In Asia, Lim Goh Tong, Robert Kwok and others never had great academic careers. So, if you were horrible at school, you can still be successful. And if you were a good student, don't worry. There are tons of examples of good students doing well too. So, I would like to end this letter by asking you to do me a small favour. Imagine you are now in 2022. Ten years have passed since you read this letter. Now, imagine only positive things have taken place in your life. Describe these wonderful positive things that have happened to you. As you reflect on these wonderful positive experiences and see how everything you ever wanted has happened, I am sure you will start smiling and doing. Positive thoughts are meaningless if not accompanied by positive action. So, smile and do. Yours positively, Roshan Thiran Roshan is the CEO of Leaderonomics, a social enterprise whose goal is to help everyone smile continuously. |
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