Healthy 6.8% rise in Sime Q3 net profit

By Star Online: Business
31 May 2012

KUALA LUMPUR: Sime Darby Bhd's third quarter ended March 31 net profit increased 6.8% to RM876mil on the back of a 8.8% increase in revenue to RM11.03bil compared with the previous corresponding period on better results from the plantation, industrial and property divisions. Earnings per share increased to 14.58 sen from 13.65 sen previously.

For the nine-month period, net profit was up 29% to RM3.05bil on a 16.3% increase in revenue to RM33.48bil. Thus, earnings per share improved to 50.77 sen from 39.14 sen.

Sime Darby president and group chief executive Datuk Mohd Bakke Salleh said the company was on track to exceed the group's net profit Key Performance Indicator of RM3.3bil for the full financial year.

For the nine-month period, there was a loss from discontinuing operations of RM66.2mil, which was in relation to the disposal of its oil and gas business which consists of Teluk Ramunia and Pasir Gudang fabrication yards. These yards were sold to Petronas Assets Sdn Bhdand Malaysia Marine and Heavy Engineering Sdn Bhd respectively for a total of RM689.4mil.

Quite impressive: (From left) Wahab, Tong and Bakke appear happy analysing the group’s third-quarter results.

“Most of the cost from this disposal has been provided for. We shouldn't be seeing any more in the next quarter,” said Sime Darby group chief financial officer Tong Poh Keow

For the nine months, earnings from plantation rose by 19.2% largely due to higher average crude palm oil (CPO) price realised of RM2,881 per tonne as against RM2,828 in the previous period coupled with higher production of fresh fruit bunches (FFB). Midstream and downstream activities continued to suffer losses of RM65mil for the period.

“If CPO prices could average between RM3,000 and RM3,200 per tonne over the next few months, I would be very happy,” said Bakke.

Meanwhile, CPO production improved by 5% due to the improvement in the oil extraction rate to 21.8% from 21.3%. FFB also rose by 1% to 7.5 million tonnes. Malaysia's FFB yield per mature hectare increased by 7%, partially offsetting the 11% decline in Indonesia's FFB yield per mature hectare due to a shift in crop pattern experienced, particularly in the Kalimantan region. As a result, FFB yield per mature hectare for the group declined by 0.2%.

Segment wise, gross profit from the industrial division increased by 41% to RM985.8mil for the nine-month period, underpined by strong demand in mining, logging and construction sectors in Australasia, Malaysia and Singapore. All regions performed well except for China and Hong Kong which had been impacted by a contraction of the construction sector mainly as a result of local government fiscal policies.

The motor division reported a 4.6% increase in gross profit to RM461.5mil. This lower growth rate was attributable to the weaker demand in Hong Kong and China and a forward contract loss of RM27.5mil against a gain of RM40.9mil a year ago. Other regions registered improved contributions.

Gross profit from the property sector increased by 49.9% to RM314.7mil mainly due to an increase in property development works completed in its townships of USJ Heights, Bandar Bukit Raja and Ara Damansara.

“The overall take-up rate for the quarter has improved to about 80% to 90% from the first half of our financial year. We will be looking to launch our latest township, El Mina, in the first quarter of 2013,” said Sime Darby group COO and managing director of Sime Darby Property Datuk Wahab Maskan.

Maskan added that El Mina would be a township covering some 1,599 acres with a gross development value of RM25bil.

For the nine months, gross profit from the energy and utilities registered a 64% increase in profit to RM280.8mil while the healthcare segment was marginally down by 5.2% to RM18.1mil. Its other businesses recorded a gross profit of RM34.9mil, which is an increase of 188.4%.

Meanwhile, Sime Darby said in a separate filing with Bursa Malaysia that it was reviewing a proposed biogas project following the withdrawal of Mitsui & Co Ltd as a partner.

It had entered into a memorandum of understanding with Tenaga Nasional Bhd (TNB) and Mitsui on April 4, 2011 to conduct a feasibility study on the potential of the project.

“Both TNB and Sime Darby Plantation Sdn Bhd are currently reviewing the terms of the proposed collaboration to move forward with the project,” it said.

In the filing, the firm also said discussions were ongoing between its plantation unit, the Malaysian Government and other participants in the development of the oil palm biomass centre.

“While the (final consortium) agreement is under negotiation, a preliminary study is being conducted to identify where the collaborative research will best support the national biomass initiative,” it said.

[Source]

TM’s Q1 net profit rises on growth across key products

By Star Online: Business
31 May 2012

KUALA LUMPUR: Telekom Malaysia Bhd’s (TM’s) year-on-year (y-o-y) first quarter net profit for the period ended March 31 surged 53.5% to RM250.63mil from RM163.31mil on the back of revenues rising by 11% to RM2.38bil.

“The growth was mainly attributed to positive growth across all key products – internet and multimedia, data, voice and other telecommunication related services,” TM said in a statement.

Earnings before interest, tax, depreciation and amortisation grew by 7.1% y-o-y from RM730.9mil in the first quarter of FY2011 to RM782.6mil in the first quarter of FY2012 attributable to higher operating revenue.

Group profit after tax and minority interest rose 53.5% y-o-y to RM250.6mil compared with RM163.3mil in the corresponding quarter in 2011 due to higher revenue and higher unrealised forex gain on US dollar debt.

“In the first quarter, we saw our internet revenue grow to RM563.4mil, representing a 24.3% y-o-y growth on the back of an 11.4% increase in customers for both Streamyx and UniFi. Collectively, our broadband customer base grew to 1.97 million in the first quarter of 2012 from 1.77 million in the same period last year,” said chief executive officer Datuk Seri Zamzamzairani Mohd Isa.

“UniFi continued to perform above our expectations in the first quarter of 2012. In terms of coverage, we rolled out to 1.2 million premises covering 78 exchange areas. In terms of take-up, we had activated 315,745 customers, which represents a net addition of 33.5% or 79,244 customers quarter-on-quarter or more than 250,000 customers y-o-y,” he said.

TM expects UniFi customers to achieve at least 400,000 by the end of 2012 with the number of premises passed increasing by 200,000 to reach 1.34 million.

TM plans to tap on the new growth area of information and communications technology / business process outsourcing (ICT/BPO) regionally, said Zamzamzairani.

“Our emphasis on a new growth area for TM is ICT/BPO, and we are poised to tap into this growing sector with our offerings in areas such as cloud computing and managed services. In fact, leveraging on the foundation we have laid with our regional connectivity and capabilities, we recently launched our first regional data centre facility in Hong Kong,” he said.

“This is in line with the group’s aspiration to be a regional ICT/BPO powerhouse via our ICT/BPO arm, VADS Bhd,” Zamzamzairani added.

[Source]

Carlsberg Q1 earnings, revenue up on CNY campaign

Star Online: Business
31 May 2012

PETALING JAYA: Carlsberg Brewery Malaysia Bhd net profit in its first quarter to March grew 6.98% to RM52.36mil from RM48.94mil a year earlier while revenue rose 11.5% to RM454.05mil from RM407.22mil on the back of a successful Chinese New Year campaign.

Earnings per share increased to 17.13 sen from 16.01 sen.

In notes accompanying its results, the brewer said it recorded higher sales during the Chinese New Year period and strong growth in its share of premium beer segment with the launch of its locally-produced Asahi brand.

Asahi Super Dry was Carlsberg’s first premium beer brand to be brewed locally in December, and the company is planning to do the same for Kronenbourg.

“The group benefitted from the successful 2012 Chinese New Year festive campaign. Our flagship Carlsberg brand remains Malaysia’s most preferred beer, according to recent consumer research done by Millward Brown,” managing director Soren Ravn said in a statement.

“We continue to grow (market) share in the premium beer segment with additional new momentum from the launch of Asahi beer and continued strong sales of Kronenbourg 1664.

“In the coming months, the group expects to benefit from the Euro 2012 campaign for Carlsberg brand and outperform in the premium segment, driven by Asahi, Kronenbourg 1664 and other premium beer brands through its subsidiary Luen Heng F&B Sdn Bhd.”

[Source]

Genting posts lower net profit to RM694mil

By Star Online: Business
31 May 2012

KUALA LUMPUR: Genting Bhd recorded a lower year-on-year (yoy) quarterly net profit for its first quarter ended March 31 to RM693.63mil from RM824.18mil on the back of revenues also declining to RM4.42bil from RM4.89bil respectively.

The company said that lower revenue was recorded from all its business segments except for the property division which recorded higher revenue due to better demand for the Genting Plantations Bhd's industrial and commercial properties.

“The (property) division's revenue also included rental income from properties owned by the Genting Malaysia Bhd in Miami, Florida which Genting Malaysia had acquired in the second quarter of 2011. The higher revenue contributed to a higher EBITDA (earnings before interest, taxes, depreciation and amortisation) from this division,” it said in a statement yesterday.

Genting's profit before tax also included a gain on disposal of subsidiaries of RM174.3mil arising from the disposal of the company's indirect 100% equity interests in Genting Oil Natuna Pte Ltdand Sanyen Oil & Gas Pte Ltd to AWE Ltd.

[Source]

Sunway - Earnings to be stronger in the coming quarters Hold

By Am Research
30 May 2012

- We reaffirm our HOLD rating on Sunway Bhd (Sunway) with our fair value unchanged at RM2.70/share, assigning a 25% discount to our sum-of-parts value of RM3.60.share.

- Sunway’s 1QFY12 net income came in at RM64mil, which is short of our, and street’s expectations covering only 19% and 18% of full-year estimates, respectively. No dividend was declared for the quarter.

- Earnings slid by 35% QoQ on the back of a 15% drop in revenue. This can be explained by slower progress billings, for which there was a 34% drop in property development revenue. However, this was offset by stronger profit recognitions from its Singapore projects.

- Similarly, the construction division was weaker QoQ – margins down to 3% from 8% – as there was a strong contribution from its Abu Dhabi projects in the previous quarter, while there was a slight delay in the LRT extension works. 

- However, we are sticking to our estimates, with the group currently sitting on a record construction order book of close to RM4bil, taking into account YTD contract wins and healthy unbilled sales of RM2.2bil. Earnings should recover in the coming quarters as construction of its property and infrastructure projects pick up pace.

- To recap, the group has already met its RM1.5bil order book renewal target, with about 27% of the value consisting of in-house jobs, i.e. substructure works for Sunway Velocity. 

- Although Sunway is still in the mix for other MRT packages (viaduct and station), we believe WCT and IJM are favourites for the station works and having already won the V4 package, Sunway may find its chances limited for any one of the remaining viaduct packages.

- Sunway is currently trading at quite a steep discount (36%) to its SOP and one of the cheapest stocks in our conglomerate coverage – trading at a CY12F PE of 9x vis-a-vis its peers of 17x. While the stock looks attractive, there are no near term catalysts. 

HOLD

Price: RM2.29

Fair Value: RM2.70

[Source]

Top 17 GLCs score all-time high net income of RM20bil last year

By Star Online: Business
30 May 2012

KUALA LUMPUR: The top 17 government-linked companies (GLCs) recorded an all-time high net income in 2011 of RM20.1bil from only RM9bil in 2004 reflecting a growth of 18.2% per annum, according to the Putrajaya Committee on GLC High Performance (PCG).

The 17 corporations are part of the so-called G20, an earlier selection of 20 GLCs that make up the PCG, which are now down to 17 due to mergers, demergers and other corporate restructurings.

Among the highlights of G20 recent performances were G20 total shareholders' return outperformed the rest of non-G20 FBM KLCI by 0.8% per annum from May 14, 2004 to May 18 this year, growing at 13.7% per annum compared with non-G20 FBM KLCI's 12.9% per annum.

G20 market capitalisation more than doubled to RM319bil from RM140bil over the same period and delivered a return on equity of 11.8% in 2011, up from 10.6% in 2010.

“GLC tranformation programme continues on the path of success, with GLCs on a strong growth trajectory and becoming fundamentally stronger companies continue to make strong progress in the eighth year of its 10-year implementation plan.

“This is reflected in the further inroads the GLCs have made in regional markets and their significant contribution to the national economy since the start of the programme,” said PCG in a statement.

In terms of regional expansion, PCG said GLCs had made inroads into regional markets where from 2004 to 2011, G20 foreign sales grew from 26% to 33% and their foreign assets grew from 13% to 26%.

“In addition, the G20 also employ 147,230 employees in 40 different countries with 1,509 branch offices in Asean alone,” it said.

Also, The GLC Transformation Programme has seen the Government-linked investment companies and GLCs successfully played a key role in contributing to the Malaysian economy and the G20 returned RM62bil in dividends and RM40bn in taxes from 2004 to 2011 and GLCs had invested RM92bil domestically since the start of the programme.

Going forward towards 2015, the statement said the road ahead for GLCs would be challenging as the Government has intensified the transformation effort with the recent introduction of various transformation programmes.

“The GLCs' active involvements in these initiatives are critical as the fraternity forms a significant part of the country's economy. There have also been new expectations on GLCs to lead in areas related to nation building such as supplying talents and investing in human capital, driving innovation and promoting equitable distribution.” it said.

The 17 firms that formed the G20 are Affin Holdings Bhd, Axiata Group Bhd, BIMB Holdings Bhd, Boustead Holdings Bhd, CIMB Group Holdings Bhd, Chemical Company of Malaysia Bhd, Malayan Banking Bhd, Malaysian Building Society Bhd, Malaysian Resources Corp Bhd,Malaysia Airlines, Malaysia Airports Holdings Bhd, Sime Darby Bhd,Telekom Malaysia Bhd, Tenaga Nasional Bhd, TH Plantations Bhd,UEM Group Bhd and UMW Holdings Bhd.

[Source]

AEON to expand to east M’sia

By Star Online: Business
25 May 2012

KUALA LUMPUR: AEON Co (M) Bhd is set to mark its presence in East Malaysia in three years time.

“We are at the advanced stage of our research on the market there and have identified several sites for this purpose,” said chairman Datuk Abdullah Mohd Yusof.

The company, which operates 25 Jusco stores and four MaxValu supermarkets nationwide has also set its eyes on the East Coast, where it plans to have a presence over the next three to five years he said after a shareholders’ meeting here yesterday.

Abdullah said AEON was targeting to grow “more than” the 4.4% same-stores-growth it registered last year helped by the opening of new stores.

AEON will open its 26th store in Sri Manjung, Perak by the end of this year.

It has allocated about RM350mil this year for the opening of new stores and the refurbishment of existing ones.

“Our growth will be organically driven for now,” said Abdullah.

He also said the company had no plans to set up a real estate investment trust for the moment.

AEON Malaysia is the largest contributor to its parent Japan-based Aeon Japan Ltd’s revenue outside of Japan.

For the first quarter ended March 31, AEON posted a net profit of RM37.6mil on revenue of RM779.4mil.

[Source]

MBM Resources- As Anticipated- Hold

By Maybank IB Research
25 May 2012

Maintain HOLD, TP at MYR2.83.  1Q12 results were on track. While
the auto sector is in recovery mode and MBM’s long-term strategic
plans look promising, we reckon most of these positives are priced in.
Our target price (ex-rights and bonus) pegs MBM at 7x FY13 EPS.  

Results within expectations. Reported 1Q12 net profit of MYR41m
(+58% QoQ, +7% YoY) contained a MYR5m gain from the sale of a
property under 78%-owned Oriental Metal Industries (OMI). Excluding
the one-off item, MBM’s core net profit of MYR36m (+39% QoQ, -6%
YoY) accounted for 23% of our full-year forecast, in line, considering
that 1Q12 is perceived to be the weakest quarter of the year. No
dividend was declared in 1Q12. MBM’s net gearing level was 19% in
Mar 2012 versus 16% in Dec 2012.

Hirotako, OMI and associates led growth.  Underlying QoQ profit
growth was driven largely by: (i) higher EBIT contributions from its auto
components division (+619%), as recently-acquired Hirotako’s results
were fully reflected from Jan 2012 and OMI reported an 11% sales
growth, and (ii) stronger associate profits (+12%). This was offset by
weaker EBIT contribution from the motor vehicle division (-18%),
impacted by a 15% drop in DMMS Perodua vehicle sales and higher
costs incurred for the building and upgrading works at its dealership
networks for VW and Hino.

We are keeping our forecasts unchanged.  MBM aims to re-jig its
earnings profile for a more balanced contribution from its core
businesses: manufacturing, motor trading and associates. Current
earnings are heavily reliant on 23%-owned  Perodua. MBM targets
pretax profit contributions from  associates, manufacturing and motor
trading to be at a more balanced 46:36:17 ratio in 2012 (2011: 67:9:24).

High planned capex will likely compromise dividend payments.
MBM plans to spend about MYR250m over 2011-15 (2.4x the capex
spent over 2006-10) with the bulk to be spent on: (i) its alloy-wheel
manufacturing plant (OMI: RM103m), and (ii) expansion of the 3S
network dealerships (i.e. VW; RM20m per network). We think the high
capex will likely compromise dividend payments. We forecast a lower
dividend payout of 10% of net profit for the next three years.


Share price: MYR2.83
Target price: MYR3.15

[Source]

Axiata Group: Maintain Hold - Headwinds Persist

By Maybank IB Research

23 May 2012

Nothing to see for now. The seasonally weaker 1Q12 came in at 22% 

of our full year forecasts, in line with expectations. Data grew strongly 

but at the expense of  margins and free  cashflow, a double whammy 

that is unlikely to lift until 2013.  Regulatory risks in India and 

Bangladesh are  key  concerns, as  are  rising competitive risks in 

Malaysia courtesy of Maxis. Maintain HOLD with a raised EV-derived 

TP of MYR5.30 (+4%).

Within expectations. A relatively decent quarter, all things considered. 

Net profit of MYR566m (+3% YoY, +4% QoQ) formed 22% of our full 

year forecasts amidst a seasonal slowdown. We note the  consensus 

mean has come off 6% in the last three months as the MYR 

appreciated against pretty much every currency. No dividends were 

declared. Cash hit a record high of MYR7.5b but this will be depleted 

by MYR1.3b once the 15 sen final DPS is paid in June.

Double whammy from data.  As expected,  EBITDA  margin fell  1.5 

percentage points YoY as data demand soared, especially in Indonesia 

where data jumped 71% YoY. Data still carries just half the margin of 

voice.  This  was amplified by the  continued push to expand data 

coverage in Malaysia and Indonesia, which bumped capex up by 28%

YoY. Group-wide, capex intensity  was  high at 25% and management 

expects it to stay high in the next few quarters. 

Currency, regulatory and competitive concerns. Currency risks 

loomed large in 2012’s KPIs, which call for a rather muted 5.3% topline 

and 1.8% EBITDA growth. In Malaysia, Celcom has Maxis’ challenge in 

prepaid and IDD to face, while overseas, Idea and Robi may have to 

pay and invest a lot more for 2G/3G spectrum. Market leader Bharti has 

also recently slashed 3G tariffs by up to 70%, which will surely drive the 

Indian market into another tariff war.

No change to forecasts, maintain HOLD. Axiata has been resilient 

but other than the doubling of dividend payout to 65% for FY12, we see 

no other positive catalysts until 2013 when data margins could start to 

improve. Yield is also not outstanding but not too bad at 4%. Our EVbased target price is raised to MYR5.30 on a lower beta assumption.

Share price: MYR5.38

Target price: MYR5.30

[Source]

QL Resources: Maintain Buy - Buy For The Stable Growth Ahead

By Maybank IB Research
23 May 2012


Maintain BUY. QL’s FY3/12 net profit of MYR132m (+6% YoY) came
below our expectations, making up 93% of our MYR142m full-year
forecasts. We should nevertheless see a stronger contribution from its
overseas operations in FY3/13-14 as  capacity  utilisation  gathers
momentum. We maintain our earnings estimates and reiterate our BUY
call with an unchanged MYR3.75 DCF-based target price.

FY3/12 below expectations. In 4QFY3/12, net profit of MYR32m was
flat YoY but down  7% QoQ  due to a seasonal impact on its Marine
Product division. However, contributions from its new surimi plant in
Surabaya and new  layer farms in Cianjur, Indonesia and Tay Ninh,
Vietnam,  helped the group to achieve another year of growth with
another record profit.

Contribution from Indonesia. Revenue from the Marine Product
division grew 8.2% YoY in 4QFY3/12 due to higher contribution from
both Malaysian and Indonesian operations. Pre-tax profit jumped 29%
YoY as margins expanded a healthy 1.8ppts. Cumulatively, revenue for
the division grew 5% YoY in FY3/12 but margins were hit by lower fish
landing in 1H, which caused the PBT margin to decline by 1ppt YoY.

Durable growth in Livestock division.  The Integrated Livestock
division recorded another year of growth in both revenue (+12.5% YoY)
and pre-tax profit (+6.6% YoY). Revenue growth was due to
contributions from its new farms in Tay Ninh  and Cianjur, but startup
costs and lower margins from its feed raw materials trading caused a
slight 0.5-ppt decrease in pre-tax margins.

Volatile CPO prices. In FY3/12, the Palm Oil division booked in
revenue of MYR355m (+6.8% YoY) due to a higher average CPO price
of MYR3,150/mt compared to MYR3,000/mt in FY3/11. Pre-tax profit
surged due to higher contributions from its own estates, as well as
higher associate contributions. That said, revenue and pre-tax profit
plunged 26% and 59% YoY respectively in 4QFY3/12 as a result of
lower CPO prices.


Share price: MYR3.16
Target price: MYR3.75

[Source]

Tips on what to do during an interview for a job

By Star Online: Business
22 May 2012

Ask and you shall receive; turn the tables at interviews by asking smart questions

Yippee! You've finally landed an interview for your dream job at your dream workplace. You've done everything humanly possible to prepare for the big interview updated resume, researched the company, dry-cleaned your lucky interview clothes, spent hours online “googling” interview tips and even practised the entire interview with your mother.

At the interview, you sit confidently facing your interviewer, exchange pleasantries, and answer everything thrown at you confidently. And then it happens! The interviewer asks you “do you have any questions for me?” And you blankly stare back, look perplexed but answer “NO” and muster a smile. And the interviewer smiles back and thus ends the interview. You think you aced the interview but you don't get the job.

Why didn't I get the role?

Our ability to answer questions impressively in an interview is just a small part of the hiring equation. Our research on HR leaders also points to another important element in an interview process often neglected: How you ask questions!

Research indicates that questions posed by interviewees can be equally important in establishing a positive first impression. Your questions help interviewers assess the quality of your thought process and discerning skills, creating an impression that you are a proactive, intelligent and confident person.

Conversations, not interrogations

Most of us subscribe to the belief that the hiring manager should be asking the questions, but we can have a lot of influence in the outcome of the interview by changing the session from an interrogation into a dialogue. And you can only do that through the confident questions you ask.

In the past ten years, I have interviewed more than a thousand candidates from entry-level graduates to senior leaders and I find that the best interviews are lively back-and-forth discussions rather than one-way interrogations. The folks that generally get hired are the conversations that are most engaging and thoughtful.

By posing a few poignant questions of your own during the interview, you will showcase your ability to think on your feet, analyse information and respond to changing situations appropriately. Asking the right questions will also allow you to get a better sense of work at the company. Most importantly, if you ask questions correctly, it reinforces in the mind of your interviewer that you are not “desperate” to land a job and may have other choices, forcing them to do “sell” and convince you to take the role.

What are the right questions?

While it is good to know that you should also ask questions during an interview, the main issue will be: what questions should you ask?

I recall many occasions when I was asked in an aggressive manner how much pay was being offered within ten minutes of the interview. Others asked about payments for overtime work. Questions about salary and payment early in the interview process reinforce your motivation and in this case, it showcases your primary motivation is money and not growth, development or learning. Never discuss money issues. It will be brought up later.

Prepare questions in advance. But the best interviews are when candidates ask questions throughout the course of the interview. I find the best way to have interactive discussions is to be observant while you wait for your turn to be interviewed. Look around. Observe the posters, walls and interactions between people in the office. You may be able to pick up good material for interesting questions.

Here are some tips and techniques that will help you craft the right questions in your next interview.

n Involve the interviewer

Don't focus your questions solely on the role you are interviewing for. Involve the interviewer and personalise questions by asking the interviewer about their own experiences with the company. Interviewers love to speak. By involving them, they get emotionally involved and it is hard for them to not like you. During my first job interview while in the US, I asked my interviewer about his most memorable experience recently with the company. He spoke about watching a soccer game at the 1994 World Cup with the CEO. I quickly brought up that I played soccer for my university and we began a conversation on soccer, which went on for 45 minutes. I enjoyed the “interview” and apparently so did the interviewer. A few hours later, after finishing a number of other interviewers I noticed many folks were crying after coming out of the room of the interviewer who spent 45 minutes talking soccer with me. I soon realised that he was a mean and nasty interviewer who grilled candidates till they tear. But my fun soccer conversation derailed him from grilling me and instead he engaged conversationally with me. I got the job too!

n Focus on key issues

Listen well and take the information that the interviewer is sharing with you and use it to raise more complex queries which showcase your deeper understanding of the issues at hand. Questions that begin with words such as “how” or “why” are usually better at going deeper. If you are not good at formulating questions on the spot, prepare beforehand.

n Don't waste time

Don't ask questions to which the answers are apparent or easily obtainable with a little pre-interview research. I hate people asking about things which can easily be googled. Ask questions that will make the interviewer see how thoughtful and creative you are, not how lazy or unprepared you are.

n Don't interview your interviewer

Do not submit your interviewer to another interview. This is not an interrogation, for either the interviewer or yourself. Remember, your goal is to make the interview a conversation be positive and allow interaction from both sides. And if the interviewer keeps looking at her watch or is bored, you may be asking too many questions.

n Finish by asking for next steps

Your last question should focus on next steps in the hiring process. Ask about time-lines. Ask if there is any supplementary information required from you. Leaving the interview with a clear direction of what actions need to be taken always works to your advantage.

What questions to ask

The questions you ask should be sincere and genuine as experienced interviewers can easily see through your act. Here are my top 10 questions that you can ask during the interview:

1. What are opportunities to grow my career at your organisation? this questionemphasises your determination to grow over the long term.

2. You mentioned there will be a lot of customer interactions/research/etc in this role. How does this relate to the key objectives of this role? this question serves two purposes as it demonstrates your listening skills and showcases how you try to link every part of the role to key KPIs.

3. What are some of your most memorable experiences at this company this question enables you to involve the interviewer and begin conversations.

4. What are the most enjoyable and the least enjoyable parts of the role? another great conversation starter.

5. Can you please tell me how the role relates to the overall structure/purpose/objective of the organisation? this question draws attention to yourdesire to know where you would fit in and how your contribution would affect the rest of the organisation.

6. How would you describe the work culture here? another good question to begin a conversation on work culture and how you can thrive in this new culture

7. In what way is performance measured and reviewed? this question gives the impression that you understand the value of commitment, reliability and returns.

8. What are the most important issues that you think your organisation will face? this showcases your interest not just in the job but in the organisation..

9. You have recently initiated a new service/product/project; how will this benefit the organisation? this questions shows you have done some research, thinking, and are now eager to hear their analysis.

10. Do you have any doubts about whether I am suited to this position? this question suggests you are open to constructive criticism and willing to learn from others, and it gives you a chance to address any weaknesses the interviewer may think you have.

So, ask questions. Remember, answers alone won't get you the role.

Roshan Thiran is CEO of Leaderonomics, a social enterprise. Roshan questions why people don't ask more questions. Questions change the world. Not answers. All great breakthroughs came from someone asking questions.

[Source]

Robert Kiyosaki | Bye-Bye Capitalism

Bye-Bye Capitalism
By Robert Kiyosaki 

Many fear that a second-term win by President Barack Obama will signal the end of capitalism. Newsflash: Capitalism has been dead for years. 

Capitalism did not survive World War I, when that war destroyed the classic gold standard upon which capitalism was built. Once the gold standard became history, governments took over the economies of the world…and capitalism died. 

By definition, capitalism is an economic system in which the private sector drives production via capital accumulation. In true capitalist societies, the government plays a very limited role. Today, the U.S. government represents over 25% of the economy, and has not only bailed out General Motors, but financed a variety of dubious ventures. 

During World War I, capitalism was replaced by credit-ism, which means the war was paid for by the creation of unprecedented levels of government debt. All that credit caused the bubble known as the Roaring Twenties. The Great Depression was the result of debt that could not be repaid 

Likewise, World War II resulted in the complete government control of the economy. 

In 1944, the world signed the Bretton Woods Agreement, and the U.S. dollar, now backed by gold, became the new paper gold. As the war ended, the economy stabilized. This caused many to believe that the war ended the Great Depression. In reality, having a stable currency stabilized the economy, and capitalism came back to life — temporarily. 

Soon government spending on social welfare programs and the military accelerated. The United States also began importing more than it exported, buying Toyotas and Mercedes from former enemies — and gold left the United States coffers, as governments began redeeming dollars for gold. 

In 1968, with rising concerns that the United States would soon run out of gold, the United States removed the legal requirement that the U.S. dollar be backed by gold. This violated the terms of the Bretton Woods Agreement. Capitalism died, once again, and credit-ism was back in control. 

Taking the U.S. dollar off the gold standard completely transformed the world. Credit, yet again, had replaced capital as the engine of the world economy. 

In 1964, total credit in the United States topped $1 trillion. By 2007, U.S. credit expanded to $50 trillion. As long as credit expanded, prosperity increased. And $50 trillion in credit created unprecedented wealth, profits, jobs, and taxes. The United States credit also created globalization, and the world economy boomed. 



THE PROBLEM WITH CREDIT-ISM
The problem with credit is that, unlike capital, it is supposed to be repaid. Much of the $50 trillion that fueled the four-decade global expansion cannot be repaid. This massive debt underlies the crises we face today. 

Making matters worse, globalization caused U.S. factories to move to lower-wage countries. Today the United States is out of capital and out of production. Since, by definition, capitalism is a function of capital and production, credit-ism caused capitalism to go "bye-bye." 

AN IMPORTANT QUESTION
So I pose this question: Does it really make a difference who is elected President of the United States in the 2012 election? What difference will it make if President Obama is re-elected … or if the next resident of the White House is Mitt Romney, Newt Gingrich or Ron Paul? Republican, Democrat, or Independent … does it matter? Aren't we just voting for the next captain of the Titanic … or the Italian cruise ship, Costa Concordia? 

A more important question is, "What are you and I to do?" As passengers on the luxury liner, S.S. World Economy, do we hope and pray a new captain or the Coast Guard will save us? Millions of people are. 

Rather than hope an election can save the world, I believe it is better to think about saving ourselves. 

WHAT I AM DOING
At the risk of sounding ridiculous, I will tell you what I am doing. To some of you, it will sound logical. To others, it will sound insane. 

What I have done is embrace credit-ism. Although a capitalist at heart, I now realize that credit is better than capital. In simple terms, rather than attempt to save money (as millions of passengers on the Titanic are attempting to do) I borrow money to get rich. 

My change of heart came in 1972, when I was a Marine Corps pilot in Vietnam. In 1972, the Vietnamese realized that the war was over and that the United States was pulling out, just as we are doing today in Afghanistan and Iraq. The Vietnamese people were panicking, and getting ready to flee the country. 

One day, in a village market, my crew chief and I tried to buy some fresh fruit. To our surprise, the vendor refused our U.S. dollars. She also refused Vietnamese piaster, the local currency. All she wanted was gold. 

Although I did not know what was going on at the time, I sensed something had changed. Up to that point in time, the U.S. dollar had always been as good as gold. On this day, though, the fruit vendor was terrified that her mangos were more valuable than my dollars. 



Back on board the aircraft carrier, it took me a few more days to find out that President Nixon had closed the U.S. gold window in 1971. I was a year late in finding out my dollars were now only a piece of paper, an IOU backed by U.S. taxpayers. In other words, the Vietnamese vendor was more tuned into the world economy than I was. 

The same problem exists today. The problem is that the Vietnamese fruit vendor still knows more about the global economy than most people. This is the real financial crisis. It is a crisis of financial ignorance where the affluent — but financially naïve — are floating along on the S.S. World Economy, having placed all their trust in the officers of the ship. 

In 1973, I returned from the war to be stationed at a Marine Corps Air Station near my home in Hawaii. The war had changed me in many ways. Or, I should say, that Vietnamese fruit vendor had changed me. Rather than work hard and save money, which is the foundation of capitalism, I realized I had to learn how to work less and borrow more — borrow more money — if I wanted to become rich. 

In 1973, while most of my fellow pilots were preparing to fly for the airlines, I became a student of credit-ism. While still in the service, my credit-ism study began with a three-day weekend class on how to borrow money to finance real estate investments. It took me six months to find a condominium on the island of Maui that I could purchase for 100% debt — and still produce positive cash flow. In other words, I was using OPM (other people's money), money from savers and bondholders, people who still believed in capitalism to get rich. Once I did that, I knew I would never need money again. I became a credit-ist rather than a capitalist. Today, I own thousands of properties, financed with credit (debt) and producing positive cash flow. 

In 2007, when the subprime mortgages collapsed, my properties did well … simply because the apartment houses were not financed based on exaggerated valuations. Also, all the properties are in good repair and in safe areas where there are good jobs. The rents were fair, often below market. 

Unfortunately, the crash collapsed on the heads of the financially naïve, destroying the lives of millions of people, costing them their jobs, homes, savings, retirements, and hopes for the future. Many of these people are the same people who are hoping that a change in political leadership can save them from the financial icebergs floating in the fog ahead. 

Unfortunately, when people begin looking to the government to save them, it's a move toward socialism, not capitalism. In other words, people who were once capitalists are now becoming socialists. 



THE WAY OUT
The way out is obvious. The way out would begin with financial education in our schools, starting from the first grade. 

Financial education can be fun and simple. It can begin with the game of Monopoly, teaching one of the greatest principles of wealth creation. It's a simple formula of four green houses that are leveraged to acquire one red hotel. That is how my financial education began, and today I continue to play Monopoly in real life, using the money of savers and bondholders that's held by banks and insurance companies. 

This is the power of credit-ism and the power of financial education. And today —because of the financial education I received from my rich dad — I can afford to fly on private jets … as opposed to being a retired airline pilot and hoping my pension lives longer than I do. 

WHAT DO YOU DO WITH YOUR MONEY?
I am often asked, "If you use debt, your banker's money, to get rich, what do you do with the money generated from your properties?" 

My answer is, "I do what true capitalists do. I buy gold. In a world where government money is fool's gold, real gold is still real money." 

In other words, since the world is no longer on the gold standard … you should be. 

Best known as the author of Rich Dad Poor Dad — the No. 1 personal finance book of all time — Robert Kiyosaki has challenged and changed the way tens of millions of people around the world think about money. He is an entrepreneur, educator and investor who believes the world needs more entrepreneurs. With perspectives on money and investing that often contradict conventional wisdom, Kiyosaki has earned an international reputation for straight talk, irreverence and courage, and has become a passionate and outspoken advocate for financial education. His most recent books include Unfair Advantage: What Schools Will Never Teach You About Money and Midas Touch, the second book he has co-authored with Donald Trump. To learn more visit richdad.com. 


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