Are you in the right sector?

What would be your benchmark to measure whether a sector is good or bad? Anyway, I believe most of us use "salary" as the main or only benchmark. Obviously, salary or income is one of the main factor for fresh graduates nowadays to consider whether to take the job or not.

Yesterday, I attended a forum on Economic Transformation Programme (ETP) organized by Malaysia Financial Planning Council (MFPC). Of course, no one is more suitable to answer those questions other than the CEO of PEMANDU, which is the main backbone to the success of ETP.

Excerpt from TheStar newspaper

So, are you regretted of what you are practicing now?

The statement cannot just simply applied to every Malaysians, as that was just an average benchmark. In fact, there are many engineers who earns big-bucks out there. As long as you are determine and posses the right attitude and behavior, you could be a high income individual.

The interpretation should be:

"Along with the growing Malaysia economy, financial sector poised to outperform other sector especially when we're talking about high-income nation. When people are resourceful, they will save and invest, which ultimately benefiting the financial sector which provides services like investment, stock broking, insurance, personal wealth management..."

Also, please take note that the financial sector will not prosper, if Malaysia do not have enough professional, such as engineers, doctors, lawyers and accountants. Can our nation grows without these professionals? If a country were lacking behind, can financial sector prosper, subsequently can their employees? We should not simply jump into particular sector based on such survey.

Related posts:

6 Key Takeaway from ETP open day

Two cents for Government’s Talent Retaining Program

First, congratulates Talent Corp for continuing trying to achieve the objectives of bringing back Malaysian or foreign talent back home. Indeed, this was a very tough task, as Malaysians already implant the thinking inside. Every year, our "bright stars" migrate to other countries searching for their dream jobs.

Cartoon In: Economist, August 11, 2005.

Why it happens?

• It was started when those bright graduates being in love with the countries they studied. Many of them pursue their degree in US, UK, and Australia. And, after they graduate, they became in love with these countries, and tend to get a job there, stay there, and forget here.
  
• Highly specialized jobs are unavailable to these professional locally, such as doctors, engineer, scientists, new technology innovators… If you're hand phone innovator, would you join Apple or Nokia abroad or remain here?
  
• Professional tends to feel proud by doing something that they can showcase their skills or capabilities. This is another reason for them to venture aboard, because Malaysia is not a niche nation for something unique. Example, fashion in France, soccer in UK, technology in US. No wonder Datuk Jimmy Choo, yet another proud Malaysian, found his success in UK.

Picture from www.frederatorblogs.com

How to prevent brain drain?

• Improving our Universities to be on par with US, UK and Australia, so that Malaysians need not chase for overseas educations
  
• Improving our living standard and lifestyle, especially in KL, to make our graduates proud of
  
• Move up the value chain of businesses
  
• Move towards high income nation (we're on the right track)
  
• Identified our very own niche or selling point, and plan to develop it until recognized globally
  

What Malaysians really want from Telcos?

Recently, a little bit of whirlwind is happening in the local telecommunication industry, when Malaysian Communications and Multimedia Commission (MCMC) awarding the 2.6GHz spectrum to mobile telcos.

Why battling for the spectrum?

Without spectrum, mobile telcos will not be able to expand their digital business. That's why many quarters are lobbying hard for the precious spectrum allocations. The latest one is the 2.6GHz spectrum.

Who is the winner?

Surprisingly, all the 8 existing wireless players and 1 newcomer (see picture below) get 20Mhz block each. The only newcomer is a company linked to tycoon Tan Sri Syed Mokhtar Albukhary.

Controversial part...

Unlike practices did by other global governments, there is NO tendering process being called. No tender, No contest, No transparent, No competition. In the end, No benefit to rakyat.

All these years, Rakyat has been suffering from high telephone bills comparing to other nations. Furthermore, the service and coverage is not up to international standard. To name it specifically, our broadband and Internet connections is suck given the price we are paying for. Achieving high-income nation status with current speed and price? Sure will failed...

What Malaysians want is better coverage, lower price, higher speed of Internet services to connect with the world out there. How are we going to do business online with the world? Dear telcos and MCMC, please think about it, for the benefit of Rakyat (YOU and Me).

New Economic Model - Urgent !!!

When Prime Minister announced the New Economic Model (NEM) this year, the private sector and investors are welcoming the measures taken by the government towards liberalization. However, things are hanging nowhere, and business community are wondering the implementations part.

Would NEM be implemented as promised? And, when?

Capital Dynamics Group CEO and MD Tan Teng Boo:

"The NEM is a breath of fresh air and has to be implemented quickly and executed in the right way so that the country can attract more foreign funds into the country. Malaysia faced serious economic structural problems in the areas of productivity, efficiency and competitiveness."

Recently, CIMB's Datuk Nazir Razak also share the same view, calling for a fast implementation of NEM to attract FDI into our country.

Lastest call is coming from Dr.Chua (MCA's president) by saying: (TheStar)

"Malaysia would be trapped as a middle-income country if it failed to liberalise its economy and boost investment, and we should achieve the target of high-income nation by 2020, under 10MP and NEM."