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APAC Edition
13th September 2024
 
THE HOT STORY
Malaysia Airlines boss pledges work culture overhaul after engineers join Singapore carrier
Malaysia Airlines has lost 12 engineers to SIA Engineering Company Limited (SIAEC), since the unit of Singapore Airlines opened its facility at Subang Airport last year. Malaysia Aviation Group (MAG) chief group managing director Izham Ismail revealed the number in an interview with local media. MAG is the parent company of Malaysia Airlines. “Malaysia Airlines loses engineers to SIAEC? Yes, we do but not in great numbers as per the heavy chatters were chattering about,” Izham told Malaysia's Business Times. Online discussions over alleged poaching of employees by SIAEC began after Malaysia's Transport Minister Anthony Loke on August 28 shared that 63 qualified engineers from Malaysia Airlines' engineering unit, MAB Engineering Services, had departed the firm out of a total of 411 since January this year. Izham went on to say that MAG's engineering division is hindered by a 40-year culture that is hard to change. “My number one priority that I'm doing is resetting [the engineering division],” Izham said, adding that he wants to give it a fresh start by incentivising productivity.
REGULATION
China fines PwC $62m, adds six-month ban, over Evergrande audit
PwC Zhong Tian, the China unit of the Big Four accounting firm, has been fined $62m and suspended for six months, over audit failures related to bankrupt developer China Evergrande Group. The fine, issued by the Ministry of Finance and the China Securities Regulatory Commission, is the largest levied by the office. The ministry said PwC "knew that Evergrande Real Estate made material misstatements in its financial statements for the years from 2018 to 2020," and that it "failed to point them out, issuing an inappropriate audit opinion and a falsified audit report." Evergrande’s default in 2021 set off a chain of collapses of Chinese property developers and triggered a housing crisis that authorities are still trying to resolve. In other PwC-related news Vialto, the global tax and immigration consultancy it sold in 2022 to Clayton, Dubilier & Rice for $2.2bn, is planning to restructure $1.5bn of debt loaded onto the business by the private equity firm.
WORKFORCE
Samsung workers to continue India plant strike after talks end without deal
Samsung Electronics employees are on their fifth day of strike after failed negotiations between their union, management, and the Tamil Nadu state government. Union leader E Muthukumar said: “They (Samsung management) asked us to stop striking, but would not recognise the union or talk to us, so the strike continues.” The workers, protesting near the company's factory in Sriperumbudur, are demanding union recognition, higher wages, and reduced working hours. The plant is crucial for Samsung, contributing 20% to 30% of its annual revenue of US$12bn in India, a key market for the company. Despite the government's efforts to mediate, the situation remains unresolved.
LEGAL
China to train 3,000 foreign law enforcement officers to protect overseas interests
China's Public Security Minister Wang Xiaohong says 3,000 foreign law enforcement officials will be trained over the next year to enhance global security and protect Chinese interests abroad. Speaking at the 2024 Conference of the Global Public Security Cooperation Forum, Wang emphasised that China will send police consultants to assist in improving law enforcement capabilities and tackling cross-border crime. He said: "China has worked with all parties to implement in-depth global security initiatives." The conference, attended by over 2,100 participants from 122 countries, focused on building a global public security community. Wang also expressed China's willingness to cooperate with nations like Malaysia, Myanmar, and Russia in combatting telecom fraud and drug trafficking. The initiative aligns with China's broader goal of enhancing its role in global governance and security.
HIRING
Companies in India say freshers aren't job-ready
A study by HirePro suggests a stark contrast between employer expectations and academic perceptions of student readiness in India. While 70% of educational institutions believe their graduates are well-prepared, only 16% of companies concur. The report highlights that 71% of students feel a high CGPA (Cumulative Grade Point Average) is insufficient for employment, and are advocating for a stronger emphasis on technical skills. Furthermore, over half of the surveyed companies expect candidates to possess skills in generative artificial intelligence. The findings underscore the necessity for enhanced partnerships between academia and industry to create effective job-ready programmes. To improve employability, students are encouraged to pursue relevant certifications, network strategically, and gain practical experience.
HEALTH & SAFETY
New initiative to improve workplace safety in Singapore
In Singapore, a new initiative by the WSH Council aims to reward contractors and sub-contractors for enhancing workplace safety and health (WSH) practices. The Council has appointed 18 leading firms, including Micron Singapore and SMRT, as WSH Advocates, to ensure fair recognition for small- and medium-sized enterprises. Manpower Minister Tan See Leng said: “Good WSH must mean better business opportunities,” and highlighted that companies prioritising safety will have better chances of securing government contracts.
REMOTE & HYBRID WORKING
Review of award that would allow more Australians to work from home
The Fair Work Commission (FWC) is currently evaluating the inclusion of work-from-home rights in the Clerks Award, which affects over 1.8m clerical and administrative workers in Australia. With ABS data indicating that 37% of Australians now work from home regularly, this review could significantly impact the future of flexible work arrangements. Dr Gabrielle Golding from the University of Adelaide said: "It could provide a significant shift in the dial of giving employees more ownership and more say of how, when and where work is performed." The FWC hearings are set to begin, with submissions due by March 2025. While some, like Jessica Tinsley from the Australian Chamber of Commerce and Industry, argue that extending these rights may be excessive, others, including ACTU secretary Sally McManus, believe it will empower workers to request home working arrangements.
INTERNATIONAL
British Airways apologises after staff member wore Palestine flag badge
British Airways has issued an apology after a staff member was spotted wearing a Palestinian flag badge shaped like a black power fist while on duty at Gatwick Airport. A passenger complained, prompting BA to respond that it is "proud of our uniform and of the diversity of the staff who wear it," referring to the badge as a “symbol of faith.” However, following a complaint from UK Lawyers For Israel (UKLFI), which warned that such political symbols could breach equality and anti-harassment laws, BA acknowledged errors in its initial response. Caroline Turner, director of UKLFI, said: “It should be obvious to airport managers if one of the staff is sporting an unauthorised Palestine flag or other political badge.” BA confirmed that its uniform policies prohibit political symbols and gave an assurance that the staff member would not wear such items in the future.
PwC to cut 1,800 US jobs
PwC's US unit is laying off around 1,800 workers, and is restructuring its technology group, in the face of slowing demand for some of its advisory services. “There will be an element of resource action that will impact a relatively small proportion of our people, something that is never easy,” Paul Griggs, PwC’s US leader wrote in a memo to staff on Wednesday. “Ultimately, we are positioning our firm for the future, creating capacity to invest, and anticipating and reacting to the market opportunities of today and tomorrow." In-house technology staff will be “embedded” into the firm’s core service lines while the firm targets technology investments toward “key assets.” New technologies like generative artificial intelligence and streamlined business services functions are among priority areas for the firm.
Stellantis offers furloughed employees discount on Maseratis
Stellantis has come under fire for offering furloughed workers special conditions to purchase a Maserati, a move described as "an insult" by former industry minister Carlo Calenda. He said: "Stellantis offering Maseratis at special prices to furloughed workers is not only an insult, it also shows that it is a company in disarray." Critics, including Marco Grimaldi from the Green-Left Alliance, questioned the company's approach to union relations, labelling the offer as a "joke that's in very poor taste." Many workers on the automaker's Maserati line in Mirafiori are currently on a solidarity contract with an 80% reduction in working hours until the end of 2024.
OTHER
Durex aims to boost condom sales in India among women, rural consumers
Reckitt Benckiser is pursuing a new strategy in India regarding its Durex condom brand, to attract more women and rural consumers. Senior vice president of intimate wellness Pankaj Duhan says the company is reformulating products such as lubricants aimed at attracting women consumers, and has new marketing campaigns. The India condoms market is currently dominated by Mankind Pharma, which makes Manforce, followed by Reckitt and TTK Healthcare.
 


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