Fresa y chocolate Essay Example | Topics and Well Written Essays - 1750 words

Fresa y chocolate - Essay Example These issues are increasingly important in this age of human relationship varieties and politics influence on these relationships. The purpose of this paper is to show Cuban society and its contradictions according to the film, as well as the politics and its reflection in people's characters and actions. The paper will also pay particular attention to the director's aim of the film and the importance of the film from the point of view of the historical period concerned. 2. The film presents colourful description of Cuban society under Fidel Castro's rule, and the plot of the film Fresa y chocolate is tightly connected with life conditions and cultural contradictions of Cuban society. The film tells the story of two young men each of whom had different cultural outlook, although they both supported political regime. Diego was a gay artist, but homosexual life was forbidden in Cuba. Otherwise, David studied sociology in Havana and was a true communist. The film shows social life in Cuba and its ethical and cultural features which influenced the flow of the film and main characters' actions. The both protagonists of the film present two different sides of social ethics: the way of life of communist ideology supporters, and that of people who don't put down in ethical limits of socialist state. As was mentioned above, Daniel studied sociology, and he was a true communist supporter and a member of communist youth brigades. Diego followed another style o f life: he was an artist who saw his mission in Cuban culture promotion. So, any link between these two young men seems to be rather strange, but in spite of this fact they became real friends: "Diego is gay, religious and a nationalist, while David is straight, an atheist and a communist. Their relationship is flawed, in addition, by jealousies, both mutual and contextual (Santi, 2001)". The name of the film, Fresa y chocolate, is rather symbolic in this context: David and Diego met in a caf, David took chocolate while Diego did strawberry ice cream that was surprising to David, but Diego underlined that some people prefer chocolate while others prefer strawberry. This scene symbolically shows the protagonists' membership to different and contradictory sides of political, cultural and ethical sides of Cuban society. The film doesn't deny socialist ideology in Cuba, but there is a clear notion of variety of ethical and sexual life in post revolution Cuban society. It needs to take i nto account that Castro's regime didn't support such social and ethical phenomenon as homosexuality, and in 1965 he told that "we would never come to believe that a homosexual could embody the conditions and requirements of conduct that would enable us to consider him a true Revolutionary, a true Communist militant. A deviation of that nature clashes with the concept we have of what a militant Communist must be (West, 1995)". Diego feels real affectation to David, but his feeling cannot be accepted by his friend in that time in Cuba that is reflected in the film: it was just unrealizable desire which contradicted the system of the state. David who was heterosexual is shown as an opposite protagonist: he had relationship with women and wanted to be a

The value of the Sime Darby Brand

The value of the Sime Darby Brand Founded in 1910, now Sime Darby (Holding Company-Divers) is ranked at 9 in 50 most valuable brands in Malaysia. Sime Darby Berhad Malaysia is leading Oil and Gas Services is fully innovative and productive company leading in Malaysia. Sime Darby Berhad consists of several components of business units such as plantation, property, industrial, motors, energy and utilities and healthcare as well. The main vision of the company is we are building our tomorrows, today (www.simedarby.com). The Sime Darby in 1910 got the name from two European business partners by name; William Sime and Henry Darby. William Sime, a traveler and adventurer from Scotland, ventured to Malaysia when he was in his late 30s. Sime Darby Berhad is the largest conglomerate in Malaysia and one of the largest in Southeast Asia . Within its territory are more than 270 operating companies in 23 countries, while foreign operations in Hong Kong of which account for 25% of revenues, Singapore (14 %), and Australia (11%). The company generates 38 percent of its revenues domestically. Its broadly diversified activities include a wide range of industries, with the core businesses being plantations including oil palm and the companys original business, rubber, tire manufacturing, heavy equipment and motor vehicle distribution, property development, power generation, and engineering services. Natural rubber synthetic rubber was still being developed and had just been introduced to the country from Brazil. Sime and other entrepreneurs at the time recognized that the climate of Malaysias jungle region was similar to that of Brazils. Therefore, rubber could just as easily be grown in that country and sold not only in Malaysia but throughout Southeast Asia and the world. However, Sime Darby encountered opposition to its venture from locals, who were wary of outsiders coming in to operate a plantation in Malacca, in order to overcome this, Sime and Darby forged friendships with several members of the Chinese business community. The company expanded, becoming a manager for owners of other plantations and then moving into the trading end of the industry. Sime set up a branch office in Singapore in 1915 and shortly thereafter established a marketing office in London. Demand for rubber eventually outstripped Sime Darbys production capacity, and by the late 1920s the company found it necessary to clear more jungle. To do so, Sime Darby purchased Sarawak Trading Company in 1929. Sarawak (later renamed Tractors Malaysia) held the franchise for Caterpillar heavy earthmoving equipment. That important purchase signaled Sime Darbys expansion into the heavy equipment business, which would eventually become a major component of its expansive network. In 1936 the companys head office was relocated from Malacca to Singapore. Sime Darby made a fortune in the global rubber industry during the 1920s and 1930s. Growth in the industry began to fade, however, as natural rubber was gradually supplanted by synthetic rubber. Sales of natural rubber boomed during World War II as warring nations purchased all available supplies. The war, however, also led to significant advancements in synthetic rubber technology. A good deal of it was used to acquire other companies, thereby expanding Sime Darbys reach into several other industries. Much of Sime Darbys success during that period was attributable to its acquisition of the giant Seafield Estate in 1971 and the establishment of Consolidated Plantations Berhad that same year. Through Consolidated Plantations, which became the companys main plantation subsidiary, Sime Darby became a leading force in the regions thriving agricultural sector. In addition to growing the oil palms and cocoa, the company began processing the crops into finished products for sale throughout the world. As its sales and profits spiraled upward during the early and mid-1970s, Sime Darby became a shiny feather in Britains cap. To the surprise and chagrin of the British stockholders, however, the company was wrested from their control by the Malaysian government late in 1976. The intriguing events leading up to the takeover began in the early 1970s. During that time, Sime Darbys chief executive, Denis Pinder, began investing the companys cash in new subsidiaries throughout the world. The companys stock price soared as Sime Darbys sales spiraled upward. At the same time, some observers charged that Sime Darby was engaged in corrupt business practices (with critics coining the phrase Slime Darby). Allegations of corruption were confirmed in the eyes of some detractors when, in 1973, Darbys outside auditor was found stabbed to death in his bathtub. The Singapore police ruled the death a suicide, but Pinder still ended up in prison on misdemeanor charges. Pinders successor took up where he left off, investing in numerous ventures, most of which were located in Europe. Unfortunately, many of those investments quickly soured. Some Malaysians felt that Sime Darby was taking profits from its successful domestic operations and investing them unwisely overseas. So, in 1976 the Malaysian government trading office bought up Sime Darby shares on the London stock exchange. It effectively gained control of the company and installed a board made up mostly of Asians. Also in 1976, Asian and British board members were able to agree that Tun Tan Chen Locks son, Tun Tan Siew Sin, would be an acceptable replacement as chairman of Sime Darbys board. In 1978 Sime Darby was reincorporated in Malaysia as Sime Darby Berhad. Its headquarters was moved to Kuala Lumpur the following year. Staggering in the Early 1980s; Rebounding in the Late 1980s and Early 1990s Sime Darby jettisoned some of its poorly performing assets during the late 1970s and early 1980s under Locks leadership. But it also continued investing in new ventures. It purchased the tire-making operations of B.F. Goodrich Philippines in 1981, for example, and secured the franchise rights to sell Apple Computers in southeast Asia in 1982. The addition of B.F. Goodrich Philippines marked the companys entrance into the tire manufacturing sector; also in 1981 came the establishment of Sime Darby International Tire Company, which in 1988 was renamed Sime Darby Pilipinas, Inc. In 1984 the company purchased a large stake in a Malaysian real estate development company, United Estates Berhad, and used it to begin developing plantation lands. This company later was renamed Sime UEP Properties Berhad. In Malaysia, Sime Darby acquired the franchises for BMW, Ford, and Land Rover vehicles. By the early 1980s Sime Darbys push to diversify had given it a place in almost every industry, from agricultural and manufacturing to finance and real estate. Although it did diversify into heavy equipment, real estate, and insurance businesses, new management also plowed significant amounts of cash into the companys traditional commodity and plantation operations. Sime Darby became a favorite of investors looking for a safe bet. Indeed, the mammoth enterprise tended to minimize risks after the investment mistakes of the early 1970s and seemed content to operate as a slow-growth multinational behemoth that could withstand any market downturns. Even if something did go wrong, the company had a war chest of nearly a half billion U.S. dollars from which it could draw. Unfortunately, Sime Darbys staid strategy negatively impacted its bottom line. Sales dipped to M $2.78 billion in 1992 before plunging to M$2.17 billion in 1983. Sime Darby lumbered through the mid-1980s with annual sales of less than M$2.5 billion, and net income skidded from about M$100 million in the early 1980s to a low M$59 million in 1987. To turn things around, Sime Darbys board promoted Tunku Ahmad Yahaya to chief executive. Ahmad was a veteran of the companys executive ranks and was a favorite nephew of Malaysias first prime minister, Tunku Abdul Rahman. Under Ahmads direction, the giant corporation began a slow turnaround. Significantly, Ahmad was instrumental in luring Tun Ismail to Sime Darbys board. Ismail was a highly influential central bank governor and the chairman of Sime Darbys biggest shareholder. Ismail became nonexecutive chairman of the company following the death of Tun Tan Siew Sin in 1988. During the late 1980s and early 1990s Ahmad invested much of Sime Darbys cash hoard into a bevy of new companies and ventures. Sime became a relatively big player in the global reinsurance business, for example, and tried to boost its activities related to heavy equipment and vehicle manufacturing. Most notably, Sime began pouring millions of dollars into property and tourism in key growth areas of Malaysia in an effort to get in on the development and tourism boom that began in that nation in the late 1980s. The success of that division prompted the company to invest as well in tourism overseas. Through its UEP subsidiary, for instance, Sime Darby bought a full-service resort with condominiums in Florida (Sandestin Resorts) and a hotel in Australia, among other enterprises. As the company dumped its cash into expansion and diversification, sales and profits bolted. Revenues climbed from M$2.53 billion in 1987 to M$4.98 billion in 1990 to M$6.20 billion in 1992. During the same perio d, net income soared from M$85 million to M$353 million. Sime Darby realized a stunning 65 percent average annual growth in earnings during the late 1980s and early 1990s. Despite its gains, though, critics charged that the company had concentrated too heavily on traditional commodity industries and had failed to move into the 1990s with the rest of Malaysia. In fact, Sime Darby continued to garner about 43 percent of its sales from commodity trading activities in 1993 and only 18 percent from manufacturing. The rest came from heavy equipment distribution, insurance, and its property/tourism holdings. Although building strength in those businesses had added to the companys sales and profits during the late 1980s and early 1990s, the strategy had caused Sime Darby to fall behind more progressive holding companies in the region that were participating in booming high-tech, gaming, brokering, and manufacturing sectors. Many company insiders believed that Sime Darby would have to eliminate its heavy reliance on commodity industries if it wante d to sustain long-term growth. The Crisis The companys stock price began to fall in 1993 and its rapid revenue and profit growth began to subside in comparison with late 1980s levels. In 1993 Ahmad stepped back from control of the company when he named Nik Mohamed Nik Yaacob to serve under him as chief executive. Among Mohameds first moves was to initiate the merger of the companys plantation assets, organized as Consolidated Plantations, and the parent company, The company also bolstered its regional insurance business in 1993 by joining forces with AXA of France for its insurance operations in Malaysia and Singapore. These efforts signaled an end to the companys historical emphasis on commodities and reflected Mohameds desires to increase activity in manufacturing, high-tech, financial services, and other fast-growth businesses and reduce Sime Darbys bureaucracy. The turn around after the crisis The company began increasing investments in businesses such as power generation, oil and gas, and heavy equipment exporting. In heavy equipment, Sime Darby bought the Australian distributor of Caterpillar equipment, Hastings Deering (Australia) Ltd., in 1993. In power generation, a key move came in 1994 when Sime Darby took a 40 percent interest in Port Dickson Power Sdn. Bhd., an independent power producer in Malaysia. That same year, the company acquired U.K.-based Lec Refrigeration plc, which was involved in the manufacturing, marketing, and servicing of refrigeration equipment and related products. At the same time, Mohamed worked to absorb the flurry of acquisitions conducted during the previous several years and streamline the company into some sort of cohesive whole. Despite restructuring activities, Sime Darby managed to boost sales to US$3.15 billion in 1994, about US$186 million of which was netted as income. In 1995 Sime Darby stepped up its acquisition drive through the purchase of a controlling 60.4 percent interest in United Malayan Banking Corporation from Datuk Keramat Holdings Berhad. The US$520 million purchase deepened the companys involvement in the countrys fast-growing financial services sector. United Malayan, which was the fourth largest bank in Malaysia in terms of assets, soon was reorganized as Sime Bank Berhad, with the companys brokerage arm becoming a subsidiary of Sime Bank under the name Sime Securities Sdn. Bhd. For the fiscal year ending in June 1997 Sime Darby posted record net income of M$835.8 million (US$322.9 million) on record revenues of M$13.24 billion (US$4.35 billion). Sime Bank and SimeSecurities played a key role in these stellar results (accounting for 30 percent of pretax earnings), but the eruption of the Asian financial crisis in July 1997 quickly proved that the acquisition of United Malayan had been ill-timed, if not also ill-advised. The severity of the crisis in Malaysia, which included a steep decline in the Malaysian stock market and a sharp depreciation of the ringgit (the nations currency), led Sime Bank to post the largest loss in Malaysian banking historyM$1.6 billion (US$431 million) for the six months to December 1997. In turn, Sime Darby posted its first loss in decades for the same six-month period, a loss of M$676.2 million ($172.7 million). With other Sime Darby units being hit hard by the crisis as well, the company posted the first full-year loss in its clo se to 90-year history in the 1998 fiscal year, a net loss of M$540.9 million (US$131 million). Subsequently ,it beat a hasty retreat from its aggressive expansion, determining that the prudent course would be a return to the companys core areas: plantations, property development, tire manufacturing, heavy equipment and motor vehicle distribution, and power generation. In June 1999 Sime Darby sold Sime Bank and its SimeSecurities subsidiary to Rashid Hussain, who merged it with RHB Bank to form the second largest commercial bank in Malaysia. During the 1999 fiscal year, the company also sold Sandestin Resorts for US$131 million. In 1999,it returned to the black with net earnings of M$821.8 million (US$216.3 million) on revenues of M$9.91 billion (US$2.61 billion). A further pull-back from the financial services sector came in March 2000 when Sime Darby sold its interest in Sime AXA, its insurance joint venture with AXA of France. Meantime, an area of growing interest was emerging at the turn of the millennium as Sime Darby increased its interest in Port Dickson Power to 60 percent, giving it majority control and turning Port Dickson into a company subsidiary. Flush with cash from the sale of its financial services units, Sime Darby appeared poised to make additional forays into the power generation sector. Given the near disaster of its aggressive moves into financial services, however, the company was likely to proceed with much caution in all of its future expansionary endeavors in a return to its traditional style of conservative management. Business activities: Plantation: Plantation is Sime Darby largest revenue generator with about 70% of the conglomerate profits come from this segment. The company operates palm oil and rubber plantations in Malaysia and Indonesian islands of Sumatera, Kalimantan and Sulawesi. With a land bank of over 633,000 hectares, including 300,000 hectares in Indonesia, it is one of the largest plantation company in the world. Property: The company is involved in the property development business in eight countries, namely Malaysia, Singapore, Indonesia, Philippines, Vietnam, Peoples Republic of China, Australia and United Kingdom. Industrial and Monitoring :The company is involved in the purchasing, leasing and selling of industrial equipment such as Caterpillar Inc. heavy duty trucks and tractors.. it has partnership with Ford, it sells Fords cars and trucks together with the Land Rover brand. It is also a major BMW dealer in Singapore, Australia and Thailand. In Southern China, the company sells BMW and Rolls-Royce. In addition, Sime Darby co-owns Inokom Corp Bhd, a joint-venture with Hyundai Motor Company which assembles and sells Hyundai vehicles in Malaysia. Energy Utilities: The company is an Oil and Gas services company which provides equipment for exploring oil and gas assets in the South East Asia region. The company is also an independent power provider in Malaysia and Thailand. The company also provides engineering services in the system integration and sales sectors, security and oil gas sectors. Healthcare: The company owns hospital named Sime Darby Medical Centre Subang Jaya Sdn. Bhd ,SDMC Formerly known as Subang Jaya Medical Centre, and college formerly known as SJMC Academy of Nursing and Health Sciences which was established in 1995 and now is known as Sime Darby Nursing and Health Sciences College. Other businesses: The company has a port utility company named Weifang Sime Darby Port Co Ltd. Other businesses that the company is involved in include healthcare, aerospace (divested from Asian Composites Manufacturing (ACM) in 2009), bedding, consumer and industrial products, logistics and packing.The company also owns the 30% of the Malaysian arm of Tesco stores. Sustainable Practices: Sime Darby plantations implemented Zero Burning Planting Techniques Techniques (ZBPT), a practical and environmentally sound technique of replanting, in 1989. The Board of director and audit committee profile: Company Profile Bhg Dato Mohd Bakke, was chosen on13th May 2010 as the new president and group chief executive (PGCE) and formerly group president/CEO of Felda Global ventures Holdings SDN Bhd, he has necessary experience in corporate restructuring exercises as well as in management expertise in the plantation. Dato Azhar Abdul Hamid, Chairman,board of Directors and Managing Director of Sime Darby Plantation Sdn Bhd. He is head of the Sime Darby Groups Plantation and Agri-business Division Aditheb Bisalbutr Chairman of Executive Committee (EXCOM) Member of Board of Directors Chairman of PTT Chemical International Pte. Ltd. (since October,2008)   Dr. Kongkrapan PhD. He is the group Chief Executive Officer and a member of the Board and the Executive Committee of Emery Oleochemicals Group. chemical Haris Fadzilah Hassan Executive Committee Board of Directors ,Senior Vice President of Downstream Operations, Sime Darby Plantations Sdn Bhd    Puntip Oungpasuk is the member of board of directors oversees PTT Chemicals business strategy, business development, corporate planning, corporate strategy portfolio management, innovation technology, and international businesses.   Veerasak Kositpaisal :The President and CEO of PTT Chemical Public Company Limited. Also the Chairman the Plastic Industry Club of the Federation of Thai Industries Tn Hj. Khairudin Hashim :The Head, RD Centre for Sime Darby Plantation. He is also a Board Member of several of Sime Darby Plantations subsidiaries. Now, Panel Member of the Advisory Panel for RISDA College. Mustamir Mohamad (Alternative Director) Head, Strategy and Business Development Sime Darby expanded their operations in more than 20 countries throughout the Asia, Europe, Africa, the Middle and Unites States. Sime Darby Berhad is one of the largest listed oil plantation groups. It has been estimated approximately near 6% of the total palm oil production in the world. The financial accounting standards of Sime Darby In Malaysia, a Sime Darby Berhad financial accounting standard is accordance to Malaysian Accounting Standard Board (The Sime Darby Group, 2005). The financial statements have been arranged in accordance with the Malaysian Accounting Standards Board approved accounting standards in Malaysia; comply with the Financial Reporting Standards (FRS) and the provisions of Companies the Act, 1965. The functions and powers of the Malaysian Accounting Standard Board (MASB) as provided under the Act are to (MASB, 2010): issue new accounting standards as approved accounting standards and to review, revise or adopt existing accounting standards as approved accounting standards; issue statements of principles for financial reporting; sponsor or undertake development of possible accounting standards; conduct public consultation as necessary; develop a conceptual framework for the purpose of evaluating proposed accounting standards; make such changes to proposed accounting standards as considered necessary; seek the view of the FRF in relation to new and existing standards, statement of principles, and changes to proposed standards; determine scope and application of accounting standards; and to perform such other function as the Minister of Finance may prescribe Harmonization must begin with a standardization of the reporting requirements. In Sime Darby, (Sime Darby Berhad Annual Report, 2009), the accounting standards have been issued with regards to segment reporting. The accounting standards are based on; The Directors are required by the Companies Act, 1965 (Act) to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Group and the Company at the end of the year and the results of the Group and the Company for the year. The Directors plays role in responsible in safeguard the assets of the Group and to prevent and detect fraud and other misdeed Malaysian necessities the Companies Act 1965 and on the standards of the Malaysian Accounting Standards Board. The Malaysian Accounting Standards Board (MASB) uses IAS 16-Property, Plant and Equipment, as the foundation for rising accounting standards. Convergence of accounting standards will be not achieved without significant cooperation between government and business community. The financial statements are presented in Ringgit Malaysia (RM) which is the companys functional and presentation currency. How can this company combine of  financial accounting standards between in its branches (Singapore and other countries) according to the existence accounting system In Singapore, Sime Darby Singapore Limited Is under US GAAP, Statement of Financial Accounting Standards. In United States, Sime Darby Plantation USA financial accounting standard was registered with the Securities and Exchange Commission (SEC) of the United States of America. The Securities and Exchange Commission The Securities and Exchange Commission is a U.S. regulatory agency that has the authority to establish accounting standards for publicly traded companies. The Securities Act of 1933 and the Securities Exchange Act of 1934 require certain reports to be filed with the SEC. For example, Forms 10-Q and 10-K must be filed quarterly and annually, respectively. The head of the SEC is appointed by the President of the United States. When the SEC was formed there was no standards-issuing body. However, rather than set standards, the SEC encouraged the private sector to set them. The SEC has stated that FASB standards are considered to have authoritative support. The adoption of International Accounting Standards as Philippine generally accepted accounting principles (GAAP). In Philippines, Sime Darby Pilipinas Inc, the standards financial accounting was based on Generally Accepted Accounting Principles (GAAP) in the Philippines as set forward in Philippine Financial Reporting Standards (PFRS). PFRS includes statements named PFRS and Philippine Accounting Standards (PAS), including interpretations by the Philippine Accounting Standards Council. These are the Companys first consolidated financial statements prepared in conformity with PFRS. Generally Accepted Accounting Principles (GAAP) are generally accepted because an authoritative body has set them or the accounting profession widely accepts them as appropriate. Prior to this, Philippine generally accepted accounting principles were based mainly on US-based accounting standards. According to Parker, (2010) Generally Accepted Accounting Principles (GAAP) has four basic principles. The historical cost principle requires companies to account and report based on acquisition costs rather than fair market value for most assets and liabilities. The revenue recognition principle requires to record when revenue is realized or realizable and earned, not when cash is received. The way of accounting is called accrual basis accounting. The matching principle-Expenses have to be matched with revenues as long as it is reasonable doing so. The full disclosure principle-Amount and kinds of information disclosed should be decided based on trade-off analysis as larger amount of information costs more to prepare and use it. Information disclosed should be enough to make judgment while keeping costs reasonable. In Malaysia, refer to Nathan et al, (2000) Malaysia Standard Auditing is issued by Malaysian Institute of Accountants (MIA) and the Malaysian Association of Certified Public Accountants (MACPA) to harmonize the auditing practice. The authors mentioned that in order to harmonize the accounting standard practices, Malaysia has been implementing good standards by strengthening actual accounting and auditing practices. Nathan et al, (2000) also emphasized that to maintain the relationship between national standards and international standards and as well as maintain and improved the standards; the professional accounting bodies review the published accounting statements annually and Malaysian Accounting Standard Board (MASB) were set up to ensure that; the issuance of new standards as approved accounting standards the assessment, revision or implementation as accepted accounting standards existing accounting standards go aboard on a programme to review all extant accounting standards for consistency the latest developments in International Accounting Standards (IAS), legal and regulatory reporting requirements evaluate the practical practice of International Accounting Standards (IAS) relate to application of the accounting standards According to Carlin et al, (2009) MASB to adopt global harmonization of standards (IFRSs) is a reflection of Malaysias obligation to support with global accounting standards in order to achieve harmonization with international practice. Based on the financial accounting standards between its branches, from my point of view, the process for harmonizing accounting standards seems based on a harmonious relationship among national and international standards setters. Sime Darby Berhad neither replaces nor eliminates the need for standard setters. The monitoring of reporting and agreement with approved standard and as well as regulatory body has been done by financial institutions i.e. Bank Negara. Does it succeed  to achieve that or not  if not what are the obstacles that face this company to achieve that According to Pasceri, (2005), a Chief Internal Auditor and Finance Director of Sime Darby Malaysia, Francis Anthony stated that; Nothing has changed except for disclosure requirements, which have become quite onerous today, with no doubt. As far as the statutory reporting and financial community, especially the auditors, there are more requirements to be met. Unfortunately, with the rush of regulatory changes in the US and their impact on international accounting standards, we have erred in moving too much towards a rule-based environment. As far as the basic accounting system goes management reporting and management accounting thats not changed. The basic principles are the same except for today you must ensure stricter compliance with cross-border and transfer pricing rules and be more familiar with management decision-making techniques for risk management. Francis Anthony also pointed out that; There is overload now even for wellrun companies and I think it is maximised, and the challenge now is balancing. The challenges of Sime Darby faces today is just that the audit management need to maintain and balance the role and keep side by side of all regulatory changes on finance. Having worked in multiple jurisdictions in the region Anthony finds that for companies in Hong Kong and the other local exchanges like Malaysia and Singapore, there are varying degrees of reporting requirements that will be getting more and more stringent with SarOx (Pasceri, 2005). Internal and External Audit Duties and comments To say that the group had processes in place its just that they had not been implemented properly certainly laughable because it is all too  familiar. If one was to seriously respond to this excuse, it would be that is why you have internal and external auditors. And when the internal auditors raised the red flag in August 2008, it was conveniently swept under the carpet! If the excuse was that, the non-executive independent directors were obliged to give the benefit of the doubt to management, the external auditors, Price Waterhouse Coopers (PWC) certainly had no such obligation or professional reason to do so! This was their red flag to delve into the issue of cost over-runs including its recovery of such costs. This is no more an ordinary run of the mill statutory audit. PWC had been put on enquiry and were obliged to look into the concern meticulously. The question to be answered is that, what did PWC do? They signed off the accounts of Sime Darby for 2008 and 2009 with a clean audit report! Not even an emphasis of matter especially on the possible cost over-runs and its recoverability! The fact that official media had highlighted these matters, besides the media report prior to the finalization of the 2008 and 2009 accounts speak volumes about the role (or lack of it) of PWC The official media currently has been quite polite about this latest incident .yes, they have been polite relatively speaking, but if you read in between the lines, the insinuation is the total collapse in the check and balance roles of the other parties involved with Sime Darby notably the auditors and members of the Audit Committee headed by the ex-chairman of PWC. Andrew Sheng, a proponent of strong corporate governance is unfortunately embroiled in this mess as director and he cannot easily extricate himself out of this especially when he was appointed in 2007.He has to regain credibility by insisting massive and fundamental changes to the way things are done in the Malaysian corporate world in general and Sime Darby in particular. The audit committee In April 2008, for example, there were news reports that Sime Darby Engineering Sdn Bhd had incurred cost overruns of between RM120mil and RM150mil in its offshore engineering, procurement, construction, installation and commissioning project for Maersk Oil Qatar (MOQ). In February 2009, a report also alleged that there had been costs overruns in the same project, but this time, the figure mentioned was far bigger. At a media briefing on Feb 4, Zubir dismissed this: Theres no such thing as the RM800mil losses. The Minority Watchdog Group (MSWG) wrote to Sime Darby chairman Tun Musa Hitam in March 2009 on issues in the energy and utilities division. At the companys AGM last November, the MSWG also raised questions about the divisions shrinking bottom-lin

Gateway Drugs and Common Drug Abuse :: Substance Abuse Essays

Gateway Drugs and Common Drug Abuse The oldest known written record of drug use is a clay tablet from the ancient Sumerian civilization of the Middle East. This tablet, made in the 2000’s B.C., lists about a dozen drug prescriptions. An Egyptian scroll from bout 1550 B.C. names more than 800 prescriptions containing about 700 drugs. The ancient Chinese, Greek and Romans also used many drugs. The Greeks and Romans used opium to relieve pain. The Egyptians used castor oil as a laxative. The Chinese ate liver to cure anemia. In the 1500,s and 1600’s, doctors and scientists made important advances in Pharmacology and in other fields of science. In the early 1500’s, Swiss physician Philippus Paracelsus pioneered in the use of minerals as drugs. He introduces many compounds of lead, mercury and other minerals in the treatment of other diseases. Gateway drugs are substances that people take which, in many cases, lead to those people taking more drugs. Alcohol and pot are the most obvious gateway drugs. Studies show that if you smoke pot, you're more likely to try things like crystal meth or cocaine or heroin. Many people see alcohol and pot as less dangerous and harmful than other drugs, but the truth is, they are just as dangerous as any other drug in more ways than one. Not only are alcohol and pot dangerous in there own right, they also screw up your judgment making you more likely to use other drugs. Gateway drugs work in two major ways. The first, gateway drugs break down a psychological barrier against doing other drugs. Once you have crossed the line with a gateway drug, you are more likely to go there with other drugs. Second, Gateway drugs impair your judgment. If you are drunk to high, it is easier to say yes to cocaine or whatever else is around. These drugs break down your inhibitions, so you are more susceptible to peer pressure and experimenting. They do not just impair your judgment when you are on them they can change the way you feel about drugs in general. LSD LSD (lysergic acid diethylamide) is one of the major drugs making up the hallucinogen class. LSD was discovered in 1938 and is one of the most potent mood- Schreiber 2 changing chemicals. It is manufactured commonly referred to as "acid," The effects of LSD are unpredictable.

Small capital in Philippines Essay

This chapter consists of brief summary of articles, findings of the study that are related to the present study. It contains foreign and local literature, foreign and local studies. Local Literature According to Mishell M. Malabaguio of entrepreneur magazine Philippines, Small capital, easy set-up and a good chance of success are just some of the reason why Food Cart Business is thriving in the Philippines. If you will look at the market trend today, Food cart business is the choice of most aspiring entrepreneurs. A mobile food cart is a business where you can start on low capital ranging from P30,000 to a maximum of P300,000. But it could be a little lower though, depending on how you will put it up — by franchise or on your own. Some companies offer food cart franchise for as low as P10,000 per package that includes, the cart, product, uniform for the crew and training. Over the last few years, food service carts have sprouted all over the metro — from MRT and LRT station, malls, sidewalks, church, schools, markets etc. – name it and for sure, you’ll find a food cart there. Today, there are about 800 different food cart formats available in the market–pizza, waffle, fishball, siomai, rice toppings, and baked goodies, rice in a box, hotdog and a lot more.Industry estimates that more than P1 billion in sales are turned over every year from the food cart businesses. With this amount, no doubt that Food Cart is the hot business in the market. If you have a nice cart, then the next thing to consider is Location. Location plays a big part in the success of your food cart or in any business for that matter. You have to think of a good location where a person frequents and can see what you are selling. But not all places cramming with people is a good venue just like MRT and LRT station. Lastly, you have to match your good locati on with the right product at a good price.

Religion and Grand Zoroastrian Nation Essay

It fills my heart with joy unspeakable to rise in response to the warm and cordial welcome which you have given us. I thank you in the name of the most ancient order of monks in the world; I thank you in the name of the mother of religions; and I thank you in the name of the millions and millions of Hindu people of all classes and sects. My thanks, also to some of the speakers on this platform who, referring to the delegates from the Orient, have told you that these men from far-off nations may well claim the honour of bearing to different lands the idea of toleration. I am proud to belong to a religion which has taught the world both tolerance and universal acceptance. We believe not only in universal toleration, but we accept all religions as true. I am proud to belong to a nation, which has sheltered the persecuted, and the refugees of all religion and all nations of the earth. I am proud to tell you that we have gathered in our bosom the purest remnant of the Israelites, who came to southern India and took refuge with us in the very year in which their holy temple was shattered to pieces by Roman tyranny. I am proud to belong to the religion, which has sheltered and is still fostering the remnant of the grand Zoroastrian nation. I will quote to you, brethren, a few lines from a hymn which I remember to have repeated from my earliest boyhood, which is every day repeated by millions of human beings: ‘As the different streams having their sources in different places all mingle their water in the sea, so, O Lord, the different paths which men take through different tendencies various though they appear, crooked or straight, all lead to Thee’. Quoted from Siva Mahimnah Stotram 7. The present convention, which is one of the most august assemblies ever held, is in itself a vindication a declaration to the world of the wonderful doctrine preached in the Gita: ‘Whosoever comes to Me, through whatsoever form I reach him; all men are struggling through paths which in the end lead to Me’. Quoted from Geeta 4:11. Sectarianism, bigotry, and its horrible descendant, fanaticism, have long possessed this beautiful earth. They have filled the earth with violence, drenched it often and often with human blood, destroyed civilization, and sent whole nations to despair. Had it not been for these horrible demons, human society would be far more advanced  than it is now. But their time is come; and I fervently hope that the bell that tolled this morning in honour of this convention may be the death-knell of all fanaticism, of all persecutions with the sword or with the pen, and of all uncharitable feelings between persons wend ing their way to the same goal.