Korean-Japanese billionaire to give away fortune

Korean-Japanese billionaire to give away fortune

 

by Shin Hyon-hee, The Korea Herald/Asia News Network|07 November 2011

 

Han Chang-woo, a Korean-Japanese businessman who founded Maruhan Corp, Japan's largest operator of pachinko parlors, said Saturday he will donate all his wealth, worth S$2.1 billion, to help improve relations between the two countries.

"I'd like to give away all the money I've made before I die. I can assure that my personal assets, except for the company to be handed over to my son and some money for my wife, will be used for the inter-development of Korea and Japan," Han told reporters in Busan.

The 80-year-old Korean immigrant was ranked Japan's 17th-richest person by Forbes last year with net worth of 132 billion yen (S$2.1 billion).

A self-made entrepreneur, Han stowed away on a ship to Japan in 1947 to shake off poverty in the aftermath of the Korean War. He launched Maruhan in 1957 after graduating from college there and expanded the business into food franchises, construction, leisure, advertising and banking and insurance. The gaming guru now generates 30 trillion won ($27 billion) in annual revenue.

Han is also known for his social contributions. When a tsunami and earthquake rocked Japan early this year, he offered 10 billion won to residents in hard-hit regions. His company has been helping build hospitals in developing countries like Cambodia and Myanmar, while hiring people with disabilities at home.

"I'm no longer interested in making money but in how to spend it," Han said. "These days I'm thinking about social responsibility activities all the time."

In addition to his personal donation, Han said he plans to boost his culture fund based in Japan to 140 billion won and an education fund to 10 billion won, which he initiated last year in his hometown of Sacheon, South Gyeongsang Province.

Evergreen founder to donate entire fortune

Evergreen founder to donate entire fortune

 

by The China Post/Asia News Network|08 February 2012

 

Philanthropist Chang Yung-fa, the founder and chairman of the Evergreen Group, has pledged to give away all his wealth, approximately NT$50 billion (S$2 billion), primarily via the Chang Yung-fa Foundation.

A 2011 Forbes estimate put his net worth at NT$50 billion.

Evergreen's billionaire founder, 84, told local media that he is worried about the increasing poverty in Taiwan, and encouraged everyone to chip in for charity. A life punctuated with charitable endeavours and good works can be sublime, Chang said.

"I will give the total amount of my money to charitable causes. My children have shares in stock holdings to sustain themselves, and if they want more they have to earn it through hard work," Chang said.

In a new oral autobiography, Chang chronicles his firm dedication to philanthropy and view that corporation responsibility should give back to the society.

The Chang Yung-fa Foundation, established in 1985, has set up a charity network through which each year more than 1,000 donations, totaling tens of millions of New Taiwan dollars, are given for medical aid, emergency relief, funeral subsidies and other charitable purposes.

Firm believer of karma

Chang said he is a firm believer in karma and that money comes around and goes around, so fortune is not something that will stay.

"My charitable endeavours are the fountain of my joy. It allows me to sleep better at night knowing that I have made a positive impact," Chang said. "And my career successes this life are the legacy of the good I sowed last life, so I need to humbly assume more responsibilities."

Chang touched on a mix of causes that include education, and his recent support for the so-called "1992 Consensus." Chang stressed the difference between charity a quick solution; and philanthropy, a systemic change to long-term problems.

"I will quietly do what I believe is right under the radar. My foundation will carry on the charitable work even after my death."

The self-made billionaire who built his empire from the ground up encouraged youth to follow his success story, and continuously reflect and refine on their life. And most importantly, "always do good, or at the minimum don't do any harm."

Wealth gap widens in Taiwan

As the wealth gap widens in Taiwan, more and more entrepreneurs, such as tycoon Terry Gou, who leads Hon Hai Precision and Wowprime Chairman Steven Dai, have vowed to do more for charity.

Their efforts should not only be viewed as an providing entitlements for the underprivileged, but rather as a movement to jump-start the motion of good will, and for society to follow suit.

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By Lockerz

12 simple santizing tips to a germ-free workspace

Thursday, Feb 02, 2012
YourHealth, AsiaOne

Eating food at your desk is probably more hazardous than off the toilet floor.

Skeptical? Well, according to a 2011 study in office hygiene by Initial Hygiene, work stations in Singapore offices are teeming with a shocking 450 per cent more bacteria than a toilet seat.

And what are the dirtiest spots in the office? They are the surfaces office workers touch the most.

The arms of the chair took the dubious honour of being the dirtiest spot in the office, followed closely by the reception chair handle and the pantry kettle handle.

Also read: Work stations 450% germier than toilet

The researchers concluded that while cleaning companies are often engaged to carry out daily cleaning in the office, emphasis is placed on cleaning only common high-traffic areas, where frequent contact from employees is noticed.

However, what is a bigger cause for concern is that unlike toilets and kitchen sinks, where most exercise caution in preventing the spread of germs, office spaces instill a sense of false security in hygiene standards.

In another hygiene study quoted by the Irish Daily Star this year, 40 per cent of those surveyed said they believed their phone was the germiest spot in the office – yet despite acknowledging this, 90 per cent said they would use another person's phone without cleaning it first.

Also read: 8 things in the office slowly killing you (which you are unaware of)

The report also said that many surveyed did not believe their arm handles were so germy.

Another study, conducted by Staples Advantage last year, found that a shocking 70 percent of employees admit to coming into the office while sick.

With Singaporean workers spending increasing chunks of their lives in the office - a recent survey found that one in five employees here work more than eleven hours daily - such attitudes towards office hygiene can be disastrous for one's health.

Here is a list of the 12 simple steps you can take to protect yourselves from the billions of bacteria and germs that are thriving on your mouse, keyboard and desk:

12 tips to a germ-free workspace

Click on thumbnail to view. Story continues after photos.
(Photos: Internet, Reuters, ST)

Overcoming stage fright

Overcoming stage fright

Edvantage | Mon Aug 8 2011

Don't let the fear of public speaking deny you that opportunity to be visible!

You are on cloud nine. Your boss comes up to you saying, "Congratulations! Your project was a tremendous success. Everyone has been talking about it. Now the CEO wants to hear from the horse's mouth how you did it. We have fixed a date for you to present in two days' time. The rest of the Company Directors will be sitting in too." You freeze!

Research has shown that public speaking is the number one fear in many people's life. Interestingly, death comes second. To quote what comedian Jerry Seinfeld once said, "If that's the case, people would rather be in the coffin than giving the eulogy!" But why is that so? Among the reasons commonly cited are:

• Fear of not getting the audience's attention when speaking
• Stage fright
• Shy
• No or lack of confidence
• Anxiety of not doing it (public speaking) well
• Not enough preparation
• Insufficient topic mastery
• Fear of being criticised
• Speechlessness and not knowing what to say
• Poor command of the language

Are you going to let a fear of public speaking deny you that opportunity to be visible and lose the chance of climbing up the corporate ladder? Acting and emceeing are some of the activities which are part of public speaking. And when one has to perform or emcee in front of a group of 1,000, will there be stage fright? Absolutely! It is human nature to feel stage fright, especially when one has to speak in front of a crowd. Nevertheless, fear or stage fright can be managed and the experience of public speaking made pleasant if not enjoyable. Undergoing actor and drama training is one good way to acquire the skills in managing stage frights. In drama training, you are put into uninhibited moments - which will automatically make you feel less fearful. The training may be tough sometimes but it does pay off with all the necessary techniques you can use. Giving a presentation is like putting up a performance. Here are 5 tips to overcome stage frights, especially for those who will be speaking for the first time:

1) Warm Up - It is always good to "start the engine" and warm up. By warming up, our body will get to acclimatize and will be ready for any activities. When one is fearful, the body starts to contract and feel "cold". So a warm-up is definitely a good antidote. Just do a simple head rotation, stretch your arms, wriggle your fingers and toes, and warm up on the breathing as well. Theatre games are very useful activities to keep the body warmed-up before a presentation. 2) Speak positively about the presentation to yourself - Believe in yourself. Talk about the good things. Visualise the success you will get at the end of the presentation. About an hour before a show, actors would spend time alone in a corner of the dressing room - visualising the process of the show and equally important, the standing ovation they "see" at the end of the show. This positive energy helps you to get mentally prepared. 3) "Overprepare" - Do "overprepare" for your presentation. Do not just stick to the content that you have already prepared. Think of possible questions the audience may ask, or have extra stories or jokes up your sleeves in case you go under-run. Do ample rehearsals on the speech and practise using the correct body language.

Learn improvisational skills as well. These are particularly useful skills for presenters. You may or not use them in a presentation, but should things go wrong on stage, you can "activate" improvisations and make things look smooth as if nothing had happened. 4) Get to know some members of the audience beforehand - Have you ever entered a room full of people but you know no one? In those very first few moments, we feel awkward. It is after we get to know some of the people that we will start to feel at ease and open up. It is good to know some members of the audience before the actual presentation. This makes you feel more at ease - more importantly, they could be your allies and supporters during the presentation! 5) Memorise the Introduction and Conclusion - Sometimes it is a challenge to memorise scripts. So, do not memorise. How do actors or emcees appear confident speaking on stage? They use keywords to help them deliver their lines - as long as the messages stay the same.

In fact, humans have longer lasting impressions on the first and last moments with whoever they met with or see. Why not use that to an advantage? Give the audience an impactful opening and memorable closing - that could make your presentation a lasting one in their minds. Get familiar with the techniques mentioned above. As a result, you will feel more confident in public speaking. Give it a go. It will just be a matter of time before you get use to it, and before you know it, you are enjoying public speaking. Article by Hazriq Idrus, an actor, host/emcee, drama enrichment and corporate trainer with Firefly Horizon. Hazriq will be speaking at the SIM Members' Day on 20 August, 2.30pm-4pm on the topic "Ignite the Stage!" Registration at only $5 at www.sim.edu.sg/membersday

Please, teach me the art of packing light

Please, teach me the art of packing light

my paper | Mon, Oct 17 2011

Tips on how to pack light.

Keywords

• southeast asia
• singapore
• general
• packing
• travel
• tips

WHEN it comes to packing a bag for other people, I can honestly say that I rule.
One friend of mine, who travels to London every six months or so to see her boyfriend who lives there, always calls me for help in the packing process.

"You need to come over," my friend - who's admittedly a bit messy - will say, breathing hard into the receiver. "I've overpacked! You need to edit my clothes down!"
And edit I will.
I will pull outfits together for her, mercilessly make her toss out that extra black T-shirt, and axe that party dress she really won't use twice.
I even make her fold her underwear - which she, if left to her own devices, crams into a corner of the suitcase - into neat piles.
By the end of each session, her suitcase will usually contain half of what she originally intended to take with her, and she will thank me with a generous portion of her mother's home- made bee hoon.
Alas, when it comes to packing, I have a hard time being tough with myself.
If I am given a 20kg weight allowance, I will use every gram of it on the flight out alone.
I never know how it happens. Is it that extra handbag I always take with me, thinking that I'll carry it to a fancy dinner, or that large-ish bottle of shampoo I thought I'd die without?
Problem is, I just don't know when to stop adding to the "must-take" pile.
Yet, in my wildest dreams, I travel with nothing more than a backpack - just like a clever friend of mine who will not travel with anything more than that (she hates waiting at baggage claim).
But let's be serious: I'm just not that kind of gal.
Still, I really don't want to turn into Rachel Zoe, who tweeted a photo of the 13 bags she took with her to Paris Fashion Week last month.
The art of packing light is turning into a matter of practicality as some airlines clamp down on baggage allowances.
Most will also no longer turn a blind eye to the extra kilos you thought you might get away with.
Plus, in an age of budget travel, who doesn't like to travel with 10kg instead of 20kg, helping to save that extra buck?

Boy, 8, is now an Internet tycoon

STORY


Tuesday, Nov 15, 2011
AsiaOne



Boy, 8 is now an Internet tycoon

Some people are simply meant to be entrepreneurs. Harli Jordean is certainly one of them - at the tender age of eight.

Believed to be the world's youngest CEO, the tiny tycoon started his own marbles company, Marble King, at primary school, and it soon became an Internet phenomenon.

It all started when older boys nicked his stock of marbles that he trades with his friends at the playground, reported The Sun.

His 51-year-old mum, Tina, tried to help him replace them, but realised that no one on the Internet could help.

The tot then begged her to let him start his own Internet company, and with that, his marble empire was born.

So while most of his pals are playing, he is instead liaising with suppliers, buying stocks and handling orders for Marble King, his thriving, two-year-old business.

The London-based kid told the paper: ""My dream is to have a chain of stores like Hamleys - it will be one of the biggest toy stores in the world but selling all sorts of marbles.

"My friends love that I have my own business. At first some of them didn't believe me - but they do now. They are some of my best customers.

"I love marbles and I love having my own marbles company."

A simple tub of marbles at Marble King goes for 7.99 pounds (S$16.40), while a limited edition Duke of York solitaire tables can set you back 599 pounds.
In an interview with The Sun, his mum, Tina said: "Harli has been obsessed with marbles ever since he was six.

"His obsession became so big we started calling him the Marble King - so when he wanted to set up a website it was the natural name for it.

"I never thought it would become so popular - we are struggling to cope with the number of orders at times.

"I helped him set up the site, but he's now trading with the world instead of just the playground all on his own, he has a hand in everything.

"As a boss he is very amenable and has his own ideas of how to do things."

With thousands of pounds a year as turnover and with orders from as far as the US, Harli has employed his mum and two older brothers to help him cope with the demand.

The businessman, who loves being the boss, thinks delegation is the key to success, and told The Daily Mail: "I like being the boss, but I like to get others to do some of the work so that if something goes wrong it is not all my fault."

But lest people think he's just a figurehead, his mum says he's quite hands-on.

She told The Daily Mail: "Harli has a hand in everything. He picks out stock at the suppliers and when orders come in he handles it all, packing, sending - everything.

"All I do is the accounts and try and reel in his overenthusiastic ideas.

"He's very dedicated even getting me to drive him to deliver a package when we realised it wouldn't get there on time in the post."

His next goal: his own Marble King-produced marbles.

Tina relates: "At the minute he is pestering me about creating his own Marble King marbles - so that could well be the next step for him."

How to beat the market and become a super investor - Koon Yew Yin

How to beat the market and become a super investor
- Koon Yew Yin         

Risks in doing business:
It is important to stress that all businesses involve risk; hence the selection of shares is also a risky business. This is not the same order of risk as may be involved in going to the casino or betting on the four digits which in 90-99 % or even more of the cases, results in the patron losing his money, if not his pants.

Picking winning stocks means that we pick the companies that can meet the constant challenges of competition, supply and demand, change of fashion and style design, obsolete stocks write off, etc. There are also unforeseen factors such as variation in interest rates, import and export restriction, foreign exchange variation, change in Government regulations, etc. Inclement weather such as flooding affects production as we have seen in Bangkok so that even the most well run of companies such as Toyata and Honda cannot escape it.

Best form of investment
In my view, stocks are the best form of investment. They are tax free, have no management problem, and you can reduce or liquidate all your holdings at any time. There is a classical saying in the market - “You can buy the winning horse after the race”. This means that you can still buy a good share after the company has announced its profit. This does not mean that stocks are entirely risk-free

Fundamentals of Stock Selection
The basic fundamentals for share selection are P/E ratio, NTA, Revenue, cash flow etc. How important are these factors?

The most important criterion is profit growth prospect. Never buy any share if the company cannot make increasing profits. You must buy shares that Fund managers are interested. They are the movers and shakers. Do not buy too much of illiquid shares because it is cheap. It is cheap for some reasons which may keep it at basement prices.

The main reasons why share prices go up include the following:
a. Exceptionally good profit growth prospect
b. Fund managers must be interested, liquidity, publicity etc.
c. Dividends are an important catalyst for moving share prices up
d. Unexpected good news of profit, bonus issues etc. will push up share prices.

When to Sell
When to sell? Do not worry about the daily share price fluctuation if you have a target price. Quite often the share you hold can move up rapidly and continues to go up. You must remember that no share can go up indefinitely for whatever reason. Sell when you are not willing to buy at the price or the reason to buy is no longer valid. Remember you must sell so that you can have funds to buy back during correction. If the fundamentals have not changed, the share price will go up again.

What to Buy
After having seen so many unexpected surprises in the stock market, I consider the safest shares to invest are undervalued oil palm shares. The reasons are:-
a. The production cost for CPO is about Rm 1,300 per ton and the average selling price has been more than double the production cost in the last 10 years or more. The average CPO price for 2011 is more than Rm 3,000 per ton. Which business can offer such big profit margins?

b. The demand and profit are sustainable due to population increase. Moreover, both China and India who are our buyers have been improving their economy. The financial problem in Eurozone and US has little or no effect on our palm oil market.

c. A palm tree will start fruiting after 3 years. It will continue to bear more fruits until it is about 16 years old after that age it will begin to bear less fruits. Only after about 22 years a palm tree needs replanting.

d. The land always appreciates in value.

e. There is good profit growth prospect and sustainable profit

I am obliged to tell you that plantation shares form the major part of my investment portfolio. If you decide to buy, I am not responsible for your profit or your loss.

How to become a super investor?
I started serious investing in public listed shares when I retired from executive work at 50 years old. I was not an accountant nor have I a MBA degree. I was just a civil engineer and I hardly knew how to read a balance sheet at that time.

I started by reading to understand the basic fundamental principles of share selection as practiced by Warren Buffet, Peter Lynch and other great investment gurus. These are the key traits to being a super investor that I picked up.

Trait 1: Be a contrarian investor, that is, the ability to buy stocks while others are panicking and sell stocks while others are euphoric. In 1983 when China declared that they wanted to take back Hong Kong, the people were selling as if there was no tomorrow because the Communists were coming. The Hang Seng Index plunged to about 700. Currently it is around 18,500.

In such a situation at that time, would you buy Hong Kong shares? I did.

Trait 2: Obsession in playing the game and wanting to win. Winning investors don’t just enjoy investing; they live it. They wake up in the morning and the first thing they think about, while they are still half asleep, is a stock they have been researching. They are thinking about selling, or what the greatest risk to their portfolio is and how they are going to neutralize that risk.

They are obsessed in enhancing the value of their holdings. I am that way.

Trait 3: The willingness to learn from past mistakes. Most people would much rather just move on and ignore the dumb things they’ve done in the past. I believe the term for this is repression.” But if you ignore mistakes without fully analyzing them, you will undoubtedly make a similar mistake later in your career.

Trait 4: An inherent sense of risk based on common sense. Most people believe analysts’ reports which are often ‘a buy’ recommendation. It is very seldom they recommend ‘a sell’ because they would lose the business from the company he has recommended ‘a sell’. You must always take any analyst report with a pinch of salt.

I believe the greatest risk control is common sense which is not so common sometimes.

Trait 5: Confidence: Great investors must have confidence in their own convictions and stick with them, even when facing criticism. Buffett never got into the dot-com mania though he was being criticized publicly for ignoring technology stocks. He stuck to his guns when everyone else was abandoning the value investing ship. He was proven right when the dot com bubble bust.

Trait 6: Clear thinking. When considering a share, you must try to understand the nature of the company’s business and its inherent difficulties so that you can evaluate your risk exposure. There are a lot of people who have genius IQs who cannot think clearly, though they can figure out bond or option pricing in their heads.

Trait 7: And finally the most important, and rarest, trait of all is the ability to live through volatility without changing your investment thought process. This is almost impossible for most people to do. When the market makes a severe correction, most people dare not buy more shares to average down or to put any money into stocks at all when the market is plunging. They would begin to doubt their own judgement.

Wishing you a season of happy and profitable investing!

Koon Yew Yoon is a prominent civil society leader and one of the founders of IJM Corp. He also reads Malaysia Chronicle.