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S. Korea bank chief found dead in apparent suicide Posted: 22 Sep 2011 11:09 PM PDT SEOUL: The head of a major South Korean savings bank was found dead today in an apparent suicide after investigators raided his office as part of a probe into illegal dealings at several banks, police said. Jeong Gu-Haeng, president of Seoul's Jeil 2 Savings Bank, appeared to have jumped from his office on the sixth floor of the bank's Seoul headquarters, a police officer told AFP. "It is true that he jumped to his death," the officer said, adding the scene had been sealed off. Television footage showed investigators covering Jeong's body with a piece of white cloth. The apparent suicide followed a raid by prosecutors, police and bank regulators of seven savings banks including Jeil, in connection with possible irregularities by their executives and major shareholders. "We are focusing on confiscating materials on excessive loan extensions, improper lending to shareholders and unhealthy loans, which the banks were accused of issuing," an unnamed investigator told Yonhap news agency. Prosecutors seized accounting books, transaction statements and computer hard disks, it said. Financial regulators at the weekend suspended the seven banks for six months because of their poor financial condition caused by reckless investment in risky property projects. The move came after a stress test revealed capital shortages and deposit losses at some mutual savings banks, which lured customers with high interest rates and offered loans to those unable to borrow from major lenders. So far this year 16 savings banks have been suspended for inadequate liquidity after financing of soured real-estate projects swelled bad loans. Busan, the country's largest savings bank, was suspended earlier this year, sparking public anger after claims that wealthy clients were tipped off in advance about its shutdown so they could withdraw their cash. Prosecutors later charged Busan's owner, family members and executives with embezzlement and fraud. The suspensions of the latest seven banks affected roughly 640,000 customers who hold deposits of 11.3 trillion won ($9.45 billion). "Severe punishment is required for illegal activities by managements and major shareholders," Financial Supervisory Commission chief Kim Seok-Dong said Thursday. He promised to honour a guarantee of repayment of up to 50 million won for each account-holder. Authorities opened a website where deposit holders can apply for such payments over the next two months. But customers rushed to retrieve their deposits Thursday, the first day they became available. Regulators said withdrawals decreased Friday as investor jitters calmed. - AFP

MySET to pool local engineers Posted: 22 Sep 2011 10:58 PM PDT KUALA LUMPUR: The merger between Malaysian Society for Engineering and Technology and Malaysian Society of Engineering Technologist is set to pool the nation's largest professional groups to help the government take the nation forward. The new organisation, The Malaysian Society for Engineering and Technology (MySET), would play a role in assisting the public and private sectors transform the country into a high-income nation. In a statement today, MySET president, Prof Datuk Abang Abdullah Abang Ali, said the initiative would ensure the country has a good supply of practical engineers to help the country move ahead in the competitive global arena. "This is laudable and can help the country address its needs for trained engineering professionals," he said. -- Bernama

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'Don't link me to Sime deal' Posted: 22 Sep 2011 10:34 AM PDT 2011/09/22 By Masami Mustaza masamimustaza@nst.com.my KUALA LUMPUR: Minister in the Prime Minister's Department Tan Sri Nor Mohamed Yakcop said it did not make sense for him to clarify on Sime Darby Bhd's purchase of RM776 million worth of shares from property development company Eastern & Oriental. "I am not with the Finance Ministry. I am now the minister in charge of the Economic Planning Unit. This incident happened after I left the Finance Ministry but people say I must answer as the former minister. "This doesn't make sense. I have nothing to do with it," he said after launching the Malaysian Institute of Management's (MIM) national talent summit yesterday. Nor Mohamed said he had "zero knowledge" of the share purchase and "nothing to do with Sime Darby directly or indirectly" and suggested that those who were trying to implicate him had "bad intentions". He was commenting on a call by a non-governmental organisation Gagasan Anti-Penyelewengan Selangot (GAPS) on Tuesday urging Nor Mohamed to clarify his involvement in the share purchase. The call from GAPS came about after Malay group Perkasa first made the allegation. Earlier, Nor Mohamed spoke on the factors that drew in foreign direct investment into the country. "There are a few things that foreign investors ask before investing here or elsewhere. The first is whether the country has political and social stability and whether we have enough capable and skilled workers to work in their companies." He said the 10th Malaysia Plan had given a bigger focus to the production of talented workers through the vocational stream, whereby students who lacked an interest in academic disciplines were equipped with the necessary skills for skilled work. "The vocational stream can be lucrative. For example, the wages of a chargeman is high, nearly RM6,000. You don't need to study sociology, philosophy or history to be one. You just have to take the course to be a chargeman." Nor Mohamed added that as the country needed workers who were highly knowledgeable and skilled, steps must be taken to ensure such groups were keen to work here. "It will take more effort to woo those currently working overseas but, more importantly, we must ensure that those who are here will not migrate." The summit is a two-day event, which brings together stakeholders, including top industry leaders, to discuss matters pertaining to talent shortage in the country.

Najib: Don't fear changes Posted: 22 Sep 2011 10:34 AM PDT 2011/09/22 By Minderjeet Kaur mkaur@nst.com.my KUALA LUMPUR: Details of the two new acts to replace the Internal Security Act (ISA) will be made public soon, Prime Minister Datuk Seri Najib Razak said. He said this was necessary so that everyone would understand the steps taken by the government and hoped the people, especially Barisan Nasional members, would not be afraid of the changes. "Repealing the ISA is part of my promise to review the act two years ago. This shows BN is bringing about tremendous changes," he said at the Wanita, Youth and Puteri Umno open house at the Putra World Trade Centre here yesterday. The new acts are related to anti-terrorism measures and national security. Najib said the changes would show that BN and Umno were modern, progressive and inclusive, adding that BN would be able to defend its position as the leading coalition because of its enlightened policies. For instance, he said while some countries gained independence through bloodshed, Malaysia had peace talks among various races. "Other countries such as Northern Ireland are still in conflict after so many years. But Umno and BN are ahead of the times. "We have been working together to achieve harmony." Another example was the country's victory over communism. "We won by winning the hearts and minds of the people." On the Bukit Kepong incident, he said Malaysians knew the true heroes were from Umno, the police, army and several nationalists. As such, Umno and BN would defend the names of those who died protecting the country from communist attacks. "We will make sure they remain the country's true heroes," he added. Umno Youth chief Khairy Jamaluddin said Umno Youth supported the repeal of the ISA. "The youths support its abolition. But some grassroots members think the country's security will be jeopardised. "We will go to the grassroots and explain that the nation's security is not affected." Khairy said Umno Youth also wanted the two new acts to have provisions, among others, for judicial review, a shorter detention period of less than 60 days and access to lawyers. "The new acts should be specific. Very detailed. They should provide the definition of terrorists, or people will say it is the same drink in a new bottle. "We need acts that will protect the country but at the same time, uphold the rights of the people."

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I can take on Aziz anytime: Dr Zul Posted: 14 Mar 2011 11:25 PM PDT I can take on Aziz anytime: Dr Zul 2010/10/29 By NST team in Gua Musang, Kelantan news@nst.com.my GUA MUSANG: Pas' candidate Dr Zulkefli Mohamed remained a good sport over jokes that his stocky frame might tire him fast during the campaign trail. He said he was used to work long hours when he was a doctor at government hospitals in the past. "There were times when I had to work over 36 hours on a stretch, then. I think I can keep up with the hectic campaign schedule now," he said. Dr Zulkefli, 44, will be up against Barisan Nasional's Abdul Aziz Yusoff, 49, in the Galas by-election on Nov 4. Some segments of political watchers have been heard making comparisons between the two candidates of their physiques. Such light banter follows an absence of substantive issues to debate since campaigning started on Nov 26. Dr Zulkefli said he was feeling alright even when there were many places to visit over the past three days. To keep fit, he said he took a lot of water and sufficient rest. When a reporter asked about his weight, Dr Zulkefli said: "I do not know. Let us keep it as a secret." In jest, he said he could take on Aziz in a running or tug-of-war competition. Visit us for more web exclusives everyday from NST Galas team. For full stories and in-depth news, get NST in print tomorrow. Air your comment on this issue: I can take on Aziz anytime: Dr Zul Log in with your Facebook account or use the form below to comment. New Straits Times reserves the right not to publish offensive or abusive comments and those of hate speech, harassment, commercial promos and invasion of privacy. Your IP will be logged and may be used to prevent further submission.The views expressed here are that of the members of the public and unless specifically stated are not those of NST.

Sabah Umno reaching the 500,000 mark Posted: 14 Mar 2011 08:17 PM PDT Once upon a time, a real history took place and handed down the real lessons out of the events concluded that a small number can defeat a huge number of opponents by the will of Allah taala. Therefore, in the modern institutions and struggle like political institutions, this lessons of history is still relevant and worthy to ponder. In fact, there are many facts to ponder on why the listed numbers of political members do not reflex the true pictures. The Chief Minister of Sabah, Datuk Musa Aman's recent annoucement of Sabah UMNO success in the recruitment of membership drive does not mean much to me as it seems to suggest it is the result of his leadership. A leader should be humble and not self glorifying. One's work should be judged by the people and not himself. I still remember our DPM, Tan Sri Muhyiddin Yassin remark in the opening of the PBS congress in Kota Kinabalu recently where he said "he has done little in the success of the Batu Sapi by election ". Frankly how many can do that ? This is the model of leader we must emulate - humble, unassuming and lead by example. Traits of great leader who make small people feel great. Afterall, recruitment of new members in any party is the duty and obligation of its leaders. It is not a competition as it is the quality and not quantity of the effort that count. We should not trumpet about it. High membership in any political party does not guarantee success if the party and its leaders do not command the support from its ranks and files as well as leaders from other coalition parties, particularly in the state of Sabah. Having such a mentality would breed complacency and place the party concerned and BN in a perilous situation. Sabah UMNO chief, Datuk Musa Aman's annoucement that their membership drive to date has reached 456,000 membership level, the highest among all other states is indeed quite credible. The first thing that comes to thought is 456,000 is 456,000 until the half million mark is reached which is another 44,000 more to go and this is not a small number. In the annoucement, last year alone, they only managed to recruit 40,000 new members and has no mention of what this year's result is ? Has the effort reached been saturated is another question that surfaces in my mind. My concern however is in any numerical assessment, we must give the picture in its correct perspective and not try to over dramatise or sensationalise it to justify certain motives, personal or otherwise. And when figures concerning and affecting the outcome of an election, the state and the image of UMNO and Barisan Nasional, we have to be careful and truthful. The annoucement also gives rise to many questions to be answered. First, how many of these registered members will actually and eventually vote and vote for BN comes election time?. Is the annoucement trying to suggest we are growing stronger, there is nothing to worry and we can repeat the big win in the state achieved in the last election ? The Batu Sapi by election is no doubt the combined efforts in greater and lesser extend of all state BN coalition members. However, with the bad blood that existed all along with the Chief Minister of Sabah, Datuk Musa Aman and PBS president, Datuk Pairin, with SAPP president, Datuk Yong Teck Lee, the duel was in actual fact a life and dead battle among the subject combatants. Aided by a predominantly bumi constituency,the vast resources from BN and the ever tireless presence of our DPM, the vast win at Batu Sapi could be an isolated incident. Removing these factors, or in a diluted extent, the result could be different. As a rough estimate, Sabah with a population of 2.5 million and say,with a 60% eligible voters, it will work out to have about 1.5 million potential voters. From the above, the present UMNO membership only represents to about 30% of the total possible voters. Will that be adequate to determine another landslide victory in the coming election ? given the fact there 60 constituencies in the state ? Many in the last encounter encountered sort of narrow escape ? The growing number of unresolved problems faced by the people todate? The discontents of the present leadership among the files and ranks ? How much support the present state leadership since last reappointed, still enjoy is therefore any one's guess. To me the annoucement seems to be made in conjunction with the coming BN convention in Kuala Lumpur in an effort to influence its outcomes

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'Maybank, CIMB vulnerable to de-rating risks' Posted: 22 Sep 2011 06:35 PM PDT Malayan Banking Bhd and CIMB Group Holdings Bhd, two of Malaysia's biggest banking groups, fell in Kuala Lumpur trading after Credit Suisse Group AG said they are the most vulnerable to de-rating risks. Malayan Banking, or Maybank, dropped 2.9 percent to RM8.16 at 9:27 a.m. local time, set for its steepest decline since April 12. CIMB lost 1.6 percent to RM6.60. -- Bloomberg

Berjaya Land sinks to 4-year low Posted: 22 Sep 2011 07:17 PM PDT Berjaya Land Bhd fell the most in almost four years in Kuala Lumpur trading after profit in the first quarter ended July 31 plunged 96 percent to RM1.88 million. The stock sank 8.6 percent to 85 sen at 9:57 a.m. local time, set for its steepest slide since Jan. 22, 2008. -- Bloomberg

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Football: Kim Swee: We will improve Posted: 22 Sep 2011 04:53 PM PDT 2011/09/23 From Devinder Singh devinder@nst.com.my TOSU: Statistics don't lie and the numbers from Malaysia's Olympic qualifier 2-0 loss to Japan on Wednesday painted a damning picture. As anyone who watched the game would agree, Japan dominated from start to finish and the figures will attest to that. Japan peppered the Malaysian goal with 26 shots, half of them saved by skipper Khairul Fahmi Che Mat, easily the national Under-22 team's best player of the night. In contrast, Malaysia managed only two attempts, the first of which did not come until the 53rd minute with Abdul Shukur Jusoh's wayward shot before Fandi Othman had a go in the 62nd minute. Malaysia earned their first of two corners in the 81st minute and only had 32 percent of ball possession. Outplayed is putting it kindly but coach Ong Kim Swee, while admitting there is a huge gulf in standard between the two teams, said Malaysia can only improve on the display at the Tosu Stadium. "Japan are at a different level from us," said Kim Swee after watching his side beaten for the first time in the qualifying campaign for the 2012 London Olympics. "From this match, we saw how fast Japan were able to move and we were too slow at getting the ball. Japan closed us down easily in the middle and we were not able to go forward. "We need to learn the lessons from this game to apply to our remaining five matches. The good thing is that we play our next two matches at home and we have to use home-ground advantage to get back on track." Syria, who defeated Bahrain 3-1 in the other Group A match in Zarqa, Jordan on Wednesday, are Malaysia's next opponents on Nov 23 followed by Bahrain four days later. Both of Japan's goals resulted from Malaysia giving the Japanese too much space and the score line could easily have reached double figures had it not been for the excellent Khairul Fahmi. "He played very well and kept the score down for us," said Kim Swee of the goalkeeper. "It is not just about saving shots but also his ability in organising the defence and motivating the players." The state and club-based players will be released for the Malaysia Cup after returning home yesterday and those not involved in the Malaysia Cup will regroup in October for an Under-23 invitational tournament in Vietnam in preparation for the Sea Games the following month.

Badminton: Triple cheer in Tokyo Posted: 22 Sep 2011 04:50 PM PDT 2011/09/23 By K.M. Boopathy boopathy@nst.com.my LEE Chong Wei remained rock solid in his hunt for a third Japan Open crown while men's doubles Koo Kien Keat-Tan Boon Heong and Goh V Shem-Lim Khim Wah made it a perfect campaign so far for Malaysia when they advanced to the quarter-finals in Tokyo yesterday. Chong Wei faced strong resistance from China's rising star Wang Zhengming in the first game but the World No 1 stamped his class to register a 21-19, 21-14 win in 34 minutes. It should be another stroll in the last eight as Chong Wei will meet local hope Kenichi Tago, who defeated Chou Tien Chen of Taiwan 21-17, 21-11, today. Kien Keat-Boon Heong secured their place in the last eight but not without a fight from Japan's Yoshiteru Hirobe-Kenta Kazuno. The Malaysians hung on to win 17-21, 21-11, 21-18 in 46 minutes. V Shem-Khim Wah were impressive in their 19-21, 21-19, 21-19 win over China No 2 Chai Biao-Guo Zhendong in 57 minutes to set up a quarter-final clash against Kien Keat-Boon Heong. National doubles chief coach Tan Kim Her said he was not surprised by Kien Keat-Boon Heong's win but it was a timely breakthrough for V Shem-Khim Wah. "It is good to see both pairs doing well, especially V Shem-Khim Wah who have not been consistent in the bigger events. "This is their first quarter-final appearance in a Super Series event and I hope they can continue producing better results in future tournaments," said Kim Her. "Kien Keat-Boon Heong will have the advantage but it doesn't matter who wins as we will have Malaysian semi-finalists in Japan. "The fact that we didn't send a doubles coach to the Japan Open adds value to V Shem-Khim Wah's performance as our younger players rely too much on the presence of a coach." Meanwhile, China's Olympic champion Lin Dan and Chen Jin struggled in their second round matches before setting up a quarter-final encounter yesterday. Lin Dan of China slogged for a 21-19, 11-21, 21-18 win over Hong Kong's Hu Yun while Chen Jin overcame P. Kashyap of India 21-15, 6-21, 21-18. RESULTS 2nd rd (selected) — Men's Singles: Lee Chong Wei (Mas) bt Wang Zhengming (Chn) 21-19, 21-14; Lin Dan (Chn) bt Hu Yun (HK) 21-19, 11-21, 21-18; Chen Jin (Chn) bt P Kashyap (Ind) 21-15, 6-21, 21-18; Peter Gade Christensen (Den) bt Shon Wan Ho (Kor) 21-17, 21-17; Chen Long (Chn) bt Takuma Ueda (Jpn) 21-15, 15-21, 21-19. Doubles: Cai Yun-Fu Haifeng (Chn) bt Liao Min Chun-Wu Chun Wei (Tai) 21-16, 21-13; Koo Kien Keat-Tan Boon Heong (Mas) bt Yoshiteru Hirobe-Kenta Kazuno (Jpn) 17-21, 21-11, 21-18; Goh V Shem-Lim Khim Wah (Mas) bt Chai Biao-Guo Zhendong (Chn) 19-21, 21-19, 21-19; Ko Sung Hyun-Lee Yong Dae (Kor) bt Naoki Kawamae-Shoji Sato (Jpn) 21-16, 21-15.

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ROYAL FRAGRANCE Posted: 21 Sep 2011 09:57 AM PDT 2011/09/22 By Jassmine Shadiqe Being the first is not new to Johoreans and its monarchy but the latest achievement is even sweeter CREATING history by being the first is not something new to Johor, Johoreans and its monarchy. Among its firsts include being the first state to adopt the constitutional monarchy system in the country after the late Sultan Abu Bakar enforced the Johor State Constitution on April 14, 1895. Johor was chosen as Asia's first Legoland theme park and is scheduled to be opened by end of this year. The Sultan of Johor Sultan Ibrahim Sultan Iskandar got his name into the Malaysia Book of Records as the first ruler to obtain a locomotive driving licence after he turned around a locomotive weighing 86 tonnes on a railway turntable to earn a Class 26 licence. His son, Tunku Mahkota Tunku Ismail, was the first Malaysian royalty to join the Indian armed forces. The latest first was something more "fragrant". Recently, the Johor monarchy made history again -- this time for being Malaysia's first Sultan to have perfumes specially formulated and named after him. The perfumes, Sultan Ibrahim Satu (SI 1) and Sultan Ibrahim Dua (SI 2), came about after a visit by Sultan Ibrahim to Universiti Teknologi Malaysia's (UTM) Institute of Bio-product Development (IBD) early this year. As Sultan Ibrahim was briefed on the facilities and equipment, including the capabilities and skills of the researchers, he posed a challenge to IBD's director Professor Ramlan Abdul Aziz and his team of researchers to formulate a perfume that would suit him best. Choosing a perfume for oneself is already quite a task, formulating one for a man who known for his no-nonsense ways, who speaks his mind and is known for his creativeness and innovative ideas, was definitely a challenge. However, the task was made easier when Sultan Ibrahim suggested using aloeswood as the base. He wanted something masculine yet modern. Aloeswood is known by several names, including agarwood or oud. It is a dark resinous wood from the Aquilaria tree, an evergreen tree native to northern India, Laos, Cambodia, Malaysia, Indonesia, and Vietnam. It's scientific name is Aquilara malaccensis lam or Aquilaria agallocha. The Aquilaria tree grows up to 40m high and 60cm in diameter. It bears sweet scented, white flowers. The trees, when infected with a parasite fungus or mold known as Phialophora parasitica, will produce an aromatic resin, in response to the attack. The resin is highly sought after around the world. The resin is commonly called jinko, aloeswood, agarwood, oud or gaharu. The fungus and decomposition process generates a rich and dark resin in the heartwood. The resin is the product of a natural immune response and is difficult to obtain. This makes it rare and expensive. The odour of agarwood is complex and pleasing. Its essential oil gained cultural and religious significance in ancient civilizations around the world. It was also mentioned in the world's oldest written texts -- the Sanskrit Vedas from India. The team took about five months to formulate the ideal scent for Sultan Ibrahim's personality. IBD's research officer Nor Hayati Mohamed Noor, 30, who formulated the scents, came up with 10 scents using the highest quality ingredients such as gaharu, sandal wood, saffron, amber and fragrant oils such as minyak kijang and kasturi. Sultan Ibrahim picked two which he liked best. Nor Hayati said SI 1, for day wear, was sweet and fruity, while SI 2, which had a stronger scent, was suitable for night use. Nor Hayati, who graduated from UTM's Chemical Engineering Faculty, said SI 2 had a natural calming effect The perfumes were presented in exquisite 15ml bottles. The bottles were decorated with intricate designs crafted in silver and copper. The perfumes are priced at RM790 per bottle and are available at UTM's front office at Sultan Ismail International Airport in Senai. There are plans to sell the perfumes at more outlets. Sultan Ibrahim graced the launch of the perfumes on Sept 13, at ceremony held at UTM's Iskandar Hall. Also present were Menteri Besar Datuk Abdul Ghani Othman, UTM Vice-Chancellor Prof Datuk Dr Zaini Ujang, Johor Council of Royal Court secretary Datuk Abdul Rahim Ramli, UTM pro Chancellors Datuk Dr Muhammad Ridzuan Salleh and Tan Sri Dr Salleh Mohd Nor.

Joyous ‘marhaban’ gathering Posted: 21 Sep 2011 09:03 AM PDT Children from Jalan Tasek Bandar Seri Alam waving the Jalur G RESIDENTS of Jalan Tasek Bandar Seri Alam in Johor Baru recently turned up for their annual "marhaban" gathering organised by Tasek Seri Alam 1 Umno branch. The gathering was also to celebrate Merdeka Day and Malaysia Day. About 100 residents turned up for the multi-racial event. The beaming children among the crowd were happily waving mini Jalur Gemilang. Guests were feted to a spread of fruits, noodles and kuih. Tasek Seri Alam 1 Umno branch chief Sehabudin Md Ali thanked residents for making the event a success by contributing the dishes pot luck-style. The residents also chipped in to help fellow resident S. Maniam, 51, financially. Maniam has not been able to work for the past four months after suffering a stroke. Maniam said the gesture was much appreciated as it helped to alleviate his financial burden. -- By Chuah Bee Kim

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