Billionaire leaves investors in dark over Public Bank succession
KUALA LUMPUR: Public Bank Bhd investors seeking clues on who will succeed billionaire founder Tan Sri Teh Hong Piow as chairman of Malaysia’s most profitable lender were left in the dark at an annual meeting on Monday.
PUTRAJAYA (Aug 17): The Ministry of Transport announced today that all outstanding automated enforcement system (AES) summons worth over RM435 million will be waived and the government, via the Road Transport Department (JPJ), will take over the management and operation of the system starting Sept 1.
In a press briefing today, Transport Minister Anthony Loke Siew Fook said since the commencement of the AES in 2012 until May this year, 3.76 million AES summonses have been issued. Of that, only 659,934 summonses or less than 20% have been paid.
Open offices suck. Recent research shows that they can decrease face-to-face collaboration and increase email, diminish employees’ productivity, reduce focus, and even promote sexism. While there may be a time and place for open workspaces, workers themselves tend to hate them. So why do companies love them?
A new data analysis by Erik Rood offers one simple explanation: They save companies insane amounts of money.
Rood points out that the average amount of space per worker has been shrinking for years. According to some research, adopting open plan workspaces has helped drop the average square footage per worker by about 33% in just seven years. Using publicly available data from some of the largest S&P 500 companies, he offers a rough estimate of what the savings might look like–multiplying the square footage they’d expect to save by going open plan times the number of employees and a baseline cost per square foot for office space.
[Image: courtesy Erik Rood ]
While such an estimate is rough, and Rood assumed key details like the cost per square foot at $50–which may be high or low, depending on location–and a standard amount of space savings in general, the numbers are nothing short of amazing. In theory, corporations like JP Morgan may have avoided spending more than a billion dollars over seven years by adopting open plan offices, which may translate into more than a 3.5% of its profits.
Still, as Rood points out, this doesn’t account for the loss of productivity that open plan design seems to have on workers. The last open plan office I worked in felt like a church–its sepulchral silence only broken by the clickety-clack noise of a hundred keyboards and the occasional gremlin snickering at a joke someone had made in group chat. It sucked. But I digress. You can read the rest of Rood’s analysis here.
This partnership will offer online medical services such as AI-assisted online medical consultations, medicine delivery, and appointment bookings.
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