Workers fancy sharing profits with employers

A survey finds that 85 per cent of respondents said that profit-sharing or an ownership stake would motivate them to perform better.

More than three-quarters of the Malaysian workforce believe they will be more productive if they have an ownership stake in their employers' business, according to the latest survey from workforce solution firm Kelly Services.

The Kelly Global Workforce Index (KGWI) found that 85 per cent of respondents said that profit-sharing or an ownership stake would motivate them to perform better.

The survey also revealed that slightly less than two-thirds of the respondents' pay is tied to performance targets.

Generation (Gen) Y (aged 18-29) and Gen X (aged 30-47) employees are much more likely to be on some form of performance-based pay than those in the Baby Boomer generation (aged 48-65).

"Many employees are actually quite comfortable about some element of their compensation being tied to their individual or group performance."

This indicates that many are confident in their ability to perform their jobs well and believe they can share in the rewards of improved workplace productivity," Kelly Malaysia managing director Melissa Norman said in a statement.

The KGWI study covered views from about 134,000 people, including almost 2,000 in Malaysia.

The annual survey found that of those not receiving performance pay in Malaysia, more than two-thirds said they would be more productive if they had their earnings linked to performance outcome.

It was found that industries with the highest rates of performance-based pay were government, travel/leisure and financial services.

"By providing a scheme where employees can share in profits, employers are providing a platform where employees can take charge of their own careers in terms of how much 'extra income' they can achieve via performance incentives or profit-sharing, and this is something that can produce a positive outcome for employers and employees alike," Norman said.

There is also strong support for employers to take a greater role in improving the health of their workforce, with almost three-quarters of respondents saying employers should provide incentives to encourage a healthier lifestyle such as quitting smoking, losing weight, or taking up exercise.

Besides salary, the benefit that rated most highly was training, followed by health benefits, flexible hours and retirement benefits.

Some 95 per cent of those surveyed said that health initiatives should be part of their employment package.

Under health benefit provided by employers, the most attractive was health insurance, followed by gym access or discounts, corporate exercise programmes and a smoke-free environment.

About 134,000 people from North America, Europe and Asia Pacific responded to the 2010 KGWI survey, with results published on a quarterly basis.

Hmm...if you ask me...I will give you the exact same answer as most of them :)

PNB: 6.35 sen dividend for ASW 2020

Amanah Saham Nasional Bhd (ASNB), awholly-owned subsidiary of Permodalan Nasional Berhad (PNB), today announced an income distribution of 6.35 sen per unit for Amanah Saham Wawasan 2020 (ASW2020) for the financial year ending Aug 31, 2010.

PNB chairman Tun Ahmad Sarji Abdul Hamid said the income distribution will involve a total payout of RM777.53 million, up 32.30 per cent, compared with the previous year's total payment of RM587.70 million.

He said 892,825 unitholders, who currently hold 13.1 billion ASW 2020 units,will benefit from the payout.

For the 11 months between Sept 6, 2009 and Aug 6, 2010, the fund received a total of 20,226 new account holders, while net investments received during theyear increased by 2.09 billion or 18.98 per cent, he told a media conference.

As of Aug 6, ASW 2020 recorded a gross income of RM887.05 million, profit from the sale of shares contributed RM454.57 million or 51.20 per cent, dividend income from investee companies totalled RM290.99 million or 32.80 per cent and RM141.49 million or 16 per cent is derived from investment in short-terminstruments and other income, he said. -- Bernama

How will the other nasional fund perform come next month or so? Wait and see...

Penang Botanic arches will finally go down tonight :)

The Penang Botanic Gardens arches will be demolished at 9pm tonight.

State Drainage and Irrigation Department director Anuar Yahya said the work will be carried out at night to avoid inconveniencing visitors, as the gardens were a public area.

Last week, Tourism Minister Datuk Seri Dr Ng Yen Yen said the arches would be demolished within a week.

There has been an outcry over the arches since May, after reports that one of them had tilted by 38cm.

The arches, costing RM150,000 to build and part of the gardens' RM7mil expansion project, have drawn criticism from various quarters.

Finally, for real the arches will go down tonight. So are you going there to witness this event later? I better stay at home to lazy myself, for I'm afraid I might be boil over with the government wasting our hard earned money again...

HOORAY !!! AirAsia X to launch Seoul flights in November

Long-haul budget airline AirAsia X (5099) said yesterday it will introduce daily flights to Seoul on November 1, its 11th destination since the carrier's launch in 2007.

"We estimate that more than 60 per cent of AirAsia X passengers to and from Seoul will be first-time visitors, which will contribute significantly to tourism growth," said AirAsia X's chief executive officer (CEO) Azran Osman-Rani.

"We are confident that AirAsia X's direct connection will be able to stimulate new travel demands and further tap new markets, especially that of young working adults and families.

"The carrier now flies to 10 destinations - London, Taipei, China (Tianjin, Hangzhou, Chengdu), Australia (Gold Coast, Melbourne, Perth) and India (Mumbai, Delhi).An affiliate of regional low-cost carrier AirAsia and Virgin Group, AirAsia X was launched in January 2007. AirAsia and AirAsia X have common shareholders, including AirAsia founder and CEO Datuk Seri Tony Fernandes.

The airline has eight aircraft and will have 11 by December. It has also placed an order for 17 Airbus A330s and 10 A340s. - AFP

This is another piece of good news for people like me - budget traveller. I guessed a lot of people have been waiting for this reality a long time already. My friend just book the tickets to Seoul for a round trip of just RM270...I'm so happy for him!

Thai Food, Fruits and Cultural Festival : 7th - 8th Aug 2010

Date: 7th and 8th August 2010
Time: 10am to 11pm
Venue: Fort Cornwallis, Penang
FREE Admission

Coming this weekend – 7th & 8th August, the Penang State Government and Royal Thai Consulate-General of Penang will jointly organise a Thai Food, Fruits & Cultural Festival at Fort Cornwallis, Penang. During this time, the public will get an opportunity to experience the authentic culinary traditions and cuisines of Thailand and to witness as well, a few entertaining performances of Thai’s delicate and graceful traditional dances and also Thai’s well-known kick-boxing national sport – Muay Thai.

Thai food is internationally well known for its requisite aromatic and tasteful flavour characteristics. Ingredients such as herbs, chilli paste and fish sauce are often used and already synonymous with Thai’s cuisine. Be it spicy, sweet and/or sour, each cuisine has its own unique way of preparation and taste that will sure to tantalize one’s taste buds. There will be a great selection of fresh exotic juicy fruits from Thailand as well. So be sure to come and personally try out the many variety and selections of Thai’s freshly and deliciously prepared food to the public for these two days’ celebration.

Now besides food, there are some traditional performances lined up for the visitors as well. A group of 10 Thai traditional dancers garbed in beautiful embroidered costumes, will be demonstrating their graceful sophisticated dances to the audience. Thai traditional dances, during the past, were once performed as entertainment for the royal court. Now, it is definitely a privilege for the visitors to be able to personally watch the performance live.

Not forgetting too, the Muay Thai ‘fighters’ will also be showing their kick-boxing martial techniques on stage. Muay Thai was previously used as a practical fighting technique in actual warfare but as time gradually passes, it became a sport that’s performed in front of spectators for entertainment basis. Now, it has become a proud national sport of Thailand indeed.

So, do make time this weekend with friends and family to participate and experience this wonderful and interesting event. Admission is free and it’s from 10am to 11pm on both days. For more information on the performances time, kindly refer to the itinerary below.

Programmes:

6:30 pm - Arrival of VIPs
6:40 pm - Arrival of YAB Mr. Lim Guan Eng, Chief Minister of Penang.
6:45 pm - Speech by YB Mr Danny Law Heng Kiang, EXCO for Penang State Tourism Development & Culture
6:50pm - Speech by Mr. Voradet Viravakin, Consul – General of Thailand
6:55pm - Speech by YAB Mr. Lim Guan Eng, Chief Minister of Penang.
7:00pm - ‘Klong – Yao’ performance by Siam-Thai Association
- Malay cultural dance performance by Penang State cultural dancers.
- ‘Muay Thai’ performance by Thai’s students from University Science Malaysia
- total of 10 dance performance by dance troupe from Thailand
11:00pm - End

visitpenang.gov

Facelift plan for Penang City Hall

A total of RM6mil will be spent over the next two years for the upgrading of City Hall at the Esplanade in Penang.

The Penang Municipal Council’s (MPPP) financial management sub-committee alternate chairman Tan Hun Wooi said the allocation would come from the 2011 and 2012 budgets.

“However, the allocation is still subjected to approval at the administrative meeting for the 2011 budget in August.

“The furniture cost to replace and refurbish the broken and old furniture has also been included in the RM6mil allocation,” he said during the full council meeting on Friday.


Tan said the committee had also approved a total of RM95,000 for repair works in City Hall under the council’s 2010 additional budget.


“The allocation comes from the saving of wages of vacant positions in the council that have yet to be filled up.

“The repair works include repairing the roof and toilet ceiling, and replacing the leaky gutters and damaged lamps.”


Hmm...now I'm thinking...is this money worth to spend???

Webber wins dramatic Hungary GP to retake drivers lead‎

Australian Mark Webber took over as leader of the Formula One drivers' world championship on Sunday with a mature and measured victory in an incident-filled Hungarian Grand Prix.

The 33-year-old Red Bull driver took full advantage of other people's problems, including those of his 23-year-old German team-mate Sebastian Vettel, to produce an assured drive that brought him his fourth win of the season and the sixth of his career.

"It was a bit of a gift for me but you know I haven't had many of them," said Webber, who was taking part in his 150th Grand Prix.

"It was an incredible day for the team. One-two was our goal but we were unfortunate not to get that."

Webber finished the 70-lap race 17.821secs ahead of Spain's two-time champion Fernando Alonso of Ferrari with Vettel, hampered by a drive-through penalty for infringing the safety car rules, finishing a frustrated and angry third in the second Red Bull at the Hungaroring.

"I didn't understand what was going on and why I was penalised," said Vettel.

"I didn't hear anything on the radio after briefly losing connection. I was warming up my car and was sure we had another lap [under the safety car]. It's a disappointing day for me."

Webber's win lifted him to 161 points in the title race and ahead of Britain's 2008 champion Lewis Hamilton of McLaren, who was forced to retire with gearbox problems, on 157 points.

Vettel is now third on 151 with defending champion and team-mate Jenson Button fourth overall on 147 points.

Brazilian Felipe Massa finished fourth for Ferrari on the circuit where last year he suffered serious head injuries after a horrifying crash with Russian Vitaly Petrov grabbing his career-best finish in his rookie season in fifth place for Renault.

Another rookie, German Nico Hulkenburg, did the same by taking sixth place for Williams ahead of Spaniard Pedro de la Rosa of Sauber and Jensen Button, who came home eighth for McLaren.

Japanese Kamui Kobayashi, who started on the back row, was ninth in the second Sauber and Brazilian veteran Rubens Barrichello, 38, claimed the final point in 10th place for Williams after surviving a dangerous barge by Michael Schumacher.

"It was the most dangerous incident of my career," said Barrichello.

Vettel, who had only translated one of his previous six pole positions into victory, enjoyed a near-perfect getaway off the grid as he left his rivals trailing.

In hot sunshine, with the track temperature at 46 degrees celsius and the air hovering around 28 degrees, it was always going to be a battle of attrition as much as speed and strategy on a track known as 'Monaco without the barriers and houses'.

A safety car intervention on lap 16 because of debris on the track was the unexpected incident that slowed Vettel's charge to victory - and Red Bull responded by calling him in for a swift pit stop.

Others followed but Webber stayed out to inherit the lead when racing resumed on lap 18, with a lead of four seconds that he was soon extending.

In the mayhem of the pit-lane, Rosberg lost a wheel off his car during a bungled stop - a Sauber mechanic saved it from causing widespread injury as it careered wildly - and then Robert Kubica was released too soon by Renault and collided with the luckless Adrian Sutil of Force India.

Hamilton was then forced out by transmission problems and, when an angry Vettel came through the pits shaking his fists, it was clear a dramatic finish was likely.

Webber, out in front, put his foot down to open up a 23-seconds lead before he pitted after 43 laps and, following a dazzling pit-stop by his crew, retained the lead to the finish.

In the constructors' championship, Red Bull took over on top with 312 points ahead of McLaren on 304.