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.

Rennie Whang

The Business Times

Friday, Oct 31, 2014

 

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

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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

 
 

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.

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.

 

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.”

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

No job satisfaction? You’re in good company

No job satisfaction? You’re in good company




File picture shows Malaysian government employees working inside the Land Public Transport Commission (SPAD) office in Putrajaya. — Reuters pic

KUALA LUMPUR, Sept 19 — Finding your job to be soul-sapping and unfulfilling? Fret not, you’re not alone, because only one in five Malaysians are content in their current employment, according to a recent survey on global well-being.

The lack of job satisfaction is such that it is the only one of five measures of wellbeing — purpose — in which those “suffering” outstrip respondents who consider themselves “thriving”.

Still, Malaysians are generally a satisfied bunch, according to the 2013 poll by American pollster Gallup and US-based well-being company Healthways Global, which showed Malaysians topping others Asians in each of the five well-being categories measured: purpose, social, financial, community and physical. 

“The only element in which Malaysians are more likely to be suffering (28 per cent) than thriving (20 per cent) is purpose well-being, indicating many do not feel fulfilled in their jobs or daily activities,” said the survey released Tuesday that polled 135 countries.

The purpose well-being category is defined as “liking what you do each day and being motivated to achieve your goals”.

Although there are more Malaysians who find their jobs unfulfilling than those who turned up at work with a spring in their step, respondents reported higher rates of satisfaction than others worldwide on other measures.

In terms of feeling safe where they lived and liking their surroundings, 37 per cent responded positively, while the proliferation of text messaging apps and the popularity of social networks here saw over one in three respondents saying they were happy socially. 

“As in many Asian countries, young people in Malaysia have been much more likely than those in older generations to embrace social media.

In particular, the popularity of messenger apps like WhatsApp and LINE have exploded in popularity among young Malaysians,” said the report.

Slightly more than a quarter of Malaysians (28 per cent) said they were thriving in financial wellbeing, compared to 25 per cent in Asia, with the report attributing Malaysia’s score to the upper middle-income country’s low unemployment rate of 3 per cent.

A total of 29 per cent of Malaysians are thriving in physical wellbeing, the report found.

The survey noted that almost one out of four Malaysians (24 per cent) expressed satisfaction in three or more well-being categories, higher than the Asia region (14 per cent) and globally (17 per cent). 

 “These positive results are likely attributable in part to the Malaysian government’s focus on productivity-enhancing reforms, poverty reduction, and economic diversification, as reflected in its investments in infrastructure and human capital,” said the survey. 

“Malaysia’s healthcare system is generally seen as efficient and broadly accessible, and the country’s booming medical tourism sector has helped promote investment in high-quality medical facilities while keeping the cost of healthcare services competitive,” said the report.

The survey further said Malaysians are twice as likely to be thriving in four or more well-being categories at 12 per cent, compared to the Asia region’s 6 per cent. 

“There is much room for improvement, but such gains are likely if the government continues its focus on favourable investment conditions and the broad-based development of human capital,” 

 It pinpointed efforts to make education more accessible and the push into new industries as among strategies that could help address Malaysians’ low levels of job satisfaction and improve their financial standing.

According to the survey, the happiest country in the world is Panama, with other Latin American and European nations comprising the top 10 countries thriving in three or more well-being categories.
---- 19 September 2014

I Quit! (Are you sure?)

I Quit! (Are you sure?)




If you want to have a big life - by that I mean you are living your passion - a focus on making your own luck is key. This is especially so if you feel your current job is holding you back.

When it comes to making the move into that occupation you have always wanted to try, the one you might have talked about for years, fortune really does favour the brave. You need a willingness to take a chance and be brave enough to let instinct guide you.

I write from experience. To date I have led an assorted, fortunate professional life working in sports management, as a university lecturer, board director, chairman, and now as chief executive.

Transitioning from one role to the next required large steps out of even larger comfort zones, but I did so because I have always been a curious person and never wanted to be left wondering 'what if?'

Do you want to be the one in the nursing home with the best stories, not the biggest frustrations? That is the question that motivates me.

Knowing when to make a career change can be challenging. For some it is a matter of impulse while for others, it is a decision they dwell on for years. Neither is perfect. Notwithstanding that you and others reading this will be at different stages of your professional and financial development, if you are entertaining the idea of job change, here is what I have learnt you need to absolutely ask yourself.

Am I in my current job because…

1. The people are nice
Of course, it is always wonderful to work with great people, but what I have found when people stay in a job for solely that reason is that they do not develop personally as much as they perhaps could have. A focus on personal growth and your ability to learn in a workplace should always come before whether you the like your boss or colleagues.

2. I am institutionalized
Have you been working so long in a particular role or sector that you think you could not possibly work anywhere else? This can be a convenient excuse for not moving on. No matter your role, or sector, there are always ways to obtain external advice as to what your skill is worth in the market, and where else it could be transported to - but you have got to have that genuine curiosity to want to know.

3. It is a means to an end
How do you feel each morning when you go to work? Do you jump out of bed excited, or is it a deeply regrettable activity? Ensure you like going to work, if you do not, then why are you accepting that? A lot of us spend more time at work than we do with our family or friends, so why would you spend the majority of your adult years somewhere you do not want to be?

4. I am okay that my childhood dreams remaining unfulfilled
I have mentored and coached many young professional, and the first question I always insist on them answering is: what did you aspire to be when you were a young adult at school? I ask this because often at that age, you are much closer to your instincts than you allow yourself to be as a working adult. The pressures and distractions of life challenge our capacity to stay true to ourselves. So tell me, if you were seventeen, would you be happy with what you are doing right now?

5. The money is good
I have seven children, so there were times when money was a priority. However, during these stages of my life I never stopped asking myself what I would prefer to be doing. So, the minute the opportunity arose to act on this, I was ready to go. While I accept there are circumstances where financial security is the overriding consideration for staying in a role, I would agree to disagree with you if you were to tell me that money is a worthwhile career-long motivation. If there is a job you really want, will you have the courage to potentially go backwards at a professional level in both responsibility and money because you really want to try it?

6. I am just plain scared
I believe certain world shocks over recent years, such as terrorism and the global financial crisis, have incrementally gnawed away at our sense of certainty and stability. So a job you might think is okay might only be so because it makes you feel safe. I contend that doing what you love doing, or seeking to do so, is a far safer place with much more personal satisfaction attached to it.
So I suggest you sit down in a quiet place and think about these six points. It is my hope that the answer is ‘no’ to all of them, and if not, you are online looking for a new job to make your own luck.

***

 

Alex Malley FCPA is the chief executive of CPA Australia and the host of the Nine Network television series The Bottom Line. Alex is also a regular contributor to The Huffington Post and he is a regular business commentator on the nationally syndicated programs The Money News on 2GB and Sky News Business.    28 May 2014

Malaysians spend five hours online daily and it is mostly on social media, says report

Malaysians spend five hours online daily and it is mostly on social media, says report



Malaysians spend an average of 5 hours online daily, and 3 out of these 5  hours are spent on social media.

And of the 19.2 million Internet users in Malaysia, 15.6 million of them are active on Facebook, said the 2013 Industry Performance Report published by Internet regulator, the Malaysian Communications and Multimedia Commission (MCMC).

A total of 64% of the population have social media penetration, said MCMC chairman Datuk Mohamed Sharil Mohamed Tarmizi today.

“Now you know how many hours your staff spend online and which sites they visit,” he told business operators, including telco and media representatives, at the report’s launch in Kuala Lumpur today.

The 2010 survey conducted by international firm TNS found Malaysians to have the most number of friends on social networking websites like Facebook.

They also spend the most hours per week on such sites.

According to the survey, Malaysians have an average of 233 friends in their social network, followed by 231 in Brazil and 217 in Norway.

Japanese users had the least number of friends at an average of 29.

The survey was based on recent interviews of 50,000 consumers in 46 countries.

Mohamed Sharil also said that more and more people are connected with broadband services.

There were 20.3 million broadband subscribers in 2013, of which 88% are on mobile broadband.

He said wider wireless broadband coverage is expected in 2017 and this will enable the usage of information and communication technology to be further intensified in many areas of business.

Due to the growth in Internet usage, the commission will work with relevant parties on tightening security features for consumer safety. 

“Singapore showed an increase of 400% in cyber crime last year and this could happen to us.

Why?

Because more and more people are connected but not many are cyber aware,” said Mohamed Sharil.

 He said MCMC is working closely with the police and Bank Negara to monitor Internet abuse and other cyber crimes.

The report also noted a 4.5% growth in revenue for the communications and multimedia industry from RM51.1 billion in 2012 to RM53.4 billion last year.

The main contributors are telecommunication providers at 85%, broadcasting at 11% and the remainder from the postal sector and others.
– September 11, 2014.