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Thursday, 6 November 2014

6 top things that Singaporeans do when using their smartphones

6 top things that Singaporeans do when using their smartphones

6 top things that Singaporeans do when using their smartphones

SINGAPORE - Singapore has once again topped the world, and this time it is in smartphone adoption and usage. The country's smartphone adoption rate stands at 85 per cent on the recently-released Google Consumer Barometer.

It is ahead of countries such as South Korea (80 per cent) and Sweden (75 per cent).

According to the research, these are the top six activities that Singaporeans engage in using their smartphone:

1. Use search engines (77 per cent)
That's only because a search engine is usually the default home page for people's mobile Internet browser. Apart from that, Singaporeans also use search engines to check food reviews to find out what they should have at a restaurant - when the waiter arrives to take their order.

2. Check e-mail (76 per cent)
People frequently check their e-mail on their phone even when they are not in the office, as they are expected to reply to e-mail immediately. Setting an out-of-office e-mail notification does not stop their bosses from contacting them after office hours.

3. Visit social networks (69 per cent)
Singaporeans aren't being anti-social when they tap away at their phones while in a group outing. No, they are actually being extra-social by reaching out to friends and family outside of the group they are currently engaged in.

4. Take photos/videos (66 per cent)
It's a three-way split between selfies, pictures of food, and cat videos.

5. Watch online videos (55 per cent)
Singaporeans love their online videos, and 35 per cent of those who watch videos on their smartphone do so while walking at a snail's pace along narrow, crowded corridors.

6. Look for product information (49 per cent)
Many do this while shopping at a retail store - to see if they can get the same product cheaper online, or whether there's a seller on digital marketplace Carousell.

Source: Google Consumer Barometer Website

The Straits Times (Singapore)    6 November 2014
 

Friday, 31 October 2014

Dad's money values still guide tech director

Dad's money values still guide tech director



Mr Nick Hawkins, senior director of advanced technology at video collaboration solutions provider Polycom, with his wife Sue and their two dogs at the porch of their home in Onan Road, in Joo Chiat.

The Business Times
The value of money was instilled into Mr Nick Hawkins early on, when he was still a young boy.
His parents taught him that "nothing comes for free".

From the tender age of five, the former Briton started setting money aside regularly, later doing morning and evening paper rounds. He got his first full-time job at 16, and would wake up at 5am on weekends to head to the supermarket where he was a baker. Today, he is a senior director of advanced technology at video collaboration solutions provider Polycom, which has its headquarters in California.
 
 
 
Mr Hawkins moved to Singapore 10 years ago with the company.

He became a citizen 18 months ago and lives in the east with his wife Sue, a Briton and permanent resident here who works at the company, and their two Irish setters.

Dad’s money values still guide tech director
 
But thanks to Polycom video technology, Mr Hawkins still gets advice from his father, a finance professional who lives in Britain, "whether I like it or not".

"Still, he was a strong influence in setting my financial philosophy from a fairly young age," says the 45-year-old, adding that his investment philosophy is one of balance.

"It's easy to chase the quick returns but that tends not to be sustainable, and tends to be more luck than judgment." Mr Hawkins looks for solid, stable investments that will grow and deliver value over time.

"You should always start earlier. Probably, everyone looks back and thinks they should have started saving earlier than they did.

5 common mistakes that lead to bad investment decisions
  • Let's face it. Your chances of success are grim.<p>"The results [of the performance of wealth advisers over an eight year period] resembled what you would expect from a dice-rolling contest, not a game of skill." -Daniel Kahneman, winner of the 2001 Nobel Prize in economic sciences.
  • Warren Buffett: His average annual returns are 13 per cent better than the market (1971 - 2011).
<p>Sir John Templeton: Quadrupled his investment in 4 years when Hitler invaded Poland.
<p>Benjamin Graham: 21 per cent annual returns over 20 years.
<p>Peter Lynch: 29 per cent average annual returns between 1978 and 1990. Beat the market 11 out of 13 years running Magellan fund.
  • <p>The stock market is composed of risk-takers.
<p>Men and younger individuals are more inclined to take risks. Women are 20-50 per cent less likely to take risks at any age level.
<p>Risk-taking is genetic: Carriers of the risk-averse gene take 28 per cent fewer risks.
<p>50 is the age at which risk-taking behaviour peaks before beginning a decline.
  • Investors often want immediate results.
<p>They ignore long term positives.
<p>Companies focus on short term results to reach quarterly numbers.
<p>When there is a slight tumble, investors pull out, the stock drops.
<p>In 2011, concerns over the Fiscal Cliff and the European debt caused investors to pull out nearly $115 billion in stock funds. In the end the market rallied to a 16 per cent total return, even when all signs pointed to an improving economy.
  • Loss aversion: The tendency to strongly prefer avoiding losses to acquiring gains.
<p>Introduced in 1979 by Daniel Kahneman and Amos Tversky who worked under the assumption that the prospect of losing money has a larger impact on decision making than the prospect of making money.
<p>If faced with a 50 per cent change of winning $200 and a 50 per cent chance of losing $100, most investors will always lean towards avoiding a $100 loss.
  • Sunk cost fallacy: The notion that a company or individual will continue to sink money into a failing investment due to the amount of time and money already invested.
<p>Sunk cost dilemma: The dilemma in which investors find themselves when they have to decide between uncertain success over certain loss.
  • 22: The number of milliseconds it takes for the cerebral cortex, the part of the brain concerned with decision making and reasoning, to receive news of risky information.
<p>The price paid for an investment should have no bearing on whether or not you should buy or sell.
<p>This results in:
<p>1. Selling a stock prematurely, and
<p>2. Hanging or buying more of a losing stock, known as "catching the falling knife."
  • Never buy because something looks cheap.
<p>Low share price does not always mean a good deal.
<p>Eastman Kodak: $0.20/share but bleak future prospects.
<p>Berkshire Hathaway Inc: More than $145,000/share but excellent future prospects.
<p>Always buy based on current and future prospects.
  • You think just because everyone you know is doing it, it must be the right thing to do
<p>Dutch tulip mania: After the introduction of tulips to the Dutch in 1593, their relative rarity and novely - due to a virus that caused their colors to change -  resulted in huge spike in price, prompting investors to trade land and life savings to acquire them. After the virus spread, the price came crashing down, resulting in many people losing their livelihoods for a flower.
  • <p>1. Forces investors to miss out on the bottom floor of booming markets.
<p>Very few bought stock in now big-name companies such as Apple, causing others to follow suit. The end result was missing out on what turned out to be one of the greatest investments ever.
<p>Often perpetuated by the financial media.
<p>2. Prevents you from getting out before the market hits the top or when you sense danger.
<p>Emotions. not logic, rule decision making in the stock market.
Q: Are you a spender or saver?
I was probably a bit more of a spender than I should have been when younger, but am definitely more of a saver now. I believe you've got to have balance - have a bit of fun, but be cautious about what you choose to spend on. As I'm not getting any younger, it's become more of a focus now to put money aside for retirement.

Q: How much do you charge to your credit cards every month?
A few thousand dollars. I love my KrisFlyer American Express card and try to put all my purchases on it. We use the miles to go on holidays twice to thrice a year, one of which would be a longer holiday. Back to the spending versus saving - don't save too much, be prepared to spend every so often and relax.

Q: What financial planning have you done for yourself?
Apart from life insurance, the rest is a mix of shorter- and longer-term investments. On the shorter-term side, I invest in the United States stock market. Being a technology director, I tend to invest in technology companies I am familiar with - they have good businesses, are strongly differentiated in the market. Apple is a good example, as are Microsoft and IBM.

I read news reports on a company and its press releases, and get a feel of its health. A key thing is understanding the company and what it does, what solutions it offers.

I let my financial planner manage the longer-term investments, including investment bonds.

Q: Moneywise, what were your growing-up years like?
I got a lot of investment advice from my father early on - basic guidance such as: It's not what the bank will lend you, it's what you can afford to pay back.

Q: How did you get interested in investing?
Through my dad, and also realising when I was in my late 20s, that if you want to be able to live comfortably and retire - that is, be financially stable and work flexibly - you need to do more than work, earn your wage and spend it; you've also got to plan for the future.

At that point, I realised you need better returns than you're going to get from just putting cash aside. You've got to make your money work a little harder.

I started buying my first shares then. When I moved here in my mid-30s, I realised that to do it well would require a lot of time and attention, so I got a financial investment professional to look after the majority of my investments.

Q: What property do you own?
A 1930s shophouse in Onan Road, in Joo Chiat. We bought it about seven years ago, before the prices got too crazy. We renovated it, keeping many original features where we could, including old Chinese carvings, and not having air-conditioning downstairs to let air naturally flow through.
We love it; it's our little oasis. We own the majority of it - still paying the mortgage.

Q: What's the most extravagant thing you have bought?
My cameras - I've four, mainly Nikon digital cameras, and about half a dozen lenses.

I've been into photography since I was a teenager, and take them out every time I go travelling. Over the years, I've probably spent $10,000 or $15,000 on camera equipment.

Q: What's your retirement plan?
Before moving here from the United Kingdom, I made sure I got professional advice - affairs such as pension money tied up in the UK get more complex when moving to another country.
So I have that, and save money as I work here.

Hopefully if Polycom does well, I'll be able to retire sooner rather than later! For me, retirement is about continuing to work, but maybe taking advantage of Polycom technology - working more flexibly, with a more consultative role and more control over working hours and level of commitment.

My idea of retirement is about being financially secure and not having to work, but wanting to work. If I can reach that sort of financial stability in my 50s, I would consider it a success.

Q: Home is now...
The shophouse

Q: I drive...
An 18-month-old Mitsubishi ASX. It's an SUV crossover, giving space for our dogs when we want to take them to the dog run or the beach.

An important consideration in our purchase was whether we could fit them in. We probably looked a little strange when checking out cars. Instead of looking at the engine or the interior, we'd go straight to the back of the car with a measuring tape to see if the dogs could jump in.
Rich S'poreans prefer to stash their wealth in cash
 
WORST AND BEST BETS
Q: What is your worst investment to date?
Canada's Northern Telecom (Nortel). It declared bankruptcy in 2009. That's an example of where more research would have been ideal. You live and learn; now I stick with what I know and do more research than I used to, in terms of a company's general health, profitability and cash flow

I tend to buy and hold for the long term, and have held my portfolio for about three to four years. I had the Nortel stocks for three to four years as well, unfortunately also chasing them downhill - it's cheaper, so you keep buying and get emotionally attached, which you shouldn't do, thinking it'll recover - eventually doing more research and saying no, you've got to cut your losses.

I probably lost $5,000 to $10,000 on the stock.

Q: What is your best investment to date?
Apple, without a doubt. I bought into it three to four years ago, and have probably nearly tripled my investment
 
 

Thursday, 30 October 2014

You gotta be digital-savvy to land next job

You gotta be digital-savvy to land next job

Young and old alike have to be part of the digital revolution if they want to secure their dream job. – flickr pic, October 31, 2014.
Young and old alike have to be part of the digital revolution if they want to secure their dream job.

Can you understand and drive digital strategies?

 If not it’s time to learn how, because in our increasingly digital lives almost every job now has a digital element to it.

That’s why digital skills have become a necessity for anyone looking for their next job, says recruiting experts Hays.

According to Hays, we all live in a digital world and whether we like it or not, most of us now work in digital jobs.

“The digital revolution has touched the lives of virtually every consumer and business around the globe,” says Christine Wright, Managing Director of Hays in Asia. 

“As a result digital strategy – and along with it digital literacy – is growing in importance.

“From CEOs assessing the threat of cyber crime to marketers looking for the latest trending platforms, digital skills are now needed at all levels in most job functions.

“For example, rather than customer service representatives in call centres, today, we see more live chat attendants who will interact with customers online and on social media.

And rather than traditional sales forecasts that were based on the intuition of sales reps, today people are using big data to make more precise predictions.

“Even today’s senior manager needs digital expertise to be able to locate knowledge, assess how valid it is, and then work with others to determine what to do with it.”

In recognition of this new digital age, education systems need to adapt.

For example, in autumn 2015, the United Kingdom will become the first country in the world to make it compulsory for children to learn coding from the age of five through to 16.

 It’s a move that should be adopted in this country, too, says Wright, if we are to produce the next generation of well-rounded professionals.

Tips for jobseekers
For jobseekers to take advantage of this new jobs growth, Hays says it is important to update your digital skills.

“Regardless of the profession or industry you work in, organisations want to recruit, retain and develop digital skills across their entire business.

“All jobs now have a digital element, whether that’s creating an app rather than a PowerPoint presentation for your next talk, generating leads on social media or producing digital content.

“Given the fast pace of technological advancement, employers look for candidates who are open to change and can adapt to a constantly evolving digital environment – whether that’s in their marketing, accountancy or logistics department.

"Digital changes are impacting on all aspects of business and candidates today need to show they are digitally proficient, up-to-date with the latest technological advances related to their job function and industry, and possess the ability to lean into the changes of a digital world.”

Tips for employers
For employers, the focus is shifting from observing digital trends and looking at where the organisation falls short, to developing the talent it needs to make and lead new trends. This means recruiting people who can understand and drive digital strategies.

“The digital world has afforded us all the benefits of rapid technological advancements, making it possible for businesses to reach people instantly from across the globe,” says Wright.

“For example, at Hays we can compare hundreds of thousands of résumés of candidates in multiple countries in an instant.

“But such advances can only be made with the skills to support them. The challenge for businesses is to find and continue to develop those skills so that they stay on top of emerging trends.” – October 31, 2014.
* Article courtesy of Hays, the leading global specialist recruiting group.

 

Sunday, 28 September 2014

Social media-savvy Malaysians

Report from The New Straits Times (Malaysia) dated 29 September 2014 :-

Social media-savvy Malaysians
CONSTANT connectivity and digital media have enabled Malaysians to leapfrog to be one of the most socially engaged markets in the world.

According to findings from TNS’s Connected Life study released last week, 62 per cent of Internet users in Malaysia access social media networks daily, compared to 42 per cent globally, while 52 per cent use instant messaging every day.

For over a third of Internet users here, the screen of their mobile phone is the first face they see in the morning, with 35 per cent reaching for their mobile phone before they even get out of bed, while 34 per cent use their phones in bed before they go to sleep.

This usage contributes to the 4.5 hours of leisure time Internet users in the country spend online every day. Much of this screen time is spent in staying more connected. And while 59 per cent admit to spending a lot of their time on social media, email is still an important channel, with over 58 per cent sending personal emails on a daily basis.

Facebook is by far the most popular application, with almost half of Internet users here identifying it as their favourite social platform (48 per cent) and 88 per cent visiting the site weekly. WhatsApp is not far behind for weekly use, at 72 per cent of Malaysian Internet users, however it’s the favourite platform for just 19 per cent of the population. 
 
While Malaysian Internet users may have their favourite platforms, they do use a wide range of different services to stay connected - far more than is seen globally. 
 
While digital devices are never far away, they continue to engage with traditional media. They watch just under 80 minutes of TV daily, primarily during the evening when a quarter of Internet users will turn on the set.

“Our study has shown that Internet users in Malaysia are among the most attached to their digital devices of everyone we studied,” says Joe Webb, head of Digital, APAC, TNS. “We’ve been hearing about the declining influence of traditional media for some time, and the extent to which social media and digital devices have taken hold in Malaysia really shows this to be true.

However, with traditional media continuing to play a role at particular times of day - TV in the early evening at dinner time, for example - there’s an opportunity for brands to truly integrate their marketing like never before. “

Going online for entertainment is also popular in Malaysia, with 47 per cent of Internet users streaming music or radio every week, 62 per cent watching on-demand video and 44 per cent watching paid TV or movies online every week.

Webb concludes: “Internet users in Malaysia are hungry for content and conversations. We’re seeing high levels of engagement with content and a desire to stay connected with friends and family.

So while the medium has changed, the motivations haven’t. There’s a strong opportunity for the media owners who really understand these behaviours.”

Thursday, 18 September 2014

Learning without boundaries through online courses

Learning without boundaries through online courses




Malaysians are exploring niche areas of study via online courses, and it’s shifting the educational landscape.
PETALING JAYA: Massive Open Online Courses (MOOCs) are about widening my horizons and going out of my comfort zone to learn things I did not get to pursue in university, says computer science graduate and IT service provider Ricky Soo.

Soo is among an increasing number of Malaysians actively pursuing Massive Open Online Courses and believe they are a valuable educational tool that expands one’s knowledge and skills, at virtually no cost whatsoever.

MOOC portals have popped up in the last decade, but only gained real prominence of late.

Some of the well-known ones are Coursera.org, Stanford Online, Open Education Europa, edX, and udemy, which offer hundreds of free courses from top universities worldwide.

Courserian Soo , who actively organises local ‘meetups’ between other Courserians and online learners, says he delved into MOOCs because he wished to discover new things.

Soo is one of the administrators for the Coursera Malaysia Study Group (not affiliated to Coursera), created for members to discuss and share their MOOC experiences.

To date, the Facebook group has over 200 members, though only a handful show up for the meetups.

“The first meetup I organised, only seven people turned up. Each person shared something they learnt on Coursera. We then did a few follow-up sessions on learning in general, and those became popular,' he explains.

These meetups, Soo says, are important to retain the social aspect of learning, as MOOCs limit the amount of physical interactions and discussions between students.

The peer assessment format is also a refreshing change from the norm, says Soo, who is a firm believer in the “wisdom of the crowd”.

“When you have such a large number of students in one class, those assessing your work are anonymous and also random. They have no motivation to be biased or unfair towards you,” he said.

With the growing appeal for MOOCs, which also provide paid options for those seeking further accreditation, Soo believes traditional institutions will struggle to cope if they cannot reinvent their business model.

“Definitely, it is going to be quite hard for some tertiary institutions, especially if educators are not open to it. But disruptive change can be good, as long as they are prepared to embrace it.”

Evolving from the concept of distance learning, MOOCs provide a full-fledged learning environment in the form of lecture videos, notes, reading materials, assignments and discussion forums.

They have no age limitations or restrictions based on academic qualifications as MOOCs commonly cater to beginners. Advocates say it is the perfect platform for students and professionals, both young and old, to seek niche areas of study outside the domain of conventional education.

But despite the apparent ease with which they can be pursued, online learners believe there are challenges for Malaysia to adopt MOOCs holistically .

School teacher Apple Aipei, 26, says the relative rigidity of the local education format will make adapting to MOOCs harder.

“In Malaysia, we have a fixed path to follow, from primary school all the way to a university degree, and perhaps Masters and PhD. In the West however, people are more likely to experiment with different learning pathways.”

Apple, who has completed several MOOCs in the past, also believes employers have yet to value the certificates and qualifications obtained via this method.

Fellow Courserian Dr Foo Chee Yoong, 33, agrees, saying that during interviews he had attended in the past, companies were surprised to find out that he possessed these “side qualifications”.

Dr Foo, who works at a research institute under the Health Ministry, says staff in his department are encouraged to upskill themselves by taking up MOOCs.

“MOOCs are a more cost-effective way to train your staff, because getting expertise from outside is expensive and time consuming.

“However, despite the push to upskill, very few staff actually take up the offer. We try to provide incentives, but the response is still lukewarm.

In Malaysia, one of the main proponents of the online learning initiative is MyMobileUniversity, a platform that hosts hundreds of online and digital learning resources, including MOOCs.

Its chief operating officer, Rani Wemel, says the portal was set up to provide free and quality education to a larger segment of the population, many of whom are not privileged enough to gain access to such learning platforms.

“MyMobileUni started out as a one-page CSR (corporate social responsibility) project ten years ago. But it has since become a social enterprise, with over 20 channels on our webpage linking access to a range of online learning resources.

“We have content for all ages and for all disciplines, whether its marketing, branding, health, academia, or even pre-school learning,” she says,

Wemel, who is also co-founder of MyMobileUniversity, believes it has become increasingly crucial for graduates to leverage on online learning in order to re-skill or upskill themselves, which would altogether improve their job prospects.

With over 2,000 MyMobileUni subscribers to date, she feels educators should not be afraid to embrace this new form of learning.

“Malaysia has the infrastructure to implement this, and in fact, it has already been outlined in the National Education Blueprint. It’s only a matter of setting an effective timeline and not delaying its implementation.

“MyMobileUni also has special focus channels for teachers to equip themselves with new content, basic things like optimising the use of online learning aids. It is a way for them to upskill themselves,” she said.

The next step for MyMobileUni is to encourage corporations to get onto the bandwagon and train their staff through digital resources.

“We are currently approaching these organisations and asking them to create a channel with us for a nominal sum. We will help them curate the learning resources they think is useful for their staff," says Wemel, adding that the company recently launched its iOS and Android mobile applications to enable greater access to learning resources ‘on the go’.

------ The STAR (Malaysia)    19 September 2014