Beijing Men : Handsome and Talented

- relevant to all ACCA undergraduates
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Pic 01: Beijing Finance District
Pic 02: Great Wall : Symbol of Chinese Culture that anything is possible!
Pic 03: Malaysia's very own brand in the most expensive district in Beijing


Unbelievable! My response. Beijing, the capital and political power hub of China is both rich with history and modern amenities. Its roads are straight, 5 lanes on one side, adorned with most facinating modern architectures. Passing the most expensive street, one can witness amazing mammoth buildings. Was told by locals that the rich and famous will shop in the most prestigious ginza - Parksons! Yes, locally listed albeit undervalued stocks in Malaysia.



Pic 04: Kasturi College's lecturers are proud to be associated with these hardworking students of China.

I have the priviledge to witness the award ceremony for Top Prize winners in China. Kasturi team of lecturers have done well. No, done superbly well! One student scored 100% for ACCA F4!That is WORLD PRIZE! Admittedly that is the first time I hear for a theory paper to have perfect score. In addition there were 3 top prize winners at CAT level.

Also witness newly minted Affliates. A random chat with few of them really offers insight. They are really industrious, dogged and relentless pursuit of excellence. Not only in studies but in career.



Pic 05: Handsome and dangerously armed



Refer to Picture 05 : the gentleman seated on the right doesn't look more than 30 years of age. He gave me his card which reads his position as Vice President of ICBC Bank, Beijing! How is that possible? Believe it! China is aplenty with opportunities. Once you gain international qualification which in this case is unmistakably ACCA Affliate status, you climb the corporate ladder. This tall gentleman, I reckon, didn't climb but took the lift to the top career floor!

The gentleman next to him, is another tall but gentle speaking guy. He is a senior manager for one of the local top largest merchant bank. Yes, another newly minted ACCA Affliate.

What is even more shocking is these men enquired about Chartered Financial Analyst (CFA of America), in Kasturi College. I obligingly promise to e-mail CFA Course Director details to them. There is no stopping these Chinese professionals!

Now, I don't know about you ACCA undergraduates, these guys could either be a threat or complement to you. If you graduate, you too can join their senior ranks. One does well to ask:

1. Are my college friends are really so important that they take most of my time, at the expense of studying for ACCA exams?
2. Are cafes, entertainment hotspots really that satisfying compared to a graduate with successful career? I was told that a qualified accountant earns a mean of RM7,000 a month! Now that is serious money.
3. For part time students to ask, "Is my current job really so precious and worthwhile devoting to, at the expense of my concentration on exams preparation?" Don't get me wrong, its good to achieve good career progress now but with ACCA , it will be a rocket booster.
4. Can part time students devote at least 3 hours a day for personal study for ACCA? For full time students, that should stretch to 8 hours a day in view that they are likely to take 3-4 subjects per sitting.


China : Threat or Opportunity?
China is a threat to the unprepared. To illustrate, a mid size city Tianjin, near to Beijing, has attracted more FDI that what Malaysia as a 'country'! Mind you, the investment Malaysia gets are oil & gas related or agriculture fields whereas Tianjin is on buiding the 5th largest and busiest port in the world and high value added manufacturing.

Dr Mahathir, former Prime Minister, said that China is not a threat to Malaysia. This country can't even compete with Thailand!

A serious threat to workforce, you! If you don't equip yourself with world class education, ACCA, you will be left behind together with Malaysia!

But if you are willing to work for it like the men above, China and ASEAN becomes a melting pot of opportunity. Destiny is in your hands! Are you willing to make sacrifices now for a better tomorrow? Or is the mundane time with friends, window shopping and fleeting movie going more interesting?

Convert threats to renewed energy
Join these professionals! Like them who struggle, work endless hours in studying, tirelessly, so should you. Do it for your (future) spouse, (future) kids, parents and for YOURSELF.

Reading the book by Jim Collins titled From Good to Great, it emphasises successful firms are dominated by highly disciplined managers who have passion for their occupation.

By application, have passion to build your future! Its yours. I must say all lecturers in Kasturi College are highly experienced and skilled in delivery. Dare I say, have the competence to guide you to success. But its with the condition that you will work hard together with them.

Graduate, then what?
Well, the world is your oyster, Join these handsome and talented Beijing ACCA Affliates to build a better and brighter future. Join the over 1000 affliates that are churned out in Malaysia each year.

AUDIT REPORT 2008 : CB Industrial Product Holding Berhad

- RELEVANT TO F8 (AA), identifying the components of an AUdit Report.

Independent Auditors’ Report
to the Members of CB Industrial Product Holding Berhad

Report on the Financial Statements
We have audited the financial statements of CB Industrial Product Holding Berhad, which comprise the balance sheets as at 31
December 2008, and the income statements, statements of changes in equity and cash flow statements for the financial year
then ended, and a summary of significant accounting policies and other explanatory notes, as set out on pages 35 to 80.

Directors’ Responsibility for the Financial Statements
The directors of the Company are responsible for the preparation and fair presentation of these financial statements in
accordance with Financial Reporting Standards and the Companies Act 1965 in Malaysia. This responsibility includes designing,
implementing and maintaining internal control relevant to the preparation and fair presentation of financial statements that
are free from material misstatement, whether due to fraud or error, selecting and applying appropriate policies, and making
accounting estimates that are reasonable in the circumstances.

Auditors’ Responsibility
Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit
in accordance with approved standards on auditing in Malaysia. Those standards require that we comply with ethical
requirements and plan and perform the audit to obtain reasonable assurance whether the financial statements are free from
material misstatement.

(SCOPE PARAGRAPH)
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial
statements. The procedures selected depend on our judgment, including the assessment of risks of material misstatement of
the financial statements, whether due to fraud or error. In making those risk assessments, we consider internal control relevant
to the Company’s preparation and fair presentation of the financial statements in order to design audit procedures that are
appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s
internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness
of accounting estimates made by the directors, as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Opinion
In our opinion, the financial statements have been properly drawn up in accordance with Financial Reporting Standards and
the Companies Act 1965 in Malaysia so as to give a true and fair view of the financial position of the Group and of the Company
as of 31 December 2008 and of their financial performance and cash flows for the financial year then ended.

Report on Other Legal and Regulatory Requirements
In accordance with the requirements of the Companies Act 1965 in Malaysia, we also report the following:-
(a) In our opinion, the accounting and other records and the registers required by the Act to be kept by the Company
and its subsidiaries of which we have acted as auditors have been properly kept in accordance with the provisions of the Act;

(b) We have considered the financial statements and the auditors’ reports of the subsidiaries of which we have not
acted as auditors, which is indicated in Note 6 to the financial statements;

(c) We are satisfied that the financial statements of the subsidiaries that have been consolidated with the Company’s financial statements are in form and content appropriate and proper for the purposes of the preparation of the financial statements of the Group and we have received satisfactory information and explanations required by us for those purposes; and

(d) The audit reports on the financial statements of the subsidiaries did not contain any qualification or any adverse
comment made under Section 174(3) of the Act.

Other Matters
This report is made solely to the members of the Company, as a body, in accordance with Section 174 of the Companies
Act 1965 in Malaysia and for no other purpose. We do not assume responsibility to any other person for the content of this
report.

HORWATH LEE KOK WAI
Firm No : AF 1018 Approval No : 2760/06/10 (J)
Chartered Accountants Partner
Kuala Lumpur
27 April 2009

ADDRESS
Horwath
Chartered Accountants
Level 16 Tower C
Megan Avenue II
12 Jalan Yap Kwan Seng
50450 Kuala Lumpur
Telephone No : 03-2166 0000
Facsimile No : 03-2166 1000

European Flights crisis - An opportunity!

- related to CAT/ACCA undergraduates
- related to ACCA graduates upgrading to CFA (Chartered Financial Analysts)

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Pictures (from Left to right)
01: Volcanic eruption gives blur skies
02: This is the BEST relaxing holiday, ever
03: European Pilot: I have time off now, would you have dinner with me?
04: Air Asia Pilot: I can take you to greater heights.

LEPEST affects every firm and individual
Aeronautical industry is most vulnerable to LE PEST factors. Currently, Europe has to suspend flights due to ecological volcanic eruption and disruptions. Really, all firms and individuals are not immune to external threats which can be opportunities too.

For ACCA, CAT and CFA students, there is a threat of ever increasing tuition fees, but this could also be an opportunity! How?

As to common knowledge (I hope) Kasturi College in both PJ and KL charges a fee which is substantially LOWER than other tuition providers - a whopping 50%. (For Location please visit : LOCATION) Do a simple Math, it saves students thousands of ringgit to do CAT, ACCA and CFA (Chartered Financial Analysis).

In fact, Kasturi will soon offer Limited Scholarship Awards with cheque payable in student's name, who then can CELEBRATE with their family. (coming soon...)

KASTURI LECTURERS ACHIEVEMENTS IN 2009
The point is students still graduate! In fact, Kasturi team of lecturers are indeed award winning team generating prize winners such as in 2009:

= WORLD PRIZE - F4 (Law) where student scored 100%!
= TOP MALAYSIAN PRIZE - F8 (Audit & Assurance), a dreaded paper by many, many students but hey, my very ordinary student can score, I only need you to pass.
= TOP CHINA PRIZES for 3 subjects in CAT Level.

I have honor to attend the Beijing ACCA Award Ceremony this weekend to witness our hardworking students to receive the awards.

AIRLINES are BLEEDING but not all
Below is a report on airlines losing US$300 million A DAY (yes, its three hundred million dollars in US currency), yet Air Asia opportunistically offer to any passengers stranded in Asia en route to Europe to take "any flight" with it and pay a ticket fee of RM99 (US$30).

Passengers offer a choice, just like ACCA, CAT and CFA students are offered an affordable alternative in Kasturi to deflate the threat of very costly tuition providers.

Kasturi is a no-frills operator like Air-Asia but it gets the job done - graduate. Year 2009 is a sterling example of students achievement! With low overheads cost, the savings are passed to you in form of affordable fees.

A tagline familiar to many, in "Kasturi, now everyone can graduate!"

Cheers. May you decide for your own future.



REPORT - AERONAUTICAL CRISIS SMELLS of OPPORTUNITY

European airspace that was closed by the volcanic eruption in Iceland will reopen to flights today after transport ministers said planes could fly through thinner parts of the ash plume.

Operations in areas where dust is detected will be assessed by the U.K.’s Volcanic Ash Advisory Centre, which will also determine which zones are entirely safe and which should remain closed because of the potential threat to aircraft engines. A new ash cloud headed for the U.K. means London’s airports may not be able to open, National Air Traffic Services said.

With planes out of position and airlines concentrating on repatriating stranded passengers, the restoration of full timetables may take six days, according to the International Air Transport Association. The flight ban introduced after the Eyjafjallajökull volcano erupted on April 14 has led to the cancellation of 81,000 flights and is costing carriers as much as $300 million a day in lost revenue, the industry group says.

“It’s a positive thing for the airlines, provided that it’s done in such a way that safety is maintained,” said John Strickland, an analyst at JLS Consulting Ltd. in London. “But it’s a long way short of any semblance of normal operations.”

Following the agreement by European Union transport ministers yesterday, British Airways Plc, the largest carrier between London and New York, said it would restart operations from Heathrow at 7 p.m. this evening. That plan is now under review after news of the fresh ash cloud, Richard Goodfellow, a spokesman for the company, said in an interview last night.

‘Situation Worsening’

“The volcano eruption in Iceland has strengthened and a new ash cloud is spreading south and east towards the U.K.,” NATS, Britain’s flight-control authority, said in a statement. “The situation is worsening in some areas.”

The ash represents a threat to jetliners because it could stop their engines by melting and congealing in turbines.

French airspace, which falls under the restricted or “precautionary” zone, will be open today, subject to ongoing evaluation of the conditions, French Environment Minister Jean- Louis Borloo said after a cabinet meeting yesterday.

Still, no more than 20 percent of scheduled flights will operate as services are limited to approved air corridors, and the reopening of airports in Paris will be “gradual and controlled,” he said. Air France was already planning eight long-haul departures and 22 arrivals at terminals in the south and west of the country that aren’t affected by the ash cloud.

About 70 percent of European services remained grounded yesterday as the ash cloud stretched from Moscow almost as far as Canada, according to Brussels-based Eurocontrol, which oversees flight paths and drew up the new strategy.

Safe to Fly

The European Commission announced the three-zone system after carriers said their own trials showed it was safe to fly.

British Airways, which is losing 20 million pounds ($30 million) a day, said a test trip showed no deterioration in engine performance and produced no odors in the cabin. Flight recorders, structural checks and monitoring by engine maker Rolls-Royce Group Plc also revealed no impact from the dust.

Haraldur Eiriksson, a meteorologist at the Icelandic meteorological office, predicts little change in the ash pattern in Europe, at least through April 23.

Source:
Kenneth Wong, 2010, Bloomberg Business

ACCA is so tough. Really?

- related to all ACCA & CAT candidates
- Please rate this article at the bottom or feel free to insert your comments. Exercise ethical language, please.






Pic 01 & 02: Koreans won international admiration both in drama and corporate success. Its human nature to admire the successful.

Oh...ACCA studies are so difficult. I nearly (but don't please) want to give up. What is the problem here is not so much as difficult and (very true) tricky exam questions such as seen in F8 (Audit & Assurance). But the greatest enemy is really "SELF". You are your own worse enemy.

Korean History
Humans are capable of marvellous achievements. Think of it, Korea as an entire country obliterated by war. Splitting the country into North and South Korea in 1950's. Lives of loved ones lost, wealth destroyed, families permanently separated by political boundaries. In fact South Korea was POORER than Malaysia in 1970!






Pic 03: New Korean threat to Japanese automakers. Will you be to your rivals, one day?



Today, its an envy to the West and fear to the East. Japanese firms like Sony, Toyota and Sumimoto worry that they are systematically destroyed by the conglomerates or chaebols of South Korea in the likes of Hyundai and Samsung.

What is the lesson?
Human spirit. Sheer determination and sacrifice. Failures are viewed as learning curve to achieve success. Sweat! Sweat! Sweat!

Luck always favour the prepared
Don't be like some people who sees and comment successful people -professionals and entrepreneurs as 'Lucky!?' Famous movie quote of Mr Incredibles (Pixars Pictures), "Luck always favour the prepared." Preparedness implies hardwork.

Overcome your fears, poor habits, distractions and get down to business. Really, if 1,000 graduates are churned out each year in Malaysia, what is our excuse? These graduates are just like anyone of us - mere mortals.

Fear - A Good Thing!
Fear is a good thing if it moves you to action. Don't you fear you are unable to live on measely income, not given opportunities, exploited by others due to weak bargaining powers? if you do, that is good. And do something about it.

Be like the Koreans, relentless pursuit to self-improvements. The Japanese did it, so did the Hong Kongites, Singaporeans, Taiwanese, Karela (India), and now the Vietnamese, Chinese, Argentinians, Brazillians... need I continue? Millions worked and achieved success.

Encouragement
I encourage you to change and make sacrifices for your own future. Hope following reports will inspire you. The Koreans - yes its not only Bae Yong Jong is nice and handsome to look at, but he represents the epitome of NEVER GIVE UP!

Last words
So if ACCA is difficult, that is good news! It means not many are willing to work hard to pass. If one passes, less ACCA supply, increasing demand, higher income equilibrium. Yes, you are in the right course.

Cheers

REPORT


Pic 04: Corporate Muscles are developed through training

PERHAPS it is the result of being sandwiched between the imperial dynasties of China and Japan. It may have something to do with having a nuclear-armed hermit to the north. Whatever the reason, South Koreans nurture a deep sense of insecurity. That makes them good capitalists. So good, in fact, that if any rich country can claim to have done well in the recent global crisis, it is theirs. Last year, despite its dependence on exports and the collapse of world trade, South Korea’s economy grew faster than any other in the OECD.

South Korea’s remarkable resilience is partly down to clever economic management. The government provided lashings of stimulus. But it was not just domestic demand that kept the economy going. The export prowess of those peculiar corporate beasts, called the chaebol (see article), was also responsible.

In the years after the Asian financial crisis of 1997-98, these unwieldy conglomerates, known disparagingly as Korea Inc, were regarded as villains, because of their habits of crony capitalism. Their shabby corporate governance and their dominance of the economy were widely criticised. Since then, bosses have been jailed, transparency increased and corporate governance improved.

Since the global economic crisis they have been regarded as saviours in South Korea. Though the country’s exports slid, its biggest companies, such as Samsung Electronics and Hyundai Motors, gobbled up market share from competitors in Japan, Europe and America. Granted, they benefited from a cheap won. But they also made a fine job of selling things like electronics, chips and ships in fast-growing emerging markets to make up for some of the sales lost in the West. Samsung’s profits this year are forecast at a record $10 billion, and its sales at $130 billion, which would confirm its lead over Hewlett-Packard as the world’s biggest technology company by revenue.
BlackBerry and Apple crumble

The national paranoia has served them well. Though Samsung, for example, is a world leader in televisions and flash memory chips, it continues relentlessly to measure itself against its competitors. Having rebuilt their balance-sheets over the past decade, the chaebol have invested enough in technology, design and branding to remain far ahead of low-cost competitors in China and elsewhere. What’s more, they artfully avoided Japan’s trap of fetishising expensive, state-of-the-art technology for its own sake.

So the chaebol are certainly due an apology from those, including this newspaper, who thought they would be too unwieldy for modern business. But from South Korea’s point of view, they are a narrow base on which to build a country’s economic future. First, they face competition in new forms for which their hierarchical management structures and complicated, dynastic ownership are ill suited. Apple’s iPhone and the ubiquitous BlackBerry crept up on Samsung Electronics, exposing its shortcoming in smart-phones.

Second, the size and strength of the chaebol risk stifling entrepreneurialism elsewhere. By and large, their local suppliers are the only medium-sized South Korean companies to have thrived in recent years. Some young businesses such as internet search and gaming have done well, but these are in fields where the chaebol cannot yet be bothered to tread. If they ever do, they may smother rather than nurture independent talent.

President Lee Myung-bak still seems to be promoting the chaebol. He has just pardoned Lee Kun-hee, the boss of Samsung, who was convicted of tax evasion in 2008, enabling him to retake the reins of Samsung Electronics. The president has also successfully championed his chaebol chums in a contest to provide nuclear power to Abu Dhabi. And his government wants to relax holding-company laws that would make it easier for the conglomerates to own financial firms.

It is one thing to provide leadership. It is another to choose favourites and pick winners. If President Lee wants to promote anyone, it should be South Korea’s underdogs—the small companies that risk getting squashed by the country’s privileged monsters. The chaebol have proved themselves highly successful capitalists. Let them take care of themselves.

Source: The Economists (2010)

TWO Ladies millionaires looking for Husbands

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Two millionaires take out ads looking for Singapore husbands

























- relevant to all Male ACCA Candidates
Left to right:
Pic 1 : Bye Honey. Bring home the bacon, OK?
Pic 2 : How do you like my new outfit, honey?
Pic 3 : High job satisafaction. Keep home HIN1-free. Oh... she will be so pleased (smiles)


This is a reality - women are talented, intelligent and dominating the world of Finance and business. If the trend continues, LADIES ACCA GRADUATES will be the majority, then they control finances and indirectly family matters especially cashflow, budgeting, KPI set for husbands. Look at the report below. Now women are "buying" husband.

Well. to all MALE ACCA under-graduates, you are offered TWO options:

Option A : I will graduate and build career/business and be successful or more than ladies. I should control my own destiny.

Option B: Marry one! Be a house-husband - good dedicated, apron dressed, biceps trained carrying your kids and honed skills in cooking.

Don't get me wrong, both options are ethically Ok Ok...(ha ha)

THE CHOICE IS YOURS.

Cheers.


NEWS

TWO female millionaires - one from Thailand and the other from China - have advertised in Singapore's Lianhe Wanbao looking for Singaporean husbands, reported Sin Chew Daily.

Rao Gui Zhen, 46, from Thailand said she hoped to find a husband who was trustworthy and able to work hard with her in her wholesale business.

The daily said Rao, a divorcee who earned more than RM100,000 (S$43,510) a month, had a 23-year-old son but that he was not interested in taking over her business.

Businesswoman Wang Xu, 46, from Dalian said that although she had many admirers at home, she did not think they were suitable for her.

"I have been to Singapore twice and I really hope to find a partner here as Singaporean men can speak Mandarin," she said, adding that her fashion business could earn up to RM500,000 a year during good times.

Source:
Wed,
The Star/Asia News Network, 2010, Two millionaires take out ads looking for Singapore husbands, Apr 07,