Some of the things that they have been doing for this charitable cause include the provision of basic clothing and first aid to the people that survived the earthquake. The organization has also been closely associated with the work of the Haiti Gospel Mission in order to improve the lives of the local community. There is Cydcor Company profile where you can find out about some of the initiatives that they have been involved in. You can always join our fundraising efforts by making your own contribution to the kit.

The relationship with the Haiti Gospel Mission came about when one of the Cydcor associates introduced the parties. This is an organization that works within the community in Haiti but when the time came for emergency help, they were there to help. There is a FaceBook page which indicates some of the associates that have been involved in the initiative so far. This is all about helping people that have faced the ravages of a very significant natural disaster. Cydcor determined to help with the resettlement of people, and will go beyond just emergency help but also some charitable work for sustainable projects within the community.

The work with the Gospel mission is not going to end here. The Cydcor group intends to continue bringing the donations in through various contacts. Cydcor works in many diverse industries such as office products, finance, telecommunications and energy. Further, Cydcor work with people that have independent but licensed organizations that need sales representatives. In North America alone, Cydcor have been able to establish two hundred offices.

As co-chairman of New York City Investment Fund, Henry Kravis has been at the forefront of efforts to support small businesses that create jobs for the local communities. Several special purpose program have been implemented to respond to the specific needs of the community in that area. Up to eleven million dollars was raised to create 88 recoverable grants. These were used to support the small businesses that became victims of the September 11, 2001 attacks.

Henry Kravis has also served on the New York Public Television networks including WNET.ORG, WLIW2 and WNET. He is the chairman of the board at Columbia Graduate School of Business. This is in addition to the leadership roles that Henry Kravis holds at the Claremont McKenna College and the Rockefeller University.

Henry Kravis has been actively involved in building leadership skills across the different spheres of influence he has become involved in. For example, he founded Kravis Leadership Institute, as well as the Kravis Prize for Leadership. These initiatives are meant to recognize the achievements of non-profit organizations with an international presence. The emphasis is on sustainability, general leadership and creativity.  These roles have enabled Henry Kravis to contribute towards the development of local and international communities.

Henry Kravis is a holder of a Bachelor of Arts degree in Economics from the Claremont McKenna College. He also holds a Masters of Business Administration degree from Columbia Graduate School of Business. Henry Kravis comes with a world of experience in terms of directorships in both the private sector and the public sector. Henry Kravis is currently a member of First Data Corporation board. He has also been involved in trusteeship roles with educational and cultural establishments such as the Partnership for New York City and the Mount Sinai Hospital project.

Trading volume was disappointing as it only increased slightly in this last week when the market rallies after the rebound. The average daily trading volume last week was 750 million shares and the previous week’s average was 662 million. Average daily trading volume below 1billion shares are considered weak. The market was slightly bullish because of positive leads locally and internationally. Locally, industrial production and export numbers were growing on-month and jobless rate fell. World Bank confidence about having a positive GDP in year 2010 and increasing foreign participation in the local equity market boost confidence further.

Internationally, governments in developed nations are confident that the global economy is improving and Australia is the first G-20 nation to raise key interest rates since the start of the global financial crisis more than a year ago as the government believes that the emergency low rates are no longer needed. In the world’s largest economy, manufacturing increases and jobless claim declines.

Daily FBMKLCI Chart

The US Dollar continues to slide against major currencies, continuing its down trend. This again has pressured prices of commodities to increase. Price of Gold in COMEX continues to make historical highs and is currently at US$1,050 an ounce, increasing 5% in a month. Crude Oil in NYMEX continues to stay around US$70 a barrel. Rubber futures in TOCOM slightly rose month-to­-month but it jumps about 6% last week to JPY$214.80 a kg. However, Crude Palm Oil futures in Europe Store Exchange declined from EUR 2,200 per metric ton a month ago to EUR 2,030.

The FBMKLCI is well supported by the short term trend. The benchmark index continues to stay above the short to long term 30 to 90-day moving averages despite several pullbacks from the uptrend that started in April. A major correction is yet to be seen in this 6 months bullish trend. Momentum indicators are about to turn bullish again after mixed signals in the past few weeks.

The RSI and Momentum indicators are starting to move away from the middle level and the MACD indicator is about to cross above its trigger line or 9-day moving average. ADX indicator has just started to increase again, showing good strength in momentum last week.

The Bollinger Bands started to expand again with the FBMKLCI penetrating the top bands after testing the middle band two weeks ago. The same situation (the expansion) happened exactly a month ago and the FBMKLCI made new highs for the year. Therefore, we may expect the same to happen again and this time the projection is 1,280 points before it finds the next resistance. The average daily trading range is the same as the previous week.

Price Map - Direction Forecast

The immediate support and resistance levels are still at 1,196 points and 1,230 points respectively. The FBMKLCI is currently testing this resistance level for the second time in a month. The market is set to test newer highs because of the strong bullish reversal and breakout. The next resistance level is between 1,280 and 1,300 points. However, if the market fails to make new highs and the FBMKLI falls below the 1,196 points support level, then the next support level it is going to test is at 1,150 points.

Looking ahead, the leading Ichimoku Cloud indicator continues to contract last week and this indicates that the support for the uptrend is getting thinner. Being a leading technical indicator, a major trend reversal is not expected until the cloud bands cross. Therefore, there is still a chance for the market to maintain its uptrend at least for another month.

The market sentiment is still bullish and the FBMKLCI is expected to rise in the short term to the next resistance level between 1,280 and 1,300 points. This is only valid if the benchmark index stays above the immediate 1,196 points support level. In the longer term, a major correction is expected to take place once the index moves into the next resistance level. My price map/direction forecast chart for FBMKLCI remains the same as last month.

Therefore, current opportunity is only good for short term traders who trades short term profits because the market is expected to test new highs but with a limited upside. However, accumulating shares for the long term (3 to 5 years) may be too risky at current levels as prices are way above the long term average. Opportunity for long term accumulation only exists when the market pulls back to its long term average or below it (a 200-day moving average can be used as a benchmark).

So, longer term investors have to patiently wait for a major correction to happen. My longer term

forecast (1 year) for the FBMKLCI when it goes into a major correction is still at 900 points and therefore accumulating shares when the index moves to this level or slightly above provide a better low risk opportunity for longer term investors.

Malaysia Export and Imports Chart

We previously warned that whilst there will be some sporadic spurts of stronger exports, they may not signal a meaningful recovery yet. Our view is that exports may not recover to levels seen in mid-2008 for another 2-3 years.

The YoY fall in Aug-09 exports computed continued to be led by a collapse of manufactured goods exports, weakness in commodity prices and a lower volume of commodity exports.

US workers facing record periods of unemployment, negative personal income growth in 4 of the last 6 quarters, and a sharp fall in wealth, will cut spending on the so many discretionary spending items that have formed the core of Asian exports, cannot anchor a global recovery. Restocking by businesses and

public sector spending can only provide a temporary bounce in output that must be rejoined by a consumer spending revival. A revival with conviction of investment spending by businesses is also out of the picture at this juncture with low capacity utilization globally at this juncture.

Weakening of exports accelerated in major markets. ASEAN exports accounting for 25.7% of total, fell a steeper 24.4%YoY (Jul-09: -20.1%YoY) on lower exports of electronics products, refined petroleum products and transport equipment.

Asia Export Growth League Table

Exports to China rose +0.9% YoY (Jul-09: -16.9% MoM), the first increase YoY in 10 months on gains in exports of electronics and crude oil. Exports to China were also 10.3% higher MoM. The positive YoY growth was due to a lower statistical base in Aug-08, the month when severe drops in exports to China began to be recorded in 2008. Exports to the US dropped (-26.7% YoY vs -29.0%YoY in Jul-09), also falling 7.8%MoM on lower electronics exports. The pace of drop in exports to Japan slowed (-25.0% YoY in Aug-09 vs -32.7% YoY in Jul-09) on gains in LNG and crude oil exports. The pace of drop for exports to the EU at -25.9% YoY was however, steeper compared to Jul-09’s -23.9%YoY due to palm oil as well as chemicals and chemical products exports letting up as the recession in major Euro zone economies particularly Germany.

Exports of Electronics were a shade lower MoM at RM20.57b in Aug-09 after rising for the 6th month in a row to RM20.63b in Jul-09 from RM18.6b in Jun-09 and constituted 43% (Jul-09: 42.2%) of exports although still down -13.1%YoY vs -15.6% YoY in Jul-09. Palm Oil exports making up 6.2% of exports (Jul-09: 8.1%) were down a sharper -35.3%YoY (Jun-09: -33.5% YoY) after a major MoM drop. Oil and Gas exports making up 12.5% of exports (Jun-1 09: 12.0%) fell 50% YoY, still amongst the most affected of export categories.

Chemicals and Chemical Products which contributed 6.1% of exports (Jul-09: 6.2%) fell -19.0%YoY (Jul-09: -26.3% YoY). Machinery and Appliances which made up 3.1% of exports (Jul-09: 3.6%) fell at a faster clip of -12.3%YoY (Jul-09: 10.2%YoY) and Timber Products adding up to 2.6% of exports(Jul-09:2.6%) fell

15.1%YoY(Jun-09:-16.0% YoY).

Imports at RM38.26b (Ju-09: RM40.98b) dropped by 6.6%MoM and were sharply off by 18.6%YoY (Jul-09: -16.0%YoY). Jan-09’s -30.4%YoY remains the fastest pace of annual contractions ever on record. Imports of intermediate goods made up 69.4% (Jul-09: 68.7%) of imports, and its fall on a percentage change YoY basis dampens somewhat hopes of a strong recovery, thus continuing the strong trend in preceding months that reflect the recovery in imports of raw material needs for goods to be processed for re-export. On the other hand, capital goods imported amounted to 14.3% (Jun-09: 14.8%) of imports, reflecting weaker capacity-boosting investment plans by domestic corporations that support future growth. Consumption goods made up 7.1% of imports (Jul-09: 7.2%), reflecting lower consumer spending. Consumption accounted for 65.3% of Malaysia’s real GDP in 2Q-09.

The Trade Surplus expanded again to RM9.58b (Jul-09: RM7.8b), a 22.2% jump MoM despite the MoM drop in exports. The widening of the trade gap left Aug-09’s surplus at exactly the mean YTD monthly surplus of RM9.58b. whilst it is still sharply off a peak at RM15.5b achieved in Jun-08 it is a healthy level. Whilst the trade balance dropped in Jul-09, it was read as a sign of some strength rather than weakness.

The Aug-09 data thankfully continues to hint at a V-shaped rebound after the exports slump hit a trough (see charts below). The current scenario does not yet rule out an L-shaped recovery for Malaysia although the possibility of a W-shaped recovery or a double-dip recession in the West appears small. The anchor for Malaysia’s export recovery appears to be China, but the sustainability of this source of exports recovery is thought unreliable whilst it is rising under conditions of a massive stimulus. The global economic turmoil may continue to drive further deterioration in the domestic environment.

Domestic sources of demand remain the key and steady implementation of the Stimulus Spending package is key. Our chief worry is the possibility the economy will fail to respond in a sustained manner and dismal private sector growth is observed way past the phase of aggressive public sector stimulus spending at a time when US consumers appear to be veering towards permanent frugality and Asian consumers are not ready to fill the void.

The meltdown resulted in the collapse of several large banking and financial institutions in the United States and Europe due to weakness originating from the mortgage and mortgage backed securities markets.

However in Asia, many were not too worried about the property market due to the regulated control of the banking system by their country National Bank and the well-established and matured property developers.

As a result of planned developments and sale of property, the Asian property market has remained healthy, despite the country’s Gross Domestic Product (GDP) contraction of 6.2 % in the first quarter of 2009.

As an indication of the strength of the property sector, the National Property Information Centre (NAPIC) recorded higher transaction volume of some 4.0% compared with a decline of 17.8 percent in 4th quarter of 2008.

In its study, NAPIC also recorded 79,149 transactions valued at USD 4.701 billion in 1H 2009 with the Residential property sub-sector being the most dominant. Total transaction volumes were 63.8% while total transaction value was 55.1%.

The development of residential property remained promising with upward trends in the completion and starts category but dwindling numbers in new building plan approvals.

Currently, by 1H 2009, the residential property sector recorded an existing supply of 4,230,328 units with and incoming supply of 544,926 units. Planned residential supply is recorded at 669,554 units.

In the demand scenario for the residential sales performances there were lesser units that were launched into the market in the past quarters. However, sales performances during the nine months were between 70% and 85% since the first quarter of 2007.

There were also signs that the Asian property market was affected by global economic and financial crisis but the market has remained healthy overall.

Education        : University of Texas, Austin, 1983–1984

Occupation      : CEO and founder, Dell, Inc.

Net Worth       : Above $12.3 Billion (2009)

Religious         : Judaism

Spouse(s)         : Susan Dell

He’s Michael Dell, the CEO of Dell Computers and one of the greatest entrepreneur of this generation. At 40 years old he’s built one of the most successful companies in the world and he’s one of the world’s youngest billionaires. The company has grown to $32 billion in 18 years. In fact, great leadership is what makes him so highly successful, not technical brain. He was at number 18 on the Forbes’s list of richest people in 2002 and 2004 respectively; while in 2003 he was on 24.

The PC business is full of rags-to-riches stories. But perhaps none is as dramatic as the rise of Dell Computer. He started off his company from his room at the University of Texas with less than $1,000. After being one year at University, he dropped out as his part-time computer business took off.

He was born on February 23, 1965. In 1984, the 19-year-old Michael Dell had a simple idea. Why not sell custom-made computers directly to customers? At the time, computer manufacturers sold their machines wholesale to retailers, who marked up the price for consumers. With about $1,000 and an unprecedented idea in the PC industry, Dell found a way to bypass the middleman and sell custom-built PCs directly to customers. Dell assembled computers from cheap surplus parts, and then created the machines to the specifications of his customers.

What makes Dell Computer unique is not what it sells, but rather how it sells it. Dell was first in the PC industry to pioneer the direct-selling model, a method that competitors such as Compaq and Apple Computer are only now starting to embrace. By cutting out the intermediary and creating a direct link between manufacturer and customer, Dell was able to provide customers with computers that cost less and that were more apt to meet customer needs. Prior to this there was absolutely no aspect of customization of the PC. Buying computer invariably involved the presence of a middleman. He also pioneered the industry’s first service and support programs.

Twenty-one years later, the simple idea is considered a revolution in the technology world, and it still working. Dell’s still doing essentially the same made-to-order computers directly to customers but on a scale that now brings in $18 billion a year and employs 25,000 people. Dell’s breathtaking success made him, at age 27 the youngest CEO of a Fortune 500 company in history, and Fortune magazine named his company one of the most admired firms in America, following General Electric, Coca-Cola, and Microsoft. Dell has offices in over 34 countries and a presence in more than 170 countries. The company’s business clientele includes almost all the companies in the Fortune 500.The company manufactures its PCs in six locations: Texas, Tennessee, Brazil, Ireland, Malaysia, and China.

The next frontier for Dell has been the Web and once again the computer giant seems to be holding its place as a leader in the PC industry. Dell is acknowledged as the largest online commercial seller of computer systems, with $50 million per day in online sales. The value of Dell’s stock is reported to have risen almost 70,000 per cent over the past decade.

It’s important to point out that Michael Dell’s parents wanted him to stop playing with computers in college and get into medical school. But Michael Dell followed a different path. He is today credited for inspiring millions of entrepreneurs to pursue their dream of creating new innovation and not simply do what you are told to do. It’s important that we listen to ourselves and follow the path that we desire. People around us have great intentions, but many times they don’t understand the life and goals of the entrepreneur. Believe in yourself.

There are two key reasons for his continuing success. Dell Corp. is renowned for its ability to drive down prices. The products are affordable because of the company’s hold over their vendors. The other reason is that Dell has been able to leverage the power of the Internet to great advantage. Dell is the largest supplier of PCs over the Internet. He is an IT governor of the World Economic Forum and is a member of the U.S. Business Council. He is also a member of the Computer Systems Policy Project, serves on the U.S. President’s Council of Advisors on Science and Technology. Dell has been honored many times for his extraordinary leadership capabilities, earning the titles of “Entrepreneur of the Year” from Inc. magazine, and “Man of the Year” by PC magazine. He constantly heads the list of the world’s youngest billionaires.

Michael Dell can be painfully shy, but that doesn’t mean he isn’t charismatic. Rarely has a bad word been uttered about his personality. As ‘a visionary, leader, entrepreneur, boss, person, and manager, Michael gets nothing but praise. For good reason too; he proved that a college dropout can fulfill his dreams and succeed. Our advice though, is that unless you have visions of grandeur where you want to build a multi-billion dollar company, stay in school.

Michael Dell explained his secrets of success in an entrepreneurs’ conference in Texas, when he said “First of all, don’t start a business just because everybody else is doing it or it looks like it’s a way to make a lot of money. Start a business because you found something you really love doing and have a passion for Start a business because you found something unique that you can do betty’ than anyone else. And start a business because you really want to make a big contribution to society over a long period of time.”

This is an opportune time for business owners to seriously consider investing in commercial properties, most notably shop houses, office lots and factories, as a means of expanding their operations, utilizing surplus funds or simply to diversify their investment portfolios. Investment in private real estate such as houses for rent may also help positively diversify investment portfolios.

Commercial properties are a good buy at this juncture because business owners can capitalize on the significant drop in mortgage rates which was preceded by some national bank’s cutting of the overnight policy rate to an all-time low of 2% per- annum in February 2009. Borrowers will be able to enjoy the prevailing low rates and save substantially on interest payments by leveraging on the low mortgage rates and lock in at this level for the tenure of their loan.

For risk conscious investors, current alternative investment instruments may prove to be beyond their risk profile in this bearish environment. To mitigate risk, investors should balance their portfolio with a selection of differing investments. As such, some banker and investor believe that commercial properties offer a more stable rental yield. As the latest property induces have shown, demand for commercial spaces has remained relatively constant and unabated compared to other investment vehicles. Properties continue to be excellent assets to hedge against inflation when prices start to rise on the heels of an economic rebound.

While it is ideal for investors to buy at the right time, the right place, and at the right price, most of the time it is all about striking a balance. An estimated 3 million square feet of office space as well as another 3 million square feet of retail space will be added to the Kuala Lumpur landscape this year as a result of launches from the past couple of years. Investors will have ample opportunity to select from diverse locations and types of spaces, and also reap the benefit of numerous freebies offered by developers ranging from free legal costs to discounts in prices. They will also be privy to an array of financing schemes.

Business Mortgage One Account (BMOA) is specifically designed for SMEs and business owners who in the course of their operations will have periods of surplus funds. The BMOA provides a very smart solution for business owners to enjoy savings by using cash in their current account to shorten their loan principal amount, with the added benefit of redrawing with no penalties charges from their surplus payments.

In situations where the SME wishes to ensure his funds are fully optimized for the operating cycle of his business, our SMI One Account is the perfect business mortgage solution because he gets the best of both worlds — funds in his operating account can generate interest credits for the benefit of his business mortgage outstanding.

While we are mindful that property purchases are long-term investments and being fixed assets, are not as liquid as investments in equity; the return on property investment may not be lower than equity investments.

Every 5 hours somewhere in the world a new “McDonald’s” fast food franchise is opening. Can you imagine a business which opened its door in 1955 is still so strong today? Well, its founder Ray Kroc, sure did. Kroc, was no inventor. But he knew a great idea when he saw one. After all, Kroc’s entire life thrived on discovering just the right idea that would live on well after the man himself. From a paper cup salesman, to real estate broker, piano player, and finally, milk shake mixer salesman, he always had an incredible amount of faith in himself.

Finally, at the young age of 52 his biggest idea (McDonald’s) was about to emerge. However, Kroc had to muster enough courage in his new idea to once again mortgage his home and borrow lots of money to get it going. He wasn’t a picture of health either. He’d been plagued by years of arthritis, diabetes, lost his bladder and most of his thyroid gland. But, he never lost the courage to persevere and believe in himself. In fact, Ray Kroc was known to say:”The best is ahead of me,” according to those who knew him. The “McDonald’s” brand name is ill^, second most recognizable name in the world, next to “Coca Cola.” Not bad for 52 year old with health problems, huge debts, and tons of dogged determination! Ray Kroc was a simple man with a simple plan to achieve huge success.

Ray’s formula is:

1 Never give up. 2 Always persevere. 3 Don’t forget (No.1) .

Impressed by a small chain of hamburger restaurants based in San Bernardino, California that used the multi-mixers, Ray acquired franchising rights from the owners, the McDonald brothers. He then founded McDonald’s Corporation in 1955. In 1961, he bought out the McDonald brothers for $2.7 million and borrowed at interest rates that eventually made the cost $14 million. It turned out to be a bargain, as McDonald’s grew into the world’s largest quick-service restaurant organization.

In 1963, Kroc’s firm had sold 3 billion burgers, opened its 500th store, and, in a somewhat cynical attempt to target children, chosen Ronald McDonald as the icon of the firm. By 1965, the clown was more familiar to US children than the President.

Opening its 1000th restaurant in 1968, in 1971 Kroc moved the firm into Europe. Creating an enterprise of thousands of almost identical franchises throughout the globe, Kroc was respected in the business community for his high standards and effective leadership.

Under Ray Kroc’s leadership, McDonald’s set standards against which other chains were measured. He created an enterprise comprised of thousands of small businesses, run by independent franchisees that own and operate approximately 85 percent of McDonald’s restaurants. “If you work just for money, you’ll never make it,” Mr. Kroc often said, “but if you love what you’re doing and you always put the customer first, success will be yours.”

Ray Kroc served as chairman of McDonald’s Corporation from its founding in 1955 until 1977, when he was named senior chairman of McDonald’s Corporation in 1977.”We take the hamburger business more seriously than anyone else,” tidy Kroc, said, explaining McDonald’s success. His dedication to strict standards hi’, diligence in providing customers with consistent quality, service, cleanliness and value – and his innovative use of cooking techniques prompted a Harvard Business School professor to describe him as “the service sector’s equivalent Henry Ford.”

Kroc has been the recipient of many prestigious awards, including the Horatio Alger Award (1972),The Presidential Star (1972) and American of the Year (1973) presented by Lions International. He was inducted into the Advertising Hall Fame in 1988. Ray Kroc died on January 14, 1984, in San Diego, California.

Whatever it is you’re trying to achieve in your precious and valuable life, we are convinced Ray Kroc’s traits must be present. Especially, belief! If you don’t believe, you won’t achieve.

Reviewing all the elements of the Madoff scandal would require lengthy discussion and may be rather sophisticated for some. However, it makes sense for us to at least know what Ponzi schemes are all about.

“Ponzi” scheme can be summed up as a scheme designed to convince investors to put their money in a fraudulent investment that the schemer eventually runs off with. People often get duped into investing because they are promised a rate of return that is above those they would normally expect with a legitimate investment, and trust the person behind the scheme without much thought. Plenty can be said about Ponzi schemes that have prevailed in the US over the years, but looking at the Malaysian context, we too need to keep a watchful eye on potential “Ponzi” schemes lurking among us.

If any of the following explanations or promises sound familiar to you, then, it is very likely that you have had a brush with scams:

For every investment that you make, you will receive a high return, for instance, 20-30% per month, every month.

1. You are not shown the so-called quality product you are allegedly selling, but you will get paid for every person you recruit or sign up.

1. You are told that the offer is for a limited time and that you MUST invest today.

1. You are told to send some money to foreign banks in foreign currency to claim a prize but you do not remember entering any contest or lucky draws.

1. You receive unsolicited phone calls offering investment opportunities and you have no idea how the company has obtained your phone number.

1. You are offered an investment product that guarantees large profits with no risk.

1. You are asked to invest in an investment scheme but the address and contact information of the investment company offering you big money is located in a foreign bank where you cannot verify its physical location and cannot find information about the company’s license.

1. You are approached by someone who claims to be an agent for foreign trading houses (e.g: based in Macau, Bahamas,  British Virgin islands etc) to trade in foreign indices (e.g. Hang Selig index), commodities (e.g. coffee) or forex (e.g. USS, Yen etc) but you need to deposit some money as a “margin” in some sign currency before a trade can be executed.

If you are face with any of the above situation, keep the following points in mind so as to avoid being swindled :

Protection #1:

Avoid any investment guarantees regular or large profits. Be extremely wary of companies that guarantee large profits or promise high return over a short period of time. You must remember that every investment involves risks and you must have often heard:  “high risk, high return!” Be extra careful, especially if the investment is posed to give you high returns with minimal or no risk.

Protection #2:

Be wary of plans that focus on paying you to recruit others-stead of paying you to sell products and services. Key words that should caution you are “down-line” or “pyramid”.

Protection #3:

Never sign up for an opportunity in a high-pressured situation, as “you have a limited time to join and buy now or miss out”. Remember, if it is a legitimate business, it will still be around tomorrow, next week, next month or next year.

Protection #4:

It is unlikely for you to win a prize or big money if you have not entered into any contest or lottery. It is also highly unlikely for legitimate contests to ask you for money in advance to claim your prize. If you receive a call that says you have won a prize and you need to send some money to a foreign country in order to claim it, just hang up. It is not worth your time and effort to entertain such calls.

Protection #5:

Be skeptical about unsolicited phone calls regarding investments from foreign salespersons or companies in which you are unfamiliar with. The caller may say that he/she is a stock broking company’s representative or an investment adviser from abroad. If this happens, ask for his/her company’s details.

Request for the name of the foreign regulator that governs his/her company; check the foreign regulator’s website for the list of licensed or registered persons. Must always check the credentials of the persons you are dealing with, with the relevant authority before parting with your money.

Protection #6:

Be sure you get the company’s performance track record. Also ask for written information on the investment product and the business, as well as the risks involved the investment. Read the company’s prospectus and annual report thoroughly before investing.

Protection #7:

Do not provide any financial or personal information before you establish that the company is legitimate. Do not be afraid to ask questions; the more you ask the better! Always demand an explanation for something you do not understand. If in doubt, do not invest. Make sure you obtain solid information about the investment, the company and the salespersons/agents.

Protection #8:

Always check against the regulator’s website, for example, the Securities Commission Malaysia (SC) website (www.sc.com.my) for information on investor’s alerts, or the list of licensed intermediary companies etc before investing.

Finally, equip yourself with financial and investment knowledge so that you are protected from investment scams. Always remember, “Not all that glitters is gold!”

What came as a surprise was the speed that the estate administration process kicked into motion. Here is the brief timeline: MJ passed away on 25 June and the first series of court hearings began four days later. On 1 July, MJ’s Will dated 7 July 2002 was filed with Los Angeles County Superior Court, which became a public document and almost instantly became of public interest. All these took place even before the memorial arrangements were finalized.

In summary, MJ, in his five-paged Will appointed three of his close aides to be his executors; his mother to be the first named guardian and failing which his close friend, singer Diana Ross, would be the substitute guardian. The Will also make mention of a living trust which he created prior to the Will which is known as Michael Jackson Family Trust (“MJFT”) whereby his mother, children and certain charities are the named beneficiaries. Pursuant to the Will, the executors will ultimately “shepherd” all the assets in the estate into. The MJFT, which details are of course, key private and confidential inheritance taxes are still in many countries and this often is the paramount reason why people consider creating trust(s) in addition to a Will.

For MJ’s case, his estate would be looking at Federal Inheritance Tax that could possibly be as high as 45% in addition to the probate fees (to be based on the gross value of the estate) which is value of the estate) which is also applicable in the state of California. Fortunately, neither of such taxes is applicable in Malaysia.

It seems that MJ was well advised in terms of his estate affairs. However many are skeptical of his actual net worth bearing in mind he has been entangled with numerous lawsuits in the past which was later settled out of court with massive sums being paid out as settlement. At the time of his death, it was reported that he has an existing USD300 million loan with Barclays Bank. No doubt, many observers belief that he may be heavily in debt but he certainly is not broke. It is estimated that his interests in Sony / ATV alone is worth approximately USD 1 billion on top of royalties which will be channeled into his estate or trust (which is yet to be determined) is also extremely significant.

The executors would now have to determine what are the assets belonging to the estate. There could be a possibility that the aforementioned valuable assets might have been settled into or assigned to the MJFT which means that there is a possibility that the estate’s assets are significantly less as compared to the existing debts in such circumstance. If the estate has insufficient assets to settle all the debts, the estate would be technically insolvent. In all likelihood when this happens, the creditors would embark on a hunting spree to claw back as many assets as possible. This would possibly include tracing the assets that was previously settled or assigned into the MJFT and if this materializes, the assets held by the MJFT may be vulnerable.

Translating the above into Malaysian context, the fundamental principles of estate planning are very much similar. Generally, a Will is where a testator bequeaths his/her assets to the selected beneficiaries, appoints guardian(s) for his/her minor children and appoints person(s) whom he/she trusts to be the executor(s) of the estate. The testator may also make provisions for testamentary trust(s) if certain assets are to be held on trust for a period of time, in accordance to the testator’s instructions. However, one need to be mindful that all debts and liabilities would have to be settled by the estate before any bequeaths can be fulfilled. In addition, a Will also becomes a public document the moment it is filed in the court for the application of probate. Therefore, if there are certain assets, which are to, given to selected individuals who details are to remain private, living trusts would be the available option to establish such arrangements.

Died    : November 22, 2001 in Dallas, Texas, USA

Occupation      : Founder of Mary Kay

Children          : Richard Rogers, Marilyn Rogers, and Ben Rogers

“You can do it, honey!” That’s what Mary Kay Ash heard “thousands of times” from her mother while growing up. Since Mary Kay was seven years-old, her father was an invalid, stricken with tuberculosis. Her mother was forced by circumstance to support the family, leaving the young girl with household responsibilities far beyond her years. Finally, Mary Kay grew up to be a woman who built the $1.2 billion cosmetics empire of her own name. She is fond of saying, “If you think you can, you can. And if you think you can’t, you are right.”

Mary Kay was born on May 12, 1918. As a young housewife and mother of three, she began selling books in order to make extra income for the household. Her husband worked, but yet there was not enough money for the family of five to live on. This woman was successful in her sales effort, and she was able to sell more than twenty-five thousand dollars worth of books within her first six months all the job.

In the year of 1938, this woman found herself divorced. She then changed her career to selling Stanley Home Products by conducting home parties. She sold for Stanley for the next twenty-five years even though it was a most unhappy and unfulfilling occupation. She enjoyed the selling part of her job as well as the meeting and dealing with customers, but she felt that she was underpaid and not promoted as far as the men who worked there. She also claimed that her ideas for changes in the company were ignored and joked at. Finally in 1963, wanting something better, she was able to retire from Stanley Home Products.

Undaunted by her negative experience in business, the same year, Mary Kay began to write a book for women who were part of the working world. This book, she decided, would help other women face the challenges and problems that she had already encountered in the ever-changing world of business. While working on the outline of her book, she made two lists. One list was made up of the positive things of the companies she had worked for, while the other list was made up of negatives. When she looked the lists over, she realized that she had the rough plans for the perfect company. This company would allow women to work hard and succeed in their goals.

At the age of 45, Mary Kay Ash and her remarried husband Mel put their savings to start a cosmetics company. With “the confidence my mother instilled in me,” Mary Kay wrote, “I developed a strategy and a philosophy for my dream company, and invested my life savings in it.” Salespeople had been recruited and hired. Boxes, bottles, and jars were printed with “Beauty By  Mary Kay.”The company’s original name was” Everything Was Set. “But then the dream nearly died. Exactly a month before the company was to open; her husband suffered a fatal heart attack and died. Believing work was the only way to get through the grief of her husband’s death, Mary Kay decided to go forward with Mary Kay Cosmetics – despite her trusted accountant telling her that it would be impossible and ultimately leave her penniless.

On September 13 through much labor, Mary Kay Cosmetics was born. With her life savings of only a few thousand dollars, and the help of one of her children, now-grown son named Richard Rogers, Mary Kay started the long process of making her dreams become a reality for her and the millions of women across American. Through the hard work, dedication, and the values of one woman, Mary Kay Ash’s company boasts an impressive list of having more than a half of a million independent beauty consultants hosting parties, giving demonstrations, and selling the company’s cosmetics and perfumes. In 1996, the company’s retail sales level hit the two billion dollar mark, and today, Mary Kay Ash’s dream company flourishes and continues to enjoy success.

For Mary Kay, her namesake company wasn’t a job or an ego trip. It was her way of passing the message of self-confidence her mother had instilled in her to a world of women who desperately need it. No wonder, more than 850,000 women in 37 countries, who sell Mary Kay Cosmetics, are becoming richer every day. She would refer to Mary Kay beauty consultants as her ‘daughters’ Forbes magazine recognized her pink magic, naming Mary Kay Cosmetics as one of the “100 Best Companies to work for in America.”

In 1963, she once said, “here is a company that would give women all the opportunities I never had. I don’t think God wanted a world in which a woman would have to work fourteen hours a day to support her family, as my mother had done. I believe He used this company as a vehicle to give women a chance. And I feel very humble and very fortunate to have had a part in showing other women the way.”

Mary Kay Ash died in 2001, but lives on as an inspiration to all. On attitude, she said, “Don’t limit yourself. Many people limit themselves to what they think they can do. You can go as far as your mind lets you. What you believe, remember, you can achieve. Every failure, obstacle or hardship is an opportunity in disguise. Success in many cases is failure turned inside out. The greatest drawback we face today is negativity. Eliminate the negative attitude and believe you can do anything, Replace ‘if I can, I hope, maybe’ with ‘I can, I will, I must.”

Mary Kay Ash was included in the 1999 book Forbes Greatest Business Stories of All Time and was the only woman business leader profiled.

Always remember what Mary Kay Ash said, “We must have a theme, a goal, a purpose in our lives. If you don’t know you are aiming, you don’t have a goal. My goal is to live my life in such a way that when I die, someone can say, she cared Aerodynamically, the bumble bee should not be able to fly, but the bumble bee does not know it so it goes on flying anyway.”

Notwithstanding his modest means, Gwen is a compulsive shopper and spendthrift. Alex has many times tried to advise his daughter-in-law to curb her spending habits but it only ended up in arguments between them. Many times she has told him to mind his own business. This went on until the relationship between them deteriorated so much that both avoided each other in the house.

Alex had savings of his own and he is the sole owner of the house he stayed in and as such, he did not need any monthly allowance from Donvin. As time passed, Alex’s health deteriorated and he began to think of how to pass his assets to Donvin. He wanted a hassle-free transfer of the house to Donvin. He figured that although his relationship with Gwen was not good, she would still take care of him out of her duty as a daughter-in-law and Donvin would be around to ensure that. After considering for some time, Alex decided to transfer the house to Donvin’s name believing that he would be taken care of. He also wanted to take advantage of the 50% reduction of the stamp duty to transfer the property to Donvin.

Unfortunately for him, shortly after the transfer, Donvin passed away in an accident. Though Donvin did not have much, he wrote a Will anyway to give away his assets. In his Will, he gave all his assets to his wife, Gwen. Alex’s name was not mentioned in his Will since the son had felt that he could take care of his father and that he had his savings. The first thing, Gwen did when she obtained the Grant of Probate was to chase Alex out of the house. Since Alex was no longer the owner of the house, he had no choice but to leave. Luckily for Alex, he still had his own savings. He managed to check into a nursing home. Though he had a place to stay in, he was filled with regret over what had occurred.

The above scenario highlights the common mistakes many make by assuming that the older always dies before the younger and transferring of assets is the only way to solve their inheritance problems. What has been described here is similar to many cases previously reported in the papers.

Had he been properly advised, Alex could have written a Will or set up a Declaration of Trust.

For Alex to get his Will done, all he needs to think about is:

A)    Who will he appoint to be his executor to carry out his instructions stated in his Will? He can appoint an individual or a trust company as his executor. Since Donvin would probably be his sole beneficiary, he can appoint him to the executor, failing which a trust company to be the substitute executor. It is important to have a substitute executor in the event Donvin cannot act for whatsoever reason.

B)    What assets will be inherited by Donvin and whether Alex would like to impose any conditions before Donvin inherits?

C)    Who will the beneficiary in the event Donvin predeceases Alex and whether any conditions to be imposed before the substitute beneficiary inherits?

Alternatively, if Alex would like certain assets (not his whole estate) to be received by Alex without having to wait for Probate, a Declaration of Trust can be created. This is where he declares himself as the main trustee of the assets and a trustee company. In this arrangement, he would have control and enjoyment of the assets during his lifetime and upon his demise, the trustee company would then step in and the trust assets to his son Donvin or any other beneficiaries as directed by Alex. The documents needed for setting up a declaration of trust are a trust agreement and an irrevocable power of attorney between him and the trustee company.

The inclusion of a power of attorney would allow the substitute trustee to take over the role as trustee form Alex, without having to wait for Probate.

Alex is able to enjoy the trust assets as he will the substantial beneficiaries and Donvin would be a minority beneficiary. Only upon Alex’s death, would Donvin be the absolute beneficiary. At the same time, as the ownership and control of the trust assets still belongs to Alex, no assets are being transferred away from Alex.

For total peace of mind and ensuring the instructions of the declaration of trust are carried out, rather than relying on an individual to be the substitute trustee, it is better to appoint a trustee company for the simple reason that an individual will die, fall ill or meet with an accident and be incapacitated or become bankrupt. When the individual substitute trustee passes away, his assets including the assets he holds on trust will be frozen until the necessary estate administration processes are completed. There will be a long delay before the trust is able to continue to benefit Donvin and this defeats the purpose of creating the declaration of trust.

What would be the difference if Alex writes a Will and declaration of trust? The Will is subject to Probate and payment of debts and liabilities. There are also hosts of procedures that a prudent executor would need to go through before distribution to Donvin. Donvin would have to wait until the all procedures are completed and this would typically take between 12 months to 18 months.

However, with the declaration of trust, the assets are part of the trust which effectively would mean that these assets no longer form part of the estate of Alex. As a result, Alex’s Will will exclude these assets and the distribution to Donovan need- to go through the complicated and long procedures when one applies for Probate.

I would recommend that if Alex feels he would like certain assets to be received by Donvin without having to go through Probate, then he should create a declaration of trust. The assets he should include as part of the declaration of trust should be moneys in his bank accounts, unit trust and mutual fund investments, shares of listed companies, whereas properties should be handled by his Will. By leaving the properties in his estate to be handled by his Will, the stamp duty involved for the transmission of the properties to Donovan. If these properties are included in the declaration o trust, the stamp duty that Donovan would have to pay will be very high based on the market value of the property i.e. for the first USD100,000, 1% shall be payable; for the next USD 100,000, 2% shall be payable and if it is above USD500,000, 3% shall be payable.

Therefore, if Cheong has a property valued today at USD500,000, the stamp duty payable would be USD9,000 (as USD1,000 is payable for the first USD 100,000 and USD4,000 is payable for the next USD 100,000 to USD500,000).

In addition, with a declaration of trust, Alex will be protected in the event he suffers from a serious illness or disability where he can no longer be mobile, the substitute trustee can use the assets in the trust for his maintenance and to pay for his medical expenses.

Both Will and declaration of trust would give Alex the flexibility to amend the terms during his lifetime and this will accommodate changing circumstances within the family unit.

Root beer is a beverage made from a combination of vanilla, cherry tree bark, licorice root, sarsaparilla root, sassafras root bark, nutmeg, anise, and molasses among other things. Each root beer has a unique recipe. Root beer constitutes about three percent of the American soft drink market. Many local brands of root beer exist and home-made root beer is made from concentrate or (rarely) from roots.

In fact, even prior to this period, root beer was served, and it was then called ‘Black Cow Mountain’ inspired by a moonlit view of Colorado’s Cow Mountain with snow on top. Kids later shortened the drink’s name to Black Cow. For those not on a diet, recipes add chocolate syrup, whipped cream and a cherry on top. But for those on a diet, ice cream can be partially replaced by skim milk and root beer with diet root beer. Root beer itself has a history that relates to the ancient practice of brewing native plants (twigs, bark, roots) as healing herbal teas.

However, that fateful drink put a delighted smile on Allen’s customers’ face and put him into business. But Allen’s drink or mix was unique – blended from the juices of 14 herbs, spices, barks and berries – and it proved very popular with the thirsty public and in 1922, Allen started a number of outlets to sell it. With the success of his first root beer stand in place called Lodi, Allen soon opened up a second stand in nearby Sacramento. It was there that what is thought to be United States‘ first ‘drive-in’ featuring ‘tray-boys’ for curb side service opened up.

Later, Allen teamed up with Frank Wright, one of his employees, and the name A & W was born. New items were added to the menu and A&W became well. Known as a fast food restaurant offering good food at low prices, and served up fast. Before long, the chain restaurant had spread out beyond the boundaries of California and soon, there wasn’t a state in America where you couldn’t find an A&W restaurant. It had become part of the American way of life.

In 1924, Allen bought Wright’s share of the business to actively pursue a franchise sales program. He had the name, A&W Root Beer and the A&W logo legally trademarked with the U.S. Patent. By 1933, the creamy beverage was such a success that Allen had over 170 franchised outlets operating in different places. To ensure uniform quality for the namesake beverage, Allen sold A&W Root Beer to concentrate exclusively to each franchise operator. His profits were derived from the sale of the concentrate and a nominal license fee.

During World War II no new restaurants were opened. Despite governmental sugar rationing (this affected supplies of bottler’s sugar, a necessary ingredient of root beer) and employee shortages (also a result of the war) most A&W units remained successful. After the war the number of A&W restaurants tripled as loans were available for private enterprise to flourish.

In 1950, with over 450 A&W’s operating nationwide, founder Roy Allen retired and sold the business to an aggressive Nebraskan named Gene Hurtz who formed the A&W Root Beer Company. The post war era – the rapidly recovering economy and popularity of the automobile provided the right environment for Hurtz’s company to prosper. Drive-in was becoming increasingly popular and A&W had the privilege of being one of the few nationally established drive-in restaurant chains. By 1960 the number of A&W’s had swelled to over 2000.

The popularity of A&W soon spread to other parts of the world and Asians had their first taste of it in 1963 when Malaysia opened its first outlet at Batu Road (now known as Jalan Tuanku Abdul Rahman) where it still does brisk business today. In Malaysia, there are more than 26 A&W restaurants and the company has plans to open more. The opening of new stories not only brings the great taste to more Malaysians but also provides employment as well as management opportunities to people. In fact, A&W has become a household name among Malaysians and its menu offers a wide variety of items to suit every member of the family, including the refreshing A&W Root Beer, the ever popular Coney Dog, Waffle, Curly Fries, Onion Ring and Mozza Burger which are unique products of A&W.

It was the first food chain to be opened in Malaysia. It has also gained a mention in the Malaysian Book of Record to that effect. A&W (Malaysia) Sdn Bhd was awarded the “Golden Mug Award” in recognition of its achievement for being the best managed franchisee in the world in 1996.The award was presented by A&W International President/CEO in Las Vegas, USA.

America loved the taste of A&W Root Beer. So, in 1971, United Brands formed a wholly-owned subsidiary, A&W Beverages, Inc., for the purpose of making A&W Root Beer available on the grocery shelf. First introduced in Arizona and California, the cans and bottles of A&W Root Beer was an instant success. Retailers nationwide were soon carrying the product.

Several ownership changes took place during the sixties and seventies. In 1971, United Brands formed a wholly owned subsidiary, A&W Distributing Co., for the purpose of making A&W Root Beer available on the grocery shelf. In 1974, A&W sugar-free was born along with “The Great Root Bear,” a mascot that served as a goodwill ambassador for the brand. Though the purchases and mergers plagued the expansion efforts of A&W restaurants, the root beer remained the category leader.

In October 1993, the A&W brands, excluding the restaurants, became part of Cadbury Beverages Inc. Today, the A&W brands continue under the ownership of Plano, Texas-based Dr Pepper/Seven Up, Inc., the largest non-cola soft drink enterprise in North America and the largest subsidiary of London-based Cadbury Schweppes plc.

Much has changed since Roy Allen first sold root beer from his roadside stand on that hot summer day in 1919. Yet, the one thing that hasn’t changed in 85 years is that people over the world love the rich, smooth, thick-headed taste of A&W Root Beer. Clearly, A&W Root Beer has stood the test of time. And, all the credit for that goes to the genius of Roy Allen.

Died    : April 5, 1992 (aged 74)in Little Rock, Arkansas, U.S.

Occupation      : Former Chairman, Wal-Mart

Net worth        : US$58.6 bn (1992 Forbes 400), $128.0 billion (2008), according to Wealthy historical figures 2008.

When a person from Berryville, Arkansas, began opening discount stores outside towns where Sam Walton ran variety stories, he saw what was coming. So, on July 2,1962, at age 44, he opened his first Wal-Mart store, in Rogers, Arkansas. Discounting had hit America in a big way.

Once committed to discounting, Walton began a fight that lasted for the rest of his life. That is to drive costs out of the merchandising system wherever they lay – in the stores, in the manufacturer’s profit margins and with the middleman – all with a view to reducing the prices down, down, and down. Using that formula, which reduced the prices drastically, Wal-Mart sales grew at a relentless pace. Walton hit the road to open stores wherever he saw opportunity. In fact, he would see the layout of the places in his low-flying airplane. When he found the right place in intersections he would touch down, buy a piece of farmland and order up another Wal-Mart store.

As the chain began to take off, Walton made major adjustments to manage the growth. Meanwhile, as early as 1966, when he had 20 stores, he attended the IBM Computer School in order to hire the smartest guy in the class who would computerize his operations. He understood the need for computerizing his merchandise control. Today, Wal-Mart’s computer database is second only to the Pentagon’s in capacity, and though he is rarely remembered that way, Walton may have been the first true information-age CEO.

To his great delight, Walton spent much of his career largely unnoticed by the public or the press. In fact, hardly anyone had ever heard of him when, in 1985, Forbes magazine determined that his 39 per cent ownership of Rd Mart’s stock made him the richest man in America. After that, the first wave 01 attention focused on Walton as a famous retailer. His extraordinary charisma had motivated hundreds of thousands of employees to believe in what Wal-Mart could accomplish, and many of them had traded the company’s stock to wealth. It was truly the American Dream.

Sam Walton was born on March 29,1918 to Thomas Gibson and Nancy Lee Walton near Kingfisher, Oklahoma. In Oklahoma, they owned and lived on a farm until 1923.The Walton family then decided that the farm was not profitable enough to raise a family on. So, Sam and James (Sam’s younger brother born in 1921) had decided they would go back to being a Farm Loan Appraisers. Once this job started the Walton family moved out of Oklahoma and moved from town to town in Missouri. This would traumatize most children but for the Walton boys, it was no big deal. This could be seen when Sam was in 8th grade at Shelbina he became the youngest boy in the state’s history to become an Eagle Scout and this was only a stepping stone to his journey of accomplishments.

As Sam Walton grew up he was always an ambitious boy. He had to help support his family, along with his father and brother because money was lacking due to the depression. Sam’s job was to milk the family cow, bottle the milk, and then deliver the surplus to customers. He would go off to deliver newspapers afterwards. When he graduated from high school he was voted the “Most Versatile Boy” in his class. During this time it would have been easy for Sam to just give up on school and go to work full time. Seeing how his family was struggling to make ends meet, he decided he was going to stay in school and attend the University of Missouri.

As Sam grew up and anyone could see how determined he was to succeed and as time passed he went from being a poor town boy to the richest man in the world. Sam Walton had instituted 10 rules for success, and the 10th rule explains how he achieved all this. It says, “Swim upstream. Go the other way. Ignore the conventional wisdom. If everybody is doing it one way, there is a good chance you can find your niche by going exactly the opposite direction.”

Watson did force a lot of people to change the way they made a living. His use of informational technology to cut costs quickly traveled to all kinds of companies; and his pioneering retailing concepts paved the way for a new breed of  “category killer” retailers like Barnes & Nobles.(Category killer is a term used in marketing to describe a product that has a distinct competitive advantage that competing firms find it almost impossible to operate profitably in that industry.) This wave of low- overhead selling continues to accelerate. The Internet, in fact, is its latest addition. One can only wonder what a young cyber Sam would set out to accomplish if he were just getting started now.

The company went public (1970), and thanks to a unique decentralized and Sam’s charismatic leadership and celebrated hands-on management style, it grew faster in the 1980s. In 1991 Wal-Mart became the nation’s largest retailer with 1700 stores, and he was reported by distribution system Forbes to be the richest man in the country. He was president and chief executive officer until 1988 and chairman until his death. The family business empire included Arkansas and Oklahoma banks and newspapers. He was awarded the Medal of Freedom shortly before his death in 1992. In 1999 Wal-Mart took over the ASDA group (the second largest super market chain) in the UK.

A clear violation below its neckline support at RM0.60 may see a downside breakout with a potential target to RM0.37 as measured from the distance between the recent high of RM0.825 to the neckline support. However it must overcome its strong support at RM0.47 which corresponds to a classical support and the 61.8% Fibonacci retracement from its Oct 2008 low to its recent June 2009 high. Immediate resistance now is at RM0.66 which also coincides to its 50-day moving average followed by a stronger resistance at RM0.715.

A successful scholarship at the California Institute of Technology was followed by a Masters from Stanford University and a stint at Apple Computer. It was while he was there that Sabeer Bhatia found something that would sooner than later transform his life and revolutionize the world of internet: The Hotmail had arrived!

Frustrated by a corporate e-mail system which did not allow them to communicate privately, Bhatia and his college friend and colleague Jack Smith hit upon the idea of a simple, free and secure way of talking on the net. They called it Hotmail.

Before Hotmail was launched, Bhatia worked for Apple Computer, and then a start­up company, FirePower Systems. Jack Smith, his founding partner at Hotmail, was his colleague and buddy at the two firms.

The idea for a free email company did not come out of the blue, Bhatia explained. For over a year Smith and Bhatia toyed with the idea of a Web based database server and tried to interest venture capitalists in their first venture, JavaSoft. However, realizing that the response was lukewarm, Bhatia and Smith were looking for another idea when they hit upon a Web based email server rather than a database server.

Sabeer was only 27 when he decided he was not going to work for others. He said he was making ‘money‘ when he worked for others, but he wanted to make much more than that by working for himself. He was also aware of the advice someone gave him that the biggest risk in life was not to take a risk at all.

He feared that had he continued working for others, he might not have had the guts to start something of his own. So, with Jack Smith, he decided to chase what many people in the Silicon Valley thought was a crazy idea, a free email service.

Together, the two men raised about $300,000 for their venture. While soon other free email services jumped in, Hotmail remained at the top because it was markedly different from competitors. One didn’t need to download software and install it in the computer to access the email.

It was so revolutionary that in less than two years of founding it, Bill Gates, who’s Microsoft, had its own email service, and wanted to buy Hotmail. The prudent Sabers, who had as a school boy sold sandwiches to make pocket money, took his time on the initial $160 million offer and then closed the deal at a cool $400 million.

Selling his company to Microsoft was yet another gamble for Bhatia. And, getting out of Microsoft and planning yet another venture is another daring step. While it took America Online over six years to build up its customer base, Hotmail grabbed over 11 million subscribers in just two years. “Our strength was we solved the problem that other companies created,” he had said in an earlier interview.”We did not restrict people to access their email from just the computer on which the software was installed.”

“And because we were not restrictive, there was global access for Hotmail account holders. They could do it as easily in India as here in California or any other country in the world.” Even in the digital age, someone had commented, the American Dream lives on.

Sabeer Bhatia’s innovation brought an unshakable belief in the transforming power of technology in his home country, India. No wonder, then, that 30 per cent of the software engineers in US corporations hail from India. The Times of India daily recently named him as one of the Indians of the Century, a honor which, he shares with the likes of Mahatma Gandhi, Mohammad All Jinnah and Sunil Gavaskar, the famous cricketer of yesteryears.

He was raised a Hindu and in a way he was one, but he does not believe blindly in destiny. He tries to make his own destiny.”In the long run, it boils down to a simple fact,” he says, “How much of faith does one have in oneself.”

With his Ferraris and an apartment overlooking San Francisco’s Golden Gate Bridge, Sabeer Bhatia had it all. Work hard; play hard seemed to be his motto. 18-hour days in the office were complemented by a frantic social life: he told one newspaper,” from 6 p.m. Friday until Sunday, I’ll be partying in New York.”

“I don’t want to be branded Mr. Hotmail for the rest of my life”, he said recently and there is no doubt that his dynamic blend of East and West will make itself known again sooner or later.

He was chosen for the ‘Entrepreneur of the year’ award (1977) by the venture capital firm Draper Fisher Jurvetson, and named to the “Elite 100″, the Upside magazine’s list of top trendsetters in the New Economy. He was also the recipient ofthe”TR100″award, presented by MIT to 100 young innovators who are expected to have the greatest impact on technology in the next few years, and selected by the San Jose Mercury News and POV magazine as one of the ten most successful entrepreneurs of 1998.

Thus a correction may be expected at any point of time for IOI Corp. If there is a break below the recent low of RM4.42, there are chances to see a slide towards its next technical support of RM4.00. Resistance is at its recent high of RM4.86 and a break above it may see IOI Corp resuming its uptrend towards its next target at RM5.15.

Died    : August 5, 1991 (aged 84) in Japan

Occupation      :  Founder, Honda Motor Company Limited

Throughout his life, Soichiro Honda never forgot the day when he ran hopelessly after the first motor car he ever saw. Long before the car actually reached Yamahigashi, a small village in Japan’s Shizuoka province (now called Tenryu-shi), its own extraordinary noise announced its imminent arrival.The small boy who heard the rumble was at first astonished, then excited, and finally enthralled, by it.

Later he would describe that moment as one of those life-changing experiences. He began to tremble as the car came closer to him. Then, he turned and chased after that car as much as he could. “I could not understand how it could move under its own power. And when it had driven past me, without even thinking why I found myself chasing it down the road, as hard as I could run.”

He had no chance of catching it, and the experience became a symbol for his life: always he was chasing something that was just beyond his reach. He had always remembered a proverb that literally goes/raise the sail with your stronger hand,’ meaning you must go after the opportunities that arise in life that you are best equipped to do.” By the time the road was empty and the car long departed, the young boy continued to stand there breathing in its gasoline stench. When he came upon a drop of its precious lifeblood spilled on the dusty track, he dropped his knees and sniffed the oily stain like a man in a desert smelling water. This was a scene that later changed the course of world’s motor industry.

Honda’s spirit of adventure and determination to explore the development of new technology had its roots in his childhood. The family was not wealthy, but his father Gihei Honda instilled into his children the ethic of hard work, and a love of mechanical things. Soichiro soon learned how to whet the blades of farm machinery, and how to make his own toys. A nearby rice mill was powered by his small engine, and the noise fascinated him. He would demand daily that his grandfather took him to watch it in action. At school he got the nickname ‘black nose weasel, which is less derogatory in Japanese than it sounds in English, because his face was always dirty from helping his father in the workshop. Once he even forged his family’s seal using a bicycle pedal rubber on school report that were not up to the mark!

In 1917 a pilot called Art Smith flew into the Wachiyama military air field hr demonstrate his biplane’s aerobatic capabilities. Honda took the family’s poly cash box, borrowed one of his father’s bicycles and rode the 20 kilometer to a place he had never before visited. When he got there he soon realized the price of admission, let alone a flight, was far beyond his means, but after climbing a tree he watched the plane in motion, and that was enough. When Gihei learned what his son had done to get to the airfield, he was not angry with his son for taking the money and the bike. Rather he was more impressed will, initiative, determination and resilience.

Honda enjoyed racing, and set a speed record in 1936. At age 17, he won II, Chairman’s trophy riding alongside his boss under whom he worked as a mechanic. He suffered in a bad crash, breaking several bones including both wrists, and was persuaded by his wife to give up racing. Honda thereafter concentrated on his business, and in 1937 he moved into piston-ring manufacture, setting up Tokai Seiki Heavy Industry (TSHI). In 1948 Honda had sold TSHI to Toyota for 450,000 yen (worth about $1 million)

In 1948 Honda began producing motorcycles as president of the Hondo Corporation. Honda Motor Co. Ltd. initially built small capacity motorcycles to gel Japanese workers moving. While Honda focused his considerable energies on the engineering side, using all the experience he had painstakingly accumulated and left the running of the company in the hands of Takeo Fujisawa, his most trusted friend and urged him to look to the long-term.

They complemented one another perfectly. When the first fruits of their partnership hit the streets it was a 98 cc two-stroke motorcycle appropriately named “Dream”. Honda turned the company into a billion-dollar multinational that produced the best-selling motorcycle and resulted in Honda motorcycles out-selling other brands in the respective home markets. In 1959 Honda Motorcycles opened its first dealership in the United States.

Soichiro Honda was the prototypical F1 engineer. He was always probing new limits of technology, always seeking better and greater feedback from the men who rode or drove the machines that bore his name. He reasoned that ambition was no sin, and that success was the reward for hard work and investment. Honda was the first major manufacturer to understand that motor sport was the perfect miscible in which to develop not just superior machines, but superior engineers, aid today every global player in the Fl game rotates its engineers through its motor sport programs.

He followed the Japanese saying that said, “if you hire those people you understand, the company will never get people better than you are. Always remember that you often find outstanding people among ‘hose you don’t particularly like.” He is also the author of the famous quote, “success represents one per cent of your work which results from the 99 percent that is called failure. Success can only be achieved through repeated failure and introspection.”

He died in 1991 from liver failure. At the age of twenty, Mr. Honda was called up for military service but he was, medically examined and found to be color blind. Thanks to this diagnosis because he managed to avoid spending any time in the military. He was not just admired for his ability to repair machines, but gave free rein to his talent as an inventor, later earning the title “the Edison of Hamamatsu” and starting to do all kinds of work that went far beyond the narrow bounds of a repair workshop. Today, Honda Motor Company is one of the largest and most successful automobile manufacturers in the world. This evolution came about because of one man, Soichiro Honda. As he rightly put it “Action without philosophy is a lethal weapon; Philosophy without action is worthless”: Needless to say, he had both in the right measure and in perfect balance.

With annual revenues of more than $10 billion, the company is ranked 195 on ill^, Fortune 500 and was added to the Global 500 at number 441.

In fact, the visionary entrepreneur was not able to attend college. In 2000, Ii’ presented the University of St.Thomas with a gift of $50 million – the largest gift to the school’s 115 – year history and largest donation ever reported by a Minnesota College or University. Schulze has a special liking for this university; because this is the university he wanted to go but could not!

Schulze, grew up in the St. Thomas neighborhood and attended Nativity of Our Lord School, about a mile from the campus. He had intended to enroll at St. Thomas after schooling, but service in the Minnesota Air National Guard and work for his father’s electronics distribution company derailed his plans. Schulze, an entrepreneur, used all his assets to follow his dream and opened a small audio – components store, Sound of Music, in 1966. It expanded and evolved into what we know as Best Buy that today employs more than 60,000 nationwide through 354 stores in 37 states. Meanwhile, St. Thomas University awarded him an honorary doctor of laws degree in December 1998. It is Minnesota’s largest private university, and enrolls some 10,000 students.

The company is spending an estimated $80 million a year on what it is calling “customer centricity,” a massive effort to identify and serve its most profitable shoppers by rebuilding stores, adding staff and upgrading wares. Best Buy has little choice. It also has some experience in navigating through the most treacherous storms.

lo 1966, Schulze opened the Sound of Music, an audio specialty store in St Paul, Minnesota. The company grew over the following years, expanding to nine locations by 1980. In 1981, Schulze’s most successful store was destroyed by a tornado. The tornado ripped through its largest store, in St. Paul, resulting in a $200,000 loss for the year and a near – brush with bankruptcy. “We’d forgotten to buy business – interruption insurance,” says Schulze. The water – damaged goods were sold at a “best buy” sale. Not only ‘BEST BUY’ became the company’s permanent name, similar ‘Tornado Sales’ became an annual Sound of Music event. Best Buy’s first superstore opened in 1984, a carbon copy of Circuit City Stores, which was then nearly 40 times its size. A year later Best Buy went public and began a climb that sent it past its chief rival in 1995; it has enjoyed the lead ever since.

Then came the next calamity – a 1989 price war with Highland Superstores, which hurt Best Buy’s bottom line and shoved Highland into bankruptcy. Emerging from this victorious, Best Buy remodeled its stories: open ceilings, concrete floors, fluorescent tube lighting. Staff on commission gave way to hourly employees who did their best to make themselves invisible to shoppers simply wanting cheap electronics. Best Buy grew rapidly from sales of $240 million in 1987 to $7.2 billion in 1996.Who knew the digital revolution could be such a rush? Best Buy did – and it’s selling more pricey gadgets and hook up services than anybody.

It operates retail stores and commercial Web sites under the various brand names, such as Best Buy, Future Shop, Magnolia Audio Video, and Geek Squad, as well as an outlet store on e-Bay. As of July 15, 2004, the company had 619 United States Best Buy stores, 22 Magnolia Audio Video stores in the United States, 109 Future Shop stores and 19 Canadian Best Buy stores internationally. The company is based in Richfield, Minnesota.

Alma Mater     : London School of Economics

Occupation      : Entrepreneur

Net Worth       : GBP £1.29 billion

Stelios is the man who introduced low-cost flying in Britain, and today he is a big guy with a personal fortune of $650 million. But he drives to his favorite casino in Monte Carlo in a tiny, orange (his favorite color) Smart car. He does not gamble, at least not in the casino.

Stelios single-handedly built the easy Jet, the orange-liveried airline from scratch and took on the mighty British airways head on. It might have seemed a surprise move, but the seed for starting a budget airline had germinated much earlier. When Stelios was a student he went to a conference where billionaire Branson was speaking, told him his easy Jet idea and asked him to back him.

Branson was wary not only of budget airlines, but he did not like Stelios’ plan to build a base at Luton, a small town in England located 50km north of central London. Branson said no.

In 1995 Stelios launched easy Jet on his own, from Luton, using two rented 737s with the reservations number in orange on the side, crew in orange sweatshirts, and £29 one-way fares to Glasgow. He advertised as ‘fly to Scotland for the price of a pair of jeans. Cynics thought it vulgar and said no one would fly from Luton. They were wrong. Vulgar orange, along with the brand name and prices that so undercut British Airways’ three-figure fares, proved alluring even to business travelers.

The young Stelios traveled in the mid-eighties to London to study at the London School of Economics. After obtaining a masters at the London Business School in 1988, he returned to Greece to join his father’s shipping empire and the opportunity for a life of opulence and hedonism. (“hedonism” subscribes to a theory that pleasure is the highest good, or whatever causes pleasure is right.)

But two events in the early nineties changed his life. In April 1991 when he is in aged 22, was the chief executive of his father’s business, their tanker, Haven, New up off Genoa, killing five crew members and disgorging up to 50,000 tons of (oil into the sea – arguably the Mediterranean’s worst-ever ecological disaster.

The Haven disaster shaped his attitude to safety, influencing him to buy brand new Boeings as soon as he could after setting up his airline. One of his favorite mottoes is still : “if you think safety is expensive, try an accident.”

Then, in 1992, with the events of the Haven disaster still making headlines in Italian media, Stelios began to wean himself from his father’s business. He set ill his own shipping company, Stelmar Tankers. However, there was a big reluctance from his father to let Stelios go his own way. They clashed over business style, Stelios saying things like “we need computers” and his father “sticking to a very traditional style.” It marked the beginning of his flight from the gilded cage, as he has described it. He was still maintaining good relationships with his father and consulted him on important issues. He finally persuaded his father to lend him 5 million and in 1995 came to London to start easy Jet. Today, easy Jet is flying to 44 European destinations, and carries eight million people annually.

He is known as a “serial entrepreneur”, who likes to create businesses, not manage them. He would like to build the business, but does not want to deal will, stockbrokers, market analysts and the administration of it all.

For instance, in 2003, he launched easyCinema in London. It is called the world’s first no-frills cinema. Seats are booked online or by phone. The earlier you book the less you pay. From their own computers, customers print a barcode which they scan at the turnstiles to get into the theatre. There are computers in the cinema itself so that customers can book online while they are there. So there is no need for box office. Another advantage is that the movie-goers can bring their own popcorn and other eatables that are much cheaper than the prices charged by regular cinemas, and movie tickets cost only 20 dollar each.

After turning various industries upside down by launching the likes of easy Jet, easy Car and easyCinema, the Stelios’s easyGroup has now set its sights on one of the missing links in its travel to Entertainment Empire, that is accommodation. With easy affordable prices, the scheme called, easy Dorm was launched in London last year, (New York and Paris could be next, according to USA Today).

EasyDorm will concentrate on providing accommodation only, and will not offer a restaurant or other services. Bedding and toiletries will be available for purchase for those customers who do not bring their own. Rooms will consist of pre-fabricated fiberglass units (nothing to break, no dirt accumulation), and come with a shower unit, a lavatory and floor mattresses inspired by Japanese style bedding. An extra charge applies for those who choose not to clean their own room. These budget hotels would cost only $5 a night.

Stelios visits Athens to see his aging mother and sick father frequently. After all, he has to prove to his proud father that he made $1.6 billion out of the $ 5m his father gave his son, albeit reluctantly, years ago.

Died    : December 31, 1993 (aged 79) in Greenwich, Connecticut, U.S.

Spouse(s)         :  Olive Cawley

Children          :  Thomas John Watson III, Jeanette Watson, Olive F. Watson, Lucinda Watson, Susan Watson, Helen Watson

Occupation      :  Business.

In 1943, 29-year-old Watson Jr. and his father were once walking around their headquarters when they found an engineer who had hooked an IBM tabulator up to an electronic gizmo the size of a footlocker. He was making payroll calculations in one-tenth the time it usually took. Thomas Watson Jr told his father, “We should put this thing on the market! Even if we only sell eight or 10, we will be able to advertise the fact that we have the world’s first commercial electronic calculator. But 10 years later he saw things differently, and IBM had launched the Model 650 Magnetic Drum Calculator. Today, with over 330,000 employees worldwide and revenues of $96 billion (figures from 2004), IBM is the largest information technology company in the world.

In 1954, the Model 650 used a magnetic drum 4 inches by 16 inches, and it could perform addition or subtraction functions in 1.6 milliseconds, multiplication in about 13 milliseconds, and division in about 17 milliseconds. IBM sometimes refers to the 650 as its first computer. Perhaps it is more accurate to call it IBM’s first commercial business computer (since the 701, also from IBM, was intended for scientific use) and the first computer to make a meaningful profit. The Model 650 became the leading commercial computer of the 1950s, leading IBM out of the desert of punch cards and into the promised land of electronic computing systems. But Watson Sr. would not live to see computers become the mainstay of his corporation; he was dying. In May 1956, at the age of 82, he retired, putting one son, Thomas Watson Jr., at the helm of IBM.

The man who built IBM into a computer giant was worried at the notion of filling his father’s shoes. But worry was a relentless motivator! Though Junior Watson joined the firm in 1937, he served in the US Air Force in the Second World War. Watson suffered bouts of depression and once burst into tears over the thought when his formidable father wanted him to join IBM and run the already famous company.”I cannot do it,” he wailed to his mother.

Thomas Watson Jr. spent his youth convinced that he had something inside. An always failing student,”Terrible Tommy;’ as he was called then, vented his frustration by playing pranks on other students and opposing the author.

In fact, he went through three schools to complete high school, and graduate, I from Brown University just because the dean was reported to be very sympathies towards him. The young playboy rated the pleasures of drinking and dancing) above those of learning.

He devoted more time to indulging his passions for flying airplanes by day and partying by night than to calling on clients of IBM. Even so, Watson filled his plan, sales quota for 1940 on the first day of that year, not because he was a talented salesman but the company faked the accounts to make him look good!

Yet 26 years later, Watson not only succeeded his father but also eventually surpassed him. IBM is now synonymous with computers, even though the company did not invent the device that would change our life, nor had it shipped a single computer before Thomas Jr. took over. How did this transformation take place? How come a man who once cried that he could not run the company, steered the same through the most successful history of computer sales in America?

World War II liberated Tom Watson Jr. from his bad habits. His success in promoting the use of flight simulators earned him a job as aide and pilot for Major General Follett Bradley, the Army Air Forces’ inspector general. Watson flew throughout Asia, Africa and the Pacific, displaying steel nerves and shrewd foresight and planning skills. He was set to fly for United Air Lines after the war when a chance conversation with Bradley changed hip course. Informed of Watson’s job plans, the general said,” Really? I always thought you’d go back and run the IBM Company. “A stunned Watson asked Bradley if he really thought he would do the job (running the IBM) well. The general replied, “Of course.” The business magnate in him was ignited by Bradley.

When he took over IBM from his father, he was convinced that the company should enter the computer market. When his father took charge of the company, it dominated the market for punch-card tabulators – forerunners of computers that performed such tasks as running payrolls and collating census data. Thomas Jr. quickly realized that its future lay in computers, not a 19th century information technology like tabulators. Even the first vacuum-tube machines could calculate 10 times as fast as IBM’s tabulators.

Watson Jr. who became president of IBM in 1952 never gave up. He recruited experts who could think ahead. Watson, who once shared his father’s volcanic temper, was now a changed person, because he feared of falling behind in the fast-changing industry. Funnily enough, he often told his employees, “the higher the monkey climbs, the more he shows his ass.”

With IBM clearly on top in the early ’60s, Watson took one of the biggest gambles in corporate history. He proposed spending more than $5 billion – about three times IBM’s revenues at the time – to develop a new line of computers that would make the company’s existing machines obsolete. The goal was to replace specialized units with a family of compatible computers that could fill every data- processing need. Customers could start with small computers and move up as their demands increased, taking their old software along with them. It was called the System/360, after the 360 degrees in a circle.

The strategy was on the verge of failure when software problems created delivery delays. Panic raced through IBM’s top echelons as rivals closed in. A desperate Watson ousted his younger brother Dick as head of engineering and manufacturing for the System/360 project. Ultimately, System/360, which revolutionized the industry, proved to be wildly successful. Its highly successful launch in 1964 was called by Fortune Magazine as ‘IBM’s $5billion Gamble.’ Following its success, IBM’s base of installed computers jumped from 11,000 in early 1964 to 35,000 in 1970, and its revenues more than doubled, to $7.5 billion. At the same time, IBM’s market value soared from about $14 billion to more than $36 billion.

A heart attack forced Watson to retire at age 57 in 1971, leaving him plenty of time for such adventures as flying across Siberia that he had made during the war. A lifelong Democrat (his father had been a Franklin Roosevelt confidant), Watson served for two years as Jimmy Carter’s ambassador to Moscow.

But perhaps his proudest achievement was to emerge from the shadow of a legendary, relentlessly demanding father. In his first five years as chairman, the younger Watson observed the anniversary of his father’s death in 1956 with a ritual. He quietly took stock of what IBM had accomplished since his father died, and then said to his wife, “That’s another year I’ve made it in his absence.“

As it continues to notch up 52-week highs, investors finally recognize this as a growth stock. We have revised our price target to 60 cent, continuing to recommend a BUY.

Seasonally, the Apr-08 quarter is the weakest quarter in a year. Yet, revenues grew 28.7%YoY and were also up 3.9% QoQ on seasonally low sales volume. The reason is that sales in the Feb-Apr 08 months last year were affected by inflation taking a severe toll on consumer spending; hence 4Q-08 sales formed a low base for comparison. Operating profits rose 76.1% YoY and 10.3% QoQ. Operating profit margins improved sharply to record levels at 19.7% compared to 14.4% in 4Q-08, a weak quarter. NTPM’s raising of product prices by 15% in Jul-09 to offset rising costs proved fortuitous as material costs subsequently fell. Net rose a strong 76.2% YoY and also 22.1% QoQ.

Operating profit margins improved from a year ago due to recycled newsprint prices continuing to fall from depressed levels in preceding quarters. But a continuing fall in subsequent FY10 quarters is not imputed in our forward forecasts.

Higher working capital requirements in inventory costs and receivables boosted net gearing, which rose from 0.15x in Apr-08 to 0.158x in Apr-09 but this has eased from 0.20X in Jan-0-9 and is manageable.

FYE Apr010, sales are forecast to continue to climb at 11.9%, driven by the full year effect of the price increase and a marginal 4% volume gain. NTPM’s dividend yield is sustainable at 5.5% after the 4-for-5 bonus issue.

Recommendation

We have raised our forecast for FY EApr010 earnings to RM51.7m, also representing

+11.9% growth. Valuation remains undemanding at 8.7X PER. The share’s defensive quality comes from its retention of an astonishing stranglehold on the facial tissue market in the country with 70% market share, and the low price stature of the product. The share price has risen 70.4% in the YTD period, but the promised yield is still at least 5.5%, at our recommended threshold yield for income stocks, giving an anticipated 12-month total return of 28%.BUY.

Price of commodities pulled back after rallying making new highs this year amid concerns about global demand which seems to hit a snag as inflation rises. The price of Crude oil closes below US$60 per barrel after staying above US$70 for a few weeks early June.

The price of Crude Palm Oil in the futures market fell 25% in a month from RM2,700.00  to RM2,000 per metric ton. Price of Gold fell as well from US$980 per ounce to USS910.

To add salt the wound in the market sentiment, the increasing H1N1 flu outbreak has become a great cause of concern if companies have to slow down production if employees are being infected. The market finally fell on-month after increasing for three consecutive months. The KLCI closed at 1,067.76 points on the 10th of July, 15.21 points or 1.4% lower than the previous month. The KLCI traded relatively more volatile in a trading range between 1,028.14  and  1,095.91 points last month.

Trading volume was relatively lower. Daily average trading volume fell from 2 billion shares to 1 billion shares on-month. This reflects the weak market sentiment.

As compared to other Asian markets, the Malaysian market is still one of the most defensive market, and notice that the western markets are the weakest performers even for the past 6 months.

The uptrend is still intact as the KLCI is still above the mid and long term 60-and 90-day moving average. The KLCI has tested the short term 30-day average twice and is now below this average market momentum is much weaker as compared to last month. The KLCI is only 7.7 percent above the long term 90 day moving, average (90-SMA) which is currently at 990 points. The difference in the previous month is 11%.

The momentum of the current up trend is getting weaker. The bears have started to take some grip in the market. Momentum indicators like the 14-day

RSI, 14-day Momentum and MACD have heels making new lows since last month. The indicator values are currently near the middle mark whirls separates the bulls and bears dominance. It has been favoring the bulls since end of March this year. The leading Ichimoku Cloud indicator has started to contract as well which means that the uptrend support is getting weaker, but does not sign a major bearish reversal yet at least for the next one month.

The Bollinger Bands which were expanding has also started to contract and this simply means that the KLCI is trading near its 20-day average. The mid­term swing of the Barros Swing indicator shows a lower swing high. The swings were higher since March. The weekly Average True Range (ATR) indicator has also declined almost half on-month. All these volatility indicators are suggesting a weaker momentum.

Conclusion

There were some weak technical indications last month that urges investors and trades to trade cautiously and in the past few weeks, the technical indicators have started to show stronger signs of the market getting more bearish.

Last month, I mentioned that the market may test the next resistance at 1,160 points but with heavy resistance and the KLCI did find strong resistance at 1,095 points. The probability of the KLCI testing the next resistance level has become thin. We may see a start of a bearish trend, as long as the KLCI remains below the 1,160 resistance level.

Expecting the KLCI to go into one more bear rally to complete the price cycle in the 3. or 4′ quarter and we already in the third. The forecast for KLCI is 700 points and is only valid IF the KLCI stays below 1.160 points. I have written my analysis about the price cycle in my previous two articles. Stay out of the market and if you have large positions, liquidate some of them and get them back when price gets lower.

Occupation      : Co-founder and CEO, Oracle Corporation

Salary              : $500.0 million USD (2008)

Net Worth       : Below $22.5 billion USD (2009)

Spouse(s)         : Adda Quinn (m. 1967–1974), Nancy Wheeler Jenkins (m. 1977–1978), Barbara Boothe (m. 1983–1986), Melanie Craft (m. 2003–present)

Oracle Corporation, one of the major companies developing database management systems (DBMS), tools for database development and enterprise resource planning software from 1977 and has offices in more than 145 countries around the world. As of 2005, it employs more than 50,000 persons worldwide. An oracle database, strictly speaking, consists of a collection of data managed by an Oracle database management system. The distinction between the managed data (the database) and the software which manages the data relies, in Oracle’s marketing literature, on the capitalization of the world database. Oracle Corporation produces and markets the DBMS, which many database applications use extensively on many popular computing platforms.

Larry Ellison was born in Bronx, New York. At nine months, he contracted pneumonia, and his unmarried 19 year-old mother gave him to her great aunt and uncle to raise the child. He was raised in a two-bed room apartment, and until he was twelve years old he did not know that he was adopted. As a boy, Larry Ellison showed an independent, rebellious attitude and often clashed with his adoptive father. He showed a strong aptitude for math and science, and was named student of the year at the University of Illinois. But during the final exams in his second year, Ellison’s adoptive mother died, and he dropped out of school. However, he enrolled at the University of Chicago the following year, dropped out again after the first semester. His father was now convinced that Ellison would never make anything of himself. But Ellison was very fond of and had learned the basics of computer programming in Chicago and took his skill with him to California, having just enough money for fast food.

For the next eight years, he bounced from job to job. When he was working as a programmer for a company called Ampex, he built a large database for the CIA with a code name, Oracle. (Generally, Oracle means a person considered to be a source of wise counsel or prophetic vision). In 1977, Ellison and his former supervisor from Ampex, Robert Miner, founded Software Development Labs, and created a database program compatible with both mainframe and desktop computer systems. Their first customers were Wright Patterson Air Force Base and the CIA. In 1980, Oracle had only eight employees, and revenues were less than $1 million, but the following year, IBM (International Business Machines Corporation is the largest information technology company with a continuous success dating back to 1911) itself adopted Oracle’s SQL (Structured Query Language) for its mainframe systems and for the next seven years, Oracle’s sales doubled every year. The million dollar company was becoming a billion dollar company.

Oracle went public in 1986, raising $31.5 million with its initial public offering, but the firm’s zealous young staff for the rapidly expanding firm habitually overstated revenues, and in 1990 the company posted its first losses. Oracle’s market capitalization fell by 80 percent and the company appeared to be on the verge of bankruptcy. Ellison bit the bullet and replaced much of the original senior staff with more experienced managers. For the first time, he delegated the management side of the business to professionals, and channeled his own energies into product development. The newest version of the database program was a solid success and in only two years the company’s stock had regained much of its previous value.

Oracle’s fortunes continued to rise throughout the 1990s. America’s banks, airlines, automobile companies and retail giants all depend on Oracle’s database programs. Oracle has benefited hugely from the growth of electronic commerce; its net profits increased by 76 percent in a single quarter of the year 2000. As the stocks of other high tech companies fluctuated wildly, Oracle held its value, and its largest shareholder, Ellison, had come very close to a long-cherished goal: surpassing Microsoft’s Bill Gates to become the richest man in the world.

Larry Ellison is far from the run-of-the-mill businessman. Oracle today is the world’s leading supplier of software for information management and the world’s second largest independent software company, boasting revenues of more than $9.7 billion. Ellison is also known as the Other Software Billionaire.

Ellison is a living proof that business is not something learned through academic books, but rather an innate gift. A college dropout, Ellison is renowned for his impeccable business sense, drive and ambition. It is no surprise that in order to achieve Ellison’s success, one must take huge risks and learn from mistakes made along the way. Ellison also demanded at least 100 percent growth in sales of his company’s software, a near impossible feat for a company that already boasts $100 to $500 million in sales. Although Ellison’s high demands led to a highly stressful work environment, it also led to high productivity and Oracle’s present success.

Oracle underwent some changes before becoming the multibillion-dollar corporation it is today. When first founded by Ellison, it was known as Software Development Laboratories and then reincarnated into Relational Technologies until it finally took on the name it is known as today; Oracle, Larry Ellison presently sits on the board of Apple Computer (a company he once dreamed of taking over) and the many honors and awards he received include Entrepreneur of the Year from the Harvard School of Business.

Being a billionaire, Ellison is also believed to be quite a multi-faceted character: playboy, world champion sailboat racer, sports nut, jet pilot, ruthless businessman, marketing genius, and avant-garde thinker. We weren’t kidding when we said he is no ordinary businessman.

Occupation      : Group Chief Executive Officer / Director of AirAsia Berhad

Net worth        : US$230 million.

Though budget airline phenomenon has been around for two decades in the US and more than 10 years in Europe, it well goes to the credit of Tony Fernandes; who thought it worthwhile to try the concept in the South East Asian region.

He had an ambitious drive to realize his childhood dream of owning an airline, and set up Air Asia, Asia’s first budget airline. That very dream sometimes became a nightmare for the region’s more established full-service carriers, who have watched the no-frills airline’s rising popularity and ticket sales with a considerable degree of alarm.

When Air Asia took the first flight in 2001, many critics in the business community pooh-poohed the idea and said that it would not survive even two months. Some kinder souls said that the operations would be grounded within a period of six months. There were, after all, many barriers in the highly-regulated and competitive airline industry, and a budget airline was a totally new creature in the market. Few believed Fernandes, CEO and director of TuneAir Sdn Bhd, which owns AirAsia, would be able to get the low-cost carrier to take off properly, let alone pilot it to great heights.

When he was young, his parents wanted him to become a doctor, however they allowed him to pursue the field of studies of his choice, the moment he told them about his interest. After graduating from London School of Economics in 1987, he worked as an accountant for Richard Branson’s Virgin Records from 1987 to 1989. At 28, he became the youngest person in recording industry’s history to head Warner Music Malaysia and thereafter, moved up to serve as ASEAN Vice-President of Warner Music.

When he told his wife he was going to start an airline, his wife laughed and said, “why can’t you think of something simple?”Tony replied, “Life is short. If I fail, I fail. At least, I won’t be saying when I am 60 years old that I should have tried this!” Even before Sept. 11, the world’s airlines were in trouble, and his move was not universally hailed as a wise career choice. Most people thought he was crazy.

But Tony Fernandes looked at the brighter side. In fact, the timing was perfect: Since Sept.11, aircraft leasing costs were down by 40 per cent. He could get newer Boeing models than the sick airline had before at the same price. There were many airline layoffs that meant the staff was readily available.

In fact, he had virtually zero experience running an airline. It was the typical story of the underdog starting from nothing. Fernandes, now 40, had to mortgage his house, pour all his savings into the company and rope in several friends as investors. Drawing inspiration from the successes of Ryanair in Europe and Southwest Airlines in the US, he was convinced there was a ready market for budget flying in Malaysia and Asia just waiting to be tapped.

When TuneAir bought AirAsia in 2001 for the token price of RM1, it took over the ailing airline’s two aircraft and debts of RM40 million. After seven months in operation, the budget carrier managed to repay all its debts and make a profit of RM19.4 million. In June 2002, its profit had ballooned to RM30 million. By the end of that year, its fleet had expanded to 10 Boeing 737 aircraft and flown some three million passengers. In November, it formed a joint-venture airline with Thailand’s Shin Corp to operate flights to Thailand. The maiden flight from Kuala Lumpur to Phuket took off on Dec 8.

The Air Asia business model slashed fares on heavily traveled routes, turned around planes much faster than before and stopped serving complimentary food and drinks. Eliminating meals meant that the normal complement of cabin crew could be cut from six to three. And in order to keep the planes in the air more, the flights were expected to spend only 25 minutes on the ground at one time. If passengers are late, they will simply forfeit their tickets. Air Asia was not going to wait. Within a period of four years, the airline had a thriving business, had grown from a modest two planes to 28 in its current fleet, and operates over 100 domestic and international flights daily.

Air Asia’s growing popularity among travelers has compelled full-service carrier^,, to scramble for a slice of the budget-flying share themselves. Singapore Airlines (SIA) is setting up Tiger Airways, and Thai Airways International is in talks with potential partners for a similar venture. Australia’s Qantas Airways has announced Jetstar, an attempt to take on British entrepreneur Richard Branson’s Virgin Blue, which commands about a third of the domestic flight market in Australia. Meanwhile, Singapore-based ValueAir, set up by a former SIA executive, has started flying in 2004. All of a sudden, it seemed that a man’s childhood dream has shaken and changed the airline industry across the region.

People may hate him for he speaks his mind. But what he has done is to wake up everyone from their complacency. His low-cost carriers have also become a boon to tourism for destination countries. To consumers, Tony has reversed decades of brainwashing that air travel necessarily has to be costly. No wonder, Malaysian travelers welcomed its cheap tickets with open arms from day one. Two years after its inception, the new airline was laughing its way to the bank and spreading its wings across the region.

Air Asia was named Asia Pacific Low Cost Airline of the Year 2004 by Centre for Asia Pacific Aviation (CAPA) Air Asia. The airline also clinched the prestigious Euro money award for Asia Best Managed Company in the Airlines & Aviation Sector and Air Transport World’s Market Leadership Award at the recent 2005 Airline Achievement Awards.

If today, people complain that a $300 return ticket to Hong Kong is expensive, clearly, the bar for what constitutes value-for-money has been raised. And, all the credit for that goes to Tony. Since he started the Airline, he has received a lot of letters from people saying that he has inspired them, that they are going to try something different.“That is the biggest kick I get out of this whole thing,” says the high-flier.

Died     : April 7, 1947 (aged 83) in Fair Lane, Dearborn, Michigan, U.S.

Occupation      : Business, Engineering

Net Worth       : above $188.1 billion, according to Wealthy historical figures 2008, based on information from Forbes – February 2008.

Religious         : Protestant Episcopal

Spouse(s)         : Clara Jane Bryant

Children          : Edsel Ford

One of the greatest discoveries a man makes, one of his great surprises, is to find he can do what he was afraid he couldn’t do. And, before everything else, getting toady is the secret of success. Driven by a vision of a new technology, rejecting Formal education, and instead trusting in his native brilliance, he built an empire that made him a folk hero of sorts. A popular symbol of the new era that his ingenuity had helped creates Henry Ford to revere more than Bill Gates.

Henry Ford was born in July 30, 1863 in Wayne County, Michigan. He was the son of Irish immigrants, William and Mary Ford, who had settled on a farm in Dearborn. In addition to helping his father with the harvest, Ford also attended school in a one-room schoolhouse. However, Ford disliked both school and farm life, and at age 16, he walked to Detroit in search of employment.

If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability. So, Ford was employed as an apprentice in a machine shop, where he learned about the internal combustion engine. After several years of learning his trade, Ford returned to the family farm and worked part-time for the Westinghouse Engine Company. Ford set up a small machine shop on the farm and began tinkering with engines and machines.

During this time, Ford fell in love with Clara Bryant, whom he married in 1888. Several years later in 1891, Ford and his wife moved back to Detroit when Ford was made chief engineer at the Edison Illuminating Company in Detroit. (Edison became close friend with Henry Ford and the two often vacationed together mid had adjoining winter homes in Florida.) The position required Ford to be on- tall 24 hours a day, but the irregular hours allowed him time to experiment. This event signified a conscious decision on Ford’s part to dedicate his life to industrial pursuits. His promotion to Chief Engineer in 1893 gave him enough time and money to devote attention to his personal experiments on internal combustion engines.

Ford knew a business that makes nothing but money is a poor business. These experiments culminated in 1896 with the completion of own self-propelled vehicle, the Quadricycle. The Quadricycle had four wire wheels that looked like heavy bicycle wheels, was steered with a tiller like a boat, and had only two forward speeds with no reverse.

Henry Ford realized his dream of producing an automobile that was reasonably priced, reliable, and efficient with the introduction of the Model T in 1908. This vehicle initiated a new era in personal transportation. It was easy to operate, maintain, and handle on rough roads, and it immediately became a huge success initially it took 14 hours to assemble a Model T car. By improving his mass production methods, Ford reduced this to 1 hour 33 minutes. This lowered the, overall cost of each car and enabled Ford to undercut the price of other cars in the market.

Between 1908 and 1916 the selling price of the Model T fell from $1,000 to $360.Through it all, the key to Ford’s success, was his right understanding that the health of his company rested on  consumers spending, not saving, their money. “Buy a Ford and Spend the Difference!” was the slogan Ford himself penned to sell the Model T.

In 1913, Ford began using standardized interchangeable parts and assembly line techniques in his plant. Although Ford neither originated nor was the first to employ such practices, he was chiefly responsible for their general adoption and for the consequent great expansion of American industry and the raising of the American standard of living. The introduction of the moving assembly line revolutionized automobile production by significantly reducing assembly time per vehicle, thus lowering costs. Ford’s production of Model Is made his company the largest automobile manufacturer in the world. Over the next 19 years, Ford built 15,000,000 automobiles with the Model “T” engine, the longest run of any single model apart from the Volkswagen Beetle.

During the next several years, Ford continued to fine-tune his passenger vehicles; In addition, he built racing cars and even drove them himself. However, Ford’s successes were not without problems. Soon after the incorporation of the Ford Motor Company, Ford was threatened by the Association of Licensed Automobile Manufacturers. Ford often said that when everything seems to be going against you, remember that the airplane takes off against the wind, not with it. After years of legal battles, Ford won his case in 1911, which made it possible for more people to become automobile manufacturers.

Ford was able to market the Model T to the general public because of his advanced production technology. As a result, more automobiles were made available at a lower cost. Ford also instituted the $5.00 a day minimum wage, which he claimed increased productivity. The quote that “Coming together is a beginning; keeping together is progress; working together is success,” is attributed to Ford.

He handed over the presidency to his grandson, Henry Ford II. Ford died at his home on April 7, 1947. Although Ford was not the first to build a self-propelled vehicle with a gasoline engine, he was, however, one of several automotive pioneers who helped his country become a nation of motorists. Anyone who stops learning is old, whether at twenty or eighty. Anyone who keeps learning stays young. The greatest thing in life is to keep your mind young.

Height : 6 ft 1 in (1.85 m)

Weight: 185 lb (84 kg; 13.2 st)

Nationality      : United States Residence Windermere, Florida

Spouse             : Elin Nordegren

Children          : Sam Alexis (2007) & Charlie Axel (2009)

Eldrick “Tiger” Woods is considered one of the greatest golfers of all time. In 2005, at the age of 29, he reached the milestones of ten professional major gold championships, placing him third on the all time list behind Jack Nicklaus and Walter Hagen. On December 30, 2004, when he celebrated his 28t” birthday, he had accumulated 40 million dollars in his nine-year PGA career.

By comparison, Jack Nicklaus, also known as “The golden bear” and a major force in professional golf from the 1960s to the mid 1990s, won only 5.7 million dollars.

The PGA Championship is an annual golf tournament, conducted by the Professional Golf Association of America as part of the PGA tour. The PGA Championships is one of the four Major Championships in men’s golf, and it is the golf season’s final major, being played in August.

Tiger Woods was born on December 30,1975 in Cypress, California. His father, Earl Woods, is a Vietnam War veteran of mixed African American and Native American ancestry. He is now chairman of his son’s charitable Tiger Woods Foundation. Woods’ mother Kultida Woods is originally from Thailand, and has mixed Thai and Chinese ancestry. He was given the nickname Tiger at birth after a Vietnamese war comrade of his father’s and became generally known by that name. By the time he was achieving national prominence in amateur gold, he was always called Tiger Woods.

Woods was a child prodigy who began to play golf at a very young age. While still a small child, he demonstrated his golf skills in a television appearance with Mike Douglas, an American entertainer. He took an interest in golf, at age of six months, watching as his father hit golf balls into a net and imitating his swing. He shot 48 for nine holes at age 3 and was featured in Gold Digest at age 5. He won the Optimist International Junior tournament six times at ages 8, 9, 12, 13, 14 and 15.

In 1984, when he was only eight years, he won the 9-10 year-old boys’ event at the Junior Wolf Golf. He went on to win the U.S. Junior amateur title in 1991, 1992 and 1993. He remains the youngest ever winner and the only multiple winner.

He followed this with three consecutive U.S. Amateur win in 1994. It was the year he graduated high school and became the youngest man ever to win that event. Hi His five USGA championships before age 20 qualify him for consideration as the greatest golfer of all time under age 20.

He attended Stanford University and won one NCAA individual championship, Woods decided to leave Stanford after two years because he believed he was ready to succeed as a professional, and became one in 1996, playing his first found of professional golf at the Greater Milwaukee Open (GMO). He won two events in the three months of the 1996 season that he played as professional. I hi following April he won The Masters by a record margin of 12 shots, and he has been by far the highest profile golfer in the world since then. (The Masters is one of four major championships in men’s golf and the first to take place each pm Unlike the other major championships, the Masters is held every year at the same location, Augusta National Golf Club, a private golf club in Georgia, USA.)

In 1997, Woods went to number one in the Official World Golf Ranking for the first time. Despite suggestions that the other players would only be competing for second place from now on, Woods’ form began to fade in the second half of 1997, and in 1998 he only won once on the PGA Tour. At this time he was working on modifications to his swing to adapt to the maturation of his physique. He won seven out of eleven major championships starting with the 1999 PGA championships and finishing with 2002 United States Open.

His 2001 Masters win marked the only time anyone had ever won four consecutive majors, a feat which became known as the Tiger Slam. He broke Old Tom Morris’ record for the largest victory margin ever in a major championship, which had stood since 1862, with his 15-shot win in the 2000 U.S. Open. His dominance was such that Woods won 52 percent of all the prize money he could have won. He won 81.7 percent more than the runner-up, the highest margin since Byron Nelson in 1945 (87.2 percent) and Hogan in 1946 (85 percent). He was the first to have as many as eight PGA TOUR victories in one year since Johnny Miller won eight in 1974.

Tiger always believed that he was the toughest golf player mentally.”A great way to improve your feel is to putt with your eyes closed. After each putt, (to hit a golf ball with a light stroke) try to guess how far the ball rolled. This is the best drill for distance control I know of,” he said. His mother said, Tiger would not be so good if he did not have the fire. I think I gave him the fire.”

Woods skills may have been encouraged by his golf-enthusiast father, but he believes much comes from his Thai side.”Buddhism has been a major role in my life,” he told journalists.”It has given me inner peace and calmness. I owe that to my mom.” What does being half-Thai means to him? “It means a lot, it is the other half of me,” he says. So, if you want to achieve fame in any game, you should always let the fire of ambition burn in you like Tiger Woods did.

He was the man who created one of the first global corporations. He saw long before his contemporaries that a shrinking world could present enormous opportunities for a company that could think beyond its own boundaries, both physically and psychologically. And he pursued that strategy with his relentless brand of energy in every market, particularly the United States. It is notable that in 1998, according to a survey, Sony was rated the No.1 brand name by American consumers, ahead of Coca-Cola and General Electric.

The best way to describe Morita’s extraordinary drive is to scan his schedule for the two-month period immediately preceding his stroke in November, 1994, while playing tennis. He took trips from his home base in Tokyo to New Jersey, Washington, Chicago, San Francisco, Los Angeles, San Antonio, Dallas, Britain, Barcelona and Paris. During that time he met Queen Elizabeth II, General Electric chief Jack Welch, future French President Jacques Chirac, Isaac Stern and many other politicians, bureaucrats and business associates. He attended two concerts and a movie; took four trips within Japan; appeared at eight receptions; played nine rounds of golf; was guest of honor at a wedding ceremony; and went to work as usual for 17 days at Sony headquarters. Morita’s schedule had been decided on more than a year in advance. Whenever there was a small opening, Morita would immediately and strategically fill it by arranging a meeting with someone he wanted to become acquainted with or catch up with. Unlike so many executives who removed themselves from the rest of the corporate pyramid, he was always in the middle of the action.

Born on January 26, 1921, Morita had been groomed since the third grade to become successor of the family business; a prominent sake-brewing company in Nagoya.”Sake” is a Japanese alcoholic beverage brewed from rice. As a student, Akio often sat in company meetings with his father and he would help with the family business even on school holidays. From an early age, Akio was fond of playing with electronic appliances, and mathematics and physics were his favorite subjects during his elementary and junior high school days. After graduating from High School, he entered the Physics Department at Osaka Imperial University.

Morita was an officer in the Japanese navy during World War II. He met Masaru Ibuka, a Japanese electronics industrialist who had already earned a nickname “genius inventor” and co-founded Sony Corporation in 1946. Prior to 1958, the company was called Tokyo Telecommunications Engineering Corporation. At that time, Ibuka was 38 years-old, and the company was launched with 20 employees. While Ibuka devoted his energies to technological research and product development, Morita was instrumental in leading Sony in the areas of marketing, globalization, finance and human resources. Morita also spearheaded Sony’s entry into the software business, and he contributed to the overall management of the company.

In 1949 the company developed magnetic recording tape and in 1950 sold its first tape recorder in Japan. In 1957 the company produced a pocket-sized radio and a year later renamed itself Sony. (Sonus is a Latin word for sound, and Sonny- boys is Japanese slang for ‘whiz kids’) There was opposition within the company to change the name to Sony. Morita stressed that it was necessary to change the name to something easy to pronounce, (In Japanese, it was known as “Tokyo Tsushin Kogyo”) and obviously the move reflected the company’s drive to expand its business globally.

The Morita-Ibuka alliance’s focus was on brand identity, and the duo sought to provide the best available technology and quality to the customer or consumer. One of Sony’s first products was a transistor radio, produced in 1955. While the transistor was developed by Bell Labs and produced by Western Electric, it was Sony that first used it for a small pocket radio, in 1957, creating a new market in the bargain.

The radio’s success led to more firsts in transistorized products, such as a fl­inch television and a videotape recorder. Sony’s technological achievements in product design, production and marketing helped to change the image of MADE IN JAPAN from a notion of cheap imitations to one associated with superior quality. In Morita’s own words, they made Sony the Cadillac of Electronics.

In 1960 Sony produced the first transistor television in the world. It was also the year when Sony Corporation of America was established in the United States.

Morita decided to move to the U.S. with his family and took the lead in creating new sales channels for the company. He believed that Sony should develop its own direct sales channels, rather than relying on local dealers. In that way he would understand Americans, their market, customs and regulations, thereby increasing the chance of his company’s success. It was a brilliant decision. Not many businessmen in those days possessed such a passionate and determined business vision. In the United States, Morita settled into a large Fifth Avenue apartment in Manhattan. He built a solid and valuable network by continually socializing and giving parties during the week, a habit he maintained throughout his career.

Morita once watched his children and their friends playing music from morning until night. He noticed people listening to music in their cars and carrying large stereos to the beach and the park. He insisted on a product that sounded like a high-quality car stereo yet was portable and allowed the user to listen while doing something else – and this is how the “walkman” was born. Sony America considered walkman bad English and changed it to Sound about for the United States, Freestyle for Sweden and Stowaway for Britain. Morita did not like the idea of using a different name for each country, and when sales were less than rewarding, he changed the name universally to Sony Walkman. Subsequently, the Walkman became a worldwide hit and is now featured in renowned dictionaries.

In 1961 Sony Corporation of America was the first Japanese company to be listed on the New York Stock Exchange and eventually in 1989 Sony bought Columbia pictures.

Morita was the first Japanese to be awarded the Albert Medal from the United Kingdom’s Royal Society of Arts in 1982. In 1984, he received the National Order of the Legion of Honor (Ordre National de la Legion d’Honneur), the highest and most prestigious French order, and in 1991, he was awarded the First Class Order of the Sacred Treasure from H. M. the Emperor of Japan. In addition, Morita received numerous awards from countries such as Austria, Belgium, Brazil, Germany, Spain, the Netherlands, and the United States, which indeed demonstrates the extent of his global recognition.

To some poor investors, the markets actually started to crack in early 2008 and then “changed” rapidly in the second half of 2008. But then you thought had a good, solid mutual or unit trust fund managed by a big institution with other great products printed on their glossy brochure. The equity fund you bought at the peak in the previous Bull Run was a solid investment you thought it could do no wrong.

Well, you thought you did everything right and you subscribed the popular buy-and-hold mentality. You didn’t believe that the buy and hold mentality benefits the fund institutions that manage the assets and the sales agents more than you. So the expert who is paid to take care of your investment failed to spot the downside despite all the red flags because he or she was stuck comfortably in the world of decoupling and you watched the fund slide into darkness, even buying more units on the way down to average down your losses.

When the dust finally settled for a while and even with the dead cat bounce you have seen so far, you are still stuck with about 30% losses and part of it belongs to your retirement funds. Suddenly, even your private banker who had lost all the credibility isn’t as confident or brash as he normally is. Your financial planner has also been avoiding you.

You have learned that you need several disciplines in place to improve your long term investing performance. Managing downside risk is one important trick to learn. You have realized that you need to be truly diversified by investing in different asset classes such as equities, commodities and currencies on the planet using different investment styles.

More importantly, you have realized that getting the big picture right is critical. How do you diversify when all asset classes are moving, in tandem? This was a key many faced at the height of the financial crisis in 2008, when all asset classes were collapsing together, but is a concern that remains today whether we like it or not.

Any of our clients who have benefited from our valuable advisory services over the years will tell you that we have long held concerns over the increased tendency for the values of different asset classes to move up or down) in the same direction at the same time regardless of all the beautiful fundamental stories hyped by the shill in the brokerage industry.

We never subscribe totally to long-only or traditional investment positions for our client investment strategy. We know from past experience that alternative investment strategies with low correlation equities and bonds can add tremendous value to any investment portfolio ranging from conservative to aggressive (different investors have different risk tolerances, investment horizons, etc).

Many geniuses in town have continued with play down the role of alternative investments as a true diversifies for any global portfolio at any time to the extent of labeling them as purely speculative.

Client interests should always come first d we have no choice but to grow up. Local investors on the street have been brainwashed for decades that the stock market and traditional investment vehicles are the only realistic ways to build wealth. To invest all your wealth in the stock market either directly or indirectly, that is foolishness, in my view.

I know that there is still a lot of skepticism about the alternative stuff mainly due to lack of exposure. To some institutions that are a little behind the curve, alternative investments should not be viewed as pure imams and a threat to their traditional business models.

The recent global stock rebound was just another dead cat bounce. Never believe in everything that is written here. You should have your own sense of the markets and your own opinions oldie kinds of opportunities you’re looking for. To the mind of this financial writer, global stock markets will chart new lows over the coming months. This is based on our own work. I’m far for being perfect and I may not be right about everything, but I’m willing to hold and defend my independent view.

To some traders, markets have continued to move mysteriously. At the time of writing this missive, the stock markets have continued to deteriorate technically. However, China seems to be an exception in this – for now. I could offer all sorts of other predictions, but what’s the point.

Investors should always look through a different lens, and ask if there’s anything positive we can take away from another round of turmoil? As for long-only equity strategy, it’s not all gloom. Selectivity is going to be important. Are profits guaranteed? Of course not!

In the financial game, there are always the markets are heading next as our usual game plan is to be able to make money regardless of economic and market conditions at various risk levels. I think that the next few weeks and months will not only be very interesting, but also very important. Patience is a virtue as markets could remain trapped in a trading range for weeks before the next big move.

So what? Although action by governments around the world has ensured that the global economy will stay in business, the reality is markets and environments will continue to surprise you on the downside and the upside.

Warren Buffet is famously quoted as saying, “Only when the tide runs out do you see who’s been swimming naked.” It is always better to anticipate risks than to ignore them. Informed caution is our area of expertise and our strong absolute performance in 2008 is a testimony of our hard work.

Died    : December 15, 1966 (aged 65) in Burbank, California, U.S.

Occupation      : Film producer, Co-founder of The Walt Disney Company, formerly known as Walt Disney Productions

Spouse(s)         : Lillian Bounds (1925-1966)

Walt Disney was an American film producer, director, screenwriter, voice actor, and animator. One of the most well-known motion picture producers in the world, Disney was also the cartoon artist of comic books and newspaper-comic strips, the creator of an American-based theme park called Disneyland, and is the co-founder with his brother Roy O.Disney of Walt Disney Company. He created the most famous Mickey Mouse, wearing red shorts and yellow shoes, and the mouse has evolved from being simply a character in cartoons to become one of the most recognizable symbols in the world.

He became interested in personalizing animal’s character after carelessly killing a small owl as a young boy. He felt deeply sorry and guilty and vowed never again to kill a living creature. Disney worked as a paperboy as a youth.

At age 16, during World War I, he lied about his age to join the American Red Cross. He soon returned home, where he won a scholarship to the Kansas City Art Institute. There, he met a fellow animator, Ub Iwerks. The two soon set up their own company. In the early 20s, they made a series of animated shorts for the Newman theater chain, entitled “Newman’s Laugh-O-Grams’.’ Their company soon went bankrupt, however. The two then went to Hollywood in 1923.

They started work on a new series, about a live-action little girl who journeys to a world of animated characters. Entitled the “Alice Comedies”  they were distributed by Margaret Winkler. Walt was backed up financially by Winkler and his brother Roy. Hundreds of “Alice Comedies” were produced between 1923 and 1927, before they lost popularity.

Walt then started work on a series around a new animated character, Oswald the Lucky Rabbit. This series was successful, but in 1928, Walt discovered that Margaret Winkler and her husband, Charles Mintz, had stolen the rights to the character away from him. They’d also stolen all his animators, except for Ub Iwerks. While taking the train home, Walt started scribbling on a piece of paper. The result of these scribbles was a mouse named Mickey. With only Walt and Ub to animate, and Walt’s wife Lilly and Roy’s wife Edna to ink in the animation cells, three Mickey Mouse cartoons were quickly produced. The first two didn’t sell, so Walt added synchronized sound to the last one, Steamboat Willie (1928), and it was immediately picked up. It became the first cartoon to use synchronize sound. With Walt as the voice of Mickey, it premiered to great success.

Many more cartoons followed. Walt was now in the big time, but he didn’t stop creating new ideas. In 1929, he created the ‘Silly Symphonies, a cartoon series that didn’t have a continuous character. They were another success. One of them, Flowers and Trees (1932), was the first cartoon to be produced in color and the first cartoon to win an Oscar; another, Three Little Pigs. The Silly Symphonies stopped coming out in 1939, but Mickey and friends, (including Minnie Mouse, Donald Duck, Goofy, Pluto, and plenty more), were still going strong and still very popular.

In 1934, Walt started work on another new idea: a cartoon that ran the length of a feature film. Everyone in Hollywood was calling it “Disney’s Folly; but Snow White and the Seven Dwarfs (1937) was anything but, winning critical raves, the adoration of the public, and one big and seven little special Oscars for Walt. Now Walt listed animated features among his ever-growing list of accomplishments.

While continuing to produce cartoon shorts, he also started producing more of the animated features. Pinnochio (1940), Dumbo (1941), and Bambi (1942) were all successes; In the mid-40s, he began producing “packaged features; essentially a group of shorts put together to run feature length, but by 1950 he was back with animated features that stuck to one story, with Cinderella (1950), Alice in Wonderland (1951), and Peter Pan (1953). In 1950, he also started producing live-action films, with Treasure Island (1950). These began taking on greater importance throughout the 50s and 60s, but Walt continued to produce animated features, including Lady and the Tramp (1955), Sleeping Beauty (1959), and One Hundred and One Dalmatians (1961). In 1955, he even opened a theme park in southern California: Disneyland. It was a place where children and their parents could take rides, just explore, and meet the familiar animated characters, all in a clean, safe environment. It was another great success.

Walt also became one of the first producers of films to venture into television, with his series “Disneyland” (1954) which he began in 1954 to promote his theme park. He also produced “The Mickey Mouse Club” (1955) and “Zorro” (1957).To top it all off, Walt came out with the lavish musical fantasy Mary Poppins (1964), which mixed live-action with animation. It is considered by many to be his magnum opus. Even after that, Walt continued to forge onward, with plans to build a new theme park and an experimental prototype city in Florida. He never did finish those plans, however; in 1966, he contracted lung cancer. He died in December at age 65. But not even his death, it seemed, could stop him. Roy carried on plans to build the Florida theme park, and it premiered in 1971 under the name Walt Disney World. What’s more, his company continues to flourish, still producing animated and live-action films and overseeing the still-growing empire started by one man: Walt Disney, who will never be forgotten.

President Jimmy Carter once said, “Mickey Mouse is the symbol of goodwill, surpassing all languages and cultures. When one sees Mickey Mouse, they see happiness.” When Disney was in the fifth grade, he memorized the Gettysburg address (Abraham Lincoln’s greatest speech in the American history during the American civil war in 1863) and surprised everyone by arriving at school dressed as Abraham Lincoln, the 16th president of United States. His costume consisted of his father’s old hat and a homemade beard. Little wonder that years later when his studio created the first fully functioning audio-animatronics human figure for the 1964 New York World Fair, the figure looked like Abraham Lincoln.

Walt Disney holds the record of winning the most Academy (Oscar) Awards: 32, a feat that is impossible to beat. The Mickey Mouse logo now identifies an institution whose $22 billion in annual sales make it the world’s largest media company. But it is important to remember what Walt Disney said once, “I hope we will never lose sight of one thing that it was all started by a mouse.”

Died    : January 26, 1932 (aged 70) in Phoenix, Arizona, United States

Occupation      : Confectionery Magnate

Spouse(s)         : Ada

Children          : Dorothy, Philip Knight Wrigley

Parents            : William and Mary A. Ladley

Chewing gum has been around for thousands of years. For a long time, gum was made from things like sap and wax. It did not always taste good. Today’s gum is sweet and comes in many flavors. William Wrigley Jr. is best known for his chewing gum, and his company today is the largest producer and distributor of chewing gum in the world. Wrigley single-handedly chewed up competition to remain on the top of the gum business, because as put it, “when two men in business always agree, one of them is unnecessary.”

While the first chewing gum to be widely advertised was Adams’ Tutti-Frutti, it took the father of the gum, William Wrigley, Jr., to elevate the marketing of gum to an art. In the year 1891, Wrigley arrived in Chicago from Philadelphia. His father had been a soap manufacturer, and the new, would-be businessman initially started that trade by selling a washing soap. Wrigley sought to increase the business by offering vendors baking powder as a free item, and when the baking powder became more popular than the soap, he made that his primary product.

Wrigley then decided to give away two packages of chewing gum free with each can of baking powder. Once again the free item was more popular than the original product sold, and Wrigley entered the gum business. He contacted the Zeno Gum Company to manufacture his product. Zeno made paraffin gum, but Wrigley directed a change to the product. The first gums produced were Lotta, Vassar, and Sweet Sixteen Orange. In 1893 he introduced Juicy Fruit and Spearmint.

Wrigley had entered a competitive held There were at least a dozen companies at the time, and in 1899 the six largest, including Thomas Adams’ firm, formed a powerful ” Chewing gum trust “Wrigley refused to join, preferring his independence. Though he was a stickler for quality, Wrigley’s great talent was his advertising ability. “Anybody can make gum,” he once said. “Selling it is the problem.” His placards appeared in streetcars and subways, and he constructed electric signs, one of them in Manhattan’s Times Square ran up an annual electric bill of more than $100,000. He also sent free samples to millions.

Wrigley’s most impressive selling venture was the “mile-long” sign consisting of 117 linked billboards lining the tracks of a railroad between Atlantic City and Trenton, New Jersey. In 1915 he developed a Mother Goose booklet and gave away some 14 million copies. The brightly-colored volume featured Mother Goose rhymes rewritten to praise Wrigley’s gum (“Jack be nimble/ Jack be quick/ Jack run get your/ Wrigley stick!”). The gum magnate eventually became the largest purchaser of advertising in the United States.

By 1910, Spearmint was the most popular gum in the nation, and in Canada, Wrigley constructed the first of his many factories outside the United States. To boost his company’s image, Wrigley had Chicago’s best architects design “the house that gum built,” a beautiful, white, terra-cotta skyscraper that became one of the city’s great landmarks, and the company’s corporate headquarters.

The company currently sells its products in more than 180 countries and maintains 14 factories in various countries, including Australia, United Kingdom, Canada, New Zealand, the Philippines, France, Kenya, Taiwan, China, India, Poland, and Russia.

Wrigley was a much beloved figure, celebrated for his fair dealings with employees, which included free laundering of work clothes, free manicures for women workers, free life insurance, and a guaranteed annual wage. He was also the first employer in the United States to give the two-day weekend.

In addition to his salesmanship and energy, Wrigley’s success was surely based on his sunny view of life. To him, fear was the great destroyer of dreams.”Thousands are ruled by it,” he once said.”I’ve been broke three times since I started business. Nobody knew it except myself and it didn’t cause me loss of a minute’s sleep. There’s nothing in life that can really hurt you except yourself.” William Wrigley,Jr., died in 1932, leaving the business in his family’s hands.

In 2004 Wrigley company purchased the Life Savers (A traditional American brand of ring shaped hard candy, which are packaged in rolls of about 15 pieces) and Altoids (a popular brand of breath mints that have been in existence since the turn of the 19th century) businesses from Kraft Food for US$1.48 billion.

The William Wrigley Jr. Company today is the world’s number one maker of chewing and bubble gum. Its products include such popular brands as Big Red, Double-mint, Eclipse, Extra, Freedent, Juicy Fruit, Orbit, Spearmint, and Winter- fresh, as well as novelty gums and candies.

The gum trade has been and remains highly competitive and creative. Gums have been used to administer aspirin, nicotine, laxatives, and airsickness medicine. They have been produced in flavors ranging from cinnamon and watermelon to clove and ginseng. Gum has been made sugarless and stick-less (so it won’t pull out dental fillings), spicy and icy, and fruity and minty While chewing gum never won a war or altered the course of history, the sticky substance’s development remains a clever example of American ingenuity and innovation. And, all the credit for that goes to William Wrigley Jr.

The local official acknowledged that because the local medium income social stratum accommodation basic solution, possibly withdraws from the stage center after the suitable room. Expert had reflected that Shijiazhuang promotes this year first batch after the suitable room, over a thousand sets of bitter experiences abandon buy. Expert pointed out that surpasses the national stipulation after the suitable room profit 3%, causes the fixed price super elevation.

The local related department responds said that although development enterprise for its subordinate enterprise, but this batch after suitable room price sensibly, also has not discovered the false report phenomenon, therefore is impossible to reduce prices. This year first batch meets coldly after suitable Shijiazhuang promotes this year first batch after the suitable room, suffers abandons buys the crisis.

According to expert introduced that this city first batch after the suitable branch is two estates, respectively be peaceful park two issue and Nanling plot, located at this city urban district most side on. Others said that beginning the peaceful park two issues and the Nanling plot, the altogether more than 3000 sets of housing, Shanghai buys already the dew weak sign.

Two plot even prices decide as 2680 Yuan/square meters, part of estates have even amounted to 2800 Yuan/square meters, only compared to neighbor ordinary commercial housing low 200 Yuan to 400 Yuan, the peaceful park two issues supply 2389 anterooms publicly, only then 1070 household Shanghai bought, arranges the number to elect Fang Zheyou to be short 333 households. Nanling plot Shen Gouzhe reflected that also has abandons buys.

This batch are referred to after the suitable room profit exceeding the allowed figure pointed out that “Shi Jiazhai Character (2009) Economy is suitable home price instrument of ratification” according to the Shijiazhuang Price Bureau, the peaceful park two issue of volume fractions are 2.5, the soil-rent value according to 1,500,000/Chinese acres, the financial cost according to 6% annual interest rate computation, the government charge part calculated according to 100 Yuan/square meters, its item cost approximately is: Land cost 900 Yuan/square meters, Jianan cost 1000 Yuan/square meters, in addition expenses and so on earlier period design, reconnaissance, project total cost approximately 2280 Yuan/square meters.

But present’s selling price is 2680 Yuan/square meters, the project profit margin is 17.5%. Stipulated according to the country, developer when development after suitable room, the profit do not surpass 3%. Except the last year building materials price high factor, the present profit was still a suspect to exceed the allowed figure.

But in May, this city real estate department’s data demonstrated that multi-layered commercial housing even price 3117 Yuan, after suitable room even price 2116 Yuan. Contrasts the above price, expert believed that the Department concerned is in “hits after the suitable room advertisement, sells the commercial housing the price.” expert disclosed that peaceful park two phase of development enterprise – Shijiazhuang lives in contentment the property development management limited company, is this city housing safeguard and the real estate administrative bureau subordinate enterprise, such “the fathers and sons relations” possibly pushed the high house price.

Expert said that buying homes contract provision: The vendee is suitable the room to this set of economies to have the limited property right, do not carry on the hiring management. Such suitable room price has been too economical to the developer. Although, Nanling plot developer by no means housing administration bureau subordinate enterprise, but because the price is too high, this plot Shen Gouzhe and peaceful park two issue of Shen Gouzhe the abatement claim, and requests to be clear about the property right question.

The Pricing department calls the price superior commercial housing. However, the local related department believed that above after the suitable room fixed price, the ratio is close to the commercial housing to have the price superiority. Shijiazhuang Price Bureau management charge place Department Head provides on July 25 the refresh data demonstrated that is apart from the peaceful park two contract 300 meter estate prices respectively is: Bright sun blue city present room 3700 Yuan/square meters, Phoenix forward delivery housing 4200 Yuan/square meters. Sun Kexin said that when the Pricing department initially fixed a price, the reference constructing housing cost is a standard, but non-peripheral commercial housing price.

The Shijiazhuang Price Bureau cost investigation team shows An Yuan two issue of constructing housing cost audit report showed that the peaceful park plot B area housing cost (including tax) is not each square meter 2348.59 Yuan, the C area housing cost (does not contain tax) is each square meter 2473.77 Yuan. Shen Gouzhe believed that if by this computation, the B area and the C area housing profit also surpasses 13%.

The real estate management department acknowledged that the fixed price is high According to the local media reported that in June, this city commercial housing even price 3300 Yuan, but reporter not yet obtains this menstruation suitable Fang Junjia. Regarding this, the Shijiazhuang housing safeguard and real estate administrative bureau Assistant Commissioner Xiao Xiangbao acknowledged that this time promoted was formerly higher than after the suitable room fixed price, “the volume fraction was low, the building materials cost rise, was the fixed price high principal factor”.

Expert acknowledged that the peaceful park two phase of development enterprises are firmly in the bureau the subordinate enterprise, “, but I may say responsible, this project has implemented the public tender, if has the evidence to demonstrate that some people increase the cost intentionally, we will pursue the responsibility severely.”

Moreover, regarding the limited property right view, expert explained that Shijiazhuang rented the housing and the economy inexpensively is suitable the housing administrative center to explain said that limited property right i.e., if after obtaining the house property right, might transfer immediately, only want passed through the government price department to handle jointly with the real estate management department fixed price, sold for tallies after the suitable room purchase condition family.

Expert said that after 2007, Shijiazhuang fulfils exactly these stipulations, the contract has not indicated the house-owner to have the right of inheritance, has the negligence truly. On July 27, the Shijiazhuang Audit bureau manages in the construction mouth to indicate specially appointed that the Hebei Province audit hall is reexamining this batch after the suitable room construction cost, “the result has not come out”.

Reporter from the authoritative department found the other day; already had the many enterprise state-owned shareholders to raise the objection to the public announcement content, the place state-owned shareholder’s objection are many.

The following stage, society will guarantee door to door to will propose that the objection company will carry on the checking. On June 19, four ministries and commissions have announced 131 To be listed 826 state-owned shareholder’s name lists which needs to fulfill the transfer duty, also pointed out that the state-owned shareholder to transfers the announcement like to have the objection, should, in the announcement issued that in the latter 30 working days feedback and opinion.

According to the authoritative department’s insiders said that in after public announcement one week, a central enterprise has not raised the objection. Because Yang business property right is quite defined, moreover the community responsibility is paid attention to the human. Up to yesterday, also only then the minority several central enterprises proposed the different opinions to the transfer fold of yarn, but does not have one to transfer the duty to propose the different opinions.

On June 25, the strength gathers the stock (quotation stock) to issue the announcement saying that to serves under somebody’s banner the subsidiary company to hold develops the nation electron (quotation stock) the stock to regard as state-owned shares processing to have the objection. This is the first to be listed guarantees the fund to the state-owned shares transfer society to raise the objection.

He said that the next stage, society will guarantee will act according to all levels of national capital committee the material, door to door to proposed that the objection company will carry on the checking, will confirm the name list and the transfer fold of yarn. According to the preliminary statistics, needs to transfer the state-owned stock which holds approximately 8,394,000,000, according to June 19 the closing price computation, the market value approximately is 83,550,000,000 Yuan.

Along with more State-owned business going on the market, will also have the stock to change over to the nation society unceasingly to guarantee the fund, society will guarantee the fund the scale also unceasingly to expand. But “Implementation Means” the 14th stipulation, after society guarantees the foundation extension holds the state-owned shares, enjoys the extension to hold the stock usufruct and the right of disposal, does not intervene to be listed daily management and operation.

The play brocade article believed that along with China Stock market entire circulation’s realization, to be listed stockholder’s rights’ dispersion degree becomes higher. Society guarantees the fund, even if only has 10% stocks, also possibly becomes to be listed biggest shareholder. But takes the biggest shareholder, if does not intervene to be listed daily management and operation, also how the guarantee society does guarantee the fund.

Especially regarding state-owned shares proportion originally not big to be listed, if society guarantees the fund not to participate in the management, possibly is unable to guarantee that society guarantees the fund the benefit not to invade by the non-state-owned shareholder. Recent years although the major stockholder pulled out the spatial to be listed phenomenon to have the reduction, but has not ceased.

If has this kind of situation, not only violates “Implementation Means” the original intention – enrichment society guarantees the fund, will create the state asset the outflow. Regarding this, Chinese Social Science Institute Economics institute Microeconomics Laboratory assistant director the play brocade article believed that in the transfer society guarantees in the question, the place State-owned business’s manner and the Local authority has the close relation.

At present, our country has two set of social security system: A set is the nation society guarantees the fund council, it is a preparation system, the fund raises by the Central authorities unified agreement; Another set is regional scattered society guarantees the bureau, the fund raises voluntarily by the Local authority.

The expert believed that present’s question is, the state-owned shares transfer society guaranteed, lets the place state asset delimit the central committee. Faced with the existing retirement and the unemployed people living cost allowance and so on realistic question, the Local authority needs certainly “to be calculating”. Four ministries and commissions once were clear in June 19, after the public announcement time had ended, already to be listed state-owned shareholder who freezes the stock, has not raised the objection to the supervision organization, will settle accounts the Limited liability company by the Chinese negotiable securities registration to implement the transfer.

This means that the state-owned shares transfer society guarantees the fund, soon starts to transfer the procedure. Also means that the nation society will guarantee will become A market biggest institutional investor. According to the preliminary statistics, needs to transfer the state-owned stock which holds approximately 8,394,000,000, according to June 19 the closing price computation, the market value approximately is 83,550,000,000 Yuan. Along with more State-owned business going on the market, will also have the stock to change over to the nation society unceasingly to guarantee the fund, society will guarantee the fund the scale also unceasingly to expand.

But “Implementation Means” the 14th stipulation, after society guarantees the foundation extension holds the state-owned shares, enjoys the extension to hold the stock usufruct and the right of disposal, does not intervene to be listed daily management and operation.

HSBC trading profit drops 7.5% in the first half of the year, to 58,825,000,000 HK dollars; before the tax, the profit falls 20.1%, to 30,580,000,000 HK dollars. This line of average net assets returns ratio is 22.3%. The total assets raises 2.9%, amounts to 43,850 hundred million HK dollars.

HSBC’s directors – Mr. Zheng Haiquan indicated that even if facing each kind of periphery challenge, HSBC in 2009 the first half of the year’s Asian service may say that is successful, moreover makes the progress, had irrevocably proven its multiplication covers the region widespread mechanics of banking pattern alone superiority. HSBC group’s bank and the capital market service performance ideal round the world, the mortgage and the card service obtains the growth, but the customer’s deposit also rose 9.4%, amounts to 28,170 hundred million HK dollars, reflects the depositor to the HSBC brand trust. At the beginning of the year, Malaysia Hong Kong and Shanghai Bank merges the group, if middle does not include the benefit which produces, the customer’s deposit rise also achieves 5.8%.

Director Zheng indicated that in the China, HSBC continues maintains the leading foreign bank the status, altogether additionally built eight mesh points in the first half of this year, makes the entire Internet (including five between villages and small towns banks) not to expand to 87 take Huifeng as the brand mesh point, spreads 20 cities. In 2009 the first half of the year, HSBC becomes to distribute the foreign RMB bond the foreign bank, is also first provides the RMB settlement service for the interstate trade the bank.

In addition, the HSBC group obtains the Chinese government authorization with to gather the capital in inland being established to occupy half stockholder’s rights respectively the joint capital insurance company, the new company is decided third quarter of 2009 starts doing business. HSBC will begin using in the second half of the year in China’s new headquarters in 2009 in Shanghai. The group service aspect, HSBC will continue with the Shanghai regulatory authority to discuss the HSBC holding stock closely in the Shanghai stock market going on the market plan.

HSBC controls stock (00005.HK) to issue in 2009 today in the Hong Kong Stock Exchange the semi-annual reporting. The semi-annual reporting demonstrated that stops the intermediate stage achievement by the end of June 2009, the shareholder should account for excess profit 3,347,000,000 US dollars (approximately 25,949,000,000 HK dollars), 08 year same time’s 7,722,000,000 US dollars back up 56.66%, each stock gains 21 cents, the propose sending in the second quarter dividend each 8 cents; In the time the net interest income falls 3.02% to 20,538,000,000 US dollars.

Before this, the market universal forecast collects controls the intermediate stage profit to fall yearly 38 to 70%, to lies between 2,340,000,000 US dollars to 4,800,000,000 US dollars. HSBC controls stock announces, stops the intermediate stage achievement by the end of June, 2009, in the time loans the depreciation and other credit risk preparation is 13,931,000,000 US dollars, in 2008 in the first half of the year increases 3,873,000,000 US dollars or 38.51%. Stops by 09 year at the end of June, group’s first level of capital ratio and the total capital ratio maintain strongly, respectively is 10.1% and 13.4%; 12.1% dropped to 6.4% as for the average shareholder total equity repayment by the end of last June.

Died    : July 17, 2001 (age 84) in Idaho

Education        : University of Chicago & Vassar College

Occupation      : Publisher

Spouse(s)         : Philip Graham (1940-1963)

Children          : Lally Weymouth, Donald E. Graham, William Welsh Graham, Stephen Meyer Graham

At Katherine Graham’s 70th birthday celebrations in 1987, the famous columnist Art Buchwald told a gathering of most powerful people in Washington:”There is one word that brings us all together here tonight; and that word is ‘fear’! The audience erupted in laughter, but everyone present there knew that the high and mighty feared this lady because she was fearless.

Katherine Graham was the head of The Washington Post newspaper for more than two decades during the paper’s most famous period, the sensational Watergate coverage that ultimately brought President Richard Nixon down, and the publication of Pentagon Papers. (The Pentagon Papers is a 7,000-page top-secret United States Department of Defense history of the United States’ involvement in the Vietnam War from 1945 to 1971, and the Watergate scandal was an American political scandal and constitutional crisis that led to the resignation of President Richard Nixon.)

Even more important than the fact of her success was how she achieved it. She had courage. She took risks. Of course, many business people take risks. But they take risks for growth and profits. Katharine Graham’s greatest risks – the Pentagon Papers and Watergate – were taken for principle, putting in peril not just growth and profits but possibly the very existence of The Washington Post Co. Everyone knew that a prepublication phone call to Graham would be of no avail. No fear or favoritism would get in the way of her principle.

She wrote her autobiography at 79 and won the Pulitzer Prize for it. Pulitzer Prize is a United States award regarded as the highest honor in print journalism. So, when someone wins the Pulitzer Prize, it is common to greet them with, “Now you know how the first line in your obituary will read.” That is only for ordinary folk. For Graham, it hardly makes the first paragraph. Indeed, the Wall Street Journal front page news digest did not even mention it when she died in July, 2001 at age 84. Instead it said,” She helped guard the integrity of journalism in the Watergate era.” This honor she achieved in an era when women faced a lot of disabilities and prejudices in a male-dominated society.

Her mother, Agnes Meyer, was an educator and her father, Eugene Meyer, was a publisher. He purchased The Washington Post in 1933, and Katharine Meyer began working for the Post five years later. She married Philip Graham in 1940, and in 1945 left the Post to raise her family. In the next few years Philip Graham became publisher of the Post and bought out Eugene Meyer’s voting stock. During this time the Washington Post Company also acquired the Times-Herald and Newsweek magazine.

In 1963, Philip Graham committed suicide and Katharine Graham assumed control of the Washington Post Company. From 1969 to 1979 she was also publisher’ of the newspaper.From 1973-1991 Graham, known to many as “Kay,” was board chairman and chief executive officer of the Washington Post Company, and remained Chairman of the Executive Committee until her death.

In 1997, she published her memoirs as Personal History. The book was lauded for its honest portrayal of her husband’s mental illness. She was awarded the Pulitzer Prize in 1998 for this autobiography.

Under Katharine Graham’s leadership, The Washington Post became known for its hard-hitting investigations, including the publication of the secret Pentagon Papers against the advice of lawyers and against government directives, followed by the Woodward and Bernstein investigation of the Watergate scandal. For these reasons, she and the newspaper are sometimes credited with bringing about the fall of Richard Nixon.

Her remarkable ability to assume the publisher-ship of a major national newspaper, The Washington Post, and control of a Fortune 500 company, the Washington Post Co., was an incredible accomplishment for anyone, particularly a woman in the 1960s. She was injured in a fall in Idaho in June, 2001 and died July 17. She certainly was, in the words of an ABC newscast, “one of the twentieth century’s most powerful and interesting women.”

Should one refinance their home loans, the answer is simple — if there are net savings to lower monthly repayments and save money in the long run as well as flexibility in cash flow management.

Many are still hesitant to do so as they believe their loan is still within the 5-year or above lock-in period, they cannot go about refinancing their loans. However, the reality of the situation is the opposite; homeowners can still refinance their homes even during the lock-in period.

What homeowners need to know is that in view of the low interest rate and competitive home loan products on offer especially with zero moving cost, exploring refinancing is worthwhile even if within lock-in period. In reality, one could also generate savings by refinancing one’s home loan.

Should I Refinance My Housing Loan Now?

The next question is why should homeowners go through the motions of refinancing, which is something they rather not worry about after buying their dream home?

For one thing, they get interest rate reduction. By reducing the interest rates, one benefits from a lower monthly repayment to ease one’s financial burden. Alternatively, the lower monthly commitment enables one to maximize the money set aside for any investment opportunity. In addition to this, if your home market value has increased substantially, you may refinance and cash out to fulfill your current needs or consolidate your higher interest debts to save on interest.

The Best Option Available?

In order to maximize one’s benefit from refinancing a home loan, it is best to fully understand one’s short-term and long-term financial plans and to choose an option that gives maximum value and returns with minimum risks.

Homeowners are advised to always compare home loans on the features offered to have a better idea of what you will be getting. For instance, many banks have zero refinancing costs packages and flexible products, which allow you to deposit your savings to offset on interest with flexibility of withdrawal.

However, homeowners should always review and choose some loan that matches his or her financial plan or economic management of income against expenditures. One has to always bear in mind that a flexible product is beneficial only if one can utilize the facility of deposit to offset on the interest. Otherwise, it would serve as a conventional loan where it defeats the purpose and a person could be paying higher interest rate plus fees and charges.

Occupation      : Executive Chairman of AIC Limited, National Commercial Bank of Jamaica

Net worth : Above US$1.0 billion (2009)

You can’t be an investor unless you think like a businessman. And you can’t be a good businessman unless you think like an investor. Thus says Michael Lee-Chin, Chairman and CEO of AIC Limited, the company he acquired in 1987, and has over the years taken the organization from $1 million to more than $9 billion in assets under his management. Under his stewardship, the AIC also purchased percent of the National Bank of Jamaica in 2002.

Michael Lee-Chin was born in Jamaica in 1951, and migrated to Canada in the 1970s where he studied civil engineering at McMaster University. Interestingly, Chin personally convinced Jamaica’s prime minister to pay for his college degree. Actually, as a young man, he worked three jobs; one of them was helping his parent’s family store. He has also worked as bar bouncer. As the eldest of nine children, he acquired a sense of responsibility early in his life. He learned to take the leader’s approach to every task and project that he took on. Since then, he has felt that he needed to take charge of whatever situation he comes across.

He entered the financial services industry in 1977 as a financial advisor. He has distinct beliefs regarding wealth creation, and a unique investment strategy. AIC’s goal is to create long-term wealth for investors. To achieve this objective, Lee-Chin looked for role models – those business people who created wealth in society by owning one or more businesses. For this reason, Lee-Chin established AIC’s investment philosophy of buying new excellent businesses in long-term growth sectors and holding these businesses for the long term in order to help AIC investors prosper by preserving and growing their capital and minimizing taxes.

Five Laws of Wealth Creation

He understood that successful business people manage their finances in a specific way. AIC has analyzed and distilled that format to create five specific principles – better known as The Five Laws of Wealth Creation.

1. Set a Goal

Work with your financial adviser for the answers to these questions: Where am I today financially? Where do I need to be? How will I get there?

2. Use Other People’s Expertise

Use the wealth of knowledge and experience of your financial advisor, accountant, lawyer or role model in your planning for financial security.

3. Use Other People’s Money

Home ownership works with borrowed money, and investing too. Paying one lump sum for a home is beyond our means; just as saving large sums every month for investing is unachievable for most people. But there is an alternative, and that’s borrowing to invest. At AIC, they call this Upvesting. Think of it this way: Rather than using a $100 pre-authorized chequing plan to invest in a mutual fund you could qualify for an Upvest loan of $14,000. You could invest that $14,000 now and get the full amount working for you years sooner. Speak to your financial adviser about the risks and rewards of Upvesting.

4. Pay Yourself First

Very few of us will get rich quick, so we must be disciplined and consistent in our wealth creation approach. Save 10 per cent of your gross income each month and pay yourself first. It’s not how much you earn that matters, but how much you keep.

5. Buy, Hold, And Prosper.

True investors are those who concentrate on buying businesses rather than stocks. Their three common goals are to: Preserve wealth, grow wealth at an above-average rate of return, and minimize the impact of taxes. To preserve and grow wealth, true investors strive to own the highest quality businesses in strong, long-term growth industries. By holding these excellent businesses for the long term and ignoring the daily market, their wealth grows free of the ravages of tax.

AIC’s success has accorded Lee-Chin a position among Canada’s richest citizens and Forbes ranks him among the wealthiest people in the world. AIC’s success has also allowed AIC’s long-term investor to prosper through the AIC Advantage Fund, the firm’s flagship fund, which has consistently outperformed its benchmark index over the past 15 years.

The company won the Dalbar Mutual Fund Service Award in 2000, 2003 and 2004. In 2001, the AIC American Balanced Fund was named best global balanced fund of the year. And Michael Lee-Chin himself was named Entrepreneur of the Year in 1997. In 2002, he earned the Harry Jerome Award for a decade of achievement. The July 5, 2004 issue of TIME magazine named Michael Lee-Chin one of  “Canada’s Heroes”- representing one of  “the country’s most intriguing and inspiring citizens.”

Lee-Chin is also the founder of the Berkshire Group – three companies known as Berkshire Investment Group, Berkshire Securities and Berkshire Insurance Services. The Berkshire Group has 300 branch offices across Canada, more than 1,100 advisors and assets under management exceeding $11 billion.

Talking of his success, he says he has confidence in his native thoughts.”Once I fully tested my ideas, I’m steadfast in my convictions. Second, my discipline and character have allowed me to become successful. As I said often, I perform tasks today with the same rigor as I did fifteen years ago. Also, I preserve a long term approach to managing a business.

Estate Planning will bring you super rich and famous!!!

Well I hope you don’t get the impression that only the super rich can use such instruments like Will and Trust in their estate planning.

The concept of trust may be new to many people in Asian but the Trustee Act had been in place since 1949!

Don’t Just Give the Fruit, Teach Them To Plant

In your estate plan, you should set up a private trust that you can place your assets in the trust and entrusts the appointed trustee to manage and invest your assets, either movable or even immovable and distribute the interest, dividend or even net rental income to your intended beneficiaries in the form of periodical streams of income.

Remember: Your Beneficiaries CANNOT Simply Sell Your Assets

Since the assets are in the name of the appointed trustee, the beneficiaries cannot simply sell your assets! As you instruct the trustee to pay regular income to them; they will be able to enjoy the fruits of the investments without being able to liquidate the assets.

Properties wrapped in Private Limited

I observe many people like to park their properties such as shop houses and lands in private limited companies. As a company is meant for business purpose, it is not suitable for estate planning purpose.

Though you can pass on the properties to your beneficiaries by bequeathing the shares of the company to them, the drawback is that there is nothing to stop them from selling the company or strip off the properties parked in the company when the time comes!

This is because your beneficiaries will the shareholders of the property- holding company and as long as they agree among themselves, they can do whatever they want!

Reason for Setting up a Private Trust:

A)    You run a thriving business but want to ensure that at least a part of your wealth you have built up is preserved for your loved ones. After the world economic crisis, you have learnt that huge and unexpected risks can hit your business.

B)    You want to ensure that should you die prematurely, your children / next generation are taken care of. You can put assets into a trust with specific instructions on how you want to provide for your children.

C)    You are unsure if your beneficiaries are able to manage their inheritance prudently.

D)    You have a successful career and your wife is a homemaker with no income of her own. You want to ensure that after you die, she will have income to reply on in case your children do not look after her well into her old age.

E)     You have a child who may be disabled or unlikely to be able to earn a decent living.

Moreover, you can set up a trust in support of your favorite religious or charity organizations. You can specify how much to give each year and for what purpose, it was for education for the poor students, disaster relief or supplies for the old folk’s home.

What Is The Advantages Of Setting Up Private Trust

The benefits are many. Some of the most important benefits of setting up Trust are as follows:

A)    Assets held on trust are not subject to probate or Letter of Administration and therefore not frozen upon demise. Your assets like your cash or your properties will not be frozen when you set up an inter vivo trust, unlike all your other assets in your Will.

B)    You can specify your own beneficiaries

You will have full discretion in deciding who you want to include as your beneficiaries who will benefit from your Trust. They can even be an organization, for e.g. an orphanage.

C) You can include your own specific instructions

You can “ time release ” your streams of income to your children over a period of time if you are worried that they may not be able to hold on to their inheritance.

Or providing maintenance and education expenses to minor children in the event of common disaster.

D) Protection of your assets from the reach of creditors

You can protect and preserve your hard earned assets from creditors provided it is not meant to deliberately defraud your creditors. However, it is subject to bankruptcy laws in Malaysia.

Conclusion

While you are busy accumulating your assets, do take time off to plan how you are going to preserve and perpetuate your estate.

Wealth accumulation is rarely an end in itself. Plan your wealth prudently so that your beneficiaries can truly cherish the wisdom of your estate plan.

Residence        :  London, England, UK

Nationality      :  British

Occupation      :  Chairman of Virgin Group

Net worth        :  above$2.5 billion

Spouse(s)         : Joan Templeman (1989–present), Kristen Tomassi (1972–1979), divorced

Children          : Holly Branson ,Sam Branson

Richard’s parents continually set him challenges, because they were determined to make him independent. When Richard was four years old, his mother would stop the car a few miles from their house and made him find his own way home across the fields. When he was 12 years of age, one early morning, his mom packed some sandwiches and an apple and told Richard to cycle to Bournemouth that was fifty miles away from his home. There was no water in the pack and his mother told him to find it along the way. Richard’s mother thought such exercises would teach her son the importance of stamina and a sense of direction. Richard says he had no idea how he passed the test, but he walked into the kitchen the next day like a conquering hero, feeling tremendously proud of his marathon bike ride and expecting a huge welcome.

‘Well done, Ricky,’ his mom greeted him in the kitchen, where she was chopping onions. ‘Was that fun? Now, could you run along to the vicar’s? He’s got some log to be chopped, and I told him that you’d be back any minute!’

When Richard was five, during a family holiday vacation, his Auntie Joyce, had bet him ten shillings that he couldn’t learn to swim by the end of the fortnight. He spent hours in the sea trying to swim against the freezing-cold waves, but by the last day he still couldn’t do it. He just splashed along with one foot hopping on the bottom. He’d lunge forward and crash beneath the waves before spluttering up to the surface trying not to swallow the sea water.

‘Never mind, Ricky,’ Auntie Joyce said. ‘There’s always next year.’ But he determined not to wait that long. He doubted if she would remember it the next year. On their last day, as they drove along he saw a river. ‘Daddy, can you stop the car, please?’ he said. This river was his last chance: he was sure that he could swim and win Auntie Joyce’s ten shillings.

He pulled off his clothes and ran down to the riverbank in his underpants. He didn’t dare to stop in case anyone changed their mind. He braced himself and jumped forward against the current, and came back above the surface taking a deep breath. He swam across the surface of the river successfully. After all, he had to win the ten shillings!

No wonder, Richard crossed the Pacific Ocean from Japan to Arctic Canada in January 1991 in a hot-air balloon, the furthest distance of 4,767 miles and he broke all existing records, with speeds of up to 245 miles per hour.

In 1970 he founded Virgin as a mail order record retailer, and not long after he opened a record shop in Oxford Street, London. During 1972 a recording studio was built in Oxfordshire, and the first Virgin artist, Mike Oldfield, recorded “Tubular Bells” which was released in 1973.This album went on to sell over 5 million copies! Since then many household names, including Belinda Carlisle, Genesis, Phil Collins, Janet Jackson and The Rolling Stones have helped to make Virgin Music one of the top six record companies in the world. The equity of Virgin Music Group – record labels, music publishing, and recording studios was sold to EMI in 1992 in a $1 billion deal.

The Virgin Group has now expanded into international music Mega stores, air travel, mobile, financial, retail, music, internet, drinks, rail, hotels and leisure, with around 200 companies in over 30 countries.

Richard Branson’s Virgin Atlantic Airways, formed in 1984, is now the second largest British long haul international airline and operates a fleet of Boeing 747 and Airbus A340 aircraft to New York, Miami, Boston, Los Angeles, Orlando, San Francisco, Hong Kong, Johannesburg, Tokyo, Las Vegas, Delhi, Lagos, Port Harcourt, Shanghai and the Caribbean. The airline, which carries one million passengers annually, is based on the concept of offering a competitive and high quality Upper Class, Premium Economy and Economy service. The airline has won many major awards, including Airline of the Year Award several times.

In 1997 Virgin took over Britain’s two most run-down rail franchises, Cross-Country and the West Coast Main Line. In 2002, the combined sales of the different Virgin holding companies exceeded ELI-billion. In addition to his own business activity, Richard is a trustee of several charities including the Virgin Healthcare Foundation a leading healthcare charity which was responsible for the launch of a health education campaign relating to AIDS in 1987.

In December 1999, Richard Branson was awarded a knighthood in the Queen’s Millennium New Year’s Honors List for “Services To Entrepreneurship”

Residence        : Chicago, Illinois, United States

Occupation      : Talk show host, media mogul

Salary              : $385 million (2008)

Net Worth       : Above US$2.7 billion (Sept. 2008)

Partner             : Stedman Graham

While living in a small farming community, the girl had a troubled adolescence. She was sexually abused by a number of male relatives, and even the friends of her mother, Vernita. The poor black American girl then moved to live with her father Vernon in Nashville. But, something inside kept telling her that things would somehow change for the better. She would later say, “I remember thinking, my life won’t be like this, it will be better. And it wasn’t from a place of arrogance; it was just a place of knowing that things could be different for me somehow.”

Yes, Oprah Winfrey’s intuition proved correct. And in 2003, Oprah became the first African-American woman to reach billionaire status, according to Forbes Magazine. She has broken through cultural, geographical and gender barriers, letting the world know it’s not your circumstances, but your heart that determines how far you go in this world. In fact, Oprah’s influence on the world has been nothing short of amazing! She has redefined how the world sees women. One of the reasons she is such a great personality is because she listens. And through her ‘Oprah Winfrey’ show, she has taught the world how to listen and face some of the most important issues of our time.

Oprah was born on January 29, 1954. She entered Tennessee State University in 1971 and began working in radio and television broadcasting in Nashville. In 1976, Winfrey moved to Baltimore, where she hosted the TV chat show – People Are Talking. The show became a hit and Winfrey stayed with it for eight years, after which she was recruited by a Chicago TV station to host her own morning show – AM Chicago. Her major competitor in the time slot was Phil Donahue. Within several months, Winfrey’s open warm-hearted personal style had won her 100,006 more viewers than Donahue and had taken her show from last place to first in the ratings. Her success led to nationwide fame and a role in Steven Spielberg’s 1985 film – The Color Purple, for which she was nominated for an Academy Award for Best Supporting Actress.

Winfrey launched the Oprah Winfrey Show in 1986 as a nationally syndicated^, program. With its placement on 120 channels and an audience of 10 million people, the show grossed $125 million by the end of its first year, of which Winfrey received $30 million. She soon gained ownership of the program from ABC, drawing it under the control of her new production company, Harpo Productions (“Oprah” spelled backwards) and making more and more money from syndication. Riding on her wave of fame and publicity, her personal chef, Rosie Daley, and trainer, Bob Greene, both published best-selling books and became very rich.

Since she herself had a troubled childhood, the famed Oprah became a dedicated active to support the children’s rights. It is no exaggeration to say that her early trauma in life gave Oprah the tools and the strength to become great. She even calls herself an ‘abuse survivor’ and many a times she suffered because, “I didn’t want to say “No” because I also didn’t want to hurt anybody’s feelings. I didn’t want to say “NO” because I didn’t want anybody angry with me.”

In 1991, this abuse survivor initiated a campaign to establish a national database of convicted child abusers. Then-President Clinton signed the “Oprah Bill” into law in 1993. In the aforementioned interview, Oprah stated:”A part of my mission in life now is to encourage every other child who has been abused to tell. You tell, and if they don’t believe you, you keep telling. You tell everybody until somebody listens to you. I don’t want another child to be afraid of saying, ‘This is what happened to me’.”

During the 2002 Christmas, her life changed when she traveled to South Africa to bring holiday cheer to the children. She calls those 21 days some of the most miraculous days of her life. “ I realized in those moments why I was born, why I am not married and do not have children of my own. These are my children. I made a decision to be a voice for those children, to empower them, to help educate them, so the spirit that burns alive inside each of them does not die,” she said. With the help of Nelson Mandela, Oprah launched Christmas-Kindness, giving the children of South Africa one day of pure joy, toys and hope, just as she received as a 12-year-old on welfare. According to the Chicago On Time , Oprah has donated more than $50 million to charity.

In 1999, she co-founded a company called Oxygen Media that is dedicated to producing cable and Internet programming for women. With this Oprah ensured her place in the forefront of the media industry and as one of the most powerful and wealthy people in show business.

In the words of Chicago Mayor Daley, “Oprah Winfrey is quite possibly the most successful woman we’ve seen in the last century. She is extremely disciplined and hardworking and has a natural ability to draw people to her.”

Perhaps the best compliment for her comes from Rev. Jesse Jackson who said, “She has handled success with grace and dignity. She has been mindful of people who represent the suffering that she has been through …She goes from the most humble people to the most celebrated without breaking her rhythm.”