Design application: 'Watch over me' created by a abduction survivor

Helping others: Chin showing a mobile app “Watch Over Me” which she developed after she was nearly abducted.

PETALING JAYA: Although former Internet marketeer Chin Xin-Ci has recovered physically from her near abduction, the emotional scars are taking longer to heal.

Chin suffered cuts after a cleaver was pressed against her neck by a couple of would-be rapists who pounced on her at the car park of The Curve at around 5.20pm on May 27, 2012.

Two men forced her into the car but she escaped by running out of the vehicle as it was exiting the car park.

Chin has used the experience gained from the terrifying ordeal to good use by developing a smartphone application for personal safety.

Produced in partnership with an app developer, “Watch Over Me” allows users to register for an event.

If they don't “check-in” within a certain time period, a message will be sent out to emergency contact numbers while the camera and voice recorder will be activated automatically and stored in servers.

“With a lot of the other personal safety mobile apps, you'd have to reach for the phone, unlock it and hit the panic button.

“Watch Over Me' also has a GPS tracking system that allows others to determine your location.

“If I had been abducted on that day, no one would know that I had gone missing until the next day,” said Chin, adding that she had been working on the app since October to make it more user-friendly.

After the attack, Chin slipped into depression and went through therapy for four months.

She only started driving alone this year and still does not go to shopping malls alone.

“At first I felt like a zombie.

“There was a lot of fear and anger from having suddenly lost my sense of security,” said Chin.

She added that the attack had made her even more paranoid.

Chin uses the app all the time, together with the 40,000 other users who have downloaded “Watch Over Me”.

“I hope more Malaysian women will use these types of applications.

“If something bad happens to you, at least people will know where you are and some evidence would be captured through the voice recorder and camera,” she said.

There are also other similar safety apps in the market.

By REGINA LEE  regina@thestar.com.my

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Malaysia’s vanguards: Design thinking of grooming innovators

Malaysia’s vanguards: Design thinking of grooming innovators

Malaysia’s vanguards

SIMPLY put, Design Thinking produces creative solutions to solve complex problems. In other words, you have to be creative to be innovative. But can one learn creativity or for that matter, innovative skills?

Yes, if you believe David Kelley, the design thinking guru and founder of global design firm Ideo and the School of Design Thinking at Stanford University.

“So many people think that it’s kind of in your gene – you’re a creative person or you’re not. I don’t buy it,” says Kelley in Design & Thinking, a documentary on design thinking by San Francisco-based One Time Studio. Kelley argued that human beings are naturally creative (just observe kids!) and you just need to rediscover your creative confidence to crack open the door to innovation. The process of design thinking is a “scaffolding for creativity” as design thinking advocate, Tim Brown of Ideo, calls it.

Hence when Genovasi was initiated by the Government to produce “innovation ambassadors,” the organisation settled on design thinking methodology to cultivate these innovators.

“We wanted an approach that would instil a sense of curiosity for technology and entrepreneurship among youths. And any innovation that derives from the approach should include empathy towards the needs of people,” says Datuk Seri Dr Kamal Jit Singh, chief executive officer of Unit Inovasi Khas (UNIK) which manages Genovasi.

“Design thinking fits these criteria perfectly as it offers a human-centred approach to innovation.”

Under the Innovation Ambassadors Development Programme, participants go through a 10-week programme to grasp the nuts and bolts of design thinking and apply their know-how to solve real-life problems posed by project partners. To date, project partners include The Millennium Project, an independent, non-profit think thank, and RSA (The Royal Society for the Encouragement of Arts, Manufactures and Commerce), a London-based charity committed to finding innovative solutions to today’s social challenges. Upon completion of the programme, these “ambassadors” may go on to create startups or find placements in Genovasi’s partner organisations like government agencies, GLCs or corporations.

“These Ambassadors are expected to bring positive changes to three core areas: improve public service delivery within government departments, ministries and agencies; improve the quality of life in rural and local communities and create new economic wealth through entrepreneurship or industry game-changing efforts,” says Dr Kamal. Genovasi’s plan is to produce a minimum of 5,000 Innovation Ambassadors over the next five years.

As collaborators, the Hasso-Plattner-Institut (HPI) School of Design Thinking in Potsdam, Germany, not only helped develop the programme for Genovasi but also conducted strategy and trainers’ workshops and assessments.

“It was really great to see there are a lot of Malaysians who are keen to do something under the innovation programme,” says Dr Claudia Nicolai, the general programme manager of HPI D-School. Nicolai was in Malaysia to help set up the programme. “People are extremely open-minded and willing to work together.”

“Malaysia’s advantage, compared to Germany, is that you are so diverse. You have influences from different ethnic cultures, customs and religions – that’s an advantage to generate truly creative ideas.”

The D-School in Germany did not copy and paste Stanford University’s D-School model but instead adapt it to the European environment.

“Genovasi’s programme is basically an Asian version of what we are doing. It puts a new flavour in design thinking,” says Professor Ulrich Weinberg, HPI D-School’s director.

“You have the chance to build on the experiences of Stanford and HPI,” he adds. “You can build something which is the next version or reinvent what we’re doing.”

The Innovation Ambassadors Development Programme (IADP) is open to university students or entrepreneurs up to the age of 35. Students and experts from all disciplines are welcome to apply. The programme is free for Malaysians. IADP’s second intake starts from May 27. Closing date for application: March 31, 2013. For more info, go to genovasi.my

Grooming innovators

To produce innovative Malaysians, innovation agency Genovasi teamed up with a Germany-based institute to teach ‘design thinking’. We travel to Potsdam, Germany, to find out more about this creative approach. 

NEON-coloured sticky notes, Lego blocks, rainbow-hued foam peanuts, knitting threads, cardboard boxes and colouring pens – these are “tools” for brainstorming and constructing prototypes. Whiteboards on wheels replace walls that separate the “classrooms.” Chatter and guffaw waft across the space.

You can’t help but feel the creative vibes and peppy energy that emanate from the Hasso-Plattner-Institut School of Design Thinking (aka D-School). Located in the historical city of Potsdam, southwest of Berlin, D-School is part of the Hasso-Plattner-Institut, an IT-Systems Engineering university founded by Hasso Plattner, the man behind software giant SAP.

We are on a media familiarisation trip organised by Unit Inovasi Khas (UNIK), an innovation agency under the Prime Minister’s Department, to get an insight into D-School, which partners Unik to train Malaysian youths to become innovators.

Founded in 2007, the D-School curriculum is based on the “design thinking” process – an approach that looks at users’ needs and desires, leading to sustainable innovations that can make people’s lives better. It is not about design per se.

And unlike the mythical lone genius inventor, design thinking involves teamwork. It draws on the expertise of individuals from varying backgrounds and disciplines, from engineers and anthropologists to accountants and fashion designers.

Hardly a newfangled idea making its runway debut, the concept has been bandied about for decades and used as a mantra by some of the biggest creative companies in the world, including San Francisco-based global design firm Ideo.

But the methodology was pioneered from Stanford University in California, and taught and explored at the Hasso Plattner Institute of Design at Stanford since 2005. As part of the coursework, students get to work on real-life “design challenges” developed together with project partners from the industry, public sector or non-profit organisations.

Design thinkers

In the corporate realm, award-winning companies like Ideo employ design thinkers who are marketers, engineers, psychologists, industrial designers and architects. Ideo has 12 offices in eight countries and high-profile clients like Visa, Toyota, Samsung, Procter & Gamble and Coca-Cola.

Take their design project with Shimano, the leading supplier of bicycle components in the world. In 2004, Shimano was grappling with stagnated growth in its high-end road-racing and mountain-bike sectors in the United States. Driven by technology innovations for years, the company’s initial instinct was to introduce high-end casual bicycles that might appeal to baby boomers.

But with the help of Ideo, adopting the design thinking method, the company realised they should reach out to the 161 million US adults who aren’t riding bicycles. Using a human-centred approach, Ideo and Shimano hit the streets to survey why 90% of American adults do not ride bicycles. Findings reveal that the complexities (like shifting gears) and costs of modern bikes, the high maintenance, and the danger of cycling on roads are factors that put off casual cyclists.

Shimano then partnered with bicycle manufacturers like Giant, Trek and Raleigh to produce a biking experience that stirred up childhood memories of simple, joyful riding. These “coasting” bicycles have coaster brakes (back pedalling to brake), automatic shifting and puncture-resistant tires to make cycling easier and low maintenance.

To ensure a holistic experience, a comprehensive website helps people to locate safe places to ride. Shimano also launched a trade campaign and training curriculum to educate retailers to better serve recreational customers. In six months, the three manufacturers sold out the 30,000 Coasting bikes produced.
“Design thinking is a mindset and a set of methods you can use to solve problems that can impact society and businesses,” explains Dr Claudia Nicolai, the general programme manager and lecturer of D-School, on our visit.

“It’s not like it has never been done before,” admits Nicolai who has been studying strategic innovations, the precursor to design thinking, for a decade.

“What it does is to combine different methods and developments and put it under the design thinking label.”

Nicolai develops and designs teaching content, coaches students and teachers, hosts workshops and develop design-thinking strategies for companies.

At D-School, there are three core elements in design thinking: focus on multi-disciplinary team, team-supported space that is highly flexible and dynamic, and the process itself, Director of D-School Professor Ulrich Weinberg added.

Dubbed the “grandfather of computer graphics in Germany,” Weinberg is instrumental in getting D-school going from the beginning.

He has 25 years of experience in 3d animation, simulation and computer games. At D-School, the course runs over one term (Basic track) or two terms (Advanced track) spanning 12 weeks, and students are assessed based on their teams.

“What I learned in the last five years is that you will not get the full, dynamic energy of the people, whether in companies or schools, if you have incentive models that focus on individual performance.”

In recent years, huge corporations in Germany are also jumping in on what D-School is doing.

“Companies are calling us to partner on projects or to book workshops on design thinking,” says Weinberg. Some of D-School’s partners include industry giants like Siemens, Johnson & Johnson, DHL, Panasonic and Lufthansa Airlines.

The enthusiasm of D-School students is as infectious as their teachers’.
“I think the key benefit is learning how to design for people, focusing on their needs or wishes. You are not trying to sell things but to fulfil needs,” says Juliana Paolucci, 24. A product and graphic designer from Brazil, Paolucci and her teammates Andrezej Karel, Sabrina Meyfeld and Laura Kroth are working on a design challenge for Genovasi. Their subject: how to engage young people in the development of the community.

They had to set out to find solutions that can convert Malaysian youths from armchair critics to empathetic doers.

“The youths are the future of the country, they need to engage the community and change reality,” explains Paolucci. “But first we need to find out their needs, wants and desires, and ways to fulfil them.”

“Also we need to take into account activities they like to do, for example, how do they use social networking to take community action?”

Using design thinking methodology brings together different actions in a structured way, Karel added.

“The first idea might not be the best solution, so we go through an iterative process multiple times: understand, observe, define point of view, ideate, prototype and test,” says the 25-year-old Polish who is working on his thesis for his marketing/management degree.

Room for failure is the DNA of design thinking.

“In a conventional design process, you just sit in your room, and keep going at it until you think it’s perfect,” explains Meyfeld, 27, a communication scientist.

“But with design thinking, we’re out testing prototypes on the second or third day and if it doesn’t work, we start at it again.”

“I am keen on social innovation and want to learn more about how to apply the methodology in my social enterprise,” adds Kroth, 29, who studied communications and public relations. She hopes to start a small business to bring people of different generations together to develop dialogues on German history and keep history alive for future generations.

 D-School experience

As for D-School alumni like Jeremias Schmitt, his experience prepared him for how he wants to work with people and how to develop projects further.

“After the D-School experience, students actually find real meaning in what they do, why they do it and how they want to do things,” quips the 27-year-old Berliner.

“Some even applied for jobs that they never thought of applying, for example, a student who studied information science seeking for a business development job.”

In Europe, more and more start-ups are using design thinking as a tool to innovate, Schmitt added.

So is design thinking the be-all and end-all of innovation? And how does one measure its efficacy or success rate?

“For me, it’s not about how many products are successful in the market. I care more about how design thinking deeply impacts the students, how they got the chance to experience the process, and how it changed the way they do things,” says Weinberg.

To date, D-School has done about 70 projects. One-third of the ideas were implemented at some point, the other third came up with solutions that led to different things, and one-third led to nothing.

Clients who worked on the project either left their companies or there was no follow-up from the clients’ side. The role of design thinking at D-School is to create innovators, not so much innovations.

In the case of Shimano’s Coasting programme, three years after its initial success, the company pulled the plug on the programme and manufacturers stopped rolling out coasting bikes because sales fell below expectations.

Some industry observers blamed it on the bike brands that weren’t doing their jobs to communicate the benefits of Coasting to retailers and customers, among other factors.

It wouldn’t be fair to say this design thinking experiment has flopped.

Suffice to say, design thinking isn’t the magic pill for success.

But “use it to its advantage: to give new insights, outline new ways of thinking, introduce new techniques or develop new entries to the market,” as innovation and design writer/editor Helen Walters (formerly with BusinessWeek and Bloomberg) attested in her talk “Design Thinking Won’t Save You.”

By LEONG SIOK HUI star2@thestar.com.my

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Filipinos’ Sulu militant group in Sabah must leave Malaysia today

Muslims at the Golden Mosque in Quiapo district of Manila on Saturday express their support to Sulu Sultan Jamalul Kiram III and followers who are Sabah in press for their claim. DANNY PATA

LAHAD DATU: Malaysia has extended the deadline for the Sulu armed group to move out of Tanduo village and return home to today, following a request from the Philippines.

The Philippine Government had earlier asked for the deadline to be set for Tuesday to allow them to persuade Sultan Jamalul Kiram III to order his brother Azzimudie Kiram and the armed group of more than 100 to get out of Tanduo village in Felda Sahabat 17 where they have been holed up since Feb 9.

The request was made to Foreign Minister Datuk Seri Anifah Aman by his Philippine counterpart Albert del Rosario after the expiry of the Friday deadline.

Anifah, however, told The Star that he had conveyed the decision on the new Sunday deadline to Rosario.

“We are hoping the stand-off will end peacefully with the latest deadline,” he said, echoing Home Minister Datuk Seri Hishammuddin Hussein's statement that he wanted the two-week stand-off to “end sooner than later” without bloodshed.

Hishammuddin told reporters in Kluang that the extended period would not be too long as his ministry would leave it to the security forces to conduct an operation to end the stand-off.

He said the Tanduo incident was different from the country's past experience with armed groups such as Al-Maunah, Abu Sayyaf and Jemayah Islamiah as this group claimed to be descendents of the Sulu sultanate.

However, he said the country's sovereignty and the pride of the Sabah people must not be taken for granted.

The priority of the armed forces was to defuse the situation without bloodshed as it could affect Malaysia's good relationship with the Philippines, he said, adding that the preparation for the deportation of the Sulu group “is in the final stage”.

As the Philippine Government tries to persuade the Sulu Sultan to take their Sabah claim demand to a diplomatic level, the Kiram family has been adamant and had asked Azzimudie's group to stay put in Tanduo.

Although emissaries have been negotiating with Azzimudie, the political pressure in Manila has been mounting on President Benigno Aquino and his Cabinet to resurrect the long dormant Sabah claim following talk that the Oct 15 peace deal with the Moro Islamic Liberation Front had left out the Sulu sultanate as well as Nur Misuari's Moro National Liberation Front.

To help defuse and bring the stand-off to a peaceful conclusion, Philippine Defence Secretary Voltaire Gazmin said he and his Malaysian counterpart, including the armed forces of both countries, were closely coordinating their actions and exchanging information.

Gazmin said the Philippine military had enforced a naval blockade in the Sulu Sea to prevent undocumented Filipinos from entering Sabah as reports emerged that other groups from southern Philippines were poised to help Azzimudie's gunmen.

Stating that the Sulu group was pursuing its Sabah claim the wrong way, Gazmin revealed that six navy ships and a transport vessel were on standby in Tawi Tawi, about a 15-minute fast boat ride to Tanduo village.

By P.K. KATHARASON, MUGUNTAN VANAR and MOHD FARHAAN SHAH The Star/Asia News Network

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China heaps scorn on Abe remarks to boost US alliance (against China)

Washington (AsiaNews/Agencies) - Japan's new Prime Minister Shinzo Abe is in the United States to forge a new and closer alliance with the Unit States in opposition to China. Elected in December, the hawkish Abe arrived in Washington yesterday. Today he is scheduled to meet US President Barack Obama. The timing of the visit is not accidental, given rising tensions with China over a group of islands and North Korea's ever-dangerous threats

.In an interview with a US paper ahead of his trip, Abe voiced hope that the US alliance - and the presence of 47,000 American troops on Japanese soil under a security treaty - would send a message to China. "It is important for us to have them recognise that it is impossible to try to get their way by coercion or intimidation," Abe explained.



VIDEO: CHINA REJECTS ABE’S ACCUSATIONS CCTV News - CNTV English

 The Chinese foreign ministry on Friday continued to slam Japanese Prime Minister Shinzo Abe, who pointed the finger at China on a slate of domestic issues during an interview prior to his visit to the US.

The ministry accused Japan of playing up the "China threat" with ulterior motives.

"China is strongly dissatisfied with the Japanese leader's comments that distort facts, attack and defame China and stir up confrontations between the two countries," Hong Lei, spokesman for the foreign ministry, told a press briefing.

Hong's comments followed others from Thursday and came in response to Abe's accusations, which claimed China had a "deeply ingrained" need to spar with Japan and neighboring countries to "maintain domestic support," according to the Washington Post.

Echoing the Chinese side's requirement for immediate clarifications, Japanese Chief Cabinet Secretary Yoshihide Suga explained Friday that the newspaper misquoted Abe's remarks and had caused a misunderstanding.

Suga said the prime minister has repeatedly emphasized the Japan-China relationship and would push forward strategic and mutually beneficial relations.

Despite the explanation, the transcript of the exclusive interview published by the Washington Post on Thursday showed that the hawkish Japanese leader lambasted China's political and education systems among other issues.

During the interview, Abe said that under the one-party rule of the Communist Party and having introduced a market economy, China needs to maintain high economic growth by seeking resources through coercion or intimidation while teaching patriotism mirroring an "anti-Japanese sentiment."

"Obviously, Abe tries to tarnish China's image in the international community and hype up the 'China threat' before talks with Obama in order to win US sympathy and support," Lü Yaodong, a researcher of Japanese politics at the Chinese Academy of Social Sciences, told the Global Times Friday.

Hong said that only Chinese people have the right to speak about whether China's political system and development strategy are suitable.

"Only those with political bias and ulterior motives would maliciously interpret and blame them," he noted.

Huang Dahui, director of the Center for East Asia Studies at the Renmin University of China, told the Global Times that this reflected the "value-oriented" diplomacy Abe has been adopting to "flatter" the US, adding that the hawkish Japanese leader has also stressed propaganda throughout his political career.

Abe was scheduled to meet Obama on Friday. During a press conference on Thursday, White House Deputy National Security Advisor Ben Rhodes said the meeting is a "further symbol of the President's commitment to the US-Japan alliance as a cornerstone of US economic and security policy, and as a cornerstone of the US-Asia policy."

Danny Russel, senior director for Asia at the National Security Council, said the two leaders are expected to discuss maritime security issues and territorial claims both in the East China Sea and the South China Sea.

In his interview with the Washington Post, Abe also warned that without changing its current policy, China would lose the confidence of the international community, which will result in a loss of foreign investment.

"The logic is ridiculous. It is Japan that has stirred up provocation by 'nationalizing' the Diaoyu Islands. It should rethink its own policies," said Lü.

Regarding such remarks, Russel said Obama would listen to Abe's assessment and views on the current situation in the East China Sea and the consultations between Tokyo and Beijing. He added that the US opposition to coercive actions or unilateral steps threatening the stability of the region has been "clear."

A commentary carried by the Xinhua News Agency on Friday said the US should not be "hijacked" by Japan over the territorial dispute with China, as the US support for Japan on this issue "would not only damage Washington's credibility as a constructive superpower, but also as an important partner of China on many pressing global issues."

Huang said in terms of China-related issues, the US would show its support to Japan as an ally, but would not be led by Japan to sacrifice the China-US relationship.

Sources: AsiaNews.it/Global Times

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Cyberattacks using US IPs' target military - China-fights back

VIDEO: EXPERT SAYS HACKING ALLEGATION ILLOGICAL CCTV News - CNTV English



China’s state media has come out fighting after over allegations of cyberattacks on US companies, and declared the accusations a “commercial stunt.”

Earlier this week, Alexandria based Internet security firm Mandiant, said Chinese military cyberspy unit had been targeting US and other foreign firms and organisations in hacking attacks.

But China Daily have hit back, writing: “One cannot help but ask the real purpose of such a hullabaloo.”

The paper added:

“With the US economic recovery dragging its feet, it is reasonable to think that some in Washington may want to make China a scapegoat so that public attention is diverted away from the country’s economic woes.”

China Daily also quoted defense ministry spokesman Geng Yansheng as saying the People’s Liberation Army had also been targeted in a “significant number” of cyberattacks.

“A considerable number” of them originated in the United States, judging from the IP addresses involved,” he said, but added that he did not “accuse” the US government of being involved.

According to Agence France-Presse, Mandiant’s report alleges that the hacking group “Advanced Persistent Threat” (APT1), was part of the Chinese military’s Unit 61398. Mandiant also said APT1 have stolen hundreds of terabytes of data from at least 141 across 20 industries, some of whom are involved with US domestic infrastructure.

But official state news agency Xinhua said the Mandiant report “reeks of a commercial stunt”.

“Next time,” wrote Xinhua in a stinging commentary, “the CEO could simply say: ‘See the Chinese hackers? Hurry up, come and buy our cyber security services.’ ”

The state news agency added that the US had a “matchless superiority and an ability to stage cyberattacks across the globe”, and that the US military had “established a significant cyber force, including the 780th Military Intelligence Brigade, which is a regular military unit tasked with carrying out cyber missions”.
In a further missive, Xinhua said Washington had a “habit of accusing other nations based on phony evidence,” adding:

“Facts will eventually prove that the cyberattacks accusations are groundless and will only tarnish the image and reputation of the company making them, as well as that of the United States.”

The comments in China’s media comes after President Obama’s administration executive order on February 12 which promised to aggressively combat the increase in cyberattacks pursuing trade secrets that could threaten domestic economic and national security, Mondaq reports.

In a report titled the Cyberspace Policy Review, the White House did not explicitly name China as a threat, but the inference was clear.

The step-up on US cyber-security follows well publicized claims of hacking attacks from Chinese sources at The New York Times, The Washington Post and the Wall Street Journal.

White House Press Secretary Jay Carney said Tuesday, “We have repeatedly raised our concerns at the highest levels about cybertheft with senior Chinese officials, including in the military, and will continue to do so. This is a very important challenge.”

At a subsequent press briefing on Wednesday, Carney added there could be possible trade restrictions imposed on China.

But some experts say most the documented cyberattacks have been linked to Eastern Europe, with the remainder linked to the U.S. and only a handful to China.

“There are too many people right now saying, ‘the sky is falling,’ without proposing cost-effective solutions, which is causing a lot of confusion,” said James Hendler, professor of computer science at Rensselaer Polytechnic Institute in Troy, New York, IB Times reports.

Spurred by private sector, Malaysia economy grows 6.4% in Q4, 5.6% for 2012 vs 5.1% in 2011

KUALA LUMPUR: Malaysia's economy recorded a spectacular performance in the last quarter of 2012, growing 6.4%.

This is the highest quarterly growth since two and a half years ago and was buoyed by robust manufacturing and construction sectors.

It supported the overall economic growth for 2012 that expanded to 5.6% compared to 5.1% in 2011.

Economists polled by Reuters had forecast that the growth of the fourth quarter would accelerate to 5.5% from 5.2% in the previous three-month period, and forecast a full-year growth at 5.3%.

All sectors registered positive growth with the services, manufacturing and construction sectors continuing to be the key drivers in the supply side.

Many experts believed that the Economic Transformation Programme, with its multi-billion projects, had to a great extent supported the growth in the construction sector that carried spill-over effects onto other sectors.

Bank Negara Malaysia said total investment remained robust and was the main driver of growth during the quarter.

“The growth of private consumption continued to remain strong although the pace of increase moderated.

“The growth during the quarter also benefited from a significantly lower negative contribution from net exports.

“On the supply side, most economic sectors recorded improvements in growth during the quarter,” it said in a statement yesterday.

The main drivers of the economy in the fourth quarter included domestic demand that continued to expand by 7.5%.

Private sector investment advanced by 20.2% supported by capital spending in the domestic-oriented manufacturing and consumer-related services sub-sectors, namely telecommunications, real estate and aviation and the on-going implementation of projects in the oil and gas sector.

Investment was also supported by capacity expansion in the primary-related manufacturing cluster and capital spending in new growth areas such as medical and communications equipment.

Public investment expanded by 11.1%, driven by capital spending by public enterprises in the transportation, utilities, oil and gas and communications sectors.

Bank Negara said the headline inflation rate, as measured by the annual change in the Consumer Price Index, continued to moderate to 1.3% in the fourth quarter.

Going forward, Bank Negara said there were emerging signs of improvements in the global economy where the latest economic indicators also suggested further stabilisation in growth performance in Asia. - The Star/Asia News Network

Robert Kuok is still top among 40 richest Malaysians

Robert Kuok, the Hong Kong-based Malaysian tycoon, is still the richest man in Malaysia with a wealth of RM46.1 billion, up 0.88 per cent from last year’s RM45.7 billion, followed by businessman Ananda Krishnan and Public Bank’s Tan Sri Teh Hong Piow.

Ananda, in second position since 2004, suffered the biggest wealth decline, falling by 23.5 per cent from last year, with his assets held via Usaha Tegas Sdn Bhd worth RM32.90 billion as at the tabulation date of January 18, 2013.

Teh, kept his place for the third year running with assets worth RM13.73 billion, business magazine Malaysian Business said in its February 16 issue.

It said that the combined wealth of Malaysia’s 40 richest individuals rose slightly this year despite the volatile and choppy capital markets.

They were collectively worth RM194.86 billion as at January 18, a slight increase of 0.86 per cent compared to RM193.2 billion a year ago.

When Malaysian Business first started counting the wealth of Malaysia’s 40 richest individuals in 2002, their combined assets stood at RM41.7 billion and Kuok came out on top.

The magazine said that fourth on the list is Tan Sri Quek Leng Chan, who jumped from sixth position last year, replacing Tan Sri Lee Shin Cheng of IOI Group, who slid to sixth.

Quek’s wealth, through his flagship Hong Leong Group and Guoco Group, is valued at RM11.09 billion this year.

Tan Sri Syed Mokhtar Albukhary keeps his fifth position this year with a wealth level of RM10.60 billion, up from RM9.53 billion last year.

Lee slips from fourth position in 2012 to sixth with assets of RM10.56 billion.

Genting Group’s chief, Tan Sri Lim Kok Thay, and his mother, Puan Sri Lee Kim Hua, maintain their seventh and eighth positions respectively. Lim’s wealth rose 7.06 per cent to RM8.12 billion while Lee Kim Hua’s increased 9.82 per cent to RM7.23 billion.

Tan Sri Tiong Hiew King, through his vehicle Rimbunan Hijau Sdn Bhd, is at ninth place this year with assets worth RM6.35 billion, a slight fall of 1.01 per cent from that of last year.

Rounding up the Top 10 list is Singapore-based property tycoon Ong Beng Seng, via Hotel Properties Ltd, with a wealth level of RM4.02 billion, a decline of 18.36 per cent from last year.

Malaysian Business said that one interesting fact was that since 2002, 81 tycoons have joined the 40 Richest Malaysians list and of that, 15 have managed to remain on the list continuously.

Overall, the steady increase of these tycoons’ wealth can be attributed to share market performance and price inflation, given that their wealth is largely based on their shareholdings.

It is also reflective of the performance of their companies and Malaysia’s positive economic growth over the past 12 years.

As for this year, there were 31 billionaires — one more than last year — and 23 of the 40 in the list saw their assets increasing from last year. Of these, 14 registered growth of more than 10 per cent.

There were three newcomers to the list. Datuk Desmond Lim of Pavilion REIT made his debut at number 15, with a wealth worth RM1.869 billion. The other two, Datuk Tan Heng Chew of Tan Chong Motors Holding and Tan Sri Kua Sian Kooi of KSK Group, returned at number 37 and 40 respectively.

The full list of the 40 tycoons and details of their wealth appear in the magazine. It also presents a list of the 10 richest tycoons on the ACE Market.

As in previous years, the wealth of the Top 40 was assessed based on the value of their stake in listed companies as at January 18. — Bernama

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