Share This

Showing posts with label Kedah. Show all posts
Showing posts with label Kedah. Show all posts

Saturday, January 12, 2019

Pushing blockchain revolution

(From left) World of Sharing business development manager Ice Wong, EUNEX (Asia) marketing director Kyan Lee, MBAEX chief executive officer Sebastian Ionut Diaconu, Lim, International Blockchain Research Club vice-president Sunny Chao and blockchain technology company Milletique OTO Distribution senior manager Jasmond Ng posing at Fintech Blockchain Summit in Kulim, Kedah

OVER 2,000 blockchain enthusiasts and leaders shared the latest ideas at Fintech Blockchain Summit which was held in Kulim, Kedah.

The summit themed ‘Blockchain Era, Connecting Future’ explored the potential of blockchain technology in various economic fields.

Delegates discussed blockchain trends and evolution to various platforms and digital assets.

Held at MBI Desaku Multi-function Convention Centre, the summit was jointly organised by World Crypto Organisation, Makefamous Creative Hub Sdn Bhd, Milletique OTO Distribution Sdn Bhd, Mightficent Global Sdn Bhd, Menbridges Academy Sdn Bhd and Macsintec Social Media Sdn Bhd.

Among those attending the summit was Super Minor Community vice-president Nicholas Lim who is also Chainverses magazine chief editor.

“Various groups joined us at the summit to contribute to the progression of financial technology through discussions and sharing sessions.

“We hope this summit will open up greater opportunities for development,” Lim said.

Lim opined that blockchain had good concepts and ideas.

However, he said the biggest resistance in the current blockchain development was the lack of economic support in terms of adoption.

“To overcome this, we need teamwork, good practical solutions and support from the community to push the adoption of blockchain in the country forward,” he added.

During the summit, four groups signed an MoU, including International Financial Technology Academy, Linton University College, Milletique Technology and Menbridges Academy.

The MoU aimed to promote blockchain financial technology through education with the hope of cultivating more blockchain experts in the future.

By emilia ismail The Star


Related posts:

Blockchain Festival & Conference Week, Kuala Lumpur 26~27 Sept 2018

Jack Ma Embraces Blockchain for Ant But Warns of Bitcoin Bubble

 

Bitcoin, digital currencies rally, caution prevails; virtual currency in property

 

BLOCKCHAIN beyond Bitcoin

 

What is Blockchain Technology, its uses and applications?

 

Bitcoin must not in your retirement financial planning portfolio


 

From Industrial 4.0 to Finance 4.0

Wednesday, June 21, 2017

Malaysian authorities crack down on virtual money operator, MBI Group International

https://youtu.be/zzn4zLtw_p8

Smooth operation: Domestic Trade, Co-operatives and Consumerism Ministry enforcement director Datuk Mohd Roslan Mahayudin (centre) giving a press conference on the raids which yielded luxury vehicles and cash. Despite the crackdown by the authorities, investors continue to patronise M Mall, which is operated by MBI.

Dawn raids on MBI


Key member of MBI Group International remanded 98 bank accounts containing RM209mil frozen to date Three luxury cars and cash seized


The virtual money scheme operator was hit by three early morning raids in Penang and Kedah as a multi-agency task force acted on intelligence gathered in its ongoing anti-pyramid scheme probe. Investors say they regard this development as a temporary matter, while the public has been urged to come forward and help in the investigation. GEORGE TOWN: After watching the premises closely for a month, the authorities sprang into action and arrested a key person in virtual money scheme operator MBI Group International.

Four bank accounts of a newly- established company that belonged to the suspect’s relative, with deposits totalling RM30mil, were also frozen, while luxury cars and cash were seized in raids on three premises in Penang and Kedah carried out early on Monday morning.

Domestic Trade, Co-operatives and Consumerism Ministry enforcement chief Datuk Mohd Roslan Mahayudin said the suspect, in his 50s, is believed to be the founder of the group.

“He has been remanded for four days since Monday for investigation under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001,” he said.

Speaking to reporters at the Bank Negara Malaysia office here, Mohd Roslan said the operation, codenamed Ops Token II, was staged because the premises were believed to be involved in a pyramid scheme.

“They were believed to be the cash storage transit before the money is transferred to other accounts for the purpose of the scheme’s activities,” he said.

Two of the premises were in Taman MBI Desaku in Kulim, Kedah, and one in Sungai Dua on mainland Penang.

Ops Token II was a follow-up to Ops Token I, which was carried out against Mface Club in Klang Valley and M Mall, Penang, on May 29.

Ops Token II was conducted by the National Revenue Recovery Enforcement Team, which comprises the ministry, the Attorney-General’s Chambers, police, Customs, Malaysian Anti-Corruption Commission, Inland Revenue Board, Bank Negara, Companies Commission of Malaysia and the Immigration Department.

Mohd Roslan said the team had been monitoring the premises with the assistance of police for a month prior to the operation.

Three luxury vehicles – a Jaguar, a Range Rover and a Toyota Vellfire – and cash totalling RM2.235mil were seized during the raids, Mohd Roslan said.

The team confiscated RM280,000 from the site in Sungai Dua, and RM187,612 cash and RM218,000 worth of foreign notes from one of the Kedah locations. Nothing was seized from the third location.

The foreign currencies seized were Singapore dollars, US dollars, Thai baht, Australian dollars, Chinese yuan, New Zealand dollars, Indonesian rupiah, Korean won, Japanese yen, Hong Kong dollars, Taiwan dollars, Laotian kip and Cambodian riel, he added.

Mohd Roslan said with the latest series of raids, the number of local bank accounts frozen over the investigation into the group totalled 98, with combined funds of RM209mil.

The bank accounts included 49 company accounts and 49 individual accounts.

Mohd Roslan stressed that the authorities would continue investigating the group and all its subsidiary companies.

While no investors have lodged reports against the group so far, Mohd Roslan urged investors to step forward to assist in the investigation.

The authorities have not estimated the amount of losses suffered by the investors or the public, he added.

Under the Act, the suspect faces a jail term of up to 15 years and a fine of five times the amount or RM5mil, whichever is higher, upon conviction.

The bank accounts, meanwhile, could be frozen for up to 90 days, while the authorities could investigate the matter for a year, Mohd Roslan added.

Authorities crack down on MBI

Key person held, luxury cars seized and accounts frozen



GEORGE TOWN: After watching the premises closely for a month, the authorities sprang into action and arrested a key person in virtual money scheme operator MBI Group International.

Four bank accounts of a newly-established company that belonged to the suspect’s relative, with deposits totalling RM30mil, were also frozen, while luxury cars and cash were seized in raids on three premises in Penang and Kedah carried out early on Monday morning.

Domestic Trade, Co-operatives and Consumerism Ministry enforcement chief Datuk Mohd Roslan Mahayudin said the suspect, in his 50s, is believed to be the founder of the group.

“He has been remanded for four days since Monday for investigation under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001,” he said.

Speaking to reporters at the Bank Negara Malaysia office here, Mohd Roslan said the operation, codenamed Ops Token II, was staged because the premises were believed to be involved in a pyramid scheme.

“They were believed to be the cash storage transit before the money is transferred to other accounts for the purpose of the scheme’s activities,” he said.

Two of the premises were in Taman MBI Desaku in Kulim, Kedah, and one in Sungai Dua on mainland Penang.

Ops Token II was a follow-up to Ops Token I, which was carried out against Mface Club in Klang Valley and M Mall, Penang, on May 29.

Ops Token II was conducted by the National Revenue Recovery Enforcement Team, which comprises the ministry, the Attorney-General’s Chambers, police, Cus­toms, Malaysian Anti-Corruption Commission, Inland Revenue Board, Bank Negara, Companies Commission of Malaysia and the Immigration Department.

Mohd Roslan said the team had been monitoring the premises with the assistance of police for a month prior to the operation.

Three luxury vehicles – a Jaguar, a Range Rover and a Toyota Vellfire – and cash totalling RM2.235mil were seized during the raids, Mohd Roslan said.

The team confiscated RM280,000 from the site in Sungai Dua, and RM187,612 cash and RM218,000 worth of foreign notes from one of the Kedah locations. Nothing was seized from the third location.

The foreign currencies seized were Singapore dollars, US dollars, Thai baht, Australian dollars, Chinese yuan, New Zealand dollars, Indonesian rupiah, Korean won, Japanese yen, Hong Kong dollars, Taiwan dollars, Laotian kip and Cambodian riel, he added.

Mohd Roslan said with the latest series of raids, the number of local bank accounts frozen over the investigation into the group totalled 98, with combined funds of RM209mil.

The bank accounts included 49 company accounts and 49 individual accounts.

Mohd Roslan stressed that the authorities would continue investigating the group and all its subsidiary companies.

While no investors have lodged reports against the group so far, Mohd Roslan urged investors to step forward to assist in the investigation.

The authorities have not estimated the amount of losses suffered by the investors or the public, he added.

Under the Act, the suspect faces a jail term of up to 15 years and a fine of five times the amount or RM5mil, whichever is higher, upon conviction.

The bank accounts, meanwhile, could be frozen for up to 90 days, while the authorities could investigate the matter for a year, Mohd Roslan added.

Source: The Star by christopher tanandarnold loh

Related links:


Related Posts:

Two virtual coin get-rich schemes red-flagged by Malaysian Central Bank 

 

On Mcoin, Bitcoin and points of investment 

 

Earn your money the right way: no quick buck, get ...

Thursday, February 2, 2012

Hang-ups over Malaysian history

Hang-ups over history

Along The Watchtower By M. Veera Pandiyan

It’s time to correct the inaccuracies and skewed viewpoints of historical events that have been ingrained as part of lessons in schools.

AS the furore over the status of Hang Tuah — historical warrior or mere myth — rages on, a notorious mob is conspicuously missing from the action.



It’s a surprise that the Benteng Demokrasi Rakyat (Bendera) hasn’t joined the fray by claiming him as an Indonesian icon and accuse us of stealing yet another piece of their heritage.

Hang Tuah and his sworn brother warriors (Hang Jebat, Hang Kasturi, Hang Lekir and Hang Lekiu) are also exalted in Indonesia.

While our hero purportedly hails from Kampung Duyung, Malacca, Indonesians believe that he was from Bintan in Riau or various parts of Sumatra.

There are roads named after him in almost every Indonesian city and town, along with universities and hotels. The Indonesian navy even has a frigate named KRI Hang Tuah.

Perhaps, Bendera, which gained infamy for throwing human faeces at the Malaysian Embassy in Jakarta two years ago, is too occupied with internal troubles these days.

Its leaders, Mustar Bonaventura and Ferdy Simawun, are being sued for claiming that members of Indonesian President Susilo Bambang Yudhoyono’s inner circle took 1.8 trillion rupiahs (about RM608mil) in kickbacks from the bailout of Bank Century in 2009.

As critics rebuked Prof Emeritus Tan Sri Dr Khoo Kay Kim — who sparked the debate in saying that Hang Tuah and princess Hang Li Po are purely the stuff of folklore — the Bendera bunch were reportedly busy creating a ruckus in a Jakarta courthouse.



But let’s not digress from the ongoing hullabaloo over our mythical or otherwise hulubalang (commander).

In spite of the lack of studies as proof, a host of experts and academics are defending the existence of Hang Tuah,

Archaeologist Prof Emeritus Datuk Dr Nik Hassan Shuhaimi Nik Abdul Rahman, for instance, pointed out the existence of Hang Tuah’s tomb in Tanjung Kling, Malacca.

“We can’t deny that it is not. Although there is no specific name written on it, it is from the 15th century,” he said last week.

Though not a historian, I beg to differ. For generations, locals only referred to it as makam tua (old grave).

Based on stories handed down, it was the tomb of a revered Gujerati Muslim who preached Islam in the area.

But in the early 1990s, an overzealous museum curator suggested that it could be the grave of Hang Tuah. Among the grounds cited was, it dates back to the era and a grave facing the sea is fitting for a laksamana (admiral).

He succeeded in convincing the then Chief Minister, who was actively promoting tourism as Malacca’s main industry.

But this is not the only grave of Hang Tuah. The man, said to have vanished after failing to bring back the princess of Gunung Ledang for his Sultan, has “graves” in several places in Sumatra.

Hang Tuah is also famous for wells and footprints embedded in various places.

The most recognised well is, of course, in Kampung Duyung, a thriving tourist site, now set to undergo a RM132mil makeover.

Another legendary well is located in Cape Rachado or Tanjung Tuan, a promontory near Port Dickson, Negri Sembilan.

Along a trek below the oldest lighthouse in the country, is a well reputedly dug by Hang Tuah. Close to it is his supposed footprint embedded in rock.

There was once also another footprint next to Batu Menyabong (cockfighting rock), near Kuala Sungai Baru.

Legend has it that Hang Tuah stomped his foot in joy, leaving an imprint, after his gamecock won. Alas, the area was quarried in the late 1880s, leaving only a village to bear the name.

Many academics believe that the 1537 version Sejarah Melayu (Malay Annals) offers proof of Hang Tuah’s existence.

But the problem is the people’s perception of him has been coloured by the fictional Hikayat Hang Tuah.
But it still won’t be a big deal if Hang Tuah turns out to just a myth because his legend has grown too big to be wished away.

The bigger issue is the many inaccuracies and skewed viewpoints of historical events that have been included as part of lessons in schools since the 1980s.

The Education Ministry’s 10-member panel to review the History syllabus, set up in May last year, has a crucial role to set things right.

If nation-building is the agenda, the syllabus must be based on veracity and fairness with regard to the contributions of all races and cultures.

The panel should also consider the findings of Kempen Sejarah Malaysia Sebenar (KemSMS), the alternate group comprising parents, academics and non-governmental organisations.

As Datuk Thasleem Mohamed Ibrahim, who chairs the group said, our textbooks should portray an inclusive picture of Malaysia’s past and there should not be over-emphasis on Islamic civilisation at the expense of information about other religions.

A glaring example of down- playing important history is the scant attention paid to highlighting Bujang Valley in Kedah — arguably the richest archaeological place in the region.

Researchers believe that there may have been a Hindu-Buddhist kingdom here possibly as early as 110 CE.

Kedah’s name comes from the ancient Hindu kingdom of Kedaram (Tamil), which was also known as Kataha Nagara (Sanskrit). The valley was also called Bhujanga (Dragon or King of Serpents).

History has to be rewritten to give Kedah its rightful place as the oldest civilisation in the Malay Peninsula.

The Kedah Sultanate, dating from the first Hindu ruler Maharaja Derba Raja, also known as Merong Maha Wangsa, is perhaps the oldest monarchy from the same family line in the world.

There were eight successive Hindu Maharajahs of Kedah before the ninth, Maharaja Derba Raja XI or Phra Ong Mahawangsa (1136 to 1179) converted to Islam and changed his title to Sultan Muzaffar Shah.

The Yang diPertuan Agong, Sultan Abdul Halim Mu’adzam Shah, is the 27th Sultan and the 35th ruler of Kedah, counting the Hindu predecessors.

> Associate Editor M. Veera Pandiyan likes this quote by Oscar Wilde: Anybody can make history. Only a great man can write it.

Related post:

Malaysian History & Legend; facts & fallacies; myths, heroes or zeroes?

Monday, July 11, 2011

Datuk Dr Ang Bon Beng of Nissan Tan Chong Motor

Location of PenangImage via Wikipedia


Up close and personal with Datuk Dr Ang Bon Beng

By EUGENE MAHALINGAM eugenicz@thestar.com.my

Tan Chong Motor Holdings Bhd's principal activities consist of investment holding and the provision of management services to companies in the Group that main ...

 

IT may come as a bit of a surprise when Datuk Dr Ang Bon Beng, executive director of Edaran Tan Chong Motor Sdn Bhd (ETCM), a local distributor of Nissan cars, says he was never a man with big dreams.

What's harder to believe is that Ang, who is one of the most well-known and respected people in the local automotive industry today, used to earn a living driving taxis and lorries.

“I never had big dreams. (But) I had small yet realistic ones,” he says modestly. “Big visions come from small dreams,” Ang adds.

The eldest of 10 children, Ang was born in 1949 in Kepala Batas, Penang, to a taxi driver father and homemaker mother. Life back then was about living day to day and making ends meet; sometimes living off just biscuits and water.

After completing his Form Five education, Ang had no choice but to start working, as his parents could not afford to finance his education any further. To help support the family, Ang started driving his father's taxi to earn a living.

 
BIO

BORN: March 17, 1949
PERSONAL: Married with four children and two grandchildren
HIGHEST QUALIFICATION: PhD in business administration, University of Honolulu (Hawaii), USA
CAREER: Executive director for Edaran Tan Chong Motor Sdn Bhd and sits on the board of various subsidiaries of Tan Chong Motor Group
FAVOURITE FOOD: Char kuey teow with duck egg and loh mee with vinegar
FAVOURITE PLACE: Kepala Batas, my hometown
HOBBY: Listening to Buddhist music
PHILOSOPHY: Believe, commit, do and deliver
INSPIRATION: My father for instilling the right values in me; Tan Sri Tan Yuet Foh (the company's late foun der) for motivating me in pursuing career advancement; and Datuk Tan Heng Chew for grooming and preparing me for the cor porate world

“My father drove in the day and I would take over in the nights. It was tough. You would hope to make at least RM10 a day, but sometimes you can't even reach that.


“Sometimes, the taxi would break down and the repairs would cost RM20 or RM30. On certain days, if you are unlucky, you get stopped by the police and the passenger you're carrying is forced to get off and you don't get paid,” Ang reminisces.

In 1970, after several odd jobs, a friend approached Ang for a salesman job with the Tan Chong Motor Group. At the time, the company was expanding its presence in Penang. In the hopes of earning a better living for himself and his family, he took the job.



Despite knowing next to nothing about selling cars, Ang knew he had found his calling.

“After going through so much of hardship in life, selling cars wasn't hard. I persevered in taking on the challenges that Tan Chong had set out for me to do. I was motivated to push myself further each time I achieved my sales target.”

Ang was promoted to sales manager in 1981. The following year, he was posted to Sarawak and appointed Kuching branch manager. In 1989, he was made northern states manager, overseeing branches and dealers within Penang and Kedah.

Ang was eventually made sales director in 2001, and in the following year, he was appointed executive director for ETCM a post he still holds today. Ang also sits on the board of various subsidiaries of the Tan Chong Group.

The driven man

With over 40 years of experience under his belt, Ang is arguably one of the longest serving individuals to be involved in the automotive industry in the country.

Not many can lay claim to starting off from the front-lines of the automotive business and making it all the way to the top within the same organisation.

 
Humble beginnings: Dr Ang with his first car in his younger days.
Under Ang's helm, the Tan Chong Group has survived three recessions

 During the global financial crisis in 2009, while other car companies were struggling to manage inventories and pushing sales, Ang practised an internal safeguard strategy, or vision statement, called “Control the free-fall.”

The strategy was to drive his workforce to work harder in the downturn (than they usually would in good times) or risk spiralling down in terms of sales.

That vision statement worked well for the company despite a fall of 2% in total industry volume, Nissan sales in 2009 increased to 29,683 units from 28,313 units in 2008, which was a 5% increase.

 
 http://www.nissan.com.my/http://www.nissan.com.my/images/common/allvehicles.gif

This year, ETCM and other Japanese makes are facing a new kind of challenge production disruption as a result of the earthquake that hit Japan in March. On top of this, the recently amended Hire-Purchase Act 1967 (HPA) that took effect on June 15 is also causing a slowdown in vehicle registrations for all car companies.

“To drive my workforce and to safeguard against any impact, we are applying a vision statement called 55%-45%. I tell my team that if they feel they have put 100% into something, it is only 55% and there is still (a potential of) 45% more to go,” says Ang.

Ang says the strategy for this year is to still be able to continue growing market share within the local automotive industry.

“You constantly need to move forward and be able to expand your business. It's what the shareholders demand.”

Ang says one of the most important recipes for success is having the ability to adapt to changes around you.

“The market is constantly evolving and you have to keep up with the pace of the dynamics, and as a chief (of the company), you need to set a good example to your people. If you don't equip yourself with the latest strategies or knowledge, you'll be squeezed out by your competitors.”

Ang says he makes it a point to communicate with the sales advisors, all 700 of them, on the importance of staying ahead and being able to adapt to the changes, especially in times of challenges.

He reminisces about the time when Nissan Motor Co Ltd president and chief executive officer Carlos Ghosn visited Malaysia in 2008.

Ghosn had limited time here and with 20 minutes to spare, Ghosn wanted to visit ETCM's Serendah (Rawang) manufacturing plant, which is nearly an hour's drive from Kuala Lumpur!

“When our people were told that they had to find a way to transport him (Ghosn) to Serendah in 20 minutes, they thought it was crazy. The only way to do it is to fly him there by helicopter. “So we did just that we flew him by helicopter.”

The moral of the story? Be prepared for change at any given time, says Ang.

“I always talk to my people on the importance of change in a rapidly changing environment. It's demanded of them if they want to survive.”

At 62, Ang, who has a PhD in business administration and master's degree in law, seems to show no signs of slowing down. Despite the qualifications that he already has, Ang is considering pursuing a masters degree in psychology.

“Having the (working) experience is one thing but (having the) academic qualification is also important,” he says, adding that pursuing a masters degree in law helped him understand legal documents and terminology associated with the automotive industry better.

“It (academic qualification) is an important asset that helps to improve my performance in this company,” Ang says.

Ang's constant pursuit of knowledge and self improvement are traits he has inculcated in his children. He is quick to admit, however, that despite being able to provide a privileged life for his family today, in no way are his children having it easy.

“They say I'm a tough father,” Ang enthuses, adding that when he looks back at his career, he considers joining Tan Chong and marrying the right woman the best decisions he's ever made.

“In pursuing a career, you need a lot of support from your family. My wife has always supported me all the way. I'm still faithful to her,” he says with a laugh.

Ang, who has been married for nearly 40 years, has four children. Sadly, his youngest son passed away in a car crash in 2009.

As the chairman of the Penang State Social Welfare Council of 20 years, Ang spends time with the senior citizens at the old folks home in Bukit Mertajam whenever he can.

“It gives me satisfaction to be able to improve the lives of others. Their most common lament is that they wish they could turn back the clock, so that they won't repeat the mistakes of their past and be where they are today.”

Ang says he often shares his experiences (at the welfare home) with members of his staff.

“I tell my people that they should always make the best use of their time and not waste it doing unproductive things.”

That message is in fact a philosophy that was passed down to Ang by whom he considers his greatest mentor his father.

“My father always told me that if you keep walking, you will reach your destination. Along the way, it may rain and someone (or something) might get in your way and end up slowing you down.

“It might take you a little longer, but as long as you keep on walking, you will reach your destination. Eventually, you'll be there.”

Related Articles:
  • Nissan’s Ghosn is highest paid exec at a Japanese firm
  • Nissan CEO's $12M pay gets shareholder scrutiny
  • Japan factory output gains for second month

  • US auto sales cooled in May due to shortages  

    Nissan Leaf earns top crash safety rating

     
    The Nissan Leaf earned a top 5-star rating from the National Highway Traffic Adminstration and a Top Safety Pick Award from the Insurance Insitute for Highway Safety.The Nissan Leaf earned a top 5-star rating from the National Highway Traffic Adminstration and a Top Safety Pick Award from the Insurance Insitute for Highway Safety.

    NEW YORK (CNNMoney) -- The Nissan Leaf earned a top five-star rating in the federal government's new, tougher crash test rating system.

    Under the National Highway Traffic Safety Administration's new rating system, all vehicles are given a single rating of one to five stars based on their scores in seperate front and side impact tests as well as resistance to rollovers.

    The Leaf earned four stars for occupant protection in front-end crashes, five stars for side crash protection and four stars for resistance to rolling over, resulting in the overall five-star score.

    The Leaf is an electrically powered plug-in car. It can go about 70 miles on a charge, according to EPA estimates.

    NHTSA used updated crash test regimen, introduced last year, which includes a new side crash test in which vehicles slide diagonally into a pole, mimicking a car skidding into a light post or tree.

    General Motors' Chevrolet Volt also recently earned a five-star NHTSA safety rating.

    Safest fuel-efficient cars

    The Volt and the Nissan (NSANY) Leaf electric car were both recently given Top Safety Pick Awards by the privately funded Insurance Institute for Highway Safety. The Institute, which is financed by auto insurers, conducts a different set of crash tests from those conducted by the government. To earn a Top Safety Pick Award, a vehicle must earn top scores in all of the Institute's tests.