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Business Blogging: Failure Signs Of Six Sigma And Why

2008-12-25T10:03:00.000+08:00

Business Blogging: Failure Signs Of Six Sigma And Why

High Anxiety For Bukit Antarabangsa Residents As Fear Of More Landslides Mounts

2008-12-10T20:13:00.002+08:00

KUALA LUMPUR, Dec 9 (Bernama) -- The landslide which occured in Bukit Antarabangsa on Saturday has left its residents in a state of high anxiety.

They fear the area is no longer safe as similar landslides could recur in the near future.

Standley Jayabalan, a resident of Taman Bukit Jaya, said he was always worried that landslides would recur, adding that although his house was not in the danger zone, he did not feel safe.

"I am scared, worried ... after the incident on Saturday, we feel even more unsafe. We would like to move out, if possible, but where could we go? We have already bought this house," said Jayabalan, in his 40s.

He said after the incident, the value of houses in Bukit Antarabangsa had gone down.

"After the Highland Towers tragedy in 1993, the value of houses here had dropped, but it increased after some time. However, with this latest incident, the value of our houses is becoming lesser," he added.

The Highland Towers incident on Dec 11, 1993, claimed 48 lives. On Nov 20, 2002, an incident involving a bungalow in Taman Hillview saw eight dead.

Last Saturday's landslide in Bukit Antarabangsa left four killed.

Another resident of Taman Bukit Jaya, Arif Abdullah, in his 40s, said the landslide has made him want to move out, a move which was postponed previously.

"It is a strong enough reason for us to move out as we worry about our safety," he said.

Meanwhile, a resident of Oakleaf Park Condominium, Mohd Nurul Faizin Abdul Rahim, said any feeling of fear and trauma experienced from the landslide would have to be pushed aside.

"I forked out my hard-earned savings to buy this house. I wouldn't know where to rent a house if I had to find another place," he said.

However, he said he would decide otherwise if specialists deemed his housing area 'dangerous' to reside.

Another resident of a bungalow in Taman Bukit Mewah, Datuk Syed Taha Syed Mohamed, said his housing area was still safe as it was located on a gentle slope.

"The authorities should take precautionary action so that the incident will not happen again," he said, adding that he was grateful his house was not affected by the landslide.

-- BERNAMA

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2008-11-08T13:14:00.002+08:00

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2008-11-08T13:03:00.001+08:00

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2008-10-30T06:02:00.006+08:00

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2008-10-30T05:41:00.000+08:00

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Swiss probe $430 million payments in Alstom case

2008-10-28T23:22:00.001+08:00

BELLINZONA, Switzerland (AP) - Swiss prosecutors are investigating suspicious payments totaling more than 500 million Swiss francs ($430 million) as part of a corruption and money laundering probe linked to the French engineering company Alstom SA, according to court documents released Tuesday.

Prosecutors allege that Alstom funneled bribes worth 70 million francs ($60 million) a year through its Swiss subsidiary, hiding the payments as "consultancy fees,'' the documents released by the Federal Criminal Court said.

Swiss police searched premises linked to Alstom in August and arrested one individual, who is suspected of corruption and money laundering. The raids across Switzerland included offices belonging to subsidiary Alstom Prom AG in Baden, about 20 kilometers (12 miles) west of Zurich.

The arrested individual was a former compliance manager of the Alstom Group, who also was a member of the management of Alstom Prom. Authorities declined to identify the manager. He was released on Oct. 10 because prosecutors said there was no danger he would suppress evidence in the case.

Prosecutors suspect that Alstom used Alstom Prom to make payments to foreign officials in order to win international contracts for the French group.

The transactions under investigation go back to the year 2000 and were recorded as "consultancy fees'' worth more than 500 million francs ($430 million), according to the documents.

Alstom officials in Paris had no immediate comment.

Prosecutors said they regard a large share of these transactions as suspicious because numerous consultants did not provide any services for Alstom. Instead, their bank accounts were used to transfer payments to third parties.

Prosecutors said that in some cases there was proof that money was paid to foreign officials, including for projects in Italy, Zambia and Mexico.

They allege that between January 2001 and April 2003, bribes of around 1 million euros ($1.25 million) were sent via different offshore companies to an official in Zambia.

Prosecutors also said two Swiss companies had billed Alstom for more than 10 million francs ($8.6 million) and 300,000 euros ($374,000) respectively. The sums were allegedly used to pay cash bribes.

The Federal Criminal Court in Bellinzona approved a request by one company that prosecutors have to share copies of the documents they seized.

Alstom, a maker of high-speed trains and power stations, was saved from bankruptcy in 2004 when French President Nicolas Sarkozy, who was finance minister then, organized a state bailout for the ailing firm.

A related French inquiry was opened in November 2007, following a tip received by Swiss authorities.-AP
Source:http://thestaronline.com/news/story.asp?file=/2008/10/28/apworld/20081028215029&sec=apworld

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2008-10-28T05:47:00.000+08:00

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Former Entellium execs nabbed for fraud

2008-10-19T16:34:00.000+08:00

PETALING JAYA: Multimedia Development Corporation — guardian of the country’s MSC Malaysia initiative — is keeping a close eye on the alleged fraud in the United States involving a prominent MSC Malaysia-status company, Entellium Corp.

MDeC is monitoring the situation, said Ng Wan Peng, vice-president of its capability development division, after news of the alleged crime came to light in Malaysia.

Two former top Entellium executives were arrested in the United States recently for allegedly overstating the company’s revenue in order to attract more funding. The arrests were reported by The New York Times this week.

“Everybody is still in shock over this,” Husni Salleh, Malaysia Venture Capital Management Bhd (Mavcap) chief executive officer, told In.Tech on Tuesday. Mavcap, a subsidiary of the Finance Ministry, has RM7mil invested in Entellium.

Entellium also has an R&D grant of RM7.5mil from MDeC, of which RM1.2mil has been disbursed.

“There are policies and processes in place to manage and monitor the grant of MSC Malaysia-status and other incentives. Such policies and processes are constantly being reviewed and updated,” said MDeC’s Ng.

According to The New York Times, former Entellium chief executive Paul Johnston and former chief financial officer Parris Jones are accused of overstating revenue by more than 400% over the last three years.

They allegedly inflated 2007 revenue from US$1.74mil (RM6.09mil) to US$5.22mil (RM18.27mil).

The report also said that the customer relationship management software company had laid off 50 of its 68 employees at its Seattle headquarters due to financial problems.

In this country, Entellium has its R&D operations and helpdesk at the Petronas Twin Towers. Local Entellium officials could not be contacted for comment last week.

Entellium offers sales, customer service, and marketing automation solutions that are hosted over the Internet.

It was set up in Malaysia in 2000 and expanded to Seattle in 2003. It received MSC Malaysia-status last year.

Entellium was named “The One to Watch” in the US CRM market leader awards (salesforce automation category) in the Sept 2004 issue of CRM magazine. -The Star

Too much melamine found in 18 types of biscuits - The StarOnline

2008-10-17T12:31:00.000+08:00

PUTRAJAYA: Eighteen types of biscuits bearing the Khong Guan and Khian Guan brands have been found to contain excessive levels of melamine.

Health Minister Datuk Liow Tiong Lai said the contamination is from the raising agent ammonium bicarbonate from China which was used to produce the biscuits.
Quick action: Sundry shopowner, Tan, said she would remove the biscuits from her shelves even though she has yet to hear from them.

As a result, Liow said, ammonium bicarbonate from China was now banned. Ammonium bicarbonate from other countries would be taken for tests.

“Results from our tests found that the melamine level in the ammonium carbonate used for Khong Guan and Khian Guan biscuits is 33.4ppm and 508ppm respectively,” he told a press conference on Thursday.

The permissible level of melamine is 2.5 parts per million (ppm).

He said 18 out of 47 products had been found with excessive levels of melamine and the manufacturer has been instructed to recall them.

“We have also requested that they voluntarily recall the rest of their products,” he said.

“All factories that use ammonium bicarbonate from China will have their products tested. We will test all biscuits in the country,” he said.

Earlier, the ministry had found Ego White Rabbit Creamy Candy and Taro brand biscuit by Bairong to contain excessive levels of melamine and ordered that the products be withdrawn.

He said the ministry was checking Julie’s Crackers and Mali unsweetened condensed milk which was reported in the media to contain excessive levels of melamine.

Liow said consumers could contact the Food Services and Quality division at 03-8883 3655/3503/3652/3500 for information.

Khong Guan Sdn Bhd and Khian Guan Biscuit Manufacturing Company Sdn Bhd, in a joint statement, said they would fully cooperate with the ministry and would ensure that the products were recalled quickly.

The two companies said they have ceased using ammonium bicarbonate from China and had switched to those sourced from other countries.

“Khian Guan and Khong Guan have never used any dairy ingredients of Chinese origin in our products. All our dairy ingredients are sourced from either Australia or New Zealand,” they added.

Prepare to lose jobs in Singapore

2008-10-16T22:53:00.000+08:00

SINGAPORE: The 300,000 Malaysians employed in the island republic have been
advised to gear up for retrenchment if the country continues to slide into a
recession.

Human Resources Minister Datuk Dr S. Subramaniam said that although the
technical recession experienced by Singapore has not yet translated into
unemployment, it was better for Malaysians to be prepared.

"If there is unemployment due to a recession, our workers will be hit," he
told *The Star *here yesterday.

"They need to work on retraining and acquiring new skills to ensure they
have jobs during such times."

He said that Malaysians accounted for about 30% of the foreign workforce in
Singapore.

Dr Subramaniam said that many of the Malaysian workers in Singapore were
unskilled and employed in the manufacturing sector.

Asked about whether the ministry had a contingency plan for such a situation
in Malaysia, he said that Malaysia would have excess job vacancies as work
presently being done by foreigners could be offered to locals instead.

According to economic data released by Singapore's Ministry of Trade and
Industry, the island republic will be the first Asian economy to fall into a
technical recession.

A technical recession is generally defined as two consecutive quarters of
contraction in economic output.

Dr Subramaniam, after an hour-long meeting with his Singapore counterpart
Gan Kim Yong, said they had discussed various issues.

On instances of Malaysian workers being cheated in Singapore, he said that
the Malaysian High Commission had received 1,250 complaints within the
first nine months of this year.

Dr Subramaniam added that there was something wrong with the recruitment
mechanism and the ministry would have to check on the matter.

Unlicensed deposit-taking firms raided

2008-10-16T22:28:00.000+08:00

PETALING JAYA: Following public complaints, Bank Negara Malaysia (BNM) raided four companies — Buluhmas Enterprise Sdn Bhd, Jazmeen (M) Sdn Bhd, Noradaz Travel & Services Sdn Bhd and Eastana Farm Industries Sdn Bhd — on suspicion of involvement in illegal deposit-taking and money-laundering activities.

The four companies, based in Kuala Lumpur, Selangor and Negri Sembilan were raided under Section 25(1) of the Banking and Financial Institution Act (BAFIA) 1989 and Section 4(1) of the Anti Money Laundering and Anti Terrorism Financing Act (AMLATFA) 2001, BNM said in a statement yesterday.

-theedgedaily.com

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2008-10-13T13:45:00.000+08:00

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Publish Post

[PTC] - OccupEx PreLaunch

2008-10-11T08:55:00.001+08:00

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If You are a premium member, and click 10 ads a day ($0.0125 / click * 10 ads = $0.125 earnings), You refer 100 members who click 10 ads a day ($0.01 / click * 10 ads * 100 referrals = $10 earnings), You earn $10.125 a day. That comes to $303.75 a month, $3645 a year. There is no limit in the amount of websites You visit or in the referrals that You obtain. With more referrals or ads the earning potential is endless. Imagine how much could You earn if You had 1000-5000 or even 10000 referrals!

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About the PreLaunch

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