Relationship between directors’ bonus and shareholders’ value: a view of corporate governance / Akhma Adlin Khalid, Zubaidah Zainal Abidin and Norashikin Kamarudin.

Directors’ remuneration research has traditionally focused on total salary, cash compensation and long–term incentives plans. Consequently, a systematic study on short–term annual bonus is lacking. To address this omission, this study is conducted to investigate the trend of bonus received by the executive directors among Malaysian companies publicly listed on Bursa Malaysia in the current economic condition from 2008 to 2010. The study also examines the relationship between the executive directors’ bonus and shareholders’ value, specifically defined by firm performance, as measured using stock return (SR) and earning per share (EPS) and by firm size, as measured using the total number of employee, so as to test the practice of the principle corporate governance among the Malaysian listed companies from two different theories, i.e. agency theory and power theory. For firm performance, the findings support the agency theory since directors’ bonus is found to be positively associated with firm performance, as measured by EPS. However, the findings found no significant relationship between directors’ bonus and stock return. For firm size, the findings support both theories since directors’ bonus is found to be positively associated with firm performance as measured by total sales and negatively associated with firm size as measured by total number of employee. Consistent with the previous studies on executive bonuses, this association remains weak. However, power theory revealed that weak governance may foster the rise of powerful directors and thus, weaken the corporate governance value in a company. Therefore, it is suggested that close monitoring of directors’ remuneration should continue and shareholders should remain extra vigilant

Comparative Study on Nutritive Value of Different Legumes Species (Leucaena leucocephala, Calopogononium muconoides and Stylosanthes guianensis)

Legumes are the plant that contains high protein content that has been used as supplementary for animal feed and has a great potential to increase the productivity of livestock. However, no much study has been measured on the nutritive value of legume species. Thus, the aims of this study were to measure the nutritive content in the leaves of three different legume species (Leucaena leucocephala, Calopogonium mucunoides and Stylosanthes guianensis) and to compare the species that contain high of nutritive value. The samples were collected in Tembila area, Besut, Terengganu, then were brought to the Plant Physiology laboratory at UniSZA Kampus Besut for sample preparation. The samples were washed under tap water for 30 seconds to prevent nutrient leaching, then were dried and ground before analyzed by proximate analysis and mineral analysis using Induces Coupled Plasma Optical Emission Spectrometry (ICP-OES) machine. The parameters that were measured by using the proximate analysis consist of dry matter (DM), crude protein (CP), crude fibre (CF), ash, ether extract (EE) and Nitrogen Free Extract (NFE). For mineral analysis, the samples were analyzed for Calcium (Ca), Zinc (Zn), Iron (Fe), Copper (Cu) and Manganese (Mn). The results of this study showed that Leucaena leucocephala had significantly higher (p < 0.05) of CP and EE. While, Stylosanthes guianensis had significantly higher (p < 0.05) of the micro-elements which are Zn, Fe and Mn. Therefore, this study revealed that L. leucocephala contained the highest nutritive value of CP, EE and Calcium

Interstitial pulmonary fibrosis in a Malaysian captive Asian elephant (Elephas maximus)

A 14-year-old female captive Asian elephant in a Malaysian z oo with a history of positive sero-reactivity to Elephant TB STAT-PAK assay was humanely euthanized due to chronic weight loss and poor response to treatment. Postmortem revealed generalized congestion and emphysematous lungs. Microscopically, there were severe pulmonary emphysema, eosinophilic hyaline membrane and infiltration of mature fibrocytes in the alveolar walls. Based on the histopathological findings interstitial pulmonary fibrosis was diagnosed. The possible cause of which although not completely known, is most likely due to hypersensitivity. The allergic reaction could have been caused by exposure to antigens of avian origin or the Mycobacterium gilvum, an non-tuberculous mycobacterium (NTM), isolated from the lung. This is the second case reported in elephants globally, thought it has been well studied in humans and reported in horses. Providing good husbandry for elephants in captivity is important to reduce the occurrence of such condition

Observation on predatory behaviour of captive Malayan tigers over the effect of illumination

Tigers in a natural life are nocturnal and preys during the dark. This study was performed to observe the effect of illumination on predatory behaviour of captive tigers. Furthermore, it was also to compare the agility of different individual, gender and age in catching their prey. The subjects were four captive tigers (N=4) in National Wildlife Rescue Centre (NWRC), Sungkai, Perak comprising of two males and two females Malayan tiger (Panthera tigris jacksoni and Panthera tigris ssp.) of different ages. This study was conducted at night for a dark setting while spotlights were used to provide illumination in each animal enclosure. Average time to reach for prey was faster without spotlight compared to with spotlight at 21.44 ± 4.70 minutes and 41.75 ± 5.23 minutes respectively (P<0.05). Individual variability in time response was obviously faster in dark setting, however it was only statistically significant in one wild-caught adult female tiger compared to all the other three tigers. Time response among gender and genetic trait (purebred or hybrid) of Malayan tigers were not significant, while age factor showed old-aged tiger has a significantly slower response in dark settings as compared to an average adult aged tiger at 41.75 ± 13.98 minutes and 14.67 ± 2.39 minutes respectively. In conclusion, research in captive settings showed the agility of the tiger approaching the preys were more rapid in dark settings, simulating a better night vision. Individual variability in the time response needs further investigation and these findings should be considered in designing feeding management in a captive setting to enrich and stimulate normal predatory behaviour

First Captive Born Sunda Pangolin (Manis javanica Demarest, 1822) in Malaysia

Sunda pangolin (Manis javanica Desmarest, 1822), also known as Malayan or Javan pangolin, is one of four species of pangolin available in Asia that includes Indian pangolin (Manis crassicaudata E. Geoffroy, 1803), Chinese pangolin (Manis pentadactyla Linnaeus, 1758), and Philippine pangolin (Manis culionensis de Elera, 1915). The remaining four species are from the African lineage, which are the white-bellied pangolin (Phataginus tricuspis Rafinesque, 1821), African black-bellied pangolin (Phataginus tetradactyla Linnaeus, 1766), Giant pangolin (Smutsia gigantean Illiger, 1815), and Temminck's pangolin (Smutsia temminckii Smuts, 1832). Figure 1 shows the species ranges of the pangolin species on the African and Asian continents

Phytoplankton composition and its related environmental conditions in Santubong and Samariang Estuaries, Kuching, Sarawak

ýA study was carried out to investigate phytoplankton composition in two estuaries of Kuching, Sarawak. Two hundred and two samples of phytoplankton were collected from the estuaries of Samariang and Santubong fortnightly from 2008 to 2011 by using a Van Dorn water sampler and plankton net. Water parameters such as pH, salinity, and temperature were determined in-situ. Selected macronutrients concentration (phosphate, nitrate-nitrogen and silicate) of water samples were analyzed in the laboratory. Phytoplankton enumeration and identification were undertaken by using light and electron microscopy. Ninety five taxa, composed of seventy eight species of diatoms and seventeen species of dinoflagellates were identified from the study area Phytoplankton composition was dominated most by diatom group in both sampling sites but dominated six times in Samariang. The species frequently found predominantly in the water samples of the both sampling sites were Nitzcshia spp., Coscinodiscus spp., Thalassionema spp. and Pleurosigma spp.. The predomination of single genus of phytoplankton at single time resulted in higher cell density and shift in species composition was observed throughout the sampling period. Seasonal occurrence of diatom cell density was recorded from April to August in Santubong and from July to September and April to May and Samariang. Compared to Santubong, dinoflagellates cell density found higher in Samariang. No bloom event of diatom or dinoflagellates was recorded during the sampling period but low Diatom to Dinoflagellates (DD) ratios in some occasion could serve as the window of opportunity for dinoflagellate to bloom. However at this juncture no bloom was observed which could be limit by the change in environmental conditions (pH, salinity, temperature and macronutrients. Statistical analysis with One Way ANOVA showed that higher cell density of diatom and dinoflagellates in both sampling site have significant difference with environmental conditions. However, analysis with Principle Components Analysis (PCA) showed that only pH, phosphate and temperature have positively correlated with cell abundance of diatom and dinoflagellates. In this study, potentially harmful algae such as Pseudo-nitzschia species were frequently detected in the plankton samples. Thus a laboratory experiment to determine the salinity tolerance of Pseudo-nitzschia species was undertaken. In culture experiment, a total of nine strains of four species of Pseudonitzschia showed different, salinity tolerance, in decreasing order of P. pungens > P. brasiliana >P. cuspidata > P. circumpora. Maximal growth rate was greatest in P. pungens (2.21), followed by P. cuspidata (1.57), P. brasiliana (1.52) and P. circumpra (1.01). Morphological abnormality of Pseudo-nitzschia was documented at different salinities and shown to be varied among the species. Irregularity in cell shape was documented in all species while appearance of bulges was observed only in P. pungens and P. cuspidata. Cell abnormality was highest in P. circumpora and lowest in P. cuspidata. In addition, reduction in cell length was observed at all strains but not significant since short duration of experiment applied in this study. Further study using microscosm experiment is important to evaluate the influence of environmental conditions to the changes of phytoplankton compositions especially the abundance and growth of potential harmful species

Diatom (Bacillariophyceae) to Dinoflagellate (Dinophyceae) Ratio as an Early Bioindicator of Eutrophication

A study was carried out to examine the ratio of diatom to dinoflagellate in two estuaries as sampling areas and its potential application as an early indicator for eutrophication. Water samples were collected from the estuaries of Samariang Batu and Santubong fortnightly for 10 samplings using Van dorn sampler. Cell enumeration and identification was carried out by using sedqwick rafter counting chamber under light microscope based on the relevant reference material. Our result clearly showed that the diatom to dinoflagellates ratio increased with the increasing of macronutrient in the water and affected by the environmental factors. High Si: P ratio resulting in high cell density of diatom. Diatom Nitzschia spp, and Pleurosigma spp are proposed as the potential bioindicator species for eutrophication in Santubong and Samariang Batu since they were commonly found in estuaries water. Further study on Diatom and dinoflagellates ratio of other estuaries water is important reaffirm the finding on the stud

Botgo (FAS Sdn. Bhd) / Muhammad Aiman Kamarudin ... [et al.]

This business is based on partnership where it consists of five members which hold important positions in the company such as General Manager, Administration Manager, Marketing Manager, Operational Manager and Fiancial Manager. The business capital is amounted to RM250,000 where the total contribution of each member is RM 50,000 and the rest RM 50,000 is from Bank Islam's loan. BOTGO is one of the most popular bahulu at our company. FAS Sdn Bhd is located near Seri lskandar with address; Lot 3152, Jalan Teknologi 2, Seri lskandar, Bota, Perak. FAS Sdn Bhd is a company which focuses on food production in Malaysia. Bahulu is one of malay traditional cake that has differences in size and shape that makes this cake looks interesting and suitable to serve for any occasion. The light and dry texture gives an opportunity to this cake to be one of marketable product as people love simple things especially food. Moreover, the simple steps and ingredients give a lot of benefit to our company and we are highly confident that our market can be easily developed and spread in Malaysia. To make it more attractive and interesting, we decided to make some innovation by implying our creativity and modern element in this bahulu making. Nowadays, people love to experiment with their food. Therefore, we choose to create this product which people can bake their own bahulu with instant bater which will help them bake faster. So, with our product, it will bring advantages to people who wants to start baking, career women who do not have a lot of time to prepare food and other people too. We will expect that our business will become more developed in the near future because with the new innovation in our bahulu, the demand will increase not only during any occasion but it might be a new daily snack. Bahulu production has the potential of being a profitable business if it is done in modern way with large scale and systematically managed. This will give more advantages for us to make our product more profitable and stable in the long run

Mycological isolation from animal enclosures and environments in National Wildlife Rescue Centre and National Zoo, Malaysia

It is important to provide a baseline of fungal composition in the captive wildlife environment to better understand their role in overall wildlife health. The objectives were to identify species of fungi existing within wildlife animal enclosures and their environment at the National Wildlife Rescue Centre (NWRC) and the National Zoo, Malaysia and to describe their medical and veterinary importance. Samples of air, wall or floor swab, enrichment swab and soil were taken from the animal enclosures, exercise yard and enrichments at NWRC and National Zoo respectively. All samples including those pre-treated samples were plated onto Sabouraud's Dextrose Agar (SDA). Numerous fungi were grown on all sampling SDA plates regardless by either single or multiple growth. Samples of air in both NWRC and National Zoo had the highest growth of Penicillium spp. with a prevalence of 31.2% and 83.7% respectively. Samples of swab from the wall, floor and enrichments were predominantly by Candida spp. (42.6%) in NWRC and Penicillium spp. (41.6%) in the National Zoo. Prevalence of multiple fungi isolated from the soil samples in NWRC were 57.9% and yeast species was the most common in National Zoo with a prevalence of 88.9%. Overall, 29 and 8 isolates were found in both samples from the NWRC and National Zoo with a predominant species of potential zoonotic fungi have been identified in both premises. The expected fungus Aspergillus spp. was not isolated in all samples in NWRC. Prevalent fungal species found in this study are known to cause disease in animals and humans as primary pathogen and also as opportunistic pathogens that may also cause infection. Thus, health safety precautions should be considered particularly in dealing with conservation of endangered wildlife species, along with personnel and public involvements