Nova Banking Hall ¸.·´¯`*

All About Credit Cards

2011-03-06T08:55:00.001+08:00

Knowing your cards > http://www.bankinginfo.com.my
1. Visa
2. Mastercard
3. JCB
4. AMEX - Charge or Credit Card
5. Diners Club
6. China Union Pay (中国银联)
7. Etc.

1. Annual fee
Annual fee free credit cards :
- CIMB Direct Access
- CIMB Bank
- American Express Green charge card & American Express Gold credit card
- Public Bank (**minimum swipes apply)
- Alliance Bank (**minimum swipes apply)
- UOB Bank (**minimum swipes apply)
- Maybank (**certain cards only)
- EON Bank (**minimum swipes apply)
- Citibank Choice (**minimum swipes apply)
- Hong Leong Bank Essential VISA (**swipe at least twice a month OR spend RM8,000/year)
- AmBank (**certain cards only)
- OCBC (**minimum swipes apply)

2. Tap and Go - no signature required
VISA payWave
**Payment made via Visa Wave is limited to RM150
MAYBANK
- Maybank Islamic PETRONAS Ikhwan Visa Platinum
- Maybank Islamic PETRONAS Ikhwan Visa Gold
- Maybank PETRONAS Platinum Visa
- Maybank PETRONAS VISA Gold
- Maybank VISA Platinum
- Maybank VISA Wave

EON Bank
- GSC-EON Bank VISA Wave
- VISA Wave 'n Go
- Berinda Homes VISA Wave
- Johor Bahru City Square VISA Wave
- Penderosa Gold & Country Club VISA Wave

UOB Bank
- UOB ONE Card

MasterCard Paypass
**Payment made via MasterCard Paypass is limited to RM120
CIMB Bank
- all MasterCard

CIMB Islamic Bank
- all MasterCard

Direct Access
- all MasterCard

Touch n Go
CIMB Touch 'n Go Visa (This is the first credit card with Touch and Go embedded)

3. Credit Card linked to Petrol
- OCBC Titanium MasterCard <> all petrol stations = 5% cash back
- Citibank Cash Back VISA Platinum <> all petrol stations = 5% cash back
- UOB <> BHP Petrol = 2% cash back (UOB One only), 1% cash back (others)
- Citibank <> SHELL (This only applicable for Citibank Shell, Citibank Cashback Plat applies to all petrol stations)
- Maybank/Maybank Islamic <> PETRONAS = 5x Treatpoints
- CIMB Bank/CIMB Islamic <> PETRONAS = 2% cash back
- Public Bank ESSO/Mobil VISA <> ESSO/MOBIL = 0.5 - 5% (tier-based)
- RHB Travel Money <> all petrol stations = 2% cash back (5% cash back every first weekend)
- AMBank Carz <> all petrol stations = 2% cash back (3% for Gold and 5% for Platinum, provided there is an outstanding)

**All range of American Express charge & credit cards give 2x MR/TP on petrol purchases whilst AMEX Gold credit card and Maybankard 2 AMEX give 5x MR/TP. This applies to all petrol brands.

4. Standard financial charge (interest rate)
Tier 1 > 13.5% p.a.
Tier 2 > 16% p.a.
Tier 3 > 17.5% p.a.

Cash advance: 18% p.a from the date of withdrawal.
Late payment: 1% of outstanding or RM 5 whichever is higher.
Minimum payment amount: 5% of outstanding or RM 25/RM 50 whichever is higher.

5. Complimentary Cards
1) HSBC Premier - deposit and maintain RM200k
2) Citibank Citigold - deposit and maintain RM200k
3) Standard Chartered Priority Banking - deposit and maintain RM250k
4) UOB Privilege Banking - Opening deposit of RM300k with maintenance of RM200k
5) OCBC Premier Banking - Opening deposit of RM300k with maintenance of RM200k
6) CIMB Bank Preferred Banking - deposit and maintain RM150k
7) Hong Leong Bank Priority Banking - deposit and maintain RM200k
8) Alliance Bank Privilege Banking - deposit and maintain RM200k
9) RHB Bank Premier Banking - deposit and maintain RM200k
10) Public Bank Red Carpet Banking - deposit and maintain RM500k or a Mutual Gold customer with a total combined deposits of RM200k in savings/current/fixed deposits.

6. American Express
Charge card
AMEX charge card gives 2x Membership Rewards Points for all petrol purchases. This applies to all petrol brands. All other spending will also earn you 2x Membership Rewards points.

Credit card
AMEX Gold credit card
5x Membership Rewards Points for every Ringgit spent on groceries, petrol, bookstores - Kinokuniya, Borders, Times and MPH - and telco charges via Express Autopay - Celcom, Digi, Maxis and TM. 2x Membership Rewards points for all other retail transactions.

AMEX Platinum credit card
10x Membership Rewards Points for every Ringgit charged to your card at Platinum partners. Please refer to American Express MY for the latest list of Platinum partners. All other retail spending earns you 2x Membership Rewards Points.

Maybank Islamic Ikhwan AMEX
5x TP on petrols.
2x on all other retail swipes.

Link to AMEX thread: http://forum.lowyat.net/topic/547867

7. International Transactions
Transactions incurred will be converted to Ringgit Malaysia using US Dollars as the base currency on the date the item is received and/or processed at such exchange and at such time as may be determined by VISA International/MasterCard Worldwide at its absolute discretion plus administration cost which is to be imposed by the card issuing bank. The exchange may differ from the rate in effect on the date of the transaction due to market fluctuations. Such rate imposed shall be final and conclusive and the Cardmember shall bear all exchange risks, losses, commission and other bank charges which may thereby be incurred.
- Maybank VISA/MasterCard : 0.5%
- Maybank American Express with Maybank logo on top : 1.5%
- American Express : 2.5%
- CIMB Bank : 1%
- Hong Leong Bank VISA/MasterCard: 1%
- Public Bank : 1.25%
- Citibank : 1%
- HSBC : 1.25%
- EON Bank : 1%
- UOB Bank : 1%
- Standard Chartered : 1%
- OCBC bank : 1%
- Alliance : 1% (verified by hebe87)

Exchange rate estimator : http://corporate.visa.com/pd/consumer_serv...er_ex_rates.jsp

8. Credit Card Cancellation Letter
QUOTE
Credit Card Cancellation Letter

[Your name]
[Your address]
[Date]

Dear Sir or Madam:

Please let this letter serve as notice that I am terminating my credit card account effective immediately. Please close the following account:

Credit Card Company: ____________
Account Number: ________________

Please send me written confirmation that my account has been closed. Also, please confirm that you have notified all appropriate credit card bureaus that this account was closed at my request.

Thank you for your prompt attention to this matter.

Sincerely,
[Your Signature]

9. Cash Advance fees
Citibank: 5% of cash amount (min RM20), and 18% p.a. daily interest (N/A for Ready Cash)

UOB: The cash advance fee is charged to any withdrawal of cash made. This is imposed for each cash advance transaction. 5% or RM20, whichever is higher.

Maybank: VISA/Mastercard (Both Classic and Gold) | Flat rate of 5.00% of the total amount of cash advance | Min: RM10

CIMB DA: 5% of the amount drawn, subject to a minimum of RM15, whichever is higher.

CIMB: 5% of the amount drawn, subject to a minimum of RM15, whichever is higher.

HSBC:
The cash advance fee is 5% of the amount advanced or a minimum of RM15. Whichever is higher. This is imposed for each cash advance transaction
For HSBC Amanah Charge Card, cash advance is capped at RM1,000 per transaction and a fee of RM60 per transaction will be levied
For cash advances made over the HSBC banking counter, there will be an additional charge of the following:-
- RM50 on credit cards issued by local banks other than HSBC - RM20 on credit cards issued by non-Malaysian card issuers (including JCB)
- Cards issued by HSBC Bank Malaysia and the HSBC Groupare exempted from this charge

OCBC: The cash advance fee is 5% of the amount advanced or a minimum of RM15, whichever is higher. This is imposed for each cash advance/casino chips transaction.

HLB Essential: 2% of the amount advanced or a minimum of RM5, whichever is higher. This is imposed for each cash advance transaction. Minimum withdrawal for each cash advance is RM200.

10. Verified by Visa and Mastercard Securecode
Verified by Visa ---> http://www.visa-asia.com/ap/sea/merchants/...vbv_intro.shtml
Participating banks :
- HSBC
- Standard Chartered
- Maybank (MSOS)
- CIMB Bank
- Public Bank
- RHB Bank
- AmBank
- Hong Leong Bank
- EON Bank
- Alliance Bank
- MBF Cards

MasterCard SecureCode ---> http://www.mastercard.com/au/personal/en/c...code/index.html
Participating banks :
- HSBC
- Standard Chartered
- Maybank (MSOS)
- CIMB Bank
- Public Bank
- RHB Bank
- AmBank
- Hong Leong Bank
- EON Bank
- Alliance Bank
- MBF Cards

11. Balance Transfer: http://forum.lowyat.net/topic/1123346

12. RM50 Government Service Tax - Currently STILL IN FORCE
With effect from 1 January 2010, there will be service tax imposed on credit card as follows :
i. RM50 per annum on each Principal Card; and
ii. RM25 per annum on each Supplementary Card
The service tax will be collected on the date the card is issued, or on the completion of each year or on the date of renewal of the card (except HSBC which will be billed 1 month later). This means that the above mentioned service tax shall be levied on new credit card issued effective from 1 January 2010. For existing credit cards issued before 1 January 2010, the service tax shall be levied upon anniversary of card issuance.

13. Airport Lounge Access
Alliance Plat - UNLIMITED access to Plaza Premium Lounge KLIA
Citibank Premier Miles - worldwide airport lounge twice a year (saw thier website need to apply before hand). Access to Plaza Premium Lounge KLIA 12 times a year PLUS the Priority Pass with 2 free admissions worldwide (subsequent need to pay). PP is for principal ONLY
Citibank Plat - Free access to Plaza Premium Lounge KLIA with a limit of 12 times a year
SCB VI - gives Priority Pass membership with UNLIMITED free admissions for principal ONLY
SCB Platinum - UNLIMITED entries to Plaza Premium Lounge KLIA for principal ONLY
HSBC Premier - don't even have access to Plaza Premium Lounge KLIA
EON Bank Visa Signature - free priority pass membership for limited free lounge visits worldwide
EON Bank (certain platinum cards) - Free access to Plaza Premium Lounge KLIA, LCCT, Senai & Changi (monthly quota applicable)
UOB Privilege Banking Platinum - UNLIMITED access to Plaza Premium Lounge KLIA, LCCT & Senai
UOB Midas & Preferred Platinum - Free access to Plaza Premium Lounge KLIA, LCCT & Senai (subject to monthly access quota of first 400)
RHB Plat - 4X a year at Plaza Premium Lounge KLIA, LCCT and Senai. 4X access shared with supp card (i.e. supp card also can enter free)

Remark: Most of the Platinum cards issued in Malaysia can only grant free access to KLIA Plaza Premium Lounge only, not the lounges in LCCT and JB.
SCB VI through Priority Pass and Amex Platinum charge card at most of the lounges worldwide.

14. Previous versions
See site.

15. Useful information
BNM issued guidelines in 2003 that limits consumer liability in cases of fraud to only RM250. See the actual document here. (Courtesy of tishaban) (thanks awaynoway for the updated link)

Credit information:
CCRIS: http://creditbureau.bnm.gov.my/
CCRIS report - go to Bank Negara yourself and use self-service terminal to get report with MyKard (you need to go as need thumb print).
CTOS: http://www.ctos.com.my/
BRIS: http://bris.com.my/index.html

Swipe Smart with 6E:
http://www.abm.org.my/Swipe_Smart_with_6E_...ffectively.aspx

16. FMB - Financial Mediation Bureau
http://www.fmb.org.my/index.htm

17. AKPK
- An agency set up to provide financial education, financial counseling and debt management
http://www.akpk.org.my/Home/tabid/36/Default.aspx

Link to AKPK thread : http://forum.lowyat.net/topic/876712

18. Other Links By Users
A blog about credit cards > My Credit Cards

19. Credit Card/Charge Card Reward Points
Validity of numerous credit card/charge card reward points
1) HSBC - up to 3 years
2) Citibank - reward points are evergreen
3) Maybank - reward points are evergreen
4) CIMB Bank - 3 years
5) Alliance Bank - reward points are evergreen
6) Standard Chartered - 3 years (**SCB VI Choice Points are evergreen)
7) American Express - Membership Rewards Points are evergreen
8) Hong Leong Bank - up to 3 years
9) AmBank - up to 3 years
10) RHB Bank - 3 years for Platinum and 2 years for all cards ranked lower than Platinum
11) UOB - 3 years
12) EON Bank - 3 years

20. Premium Credit Cards and its requirements
1) CIMB & DA World Mastercard/Visa Infinite - Min Income Requirement : RM 200k
Existing HSBC Cardholder with CL RM30k and above OR Citibank CL RM50k and above OR Other banks RM70k and above MIGHT also be accepted, limited time promotion only
2) CIMB Enrich World Mastercard - Strictly by Invitation (those with card usage above RM 500k per annum may be considered)
3) CIMB VISA Signature - Min Income Requirement : RM100k
4) Maybank World Mastercard - Min Income Requirement : RM 240k
5) MBF World Mastercard - Min Income Requirement : RM 200k (By Invitation)
6) Standard Chartered Visa Infinite - Only for Priority Banking customer (RM 250k in deposits)
7) RHB Visa Infinite - Strictly by Invitation Only
8) HSBC Premier Mastercard - Only for HSBC Premier customer (RM 200k in deposits)
9) EON Bank VISA Signature - Min Income Requirement : RM180k

21. Best Credit Cards and its categories
Please note these are just recommendations based on normal spending. High spending or specific usage individuals might want to look at other cards.
1) Classic Card = Hong Leong Essential
2) Gold Card = Alliance Younique, Maybankard 2 AMEX
3) Titanium Card = OCBC Titanium / Standard Chartered Titanium (**product withdrawn from sale)
4) Platinum Card = Alliance Platinum / SCB Business Platinum / Citibank Cash Back Platinum / AMEX Platinum Charge Card (assuming AF is waiveable)
5) Visa Signature = EON VS
6) Visa Infinite = SCB VI
7) World MasterCard = Maybank WMC (assuming AF is waiveable)

22. Credit Cards with Complimentary Travel & Accident Insurance
1) All HSBC/HSBC Amanah credit cards
2) All Citibank credit cards (except all co-brand cards, cash back)
3) All Public Bank generic credit cards
4) All Maybank generic credit cards
5) All AMEX charge card & AMEX Platinum credit card
This post has been edited by MilesAndMore: Feb 1 2011, 10:26 AM

Outlook on Middle Range Rental Property Prices

2011-01-27T07:49:00.003+08:00

Reasons Middle Range Property Prices Going Up
1) Increase in commodity prices
2) Low financing cost
3) Relatively high margin financing (compare to other region in SEA)
4) Economy growth spur increase in purchasing power
5) Investor rush in to lock in low installment on rising interest rate environment
6) Increase on overall price from inflationary pressure
7) Extension of MRT link across greater KL
8) Increase of middle income earner to stay in middle range property

Reasons Property Prices To Go Down
1) Oversupply in property
2) Less speculator in the market (70% margin financing on 3rd property loan)
3) Reintroduction of RPGT

Suggestion:-
Focus on middle range rental property. On increasing property prices, its more difficult for young exec to own a property thus demand for property rental will increase. On the expansion plan of Greater KL MRT project, target properties which are within the "radar" of proposed LRT location. Rental price will appreciate along with property price and also installment thus on the environment of rising interest rates and commodity prices, rental price shall continue to appreciate. There is potentially flat time on property prices however i dont think there shall be any major correction in rental based property as rental income is downward sticky thus property price is always a function of the rental yield from property (or vice versa which conservatively is 5% of property price). If economy continue to do well, low income will move low range property to middle range property while if economy turn the another way, high income will move from high range property to middle range property thus ensuring demand on such rental market at any time. Any capital gain shall be attribution of a new township plan. For value buy, look at Kajang or Sungai Buloh.

How To Walk On Water

2009-11-27T10:57:00.000+08:00

This past Sunday I was relaxing at the water’s edge of a local beach when a young boy ran full speed right by me and into the shallow surf. He continuously hopped up and down as he was running forward, kicking his little legs in the air and across the surface of the water before inevitably falling face-first into the waves. He got back up and repeated this act several times, each time with more determination than the previous attempt. It became obvious that he was trying to run across the surface of the water. I couldn’t help but to laugh. His combined levels of determination and exertion were priceless.

After several attempts, he noticed my laughter and walked over to me. “What’s so funny?” he asked.

“You remind me of me, and it makes me smile.” I said.

“Do you know how to walk on water?” he asked. “Like a superhero?”

“Well, I think I can help you out.” I said. “Let me give you a few pointers.”

Curious, the boy sat down on the sand next to me. His mother scurried over, worried… but I reassured her that her son wasn’t bothering me. Relieved, perhaps, to have her son sitting safely on the sand instead of flying face-first through the air, she went back to her beach chair 20 feet away and continued a conversation with another lady.

“So, you want to walk on water, eh?” I asked. He nodded his head anxiously.

A Rough Summary of What I Told Him

Make sure you were born to walk on water. – You must follow your heart, and be who you were born to be. Some of us were born to be musicians… to communicate intricate thoughts and rousing feelings with the strings of a guitar. Some of us were born to be poets… to touch people’s hearts with exquisite prose. Some of us were born to be entrepreneurs… to create growth and opportunity where others saw rubbish. And still, some of us were born to walk on water… to invent the capability of doing so. If you’re going to walk on water, you better feel it in every fiber of your being. You better be born to do it!
Decide that nothing can stop you. – Being born to walk on water isn’t enough by itself. We must each decide to accept our calling. Unfortunately, most of us make excuses instead. “But I might drown trying,” we say. Or, “But I have a family to think about first.” Walking on water, or doing anything that hasn’t been done before, requires absolute, unconditional dedication. The only person who can control your level of dedication is you. If you’re serious about walking on water, you must decide that nothing… not gravity, not a group of naysayers, NOTHING… can stop you!
Work on it for real. – While many of us decide at some point during the course of our lives that we want to answer our calling… to accomplish our own version of walking on water, only an astute few of us actually work on it. By “working on it”, I mean truly devoting oneself to the end result. The rest of us never act on our decision. Or, at best, we pretend to act on it by putting forth an uninspired, half-ass effort. But to truly walk on water, you’ll have to study physics, rheology, hydrophobic substances, etc… and then you’ll have to define and redefine next-generation theories and complex hypotheses, which must be tested relentlessly. When the tests fail, you must be ready to edit your theories and test them again. This kind of work, the real kind, is precisely what enables us to make the impossible possible.
Let the whole world know what you’re up to. – When you’re trying to walk on water, or do anything that nobody else has done before, life can get lonely pretty quickly. To keep your motivation thriving, it’s important to let others know that you’re attempting to defeat the formerly impossible. Don’t be shy! Let the whole world know that you’re trying to walk on water. No doubt, it’ll place a bit of extra pressure on your back, and you’ll almost certainly hear some laughter in the crowd. But this kind of pressure fuels motivation, which is exactly what you’ll need to accomplish such a colossal undertaking. And when you finally do succeed, the last bit of laughter heard will be your own.
Value the people who value your ambitions. – When most people hear about your “mission impossible” aspirations, their natural reaction may be to roll their eyes, call you crazy, and tell you to quit being foolish. But fortunately, the world is also inhabited by pioneers and believers who see the value in your dreams. These people understand that achieving the formerly impossible is one of the greatest gifts human beings possess. They’ll likely give you tips, bits of assistance, and the extra push you need to succeed. These are extraordinary people, and you’ll want to surround yourself with them, because they will ultimately assist you over the hurdles and across the surface of the water. Think of them as an influential, personal support team. Without them, walking on water will be a far more difficult feat, if not completely impossible.
Ignore the negative naysayers. – No matter how much progress you make, there will always be the people who insist that walking on water is impossible, simply because it hasn’t been done before. Or they may incessantly suggest that the idea as a whole is utterly ridiculous because nobody really cares about walking on water anyways. When you come across these people, don’t try to reason with them. Instead, forget that they exist. They will only waste your time and energy.
Prepare yourself for the pain. – Even though you’re no longer mindlessly running face-first into the oncoming ocean surf, but instead forming complex theories based on the studies of rheology and fluid viscosity, it doesn’t mean you won’t experience your fair share of pain. You’re in the business of walking on water, of doing something that has never been done before. You’ll likely get a waterlogged, lungful of water on a regular basis. But the pain will seem like a small price to pay when you become the first person to jog across the rapids of the Mississippi.
Enjoy the pain of your greatest challenge. - Superheroes aren’t real. In real life nobody has ever walked on water. But lots of people have achieved formerly impossible feats, and continue to enjoy the possibilities of new challenges. These people will all tell you there’s nothing more gratifying than the thrill of your greatest challenge. The inherent pains along the way are simply mile markers on your trip to the finish line. When you finally do finish, you may actually find yourself missing the daily grind. Ultimately, you’ll realize that pleasure and pain can be one and the same.
Never give up! Never quit! – The reason nobody has walked on water isn’t because people haven’t tried. Remember, you just tried several times in a row, and I’m sure many others have too. The reason nobody has succeeded is, simply, that within the scope of modern science and physics, it’s currently impossible. But this doesn’t mean that with your help it won’t become possible in the future. If you were born to do it and truly dedicate yourself to the end result, anything, including walking on water, is entirely possible!

Just a Chance

When we were done talking, the young boy got up and ran back over to his mother. He pointed over to me and I smiled and waved back. Then he said to her, “Mommy, mommy! That guy just taught me how to walk on water!”

A few moments later she walked over to scold me for supposedly giving out reckless advice. She told me I was giving her son a false sense of hope. I told her all I was giving him was a chance.

Datuk Bridget Lai and Me Interviewed By The Edge

2009-11-21T10:08:00.002+08:00

Betting On The Market?

2009-09-27T23:58:00.003+08:00

"To demonstrate the strong conviction underlying its research view on the Singapore market, Fundsupermart.com will donate S$50,000 to a local charity if the FTSE Straits Times Index (STI) does not hit the forecast level of 3,600 points at any time from today till the end of 2011."

What I have to say?

I truly confident that market will continue to appreciate for the next 2 to 3 years. Not just saying it but I'm betting most of my money in the market at the moment. I even go to the extend of leveraging (borrowing) to invest. I take full responsibility in what i say because i bet my own money into the market. Which i'm exposed to potential downside of losing almost all of my monies. However betting S$50,000 is nothing, considering the limited downside and unlimited upside from the potential up front commission and trailer comission to be collected by FSM.

The main thing is not about S$50,000 or giving it to the charity. What i wish to highlight is that, don't blindly buy things that you are recommended for. Because eventually no one will be able to guarantee anything (beside goverment bonds). This is because, eventually you are bound by the clause "we are not responsible for any lose caused by our recommendation".

Take note that from current STI level of about 2600 to 3600 by end of 2011 is a appreciation of about 20%pa. There is none "guaranteed" return that can give so much. Therefore, do your homework and research before buying any investment. Don't put your whole life of savings into this betting and risk of losing millions of dollars.

Attached below is the SM's recommended portfolio which are launched since year 2002. Until now, these portfolio's would have celebrated their 7th anniversary. Below are the performance of the recommended portfolios by FSM. Incase you don't know what is IRR, it means "internal rate of return".

For example, if you would have follow the recommended portfolio's aggressive portfolio since launch till now, your portfolio return will be 0.6% per annum for the past 7 years. This is clearly not impressive.

Where Are the Customers' Yachts -

"A visitor to New York who admired the yachts of the bankers and brokers. Naively, he asked where all the customers' yachts were? Of course, none of the customers could afford yachts, even though they dutifully followed the advice of their bankers and brokers. Full of wise contrarian advice and offering a true look at the world of investing, in which brokers get rich while their customers go broke, this book continues to open the eyes of investors to the reality of Wall Street."

AMANAH SAHAM 1MALAYSIA

2009-08-01T09:43:00.003+08:00

KUALA LUMPUR: Some 50,000 first-year students of local public institutions of higher learning will get 100 units of the newly-laun-ched Amanah Saham 1Malaysia.

Prime Minister Datuk Seri Najib Tun Razak announced the incentive at the launch of the new trust fund, which has 10 billion units, with each unit going for RM1.

Amanah Saham 1Malaysia is the biggest trust fund in the country, and will go on sale from Aug 5.

“As a special consideration, the Government has agreed that every student who enrols in a public institution of higher learning, who are in their first year this year, will receive 100 units of Amanah Saham 1Malaysia for free,” he said.

The students eligible are those who recently enrolled for their first degree in the mid-year intake.

“As they represent the country’s future, we want to see the young generation obtain education, at least up to a degree, so that they become citizens who are visionary and progressive,” Najib said.

The free units for the students, which total around RM5mil, were contributed by Permodalan Nasio-nal Berhad (PNB) and Amanah Saham Nasional Berhad (ASNB) agents – Malayan Banking Berhad, CIMB Bank Berhad, RHB Bank Berhad and Pos Malaysia Berhad.

To ensure that the units are fairly distributed, Najib said that for the first 30 days of sale (Aug 5 to Sept 3), 50% of the units have been allocated to bumiputras, 30% to the Chinese, 15% to the Indians and 5% to other races.

In the 30-day period, the maximum investment for an investor below 55 will be 50,000 units, while investors above 55 can purchase a maximum of 100,000 units.

After the period, the cap on purchase on unsold units will be lifted, and sale will be open to all Malay-sians above 18.

Najib said he was confident the units would be snapped up fast, citing the Amanah Saham Malaysia, which sold out within 45 minutes after its opening in 2006.

“With a fund size of 10 billion, Amanah Saham 1Malaysia will be able to boost the equity market and act as a catalyst to the country’s economy,” he said.

Investors can buy the units at ASNB offices and post offices from 8am to 5pm from Aug 5, and at Maybank, CIMB Bank and RHB Bank during the banks’ operating hours.

Sources:-

http://www.asnb.com.my/as1msia.htm

http://thestar.com.my/news/story.asp?file=/2009/8/1/nation/4438844&sec=nation

http://www.asnb.com.my/prospectusall.htm

Claustrophobia (Cantonese) - Worst Movie I Ever Watched

2009-05-01T12:27:00.003+08:00

Director: Ivy Ho
Starring: Ekin Cheng, Karena Lam, Andy Hui, Eric Tsang
Genre: Romance / Drama

Love is a virus. It incubates silently. It strikes suddenly. Its favorite breeding ground is small, crowded, claustrophobic spaces such as an office. Pearl, a marketing executive in her twenties...

It has been a long time I have not watch any new movie by Ekin Cheng. Infact I quite like his movies. Secondly is Karena Lam, I remember I watched a movie by her with Jacky Cheung (July Rapshody) which I liked a lot too. Since there are also other big cast such as Eric Tsang and Andy Hui in the movie, therefore I decided to give this movie a go.

When I was at the ticketing counter, I was quite surprise that there are more than 50% seats available for this movie despite this is a new movie. And the cinema hall used for this movie is very small. I didn't suspect much just thinking that maybe Wolverine, Fast and Furious 4, Sniper, Mall Cop and others beat this movie.

Finally is the movie begins.... with a boring starting about 5 colleagues talking in the car.... for about 15mins... Then the scene turn back to "1 week ago" .... go see doc... Then the scene turn back to "1 month ago".... talk talk chat chat drive car... Then the scene turn back to "2 months ago" talk talk chat chat drive car... and this continues for "3 months ago, 4 months ago, 5 months ago, 6 months ago, 1 year ago" where mostly are talk, chats, driving scenes. The talk and chats talks about a lot of things which are not related to their relationship (Between Ekin and Karena.... if there is even any relationship).

I tried to be very focus in this movie. I really don't want to waste my time and money because I believe every movie exist for a reason. Suddenly .... THE END... HUH??? I really don't understand what happened. There is no story line and the message tried to send out is not clear. Even for a moment I thought this is a ghost story... or maybe story related to recession... The movie description says that this is a love story... interestingly its the only love movie that I have seen which has no kissing or hugging scene...... actually don't even have holding hand scenes... just a bit of cries here and there.

I'm so dissappointed with this movie. I hope the cinema can ban this movie.... I consider this movie belongs to the trash bin.

Technique Used By Multi Level Marketing (MLM)

2009-03-03T11:44:00.003+08:00

Technique used by MLM

1) Make it a success secret.
- Only if you are very keen, else I won't share with you. Create a sense of opportunity which is not shared with anyone whom are not potential. In reality, they will share with any kucing kurap. Even if you say you are not keen, they will keen contacting you.

2) A CEO or professor or a big business man are also involved in this business
- If they are in the business, then you should do it too. You will be positioned as peanut or small potato. Even CEO is doing it, why not you?

3) Come my house for a party, Christmas Celebration, New Year Celebration or pot luck party.
- encourage you to bring as many new friends as possible. Which eventually your friends will be the target for their next prospect

4) Join us for outings, travel, movie, sports, learn facial treatment, learn business, learn about success, learn about life, do charity etc
- Bring as many new friends as possible. Eventually your friends will be their next target prospects.

5) 5,000 people quit their job and benefited from this business
- however failed to point out that 1,000,000 people failed to continue. End up losing money and wasting their time and effort.

6) Don't listen to "dream killers" whom discourage you to do this business
- This is a pre-attack defensive move. Some kind of immunation system injected into yourself. This is because there are high rejection on such plan in the society, thus you will be pre-brain washed that "dream killers" will stop you, thus don't listen to them.

7) Initial start up capital is very small. Just RM 150 to be member and you can start to own your business
- However eventuall you will realise that you need to pay for using the training materials, there are express success lane if you pay a hefty amount of money to buy stocks which will "promote" you to the "manager/gold/diamon/sphere and other crappy levels".

8) You have freedom to use your time. Spend more time with family and do things you like
- However most of the time you are actually working. Everyone you meet day and night, your mind is thinking about sharing your business plan ie you are actually working most of the time.

9) Show off their success... park luxury cars in front of the seminar hall, wear blazer and constantly conduct award ceremony
- However most cars are on installment basis which are used to create the sense of success to other sides. Some of these luxury cars even installed NGV thanks.
- Dress smart and dress up to show the look of success.....
- Award ceremony if you buy or use or sell RM X amount of product. Basically is a "self paid" success ceremony.

10) Your children can inherit your "business"
- Term and condition apply. Your children need to achieve RM X amount of personal sales and group level of RM X amount of total sales in order to continue enjoying the passive income. Pre-attack strategy, don't worry when the business is so successful, he can even use his personal money to buy those products and get back his own commission. Finally end up the whole house with lots of unused products

11) Our products are high quality. Value for use
- Failed to point out lack of choices and varieties comparing to hypermarket.

12) You will make money from using your own product
- But the products are more expensive then other product available by hypermarket (lets ignore the quality talk first). Therefore you are actually paying more and later get back the so call commission which is actually the premium price you have paid.

13) Our business is an efficient business that take product directly from the manufacturer. The money saved from multi distribution and promotion cost are paid back to you ask commission and "bonus"
- Its basically a decision made on the distribution channel. For some MLM its because of lack of distribution channel.

14) This system is very fair and everyone whom cn perform will be "promoted"
- Its a method to sell the feeling of success again. As many believes that in existing working environment, there is only one manager. If you want to be manager, you need to wait your manager to retire and also provided that you are a good ass kisser. Therefore why not involve in a business that allows you to promote any time.

15) You have nothing to lose, lets not talk now. Come to our seminar, we will share more with you
- When you go there, first of all will show the mercedes, then award ceremoney, sing song, introduce "success people" to you and finally a group of people will brain wash you.

16) This plan is not as simple as you thought, its a detailed plan which you must come to our seminar
- They will not disclose their company name, product name etc and insist you come to their seminar. This is because 1 to 1 is a very weak "closing sales" opportunity. Therefore when you are in their environment and surrounded by their people, their top sales will come and help to close sales. " Do you have IC with you? Or do you have RM50 now? " will be the last closing sales method.

17) I have business in Singapore, Vietnam, China, Indonesia etc
- In reality, they have downline in those country or their downline has downline in those country. That's all.

18) You are very potential, I want you to be my business partner / I have a friend from Australia, he's looking for a business partner like you.
- What they really mean is that I want you to be my downline and one of my upline's upline is from Australia. You will end up to be the Australian's down down down line.

Please don't get me wrong, I am not an anti-MLM person. Infact MLM system is indeed very efficient. Just that i'm not keen to sell tooth paste or fruit juice. I am not selling tooth paste? But selling a networking business? Its crap..... if you just sell membership and no product, you won't get a dime unless its "skim cepat kaya" which is technically illegal but position in other way such as "member get member" scheme etc.

Are You Still A Street Fighter?

2009-03-02T14:18:00.001+08:00

Nova Room's Drinking Corner

2009-02-09T13:41:00.001+08:00

Cunning couples

2009-02-04T10:49:00.002+08:00

Homophones, words that sound alike but convey different meanings, form many of these confusing pairs. Used wrongly in writing, they reflect someone with a poor grasp of grammar or a confused writer.

Be mindful of these cunning couples and be confused no more!

Accept (v.) — to agree to take something.
Except (prep.) — not including.
“Boss, I accept all your free books except ‘1,000 Ways to Manage Houseflies’,” said Pee Nang to Kay El.

Advice (n.) — one’s opinion about what somebody else should do or how they should behave.
Advise (v.) — to give advice to somebody or to recommend something to somebody.
“Are you sure, Pee Nang? I’d strongly advise you to reconsider the manual. You may regret not taking my advice if you’re suddenly faced with flies,” Kay El said.

Affect (v., pronounced uh-fekt) — to have influence on something or somebody.
Effect (n., pronounced ee-fekt) — a change produced by an action or a cause.
“Yes, I’m positive, Kay El,” Pee Nang answered. “If my mother’s way of handling house flies has affected them greatly by reducing them to zero, I don’t think I need to know the effect that 999 other ways have on them.”

All ready — completely prepared.
Already (adv.) — previously or by this time.
“Ahh ... looks like your house is all ready for living,” Kay El praised. “To tell you the truth, although I’ve already read the manual twice, I’m still having problems at my home!”

Beside (prep.) — at the side of somebody or something.
Besides (prep.) — in addition.
Pee Nang laughed. “I’ll be happy to tell my mother about your housefly problem. Since she lives beside my house, she could drop by your place later. Besides, she will be excited to have you try the apple pie she baked today.”

Complement (v.) — to add new or contrasting features which show the best qualities of something or which improve it.
Compliment (v.) — express praise, admiration or approval.
“That will be wonderful!” Kay El said. “I always forget to compliment your mother on her apple pie. It will be the perfect complement to the vanilla ice cream I’m having for dessert tonight.”

Dessert (n., pronounced dee-zert) — any sweet food eaten at the end of a meal.
Desert1 (n., pronounced deh-zert) — a large area of land that has very little water and very few plants growing on it, e.g. the Sahara Desert.
Desert2 (v., pronounced dee-zert) — to go away from a place without intending ever to return.
“Ice cream for dessert?” Pee Nang exclaimed. “Your place doesn’t exactly sound like the depressing desert1 you always portray it to be. You make it seem as if the whole world has deserted2 you!”

Maybe (adv.) — perhaps.
May be — to express possibility.
“Maybe I could have exaggerated my situation a bit. But seriously, I may be having a rather serious house fly problem,” Kay El explained in a doleful tone.

Breath (n., pronounced breh-th) — the air you take into and let out of your lungs.
Breathe (v., pronounced bree-th) — the act of taking air into and letting out of your lungs.
“Okay, take a deep breath,” Pee Nang assured Kay El with a smile. “I may have been too hard on you. Once my mother works her magic at your place, I’m sure you’ll breathe easier after that.”

Coincident (adj.) — happening in the same place or at the same time.
Coincidence (n.) — similar event happening at the same time by chance.
“Talking about breathing, isn’t it a coincidence that the houseflies started appearing the day after you came over with those pungent prawn crackers?” Kay El remarked. “I remember reading that the presence of house flies is coincident with the presence of dried seafood.”

Loose (adj.) — not tight.
Lose (v.) — present tense for “lost”.
“Now, now, Kay El, let’s not lose track of the discussion here,” Pee Nang said hurriedly. “We were talking about fixing your house fly problem.”
In an undertone, he muttered, “And not about a loose pack of prawn crackers disappearing in your home ...”

Later (adv.) — afterwards.
Latter (adj.) — the second of two things or people already mentioned.
“You were going to confirm the time my mother could drop by later. Now you’re going back to a visit I made in the past,” Pee Nang reminded Kay El. “Let’s not confuse the former with the latter, shall we?”

Personal (adj., pronounced as per-suh-nuhl) — private.
Personnel (n., pronounced as per-suh-nell) — staff members
“Anyway, let’s not take things personally,” Pee Nang said cheerily. “By the way, the Personnel Department is questioning me about being away from the office for three hours yesterday.”

Principal (n.) — administrator.
Principle (n.) — guiding rule for personal behaviour.
“I’m sure you were on company business. I know you to be a man of principle,” Kay El said. “The head of the Personnel Department is always acting like a school principal.”

Quiet (adj., pronounced kwai-yuht) — silent.
Quite (adv. Pronounced kwait) — very or actually.
“You are quite right I am!” Pee Nang replied emphatically. “Now that we are all settled, I’ll just slip away quietly.”

Than (conj.) — used after a comparative like “faster”, “cleaner”, “healthier”, etc.
Then (adv.) — referring to a time in the past or future.
Waving goodbye, Pee Nang called out, “I’ll see you later then!”
As Kay El waved in return, he wondered if managing his house fly problem would be easier than managing his young employee.

I found above article useful as myself also sometimes confuse with a few words give above. Therefore decided to save it in my blog. The original article is taken from http://www.thestar.com.my/lifestyle/story.asp?file=/2009/2/4/lifefocus/2967053&sec=lifefocus

Open Burning At a Crematorium In Bandar Baru Sentul

2009-02-02T19:15:00.002+08:00

I had moved to Melur Apartment at Bandar Baru Sentul for almost 5 months by now. Something that I realise is that this place gets dusty than my old place dispite we are living at the top floor (level 24). Infact I remember my housemate also made the same comment.

Opposite our apartment are some old Hindu Temples. They have been there since I moved in and some even said since 100 years ago. Today I found out something shocking...! As today is the replacement holiday for Federal Territory, I am on leave thus leaving my home at about 4pm. When I am on the way to take my car which is park outside due to limited car park, I see many people gathering at a site near the Hindu Temple. I suspect something is wrong because I can see from the faces of everyone of sorrow and downs. Then i asked around, they said " bakar orang mati " :-S

I went online to do some research about this issue. This issue has been highlighted to the government since early of 2008. Authorities, politicians and NGOs have visited the site many times and many broken promises have been made to build proper facilities to cover the crematorium site. Currently the buring is done "openly". In another way means that burning of corpses is NOT shelthered from public view.

According to other residents of Pangsapuri Melor. Smoke and dust get into there apartment whenever a body is cremated.

From now on, I will listen to my housemates' advice:- "close the lobby door (and other doors) when we are not at home". Now i know where the dust comes from :-S

Retrenchment in Citibank (Malaysia) Thus Have Worse Service

2009-02-02T18:07:00.005+08:00

Malaysia has a different proposition in the sense that all foreign banks have to be incorporated in Malaysia (not a direct subsidiary from its mother bank in oversea). However this doesn't shelther Citibank from its mother bank's losses from subprime crisis in US.

Citibank has been doing well infact better from other local banks in Malaysia. However from this crisis, its among the foreign banks which is experiencing retrenchment. I am one big fan of Citibank's credit card. However recently i realise that the customer service level has worsen by large.

There are some hickups in delivering the replacement credit card to me as there is matter of old address etc. However there is no effort to continue verifying this matter despite after my complaints. Finally i end up not having any credit card to use after the expiry of my Citibank credit card. Such case is the first time happening to me despite myself owning credit cards from all major banks in Malaysia.

Secondly, since the credit card is "reissued", my e-banking account is automatically terminated without any notification. This is because the new card has a new credit card number. I am again surprise how come no one notify me about this matter? I appreciate if the customer service officer will notify me when they called me to inform me that i'll be getting a card with different credit card number.

Finally, I sent an email enquire about their credit card promotion. By now it has been more than 20 days since they last reply to me that they are looking into this matter. Its dissapointing that they are not able to revert by now.

During bad market, there are such company that willing to forgo "less profitable customer" in order to maximise the profit margin with the current work force that they have. Perhaps i fall into such category? I'm wondering if Platinum card holder from this bank also face the same problem as me?

Differences Between You And Your Boss

2009-01-14T15:53:00.001+08:00

If you take a long time, you're slow.
BUT if your boss takes a long time, he's thorough.

If you don't do it, you're lazy.
BUT if your boss doesn't do it, he's too busy.

If you make a mistake, you're an idiot.
BUT if your boss makes a mistake, he's "only human".

If you're on a day off sick, you're "always" sick.
BUT if your boss is a day off sick, he must be very ill.

If you take a stand, you're being bull-headed.
BUT if your boss does it, he's being firm.

If you overlooked a rule of etiquette, you're being rude.
BUT if your boss skips a few rules, he's being original.

If you please your boss, you're a boot-licker.
BUT if your boss pleases his boss, he's being cooperative.

If you do something without being told, you're overstepping your authority.
BUT if your boss does the same thing, that's initiative.

If you're out of the office, you're wandering around.
BUT if your boss is out of the office, he's away for important meetings.

If you ask to leave early, you must be going for an interview.
BUT if your boss takes the afternoon off, it's because he's overworked.

Subprime Mortgage Explained In Simple Term

2009-01-09T13:48:00.001+08:00

One day, a plain-looking man came with a pretty-looking OL (Office Lady) to the LV store in Causeway Bay (Hong Kong Island). He chose an LV bag worth HKD 65,000 for the OL. When it came time to pay, the man took out a checkbook and wrote out a check. The salesperson was hesitant because the couple hadn't shopped there before.

The man discerned what the salesperson was thinking and he said calmly: "I sense that you are concerned that this check may bounce, right? Today is Saturday and the banks are closed. Let me suggest that I leave the check and the handbag here. When the check clears on Monday, you can deliver the handbag to this lady. How about that? The salesperson was reassured and gladly accepted the suggestion. In addition, he waived the delivery charges. He promised that he would personally make sure that this gets done.

On Monday, the salesperson took the check to the bank. The check bounced! The irate salesperson called up the client, who told him: "What is the big deal? Neither you nor I have suffered any loss. Last Saturday night, I went to bed with that girl already! Oh, by the way, I thank you for your cooperation."

This story reveals the nature of the sub-prime mortgage crisis. When people have high hopes for huge future returns, they lower their guard about the potential risks. This pretty girl thought that the HKD 65,000 LV bag was going to come home on Monday, and so she lowered her guard. Therefore, she believed that her investment in the ONS (=one night stand) was worth it even though it was based upon huge and highly uncertain risks.

Investment companies are great with packaging high return (but high risk) deals. The stock speculators are like this pretty woman. Without them, how are people going to make money from the stock market? As for the media and the stock analysts, they often play the role of the LV salesperson.

Days To Start Work In 2009

2009-01-09T11:44:00.002+08:00

I always get this thing every year before CNY. Well I won't say that I strongly believes it. However the "recommended" day to start works usually same with my expected day. Therefore "strengthen" the reasons why I need to take extra leave in order to start working on the "good" day.

Calvin and Hobbes

2009-01-08T16:59:00.002+08:00

Jalan Bukit Bintang On 2008/2009 New Year Celebration

2009-01-01T15:58:00.003+08:00

I just find this picture interesting. I pass by this place at least 3 times a week. I almost cant recognise it if not because of McDonald and Giordano. People are all over the street like ants. I have always wanted to try celebrating new year at Jalan Bukit Bintang, however all my friends whom has been there before, they will say " please don't go, you will regret ". According to them its too crowded as you won't be able to even get a place to stand still. After looking at below's picture, I really understand what they mean. Anyway.... i might still try it sometime... no regret! At least you have done it before!

CFA Class In Kuala Lumpur (Inti vs Kasturi)

2008-12-09T11:33:00.006+08:00

I always get questions comparing different places for CFA tuition class. Therefore I decided to put them in the internet for your review. I only compare between Kasturi and Inti (the 2 most popular institute) in Kuala Lumpur for their CFA course. The rest are not popular and never heard of the name with poor review on them.

I prefer Kasturi because CFA level 2 class starts in November while Inti starts in January which left with only about 4 months time to study after minus all the holiday in Malaysia (usually early of the exam). I think their lecturers are more discipline and presentable. However the infrastructure at Kasturi is not as good as Inti. Kasturi do not have study area or coffee machine. However Kasturi's class are all within the same building as Inti always changes their class room and sometimes even to different building. In term of lecturer, only half of the Inti's lecturer are good. I have no comment on Kasturi's lecturer but recently it had gained more popularity (Katuri > 100 CFA students, Inti about 50 students). In term of pricing, Kasturi is cheaper (With IRC and registration, Kasturi (RM4200) while Inti (RM4800) . Transportation to Kasturi also more convenient and more eateries place nearby during break time. Hope you find my comment/review useful. Thanks.

Disclaimer: I do not get any incentive (cash, discount or any any other monetary and non monetary form) to promote any institute. All my review are all purely my personal comments. The information given is correct the at the point of writing ,however for accurate information please contact the respective institutes.

Click on below's table to view the comparison for CFA courses between Inti and Kasturi.

Christmas Card From Banker

2008-11-20T09:43:00.002+08:00

You'd better watch out

You'd better not cry

You'd better keep cash

I'm telling you why:

Recession is coming to town.

It's hitting you once,

It's hitting you twice

It doesn't care if you've been careful and wise

Recession is coming to town

It's worthless if you've got shares

It's worthless if you've got bonds

It's safe when you've got cash in hand

So keep cash for goodness sake, HEY

You'd better watch out

You'd better not cry

You'd better keep cash

I'm telling you why:

Recession is coming to town!

Finance products are confusing

Finance products are so vague

The banks make you bear the cost of risk

So keep out for goodness sake, OH

You'd better watch out

You'd better not cry

You'd better keep cash

I'm telling you why:

Recession is coming to town.

I'm Going To Krabi, However I'll Buy Thai Bath Later

2008-11-11T22:39:00.004+08:00

I'll be going to Krabi from 4-7 January 2009. Usually, the last thing before we go is looking at the exchange rate... Time to buy now... ;) However I had never used any research skill in this. The only "research" skill is to survey between few different currency exchange centre and try to nego the best price.

I was thinking... perhaps can use some "bloomberg" this time. FYI, I am not a currency expert. Thus what I am showing here is purely just based on what info I can get from bloomberg. Its a bit late when i realise that the exchange rate MYR/THB was highest in July 08. However its still good to check now instead, incase anyone cant make it for the trip etc.

Referring to the past trend, MYR depreciated quite a bit from its peak in July 08. Partially due to the new budget announcement in August 2008 which has increased the budget deficit. However looking from the average 1 month moving average standing at 9.799 comparing to the latest spot rate of 9.743. In another word, MYR has depreciated more than the previous month.

You might say, hey it might fall further. Lets quickly buy Thai Bath now....... well yes and no... I am not god. So i don't know. But we can look at experts' forecast here at below's chart.

According to the bloomberg forecast, Thai Bath is expected to reach 10 (current spot 9.743) in the first quarter of 2009. Thus from research point of view. I would think that MYR will strengthen against Thai Bath early of next year. Therefore i will only start to buy when the exchange rate is reaching 10 ( at least 9.799).

Bad Christian Name For Chinese

2008-11-04T13:54:00.000+08:00

Anne Chang => Dirty (Mandarin)
Anne Chin => Keep Quiet (Mandarin)
Faye Chen => Dusty (Mandarin)
Carl Cheng => Buttock (Hokkien)
Monica Cheng => Touching your buttocks (Hokkien)
Lucy Leow => You are dead (Hokkien)
Jane Tan => Frying eggs (Mandarin)
Suzie Leow => Lose till death (Hokkien)
Henry Mah => Hate your mum (Mandarin)
Corrine Tai => Poor fellow (Hokkien)
Paul Chan => Bankrupt (Mandarin)
Nelson Tan => Bird laying eggs (Mandarin)
Leslie Tong => Rubbish Bin (Mandarin)
Carmen Teng => Leg hair long (Hokkien)
Connie Mah => Call your mother (Cantonese)
Danny See => Squeeze you to death (Hokkien)
Rosie Teng => Screws and nails (Hokkien)
Pete Tsai => Nose droppings (Hokkien)
Macy Koh => Never die before (Cantonese)

100 Quotes Of The Day

2008-10-30T03:13:00.002+08:00

When I was working in Alliance Investment Bank, I remember an ex-colleague of mine, sent me below. Some are pretty nice and I still keep it till today. Hope to share with you all.

1. I'm not getting paid much for staying alive but it's good experience.
2. I think I’ll just sit here and wait till life gets easier.
3. I'm writing to tell you I have nothing to say.
4. I happened to see you passing through my life, so I thought I’d love you.
5. Are we still friends? Or don't you know either?
6. Consider yourself thanked.
7. If you can't keep in sight, at least keep in touch.
8. Regardless of the date, I’m glad you were born.
9. I'm just moving clouds today - tomorrow I’ll try mountains.
10. If you're looking for a friend, I’d like to apply.
11. Please don't ask me what the score is - I’m not even sure what game we're playing.
12. When all else fails, eat!
13. My life has a superb cast, but I can't figure out the plot.
14. I may not be easy to reach, but I may be worth it.
15. Your illness license has expired: report back to health immediately.
16. A large percentage of me likes a large percentage of you.
17. I don't need a great deal of love, but I do need a steady supply.
18. Appreciate me now and avoid the rush.
19. Reports of my being alive and well have been grossly exaggerated.
20. It would be nice to see you again - and again.
21. Anything is good if it's made of chocolate.
22. Isn't it a nice coincidence that you and I are both alive at the same time!
23. All I want is a little more than I’ll ever get.
24. There's a hungry mailbox down the street - please feed it something for me.
25. Why don't you write, and give me a chance not to reply?
26. Single-handedly, I have fought my way into this hopeless mess.
27. To whom it may concern: you are a very special person.
28. I don't wish to appear overly inquisitive, but are you still alive?
29. I'm looking for the perfect pillow - I think it's somewhere near yours.
30. I'm sorry for not communicating, but sometimes it's very hard to write on a moving planet.
31. I may not be totally perfect, but parts of me are excellent.
32. "Please reconsider - it's so hard to take ""go to hell"" for an answer."
33. Any day is a good day to have a mother.
34. I waited and waited, and when no message came, I knew it must be from you.
35. I feel much better, now that I’ve given up hope.
36. I, for one, am longing to feel your hot breath on my neck.
37. To be sure of hitting the target, shoot first, and, whatever you hit, call it the target.
38. Please don't tell me to relax - it's only my tension that's holding me together.
39. I always know the right thing to say, after the right time to say it has passed.
40. Somehow, in my busy life, I am finding time to miss you.
41. Help improve my appearance - I’m much better-looking when I’ve been hugged.
42. I don't have any solution, but I certainly admire the problem.
43. If God had approved of the metric system, he'd have given us ten fingers.
44. We must have courage, faith, and lunch together sometime soon.
45. I have abandoned my search for truth, and am now looking for a good fantasy.
46. Living on earth may be expensive, but it includes an annual free trip around the sun.
47. Your smile is one of the great sights of the world.
48. Life is an intolerable burden, which every living thing somehow manages to tolerate.
49. Words ought not to be trusted - you can never be sure if they mean what they say
50. Please remain calm - it's no use both of us being hysterical at the same time.
51. I want it clearly understood that I’m totally confused.
52. My sources are unreliable, but their information is fascinating
53. No man is an island, but some of us are long peninsulas.
54. In order to discover who you are, first learn who everybody else is - and you're what's left.
55. You are there, and I am here, so one of us is obviously in the wrong place.
56. What I like most about myself is that I’m so understanding when I do something wrong.
57. By doing just a little every day, I can gradually let the task completely overwhelm me.
58. Communication with the dead is only a little more difficult than communication with some of the living.
59. Our meetings are held to discuss many problems which would never arise if we held fewer meetings.
60. Things are gradually falling into place - on top of me.
61. My life is a performance for which I was never given any chance to rehearse.
62. We've been through so much together, and most of it was your fault.
63. Inside every older person there's a younger person wondering what happened.
64. Anybody who thinks I am strange ought to meet you.
65. Sometimes the best way to be useful is to get out of somebody's way.
66. Life is the only game in which the object of the game is to learn the rules.
67. Look what I’ve found! ... A moment to write to you.
68. I try to take one day at a time, but sometimes several days attack me at once.
69. Words are a wonderful form of communication, but they will never replace kisses and punches.
70. There's only one thing more beautiful than a beautiful dream, and that's a beautiful reality.
71. If you can't say exactly how much you love me, try to make a rough estimate.
72. Please ask your machine to get in touch with my machine.
73. My life is already complicated enough, without trying to introduce organization into it.
74. To be sure of winning, invent your own game, and never tell any other player the rules.
75. I too have known joy and sadness, and, on the whole, I prefer joy.
76. Most of my problems either have no answer, or else the answer is worse than the problem.
77. Slavery and torture were outlawed long ago, but, for some reason, marriage is still legal.
78. We couldn't have met in any previous life, because you are one experience I’d surely never forget.
79. If you postpone a pleasure long enough, it may melt, spoil, die, evaporate, or move away.
80. Let's make it definite: I’ll see you when I see you.
81. All I want is a warm bed and a kind word, and unlimited power.
82. Watch out! It's quite possible that some of my best mistakes haven't yet been made.
83. My thoughts are free to go anywhere, but it's surprising how often they head in your direction.
84. My struggle to remain healthy is gradually killing me.
85. One thing travel teaches is why living at home is so popular.
86. Keep smiling! (but not so much that people begin to wonder if you are mentally unbalanced).
87. Children who are born into happy families grow up speaking love as their native language.
88. It's true I’m getting older, but there are still many good hugs left in me.
89. A good friend is worth pursuing - but why would a good friend be running away?
90. Ready - aim - spend!
91. Never fall in love with anybody you can't afford to lose.
92. Sometimes I make a mental note, but then forget where I put it.
93. No matter how many times I do my work, it never stays done for long.
94. Never resist a mad impulse to do something nice for me.
95. Think of me as someone who is very often thinking of you.
96. It's hopeless! Tomorrow there'll be even more books I should have read than there are today.
The longest distance in the world is always the one between you and me.
97. Just because I’m happy doesn't mean you couldn't make me happier.
98. Correct me if I’m wrong, at your own risk.
99. Doing it wrong fast is at least better than doing it wrong slowly.
100. I have you, you have me: at least one of us is lucky.

Mission Impossible - NEP

2008-10-29T16:36:00.002+08:00

He said there were still many objectives in the NEP which must be achieved before the 30% equity rule could be dropped.

I have total disagreement with what Dr M said. So what is the strategic plan to achieve what you want for NEP? Since 1957 till now, nothing much has changed. People don't change overnight, without motivation (pressure). There will not be changed. Come on be logic, if you are in comfort zone, why bother to change?

“If you lower the 30% to 20%, non-bumiputras will have 40% equity. In that case, they should have a lower equity too,” he said.

However, Dr Mahathir said that in protecting the rights of bumiputras, economic policies must also consider the rights of non-bumiputras.

Isn't this empty talk? Protect bumiputras but also consider rights of non-bumiputras. Dr M, I think there is a conflict of interest in what you said. I only see you protecting one side.

We have to look at both sides. Be rational about it. At the moment, I don’t agree we should change the (equity rule). It’s not the right time for adjustment because the world economy is in turmoil,” he said.

No I don't look at both sides. Btw since you were Finance Minister before, please explain to me why we cant change the equity rule during economy in turmoil? There is no relationship at all. Infact we should change it to ecourage better competition to do better, increase efficiency and attract foreign investors into our market.

New Terms For The 2008 Market

2008-10-29T12:25:00.000+08:00

CEO --Chief Embezzlement Officer.

CFO-- Corporate Fraud Officer.

BULL MARKET -- A random market movement causing an investor to mistake himself for a financial genius.

BEAR MARKET -- A 6 to 18 month period when the kids get no allowance, the wife gets no jewelry.

VALUE INVESTING -- The art of buying low and selling lower.

P/E RATIO -- The percentage of investors wetting their pants as the market keeps crashing.

BROKER -- What my broker has made me.

STANDARD & POOR -- Your life in a nutshell.

STOCK ANALYST -- Idiot who just downgraded your stock.

STOCK SPLIT -- When your ex-wife and her lawyer split your assets equally between themselves.

FINANCIAL PLANNER -- A guy whose phone has been disconnected.

MARKET CORRECTION -- The day after you buy stocks.

CASH FLOW -- The movement your money makes as it disappears down the toilet.

YAHOO -- What you yell after selling it to some poor sucker for $240 per share.

WINDOWS -- What you jump out of when you're the sucker who bought Yahoo @ $240 per share.

INSTITUTIONAL INVESTOR -- Past year investor who's now locked up in a nuthouse.

PROFIT -- An archaic word no longer in use.

Look Out Point At Hulu Langat

2008-10-26T21:51:00.002+08:00

I have always heard about this place at Hulu Langat which has a fantastic Kuala Lumpur view. Some said its at Ampang while others said its at Cheras. For me it seems more like nearer to Cheras, maybe because I exit from the Cheras (Pandan Indah) of MRR2.

Its not that difficult to go:-

1) Direct from MRR2 (if you come from Ampang, go towards the Cheras direction) and exit at the Pandan Indah Interchange Junction. Please take note its "after" the Pandan Indah flyover junction.

2) After turn left from MRR2, go all the way straight and pass by Steven Corner too. Along the way you will see the first Esso on your left. Before you reach Esso the road is a bit up hill and you have to turn right "immediately" at the Esso traffic light junction. We missed this junction at the first attempt. To be save you can keep to the right or U-turn if you missed the junction.

3) Go straight you will pass by a Mc Donald on your right. Go all the way straight and take note on your left there is a Putri Park Plaza. Turn left immediately after Putri Park Plaza. If you really miss this turning, you will see Petronas on your right.

4) After the Putri Park Plaza turning, go straight until the second traffic light and turn right at here.

5) Go all the way straight you will see the "Menara Tinjau (Look Out Point)" sign board. You need to drive about 3 km on a dark and winding road before you read the look out point. Although this road is dark, you will see many other cars along it. So you can rest assure that its pretty safe.

6) The Look Out Point is just on your right. You can decide to park road side (free) and wait up. I haven't try this before but I believe its a decent 15minutes walk to the restaurant. However if you going there for a date, perhaps you shall drive up there by paying RM2 for the parking.

REFER TO BELOW'S MAP FOR CLEARER PICTURE OF HOW TO GO HULU LANGAT

There are 3 restaurants there:

1) Look Out Point Restaurant

2) Gasoline

3) Bread And Olive Restaurant

I only manage to try Look Out Point Restaurant. Despite going on holiday season (which I will easily think most people are in home town instead of KL), its quite packed. I think the seats are abit too close to each other. However I guess everyone is just trying to get the best of view. Of course we got one of the best seats - the corner sits which has the best KL view. This restaurant opens in late morning until 1am (or 2am of many customers). To my suprise, the foods are quite reasonable. Chicken or lamp chop around RM13-RM20 only. Considering this type of environment, I would think the price is infact very affordable. For me, I ordered a giant size water melon juice. By the way the sizzing chicken chop that I ordered is quite nice too and infact most popular. This restaurant has the best view of all.

Under Look Out Point Restaurant is Gasoline. Gasoline is a franchise restaurant with other branches at Sungai Wang, Times Square and Sunway Plaza. They serve variesties of food ranging from Western, Chinese and Malay food. The food should be slightly cheaper than Look Out Point Restaurant. However the view is not as good. To be frank, I think gasoline tastes so so only.

Finally is Bread And Olive Restaurant. This restaurant is quite empty. View is also not as good that's why there are not many people there. From the setup I think the price will be slightly expensive.

I seriously recommend everyone to go this place. From view, weather and food, they are all fantastic.

Standard Chartered Bank Has No Standard (Part 2)

2008-10-14T23:48:00.008+08:00

Today between 11am to 1130am, I got a very interesting call from Standard Chartered Bank. Few months back I had applied a KLIBOR mortgage product from Standard Chartered Bank and very dissatisfied with their service and product. Thus I wrote an article about my dissatisfaction. Today their manager (I can't remember from what department) called me and below are partial of our conservation which I find it very unpleasent:-

In order to protect the name of the manager, I used Ms T as the manager's name.

Ms T: You are not satisfied with our rate, service or time taken to process your application?
Me: I’m not satisfied with everything that you have mentioned.

My thoughts:-
If she really keen and sincere to solve this problem, she won’t ask this question at the first place. The issue that I dissatisfied is stated clearly in my previous post. This shows that she has no courtesy to understand my problem before calling me. Perhaps she might call me with anger and frustration.

Me: I think your bank takes too long to process my application. I can’t remember correct its either 3 months or 1 month to process it, whatever is that it is still very long to process….. (Without waiting for me to finish my sentence)
Ms T: Please be careful with what you write (or say), your application only took 1 month to process. Not 3 months.

My thoughts:-
Her intonation is like trying to threaten me. Stressing that the application “only” took 1 month doesn’t highlight the service efficiency.

Ms T: Didn’t the agent tell you that the mortgage rate (for the KLIBOR product) might not be KLIBOR + 1% ?
Me: Nope, the agent agree in principle that the rate will be KLIBOR + 1%
Ms T: ~!#$%^&*()_+ our bank structure is bla bla bla…. this agent is not our bank staff, they have given you wrong information.

My thoughts:-
How can a bank authorize agents to sell for them and trying to position that they are not responsible for the misleading information given?

Ms T: Can you remove the article from your website?
Me: No, but I might update what happened today (I’m referring to this conversation)
Ms T: Then please update in your website (that we called)

My thoughts:-
She did apologise a bit here and these however the whole conversation is basically with the motive to convince me that they are not all wrong and only want me to remove the article. Also indirectly pressure me to write something good about them

If she calls again, I will forward my complain to other departments in SCB that she’s trying to harass me.

How To Handle Tension

2008-09-17T09:43:00.003+08:00

The Moment you are in Tension

You will lose your Attention

Then you are in total Confusion

And you will feel Irritation

Then you will spoil personal Relation

Ultimately, you won't get Co - Operation

Then you will make things Complication

Then your blood pressure may raise Caution

And you may have to take Medication

Instead, understand the Situation

And try to think about the Solution

Many problems will be solved by Discussion

This will work out better in your Profession

Don't think it's my free Suggestion

It's only for your Prevention I

f you understand my Intention

You will never come again to Tension

How Can KFC Suprise You?

2008-09-12T09:53:00.002+08:00

KFC is very very common now these days. I remember when I was much younger, we only go KFC for birthday party. Its a luxury to go KFC (for someone from a moderate family like me). I remember when we wants to go KFC, we will wear our nice clothes, gel hair and jumping up and down when going there. Then quickly wash hands while waiting for my parents to bring over the hot fried chicken. Those were the days.

Now at many times, KFC is a cheap food which is RM7.55++ per snack meal. In Kuala Lumpur's golden triangle, a nasi lemak or keow teow goreng can be RM15 to RM20. Infact fast food like KFC or McDonald could be our last choice for lunch.

As KFC is so so common now, how would a KFC surpise you now these days? Last night I went into above KFC. Its at Bandar Baru Sentul. Quite a good location near to Pizza Hut, 7Eleven and CIMB Bank. Nothing special..... just another KFC

I was just reading the word.... mmmm community care restaurant... Maybe the staff here are very caring I guess. But come to think again, when I look at the hand sign here..... mmmm ok.. it means "love".

Then I went it.. Woww.... why this restaurant so quiet? Then the waitress attending to me... refuse to talk to me. Have I done anything wrong! I ordered and she refuse to listen. Keep on pointing at the menu... again and again... I was pissed off! Take a step back... mmmm OOOooo arrr.. everyone is communicating by hand sign language. Oooo ok... I felt a bit sorry... So I just point at the set that I want to buy. All communicating by sign languge.

Immediately after come out from the restaurant, I try to find some hint about this restaurant. Its actually the first KFC in the world that is run by speech and hearing impaired. Oohhh ok.

MMmmmm i'll hold back my comments from the business point of view. While on community service, well its a good move. All the best to people running this shop. :)

Its Good Commuting (Take LRT)

2008-09-11T18:43:00.002+08:00

Since I moved to Bandar Baru Sentul, commuting is my main way of travelling. Its so so convenient to take LRT from there because its the first station for Star LRT (Sentul Timur Station). I used to take Putra LRT before and now I can see the different because Star and Putra LRT. Star LRT has 5 or 6 decks (can't recall) but Putra LRT only has about 4 decks. More over the number of trains on the Star Tracks are more more often. On my way from Sentul Timur station to Titiwangsa Station with is just 2 stations away, I saw another 2 stations coming from the opposite direction and it always happen.

From Titiwangsa station, I walk to the Monorail Titiwangsa station which is just about 2 minutes cover and linked walking distance. Again Titiwangsa is the first station for monorail. I will take from Titiwangsa to Raja Chulan station to reach my office.

Since both Sentul Timur and Titiwangsa are the first stations for both train lines. Almost everytime I will get a seat unless if some train broke down which causes more people squeeze into one train.

I saved a lot of time in traveling and no jam ! no jam ! no jam! :) I like to go green and also it saved a lot of $_$ to take LRT. I used to spend about RM500 a month for petrol and office car park if I drive to work. Since now I take LRT, its merely about RM100 to spend on transportation to work.

Why Nova Wants To Stay At Sentul?

2008-09-07T20:53:00.002+08:00

I have moved 6 times since graduate from my university, Northern University Of Malaysia (UUM) . The sequence is; UUM--->Ipoh--->Singapore--->Cheras--->PJ--->Genting Kelang---->Sentul (Now). Yes moving is not easy at all and you can say that again.

Why my place is so nice? I am staying at Melur Apartment. Its directly opposite Sentul Timur LRT station. That is half minute walking distance. Its very easy to board train from this station because its the first/last station. Then its connected to Titiwangsa monorail station. Walking from Star to Monorial Titiwangsa is about 1 to 2 minutes and its a covered link. Again, Titiwangsa is the first/last monorail station. From there I can easily take train to my office which is near Raja Chulan Station.

My apartment has 3 rooms. I am taking the master bedroom. Our unit is facing KLCC, KL Tower and Eye Of Malaysia. Its veryyyyyyyyyyy nice. Its on 24th floor thus its great to have the feeling of everything under your feet. While writing this blog I am actually looking at KLCC. Our balcony, master bedroom and middle room has view facing all those Malaysia's landmark.

I am using Izzy wireless broadband. Apparently the speed at here is above satisfaction. And its damn cheap. I am only paying RM66 per month without any phone line. It saved me the hassle to apply for streamyx line or request change line when i move. Izzy can be setup in less than 5 minutes time.

The residence demographic here are generally Malay and with some Indian and foreigners. Anyway I am not a racist guy. Infact I think the Malay here are more educated and friendly. They talk to us when we first move in and some even help us to move our stuff. That gave me a very good experience about this place.

Standard Chartered Bank Has No Standard

2008-08-25T06:15:00.003+08:00

For the past few month, I have been trying to apply for few mortgage products. All banks will be able to give me their quotation or offer letter in about 2 weeks time while some are just in the matters of 3 to 4 days. The worst application was to Standard Chartered Bank. I waited and waited and waited for more than 1 month and they gave me the quotation for the wrong product. Then claim that they do not have enough information and keep calling me and my property agents for few times a time. I was so pissed off and say, please don't process my application and they call and beg and beg me. Eventually the offer that I got, I was loaded on the offering rate.

Look at the advertisement! KLIBOR + 1% my ass! Even the agent agree and promise in principle that the rate is KLIBOR + 1%... and after all those hassle and delays... they offer me KLIBOR + 1.6%. Immediately without hesitate I say NO to the offer.

Few days after that their mortgage samseng call me. Complaning that after all the "hassle" (this is the exact word used by the officer) I don't want to take the product. I told her that the hassle was given to me! not to you! I waited for so long and your offer is sooo soo sooo late and the rate sucks.

Everyone, please don't waste your time to apply this product. Say NO to them. Thanks.

Domino Pizza Delivery Is Super Chio!

2008-06-07T11:45:00.005+08:00

Today is the day before exam.... its all doomy and gloomy day. My housemates are all out leaving me alone at home... and my stomach was roaring! I remember reading some good comments about domino pizza delivery .. thus I just give it a try...

I have never done pure online ordering... I don't even need a phone to do this ordering... just internet... The website is quite interactive... but a bit kiddo type... anyway generally i still give 5 stars scoring for their website.

After I placed my order, its written there... business starts at 11am and first delivery to arrive at 1130am.... but wait! my time is only 1050am.....shit! wondering if there anyone processing my order... anyway i just patiently wait....

wait...wait...wait.... until almost forgotten and "beep beep" my time is 1130am liao. Where the $%^& is my pizza! When i pick up my handphone and want to call them , suddenly "PIZZA ORDER!"...."PIZZA ORDER!"...."PIZZA ORDER!".... I was stunt, i looked at the time again exactly 1130am... i thought i'm too hungry and dreaming that the pizza boy is here.... after 3rd time calling, i ran out and really see the pizza boy there... with the big smile on my face, i said "hey you are VERY punctual!". He just smiled back.

Things that suppose to be hot are still hot and things that suppose to be cold are still cold! Damn.... while eating and writing this.... i really again impressed with them...

Hey NOVA, you have nothing else to write? Why write about pizza in your banking hall blog? Ok ok ok.... there are some financial thing that we can talk about them....

First of all Domino pizza is FREE DELIVERY! No hidden cost etc... Not like others with minimum order or RM3 etc for delivery. Look! Petrol price is up... driving there and come back would have cost me a few buck for the sky rocketing petrol... also save a lot of hassle for car park, getting a table and travelling time...

Secondly, now only i realise! Their menu price is net of all *&^%$#$ charges. I ordered the value meal 2 which is RM34.80... no more no less... I really hate it when PIZZA HUT charges those 10% service fees and 5% government fees. To be frank, i think PIZZA HUT's service sucks to the max. There is NO service at all... why charge service fees? Salad and soup have to take myself. Ask for fork/spoon their face turn black... damn.. For me, the service charge of 10% is a daylight robbing. Domino pizza is very clear about their pricing policy... just the net price shown, no hidden charge.

Congratulation to Domino pizza, i'll definately order again!!!! Yummy!!!!

Email to Perak Mentri Besar Datuk Seri Mohammad Nizar Jamaluddin

2008-06-04T13:39:00.001+08:00

Datuk,

On the election day i traveled all the way from KL to Ipoh just to vote for Parti Pakatan. I never even bother to claim the "travel allowance" given by MCA despite MCA office is just a stone throw away from my office. What we want is a change in the government.

I don't know what to ask about what you have done because I haven't seen anything done as yet. Everyday every politicians are just busy blaming and condemning each other. There is none constructive development project announced but a lot of announcement of what projects to be scraped or postponed. The rest of the time they are busy arguing how many seats they get in the dewan etc. Stop worrying and start living!

I hope pakatan rakyat can issue a KPI (key performance index) for the party as a whole to show what they wish to do and how much they have done. This KPI has to be announced and updated to everyone at least half yearly basis.

I have been staying in Ipoh for more than 20 years before I further my studies in Kedah and now working in KL. What i see is extremely little development in the town. Good job opportunity are relatively less and the younger generations are migrating out of the town to metropolitans. There should be more incentive for corporates to setup their business or operating plan at Ipoh. Example are duty free are or operation hub. KL is the government and business hub. Penang is a technology hub. Ever consider Ipoh as a education hub? Provide incentives for colleges and university to setup their HQ in Ipoh and imagine how great is the impact to Perak when all the brains come from Ipoh. Ipoh shall have the natural advantage to be the higher education hub considering its location in the centre of peninsular Malaysia where students from all over Peninsular Malaysia can easily travel to further their studies in Ipoh.

Thank you and good luck to you. I hope I'll be able to see you again in the next election.

Best Regards,
Nova Lui
Website: www.novabankinghall.com

http://thestar.com.my/news/story.asp?file=/2008/6/4/nation/20080604100224&sec=nation

Someone Failed Maths? - Citibank Beijing 2008 Olympic Games

2008-05-04T09:38:00.005+08:00

Hi anyone participate in the above contest? Well I did! Anyway I am not the lucky one that ever win any prize in lucky draw or such competition.... but my main objective is to get the double cash rebate for participating! If you are using Citibank Shell card, your petrol rebate will be double of the normal rebate. For me, I'm using classic Shell card which my rebate during the promotion is 3% instead of the normal 1.5%..... I think its a decent deal. Imagine for every RM100 of petrol that you use, you get additional RM1.50 rebate. On top of that any other purchases you will also enjoy double rebate! Till end of May! AND, all transaction ( RM8 and above in a single receipt ) will be automatic entitled for the contest to go watch Olympic in Beijing!

'

'
So what the story this time? Read the fine lines:-

“Points/Double Rebate shall be awarded to the Participants within 6 to 8 weeks from the end of each month throughout the Promotion Period”

Well...well..... I wouldn't say that its a catch since its spelled out clearly in the term and condition.... just that I think its a bit slow to take 6 to 8 weeks time to do the maths.... what happened? someone failed maths?

Cheap sale cheap sale! $5 for 1, buy 3 is only $15.99 !!!! ???

2008-05-03T11:50:00.005+08:00

Sometimes I'm really confused with the pricing strategy by some retailers.... often i found products on sale in hypermarket which is actually more expensive if you buy the "promotion pack" which is infact the bigger pack. Example I found this promotion stuff selling at $15.99 for a pack of 3 ... while the non promotion single pack is only $5 !! ??? Someone failed maths?

Lets so some testing, below is a promotion of balance transfer by public bank. Assuming upfront fees is only main concern. We have NO concern about time, cash flow and minimum transfer amount. Based on below's package, which one would you choose?

If you need more informatin to make decision... visit :-

http://www.publicbank.com.my/en/en_content/images/bt7_form.pdf

http://www.publicbank.com.my/en/en_content/images/tc_bt7.pdf

I'll discuss with you the answer in the next few days.... prepare with your answer and calculation. ;)

Jui Jing ( what you want is not all i can give, what i can give is not what you need )

2008-04-04T09:44:00.005+08:00

Hi all concern friends. Thank you for your serious concern about where i am going after this. I had resigned from Alliance Investment Bank in mid March 2008. The reason is because as the title; what you want is not all i can give, what i can give is not what you need. :) its a song call Jui Jing by Lee Shen Jea. Its always a risk when changing job, you never know how your boss behave and hows the working environment over there. I had left without any offer and had decided to go unemployed and focus in my CFA studies.

Actually months ago, as all TA's friend know i had been given an offer to go back to TA. Its a management associate programme which i suppose to be route into various parts of TA department for training purpose. I am very keen on research, corporate finance, futures and securities. But again, finally i sang the same song "what you want is not all i can give, what i can give is not what you need". Thus i had turned down the TA's offer. There are a lot of rumours about me coming back and even confirmed the offer etc. FYI i have picked up the offer letter but never signed it because i had never been able to make up my mind.

I am back into my mood to be unemployed for the next 3 months. The feeling is very nice... freedom... no need to worry about anything until one fine day........ THEN!!! suddenly i got an offer from a Singapore company. It has just set up its operation in KL 2 years ago. This company is call iFAST. Its the owner for www.fundsupermart.com.sg and .hk . Its the leading fund trading website in Singapore. At the same time, there is another offer from my mentor (i am very thankful to him if he read this post. But here i hope to keep it secret... so no need to ask me) to join his new company. But eventually i took up iFAST's offer. It has been my dream to be an analyst. I'm offered a job to be a fund analyst in iFAST Kuala Lumpur. I need to take SC's exam in order to be authorized to publish my writings about investments. I'll be reporting for work at iFAST on next week and will be going to Singapore for about 1 month training.

I apologize for keeping your all waiting about my news. In order to know more about my next thing in future. Please visit my new website www.novabankinghall.com/en. I hope to share more financial thoughts with you in future. My hp number and email still the same. Adios gals and guys... take care.

Caught in the act eating stinky bean curb in Taiwan Shin Lin Market :P

We Had Moved To www.novabankinghall.com/en

2008-03-31T17:20:00.003+08:00

Thank you for your continuing support our blog, novabankinghall.blogspot.com. In order to continue sharing and discussing financial products, we had decided to moved to a new website : www.novabankinghall.com/en . There will be function for forum, download and in future will have more database research, polling, or even product review submitted by our readers. Thus in future please refer your friend to our new website instead of this blogspot. Thank you very much.

My latest article is "Secret To Customize Your Own Capital Protected Portfolio", please view it at www.novabankinghall.com/en. Thank you again.

When Can You Accumulate Your First Million?

2008-03-13T10:34:00.010+08:00

I am glad that more and more of my friends are getting more financial savvy now. Last week I met a friend whom told me he wants to have a huge amount of money (eg RM500K) and retire for good. Some times we just want a simple life. Imagine if you have RM500K and invest into a very safe investment which gives you 10% return per annum, only from your return from investment you will have about RM4K to spend every month. By that time, working is just a hobby. :) Therefore I am writing this article to show how can you make it. But this time lets make it tougher, we target to make RM1million.

Are you ready for the discussion? Let see how shall we starts... There are many assumption and status-quo factors which MUST be included. I'll explain bit by bit

Annual Income
I start with a average annual income of RM36k annually. This will include your basic, allowance and bonus for the whole year. Your salary increment will be as follows:-

First 5 years = 7% growth in your annual income
Next 5 years = 5% growth in your annual income
Next 5 years = 3% growth in your annual income
There after no increment ( just to be more conservative in my analysis )

Initial Investment
My research will starts with someone with a RM10K to start as his investment. This money is not necessary in cash form, it can be your assets in stock market or even your fixed deposit, unit trusts, investment link etc. But this money must be a liquid asset which can be reallocate according to the investment strategy as below.

Investment Strategy
We will put all the investment money into equity fund (50%) and bond fund (50%) with the assumption that equity fund will be able to garner 15%pa return in the long run while 7%pa for bond fund. Opss another very important assumption in this analysis is that you are not the Warren Buffer of Malaysia. Anyway as long as you can make an average return of at least 10% return pa in the long run shall still fits into this analysis.

FYI for the past 5 years, the average return for all the equity funds in Malaysia is 20%. But to be more conservative, I only use 15% as the expected return in this analysis. Anyway for bond fund shall be quite save to say 7% pa because most bond fund can make 5% to 8% return pa.

EPF Investment
I assume that your employer contribute 12% into your EPF account and yourself 11%, therefore total will be 23% of your income into your EPF account and expected return is 5.5% pa. Again, I assume that this money is purely for retirement purposely, thus we won't take out this money to other purpose such as purchase house/ further studies/ medical expenses.

Savings

I assume that you are able to save 30% of your annual income net after EPF deduction. But I didn't include the consideration for tax expenses. Its quite difficult to include tax expenses because everyone might have different tax rebates etc. Therefore pardon me that this analysis do not include tax expenses which can range from 3% to 28% of your total income taxable.

The savings each year will be included into your investment fund at the end of each year ( add into "beginning invst").

Total Asset
Therefore your total asset shall be the ending invst amount plus the EPF savings.

Conclusion

Based on all the assumption above, you will be able to accumulate your first million in the next 18 years. My friend whom asked me shall be 45 years old by then.... Opppsss... I hope he doesn't mind his age is disclosed. If you have 1 million, what would you do? :) Too early to dream? Not really, just properly plan your strategy now... based on my analysis, you will be a millionaire soon. Please remember me when you are a millionaire... I might need some funding from you :)

So if you have RM1million, if you just take out the return of 10% pa, you will be able to answer a annual income of around RM8k per month. Wahhhh happy? Well focus on how to build your wealth, not to think when is the next recession. Focus in recession will cause your wallet to go recession too. Have properly financial planning and understanding about the investment instruments.

P/S: Based on the same assumption above but just different target saving, your 1million will be on:-

10% saving, will be able to accumulate RM1 Million in the next 22 years
20% saving, will be able to accumulate RM1 Million in the next 20 years

30% saving, will be able to accumulate RM1 Million in the next 18 years

40% saving, will be able to accumulate RM1 Million in the next 16 years
50% saving, will be able to accumulate RM1 Million in the next 15 years

Finally if you are extremely keen on the calculation table, please email me. I'll send the table in excel format to you. So that you can play around using your own assumptions. Well you might want to start your initial investment with RM100k or your annual salary of RM50k, who knows?

What Is Hedge Fund?

2008-03-11T14:05:00.011+08:00

ahooWhat is hedge fund? Fund that can be used for hedging? No no no my dear. Basically hedge fund is very close to being a mutual fund (aka unit trust). The main different is that hedge fund is not regulated by the local investment regulatory authorities. In our case is the Securities Comissions (SC).

Investment Mandate

Since it's not regulated also means that hedge fund has more flexible investment mandate. For example a unit trust in Malaysia can't hold more than 15% of its portfolio on a single stock while hedge fund does not has this regulation. In another word, a hedge fund can invest all into just a few stocks. On an extreme example is less than 5 stocks.

Leveraging (Borrowing)

Hedge fund can borrow to invest. Don't be suprise to find hedge funds that borrow up to 1000% of its initial capital to invest. Alternatively hedge fund also can invest into derevative only which eventually leverage its position without owning the underlying asset.

Profit Sharing

Most hedge funds practice profit sharing as part of their management fees. For example a hedge fund can set a minimum benchmark of 5%. Any return of the fund above the threshold of 5% will be split at 80:20 (invester:manager) with the hedge fund manager.

Example:-

Benchmark (Threshold) = 5%

Fund performance = 30%

Profit sharing (investor:manager) = 80:20

Thus the performance bonus for the manager is 20% of 25% (30%-5%) which is 5%.

There are very important point to take note:-

1) there is no loss sharing with the manager

2) normally there is a minimum or fixed management fees (eg 1% per annum of the asset under management) despite the performance of the fund

Fund Manager Commitment

Due to the profit sharing feature, some fund manager might tend to take higher than normal risk because he will be awarded for the extra gain but won't be penalise for the lose. Therefore some company actualy enquire the manager themself to invest into their own fund (certain % of the fund's net asset value) so that the fund manager will be more cautious to manage its own money which is part of the fund itself.

Valuation and Liquidation

Most hedge fund do not practice daily valuation. They are either priced twice monthly, once monthly or even quarter yearly (rare case). This is due to the reason that some of the instruments that the fund invest into might not be liquid enough to be valued daily. Logically if there is not liquidity (no transaction) on the instrument, its difficult to get the most accurate price on the daily basis.

Liquidation (or redemption) on the fund is also done according to its valuation frequency, among the other reasons to do that is due to the ease in managing its cash flow. A fund which has a stable NAV (less unit creation or unit redemption) is easier to manage because you can plan when to realise your profit or gain.

Fund of Hedge Funds

This is a mutual fund which invest it's asset into many other hedge funds. Due to the nature of hedge funds which are unregulated, thus naturally imposed a higher risk to the investors. Therefore to reduce risk, a mutual fund is created to invest into a few other hedge funds and their performances are monitored by a mutual fund (regulated) manager. Not all countries allow Fund of Hedge Funds ( a type of FOF - Fund of Funds ).

Hedge Funds in Malaysia

Basically there is no pure hedge fund to date in Malaysia. Due to its high risk level and the complicated instruments used by hedge funds. Infact in Singapore, hedge fund is a niche product but globally hedge funds activities have grown substantially. But the feature of hedge fund can appear in many different form of mutual funds such as fund of fund, capital protected fund or structured products.

Risk Level of Hedge Funds

Hedge fund do not necessary means higher risk, but due to it's unregulated nature, investors tend to be more keen on the higher risk (focused portfolio and leveraging) hedge funds. As pre-mentioned, there are capital guaranteed hedge funds.

Bursa Malaysia Trading Halted

2008-03-10T15:21:00.005+08:00

Malaysian stocks fell the most in a decade after the ruling coalition's worst election result in fifty years put Prime Minister Abdullah AHmah Badawi's position in doubt and raised questions about his spending program.

Trading on the Kuala Lumpur stock exchange was halted for an hour after the Kuala Lumpur Composite Index tumbled by the 10 percent limit as opposition parties took control of almost half the states contested in March 8 elections. This is an automatic protection mechanism to protect the investors so that market might oversold or unreasonable selling due to panic in the market. Thus a down of 10% will automatic suspend the market and halt all trading activities. The market is close about 2:58pm Malaysia time. Till now Malaysia is the biggest drop market in Asia Pacific.

Most goverment linked company (GLC) stock prices are badly hit due the the uncertainties in their projects due to the change in the goverment especially the few main states such as Selangor, Penang and Perak. Foreign investors has been selling down the market since month ago and have been selling furiously today.

I Have The Cash, Should I Pay Off My PTPTN Immediately? Should I Even Take The Offer At The First Place?

2008-03-03T08:30:00.001+08:00

I had come across friends, whom refuse to accept the PTPTN loan or some whom actually borrow from their parents to settle off all the PTPTN loan as soon as after their graduation.

Some doesn't even pay which I had read in newspaper about some local self made millionaires in Malaysia whom hasn't pay off their PTPTN. Please do not do that.

Anyway a few simple issue that I wish to share with you are below:-

1) Why you should accept the PTPTN offer

PTPTN is consider the cheapest source of financing that you can get. Refer the table below. There is none financing products that offers you a loan at 4%. More over getting a PTPTN loan is only once (or max twice) in your life time. Not the same case with credit card which you can apply every now and then. The processing procedure is very easy, which will be solved in the university during the orientation week ( depending on university procedures ).

2)Why you should not use your parents' money to settle off the loan

Your parents' money are meant for retirement, thus one should be responsible for his/her loan. Settling off the loan in lump sum doesn't provide you the liquidity option. Imagine if you need the money for emergency case (eg medical expenses), you can't withdraw that amount of money back from PTPTN.

Imagine if you can borrow at 4% and invest at a guaranteed return of 5% (eg Merdeka Bond), you would have been able to make a riskless investment return of RM200. Lets do some mathematics, the net return is 1% (5%-4%) while investing RM20,000 (PTPTN loan amount) at the net return of 1% gives you RM200 return per annum.

As long as the expected return is higher than the borrowing cost, you will definately make profit along the years servicing your education loan. If the expected return is 8% (eg ASW 2020), you would have been able to make a riskless investment return of RM800. Lets do some mathematic again; investing RM20,000 (PTPTN loan amount) at the net return of 4% (8%-4%) gives you RM800 return per annum.

EPF Withdrawal For Unit Trust Investment

2008-02-21T18:40:00.006+08:00

Its a bit of conflict for myself to invest via my EPF monies. I guess EPF is doing a OK job for our investment money. I wouldn't say it's extremely well but at least every year we get more than 5% return pa. EPF had announced the dividend distribution of 5.8% for the investment of last y ear. Even 5% is already more than the return of fixed deposit standing at 3.7%. Don't forget your EPF monies are in one way or another capital guaranted.

Please don't use your EPF monies to invest into pure bond fund. Basically bond fund only gives you about 5%-8%pa and it's not guaranteed. There are bond funds that can lose up to 30% of it's investment. Don't forget about the sales charge too. Why take the risk to invest into a product that gives a non guaranted return of 8% when you can put it into a safe heaven that consistently give more than 5%?

Starting from year 2008, KWSP has cap the maximum sales charge of unit trust invested by EPF member at 3% only. Meaning investment by cash is charge about 5%-6% commission(sales charge) while by EPF is only charge at maximum 3% commission (sales charge). Then KWSP has gone the extra mile to reduce the minimum criteria for their members to be eligible to invest into unit trust. Don't forget also now we have more money into account 1 (70%) comparing to last time only 60% in account 1.

I guess KWSP is doing all they can to encourage their members to investment into unit trust funds. Wondering if you are eligible to use your EPF money for unit trust investment? Refer to below's table:-

Example: Assuming if you are 25 years old and assuming the minimum investment into unit trust is RM1000. Therefore you need to have at least RM20,000 in your EPF account (1 and 3) in order to qualify for withdrawing your EPF money for unit trust investment.

The calculation method is shown as below:-

P/S: I am so surpise so many people still doesn't know how much is the distribution of their EPF money in the different accounts. Below are copied from KWSP website.

Effective 1 January 2007, the Account is divided into two parts, namely Account I and Account II. Contributions received on your behalf from your employer will be credited into the two accounts according to the following percentages:

Account I - 70% of monthly contribution
Account II - 30% of monthly contribution

These accounts are created for different purposes, and different types of withdrawals are applicable on each accounts:

Account I Savings in this account is meant to be used for your retirement, and it cannot be fully withdrawn before you reach the age of 55, become incapacitated, leave the country or deceased (payment will be made out to your nominee / heir).

You are allowed to invest part of this savings to allow you to add the value of your savings.

Account II Savings in this Account is meant to help you to make early preparations for a comfortable retirement. Withdrawals are allowed for the purposes of:

Attaining the age of 50 years;
Owning a house - the downpayment for your first house;
Settling the balance of your housing loan - first house;
Financing education for you and that of your children's;
Medical expenses for you and that of your children's

The EPF will not consider application for withdrawal from any account for purposes other than those stated in the current law as cited in the EPF Act 1991; EPF Rules and Regulations 1991; and EPF Circular and Procedure.

Maybank Balance Transfer

2008-02-21T16:46:00.000+08:00

I am considering this product. I had done some review on it. Actually I had read it many times before, just thinking maybe I can share some knowledge here with you.

I personally prefer the 24months package simply because the monthly rate is the cheapest. But do you know how much is the effective annual rate? After compounding monthly, the effective annual rate is 4.59%

There are plentiful of safe investment instruments out there that can easily make more than 5%pa on your investment. Therefore why not leverage on 4.59% and get back the return of 5%pa.

Below are some of the term and conditions worth to take note:-

1) The cheque payment to the other banks will be effected within 10 business days from the date of approval of your balance transfer.

- If you don't wish to be charged interest on the source credit card (the card to be transfer out), therefore you have to do your timing properly so that Maybank will pay your existing card before the statement date. Don't be surpise to be charged late payment charges if Maybank only pay your source bank (eg bank X) after the due date!

2) The finance charges will be calculated from the date your account is debited for settlement of your credit card account with other issuers.

- This means that interest will be calculated immediately not until end of the statement date. This might make a 20 days different in interest saving days.

3) For 24 and 36 months plans: Upon approval of your Balance Transfer, NO new account will be allocated. The balance transferred will be in your existing Visa/MasterCard/American Express account.

- Incase you are not aware, some bank actually transfer your money to a new account number when you do a balance transfer. This is for the ease of maintenance. Because your account might be might with other purchases of the month which suppose to be charged higher interest compare to the money from balance transfer. Generally the bank will knock off the principle with the highest interest rate before paying for the lower.

4) RM30.00 processing fee will be charged for each Balance Transfer application approved.

- Most banks charges a minimum processing fees which ranges from RM20 to RM50. This fees is a serious consideration. Example if you transfer only RM1000 but charged RM50 for the processing fee, that comes to 5% of charges just in 1 transaction. That is extremely expensive. Therefore I will only transfer bigger amount to the bank with higher processing fees. If you have the balance transfer size of more than RM5000, the effective cost (interest rate and processing fee) is only about 5% pa stil. For me, 5% is consider relatively cheap :)

P/S: Remember use our card for convenience not for credit (unless in special case :)

Am I Taxable? When Should I Start Declaring My Income?

2008-02-20T09:51:00.005+08:00

Chinese New Year is always my best opportunities to catch up with my friends especially those from secondary school. Most of us have been in the labour force for 3 years while there are a few whom just graduated. Suddenly “Hi Nova I am just wondering, am I taxable? When should I declare tax?” …. Ooohhh suddenly it hit my mind that this question has been asked many times before. So I decided to include my answer in this blog.

Generally, anyone whom is already working suppose to start declaring your income to Inland Revenue Board (IRB). BUT!!! Its not the first time that I had heard so many complaints from my friend (whom have salary of less than RM2500 per month) that are not “allowed” by the IRB officer to open an account with IRB. Most companies will open a tax account for you with IRB but there are some smaller companies which don’t do that for you.

Basically for those whom already has a tax account, it’s advisable for you to declare you income every year. But for those without, try to open one even if your income is below RM2500 (although sad to say that you might be asked to go home by the IRB officer). Don’t forget althought your basic might be below RM2500, but your annual income might be still more than RM30,000 (RM2,500X12months) due to bonus, allowance, over time claim and other income.

There is a very big chance that you are actually over charged for tax paid during the months which you get higher pay cheque (example during the months that you receive your annual bonus or quarter yearly sales commission). After you declared your income tax and realize that you are actually not taxable or IRB has actually over charged you, IRB will return the excess to you by sending the cheque to your home (It really works because I received it before last year).

I hope this write up comes in just in the write time during this time that most already receive their B form from IRB J. All the best in your tax planning.

Question and Answer

1) Dear Nova, the RM2,500 chargeable income in the schedule above refers to the monthly salary or total annual income? eg if my annual income is RM30,000, for the first RM2500 im not charged..followed by the next 2500 i'm charged at 3%?

First of all you have to differentiate between your annual income and your income taxable.

Income Taxable = Annual Income - Tax Deduction

Example of tax deductions are EPF/insurance, computer, medical expenses, gift to charity and investment in SSPN

Therefore if your annual income is RM30,000 and assume your total tax deduction is RM27,000 therefore your taxable income is RM3,000. Therefore based on the schedule above, the tax payable is (RM2500X0%) + (RM500X1%) which is RM5.

Anyway this is just an illustration. There are still many tax exemption when you fill in the BE form. Therefore if your annual income is RM30,000, most probably you are not taxable. But incase you are taxed some where when you actually have higher income in a particular month due to bonus/special allowance, therefore IRB will have to return the money (which are deducted on that particular month for tax) to you.

Do A Balance Transfer At Cheaper Rate And Free Handphone Worth RM849!

2008-02-18T16:12:00.008+08:00

Hi all, you have to be very careful when you do balance transfer. I was earlier kinda keen on this product but when I know the actual T&C, it really pull me off.

I wanted to get the handphone by transfering RM6k to my Ambank card. There is no transaction/administration cost. Wow that's great! More over I will be given a free handphone SE K550i worth RM849! AND interest rate of 8.99% pa ONLY!

Please be aware, this balance transfer is a bit different then the rest. Its based on a installment amount. Eg of normal balance transfer is that if you transfer RM6000 for 2 years, everymonth you only have to pay the minimum 5% and the interest rate. On another hand, this Ambank product converts RM6000 and interest of RM1078.80 (8.99% X RM6000 X 2 years) into 24 installment loans which each month you have to pay RM294.95 ( RM6000+RM1078.80 / 24 Months)as installment. Imagine, if you pay 8.99% interest per annum based on principle of RM6000 but effectively you are only borrowing RM3000 per annum (due to the reason that you have to service your principle amount every month). On net effect you are actually charged 8.99%X2=17.98% (normal interest is actually 18%pa, thus there is almost none different).

Wow, let see..... paying interest of RM1078.80 for a phone worth RM849. Well well if you have debt anyway and haven't done any balance transfer, they why not do this balance transfer and get some free gift. BUT if you have the cash, I rather buy by cash rather than this balance transfer. At least I get to choose more phone rather than SE K550i.

P/S: I do not consider compounding effect in this calculation for easy understanding (I hope I really had made it easier for you). Finally this post doesn't mean to condemn any product in the market, only trying to bring awareness to everyone. Thanks

Questions and Answer

1) Nova, I don't understand how the effective borring becomes RM3k when I actually transfer (borrow) RM6K from the bank, please explain in detail. Thanks.

Please refer to a simple table that I had done below:-
Scenario 1:-
If you borrowed RM6K, but you have to make payment of RM500 every month ( RM6K/12 months), therefore the amount of borrowing every month is lesser. If you take the average of borrowing amount every month (which is lesser each month), effectively you are borrowing only RM3K ((RM3250+RM2750)/2) in a year.

Scenario 2:-
Ok maybe you are lost still... lets compare to a normal situation. Your good friend lend you RM6K as per scenario 2. He said, hey VS I lend you RM6K for one year... please remember to return RM6K to me at the end of the year. Since you are not paying any installment to him along the year. Therefore effectively, you are really borrowing RM6K a year. Because everyday when you wake up from the bed, you are still owing him RM6K until you payback all.

P/S: Sorry if the table above is too small to view. Now you know I am not a good artist. I guess that's what they said the different between people who uses left brain more than right brain. :)

Flexi Mortgage Loan

2008-02-18T09:47:00.003+08:00

Basically there are 2 type of flexi mortgage loan.

The first type is the one that combine it with a current account. A few banks that has this package are Alliance, Standard Chartered and Hong Leong. Therefore they house owner will transfer all his current account from other bank to this bank eg Bank A. If the mortgage loan is RM200k, but he has RM20K in the current account, automatic the mortgage loan will be reduced to RM180. Therefore the mortgage loan amount changes according to how much the investor put in or take out from the current account. Please take note, if the money put into saving account or fixed deposit only gives you 2-4% but if put into this current account will saved you about 5% (eg BLR 6.57-1.75%). Remember one dollar saved is actually 1 dollar earned :)

The second type of flexi account means that you has the flexibility to do prepayment (meaning to pay more in order to settle the debt earlier) without having to give notice to the bank. Banks that has this package are Public Bank and OCBC.

You might be confuse when you see the second product coz hey my dad is already paying more everymonth for his installment. Hehehehe please read ur t&c carefully, the older mortgage product do not allow prepayment unless notify or request from the bank. Therefore any dollar you paid earlier is only stand by for the next month's installment and no interest given!

Both product above subject to a 5 years lock in (some 3 years depending on banks).

Good luck and happy investing.

Merdeka Bond, Is It Suitable For My Parents?

2008-02-15T15:50:00.000+08:00

Bank Negara Malaysia will issue Bon Simpanan Merdeka 2008 amounting to RM2 billion on 1 April 2008. Is RM2billion a lot? This investment might be as good as ASW2020. I remember many times that the ASW2020 are sold off in just 1 or 2 hours. So better be fast/early if you want to buy this.

The bond, which will be scripless and based on Syariah principles, is an additional savings instrument for senior citizens who are 55 years and above and not employed on a full-time basis.

There is nothing wrong to be a Syariah approved intruments. For the non Islamic investors, don't be so rigid about this. Basically Syariah investing are more stable. Another objective for this product is that it allows the Muslim investors to participate. Frankly, wouldn't investing in ASN better than this Merdeka Bond? Just the question to ponder since I never invest in ASN myself.

Those wishing to subscribe may apply for the bond during the sales period, commencing from 3 to 31 March 2008. The bond, which has a 3-year tenure, offers a return of 5% p.a. and provides flexibility for early redemption before the maturity date. This product will be as good as saving account! Just the flexibility to withdraw anytime and still be given the pro-rated interest and 5% interest per annum.

The minimum investment in the bond is RM1,000 with a maximum of RM50,000 per investor. Its good to have a capping of maximum RM50,000 of investment. Don't be suprise to see people coming in with RM1,000,000 cheque. Thus this provide opportunities for everyone to invest. A minimum of RM1,000 is fair enough. Its the minimum for any other unit trust funds.
Bon Simpanan Merdeka 2008 can be subscribed at all commercial banks, including Islamic banks, Bank Kerjasama Rakyat Malaysia Berhad, Bank Simpanan Nasional and Bank Pertanian Malaysia.

The allocation of the bond is based on first come first serve basis. Successful applicants will be notified by their agent banks????? Why successful applicant? Just a quick guess, maybe they will proceed with some checking to ensure that the applicant meets the criteria to investment (eg golden citizens whom are not on full time employment). Profit payments will be made through the bondholders' accounts with their agent banks. That means the interest cannot be reinvested.

The profit for BSM 2008 is 5% p.a. This means the profit is approximately 1.25% (5% divided by 4), of the investment amount at the end of each quarter. This is another advantage feature of this product. Normal Fixed Deposits only gives you the return at the end of the tenure. Assuming the dividend is reinvested at the same rate, the effective rate (due to the profit paid quarterly instead of yearly) will be 5.1%. Another thing is, the return are not taxable :)

The BSM 2008 is non-negotiable, non-transferable and non-assignable. BSM 2008 can be redeemed at face value on and before the maturity date but after the first profit payment. The profit payment will be apportioned based on the number of days the bond is held. Minimum redemption amount allowed is RM100. Bondholders may redeem their bond holdings in multiples of RM100. This provides liquidity to the golden citizen. Again well done. Its a good product for golden citizens.

Economical Way To Pay PTPTN

2008-02-13T15:33:00.002+08:00

Hi there, thanks that my friend brought up this issue to me.Ya it's kinda some cost to pay PTPTN... I mean the transaction cost. Especially for those whom pay monthly, RM2 (most expensive) per transaction can be quite something.

So there are some more convenient ways of paying and cheaper which is internet banking as the table on the right.FYI you can pay yearly or quarterly in order to save the transaction cost. Its allowed by PTPTN to pay yearly or quarterly if you do not have enough funds.

Assume monthly PTPTN payment is RM100 and each time transaction cost is RM2, therefore the trasaction cost is 2% (RM2/RM100). If pay half yearly on the same amount which is paying RM600 (RM100X6months) and transaction cost is RM2, therefore the transaction cost is 0.33% (RM2/RM600). Most important is, think about the convenience? Well you can consider to pay at early of the half year if you have the cash (thus will also save some interest). All the best gals and guys!

Tax Rebate on Computer Purchases (2007) - Does It Benefits The Lower Income?

2008-02-13T09:50:00.000+08:00

Thank you very much to you whom are still reading this despite so many write ups which my friends couldn’t understand much. I have to admit that either I have very poor English or bad presentation skill. But still I hope my sharing will enable you to know more and be more aware about your own financial planning.

Since year 2007, the rebate for computer has changed compare to year 2006. Lets start with review of the changes.

Table on the upper right shows the computer rebate for year 2006 and 2007 respectively.

Referring to the computer rebate for year 2007, it doesn’t seems to benefit much for the lower income group. Anyway looking at the flip side of this, it’s more beneficial to us in the long run assuming we will eventually fall among the higher income group. But it’s still a dilemma, I guess a RM500 rebate for a low income fresh graduate means more than a RM1000 rebate for someone whom is earning more than RM250K a year.

Take care my beloved readers, be aware and remember to have proper tax planning. Good luck and Happy Chinese New Year 2008!

Soft Dollar? What Is That?

2008-02-04T09:48:00.000+08:00

Maybe might not realise.... the investment managers are making money out of the brokerage that they trades for you.

In case you are noobs in stock investing, all trades that you do in share market will be charged a brokerage fees of 0.60% but since investment managers trade in huge volume, they are only charged eg. 0.30%.

When your unit trust trades in the market, the broker actually billed your fund 0.30%. Its the fund manager's discretionary to decide who is the broker ( in the case of mutual funds ). The question is WHO he will choose to execute the traders for him? On what basis of selection? Fees? Research? Relationship? Recipocal business? Execution?

What ever are the reasons, for 0.30% paid by using the investors money, the fund manager actually receive kicked back or softdollar from the broker.

Some investment managers (IM) doesn't receive soft dollar aka soft commission from the brokers because it's claimed that they get the best brokering fees thus no further kick back.

Some IM recieved the soft dollar but agree will put it back into the unit trust funds because it's investors money.

The tricky one are the IM that keeps the soft dollar for themself. I am not saying that's its not allowed or not ethical. As long as the soft dollar is used for research for the benefit of the investors, then it is perfectly fine.

Thanks to read my bla bla bla again... this is not a huhaaa thing in the market... just hope to bring some realisation or attention to you. The next time you pick up any unit trust prospectus, try to read for their soft dollar policy, you might find something suprising ;) FYI some use the softdollar for company dinner :) - of course this will not be disclosed in the prospectus. It's all ethical issue.

Who Wants To Be A Millionaire?

2008-02-02T23:27:00.000+08:00

Hi today my friend met me at "my banking hall", she went "gosh you really want to talk about finance to me?"... I said haha just joking its ok if you don't want to listen. She said ok just joking go ahead... when I wanted to start she said... you really are starting? hahaha I hope my writings really doesn't bored many people.

Well it start with, Nova I am looking for a rich man to marry. Will you be a millionaire? I said why not? Its not too difficult . Come one.... million is the kiddo thing. Now people are talking about multi millionaires or even billionaires.

She will ~!#$%%^&*( me if i disclose her name here... hahaha. Ok just a simple illustration by using your EPF money. If you have a proper planning. You can be a millionaire too. Below are the guidelines

1) You starting salary is RM2K a month.
2) You work for 30 years with 10% annual growth in your annual income for the first 10 years and 5% annual growth in y our annual income for the rest of the years.
3) Your return on asset is 5% pa ( historically, EPF always outperform the benchmark of 5%)
4) Assuming you never withdraw your money. ( I know this sound not logical or just take it as your money is transfered to other asset such as property. So still assume the money is yours)

By the end of 30 years you would have RM973K. That is already very close to 1Mill...

Hahaha ok lar... this is no rocket science and too many assumption. Just a simple calculation to give you more hope and you know that you can be a millionaire too.

I tried to include the calculation table but failed.... I am new blogger... So need some time to learn. Adios....

Citibank Shell Card, Who Is Misleading Who?

2008-02-01T13:47:00.000+08:00

I came across a blog that talks about Citibank draning away their cash because of unfair term and conditions for getting rebates in the petrol purchase at Shell and ~!!@#$#$%^&*

GUY! DO your homework and don't simply trust what these freelance blogger says. Do your own research! You can log into citibank.com.my and do your calculation. There is a virtual calculator there which allows you to key in your own balance carry forward and petrol purchase of the month etc.

I have personal sent email to Citibank confirm that YOU DO NOT NEED ANY BALANCE TO ENJOY THE PETROL REBATE.

Below attached a letter from Citibank:-

Dear Mr Nova Lui ,

Thank you for your e-mail dated 12/17/07 regarding credit card.Please be informed that if you have RM 0 carry forward balance, rebate will falls on the lowest tier. For example, you have RM 0 carry forward balance and the purchase for Shell petrol that month is at RM1000. You will get 2.50% or 1.50% rebate according to card type. Then you make full payment for RM1000 before due date, you will not be charged for 18%p.a interest for 20 interest-free period as per the Terms & Conditions.

Rebate earned will only net-off the Shell transaction in the next statement every RM20. If the amount is less than RM20, system will carryforward till your total rebate is at least RM20. This means that if there is no Shell transaction in the following month's stmt, the rebate will be carried forward and will not be credited to the card.We hope the above clarifies.

Thank you for using Citibank Online and have a nice day.

Regards,
Lxxy Axxxxin (Miss)Internet Service SupportCitibank Berhad

Credit Card Balance Transfer?

2008-02-01T13:34:00.000+08:00

How much everyone knows about balance transfer? It's not a gimmick really. Basically it's just that banks are willing to charge lower interest rate in order to transfer all your debts from other cards to their own card. Normally bank charge a certain so call service or management fees or processing fees to do it. It can be charged in percentage such as 1.5% or 2% or in certain fixed amount of RM20 to RM50 AGAIN OR which ever higher

So far a few good offers that i seen before as of today 1Feb 2008 is by CIMB/SBB which charges 1.5% service fees for 10 months of 0% balance transfer. Meaning that after the 10th month, the interest will be based on normal rate which is 1.5% per MONTH. Anyway the minimum transfer for this package is RM5K.

Another alternative is you can consider Ambank balance transfer, this package is not in their website... but the rate is quite good... 4.99%pa interest charged but without any service fees AND with minimum transfer of RM1K only! Therefore if you are a small spender like me... you should consider this instead...

If you have big spending amount and intend to go for long term... go for Maybank's balance transfer. It's about effective rate of slightly less than 5%pa with a service fees. I would say it's worth it if you intend to transfer big amount of money.

Remember! Credit card is used for convenient, not credit! But unless you can hedge your position to invest your money somewhere else... or you are really broke.

Do share with me if you find any other more interesting balance transfer. Thanks.

Online Share Trading? How good is that and how cheap is that?

2008-01-31T08:49:00.000+08:00

Good morning everyone... hmmm my friend pop up a question about online share trading to me this morning.... well welcome again to my banking hall... :)

Lets me introduce to you first what is online trading. Basically you can trade (buy or sell) your shares from anywhere with internet access. But not many people like it. What the reason?

The infrastructure is created in the way that the investors orders are actually sent to a company dealer whom will finally key in your order to the system. The investors are not able to sent his/her orders directly to Bursa. FYI Bursa is working to allow corporates trades to do it directly to Bursa which is called Direct Market Access (DMA). Because of the delay between the time investors key and and waiting for the dealer to press the last button, some investors are not comfortable, therefore still prefer to dail up and trade :)

Starting from 1/1/2008, the brokerage fees for online trading is FULLY NEGOTIABLE! Anyhow most companies still stick to the old fees of 30% discount from the normal phone trading. That comes to 0.42%( assuming if your brokerage fees is 0.60%, after 30% discount is 0.42% ) . If you have a very big trading volume.... maybe RM1mill and above (depends on the management decision), you can negotiate for lower price.

The minimum brokerage fees is also FULLY NEGOTIABLE! But again it's somehow all the banks and stockbroking firm has a common understanding to set it at RM28. Comparing to phone trading is minimum RM40. It is consider an increase in the minimum brokerage because last year it was charged at minimum rate of RM12. Therefore you have to trade at least RM6667 in order to enjoy the full benefit of 0.42% ( RM28/0.42%=RM6667 )

Petrol Linked Credit Cards? Enough! Which One Is Better?

2008-01-30T14:45:00.000+08:00

Currently there are a few petrol purchase relatedcredit cards in the market. Lets do a detailed reviewor analysis on these few cards. Imagine spendingRM300/month on petrol and getting a 3% rebate convertto a RM108 savings yearly!!!!! Ok ready, get set GO!!!

BHP- UOB ( also available for SCB and Affin but i am notgoing to discuss about this )

UOB offers 2% cash rebate (redeemable after accumulateRM50) for both classic and gold cardUse this card together with BHP E-points, 1 point forRM1 purchase of petrol and you can redeem RM5 for each500 epoints you have. That convert to another 1% ofrebateTherefore the total rebate for using UOB with BHPEpoint is 2%+1%= 3%

Petronas
- Maybank (Petronas VISA)

Offer 5X treat points (TP) for every RM of petrolpurchases. You need to spend RM1800 in order to get9000TP which is redemable for RM50 (RM10X5 worth ofpetrol voucher). This convert to a rebate of 2.78%(RM50/RM1800). BUT 5X EXTRA POINTS IS ONLY VALID TILL31 JULY 2008.

Use this card together with Petronas Mesra Card, everyRM1 purchase of petrol will get 1 mesra point. If you use RM7600 on petrol, u are entitle for RM50 cashvoucher which is equivalent to another rebate of 0.66%

Therefore the total rebate for using Maybank with Kadmesra is 2.78%+0.66%= 3.44% (THIS CALCULATION IS ONLYVALID TILL 31 JULY 2008 BECAUSE OF THE 5X POINTSPROMOTIN BY MAYBANK)

- CIMB (Petronas Master)CIMB offers 2% cash rebate for both classic and goldcard

Use this card together with Petronas Mesra Card, everyRM1 purchase of petrol will get 1 mesra point. If youuse RM7600 on petrol, u are entitle for RM50 cashvoucher which is equivalent to another rebate of 0.66%Therefore the total rebate for using CIMB with Kadmesra is 2%+0.66%= 2.66%

Shell
- Citibank

Offers 1.5% rebate (classic card and assume no balancecarry forward) while 2.5% rebate (gold card and assumeno balance carry forward)

Use this card together with Bonus Link Card, every RM1purchase of petrol will get 1 Bonus Link point (thereis bonus points structure too). If you use RM5200 onpetrol, u are entitle for RM50 cash voucher which isequivalent to another rebate of 0.96%

Therefore the total rebate for using Citibank Cardwith Bonus Link card is 1.5%+0.96%= 2.46% for classicand 2.5%+0.96%=3.46% for gold cardOther BanksPlease take note that RHB also has travel money pointswhich offer 5X points for all petrol purchases on anypetrol station.

CONCLUSION:-If you can get classis card only, then I suggest youto use UOB (total 3% rebate). If you can get goldcard, then go for Citibank (total 3.46% rebate).If you are too lazy to make payment (or it's really soinconvenient for you to make payment at Citibank orUOB), then use Maybank or CIMB bank.For the lazy bums, I suggest you to take Maybank (ifyou fancy the 5X treat points) else just go forCIMB... personally I think MBB and CIMB providesequivalent service... Hope this helps to summarize almost all of the petrollinked credit cards in Malaysia. Adios!!!