Sunday, 12 December 2010


The Job Description:

The incumbent will report directly to the Financial Controller, and be responsible mainly to Performs complex tax preparation, tax research and tax planning with minimal supervision; Provides work direction and technical guidance to less experienced staff; Contacts clients to resolve minor tax matters. Performs tax planning under direct supervision; may be assigned Tax in-charge responsibilities. Oversees tax planning of entities by interpreting tax regulations, completing tax returns and ensuring compliance.

Detail task include:
  • Prepares state, local and special tax returns by collecting, analyzing, and formatting financial information.
  • Complies with state, local requirements by studying regulations; enforcing adherence to requirements; advising management on needed actions; communicating with attorneys, tax specialists and our transfer agent to ensure timely tax reporting requirements; and preparing discrimination testing.
  • Prepares financial statements, reports, and records by collecting, analyzing and summarizing information and trends.
  • Maintains professional and technical knowledge by attending educational workshops or classes; reviewing professional publications; establishing personal networks, participating in professional societies.
  • Contributes to team effort by accomplishing related results as needed, including special projects.

General Requirements:
  • Must possess at least Bachelor degree from recognized university majoring in Accounting/Finance/Tax/Fiscal.
  • Having minimum 2 years experience at the similar position or 4 years experience as tax consultant in tax consulting firm or as tax supervisor in MNC.
  • Hold a Certified National Tax Consultant issued by IKPI (Brevet A & B) is preferred.
  • Must be hands on in solving problem and avoid short cut and short-term solutions.
  • Must be strong in detail and number crunching.
  • Possess good knowledge of Cost Accounting, Management Accounting and Tax.
  • Knowledge/experience with Accounting/Financial software.
  • English proficiency, computer literacy and can operate Microsoft Office (especially Excel, Word and Power Point).

An attractive remuneration package would be provided commensurate with the qualification and experiences of the selected candidates.

Internal Audit


To assist in evaluating the adequacy and effectiveness of internal control of business processes/operations/systems and make recommendations to improve internal control.

  • Bachelor's Degree or higher in Accounting Finance or related field.
  • 0-3 years in audit field
  • Business analysis (understand True Group’s business operations, products and services, analyze key risks and key control relevant to business processes/systems under review), comply with the Internal Auditing Standard and Practice (IIA’s Standards)
  • Knowledge in risk identification and assessment to apply risk-based audit approach.
  • Be able to work under supervision according to the work plan and complete the assignment according to the target date.
  • Be able to use audit tool such as IDEA, Teammate.
  • Be able to assist in assessing risks and the related business impact.
  • Be initiative and reasonable in making recommendations to improve internal control.
  • Good communication skills in Thai and English.
  • Be able to learn and adapt to changing environment.

Senior Accounts Executive

  • Overall responsibility for financial and corporate matters of the Company’s clients which includes handling the full sets of accounts and audit schedule.
  • Preparation of annual unaudited financial statements as well as ensure that all accounting activities comply with the accounting policies and Singapore Financial Reporting Standards (SFRS).
  • Perform clients’ transactions processing including Accounts reconciliation, Corporate/Statutory reporting for Accounts Receivables, Accounts Payable globally in an accurate and timely manner.
  • Management and settlement of Accounts Payable, Petty Cash, Budget & Expense Control.
  • Involve in weekly, quarterly management reporting and cash flow forecasting and conclude monthly statements at subsidiary level as well as consolidated group level.
  • Handle clients’ payroll matters including staff claims and maintenance of their trust account.
  • Assist and manage any other ad-hoc duties assigned by the Accounts Manager.

  • ACCA / Degree in Accountancy with at least 3 years working experience preferably in a CPA Firm
  • Meticulous, eye for details, precise, organised & efficient
  • Positive working attitude, energetic and proactive
  • Proficient in Microsoft Office and knowledge of Accounting software (MYOB version 12.3)

Accounting Clerk


You will be responsible for providing the following accounting services to the team: preparing payments and daily sales reports; checking and auditing coupons, daily sales report and discounts records; inputting accounting journals and handling coupon’s requests. You will be also required to assist in the office administration duties.

  • Pays attention to details, has a good sense of ownership, and is able to work independently
  • Shows strong communication and negotiating skills, with good command in both spoken and written English and Chinese
  •  Form 5 graduate or above
  • Possesses minimum one year’s relevant working experience in accounting field, preferably in restaurant or retail industry
  • Is proficient in MS Office applications, preferably with knowledge of computerized accounting system

Accounts Executive/Assistant


  • Preparation of Journal entries for monthly accounts closing
  • Performing monthly closing and expense analysis
  • Preparation of billings and payments
  • Responsible for accounts receivables collection and tax returns
  • Performing bank and other accounting related reconciliation work
  • Responsible for accounts receivables collection
  • Liaising with the bank, lawyers, company secretary and tax agent
  • Assist in filing and other administrative duties
  • Other adhoc duties as assigned
  • Candidate must possess at least Diploma / Degree in Accountancy or equivalent.
  • Minimum 2 years’ working experience in the related field.
  • Computer literate with good knowledge in Microsoft Office application
  • Excellent interpersonal & communication skill
  • Fluent in English both written & spoken
  • Able to work in tight schedule as a good team work
Qualified candidates are invited to email their comprehensive curriculum vitae stating details of their qualifications and experiences, present and expected salaries.

Saturday, 11 December 2010

Financial Controller

Job Scope

Leading a team of accountants and finance staff, and reporting to the Site Manager and functionally to Division Operation Controller, the position holder has the responsibilities to:
  • Partner with the Site Manager and be in charge of all financial, statutory, custom , tax and regulatory matters with regards to operating in PRC and with regards to financial management, planning, controlling and reporting to higher management
  • Manage Standard Cost Reports and Variance analysis. Overall in charge of standard costing and financial performance review.
  • Direct and coordinate the implementation of budget processes by working closely with top management and functional managers.
  • Lead the preparation of forecast, develop and up-date a rolling forecast model.
  • Analyse operating results and work closely with operations for opportunities to improve productivity, profitability and business performance
  • Ensure timely and accurate monthly internal closing. Develop, document, and maintain accounting guidelines and accounting related work procedures for the company
  • Direct and govern all daily accounting processes and ensure that proper books of accounts are maintained and comply with IFRS standard.
  • Manage day to day GL, AP/AR, FA and treasury function (cash management, bank relations, financing, risk management)
  • Supervise credit control process. Improve asset management, identify and avoid credit risk for the company. Control the authorization process of payable accounts and cash transactions. Review the appropriateness of internal controls and risk management
  • Work with Legal closely on company secretarial matters and all statutory returns. Carry out the company insurance and finance related legal issues.
  • Co-ordinate and liaise with external/internal auditors, bankers and lawyers. Liaise with tax authorities for tax optimization
  • Ensure compliance with local regulations, accounting systems/policies/procedures of the manufacturing, and corporate policies/procedures.
  • Be the guardian to ensure and to strengthen internal control


To be successful in this role, you must possess:
  • Min. bachelor degree in Finance/Accountancy from recognized university. Professional and recognized accounting qualifications e.g. ACCA or its equivalent
  • 12-15 years of progressive experience in accounting and financial management in manufacturing environment of which 5 years were with managerial responsibility in MNC. Preferably from telecommunications, electronics related industries involving high volume manufacturing activities
  • Must have experience in Financial Accounting and Costing and Control with familiarity with accounting regulations, PRC GAAP, IFRS, and legal processes
  • Strong business acumen and deep understanding of manufacturing operations
  • Risk awareness and ability to structure and analyze great and complex amount of data
  • MS Office proficient. Fluent in English and Mandarin
  • Familarity with Chinese culture

Assistant Business Manager - Manulife International Limited

With more than a century of service, we have established an outstanding reputation for its comprehensive service, innovative product development and an extensive professional distribution network. Our strength has been built on our vision to be the premier provider of financial protection and wealth management services. Simply put, that means being the best at everything we do because that is what our customers, our shareholders and our communities expect of us. It's also what we expect of ourselves.Manulife Financial trades as ‘MFC’ on the TSX, NYSE and PSE, and under ‘0945’ on the SEHK.

Job Descriptions

We have one of the largest portfolios of corporate clients in MPF market and we are continuously growing the portfolio by developing new relationships with different companies of all sizes.As you grow your customer portfolio you can develop your career and your remuneration potential. Add to this you have opportunity to get promote to Unit Manager within 7 months, you begin the agency management duties to joining one of the Largest financial institutions in Hong Kong.
We are, therefore, constantly creating opportunities in our Agency Management teams in Hong Kong,you will be expected to develop the professional team to maximise the corporate business.Along with this job, it requires a strong awareness of how we develop the customers' strategic business development processes on wealth management, investment strategy, risk management.

Financial Planner

Certified Financial Planner (CFP) is a globally recognized qualification of the financial profession who works with clients to overcome their financial difficulties to avoid potential pitfalls in their investment strategy; to take care, monitor and help clients to achieve financial goals from the moment they start their career to the day they retire.

We are here to develop a young, energetic and fun financial planning team. If you fit the qualifications below, we would like to hear from you.

Qualifications :
  • Experienced, preferably in financial, banking, insurance, investment funds or related sectors; but fresh graduates will be considered
  • Entrepreneurship
  • Excellent interpersonal, communications and presentation skills
  • University graduates in Business or Finance is an advantage
  • Fluent spoken Cantonese, English & Mandarin
  • Immigrants from mainland China are also welcome

Package :
  • Basic commission and bonus.
  • Low interest housing and car loan
  • Life and medical insurance
  • Provident fund
  • Excellent Training. A Genuine dedication to people development. And the unlimited opportunity that only a truly global organisation can offer.

Accountant / Senior Accountant

  • Handle full set of accounts for Hong Kong office and PRC factory
  • Prepare financial reports and management reports
  • Responsible for taxation review
  • Perform ad hoc assignments as requested

  • Assist in monitoring accounting and finance matters in both Group’s Hong Kong and China entities
  • University graduate in Accounting or related disciplines
  • Qualified or semi-qualified Accountant (HKICPA or CPA Australia)
  • Minimum of 5 years’s solid accounting experience, preferably gained from PRC manufacturing company.
  • Knowledge / experience in PRC tax regulations and accounting is a must
  • Familiar with ERP and Navision is a plus
  • Responsible, good analytical skills and able to work under pressure
  • Good team player with strong communication and interpersonal skills
  • Good command of written and spoken English and Chinese, Putonghua will be an asset
  • Mature, self-motivated and able to work independently
  • Travel to PRC is required
  • Immediate available is preferred
  • Candidates who possess more experience or qualification may be considered for the post of Senior Accountant

Tuesday, 7 December 2010


At Call Personnel, we aim to deliver the best human resource solution for small medium enterprises from a wide spectrum of industries. Given our fifteen years of experience in job consultancy field, we have the knowledge and capacity to duly match our applicants to the right clients with great efficiency. Our key values: trust, charismatic permeates within every level of our firm. We also pride ourselves in building a close and amicable relationship with our clients and applicants. So if you are seeking for a prospective employee or employer, look no further.


A Financial & Investment company located in Wanchai
  • Degree Holder in Accounting, ACCA level II or above
  • 15 years accounting work experience
  • must have experience work in financial, investment or property field
  • Independent, responsible & presentable

Thursday, 2 December 2010

Accounts Assistant x 3 Positions - Protemps Employment Services Pte Ltd

Established in 1987, PROTEMPS Employment Services Pte Ltd is one of the premier Job Recruitment Agencies in Singapore. PROTEMPS Employment Agency provides the staffing link between job seekers and employers and aims to successfully match both parties for a job fit.

Employers looking to recruit temporary and permanent staffs are welcomed to contact us for a no-obligation discussion on how we can be your recruitment partner and assist in filling up the headcount using our comprehensive Resume Database to shortlist suitable candidates who meet the requirements. Our successful recruitment track record has become its own mouthpiece and so well sought after that we have another distinguished record of being able to transform every potential customer into a satisfied client.

Our client is versatile in retail and wholesale operations, maintenance, repair services, commercial, industrial, residential projects

Job Scope:
  • Assisting Finance Team in preparing General Ledger and Accounts Receivable function.
  • Cash collection balancing.
  • Cash Book Management.
  • Liaise with retail sales staff.
  • Liaise with other department within the company.
  • Debtors' statement reconciliation.
  • Relevant certification in Accounting.
  • At least 1 year experience in accounts receivable.
  • Knowledge of computer accounting software.
  • Must be able to work under pressure, multitask and perform effectively in a fast paced environment.
  • Fast learner, resourceful, organized, independent, pleasant and good team player.
  • Able to start work with short notice preferred.
  • Only Singaporeans / Singapore PRs need apply.

Other information:
  • 5 days’ work week. 9am to 6pm
  • Salary: $1500-$1800
  • Working Location: Ang Mo Kio

Interested candidate are requested to register with us at and upload their resume or send their resume to

Senior Accounts Officer (Temp to Perm) - Fesco Asia Personnel Services Pte Ltd(7)

FESCO was incorporated in Singapore in 1996 with the concept of helping clients meet their staffing needs. We have a team of high calibre consultants from multi-disciplinary backgrounds dedicated to provide human resource support to our valued clients.

FESCO is proud to be the staffing partner of many MNCs and local home grown companies. Having grown from being mainly a local player in the staffing industry, we are pleased to announce that we have expanded our operations to Malaysia, India and China.

Our established networks in the region give us the position as a single point of contact in Singapore to coordinate your recruitment assignments with the various agents in these countries.

  • Handle full set of accounts, including GL reconciliations, AP & AR
  • Good in Microsoft Excel handling intermediate to advance level
  • Issue cheques
  • Prepare Monthly report

  • Accounting bachelor degree (ACCA/LCCI preferable) or other equivalent Accounting Certs
  • Min 4+ yrs experience in GL reconciliations / AP / AR management
  • Payroll / banks/ Audit dealing prior experience
  • Able to use Microsoft Excel in intermedia – advance level
  • Remote report experience
  • Strong communication skills; meticulous and highly independent
  • Good initiative / hands on / leader skills
  • Prior SAP exposure will be advantageous
  • Effectively Bilingual in English and Chinese (Spoken & Written)
  • Singaporean/SPR Only (Foreigners are strictly NOT Eligible)

Salary: Negotiable depending on experience

Location: Eunos/Tai Seng area

Working hours: Mon – Fri; 8.30am – 5pm

Interested applicants, please forward your detailed resume with recent photo in MS Word format as an attachment to for further shortlisting.

Accountant (IPO, Financial Reporting, Audit, Analysis) - Tokyo Executive Recruitment Pte Ltd

Our client, an established company for financial & leasing services, is looking for ideal candidates for the following position.

Accountant (IPO, Financial Reporting, Audit, Analysis)

  • Degree or professional qualification in Accountancy
  • Min. 5 years relevant experience, including financial planning and analysis
  • Experience in external and/or internal audit, especially in Big 4 firms
  • Experience in IPO processing and/or reporting in public listed company
  • Bilingual in English and Chinese
  • Proficiency in Microsoft Excel, Words and Powerpoint
  • Ability to travel occasionally


Preparation of monthly, quarterly and yearly Management Report and analysis and business review presentations
  • Preparation of Annual Budget and 5-years Strategic Plans, including quick forecasts
  • Analysis of sales mix, costing, contribution margin and profitability.
  • Evaluating all capital expenditure, feasibility studies on possible new products and the return on investment

  • 5 days work week
  • Working from 8:30am – 6:00pm
  • Located in West area

Salary Range
Basic Salary (depending on experience)
Attractive Annual Package

For those who are interested, please kindly email your resume to

Please do include photo in resume.

Accountant (Accounts Receivable) - Serangoon - Fesco Asia Personnel Services Pte Ltd(9)

FESCO was incorporated in Singapore in 1996 with the concept of helping clients meet their staffing needs. We have a team of high calibre consultants from multi-disciplinary backgrounds dedicated to provide human resource support to our valued clients.

FESCO is proud to be the staffing partner of many MNCs and local home grown companies. Having grown from being mainly a local player in the staffing industry, we are pleased to announce that we have expanded our operations to Malaysia, India and China.

Our established networks in the region give us the position as a single point of contact in Singapore to coordinate your recruitment assignments with the various agents in these countries.

  • Singaporean/Singapore PR (No foreigners please)
  • Degree/Diploma in accountancy with at least 3 years relevant experience in Accounts Receivable in an MNC environment
  • Experience in the manufacturing industry preferred
  • SAP working knowledge is a MUST
  • Good problem solving skills with strong communication and interpersonal skills

  • Generate customer invoices and perform timely billing of AR
  • Liaise with customers on timely AR collections
  • Strong understanding in business
  • Prepare and publish monthly AR reports, Statement of Accounts etc
  • Identify and execute process improvement initiatives
  • Preform month end reconcilation

Working Hours

8.30am - 5.30pm


S$3500 - S$4200

Interested applicants, please forward your detail resume in MS Word format as an attachment to for further shortlisting.

Monday, 15 November 2010

Senior Accountant (Sriracha based) - Mermaid Offshore Services Limited

Mermaid offshore Services Ltd. was incorporated in 1982 and is a wholly owned subsidiary of Mermaid Maritime Public Company Limited which is a listed company in the Stock Exchange of Singapore. Mermaid Offshore Service Ltd. provides sub-sea engineering services for the oil and gas industry widely in the word primarily in the South East Asia.

We have established ourselves as a company recognized by the industry for high quality services, delivered safely and efficiently. We have developed a strong blue chip client base that includes some of the world’s largest oil and gas-related companies.

Currently, we are seeking for high caliber to join our young and dynamic team and to help enhancing Mermaid Group of Companies a rapid growth.

Job Location : Based in Pin Thong Industrial Estate, Sriracha, Chonburi

  • Bachelor or Master degree in Accounting
  • Male or Female, Thai nationality, age between 25-35 years old,
  • 3-5 years experience in accounting
  • Excellent interpersonal, communication and leadership skills
  • Able to work under pressure, flexible and meet deadlines.
  • Good command in both written and spoken English
  • Strong computer skill, including familiarity with Microsoft office and SUN system would be advantages
  • Service mind, hard working, high responsibility and strong team player.

  • Responsible for full set of account and detail support Financial Statement, including of controlling in Account Receivable, Account Payable, Inventory and Fixed assets
  • Provide accounting expertise, review monthly reconciliation and checking inter-company transactions
  • Advise company regarding Withholding Tax ,VAT, BOI accounting and administering accordingly
  • Coordinate with external auditor and revenue department
  • Assist Manager to manage and guide the accounting team as well as develop the company’s accounting and financial reporting systems.
  • Must be organized and posses the ability to multi-task
  • Perform other related duties as assigned or requested

We offer an attractive salary, medical insurance, provident fund and yearly performance bonus. The successful candidate will also find a challenge job and have an opportunity to work with modern & dynamic management team within the multinational environment.

Interested candidates can submit their full resume in English with a recent photo to the following address (email is preferable):

Mermaid Offshore Services Limited

789/55 Moo1 Pinthong Industrial Estate, Nongkham,
Sriracha, Chonburi 10330


Tuesday, 9 November 2010

Accounts Executive - The Advertiser

We are seeking for energetic and high caliber individuals to join our team as Account Executive to cater day to day accounting matter with basic accounting / bookkeeping, LCCI.

Responsibilities :
  • Able to handling full set of accounts.
  • Able to meet deadlines.
Requirements :
  • Minimum Diploma in Accounting/ LCCI
  • At least 2 -3 years experience related to the position .
  • Good command of English.
  • Computer literate and well versed with MS Exel.
  • Excellent client service attitude.
  • Able to work under pressure, independently with minimal supervision, meticulous, possess strong initiative and integrity.

If you’re the steady leader we’re looking for, please apply online, send or e-mail in a detailed resume stating current and expected salary together with a recent passport-sized photograph (n.r.) to :-

Tel: 03-40233261
Fax: 03-40222995

E-mail: /

Accounts & Finance Executive - Anjur Ekar Sdn Bhd

We are an established group of companies with over 30 years of history, with 5 branches located across East & West Malaysia, involved in following businesses:

Oil & Gas Division
Provide rental of Habitat (Hot Work Safety Enclosure) for hazardous areas (upstream and downstream) such as offshore platforms or onshore plants to major oil companies and contractor. Supply a range of corrosion products, safety products and manpower for services & maintenance.

Project Rental Division
Provide services in manufacturing, fabrication, rebuilding, re-engineering, servicing, selling and renting for a wide variety of new and used light machineries including power generator set, welding set, air compressor, forklift etc.

Power Generation Division
Design, build and supply of diesel or silent type power generator set ranges from 20kVA to 2500kVA for both local and export markets.

Responsibilities :
  • Reports to Group Accountant
  • Responsible for overall day-to-day accounting and finance functions include preparing of payments, monitor receipts, etc
  • Closing of monthly accounts and preparing financial reports
  • Monitor cashflow and banking facilities transactions
  • Monitor Debtors and Creditors Aging and prepare monthly aging reports
  • Liaison on banking arrangement and trade line facilities
  • Assist in setting and reviewing inventory movement, inventory accounting and reconciliation of inventory between system and physical

Requirements :
  • Candidate must possess at least a Professional Certificate (LCCI), Diploma in Finance/Accountancy/Banking or equivalent.
  • Required language(s): Bahasa Malaysia, English
  • At least 2 year(s) of working experience in the related field is required for this position.
  • Preferably Junior Executives specializing in Finance - General/Cost Accounting or equivalent.
  • Be able to meet deadlines
  • Be able to work with minimum supervision
  • Be able to show initiative and have a flexible approach
  • Full-Time positions available.
  • 5 days week

Interested candidates are invited to email a comprehensive resume with current and expected salary or apply online :-

Anjur Ekar Sdn Bhd
Lot 12A, Jalan 51A/227,
Section 51A,
46100 Petaling Jaya, Selangor.


Sales Admin Assistant - Syn Tai Hung Trading Sdn Bhd

We are one of the leading building materials distributors in Malaysia. In line with our growing business, we invite dynamic, resourceful and highly motivated individual to join us for a rewarding career in the following position:-

(Based at Penang)

Requirements :
  • Minimum SPM / LCCI or its equivalent
  • Minimum one year working experience, knowledge in accounting field will be an added advantage
  • Positive working attitude and self-motivated
  • Computer literate

Interested candidates are invited to write in with a detailed resume including present and expected salary together with a passport-size photograph (n.r) before 21st November 2010 to: -

No. 270 Lebuh Victoria,
10300 Penang

Tel: 604- 262 9231
Fax: 604-262 8419

Accounts Executive - ACACIA I.T. SERVICES (M) SDN BHD

We are a leading-edge IT company specializing in computer & infrastructure services with clients nationwide. We have grown rapidly over the past years as we strive toward excellence in customer service. Our geographical presence includes direct subsidiaries in Singapore, Malaysia, Thailand & Indonesia.

We are expanding and seeking an experienced individual to fill in the position of:-

  • Handle full sets of accounts (AR, AP & GL)
  • Liaison with internal and external auditors and coordinate with tax agent
  • Maintain internal control and policies
  • Ensure all GL accounts are reconciled and correct
  • Assist in assignments given on ad hoc basis

  • Minimum Diploma / Degree in Accounting or ACCA with at least 3 year’s of relevant experience
  • Meticulous and willing to learn
  • Good spoken and written communication skill in Malay language and English language
  • Able to start work in short notice
  • Applicants must be willing to work in Subang SS14

Interested candidates are invited to email with a detailed resume, stating current and expected salaries to: &

We regret that only shortlisted candidates will be notified.

Account Assistant - Heng Hup Metal Sdn Bhd

In line with our expansion and quest for quality excellence, we are seeking dynamic and career-minded individuals to join our team.

Requirements :
  • Minimum LCCI Higher/Diploma or any accounting equivalent.
  • At least 1-2 year(s) related working experience.
  • Computer literate and familiar with UBS accounting system.
  • Able to converse English & Malay.
  • Positive working attitude.
  • Prefer female candidates.

Benefits include :
  • EPF / SOCSO / Yearly Bonus

Interested candidates are invited to Apply Online or email your detailed resume to:-

Heng Hup Metal Sdn Bhd
264, Jalan 1A, Kampung Baru Subang,
40150, Shah Alam, Selangor.
Tel: 603 - 7845 2292 Fax: 603 - 7845 8937


(Only short listed candidates will be notified)

Friday, 5 November 2010


El Cielito Inn, an established chain of business-oriented hotel is in need of resourceful and result-oriented individuals:

  • Male or Female, not more than 40 years old
  • Must be a Bachelor’s Degree in Accountancy
  • With at least 2 years of working experience in Accounting
  • Familiar with Accounting procedures
  • Must have a high degree of integrity, professionalism, intelligent disposition, detail-oriented, organized and must have a sense of urgency and initiative
  • Must be a resident of Baguio, non-Baguio resident will not be consider

Qualified applicants are invited to submit or e-mail their resume and most recent 2 x 2 picture at:


#50 North Drive, Engineer’s Drive Hills, Baguio City

E-mail: or

Wednesday, 3 November 2010

Graduate Asset Management Associate - AL Human Resources

AL Human Resources is a leading professional recruitment consultancy specialising in the recruitment of permanent,. We are highly experienced in recruitment consultancy and possess specific industry knowledge. Our client is a leading financial institute in Hong Kong needs and are looking to fill the following position.

Job Responsibilities:
  • To analyze clients' financial needs
  • To provide tailor-made financial solutions
  • Provide professional and constructive solutions to the clients
  • Responsible for relationship management with high net worth customers.

  • Sound knowledge of banking and investment products, financial market and economic trends
  • Excellent communication, relationship building and selling skills
  • Fluent in English and/ or Cantonese/ Mandarin/
  • Degree holder or above (Fresh graduates will also be considered)
  • Presentable with good interpersonal skills
  • China students studying in Hong Kong are also welcome

Interested parties, please send email to for further enquiry

Audit Manager / Seniors / Semi-Seniors / Juniors - H. C. Watt & Company Limited

We are an established medium-sized CPA corporate practice in Central, registered with HKICPA as an authorised employer and our audit clients include listed companies. We are looking for high caliber candidates for the following posts:

  • Degree holder with major in Accountancy
  • Members or student members of HKICPA / ACCA or other professional accounting bodies
  • At least 2 years at managerial level with a major CPA firm for Audit Manager. Sound knowledge of Hong Kong profits tax compliance work is an advantage
  • At least 2 years audit experience for Seniors / Semi-Seniors
  • At least 1 year audit experience for Juniors
  • Independent, self-motivated, mature and be able to work under pressure
  • Knowledge in using general computer software
  • Good command of both spoken and written English and Chinese (Cantonese)

To apply, please send your application, full resume with present and expected salary and date of availability by post to:

HR Manager

H. C. Watt & Company Limited

Room 1903, New World Tower

18 Queen's Road Central

Hong Kong

(Data collected will be used for recruitment purpose only).

Assistant Business Manager - Manulife International Limited

With more than a century of service, we have established an outstanding reputation for its comprehensive service, innovative product development and an extensive professional distribution network. Our strength has been built on our vision to be the premier provider of financial protection and wealth management services. Simply put, that means being the best at everything we do because that is what our customers, our shareholders and our communities expect of us. It's also what we expect of ourselves.Manulife Financial trades as ‘MFC’ on the TSX, NYSE and PSE, and under ‘0945’ on the SEHK.

Job Descriptions

We have one of the largest portfolios of corporate clients in MPF market and we are continuously growing the portfolio by developing new relationships with different companies of all sizes.As you grow your customer portfolio you can develop your career and your remuneration potential. Add to this you have opportunity to get promote to Unit Manager within 7 months, you begin the agency management duties to joining one of the Largest financial institutions in Hong Kong.

We are, therefore, constantly creating opportunities in our Agency Management teams in Hong Kong,you will be expected to develop the professional team to maximise the corporate business.Along with this job, it requires a strong awareness of how we develop the customers' strategic business development processes on wealth management, investment strategy, risk management.

We like to attract high caliber personnel preferably in sales, marketing or management filed by providing a salary base as a transitional income establishment.

Eligible Potential Recruit:
  • Form 5 or above, university degree holder or with professional designation
  • With at least 3 years' working experience, preferably in accounting, banking, finance
  • Able to demonstrate a track record of successful achievement in his/her previous occupation
  • People-oriented, result-driven and strong desire to success and build a strong team
  • Mature & possess good interpersonal skill
  • Have a strong desire to succeed and commitment to honesty and integrity

Recruiting Package:
  • HK$15,000 + Commission + Monthly Bonus provided
  • Management Override
  • Year end performance bonus
  • Comprehensive Financial Planning training
  • Group life and Group medical including spouse
  • Overseas Convention
  • Housing subsidy and preferred mortgage rate
  • Fast-Track 7 months Promotion Program + Generous Recruitment Bonus up to $30,000

Interested parties please send your resume to our Branch Manager, Mr. Peter Lee, by e-mail:

Telephone: 6226 8792

Tuesday, 26 October 2010

UPDATE 2-US business urges Pelosi to not push China bill

* Top Democrat says China "not playing by the rules"
* House to hold hearing on China currency in September
* Lawmakers to vote on three manufacturing bills next week (Adds Hoyer quotes, background)
By Doug Palmera(Reuters) - A coalition of U.S. business groups urged House of Representatives Speaker Nancy Pelosi not to include legislation aimed at forcing China to revalue its currency in a pre-election package of bills intended to help U.S. manufacturers.
"We agree that China needs an exchange rate that better responds to global trade flows ... We strongly disagree that legislation is the best means to achieve that goal," the U.S.-China Business Council and about two dozen other business groups said in a letter released on Friday.
House Democrats, in the run-up to the congressional elections in November, have started touting a "Make it in America" agenda aimed at boosting manufacturing jobs.
Bowing to pressure for action on China's currency, which many lawmakers believe is unfairly undervalued against the dollar by 25 percent to 40 percent, the House Ways and Means Trade Committee will hold a hearing on possible legislative options when lawmakers return the week of Sept. 12 from a six-week recess that begins July 31.

"We're prepared to compete with anybody in the world but, we can't compete when the rules are skewed against us and that is what the hearing will address ... We frankly think there are a number of areas in which China is not playing by the rules," House Majority Leader Steny Hoyer told reporters.
Representative Tim Ryan, an Ohio Democrat, is expected to testify at the September hearing on a bipartisan bill he has crafted with Representative Tim Murphy, a Pennsylvania Republican, which has 130 co-sponsors in the House.
It would require the Commerce Department to apply countervailing or anti-dumping duties against countries that are found by the U.S. government to have a fundamentally undervalued exchange rate against the U.S. dollar.
It is similar to a bipartisan bill backed by Senator Charles Schumer of New York and others in the Senate.
"China is unlikely to proceed more quickly with currency reforms if threatened with this action," the business groups said in their letter to Pelosi and Hoyer.
Rather than accomplish its goal of helping U.S. manufacturers, the Ryan-Murphy bill would "likely result in the loss of jobs and market share in many competitive U.S. agricultural, manufacturing and service industries that either operate in or export to China," the groups said.
However, many U.S. steel, textile and other import-sensitive manufacturers say the legislation would help keep jobs in the United States.
The House will vote on three bills next week as part of its manufacturing agenda.
One would require the White House to develop and update a manufacturing strategy every four years.
A second would bar President Barack Obama from submitting any free trade agreement to Congress until a commission established by the bill makes recommendations for cutting the U.S. trade deficit and Congress has held hearings on the ideas.
The third would create a $15 million fund to support the development of a National Clean Energy Export Strategy and provide export assistance to clean energy companies.

Friday, 22 October 2010

Senior Executive / Executive-Internal Audit - The Lion Group

We are an established group of companies with diversified business interests in Malaysia and the Region. We provide you with a challenging environment to grow and progress in your career. Opportunities for advancement are excellent for those who excel in their performance. We are now seeking dynamic and highly motivated individuals to apply for the following position:-

Job Description:
  • Plan and execute audit assignments within the Group.
  • Document and report audit issues via a systematic approach to evaluate and improve the effectiveness of risk management, control and governance processes.

Job Requirements:
  • Degree in Accounting, Finance or Business Management or equivalent professional accounting qualification;
  • Member of MIA or IIAM would be an added advantage;
  • Minimum 2-5 years’ operational auditing experience with in-depth knowledge of accounting and auditing standards;
  • Exposure to corporate risk management system;
  • A team player with strong work ethics, high level of professional integrity, maturity, independence and excellent analytical skill; and
  • Good communication & interpersonal skills.

Interested candidates are invited to apply online, email to or write-in, enclosing a comprehensive resume stating educational qualifications, working experience, current and expected salary, contact details ( telephone number and email address ) together with a recent passport-sized photograph ( non-returnable ) to the address below:

The Lion Group
Head Office Human Resources Division
Level 12, Office Tower, No. 1 Jalan Nagasari ( Off Jalan Raja Chulan ),
50200 Kuala Lumpur.

( Only short-listed candidates will be notified )

Cost Accountant – 1 position (Selangor - Banting) - Megasteel Sdn Bhd

MEGASTEEL SDN BHD a multi-billion dollar steel coils manufacturer with state of the art processes, technology and machinery is looking for competent and committed individual to complement our existing talented and dynamic team in our Steel Complex in BANTING, Selangor as:-


Responsibilities :
  • Responsible for performing cost accounting duties and analysis, management reporting cost and capital budgeting
  • Prepare and analyses monthly inventory report, assist in inventory control and coordinate annual stock take
  • Support daily costing and month end closing activities
  • Responsible for product costing analysis
  • Prepare and analyses month factory overheads
  • Assist in the preparation of yearly manufacturing budget

Requirements :
  • Professional Accounting Qualification/Diploma Holders
  • Minimum 5 year(s) of post qualifying working experience, preferably in a manufacturing environment
  • Ability to work independently,resourceful,good analytical ability and strong practical knowledge in areas of management accounting and costing
  • Good team player
  • Full-Time positions available
  • Willing to work in Banting

We offer an attractive remuneration package commensurate with your qualification and experience. Interested applicants are invited to apply online or submit their detailed resume to the following address:

LOT 2319 Kawasan Perindustrian Olak Lempit
Mukim Tanjung Dua Belas 42700 Banting Selangor.
Tel: 03-31818866 / 6666 / 31822000 (Ext.2120)
Fax: 03-31816921


Admin Cum Accounts Assistant / Executive - PP Ventures Sdn Bhd

PP Ventures Sdn Bhd is in Information Communications Technology industries. We are now hiring a dynamic and proactive candidate who can deliver maximum work effort.

We wish to invite enthusiastic / qualified candidates to join us for the following position:

Responsibilities :
  • Provide office and sales support services in order to ensure efficiency and effectiveness within the PP Venture Office
  • Answer all incoming calls and handle caller’s inquiries whenever possible
  • Re-direct calls as appropriate and take adequate messages when required
  • Greet, assist and/or direct customers, visitors and the general public
  • Assist in the planning and preparation of meetings, conferences and conference telephone calls
  • Make preparations for all meetings in PP Ventures
  • Receive, direct and relay telephone messages and fax messages
  • Pick up and deliver the mail
  • Open and date stamp all general correspondence
  • Maintain the general filing system and file all correspondence
  • Respond to public inquiries
  • Provide word-processing and secretarial support, if any
  • Perform clerical duties in order to maintain PP Ventures administration
  • Prepare payment vouchers to vendors and other payees.
  • Preparing simple cash book and petty cash statement.
  • Preparing expenses claim for Directors
  • Perform other related duties as required.

Requirements :
  • SPM or Any Diploma or equivalent
  • Min 1 year working experience in related field
  • Able to communicate in English and BM
  • Able to work independently with minimum supervision
  • Preferably with knowledge of some basic accounting and computer literate
  • Fresh graduates are encouraged to apply
  • Pleasant personality, possess good interpersonal & communication skills

Interested candidates, kindly apply online with your detail resume.

PP Ventures Sdn Bhd (858923-A)
Lot 7.13, Level 7, 1 Tech Park,
Tanjung Bandar Utama, Bandar Utama,
47800 Petaling Jaya,
Selangor Darul Ehsan


(Only short listed candidates will be notified)

Admin / Account Executive - Infinity Financial Solutions Ltd

Infinity Financial Solutions Ltd is an offshore insurance broker registered in Labuan, Malaysia. Due to our rapid business expansion we now seek a capable and performance driven individual to join us in our Kuala Lumpur office.

Responsibilities :
Administrative duties related to expense claims, preparing commission reports, maintaining banking and accounts records as well as preparing business performance reports.

Requirements :
  • Must like working with numbers and be numerically capable. A basic understanding of accounting may be an advantage.
  • Microsoft Word and Excel knowledge is essential
  • Good command of English
  • Efficiency under pressure to meet the tight deadlines
  • Self motivation, hardworking and willing to learn
  • Minimum supervision

Interested applicants are invited to email with detailed resume stating qualification, experience, and current/expected salary and enclose a recent passport size photo to

(Only short listed candidates will be notified)

Wednesday, 20 October 2010

Mexico's largest pot bust likely hit Sinaloa gang

MEXICO CITY – Mexico's largest-ever seizure of marijuana packaged for sale is even bigger than the original estimate of 105 tons and probably belonged to the country's most powerful drug-trafficking cartel, authorities said Tuesday.
The Sinaloa cartel run by Mexico's most wanted fugitive, Joaquin "El Chapo" Guzman, now is moving drugs through the Tijuana corridor "unimpeded," said a U.S. law enforcement official in Mexico, a possible reason why violence has dropped in the city across the border from San Diego, California, since a bloody peak in 2008.
President Felipe Calderon recently praised the city's new calm as a success story in Mexico's drug war.
Many have speculated the drop in violence just means the Sinaloa cartel has cut a deal with remnants of the Arrellano Felix gang, which became one of the country's dominant cartels in the 1990s through control of Tijuana's lucrative land and sea routes leading into California, but has suffered from the arrests and deaths of its top leaders since 2002.
Calderon dismissed the idea of an arrangement in a recent interview with The Associated Press, saying the new calm came in part from government cooperation and the arrests of key cartel leaders.
"The truth is that in the last two years, the government has made important hits on the criminal structures," he told the AP.
But the U.S. official said it was a possibility.
"There could be a pact. We don't know for certain if there is one, what that pact would be. But Sinaloa has been able to operate there unimpeded by other cartels," said the official, who spoke on condition of anonymity for security reasons.
Mexican soldiers and police grabbed the U.S.-bound marijuana in pre-dawn raids Monday in three neighborhoods when 11 people arrested after a shootout led authorities to the drugs.

Army officials first said the drugs weighed 105 tons and had an estimated street value of 4.2 billion pesos, about $340 million. But authorities said the haul was even bigger Tuesday, counting 15,300 packages — 5,000 more than first announced. It weighed 134.2 tons, said Ramon Gomez, a spokesman for the federal Attorney General's office.
By comparison, U.S. authorities seized a total of 123 tons of marijuana during 2009 at all San Diego-area border crossings.
Calderon's security spokesman, Alejandro Poire, agreed the drugs likely belonged to Sinaloa and called it a historic seizure.
"This is an important milestone that demonstrates the ability of the Mexican state when security forces in three levels of government coordinate and take responsibility around a common goal," he said.
But the bust indicates what U.S. Department of Justice figures already show — that marijuana cultivation is up in Mexico since 2005, more than doubling to 21.5 million metric tons in 2008. Marijuana seizures on the U.S. side of the border also have increased from about 1,000 to 1,500 metric tons between 2005 and 2009.
A U.S. State Department report said the decline comes as Mexican security forces focus more harder drugs such as methamphetamines — but also on fighting and arresting the traffickers.
"With the Mexican military changing its role and more actively going after organized crime groups, it could have affected that, stopped crop eradication," the U.S. official said.
Poire denied the Calderon government has backed off of seizures and eradication, saying they are up over the first four years of the previous administration by 100 tons.
"This administration has maintained an important effort in the eradication and confiscation of illicit substances," he said.
The drugs were found stored in tractor trailers and houses wrapped in different colors and labeled with apparently coded phrases and pictures that included the cartoon character Homer Simpson. They appeared to make up a major distribution center traced directly to Guzman, who has expanded the reach of his cartel along the U.S.-Mexico border since escaping from prison in 2001.
The Sinaloa cartel controls distribution in neighboring Sonora state and the city of Mexicali, only 120 miles east of Tijuana. It also controls areas to the east and is warring for control of the border city of Cuidad Juarez, across from El Paso, Texas.

Sunday, 10 October 2010


A well established company engaged in general construction and other allied business such as constructing, developing and finishing works on major establishment and/or infrastructures URGENTLY needs high caliber and dynamic people to fill in the following key positions:

Duties and Responsibilities

Responsible for preparing financial statements. Assist in all phases of accounting-account management and reconciliation, collection process, sales report, inventory and administrative work as directed by the immediate superior

  • Male/ Female, graduate of Accountancy, Management and /or Financial Accounting,
  • Not more than 35 year old
  • Well versed in accounting/auditing principles, willing to do field work and night shift schedule, must be computer literate and with good communication skills
  • Willing to be assigned in designated branches if needed
  • For FINANCE OFFICER(S) position applicants must be a CPA

We encourage all qualified candidates to please come in person together with an updated resume and a copy of TOR to:


259 Mc Arthur Highway, Karuhatan, Valenzuela City beside BPI Valenzuela Branch across Macro LPG Gas Station

Telefax Number 293-5681 to 83

Email add:

Accounting / Audit Staff - Celine Marketing Corporation

Celine Group of Companies' vision is to be a retail company admired for delighting customers, developing people, contributing to society and sustaining the business.


We are passionate and responsible
  • We are stewards who take full responsibility for our work
  • We are service-oriented with a can-do & will-do attitude
  • We are proactive and results-oriented

We strive for excellence
• We are focused and disciplined to always do our best
• We are organized and we manage our time well
• We are careful and detail-oriented

We are a cut above the rest
• We keep ahead in our areas of expertise
• We are sharp, creative, and independent thinkers
• We are articulate; we speak and write well

We are committed to developing our people
• We constantly seek to improve and are not afraid to ask for help
• We go out of our way to help develop others
• We take and give feedback professionally

We are upright and presentable
• We are people of character and integrity
• We are emotionally-stable, family-oriented and socially responsible
• We project a positive image in confidence, health and appearance

We enjoy working with each other
• We are friendly, cheerful, and sometimes funny
• We respect each other and do not put anyone down
• We delight and share in each others’ sucesses and challenges

  • Male or Female, not over 26 years old
  • Graduate of BS Accountancy and related course
  • Candidate must possess at least a Bachelor's/College Degree, Finance/Accountancy/Banking or equivalent
  • Must be reliable, highly analytical and possess a high sense of confidentiality
  • With good interpersonal skills
  • Required language(s): English, Filipino
  • At least 1 year(s) of working experience in the related field is required for this position
  • Applicants must be willing to work in Pasig City
  • Preferably 1-4 Yrs Experienced Employees specializing in Finance - Audit/Taxation or equivalent
  • 5 Full-Time positions available

Preference will be given to candidates who apply ONLINE

You may also send your resumes at or


A Multi-National Logistics Company is in need of the following top caliber professionals:

  • Accounting Graduate/ business course
  • With at least 2 years work experience in billing, credit & collection
  • Well versed in Microsoft Excel, Word & PowerPoint
  • With at least one year work experience in a computerized accounting environment
  • Should be detailed oriented, diligent, conscientious, committed & honest
  • Can communicate effectively, both verbal and written
  • Willing to be trained to handle SAP AR module

Interested applicants may send their application letter and comprehensive resume with latest 2x2 picture to the following: 6th Flr. TM Kalaw Center, 667 TM Kalaw, Ermita Manila 

or email it to

Friday, 17 September 2010

Why Nokia can't crack the U.S. market

NEW YORK ( -- Like soccer and small cars, Nokia is popular everywhere in the world except the United States.

Though that near-global popularity has made the company the clear No. 1 handset maker in the world, the tide has shifted, and Nokia is struggling to keep up with the pace of innovation set by Apple (AAPL, Fortune 500) and a number of Android smartphone manufacturers.

Nokia's market share has slipped to 35% this year, according to IDC. That's down from 48% in 2006, the year before Apple unveiled the iPhone. But Nokia's overall performance is significantly better than its showing here in America. Nokia phones make up just 7.8% of the U.S. handset market, according to comScore, far behind leaders Samsung, LG and Motorola (MOT, Fortune 500).

Nokia's rapidly declining market share and absence of visibility in the United States have led investors to send shares of Nokia (NOK) tumbling 75% since its peak in the fall of 2007.

Those factors combined to create a crisis of confidence at the Finnish company. Days before unveiling its new smartphone lineup, Nokia decided last week to oust its CEO and name a North American replacement: Microsoft's Stephen Elop.
"The appointment of an executive from an American company to the CEO post at Nokia is a good indication of the company's renewed focus on the U.S. market," said Dan Hays, partner at consulting firm PRTM. "One of the core issues for Nokia is the United States."

America is a country that Nokia has historically been unable to play nice with. Unlike wireless providers abroad, carriers here like to exercise some control over the look and feel of the devices running on their networks. Other device manufacturers are willing to collaborate, but Nokia has been unwavering in its insistence on having complete control over both the hardware and software of its phones, Hays said.

Some analysts remain skeptical that much will change, even with the new leadership.

"We always hear from Nokia, 'The U.S. is important to us and we're adjusting our strategy,' but it has never worked," said Ramon Lamas, analyst at IDC. "Hiring Elop doesn't necessarily equate to a renewed North America focus."
Still, the infusion of new blood means just about anything at Nokia is fair game. Struggling in all of its key areas, Nokia needs to take a hard look at each of its strategies and product road maps.

That could mean taking a page from America's playbook and ditching Nokia's own proprietary operating systems, Symbian and MeeGo, for Google's (GOOG, Fortune 500) Android.

Android has a number of advantages, not least of which is the fact that it's free for manufacturers to license. Nokia has devoted tremendous time and resources to improving its Symbian software, and it launched a high-profile partnership with Intel (INTC, Fortune 500) to create a second, separate operating system called MeeGo for high-end phones.

By embracing Google's Android operating system, Nokia could follow in the footsteps of Motorola, which struggled to make a winning device to replace its top-selling RAZR until it ultimately adopted Android for its Droid smartphone.
But analysts think that moving to Android is almost entirely out of the question for Nokia. The yet-to-be-released MeeGo has a growing wave of developer support and momentum behind it, and Symbian remains popular among its users.
Plus, ditching its proprietary software would leave Nokia scrambling to stand out in a crowded field.

"Nokia is the market leader, and as such it cannot do what everyone else does," said Carolina Milanesi, analyst at Gartner. "Nokia has spent too much money and resources to get to where it is today."

For all those resources, the most crucial issue facing Nokia is that its phones just aren't all that great. Nokia is way behind its rivals on innovations like touch screens, thin materials, and design. If Nokia was satisfied with its phone lineup, why would it overshadow the much-hyped N8's unveiling with a management shakeup?

The real lesson Nokia should learn from America, say some in the industry, is that it needs to make its phones high-quality vessels for great applications. That's what ultimately made the iPhone take off, and that's what's fueling the Android surge as well.

"Nokia certainly doesn't need North America to survive or even thrive, as the real growth is being generated in emerging markets where Nokia's brand remains strong," said Andy Castonguay, analyst at Yankee Group. "But if it could harness some of the innovation being generated by U.S. app developers, together with a sharp portfolio of smartphones and a more dynamic OS, Nokia can still turn it around."

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What happened to Europe's collapse?

FORTUNE -- Sherlock Holmes said it best. In Arthur Conan Doyle's classic story "Silver Blaze," about the disappearance of a champion racehorse, there is an exchange between a Scotland Yard detective and Holmes:

"Is there any point to which you would wish to draw my attention?" asks the detective.

"To the curious incident of the dog in the night-time," replies Holmes.
"The dog did nothing in the night-time," says the detective.
"That," says Holmes, "was the curious incident."

Europe, this summer, has been curiously full of dogs doing nothing. Just a few months ago, in the wake of Greece's sovereign-debt crisis and the long, muddled response to it by European political leaders, it was common to hear dire predictions about Europe's economic prospects. Pundits declared that the euro -- the currency shared by 16 countries -- was fundamentally flawed; economies that differed widely in competitiveness could not indefinitely have a common monetary policy when they neither shared a common labor market nor kept to agreed-upon rules on fiscal policy.

The euro was bound to continue its recent fall against the dollar. Europe's highly indebted economies -- the famous PIIGS, or Portugal, Ireland, Italy, Greece, and Spain -- could satisfy the bond markets only if they made drastic budget cuts and reformed their sclerotic labor markets, which in turn would lead to massive public resistance and political crises.

Yet here we are, as the evenings lengthen, and ... no dog has barked. The euro has been strengthening against the dollar. Europe's political commitment to the single currency remains as strong as ever. There has been remarkably little labor unrest in Greece since the spring, nor in Spain, where the government adopted a tough austerity package that included wage cuts for public servants. In Britain the new coalition government has set out radical proposals for tax increases and expenditure cuts designed to shrink the public deficit from 11% of GDP now to 2.1% in 2014-15. Yet Prime Minister David Cameron remains popular, with Britons willing, it seems, to happily trade a silk jacket for a hair shirt.

There is, of course, an easy explanation for the apparent acquiescence in European public opinion: summer! Europeans had the World Cup to enjoy in June and July, and always have better things to do in August than hold protest marches against austerity. Now that everyone's back from the beach, we'll see the political backlash, right?

I'm inclined to think not. The truth is that the European economies are doing better than expected. Everyone knows about Germany's stellar performance this year, with an unemployment rate now lower than it was in summer 2008 (in the U.S. it is 3.5 percentage points higher), while growth in the second quarter was the best quarterly figure for 20 years.

But there are some bright spots in Europe's peripheral economies too. Consider Ireland. Given troubled banks, a debt downgrade, and high unemployment -- the July rate of 13.7% was the worst since 1994 -- you might think there was no good news there. But Barry O'Leary, chief executive of IDA Ireland, the nation's investment agency, says that there has been a significant "repricing of the economy" since the Great Recession bit. In 2009, Irish public sector pay was cut as an austerity measure, and O'Leary says private sector salaries have followed suit, with reductions of 10% to 15%.

The IDA is now once again seeing investors who want to develop manufacturing capabilities in Ireland, the sort of labor-intensive operations that had lately seemed destined to always go Asia's way.

I don't want to sound as if my brain's been addled by too much time on a sun-kissed Greek beach. (I wish.) It's the easiest thing in the world to trot out the challenges that face Europe over the coming decades: aging populations and inflexible labor markets; the need for the German export powerhouse to expand domestic demand; distinct national consumer preferences and regulatory regimes that stop companies from taking good ideas to a global scale -- that list has been the same for 20 years. And so has this truth: Europe remains the world's most populous area of widely distributed prosperity, long life, and good health. They're doing something right over there. Long may the dogs not bark!

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Consumer bureau: More disclosure, fewer hidden fees

WASHINGTON ( -- With Elizabeth Warren as an adviser, the new Consumer Financial Protection Bureau is officially en route to becoming a tough new regulatory body on behalf of consumers.

The set-up process is expected to take 10 months, with an official launch date of July 21, 2011, according to the Treasury Department.

What can consumers ultimately expect? More disclosures and fewer hidden fees.
"The time for hiding tricks and traps in the fine print is over," Warren said on the White House Website.

The Consumer Financial Protection Bureau was the signature piece of the Wall Street reform bill that Congress passed and the president signed into law in July.
The new regulatory bureau will be independent. It will have the power to create rules curbing unfair practices in mortgages, credit cards and a plethora of consumer loans issued by banks and payday lenders, private student loan lenders and check cashing companies.

"Financial innovation has not resulted in simpler, better products, it's resulted in more complicated products," says Ed Mierzwinski, consumer program director for the U.S. Public Interest Research Group. "Consumers are going to know that there's someone who's got their back and help them wade through the financial morass."

Obama names Warren as special adviser
The agency has already hired 36 staffers and has a hearing scheduled Tuesday, soliciting expert opinion on creating a simplified mortgage disclosure firm, which the new law requires, said Treasury spokesman Steven Adamske.
Here are some of the things that the bureau is slated to tackle when it gets set up.

Simpler mortgage disclosure forms: The new law requires the agency to set up a standard type of mortgage disclosure form. Lenders won't be required to offer the form, but they may have incentives to use the simpler forms.

Overdraft fees: The regulator will have the power to craft new rules that would make it clear what kinds of fees banks can and can't slap on consumers who overdraw their accounts.

Credit scores: All consumers have been able to get one free credit report a year from the credit rating agencies. But the law allows a consumer to get an actual credit score along with a report, and the agency will oversee that.

Ban on 'liar loans': The regulator would be charged with ensuring lenders are documenting borrowers' income before originating a mortgage and verify a borrower's ability to repay the loan.

Pre-payment penalty fees: The law requires the consumer bureau to crack down on penalty fees consumers often face when they pay off mortgages early.

Mandatory arbitration contracts: Many mortgages, credit cards, gift cards and auto loans force the buyer and seller to hash out disputes before a neutral party called an arbitration panel. These arbitration contracts prevent disputes from going to court, with an eye toward forcing parties to work things out and cut down on lawsuits. The act directs the agency to study the contracts while giving it power to ban them as well.

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Thursday, 16 September 2010

Gold hits record high ... again

NEW YORK ( -- Gold prices surged to new record highs on Thursday, continuing a rally started earlier in the week.

Gold futures for December delivery rose $5.10 to close at a record high of $1,273.80 an ounce in New York. That topped the previous all-time high closing price of $1,271.70, which came on Tuesday. Earlier in the day, contracts were trading even higher, at $1,279.50 an ounce.

Typically seen as a safe haven, gold is the ultimate currency for many investors. It involves the lowest risk because it is a tangible asset, and shows the highest upward price potential during times of stock and currency volatility.

Uncertain financial markets, weak economic conditions and the stressful political conditions of the mid-term elections are the main causes for rising prices, said Carlos Sanchez, a precious metals analyst with CPM Group.

And today's record might just be the beginning, with no sign of any of these worries easing up. Sanchez said gold prices will likely keep rising through the first quarter of next year. "The next level is $1,300 -- possibly by the end of this month. And I would not be surprised if it heads up to $1,400 by the end of this year."

Additionally, with the flood of U.S. dollars in the market and serious concerns over European countries' ability to back up debt obligations -- not only investors, but countries such as China, Russia and Egypt are buying gold.

While gold prices hit a record on Thursday, they were still a far cry from their real peak, as measured in dollars adjusted for inflation.

Gold hit its summit on Jan. 21, 1980, when it peaked at $825.50 an ounce -- in 1980 dollars. That translates to an all-time peak of $2,184.08 an ounce in 2010 dollars.
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Hurd: 'No company better positioned than Oracle'

NEW YORK ( -- Mark Hurd, Oracle's new co-president, praised Oracle's strong first-quarter financial performance on Thursday and forecast a very bright future for his new employer.

"I see clear growth opportunities going forward," Hurd said on a conference call with analysts, one of his first public appearances on Oracle's behalf. "There is no other company in the industry better positioned than Oracle. There is no one else in the market with the software and hardware assets that can match Oracle."

Hurd, who was hired last Monday, kept things light and on-message during the call, steering clear of the controversy that has engulfed his short tenure at HP's competitor. HP (HPQ, Fortune 500) is suing Hurd for breach of contract, and IBM (IBM, Fortune 500) CEO Sam Palmisano criticized Hurd this week for slashing research and development spending while heading HP.
The only sparks on the call came from Oracle CEO Larry Ellison, who tore into archrival SAP for its "colossal mistake" in daring to challenge Oracle's software strategy.

"Fusion will be redone 100% in Java," Ellison said, referring to Oracle's new software platform. "SAP is going to compete with us using their 25-year old technology. Good luck."

Oracle reported strong, double-digit sales and profit growth in its first-quarter, on the back of rising demand for business software and servers.
New software license sales rose 25% and license updates rose 12%, a signal of robust demand for Oracle's products.
"I've been doing this a long time," Hurd said. "Twenty-five percent license growth is a big number."

Oracle Co-President Safra Catz called the license renewals "frankly outstanding.
Though Oracle is known for its business software products, the company's executives and analysts spent the majority of the call focusing on the company's integration of Sun Microsystems, which is predominantly a server maker. Oracle completed the $7.4 billion Sun purchase in January.

Ellison noted that analysts and investors have expressed a lot of concern about Oracle going into the hardware business, so he recapped the company's achievements so far and outlined plans for the future.

Oracle has already made Sun profitable by discontinuing sales of products that weren't making money, and by streamlining Sun's operations, he said. As an example, Ellison pointed to Oracle's reduction in the number of Sun's contract manufacturers.

"To quote one of our great presidents, 'Mission accomplished,'" Ellison said. "We think it's going to become more profitable over the fiscal year."
The brash CEO also set ambitious goals for Sun. Oracle thinks it can double the size of its hardware business. Next week, at Oracle's OpenWorld conference, the company plans to announce new high-end systems that combine Sun's hardware with Oracle's software offerings.

By the numbers
Oracle had a very solid financial performance in quarter ended Aug. 31. Net income rose to $1.4 billion, or 27 cents per share, up 20% from a year earlier.
Results included one-time charges totaling 15 cents per share. Without the charges, Oracle said it earned 42 cents per share. Analysts polled by Thomson Reuters, who typically exclude one-time items from their estimates, forecasted earnings of 37 cents per share.

Sales for the Redwood City, Calif.-based company rose 48% to $7.5 billion, topping analysts' forecasts of $7.3 billion.

For the current quarter, Oracle said it expects sales to increase by 43% to 47% and earnings per share of between 45 cents 47 cents, excluding one-time benefits or charges.
Shares of Oracle (ORCL, Fortune 500) rose 4% after hours. The company's stock has been on a tear lately, rising 11% since Hurd came on board
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