Businesses brace for loss in productivity
KUALA LUMPUR: As Malaysians enjoy the year-end holidays spanning Christmas, the weekend and on to the new year, they can look forward to more such long weekends next year.
With 13 national holidays and 23 state holidays next year falling on either Thursday, Friday, Saturday, Sunday or Monday, there are easily seven “long weekends” if one plans for them.
January’s long stretch comes from Prophet Muhammad’s Birthday (Saturday, Jan 3) falling close to New Year’s Day (Thursday).
Chinese New Year (Thursday and Friday) will provide the extended break for February, while May’s rest from labour comes from Wesak Day (Sunday) coming two days after Labour Day (Friday).
Hari Raya Aidilfitri is expected to fall on the third Friday and Saturday of July, while National Day is on the last Monday of August.
Hari Raya Haji falls on a Thursday in September, while in states like Kedah, Kelantan, Perlis and Terengganu, Hari Raya Haji is observed for an additional consecutive day.
For states observing Sunday as rest day, November’s extended break could come from Deepavali, which falls on a Tuesday.
And the year ends with a second celebration of the Prophet Muhammad’s Birthday, which falls on Christmas Eve due to a shortened Muslim calendar next year.
Businesses are bracing for some impact on productivity as they anticipate employees will apply for additional leave to create their own extended breaks.
Malaysian Employers Federation (MEF) executive director Datuk Shamsuddin Bardan stressed it was critical for companies to plan ahead for these long stretches in order to maintain output and productivity.
“Companies need to work together with their employees so there would not be any major losses,” he said.
Meanwhile, Small and Medium Enterprises (SME) Association of Malaysia national president Teh Kee Sin said there would usually be a productivity drop of between 20% and 30% during long holiday periods.The only thing we dread are holidays that are declared at the last minute as these do not provide us enough time to prepare. — Teh Kee Sin
“In fact, many SMEs limit the number of public holidays to no more than 14 days a year.
“According to labour laws, employees in the private sector are entitled to 10 public holidays, with Labour Day, the King’s birthday, the Sultan’s birthday (state holiday) and National Day being compulsory holidays,” he said.
“The only thing we dread are ‘holidays’ that are declared at the last minute as these do not provide us enough time to prepare,” he added.
With 14 national holidays covering 16 days, Malaysia is in the global top 10 in terms of number of public holidays, with one survey ranking us at seventh.
Malaysians already eyeing next year's holidays
PETALING JAYA: Even as they are vacationing, Malaysians are already planning for next year’s holidays.
Malaysian Association of Tour and Travel Agents (MATTA) vice-president of ground transportation Jayakumar S. Sinnadurai said companies have started making reservations with travel agencies for their corporate trips.
“We have received bookings for the weekends extended by celebrations such as, Wesak Day (Sunday) and Chinese New Year,” he said.
“Islands in the east coast of the peninsula like Pulau Tioman, Pulau Kapas and Pulau Perhentian are popular choices.”
National Tourism Council of Malaysia vice-president Jimmy Leong Wie Kong claimed that more companies are organising such trips as a form of incentive for employees.
“Long weekends are great as they do not restrict company trips to just nearby locations,” Leong said.
“Such incentive trips help in employer-employee bonding and are increasingly popular.
Individuals are also planning their “escapades”.
Web designer Ivan Tong Tian Shen, 26, is looking forward to his next hike.
“I went on a 14-day trek on the Annapurna trail in Nepal earlier this year with a bunch of good friends,” he said.
“I was captivated by the breathtaking view and want to relive the experience.”
Banking executive Grace Chu, 25, who works in Kuala Lumpur, is hoping for more than just one visit from her parents in Sabah this year.
“Since they live so far away, I usually only get visits from them once a year,” said Chu, who misses her mother’s cooking.
Then there are those who just need a break.
Undergraduate Ng Lai Quan, 20, who is also an administrative and marketing assistant, said it was very stressful to study and work at the same time.
“I’m lucky to be able to manage my time but it leaves me exhausted every day when I get home,” said Ng, who is pursuing a degree in business management in Klang.
“I am grateful for these extended weekends because they give me time to rest.”
Despite all the enthusiasm for travel, MATTA is still priming itself for a weak first half for next year, business-wise.
“It is going to be a challenging year ahead. The weakening ringgit and the imposition of the Goods and Services Tax will definitely affect the tourism industry,” said MATTA president Hamzah Rahmat.
According to Hamzah, some upside including a return to normalcy is expected in the second half of 2015, after consumers are accustomed to the changes.
Borneo Trails Travel and Tours Sdn Bhd managing director Datuk Tan Kok Liang also believed that the weaker ringgit would discourage outbound travel.
By Sesiree Tresa Gasper and Adrian Chan The Star/Asia News Network
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Friday, 26 December 2014
The game-changing trends: social media, cloud, big data in information technology
Information technology players believe Malaysia is beginning to tap into the potential of the Internet of things.
KUALA LUMPUR: Social media, the cloud and big data will be the game-changing trends that will transform Malaysia’s information and communications technology (ICT) industry and spur further growth of the Internet of Things (IoT) next year, says industry players.
National ICT Association of Malaysia (Pikom) chairman Cheah Kok Hoong said Malaysia had started to tap into the rapidly growing potential of IoT, which could be a new economy by itself covering business areas such as embedded device manufacturing, connectivity infrastructure and application deployments.
He said the trend would provide a new opportunity to position the country as the hub for regional IoT innovation projects in South-East Asia.
However, companies would be increasingly challenged by new factors on the back of business agility that came with mobility, security, analytics, and miniaturisation of devices and millennial generation aspirations, he told Bernama.
“Adoption of cloud solutions will also move from conceptual to the practical stage.
“As predicted by International Data Corp’s global market intelligence, Malaysia’s big data market is anticipated to hit not less than RM75mil but many businesses have yet to consider big data as a big business for their organisation and it thus remains at a tactical level,” he added.
IT spending registered significant growth as reflected in the growth of value-added services, which are expected to grow about 13.6% in 2014 to RM68bil from RM59.8bil in 2013.
Cheah said the overall ICT services sector was also projected to grow at 12.7% in 2015 to RM77.7bil.
Meanwhile, CA Technologies South Asia vice-president Chua I. Pin said the country was entering an era where IT had become the central source of revenue for businesses.
He said 2015 would see a shift in the way businesses structured themselves, looking for new engagement and revenue opportunities using connected devices, big data and analytics, and underpinning these new models would be a fundamental shift in the way software is developed and deployed.
“Software will continue to become the primary way that consumers interact with businesses, which would evolve dramatically in 2015 as businesses become more competitive to reach out to their clients, and we will see apps shifting from simply helping people make decisions to being able to predict what people need,” he said.
Cheah added that with the need for more sophistication in the ICT industry, human capital remained the main challenge in the industry towards achieving high-income nation status.
There is a persistent and widening gap of remuneration packages for ICT professionals between Malaysia and neighbouring countries such as Vietnam and Thailand, coupled with the declining number of ICT graduates, he said.
He said although the new trends such as big data and social media had created many new job functions in high demand, the nation still faced a lack of skilled talent in the market. — Bernama
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Monday, 22 December 2014
Education: alleviating poverty or causing it, funding children with retirement fund?
It is not prudent to fund children’s education with your retirement fund
EDUCATION is the social game changer. In poor countries, it alleviates poverty. In developing nations like Malaysia, a more educated population can catapult us to developed status.
Scores of parents are striving hard to send their children to international schools to gain the holistic education, have better choices of tertiary institutions and have access to better paying jobs.
Borrowing future funds
Sending children to international schools is deemed the ticket out of mediocrity in Malaysia and to have a fighting chance in the global job market. But to what end?
Whether it is using EPF savings or selling off property to fund children’s private or international school education, this can be costly to many middle-class parents. While it may be acceptable to borrow funds to ensure our children get better secondary or tertiary education as they can always pay off the loans when they become employed, it is harder to replace “lost” retirement funds.
Therefore, it is not a prudent move to use funds meant for retirement as the fund is most needed when the “parents” are not at income-generating age any more.
Prioritising funds
With today’s Gen X-ers who are becoming parents at later age, we not only have to nurture our children but also care for our ageing parents whilst saving for our retirement. Prioritising investments is key.
1. Be realistic. Parents want the best for our children. If education savings are started early to take advantage of compounding effect, that’s great. If funds only permit an overseas tertiary education, then find the best local education option as our children can still experience holistic learning during university years abroad.
2. Gen Y-er parent, start investing now into a diversified portfolio. It is already too late if you have not started, as the cost of education will only increase.
3. Education is not just about getting the paper qualification. It is about learning. Parents can show kids new ways to learn without busting purses. Take advantage of free online courses like TedTalk or Khan Academy and “experiences” offered by museums, art galleries, nature trips and even playtime in the park.
By CHEONG WAI KUAN, VICE-PRESIDENT OF SUCCESS CINCEPTS LIFE PARTNERS
The writer can be contacted at info@successconcepts.biz / http://www.successconcepts.biz/ The Star/Asia News Network
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EDUCATION is the social game changer. In poor countries, it alleviates poverty. In developing nations like Malaysia, a more educated population can catapult us to developed status.
Scores of parents are striving hard to send their children to international schools to gain the holistic education, have better choices of tertiary institutions and have access to better paying jobs.
Borrowing future funds
Sending children to international schools is deemed the ticket out of mediocrity in Malaysia and to have a fighting chance in the global job market. But to what end?
Whether it is using EPF savings or selling off property to fund children’s private or international school education, this can be costly to many middle-class parents. While it may be acceptable to borrow funds to ensure our children get better secondary or tertiary education as they can always pay off the loans when they become employed, it is harder to replace “lost” retirement funds.
Therefore, it is not a prudent move to use funds meant for retirement as the fund is most needed when the “parents” are not at income-generating age any more.
Prioritising funds
With today’s Gen X-ers who are becoming parents at later age, we not only have to nurture our children but also care for our ageing parents whilst saving for our retirement. Prioritising investments is key.
1. Be realistic. Parents want the best for our children. If education savings are started early to take advantage of compounding effect, that’s great. If funds only permit an overseas tertiary education, then find the best local education option as our children can still experience holistic learning during university years abroad.
2. Gen Y-er parent, start investing now into a diversified portfolio. It is already too late if you have not started, as the cost of education will only increase.
3. Education is not just about getting the paper qualification. It is about learning. Parents can show kids new ways to learn without busting purses. Take advantage of free online courses like TedTalk or Khan Academy and “experiences” offered by museums, art galleries, nature trips and even playtime in the park.
The writer can be contacted at info@successconcepts.biz / http://www.successconcepts.biz/ The Star/Asia News Network
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