Tuesday, March 26, 2019

Bytedance, World's Most Valuable Startup Is Home to a Complex Fortune

US$13bil man: Zhang is the youngest self-made billionaire in Asia on the Bloomberg index, which tracks the world’s 500 richest people. He is worth US$13bil. — Bloomberg

https://youtu.be/VKD3jt0KvhQ

Ownership structure used by Zhang Yiming is popular in tech
Chinese authorities will soon allow so-called VIEs to list

The 35-year-old founder of Bytedance Ltd. is worth about $13 billion, according to the Bloomberg Billionaires Index, making him China’s 9th-richest person and one of the fastest in modern times to amass a mega-fortune.

The business, founded in 2012, has more than 1 billion active monthly users across eight mobile apps, including a news aggregator powered by artificial intelligence and a video-sharing platform.

Zhang is the youngest self-made billionaire in Asia on the Bloomberg index, which tracks the world’s 500 richest people. His rapid wealth accumulation is a sign that China hasn’t lost its knack for creating mega-rich company founders despite a slowing economy.

His rapid wealth accumulation -- he’s now the world’s 98th-richest person -- is a sign that China hasn’t lost its knack for creating mega-rich company founders despite a slowing economy. It also helps explain why authorities seem to be taking a more tolerant stance toward a corporate structure favored by the country’s technology tycoons, most of whom have chosen to list their businesses overseas.

Zhang’s fortune is harder to calculate than the founders of Baidu Inc. and Tencent Holdings Ltd. in part because his company isn’t yet public. It’s also difficult because Bytedance is structured in the same way as the two tech behemoths -- a complicated ownership system known as a variable interest entity (VIE).

Of the 44 Chinese tycoons on Bloomberg’s wealth index, eight are tech moguls with VIEs listed outside China. The billionaires’ combined net worth exceeded $150 billion as of March 21, and their stakes weren’t publicly known until the companies filed with regulators ahead of going public in New York or Hong Kong.

VIEs have never been formally endorsed by the Chinese government. But in an acknowledgment of their importance, officials will soon permit VIEs to go public in the country, allowing them to list on a new technology-focused exchange set to launch in coming months.

Complex Structure

Bytedance is, for now, a closely held VIE with a complex structure that involves layers of holding companies.

Its main business, Jinri Toutiao, is ultimately owned by Zhang and Bytedance Senior Vice President Zhang Lidong through a Beijing-registered holding firm, according to China’s National Enterprise Credit Information Publicity System.

Zhang pledged his 98.8 percent stake to another Beijing company, which in turn is owned by a Hong Kong-registered firm. That entity, where Zhang is a director, is owned by a company registered in the Cayman Islands. The principals won’t be disclosed unless there’s an IPO prospectus.

The Bloomberg Billionaires Index calculated Zhang’s net worth by pegging his stake at 65 percent and using the company’s valuation of $20 billion, a figure provided in 2017 by people with knowledge of the matter. The analysis assumes his stake has been diluted through funding rounds.

Bytedance is said to have secured a $75 billion valuation in late 2018, making it the world’s most valuable startup -- though the figure isn’t used in the net worth calculation because the details haven’t been confirmed.

Yin Ai, a Bytedance spokeswoman, declined to comment on Zhang’s wealth or the ownership structure.

Zhang uses a VIE because Chinese regulations limit foreign investment across more than 30 sectors including the internet, telecommunications and education. The VIE structure -- which allows offshore companies to control domestic Chinese businesses through contractual agreements -- circumvents the rules and allows, for example, Baidu’s holding company to be based offshore (and list in the U.S.) while still being a dominant force in China.

Internet giant Sina Corp. pioneered the VIE model so that it could transfer income from onshore operating businesses to an offshore holding company, an arrangement that meant the Cayman Islands entity could list on the Nasdaq Stock Market in 2000.

There are risks to the structure for foreign investors, said Donald Clarke, a specialist in Chinese law at George Washington University.

“A contract entered into for an unlawful purpose is invalid under Chinese law,” he said. “Any time the government wants to pull the plug, it can.”

Still, that hasn’t stopped more than 100 companies using VIEs in offshore IPOs, according to research by Zhou Fang, a Beijing-based partner at law firm JunHe LLP, who predicts that more companies will follow.

That growth helps explain why authorities are slowly embracing VIEs. Earlier this month, China enacted a foreign-investment law that allayed investor concerns about the future of such companies, while unicorn VIEs will be able to list on the new exchange in Shanghai, known as the Tech Board.

“To some extent, it shows the government easing concerns over VIEs -- but they still care about who’s the ultimate controller of the company,” said Zhang Biwang, a partner at Allbright Law Offices. As long as the controller of the company remains a Chinese citizen, “the government won’t shut their eyes and ignore reality to make the companies give up VIEs.”

By Venus Feng Bloomberg

Read more:

China tech firms, seeking passion and energy,
promote younger staff

https://www.reuters.com/article/us-china-tech-ageism/china-tech-firms-seeking-passion-and-energy-promote-younger-staff-idUSKCN1R60PS

Related posts:

Unknown Chinese startup creates the world's most valuable Bytedance

Bytedance: The complex fortune growing

Sunday, March 24, 2019

Apple CEO Tim Cook grateful for China's opening policy, calls for more global trade with China, he’s bullish on global economy

https://youtu.be/ROkQ0yZl89c

Apple CEO Tim Cook calls for more global trade with China in rare public speech.

https://youtu.be/VYTd-ctTx9o

Key Points

In a speech at an economic forum in Beijing, Cook said Apple is less concerned with the short-term economic outlook because the tech giant makes investments looking ahead years or decades.

His remarks come as China and the U.S. prepare to meet again to resolve their trade dispute, which has roiled global markets, and as Apple is expected to announce that it is launching a video service.

Apple CEO Tim Cook said Saturday that he is “extremely bullish” about the global economy based on the amount of innovation underway, and urged China to continue to “open up” amid complaints from the U.S. and others that it is shutting foreign firms out of key high-tech industries.

In a speech at an economic forum in Beijing, Cook said Apple is less concerned with the short-term economic outlook because the tech giant makes investments looking ahead years or decades.

“In the long term, I’m extremely bullish. I think the key to the economy, unlocking its potential has always been innovation, and when I travel around the world, I’ve never seen innovation at a more feverish pace than I do today, so I’m extremely optimistic,” Cook told participants at the China Development Forum, a gathering of business leaders in Beijing.

His remarks come as China and the U.S. prepare to meet again to resolve their trade dispute, which has roiled global markets, and as Apple is expected to announce that it is launching a video service

The iPhone has long been Apple’s marquee product and main money maker, but sales are starting to decline. The company is pushing digital subscriptions as it searches for new growth.

Apple is one of many American companies now grappling with increasing Chinese consumer anxiety. China is a major market for Apple and other smartphone makers, accounting for one-third of the industry’s global handset shipments.

In other comments, Cook said the world was “facing greater challenges than ever before.”

“Climate change is threatening our planet, poverty and inequality hold citizens and nations back from their potential, basic health care remains out of reach for millions,” he said.

“At the same time ... we can have a healthy planet and a thriving economy. We can continue to lift millions of people out of poverty, and we can give everyone a chance to learn and thrive. To fulfill this potential, we must all work hand in hand, government, academic institutions and businesses like Apple,” Cook said.- CNBC

Read more

China Development Forum 2019 held in Beijing - Global Times

Apple's Cook confident of China's huge market ...

Italy joining BRI paves the road to closer EU-China relationship

As long as the rules of fairness, open tender, full disclosure of terms of deals, concern for the environment are respected, BRI can be a meaningful contribution to economic growth and social development.

Engineering school in Shanghai becomes China's first 5G university

Quiet lawns and playgrounds, students riding bicycles... it seemed to be an ordinary campus scene at the Shanghai University of Engineering Science on Thursday morning, but changes were taking place invisibly because of 5G.

Saturday, March 23, 2019

Equinox to have small impact on Malaysia?

https://youtu.be/TDBi2s4J2A4

PETALING JAYA: Equinox, a phenomenon where the sun is positioned on top of the head in the equatorial region, is expected to have a weaker impact on Malaysia.

“The effects of equinoxes on the equator area are generally lower than the effects of monsoon and climate patterns,” said Malaysian Meteorological Department director-general Alui Bahari.

The equatorial region, he said, receives maximum sunlight throughout the year.

“Due to the constant sunlight it receives, the region will only experience a small variation in its climate due to equinoxes,” he said when contacted about how equinox will affect the weather in Malaysia.

Alui was responding to a message that has gone viral via WhatsApp advising people to drink more water between March 22 and 28.

“Drink more water for the next seven days (March 22-28) due to equinox. The body gets dehydrated very fast during this period. Please share this news to maximum groups,” the message reads.

Alui said equinox happens twice a year, either on March 21 or 22, or Sept 22 or 23.

In Malaysia, it happens on March 21 and Sept 23.

Interestingly, MetMalaysia last year also had to refute news on the Equinox phenomenon.

The department had then said a hike in temperature was expected to take place but would not result in a heat wave as claimed in the message.

Alui said based on the monitoring of thermal wavelength status, as at 4.40pm yesterday, there was no area in the country experiencing heat waves, where the temperature exceeds 37°C in three consecutive days.

“However, there are some areas that are on the alert because the temperature in the area reaches 35 to 37°C, namely Chuping, Kota Setar, Pendang, Sik, Hulu Perak, Kinta, Jeli, Tanah Merah, Kuala Krai , Gua Musang, Jerantut, Maran, Tangkak, Sri Aman and Kapit,” he said.

Universiti Kebangsaan Malaysia’s professor of climatology and oceanography Dr Fredolin Tangang said the hot weather in the Peninsula, especially the west coast, is expected to improve as the inter-Monsoon arrives.

“Usually, there will be thunderstorms in the afternoon and late afternoon. But in Sabah and the northern part of the Peninsula, the hot spell may continue until April,” he said.

The MetMalaysia website showed that several states in the country are expected to see thunderstorms in the coming week, starting today.

For example, in Kuala Lumpur, Selangor, Putrajaya and Negri Sembilan, it is expected to see thunderstorms from March 23 to 25 and on March 28. No rain is expected on March 26 and 27.

There will be thunderstorms from March 23 to 28 in Penang.

In Sarawak, there will be no rain from March 23 to 25 and there will be thunderstorms over inland areas from March 26 to 28.

In the meantime, Malaysians are doing their best to counter the effects of the hot weather.

Lai Yuen Theng, who works in a daycare centre in Kepong, Selangor, said it was preparing porridge and herbal tea for the children to help “cool” their bodies.

Property agent Melissa Chen, who lives in Kuala Lumpur, said she will try her best to arrange house viewings for her clients in the morning as the weather is extremely hot these days.

“I will try my best to stay indoors. Last week, I brought clients to four places to look at condominium units. The temperature that day was about 37°C. I fell sick after driving and walking under the hot sun,” she said.

She also expected a spike in the electricity bill as she used the air-conditioner more frequently.

By Yimie Yong The Star

Related:

Equinox - Wikipedia

Friday, March 22, 2019

'Dark side’ of moon seen from surface for first time; 月球背面真相惊人，嫦娥4号曝光，美俄都不敢公开的月球秘密！

https://youtu.be/6kGVhosu2kM
https://youtu.be/Z75KzQIaM-U
【月球背面真的有外星人吗】中国为什么要去月球背面【嫦娥之父】欧阳自远：嫦娥四号与诡异的月球背面！
https://youtu.be/f5Twp2SEq2w

China lands on far side of the moon

https://youtu.be/3reQGq3yX8A https://youtu.be/U2dcjFCvnmU
https://youtu.be/deAjOFW5kgg https://youtu.be/oShND5JmGY0 https://youtu.be/YLoA_nofE0U https://youtu.be/L6Bm5EVoW1c

China's Chang'e-4 spacecraft, a world's first mission to moon's far side, boosts Beijing a space superpower

Thursday, March 21, 2019

China’s private companies reaching for the stars

Lift-off: A security cordon is placed around the launch site of an OS-X suborbital rocket, which was developed by OneSpace Technology Group Co Ltd, in northwestern China last May. — China Daily

SATELLITES have become the latest gold mine for private companies in China as they rush to reach for the stars in the space sector.

The country’s satellite industry, which used to be dominated by state-owned enterprises, is gradually changing and opening to private players.

More than 90 Chinese start-ups, mostly focused on satellites or rockets, have taken their first steps in the space industry in the past four years, a senior industry expert from a Beijing-based satellite startup, who wished to remain anonymous, told China Daily based on the start-up’s internal research.

“It means that on average, nearly two startups were founded every month in the past four years in China. It is significant if China is to grab a slice of the cake from the global competition in the budding space industry,” he said.

According to The Space Report 2018 issued by The Space Foundation, the total market of the global space economy was US$384bil in 2017, a year-on-year increase of 7.4%. Of that, commercial activities accounted for more than 80%.

Industry experts pointed out that China only accounts for 3%-5% of the space economy globally, but the country is gaining ground fast in terms of both scale and technology.

Since 2014, Chinese authorities have launched policies and called for private players to actively participate in the country’s space industry.

Earlier, the National Development and Reform Commission, along with the Ministry of Finance and the State Administration of Science, Technology and Industry for National Defence, also unveiled a 10-year blueprint to promote the commercial space sector.

LinkSure Network, a Chinese free internet access provider, announced a plan in November last year to launch China’s first Wi-Fi satellite in 2019.

It aims to send 272 satellites into space to provide free Wi-Fi globally by 2026. The first batch of investment will hit 3 billion yuan (US$447mil).

Similar to Elon Musk’s Starlink plan, the satellites will be used to expand internet coverage and boost internet speeds, the Shanghai-based internet firm said.

“The starting point of such a plan is to offer free internet connections to people around the world, especially those in underdeveloped areas or rough terrain,” said Wang Xiaoshu, rotating president of LinkSure Network.

The company, founded in 2013, became a unicorn – a startup valued at more than US$1bil – in 2015 by raising US$52mil in its A-round of financing.

“Satellite connection will be a great supplement to the ground network. The ground network, which relies on stations, has limitations due to, for example, weather and land form,” said An Yang, chief scientist of LinkSure’s satellite project.

“On a global scale, the number of satellites is far from meeting the huge demand for communication. The future of the communication sector must be a combination of space and ground,” he said.

Under the plan, revenue will come from services to high-end users as well as those provided to areas that the ground network is unable to reach, An said.

The space era: In this undated photo, An Yang, chief scientist of the satellite project at LinkSure Network, introduces the company’s satellite system at a news conference in Beijing. — China Daily

LinkSure is not the first. A string of startups have sent satellites into space for different purposes.

For instance, Guoxing Yuhang Co Ltd, or ADA Space, a private firm based in Chengdu, Sichuan province, launched two artificial intelligence satellites at the end of last year.

Though the country’s internet giants have not directly announced plans to develop, produce or launch satellites, they are showing a desire to do so.

Tech conglomerate Alibaba Group launched a communication satellite to support its online shopping gala last year while Baidu chief executive officer Robin Li said earlier that he hoped more support could be given to private companies in the civilian space segment.

Another tech giant Tencent Holdings Ltd has also jumped on the bandwagon by investing in US startup Moon Express, which was founded in 2013 by a group of space entrepreneurs.

The US startup is looking to profit from the commercial space sector through leveraging core technologies including using drones to mine asteroids.

Compared with state-owned companies, private firms are better at commercialisation including attracting and using money and resources, which will greatly improve efficiency, said Yang Feng, chief executive officer of Spacety, a commercial aerospace company specialising in developing commercial micro and nano satellites.

“It is also a promising area that state-owned and private space companies can supplement and co-operate with each other,” he added.

Notably, some private players have also entered the overseas market. China Communication Technology Co Ltd in Shenzhen, a satellite-based communication services provider, has been beefing up its overseas presence to exploit foreign opportunities.

“We aim to extend our business to Africa this year and will tap into one or two Belt and Road economies each year,” said Wu Guangsheng, president of CCT.

CCT is currently offering services and products in the US, Europe, the Middle East and nine other countries and regions that are participating in the Belt and Road Initiative.

In 2017, its overseas revenue was about 9 billion yuan, which made up more than 60% of the total.

It also plans to further explore South-East Asian markets including Indonesia, Malaysia and the Philippines, and promote its products in Central Asian economies such as Kazakhstan.

Last year, the company entered the Philippines by acquiring G Telecoms Inc, the third-biggest telecom operator in the local market.

“In the past, we could only co-operate with local (telecom) carriers in foreign countries by selling our equipment to them. But with this big step, we can operate independently, be it launching our own satellites or providing data-related services,” Wu said.

The business could have huge potential as some 75% of the Philippines’ 100 million population are aged 25 or under and they have a voracious demand for communication services.

So far, CCT has received orders from civil aviation and public security departments in the Philippines, Indonesia and Malaysia.

In 2018, at least 15 private space companies disclosed their financing with the total amount estimated to reach more than 2 billion yuan, according to a report from 36Kr, a science and technology media group.

A report from China Money Network pointed out that seven private space companies had raised more than 1.66 billion yuan by August 2018.

MatrixPartners China, IDG Capital, China Growth Capital and Shunwei Capital were among the major investors.

Despite intensive capital support, industry insiders pointed out that there is still a long way to go for Chinese private firms to gain a lead.

For startups, money is still the bottleneck, said Jiang Yunwei, president of CITIC Juxin (Beijing) Co Ltd Capital Management, in a report.

“A company cannot earn money by launching a single satellite and the commercialisation of satellites needs a network of dozens of satellites, which costs a lot,” he said.

A satellite network requires at least 1.8 billion yuan to 2 billion yuan, according to Xie Tao, founder and chief executive officer of Beijing-based space startup Commsat Technology Development Co.

Facing such pressure, satellite startups are expected to address another challenge – to reduce the cost of developing and launching up satellites.

“Companies should change their approach of using costly accessories made only for space,” said Xie. “Private companies can leverage commercial components to replace expensive ones.

” Zhang Jiacheng, an investor in space startup OneSpace, agreed.

“China is still at the starting point in the commercial space sector. A well-rounded system needs to be established to offer space startups affordable and sustainable services.” — China Daily/Asia News Network

Related posts:

China launches satellite for space-based free Internet broadband and free wifi worldwide

Internet Protocol Version 9 第一代互联网 IPv9, Quantum Computing, AI and Blockchain: The Future of IT

China successfully launched world's first quantum communication satellite 'very exciting' !

Chinese quantum satellite to protect China from cyber attacks https://youtu.be/iymqNogNxEg

China to build world-leading national laboratory for quantum information sciences

Sunday, March 17, 2019

White supremacy - Terrorists attack mosques in Christchurch, New Zealand

https://youtu.be/lUrXuS0sPOo
https://youtu.be/P82abyLlid8
https://youtu.be/MelLrrx9PFk
https://youtu.be/IHqp9V1-8eY
https://youtu.be/klL6Go-FC5Q

Gunman live-streamed shooting at mosques

CHRISTCHURCH: An Australian gunman (pic) involved in attacks on New Zealand mosques that left at least 49 people dead published a racist manifesto on Twitter beforehand then livestreamed his rampage, according to an online analysis.

Police called for people not to share the video, which showed the gunman shooting repeatedly at worshippers from close range.

“Police are aware there is extremely distressing footage relating to the incident in Christchurch circulating online,” New Zealand police said in a Twitter post.

“We would strongly urge that the link not be shared. We are working to have any footage removed.”

The media analysed a copy of the Facebook Live video, which shows a clean-shaven, Caucasian man with short hair driving to the Al Noor Mosque in central Christchurch, then shooting as he enters the building.

It was determined the video was genuine through a digital investigation that included matching screenshots of the mosque taken from the gunman’s footage with multiple images available online showing the same areas.

The manifesto detailing motivations for the attack was posted yesterday morning onto a Twitter account with the same name and profile image as the Facebook page that streamed the attack.

Entitled The Great Replacement, the 73-page document said the gunman had wanted to attack Muslims.

The title of the document has the same name as a conspiracy theory originating in France that believes European populations are being displaced in their homelands by immigrant groups with higher birth rates.

The manifesto said the gunman identified himself an Australia-born, 28-year-old white male from a low-income, working-class family.

He said that key points in his radicalisation were the defeat of the French far-right leader Marine Le Pen in 2017 elections, and the death of 11-year-old Ebba Åkerlund in the 2017 Stockholm truck attack.

Australian Prime Minister Scott Morrison confirmed the attacker at the Masjid al Noor mosque was an Australian.

“We stand here and condemn, absolutely the attack that occurred today by an extremist, right-wing, violent terrorist,” said Morrison.

New Zealand authorities said that three people had been arrested, but their identities were not made public.

The media confirmed the authenticity of the live-streamed video partly by matching the distinctive features at the mosque seen in the footage with images available online.

These included a fence, postbox and doorway at the entrance to the mosque. — AFP

A history of recent attacks linked to white supremacy | World news ...

Christchurch appears to be the latest in a global series of rightwing terror

People arrive for Sunday services at the Mother Emanuel AME church in Charleston, South Carolina after a shooting. Photograph: John Taggart/EPA

https://www.theguardian.com/world/2019/mar/16/a-history-of-recent-attacks-linked-to-white-supremacism

In the past eight years, across continents, white supremacists have repeatedly chosen the same targets for shootings, stabbings, bombings and car attacks.

The mass shootings on Friday targeting two mosques in Christchurch, New Zealand, killing 49 people, appear to be the latest in a drumbeat of attacks motivated by the belief that the white race is endangered. The perceived threats include Jews, Muslims, immigrants, refugees, feminists and leftist politicians.

The attackers have not been part of a single white supremacist group. But they are steeped in the same global racist propaganda, fluent in the same memes and conspiracies, and the perpetrator of one attack often references the names of the killers who came before.

In less than a decade, these attacks have included:

Read more: https://www.theguardian.com/world/2019/mar/16/a-history-of-recent-attacks-linked-to-white-supremacism

Massacre livestream tests internet governance

The internet has promoted economic and social development. Such a function must be ensured, its openness maintained. Meanwhile, chances should be reduced for the internet to stir up troubles for society or severely mislead social ideologies. Which country does a better job will be tested by its internet economy's achievements and comprehensive fulfillment of the nation's economic and social development.
Source: Global Times | 2019/3/18 21:38:42

Mass shooting exposes Western flaws

The Western established advantages are indeed tremendous, but its self-adjustment ability is weakening, and some so-called adjustments often surrender to populism. The West is entering a problematic period that strikes at its very foundation.
Source: Global Times | 2019/3/17 20:43:40

Saturday, March 16, 2019

Than Hsiang - Engineering change for greater good

Guan Yin - Goddess of Mercy"

http://thanhsiang.org/en/

Than Hsiang Foundation was established in January 1990 to promote Buddhist education, welfare and cultivation based on the Conviction of: "The Young to Learn, The Strong and Healthy to Serve, The Aged and Sick to be Cared For, The Departed to Find Spiritual Destination."

Ven Wei Wu (right) speaking at a dialogue commemorating the 25th anniversary of his renunciation on April 29, 2017.

Retiring engineer-turned-abbot has made big contributions to education, culture and welfare

BEFORE answering his calling to serve as a Buddhist monk, Neoh Kah Thong was a successful engineer, having done very well in Penang’s pioneer high-tech sector.

He learned Total Quality Management (TQM) from his Japanese teacher and friend, Prof Noriaki Kano, and implemented it successfully at his workplace in Penang, a sales office in Kuala Lumpur, and many government and private organisations.

For 19 years after graduating from a New Zealand university, Neoh worked tirelessly as an engineer, manager and consultant in New Zealand, Malaysia, Asia, the United States and Europe.

He also travelled extensively during this period and learned about the various cultures and acquiring knowledge while building up a wide network.

When he became a monk at 43, Neoh took up the name Venerable Wei Wu and continued to implement the TQM system at Bayan Baru’s Than Hsiang Temple which he founded with a group of friends working in Penang’s multi-national companies, mostly from Hewlett Packard.

“There was no looking back. With the help of my colleagues, friends, benefactors and supporters, we embarked on the mammoth task to build up the Buddhist organisation till today,” he said.

For many years, the Buddhist fraternity, especially those staying in Penang and the northern states, have regarded Ven Wei Wu as synonymous with Than Hsiang and vice versa. He is highly revered as a fatherly religious figure.

However, come March 16 this Saturday, Ven Wei Wu will retire as the Than Hsiang abbot at a ceremony where Ven Zhen Dian will be installed as the new abbot.

Born into a wealthy family, Ven Wei Wu, now 70, said his parents passed away before he was ordained.

“My eldest sister and foster mother were initially concerned about me abandoning my successful career. But they soon came to accept my decision and happily witnessed my ordination by Senior Ven Xiu Jing.”

Than Hsiang now has extensive ‘cradle to grave’ services and facilities including 10 kindergartens, Dharma classes for children and adults, Taiji classes, pre-marital courses, free clinics, vegetarian canteen, counselling centres, homes for senior citizens at several branches in the country as well as the International Buddhist College in Thailand.

He recalled that Than Hsiang was mooted at the Hewlett Packard canteen when his colleagues questioned him about his vegetarian diet.

“They also questioned me about Buddhism and its practices. We then started meditating and doing puja together in a colleague’s house before setting up a centre in Bayan Baru, which later became Than Hsiang.

“I received my higher ordination at the Hsi Lye Temple in the United States. I later received my Chan (Zen) Dharma transmission from Senior Venerable Bo Yuan in the Zhaodong Chan Dharma lineage,” he added.

Than Hsiang Temple was initially a place mainly for spiritual practice.

Later, it extended to play a social role in promoting education, welfare and cultural activities.

According to Ven Wei Wu, although Than Hsiang is a spiritual organisation, it is also active in education, social and cultural work.

“I believe that Than Hsiang will become better when I retire as abbot but I will still play a different (advisory) role.

Than Hsiang now has extensive ‘cradle to grave’ services and facilities including 10 kindergartens, Dharma classes for children and adults, Taiji classes, pre-marital courses, free clinics, vegetarian canteen, counselling centres, homes for senior citizens at several branches in the country as well as the International Buddhist College in Thailand.

“My successor Ven Zhen Dian was among the first batch of monks and nuns to be ordained at Than Hsiang Temple after me, so he is no stranger to the older devotees,” he said.

On his future plans, Ven Wei Wu said he would want to attain spiritual liberation, ultimately Buddhahood. He would also like to share the Dharma with friends in China and Western countries, if necessary to continue in future lives.

Than Hsiang started with about 20 members in the 80s, today it has 20,000 members and some 200,000 who support the organisation directly or indirectly in and outside Malaysia.

They have set up facilities such as a Metta Free Clinic, 10 kindergartens, two Mitra counselling centres and four senior citizens’ homes.

In Malaysia, there have branches in Penang, Kedah, Selangor, Wilayah, Negri Sembilan and Perak.

In Thailand, they have a Foundation and the International Buddhist College (IBC) which will be celebrating its 15th anniversary this year.

International Buddhist College IBC

https://youtu.be/4ONLBYIa0VA

IBC is an accredited institution offering BA, MA and PHD degree in English and Chinese mediums.

They have produced graduates from more than 30 countries. The students were recruited from top schools and universities such as Yale, Columbia, HKU, MU and NUS.

IBC graduates have been accepted into top universities of the world.

Currently, Than Hsiang is supporting the four Phor Tay schools financially as well as providing teachers with Buddhist classes.

The good work of Ven Wei Wu is the visible outcome of Than Hsiang’s noble mission: “For the young to learn, the strong and healthy to serve, the aged and sick to be cared for, and the departed to find spiritual destination.”

Source: Metro News

Related:

Hundreds take part in Buddhist offering ceremony

Wednesday, March 13, 2019

Risky business of overseas ‘jobs’ , Don’t get conned, Malaysians warned !

Scam Job Offers: How to determine if a job offer is scam

The promise of lucrative salaries are luring many Malaysians abroad but most are scams leaving these job seekers cheated and in need of rescuing.

The promise of lucrative salaries are luring many Malaysians abroad but most are scams leaving these job seekers cheated and in need of rescuing.

IT is ironic that at the same time there is an ongoing crackdown on illegal immigrants in the country, Malaysians are being detained in countries like Cambodia, South Korea and even Liberia.

These detentions have increased in frequency to the extent that Wisma Putra has issued a warning to “remind all Malaysians to be cautious of opportunities offered in foreign countries, and always verify the prospective employers”.

It used to be that foreigners (read: South Asians and South-East Asians) were drawn to Malaysia’s booming property and service sectors for better paying jobs.

They still are. On Monday, as part of operations codenamed Ops Mega 3.0, some 73 illegal immigrants, from Bangladesh, Indonesia, India, Pakistan, Sri Lanka and Myanmar, were held by the police under the Immigration Act. These foreigners were working at the Selangor wholesale market without proper work documents.

But how times have changed. The roles appear to be reversed, the Malaysians that have been detained overseas were for exactly similar offences – no proper work documents.

This time last year, The Star’s Bahasa Malaysia news portal mStar Online revealed that there was an estimated 5,000 Malaysians working and staying illegally in South Korea. The less fortunate ones were forced to live like refugees, always on the run from the authorities.

These Malaysians were lured by job advertisements that claimed they could earn a lucrative living in the land of K-pop. They paid recruitment agents thousands of ringgit in fees and entered South Korea with tourist visas.

Some of these Malaysians interviewed by mStar spoke about the hardships they faced including poor living conditions, tough working environment and employers holding back their salaries.

The Korean police and its justice ministry have begun cracking down on these illegals, starting from last month. Those without proper documentation will be immediately deported.

But Malaysians never learn. Two recent cases highlight the need for employees to be more vigilant and for the authorities to crack down on fly-by-night recruitment agents.

First, the case of the 47 Sarawakians who were detained in Cambodia since Dec 11 last year on charges of cheating and initiating and carrying out illegal online gambling activities.

It was reported that the Malaysians were promised jobs with lucrative salaries up to US$1,500 (RM6,100), and only found out that it was a scam when they arrived in Cambodia.

Their plight was highlighted in local media, and Wisma Putra, other leaders and representatives from Sarawak flew to Cambodia to secure their release. They were finally released on Feb 15.

The second recent case also involved Sarawakians. Eight of them were left stranded in Monrovia, Liberia, since Feb 4 after being offered logging jobs with wages up to RM9,000.

They were left stranded in the African nation without any money, and managed to survive because they were given rice by Malaysians working with Sime Darby in Liberia.

“If not for the rice, we would definitely be dead,” said Aji Surau, 39, after arriving at KL International Airport on March 4, one month after their ordeal.

He said they were abandoned in a house with no water and electricity and even resorted to eating papaya leaves to survive.

All these cases have one thing in common – dodgy job syndicates.

These unscrupulous agents rake in thousands of ringgit by promising the world to gullible locals.

“I want to advise Malaysians to be cautious when getting job offers overseas because this is not the first such incident.

“Check with the authorities concerned, especially the Malaysian representatives, whether the company offering the job is legitimate or not,” Foreign Minister Saifuddin Abdullah told reporters after the Liberian detainees were released.

The Cambodia and Liberia incidences appear to be genuine cases of people who were promised legitimate work contracts. But for every genuine case, there are five others who play the “victim” card.

In some countries where Malaysians are caught working illegally, they claimed that they were lured there with guarantees of proper employment with legal documentation. But the reality is that these people went overseas on tourist visas with the sole intention of getting a job, by whatever means.

Did you know that Malaysians are the worst visa abusers when it comes to overstaying in Australia?

According to a 2018 report from the Australian Department of Home Affairs, there were 62,000 people overstaying their visas and living illegally in Australia, with Malaysians making up the largest number. Between 2016 and 2017 alone, 10,000 Malaysians had overstayed!

As a result of this blatant abuse of tourist visas, the Australian authorities have made it harder for Malaysians to enter the country.

Australian-based news site news.com.au quoted a source from the Malaysian mission in Australia as saying that more Malaysians are being turned away at the airports, despite having the necessary visas approved before departure.

These visa scams are not only giving us a bad name, but also making it more difficult for genuine Malaysian tourists to visit Australia.

The latest “tourist” scam is via social media where syndicates are luring people to become drug mules by offering them cash and opportunities to go for tours abroad. But beware, if you’re caught deportation is the least of your problems. A stiff jail sentence or even the death penalty awaits.

By Brian Martin On your side

Brian Martin

Brian Martin, executive editor of The Star, would like to come clean. He has vested interest in the proposed assessment rate hike since he’s a resident of Kuala Lumpur.

Don’t get conned, Malaysians warned

Labour Dept: Only use services of licensed private recruitment companies

From “interviews” in coffeeshops to being persuaded to work in war-torn countries with lucrative salaries, Malaysians are being increasingly conned into travelling to work overseas, only to run into trouble.

This has prompted the Labour Department to advise those wishing to work overseas to only use the services of licensed private recruitment companies.

Seeking the services of licensed private job agencies under the Labour Department as provided in the Private Employment Agencies Act (1981) would help one avoid being conned or exploited by unscrupulous agents or employers overseas, it said.

“There’s a possibility that high salaries offered has become a pull factor in enticing Malaysians to work overseas.

“The Labour Department is always carrying out enforcement activities under the Private Employment Agencies Act (1981) to monitor the activities of illegitimate agencies and agents,” it said in response to questions by The Star.

The Labour Department, which is under the Human Resources Ministry, was responding to queries about the increasing media reports highlighting Malaysians being conned in overseas jobs.

While the Labour Department said it did not have any records on the numbers of overseas job scam cases affecting Malaysians, it encourages those with information on such cases to come forward.

“We have not received reports on job scams. However, victims can file a report with the Labour Department, including in Sabah and Sarawak for any job scams issues so that we can act accordingly,” it said.

MCA Public Services and Complaints Department head Datuk Seri Michael Chong said many of the job scam victims he encountered were enticed to work in African or Middle Eastern countries.

“Many of these countries are war-torn and so these ‘employment agents’ would tell the victims there is a lot of construction work to rebuild the country.

“These victims are mostly semi-skilled or unskilled workers who are attracted to the salaries which are supposedly from RM6,000 to RM10,000 a month,” he said.

However, he said, these victims were then cheated out of their salaries and left with little to no protection in a foreign country.

To stop these scams from occurring, he urged those interested to find work to carry out background checks on the company.

“You must make sure that there is an incorporated company so if anything happened to you, there is a company we could look for,” he said.

He also advised people to be wary if the salary offered is too good to be true, or if the job interview doesn’t take place in the company’s office.

“There are some ‘interviews’ which are even being conducted in coffeeshops,” said Chong.

He said he noticed more of such cases in recent years, especially as many Malaysians want to go overseas to eke out a livelihood.

Last December, 47 Malaysians were detained in Cambodia for being involved in illegal online gambling activities.

It was reported that they were offered jobs with lucrative salaries but had only found out that it was a scam when they arrived in Cambodia.

In February, eight Sarawakians were stranded in Liberia after allegedly being cheated by an employment syndicate.

The Malaysian Employers Federation called for a dedicated government agency to help protect the welfare of Malaysians who go overseas to work.

Its executive director Datuk Shamsuddin Bardan said this was to prevent them from being exploited and falling prey to illegal job syndicates.

“We have more than one million Malaysians working overseas but we have no proper body to monitor their affairs,” he said yesterday.

He noted that the Filippine government would ensure that their citizens who are sent overseas to work are properly trained and that they are employed by a legitimate company.

“The Filipino government would ensure that there is a proper document signed between the employer and agent, and if anything happens to the worker, the agent will be held responsible.

“We should emulate the Philippines to help our workers who aspire to work overseas,” he said.

However, he said the grim reality was that many Malaysian workers were enticed to work overseas because of the attractive pay, even if the details surrounding the employment were unclear.

“Employees are attracted to the higher wages offered in those countries, where the income promised triple or even quadruple what they are earning in Malaysia – and most of these jobs do not require high level of skills such as picking fruit.

“A difficult economic situation in Malaysia with the rising costs of living also contribute to the problem.

“We must re-look at our employment practices, how we remunerate our employees and develop our talent,” he said.

Malaysian Trades Union Congress secretary-general J. Solomon agreed that better policies and enforcement were needed to monitor the outflow of Malaysian workers to other countries.

“The authorities and their relevant agencies need to know where Malaysian workers are going when they travel overseas,” he said.

He said tighter enforcement was especially needed as more false job advertisements were disseminated easily on various social media platforms.

“It is high time the Cabinet review and encourage companies to comply with minimum wage level,” he said.

The low wages in Malaysia and the stigma of 3D (dirty, dangerous and difficult) jobs cause Malaysians to desperately seek employment outside the country, he added.

“These factors are causing Malaysians to go elsewhere to find alternative sources of income,” he said.

By Fatimah zainal and Clarissa Chung The Star

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