"It's the economy, stupid" (Bill Clinton, 1994)

- Neutral view on politics 
- Deep view on business networking

Dear Readers,

Ex-president of USA Bill Clinton has said the above caption. How did Malaysia's Prime Minister do in this regard? Well, he has been busy networking in business and obtain approved billions of investments including from China into the country. It works and resonates well with the people.



Today, had a nice chat with an Indonesian Professional who said that income was much better  in marketing rather than in administration department. How true! Even our Prime Minister knew and apply the importance of networking. In fact, Bill Gates, Robert Koyosaki guru and current USA President Donald Trump were purportedly saying that if they don't have the success now and having to re-do, they will be in network marketing. 

Visit this website and see for yourself:
https://www.youtube.com/watch?v=WVPvxu98xRs





Guess what? Everyone is in network marketing but many are doing it as a fixed income employee. When an employee 'sells' the company reputation to a client, recommending friends to apply job with the firm or negotiating with a supplier, that is networking.

Another note, when you go and apply for a job, how did you choose one? Wasn't it by friends, family, business contacts or Community , in short for FFBC?

How did you meet your girlfriend or got her as your wife? Wasn't it via networking with FFBC?

Read below article from seasoned political analyst who said that the Barisan Nasional is poised to win the next election. My view, it looks likely unless some scandals arise relating to religion, race or royalty arise.

Exams are coming. Continue practice out your exams regularly.

Best regards,
Marcus

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Tide has turned for Najib

From day one, the opposition coalition’s strategy of capturing Putrajaya was based solely on bringing down Najib rather than on building a narrative of what they had done and what they could offer.
But they seriously underestimated Najib’s survival instincts and the strategy has gone down the drain. Having failed to dislodge Najib, they are now grasping for a new storyline that, unfortunately, resembles a fairy tale.




Stepping down is the last thing on Najib’s mind. Najib is preparing to go the distance, he has started to go on the attack mode and has switched up the we-can-win rhetoric.

There has been an unmistakable turn-around in his political fortunes over the course of the last year. Some think it began after his productive trip to China where the Chinese leaders welcomed him like an old friend and he returned with an armful of investments.








EPU Minister Datuk Rahman Dahlan (see pic above) said Najib often tells his ministers that the strength of the government is not just about domestic policies, it is also about strategic relations with big nations.
“He likes to say that we cannot be isolated, we need to network, to position ourselves as a trading nation and that’s where Barisan has the edge and standing,” said Rahman.

On the political side, Najib gained a solid footing after a successful Umno general assembly. Everyone could see how the party, especially the three wings, rallied around him.

Najib’s tenacity in fighting off Tun Dr Mahathir Mohamad, said Rahman, went a long way in earning him the respect of his party. The myth that Dr Mahathir is invincible has been debunked.

Rahman said the former Premier’s mistake was to misread the mood and thinking of Umno members.
“When he criticised Pak Lah (Tun Abdullah Ahmad Badawi), we lost several states as well as our two-thirds majority. Then he started going for Najib, but people were already fed-up. They wanted Najib to sort out the 1MDB issue but they did not want another crisis. They didn’t want to repeat the mistake of 2008,” said the EPU Minister.

Rahman said the other flaw in Dr Mahathir’s strategy is expecting the Malays to go along with him in a coalition dominated by DAP.

In hindsight, the RUU355 also turned out to be one of those things that happened for a reason. The government’s decision not to take over the RUU355 accomplished more than just resolving an issue that had divided the nation.

It sent the signal that Barisan Nasional is a coalition of consensus, that the partners although unequal in strength had equal say in this critical matter. It was a test of the ruling coalition’s bond.
It has been a while since Barisan has been this confident in facing the general election.

Perak Mentri Besar Datuk Seri Dr Zambry Abdul Kadir has started using the slogan, “retain and regain”, which will be one of the rallying calls in the general election. They intend to hold on to what they have and win back seats lost in 2013.

Reports from those who have attended the Umno political retreats in the party’s Janda Baik centre said Barisan is poised to win 128 seats but the target is somewhere in the 140-seat zone.
“Najib has steered the economy through a rough patch, he is seen as governing. There are problems to be solved but we are not a failed economy,” said a political insider.

For instance, the Malaysian Indian Blueprint that was launched last week is a pivotal signal of his government’s commitment to the Indian community.

It is true that in the past, leaders made promises that were not kept but this document will hold the government accountable and form the basis for policies targeted at the community.

Barisan’s first confidence boost came from the landslide victory in the Sarawak election last year. This was followed by the Kuala Kangsar and Sungai Besar by-elections where the margins of win surprised even the Barisan leaders.

The exit of Umno big-guns Tan Sri Muhyiddin Yassin and Datuk Seri Shafie Apdal in mid-2016 shook the party, but by the time the party convened for its annual general assembly, it was clear that their departure had actually pulled the party together rather than apart.

Moreover, the party could not accept the fact that their former leaders had joined forces with DAP and the line of “us versus them” was drawn in the sand.

For a while too, Shafie’s potential impact in Sabah was a source of concern. Hence the rumblings for an early state election in Sabah which has now petered out.

“Discussions about a separate state election in Sabah has died down. I think it means the PM is confident Sabah will come along with Barisan,” said Rahman.

At the same time, Pakatan Harapan has also stopped boasting about capturing Johor. Without PAS on its side, Pakatan will struggle to capture the Malay seats that it needs in order to win Johor. Pakatan’s priority now is to hold on to Selangor and Penang.

For much of last year, Pakatan supporters used social media to paint a picture that the Johor palace had problems with Najib. Instead, it is Dr Mahathir whom the Johor Sultan has problems with.
The significance of states like Sarawak, Sabah and Johor is that they have to fall before Pakatan can capture Putrajaya and the signs are that these three big ones are still with Barisan.

In politics, a party’s strength is also a result of how strong or weak the opponent is. Pakatan’s hopes of taking Putrajaya were crushed the day PAS was thrown out of the coalition. PAS’ strength lies in having a core support and the moral authority it commands among many Malay voters.

Najib played his cards well in befriending PAS in its moment of need. Who can forget all those solicitous hospital visits to PAS leaders when they were ill?

Malay leaders are very much into the practice of ziarah, visiting the sick, infirm and elderly – it is encouraged in Islam and it has become a part of the Malay culture. But when the Prime Minister makes a high-profile visit to a PAS leader in hospital, it is also very much about politics.
Of late, the two parties have been singing the same song but with different lyrics.

Datuk Seri Hadi Awang said in an interview with Mingguan Malaysia that the Malays should vote for a party that defends Islam and that means either PAS or Umno. A couple of days later, Najib told an audience in Terengganu to reject an Opposition that does not want to see the development of Islam.
But those who imagine PAS and Umno have an electoral pact going on, had better think again. The two parties will be going head-to-head in the Malay crescent states of Terengganu, Kelantan and Kedah.

It is no secret that Barisan is closely watching Terengganu and Kedah which have a reputation as swing states. However, Rahman said Najib was upbeat after spending the weekend in Terengganu.
“He has been there so many times, but he told us there was something genuine and special in the air, he could feel the warmth and eagerness,” said Rahman.

According to Deputy Foreign Minister Datuk Seri Reezal Naina Merican, global events have also enabled Malaysians to view politics and policies in a more balanced light.

Opposition supporters had demanded that Najib step down after his coalition won only 47% of the popular vote in 2013. They look at America and they can now see that one can lose the popular vote by more than two million and yet move into the White House.

In India, Prime Minister Narendra Modi is planning to implement GST on an even wider scale than Malaysia. India’s GST ranges from 5% for items such as cooking oil to 12% for processed goods and 28% for luxury items.

Over in Jakarta, the Christian-Chinese candidate popularly known as Ahok lost in his bid for the Governor’s post. The racial and religious overtones that led to his defeat sent out chilling signals.
All this is happening as Malaysia prepares to press the political reset button.

The tide has turned, and Najib is in a bullish mood. The man who was born with a silver spoon in his mouth, has had to fight hard to stay on top and he is now on attack mode.


Source: Jocelyn Tan, 2017, The Tide Has Turned, http://www.thestar.com.my/opinion/columnists/analysis/2017/04/30/tide-has-turned-for-najib/, 30 April

Are marriages happier when women control the money?

Disclaimer of Liabilities: Articles are uploaded in the spirit of humour and motivation. Please don't personalised it to extent that is detrimental to your mental health. But take to heart the lessons from the world around us and learn the good factors to improve our character. 

Dear Hardworking ACCA men,

The world is becoming complex. It was complex a long time ago where women rules the world in a certain society in India. Alert! Such practice can spread with the author Jo Piazza best selling book. Many parents or mothers might be thinking to let the women wear the pants, so to speak. 

 

To prove yourself as men useful, invest lots into your qualification and experience. Hone skills to add value to enterprise and ultimately your self. 


Please read and may this NOT HAPPEN to you. If it does, well Jo Piazza may have another sequel book.
Remember, to succeed one must be focused and disciplined. Exams are round the corner, minimise idle time but invest in contructive time sharperning Exam Techniques. 

Best regards,
Entrepreneurial approach to life - Marcus


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Jo Piazza is the author of the new book How To Be Married in which she crowdsourced marriage advice from around the world in an effort to figure out how to have a successful partnership. This is an excerpt from her travel memoir. 

I would have missed out on one of the most interesting models for marriage and partnership in India if I hadn’t started talking marriage with this tuk-tuk driver outside the Kamakhya temple in Guwahati, India.

“You can’t leave without going to Meghalaya,” he insisted. At this point I was used to being told I couldn’t leave India without seeing at least one thing, be it the Taj Mahal or the new Taco Bell in Delhi.

“What’s special in Meghalaya?”

“It’s the place where the women are in charge. They’re the heads of the family,” he explained. It was all he had to say. I changed my plans.

That’s how I ended up in Shillong, the capital of the northeastern state of Meghalaya, so close to the border with Bangladesh that the two cultures spill into each other.

Author Jo Piazza crowdsourced marriage advice in India. (Jo Piazza)

The Khasi and Jaintia hill tribes of Meghalaya are matrilineal. Property and assets are passed down through the youngest daughter in a family. All of the children take the mother’s name instead of the father’s. The husband moves into his wife’s home, often bringing with him just a single suitcase of his things—a few changes of clothes, maybe his guitar or his cricket bat. It’s the women who run the households and are largely in control of the finances and the major financial decisions. The men work, but they often hand their money over to their wives.

Meghalayan tribes have been matrilineal as long as anyone who lives there remembers, since long before the British came, back when all of what we now call India was just a medley of tribes linked by geography. No one could tell me for certain where the matrilineal tradition originated. It’s as old as the oldest stories they talk about.

I’d traveled to more than thirty countries in the past two years and never been anywhere, including the States, where women were institutionally favored above men.

The way the women in Meghalaya control the money and the property made me think of my own marriage and the dynamic between money and power. When Nick and I first met, I earned the higher salary, which made me feel like I had the right to manage our finances and make major decisions.
I drove into the bustling capital, where I was supposed to meet up with a translator named Sukher, a petite, soft-spoken, and meek man in his twenties. His shoulders curled into his body in a way that made him take up even less space.

“Of course the men just accept that the women have power here. That’s just the way it is,” he told me very matter-of-factly in a voice as low as a whisper. “It’s important to listen to my wife. She makes good decisions.” His wife is the second daughter in the family, but not the youngest. This means that she doesn’t stand to inherit any of the family’s property. I kept asking why it was the youngest and not the eldest daughter who inherited. The answer makes a lot of sense. The youngest daughter will be around the longest, so she’ll be able to use the family property and money to take care of her parents and then the older siblings as they age.

Sukher had recently moved into his wife’s ancestral home in a neighboring village called Mawlynnong and he commuted into Shillong each day to work as a translator and tour guide. He and his wife had been arguing because Sukher wanted to move closer to the city to make his commute for work easier, but his wife was adamant about not leaving their village. In the end, she won.

Sukher dutifully led me into Shillong’s Khasi market, which was tucked down a dank, narrow alleyway, past a series of winding side streets, dark tea shops, and counters for placing bets on professional archery. They love professional archery in Shillong, and skilled archers are the equivalent of NFL football players in the United States or soccer stars in Europe. The Khasi market is a series of never-ending stalls where the women sell everything from betel nuts and banana leaves to tobacco and fancy dresses for less than five American dollars. Elsewhere in India the men control the markets, but here the women do the buying and the selling. The only men I saw sat quietly in the backs of the shops, sometimes making change, feeding a baby, or running an errand for their female boss.

The women of Meghalaya in India control the money and property. (Jo Piazza)

I struck up a conversation with a young woman from the Jaintia tribe named Daphi, the proprietor of a small dress shop. The shop had been passed down through the women of her family for three generations. A photograph of her deceased mother hung above the counter, gazing down at her daughter with pride. Her mother’s younger sister owned the dress shop across the way, and they teased one another about which stall had the prettier dresses and better deals.

“My mother made all of the decisions for our family herself,” Daphi told me. “When I get married, I will be the one to make the big decisions. This is just the way our culture is.” Daphi was the youngest daughter in a family of two girls, which meant that ownership of the store went to her when her mother passed. “It’s a lot of responsibility,” she explained. “But I hope to find a husband to share it with me.”

“To share it with me” was an interesting choice of words. I asked Daphi if she thought that being the owner of her shop would present problems in her future relationship.

“I don’t think so. I think that I will always consult my husband and we will have discussions about all of our decisions. I saw my mother do that and my female relatives do that. We involve the men. Why wouldn’t we?”

I thanked Daphi for being so honest and bought two colorful Indian nightgowns from her and one fancy child’s dress from her aunt across the street.

Down the alleyway I ran into a woman named Diana standing barefoot in front of tall bins of betel nuts, wearing the traditional Khasi checked kyrshah, or apron. Her hair was pulled back in a tight ponytail revealing a high, regal forehead.

She told me she was forty-two years old and that she’d been married for more than twenty years. She and her husband had three boys. She’d love to have a girl who could inherit, but she was too tired to keep trying. Instead, her sons would be the heirs when she and her husband passed away.
Diana laughed when I asked about the merits of living in a matrilineal society.

“This is the best place in the world to live. In other places it is hard to be a woman,” she told me, her positive pride in her culture evident in her thrown-back shoulders and expanded chest.

“We are a very special people, you know.” Her eyes danced with mischief. “Obviously it’s the women who have the power. Doesn’t that make sense?” she said and smiled, flecks of betel nut caught in her teeth. “I never do anything at home. My husband does the cooking, the cleaning, everything. But he does that because he likes to do that. You have to have an understanding in marriage. Marriage is a compromise. If he needs help, then I help him.” She leaned in close to me. “You have to give the men some understanding. You work hard to understand each other, but the men, they need it more.”

The Khasi and Jaintia women control the money and the property, and yet every woman I met talked about understanding and compromise. They told me it wasn’t their place to force their husband to do things. They stressed that no matter who controls a family’s wealth, the most important thing in a marriage is an understanding of equality between the two partners, compromise.

 Source:

Jo Piazza, 2017, Are marriages happier when women control the money?, https://moneyish.com/heart/are-marriages-happier-when-women-control-the-money/,  2017

CONGRATULATIONS! Oxford Br University - Earning FIRST CLASS (HONOURS) with GRADE A

CONGRATULATIONS!

You all have proven that great talents you are!








To work Full Time and to earn a prestigious University Degree on part time basis is indeed a remarkable achievement.

What more, to earn FIRST CLASS and GRADE A for top quality dissertation research projects makes all proud of you.

Keep up the fine fight and NEVER GIVE UP! NEVER!

LADIES, BEWARE OF HANDSOME MEN!

 - strongly related to P7 AAA and abtractly in F8 and P1, Examiner's FAVOURITE Topic

BEST TIP for Studies: Believe in yourself!

Over 20 years of lecturing and other ventures* [see footnote, please]. That is an exciting journey to help and support so many ACCA under-graduates to succeed.

Enjoy my classes, I always have. You may recall in my class about the Forensic Audit Investigation that the evidences compiled are so strong that they are admissable in court.

A dashing Handsome man courted a single mom of 2 kids. He is irresistible with a catchy contagious smile. To add to his swerveness, he is a Grand Prix racer and respectable middle class family background.

The woman fell heads over heels for such a dream man. But this is to her detriment - her 'accidental' death. A perfect murder as the dashing man stands to collect an insurance premium worth RM16.5 million at present value.

When a love story is too good to be true, it usually is.

See article below and enjoy the Forensic investigation evidences. Do you see there are at least 7 evidences submitted to court that delivers a death sentence verdict on [cruel heartless] dashing man!

Lesson learnt: Don't trust [handsome] men, but yourself! Especially when they ask you out and skip ACCA classes!

Cheers.

Exclaimer of liability: The articles are written in fun, humourous style with no intention to target any individuals. The objective however is to MOTIVATE my students to NEVER GIVE UP in their quest to succeed in career/business.

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Sunny Ang and 'the perfect murder'

It appeared to be the perfect murder - there were no witnesses, and there was not even a body.
Yet, one-time Grand Prix driver Sunny Ang was sentenced to hang for killing his barmaid girlfriend, Ms Jenny Cheok.

Pic 01: Sunny Ang charged with the Perfect Murder

One of Singapore's most sensational murder cases, it marked the first time the prosecution had won a case that was based entirely on circumstantial evidence.

Ang was one of the last murderers to be sent to the gallows by a jury; Singapore abolished jury trials in 1969.

This week in 1965, the preliminary inquiry for the case was heard, and the court was told that Ang stood to gain some $400,000 from the death of his girlfriend.

Pic 02: Victim Jenny Cheok, 22, a single mother of 2

They had met in 1963 at the bar where she worked. She was 22 and he, 24.

Ang came from a middle-class background and had been selected to train as a pilot under a government scholarship programme, but his poor conduct during training cost him that dream.

Pic 03: Handsome but deadly

He took part in the 1961 Grand Prix, but landed in trouble later for killing a pedestrian through negligent driving, and attempted burglary. He was also declared a bankrupt.

Ms Cheok was a single mother of two who had not finished primary school.

On Aug 27, 1963, the couple went on a diving trip near Sisters' Islands and Ms Cheok disappeared.
Her body was never found.

Pic 04: No remorse face

All that was left was a single flipper she had worn, and its heel strap was found to have been severed cleanly at the top and bottom, likely by a knife or razor blade.

An expert witness would tell Ang's trial that the loss of the flipper would have resulted in a diver's loss of equilibrium and affected the person's mobility.

As an inexperienced diver, Ms Cheok would have panicked and drowned in the strong currents.
Ang, a skilled diver, stood to gain from the payouts of insurance policies he had begun buying for her two months before the dive trip.

He also had a will drawn up in which she left her entire estate to his mother.

In one piece of circumstantial evidence, it was revealed that an insurance policy worth about $150,000 had expired on the day before the diving trip, but Ang extended it just three hours before they got on the boat.

When Ms Cheok failed to surface after her dive, Ang did not seem worried and did not enter the water to look for her.

Within 24 hours, he tried to make full insurance claims.

Pic 05: Witness Ms Aryes Soh testified that Sunny Ang didn't go in search for his girlfriend in the waters

In May 1965, Ang was sentenced to hang after the jury turned in a unanimous guilty verdict.
The prosecution was led by Mr Francis Seow, who went on to become solicitor-general and an opposition politician.

Ang was defended by Mr Punch Coomaraswamy, who later became a high court judge and diplomat.
Ang failed in his appeal and plea for clemency, and was hanged on Feb 6, 1967.

SOURCE: AsiOne, 2015,Sunny Ang and 'the perfect murder',  http://news.asiaone.com/news/singapore/sunny-ang-and-perfect-murder, February 24

 P7AAA Exam style questions: 

a) What are the matters to consider when evaluating with client to perform Forensic Audit? [12]
b) Explain the audit procedures on compiling the evidences for client use. [6]
c) Explain the contents of Forensic Audit. [3]
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* Expert in Business analysis I am, also venturing into other businesses. One that is LOW risks and HIGH returns. If you are up to it, then send me an email at marcus_ong88@hotmail to explore if you like additional income of RM15,000 and above.

Warning: Not for the weak hearted but the determined spirited person.

Heartiest Congratulations UK University Graduates!

- relevant to ambitious ACCA undergraduates

Heartiest Congratulations!  

SUCCESSFUL Degree Holders of UK University. I am glad that my students passed well. Even getting Grade B, 2nd Class Honours, while working full time and having to balance with family responsibilities. Amazing rare talents you all are.


 
Pic 01: Oxford Brookes University - Top Ranking University in UK.
Oxford Brookes University was ranked 54th highest in UK in 2016 as apposed to Malaysian Universities which were ranked Top 1000 or reads as Top ONE THOUSAND Universities ranking! 

Click HERE for Oxford Br. University ranking.

Aim to complete your F-Level ACCA and do this prestigious degree. You can email your enquiries  to me : marcus_ong88@hotmail.com

How are Malaysian Universities fare in World Ranking?

7 Malaysian varsities make it into THE rankings

Pic 02: Substance (ranking) over form. UTP shocking low ranking.


Seven Malaysian universities have made it into the latest Times Higher Education (THE) World University Rankings.

Universiti Teknologi Petronas (UTM) and Universiti Utara Malaysia (UUM) have made the list for the first time, in the 601-800 and 801+ bands respectively.

Universiti Kebangsaan Malaysia (UKM), Universiti Putra Malaysia (UPM) and Universiti Sains Malaysia (USM) maintained their 2015 rankings (601-800 band).

However, Universiti Teknologi Malaysia and Universiti Teknologi Mara dropped in ranking from the 401-500 band in the 2015 rankings to the 601-800 band and from the 601-800 band last year to the 801+ band this year, respectively.

“Malaysia invests a huge amount in higher education and has marketed itself as a knowledge economy and innovation hub in recent years. However, the nation’s public universities have been hit by a 15 per cent budget cut this year, after the economy came under pressure from lower oil and commodity prices.

“Universiti Teknologi Mara, for example, that dropped to the 801+ band this year, faces a cut of over 23 per cent,” THE World University Rankings editor Phil Baty said in a statement.

“Malaysia must ensure that it continues to make higher education a priority if it is to succeed in its ambition to create world-class universities,” he added, according to a report in the Malay Mail.
But, Baty said, the star of the region was Singapore, which is home to Asia’s top university for the second year in a row. The National University of Singapore (NUS) is at 24th ― its highest ever rank.

NUS is joined by the 35-year-old Nanyang Technological University in 54th place, also its top ever position; the university has risen 120 places since 2011.

The top five universities in the list are University of Oxford, California Institute of Technology, Stanford University, University of Cambridge, and the Massachusetts Institute of Technology (MIT).
Twenty-one universities from Southeast Asia made this year’s THE rankings, up from 15 last year.

Source: 

http://www.freemalaysiatoday.com, 7 Malaysian varsities make it into THE rankings, http://www.freemalaysiatoday.com/category/nation/2016/09/22/7-malaysian-varsities-make-it-into-the-rankings/, Visited site on 22nd Sept, 2016

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Strategic Re-positoning: If you have a degree locally, consider getting a SECOND degree to improve your international career mobility where OECD Rich COuntries recognise such attainments.

Corporate Governance at PLAY: BP shareholders reject chief Bob Dudley's £14m pay deal

- relevant to F8, P1 and P7 

Corporate Governance is a critical hot topic. See how the CHECK AND BALANCE against Executive Directors powers are at play - real life. 

BP shareholders reject chief Bob Dudley's £14m pay deal

BP shareholders have rejected a pay package of almost £14m for chief executive Bob Dudley at the oil company's annual general meeting.

Just over 59% of investors rejected Mr Dudley's 20% increase, one of the largest rejections to date of a corporate pay deal in the UK.

The vote is non-binding on BP, but earlier, chairman Carl-Henric Svanberg promised to review future pay terms.

Mr Dudley received the rise despite BP's falling profits and job cuts.
Corporate governance adviser Manifest says the vote is at or above the fifth-largest in the UK against a boardroom remuneration deal.

'Last chance saloon'

In his opening address to the shareholders' meeting, before the vote had been formally announced, Mr Svanberg acknowledged the strength of feeling, saying: "Let me be clear. We hear you."
He continued: "We will sit down with our largest shareholders to make sure we understand their concerns and return to seek your support for a renewed policy."

"We know already from the proxies received and conversations with our institutional investors that there is real concern over the directors' pay in this challenging year for our shareholders.
"On remuneration, the shareholders' reactions are very strong. They are seeking change in the way we should approach this in the future," he said.

The Institute of Directors said the shareholder rebellion would "determine the future of corporate governance in the UK".

"British boards are now in the last chance saloon, if the will of shareholders in cases like this is ignored, it will only be a matter of time before the government introduces tougher regulations on executive pay," said director general Simon Walker.

Out of touch'

Shareholders that criticised the pay deals included Aberdeen Asset Management and Royal London Asset Management.

Investor group Sharesoc branded the pay deal "simply too high", while Glass Lewis, ShareSoc, Pirc and Institutional Shareholder Services have also expressed their opposition.

Earlier on Thursday, Ashley Hamilton Claxton, corporate governance manager at Royal London, told the BBC: "The executives received the maximum bonuses possible in a year when [BP] made a record loss, and to us that just does not translate into very good decision-making by the board.
"We think it sends the wrong message. It shows that the board is out of touch."

She told the BBC's Today programme that if 20%-25% of shareholders vote down the pay deal, it would force BP to "think long and hard about their decision".

The early voting figures suggest that the opposition is even bigger that she expected.

Analysis: Simon Jack, BBC business editor

Giving someone a 20% pay rise for a year's work that saw BP record its biggest ever operating loss seems perverse even by chief executive pay standards.
If it's any consolation, (I doubt it will be), bosses at Exxon and Chevron got paid even more than Bob Dudley even though the value of their companies fell by more than BP. That's the bit that sticks in the craw for many. Under what circumstances don't these guys get paid a fortune? It would be fine if some years you win, some years you lose - but they never seem to lose.
We may get a rebellion of 20-30% of shareholders today but even if it was more than 50%, the board doesn't have to listen. Shareholders do have a binding vote every three years on the pay policy and formula. No use crying now, the formula that spat out £14m for Bob Dudley was approved in 2014 by 96% of shareholders.

 Pic 1: New CEO after the BP's disaster in gulf. Does Bob deserve higher pay?

---

BP's pay policy is subject to a binding shareholder vote every three years. It was last set in 2014, meaning new proposals are due to be put forward for shareholder approval again in 2017.

'Surpassed expectations'

Many experts argue that Mr Dudley is merely earning the market rate for international executives.
Mark Freebairn, partner at recruitment firm Odgers Berndtson, told Today: "If Bob Dudley was to leave [BP] it would be for a competitive company and remuneration would be part of the discussion. If you operate in a global market, you have to operate on a global scale."

BP was now in a far better position than when Mr Dudley took the helm, he said.
After the Gulf of Mexico oil disaster, BP's share price collapsed and it was forced to sell off assets worth billions of pounds to pay costs, fines and compensation.












Pic2: Deepwater Horizon disaster that costs BP billions in repairs and compensation. 



However, the collapse in the oil price over the past 18 months saw BP's profit tumble, and the company is axing another 3,000 jobs worldwide on top of the 4,000 cuts already announced.
A spokesman for BP said before the meeting at London's ExCel centre had begun that shareholders had previously backed the pay formula.

"Despite the very challenging environment, BP's safety and operating performance was excellent throughout 2015... BP's performance surpassed the board's expectations on almost all of the measures that determine remuneration - and the outcome therefore reflects this.

"And these clear measures derive directly from BP's remuneration policy which was approved by shareholders at the 2014 AGM with over 96% of the vote," the spokesman said.

Mr Dudley's pay package was less than that earned by some rivals in the oil and gas industry, including at Exxon and Chevron. But it was more than the award for Ben van Beurden, chief executive at Royal Dutch Shell, whose salary package fell from €24.2m (£19m) in 2014 to €5.58m last year.

Experts point out, though, that it can be difficult to compare like-with-like. For instance, Mr van Beurden's 2014 pay involved one-off pension payments and "tax equalisation" measures when he moved from the UK to the Netherlands.

And in 2015 Mr Dudley and Mr van Beurden received very different rewards under their long-term incentive plans, LTIPs. Shell gave its chief executive 8% of the LTIP, down from 49% in 2014. Mr Dudley's long-term bonus increased from 63.8% of maximum to 77.6%.

Source:

http://www.bbc.com/, 2016, BP shareholders reject chief Bob Dudley's £14m pay deal , http://www.bbc.com/news/business-36040210, Visited on: 22nd Sept, 2016