MyTeksi

Folks,

In this post, I want to talk about mobile taxi booking application MyTeksi, as I was there during the company’s media briefing today.

MyTeksi Sdn Bhd, as the company is called, was founded by former Harvard Business School graduates Anthony Tan and Hooi Ling Tan.

These two geniuses had an idea to “save the world” after hearing horror stories from family and friends about the taxi industry in Kuala Lumpur.

The idea was very simple: introduce a booking application at a touch of finger.

Validated by judges in Harvard Business Plan Competition 2011, this has ideas has certainly revolutionsed the taxi industry, hence giving birth to MyTeksi.

MyTeksi was later launched to the public on June 5, 2012.

Outside Malaysia, the brand is known as GrabTaxi.

According to its general manager Adelene Foo, MyTeksi is now present in six countries and covering a total of 16 cities.

These are tabulated below:

#	Country	Population	City
1	Malaysia	29,716,965 (29.72 million)	Kuala Lumpur Putrajaya Selangor Negri Sembilan Johor Malacca Sarawak Penang
2	Singapore	5,399,200 (5.4 million)	Singapore
3	Philippines	98,393,574 (98.39 million)	Manila Cebu Davao City
4	Thailand	67,010,502 (67.01 million)	Bangkok Pattaya
5	Vietnam	89,708,900 (89.71 million)	Ho Chi Minh Hanoi
6	Indonesia	249,865,631 (249.87 million)	Jakarta

*population data was taken from The World Bank. Data is at Dec 31, 2013, and may change. 

As you can see above, there is a lot of potential to be tapped into these countries, given the high populations. Asia alone make-up one-third of the world’s population, and it is estimated that there are about 600 million people travelling in this region.

That itself is a huge market to tap into.

Foo said that in order for MyTeksi to expand into more cities, there needs to be infrastructure such as 3G internet coverage and somewhat dense legitimate taxi population.

This is true, given that to book the taxi, one need a smartphone or a tablet. Without strong internet connection, booking is not possible; and hence, it makes no sense for MyTeksi to expand its coverage to cities with low infrastructure.

As for its mobile applications (app), Foo said that it has been downloaded onto 2.1 million mobile devices with more than 400,000 active monthly users, equivalent to an estimated of two taxi bookings made through the MyTeksi platform every second.

She added that MyTeksi has about 50,000 registered taxi drivers, with 1-in-2 (one taxi driver out of two people) taxi drivers in the Klang Valley alone.

A simple maths would yield that there is an estimated range of 20,000 to 25,000 registered taxi drivers covering the Klang Valley region.

In terms of business funding, Foo said that MyTeksi has received three rounds of funding from investors that comprise of hedge-funds and venture-capital firms such as Tiger Global Management, Hillhouse Capital Management, GGV Capital, Qunar and Vertex Venture Holdings.

“MyTeksi has always been selective in choosing its investment partners. As a start-up, we value their experience and advice in helping us to revolutionise the taxi industry in Malaysia,” she said.

It is worth noting that the New York-based Tiger Global Management has nurtured technology companies such as Flipkart, Netflix, Redfin, and Survey Monkey. The firm was reported as managing some US$4.4 billion fund, with an annualized return of 21%.

The total amount of funding received has reached US$90 million (RM294.57 million) to-date.

To recap, MyTeksi received its first round of funding–known as Series A–in April this year.

A month later, the group received the second round of funding, worth more than US$15 million, bringing total combined funding value to US$90 million to-date.

According to Foo, proceeds from the investments will be channeled towards taxi drivers that include educational fund for taxi drivers and their families, as well as vehicle refurbishment.

“We will use the funds to continue our growth and expansion within Malaysia, particularly in attracting talent to handle the new territories that we will enter. A significant portion of the investments will also be used to develop community programs to reward the group’s taxi drivers, their families and passengers,” she said.

Please find the article written below:

The Edge Financial Daily, Oct 21, 2014

Happy Diwali

Hey folks,

Wishing to a merry Diwali all those who celebrates it.

From myself, a financial journalist at The Edge Media Group.

Resisting the pope's welcoming of gays

Folks,

There is an interesting cartoon on Pope Francis in the current issue of The Economist (Oct 18, 2014).

Since his election to the top position in March last year, Pope Francis has always be seen and viewed as the people's Pope. He is loved from everyone, whether Christians or not.

I personally have respect for this man, because of his soft, liberal, progressive, conciliatory and inclusive approach.

Recently, the Pope was reported in the media as driving to make the Roman Catholic Church more welcoming to the gay people (homosexuals).

And this is certainly a taboo issue in almost all religions.

Nonetheless, I think that welcoming the gay people is a good move, on the basis that religions should warmly welcome any fellow humans regardless of their background, race, ethnic, and gender.

As for the Pope's move, I think that there will backlash and resistance from some, if not most, of the church's conservative religious leaders.

The same can be said to the faith of Islam, as well as other religions.

Imagine, an imam (religious leader) in Malaysia openly welcoming gays and lesbians to the mosque to pray.

Such is a blasphemous act, some holier-than-thou religious scholars might say.

Based on maximum scenario calculation, such an act is enough to get the imam labelled as heretic (kafir), and possibly charged in the court, which will result in being jailed.

Why are some of us so intolerant to others that do not fit within the framework of our system of belief?

That aside, I strongly believe that every faith should make its teachings open to anyone who is professing or intending to do so, without being discriminatory and embrace reconciliatory?

After all, being religious is also about being tolerant, inclusive, caring and loving towards another human beings.

And discriminating another human is actually a sinful act, and contradict to the teaching of the religion that you are professing, no?

Why can't we all care and love one another without being discriminatory and stereotype?

Source: The Economist, October 18th, 2014

The world leader gets noticed!

Folks,

Of late, I have been reading that North Korea's top leader Kim Jong Un was reported as disappearing from the public radar for quite sometimes.

Apparently, Kim Jong Un is reported as loving the cameras and publicity.

The news on his absence from the public radar prompted many speculations among journalists worldwide.

Some speculated on his death, others speculated on his health. And the speculation is rife as the days pass by.

This is certainly news to world leaders though; especially to the United States of America, where the president has voiced his concern on North Korea's nuclear weapon programmes.

Well, the recent public disappearance of world leaders, such as Kim Jon Un, is somehow a reminder to them (the key leaders) to always be seen in the public and not shy away from the media.

Any attempts to do so will definitely be noticed as key world leaders should appear frequently for public scrutiny.

Their absence will make the journalist's thought grow fonder, hence prompting rife speculations that could be negative.

The sickening caste system

Folks,

Just now, I read a story about a lower-caste boy in India being burnt to death for failure to properly monitor the goat of a farmer.

The boy, apparently from the lowest caste, was brutally bashed and later burned to death.

That sickens me. It boiled my blood.
And it disturbs me!

Why is there still a caste system?

I'm sorry, but I particularly do not see any benefits of this human-labeling system, that has no basis.

Why classify and categorise persons as holy, unholy and untouchables?

Wait.

Are we all not creation of God?

And who are these humans, taking the role of God to categorise other fellow humans, when God itself does not do so?

No baby requested from God to be born and later classified as either lower-class or upper-class human.

The baby may be born in a rich or poor family, but in the end, all babies are equal before God.

The issue concerning the caste system is somewhat similar to the issues of slavery and gender equality.

All of these three -- caste, slavery and gender equality -- steretotype and discriminate between one human and another.

Historically, we used to have a slavery system, where a person can be owned by another person.

Thank heavens that the system no longer exists in this half-sane world.

And then there was and still is, the issue about gender superiority, where men see themselves as superior than women.

But time has changed.

Everyone has its own unique capability. And neither no gender is superior nor inferior than another.

A lot of effort has been placed to enhance the role of women in the society.

In Malaysia at least, though a lot needs to be done, but women's right is protected here.

Yes, there are still some chauvanistic views, but at least we do not kill any women for petty crimes such as this.

And what remains now is this issue of caste, which is pretty much prevalent in India and ought to be properly addressed.

Now, I have to tread very carefully here as it involves a lot of sensitivity from some community. And by all means, I am not trying to offend them.

If I do, then I am so sorry, but the trauma of reading such disturbing article left a deep scar in my heart.

The extend of human action is beyond imagination.

What I am writing is merely a diplomatic view concerning the issue of the world's societal fabric, which I hope will be for the greater good of humanity.

My view is this:

(1) no baby is born with any kind of sin. All babies are born free of sin, but with countless number of blessings.

(2) no person or human should be enslaved and owned by another human.

(3) all persons, regardless of the social status and gender, are equal before the law, and ultimately God.

(4) no human has the right to claim that her or she is holier than the other. Only God can do that.

And I therefore pray that proper justice be done.

Of nut and banana

Folks,

Here is an interesting topic about nuts and banana, as opposed to "nuts and bolts".

These nut and banana will be discussed in ethnic context of Malay and Chinese communities, respectively.

And no, this is not a sex talk, but merely a social, unscientific observation of the fabric of society that I am in.

Let's first talk about "nut".

Despite all the nitty-gritty negative connotations; nut or "kacang" in Malaysia is used to describe someone who has forgotten its roots.

There is a specific Malay phrase that goes like this" kacang lupakan kulit, which in English would mean "a nut who has forgotten its shell".

This phrase is regularly intended to describe those -- particularly the Malays -- that have forgotten their own root (culture) such that they pretend not to know the Malay language after coming back overseas, or they decide to disband their parents in achieving worldly pleasure.

So that is about nut, or kacang.

With all due respect, I specifically relate it to the Malays because I feel that they can absorb and feel its meaning best, as compared to other race.

But be careful! Don't blindly use the word kacang.

If you want to describe someone who has forgotten its root, then use the phrase kacang lupakan kulit in full.

If you use kacang alone, it would mean "simple", in the sense that this word is loosely used to describe how simple it is to solve or do something.

And why is kacang used in such context?

Well, probably because it is simpler to throw kacang in your mouth and chew them as foods.

Throwing kacang is an easy act, no?

Next comes banana or pisang, an often a misunderstood fruit.

Banana is a pejorative word used widely within the Chinese community.

Let's look at the anatomy of a banana. It is long (yes, everyone noticed that!), and have a yello colour on the outside and a somewhat white colour on the inside.

The slur is that the yellow outside represents the Chinese skin colour, and the white inside represents the so-called caucassion, or mat salleh as it is known in this country.

What I am trying to say is that, a Chinese is labelled as banana is he or she embrace Western culture such that they forgot their own roots, eapecially their language.

An often-seen situation that could be a good example is if there is a Chinese that does not know how to speak Chinese -- either Mandarin, or Cantonese, or Hokkien, or even Hakka.

Therefore, there you have it.

Nut or kacang for the Malays, and banana or pisang for the Chinese.

The fruits of race-linked pejorative, is how I would term it.

The Good Blokes of Fire Fighters

Peeps,

Honestly, dear: I think that the official title for those working as a "fire fighter" or "bomba" in Malaysia is no longer relevant.

And let me tell you why.

I have been following tbe development of these folks in the social media, or specifically Facebook.

They are one good organisation providing noble services to the society at no cost, and sometimes at the expense of their own life.

Tracing through their Facebook accounts, these folks have done so many good and great bizarre things in Malaysia: from helping a cat stuck on the tree, to cutting a ring stucked in somebody else's penis.

And yes, you read that right.

To recap, there was a case in Kelantan few months ago where one young adult had a ring stucked in his penis.

The ring, presumably used to prevent premature ejaculation, was unfortunately stucked in his penis and he could not get it off.

And, his father sent him to the hospital. The doctors, which I am sure puzzled at such rare a case, was nonetheless unable to remove the stucked ring.

Apparently, not even the soap could be used to take that thing off the guy's penis.

Having lost ideas, the doctors then called the fire-fighters to help out. And one wonders what does the fire-fighters have to do with this thing.

And the fire-fighters then used a special cutter to remove that ring.

Amazing, isn't it, what the fire-fighters can do?

This is one of the plethora of cases thay they have reported in their Facebook account.

And if you have been following them in Facebook, you will see that these folks offer services beyond their scope of fighting and putting off fires.

And they must be duly credited, for their work is one that bring joy and cheers to the humanity.

They are trying their best to eradicate all the physical sorrows that haunt people's lives and bring that longing smile to the face.

These are the unsung heroes that society should thanked them, and appreciate.

In fact, these folks deserve more than standing ovation and loud clap, for the bizarrer, interesting and dangerous work that they are involved in.

I cannot imagine a world without bomba.

Which then leads me to conclude that these folks should have their official name changed from fire-fighter to something that can better reflect their instinct of rescuing people in times of emergency.

Gone are the days where we solely depend on the police for help.

Yes, we do still need them, but we too should consider having the presence of bomba as well.

Funny Weather

Folks,

Something is definitely wrong.
I can feel it under my skin.

What is up with the weather these days?

I am so baffled. And puzzled.

At 9:00am in the morning, it is smoking hot with the scorching heat emanated from the unforgiving sun. And you tend to sweat more at this hour compared to the same period few years back.

And goodness, clothes on the line dries up faster at this hour than before.

The rate at which the water evaporated is much faster these days.

And at 12:00pm, the heat just "expanded", and the anger in you is further exacerbated by the less wind in the air and the choking smoke that contains small particles that makes your feel so uneasy.

And I think that my skin is almost half-cooked at this mid-day too. The tan in my skin is a proof.

And at 3:00pm, it rains like nobody's business. Seems that the sky is conveying its sadness to humanity through the tears it dropa every now and then, which tend to be inherently frequent.
And then, news about flash flood in the city center, and other parts of the valley starts to flow and make headlines to the radio, tv stations, newspapers and online portal.

And the night seem to seep in early at 6:00pm. Honestly, 6:00pm now is so much different than 6:00pm before.

At this hour, it seems that the cloud is going all out to hide the sun from lighting up this world.

Really, what is wrong with the weather today?

I am scared. And perturbed by this sudden change.

Some say it is monsoon and cyclical in nature.

And some say that it is a sign from the almighty God that the apocalypse is getting closer and nearer.

And some say that this is God's punishment to the inhabitants of the earth for polluting its nature, vandalizing its flora and fauna, and causing chaos via relentless wars and insurgent fights among its creations.

My oh my.

The weather is funny.
And sometimes, it turns ugly.
And now, I pray sincerely,
That God will forgive all of me.

Tussle in the Boardroom

Folks,

Recently I had a personal lunch with a couple of company's headhonchos (mostly chief executive officers [CEOs]).

Of course, being a journalist has its own perks than say, being something else.

The fact of the matter is that some of the CEOs are not comfortable running the company if the board starts to behave like  executive body than being an oversight body.

This, by the way, does not apply if the company is wholly-owned or partly-owned by an executive chairman.

In such situation, the CEO has little choice but to follow the business directions as set out by the major shareholder who has interest in the company.

But then again, if you are at the board level, you should not meddle in petty executive issues of running day-to-day operations.

The board -- with all the wisdoms, conscience and experiences of its member compositions -- should concentrate on the business and strategic directions of the company, and oversee in critical and crucial areas such as financial performance and audit issues.

Hiring of staff (other than the CEO), and answering management-related questions should solely be in the hand of the CEO and/or CFO.

After all, why hire top patriarchs to complete the echelons of runnning the team, if the board is going to meddle in daily operations?

Such "unseen hands" is detrimental to the company's progress to the next level of growth.

And it goes against the principle of good corporate governance.

And it is for this matter that I, as a financial journalist with such a privilege to heard those personal and off-the-record stories, pity those CEOs being put in such situation.

Even if the CEO is a strong man or woman that can academically challenge the board in the most professional manner, but in the end, if the board does not like him or her, then it will be hard for them to steer the company in rough course of challenging operating environment.

I can only wish the best for them.

A Detail MAS Restructuring Plan

Folks,

Finally the national carrier Malaysian Airlines Systems Bhd (MAS) has released an important circular to its shareholders detailing a complete restructuring plan to rescue the ailing airline.

The detail was announced to Bursa Malaysia few days ago.

You can take a look at the document here:

Part 1 of the document

• http://announcements.bursamalaysia.com/EDMS/subweb.nsf/all/E79B863D03C0C73B48257D720011B9E3/$File/MAS%20-%20SCR%20Documents%20Cover-50.pdf

Part 2 of the document

• http://announcements.bursamalaysia.com/EDMS/subweb.nsf/all/E79B863D03C0C73B48257D720011B9E3/$File/MAS%20-%20SCR%20Documents%2051-Affix.pdf

Notable in this circular is that the airline had seen cumulative net adjusted losses from RM8.4 billion from 2001 to 2014, with some RM17.4 billion of government funds used to bail the airline out.

Wow. What an astonishing figure!

The poor financial performance and the negative sentiment towards the national airline was further exacerbated by the tragic and puzzling loss of flight MH370, as well as the shooting down of MH17.

On Khazanah's proposal to save the airline, independent adviser AmInvestment Bank is of the opinion that the restructuring plan–involving selective capital reduction (SCR)–is deemed as "fair and reasonable", and not detrimental to ordinary shareholders of MAS other than Khazanah Nasional Bhd.

AmInvestment Bank said, "accordingly, we recommend that the ordinary shareholders of MAS other than Khazanah vote in favour of the special resolution pertaining to the proposed SCR to be tabled at the forth coming EGM [extraordinary general meeting] of the company."

Well, there you have it.
A plan to restructure the company.
An action to rescue the ailing legacy.
And finally, a drastic move that comes in time of emergency.

If you are MAS shareholders, will you vote for, or against it?

Am I Wrong

Peeps,

Recently, I came across this song while I was on my way home from work.

The song, apparently sung by a Norwegian duo–Nico and Vinz–called "Am I Wrong", which I think is more of a question that ought to have a question mark symbol at the end of it.

Nonetheless, the title of the song itself is a valid question to ask, both concerning our life and elsewhere.

The question, I guess, is also a bit defensive too as you tend to question the validity of certain action. But, the question also ought to have an answer when asked from one party to another.

You can watch the video here:

Here are some of the questions that I have extracted from the lyrics:

Am I wrong for thinking out the box from where I stay?

Am I wrong for saying that I choose another way?

So am I wrong ... For thinking that we could be something for real?

Now am I wrong ... For trying to reach the things that I can't see? 

And now, let's go and figure out some answers for the questions posed in this song.

I am now an "uncle"

Folks,

I have not been updating my blog for quite sometimes, despite me being a journalist.

Oh well. I am just busy with so many things in the office as well as sorting out some mess in my life.

That aside, this post is about me being an uncle. That indirectly make my parents both a grandmother and a grandfather. And all my other siblings as uncles and aunties.

Wow! How time flies. How I wish I am a Peter Pan: one that never age!

I think I am too young to be an uncle. Maybe not to some others.

But the fact remains: I have just turned an "uncle", thanks to my sister, the second one in the family.

The are two prongs to this issue. The first prong and the other side of the prong.

Let's look at the first prong -- "the good side" of it is the fact that the zuriat (offspring) or the family expands.

The other side of the prong is that I am not yet married. And this is what worries me. It indirectly, paints somewhat a "bad picture" to me because at this age, most Malay men is expected to be married.

My sister, a year younger than I am, is already married and now has a child. That adds pressure to me.

Not so much of stigma (I can definitely handle the look, the stare and even the thought), but not the questions. Oh man, the questions are just killing me.

But for now, I can't think of anything else. I can only think of the newcomer in the family.

Good for you, sister. I am so happy.

And welcome to the world, me niece or nephew.