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Latest Developments in Malaysia’s Terrorism Financing Initiatives

22nd January 2020
Enhanced Assessment on Money Laundering And Terrorism Financing (ML/TF) Risks

Estimated reading time: 5 minutes Enhanced Assessment on Money Laundering And Terrorism Financing (ML/TF) Risks   Financial crimes like money laundering and terrorism financing have been increasing year after year. They are a threat to the economic and financial growth of any country which might have a global effect as well. A rise in such activities has a repelling effect on foreign investments. A recent survey on over 2000 companies conducted by Thompson Reuters disclosed that about half of the participants had faced financial crimes in the past one year alone and on an average they lost about 3.5% of...

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4 Reasons Why Incident Investigation and Reporting is Important

17th January 2020
Incident Investigation and Reporting

Estimated reading time: 5 minutes   Effective Incident Investigation and Reporting   “The main objective of an investigation is prevention. A good investigation aims to establish a series of events that should have taken place and compares it to what actually happened to identify areas that need changing.”   There are hazards in all workplaces; risk control measures are established to reduce the risks to an acceptable level to prevent accidents and cases of ill health. Hence, incident investigations are carried out to determine the cause of an incident. After which, the management identifies unsafe conditions or acts and recommends...

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How to Develop an Effective Maintenance and Reliability Program

14th January 2020
Effective Maintenance and Reliability Program

Estimated reading time: 6 minutes Advanced Reliability and Maintenance Programs   The effective maintenance management is a critical feature of plant operations, both in establishing the conditions for safe ongoing operation of the plant after commissioning, and in supporting the commercial success of the business. Ultimately, the contribution of a maintenance organisation can most effectively be measured in terms of its ability to generate sustained improvements with time in the total (fixed and variable) cost per unit volume of production.   An effective reliability program provides the appropriate maintenance on the right assets at the right time. Rather than performing...

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Understanding Merger and Acquisition in Oil and Gas Industry

14th January 2020
firms mergers and acquisition

Estimated reading time: 5 minutes Mergers & Acquisition in Oil and Gas   The merger and acquisition activity have risen tremendously over the past few years specially in the energy sector. From around $248 billion in the year 2009 to around $512 billion in 2016. One of the major reasons we witnessed such massive growth is due to advancement in technology.   The oil and gas industry had witnessed a slowdown in the merger and acquisition (M&A) deals towards the end of 2018 when the prices took a hit and dropped from $85 to $50 per barrel. Another reason for...

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What is the Project Risk Management Process?

8th January 2020
Project risk management process

Estimated reading time: 5 minutes   Project Risk Management Process   Projects involve many risks such as cost risks, schedule risks and resources risks. Hence as a project manager, you need to be aware of any and all risks that could affect your project. Risk management is not a reactive approach, but a proactive approach that should be part of the project planning process. It involves figuring out the possible risks and how to control that risk if it occurs. Effective risk management strategies enable you to identify your project’s strengths, weaknesses, opportunities and threats. By planning for unexpected events,...

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Why Choose Opus Kinetic?

7th January 2020
training course malaysia

Estimated reading time: 3 minutes Managing International EPC Contracts in the Global Power Industry   Opus Kinetic is one of Asia’s leading provider of training courses for the Oil, Gas and Power industry. At Opus Kinetic, industry professionals learn from some of the most distinguished trainers and experts in the field, with training course agendas tailored to your needs. With a strong network of accreditation and industry partners, Opus Kinetic provides you the best training courses to upgrade your skills. ​We take pride in providing quality, well-researched courses that sets us apart from the rest.   ISO: 29990:2010 accredited Opus...

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6 Tips for Succession Planning

19th December 2019
Tips for Succession Planning

Estimated reading time: 5 minutes   Succession Planning   A succession planning strategy is more than just identifying a successor. Deciding which roles within an organisation to have a succession plan in place is crucial. Many organisations are realising it should not just be the top-level positions that are succession planned. How to create a succession planning strategy, and who should be responsible for the succession planning, is also vital. To get the most benefit from succession planning, your company’s top management must begin with a clear idea of who your company is in order to plan properly for its future....

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5 Tips for Successfully Managing Project Costs

19th December 2019
Managing Project Costs & Budgets

Estimated reading time: 5 minutes Managing Project Costs & Budgets   When planning and managing for project costs, several factors come into play and the ability to successfully manage them will improve the chances of project success. While the 2 most common factors that lead to project delay and increased in project costs are design errors and scope change, there are ways project managers can take for an effective management of project costs and budget. Essentially, one of the most difficult tasks in project management is cost tracking and staying on top of project expenses. Tracking costs involves estimating budgets,...

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Understanding 3D Seismic Data Processing

18th December 2019
3D Seismic Data Processing

Estimated reading time: 4 minutes 3D Seismic Data Processing Seismic data processing is a complex process that comprises of several elements that contribute to its outcome. By definition, seismic data processing refers to the analysis of recorded seismic signals to filter unwanted noise thus creating an image of the subsurface to enable geological interpretation. The goal is to obtain an estimate distribution of material properties in the subsurface.   Processing of Seismic Data After acquiring the seismic data, the data is recorded in digital form by each channel of the recording instrument and is represented by a time series. Processing...

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Integrating Human Factors into Safety Case

16th December 2019
Integrating Human Factors into Design & Operations Risk Framework

Estimated reading time: 5 minutes Integrating Human Factors into Design & Operations Risk Framework   The 2019 National WSH Statistics report revealed that the Construction and Manufacturing industries were the top sources to fatal and major industries with 66 cases each. In the first half of 2019, there were 17 workplace fatalities and the top 3 causes were slips, trips & falls, machinery incidents and falls from height. This further underlines the importance for Major Hazard Installations (MHI) to submit a Safety Case to show that proper safety measures have been implemented and risks have been reduced to As Low...

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