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Alibaba Cloud, which set up a datacentre in
Malaysia last year, is considering a second one to further develop a
local ecosystem, its president Simon Hu said. — Reuters
https://youtu.be/MwixREUJOI0
Jack Ma's Life Advice Will Change Your Life (MUST WATCH)
https://youtu.be/lYGGpc2mMno
KUALA LUMPUR: Alibaba Group will set up a traffic control system harnessing artificial intelligence for Malaysia's capital Kuala Lumpur, its first such service outside China, as the e-commerce giant pushes to grow its cloud computing business.
Alibaba Cloud, the cloud computing arm of Alibaba Group, said on Monday it plans to make live traffic predictions and recommendations to increase traffic efficiency in Kuala Lumpur by crunching data gathered from video footage, traffic bureaus, public transportation systems and mapping apps.
It is partnering with state agency Malaysia Digital Economy Corporation (MDEC) and the Kuala Lumpur city council to roll out the technology, which would be localised and integrated with 500 inner city cameras by May.
The partnership comes after Alibaba founder Jack Ma and Malaysian Prime Minister Najib Razak launched an "e-hub" facility last year, part of an initiative aimed at removing trade barriers for smaller firms and emerging nations.
Alibaba Cloud, which set up a data centre in Malaysia last year, is considering a second one to further develop a local ecosystem, its president Simon Hu said on Jan 29.
He declined to elaborate on the company's total investments made and planned for in Malaysia, but said it was "no small amount" and that the investments would continue if there was demand for cloud computing technologies.
MDEC's chief executive officer Yasmin Mahmood said there was no estimate of City Brain's impact on traffic in Kuala Lumpur yet. The traffic management system in the Chinese city of Hangzhou had resulted in reports of traffic violations with up to 92% accuracy, emergency vehicles reaching their destinations in half the time and overall increase in traffic speed by 15%.
Najib has forged close ties with China in recent years. Last year, the Malaysian leader announced a slew of infrastructure projects, many funded by China, as he worked up momentum towards a general election he must call by the middle of this year. — Reuters
Scheme or scam?: Multi-level marketing companies often conduct presentations to potential members promising financial freedom and a better lifestyle
There is no fast track to getting profits or income. Nothing can replace hard and honest work.
IT’s now called the money game but it has been around for awhile, only that it was referred to as multi-level marketing (MLM) or pyramid scams.
There seems to be a resurgence of such scams recently probably due to the economic slow down. While it may be safer to put one’s money in the bank, the reality is that the interest is not that great. It’s the same with unit trust investments.
So, there’s little surprise that many people are attracted to MLM scams, with its huge returns, although they know there’s always a risk behind these schemes (or scams).
These people are seemingly prepared to take the plunge.
New recruits are told to just deposit RM5,000 and stand to gain RM1,000 every month. That’s so attractive – and that is also how one gets sucked into the game.
Imagine this – if there are over 20,000 members and each of them places RM5,000 in the scheme, that works out to a whopping RM100mil collected. The numbers get higher with more members recruited.
And we wonder why there are not many reports made by the victims to the police or Bank Negara Malaysia against these con artists.
I have a relative who pours scorn on his father who works very hard to put food on the table but this arrogant young punk thinks he can make a huge pile of money without selling anything or working for anyone.
Another friend, who declared himself to be mentally-challenged to escape the bill collectors, used to laugh at those studying hard for their exams.
He said although he was illiterate, he would soon make millions and hire graduates to work for him. Of course, he didn’t see his millions.
These people were driven by pure greed, really. Social media is filled with stories of young people making tonnes of money, often living in Dubai, or driving around in gold-plated luxury cars.
Sometimes, famous personalities are dragged in to be part of these advertisements – without their consent, naturally.
Of course, Google and Facebook are not responsible for these fake news and fake advertisements.
The scams include binary option trading which is essentially an unregulated, and sometimes, fraudulent, mainly offshore activity.
Binary option trading involves predicting if the price of an underlying instrument – shares or currencies, for instance – will be above or below a specified price at a specified point in time, ranging from a few minutes to a few months in the future.
Those involve in it receive a fixed amount of money if the prediction is correct or lose the investment otherwise. It is essentially a “yes” or “no” betting, hence the name binary, according to one report.
But that’s another story.
The one that is hitting Malaysians – particularly those in Penang where many scams seem to surface – is the straightforward MLM.
To be fair, there are legitimate MLM businesses. These actually sell products. Members have to sell real products to earn their income, and not sell membership.
You know you are getting into a pyramid scam when they tell you to just put your feet up and get more people to join in.
The MLM is simply about finding new members – or rather, new victims. It is as good as paying you some silly fake gold coins. In some cases, even so-called virtual coins.
You are told that the more members you recruit, you will double or triple your income. The pyramid will come crashing down once no new members are recruited anymore.
But some dubious MLM have gotten smarter. They sell products but they are mostly “worthless” goods like accessories, stones, cosmetics, health and beauty products, among other things. Some sell low-quality health gadgets with unproven scientific claims.
Come on, don’t tell me your home is filled with air purifiers and magic water dispensers? Or you have some lucky charm? Or stones?
According to Mark Reijman, who advocates financial literacy, these MLM use cheap products to hide the fact that members are actually investing in a pyramid scheme,
He said the products are there simply to hide the truth. Members are investing in a pyramid scheme!
“If the MLM cannot explain the source of profits or give details about the technology of the products, or do not permit you to show your contract to outsiders, they are hiding the fact that their product is useless and the profits come from new recruits and not from product sales.
“Be wary when you are asked to buy a large inventory of the product. Don’t fall for ‘patented’ or alleged ‘US technology’ or secret recipes. It’s all smoke and mirrors.”
He advised the public to be on the alert if the product is not sold through regular channels that have served societies for millennia, such as stores and (online) market places.
“If it is such a great product, why can it not be sold through other channels? Perhaps because those channels don’t allow you to recruit new members and they want to protect their reputation against fake or low quality products?” There is a lesson here – nothing can replace the old fashioned values like hard work and having honest earnings. Greed should be kept at bay.
In short – pyramid schemes are unstable because at every new level it will require more recruits in an exponential manner, as Reijman warns.
Soon, the scam will run out of people who fall for the scam, at which time the payments stop and that’s when press conferences are called by the victims.
Millions lost because of a hacking job? – now that’s something new.
By wong Chun Wai On the beat
Wong Chun Wai began his career as a journalist in Penang, and has served The Star for over 27 years in various capacities and roles. He is now the group's managing director/chief executive officer and formerly the group chief editor. On The Beat made its debut on Feb 23 1997 and Chun Wai has penned the column weekly without a break, except for the occasional press holiday when the paper was not published. In May 2011, a compilation of selected articles of On The Beat was published as a book and launched in conjunction with his 50th birthday. Chun Wai also comments on current issues in The Star.
Jack Ma - How To Become A Billionaire (MUST WATCH!)
Jack
Ma, founder of Alibaba, is a self made billionaire with a net worth of
over $26bn. Discover the secrets to his success in this speech followed
by a very interesting Q&A
.
https://youtu.be/-JM_bA3EoMo
China's Top Billionaire explains what's wrong with Donald Trump's Populist rhetoric (2017)
https://youtu.be/Q-0jbIC4yig
Published on 28 Jan 2017 Jack Ma shares his views on globalization and Donald Trump's populist rhetoric. ---------------------------------------------------------------------------------------------------------- Jack Ma founded Alibaba Group, the world's largest collection of e-commerce websites. The Hangzhou, China-based company operates sites
https://youtu.be/yfJlOdgopDo
Published on 24 Mar 2017
In a press conference on March 24, Alibaba Group founder and business magnate Jack Ma spoke about bringing business to Malaysia, his role as the Malaysian Government's digital economy adviser, the Digital Free Trade Zone and his electronic world trade platform initiative. Here is the full press conference of what happened that day.
Jack Ma's Top 10 Rules For Success
Published on 2 May 2015
✎ Jack Ma is a Chinese business magnate who achieved major success and became a billionaire by founding Alibaba group, a family of successful Internet-based businesses. Jack Ma started his business with $20,000 that his wife and friend helped him raise. He is the first mainland Chinese entrepreneur to appear on the cover of Forbes. He is one of the richest people in the world with an estimated net worth o
In an interview with the South China Morning Post, Alibaba founder Jack Ma shares his views on the Chinese economy and the importance of entrepreneurship in supporting development.
CHINA’S economy will face “a difficult three to five years” but the slowdown will be good for its long-term development, Alibaba executive chairman Jack Ma told the South China Morning Post (SCMP) just before the e-commerce giant’s takeover of the 113-year-old newspaper.
Ma said the Chinese economy was indeed grappling with structural problems and that the authorities were working hard to steer it onto a new growth path.
But he dismissed fears that China would follow Japan’s route to stagnation, saying the country still had huge potential waiting to be tapped.
The rapid growth of China’s Internet economy and consumer culture could help the country through its temporary difficulties, Ma said.
China would likely continue to grow at a rate “enviable to most other major economies for 15 to 20 more years”, he said.
Ma gave the two-hour interview in Hangzhou, eastern Zhejiang province, during which he also discussed his vision for the SCMP, cultural differences between the east and west, and his concerns for Hong Kong’s next generation.
Commercial and residential buildings in Guangzhou, Guangdong province.
China’s economy has been grappling with structural problems but Beijing is working hard to steer it onto a new growth path.
On China’s economy, the businessman said it was unrealistic to expect an economy of such scale to maintain double-digit growth indefinitely.
“There is no reason to expect that an economy of such size can maintain such a growth rate indefinitely, nor is it good for China to continue to grow at such speed,” Ma said.
“After more than 30 years’ growth, spending a few years to adjust its course is reasonable.
“Some say the actual (growth) number could be just 5%. But even with 5% growth, there is no other economy of such size growing at that speed in today’s world.”
Comparing China with an ocean liner, Ma said the Chinese leadership understood that the country’s old growth model was unsustainable and that they needed to chart a new course.
“It is easy for a small boat to change its course. But as the world’s second-largest economy, China is like an ocean liner... we have to choose either to not slow down and overturn the ship, or to slow a bit to make the turn,” he said.
The key was to create enough jobs to keep the economy stable and buy time so the country could complete its much-needed transformation, Ma said.
Fortunately for China, he said, the rise of its Internet economy happened at the right time.
China’s gross domestic product grows 6.7% in first quarter – a good start to 2016
“The traditional industries are struggling, but we also see growth in domestic consumption, the services industry and the hi-tech sector, and young talents are flocking to these areas,” he said.
“The logistics and delivery industries create plenty of jobs for low-skilled workers. We still have a lot of room for growth.”
Ma said the deciding factor in a true economic transformation would be the country’s ability to unleash the entrepreneurial spirit among the young and create an environment to help it flourish.
“I believe there will be some great enterprises arising from China,” he said.
“The monetary policy and supply-side reforms are very important and can help rejuvenate China’s economy.
“But to me, the most important thing is entrepreneurship. If this can flourish in China, China will become successful.”
China’s slowdown had triggered panic among foreign investors, with some choosing to leave the country.
But this actually created fresh opportunities, Ma said.
History had proven that those who bucked the trend to invest in China during difficult times always received good returns, he added.
“China needs to develop its rural areas; China needs to develop its cultural industry. It is also shifting focus to services and IT industries. There are still plenty of opportunities around,” Ma said.
In the second part of an interview with SCMP, Ma says he envisions the newspaper to leverage on Alibaba’s technology and resources.
JUST why does Jack Ma want to own a newspaper, and what will he do with it?
Those are the biggest questions that have confronted readers of the South China Morning Post (SCMP) since news broke of Alibaba Group’s acquisition of the 113-year-old English-language newspaper late last year.
Now, for the first time since the Chinese e-commerce giant’s takeover earlier this month, Ma has outlined his vision for the newspaper.
The acquisition has raised eyebrows, with some suggesting that the SCMP – which has for decades been reporting aggressively on China – would change its direction.
A few even believed the newspaper might henceforth gloss over sensitive or controversial issues that risked incurring the wrath of the Chinese leadership.
In a face-to-face interview with the SCMP in Hangzhou, eastern Zhejiang province, Ma addressed these concerns, explaining why he believed in having a narrative on China that was different from that of both the mainstream Western media and Chinese state media.
“I don’t see it as an issue of (coverage) being ‘positive or negative’,” the Alibaba executive chairman said. “It is about being impartial and balanced... We should offer a fair chance to readers (to understand what is happening in China), not just a fair chance to China.”
China’s growth will remain enviable for the next 20 years, says Ma.
As a reader, Ma said, he valued the importance of obtaining unbiased information in order to draw his own conclusion based on the undistorted facts presented to him.
“I believe the most important thing for the media is to be objective, fair and balanced. We should not report a story with preconceptions or prejudice,” he said.
With its access to Alibaba’s resources, data and all the relationships in its ecosystem, the SCMP can report on Asia and China more accurately compared with other media who have no such access.
“Sometimes, people look at things purely from a Western or an Eastern perspective – that is one-sided. What the SCMP can do is to understand the big ‘why’ behind a story and its cultural context.
“I want to stress the importance of being fair to our readers. You should not impose your own view and prejudice on the readers and try to lead them to a conclusion. As a reader, I understand what a fair report is.”
The tech tycoon said his vision was to transform the SCMP into a global media agency with the help of Alibaba’s technology and resources.
Alibaba, the world’s biggest online trading platform, is aggressively developing big-data and cloud technology. Every day, it analyses and processes a massive volume of data that can provide powerful insight into the world’s second largest economy.
Ma reiterated his promise that Alibaba’s management would not take part in the SCMP’s newsroom operations. Rather, it wanted to represent readers’ interests and give feedback on how to improve readers’ experience, he said.
“As I said to Joe (Tsai), you are going to the SCMP as a representative of its readers. You don’t have to represent shareholders. You speak for the readers,” Ma said, referring to Alibaba’s executive vice-chairman who is now the chairman of the SCMP.
Ma, who last year unveiled a HK$1bil fund to help Hong Kong’s young entrepreneurs start up their businesses, said he invested in the newspaper because he “loves Hong Kong”.
Hong Kong was stuck in a rut and in danger of losing its direction, the billionaire said, urging Hong Kong’s youth to hold on to the city’s uniqueness and have faith in its future.
“The city has lost its can-do spirit. The big businesses are less willing to take risks. I talked to some young people in Hong Kong and they said they are lost. Young people indeed have fewer opportunities than before. But is it true that there are no more opportunities for them? No!” he said.
Hong Kong had many strengths that were unique to the city, Ma said.
“It has the best location. The ‘one country, two systems’ allows it to enjoy the good things from China’s growth and the best things from the West... The quality of Hong Kong’s graduates can match the finest from any other city. Its services industry is first class,” he said.
“Hong Kong people say Hong Kong needs to preserve its uniqueness. I say Hong Kong’s uniqueness is in its diversity, its tolerance of difference cultures... China does not want to see Hong Kong in decline. I have full confidence in its future.” – SCMP
