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Hye Dr😊

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Hi Dr

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Hi Dr.

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Hi Dr. Husna. Patrick here

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Hi my cutiepie dr 😍

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Hai dr 🤗

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Hi Dr,

This is Soraya and after reading through the journal, I would say that the state of Malaysian industrial relation remain the same as the last time. This is because, through my experience of working, my previous workplace does not have any union at all, though many of the staff there feel that they were oppressed but there is nothing that they can do. It’s either you take it or you leave it. Which during my employement, I witnessed several of my colleagues resign. If only their voice were heard, perhaps they will not resign. I believe this situation happens in other organisations as well, as mentioned in the journal, the union members are afraid if there is any retaliation from their employer if they fight for their rights. Due to that, most employees deals with the issue or problem by themselves either by leaving the organisation or suffer in silence. It is a sad scenario for the employees as the union has no real bargaining power and the employers are taking advantage of it.

However that is simply my opinion when I read the journal

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Nadiyya Mohammad Kassim / 2018618934 / BA7072A

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Nadiyya Mohammad Kassim / 2018618934 / BA7072A

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Salam Dr, I am Nadiyya here.

A past year before there was a significant difference between the lowest salaries in the private sector and the public sector despite the type of job and job description almost similar. Trade unions can play a role in addressing this problem by asking the government to set a minimum wage because less income does not allow urban workers to enjoy a comfortable life due to the rising cost of living each year. As the year of 2019, the Malaysian government has put a minimum wage of RM1,100. This is in line with industrial and economic developments in Malaysia. In Japan, for example, the salary of a manager is not much different than that of a taxi driver. Hence, materialistic feelings and envy can be reduced and the people can increase productivity.

Thank you Dr Husna.

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Assalamualaikum and Hi Dr,

I’m diana. Based on the journal given, I have been clarified that the issues about Industrial Relation revealed by the journal sadly still relevant until now and remain the same in Malaysia. According to Ramasamy in Malaysiakini (2018, 15 October) stated that Malaysia has a bias industrial relation system towards the employee. About 15 million employee in this country, majority do not even get good income, mandatory arbitrage in trade disputes, lack of collective bargaining and lack of trade union rights, particularly in the distribution of wages. Personally speaking, the government does not seem to be willing to justify the labor force to create value by way of freedom. This situation proves that malaysia industrial relations is still in a severe system and requires significant change in order to be more progressive and advance in context of social and economic systems. Malaysia should create skilled manpower to meet the growing needs of the industry.

Thankyou Dr.

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Hello Dr, I’m Maisarah. In my opinion, i agree with some major issues highlighted in the article. For instance, the government should review the Malaysian IR and labour law. This is because some of the laws are outdated to meet the needs of the current employees. Apart from that, our Minister of Human Resource also had made a statement stating most of the act are outdated and need to be amended. From this we see that there are no amendments or improvement that has been made for Malaysian IR. Apart from that, I also think that the IR Department are still less functioning and this is because there are still thousands of cases still pending at the IR Department. On the other hand, I also think that the current government trying to improve Malaysian IR by proposing Malaysian minimum wage rate to RM 1100 to meet the need of the current labour force. Lastly, this is only my opinion and if I’m wrong do correct me😊

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Salam Dr., Im Mazidah.

Based on my reading and what i understand, i found that there is a bit difference in IR before and today IR. For example, before this there is no minimum wages implemented in Malaysia. Minimum wages can be defined as minimum amount that employer is required to pay to employees and it cannot be reduced by collective agreement or individual contract. But on today Malaysia’s economic, there is minimum wages policy apply to all employees under the National Wages Consultative Council Act 2011 (Act 723) which is RM1100. This minimum wages can help employees at least to survive in growing economic in Malaysia.

Furthermore, about the OT that has been cut to lower the cost from triple to twice for working day of rest and 4.5 to 3.5 for working on holidays. But, in some company, they do not give OT to the employees as they said that their employees already have higher wage even though the salary that the employees received were not as much and they qualified to the certain amount of OT. This things were not apply to all company. But certain of company is based on the boss itself whether to give or not.

Thus, Malaysia should take a serious action like a policy in which all company should use in order to protect more on employees.

Thats all about my opinion. If I’m wrong, do correct me. Thank you dr 🤗

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MUHAMMAD HAFIZ BIN AZIZ
2018849002 | HRM723 | BA707 2A

THE PRESENT SCENARIO OF MALAYSIAN INDUSTRIAL RELATIONS: ACCOMMODATING OR CONFLICTUAL

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MUHAMMAD HAFIZ BIN AZIZ
2018849002 | HRM723 | BA707 2A

THE PRESENT SCENARIO OF MALAYSIAN INDUSTRIAL RELATIONS: ACCOMMODATING OR CONFLICTUAL

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Based on the article “The present scenario of Malaysian industrial relations: Accommodating or conflictual” by Parasuraman and Schwimbersky (2005), it was mentioned that Malaysia is a semi-industrialized country which imply repressive-confrontation strategies of which result in a dominant pattern of conflictual industrial relation. According to (World Population Review (2019), Malaysia now categorized as a newly industrialized country together with Brazil, China, India, Indonesia, Mexico, Philippines, South Africa, Thailand, Turkey. Referring to Sharma (1996), a newly industrialized country is more to concession accommodation which leads to a cooperative pattern of industrial relation. Thus, by now, Malaysia should have implied a cooperative pattern of industrial relation.

Comparing to the number of the Malaysian labor force in Malaysia in 2003 from Parasuraman and Schwimbersky (2005), it has increased from 10.5 million to 14.99 million in December 2018 (Department of Statistic Malaysia, Official Portal, 2019). However, the number of employment rose 2.4 percent to 14.99 million, while unemployed increased 1.7 percent from a year earlier to 514.2 thousand remaining at 3.3 percent. Apart from that, the service industry still lead the economy just like it was mentioned in the article. Service industry lead with 56 percent of the share, followed by manufacturing with 22.8 percent, agriculture with 7.9 percent mining and quarrying with 7.9 percent, and construction with 4.2 percent of share (Department of Statistic Malaysia, 2019). This surely impacted the composition of the Malaysian labor force as mentioned in Parasuraman and Schwimbersky (2005). It was stated that the confidence of business performance for the first quarter of 2019 will decline for wholesale and retail trade, construction and industry with -8.2, 18.9, and -3.6 respectively. However, service confidence indicator leads with +5.9 even though it was lower than it was recorded in the last quarter in 2018.

In terms of industrial relations, it can be said that industrial relations in Malaysia are still being governed by the Industrial Act 1967, Trade Union Act 1959 and Employment Act 1955. In contrast, there is a change in the amount of minimum wage for employees. Previously, there is no minimum wage implemented in Malaysia. However, compared to the previous time, Malaysia has announced a minimum wage of RM900 in late of 2013 and Malaysia now have been implementing minimum wage amounted to RM1100. In accordance with women employment, it is still the same that women can only work in the night around 10 pm to 5 am but they can’t work in the industrial or agricultural industry.

Based on the article, it states that the union has very much little power at that time. This is because the government sees the union as a troublemaker. As time past by, I believe that trade union in this generation has gained more power in fighting for the right of employees. Despite that, the movement of the union still must comply with the legislation that has been implemented in Malaysia.

REFERENCES

- Department of Statistic Malaysia. (2019, February 14). Retrieved March 6, 2019, from Malaysia Economic Performance Fourth Quarter 2018: https://www.dosm.gov.my/v1/index.php?r=column/cthemeByCat&cat=100&bul_id=aHRydmZMSmtNL0lTbW43SjVOSlZkQT09&menu_id=TE5CRUZCblh4ZTZMODZIbmk2aWRRQT09

- Department of Statistic Malaysia, Official Portal. (2019, February 11). Retrieved March 6, 2019, from Key Statistics of Labour Force in Malaysia, December 2018: https://www.dosm.gov.my/v1/index.php?r=column/cthemeByCat&cat=124&bul_id=Wks0L3pvKzJvSVdrMUhoUG1VNTlRdz09&menu_id=U3VPMldoYUxzVzFaYmNkWXZteGduZz09

- Department of Statistic Malaysia, Official Portal. (2019, February 12). Retrieved March 6, 2019, from Demographic Statistic Fourth Quarter (Q4), 2018: https://www.dosm.gov.my/v1/index.php?r=column/cthemeByCat&cat=430&bul_id=UzliaFYxbW1nSFovbDYrLzFFR29zZz09&menu_id=L0pheU43NWJwRWVSZklWdzQ4TlhUUT09

- Parasuraman, B., & Schwimbersky, S. (2005). The present scenario of Malaysian industrial relations: Accommodating or conflictual. International Society for Labour and Social Security Law: 8th Asian Regional Congress Proceeding, (pp. 295-312). Taipei, Taiwan.

- Sharma, B. (1996). Industrial Relations in ASEAN: A Comparative Study. Fredericton, Canada: Management Futures.
World Population Review. (2019). Retrieved March 6, 2019, from Newly Industrialized Countries 2019: http://worldpopulationreview.com/countries/newly-industrialized-countries/

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Nur Atiqah binti Adam / 2018658222 / BA7072A

Review on the present and past scenario of Malaysian Industrial
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Nur Atiqah binti Adam / 2018658222 / BA7072A

Review on the present and past scenario of Malaysian Industrial
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Hye Dr.

This is Atiqah. I would like to give my opinion regarding industrial relation during the past with industrial relation scenario nowadays. After reading through the journal and also a few newspapers, I can said that industrial relation nowadays a bit different than in the past. The reason why I said this because in the journal, it stated that there was no minimum wage legislation in Malaysia as trade union’s demand always being rejected by the state. However, the scenario slightly different today as Malaysia start to accommodate Malaysia worker’s need regarding the issue on minimum wage where Malaysia government start to implement minimum wage among Malaysian workers. According to Manirajan Ramasamy, author from new straight times online, the headline of his news was about “2019 Budget: Minimum budget to be streamlined nationwide”. In the news, the author wrote that the government has proposed that the minimum wage be raised to Rm1100 nationwide from 1 Jan 2019.The news also highlighted statement from Finance Minister Lim Guan Eng where he said that the idea of minimum wage was among the measures being adopted by the government to help Malaysia people cope with the rising cost of living these days.

Other than that, there is also differences in term of working hours in the past with the current days. In the journal, it stated that there is lack of flexible working practices among unions or employees as it more favorably to employers. However, nowadays employee also get the same opportunity to practice flexible working hour like their employer. Based on my experienced doing my internship at Suruhanjaya Koperasi Malaysia, Kuching, the company also practiced flexible working hours. All employees in the organization eligible to the flexible working hour practices. Employee can choose the start time of their working day based on their own preference. For example, if the employee choose to start their working time at 7.30 am, they can go home at 4.30 pm while for employee that choose to start their day at 8.00 am, they have to go home at 5.00 pm.

Even though there are some differences between current industrial relation and past industrial relation scenario, there is also similarity that still exist till today such as overtime pay rate. In the journal, it stated that the rates of overtime pay for working on a day of rest was twice of the hourly pay. Based on my recent interview with Miss Yuhanis, one of employees in the entertainment industry (GSC Mentakab Star Mall), she told that the rate of overtime pay that she get if working on her rest day also twice which same like statement mentioned in the journal. As conclusion, it can be seen that there are some differences but at the same time still have similarity part regarding present scenario industrial relation with past scenario of industrial relation.

That’s all about my opinion and if I’m wrong, do correct me. Thank you Dr.

References

Manirajan, R. (2018, November 2). 2019 Budget: Minimum budget to be streamlined nationwide. Retrieved from New Straits Time: http://www2.nst.com.my/news/nation/2018/11/427555/2019-budget-minimum-wage-be-streamlined-nationwide

Yuhanis, T. (2019, January 8). Overtime pay rate. (A. Nur Atiqah, Interviewer)

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NUR SALIHAH BINTI MOHD NASRI / 2018884426 /BA7072A

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NUR SALIHAH BINTI MOHD NASRI / 2018884426 /BA7072A

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Assalamualaikum Dr.,

I'm Nur Salihah,

As we all know, any employee over the age of 16 years old can join the trade Union except for the police, armed forces and the prison service. According to Maimunah Aminuddin (2009), there is a legal restrictions which the union leaders see as a major barrier to growth of the movement. It state that workers can only join a trade union which represents the occupation, trade, or industry in which the worker is employed. In other word, employees from different sector cannot join the trade union. While employees in the states of Sabah and Sarawak can only join a trade union whose members are working in the same state.

Many unions are too small to be effective. In example, 62% of employee unions have less than 500 members. These union do not have the financial sources to support their members. The unions themselves have a hard time due to the legal restraints, which have been in place since the 1950s with very little modification. And the most concern issue regarding to the union movement today relates to the difficulty in getting recognition from employers, a mandatory pre-requisite for collective bargaining.

REFERENCES
Aminuddin, M. (2009). Employment Relations in Malaysia : Past, Present and Future. New Zealand Journal of Asian Studies, 304-317.

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Assalamualaikum Dr Husna,

I’m Sharifah Alwiah. Based on this journal, it states that previously there is no minimum wages legislation implemented in Malaysia until the Minimum Wages Order was first implemented on 1 January 2013. However, in late of 2013, Malaysia has announced a minimum wage of RM900 and now Malaysia government have been implementing minimum wage legislation apply to every employees under the National Wages Consultative Council Act 2011 (Act 723) which is RM1100. By definition, minimum wages is the minimum amount of remuneration that employers may legally pay to employees and cannot be reduced by collective aggrement or individual contract. Therefore, the implementation of minimum wage in Malaysia is to overcome poverty and increase the productivity in the workplace as well as to provide social justice by bringing the income inequality.

On the other hand, the quest for minimum wage is a sad reflection of the state of industrial relations in the political economy of countries. However, in countries with low level of unionisation, lack of collective bargaining and strong government regulation, then the minimum wage becomes a necessity. Furthermore, trade union as a monetary body to highlight and ensure minimum wages ruling been complied with either private or government sector.

In a nutshell, in addition to implementing the minimum wages, other aspects also should be concerned to protect and keep the right of the employees. Therefore, the government need to increase its efforts so that the economy will be improved on par with the other country. This is what i get and understand from this journal.

Thank you Dr😊

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Competitive Advantage at the Workplace:Harnessing Knowledge and Ethical Behaviour

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Competitive Advantage at the Workplace:Harnessing Knowledge and Ethical Behaviour

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Based from what I learned during the Allianz talk held last week, Mr Zakri, the CEO stressed the importance of knowledge and ethical behaviour in real world. He gave relatable scenario and example of people and organisation that are lack of ethical behaviour and how it affects their operation of the organisation or a country. Knowledge is facts that a person acquired from an experience or reading meanwhile ethical behaviour is doing things that has high morality and principles that respect the nature and the society regardless of their background. By possessing the key two elements, the public will respect the person as he or she shows an exemplary behaviour though it does not guarantee the person to be in top organisation or in the world.

As he speaks about the importance for the students to grasp and harness knowledge and to practise ethical behaviour, and as he addressing himself as the earlier generation that humbly admitted that his generation has done mistakes that we, the Millennials and Gen Z can improve the way of doing things, ethically, hence moving our countries on par with other ethical countries such as Sweden.

To relate the theme of the talk with our subject, it is vital that the students to equipped themselves with knowledge and ethical behaviour as they will be the working-class citizen once they graduated. Regardless of the organisation of their choosing, it is important for them to be knowledgeable of the employment act as it will act as a guidance for them. With the knowledge that they have, they would avoid to do any misconduct or breaking any law that could resulted to suspension or termination of contract.

In addition, it is imperative for them to be aware of their employee’s right to avoid any exploitation, discrimination or abuse committed by their employers. Some of the act that the employee should know are the working hours, pay, occupational safety and health act (OSHA) and social security law for instance.

What I can conclude from the lesson learned and the effect of it to our subject is that; if the employees are knowledgeable and ethical, they could lead a movement to force the employers to be ethical as well. This would change the scenario and employees’ right will always be protected and uphold. Perhaps this even would lead to a better right to be formed through an improvement made in the act. Hopefully, if everyone is knowledgeable and ethical, there will be no more kind of exploitation and discrimination in the workplace hence leading towards a better society and organisation.

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A  REVIEW ON ALLIANZ: COMPETITIVE ADVANTAGE AT THE WORKPLACE: HARNESSING KNOWLEDGE & ETHICAL BEHAVIOR. 

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A  REVIEW ON ALLIANZ: COMPETITIVE ADVANTAGE AT THE WORKPLACE: HARNESSING KNOWLEDGE & ETHICAL BEHAVIOR. 

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Assalamualaikum and Hello Dr. First and foremost, I would like to thank you for giving me the opportunity to attend the CEO talk as it provides me with various knowledge and experiences.
In my opinion, Knowledge and Behavior plays a significant factor in leading the organization in the current competitive environment.  As mentioned by Chen, Yeh and Huang (2012), knowledge is considered to be the most crucial aspect for businesses and an essential strategic resource for a firm to retain a sustainable competitive advantage. Meanwhile, according to Davenport (2008), the fastest growing and most profitable organization are those which have the best quality of knowledge employees and considered themselves to be knowledge based organization.  It should be noted that, knowledge, behavior and employment relation can’t be separated as these elements are interrelated. As mentioned by Adeyeye and Adeniji (2015), Ethical Behavior and the current system of employment relation in any organization is very essential for general development, the production of good and services, creation of national wealth and to sustain human developments. Ethical behavior helps he organization to plan a proper employee management system and to achieve workplace ethical standard.

From the CEO talk, I learned that knowledge and behavior are the key factor for an individual or employee to compete, retain and sustain in the competitive and ever changing work environment.  Knowledge shapes an individual behavior towards the business industry as the more equipped you are, the higher chances you to gain the competitive advantage. Knowledge is not only refer to the ‘know what’ knowledge that you learn in classrooms but also the ‘know-how’ knowledge that are spontaneous and cannot be found in manual or books. In the era of globalization, some employees feel that they are being victimized by their employers. According to Zulkiflee and Shahrom (2013), most giant transnational company acquire more profit through exploiting and lowering employee salaries, cutting welfare benefits, and damaging labor rights. Furthermore, some employee feels scared to take charge as they feel they will get terminated from the company. From this we see that, it is very important for an individual or employee to equip themself with employment relation knowledge to protect and to find the best alternative to fight for their rights. Based on my experience, one of my friend’s basic salaries is RM 900 which is below the current wage rate and there’s nothing she can’t do as her employer resist to follow the government current wage rate. Apart from that, some of them are being force to come to work as early as 6.00 a.m until 12.00 a.m to take over their colleague’s tasks and duties and they did not get paid for their overtime. There’s nothing they can do about it as they were too afraid to speak up and they end up leaving the company. From this we see that, some employer might take advantage towards their employees whom are lack of experience and knowledge.

Likewise, it is very crucial for employee especially fresh graduates to acquire early Industrial Relation knowledge before they enter the work industry. This effort may act as a guideline for them to faced future employment relation risk and challenges. Moreover, early Industrial Relation knowledge not only enables them to gain better understanding towards the current work environment but it helps to shape them into a skilled and knowledgeable worker when they enter the work industry. As mentioned by Schalk and Freese (1997), employee commitment and behavior has a strong influence towards employment relation. A strong employee commitment and behavior may help the organization to foster a harmonious relationship and promote mutual respect between employer and employees (Mustafa, 2008). For instance, wages and salaries has become a huge issue in industrial relation. Let’s say a salary issue arises in the company. If employee or fresh graduate acquire early IR knowledge they will understand their rights as an employees and the proper procedure to handle the issue. Apart from that, employee may join trade union to represent and protect their right as their voice might not be heard if they take charge individually. Moreover, knowledge worker will understand that collective bargaining with employer is crucial and it is the proper procedure to handle IR issue as successful collective bargaining process may result into collective agreement. Furthermore, employer also plays an important part in the IR process in which they need to be open and alert with the needs and rights of their employees. This is because employers are bound to provide better terms and conditions for their employees (Zulkiflee and Sharoom, 2013).

In conclusion, Knowledge and Ethical Behavior are the essential element for an individual or employees to gain competitive advantage in the workplace. Knowledge and behavior is an ongoing learning process that requires time and effort. It should be noted that, learning never stop and it is good to be greedy in knowledge as it helps you to eliminate fear, insecurities and build confidence.

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Competitive Advantage at the Workplace: Harnessing Knowledge & Ethical Behavior

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Competitive Advantage at the Workplace: Harnessing Knowledge & Ethical Behavior

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Hye Dr.

This is Atiqah. I would like to give my review regarding CEO Touch base program with Allianz Malaysia Bhd at UiTM Puncak Alam.  The talk was about harnessing knowledge, slightly on list of aspect that set an organization apart from its competitors and also ethical behavior. The Ceo of Allianz Malaysia encouraged youngsters nowadays harnessing knowledge where youngsters should occupied themselves with all kind of knowledge and skill that make employer want to invest on them. Encik Zakri told that in learning, there is no end no matter how high the position one’s hold in which learning should be continuous. Other from that, during the talk Encik Zakri also highlight on some aspect that set an organization apart from competitors such as trust and accolades, customer satisfaction, impeccable reputation, reliable and knowledgeable employee and good result. Encik Zakri also stressed on the importance of having ethical behavior in life especially when you are working. He gave some example on relatable scenario on employee and organizations that are lack in term of ethical behavior and how it can impact on organization’s performance.

Regarding the topic that was highlight during the talk and to relate it with our subject, I can say it is very crucial for student to equipped themselves with knowledge and ethical behavior as they might be the one that will lead the entire team when the entering working world later after graduating. If they are not fully equipped themselves with knowledge, there is possibility people might take advantage on them. So, when they start entering working world, it is very important for them to be knowledgeable and familiar with the employment act and their employee right in the organizations. If an employee does not have knowledge on these, it will be easier for other parties like employer to manipulate, discriminate or mistreat the employee at the workplace. Therefore, harnessing knowledge is very pivotal in oneself. Apart from that, with the knowledge that they acquired, it can provide some guidance for them when working thus will prevent them from doing unethical behavior or misconduct at the workplace.

As a conclusion, I can said that if the employees have a lot of knowledge and ethical behavior, the environment in the workplace will be much better. Plus, there will be low possibility of employees being discriminate or manipulate by the employer as they already aware and have knowledge about their right as an employee in the organization.

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Nur Mazidah binti Ahmad (2018813014) BA7072A

COMPETITIVE ADVANTAGE AT WORKPLACE: HARNESSING KNOWLEDGE & ETHICAL BEHAVIOR

Hai dr,

Last week, my classmates and i had attended a talk by En. Zakri, the CEO of Allianz. During the talk, En. Zakri had stressed on the importance of knowledge and good ethical behaviours that all employees must have. It is important for the employees to have such skills and knowledge in order to differentiate themselves in todays economic. It is crucial for them to stay competitive as it will give benefits to themselves and also for the company that they work for. Especially for fresh graduates, it is important for them to widen their knowledge in various areas as it act as a point ahead from the others during the interview sessions. While for ethical behaviours, it a must for every of employees to have ethic in whatever they do as it will reflect on the result of the performance at the end. If an individual was not ethically on performing his job, it definitely will affect on the overall outcomes.

To relate with the subject, students should aware about the importance of these things as they will be a part of working once they graduated. They need to have extra knowledge and more ethical in whatever they do as it will ensure how well and how perform they are. Despite for themselves, employers also look for these two things to hire a capable candidates that suit with what they wants. If employees does not equipped well with knowledge, it may be someone who have intention to take advantages on them and even towards the company. It also may be harm to them for example if they do not have the knowledge on certain things like health and safety at the workplace.

In conclusion, it is crucial for everyone especially to the employees itself to fully equipped themselves with knowledge and good ethical behaviours as it will give them many advantages in present and future. It also can ensure the success of the organisation if they have all of these employees in their company.

Thank you ☺️

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COMPETITIVE ADVANTAGE AT THE WORKPLACE: HARNESSING KNOWLEDGE AND ETHICAL BEHAVIOR

Based on the CEO Touchbase program "Competitive Advantage at the Workplace: Harnessing Knowledge and Ethical Behavior" which has been conducted at Universiti Teknologi MARA (UiTM) Puncak Alam campus, there are several inputs that are parallel to our learning context and can be used as a lesson for an individual. First of all, I feel called to discuss the Allianz Malaysia Berhad mission statement. In the statement, it states "Insurance solutions from A to Z". In my opinion, they have created an excellent mission statement where it shows that Allianz Malaysia Berhad aims to help its customers solve their problems thoroughly. In line with the subject of Employee Relations (HRM723) which describes the relationship between employers and employees where they have been governed by the Employment Act 1955, the Industrial Relation Act 1967 and also the Trade Union Act 1959. As we already know, these acts also are comprehensive in that it was created by the Malaysian government to assist employers and workers in resolving specific problems related to employment. It provides both employers and employees some kind of dual protections. For example, labor regulations dictate to some degree how people in an organization should interact with each other. It is financially beneficial to both employers and employees when they comply with the law. For instance, when an employer is compliant, he or she evades charges from not following the law, along with potential lawsuits. Likewise, obedience to these law means that employees are well compensated as a return for the work they do.

In addition, Mr. Zakri Khir, the program's speaker have also shared about the importance of harnessing knowledge. Harnessing knowledge helps an individual to expand their horizon, see the bigger picture, be independent, be the employee that their employer wants to invest in, and there is no end to learning. Apart from that, Mr. Zakri also emphasized that for success, education is not the key to success, but wisdom and knowledge is a major milestone for the success of an individual. So, he reminded that all individuals are constantly expanding and empowering their knowledge. On top of that, he also gave some advice on how to acquire knowledge from his point of view that is by reading magazines and comics. In my opinion, knowledge not only comes from a source of scientific resources but a magazine-like source is also able to channel useful knowledge to an individual. If it is associated with our learning, the knowledge is very important to both the employees and the employer. For employers, the knowledge of employee relations is very important where it helps employers in situations where trade disputes arise in the workforce as an example. With enough knowledge, the employer will certainly know the steps that need to be taken to resolve the problem. In contrast, knowledge helps employees to defend their right when oppressed. For example, the case of discrimination against any person in regards to employment, promotion, any condition of employment or working conditions on the grounds that he is or is not a member or an officer of a trade union. The employees can take legal action against the employer since it is prohibited for the employers to do so to the employees.

During the speech session, Mr. Zakri also shared a quote that caught my attention saying "A leader in the time of victory stand at the back, and a leader in the time of danger walk to the front". It shows the characteristics of a very good leader and can be an example either by the employer or the trade union leader.  A trade union leader, when a member of a trade union is in the midst of hardship needs to play an important role in defending the rights of the worker. Failure to do so will cause trade union experts to lose confidence and hope for the trade union. Last, Mr. Zakri describes ethical behavior. According to him, Malaysia is very far from being a country with ethical citizens. He also acknowledged that the mistakes were caused by those born of his generation and it was the responsibility of the new generation to correct the mistakes. However, in term of employment, the ethical issues could be minimized by the rules and regulations implemented by the Malaysian government. This shows that everything must be done ethically when there is any problem arise in accordance with the law. For example, when employees want to fight for their right, they can do it through the trade union. However, in order for the trade union to take further steps, they need to comply with the law beforehand such as they need to gain recognition from the employers and register the union as well as waiting for 7-day cooling off period before commencing a strike.

As a conclusion, both knowledge and ethical behavior is very important to an individual in working. This is because it helps in building a better environment for all people and ensure a healthy working condition where there will be less problem.

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Talk Review of Competitive Advantage At Workplace: Harnessing Knowledge & Ethical Behaviour

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Talk Review of Competitive Advantage At Workplace: Harnessing Knowledge & Ethical Behaviour

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Sharifah Alwiah Binti Syed Bashir (2018299808) BA707 2A

Assalamuaaikum & a very good day Dr,

On 20th March, I have attended a seminar delivered by Mr. Zakhri the CEO of Allianz Malaysia Bhd on the topic of Competitive Advantage at the Workplace with Harnessing Knowledge & Ethical Behavior. Based from the seminar, what I have learned, Mr. Zakhri has stressed on the importance of harnessing knowledge and ethical behavior to everyone out there to retain their competitive advantage in the real life and real world. He let us know the situation out there which many people (employees and students) and organization still have a lack of knowledge and ethical behavior. Knowledge can be defined as familiarity, awareness, or understanding of someone or something, such as facts, information, descriptions, or skills, which is acquired through experience or education by perceiving, discovering, or learning. Since knowledge is the fuel that drives human life, gaining knowledge is deemed the most primary activity that prepares man for long and successful life. Meanwhile, ethical behaviour is acting in ways consistent with what society and individuals typically think are good values and tends to be good for business and involves demonstrating respect for key moral principles that include honesty, fairness, equality, dignity, diversity and individual rights.
Therefore, knowledge is also very important to shape our personality and perfect our behaviour and dealings with people. With access to knowledge and information, also possess good ethical behaviour is increasingly important to employees, who must adapt to shifting roles, earns respect, and compete for work in a global marketplace. As per what Mr. Zakhri said, the importance for students and employees to gain and harness knowledge by reading and explore more. For instance, books, magazines, journal, article, newspaper, literature, philosophy, history and even the Internet are great sources of knowledge as they enrich us with the realization of what we actually are. The more they read, the more educated they become.
To relate from the topic of the talk delivered by Mr. Zakhri with our subject industrial relation, it is very important for students to prepare themselves with knowledge and ethical behaviour as in future they will be the employee once they graduated. While become the employee, it is very important for them to be knowledgeable about employment act and industrial relation when they enter the world of work to protect their rights as employees which are the right to job security, the right to fair treatment by the employer, and the right to fair treatment in the workplace. Besides, with the knowledge and being ethical, it can be as guidance and protect them from being abused and take advantages by their employer. Moreover, they also can avoid doing any misconduct, fraud, or breaking any law that could result in suspension or termination of the contract. Understanding the industrial laws is of primary importance in the employment of people or employees. The industrial laws represent several of provisions which secure employees from inequitable discrimination. For example, from my working experience before, have a few employees not aware and lack of knowledge about the employment act like working hours, pay, leaves, and other law and regulation. Due to that, they unable to get the right information to defend or protect their right when they face some issues and conflicts between an employer and organization. However, for those employees who have knowledge, it is easier for them to get the right information, also know how to protect and defend their rights as employees. Any argument or grievance to voice out to the employer and organization, which will be easier for them for retaliation and counter back with their knowledge and facts. In addition, a minority of these employees does not recognize that they are victims of inequitable discrimination, so understanding and have the knowledge about industrial laws can assist them to handle the discrimination problems in the workplace and help them to know about their rights before they become the victims of discrimination.
In a nutshell, knowledge brings power to life and the more knowledgeable you are, the more advantage you have over the other people. Therefore, from the lesson learned and the influence of it to our subject, we can see that knowledge and ethical behaviour are important to employees and everyone out there, which can lead a movement to force employers to become ethical. Additionally, the employee's right will always be protected, respected, and uphold by being knowledgeable and ethical. Nevertheless, if everyone is knowledgeable and ethical, I hope that in the workplace there will be no more kinds of mistreatment and discrimination leading to a better society and organization. Knowing the importance of knowledge, people must look to the potential avenues to gain knowledge and make use of it positively. Those who have knowledge are capable of commanding others, gaining respect, and ruling the world.

https://www.lawteacher.net/free-law-essays/employment-law/importance-of-understanding-legal-requirements-for-employment-employment-law-essay.php
https://www.upcounsel.com/lectl-rights-in-the-workplace

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Nadiyya Binti Mohammad Kassim (2018618934) BA7072A

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Nadiyya Binti Mohammad Kassim (2018618934) BA7072A

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Review on CEO Touchbase @ FBM talk
Salam Dr,

Most of us believe that we know the industrial relations. This vast field of research is the subject of the study of the labor market and employment. It is an area in which the factors affecting the work place are analyzed. But it's the place of work that has a huge impact on our living style and even culture. Another concept is related to employee relationships, which confuses many due to their similarity to work relations. It is a fact that in these times it is no longer relevant to look at the workplace from the perspective of workers ' unions. Let's see if the two connected concepts are different.

Industrial relations is the area of study which covers employment relationships in their entirety. The study of the relationships between workers and employers is generally considered. In the workplace there are a number of factors that shape the relationship between workers, employers and the government. The field of industrial relations came into being as an important tool for understanding the complex relationship between employers and employees with the emergence of the industrial revolution. The prospects of workers, employers, the government and a perspective of society are many different ways of looking at industrial relations. Obviously, if you are a worker, you would combine labor relations with better pay, workplace safety, work security and workplace training. In contrast, employers in industrial relations cover productivity, conflict resolution and labor laws.

Employee relations is a concept that is preferred to older industrial relations because they realize that there is much more on the job than industrial relations can look or cover. In general, employee relationships can be seen as a study of relationships between employees as well as workers so as to find ways to solve conflicts and contribute to improving the companies productivity by increasing employees motivation and morals. The field focuses on providing employees with information about the organizations objectives, so that they can understand better the management objectives and policies. Employees will also be aware of their poor performance and ways of performing correctly. Employee relations also deal with grievances and employee problems and inform them of their rights and what to do with discrimination.

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NUR SALIHAH BINTI MOHD NASRI 2018884426|HRM723|BA707 2A                                                                     

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NUR SALIHAH BINTI MOHD NASRI 2018884426|HRM723|BA707 2A                                                                     

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COMPETITIVE ADVANTAGE AT THE WORKPLACE: HARNESSING KNOWLEDGE AND ETHICAL BEHAVIOR

Based on the CEO Touch Base Talk with Mr. Zakri Khir, Chief Executive Officer of Allianz Malaysia Berhad at UiTM Puncak Alam, it can be said that it is important to have the knowledge, understand and learn about the subject matter and harness it in everything that we do because without having the knowledge we will not be able to improve ourselves. With the knowledge and harness it into our life, it will help us to expand the horizon. In other words it helps us to see current situation in different aspect as a whole. It also will help us to see a bigger picture and be independent. Everyone must have their own standing opinion and learn how to defense while others against it. Be the person your employer wants to invest in because every employer will want to hire the best hidden gem in new graduates. So they must prepare their selves with knowledge and skills. And lastly, there is no end to learning. For example like Ibn Sina, Ibn Khaldun and Ibn Battuta. The history shows that they broke the boundaries of common thought in order to discover the wonders of learning. Another example that have been showed by Mr. Zakri Khir is Nakhoda Awang. He is a slave own by Ferdinand Magellan. He is also named as Enrique of Malacca. He adapted in the situation in order to survive by harnessing his knowledge of celestial navigation.

Mr. Zakri Khir also highlighted on the ethical behavior. Behavior ethics and compliance are essentially different sides on the same topic. Compliance is following the law while ethics is doing what rights regardless of what law says. According to Mr. Zakri Khir, it is very important to have an ethics life because it tends to be good for business and involves demonstrating respect for key moral principles that include honesty, fairness, equality, dignity and etc.

Harnessing knowledge and ethical behavior will result in competitive advantage. Mr. Zakri Khir also stressed on the aspects of what sets an organization apart from competitors such as impeccable reputation, trust and accolades, customer satisfaction, good results, reliable and knowledgeable employees, innovation and research and leaders who “walk the talk”.

In conclusion, it can be said that it is very important to have knowledge and ethical behavior in life because by having these two elements, it will lead us to be better in life.

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COMPETITIVE ADVANTAGES IN THE WORKPLACE: HARNESSING KNOWLEDGE AND ETHICAL BEHAVIOR | TALK REVIEW

SITI NOR DIANA BINTI RAZALI (2018812264)

Assalamualaikum and have a good day Dr Husna,

After attending the CEO TALK seminar by Allianz on the 20th of March, there are many inputs I have gained about the organization as well as ways to be successful. Many tips have been shared to audiences during the seminar sessions in the hall. This seminar is divided into three sessions and three different speakers, the first session is the sharing of Harnessing knowledge and ethical behavior results in competitive advantage in the workplace by Chief Executive Officer Allianz Malaysia Berhad namely Mr. Zakri Khir. The second session by speakers Wong Woon Man, The Head Of Human Resources Allianz Malaysia Berhad on Job opportunities and positive work culture in Allianz Malaysia and the third session is a talk sharing of Journey of young, successful Allianz Malaysia agent by Ms Nurshamira Akmar Shahriar, Group Chief Executive Officer Empire Legacy Ventures.

According to Mr Zakri, his sharing is very deep, initially he touches the issue of the company's vision, mission and objectives then touches on the issue of education and the thinking of graduates today. He said the current generation of graduates lack knowledge and is at the same level with the Danish High School dropouts.He really stressed on the formula harnessing knowledge plus ethical behavior to get the output of competitive advantages. As we already know, industrial progress is impossible without cooperation and harmonious relationship. Therefore, it is in the best interest of all to create and maintain good relations between employees (employees) and employers (management) by using this formula that suggest by him.

Next, the second session of the talks by Ms. Wong is about culture in the workplace and what needs to be practiced by graduates and employees of how to dealing with people, ongoing assessment, wise of technology, ideas and new experience, stamina and so on. However, a lecture given by Ms. Wong did not take a long time because it is running out of time, so Ms. Wong is sharing important tips only. The last talk of Nurshamira is about his life journey from childhood to success as it is today. She is young and has a high spirit of success. He said, as a young generation we must always be convinced and look good to attract clients and customers to our organization. Relationships at work with colleagues and employers also need to be treated with care and we must always be positive all the time. This statement support with the industrial relation that we have learned in the class where the relationships employers and workers have with the organizations are formed to promote their respective interests, and the relations between those organizations, at all levels.

Hence, this seminar is very useful to us because it gives a clear picture of how the job atmosphere, the challenges of the employee and the shortcomings experienced by graduates to become effective and competent workers. It is also very closely related to industrial relations where it helps the workers to seek perfect working condition for producing maximum output. Knowledge and ethical behavior really giving impact to employees especially in employee performance. It is important for employee relation in developing the organisation and get satisfaction in working. Despite the lack of time and the duration of the seminar is not long, but the three topics at the talks by speakers quiet interesting and very useful given input to be applied to us.

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Dear Dr, kindly find my review as per your request.

A talk by Mr Afzal Abdul Rahim, CEO of Time.Com on Kickstarting your Career was held on April 3, 2019 in UITM Puncak Alam. During the talk, he shares on his journey from as early as his first job until the current one. He graduated from a mechanical engineering and his first job was working for Proton. Despite from his academic background, he has ventured and worked in various companies that is a different industry background from what he has learn in his alma mater.

Due to that, he stresses that the students that will be graduated soon need to be flexible rather than rigid for their future job. This is because, if the students are choosy and rigid about the job that is offered to them, they will unable to secure a job and there will be no added value in their career development. It is important for them to grab what they can get, as they might be evolved from that as they will gain a new perspective and talent.

Most importantly, to relate the sharing session with our subject, it is advisable for the student to have curiosity and learn about their surroundings. For instance, the graduates need to know the nature of business that their current employer is doing. They also need to dig out if the company has a trade union that they can join, if yes, how active are they in fighting for the employee’s rights. If there is no trade union, perhaps they can join the external trade union that is related to their company’s nature of business or even create a new union within the company itself.

In conclusion, it is vital for the new recruit to observe if the company is abiding with the employment act so that their rights will not be violated. The new recruit needs to be equipped with the employment act and be bold to tell the human resource department if they breach the law and if they failed to take any action on it, the new recruit needs to report it to the relevant ministry. As mentioned by Mr Afzal, we need to be bold in voicing out our opinion, thought and suggestion in order to be noticeable by the employer.

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Assalamualaikum and Hello Dr!

Based on the CEO Touch base program “Kick Starting a Career” that I attended last week at Universiti Teknologi Mara (UiTM), Puncak Alam, I noticed that Mr. Afzal which is the CEO of TIMEdotcom, stressed that the best way to Kick Start a Career is by making yourself standout and noticeable.  Noticeable is the ability of an individual to make themselves recognizable and noticeable among others. In my opinion, university is the best platform for an individual to make themselves standout and recognizable among other students. Mr. Afzal mentioned that to be noticeable, you need to be resourceful. The best way to be resourceful is through putting extra effort in improving and equipping ourselves with knowledge and makes use of other skills and experiences. For instance, student may make use of their free time by joining or participating in volunteering programs. Volunteering program is the best method for students to gain different perspective as the program allows them to meet new people and teaches them to mingle with different ethnic, races, religion and beliefs. Moreover, volunteering programs allows them to gain new perspective and help them to grow their mindset. Furthermore, student also may participate in a professional association as this not only helps them to improve their communication and leadership skills but this effort also might help them to build relationship and reach out to their potential employer. Student may conduct research regarding their desired company to work for and share their views or comments on their current business position and contribute their ideas on how to improve company. It should be noted that, student should not be afraid to voice their opinions and comment as this elements makes you stand out and noticeable among employers.

The second point that Mr Afzal mentioned is to be Flexible and always Respect your career. Flexible is the willingness and ability to respond and to be adaptable in changing circumstances and expectation. As a student, we need to train ourselves to be ready in facing future risk and to get out from our comfort zone. The best way to train students to be adaptable is through challenge them to participate in activities or programs that are beyond their comfort zone. It should be noted that, employee should never question it’s not my job’ or ‘do I have to?’ during exercising their duties and responsibilities. As a student, we need to bear in mind that we might not hold a position that is equivalent with our education background. Sometimes an accounting graduate might be working in sales and marketing department even though he or she doesn’t have any sales and marketing background.  Due to that, students need to be ready to take more responsibilities, do different tasks and they must have more skills to offer for their future employers. Moreover, students need to learn to respect their career when they entered the work environment. Mr. Afzal mentioned that respects your career means that an employee should pour their heart and soul in everything they do. This means that, respecting career is how an individual engaged with their work. For instance, the time and effort that an employee spend in performing their duties and the outcome that he or she produced from the hard work. It is important to note that, employee engagement is the best method to attract and capture the attention and heart of the employer.

The last point mentioned by Mr. Afzal is breakout from the Monoethnic Culture and master in English Language. Monoethnic Culture is a situation whereby there is an existence of a single ethnic group in a region or country. During the talk, Mr Afzal mentioned that to kick start a career, you have to be diverse whereby an individual should have multiracial friends. Multiracial friends means that an individual should mixed or mingle around with other races, religions and ethnic. This allows the individual to acquire different perspectives, ideas, knowledge and enhance their critical thinking abilities. For instance, when an individual be friends with difference races, each races have their own views and inputs on every aspect. This element not only provides more knowledge to the individual but also enable them to grow and change his or her mind set on every aspect. One of the best ways to have multiracial friend is by participating in sport club. As we all know, sports brings people together. Student may spend their leisure time by participating in soccer team, tai chi, cricket, muai thai, zumba or even a volunteering event. This way, student not only mingles with friends from different races but also from different age group. In addition, Mr. Afzal also stresses on mastering the English Language. It is important to note that, English is a Global Language. Therefore, it is compulsory for student to be fluent to speak and write in English to get employed. As we all informed, most of English courses are expensive but there are various interesting method to master the global language. The best method to improve English language is by owning an English dictionary and read English reading material such as magazines, newspaper, article, journal, novels, story books and etc. Apart from that, student may also listen to English songs and most importantly PRACTICE. It should be noted that, do not be afraid to make mistakes as mistakes makes you a master.

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KICK STARTING A CAREER (TALK REVIEW)

SITI NOR DIANA BINTI RAZALI (2018812264)

Hi and have a good day Dr Husna,

In 3th April, based on the CEO talk by En Afzal Abdul Rahim, CEO of Timedotcom, I found that networking in business or in the workplace is dominant and important for surviving in life also making profit. En Afzal really stressed on network because he said that making friends could help us to get many input and being better employee in organization. For instance, he actually the advisory of The FashionValet and The Duck which is he giving the consultation for Vivy Yusoff and her husband in increasing their business profit by using the right system.

As this talk is concerned on how to start career after graduating, En Afzal asking almost all the students in hall what our aims and which companies that we going to work later because as a final year and master student should start find and choose a few place to start a career. In his speech, he stories more about his journey and experience in previous working place and touched more in innovation.

As he speaks, to be a good employee should start from bottom and giving new creativity also innovation to the company. I.e. Sime Darby is one of the best companies we should work because this company is really focused on innovation products. En. Afzal also reveals a lot of reality working life and real world that people need to survive, therefore he always keep emphasize about the reality and how to plan our career.

Regarding to the talk and our subject, it’s can relate that in beginning to be a competent employee without wasting the timing is vital to starting a career with right ways and right aims. As well as, to be a good employer also should start with right system and keep networking with all people for gaining the information and communication. In working, communication is vital to deliver the understanding and information especially between employers and employees. That why, networking is important for maintaining our career.

From the lesson learned, I can conclude that to kick starting the career for fresh graduates compulsory for knowledgeable and know the real working environment to living in real world. Consequently, KSA’s as well as motivation is really a good beginning as employee neither employer particularly for the best decision-making and contributing better environment for organization.

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CEO TOUCHBASED @ FBM: KICK STARTING A CAREER (TALK REVIEW)

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CEO TOUCHBASED @ FBM: KICK STARTING A CAREER (TALK REVIEW)

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Sharifah Alwiah Binti Syed Bashir (2018299808) BA707 2A

Assalamualaikum and a very good day Dr Husna,

Based on the Touchbased @ FBM CEO's "Kick Starting a Career" program that has been delivered by Mr. Afzal Abdul Rahim, CEO of TIMEdotCom. From this program there are many inputs and knowledge that Mr. Afzal has shared. At the beginning of the session, he told a bit about the background and the journey of his career and the success he had achieved from the age of 19 until now. He told him he was an engineer at PROTON as early as 19 years old. At that time, in 1997, he received a salary of RM2500 with a RM500 allowance. Besides, he also said building a career isn’t easy, especially for graduates nowadays. It’s particularly difficult if they find themselves competing against people with better qualifications than they. Furthermore, between resumes and cover letters, job boards and social media, it’s hard to know where to start and even harder to get motivated to do much more than sit at your desk and daydream about a new performance.

In addition, they are several tips Mr. Afzal share with us during the talk session the ways to kick-start your career. First and foremost, by do an internship or get work experience which he said even unpaid internships are controversial, but work experience can be incredibly useful when trying to crack into any industry. Next, is grow your professional network with the right people. Networking is one of the most valuable things you can do. A contact made today may be the key to the ideal job in the future. Moreover, he also said to learn how to find the sources and go to the glass door. The very best way to be resourceful is through putting extra effort in improving and equipping ourselves with knowledge and makes use of other skills and experiences.  Furthermore, he also said that to be flexible and versatile with the willingness to be adaptable in changing circumstances and expectation. As a graduates or employees, they need to train themselves to be ready in facing future risk and to get out from their comfort zone. Besides that, he also stressed on to all the graduates by making themselves stand out, be noticeable, and put extra effort on what you what.

Based on the situation that has been shared by Mr. Afzal it can be correlated with what we had learned in industrial relations subject. First and foremost, he had mentioned regarding the situation when he was transferred to work with LOTUS in the UK and his intention to transfer to LOTUS was to study the relationship between PROTON and LOTUS. Heading to that, this is when viewed from an industrial relations perspective, transfer is one of the non-bargainable subjects in collective bargaining. Furthermore, other than transfers there are other non-bargaining subjects such as promotion, employment, termination, dismissal and reinstatement of employees, and the assignment or allocation of duties by the employer (Aminuddin, 2016).

Next, another situation that has been shared by Mr. Afzal is about the difference in salaries received by workers in the past and present. As per his said, rates of employment in the current day are lower than previously. Thus, if employees have a sense of discontent with the payroll system that has been implemented by an organization where they work, they can bargain on it through the trade union. Furthermore at Section 2 of the IRA 1967 had state that the demands relating to terms of employment such as wages, hours of work, and fringe benefits is one of the scope in collective bargaining which employees have right to bargain if they feel dissatisfied about their wages (Aminuddin, 2016). Therefore, the existence of a trade union in the industry helps employees to defend their rights. However, the union movement must be based on the laws that have been created by the Malaysian government such as the trade union act 1959.

In a nutshell, referring to the situation where the unemployment rate among the fresh graduates is high nowadays, it's important to get ahead of the game when it comes to the job market and kick starting to your career. Meanwhile, to have some knowledge about industrial relation and employment act also important for the graduates and employees out there. With that knowledge, graduates more exposed and can use that knowledge to speak out and protect their rights.

References:
Aminuddin, M. (2016). Industrial relation & employment law (9th ed.). Mc Graw Hill Education.

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TOUCHBASED CEO: KICKSTARTING A CAREER

Based on the Touchbased CEO program "Kickstarting a Career" delivered by Mr. Afzal Abdul Rahim, Chief Executive Officer (CEO) of TIMEdotCom at Universiti Teknologi Mara (UiTM), Puncak Alam campus, there are various inputs that he has shared to participants involved. At the beginning of the program, he started the session by telling a bit about his work background and experiences. He started his career as early as 19 years old and succeeded in becoming an engineer at Perusahaan Otomobil Nasional (PROTON) in 1997. At that point, PROTON paid Mr. Afzal for RM2500 and RM500 allowance in return for his service. In my opinion, considering the economic situation at the moment, receiving a salary that much would be very satisfying.

According to (Senthilathiban, 2018) through her writing referring to JobStreet's 2018 Salary Report says that the initial salary for a new engineer at the entry level was RM2,422 in 2018. This, if carefully observed, we can see that the wage gap in 1997 and 2018 do not have much difference, but the wages earned by employees nowadays are lower than ever and definitely impacted the new generation especially in the current economic condition. On the other hand, HSBC Bank Malaysia Bhd (HSBC Malaysia) report a study revealed that about 57 percent of parents in Malaysia still provide financial support to their children over the age of 18 years old. Adding to that, as much as 50 percent of parents still provide assistance although most of them (64 percent) believe that children need to be independent when they are adults (Anuar, 2017).

In conjunction with Industrial Relations, when an employee is a member of a trade union, they have the right to decide upon terms and conditions of employment through the process of collective bargaining. Wages and other terms and conditions of employment can be decided upon unilaterally (by an employer), bilaterally or jointly by the employer and the representatives of employees and wages councils. The Wages Councils Act 1947 is a piece of minimum wage legislation meant for the protection of employees who do not have the power to get fair terms from their employers (Aminuddin, 2007). One of the government initiative was the Minimum Wage Order 2012 that came into force in January 2013 which set the value of RM900 (or RM4.33 per hour) in the Peninsula and RM800 (or RM3.85 per hour) in Sabah, Sarawak and the Federal Territory of Labuan after the Prime Minister announced in May 2012 (Free Malaysia Today, 2018). Adding to that, (Malaysiakini, 2019) reported that all employers in the state are urged to respect and comply with the Minimum Wage (Amendment) Order 2018 which has been in force. The new order stipulates RM1100 per month for employees who are paid monthly salary and RM5.29 per hour for paid employees on an hourly basis. In addition, for employees who are paid daily wages, the minimum wage is set based on the number of working days a week.

How then later, Mr. Afzal was transferred to Lotus one of PROTON's subsidiaries in the United Kingdom. His move to Lotus is to study the relationship between PROTON and Lotus. It was very challenging for Mr. Afzal because he no longer worked as an engineer but was more inclined to the management area. He has no choice but to learn how to manage people and adapt to the new work environment and job scope. However, these are the issues that the employer refuse to bargain (managerial prerogatives) includes transfer together with promotion, employment, termination, dismissal or reinstatement of employees, and the assignment or allocation of duties by the employer. According to (National Human Resource Centre, 2019), it is well stated in the Industrial Relation Act that the right to transfer an employee from one post of an establishment to another, from one department to another, from one branch to another or from one company to another within the organization is the managerial prerogative. The Industrial Court will generally not interfere. But if the transfer is stimulated with improper purpose, it will attract the interference and jurisdiction of the court. The power to transfer is, therefore, subjected to, according to BR Ghaiye's Misconduct in Employment (at pages 254 and 255), the following well acknowledged restrictions:

(a) there is nothing to the contrary in the terms of employment;

(b) the management has acted bona fide and in the interests of its business;

(c) the management is not actuated by any indirect motive or any kind of
mala fide;

(d) the transfer is not made for the purpose of harassing and victimizing the
workmen; and

(e) the transfer does not involve a change in the conditions of service.

Currently, Mr. Afzal is the Chief Executive Officer of TIMEdotCom. He ended up being an entrepreneur after his father questioned his service for others instead of having his own business. He mentioned about being resourceful. Resourceful here refer to creating a network with people to aid our business and life. Being an entrepreneur himself will definitely force him to know about the Employment Act 1955, the Industrial Relation Act 1967 and also the Trade Union Act 1959. This is to prevent them from breaching any conditions which have been enforced and taken into legal action against them. Other than that, he also should know that employees has right to form a union (Section 5 of Industrial Relation Act 1967) in order to protect their right and there are few prohibition for employers relating to trade union (Aminuddin, 2007). Section 5 of Industrial Relations Act also states that no employer shall prevent a worker from joining a union by putting a condition in his contract of employment. Other than that, no employer shall refuse to employ a worker on the grounds he is a trade union member of officer and no employer shall discriminate against a worker (for example in terms of promotion) on the grounds he is a trade union member or officer. Adding to that, no worker shall be threatened with dismissal or dismissal if he proposes to join a trade union or if he participates in union activities. Last, no employer shall conferring or offering any advantages to induce person refrain from becoming union member.

However, there is a way that can be taken by employer if wanted to create a non-union environment in his business environment. According to (Aminuddin, 2007), one of the positive steps can be taken by employers to reduce or eliminate the employees from joining unions is to pay higher wages and give better benefits than those prevailing in comparable companies that are organized in the same locality. The employers should also involve employees at all levels of decision-making and effectively implement an open-door policy by the elimination of barriers of status. Next, employers can offer training, development and measure of security of tenure. Investment in training by the company shows that it values it employees and is interested in their development. Last, they should develop a climate of trust and loyalty in the organization through regular feedback and gathering information on causes of dissatisfaction to solve the problem.

Throughout the whole session, Mr. Afzal did share some tips on how to kick starting a career. He reminded students to stand up in the crowd by being brave to voice their opinions in public (based on facts). This is because it helps the individual to be aware of his or her existence and is more prominent. In addition, he also advised the students to be more versatile and flexible where they cannot be too narrow-minded on something. Then, students need to respect their careers by treating the career very well with putting effort and time so that it will bring a positive return to them afterward. Students also need to break apart the mono-ethnic thingy and do something that is more diverse. For example, get along with those who are not the same race, religion, and culture with them. Last, students need to master the English language to succeed because nowadays the English language somehow has become a priority in the work world.

In a nutshell, Employment Act 1955, the Industrial Relation Act 1967 and also the Trade Union Act 1959 definitely plays an important role in business industry. The implementation of these act was to ensure a healthy work relationship between employers and employees in an organization while protecting employees’ right from being discriminated. Apart from that, the students who will be graduating in a few moments in the future should have their action plan ready under their sleeve to step up the game competing with each other to get the job.

REFERENCES

- Aminuddin, M. (2007). Malaysian Industrial Relations & Employment Law. Mc-Graw Hill.

- Anuar, A. (2017, November 19). Utusan Online. Retrieved from Tiada ibu bapa mahu anak hidup susah: http://www.utusan.com.my/rencana/utama/tiada-ibu-bapa-mahu-anak-hidup-susah-1.555782

- Free Malaysia Today. (2018, April 30). Retrieved from Kesan positif gaji minimum: https://www.freemalaysiatoday.com/category/leisure/2018/04/30/kesan-positif-gaji-minimum/

- Malaysiakini. (2019, January 2). Retrieved from Gaji minimum: Majikan perlu patuh-Jabatan tenaga kerja: https://www.malaysiakini.com/news/458598

- National Human Resource Centre. (2019). Retrieved April 6, 2019, from Transfer Of Employees: Truly A Management Prerogative?: http://www.nhrc.com.my/rss/-/asset_publisher/hCox5XdI5nGy/blog/transfer-of-employees-truly-a-management-prerogative-

- Senthilathiban, K. (2018, May 24). EduAdvisor. Retrieved from The Highest Fresh Graduate Salaries in Malaysia in 2018: https://eduadvisor.my/articles/the-highest-fresh-graduate-salaries-in-malaysia-in-2018/

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Assalamualaikum and Hello Dr!

Based on the talk of Private Pension Administration that I attended last week at Universiti Teknologi MARA (UiTM), Puncak Alam I noticed that the speaker which is Mr. Mohamed Farith stresses students to start saving early for their retirement  savings. According to Chin (2015), the average life expectancy in Malaysia is currently 75 years old. An individual need to have financial knowledge so that they are equip with financial literacy and not only they know how to spend their money but also when, where and what are their money spend for. During the talk, Mr Mohamed Farith mentioned that retirement should start from the first time you earn income. This means that, once an individual entered the work environment he or she should starts planning for their retirement savings.

In my opinion, the best way to start a retirement saving is by assessing our necessary spending and saving amount. Apart from that, an individual must understand the necessary expenses by classifying the expenses into two groups which are most important expenses (foods, telephone bills, school loans and etc) and the less important expenses (entertainment, shopping, and etc).  This way, the individual will understand how to prioritize their spending habits. It is important to note that, the earlier you start saving, the better your chances in reaching your financial goal. Furthermore, Mr. Mohamed Farith also mentioned that if an individual starts saving in their 20’s, the individual would have almost 50% more retirement saving as compared to individual who starts savings for their retirement in their 30’s. For instance, individual may start saving in a small amount in the beginning of their career and the amount may increase as their career grow. This process can be done monthly so that the individual can keep track of their retirement savings.

In addition, Mr. Mohamed Farith also mentioned that, individual will gain wealth if they start saving early for their retirement. As we all know, people desires freedom and leisure when they retired. In my opinion, the best way to enjoy your retirement with freedom and leisure is by transferring your money into the saving account before you start spending. Moreover, this effort might reduce the chances of an individual to be bankrupt during their retirement. Consistent pace in retirement savings may avoid individual to be depending on others to cover their living expenses. Their early saving habits might help them to not giving up freedom and independence during retirement.

Furthermore, attitude toward health also one the important factor in retirement saving plan. Bernama (2016), reported that most Malaysians live relatively unhealthy lifestyles in which 47.7 % of Malaysian who are above the age of 18 are obese. From this we see that, most Malaysian neglected their health. It is important to note that, an individual should be health conscious as poor health might affect the ability to generate income. According to Ensel, O’neill and Xiao (2016), poor health might affect wealth accumulation process. Individual ability and willingness to engaged in healthy lifestyles might help them to save more money during their retirement as medical treatment these days are becoming more expensive. As we all know, health is wealth and due to that health conscious should be practice since youth so that individual may enjoy wealth, freedom, and leisure during retirement.

In a nutshell, retirement saving plan is very crucial for an individual as it help them to be more prepared to face future challenges or risks. Moreover, an employee should not only rely solely on EPF as it is insufficient. Retirement savings planning should start at the early age as the more you save, the greater your financial return.

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PRS @CAMPUS 2019: JOM! SAVE IN PRS

Based on the PRS @Campus 2019 "Jom! Save in PRS" program delivered by Mr. Mohamed Farith bin Mohamed Jamal conducted in Universiti Teknologi Mara (UiTM) Puncak Alam campus, there is so many useful information not only for students but also for lecturers and others for their future especially after retired from the world of work.

Private Retirement Schemes (PRS) is a voluntary long-term savings and investment scheme intended to help people to save more money for their life after retirement. PRS strives to increase the options available for all Malaysians (employed or self-employed) to increase their retirement savings under an organized and regulated environment. Each PRS propose a retirement funds options from which individuals may pick to invest in based on their own set of retirement needs, goals and risk appetite. The fund options under PRS are projected to boost long-term returns for members within a regulated framework (Private Pension Administrative, 2019).

According to the program’s speaker, Mr. Farith, a study shows that 85 percent of retirees regret not saving from a young age and out of 35 percent, only 1 in 3 Malaysians are financially literate. According to (Buang, 2018), retirees must also face escalating living costs and healthcare costs as the years go by in addition to insufficient savings to support their monthly needs for the next two to three decades. The minimum figure quoted by financial planners when they advise clients looking at retirement is that at age 60 they must have at least RM1 million in savings. If they do not have that amount, be prepared to live very frugally. Unfortunately, according to a recent study by Khazanah Research Institute, “people are borrowing too much and not saving enough”. The risk of “pensioner poverty” is frighteningly real. Thus, the existence of PRS is a national agenda and seek to help the people to save more for their retirement and secure a better living condition.

Later during the program, Mr. Farith also explained why someone should invest in PRS. First and foremost, investing in PRS is very affordable. An individual could save more with PRS by contributing a minimum of 10% monthly salary to grow their retirement savings. Second, it provides a lot of options and very flexible. People can decide either to invest in Islamic fun or conventional fund. Third, an individual can enjoy personal tax relief of up to RM3,000 per year. Fourth, it is secured and reliable as PRS is regulated by the Securities Commission Malaysia and the schemes are safeguarded by the Scheme Trustees. Fifth, it is a very convenient and easy investment as a choice of providers and self-selected funds or default option funds based on an individual age. Last, PPA provides one-stop account management and on-going member services to serve and protect your interests.

Comparing this national agenda with Malaysia’s government agenda, we can see that there is a major difference between their structures. The major difference is that PRS is not compulsory for an individual to become a member while the government agenda through the implementation of employees’ provident fund is compulsory for both employees and employers in the private sector. PRS giving more option to an individual who signed up with them to start saving their money as low as 10% of their income. For employees’ provident fund, the rate of contribution by the employee shall be calculated at 11% of the wage amount for the month, and the employer's contribution rate is 12% of the wage amount for the month. The amount of contributions included in cents should be rounded up to the next ringgit (Kumpulan Wang Simpanan Pekerja, 2019).

According to Kumpulan Wang Saku Pekerja (2019), employers are required to make EPF contribution payments at current rates as set out in the Employees’ Provident Fund Act 1991 and EPF Rules and Regulations 1991. If they fail to do so they are subject to the prescribed penalty. For example, under Section 41 (1) of EPF Act 1991, the failure to register with EPF as an employer within 7 days of hiring an employer may be imprisoned for not more than 3 years or a fine not exceeding RM10,000 or both. According to Section 46 (1) of EPF Act 1991, for the failure of a Director of the Company, a Partner of the Firm, a Designated Assignee to pay the EPF's outstanding contributions, the claim may be filed in court and the action taken may include bankruptcy, seizure and sale of assets, and passport arrest. Section 39 states that the EPF Board may apply to the Immigration Department to prevent any company director/partnership of a firm/business owner from leaving the country if the company/firm fails to pay the contribution as prescribed. As we can see, compared to PRS, the EPF is something that has been bound by the government and it is the employer's obligation to manage it transparently.

As a conclusion, the biggest difference between these two establishments is the PRS established as a voluntary long-term savings and investment scheme where it is not mandatory for all individuals, but the EPF is established as an obligation to employers and employees to make their salary contribution as savings for retirement. However, it can be said that the existence of these two organizations (PRS and EPF) carries the same intentions which are it actually aiming to help the public to provide a comfortable life after their pensions. Thus, it is important for people to start saving from a young age as it will result in a better living condition for them. Inability to oversee the relevance of this national agenda will lead to unhealthy life practice and will definitely be troublesome in the old days.

REFERENCES

- Buang, S. (2018, January 11). New Strait Time. Retrieved April 6, 2019, from Self-funding your retirement: https://www.nst.com.my/opinion/columnists/2018/01/323937/self-funding-your-retirement

- Kumpulan Wang Saku Pekerja. (2019). Retrieved April 6, 2019, from Kesalahan Dan Penalti: Jadilah Majikan Yang Bertanggungjawab: http://www.kwsp.gov.my/portal/employers/employers-responsibility/contribution/offences-and-penalties

- Kumpulan Wang Simpanan Pekerja. (2019). Retrieved April 6, 2019, from Pengiraan Syer Majikan dan Pekerja: http://www.kwsp.gov.my/portal/employers/faq/employer/employer-and-employees-wage-calculation

- Private Pension Administrative. (2019). Retrieved April 6, 2019, from What is PRS?: https://www.ppa.my/prs-and-you/

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PPA – PRIVATE PENSION ADMINISTRATION (Talk Review)

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PPA – PRIVATE PENSION ADMINISTRATION (Talk Review)

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Sharifah Alwiah Binti Syed Bashir (2018299808) BA707 2A

Assalamualaikum and a very good day Dr Husna,

On 4th April, I have attended a seminar delivered by Mr. Mohamad Farith Mohamad Jamal on the topic of "PPA – Private Pension Administration" which the program held at FSK6 in UiTM Puncak Alam. From this program, Mr. Farith had shared and introduced to us about the Private Pension Administration (PPA) which is Private Retirement Scheme (PRS). While attending the program there are several booths available such as Kenangan Investor Berhad, Public Mutual Berhad, CIMB, and RHB which can be selected as PRS providers. As to what Mr. Farith said PRS and EPF is a different type of scheme which PRS is just optional or voluntary saving for your retirement, while EPF is mandatory saving with contribution from both parties by employee and employer which already stated on industrial relation and employment law. Therefore, from this program I have learn and get information regarding the different between PRS and EPF.

First and foremost, Private Retirement Scheme is not compulsory or mandatory like EPF but it’s just optional saving for your future and retirement. As explained by Mr. Farith, the Private Retirement Scheme (PRS) is a VOLUNTARY long-term savings and investment scheme designed to help you save more for your retirement. PRS seek to enhance choices available for all Malaysians whether employed or self-employed to supplement their retirement savings under a well-structured and regulated environment. Furthermore, he also said each PRS offers a choice of retirement funds from which individuals may choose to invest in based on their own retirement needs, goals and risk appetite. Moreover, he also mentioned that to start saving during your young age which if an individual starts saving in their 20’s, the individual would have almost 50% more retirement saving as compared to individual who starts savings for their retirement in their 30’s. Additionally, World Bank recommends having at least two-thirds of our last drawn salary as the amount needed to maintain our standard of living after retirement. Besides that, Mr. Farith also stated several reason why need to save with PRS and it’s because PRS:

Contribute regularly at least 10% of your income towards your future

Can enjoy tax relief of up to RM3000 a year

Can nominate your beneficiary

Easy to invest with a choice of Providers, self-selected funds based on your age.

While different with the Employees Provident Fund (EPF) which is a social security institution formed according to the Laws of Malaysia, Employees Provident Fund Act 1991 (Act 452) which provides retirement benefits for member through the MANDATORY contribution from two parties which a portion of an employee’s salary and employer’s contribution on behalf of their workers (Aminuddin, 2016). The EPF actually provides a framework for employers to meet their statutory and moral obligations to their employees through persistent monthly contribution into the employee’s retirement fund. Furthermore, EPF in Malaysia is a form of social safety net run by the government that provides retirement benefits to its members. In addition, mandatory contribution creates the amount of money credited to members' individual accounts in the EPF and the amount is calculated based on the monthly wages of an employee. For employees who receive wages or salary of RM5,000 and below, the portion of employee's contribution is 11% of their monthly salary while the employer contributes 13%. For employees who receive wages/salary exceeding RM5,000 the employee's contribution of 11% remains, while the employer's contribution is 12%.

In a nutshell, saving money is very important for everyone. Without saving money, you will not increase your wealth and may continue to struggle or depend on your pay checks. Furthermore, starting to save money for retirement in your 20s means you will have a lot of money saved up once you reach the age of retirement. This means you'll be able to afford to do everything you always dreamed of doing when you finally retired. Moreover, an employee should not only rely solely on EPF as it is insufficient. The important thing is that you save enough so you can live off of it without having to work. Besides, you don't want to barely scrape by and have to work a part-time job during your retirement because you can't afford your lifestyle.

Reference:

Aminuddin, M. (2016). Industrial relation & employment law (9th ed.). Mc Graw Hill Education.

Private Pension Administrative. (2019). Retrieved April 6, 2019, from What is PRS?: https://www.ppa.my/prs-and-you/

Overview of Employee Provident Fund (EPF). Retrieved from http://www.kwsp.gov.my/portal/en/about-epf/overview-of-the-epf

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On April 4, 2019, a talk was held in UITM Puncak Alam on Private Retirement Scheme (PRS) by Private Pension Administrator (PPA). The students were exposed on the importance of saving through PRS as an additional financial backup apart from the Employment Provident Fund (EPF). PRS is a voluntary long-term savings and investment scheme designed to help them to save more for their retirement while EPF is mandatory.

Awareness of saving need to be instilled from young as it is full of benefits that will be a great reward in the future.  This was one of the main objectives why Private Pension Administrator (PPA) came to provide the talk to the UITM students. The students were informed about the benefits of PRS and the associated financial institutions such as CIMB, RHB and Public Bank.

The benefits of PRS is that it allows the contributor to choose the amount that they want to contribute. In addition, if the client would like to withdraw their saving before their retirement age, they will be charged a penalty of 8%. This is because they would like to discourage the members from withdrawing their money before the retirement age which is 55 years old. Saving money needs disciple and they must restraint themselves from withdrawing their savings and also spends wisely and practise how to be frugal. Unlike EPF, the client can withdraw their second account for the purpose of property purchasing and also for education’s tuition fees. However, with PRS, the client can discuss with the agent on the minimum amount that that the person would like to save based on their current salary.

In the end of day, it is up to the person on which medium that they want to save for their retirement based on their preference and dividend performance. It could be EPF, PRS or even ASB, the upmost important saving skill is through dedication, motivation and discipline.

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PRIVATE RETIREMENT SCHEME (PRS)

SITI NOR DIANA BINTI RAZALI (2018812264)

Assalamualaikum and have a good day Dr,

Based on the seminar that we attend on 4th April by Private Pension Administrator about Private Retirement Schemes (PRS), I got a new input about employees scheme and realizes that this scheme is actually different from the Employees Provident Fund (EPF). During this seminar, we were exposed to the PRS in more detail and benefits received by employees.

The speaker said to begin PRS funds; we can make commitments straightforwardly to the PRS Provider or through their enlisted merchants. Once effectively began our PRS investment funds we are naturally given a PRS account. Private Retirement Scheme (PRS) is a deliberate venture plan overseen by privately owned businesses, in opposition to the Employees Provident Fund (EPF), which is entirely claimed by the administration.

Nevertheless, their objectives for clients are the equivalent: spare funds today and get the advantages and in the long run, get a month to month pockets from the record after retirement. The benefits of PRS may be unclear before demonstrating some special PRS features. First and foremost is the choice of spending a monthly stipend after retirement creatively to meet customer needs. Furthermore, the individual tax relief of up to RM3,000 per year on your EPF tax relief and the various existing mutual funds are subject to investor risk.

Among PRS providers are Affin Hwang Asset Management Berhad, AIA Pension and Asset Management Sdn.Bhd., Am Investment Services Berhad, CIMB-Principal Asset Management Berhad, Kenanga Investors Berhad, Manulife Asset Management Services Berhad, Public Mutual Berhad, and RHB Asset Management Sdn. Bhd.

This seminar has helped the students to start thinking about the importance of wise investment and it is very closely related to our subject. Accordingly, PRS is one of the tools of investment to expand our wealth, let alone other investment products that are inherently riskier but more profitable. It should be noted that diversification is important to minimize investment risk. Therefore, as a potential employee, we have to make a wise choice today to enjoy our retirement.

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NUR ATIQAH BINTI ADAM (2018658222)

Hye Dr.

This is Atiqah. I would like to give my review regarding CEO Touch base program with Timedotcom at UiTM Puncak Alam.  The talk was about the Ceo of Timedotcom, Encik Afzal encouraged youngsters nowadays especially for students that will be graduating soon to learn and possess variety of skill apart from the knowledge that they received at university. Encik Afzal told that graduate have to be resourceful where they have to be more independent instead of just waiting to be spoon-fed. As competition nowadays becoming vigorous day by day, graduates should equipped themselves with knowledge or even special skill that can differentiate themselves with competitors. Besides that, Encik Afzal also stressed on graduates that will entering working world later should be flexible enough at work place. This is because sometime graduates have to do job that are not similar with the one that they had learn at the university. Apart from that, students should be diligent not only in study but also in life and be the best among the rest in whatever that they will do in the future. During the talk Encik Afzal also shared some expectation from the perspective of employer toward candidates that come for an interview such as excellent communication especially in English and people that seem motivated to learn. Other than that, Encik Afzal also advised graduates when start working in later in the organization, they have stand up and be noticed by the employer. This to ensure employer can get to know you more in depth and this can give positive impact on relationship between both employee and employer. Graduates must put extra effort, make different and impress the leader regarding whatever task that being given.

Regarding the topic that was highlight during the talk and to relate it with our subject, it is very important to have good relationship with employer at the organization. Employer and employee should be working in pleasant and non-volatile environment where employee and employer respect each other right. According to IRA 1967 Section 5, no employer may impose any condition in contract of employment seeking to restrain the right of a person to join a trade union or to continue his membership (Maimunah Aminuddin, 2016). Employer should not prevent if employee want to join any trade union or to continue his or her membership in trade union.  Sometime the reasons why employee want to join trade union are to ensure their right at work being protected and for social purpose. Employer should be fair and not doing any discrimination to employees on the ground that he is or is not a member or an officer of a trade union. On the part of employee side, they are free to join any trade union however as stated on IRA Section 1967 Section 7, they are prohibited to persuade another worker to join or to refrain from joining a trade union at the employer’s place of business, during working hours except with the consent of the employers.

As a conclusion, employees in the organization have their own right to join any trade union and employer should not prevent their employees to join it. However, even though employee join trade union, harmony relationship between both employer employees should be maintain so that both parties still can work together in the organization.

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Review on Private Retirement Scheme (PRS)

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Review on Private Retirement Scheme (PRS)

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Nur Atiqah Binti Adam (2018658222)

Hye Dr.

This is Atiqah. I would like to give my review regarding CEO Touch base program with Private Pension Administrator (PPA) at UiTM Puncak Alam. PPA is an independent Central Administrator for Private Retirement Schemes (PRS) Members. Some of PRS members that available on the day of the program were RHB Asset Management Sdn. Bhd, Kenanga Investors Berhad and CIMB-Principal Asset Management Berhad. The talk was held to encourage people especially youngsters to start saving for their old days. This is because youngsters nowadays tend to spend beyond their means which this can result they may not having enough saving when retire later. Savings takes time and the initial amounts may look small but they add up once compounded growth takes effect. In order to have sufficient saving for the future, youngsters should start saving and made it as habit. This not only give some advantages to the young people but it can encourage them to be independent which means they will not be a burden to those around them. When youngsters start to work later, they should know aware their right in the company in term of remuneration. For example, employee should know that they are eligible for Employee Provident Fund (EPF) in which if employer does not provide it, they can be punish by law.

Regarding the topic that was highlight during the talk and to relate it with our subject, it is very important employee to know their right in the organization such as on remuneration. When employee start working in any organization, they are eligible to retirement saving on Employee Provident Fund (EPF). If employer does not provide it, employer can be subject to legal action. EPF is an organization to which all employees and employer must make monthly saving contribution. This money is then made available to employees when they reach 55 years of age. The purpose of the Employee Provident Fund Act, 1991 is to ensure that workers are not destitute once they retire from work. The Private Retirement Schemes (PRS) have the same function with Employee Provident Fund (EPF) however PRS is another alternative for employee to save up money for their future. By having these two retirement schemes, it can help employees to have a bright future when they are old and not working anymore in other word retired.

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ARTICLE REVIEW:
THE PRESENT SCENARIO OF MALAYSIA INDUSTRIAL RELATIONS:
ACCOMMODATING OR CONFLICTUAL (2005)

1. INTRODUCTION

Malaysian industrial relations (IR) were commented by both foreign and local researchers in the literature in the past. Many of them commonly agreed that the state’s IR policies rather favour employers and repress unions. Therefore, the authors use Sharma’s (1996) theoretical model on the extent of industrialisation and patterns of IR (1996:26) in this paper in order to analyse the emerging pattern of IR in Malaysia. The paper argues that currently the pattern of IR in Malaysia is rather conflictual than concession accommodating even though Malaysia is already in the advanced level of a semi-industrialised country and might be considered as newly industrialised country (NICs) such as Taiwan, Singapore, and Korea very soon. Regarding labour policies, it strikes that some labour laws that have their origin in colonial and the post-colonial governments are applied up to the present day. This paper is divided into four parts. In the first part the theoretical model of Sharma on the extent of industrialisation and the patterns of IR is presented. Second, the economic development of Malaysia is highlighted briefly. Third, the issues on economic development and IR policies in Malaysia are discussed. Fourth, Malaysian IR policies are examined on the basis of Sharma’s model, which was explained in Section One. The paper concludes with the emerging pattern of IR in Malaysia.

2. FINDINGS

Since gaining independence in 1957, Malaysia has successfully diversified its economy from one that was initially agriculture and commodity-based, to one that now plays host to robust manufacturing and services sectors, that have propelled it to become a leading exporter of electrical appliances, electronic parts and components. Malaysia is one of the most open economies in the world, with a trade to GDP ratio averaging over 130 percent since 2010. Openness to trade and investment have been instrumental in employment creation and income growth, with about 40 percent of jobs in Malaysia linked to export activities. After the Asian financial crisis of 1997-1998, Malaysia’s economy has been on an upward trajectory, averaging growth of 5.4 percent since 2010, and is expected to achieve its transition from an upper middle-income economy to a high-income economy by 2024.

With less than 1 percent of Malaysian households living in extreme poverty, and the government’s focus has shifted toward addressing the well-being of the poorest 40 percent of the population (“the bottom 40”). This low-income group remains particularly vulnerable to economic shocks as well as increases in the cost of living and mounting financial obligations. Income inequality in Malaysia remains high relative to other East Asian countries but is gradually declining. For example, from 2009 to 2014 the real average household incomes of the bottom 40 grew at 11.9 percent per year, compared to 7.9 percent for the total population of Malaysia, thus narrowing income disparities. Following the removal of broad-based subsidies, the government has gradually moved toward more targeted measures to support the poor and vulnerable, mainly in the form of cash transfers to low-income households.

Malaysia’s near-term economic outlook will be more dependent on government measures to sustain private sector activity as an increasingly challenging external environment reduces opportunity for export-led growth, and reduced fiscal space limits the scope for public investment-led expansion. Over the longer term, as Malaysia converges with high-income economies, incremental growth will depend less on factor accumulation, and more on raising the level of productivity to sustain higher potential growth. While significant, Malaysia’s productivity growth over the past 25 years has been below those of several global and regional comparators. Ongoing reform efforts to tackle key structural constraints will be vital to support and sustain Malaysia’s development path.

According to the World Bank’s Human Capital Index, Malaysia ranks 55th out of 157 countries. To fully realize its human potential and fulfil the country’s aspiration of achieving high-income and developed country status, Malaysia will need to make further advances in education, health and nutrition, and social protection outcomes. Key priority areas include enhancing the quality of schooling to improve learning outcomes, rethinking nutritional interventions to reduce childhood stunting, and providing adequate social welfare protection to enable households to invest in human capital formation

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INDIVIDUAL REVIEW ON ATTENDED SEMINAR
SEMINAR:
COMPETITIVE ADVANTAGE AT THE WORKPLACE:
HARNESSING KNOWLEDGE AND ETHICAL BEHAVIOUR

SEMINAR: COMPETITIVE ADVANTAGE AT THE WORKPLACE:
HARNESSING KNOWLEDGE AND ETHICAL BEHAVIOUR
Review by Patrick bin Mehon
1. INTRODUCTION
On 20 March 2019, Wednesday at 10:30 a.m until 01:00 p.m the Faculty of Business and Management of Universiti Teknologi MARA, Kampus Puncak Alam, Cawangan Selangor was conducted a seminar under CEO Touch Base Program. The seminar was titled Competitive Advantage at The Workplace: Harnessing Knowledge and Ethical Behaviour. The main speaker for the seminar was Mr Zakri Khir the Chief Executive Officer (CEO) of Allianz Malaysia Berhad. The seminar was divided into three main topics from three different speaker. The first session deliver by Mr Zakri Khir is on the topic of Harnessing Knowledge and Ethical Behaviour Results in Competitive Advantage in the Workplace. The second session delivers by Madam Wong Woon Man, the Head of Human Resource Allianz Malaysia Berhad, on the topics of Job Opportunity and Positive Work Culture in Allianz Malaysia. The third and last session was deliver by Miss Nurshamira Akhmar binti Shahriar, the Group Chief Executive Officer Empire Legacy Ventures, on the topic of Journey of a young successful Allianz Malaysia Agent.
About Allianz Malaysia
The Allianz Malaysia Berhad has two main product and services which is the Allianz General Insurance Company (Malaysia) Berhad and the Allianz Life Insuarance Malaysia Berhad. the Allianz General Insurance Company (Malaysia) Berhad is among the leading General insurers in Malaysia. It has 30 branches and 8,3537 agents throughout Malaysia. Its offer a broad spectrum of personal lines, small to medium enterprise businesses and large industrial risks.For Allianz Life Insurance Malaysia Berhad, it is one of the fastest growing Life insurers in Malaysia. It has 23 branches and 4,333 agents throughout Malaysia. Its offers a comprehensive range of insurance and investment solutions in the aspects of whole life, savings, medical, employee benefits, investment and education.
The vision of Allianz Malaysia is to be the most reliable partner, always delivering in moments of truth. Their mission is as insurance solutions from A-Z. The Allianz Malaysia Berhad has 5 main core values. The core values include Customer Focus, Integrity, High Performance Culture, Open Communication and Corporate Social Responsibility.
2. FINDINGS
2.1 First Session: Harnessing Knowledge and Ethical Behaviour Results in Competitive Advantage in the Workplace
By Mr Zakri Khir the Chief Executive Officer (CEO) of Allianz Malaysia Berhad
The first session of the seminar focus on the topic of Harnessing Knowledge and Ethical Behaviour Results in Competitive Advantage in the Workplace. The session delivers by Mr Zakri Khir the Chief Executive Officer (CEO) of Allianz Malaysia Berhad. The speakers making questionnaires on what we need to do in other to stand out and make a difference. So, he emphasize in aspect of harnessing knowledge, ethical behaviour and competitive advantage as the strength of each individual to face the challenge in real industry.
On Harnessing Knowledge, Mr Zakri discuss the education is not the key to success, but the wisdoms and knowledge will determines our success. In the elements of wisdoms and knowledge, Firstly, Mr Zakri states that it will expand our horizon. It will reach out to different things, evolve, and try new things that challenge us to move beyond our comfort zone. Secondly, wisdoms and knowledge let us see the bigger picture. It will train our brain to think and see bigger picture, to ensure we are 10 steps ahead of the rest. Thirdly, knowledge and wisdoms will teach to be independent. He said, every relinquish the sense of dependency and utilise the edge we are given. Fourthly, knowledge and wisdoms will let us to be the person that employer wants to invest in. employer looks for the unpolished, hidden gem in new graduates. Equip our self with skills and knowledge that help us to adapt. Lastly, the knowledge and wisdoms will alert us as there is no end to learning. History shows the way to success is through acquiring knowledge. He sadi, the scholars like Ibn Sina, Ibn Batula, Ibn Khaldun were avid readers, broke the boundries of common thought in order to discover the wonders of leraning.
On the Etchical Behaviour, Mr Zakir share that integrity is our personal code of ethics. Firstly, to be a successful person, we need to be integrity in all accounts. We need to always strive for integrity in all of our actions and words. The integritrial will let us doing rights things even when no one is watching. Secondly, we need to be a good example. As a good example, we need being honest with strong ethics, and moral principles. When we are a show good example, we will able to admit our faults and taking responsibility for all of our actions. Thirdly, we need to be transparent. A person with integrity is transparent with transparency comes trust. Fourthly,
Harnessing Knowledge
Ethical Behaviour
Competitive Advantage
with integrity we speak up and speak the truth. We can only be at a place of authority if we are not scared of the truth no matter how hard it is or frank we need to be. Fifthly, with integrity as a personal code of ethics, it will be a steadfast in our duties. With passion comes hard work and positive work ethics.
The Competitive Advantage is the strength of each organization need to face the challenge in real industry. There are some determinants that set the barrier to the organization apart from the competitors. The determinants of these competitive advantages include impeccable reputation, trust and accolades, customer satisfaction, goods results, reliable and knowledge employees, innovation and research and leaders who ‘walk the talk”. For example, Norway is the country that applies to their society that thrives because of ethics Scandinavian countries. Norway are highest competitive advantage country in the region. They are non-corrupt government with social insurance schemes that are not swindled. They are got blooming economy with high GDP per capita. They support neighbourly and state support programs everyone especially those in need. Norway almost free public health service, everyone pays a cap free to get free service for the rest of the year. They also adapt people centred government, with Government Pension Fund Global (Statoil –Petroleum Fund). Norway also got low crime rates. Their society got high level of education. All of these criteria made them got a high competitive advantage compare with other nation. This also applies in individual to be adapt in their personality. The higher comparative advantage, the higher the chances of opportunity we will get.
As a conclusion to build a successful career, we need to integrate this Successful Career Model of Competitive Advantage. The harnessing knowledge teach us that intelligence earns respect, Ethical Behaviour will separates us from common man and the competitive advantage will keep us ahead of the pack.
Diagram 1: The Successful Career Model of Competitive Advantage
2.2 Second Session: Job Opportunity and Positive Work Culture in Allianz Malaysia
By Madam Wong Woon Man, the Head of Human Resource Allianz Malaysia Berhad
For the second session of the seminar, they focus on the topic of Job Opportunity and Positive Work Culture in Allianz Malaysia that deliver by Madam Wong Woon Man, the Head of Human Resource Allianz Malaysia Berhad. The second session was presented with brief discussion by the speakers. She shares the real situation happen in Allianz Malaysia regarding the job opportunity we got when we join the Allianz. She also was highlighting the positive work culture in Allianz Malaysia. Madam Wong emphasizes our readiness from campus to cooperate life. We need to get ready on ourselves regarding the competency in wise use of technology because electronic advancement parallel with the development of an organization. We also need on-going assessment. Besides that, ideas and new experiences is also important, for contribute the creative and most innovative idea to help the organization to grow. We also need good method dealing with people because good communication will lead to convinced our potential client to trust with our offer product and services. Next, stamina also needs to be at the optimum condition for productive work environment and lastly we need to manage upwards pocketbook.
2.3 Third Session: Journey of a young successful Allianz Malaysia Agent.
By Miss Nurshamira Akhmar binti Shahriar, the Group Chief Executive Officer Empire Legacy Ventures
For the last and the third session of the seminar was presented by Miss Nurshamira Akhmar binti Shahriar, the Group Chief Executive Officer Empire Legacy Ventures, focus on the journey of a young successful Allianz Malaysia agent. The speaker shares her experience regarding her involvement in the Allianz Berhad as the young insurance agent. She told us about the challenges she need to face in other to retain in that industry. The application of Successful Career Model of Competitive Advantage was very important to enhance her interpersonal skill when dealing with clients from different background. She able to handle the rising issue when she working and she successfully control working under pressure with the empathize in the Successful Career Model of Competitive Advantage.
3. CONCLUSION
As a conclusion from the Seminar of Competitive Advantage at the Workplace: Harnessing Knowledge and Ethical Behaviour we can associate it with the theory of Employee Relation. We need to be knowledgeable, in other to stand out and being professional with our selected career. The seminar emphasize the journey in campus to the corporate world is different. In campus we study about the theory, while when we joint the industry, we will apply all those theory we studied back in campus. Having a career is very important, because it will motivate us to survive for our daily basis to meet our needs and wants. As an employee we need to be knowledgeable and aware regarding the industrial relations and employment law itself. A study of industrial relations and employment law involves an examination of the relationship between workers and their employers within the work environment. The employment laws provide laws provide the legislative framework for the system of industrial relations. The laws outline the rights and obligations for the parties at the workplace, but the student of this significance area must also consider how the parties implement the law and the problem they face in doing so. When we join the industry, we need to conscious on the importance of industrial relation that stresses three major areas. The first area focus on the relationship between employers and trade union, the second area focus on the framework provided by the employment laws and the third area focus on the disciplinary procedures and termination of the employment contract. In conjunction of theory in Malaysian industrial relations and employment law, we need to master the Successful Career Model of Competitive Advantage to create the competitive advantage at the workplace
REFERENCES
Maimunah Aminuddin. (2016) Malaysian Industrial Relations and Employment Law, Shah Alam, Selangor: McGraw-Hill Education (Malaysia) Sdn. Bhd.
Nurshamira Akhmar binti Shahriar, 2019, March 20. Seminar: Competitive Advantage at the Workplace: Harnessing Knowledge And Ethical Behaviour: Journey of a young successful Allianz Malaysia Agent
Wong Woon Man, 2019, March 20. Seminar: Competitive Advantage at the Workplace: Harnessing Knowledge And Ethical Behaviour: Job Opportunity and Positive Work Culture in Allianz Malaysia.
Zakri Khir . 2019, March 20. Seminar: Competitive Advantage at the Workplace: Harnessing Knowledge And Ethical Behaviour: Harnessing Knowledge and Ethical Behaviour: Results in Competitive Advantage in the Workplace
END OF REVIEW

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INDIVIDUAL REVIEW ON ATTENDED SEMINAR
SEMINAR:KICK-STARTING A CAREER WITH MR AFZAL ABDUL RAHIM

SEMINAR: KICK-STARTING A CAREER WITH MR AFZAL ABDUL RAHIM
Review by Patrick bin Mehon
1. INTRODUCTION
On 3 April 2019, Wednesday at 10:30 a.m until 01:00 p.m the Faculty of Business and Management of Universiti Teknologi MARA, Kampus Puncak Alam, Cawangan Selangor was conducted a seminar under CEO Touch Base Program. The seminar was titled Kick-starting a Career with Mr Afzal Abdul Rahim. The main speaker for the seminar was Mr Afzal Abdul Rahim the Chief Executive Officer (CEO) of TIME dotCOM.
TIME dotCom (TIME) was listed on the Stock Exchange of Malaysia since 2001, is a fixed line telecommunications provider that connects businesses and homes by harnessing the talents of the most capable people and the latest available technologies. TIME is based in Kuala Lumpur, TIME offers a full suite of domestic and international connectivity, and data centre solutions to the Wholesale, Enterprise and SME & Consumer markets. They also deliver pure fibre home broadband services at speeds of up to 1Gbps to consumers in Malaysia – the country’s fastest.
TIME vision is a global one, and their strategic stakes in international submarine cable systems such as Unity, Asia Pacific Gateway (APG), Asia-Africa-Europe-1 (AAE-1) and FASTER, enable us to meet this vision by connecting Asia to the rest of the world and back. Their cable landing stations are a crucial component of their international submarine cable assets, serving as termination hubs for seamless international and domestic connectivity. TIME also offer international-class storage and value-added ancillary services through our certified, carrier-neutral data centre facilities.
For the continuous excellence TIME have been in business for more than two decades, and have built a reputation for high-performance solutions, product innovation and unwavering customer commitment. Their pledge is to continue pursuing service excellence and pushing the boundaries of technological performance, while offering best-in-class telecommunications solutions in Malaysia and beyond.
2. FINDINGS
The session of the seminar was started with the sharing session on the background of the speaker. Mr Afzal Bin Abdul Rahim has been the Commander-In-Chief at Time Dotcom Bhd. since October 7, 2008. Mr Rahim serves as Independent and Non-Executive Director at CIMB Group Holdings Bhd. since January 31, 2019. Mr Rahim serves as the Chief Executive Officer at Time Dotcom Bhd. Mr Rahim founded the Malaysia Internet Exchange (MyIX) in 2006. He served as Chief Executive Officer of Applied Information Management Services, Sdn Bhd (AIMS) from April 2003 to October 2008 and served as its Corporate Development officer from October 2000 to April 2002. He served as Business Development Manager/Proton Client Manager of Group Lotus PLC from August 1998 to September 2000 and served as Chassis Development Engineer of Proton Berhad from November 1997 to July 1998. He served as a Non-Executive Director of CIMB Bank Berhad since June 29, 2016 until 2019. He has been Non-Independent Executive Director at Time Dotcom Bhd. since October 7, 2008 and served as Executive Director of AIMS from April 2002 to October 2008. His Professional Affiliation includes Commonwealth Partnership for Technology Management (CPTM), Member of International Advisory Council, Global Smart Partnership Movement and Global Convenor-Club 29 Youth Movement. Mr Rahim holds a B.Eng (Hons) in Mechanical Engineering with Electronics, specialising in Acoustic Wave Theory from the University of Sussex, United Kingdom.
The focus of the seminar is the sharing session by Mr Afzal in kick starting a career when we graduated based on his own experience. The first component he shared to start our career is to ensure ourselves standout and noticeable from the others. There are several ways he mentions to be able standout among the other. Firstly, we need to always available sharing idea and suggestions. Get started on our own field of work by suggest ways to do it more efficiently. For example, even if our manager is blocking it, keep working on it. It will show us a dynamic worker. Secondly, he said doing a work crosses the job border area. One time, our manager is sure to hear news about our excellent in conducting a job. For example, if we are working in a customer service department and a customer needs help, give help beyond our scope of work to ensure that customers are satisfied. Customers will praise the companies that provide the best service. Thirdly, we are creating a proactive nature. As a worker we are willing to solve
problems that may be faced with future planning. We need to think of suggestions to solve these problems so we can impress our colleagues with our ability to look far and provide solutions to the problem
The second component in kick starting a career that mentioned by Mr Afzal is creating ourselves to be flexible and always respects our careers. Flexibility is the capacity to adjust to short-term change quickly and calmly, so that we can deal with unexpected problems or tasks effectively. When we are flexible, versatile, resilient and responsive to change, we can adapt to unexpected demands in the workplace. For example, sudden surges in work, urgent problems, or an unpredictable event like a cyber-security breach or financial crash, for instance. In other to be flexible and respects our careers, firstly we need to focus on our core values. Having key attributes that don't shift can keep our grounded during periods of change. Using our core values and our organization's culture as anchor points will help us to decide what we can and cannot agree to when we receive an unexpected request. For example, taking on responsibility for a project that will get our team nearer to meeting its annual target is one thing; but, if this involves doing something that is legally or ethically dubious, we should steer clear. Secondly, to be flexible and respects our careers we need to be open-minded. We will likely find it easier to understand and manage a situation if we look at it from different perspectives. For example, if we are looking to launch a new product, we might first like to analyse it from different viewpoints. Make it a priority to listen to and understand the views of the other people involved. Thirdly, to be flexible and respects our careers, we need to develop our skill set. We need to enhance and develop our skill. If we don't make an effort to learn new skills, we will likely find that when an unexpected event does occur, you won't be equipped to deal with it. For example, tackle this by staying curious about what's going on around you. Keep up-to-date with new industry trends by reading up on the latest innovations and research, and broaden your knowledge by cross-skilling.
The third component in kick starting a career that mentioned by Mr Afzal is get out from the Monoethnic Culture and master in English literacy. Monoethnicity is the existence of a single ethnic group in a given region or country. It is the opposite of polyethnicity. Ethnic relations in Malaysia are dynamic in nature. There are also some social tensions between ethnicities that end up with conflict. Hence, measuring the perception of ethnic relations is important to ensure the stability and development of our country. Through a face-to-face relationship built on a recurring pattern of social relations. Hence, the management of cultural diversity, recognizing and respecting the presence of various groups within the organization or society, recognizing and respecting the social norms among them as well as promoting and sustaining the continuing contribution of each member inclusively is an important reference in building a good ethnic relationship in a workplace. For example, in the organization, diversification management emerges as a continuous process with the various talents and capabilities inherent in diverse societies is recognized and brought into an organizational culture. This process is aimed at creating a healthy, inclusive, and safe for difference environment, celebrating diversity, and maximizing the full potential of all people in a cultural context that ensures everyone benefits.
Master in English literacy is very important in build our career said by Mr Afzal. English has a lot of complex history, but it has a bright future. Because too many people speak English, they help connect us in the global world. It also helps in our personal and professional lives. Firstly, English opens new career opportunity. First of all, learning English can help you pursue and gain more career opportunities. Nowadays, the job market is vast-many companies require employees who can communicate with customers from around the world. In other words, it means finding English-speaking workers. For example, by learning English, we can be a translator, linguist or working in marketing in English for a global company.
3. CONCLUSION
As a conclusion from the Seminar: Kick-Starting a Career with Mr Afzal Abdul Rahim we can relate it with the theory of Employee Relation. When we started a career after graduating, based on Mr Afzal thought, we need to ensure ourselves standout and noticeable from the others, then we need to creating ourselves to be flexible and always respects our careers and get out from the Monoethnic Culture and lastly master in English literacy. Those entire components become the preparation in joining the real industry. As an employee, we need to know our right on the legal basis. We need to know the employment act and related acts when we leaving the university as the preparation to start up the career. Individual employees and employers are free to enter into employment contracts but these contracts must comply with the relevant employment legislation. Probably most important piece of legislation as far as Malaysian employees are concerned is the Employment Act, 1955. The purpose of this Act is to provide a number of minimum benefits for those workers covered by the Act and to establish certain rights for both employers and employees. In many ways the Act is now out-dated. Although it has been amended a number of times since it was first introduced, some of the changes have only served to make it more difficult for employers to apply the requirements of the Act.
REFERENCES
Afzal Abdul Rahim, 2019, April 3. Seminar: Kick-Starting A Career with Mr Afzal Abdul Rahim
Maimunah Aminuddin. (2016) Malaysian Industrial Relations and Employment Law, Shah Alam, Selangor: McGraw-Hill Education (Malaysia) Sdn. Bhd.
TIME dotCOM contributors. (2019, 3 April). Corporate Overview. Retrieved 20:53, April 3, 2019, from https://www.time.com.my/corporate-overview
Wikipedia contributors. (2019, May 24). Monoethnicity. In Wikipedia, The Free Encyclopedia. Retrieved 11:19, April 3, 2019, from https://en.wikipedia.org/w/index.php?title=Monoethnicity&oldid=898542201
END OF REVIEW

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INDIVIDUAL REVIEW ON ATTENDED SEMINAR
SEMINAR:JOM! SAVE IN PRS. PRS @ CAMPUS 2019

SEMINAR: JOM! SAVE IN PRS. PRS @ CAMPUS 2019
Review by Patrick bin Mehon
1. INTRODUCTION
On 4 April 2019, Wednesday at 10:30 a.m until 01:00 p.m the Faculty of Business and Management of Universiti Teknologi MARA, Kampus Puncak Alam, Cawangan Selangor was conducted a seminar titled Jom! Save in PRS. The main speaker for the seminar was Mr Mohamad Farith Mohamed Jamal, Manager, Learning and Engagement, Private Pension Administration (PPA) . The seminar focus on the introduction of Private Retirement Scheme to student for their preparation in future.
Private Retirement Schemes (PRS) is a voluntary long-term savings and investment scheme designed to help us save more for our retirement. PRS seek to enhance choices available for all Malaysians whether employed or self-employed to supplement their retirement savings under a well-structured and regulated environment. Each PRS offers a choice of retirement funds from which individuals may choose to invest in based on their own retirement needs, goals and risk appetite. The fund options under PRS are intended to enhance long-term returns for members within a regulated framework.
The objective of PRS created as a high income nation must have a sound and sustainable social security framework to ensure adequate retirement savings. The PRS is an integral feature of the private pension industry as part of the Economic Transformation Programme under Entry Point Project 6 (EPP 6), with the objective of improving living standards for Malaysians at retirement through additional savings. With the regulatory framework developed by the Securities Commission Malaysia, PRS forms the 3rd pillar of Malaysia’s multi pillar pension framework.
2. FINDINGS
2.1 REASON FOR CHOOSING PRS
The speakers, Mr Mohamed Farith asserted the PRS contribution may be one of the best things we can do for our retirement. There are 6 elements as the reason for choosing PRS for each of the individual. Firstly, PRS designed for retirement. PRS was established with the main aim of helping us accumulate more savings for our retirement in future. Secondly, PRS is affordable savings. We could save more with PRS by contributing a minimum of 10% monthly salary to grow our retirement savings. Thirdly, PRS IS easy investments. It is because choice of providers and self-selected funds or default option funds based on our age. Fourthly, PRS is tax incentive, PRS will let us enjoy personal tax relief of up to RM3,000 per year depend on terms apply. Fifthly, PRS becomes central administrator to contributors. PPA provides a one-stop account management and on-going member services to serve and protect your interests. Lastly, PRS regulated framework. PRS is regulated by the Securities Commission Malaysia and the schemes are safeguarded by the Scheme Trustees.
2.2 REGULATORY FRAMEWORK
For the PRS regulatory framework, the PRS regulatory framework is established under the Capital Markets and Services Act (CMSA) 2007 and is regulated and supervised by the Securities Commission Malaysia (SC) to ensure robust regulation and supervision of the PRS industry whilst promoting trust and confidence in the PRS. There is a proper segregation of roles and responsibilities of all key parties in the PRS industry. There are 4 main key components of PRS regulatory framework powered by Securities Commission Malaysia. There are PRS Distributors and consultants, Private Pension Administrator Malaysia (PPA), PRS providers and Scheme Trustees. Each regulatory framework got their roles and responsibilities. For Securities Commission Malaysia (SC) itself, it empowered by the Capital Markets & Services Act 2007 (CMSA) to regulate the PRS industry.SC provide a regulatory environment and enhance the development of PRS industry.
For Private Pension Administrator Malaysia (PPA), its roles and responsibilities to protect members’ interest.PPA also provide a life-time central account management, facilitating transactions and promoting efficient administration. Its acts as a one-stop resource centre.PPA
will educate the public and promoting awareness on PRS. PPA also will provide central administration and developing the industry.
For PRS Providers, their roles and responsibilities are to exercise the PRS Providers’ powers for a proper purpose and in good faith, in the best interest of the members as a whole. PRS providers also exercise the degree of care and diligence. This statutory body also keep complete and accurate records of all information. They will not make investments in which it could have a financial interest or derive a benefit without approval of the Scheme Trustee. PRS providers will provide interim reports, annual reports and account statements.
For Scheme Trustee their roles and responsibilities are to ensure compliance of PRS Officers and Delegates. The scheme also provides accurate valuation and pricing. They will sure accuracy of all transactions to avoid unnecessary costs or risk to the fund. The scheme trustee will adequate accounting for all accounts.
For PRS Distributors and Consultants, their roles and responsibilities are as PRS Distributors are licensed for dealing in PRS or registered persons under the Capital Markets and Services Act (CMSA) 2007. PRS Consultants are representatives of PRS Distributors and need to be registered with FIMM. Institutional PRS advisers are licensed bankers to distribute PRS schemes from more than one PRS providers. Corporate PRS advisers are financial planning firms that represent and distribute products from more than one PRS Provider and can act on behalf of the contributors. PRS Consultants must obtain minimum knowledge of the PRS industry and act with integrity and a high level of professionalism.
2.3 STRUCTURE OF PRS
To start our PRS savings, we may choose to make contributions directly to the PRS Provider or through their registered distributors. Once we have successfully started our PRS savings we are automatically given a PRS account. PPA, as the central administrator for PRS will be administering our PRS account and will provide us an annual consolidated statement of our PRS account with the PRS Provider(s).
Diagram 2.3.1: Structure of PRS
Diagram 2.3.2: PRS Provider & Fund Options
We may choose to contribute to one (1) or more PRS Provider. Under each PRS Provider, we can further choose to invest into one (1) or more funds by either contributing based on the default option (age-based selection) or select a fund based on our preferred choice.
One of the special features of the PRS is that it makes investing our savings for retirement easy with its default option of core funds. PRS default option for core funds offer a packaged mix of underlying asset classes that provides growth, moderate and conservative risk and returns based on evolving life stages towards retirement. Each PRS Provider must offer three (3) core funds as a default option in their PRS. If we choose the default option we will be allocated to the following core funds based on our age grouping.
Default option funds offer an automatic glide path in managing our funds towards retirement. The auto glide path is a unique feature of the default option funds where the PRS fund manager automatically switches our funds from a higher risk growth asset allocation to a more conservative lower risk asset allocation as capital preservation should take priority as our approach our retirement. This auto glide path makes it easy for us to manage our risk exposures over time based on a defined age grouping within each default option funds.
Alternatively, if we prefer to choose our own funds (self-selected option), we may choose any of the non-core PRS funds, which will require us to be actively involved in selecting funds based on our risk and return expectations. However, this will often require us to seek advice from a licensed PRS Consultant.
3. CONCLUSION
As a conclusion from the Jom! Save In PRS. PRS @ Campus 2019 we can relate it with the theory of Employee Relation. The PRS is an initiative under the Capital Market Master Plan 2 to accelerate the development of the private pension industry, which is designed to provide additional retirement funding. The PRS is expected to contribute towards establishing the 3rd pillar (voluntary) as part of the country’s robust pension scheme. Each PRS scheme is required to appoint an approved PRS scheme trustee to actively monitor the operation and management of the fund under the scheme by the PRS Provider to safeguard the interests of members. The scheme trustees has a fiduciary duty to ensure that the PRS Provider comply with the scheme’s deed and disclosure document. In addition, the PRS scheme trustee provides custodianship of the PRS fund’s assets. For Malaysian industrial relations and employment law, PRS is very important as the social security laws for the employees. The social security system is an ideal system for every individual would make arrangements so that in the event of any financial problem, he or she would have sufficient funds to deal with financial crises. Some of these contingencies may never happen, but for others, there is a high probability that they will occur. Because the average person is not able to put aside money for the future, most countries' governments have established some system provide designed of ensuring the social security of their citizens. These systems are financial protection to people whose incomes are reduced because of: to unemployment, post-retirement, accident or serious illness, child birth and upbringing of children, and death of an income earner. PRS quiet similar with Employees Provident Funds, EPF. EPF is the post-retirement income security that can provide in a number of ways including voluntary savings and investment by individual workers, state-provided pensions, employer-provided pensions and savings schemes contributed to jointly by both employers and employees which may be voluntary or required by law. Most countries encourage a combination of one or more of the above systems, Furthermore, different groups of people in society may be covered by different schemes. For example, in Malaysia, public sector employees are provided with a pension by their employer whereas private sector employees contribute to a state-run provident or savings scheme.
REFERENCES
Maimunah Aminuddin. (2016) Malaysian Industrial Relations and Employment Law, Shah Alam, Selangor: McGraw-Hill Education (Malaysia) Sdn. Bhd.
Mohamad Farith Mohamed Jamal, 2019, April 4. Seminar: Jom! Save In Prs. Prs @ Campus 2019
Private Pension Administator contributors. (2019, April 4). Private Retirement Scheme Retrieved 20:45, April 4, 2019, from https://www.ppa.my/prs-and-you/learn-more-about-prs/
END OF REVIEW

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Salam Dr, Wow best la guna padlet ni. Alhamdulillah, I have learn something new today. And the most important thing is Dapat Jumpa You allos bestnya

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Salam Dr, Wow best la guna padlet ni. Alhamdulillah, I have learn something new today. And the most important thing is Dapat Jumpa You allos bestnya