The Star Online: Business
The Star Online: Business |
- Australia delays equity clearing plan
- Employees have career choices as organisations become competitive in placing people at the centre of their business
- Lower February vehicle sales expected
| Australia delays equity clearing plan Posted: 11 Feb 2013 05:25 PM PST SYDNEY: The Australian government is delaying a decision on opening the country's equities clearing facility to competition for two years, extending the monopoly of stock exchange operator ASX Ltd. Treasurer Wayne Swan said yesterday that the ASX had agreed to develop a code of practice within six months to ensure transparent and non-discriminatory access to its infrastructure in the interim. So far, only European clearing house LCH.Clearnet has applied for a licence to provide rival equity clearing services in Australia. London-based LCH.Clearnet was not immediately available for comment. Concerns about relinquishing control of the nation's clearing and settlement systems was a major reason cited by Swan when he vetoed an US$8bil takeover bid from Singapore Exchange for ASX in 2011. That scuppered ASX's plan to join a wave of mergers in recent years between exchange firms around the world, as traditional operators try to cut costs and boost their offerings to fend off growing competition from alternative trading platforms and so-called "dark pool" operators that link anonymous buyers and sellers. The ASX deal with Singapore would have bolstered the Australian bourse against the October 2011 launch of the Chi-X platform, owned by Nomura, which ended the ASX's two-decade monopoly. The Council of Financial Regulators will review the new Code of Practice at the end of the two-year period and consider whether a new entrant should be permitted. Chi-X signed a five-year deal with ASX Clear at its start-up, but stressed the agreement was non-exclusive and it would welcome the opportunity to use a different clearing house. In a bid to dissuade defectors to a potential rival, ASX this year began sharing half the extra revenue it makes from its trading, clearing and settlement business with customers in a scheme to last three to five years. ASX chief executive Elmer Funke Kupper said yesterday that the existing settlement system was "efficient, well-capitalised and well-regulated", adding that the ASX was making investments to strengthen Australia's position in Asia. That includes the launch of the clearing of over-the-counter (OTC)-traded derivatives this year. Yesterday's decision applies only to the clearing of cash equities and does not extend to clearing and settlement services of either exchange-traded or OTC derivative or debt markets. There was A$14.8 trillion of trade in OTC derivatives last year, against A$1.1 trillion of turnover in equities, suggesting a lucrative market for both ASX and LCH to pursue. ASX shares were up 0.45% at A$36.11 in early trade. The stock has risen 18% over the past year, just ahead of a 16% rise in the S&P/ASX 200 index. - Reuters |
| Posted: 11 Feb 2013 05:23 PM PST OVER the last decade, the war for talent has become feistier as organisations become extremely competitive in their focus of placing people at the centre of their business. This in turn has lead organisations towards a quest of finding the best suited talent in the speediest of time. As a result, employees today can take comfort in knowing that they have career choices. Let there be no doubt that even career choices can lead to impactful career consequences, be it positive or negative. As a human capital specialist, we see many candidates jump into job opportunities without taking the time to evaluate their choices. There is more to a job besides the remuneration and its benefits. Before jumping into something that seems enticing, be sure to evaluate the impact that the potential job or organisation may have on your future career. Discover your passion first In order to achieve greater heights in any organisation or a career, it is imperative to firstly determine your passion or as I prefer to call it "a calling". In order to ensure that there is a consistent pattern in the tenure and contribution in any role or organisation, one should align their interest to roles and organisational culture that fit them. Never underestimate the result of combining personal interest with the right role. Like in any relationship, we are taught to assess common interest and objectives. The employee value proposition is integral to every role or organisation, unless you've decided on what type of career that would force you out of bed in the morning with a grand "hooray" then your career journey may be less exciting and, perhaps, fairly challenging. As Confucius said: "Love what you do and you will never have to work a day in your life". Remember that there will always be someone that fits the role, but the question is if your interests match the role. If you are able to decipher this early enough, you would most likely look back in awe of your achievements than regret. Be resourceful and proactive If you really want to bask in the glory of your success, be relentless in your pursuit for a career of your choice. It is no longer enough to research the role or the organisation, be open to understanding the scope of work as well as the key results expected of you should you undertake the role. Be adamant about networking with different people that may be able to give you insight towards the culture and the beliefs of the organisation. The last thing you want to do is spend your time in an organisation that clashes with your value system or shock you culturally. No one else is responsible for a poor job or career choice but yourself, be accountable towards acquiring the information that would form the basis of your decision. Take your time to decide as relentless pursuit of any career opportunity, although may be rewarding in the short run, will only succumb to the laws of diminishing returns. No one should be subjected to a dormant and stifling professional growth due to the lack of knowing. Don't be in a hurry, but information busy! Be the best you can Once you have decided to anchor yourself in an organisation, be able to contribute positively to the role or organisation. In order to be noticed and recognised, you should you be prepared to be vocal with ideas and improvements that would benefit the organisation. Demonstrating your achievements is critical regardless of the time you spend within the organisation. The accomplishments will serve you well in your ability to grow within or out of the organisation. Bringing the best out of yourself also requires that elusive "balance". As clich as it may sound, it is pertinent in addressing the issue of your survival in the role or organisation. If you are amazingly good at what you do, you needn't actively seek other career opportunities. As a matter of fact the job will find you! Build your personal brand You have your entire career to build your personal brand, who and what you are associated to personally and professionally does help or deter the future career opportunities that come your way. After all, organisations today are looking for the best talent with the better reputation. Your credibility is predetermined by your achievements as well as the choices you've made in your encounters professionally. Hence, be selective with the roles you undertake and the organisations you work for. Your career vision should include clarity on your career path of choice and the roles and organisations that you chose should build your personal brand positively. Be ready to reinvent yourself as you garner more experiences, innovate your thinking and redefine yourself so that you consistently build on your brand. Be aware that you should be able to connect your career choices you've made with the personal brand you've built over the years. They should be complimentary to your achievements by choice and not by chance. Be grateful Life is too short and the market is getting smaller everyday! Do not be fooled into believing that leaving an organisation in a distasteful manner subject to the situation is an acceptable reason. Do not be one of the statistics who upon finding the next dream job behave in a manner that is unappreciative to your current or previous organisation. Undervaluing any person or organisation only emphasises the fact that you had failed to do the necessary due diligence. Gratitude is a meaningful description for every form of experience that you may have gained from a role or organisation. I see many individuals either outgrow themselves or the organisation but fail to give credit to the learning experiences that they have garnered in the very many organisations that they've been with. Be appreciative of the opportunities of your past as it has shaped you and never burn bridges as it may come back to haunt you. It is a guarantee that the career choices you make today will define your career options. In an environment that is highly competitive, it only means that taking more time to think through your decisions is a pre-requisite. Do seriously consider the work ethics you embody, the career opportunities you assess and select. No matter what the outcomes are, be sure to continue building on your personal brand. |
| Lower February vehicle sales expected Posted: 11 Feb 2013 05:16 PM PST PETALING JAYA: Total vehicle sales for February will be either flat or lower than the 44,013 units registered last year, said analysts, mainly due to the shorter working month and the timing of the Chinese New Year (CNY) holidays. "We expect February sales to be in the 40,000-unit range, flat to slightly lower than last year," said RHB Research analyst Alexander Chia. He noted that in 2012, the CNY fell in the month of January, contributing to marginally better sales hence. In January last year, new vehicles registered numbered 40,948 units, according to data by the Malaysian Automotive Association (MAA). "We expect sales in February this year to be down month-on-month (m-o-m), given the shorter working month due to the CNY, in addition to the hangover from the strong December 2012 and (expected) January 2013 sales," he said. Total vehicle sales in Malaysia grew 4.6% to hit a record high last year, with total industry volume (TIV) at 627,753 units. It was also the third consecutive year that the TIV had surpassed the 600,000-unit level, according to the MAA. According to reports, total vehicle sales in December 2012 grew 27% year-on-year (y-o-y) and 13% m-o-m to 60,470 units, backed by auto companies' aggressive promotional campaigns in conjunction with festivities such as Christmas and New Year. Analysts said the strong sales probably continued in January. "December 2012 sales were strong. We expect January 2013 sales to also be robust y-o-y, given the low base (as last year's CNY was in January), the seasonal effect (of consumers preferring to register vehicles in the new year) and the overflow from the December promotions." Another analyst from a local bank-backed brokerage pointed out that sales in January 2012 were affected by the disruption in the supply chain of certain Japanese makes due to the Thailand floods. "Sales were also initially affected in 2012 due to the implementation of Bank Negara's responsible lending guidelines, which came into effect on Jan 1 last year. "So, as it's a lower base to compare with, sales in January should be better, compared with last year," he said, adding that he also expected vehicle sales to be "flattish" this month. Under the new lending rules, loans are approved based on net income compared with gross income previously. The new guidelines are intended to help manage the household debt in Malaysia to reasonable levels. The MAA will release the total vehicle sales figures for January later this month. It has forecast the TIV to grow to 640,000 units this year. |
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