political ties to shake up the government-linked companies. For instance, in 1998, the former premier brought in the first batch of turnaround experts to head the Umno-linked companies and asset management firm Danaharta.

Some of these turnaround experts who generally have a background in business, accounting

When you need a heart by-pass, you call in a cardiologist rather than a general practitioner. When you are in legal troubles, you consult a lawyer. When you have tax problems, you seek advice of a tax consultant. Yet many troubled companies make the fatal mistake of not approaching the right professional for help. Many try to get out of their conundrum using the internal management. Others rely on their lawyers, auditors, etc. These troubled businesses need to bring in turnaround experts and specialists. In fact, the management of some of these ailing companies behaves like a deer caught in the headlights, petrified and totally clueless on how to move forward.

As chief executives and chief financial officers fall from their grace over accounting irregularities and scandals, turnaround managers, with familiar titles such as chief restructuring officers, turnaround specialists or artists, corporate doctors are taking charge of distressed companies to get them up to speed again. In the US, troubled companies such as WorldCom Inc, Enron Corp, Kmart Corp have appointed turnaround specialists to restructure their businesses. Since he Asian financial crisis, even Malaysia has enlisted the use of professionals, armed with impressive credentials rather than political ties to shake up the government-linked companies. For instance, in 1998, the former premier brought in the first batch of turnaround experts to head the Umno-linked companies and asset management firm Danaharta.

Some of these turnaround experts who generally have a background in business, accounting

y try to get out of their conundrum using the internal management. Others rely on their lawyers, auditors, etc. These troubled businesses need to bring in turnaround experts and specialists. In fact, the management of some of these ailing companies behaves like a deer caught in the headlights, petrified and totally clueless on how to move forward.

As chief executives and chief financial officers fall from their grace over accounting irregularities and scandals, turnaround managers, with familiar titles such as chief restructuring officers, turnaround specialists or artists, corporate doctors are taking charge of distressed companies to get them up to speed again. In the US, troubled companies such as WorldCom Inc, Enron Corp, Kmart Corp have appointed turnaround specialists to restructure their businesses. Since he Asian financial crisis, even Malaysia has enlisted the use of professionals, armed with impressive credentials rather than political ties to shake up the government-linked companies. For instance, in 1998, the former premier brought in the first batch of turnaround experts to head the Umno-linked companies and asset management firm Danaharta.

Some of these turnaround experts who generally have a background in business, accounting

clueless on how to move forward.

As chief executives and chief financial officers fall from their grace over accounting irregularities and scandals, turnaround managers, with familiar titles such as chief restructuring officers, turnaround specialists or artists, corporate doctors are taking charge of distressed companies to get them up to speed again. In the US, troubled companies such as WorldCom Inc, Enron Corp, Kmart Corp have appointed turnaround specialists to restructure their businesses. Since he Asian financial crisis, even Malaysia has enlisted the use of professionals, armed with impressive credentials rather than political ties to shake up the government-linked companies. For instance, in 1998, the former premier brought in the first batch of turnaround experts to head the Umno-linked companies and asset management firm Danaharta.

Some of these turnaround experts who generally have a background in business, accounting

companies to get them up to speed again. In the US, troubled companies such as WorldCom Inc, Enron Corp, Kmart Corp have appointed turnaround specialists to restructure their businesses. Since he Asian financial crisis, even Malaysia has enlisted the use of professionals, armed with impressive credentials rather than political ties to shake up the government-linked companies. For instance, in 1998, the former premier brought in the first batch of turnaround experts to head the Umno-linked companies and asset management firm Danaharta.

Some of these turnaround experts who generally have a background in business, accounting

political ties to shake up the government-linked companies. For instance, in 1998, the former premier brought in the first batch of turnaround experts to head the Umno-linked companies and asset management firm Danaharta.

Some of these turnaround experts who generally have a background in business, accounting, finance or operations are called in by the creditors or board of directors who lose faith in the management. In most instances, these specialists have had a significant experience as a CEO, CFO, CIO or COO provide a sense of credibility and glimmer of hope to the board, investors and creditors. . They are a special breed of talent, as they have to be entrepreneurs, visionaries, redesign architects and crisis managers all rolled into one. They have to create resources out of liabilities, find opportunities where none is apparent and travel down uncharted paths to fix “unsolvable” problems. In essence, they have to create value by reinventing the company.

Unfortunately, no company seeking to turn around would run an advertisement that says: “Company not making money and need turnaround specialist. Send in your application.” There are many ways of finding quality professionals to enable you to fix your business. The first place to start looking for a turnaround specialist is to contact your banker, lawyer, external auditor, large accounting firms and various business chambers and associations. Through their previous collaborations, these parties may have the contacts of specialist with the requisite skills

Another way to find the turnaround sp