Advertising Essay

Every day, whether watching tv, listening to the radio, or driving in the car, people encounter all sorts of advertisements. For as long as most can remember, advertising has been all over the place, and over time it has weaved its way into the day to day lives of society. The use of advertising is to grab one’s attention and to persuade them of something, usually to buy a service or a product. And whether we realize it or not, negatively or positively, advertisements affect people psychologically. Some of them use bright colors, others use statistics, and some use humor to grab one’s attention. One such advertisements comes from the gym, Planet Fitness. Planet Fitness attracts members by use of humor and by appealing to the physical and financial needs of the ‘average joe’ in their advertisements. In this commercial, there are young, fit women walking around the locker room talking about how hot they are and how hot they think each other are, all the while a normal woman of a little older age sits in her towel and witnesses their conversation. You can tell that she’s clearly uncomfortable with being in the situation. She then goes on to tell the fitness instructor â€Å"†¦ And that’s why I don’t like gyms† and the instructor responds with â€Å"Well, we’re not a gym. We’re Planet Fitness†. So they understand that not everybody that goes to the gym is a big muscled hunk, and that sometimes it can be a little uncomfortable being around people that are like that. The way that Planet Fitness is built and the way in which they carry themselves, is that they make the customer feel that they are what’s most important to the company. They care about making you feel comfortable while being able to exercise in a public gym. Planet Fitness also understands that not everybody is made up of extra money. This is taken from the Planet Fitness website, â€Å"We don’t have any salespeople, and we don’t bother with all the extras like juice bars and childcare that drive up costs and can make a gym membership seem more like a car payment. Instead, we’ve boiled our business down to the things that you really want in a health club – clean, stylish, hassle-free facilities that are filled with tons of brand-name cardio and strength equipment, and a lot of happy people. If you’re looking for a comfortable, friendly place to exercise, and like a great deal, then you’ll love Planet Fitness. † (http://www. planetfitness. com/About-Planet-Fitness-Gym). They offer memberships for just ten dollars a month, which is an amazing bargain compared to other big name gyms such as the YMCA or 24 Hour Fitness. By offering cheap rates, it creates a great incentive for somebody to exercise at Planet Fitness. Lastly, Planet Fitness seems to appeal to women in this advertisement. It’s socially acceptable to say that women are looked at as being more sensitive than men when it comes to their appearance and body image. So in this particular ad, they show that the â€Å"normal† woman is very very uncomfortable in the locker room and it’s actually a deal breaker for her when it comes to going to the gym. So by showing this advertisement, Planet Fitness can attract more female customers just by letting them know that they won’t be judged at the gym and they can exercise with a peace of mind. With all this being said, it can be concluded that the advertisement by Planet Fitness is a successful one. By appealing to people’s wallets and through their understanding of the â€Å"comfort zone†, and having humorous commercials, they’ve established credibility with the public as being a welcoming, friendly gym all at a low cost.

Home-Style Cookies Case Essay

1. Briefly describe the cookie production process. The company uses batch processing system, wherein the process begins when the management gets orders from its distributors. Production schedules are then made which are based on the orders received. In the beginning of every shift, a list of the cookies to be made that day is delivered to the person in charge of mixing. The ingredients needed are activated through a master list containing all the ingredients to ensure accuracy. The ingredients are then transferred to the mixers then to a cutting machine. After that, the cookies are heated to an oven and moved to a cooling rack. When the cookies are all cooked, they are manually packed. Lastly, the packaged cookies are labelled and sealed. 2. What are two ways that the company has increased productivity? Why did increasing the length of the ovens result in faster output rate? First, the company has increased productivity by cutting the non-filled cookies diagonally, so more cookies can be baked any time. Second, automating the ingredients lead to reduction in the waste of ingredients and helps on the cut back with human error when mixing the ingredients. Increasing the length of the ovens result in faster output rate since it enables more cookies to be baked at once. The bigger the oven, the more cookies we can bake in it which means the faster the output rate. 3. Do you think the company is making the right decision by not automating the packing of cookies? Explain your reasoning. What obligation does a company have to its employees in a situation such as this? What obligation does it have to the community? Is the size of the town a factor? Would it make a difference if the company was located in a large city? Is the size of the company a factor? What if it was a much larger company? I think that the company is making the right decision by not automating the packing of the cookies. It should resemble the human factor in its product. One of the most important steps before packing the cookies is the removal of broken or deformed cookies. An automated process is unable to conduct this critical step. It is critical that this step is done as it would depict the image of the company producing a good product. All companies have a moral obligation  towards their employees. If the company has built on a structure that would help employees stay gainfully employed, the company should honor the commitment it has on its employees. A company that is committed to its workforce sends a message to the community that it cares and is dedicated to its employees. People of a community would be more proud to support such a company with integrity and commitment. Yes, the size of the town is a factor. If the company is located in a small town, it is much easier for them to penetrate the market and to actually show the values it has within its company. Yes, I think it would matter if the company is located in a large city, as it is quite challenging to catch more customers in larger cities, because of the increase in competition. Yes, the size of the company is a factor. The bigger the company is, the easier it is for them to hook customers, as the customers would perceive that it is already established and trusted. It would benefit the company more if it were larger, since it could hire more people and has capacity to help the community more. However, it is very important for companies to take note that whether it may be big or small it should always focus on productivity and efficiency to provide absolute customer satisfaction. 4. What factors cause the company to carry minimal amounts of certain inventories? What benefits result from this policy? Minimal amounts of inventories are caused by many factors. First factor is the quality of the cookies. Since the company is set on providing a product that is high quality and does not use preservatives or additives, they use minimal inventories to retain the freshness of the product and to avoid waste of resources. Second, lower inventory costs, the lesser the inventory the lower the costs. Third, less need for storage space, since there is minimal inventories used, minimal space is also utilized. Lastly, satisfied customers, because of the freshness and high quality of the cookies the company provides satisfaction to its consumers. 5. As a consumer, what things do you consider in judging the quality of cookies you buy in a supermarket? The main factor in judging the quality of the cookies is by its quality or freshness. Fresh or high quality cookies would catch more customers. Second, the ingredients, if natural ingredients  are used I would be more enticed to buy cookies. Third is the packaging of the product, its outer appearance tells a lot about a product. I would buy a product which has a really nice and neat packaging. 6. What advantages and what limitations stem from the company’s not using preservatives in cookies? By not using preservatives, the product would appeal more to customers, as more people now are health-conscious. It would also lessen the costs of the company, since fewer ingredients are needed. On the other hand, not using preservatives limits the shelf life of the cookies. 7. Briefly describe the company’s strategy. Mainly, the company focuses on providing high quality cookies that appeal to a particular market niche. The company also centers on its customers and employees. Through this, it gives a possible effect on its community and gains the support of the people.

Low Inflation Rate Of Australia

Inflation is a rise in the general level of prices of commodities. Inflation is a major economic issue in Australia, and is one which requires stable management for durable and long-term improvements. Low inflation and steady economic growth; have emerged as outstanding economic achievements this decade. Along with unemployment, economic growth and external viability; inflation acts a major economic indicator, illustrating the strength and stability of our economy. It is for this reason that inflation management has played such a great role in domestic economic policy over the last decade. Inflation at present is the focal point of the Australian economy. Inflation is at an unprecedented low, which has acted to keep the Australian economy competitive. Economic policy in Australia has acted to keep inflation low, which has been a traditional problem for decades. At present Australia's, underlying inflation rate is less than 1. 3%, which has opened up a stronger, more competitive export market. With such a pleasing outcome for inflation, Australia can reap the rewards through lower interest rates as well as economic growth, and job increases. Low inflation does more than simply slow price increases; it acts as an expansionary booster to the economy and a stimulus for other economic objectives. In recent times, low inflation levels have characterised the Australian economy. The underlying inflation rate was only 1. 1% to June 1999, and this has meant further stability of prices and continued growth. This result has come on the back of Australia's â€Å"Inflation Target†, set by the Reserve Bank (RBA) in 1993. This has acted as a guide to spending and domestic monetary policy, over the course of the economic cycle. The RBA has set an underlying inflation target of 2-3% per year, and this has contributed to our steady inflation performance. In the late 1990s, Australia has operated at the lower level of this target, and this has pleased the government and the RBA through their initiative. Inflation figures of fewer than 2% annually are testament to this. Recent trends have given Australia one of lowest underlying inflation rates in the OECD group, which includes many highly industrialised nations. Over this century Australia, has seen both high and low inflation. In the 1950s, 1960s and early 1970s we experienced periods like today. Yet we faced high levels in the 1970s and 1980s. These were due to the great peaks and falls in the economic cycle, brought on by recessions and boom periods. The Australian economy has developed by adapting to changes in the economic cycle, and flattening out the large â€Å"bumps†. Causes of inflation are varied in both their diversity and severity. They include excess demand, where high aggregate demand for commodities forces prices upwards. There is also cost-push inflation, where an increase in the cost of production promotes an increase in the price of goods for consumers. Inflation can also be brought about through inflationary expectations, hence the quote â€Å"Inflation breeds inflation†, as well as currency depreciation, which also damages exports. The numerous causes of inflation give testament to the fact that it is a difficult problem to combat. Increased levels of inflation also cause many changes in the economy. There are essentially three main negative aspects of high inflation. It acts by reallocating resources in the economy, usually by encouraging speculative investment. It also causes redistribution of wealth from those who hold cash funds, as opposed to property or capital. Thirdly, it causes decreased levels of international competitiveness. Conversely, there are many positive aspects of low inflation. Australia has gained through lower interest rates, high but steady economic growth and the promise of job creation in the future. Low inflation has bred a more confident economy, one which is wiser for the adversity it has faced through recessions of the past. Low inflation creates a more externally viable economy, and allows competitive export growth. Australia's current low level of inflation can be attributed to an array of factors. These have included the lagging effects of the recession earlier this decade, as well as the implementation of a number of recent economic policies. Current low levels of inflation are the product, of three main policy initiatives. First and foremost, Monetary policy has helped our inflation by keeping spending in check. Through interest rates, and the adoption of an inflation target, the RBA has been able to artificially control the level of economic activity in Australia. Monetary policy has been a favoured government option, and it has proven a success. Secondly, micro-economic reform has played a major role in keeping inflation low. It is essentially based on efficiency and productivity in the Australian industries, where it has aimed to help firms lower costs, thereby creating a stable economy based upon strong and efficient production, healthy exports and generally more economically sound industries. This decade it has included moves for a national competition policy, deregulation of industries as well as general moves for efficiency. Fiscal policy is the third policy option. It surrounds government spending and taxation initiatives. In recent times it has acted in a contractionary manner, including budget surpluses and the repayment of foreign debt, which have allowed for more expansionary monetary policy. Some feel that currency policies aren't doing all they could. While drives for efficiency are a step in the right direction, it is clear that monetary policy could be eased to benefit other economic objectives. Being below the RBA target for inflation should allow Australia to lower interest rates. These could help economic growth and achieve greater job expansion. This could easily be achieved if the government would diversify its one-eyed monetary policy. The coalition must begin to realise that low inflation is coming at the expense of other, equally important economic objectives. While tight fiscal policy may be paying off foreign debt, we are still faced with high unemployment and unfavorable CAD terms. It is clear that while inflation is at a low level now, we must turn more attention to other pressing economic objectives. Inflation is a major economic management issue, and is one which requires great vigilance and perseverance for durable improvements. Though through the efforts of the RBA and the current government, inflation has fell to an unprecedented low, via much agony and policy deliberation. At present inflation has been brought back to earth through monetary and micro-economic policy essentially. Yet the pressing issue is not how far we can go with inflation, but how much can it's current level benefit our other major management issues.

PERSONAL ETHICS ACTION PLAN Essay Example | Topics and Well Written Essays - 2000 words

PERSONAL ETHICS ACTION PLAN - Essay Example Leadership is taking ownership and responsibility for tasks. Service is caring and helping. Character is what builds when all these three work in cohesion. Section Four: The Most Pressing Ethical Issues for Organizations (Employee Rights & Discrimination) (3 pages) The most pressing ethical issues for organizations today are probably employee rights and discrimination, which will be examined here. Obviously, in today’s job market there are a lot of employee rights being violated and discrimination which is being conducted indiscriminately and, unfortunately, frequently throughout the average workplace. He who wakes up early will surely find his â€Å"bread,† or daily living, according to Holy Scriptures. However, it is the government relying on what Gustavo Gutierrez (1999) termed the â€Å"preferential option for the poor† to take shape is what is most frustrating. The government doesn’t seem to know what to do about unemployment, and frankly neither do p oliticians of either major party. It is very frustrating. The amount of good, middle-class paying jobs have significantly been reduced, and quite a number of jobs which are boosting employment statistics include many unskilled or low-skill jobs such as jobs at McDonald’s (the fast food chain), and other such forms of employment. This was just some background to demonstrate what is happening in our economy. Basically the rich are getting richer—remember the tax cuts for the top 3 or 4 percent of the wealthiest people in the U.S. who own a majority of the nation’s wealth? And obviously, the poor are getting poorer. One in seven Americans is living below the poverty line. Now, for someone to have to live below the federal poverty line, basically you have to make a certain lesser amount than what would generally be considered middle-class. Many college students have had to go back to live with their parents—in some cases, even after they have gone to grad sch ool and maybe have gotten married†¦with children. Thirty million Americans are currently on some form of government TANF aid like food stamps. When the food runs out, what will people do? They might riot. Cities could become desolate, Chicago could become Detroit†¦it is all a domino effect just waiting to happen. The cities would become breeding grounds for violence. Basically, the fact that the average American worker has little or no say in his or her paycheck, or interest in his or her work, is severely limiting the potential of what this nation could truly do—if the Administration puts people to work, for example, in a Great Depression era-style public works program like the WPA, employing people from all walks of life. Something must be done now, as in—immediately! People need jobs and the fact that there are gaps on some peoples’ resumes are now grounds for discriminating against hiring people. Peoples’ work histories do not fit neatly int o bubbles. Many people go through periods in their lives where they were perhaps living at home with their parents, and were perhaps going to school and were not employed—even if it’s just for one summer. The solution is, there are no easy solutions to employee rights and discrimination but we as a country must come together and solve these problems or they will continue to worsen. Basically, what has to

Irresponsibility in High Fidelity by Nick Hornby Essay

Irresponsibility in High Fidelity by Nick Hornby - Essay Example The paper tells about Rob’s irresponsibility that emerges through his lack of commitment, self-destructive attitude and lack of initiative. At the beginning of the novel, the narrator lists his five prior breakups. This breakup portrays the narrator’s inability to sustain a relationship. He seems to be looking for something more that he cannot understand. The first breakup is with Alison Ashworth whom he dated for a few hours. Robs then dated Alison Hardwick, a year after his first breakup. Hardwick could not give into his sexual demands leading to a breakup. Rob, still eager for a relationship, steals his friend’s girlfriend who was called Jackie Allen. This relationship lasted only a few weeks after which Allen left him for his prior boyfriend, Phil. His fourth relationship ends in a breakup as well. The girl in the fourth relationship is Charlie Nicholson whom he met in college. Rob kept thinking that she was too good for him and that she would eventually leav e him for another person. They eventually break up. Rob still earns for relationship and meets Sarah Kendrew, who like Rob, hurts from a breakup. Rob and Kendrew swear to live together forever but Kendrew meets another person and leaves Rob. This string of breakup portrays Rob’s inability to commit fully in a relationship. Numerous breakups may motivate one to get into a mature sustainable relationship. However, Rob wants to be free so that he can act as he pleases. He also wants to enjoy an intimate relationship with a woman. This is irresponsible because he should take some time to assess his feeling and decide on the best course of action. Instead, he is contented by the initial infatuation and intimacy with a woman. After staying with a woman for a while, he starts questioning himself whether the woman is right for him. Rob usually finds reasons to leave her than stay in the relationship. This also happens with Laura, his next girlfriend (Knowles 14). The author uses the numerous girlfriends who broke up with Rob as a symbol to indicate his lack of commitment. His love for music symbolizes his loneliness and need for fulfillment. It is ironic that the author calls the novel high fidelity to highlight commitment to a marital relationship though Rob is committed to himself. Rob’s inability to commit does not apply to relationship but also other aspects in his life. For example, he dropped out of school due to the inability to commit to schooling requirements. He has a music shop that does not reward him significantly though the business does not bother him. He is comfortable with his meager earnings so long as he can afford a meal and shelter. His actions are attributable to lack of commitment to his responsibilities, as well as, woman named Laura. In the event that he was responsible, he would have worked harder to improve his life. Laura eventually prompts him to think of other things that he may enjoy doing in a bid to generate money. A read er is likely to label Rob’s actions are irresponsible. The Commitments by Roddy Doyle depicts the power of commitment. Derek Scully and Foster commit themselves to forming a band though they know little about music. Regardless of their inexperience, they continue pursuing their dream. They sign in more members and struggle to make their dream come true. On the contrary, Rob does not seem to put work hard at

The Impact of Technology on Education Essay Example | Topics and Well Written Essays - 1250 words

The Impact of Technology on Education - Essay Example A survey in the US high schools showed that about half of the public school teachers who had access to computers and Internet available in their schools used them for classroom instruction. About 61 percent of the teachers assigned students to use these technologies for word processing or creating spreadsheets most frequently, 51% used Internet research, 50% applied them in practicing drills, and 50% solved problems and analyzed data using the technologies available. Furthermore, many teachers used computers or the Internet to conduct lots of preparatory and administrative tasks such as creating instructional materials, gathering information for planning lessons, and communicative tasks (Smerdon, Cronen, Lanahan, Anderson, Iannotti, & Angeles, 2001). Generally, there are a lot of benefits the use of technology has brought in teaching-learning process. The impact can be assessed both on the learners' and the teachers' side. In the one hand, the National School Board Associations of the United States reported that the availability of technology often stimulates teachers to present more complex tasks and materials which could not be handled using conventional methods and processes (NSBA, 2008). Furthermore, the NSBA (2008) reported, introduction of technology will tend to support teachers in becoming coaches rather than dispensers of knowledge, increases teachers' sense of professionalism and achievement and motivates students to attempt harder tasks and to take more care in crafting their work. There are concepts in education, particularly in the areas of science and mathematics that require complex representations, which could not be done in the conventional ways. To address the difficulties in teaching these concepts educator of tentimes uses instructional technologies like film (cited in Linn, 1998, p. 269), computer models, and other systems. Garofalo, J., Drier, H., Harper, S., Timmerman, M.A., & Shockey, T. (2000) reported that a crucial component of technology application in education is enabling the teachers. Technology is useful for learning but the efficacy of the systems applied depend on the competence of those who handle them. In the other side, the benefits of technology on the learners are vast. A 1990 University of Michigan study reported that children could gain the equivalent of three months of instruction per school year when computers are available to them. Electronic drill and practice programs make children better spellers. Intensive preparation programs raise SAT scores. So-called integrated learning systems, which deliver entire curriculums to students sitting at workstations in a learning laboratory, practically guarantee that grade-point averages will go up, at least for a time (cited in Dewitt, 1991). Despite, however the vast promise of technology in advancing the learning process, there are cases reported when the application of technology did otherwise. Dewitt's (1991) article reported that the entire first-grade class in a tiny Belridge school district in McKittrick, California, along with more than a third of the 64-member student body, had scored below their grade level for both reading and math.

Ethics Essay Example | Topics and Well Written Essays - 250 words - 24

Ethics - Essay Example The line between doing the job and meeting some pre-conceived notion is not only immoral but also suggests the kind of society that exists. The roles have been wrongly defined and this is the reason why many people end up being discriminated on one context or the other, not necessarily because of their own doing. The human resource policy can address these issues by being very critical about any elements that are being seen as discriminatory. It can raise these points so that the anomalies are done away with at the earliest (Bellizzi and Hasty, 2001). More so when the organization wishes to send out advertisements, these must be checked by the relevant staff within the human resources management department to make sure that discrimination and its related nuances are not being conveyed from the realms of the organization. In essence, discrimination is a major issue that many organizations in this day and age face, and it would be significant to resolve this problem once and for

Managerial Acconting Essay Example | Topics and Well Written Essays - 2500 words

Managerial Acconting - Essay Example Product prices mean both fixed and variable factors and the cost unit bears a full burden of all the costs. The paper focus to illustrate the validity of the variable and absorption models of costs of production, which determines the levels of profitability of a product. It outlines the justification for difference in profits when using variable and absorption costing systems. It is imperative to note the main difference in profits when using variable and absorption costing systems. In absorption costing methods, fixed overhead costs are applicable to manufacturing costs, calculated per unit. That is, fixed costs divided by the units manufactured and sold over a period considered during costing. It results to the cost, per unit, of every unit that the firm manufactured or sold over a period. In variable costing, the fixed overhead is applied as a lump sum expense, rather than a unit. The fixed overhead include the summation of all variable costs such as raw materials and supplies among other costs. A sum of fixed overhead costs over a period is added. Instead of figuring the expenses on a unit basis, they are subtracted from the revenue as a lump sum figure. The unit profit calculated under absorption costing, therefore, is lower than that calculated under variable costing. Managements have interests that each product should have its total cost, both fixed and variable, and still generate profits. For every business, generating profits is the key target. If a product does not give benefits, then the management may consider discontinuing production over time. That implies that a product needs to recover all the costs involved in its production as well as provide returns to warrant profitability. Not all the goods provide the same contribution towards profitability. Some products may sell at a cost that covers variable costs to the maximum levels but fail to meet

Philosophy of Education Essay Example | Topics and Well Written Essays - 1250 words

Philosophy of Education - Essay Example I believe that Education is the key to success and it is through education that a person receives the fundamental skills and tools that are important in building a life that is successful and prosperous. The quality of education in a country will determine the level of its success and prosperity. Therefore, as a teacher I believe that it is important for every child to receive quality education. Although quality in education is something that cannot be achieved by the teachers only, I believe teachers play a major role in improving the education quality of a country. To improve the quality of education, teachers, parents and all stakeholders in education must work together. Quality in education includes the health and participation of learners, support from family and community, availability of good learning environment, content that is relevant in real life situations and teacher’s organization and proficiency. As a teacher, I believe that everyone has the ability to learn. However, for effective mastering of concepts and skills, a student must show interest in learning and willingness to participate in the learning activities. My work as a teacher is to provide good learning environment in the classroom and improve the quality of education. The arrangement or organization of the classroom can improve or inhibit learning depending on the learning patterns of each child. Therefore, by accommodating the students’ different patterns of learning, the teacher creates an environment that is conducive for learning. Although education has always been associated with economic growth, I believe that with better quality education the economic retu rns can be much higher. It is also evident that increased investment in education increases political stability, democratization, improves the health of the people and reduces poverty and inequality. Thus, I am strongly convinced that it is the role of teachers to ensure that the education provided in schools is of good quality so as to realize the maximum benefits of quality education. Young minds are very critical and delicate, and teaching them is challenging and frustrating. Any indication by the teacher that he or she is not interested in a particular subject or area of study and lacks passion for learning will make the children to lose interest in the same. A teacher must convince the children of his or her knowledge and expertise for them to be willing to learn and show interest in learning. My job, as a teacher is to develop an environment that promotes learning. I am a teacher and an instructor because I posses the passion for guiding children through the process of learnin g and one of the best ways of fostering learning is to show the children these feelings I hold over education. I promote learning by providing a relaxed atmosphere for children, stimulating conversations on presented ideas and organizing ideas in an easy way that can be understood by the learners. I believe subject matter are interconnected thus I emphasize that everything that people learn form a world of understanding from which they develop their personal views. I also believe that showing respect to my students is important because it encourages them to be open and inspires them to respect each other and all other people. My method of teaching is that which acknowledges diversity in teaching methodologies and techniques. I believe that hands on and minds on learning are important because supplementing curriculum with other activities promotes the learning process. I am certain that by involving the learners in fascinating lessons and making use of strategies which address their learning styles, they can achieve success in academics and have self confidence in the learning process. Learning only takes place when the children are fully engaged in the learning process, are personally connected to the concept taught and use the knowledge acquired in real life situations. Therefore, when this happens a child is encouraged to be engaged over and

Comparing The End of the Imagination and The Redfern Speech Essay

Comparing The End of the Imagination and The Redfern Speech - Essay Example Arundhati Roy and Paul Keating, to convince the audience to believe in what they are saying, used the strategy of adding emotional appeal to their evidence, and by doing so, has struck the deepest cord of their heart. It is not only the evidence, but the emotions and imagination attached to the evidence, which helps Roy and Keating to win the hearts of the audience, and hence, it will not be wrong to say that it is the emotions, and not just the evidence, that helps person to convince others in the process of communication. Arundhati Roy In her essay â€Å"The end of the imagination,† Arundhati Roy has expressed her strong views against the nuclear tests conducted by Government of India in 1998. Roy has taken aid of strong evidence, through facts, reasoning and future possibilities, to convince the audience about her disapproval towards the nuclear tests. The evidence that Roy has used to convince the audience are discussed below. The consequences of nuclear war The first stra tegy that Roy has used to prove her stand against the nuclear testing by Indian government is the description of the consequences of the nuclear war. Roy has described the horrors of nuclear war in a vivid language. Instead of just using the words ‘destructive’ or ‘harmful,’ she has clearly described how the villages, rivers, wind and human body will be affected by the nuclear war. This vivid description gives a ‘feeling’ of the horrors of nuclear war and creates a clear picture of its consequences. The picture of what really happens after the nuclear war, and how it affects the environment and human beings, shocks the reader. Hence, the clarity of the effects of nuclear war on human body, the atmosphere, on future generation through poisonous radiations and the effects on environment, works as a strong evidence to prove why she is against the nuclear testing. The second evidence Roy uses is by questioning the sanity of men who can get access t o the nuclear weapons. Suicide bomber psyche Indian government had given ‘deterrence’ as a reason for their decision to go ahead with nuclear testing. However, Roy has argued that the theory of deterrence has flaws in it. She has questioned Indian Government’s understanding of the enemy. Roy feels that one cannot consider the enemy to be similar to self. That is, she has expressed her concern over the terrorist groups who are not ‘deterred’ by the nuclear capacity of the enemy as they have a different psyche. She discusses the psychology of terrorists who are ready to die in order to kill. She calls this a ‘suicide bomber’ psyche. Terrorists are so strongly brainwashed to believe in their cause that they do not hesitate even a bit to destroy themselves in order to prove their point. They are ready to perish, and are insane enough to destroy millions of lives. Roy says that if the nuclear bomb gets in hands of such people, then the Ã¢â‚¬Ë œtheory of deterrence,’ proves baseless. To convince this point, she has provided the evidence of death of Rajiv Gandhi. Rajiv Gandhi, the Prime Minister of India, was assassinated by suicide bomber. Using his assassination as evidence, Roy questions the Indian Government’s understanding about the enemy psyche. Roy questions that when even a man of premiere stature like Rajiv Gandhi was not saved by the

Of Mice and Men Essay Example for Free

Of Mice and Men Essay Choice A When looking at literature through the lens of Marxist Theory, it is not just art to be passively appreciated; it is a product of the socioeconomic and ideological conditions of the time, even if the author did not intend for it to be. Because the writing is a reflection of the reality of the time in which it was written, Marxist critics examine the literary work to see if it either a) reinforces the ideologies it embodies (i.e. capitalism is great), or b) invites the reader to criticize the ideologies it represents. What does Steinbeck do with his novel, Of Mice and Men? Does he reinforce the idea of capitalism, or is this a criticism of it? In what way(s) does he either reinforce or criticize this ideology? Choice B: New Historical critics believe that literary texts are cultural artifacts that can tell us something about the belief systems and about the power struggles operating in the time and place in which the text was written. They can do this because the literary texts themselves are part of history. They shape and are shaped by their historical contexts. What does Steinbeck’s Of Mice and Men suggest about the experience of groups of people who have been ignored, under-represented, or misrepresented by traditional history? Choice C: Broadly defined, feminist criticism examines the ways in which literature (and other cultural productions) reinforces or undermines the economic, political, social, and psychological oppression of women. We live in a patriarchal society. Patriarchy is defined as any culture that privileges men by promoting traditional gender roles. Looking through a Feminist Theory lens, discuss the following questions about Of Mice and Men: How are women portrayed? Does the work reinforce or resist patriarchal ideology? How does the work define masculinity and femininity? Does the work seem to accept or to reject the traditional idea of gender?

Information security Essay Example for Free

Information security Essay Most organizations today are adopting and integrating technologies in their production with an aim of improving production, efficiency, profitability and the competitive advantage in the market. This has been accelerated by the increasing globalization and innovation of new technologies which pose a major competitive threat to many organizations. Also, formulation of environmental standards as well as increased expectation on the standards and quality of goods and services by both the government and customers has also necessitated adoption of new technologies to ensure this is met. New technologies in use today like the web 2. 0 and also the new internet as well as wireless technologies have led to increased efficiencies as well as increased productivity for most organizations. However, despite the advantages which accrue from introduction and use of new technologies in organizations, they pose major security threats to an organization. Data hijack by criminals as well as terrorism threats are some of the challenges that organizations are facing during new technology implementation processes (Bazelon, Choi Canady, 2006). Security issues in regard to new technologies implementation in an organization Security is a top concern for most business since it may lead to destruction of a company’s reputation thus affecting the competitiveness of an entity. With increased globalization and increased terrorist threats, security risks have increased posing a major threat to most organizations. One of the major threats that companies face while implementing information technologies are the risk of losing or protecting sensitive data. Information technologies especially via internet and other wireless technologies are accessible globally which poses a major threat to an organization. Organizations hold private and sensitive information regarding their employees, production processes and also marketing strategies which are vital for competitive advantage. However, with technology implementation, and the dynamism in technology, such data may be accessed by unauthorized individuals causing a business great harm in terms of profitability. This also exposes the employees as well as an organization’s customers’ at risk of fraudulent activities via technologies. Information security experts insist that just like information networks operate or cross borders with no regard for the provincial and national boundaries, also security vulnerabilities and threats pass in the same way thus necessitating greater and stern security measures to ensure that the threats are minimized (Hinojosa, 2005). Another threat that organizations are facing is terrorist attacks and threats. Currently, there are many terrorist groups which operate globally and they employ high technologies to carry out their tasks and to harass businesses and employees as well as the customers. An increase in global terrorist organizations in the world that are connected via the new technologies poses a major security threats to most organizations in the world. Terrorists may not only be interested with soliciting the financial and production processes of an organization, but also the structural and day to days activities of an organization with an aim of identifying weak areas or points which could be used to attack an organization. This is made possible by new technologies which enable then to tamper the security measures taken by an organization to ensure that it is protected (Sussman, 2008). Phishing and data mining is also another information security risk that is faced by organizations during implementation of technologies in an organization. Phishing refers to the unauthorized use of personal information of another person which is obtained through networks. It also involves alteration of an individual’s computer software with an aim of obtaining the computer owner’s personal information by scrupulous individuals and for the purposes of defrauding the person or harming their reputation or career. With implementation of new technologies in an organization, the entity is enabled to sell its goods and services online and all the transactions are carried without having to meet the customer or the client. While making the payments, a client gives his private financial data depending on the mode of payment which he or she uses. Computer criminals have a way of tampering with or gaining access of such information which they can manipulate to make purchases while pretending to be the clients. The business thus faces a risk of being sued by a client on such grounds and for lack of adequate protection measures. This has increased the cost of implementing technology especially with different cases of security breach being reported today. Organizations are supposed to ensure that the private information of their clients and employees are well protected and that their privacy is upheld despite the cost this may involve (Ena, 2008). Risk of loss of important documents by an organization has also been a major security issue while implementing information technology. Apart from the risk of terrorist threats and phishing, an organization also faces the risk of losing vital information through dangerous programs such as the viruses which are transmitted via the internet and other networks. If such programs find their way to the computers and other technologies in a company, a company may risks losing most of its vital information as these programs corrupts the whole network system in an area. This could be dangerous for and organization as it may lead of reduced productivity, increased costs and reduced earnings (Blankespoor, 2005). With increased awareness of information security threats increasing in the world, the attackers have changed their tactics posing even a major threat to an organization. Most of the attackers are usually professional information technologists who invent new methods of accessing data from an organization despite the security measures taken. As mentioned earlier, technology is changing at a very high speed and so are the security threats to an organization. The dynamism of technology is a risk which cost organizations heavily as they try to keep pace with it. While implementing new technologies, organizations are also faced with the problem of testing the validity of the technology. Most of the cases involving security breach end up being the problem in an organization. IT companies exonerate themselves by arguing that lack of adequate security policies in an organization are the major causes of any cost that an organization may incur (Wallace, Lusthaus. Kim, 2005). Conclusion Information technology is a major strategy that has enabled most of the businesses to perform well in terms of growth and expansion. New technologies have been on high demand in the recent past especially as most organizations go global which necessitates networking. Technology improves the efficiency, effectiveness and the overall productivity of an entity. However, it poses major threats to the privacy of a company as well as its clients and employees. Stern security measures should be taken to ensure that technology implantation in an organization does not turn out to be more costly. This can be done though formulation of technology security policies and procedures to ensure privacy is upheld.

Analysis of Awareness of Real Estate Investment Trusts

Analysis of Awareness of Real Estate Investment Trusts Investment in general, and property investment in particular, have been traditionally regarded more as an art than a science, where investors, decision-makers and analyst rely more on their experience, subjective judgement and quantified evidence. Real Estate Investment Trust or REITs is a new medium of investment specifically in property investment in Malaysia. Malaysia is the first country in Asia to introduce property trust and only in 1989 was listed in Kuala Lumpur Stock Exchange. The property trust was then facing some issues such as potential conflict of interest, a lack of focus on asset management and thin trading volume and then led the Real Property Investment Trust to be announced. REITs in Malaysia growth perfectly with stimulate the growth of property sector in this country. Malaysia then introduces the first of its new REITs, with the Axis REIT. YTL Corporation, Malaysias biggest builder, established the second REITs later, with properties in the REIT including the JW Marriott Hotel and Starhill Shopping Center in Kuala Lumpur. Besides that, other REITs that now established in Malaysia are Hektar REITs, Tower REITs, and also UOA REITs. Other companies in Malaysia that are expecting to join for REITs include Sunway City and the Landmarks Group. Most of the REITs companies in Malaysia own the real property asset such as shopping malls, hotels and also apartment buildings and they generate income from owning the building and also rental income from the buildings. The investors physically own a part of the building depending on the size of the share that they invest. Through REITs, investors can invest any amount that they want to own REITs. They can sell it anytime with the easiest way through stocks market. Compared to normal properties, the transaction cost of buy and sell REITs are much lower. But REITs does not like other unit trust, which is sold through agents or other peoples, but it is traded in stock exchange. So it gives return to investors in form of dividend and also capital appreciation from price change. This way, shows that REITs is a secured investment that protect investors interest and it works under the guidelines or frameworks that have been set up by government. Background: The investment characteristics of property are significantly different from the characteristics of assets in other investments. REITs in Malaysia is so attractive as Malaysia now is developing country. There is still a gap between Malaysia and others develop country in Asia. In order to put Malaysia in same level with Asia develop country, most of REITs managers are with option and plan to growth their property portfolio to trade or manage rental in order to achieve it. It also will give a better yield for investor if our country is same level with others. In order to improve market performance of REITs, the REITs Company should consider developing new opportunities, acquiring more properties into their portfolio and also to some countries, or joint developing property project. The relation of both legal frameworks and the market performance will give a picture to investor and other people who interested in this investment. The REITs sector need to provide more chance to other people to invest and it will help Malaysian generate more income others than monthly salary and to boost up economy in this country. Research Question: Finance in real estate is just a popular way of investment nowadays. The market performance of REITs shows the good results this few years. With the regulation that set up by government, surely REITs is the secured investment. But is there many people in Klang Valley that come from middle-income group realise about this investment in this develop country? Objectives: The main objective of this study is to determine the level of awareness towards REITs among middle-income group in Klang Valley. In line with above, this study also seeks to study types of REITs available in Malaysia Besides, these study also to discuss about the way to introduce REITs in Malaysia in order to make REITs the favourable investment medium. Scope of Study: In overall, this research is confined to REITs in Malaysia which in an attractive investment nowadays. This study covers the types of REITs available in Malaysia and also people awareness about it. Other than that, this study is carried out to know what is the way of promoting REITs that people prefer. Methodology: This research would be done in an analytic study manner. The information that is needed to examine the issue will be obtained from primary and secondary data. The primary data refers to the first-hand data, which required data collection that is the distribution of questionnaire. The questionnaire will be distributed to certain amount of Malaysian with a different background. Secondary data or desk research refers to the data that already exist, mostly in quantitative form. In this study, most of the secondary data were obtained from; Academic research on REITs and journals. Website of REITs Company. Other dissertations. Data analysis will be done through frequency analysis. Frequency analysis is used to determine the frequency of certain choice for the questions. Most frequent answer will be given the priority. The results will be shows in diagram or graph to show the popularity answers. Significance: It is hoped that the anticipated outcome of this study can benefit the: The REITs Company where they will more alert toward the middle-income people awareness of REITs and the way people wanted REITs to be promoted. The interested investor and also the student, as a reference on the information that relates to REITs. Organisation of Research: This study consists of five chapters where the first chapter provides a brief concept and view on the topic that will be studied in this research. It consists of introduction, objective of study, scope of study, significance on research and also organisation of research. Chapter two discuss on literature review about REITs in Malaysia. The discussion will be on definition of REITs, the types of REITs in Malaysia and also the list of REITs companies. Other than that, the discussion also will describe on how REITs work and also the benefit of REITs. The definition on middle-income people and background of Klang Valley also will briefly explain. The next chapter, chapter three is on methodology. In this chapter, methods used to construct the questionnaires will be outlined. This chapter will highlight how the administration of the questionnaire which will conduct to respondents. Chapter four is the finding and analysis of data obtained through questionnaires survey. The analysis of data obtained will determine the level of awareness towards REITs among middle-income people in Klang Valley. Through the survey, the preference way of promoting REITs also can be discover. The last chapter, which is chapter five, is the conclusion and limitation of this study. The best suggestion of promoting REITs also will be stated in this chapter. The weaknesses and strengths of the study may be included. Some suggestions for further study will also be included in this study. In the next chapter, a review of related information about REITs will be explained. The explanation will cover definition, types, how REITs work, REITs companies in Malaysia, the legislation of REITs Islamic REITs and also the future prospect of REITs. Chapter 2: Literature Review: LITERATURE REVIEW: REITs which stand for Real Estate Investment Trust is an investment that relates to properties. Trust fund has been introducing in this country since 1986, but REITS; a part of trust fund is a new medium investment only famous around few years back. REITs is an investment vehicle for investors to invest in large-scale income producing real estate. With the concept like unit trust, this investment gathers pool of money from all sizes of investors. REIT based companies will invest, manage and distribute rental as dividend back to the investors by yearly basis or depends on the agreement that have been signed before.REITs is a liquidity investment which It is being trade in Bursa Kuala Lumpur with ease of buy and sells back like a normal equity. As the years flow, REITs is not new to the world especially in many other developed countries. REITs usually targets for a long term investor with moderate risk such as insurance companies, unit trust funds and even individual investors. REITs invest in a variety of real estate properties such as office buildings, shopping malls, warehouses, apartments and hotels. The investor also has the added advantages of holding a liquid asset in the form of shares that can be sold on the market unlike the real estate itself which is illiquid. Investing in REITs provides the investor with dividend income and also allows them to own a real estate portfolio rather than just a single building. This chapter then will briefly explain about Klang Valley, middle-income group, history of REITs in Malaysia, types of REITs, how REITs work, and REITs companies and also about the legislation of REITs. Klang Valley: My research focus on awareness towards REITs among middle-income people in Klang Valley, Malaysia. Malaysia is located in Southeastern Asia, peninsula bordering Thailand and northern one-third of the island of Borneo, bordering Indonesia, Brunei, and South China Sea, south of Vietnam. It is comprised of two separate geographical regions which are Malay Peninsular and the states of Sabah and Sarawak. Klang valley is an area in Malaysia comprising Kulala Lumpur and its suburbs, and adjoining cities and towns in the state of Selangor. Tis valley is named after Klang River, the principal river that flows through it which is closely linked to the early development of the area as a cluster of tin mining towns in the late 19th century. Development of Klang Valley took place largely in the area between Gombak and Port Klang but the urban areas surrounding Kuala Lumpur have since growth towards the border of Negeri Sembilan and the north towards Rawang. Klang Valley has a total population around 7.6 million people in 2009 and estimated to growth due to the people migrate from other states towards Klang Valley and also a population growth. Klang Valley is the heartland of Malaysias industry and commerce. Regions of Klang Valley and their corresponding local authority: Federal Territory of Kuala Lumpur. Kuala Lumpur City Hall. Federal Territory of Putrajaya. Putrajaya Corporation. Selangor district of Petaling. Shah Alam City Council. Petaling Jaya City Council. Subang Jaya Municipal Council. Selangor District of Klang. Klang Municipal Council. Selangor district of Gombak. Selayang Municipal Council. Selangor district of Hulu Langat. Ampang Jaya Municipal Council. Kajang Municipal Council. Selangor district of Sepang. Sepang Municipal Council. For further information about the location of Klang Valley. Middle-Income Group: There are three classes of income in Malaysia. These classes indicate Malaysian monthly income and also their household. The three (3) classes including low-income people, middle-income people, and high-income people. Below is the income groups in Malaysia. Middle-class income is define as the socioeconomic class between the working class and the upper class, usually including professionals, highly skilled labourers, and lower and middle management.( Source: http://www.answers.com/topic/middle-class). Background of REITs in Malaysia: Malaysia is the first country in Asia to introduce property trusts. In 1989, the first trust was listed in Kuala Lumpur Stock Exchange. The regulatory framework of property trust, approved by the Bank Negara in 1986, was restrictive and provided no tax transparency. But there still an issues that arise such as lack of focus on property management and also conflict of interest which led the property trust to be private. In 1995, a revision of the property trust guidelines were done but it fail to give a good impact to investors and also to market. Then, in February 2005, there is another revision with led the property trust be renamed as Real Property Investment Trust (REITs). The major income of REITs is from rental and the profit is required to distribute to holders or investors in dividend. The guidelines also been revised to provide a good regulation for a REITs in this country. Malaysia was the first Islamic country to certify REITs and also the first country in Asia where REITs conquer agriculture land. A plantation REITs also much like conventional REITs. It will be the crops planted on the land and the success will depend on the sizes of assets injected to the trust. The potential plantation to be expected is oil palm because of the high demand on the production. Other than that, palm oil also undergoing the research to become a biodiesel product and in become more attractive after the increasing in oil prices. The plantation land or agriculture land also can be developed to residential area or commercial area due to the development of town. Types of REITs: REITs has several types with drives to a different prospect of REITs but it still relates to property as a main core to invest on. In others country they apply a lot of types of REITs. But in Malaysia we only apply three types of REITs. There are Equity REITs, Mortgage REITs and also Hybrid REITs. Equity REITs: Equity REITs is a publicly traded company that, as its principal business, buys, manages, renovates, maintains and occasionally sells real properties. (block,2006).Properties are usually purchased to invest is an income-producing real estate such as hotels, shopping malls and also apartment buildings. This type of REITs is different from others because REITs usually companies will purchase or develop the property and operate it as a part of their portfolio rather than sell it. Besides, Equity REITs is a long term investment because they earn dividend from rental. In additional, this type will let investors not only just to choose the type of property they want to invest in, but also the location of the properties. (Block, 2006). It means that the investors can make a choice on their own with the advice of the agent or REITs managers in order to make a good investment and to gain a good dividend. Mortgage REITs: A mortgage REITs is a REITs that focus on makes on holds loans to the property developers. (All about Investing: The Easy Way to Get Started by Esme Faerber: page 89). Rather than investing in properties,this type of REITs sometime loans money for purchase existing mortgages. The revenue earns is from the interest charge on the mortgage loans and pass on shareholders. Mortgage REITs is more sensitive compare than other REITs because of the prices of mortgage REITs react opposite from interest rates. It is good REITs to invest if there is a rumour of dropping in interest rates. Hybrid REITs: Hybrids combine the investing principles of mortgage and equity REITs, diversifying between making mortgage loans and direct property ownership. They earn both rental and interest income. (http://www.allaboutskyscrapers.com/REIT_types.htm). They buy, develop, and manage the properties and provide financing through mortgage loans. Most hybrid REITs have a stronger position in their financing account. The most famous industry that using hybrid REITs is private healthcare industries, where the financial company will provide mortgage to healthcare company, hospital management and also to buy properties such as land and building and also medical appliances. Equity REITs seem to be the most popular REITs recently. Between three types of REITs, mortgage REITs is the most risky which in involve in lend money to developers. Every type of REITs has different level of risk so investors should study and evaluate which REITs they want to invest in. The wise result will make the investors smile widely because of the big fish. Chan, Erickson and Wang (2003) find that equity REITs pay out more dividends than mortgage REITs. The reason is that equity REITs offer the potential for capital gains in addition to current income. Structure of REITs: Source: Practice and Prospect of Islamic Real Estate Investment (I-REITs)in Malaysian Islamic Capital Market by Dr. Asyraf Wajdi Dusuki. Manager: A man or woman who controls an organization or a part of organization. Property manager: A man or woman who controls the management and maintenance of the building. He or she will ensure the building in the good condition which safe to fit tenants in. Tenant: A person who pays money (rent) to the owner of a room, flat, building or piece of land so that he or she can live in it or use it. Trustee: A person who looks after money or property for somebody else. Unit holder: An owner of one or more units in a mutual fund. How REITs Works: Its true that investment most favourable today will be the one most prized tomorrow, and then real estate is definitely due for love-in. Investing in income-generating real estate can be a great way to increase your net worth. But for many people, investing in real estate, particularly commercial real estate is simply out of their budgets. REITs is a saviour to people when with REITs people can invest in small amount but with a large-scale of real estate group. REITs which means real estate investment trust essentially the organization that own and manage a portfolio of real estate and mortgages such as shopping malls, hotels, apartment buildings and also agriculture lands. REITs does not mean for a restrict group, but this share can be own buy anyone. REITs offer people the ownership of the property without any risks because all of the problems will be covered by agents or REITs managers. There are advantages when investing in REITs because of the liquidity and diversity. It is unlike actual real estate, where REITs can be easily and quickly sold. People will face less financial risk because of investing in a portfolio rather than single building because of the problems such as irresponsible tenants, economy impact to the property rental market and market value, and so on. REITs has a board of directors that elected by the shareholders. The shareholders have a power to eliminate any board of directors that does not fulfil their requirement. The board of directors usually came from a people with an investment background especially in REITs field. They will assist a REITs managers; person who will manages the operation of the property. The power to choose what types of real estate to invest in is on board of directors. REITs investment for investors starts when they invest certain amount of money in a REITs fund. The amount of money depends on the REITs managers who will arrange the investment on the properties that have been agreed by board of director. The investors can have an eyes and ideas on what types of the properties and the location. They have a choice whether want to agree or not with the properties. If they agree with the properties, they can sign a document to clarify the investment. Then the properties will be rent out or mortgage in order to earn money. REITs has a several method to measuring the profit but the suitable one called Funds From Operation (FFO). The National Association of Real Estate Investment Trusts (NAREIT) defines FFO as: Net income (computed in accordance with generally accepted accounting principles), excluding gains (or losses) from sales of property, plus depreciation and amortization, and after adjustments for unconsolidated partnerships and joint ventures. Adjustments for unconsolidated partnerships and joint ventures will be calculated to reflect funds from operations on the same basis. Source: http://home.howstuffworks.com/real-estate/reit2.htm. The REITs industry use FFO to measure performance and to establish dividend payouts. Kallberg et al (2003) reported that REITs consistently pay out about 85% of FFO as dividends. The payouts from REITs are consistently higher than other types of equities. In other words, FFO is defined as the net income, excluding gains and losses from debt restructuring and property sales, adding back property depreciation and amortisation, and after adjustments for unconsolidated partnership and joint ventures. The net income is referring to rent and sales computed according to Generally Accepted Accounting Principles (GAAP). However FFO is not a necessary way to determine performance and dividend payouts. Not all REITs calculate FFO according to the NAREIT definition because some of the important items are missing from the formula such as maintenance, repairs and also expenses. Thus, investors must always read a companys report and any others supplemental information in order to get an exact FFO. REITs Companies: In Malaysia, there are several amount of business runs base on REITs. These companies have been success to put property market in this country in a good condition. These companies also expend the real estate industry with so much new types of building. Below is briefly an explanation about ten (10) well known REITs companies. Al-Aqar KPJ: Al-Aqar KPJ REITs established on 28 June 2006 is a Malaysian-based unit trust. The objective of this investment is to own and invest in Syariah-compliant real estate and it has been acceptable to invest in properties which compromise Ampang Puteri Specialist Hospital Building, Damansara Specialist Hospital Building, Johor Specialist Hospital Building, Ipoh Specialist Hospital Building, Puteri Specialist Hospital Building and Selangor Medical Centre Building. There are nine (9) others hospital under KPJ that potential to be injected under Al-Aqar KPJ such as Tawakal Hospital, Seremban Specialist Hospital and also Penawar Hospital. Amanah Raya: Amanah Raya REITs is subsidiary of Amanah Raya Berhad and wholly-owned by Minester of Fianace Incorporated. Amanah Raya REITs listed on Bursa Securities Malaysia Berhad on 26 February 2007 with a total asset siza of RM337 million. Today, Amanah Raya REITs has a diversification portfolio comprising hospitality, education and also commercial properties such as SEGI College, Holiday Villa Langkawi, Holiday Villa Alor Star, Wisma Amanah Raya Berhad, Wisma UEP, Permanis Factory and also Blocks AB South City Plaza. AmFirst: Established on 28 September 2006 under the Trust Deed, AmFIRST then entered into between Am ARA REIT Managers and Mayban Trustee Berhad. AmFIRST managed by Am ARA REIT Managers Sdn Bhd. Three months then, Am FIRST was listing on the Main Board of the Bursa Saham Malaysia Berhad on 21 December 2006. It shows an innovative makeover of AmFIRST, the first listed property trust fund in Malaysia. This REITS company is the largest Malaysia-based commercial REITs with exposure to the office, retail and hotel sector in Klang Valley area. Currently manages six office building, where three are located within the Kuala Lumpur Golden Triangle; AmBank Group Leadership Centre, AmBank Group Building, and also AmBank Tower, and one each in Petaling Jaya, Kelana Jaya, and Subang Jaya. AmFIRST also manages four-star hotel and a retail mall located in Subang Jaya, The Summit Subang, USJ. Atrium: Atrium REITs is a first logistic property approved in Malaysia. The objective of Atrium REITs is to invest in portfolio in order to reward investors or unit holders a maximise income and to acquire a high quality assets to achieve a long-term growth in a net income for distribution of dividend. This REITs then was first approved by the Securities Commission in October 2006 and then listed on Main Board of Bursa Saham Malaysia Berhad in April 2007. Atrium REITs has an 809, 668 sq ft (75, 220 sq mt) approved portfolio of investment properties which comprises of four freehold industrial properties currently leased to reputable and strong financially tenants. All of their properties located in Kuala Lumpur and Selangor, the fastest growing area in this country. Axis: Axis REITs is the first REITs list on Bursa Malaysia Securities Berhad on 3 August 2005. On 11 December 2008, Axis launched Islamic REITs which is the first in Malaysia. Axis own diversified portfolio of properties especially in Klang Valley, Kedah and Johor comprising of commercial offices, light industial building and also warehouse. Buildings that portray an image of Axis are Axis Tower and also Crystal Plaza. Both if this building are next door to each other and located along the busiest road, Federal Highway. These buildings are well maintain and easier accessibility. Other Axis properties are Delfi Cocoa in and BMW Asia Technology Centre PTP in Johor and also Giant Hypermarket in Sungai Petani, Kedah. Hektar: Hektar REITs is a Malaysias first retail-focused REITs. Listed on the Main Board of Bursa Saham Malaysia Securities on 4 December 2006, Hektar portfolio currently consists of shopping centres in Subang Jaya, Melaka and Muar. As of 31 December 2009, all of these properties was value of RM720 million. Hektar REITs is managed by Hektar Asset Management Sdn Bhd which a part of Hektar Group. QCT: QCT (Quill Capita Trust) REITs was listed in Main Board of Bursa Malaysia Securities Berhad on 8 January 2007. QCT is managed by Quill Capita Management Sdn Bhd. QCT main investment in REITs is a commercial properties. Until 31 December 2009, QCT has ten (10) properties with 1,288,149 sq ft net lettable area valued RM 788.4 million. The properties including part of Plaza Mont Kiara, Quill buildings, Wisma Technip and also tesco building in Jelutong, Penang. Starhill: This REITs was established on 18 November 2005 by a trust deed entered between Pintar Projek Sdn Bhd and Mayban Trustee and listed on Main Market of Bursa Malaysia Securities Berhad on 16 December 2005. Starhill REITs is focusing on retail and hotel properties investment. As for February 2010, Starhill REITs is the largest Malaysias real estate investment. This REITs has four (4) portfolio located in the heart of Kualu Lumpur; Starhill Gallery, JW Marriot Hotel, Lot 10 Shopping Centre and also The Residence at The Ritz-Carlton. Tower: Tower REITs is established on 21 February 2006. The objective of this company is to invest primarily in a portfolio of quality office building and commercial properties to provide regular and stable distributions of dividend to unit holders or investors and also to achieve a medium-term growth in the net income. In order to achieve their objective, Tower REITs implement several key strategies such as optimisation of capital structure, active asset management and also acquisition growth. The portfolio of this REITs company consists of three buildings located in Kuala Lumpur. First is Menara HLA, the 32-storeys office tower located in the heart of Kuala Lumpur Golden Triangle. With a net lettable area of 396, 820 sq ft, it has a blue chip tennats such as Hong Leong Assurance Berhad. Next, HP Towers comprises of two blocks of 9-storeys and 21-storeys and 3 levels of connecting podium. Situated in Bukit Damansara, this towers has a net lettable area of 350, 056 sq ft with a Hewlett-Packard (M) Sdn Bhd as a tenants. Lastly, Menara ING situated in Jalan Raja Chulan, the main central business district of Kuala Lumpur. Tower REITs only own 78.3% of the total share unit of the building and 100% leased out to ING Insurance Bhd. UOA: nbsp  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  UOA REITs was established on 28 November 2005 and listed on the Main Board of Bursa Saham Malaysia Securities Berhad two days later. UOA REITs is focusing on commercial properties. With a diversification portfolio of properties, UOA manages to maintain four building in Kuala Lumpur area. First is UOA Centre, a stylish 33-storeys office building situated between Jalan Pinang and Jalan Perak. Tenants of the building include financial services companies and also trading companies. Next is UOA II which located near to UOA Centre. With a contemporary designed, this 39-storeys building has a mixture of tenants from government agencies, multinationals insurance companies and law firms. Other than that, a 13-storeys office building located in Jalan Dungun, Damansara Heights name UOA Damansara is one of the UOA properties. Law firms, international associations and trading companies are a part of tenants for this building. Last is UOA Pantai located strategically in front of Menara TM. This 7-storeys of building consists of tenants include multinational corporations and so on. Regulation of REITs: In Malaysia, REITs govern by a statutory body name Security Commission Malaysia (SC). SC was established on 1 March 1993 under the Securities Commission Act 1993 and it is a financial regulatory agency. It is the central authority to regulate and develop the capital market. SC has big responsibilities in order to ensure the safety of the investors under the Act includes: Registering authority for prospectuses of corporations other than unlisted recreational clubs. Approving authority for corporate bond issues. Regulating all matters relating to securities and future contracts. Regulating the take-over and mergers of companies. Regulating all matters relating to unit trust schemes. Licensing and supervising all licensed persons. Supervising exchanges, clearing houses and central depositories. Encouraging self-regulation. Ensuring proper conduct of market institutions and licensed persons. Source:http://www.sc.com.my/main.asp?pageid=350menuid=376newsid=linkid=type= New Islamic REITs: The introduction of Islamic REITs is viewed as one of the most significant initiatives to broaden and deepen the product base of Islamic capital market in Malaysia. It can also help to enhance competitiveness of Malaysian Islamic capital market by attracting global Islamic investors who wish to diversify their investment portfolio which are Shariah compliant. Islamic REITs regulation was outlined in the Guidelines for Islamic REITs issued on 21st November 2005 by Securities Commission. (Securities Commission,2005). The Guidelines were introduced to facilitate the development of new Islamic capital market products, making Malaysia the first jurisdiction in the global Islamic financial sector to issue such guidelines and setting a global benchmark for the development of Islamic REITs. The Guidelines essentially stipulate Shariah compliance criteria to guide management companies in their activities relating to an Islamic REITs, including the types of Shariah permissible and non-permissible rental and investment activities for such fund. Islam prohibited Muslim from investing in properties whose tenants sell alcohol, pork or allo Analysis of Awareness of Real Estate Investment Trusts Analysis of Awareness of Real Estate Investment Trusts Investment in general, and property investment in particular, have been traditionally regarded more as an art than a science, where investors, decision-makers and analyst rely more on their experience, subjective judgement and quantified evidence. Real Estate Investment Trust or REITs is a new medium of investment specifically in property investment in Malaysia. Malaysia is the first country in Asia to introduce property trust and only in 1989 was listed in Kuala Lumpur Stock Exchange. The property trust was then facing some issues such as potential conflict of interest, a lack of focus on asset management and thin trading volume and then led the Real Property Investment Trust to be announced. REITs in Malaysia growth perfectly with stimulate the growth of property sector in this country. Malaysia then introduces the first of its new REITs, with the Axis REIT. YTL Corporation, Malaysias biggest builder, established the second REITs later, with properties in the REIT including the JW Marriott Hotel and Starhill Shopping Center in Kuala Lumpur. Besides that, other REITs that now established in Malaysia are Hektar REITs, Tower REITs, and also UOA REITs. Other companies in Malaysia that are expecting to join for REITs include Sunway City and the Landmarks Group. Most of the REITs companies in Malaysia own the real property asset such as shopping malls, hotels and also apartment buildings and they generate income from owning the building and also rental income from the buildings. The investors physically own a part of the building depending on the size of the share that they invest. Through REITs, investors can invest any amount that they want to own REITs. They can sell it anytime with the easiest way through stocks market. Compared to normal properties, the transaction cost of buy and sell REITs are much lower. But REITs does not like other unit trust, which is sold through agents or other peoples, but it is traded in stock exchange. So it gives return to investors in form of dividend and also capital appreciation from price change. This way, shows that REITs is a secured investment that protect investors interest and it works under the guidelines or frameworks that have been set up by government. Background: The investment characteristics of property are significantly different from the characteristics of assets in other investments. REITs in Malaysia is so attractive as Malaysia now is developing country. There is still a gap between Malaysia and others develop country in Asia. In order to put Malaysia in same level with Asia develop country, most of REITs managers are with option and plan to growth their property portfolio to trade or manage rental in order to achieve it. It also will give a better yield for investor if our country is same level with others. In order to improve market performance of REITs, the REITs Company should consider developing new opportunities, acquiring more properties into their portfolio and also to some countries, or joint developing property project. The relation of both legal frameworks and the market performance will give a picture to investor and other people who interested in this investment. The REITs sector need to provide more chance to other people to invest and it will help Malaysian generate more income others than monthly salary and to boost up economy in this country. Research Question: Finance in real estate is just a popular way of investment nowadays. The market performance of REITs shows the good results this few years. With the regulation that set up by government, surely REITs is the secured investment. But is there many people in Klang Valley that come from middle-income group realise about this investment in this develop country? Objectives: The main objective of this study is to determine the level of awareness towards REITs among middle-income group in Klang Valley. In line with above, this study also seeks to study types of REITs available in Malaysia Besides, these study also to discuss about the way to introduce REITs in Malaysia in order to make REITs the favourable investment medium. Scope of Study: In overall, this research is confined to REITs in Malaysia which in an attractive investment nowadays. This study covers the types of REITs available in Malaysia and also people awareness about it. Other than that, this study is carried out to know what is the way of promoting REITs that people prefer. Methodology: This research would be done in an analytic study manner. The information that is needed to examine the issue will be obtained from primary and secondary data. The primary data refers to the first-hand data, which required data collection that is the distribution of questionnaire. The questionnaire will be distributed to certain amount of Malaysian with a different background. Secondary data or desk research refers to the data that already exist, mostly in quantitative form. In this study, most of the secondary data were obtained from; Academic research on REITs and journals. Website of REITs Company. Other dissertations. Data analysis will be done through frequency analysis. Frequency analysis is used to determine the frequency of certain choice for the questions. Most frequent answer will be given the priority. The results will be shows in diagram or graph to show the popularity answers. Significance: It is hoped that the anticipated outcome of this study can benefit the: The REITs Company where they will more alert toward the middle-income people awareness of REITs and the way people wanted REITs to be promoted. The interested investor and also the student, as a reference on the information that relates to REITs. Organisation of Research: This study consists of five chapters where the first chapter provides a brief concept and view on the topic that will be studied in this research. It consists of introduction, objective of study, scope of study, significance on research and also organisation of research. Chapter two discuss on literature review about REITs in Malaysia. The discussion will be on definition of REITs, the types of REITs in Malaysia and also the list of REITs companies. Other than that, the discussion also will describe on how REITs work and also the benefit of REITs. The definition on middle-income people and background of Klang Valley also will briefly explain. The next chapter, chapter three is on methodology. In this chapter, methods used to construct the questionnaires will be outlined. This chapter will highlight how the administration of the questionnaire which will conduct to respondents. Chapter four is the finding and analysis of data obtained through questionnaires survey. The analysis of data obtained will determine the level of awareness towards REITs among middle-income people in Klang Valley. Through the survey, the preference way of promoting REITs also can be discover. The last chapter, which is chapter five, is the conclusion and limitation of this study. The best suggestion of promoting REITs also will be stated in this chapter. The weaknesses and strengths of the study may be included. Some suggestions for further study will also be included in this study. In the next chapter, a review of related information about REITs will be explained. The explanation will cover definition, types, how REITs work, REITs companies in Malaysia, the legislation of REITs Islamic REITs and also the future prospect of REITs. Chapter 2: Literature Review: LITERATURE REVIEW: REITs which stand for Real Estate Investment Trust is an investment that relates to properties. Trust fund has been introducing in this country since 1986, but REITS; a part of trust fund is a new medium investment only famous around few years back. REITs is an investment vehicle for investors to invest in large-scale income producing real estate. With the concept like unit trust, this investment gathers pool of money from all sizes of investors. REIT based companies will invest, manage and distribute rental as dividend back to the investors by yearly basis or depends on the agreement that have been signed before.REITs is a liquidity investment which It is being trade in Bursa Kuala Lumpur with ease of buy and sells back like a normal equity. As the years flow, REITs is not new to the world especially in many other developed countries. REITs usually targets for a long term investor with moderate risk such as insurance companies, unit trust funds and even individual investors. REITs invest in a variety of real estate properties such as office buildings, shopping malls, warehouses, apartments and hotels. The investor also has the added advantages of holding a liquid asset in the form of shares that can be sold on the market unlike the real estate itself which is illiquid. Investing in REITs provides the investor with dividend income and also allows them to own a real estate portfolio rather than just a single building. This chapter then will briefly explain about Klang Valley, middle-income group, history of REITs in Malaysia, types of REITs, how REITs work, and REITs companies and also about the legislation of REITs. Klang Valley: My research focus on awareness towards REITs among middle-income people in Klang Valley, Malaysia. Malaysia is located in Southeastern Asia, peninsula bordering Thailand and northern one-third of the island of Borneo, bordering Indonesia, Brunei, and South China Sea, south of Vietnam. It is comprised of two separate geographical regions which are Malay Peninsular and the states of Sabah and Sarawak. Klang valley is an area in Malaysia comprising Kulala Lumpur and its suburbs, and adjoining cities and towns in the state of Selangor. Tis valley is named after Klang River, the principal river that flows through it which is closely linked to the early development of the area as a cluster of tin mining towns in the late 19th century. Development of Klang Valley took place largely in the area between Gombak and Port Klang but the urban areas surrounding Kuala Lumpur have since growth towards the border of Negeri Sembilan and the north towards Rawang. Klang Valley has a total population around 7.6 million people in 2009 and estimated to growth due to the people migrate from other states towards Klang Valley and also a population growth. Klang Valley is the heartland of Malaysias industry and commerce. Regions of Klang Valley and their corresponding local authority: Federal Territory of Kuala Lumpur. Kuala Lumpur City Hall. Federal Territory of Putrajaya. Putrajaya Corporation. Selangor district of Petaling. Shah Alam City Council. Petaling Jaya City Council. Subang Jaya Municipal Council. Selangor District of Klang. Klang Municipal Council. Selangor district of Gombak. Selayang Municipal Council. Selangor district of Hulu Langat. Ampang Jaya Municipal Council. Kajang Municipal Council. Selangor district of Sepang. Sepang Municipal Council. For further information about the location of Klang Valley. Middle-Income Group: There are three classes of income in Malaysia. These classes indicate Malaysian monthly income and also their household. The three (3) classes including low-income people, middle-income people, and high-income people. Below is the income groups in Malaysia. Middle-class income is define as the socioeconomic class between the working class and the upper class, usually including professionals, highly skilled labourers, and lower and middle management.( Source: http://www.answers.com/topic/middle-class). Background of REITs in Malaysia: Malaysia is the first country in Asia to introduce property trusts. In 1989, the first trust was listed in Kuala Lumpur Stock Exchange. The regulatory framework of property trust, approved by the Bank Negara in 1986, was restrictive and provided no tax transparency. But there still an issues that arise such as lack of focus on property management and also conflict of interest which led the property trust to be private. In 1995, a revision of the property trust guidelines were done but it fail to give a good impact to investors and also to market. Then, in February 2005, there is another revision with led the property trust be renamed as Real Property Investment Trust (REITs). The major income of REITs is from rental and the profit is required to distribute to holders or investors in dividend. The guidelines also been revised to provide a good regulation for a REITs in this country. Malaysia was the first Islamic country to certify REITs and also the first country in Asia where REITs conquer agriculture land. A plantation REITs also much like conventional REITs. It will be the crops planted on the land and the success will depend on the sizes of assets injected to the trust. The potential plantation to be expected is oil palm because of the high demand on the production. Other than that, palm oil also undergoing the research to become a biodiesel product and in become more attractive after the increasing in oil prices. The plantation land or agriculture land also can be developed to residential area or commercial area due to the development of town. Types of REITs: REITs has several types with drives to a different prospect of REITs but it still relates to property as a main core to invest on. In others country they apply a lot of types of REITs. But in Malaysia we only apply three types of REITs. There are Equity REITs, Mortgage REITs and also Hybrid REITs. Equity REITs: Equity REITs is a publicly traded company that, as its principal business, buys, manages, renovates, maintains and occasionally sells real properties. (block,2006).Properties are usually purchased to invest is an income-producing real estate such as hotels, shopping malls and also apartment buildings. This type of REITs is different from others because REITs usually companies will purchase or develop the property and operate it as a part of their portfolio rather than sell it. Besides, Equity REITs is a long term investment because they earn dividend from rental. In additional, this type will let investors not only just to choose the type of property they want to invest in, but also the location of the properties. (Block, 2006). It means that the investors can make a choice on their own with the advice of the agent or REITs managers in order to make a good investment and to gain a good dividend. Mortgage REITs: A mortgage REITs is a REITs that focus on makes on holds loans to the property developers. (All about Investing: The Easy Way to Get Started by Esme Faerber: page 89). Rather than investing in properties,this type of REITs sometime loans money for purchase existing mortgages. The revenue earns is from the interest charge on the mortgage loans and pass on shareholders. Mortgage REITs is more sensitive compare than other REITs because of the prices of mortgage REITs react opposite from interest rates. It is good REITs to invest if there is a rumour of dropping in interest rates. Hybrid REITs: Hybrids combine the investing principles of mortgage and equity REITs, diversifying between making mortgage loans and direct property ownership. They earn both rental and interest income. (http://www.allaboutskyscrapers.com/REIT_types.htm). They buy, develop, and manage the properties and provide financing through mortgage loans. Most hybrid REITs have a stronger position in their financing account. The most famous industry that using hybrid REITs is private healthcare industries, where the financial company will provide mortgage to healthcare company, hospital management and also to buy properties such as land and building and also medical appliances. Equity REITs seem to be the most popular REITs recently. Between three types of REITs, mortgage REITs is the most risky which in involve in lend money to developers. Every type of REITs has different level of risk so investors should study and evaluate which REITs they want to invest in. The wise result will make the investors smile widely because of the big fish. Chan, Erickson and Wang (2003) find that equity REITs pay out more dividends than mortgage REITs. The reason is that equity REITs offer the potential for capital gains in addition to current income. Structure of REITs: Source: Practice and Prospect of Islamic Real Estate Investment (I-REITs)in Malaysian Islamic Capital Market by Dr. Asyraf Wajdi Dusuki. Manager: A man or woman who controls an organization or a part of organization. Property manager: A man or woman who controls the management and maintenance of the building. He or she will ensure the building in the good condition which safe to fit tenants in. Tenant: A person who pays money (rent) to the owner of a room, flat, building or piece of land so that he or she can live in it or use it. Trustee: A person who looks after money or property for somebody else. Unit holder: An owner of one or more units in a mutual fund. How REITs Works: Its true that investment most favourable today will be the one most prized tomorrow, and then real estate is definitely due for love-in. Investing in income-generating real estate can be a great way to increase your net worth. But for many people, investing in real estate, particularly commercial real estate is simply out of their budgets. REITs is a saviour to people when with REITs people can invest in small amount but with a large-scale of real estate group. REITs which means real estate investment trust essentially the organization that own and manage a portfolio of real estate and mortgages such as shopping malls, hotels, apartment buildings and also agriculture lands. REITs does not mean for a restrict group, but this share can be own buy anyone. REITs offer people the ownership of the property without any risks because all of the problems will be covered by agents or REITs managers. There are advantages when investing in REITs because of the liquidity and diversity. It is unlike actual real estate, where REITs can be easily and quickly sold. People will face less financial risk because of investing in a portfolio rather than single building because of the problems such as irresponsible tenants, economy impact to the property rental market and market value, and so on. REITs has a board of directors that elected by the shareholders. The shareholders have a power to eliminate any board of directors that does not fulfil their requirement. The board of directors usually came from a people with an investment background especially in REITs field. They will assist a REITs managers; person who will manages the operation of the property. The power to choose what types of real estate to invest in is on board of directors. REITs investment for investors starts when they invest certain amount of money in a REITs fund. The amount of money depends on the REITs managers who will arrange the investment on the properties that have been agreed by board of director. The investors can have an eyes and ideas on what types of the properties and the location. They have a choice whether want to agree or not with the properties. If they agree with the properties, they can sign a document to clarify the investment. Then the properties will be rent out or mortgage in order to earn money. REITs has a several method to measuring the profit but the suitable one called Funds From Operation (FFO). The National Association of Real Estate Investment Trusts (NAREIT) defines FFO as: Net income (computed in accordance with generally accepted accounting principles), excluding gains (or losses) from sales of property, plus depreciation and amortization, and after adjustments for unconsolidated partnerships and joint ventures. Adjustments for unconsolidated partnerships and joint ventures will be calculated to reflect funds from operations on the same basis. Source: http://home.howstuffworks.com/real-estate/reit2.htm. The REITs industry use FFO to measure performance and to establish dividend payouts. Kallberg et al (2003) reported that REITs consistently pay out about 85% of FFO as dividends. The payouts from REITs are consistently higher than other types of equities. In other words, FFO is defined as the net income, excluding gains and losses from debt restructuring and property sales, adding back property depreciation and amortisation, and after adjustments for unconsolidated partnership and joint ventures. The net income is referring to rent and sales computed according to Generally Accepted Accounting Principles (GAAP). However FFO is not a necessary way to determine performance and dividend payouts. Not all REITs calculate FFO according to the NAREIT definition because some of the important items are missing from the formula such as maintenance, repairs and also expenses. Thus, investors must always read a companys report and any others supplemental information in order to get an exact FFO. REITs Companies: In Malaysia, there are several amount of business runs base on REITs. These companies have been success to put property market in this country in a good condition. These companies also expend the real estate industry with so much new types of building. Below is briefly an explanation about ten (10) well known REITs companies. Al-Aqar KPJ: Al-Aqar KPJ REITs established on 28 June 2006 is a Malaysian-based unit trust. The objective of this investment is to own and invest in Syariah-compliant real estate and it has been acceptable to invest in properties which compromise Ampang Puteri Specialist Hospital Building, Damansara Specialist Hospital Building, Johor Specialist Hospital Building, Ipoh Specialist Hospital Building, Puteri Specialist Hospital Building and Selangor Medical Centre Building. There are nine (9) others hospital under KPJ that potential to be injected under Al-Aqar KPJ such as Tawakal Hospital, Seremban Specialist Hospital and also Penawar Hospital. Amanah Raya: Amanah Raya REITs is subsidiary of Amanah Raya Berhad and wholly-owned by Minester of Fianace Incorporated. Amanah Raya REITs listed on Bursa Securities Malaysia Berhad on 26 February 2007 with a total asset siza of RM337 million. Today, Amanah Raya REITs has a diversification portfolio comprising hospitality, education and also commercial properties such as SEGI College, Holiday Villa Langkawi, Holiday Villa Alor Star, Wisma Amanah Raya Berhad, Wisma UEP, Permanis Factory and also Blocks AB South City Plaza. AmFirst: Established on 28 September 2006 under the Trust Deed, AmFIRST then entered into between Am ARA REIT Managers and Mayban Trustee Berhad. AmFIRST managed by Am ARA REIT Managers Sdn Bhd. Three months then, Am FIRST was listing on the Main Board of the Bursa Saham Malaysia Berhad on 21 December 2006. It shows an innovative makeover of AmFIRST, the first listed property trust fund in Malaysia. This REITS company is the largest Malaysia-based commercial REITs with exposure to the office, retail and hotel sector in Klang Valley area. Currently manages six office building, where three are located within the Kuala Lumpur Golden Triangle; AmBank Group Leadership Centre, AmBank Group Building, and also AmBank Tower, and one each in Petaling Jaya, Kelana Jaya, and Subang Jaya. AmFIRST also manages four-star hotel and a retail mall located in Subang Jaya, The Summit Subang, USJ. Atrium: Atrium REITs is a first logistic property approved in Malaysia. The objective of Atrium REITs is to invest in portfolio in order to reward investors or unit holders a maximise income and to acquire a high quality assets to achieve a long-term growth in a net income for distribution of dividend. This REITs then was first approved by the Securities Commission in October 2006 and then listed on Main Board of Bursa Saham Malaysia Berhad in April 2007. Atrium REITs has an 809, 668 sq ft (75, 220 sq mt) approved portfolio of investment properties which comprises of four freehold industrial properties currently leased to reputable and strong financially tenants. All of their properties located in Kuala Lumpur and Selangor, the fastest growing area in this country. Axis: Axis REITs is the first REITs list on Bursa Malaysia Securities Berhad on 3 August 2005. On 11 December 2008, Axis launched Islamic REITs which is the first in Malaysia. Axis own diversified portfolio of properties especially in Klang Valley, Kedah and Johor comprising of commercial offices, light industial building and also warehouse. Buildings that portray an image of Axis are Axis Tower and also Crystal Plaza. Both if this building are next door to each other and located along the busiest road, Federal Highway. These buildings are well maintain and easier accessibility. Other Axis properties are Delfi Cocoa in and BMW Asia Technology Centre PTP in Johor and also Giant Hypermarket in Sungai Petani, Kedah. Hektar: Hektar REITs is a Malaysias first retail-focused REITs. Listed on the Main Board of Bursa Saham Malaysia Securities on 4 December 2006, Hektar portfolio currently consists of shopping centres in Subang Jaya, Melaka and Muar. As of 31 December 2009, all of these properties was value of RM720 million. Hektar REITs is managed by Hektar Asset Management Sdn Bhd which a part of Hektar Group. QCT: QCT (Quill Capita Trust) REITs was listed in Main Board of Bursa Malaysia Securities Berhad on 8 January 2007. QCT is managed by Quill Capita Management Sdn Bhd. QCT main investment in REITs is a commercial properties. Until 31 December 2009, QCT has ten (10) properties with 1,288,149 sq ft net lettable area valued RM 788.4 million. The properties including part of Plaza Mont Kiara, Quill buildings, Wisma Technip and also tesco building in Jelutong, Penang. Starhill: This REITs was established on 18 November 2005 by a trust deed entered between Pintar Projek Sdn Bhd and Mayban Trustee and listed on Main Market of Bursa Malaysia Securities Berhad on 16 December 2005. Starhill REITs is focusing on retail and hotel properties investment. As for February 2010, Starhill REITs is the largest Malaysias real estate investment. This REITs has four (4) portfolio located in the heart of Kualu Lumpur; Starhill Gallery, JW Marriot Hotel, Lot 10 Shopping Centre and also The Residence at The Ritz-Carlton. Tower: Tower REITs is established on 21 February 2006. The objective of this company is to invest primarily in a portfolio of quality office building and commercial properties to provide regular and stable distributions of dividend to unit holders or investors and also to achieve a medium-term growth in the net income. In order to achieve their objective, Tower REITs implement several key strategies such as optimisation of capital structure, active asset management and also acquisition growth. The portfolio of this REITs company consists of three buildings located in Kuala Lumpur. First is Menara HLA, the 32-storeys office tower located in the heart of Kuala Lumpur Golden Triangle. With a net lettable area of 396, 820 sq ft, it has a blue chip tennats such as Hong Leong Assurance Berhad. Next, HP Towers comprises of two blocks of 9-storeys and 21-storeys and 3 levels of connecting podium. Situated in Bukit Damansara, this towers has a net lettable area of 350, 056 sq ft with a Hewlett-Packard (M) Sdn Bhd as a tenants. Lastly, Menara ING situated in Jalan Raja Chulan, the main central business district of Kuala Lumpur. Tower REITs only own 78.3% of the total share unit of the building and 100% leased out to ING Insurance Bhd. UOA: nbsp  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  UOA REITs was established on 28 November 2005 and listed on the Main Board of Bursa Saham Malaysia Securities Berhad two days later. UOA REITs is focusing on commercial properties. With a diversification portfolio of properties, UOA manages to maintain four building in Kuala Lumpur area. First is UOA Centre, a stylish 33-storeys office building situated between Jalan Pinang and Jalan Perak. Tenants of the building include financial services companies and also trading companies. Next is UOA II which located near to UOA Centre. With a contemporary designed, this 39-storeys building has a mixture of tenants from government agencies, multinationals insurance companies and law firms. Other than that, a 13-storeys office building located in Jalan Dungun, Damansara Heights name UOA Damansara is one of the UOA properties. Law firms, international associations and trading companies are a part of tenants for this building. Last is UOA Pantai located strategically in front of Menara TM. This 7-storeys of building consists of tenants include multinational corporations and so on. Regulation of REITs: In Malaysia, REITs govern by a statutory body name Security Commission Malaysia (SC). SC was established on 1 March 1993 under the Securities Commission Act 1993 and it is a financial regulatory agency. It is the central authority to regulate and develop the capital market. SC has big responsibilities in order to ensure the safety of the investors under the Act includes: Registering authority for prospectuses of corporations other than unlisted recreational clubs. Approving authority for corporate bond issues. Regulating all matters relating to securities and future contracts. Regulating the take-over and mergers of companies. Regulating all matters relating to unit trust schemes. Licensing and supervising all licensed persons. Supervising exchanges, clearing houses and central depositories. Encouraging self-regulation. Ensuring proper conduct of market institutions and licensed persons. Source:http://www.sc.com.my/main.asp?pageid=350menuid=376newsid=linkid=type= New Islamic REITs: The introduction of Islamic REITs is viewed as one of the most significant initiatives to broaden and deepen the product base of Islamic capital market in Malaysia. It can also help to enhance competitiveness of Malaysian Islamic capital market by attracting global Islamic investors who wish to diversify their investment portfolio which are Shariah compliant. Islamic REITs regulation was outlined in the Guidelines for Islamic REITs issued on 21st November 2005 by Securities Commission. (Securities Commission,2005). The Guidelines were introduced to facilitate the development of new Islamic capital market products, making Malaysia the first jurisdiction in the global Islamic financial sector to issue such guidelines and setting a global benchmark for the development of Islamic REITs. The Guidelines essentially stipulate Shariah compliance criteria to guide management companies in their activities relating to an Islamic REITs, including the types of Shariah permissible and non-permissible rental and investment activities for such fund. Islam prohibited Muslim from investing in properties whose tenants sell alcohol, pork or allo