Federation of Malaysian Manufacturers aims for closer, regular engagements with govt

KUALA LUMPUR, Oct 22 — The Federation of Malaysian Manufacturers (FMM) looks forward to closer and regular engagements with the government on relevant programmes and initiatives under the 11th Malaysia Plan’s (11MP) 19 priority areas and the six…

US-China conflict benefits export of Malaysian palm oil, says ministry

KUALA LUMPUR, Oct 22 — The trade conflict between Malaysia and China has actually led to higher export of Malaysian palm oil to China, says the Ministry of Primary Industries. The conflict has resulted in China importing less soybean oil from the…

BNM international reserves at US$102.8b as at Oct 15

KUALA LUMPUR, Oct 22 — Bank Negara Malaysia’s (BNM) international reserves amounted to US$102.8 billion as at October 15, 2018, after taking into account valuation changes, compared with US$103.0 billion as at September 28, 2018. It said the…

Social Impact Exchange lists 11 new high impact projects

KUALA LUMPUR: Agensi Inovasi Malaysia (AIM) today announced the listing of 11 new high impact projects on the Social Impact Exchange (SIX), the country’s first pay-for-impact exchange to channel untapped corporate resources to high-performing social-purpose organisations (SPOs).

“We hope to list another five to six high impact SPOs by end of this year,” AIM CEO Naser Jaafar told reporters after announcing the new listing here today.

SIX, which was launched by the ex premier Datuk Seri Najib Abdul Razak during the Global Entrepreneurship Community Summit in December last year, is designed to parallel a traditional stock exchange, and pave the way for more innovative financing model for SPOs.

Prior to listing on the SIX, SPOs including non-governmental organisations and social enterprises, are evaluated based on their capacity, track record, intended social impact as well as financial sustainability.

To date, there are 19 high impact SPOs listed on SIX.

PayNet to introduce e-payment service DuitNow in December

KUALA LUMPUR, Oct 22 — Payments Network Malaysia Sdn Bhd (PayNet) and some 14 banks are expected to offer DuitNow, a new electronic payment service that allows customers to transfer money securely and instantly using…

Datasonic down 8.24% after hitting 51.5 sen high

PETALING JAYA: Shares of Datasonic Group Bhd rebounded as much as 6.2% in early trade but trended lower again on heavy selling pressure.

At 10.58am, the stock was trading at 47 sen with 67.99 million shares done, being the second most actively traded counter.

Last Friday, Datasonic denied allegations of gratifying former Deputy Prime Minister Datuk Seri Ahmad Zahid Hamidi for passport related jobs. 

It also denied making any payments to Ahmad Zahid, who claimed trial for graft charges on Friday, clarifying that it instead bagged passport related jobs by way of open tender.

Ahmad Zahid was accused of receiving a RM5 million cheque from a director of Datasonic in relation to the supply of 12.5 million chips for the Malaysian passports and had subsequently received another cheque amounting to RM1 million during his stint as Home Minister.

Datasonic explained that its unit Datasonic Technologies Sdn Bhd (DTSB) had secured the five-year contract to supply passport polycarbobate datapages and printing system based on per passport produced through an open tender in April 2012.

“DTSB was awarded for the supply of 12.5 million chips on 15 December 2015 based on value proposition of enhanced chips security (to put the chips bonded into the polycarbonate datapage instead of at the back of passport cover) and 15% lower pricing as compared to the previous vendor that provided a total saving of RM56.25 million to the government over a period of five years,” it added.

MyEG rebounds 24.77% after clarifying it is not part of MACC probe

PETALING JAYA: MyEG Services Bhd which was the most active counter at early trade, rose as much as 24.77% to RM1.41, after clarifying that it is not subject to the probe by the anti-graft body.

At 10.39am, the stock was trading at RM1.38 with 117.94million shares done.

The company told Bursa Malaysia on Friday that it had received a letter from the Malaysian Anti-Corruption Commission (MACC) confirming and clarifying that MyEG and its board of directors are not under the investigation and are not a party to the investigation leading to the charges against former Deputy Prime Minister Datuk Seri Ahmad Zahid Hamidi.

MyEG also said that it had no knowledge of Mastoro Kenny IT Consultant & Services, the company which was named in the charge sheets against Ahmad Zahid who held the portfolio of Home Ministry during his time in office—as gratifying him to secure MyEG projects.

The Bagan Datuk lawmaker faced 45 charges comprising of money laundering, criminal breach of trust and corruption.

MyEG, Datasonic heavily traded as markets resume

KUALA LUMPUR, Oct 22 — Shares in MyEG Berhad and Datasonic Group Berhad were actively traded in the morning session at Bursa Malaysia after both denied links to Datuk Seri Ahmad Zahid Hamidi’s corruption charges last week. At 9.36am, MyEG…

Bursa opens lower on cautious sentiment

KUALA LUMPUR, Oct 22 — Share prices were in the red on Bursa Malaysia in early trade this morning, on weaker demand, and amid the cautious sentiment clouding the market. At 9.10am, the benchmark FTSE Bursa Malaysia KLCI…

Success: The Insight Story – Dani Michaux

KPMG head of Aspac (Asia Pacific) Cyber Security & Information Technology Advisory in Malaysia Dani Michaux (pix) gives SunBiz access to her thought and views

How has your life experience made you the leader you are today?

Challenges and keeping optimistic during difficult moments are always key to be successful. Take every challenge as an opportunity – make a difference and look at the challenge through different prisms. Dream big, aim to encounter difficult moments, own the challenge and have conviction that nothing is given to you that you can't deal with.

What traits do you look for in your talent or how do you decide who is right for a job?

Having the right attitude, being hungry to learn and having conviction.

How do you think the industry you are in will evolve in the future?

Based on my observations, digital innovation can create significant value across business models, customer experience and operations. But greater connectivity brings increasing cyber vulnerability. KPMG's 2018 Global CEO Outlook report found that about half of CEOs (49%) around the world say that a cyberattack is now a case of 'when', instead of 'if'. A similar percentage (51%) believe they are well-prepared for a cyberattack, which leaves a large pool who are not.

We've seen the damaging impacts of cyberattacks in the May 2017 WannaCry ransomware attack, which not only infected businesses but also core infrastructure like hospitals and schools. Today, cybercrime has become an established ecosystem with its own economy (read: cybercrime-as-a-service, DDoS on demand, hacktivism). The evolution of cybercrimes has resulted in cyber security becoming a mandatory boardroom topic, particularly as governments and regulatory bodies increase their scrutiny.

Smart leaders are making cyber preparedness a board priority, stress-testing the resilience of their systems and people to withstand an attack. Businesses are also looking for a competitive edge from this investment and the increased insight they get on their systems and data. Our clients look to the KPMG team of cyber professionals to guide them through the cyber landscape that is becoming more complex as technology gets more sophisticated, which we are ready to do!

We all know about the industrial revolution, are we in for a technological revolution? Your thoughts.

I think technological revolution is already here! For instance, robots have been trumping humans in warehouses for over a decade. Smaller, faster and more affordable than before, bots can quickly span warehouses the size of six football fields.

In recent years, the focus has also been around Robotics Process Automation (or RPA) particularly in functions like finance where processes are highly repeatable, regular and routine. RPA – which is a convergence of low-cost, easy-to-implement process automation, coupled with machine learning, data analytics, and cognitive innovations – is creating a new class of digital labour.

As technology becomes more sophisticated and customer expectations evolve to suit, it's becoming more obvious for businesses to integrate robotics and cognitive automation into their operations – if they don't, they will be at a disadvantage and could be obsolete in a flash. Contrary to popular opinion, KPMG's 2018 Global CEO Outlook survey found that 87% of Asean business leaders expect AI to create more jobs than it destroys.

What do you want to accomplish in the next five years?

I would like to groom more cyber security professionals from within Malaysia. There is certainly demand for talents; a survey by the Information System Audit and Control Association (ISACA) revealed that the global shortage of cyber security professionals would hit 2 million by 2019.

In Malaysia, there are currently about 7,000 cyber security professionals, but it is estimated that the country will require at least 10,000 by 2020.

KPMG has been addressing this talent gap issue through the inception of the annual KPMG Cyber Security Challenge in 2015, where undergraduates across Malaysia are invited to participate in a highly competitive competition that tests them on their cyber security skills and knowledge in reverse engineering steganography, cryptography, hacking and digital forensics.

We have also started the KPMG Cyber Academy which aims to develop cyber security skills for the future, from school children to Board of Director level.

On a more personal level, I hope to encourage more females to enter the cyber security industry.

I can count in one hand the number of female cyber security professionals there are in Malaysia. As an industry professional, a wife and mother, I fully believe women are capable of building rewarding careers in this industry. At KPMG, we believe in building an inclusive and supportive environment for women so they can have both a career and family. I'm a testament to that fact!

Best piece of advice you ever got on your career.

Keep going, stay hungry and weather the storms. Stay grounded and look at the legacy you want to leave behind.

Most admired business leader? Why?

Sir Richard Branson for his creativity and different thinking; Indra Nooyi for her positivity, commitment and perseverance; Steve Jobs and Bill Gates for innovation and creating the world we live in today.

What has been the biggest challenge faced? And what did you learn from it?

We face various challenges today – being a daughter, mother, wife, senior leader in the organisation. We face daily challenges and we keep learning.

What I have learnt through various interactions is that we need to collaborate and communicate better. Every problem can be resolved if people are committed and come together to find a solution. Inclusivity, collaboration and perseverance are keys to success!

What man-made innovation confounds you? Why?

Social media. Personally, I don't have any Facebook, Twitter or Instagram accounts. I don't understand the compulsion of some people to reveal their minute-to-minute story online for everyone to see.

What are the top three factors you would attribute to your success?

Adrenalin, coffee and a supportive team! Keep hungry and get excited about possibilities.