Inter-Research And Studies (IRAS)

More than 60% of Malaysian workers felt that they were not spending enough time with their families due to long working hours, a survey by online recruitment firm Jobstreet.com revealed. Nearly three-quarters of those surveyed said that they worked extra hours daily – two to five hours beyond their scheduled time to leave the office. Overtime was inevitable, due to unreasonable deadlines and work overload, resulting in nearly 75% choosing to stay late at the office. Most of the respondents, however, complained that they were not paid for the extra hours. More than 60% felt that their employers were not interested in ensuring a work-life balance. One respondent said, "Even if my company has work-life balance initiatives such as a gym, a chill-out area and other organised social activities, it's there in place just for show. "We don’t have sufficient manpower to sustain the workload.” And bosses, apparently, do not leave their employees alone when they are...

Canada blocked Malaysian state oil company Petronas’ C$5.17 billion (RM15.8 billion) bid for  gas producer Progress Energy Resources Co yesterday, a surprise ruling that could have implications for a much  bigger offer by China’s state-owned CNOOC for oil producer Nexen Inc . “I can confirm that I have sent a notice letter to Petronas indicating that I am not satisfied that the proposed investment is likely to be of net benefit to Canada,” Christian Paradis, Canada’s minister of industry, said in a late-night statement. Petronas has up to 30 days to make additional representations that could make its deal more palatable. Petronas said it was not ready to make any comment. “Due to the strict confidentiality provisions of the (Investment Canada) Act, I cannot comment further on this investment at this time,” Paradis said. The Petronas bid for Progress had not been expected to run into hurdles in a review process that asks the government to exami...

DRB-Hicom Bhd will announce a working plan to remedy problems faced by national carmaker Perusahaan Otomobil Nasional Bhd (Proton) next month, said its chief operating officer Datuk Seri Che Khalib Mohamad Noh. The plan is paramount and if not implemented could bring serious negative consequences to DRB, a major investor in Proton, said Che Khalib. “Proton is in trouble and if we don’t solve Proton’s problem, not only Proton would go down but the whole DRB will go down,” Che Khalib said after his presentation at the Malaysian Institute of Certified Public Accountant-Bursa Malaysia Business Forum in Kuala Lumpur yesterday. He, however, did not elaborate on the details of the problems faced by Proton. The problems, if not resolved, would affect its 11,000-plus employees and the whole automotive ecosystem surrounding Proton, he said. Meanwhile, a newswire reported yesterday that DRB’s group managing director Datuk Seri Mohd Kamil Jamil said Proton’s performance would have an impact on ...