A Simple Update

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Spring: A season of changes and farewells

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Since I became a heavy user of Facebook (will be light one once my work starts to pile up), updating my blog seems to have become like a burden since I will be repeating all the stuff that I update in the status in Facebook but I guess it is good to keep this page alive for other readers who aren’t in Facebook. To keep this post simple, since I have other tasks in mind to do, I will just sum up the core events that has been happening in my life lately. Till my next post, stay tune.

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  • First: I’ve graduated on the 25th March 2009 and I am officially a master degree holder in Engineering.

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Graduation ceremony Pic 1

Me at the graduation ceremony with Teruko and Jose

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The certificate I worked for 2 years

The certificate that I earned after 2 years of hard work

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  • Second: I’ve bid my two Malaysian friends farewell who were going back to homeland for good.

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Farewell gathering for Ching Foa and Darren

Farewell gathering for Ching Foa and Darren

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  • Third: My work life with GE began officially on the 1st April 2009.

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My fellow colleagues

Me and my fellow super-talented colleagues

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My name plate

Am officially with GE, the company that values “imagination at work”

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One step closer to becoming an official staff of GE

A step closer to my dream

Me with a peace sign at GE podium

Today marks the day that I am one step closer to becoming an official staff of GE. The whole reception today started off with a simple rehearsal and then, continued with the introduction of all the pre-offered. In between, we had a couple of CEOs from different businesses who gave us the welcome messages saying how proud we should be to be able to join the GE family. Had an absolutely enjoyable time with my future colleagues and this makes me really want to start working as soon as possible ! It takes time to explain everything that happened today so I am leaving you with the pictures to explain to you. Enjoy them ! 🙂

GE Pre-offered 2009 Batch Reception Event

URL: http://www.new.facebook.com/album.php?aid=36528&l=f94d9&id=695687901

Good news for me

GE Looks to Tap Local Financial Market

From Bernama

KUALA LUMPUR, July 21 (Bernama) — General Electric International Inc. (GE), is looking to tap the Malaysian financial market in a bid to expand its presence in the country, said its market development director, Megat Shahrul Azmir Nordin.

“The GE group at present, does not have a presence in the Malaysian financial market. But we are looking for an opportunity to work with local banks,” Megat Shahrul told reporters after a luncheon talk on “Developing, Inspiring & Retaining Great Leaders – the GE Way”, here Monday.

Megat Shahrul however indicated that, no formal discussions had yet materialised with regards to GE’s plan.

GE Group via its financial arm, GE Money, is involved in banking and credit services to consumers, retailers and mortgage lenders in nearly 50 countries.

Asked if the company was eyeing mergers or acquisitions, Megat said: “We are open to these prospects. But we believe working together is better than setting up new structures.”

GE is one of the worlds largest corporations with a market capitalisation of US$330 billion.

In Malaysia, GE investments exceed RM1.0 billion. GE works closely with local infrastructure providers – supplying equipment and services – such as Tenaga Nasional, Petronas, Malayan Railways (KTM) and local water authorities.

In June this year, the company invested US$5 million for the expansion of its aircraft engine overhaul and service maintenance shop in Subang. It also added the capability to repair and overhaul the high performance, low risk CFM56-5B aircraft engine.

Megat Shahrul explained that GE was delighted to continuously invest in Malaysia, as the country was highly forward looking.

“In the Iskandar Malaysia economic corridor, for example, we are working closely with the UEM Group and look forward to supplying high technology equipment.

“GE is always supportive of the Malaysian governments effort to develop the country,” said Megat Shahrul.

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As most of you already known, I will be working for GE Japan under the Financial Management Program (a prestigious GE program to nurture future global financial leaders, so to say) from next April and reading this piece of news, which was forwarded to me by a good friend of mine who’s also in GE Japan already under the same program (not disclosing his name for privacy but for those people who know both him and me would probably know who he is already by now), gave me some assurance that I am taking the right step in choosing GE as the start for my career. First of all, I was surprised to hear that GE’s not in the Malaysian financial market yet and getting myself prepared here in Japan under this very program for when they do start off in the Malaysian financial market, it does sound like something good.

Anyway, I have always wanted to be in the business area since young and after coming to Japan, I realized I wanted to go further on globally to see the world and at the same time, being involved in the development of a new business back at home. I had other choices besides GE FMP like venture capital in the local internet business (which did sounded real good as well because it was a chance to pioneer a new area from Japan) but I am glad to have made the choice because it is by far, the best choice I can make since it has cleared up all the conditions of what I wanted as an ideal future career. Tough it maybe, but I am up for the challenge. So, I consider this piece of news, a piece of good news for me to read. Thanks, buddy, you know who you are and I think this is just the good chance for the two of us, who had made the choice.

GE looking to sell appliance division

GE looking to sell appliance division

Thursday, May 15, 2008

General Electric is planning to sell its appliance division, one of the oldest businesses in the conglomerate’s 120-year history, people briefed on the proposal said Wednesday.

A sale of the unit, which makes refrigerators, microwaves and washer-dryers, among other items, could fetch at least $5 billion, these people said. GE and its investment bank, Goldman Sachs, have been laying the groundwork for an auction over the last few weeks.

The appliance unit, which helped make GE an American icon, may end up in foreign hands. Wall Street bankers are rushing to lay claim to potential bidders, and the expected suitors include Haier of China, which bid on Maytag two years ago; LG Electronics and Samsung, both of South Korea; Bosch of Germany; Electrolux of Sweden, which makes Sears’s Kenmore line of appliances; and Controladora Mabe, a GE partner based in Mexico.

The sale would mark the end of a brand of household products that made General Electric a fixture in American homes over the last century.

Jeffrey Immelt, its embattled chief executive, has been trying to refashion General Electric in the face of widespread calls to break up one of America’s largest companies. That mission has taken on greater urgency with the credit squeeze and the slumping economy, which have affected many of GE’s businesses.

The division, based in Louisville, Kentucky, has faced increased pressure in recent years from Chinese manufacturers, which have been growing at double-digit rates thanks in part to significantly lower costs.

Asian manufacturers are expected to be particularly drawn to the division, seeking to take advantage of GE’s widely known brand name as they try to become global businesses. Lenovo, the Chinese electronics company, successfully acquired IBM’s personal computer division in 2004, in part to help establish itself on the world stage.

As part of a potential sale, GE is likely to hand over a license to use the GE brand for a short period of time, the people briefed on the proposal said. After the initial license for using the General Electric brand expires, the buyer of the appliance unit would be allowed to continue to use the Monogram and Profile badges.

The arrangement is similar to the way Lenovo held onto the IBM badge for several years before using its own.

The news was first reported on Wednesday by The Wall Street Journal on its Web site.

GE’s once high-flying stock price has fallen 20.5 percent during Immelt’s seven-year tenure, and many analysts and investors have called for transformational changes at the corporate behemoth. Last year, it sold its plastics business to Sabic, the big Saudi Arabian industrial company, for $11.6 billion.

Immelt’s critics long have urged him to consider more unit sales, including the appliance unit, NBC Universal and GE Money, the company’s consumer finance unit. The company has focused on higher-growth technology businesses of late, moving out of consumer-oriented operations. GE’s light bulbs, however, continue to be made by the company’s lighting division.

That critical chorus grew louder and more insistent last month when GE’s first-quarter earnings badly missed analysts’ estimates and its own projections.

GE’s stunning announcement, made more notable by its status as a barometer of the economy, shook Wall Street’s confidence: the company’s shares fell 13 percent that day, its biggest one-day loss in two decades. Even worse, for a company that prided itself on meeting expectations, GE was forced to cut its projected earnings growth for this year to 5 percent from 10 percent.

The appliance business generated $7 billion in revenue last year, only a small fraction of GE’s $173 billion in total annual revenue, but divorcing it from the company would carry great historical import. Begun in 1907 as a maker of cooking and heating appliances, it has since grown to manufacture a broad range of products. Among its firsts are the room air-conditioner (1930), the combined washer-dryer unit (1954) and the toaster oven (1956).

As of last year, the appliances unit had about 13,000 of GE’s 327,000 employees.

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My dear American friends, how do you really feel when reading this piece of news ? Some may find it surprising and some may find it depressing. Some journalist said that GE is selling its soul. This is just simply because the home appliances that American consumers are used to might just be handed to a foreign company and it is true that it is sad to see that there is no American companies among the bidders of this major auction handled by Goldman Sachs. Plus, GE is going to let go its most historical business line which will cut off a big connection to the general consuming public. It was also surprising to see that Japanese companies are not making a move in this bid. $5 billion to $8 billion, this is one big deal so only super growing companies who wants to be global and want to have a chance to control the American market are into it.

Anyway, I am not sure about the home appliances situation in the States. Are your homes filled up with GE appliances or mostly from foreign countries’ brands ? Although most of these are manufactured in China, I wonder how the American brand itself really means to the people of US. We, in Asia, as long things are cheap and of reliable quality, we would choose that. It’s just that simple here. So, naturally, Japanese, Korean and Chinese products fill our homes here in our side of the world. Americans reading this article, please let me know how you feel and I would be grateful to get some input on the current consumer home appliances situation there. According to this article, “Ask many Americans what they associate with General Electric and they’ll give you two words: light bulbs and ovens. Ask investors what they would like to see GE dropkick from its family and you’ll often hear the same words.”. Let me know how true this is. Thanks and peace.

GE FMP Prospective Employees Gathering Party

GE FMP Prospective Employees Gathering Party

Anassa, the venue for the gathering party

I’ve just received an e-mail from GE just now regarding a gathering party for the prospective employees of FMP for the year 2009. According to the e-mail, it will be held at a Mediterranean cuisine restaurant which is situated inside the Akasaka Biz Tower in the newly opened area called Akasaka Sacas. I’ve already confirmed my attendance on that day which is going to be on the 24th April and am really looking forward to it because on that day, we will be meeting the Finance Leaders of GE Japan who will be our mentors for the program. This is my first time trying out Mediterranean food and that is also something I will be looking forward to as well. I guess the best thing of all, I will be meeting all of my future colleagues (if they all do attend) and definitely this gathering would really make me feel that I am already a part of GE. Yippee ! *hehe*