Verdict

I'm staying.........

Yep. For better or for worse, I'll be staying. Hopefully whoever who comes in will treat us well.... and not have any camps.

To go or not to go....

Well.... decisions have to be made whether to stay where i am now, or to move on...

Stay tuned to the decision...

Achievement of the (First 1/2 of the) year!!

Yes people...!!! I managed to complete the 15 km run within 2hours!!! Just barely. =D

FYI ..Thet's the qualifying time for ladies. A big pat on my back..... ekeke.. Thought I wouldn't make it within 2 hours but I did... woohoo... !!!

Here's some pix... not very glam...(duh!!! I jogged/ walked/ ran 15 km!!)

In the News (Part 2)

Gan joins BDO as partner
Thursday May 17, 2007

The Star Online > Business
http://biz.thestar.com.my/news/story.asp?file=/2007/5/17/business/17754906&sec=business


KUALA LUMPUR: Former KPMG Malaysia managing director and head of financial advisory services Datuk Gan Ah Tee has joined BDO Binder as a partner, said executive chairman Datuk Tan Kim Leong.

Tan confirmed that five former KPMG personnel, including Gan, joined BDO Binder yesterday. The others are Mok Chew Yin, Wong Wing Seong, Tan Chee Peng and Ooi Siew Choo.

“We are always looking for new people. Like other companies, we want the best,'' Tan told StarBiz.

He said all the five new executives were recognised for their work in corporate finance and by the industry. Besides Gan, Mok was also made a partner in BDO Binder. When asked if he would offer equity to the new executives, Tan said it would depend on their performance.

Currently, the equity partners in BDO Binder comprise Tan, David Siew, David Tan and Datuk Tan Kim Chin.

It was speculated that Tan could be offering 40% stake to the new partners, who would eventually take over the firm. However, he declined to comment if he would be selling his stake.

Gan and Mok were said to be strong in corporate finance work and had already secured big contracts while they were with KPMG. Together with BDO Binder's strong brand name in corporate finance, this was expected to further beef up the company's profile.

KPMG senior partner Quah Poh Keat has also separately confirmed that several people had left the firm.

“They left on their own accord to pursue other opportunities. We thank them for their years of service and dedication and wish them well,” he told a press conference after KPMG's Global IT Advisory Partners Summit 2007 yesterday.

Quah said as the resignations were largely from KPMG's corporate finance division, they would have some impact on that division.

“Nevertheless, the direct impact will not be significant as all the other eight service lines within the advisory unit remain intact and active,” he added.

5km

Ran/ brisk walked 5 km on the treadmill yesterday. It took about 45 mins..

How on earth am i going to maintain that speed for another 2 rounds??? 15km in 2.25hr... really will K.O. at the end of it.

The run is this Sunday!! aarrgghhh....

Mood...

Feeling confused, upset and most of all.... PISSED!!

In the news.....

Here's an update on what's happening at work .... it's published in the local business papers this week.....

Article's URL: http://www.theedgedaily.com/cms/content.jsp?id=com.tms.cms.article.Article_8d89312a-cb73c03a-162198b0-80584850,
---------------------------

Corporate: KPMG advisory team leaves for BDO
14 May 2007
By Lim Ai Leen

Key employees at KPMG Malaysia's financial advisory unit are leaving for rival accounting firm BDO Binder, say industry sources.

Managing director and head of financial advisory services Datuk Gan Ah Tee leads the exit this week. It is believed that Gan takes with him executive directors Wong Wing Seong and Mok Chew Yin. At least another dozen personnel, comprising partners and directors, are expected to leave in the coming weeks. Sources say this will halve staff strength at the unit.

"This move poses two challenges for KPMG. First, it will have to rebuild its advisory team. Its second concern is whether clients will follow those who have left," remarks an industry executive.

Senior partner Quah Poh Keat says KPMG has a continuous succession plan throughout the firm to grow its business, including financial advisory services, which Gan was heading.

Gan is known in financial services circles for his restructuring work in the post—Asian crisis days. He has headed the advisory unit since 2001 and key clients include Lion Group, Sime Darby, Khazanah and ECM Libra Avenue. He has been with KPMG for 23 years.

This move may also unsettle the Big Four accounting firms — the other three are PricewaterhouseCoopers (PWC), Ernst & Young and Deloitte's — for a few reasons.
First off, the Big Four command the lion's share of audit and accounting work in the country, not least because of their sheer size. Employees number between 1,000 and 2,000 at each firm, and these firms are more used to acquiring from, rather than losing staff to, the smaller firms.

With this coup however, BDO Binder, the fifth largest firm with a staff strength of 300, will propel itself to No 2 in terms of corporate advisory work in Malaysia. PWC is still considered the leading advising accountants, though an insider notes that it has cut down its advisory portfolio due to conflicts of interest with clients that it also audits.

In addition, staff size does not equate with profitability, say industry insiders,
"For example, there are RM44 billion worth of non—performing loans in the banking industry that need to be sold into special purpose vehicles or restructured. For every RM1 billion of bad loans, there is RM10 million to be made in advisory fees, spread amongst accountants, lawyers and valuers," says an executive in the industry.
Assuming accountants get a third of these fees, this means the advisory fees from banks alone could be worth RM145 million.

It is also no secret that the high manpower bread—and—butter work — audit and accounting services — faces thinning margins and stiff competition. In response, the Big Four are believed to be meeting to discuss raising audit fees for local listed companies.

Finally, the local Big Four, due to their global links, are already facing a talent drain. Their trained personnel are upping to join their counterparts in China, Hong Kong, Singapore and, more recently, the UK. Rising demand for skilled accountants worldwide — fuelled by stricter, more complex reporting rules and China's economic boom — is depleting the local pool and raising stress levels on accountants.
Hence, losing key staff now, particularly in the lucrative advisory business, is a cause for concern.

It is believed that Gan is joining BDO Binder to pursue a regional advisory role for the group. In particular, his team is expected to advise Malaysian clients who set up businesses in China and Vietnam.

"There are less protocol and territorial issues at BDO compared to the Big Four firms," remarks an industry observer.

Sources say that Gan is also joining BDO with a view to eventually taking over the reins from executive chairman Datuk Tan Kim Leong.

"It's been known in accounting circles over the last two to three years that BDO Binder has been looking for a buyer," says the industry observer.

KPMG Malaysia has 56 partners and 1,600 staff across 10 offices. It is part of KPMG International, which operates in 144 countries and has over 104,000 professionals working in member firms around the world.

BDO Binder is a member of BDO International, a worldwide network of professional firms with a fee turnover of over two billion euros (US$3 billion). BDO International is represented in over 105 countries through a network of 601 offices staffed by 25,000 partners and employees.

So you think you can RUN...

Yes people.. going to attempt a "marathon"...
or rather 1/3 of the actual thing...

On the 20th May Sunday, we will be "brisk walking/ running 15km... hopefully within 2.5 hours.... hopefully....

The qualifying time should be 2 hours for ladies.... but we shan't be tooooooo.... ambitious...

Prepared to take MC the day after.... =D

A & W

I swear... it's the best!!!!

Having not eaten it for the last few months... it is pure "heaven"!! The corney dogs... the fried chicken.... the oh so yummy and scrumptious waffle.... yyuuummmm...

the ice cream oozzing over the waffle.... double scoop.... slluuurrrppp....

You'r missing out if you've never had it.... the simple joy in life...

Quotes on a certain topic...

An honest answer is the sign of true friendship.
--Proverbs 24:26

Nothing is great like friendship on earth, No jewel No pearl has got it's worth. No one except a friend can be trusted, Your life will never ever get rusted.
--Unknown

Don't worry so much about your self- esteem. Worry more about your character. Integrity is its own reward.
-- Laura Schlessinger

Honest hearts produce honest actions.
-- Brigham Young

The Big Shakeup....

Well, there's been a major shakeup in my division/ department....

IE. all my big bosses are leaving and ditching us small fries behind...

My HOD and Big Boss, who bring in the jobs are going. We no longer have the license to be investment advisors... so where does that leave us?

Currently directionless. Feel like a damn chicken running around without a head.

Will see what happens next week when the bosses officially are no longer around. Reckon there'll be a meeting to tell us what will happen.

Seriously, my dept is so screwed.

What should I do??? Transfer to some other department or move on to a totally new job???

4 Muggateers!!!

Thanks for the Mug Ms K...!!!!

Can you all guess which mug is mine????

Give you a clue.. my room used to be that colour!

Ms K's Birthday...

Yes... Ms K pix is finally on my blog... happy....=D

Yesterday was a SHORT night at Velvet...

We started drinking at 11.15pm... started with a tequila pop.. then sex on the beach.. then illusions... then someone bought a vodka bottle... so we had vodka mixes... then... the b'day girl had a flaming.. haha... you can imagine how gone she was last night. she spent half the time we were at Velvet in the toilet; puking and she couldn't stand..

I didn't feel that great too after drinking so much... so after puking my guts out (too) i was a lot better.. kai, i think i know why u used to black out. Seriously started seing black spots. not funny!

Well, it's a good thing we had 3 "strong men" waiting outside the toilet to help us with the drunka.. erm.. Ms K... which kinda was of no use, coz in the end, it was me and Em who assisted Ms K out. By the time we left, it was 1.45..

Gone as she was, she sprawled on the back seat snoring away. Me and SMT had to squeeze to one side of the car. FYI 5 of us car pooled....

SMT, I have never seen anyone this happy when their friend is sloshed... ekeke.... well, we're all party to what you instigated... SMT was so trigger happy. Kept snapping non stop of the b'day girl's pix. Hahaa... LOTS of incriminating pix!!! =D

Don't worry... some of them are below... hehee...

Gary was nice enough to follow behind in his car to make sure she's ok, also in case she's a dead weight. Which would mean, even 4 girls won't be able to handle..

It was a good thing that she only puked again when she got home.... on the car porch. hehee... then into the plastic bag.. After we assisted her to her room, she hugged the toilet bowl... (I hope u washed it recently!!)

While gary attended to Ms K in the toilet, the rest of us girls were goofing around taking photos on her bed... =D Check out the pix below... muahahaa....

(Moral 1, never go clubbing on your birthday...
Moral 2, never bring a camera along when you know you're gonna get drunk.
Moral 3, with friends like us.. who needs enemies...) hahaha... Happy birthday Ms K!!

PS. As requested by the Birthday Girl..... I have taken down the more incriminating pictures.... below are the decent ones =p Those who missed out earlier... too bad..