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Thursday, March 31, 2022

Financial literacy and technology are key factors, will attract young investors

 

 Building LONG TERM WEALTH with Stocks & Avoid FAKE GURUS | FIRL Podcast 36

Ng Zhu Hann of Tradeview.my shares his journey from London School of Economics, to becoming a long term stock investor and the author of Once Upon a Time Bursa. He passionately writes on his blog, Tradeview.my to educate retail investors on investing and to avoid fake gurus. He also mentions that retail investor participation is at all all time high in 2020. However, he makes the most wealth during the bear market and says dividend yields, earnings and cash flow are time tested theorem that generate wealth and not short term goals.

 

More effort needed to educate the young investing

With thousands of new and young retail investors participating in the local bourse in the last two years, more effort is needed from capital market regulators and the private sector to improve financial literacy, particularly among the youth, say market observers.
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Ng Zhu Hann, who is the CEO of Tradeview Capital and author of “Once Upon A Time In Bursa”, told StarBiz that brokerages and investment banks could not afford to neglect providing first-time retail investors with “the tools to understand the stock market”.
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“Once you lose money, or whatever savings that you have, you would never return to participate in the stock market because you may think the market is rigged against you. That is human nature,” he said.
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According to the Securities Commission’s (SC) annual report 2021 , an investor survey focused on the youth found that only 3% of youths have a high-risk appetite regarding the level of risk they were willing to take for investments.

“This may suggest that risk aversion has set in due to the pandemic,” said the SC survey.
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The Nielsen Company (M) Sdn Bhd was commissioned by the SC to conduct the survey on its behalf.
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However, on capital market products and their associated risks, the survey showed that respondents viewed investments in Amanah Saham Bumiputera (ASB) as low-risk.
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“In comparison, 70% of the respondents perceived stocks and shares to be high-risk. Overall observations suggested that respondents perceived the capital market products as high-risk and this perception was consistent across the demographic profiles,” said the SC survey.
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Ng also noted that according to Bursa Malaysia, following a similar trend in 2020, 63% or about two-thirds of the new 223,249 individual central depository system accounts opened in 2021 were by millennial investors (aged 26 to 45 years of age).
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He pointed out that many of the new millennial investors had lost money when they got caught up in the penny stock or glove stock mania in the last two years.
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“They had no prior investing experience, and lost money, and that becomes a problem. That is why more should be done in terms of investor education,” said Ng.
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Meanwhile, Rakuten Trade head of equity sales Vincent Lau noted that the regulators of the Malaysian capital markets have made many efforts to educate retail investors, in an era where investing via new and innovative digital platforms is the norm.
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“Online resources like Bursa Marketplace have been very crucial in educating new retail investors, which increased tremendously in numbers during the pandemic-related lockdowns in the last two years,” he said.
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Lau also pointed out that with the younger generation pivoting towards buying, selling and storing crypto currencies, Malaysian regulators have been staying in tune with the demands of the digital era with the approval of crypto currency platforms like MX Global, Tokenize and Luno.
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“Digital banks are also coming, and new fintech will enable and attract the younger generation to explore various investment options,” he said.
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Lau pointed out that Rakuten Trade, as an online stock trading platform, has been actively holding corporate and investment webinars.
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Ng said it was not surprising that the youth would view investments in ASB and fixed deposits as low-risk, compared with equities. 

 “If you invest in equities by yourself, without the proper understanding and knowledge, it is just like gambling, right? But I think that equities in fact, is not the most high risk asset class. 

I am seeing a very unhealthy trend of youngsters, who have never even invested in equities in their life, actually jumping into crypto currencies,” he said.
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The SC’s annual report also said RM21bil in investment in digital assets are across all registered digital asset exchanges (DAX) in 2021.
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Digital asset accounts jumped 300% to 760,000 in 2021 (from 190,000 in 2020).
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About 62% of investors in crypto currencies on the DAXs are below the age of 35, according to the SC as at end-2021.
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The regulator also observed that last year, non-fungible tokens (NFTs) became a hot trend among artists and collectors.
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Ng pointed out that unlike crypto currencies which are not regulated, there is a lot of regulation, oversight and transparency when it comes to investing in equities.
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“Compared with less developed markets, I believe Bursa ranked among the best, along with Singapore Exchange and the Hong Kong Stock Exchange, in terms of the regulators,” said Ng.
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In the SC’s annual report, the survey also showed that investment decisions of the youth were not based on fundamentals, but mainly driven by socio-economic status, family, friends, influencers as well their perceptions of the products and brands.
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It also revealed that there was also familiarity bias among the respondents, choosing to invest in products that they were already familiar with.
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Ng said while there was plenty of information available on company websites and annual reports, first-time investors may not know how to decipher or dissect the data.
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“They would go for financial investment talks and hope that the guru would teach them, which is very dangerous. The problem is there are many fake gurus today in the market, who just want to make money, and they are not even licenced,” he said.
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Ng suggested regulators could allocate more resources in disseminating financial information via social media, and also working with professional or non-profit organisations to improve financial literacy among the youth.
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“Under the Continuing Professional Development (CPD) framework, perhaps a revision can be done where CPD points can be earned by contributing pro bono, or helping society in terms of improving financial literacy,” he said.

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Wednesday, March 30, 2022

Securities Commission’s (SC) annual report 2021: SCAMMERS ON THE LOOSE

 

 

Opening Keynote Address by Datuk Syed Zaid Albar, Chairman SC Malaysia at ESG Corporate Summit.

Scams have been increasing in the Malaysian capital market over the past few years, amid the Securities Commission’s (SC) efforts to clamp down on unscrupulous activities.
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Chairman Datuk Syed Zaid Albar said that complaints on unlicensed schemes in 2021 had increased to 52% of total complaints received by the SC, up from 37% in 2020.
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“In line with this, we have also stepped up our anti-scam efforts using a multi-pronged approach,” he said.
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Syed Zaid was speaking during a virtual media briefing yesterday, following the launch of the SC’s annual report for 2021.
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Actions taken by the SC in 2021 against unlicensed activities and unauthorised operators included issuing 24 cease and desist orders to persons carrying on unlicensed investment advice, 13 administrative sanctions via reprimands and directives, and blocking access to 143 websites via the Malaysian Communications and Multimedia Commission (MCMC).
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To date, the SC has undertaken five enforcement actions, 473 regulatory interventions and put up 275 unlicensed companies and individuals on the SC’s Investor Alert List.
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An internal taskforce was also established to investigate investment scams and clone firms which reviewed 159 bank accounts that identified 32 persons of interest.
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In 2021, the SC concluded 22 investigations, and more than 55% of completed investigations last year relate to unlicensed activity and securities fraud.
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Corporate misconduct, which constituted 14% of the total completed investigations, included disclosure breaches relating to securities laws.
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As of Dec 31, 2021, the total number of active investigations were 46.
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“While the SC continued to dedicate substantial resources to conduct investigations relating to securities fraud and market manipulation offences, investigations on corporate misconduct has emerged as the second highest percentage of active investigations carried out in 2021,” the commission said in the annual report.
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Through its civil enforcement actions, the SC had in 2021 restituted RM2.7mil to a total of 721 investors who had suffered losses as a result of such breaches.
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On a separate matter, Syed Zaid said that the SC was monitoring the issuance of non-fungible tokens (NFTs) on a case-by-case basis, amid the global craze to convert real-world items into digital assets.
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This was, however, subject to the nature of the NFTs, the NFT projects as well as the activities carried out at the NFT marketplace, he added.
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An NFT is a unique digital asset that represents ownership of real-world items like photos, videos and audios. It is a non-interchangeable unit of data stored on a blockchain, a form of digital ledger, that can be sold and traded.
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Syed Zaid pointed out that the underlying assets of most NFTs in Malaysia were non-securities products, hence such NFTs did not fall under the SC’s regulations.
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However, SC managing director Foo Lee Mei said that some NFTs may come under the SC’s purview, if the NFTs met the SC’s digital asset prescription order.
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In addition, in the event any of the NFT players engaged in capital market-regulated activities, the issued NFTs would have to adhere to the SC’s rules.

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Based on the SC’s latest annual report, Malaysia’s digital asset market continued to expand in 2021 despite the market uncertainties, with approximately RM21bil in digital assets traded across all registered digital asset exchanges (DAXs).
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The total number of investment accounts surged by nearly 300% to about 760,000 from more than 190,000 in 2020. Since introducing the DAX framework in 2019, the SC had registered four DAXs, namely Luno Malaysia Sdn Bhd, SINEGY Technologies (M) Sdn Bhd, Tokenize Technology (M) Sdn Bhd and MX Global Sdn Bhd.
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Commenting on the Malaysian capital market outlook for 2022, Syed Zaid said volatility will remain, especially in the near term.
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The outlook, he added, will be premised on the baseline expectation of a sustained economic recovery this year.
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However, he warned that further escalation of the Russia-Ukraine conflict could disrupt the much-need economic recovery.
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“As we have witnessed, the impacts are already felt in various market segments worldwide, especially in commodities. “The possibility of a more severe impact still remains, given the potential for further escalation and the lack of a clear resolution.
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“For the moment, the direct impact to Malaysia is still manageable, given our minimal exposure to Ukraine and Russia,” he said.
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Challenges aside, Syed Zaid said the SC’s priorities in 2022 aim to shift the capital market to a relevant, efficient, diversified and inclusive ecosystem.
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This would allow Malaysia’s national growth pillars to achieve its ambitions in areas such as digital, carbon-neutrality and managing the transition of the country into an aged nation.
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“From an organisation perspective, the SC will strengthen its internal digital capabilities and skills set to enable the SC’s workforce to harness state-of-the art digital technology for deeper insights and engender efficiency in our risk management, surveillance and supervision functions.
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“The SC has also embarked on its own journey towards reducing its carbon and environmental footprint, in line with Malaysia’s goal of becoming a carbon-neutral country by 2050,” he said.
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On expected fundraising activities, Syed Zaid painted a positive outlook, underpinned by normalising economic conditions.
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For 2022, he expects about 35 initial public offerings (IPOs) to take place.
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In comparison, there were 29 new listings in 2021, of which six were on the Main Market, 11 were the ACE Market, and the remaining 12 were the LEAP Market. The total amount of funds raised from these new listings was approximately RM2.3bil.
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The SC noted in its annual report that it had also considered an IPO application on the Main Market last year, which would have raised about RM4.7bil. However, the application was subsequently withdrawn.
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“We have also received enquiries and statements of interest in SPACs (special purpose acquisition companies), but it is still too early to tell whether any SPACs will be listed in 2022,” he added.


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Financial literacy and technology are key factors, will attract young investors

 

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Sunday, March 27, 2022

Talent, wage growth and Koi’s law

Scholarship Programme – Great Eastern Life

http://my.gelife.co/scholarship
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SOCIAL media has been abuzz on the new minimum wage policy of RM1,500 announced by the government, which is slated to come into effect on May 1.
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For politicians, regardless of which camp one belongs to, there appears to be a consensus towards this policy’s implementation. It is after all a populist policy, hence to voice out vocally against it would be a public relations nightmare.
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Supporters for higher minimum wages can be seen to be largely employees and advocates of labour welfare.
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The key proponents against the new minimum wage policy was on the other hand largely from the business associations, manufacturers and small medium enterprise owners. In short, the employers.
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What is rather interesting from my observation is the high octane emotions expressed on social media, be it those for or against. Supporters of the new wage policy were completely aghast when proponents against it provided justifications to delay the implementation. Many resorted to name calling, where some were branded as capitalists, profiteers or bourgeoisie.
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There was even a viral social media posting on twitter with Tan Sri Soh Thian Lai’s remuneration as chairman of YKGI Holdings Bhd shared to depict the wealth disparity. He was in my view, unfairly targeted simply because he voiced out the views of the members within The Federation of Malaysian Manufacturers (FMM) in his capacity as the president of the association. Somehow, no reasons given were deemed acceptable by advocates of higher minimum wage.
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Low wage growth in Malaysia
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It is important to note that Malaysia has been caught in the middle income trap for the longest time. When former Prime Minister Tun Dr Mahathir conceptualised “Vision 2020”, it was our countries’ aspiration to achieve a high income nation status.
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Of course, the year 2020 came and left with my memory of it largely being watershed, much less anything remotely related to high income. So, the crux of our economy indeed has always been low wage and especially painful wage growth in the last decade.
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We need not look far, the past five years' statistics of our country’s mean and median monthly wages is sufficient to show a rather demoralising trend as per the attached chart. World Bank’s definition of a high-income nation for 2020 was a gross national income (GNI) per capita of US$12,696 (RM 53,532). Our country’s GNI last year stood at US$10,111 (RM42,503), which was an estimated 20% below the minimum threshold of the World Bank. While 20% apart may not seem like the Grand Canyon, however, we must understand there is a disparity of wealth gap between the high T20 and the B40. This is further exacerbated by the pandemic and slump in the economy for the past two years.
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As a former employee who worked for various corporate organisations, I can deeply sympathise with the predicament of entry-level and low-income employees.
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With access to remuneration information of the company, I notice the large income and employee benefits disparity between the senior management and the junior workers.
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There was once during a town hall meeting with senior leaders of the management, I raised a question anonymously, “How is it equitable that the more senior one is along the corporate hierarchy, apart from higher salary, one still gets much better employee benefits such as mobile, healthcare, petrol and others allowances, when in fact, it is the more junior employees with low income that are desperately in need of better benefits to supplement the income gap?” The human resource head of the company skipped my question.
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Is minimum wage the solution?
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On Jan 1, 2020, the minimum wage of RM1,200 came into force. This was right before the country was hit by the pandemic. Two and a half years later, in spite of the pandemic and series of lockdowns decimating many small-medium enterprises and businesses, the minimum wage would soon be raised to RM1,500. With a history of being vocal about employees’ welfare throughout my corporate tenure, I cannot help but feel that the situation at this point in time is not conducive for such a drastic jump.
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Although we did see a recovery of Malaysia’s gross domestic product performance in 2021 with a 3.1% increase compared to a contraction of 5.6% in 2020, it is necessary to understand that many businesses went out of business and the unemployment rate has increased significantly.
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In addition, the country’s borders, which is allowed to open on April 1 may provide a fresh catalyst for the economy recovery, the impact has yet to be felt by businesses as a whole. If 2022 is to be a recovery year, then business friendly policies need to supersede populist policies in the near term in order to provide some breathing room to recoup past losses.
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Furthermore, increasing business costs will add to the worsening domestic inflationary pressure resulting from global factors such as geopolitical tensions, supply chain disruption and loose monetary policies. Increasing cost without expanding the economy pool is simply discouraging reinvestment by the business enterprise, which is crucial towards growing the country’s economy. The multiplier effect of investment activity outweighs the effects of consumer spending. This is economy 101.
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Koi’s Law
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In season two of Dr Romantic, a popular Korean drama, a scene specifically mentioned an interesting theory known as ’Koi’s Law’.
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This theory provides that a Koi fish (which is a type of carp), grows in size subject to its environment. If you put it in a fish bowl, the Koi would be small fitting to the size of the fish bowl. If you put it in the pond, the Koi would grow much larger. This relates to people’s ability to change proportionally to the environment. If we give people the opportunity to grow, they will be able to expand on their respective ability. Wage is an important factor in determining such an outcome.
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Therefore, I do agree that wage growth should be commensurate with talent in order to retain the best minds which are crucial towards nation building. By having the best talent in the respective fields, our country would advance and naturally, this would help to further improve the quality of lives of the people.
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It is a cycle. I definitely do not disagree with reviewing and raising the minimum wage but it ought to be gradual and at a pace where the business owners and employers are given the equal opportunity to recover from damages suffered. Populist agendas should never have a place in formulating economic policies otherwise long term advantages will always take a backseat to short term gains.
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NG ZHU HANN By Ng Zhu Hann, the CEO of Tradeview Capital. He is also a lawyer and the author of “Once Upon A Time In Bursa”.The views expressed here are the writer’s own. 

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Thursday, March 24, 2022

US hegemony: the culprit of Ukraine crisis, benefiting from Ukraine’s misfortune

 

The Ukrainian side has seen China’s neutral position on the conflict between Russia and Ukraine

 


US hegemony: the culprit of Ukraine crisis

 "Let the gull'd fool the toils of war pursue, where bleed the many to enrich the few," wrote the 18th-century English poet William Shenstone.
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That is what is exactly happening during the Russia-Ukraine conflict. Whether it's the people of war-torn Ukraine, sanction-ridden Russia, or insecurity-ingrained Europe, all have suffered greatly. The US, the culprit of the Ukraine crisis, has been constantly taking advantage of others' misfortune to maintain its hegemony.
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Every why has a wherefore. Edward Carr, a leading British scholar of international relations, reminded people more than 80 years ago that the US was a master in using kindness to disguise selfishness. Boasting abundant resources, strong industry and geographical advantage, Ukraine could have achieved development. While the country pursued a relatively balanced policy in the early years of its independence, the US supported and incited the Orange Revolution in 2004 and the Square Revolution in 2014 to push for a pro-Western agenda, splitting Ukraine politically from within and geopolitically between Russia and Europe. It is really thought-provoking that the "Gateway to Europe" has become one of the poorest countries in Europe, the frontline of NATO's eastward expansion, and the fault line of "color revolutions" and conflicts.
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In 2014 when the crisis broke out in eastern Ukraine, while Germany, France, Russia and Ukraine held several rounds of consultations and signed two Minsk Agreements to cool down the situation, the US took an opposite direction to fan the flame by inciting the anti-Russian and pro-Western forces in Ukraine to escalate the conflicts on the ground. In the current Russia-Ukraine conflict, the US is reaping the benefits without getting itself involved militarily. It never intended to come to Ukraine's rescue, the idea used as a political tool by the US to trap Russia in a seemingly endless conflict.
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We might need to go a bit further back into history to conclude how the US hegemony had created all the security trouble for Europe, Russia and Ukraine. It is well known that the US became a global superpower after the two world wars which plunged Europe into chaos and destruction and led to its dependence on the US military hegemony and NATO. Looking for a pathway to common security, Europe and the US signed the Helsinki Accords with the Soviet Union in 1975, which saw the establishment of the Organization for Security and Cooperation as well as the indivisible, cooperative and comprehensive approach to security.
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However, after the Cold War, the US overturned the European security agenda and rejected Russia's bid to join NATO four times. The aim was to make Russia the imaginary foe to justify US hegemony. Since 1999, the US launched five major NATO expansions, pushing its borders eastward by more than 1,000 kilometers to include a large number of Eastern European countries, splitting Europe further. It also promised Ukraine, Georgia and other members of the Commonwealth of Independent States (CIS) NATO membership, posing a realistic threat at the doorstep of Russia.
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Due to the hegemonic mentality and actions by the US, the vision of indivisible common security broke into pieces, and Russia, Ukraine and Europe were left in a security dilemma and constant conflicts. Former US congressman Tulsi Gabbard stated in a recent interview that President Joe Biden could have ended the crisis by promising not to admit Ukraine to NATO. But he didn't, because the US is seeking an excuse to impose sanctions on Russia, and it could profit from war for the American military-industrial complex.
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Ukraine has become another victim in a series of global security crises instigated by the US, just like Iraq, Afghanistan, and Syria. Now the hegemonic power is pushing for an Asian version of NATO expansion via its Indo-Pacific Strategy, aiming to contain China.
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Hegemony is the source of evil and chaos, while the common security is the only correct option to avoid and end crises. Whether it is Europe or Asia, the rationales of security are the same: Security cannot be enjoyed exclusively, but only shared; It is not a zero-sum game, but win-win cooperation. History may prove again that, the one who makes a fool of others will eventually make a fool of himself. 

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 Washington benefits from Ukraine’s misfortune

 By March 24, the Russia-Ukraine conflict has lasted one month. All peace-loving people in the world hope that this bloody conflict, which could have been avoided, could end soon. However, the US and NATO, which hold the key to resolving the conflict between Russia and Ukraine, have made no practical moves to end the war. Instead, they are still intensifying contradictions and escalating confrontation, creating obstacles for negotiations between Russia and Ukraine.
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US President Joe Biden left for Europe on Wednesday, where he will attend the NATO summit, the G7 summit and the European Council meeting. According to media reports, Biden will work with European allies to coordinate next-stage military assistance to Ukraine and will announce a new round of sanctions against Russia. On the one-month mark of the conflict, Biden carried out his intensive diplomatic offensive in Europe, yet nothing on his agenda is not about adding fuel to the fire.
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When touching upon Biden's European trip, US National Security Advisor Jake Sullivan said that there will be hard days ahead in Ukraine as "this war will not end easily or rapidly." This is not so much a "judgment" by the US, but a carefully guided direction by Washington. Washington wishes the war will not end, so it can maximize the use of the conflict to gain geopolitical value from it. In other words, it is seeking to benefit from Ukraine's misfortune.
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Because of this, the US and Europe may seem to appear close, but their substantive differences are deepening. While Washington is obsessed with delaying Russia-Ukraine negotiations, Europe wants security and stability. There are emerging anti-war voices in Europe, and these voices include disapproval toward Washington's arms delivery to Ukraine. More and more Europeans realize that blindly sending arms to Ukraine is heading toward the opposite direction of the security goals they pursue. In addition, the result of long-term extreme sanctions must be that the US gets rich, Europe pays the bill and Ukraine bleeds. Washington can't hide these petty ideas.
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Also because of this, Biden has to "stabilize" Europe when it has wavering intentions. It is not difficult to imagine that Washington will pull out the "transatlantic friendship," "democratic alliance," and other small cards from its pockets and distribute them to friends as passes to the world VIP club, using the illusory "honor" to extract high "dues." Washington also exerts strong pressure on neutral countries that "don't join the club," criticizing India for being "shaky" on one hand and sensationalizing China's "threat" to peace on the other. Isn't this a typical mafia approach?
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As the saying goes, "It is up to the doer to undo the knot." The Russia-Ukraine conflict is the result of the intensification of the conflict between the US and Russia, and the key to the problem lies in the hands of the US. If Washington really wants the "hard days" of the Ukrainian people not to continue, then why did it choose to "coordinate" with Europe to send weapons to Ukraine and sanction Russia, and refused to talk directly with Russia? The answer is clear: the US does not want real peace talks. That's why one can see such an absurd scenario: despite knowing where the way out is for the Russia-Ukraine conflict, Washington is still desperately wiping the sign which says "No Thoroughfare" at the end of a blind alley.
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Washington has been good at putting on the show - promoting hegemony under the guise of "democracy," and making a fortune from war in the name of "peace." Yet it does not mean such an approach will never be outdated. Over time, people will eventually see through it. The evolution of the Russia-Ukraine conflict will prove Washington's nature as a warmonger. 

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Global hypocrisies exposed | The Star

Tuesday, March 22, 2022

China Eastern Airlines: Boeing 737-800 Plane Crashed And Killed 132



Sunday, March 20, 2022

When men eat wrong

Hornby is among the young men trying to normalise seeking treatment for eating disorders by speaking out about his experience on social media. — TNS

Discover william hornby 's popular videos | TikTok

 Men can have eating disorders too

William Hornby looks straight into the camera, smiles and says: “Hi, I’m William and I am a man who is proudly in eating disorder recovery.”

It’s the kind of public and unashamed acknowledgement the now 22-year-old Temple University student in the United States wished he could have leaned on when he began his recovery in early 2020.

The video has been watched more than 21,000 times since Hornby posted it on TikTok in December 2020.
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An estimated 10 million men and boys have a diagnosed eating disorder – about a third of all reported cases, according to the US National Eating Disorder Association.
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Yet, because the condition is largely seen as a women’s health problem, men often struggle to find help.
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Treatment centres primarily cater to women.
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Clinicians are trained to recognise eating disorders among women, but often don’t pick up on the different warning signs among men.
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Even self-help is hard to come by, with far fewer men than women speaking out publicly about their experience.
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As a result, men are, on average, sicker when they’re finally diagnosed and more likely to require hospitalisation, which makes their path to recovery that much harder.

“Often, we don’t recognise they’re struggling until it’s too late,” said Brian Pollack, the founder and clinical director of Hilltop Behavioral Health in Summit, New Jersey.
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“They fall harder and quicker – or at least it’s perceived that way – because no one knows the signs and symptoms.”
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Unrealistic body images
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There are good reasons resources are dedicated to treating eating disorders among women.
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Just like women, men too feel the pressure to have a certain ideal physique due to the images portrayed in media. — Filepic Just like women, men too feel the pressure to have a certain ideal physique due to the images portrayed in media. — Filepic
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The cultural ideals for many American women – tall, thin, beautiful – have contributed to generations of eating disorders, especially anorexia, among women and girls who felt immense pressure to resemble the Barbie dolls they played with and the models they saw in magazines.
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Clothing designers are increasingly including models of all sizes in their advertisements; children’s movies feature heroines who don’t wear crowns and corsets; and dolls with realistic body proportions line toy store shelves.
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But there’s still a long way to go to undo such ingrained ideas about body image.
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At the same time, clinicians are grappling with how to better support men and boys experiencing body-image problems.
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For men, movies and music that conflate masculinity with ripped physiques or lean, toned bodies can contribute to eating disorders.
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Gym culture – working out hard and eating nothing but lean protein, then celebrating with indulgent “cheat day” meals – encourages a pattern of food restriction and binge-eating.
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“Behaviours might look the same (in men and women), but cognitive drivers are different and that’s linked to different body ideals,” said Stuart Murray, the director of the University of Southern California’s eating disorders programme and a founder of the US National Eating Disorders Association.
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Men also perceive their eating behaviour differently, which requires medical professionals to take a different approach to talking to men about these issues.
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For instance, binge-eating is considered a loss of control, however, men who are taught to always be in control may not view their binge-restrict eating patterns that way, Murray said.
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Where to turn to?
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Growing up outside Baltimore, Hornby said being around family members who dieted routinely, thumbing through health magazines, and having to change for gym class in a locker room full of his peers, made him question how he looked.
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He started to restrict what and how much he ate.
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“I would look at men’s health magazines and resent that I didn’t look like that, and be scared that I never would,” Hornby recalled of his 11-year-old self.
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Once on his own, in college, Hornby started to eat more, but would immediately feel guilty and force himself to limit his intake.
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At a particularly low point, he reached out to a Temple dietitian, who connected him to a therapist.
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With help from both of them, Hornby began to make progress in breaking his cycle in 2020.
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But figuring out how to move forward from his pattern of restrictive eating and bingeing was hard because he felt alone.
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“One of the most isolating and challenging things for me was I couldn’t find representation for men with eating disorders,” he said.
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“Even though I knew it was happening, I couldn’t find them.”
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Because eating disorders have been cast as a female problem, men may not recognise that their relationship with food is also troubled.
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Those who do realise they have a problem may not know where to turn for help.
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With an overwhelmingly female clientele, treatment centres often have a feminine aesthetic and programmatic approach to discussing eating disorders that doesn’t resonate with men, Pollack said.
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“Whether it’s an all-female organisation or the standards of care and the language around care is female-focused, men don’t feel comfortable,” he said.
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Data needed
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Improving eating disorder treatment for men must be about more than making them feel comfortable speaking out.Gym culture, which involves working out hard and eating lean meat with the occasional ‘cheat day’, encourages an unhealthy pattern of food restriction and binge-eating. — The Washington Post
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Gym culture, which involves working out hard and eating lean meat with the occasional ‘cheat day’, encourages an unhealthy pattern of food restriction and binge-eating. — The Washington Post >>
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The medical field must evolve to include men in clinical trials to understand the effectiveness of existing and future medications and therapies among men.
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“The provider has to rely on data drawn from predominantly female samples.
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“You have to kind of wing it and assume that the treatment that’s worked for females will work for males,” Murray said.
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Until about 10 years ago, the criteria a person needed to meet in order to be formally diagnosed with an eating disorder included loss of menstrual cycle – a physiological impossibility for men.
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Changing that criteria opened up new funding opportunities for studying and tracking eating disorders among men, but the field is still catching up.
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Less than 1% of studies about eating disorders have involved men, said Murray, who has extensively studied the dearth of re- sources for men.
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Researchers are learning that while influenced by personal circumstance, social media and popular culture, some people may be genetically predisposed to be vulnerable to eating disorders.
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Future treatments could involve therapies that retrain neural pathways in the brain, essentially reteaching the brain how to think about food and body image.
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Clinical studies for these treatments especially, must include men, whose brains work differently than women’s, Murray said.
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“We’re standing at the precipice of repeating history,” he said.
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Helping others
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With help from his therapist and dietician, Hornby has established nutritious eating habits and healthier expectations of his body.
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In late 2020, he decided to start posting videos and messages on TikTok and Instagram, offering encouragement to people who may not even realise they need it.
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He has posted hundreds of short videos with messages like “coffee is not a meal and neither is the milk in your coffee”, “your body isn’t addicted to carbohydrates, it just needs them” and “you aren’t faking your eating disorder if it’s happening when no one’s around” that have earned him hundreds of thousands of social media followers.
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He also recorded a song about body dysmorphia – a mental health disorder in which people obsess over perceived flaws with their appearance.
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It’s titled Clay, he said, “because when you have (body dysmorphia), your mind treats your body like clay” that can be pinched and moulded to a preferred shape.
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Sharing such a personal experience is scary, and at first, he feared people would think he was making it up for attention, he said.
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But the messages he receives from others who have found comfort in his posts are encouraging and have helped him maintain his progress.
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“Every single day I get messages from people telling me my content is what gave them the push to ask for help... it’s incredibly meaningful,” he said.
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“It can serve as a reminder that these are not rational thoughts people are having.
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“Then when I have those same thoughts later in the day, it holds me accountable.” – By Sarah Gantz/The Philadelphia Inquirer/Tribune News Service

Saturday, March 19, 2022

Check electrical devices, and avert a tragedy

 Carry out regular maintenance on electrical devices


Safety checks on electrical devices should be conducted frequently and faulty devices replaced promptly to avoid electrocution, say electrical experts.
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This following a recent tragedy on March 10, where a couple were found electrocuted upon using an instant water heater in the bathroom of their flat at Taman Puncak Tringkap, Brinchang, Pahang.
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The Electrical and Electronics Association of Malaysia (TEEAM) advised people at home to use safety-certified electrical equipment and conduct frequent testing of the unit’s residual current circuit breaker (RCCB) or Earth Leakage Circuit Breaker (ELCB) to avoid such incidents.
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“RCCB is a device that senses electricity and disconnects any high voltage or unbalanced current circuit whenever a fault occurs. “This protects humans from shocks and prevents death caused by shocks,” said TEEAM’s president Siew Choon Thye.
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He said it is best for people to conduct these safety checks using rubber slippers or boots for safety.
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Siew said that faulty or defective RCCBs in the distribution board have been identified as among the causes of electrocution involving water heaters in homes in Malaysia.
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“The sensitivity of the RCCB used for electric water heaters should be rated 10mA to prevent electrocution,” he said, adding that electrical products should be certified by SIRIM and approved by the Energy Commission for safety and household use.
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He said electrical works and replacements of RCCBs must only be carried out by competent electricians, wiremen, and chargemen who are registered with the Energy Commission of Malaysia.
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“Should a person face an incident where a family member is electrocuted, the safest way is to immediately switch off the main power supply at their home and call the emergency number 999,” he said.
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Siew added that people purchasing electrical products online should also be cautious as there are a number of fake products sold, as well as those without SIRIM certification.
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“Verification of certified products and competent electricians can be done via our website www.teeam.org.my or through the Energy Commission’s portal at www.st.gov.my,” he said.
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Following repeated cases of water heater electrocutions in the country, Siew said TEEAM planned to restart its RCCB self-test campaign in the near future to give people more awareness on the issue.
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Electrician Mohamad Arif Mohamed Kasim, 28, recently noted on his Twitter account (@arepkasim) that people should check their water heaters by pressing the Earth Leakage Circuit Breaker (ELCB) test button.
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“Electrocution happens when the ELCB has malfunctioned and does not cut the electricity when there is a leak,” he said.
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The PW4 Wireman noted the warm water which comes out directly from the shower is heated in a copper tube within the water heater.“Water and copper are both electrical conductors so when a current leakage occurs, electrocution can happen,” he said.
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He said people should check the ELCB on the main fuse of their home every month or fortnightly to ensure the safety device is working.
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He added such checks can identify any malfunction. Faulty devices, too, should be immediately replaced to avoid electrical cables from overheating or catching fire.
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Twitter user Bovver (@bluehippo__), advised people against using water outlets or external connections on water heaters that are made of metal as there is a risk of electrocution or death when a current leak occurs.
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Others like @KaffeeUndMilch_ warned that people should also be cautious of electrical current from home aquariums as it can also be a cause of electrocution with faulty electrical devices. 

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Friday, March 18, 2022

Teco frauds discovered, a million telco lines terminated

 

Fines worth over RM20mil to telecommunication service providers (telcos) for not verifying the identity of new prepaid card new subscribers

 

Those who registered more than the limit given may be using the numbers for activities -Zulkarnain Mohd Yasin

PETALING JAYA: The Malaysian Communications and Multimedia Commission (MCMC) has issued compounds worth over RM20mil to telecommunication service providers (telcos) for not verifying the identity of new prepaid card subscribers. The failure also saw over one million lines terminated by the telcos.
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MCMC chief regulatory officer Zulkarnain Mohd Yasin told The Star that the commission discovered cases of telco agents or dealers who misused consumers’ personal information to register fake prepaid accounts for sale to other customers.
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Victims, he said, would only realise the abuse via notification from telcos or law enforcement agencies who notified them of their “wrongdoings”.
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“The issue is worsened by the fact that we have foreigners whose identifications were also being used for bogus registrations.
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“It is easier for us to verify Malaysians because we can call and check with them if they have registered the numbers but with foreigners, it is very challenging.
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“As of last year, 430 compounds were issued by MCMC amounting to RM20.53mil for non-compliance with the guidelines based on the monitoring and audit conducts by MCMC through mystery shopper activities as well as public reports,” he said, adding that action was taken under Section 242 of the Communications and Multimedia Act 1998.
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Zulkarnain said the commission had also reduced the limit on the number of prepaid cards a user could register under their names – previously from 10 numbers to only five.
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“We have not ruled out the possibility that those who registered more than the limit given may be using the numbers for activities that are against the law,” he added.
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The commission, Zulkarnain said, was currently working hand in hand with the National Registration Department (NRD) to step up efforts to curb false prepaid registration that could lead to unlawful activities such as scams.
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A data verification exercise will be conducted twice a year to allow the commission to verify the validity of prepaid subscribers’ database and rectify unmatched data from the service providers.
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“Information received from service providers on its active prepaid cellular subscribers registered using MyKad will be shared with NRD for further verification.
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“This exercise is part of the commission’s efforts in ensuring compliance with the Guidelines on Registration of End-Users of Prepaid Public Cellular Service to strengthen the registration process to address false registration issues, security and data integrity issues, thus ensuring that the interest and rights of consumers are being protected,” he said.” he said.
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Zulkarnain said to date, the verification exercise, which began in 2017, had identified over 1.5 million numbers that had been registered with inaccurate information as per MyKad details.
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A total of 1,008,765 or 66% of the lines were terminated, 496,212 were updated with valid information and 12,058 are in the midst of being updating.
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“MCMC will share the verification results with the respective service providers and they will be given three months to take the necessary action to notify the users.
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“Service providers will issue a notice of three working days to the user to re-register their details, failing which, the number will be suspended.
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“Suspension shall be in effect for a period of 14 working days and if the user fails to co-operate, the service will be terminated,” he said.
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He said that upon termination, the remaining balance for the prepaid services would be forfeited and the service providers were not required to reissue the same numbers to the users for any new registrations in the future.
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He advised users who were involved in such activities to lodge a report at the telecommunication company, police and the Personal Data Protection Department (JPDP).
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This included postpaid users, Zulkarnain added.
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“So far, the guideline is for prepaid users. Normally for postpaid users, we will act and check based on complaints we receive.”
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The Malaysian government has made it mandatory for service providers to register prepaid mobile service users since 2006.
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The directive then was to curb the misuse of prepaid public cellular services and to address national security concerns related to terrorism and criminal behaviours.
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During the registration process, a user has to provide personal information such as his full name, permanent address and IC number.
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A foreigner, on the other hand, was required to submit details such as his full name, passport number, passport issuing country, as well as any other information deemed necessary by the commission.
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Separately, a telco executive said: “Prepaid registration is mandated. Dealers can have lapses and some occurrences can happen as there are millions of customers.”
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He said even though dealers might be registering the prepaid numbers, the telcos were held liable as dealers were not licensed.
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He added that lapses in registration could happen due to dealers who had high staff turnovers.

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