Khazanah Graduate Trainee Program

The Khazanah Graduate Trainee Program (KGTP) is a 12-month program aimed to nurture the nation’s new generation of leadership. Well rounded young professionals will be identified to specialize in investment field.

This program is applicable to young Malaysian students who would be graduating in year 2013. All academic fields are accepted as long as the candidates have strong interest and aptitude in investment.

Here, successful candidates are taught relevant technical skills that include valuation, financial modeling, transaction structuring, capital market regulations and leadership skills that cover self management, presentation delivery and so on. On top of these, opportunity will be abound for the trainees to participate in Khazanah major events, including Khazanah Megatrends Forum and Khazanah Global Lectures.

These teachings are covered in two sector attachments, each lasting for six months. During these attachments, trainees can identify real life job opportunities that they can engage with upon the completion of the program.
Each participant in the Khazanah Graduate Trainee program will be assessed for performance feedback, done on quarterly basis. Based on the performance assessment, the trainees will be trained and groomed accordingly to address the shortcomings and improve the strengths.

Interested candidates can apply by writing to khazanahgtp@khazanah.com.my by no later than 5 October 2012, enclosing the resume that underlines the candidates’ academic and non academic credentials.

Tan Sri Hamzah Abu Samah Dies

Tan Sri Hamzah Abu Samah, a former cabinet minister and the Malaysia Olympic Council’s Honorary Life President has died. Cause of death is said to be nature. He breathed his last at the University Malaya Medical Centre.

Tan Sri Hamzah Abu Samah

He leaves behind his wife, Toh Puan Zainon Hussain, who happens to be the sister of Prime Minister Datuk Seri Najib’s father, the late Tun Razak.

Tan Sri Hamzah began his career in politics after securing a poll win as Raub Member of Parliament in 1967. He later held various ministerial positions including as Defence Minister, Sports Minister and Minister of Law until his decision to quit politics in 1980. He was the President of the Olympic Council for 1976-1998 tenure, and shouldered other key leadership positions in a number of associations.

Tan Sri Hamzah Abu Samah was born in Pekan, Pahang on 5 January 1924. He was schooled at the Malay College Kuala Kangsar (MCKK) and obtained a law degree in London, England.

[Image: Sinar Harian]

Two Malaysian Medical Students Died in Russia Crash

Two Malaysian Students died in a tragic accident soon after returning to Russia after spending the raya break with their family back in the country. Hanisah Muhd Shah @ Abdullah and Adzreen Dimyati, both 22, were traveling in a van from Moscow Airport to Nishny when their van collided with another van head to head.

Both were medical students in Nishny Novgorod State Medical Academy and were on their fifth year of education. They were part of some 400-strong Malaysian student community in the institution. Hanisah, a scholar of Majlis Amanah Rakyat (MARA), hailed from Dungun, Terengganu while Adzreen was from Putrajaya. The latter was JPA’s sponsored student.

Hanisah was killed on the spot, while Adzreen succumbed to her injuries on the way to the hospital. Five other female Malaysian students were also injured in the accident. The van driver also lost his life.

Currently, there are about 3,000 Malaysian students studying in Russia, many of them undertaking medicine course.

Al-fatihah and condolences to the family.

New System to Help Doctors Rest More

New doctors in Malaysia are generally known to face tremendous pressure during the housemanship period. All this is to be put to an end as the Health Ministry is mulling to introduce a new system.

This new system, once put in place, will help assist doctors get more rest and reduce the working stress. Minted as a “hybrid system”, positive aspects of the on-call system and shift system will be introduced. It wasn’t mentioned what are some of these positive aspects.

However, as explained by Health Ministry, Datuk Seri Liong Tiow Lai, changes in existing system might not be applicable for every department in hospital, as needs and requirements for different units vary. Two of such departments are the Accidents and Emergency (ANE) and Oncology and Gynaecology (ONG). Therefore, the solution being considered is not a one-size-fits-all product.

Legoland Malaysia Job Vacancies: More to Come

Legoland Malaysia creating more job vacancies down in Johor.

Down south in Johor, the opening of the Legoland Malaysia themed park in Iskandar Malaysia has created more job vacancies for Malaysians, especially in the field of design and creative.

Local model builders have been given the chance to showcase their creativity and design prowess by helping to construct the Lego brick models in Nusajaya, the economic center of Iskandar Malaysia. Since the Lego buildings are set to become export source for the company in its Asia expansion, model builders can now look forward to secure highly niched career path.

As more Legoland parks to be unveiled in the next few years, the design skills of these models builders can be put to good use. Next in line for Legoland’s Asia parks after Malaysia include Dubailand (Dubai, UAE) and Legoland Japan (Nagoya, Japan).

The boss of the Legoland Malaysia is said to be very happy with the performance shown by the Malaysian model designers. According to Siegfried Boerst, the General Manager of Legoland Malaysia, the company is looking to hire more Malaysia-based designers upon seeing the tremendous results produced in Nusajaya. The company plans to open a new Legoland park every three to four years.

Legoland is chain of Lego-themed parks. It is closely associated with the Lego Group (famous with its Lego brick models for kids’ entertainment), but the group itself does not wholly own the parks. Rather, these parks are operated by Britain-based Merlin Entertainment. Legoland parks are aimed to attract families with young children (11 years old and under). Although they have a number of roller coasters, the coasters are designed towards emphasizing safety to the riders, and are not known for extreme rides.

Legoland Malaysia is the first to be operating in Asia. Other Legoland parks are located in Germany, Denmark, United States (California and Florida) and United Kingdom.

Carrefour Closing Singapore Stores

It is official. Carrefour is closing its Singapore stores. The French hypermarket operator has decided that its two stores in Singapore, located in Suntec and Plaza Singapura respectively, will be closing their business as the company has been unsuccessful in selling its operations in both Singapore and Malaysia. It signals the end of the company’s 15-year presence in the South East Asia country.

Carrefour began its operation in Singapore in 1997.

The company may also be executing a fresh round of job cuts involving between 500 and 600 people in their country of origin, France. The company is headquartered in Boulogne Billancourt in Greater Paris.

With over 1,300 stores operating, Carrefour is currently one of the largest hypermarket chains in the world. By the end of 2009, it was the second largest group in terms of revenue behind Wal-Mart, and was third largest in terms of profitability.

Carrefour operates mainly in Europe, China, Southern America (Brazil, Columbia and Argentina), Middle East (UAE and Saudi Arabia), North Africa and Asia.

German Unemployment Continues Rising

Germany unemployment continues to rise for fifth consecutive months, signaling the struggle by the country known as the strongest economy in the Europe.

The country’s unemployment today sits close to a post-reunification low, with the Federal Labour Office beginning to admit that the slow economic growth is beginning to adversely affect its job market. Germany’s job market has been widely acknowledged as the most resilient in the continent.

The seasonally-adjusted unemployment has risen by 9,000 in the month of August, adding the number of people out of work to a total of 2.9 million people. The figure is the highest unemployment number since November 2011. Also, data released by the federal authorities indicated that imports, exports and industrial orders have shrunk down significantly, while the business and investment sector also exhibiting similar trend.

The growth domestic product (GDP) growth has been slowing down to 0.3 percent in the year’s second quarter, with many companies opting to cut back their investments in fear of economic backlash, amid the debt crisis sweeping across the southern Euro zone territories. Economists and analysts are also pessimistic about the third quarter; in fact, few believe that German could technically fall into a recession at the end of the third quarter.

A country is deemed to have fallen into a technical recession when it experiences two consecutive quarterly contraction.

The economic development throughout the winter has been less than encouraging. This in turns created loss in momentum, and the worsening sovereign debt crisis is amplifying the predicament.

In terms of unemployment rate, the Germany’s figure in August remains the same as July, i.e. at 6.8%. This outperforms the Euro zone as a whole, which has an average unemployment rate of 11.2%.

SEGi College Now a University

SEGi has upgraded its status from a college to university.

The Ministry of Higher Education has recently issued a certificate of registration for the institution to be officially known as SEGi University, much to the delight of its 1600-strong workforce. The latest development is also a boost for SEGi in its quest becoming one of the major educational forces in Malaysia.

In an official statement, the Vice Chancellor, Emeritus Professor D. Muhamad Awang remarked, ““This upgrade to University marks the beginning of a new chapter in SEGi’s development as a leading provider of industry relevant and recognised qualifications. It is also a mark of distinction reflecting the Ministry’s confidence in our impressive accomplishments and capabilities,”

Historically, SEGi  was first established as Systematic College with its first location in Kuala Lumpur. The main campus was later moved to much better facilities based in Kota Damansara, and at its peak was a home to more than 20,000 students. SEGi offers affiliated educational programs with overseas universities including United Kingdom (Sheffield University, Abertay Dundee, Sunderland and Greenwich), United States (Upper Iowa University) and Australia (University of Southern Queensland).

EPF Withdrawal at Age 60 in 2013

An amendment to the EPF Act will be made to allow EPF account holders who retire at age 60 to withdraw their EPF at the same age in 2013, announced Human Resources Minister, Datuk Dr. S. Subramaniam.

First enforced in 1991, the EPF Act stipulates compulsory contribution to workers who are not entitled for pension benefits. Most of these workers come from the private sector and the government-linked corporations (GLCs).

Also, in the amendment, those who extend their retirement age to 60 will be compelled to continue contributing to the EPF account throughout their employment, until their official retirement day. This second amendment is to be made congruent to the Minimum Retirement Age Bill 2012 (extension of retirement age from 55 to 60), which has been recently passed in Parliament.

Additionally, 30% of EPF withdrawal can be made at age 50 and the remaining at 55, while those who do not take the money out can make full withdrawal at 60 years of age.

Over 2,000 New Jobs Created through EPP2: Subramaniam

The Entry Point Project 2 (EPP2), which is part of the Malaysia government’s Economic Transformation Plan (ETP), has created 2,210 new jobs, according to Datuk Dr. S. Subramaniam, the Human Resources Minister.

Subramaniam is also concurrently heading the business service “engine” of the National Key Economic Area (NKEA). Other than the business services, other economic engines or industries include the following: Oil and gas, tourism, palm oil, financial services, electronics and electrical, healthcare, wholesale and retail, education, communications content and infrastructure, and finally the greater Kuala Lumpur/Klang Valley.

In addition to these new job creations, more than RM318 million in services export value has been created in this year’s fiscal year, representing roughly a 9% increase in export values. The job creation, on the other hand, makes up a 50% rise in new jobs.

Under the Business Services NKEA implementation, the country is targeted to become one of the leading countries that hosts globally competitive outsourcers by the end of EPP2 implementation. The Economic Transformation or ETP program is an ambitious initiative by the Malaysia government to turn the country into a high-income economy by year 2020. The ETP is spearheaded by the Performance Management and Delivery Unit (PEMANDU).

To date, through the EPP2, 14 new companies have been operating in the services sector, with the number of new jobs expected to rise up to over 4,000 in the next couple of quarters. Many of these new companies are operating in consultancy, logistics, oil and gas, technology, accounting services and HR outsourcing services.

Some of the prominent companies identified include American Insurance Association (AIA), AIG, Frost & Sullivan and Air Products Shared Services.