It is the morning of commemorating the 1941 Pearl Harbor attack. Yesterday 6 December marked the 19th year of the death of Malaysia's first PM Tunku Abdul Rahman Putra. I still remember in 1990 (during my busy days commuting between Kuala Pilah and Kuala Lumpur to arrange my father's car insurance claim) when the news broke out Malaysia was silent for a while. Economic activity stopped. People weep,some broke into tears while others won't believe that The Father of Independence had died.
If the Sultan of Melaka is still alive he would be elated that his mistakes of losing Melaka to the Portuguese in 1511 hence the fall of the Melaka Sultanate was paid for by another royal household i.e. Tunku who was the son of a Kedah Sultan.
Tomorrow 8 December will mark the 22nd year my grandfather died. May God bless him.
Now that Malaysia has two submarines bearing the name of Tunku Abdul Rahman and Tun Razak (2nd PM), Malaysia is one step further to become a developed nation. If anyone reads the biography of the late Tunku one must realize that PM Najib's One Malaysia vision was based on Tunku's ideas too. I like to read Tunku's book "Looking Back"
Al Fatehah!
Monday, December 7, 2009
Thursday, December 3, 2009
GST in 2011
It is now confirmed that Malaysia will introduce GST in Fall 2011. The rate is merely 4%. During my forgotten days between 1991 to 1997 I always wonder what was GST. And the same with VAT. It was only after my auntie died in September 1998 that I began to remember that I used to pay tax in Canada whenever I buy something i.e.provincial tax. If I'm not mistaken the rate for Saskatchewan provincial tax was 7% then.
By this time everyone should be doing some Christmas shopping. I remember during the 1987 Christmas shopping season I bought a Taiwan made stereo at Sears Mid town plaza Saskatoon for CAD 400. I still remember I met a granny with typical British accent although she said she was a Canadian. I know she is still alive.I hope I could meet her again. I wonder if I paid any Saskatchewan tax at that time...
Back to GST. In 1993 when the Canadian PC Mulroney government was defeated by Liberals Jean Chr'etian, I remember how my Saskatchewan friends used to say Chr'etian as the short tongue politician. The reason being Chr'etian never really honor his words because instead of repealing GST ,he introduced Harmonized Sales Tax HST.
I am eager to know the details of Malaysian GST. What sectors will be affected? I know hotels and fast food outlets are already imposing sales tax.(I worked as a trainee at McDonalds in 1995).What about small traders in rural Felda areas? Big items such as cars... If Gst is imposed then will cars be much cheaper? I remember then I did not pay any tax for gas in Saskatchewan.(remembering that PetroCanada gas station where I used to get free car wash although I paid only CAD 10 for gas and that blond counter girl)
GM
Now that GM is searching for new CEO, I wonder if GM can really choose someone who loves cars instead of the big perks. From 1991 - 1997 Proton and Perodua appointed CEOs from outside who were merely interested in big bucks. So the cars which Proton and Perodua made were not world standards.
It is the same thing if the government appoints someone who hates traveling to become diplomats. (no matter how good his language ability other than English was)
Malaysia is having mega sale again until January 2010. Come to Malaysia for your Christmas shopping.
Welcome to Melaka because Visit Melaka is Visit Malaysia.
By this time everyone should be doing some Christmas shopping. I remember during the 1987 Christmas shopping season I bought a Taiwan made stereo at Sears Mid town plaza Saskatoon for CAD 400. I still remember I met a granny with typical British accent although she said she was a Canadian. I know she is still alive.I hope I could meet her again. I wonder if I paid any Saskatchewan tax at that time...
Back to GST. In 1993 when the Canadian PC Mulroney government was defeated by Liberals Jean Chr'etian, I remember how my Saskatchewan friends used to say Chr'etian as the short tongue politician. The reason being Chr'etian never really honor his words because instead of repealing GST ,he introduced Harmonized Sales Tax HST.
I am eager to know the details of Malaysian GST. What sectors will be affected? I know hotels and fast food outlets are already imposing sales tax.(I worked as a trainee at McDonalds in 1995).What about small traders in rural Felda areas? Big items such as cars... If Gst is imposed then will cars be much cheaper? I remember then I did not pay any tax for gas in Saskatchewan.(remembering that PetroCanada gas station where I used to get free car wash although I paid only CAD 10 for gas and that blond counter girl)
GM
Now that GM is searching for new CEO, I wonder if GM can really choose someone who loves cars instead of the big perks. From 1991 - 1997 Proton and Perodua appointed CEOs from outside who were merely interested in big bucks. So the cars which Proton and Perodua made were not world standards.
It is the same thing if the government appoints someone who hates traveling to become diplomats. (no matter how good his language ability other than English was)
Malaysia is having mega sale again until January 2010. Come to Malaysia for your Christmas shopping.
Welcome to Melaka because Visit Melaka is Visit Malaysia.
Wednesday, November 25, 2009
Perodua MPV "ALZA"
A few days ago Perodua i.e. the second National Car (Perusahaan Otomobil Kedua) launched its version of MPV. Clearly the Alza is next after Proton Exora. I was at the showroom yesterday. Perodua is obvious in maintaining its Japanese partners identity i.e. Toyota and Daihatsu. Rarely I see a vehicle with center meter panel but for Alza, Perodua has made the move of change. I'm not into MPV but I know Exora and Alza are good products. Even when I was in Saskatoon the only mpv I drove was my then landlord's GM Dodge. It was huge and I felt as if I was driving a container truck.
Walking back from the showroom I remember a song which I downloaded last week. The title was "Surat Terakhir" or the "Final Letter" and sung by 70s singer Salamiah Hassan. As I listened to the song the lyric which really touched my heart was
"I hope no other women will receive the same rejection letter"
I remember I listened to the same song over and over again as I was driving alone from Saskatoon Saskatchewan to Thunder Bay Ontario during the 1989 mid term break. It was one hell of a blizzard and very very cold.
At the Seremban Public Library I looked at the latest issue of The Economist. Thank God my calculation on GDP was correct because The Economist estimate a -2.4% GDP for 2009 while I calculated -2.8% ( the variance is small )
The government's estimate for 2009 deficit at less than 6% is far less than The Economist figure of 8%. But bear in mind that PM Najib has revised the 2009 budget before tabling the 2010 budget.
For readers who like sentimental songs I strongly suggest downloading Surat Terakhir from Salamiah Hassan. There are some Korean and Japanese songs which I loved to hear. For example "Winter Sonata" a Korean song.
Thumbs UP Proton and Perodua !
Walking back from the showroom I remember a song which I downloaded last week. The title was "Surat Terakhir" or the "Final Letter" and sung by 70s singer Salamiah Hassan. As I listened to the song the lyric which really touched my heart was
"I hope no other women will receive the same rejection letter"
I remember I listened to the same song over and over again as I was driving alone from Saskatoon Saskatchewan to Thunder Bay Ontario during the 1989 mid term break. It was one hell of a blizzard and very very cold.
At the Seremban Public Library I looked at the latest issue of The Economist. Thank God my calculation on GDP was correct because The Economist estimate a -2.4% GDP for 2009 while I calculated -2.8% ( the variance is small )
The government's estimate for 2009 deficit at less than 6% is far less than The Economist figure of 8%. But bear in mind that PM Najib has revised the 2009 budget before tabling the 2010 budget.
For readers who like sentimental songs I strongly suggest downloading Surat Terakhir from Salamiah Hassan. There are some Korean and Japanese songs which I loved to hear. For example "Winter Sonata" a Korean song.
Thumbs UP Proton and Perodua !
Saturday, November 21, 2009
GDP Q309 at -1.2%
BNM announced the third quarter GDP yesterday. I must admit the figures are interesting.
Q309 GDP -1.2%
Clearly this figure is acceptable for the time being. Since Q309 is better than Q209 I must also revise my estimate on 2009 GDP. Thus I say the 2009 GDP will be -2.8%
CPI
Q209 at 1.3%
Q309 at 2.3%
If I go to the wet market during this rainy season the price of fish, prawn and squids are quite high. Will it reflect the Q409 CPI?
Financial Sector
RWCR at 14.5% , CCR at 12.9% , Net NPL at 2.1%
Insurance Capital Adequacy Ratio at 214% compared to Q209 at 208%
It must be noted that NPL is classified between 1 to 3 months
Trade
Despite the reduced trade (imports down 18.3% , exports down 22.3%) a trade surplus of RM26.7 Billion is attained while reserves maintained at $96 Billion US.
The decision of the US Government to abandon FTA with Malaysia is understandable. I wonder if the US is keen on GSP with Malaysia again. To me FTA is good with a few set backs. As a result of the US Canada FTA 1989 the Canadian government was forced to relent to the CAW demands and bailed out General Motors Co last summer. If the Ontario government decides to save Canadian taxpayers money then many CAWs are jobless.
FDI
Q209 RM91 Billion, Q309 RM62 Billion
Honestly I don't understand this figure. A lower FDI while there is no more FDI committee? To me increasing interest rate per se will not attract much FDI.
Perhaps my earlier prediction of a lower consumption spending does not materialize. Obviously H1N1 has little impact on Malaysians. I guess I overlooked this particular aspect.
I look forward to a positive GDP Q409 number.
Q309 GDP -1.2%
Clearly this figure is acceptable for the time being. Since Q309 is better than Q209 I must also revise my estimate on 2009 GDP. Thus I say the 2009 GDP will be -2.8%
CPI
Q209 at 1.3%
Q309 at 2.3%
If I go to the wet market during this rainy season the price of fish, prawn and squids are quite high. Will it reflect the Q409 CPI?
Financial Sector
RWCR at 14.5% , CCR at 12.9% , Net NPL at 2.1%
Insurance Capital Adequacy Ratio at 214% compared to Q209 at 208%
It must be noted that NPL is classified between 1 to 3 months
Trade
Despite the reduced trade (imports down 18.3% , exports down 22.3%) a trade surplus of RM26.7 Billion is attained while reserves maintained at $96 Billion US.
The decision of the US Government to abandon FTA with Malaysia is understandable. I wonder if the US is keen on GSP with Malaysia again. To me FTA is good with a few set backs. As a result of the US Canada FTA 1989 the Canadian government was forced to relent to the CAW demands and bailed out General Motors Co last summer. If the Ontario government decides to save Canadian taxpayers money then many CAWs are jobless.
FDI
Q209 RM91 Billion, Q309 RM62 Billion
Honestly I don't understand this figure. A lower FDI while there is no more FDI committee? To me increasing interest rate per se will not attract much FDI.
Perhaps my earlier prediction of a lower consumption spending does not materialize. Obviously H1N1 has little impact on Malaysians. I guess I overlooked this particular aspect.
I look forward to a positive GDP Q409 number.
Correction - Tuanku Muhriz
The correct spelling of the new installed Negeri Sembilan ruler is:
Tuanku Muhriz ibni Almarhum Tuanku Munawir.
Please forgive me for the mistake.
Tuanku Muhriz ibni Almarhum Tuanku Munawir.
Please forgive me for the mistake.
Monday, November 16, 2009
GM To Repay Loans
Reading from the Associated Press that General Motors Co will start repaying its loans from the US and Canadian governments is expected. Right from the beginning of the crisis I have no doubts on GM's ability to pay its loans on time.
The initial sum of $6.7 billion to be paid quarterly i.e. $1 billion to the US government and $200 million to the Canadian government indicates the cash flow stream of GM. I do not know if the US and Canadian governments would charge penalties for early repayments because Malaysian banks do charge some money for early paid off loans. ( My car loan was paid off 3 months earlier than the July 2009 deadline - the bank charged a sum of interests although it was an Islamic Loan from a conventional bank)
Uni Asia General Insurance
Uni Asia General Insurance will soon go bankrupt! That is my prediction.
The initial sum of $6.7 billion to be paid quarterly i.e. $1 billion to the US government and $200 million to the Canadian government indicates the cash flow stream of GM. I do not know if the US and Canadian governments would charge penalties for early repayments because Malaysian banks do charge some money for early paid off loans. ( My car loan was paid off 3 months earlier than the July 2009 deadline - the bank charged a sum of interests although it was an Islamic Loan from a conventional bank)
Uni Asia General Insurance
Uni Asia General Insurance will soon go bankrupt! That is my prediction.
My Grandmother Died
On 10th November at 11am my grandmother on my father's side died. The news was expected considering she was 90 years old and senile. So now I have no more grandparents.
Al-Fatehah
Al-Fatehah
Saturday, November 7, 2009
SOCCER- Malaysia Cup 2009
My congratulations to the Negeri Sembilan soccer team on winning the Malaysia Cup final. As Negeri Sembilan is where my roots came from I am proud of the 2009 team. This cup is indeed a present to Tuanku Mukris who was recently installed as the new Negeri Sembilan ruler.
Queen of Peoples' Heart
For quite sometime I've been trying to download the song "Candle in the wind" which Elton John sang during the late Princess Diana's funeral. By chance I was able to download that particular song today. As I was listening over and over again, tears came down from my eyes ^^^^^^^^^^^^^^^^^^^^
Queen of Peoples' Heart
For quite sometime I've been trying to download the song "Candle in the wind" which Elton John sang during the late Princess Diana's funeral. By chance I was able to download that particular song today. As I was listening over and over again, tears came down from my eyes ^^^^^^^^^^^^^^^^^^^^
Thursday, November 5, 2009
The Opel Experience
My first few articles were mainly aimed at remembering my driving experience in Canada. But I forgot some things too. For instance when I was small my late father owned a Volkswagen. I never wrote that initially. Recently I remember I drove an Opel in 1991. It was a Kadett 1200 manufactured in 1978. Honestly I did not feel the umph because the Opel Kadett was an old model then and I think that particular car was already in the junkyard.
I wonder what was GM's strategy when the boards decided to keep the Opel unit.
If I am a rich person I would buy Opel the company BUT just like Malaysia's famous artist the late Tan Sri P Ramlee said in one of his humor movies "he wants to get married but he has only RM1" (the movie is Bujang Lapuk or the Bachelors and Spinsters)
The Opel episode shall continue...
I wonder what was GM's strategy when the boards decided to keep the Opel unit.
If I am a rich person I would buy Opel the company BUT just like Malaysia's famous artist the late Tan Sri P Ramlee said in one of his humor movies "he wants to get married but he has only RM1" (the movie is Bujang Lapuk or the Bachelors and Spinsters)
The Opel episode shall continue...
Monday, November 2, 2009
Manual Versus Automatic Vehicles
Before I went to Canada I never had the chance to drive automatic cars. The Malaysian culture is such that manual cars are much faster compared to automatic cars. A man who drives an auto car is considered a women in Malaysia.
I wonder if there is any CORRELATION between a standard and automatic cars which involved in an accident. I once talked with a traffic police who said accidents in Malaysia involved mainly STANDARD cars. There must be a study on this matter. But the new generation of Malaysians are DEVIATING themselves towards auto cars. My younger sister recently bought an auto Proton and so were my uncles and cousins. It costs at least a thousand more for an auto car compared to a standard in Malaysia.
I wonder if there is any CORRELATION between a standard and automatic cars which involved in an accident. I once talked with a traffic police who said accidents in Malaysia involved mainly STANDARD cars. There must be a study on this matter. But the new generation of Malaysians are DEVIATING themselves towards auto cars. My younger sister recently bought an auto Proton and so were my uncles and cousins. It costs at least a thousand more for an auto car compared to a standard in Malaysia.
NATIONAL AUTOMOTIVE POLICY - REVIEW
The Najib administration announced a review on the NAP recently. As expected the car tariffs are maintained but the decision to allow 100% ownership on foreign makes to open manufacturing facilities in Malaysia is unexpected. Maybe it would be better if the government impose a 65% local contents on these foreign car companies. Of course the engine and chassis must come CBU from the originating country. This manufacturing license is limited to luxury cars and motorbikes, hybrid and electric vehicles, pick ups trucks and commercial vehicles.
I have no comment on the ban of used automotive parts but the termination of AP (Approved Permit) to import vehicles by 2020 is long overdue.
My biggest worry is the year 2017 when my Perodua Kancil will be 15 years old. The new rule requires vehicles more than 15 years old be scraped or be subject to 100% inspection before a new road tax is given. This rule was imposed previously for commercial vehicles but accidents are still rampant. The government must provide better amenities for car owners so that this rule of scrapping 15 year old vehicles will not become a headache not only to the authorities but also to the car owners.
One thing which this review overlooked is the accident claims by car owners from the insurance companies. Contrary to Canada, a vehicle in Malaysia must be insured to get it on the road. As for my younger brother's car, his car accident claim with Uni Asia General Insurance has been 6 weeks now.The last time he talked to the workshop, the adjuster just came by and looked. My goodness the adjuster was so slow. In 1990 it took me a month to get my late father's car repaired by the workshop after my car crash December 2, 1990. Bear in mind in 1990 internet is known only in the land of uncle Sam. THERE must be a law for insurance companies to speed up accident claims.
Whether this revised NAP will be a boost to the Malaysian auto industry is too early to predict. But with Ford posing a profit despite GMACs appetite for more American tax payers money my instinct says we are on the RIGHT direction.
I have no comment on the ban of used automotive parts but the termination of AP (Approved Permit) to import vehicles by 2020 is long overdue.
My biggest worry is the year 2017 when my Perodua Kancil will be 15 years old. The new rule requires vehicles more than 15 years old be scraped or be subject to 100% inspection before a new road tax is given. This rule was imposed previously for commercial vehicles but accidents are still rampant. The government must provide better amenities for car owners so that this rule of scrapping 15 year old vehicles will not become a headache not only to the authorities but also to the car owners.
One thing which this review overlooked is the accident claims by car owners from the insurance companies. Contrary to Canada, a vehicle in Malaysia must be insured to get it on the road. As for my younger brother's car, his car accident claim with Uni Asia General Insurance has been 6 weeks now.The last time he talked to the workshop, the adjuster just came by and looked. My goodness the adjuster was so slow. In 1990 it took me a month to get my late father's car repaired by the workshop after my car crash December 2, 1990. Bear in mind in 1990 internet is known only in the land of uncle Sam. THERE must be a law for insurance companies to speed up accident claims.
Whether this revised NAP will be a boost to the Malaysian auto industry is too early to predict. But with Ford posing a profit despite GMACs appetite for more American tax payers money my instinct says we are on the RIGHT direction.
My Health
On October 20, I went to the Tuanku Ampuan Najihah Hospital in Kuala Pilah for my regular check up. After much deliberation the doctor decided to discharge me from the specialist clinic. Instead after this I would just go to the Kuala Pilah out patient clinic. I hate it to go to the clinic everyday to get my blood pressure readings!
Sunday, October 25, 2009
BUDGET 2010 - Review
AMOUNT ALLOCATION
A total sum of RM191.5 Billion is allocated which is 11.2% lower than the revised allocation for 2009 budget of RM215.7 Billion. Operating expenditure is RM138.3 Billion (72.2%) and Development expenditure of RM53.2 Billion (27.8%)
DEFICIT
The government estimates a lower deficit for 2009 at 7.4% .In 2010 the deficit is expected to be at 5.6% - But I still think the deficit for 2009 is closed to 8%
GDP
For 2009 GDP is envisaged at -3%. This is also in line with my estimate considering a constant -3.9% growth for 3rd quarter and 0.1% for quarter 4 2009. The government foresee a 2% to 3% growth in 2010.
CPI
The government foresee a 1.5% to 2.5% inflation. My forecast is 3%.
UNEMPLOYMENT
PM Najib expects unemployment to be less than 4%. My instinct says 4.5%
PER CAPITA INCOME & PURCHASING POWER PARITY
Per capita income of RM24,661 and purchasing power parity of USD 13,177
INCOME TAX
For Malaysians earning more than RM100,000 annually the taxable rate is reduced by 1% to 26%. Personal allowances increase from RM8,000 to RM9,000. Users of high speed broadband can claim up to RM500 on their receipts while those with Green Building Index status can claim a return for expenditure on green building.For Malaysians who buy annuity an extra RM1,000 can be claimed for relief under EPF and insurance.
CREDIT CARD
CHARGES
Annual fee of RM50 will be imposed on each credit and charge cards. For any supplementary card a fee of RM25 is levied. Too early to conclude if Malaysians will practice prudence spending.
I do not understand the worry because RM50 is so small compared to the salaries of those credit cards users.If you can have credit cards then you have to pay the annual fees.
EMPLOYEES PROVIDENT FUND EPF CONTRIBUTION
When Malaysia started to experience the impact of credit crunch, the government decided to lower the employees contribution to 8%. The government must be very optimistic about the 2010 economy that beginning 2010 the contribution will be increased to 11% again.
The setting up 1Malaysia Retirement Scheme to be administered by EPF is welcome because it will certainly benefit farmer with NO fixed income like me.
NEW INSURANCE AND TAKAFUL
By mid 2010 new motor insurance and takaful scheme will be set up to benefit low income Malaysians like me.
FINANCE
Commissions between agents and remisiers will be liberalised. The decision to introduce E Dividend scheme to shareholders is timely.
Malaysia as the biggest SUKUK (Islamic Bond) issuer will introduce more sukuks.
LIGHT RAIL TRANSIT
It is good that the government would spend large money for new LRT units. I took the LRT,KTMB and Express Rail Link trains on October 6th. The conditions were terrible. Squeeking noises and the units were hay wire as if the absorbers broke into pieces. Even the ticket machines were broken.LRT stations need more parking spaces too.
GOODS AND SERVICES TAX GST
The government is prepared to introduce GST in Malaysia after an in depth study. My question for a farmer like me can I charge gst if I sell my bananas?
FUEL SUBSIDY
PM Najib proposes a new fuel subsidy scheme using My Kad. Does that mean I have to show My Kad whenever I buy gas? I could foresee fraud.Even when I buy gas and use the petroleum company gift card my card was always been changed with someone else.There are potentials for identity lost if My Kad is used.
EDUCATION
Pre school education to be enhanced. Taska or kindergartens will be set up at government departments. This is a good idea because as more kindergartens are opened more graduate women can be employed thus they would shy away from their dreams to become artists and singers.
30 National Scholarships to be based on merit will be set up.I wonder what the proportion be like in 2010.......
PTPTN borrowers will be granted scholarship if they could obtain 1st class honors.
CONSORTIUM OF FELDA, FELCRA and RISDA
If the late Tun Razak set up FELDA (Federal Land Agriculture Authority) , FELCRA (Federal Land Cultivation and Research Authority) and RISDA (Rubber Industry Smallholders Development Authority) then PM Najib proposes a consortium of Felda, Felcra and Risda. I see this move as cost cutting measures because among these 3 agencies there are overlapping functions.
CONCLUSION
Overall this is an interesting budget. When time is hard then the most noble move is to reduce spending because revenue is also declining. But important areas such as education will continue receiving aids. Civil servants must understand the government financial ability that it could not pay bonuses but instead a sum of RM500 will be paid in December 2009. Despite H1N1 tourists continue to come to Malaysia.There are many places to see especially if you go to MELAKA.
"WHERE IT ALL BEGAN"
A total sum of RM191.5 Billion is allocated which is 11.2% lower than the revised allocation for 2009 budget of RM215.7 Billion. Operating expenditure is RM138.3 Billion (72.2%) and Development expenditure of RM53.2 Billion (27.8%)
DEFICIT
The government estimates a lower deficit for 2009 at 7.4% .In 2010 the deficit is expected to be at 5.6% - But I still think the deficit for 2009 is closed to 8%
GDP
For 2009 GDP is envisaged at -3%. This is also in line with my estimate considering a constant -3.9% growth for 3rd quarter and 0.1% for quarter 4 2009. The government foresee a 2% to 3% growth in 2010.
CPI
The government foresee a 1.5% to 2.5% inflation. My forecast is 3%.
UNEMPLOYMENT
PM Najib expects unemployment to be less than 4%. My instinct says 4.5%
PER CAPITA INCOME & PURCHASING POWER PARITY
Per capita income of RM24,661 and purchasing power parity of USD 13,177
INCOME TAX
For Malaysians earning more than RM100,000 annually the taxable rate is reduced by 1% to 26%. Personal allowances increase from RM8,000 to RM9,000. Users of high speed broadband can claim up to RM500 on their receipts while those with Green Building Index status can claim a return for expenditure on green building.For Malaysians who buy annuity an extra RM1,000 can be claimed for relief under EPF and insurance.
CREDIT CARD
CHARGES
Annual fee of RM50 will be imposed on each credit and charge cards. For any supplementary card a fee of RM25 is levied. Too early to conclude if Malaysians will practice prudence spending.
I do not understand the worry because RM50 is so small compared to the salaries of those credit cards users.If you can have credit cards then you have to pay the annual fees.
EMPLOYEES PROVIDENT FUND EPF CONTRIBUTION
When Malaysia started to experience the impact of credit crunch, the government decided to lower the employees contribution to 8%. The government must be very optimistic about the 2010 economy that beginning 2010 the contribution will be increased to 11% again.
The setting up 1Malaysia Retirement Scheme to be administered by EPF is welcome because it will certainly benefit farmer with NO fixed income like me.
NEW INSURANCE AND TAKAFUL
By mid 2010 new motor insurance and takaful scheme will be set up to benefit low income Malaysians like me.
FINANCE
Commissions between agents and remisiers will be liberalised. The decision to introduce E Dividend scheme to shareholders is timely.
Malaysia as the biggest SUKUK (Islamic Bond) issuer will introduce more sukuks.
LIGHT RAIL TRANSIT
It is good that the government would spend large money for new LRT units. I took the LRT,KTMB and Express Rail Link trains on October 6th. The conditions were terrible. Squeeking noises and the units were hay wire as if the absorbers broke into pieces. Even the ticket machines were broken.LRT stations need more parking spaces too.
GOODS AND SERVICES TAX GST
The government is prepared to introduce GST in Malaysia after an in depth study. My question for a farmer like me can I charge gst if I sell my bananas?
FUEL SUBSIDY
PM Najib proposes a new fuel subsidy scheme using My Kad. Does that mean I have to show My Kad whenever I buy gas? I could foresee fraud.Even when I buy gas and use the petroleum company gift card my card was always been changed with someone else.There are potentials for identity lost if My Kad is used.
EDUCATION
Pre school education to be enhanced. Taska or kindergartens will be set up at government departments. This is a good idea because as more kindergartens are opened more graduate women can be employed thus they would shy away from their dreams to become artists and singers.
30 National Scholarships to be based on merit will be set up.I wonder what the proportion be like in 2010.......
PTPTN borrowers will be granted scholarship if they could obtain 1st class honors.
CONSORTIUM OF FELDA, FELCRA and RISDA
If the late Tun Razak set up FELDA (Federal Land Agriculture Authority) , FELCRA (Federal Land Cultivation and Research Authority) and RISDA (Rubber Industry Smallholders Development Authority) then PM Najib proposes a consortium of Felda, Felcra and Risda. I see this move as cost cutting measures because among these 3 agencies there are overlapping functions.
CONCLUSION
Overall this is an interesting budget. When time is hard then the most noble move is to reduce spending because revenue is also declining. But important areas such as education will continue receiving aids. Civil servants must understand the government financial ability that it could not pay bonuses but instead a sum of RM500 will be paid in December 2009. Despite H1N1 tourists continue to come to Malaysia.There are many places to see especially if you go to MELAKA.
"WHERE IT ALL BEGAN"
Tuesday, October 20, 2009
20 October 2009 - RELIEF
INSTALLATION OF NEW NEGERI SEMBILAN RULER
On 26 October the province of Negeri Sembilan where I'm residing will install a new ruler Tuanku Mukris Ibni Almarhum Tuanku Munawir. This will indeed be a special occasion if any of my fellow readers are interested to see a unique Malay installation ceremony but I am not sure if the ceremony can be viewed online. "DAULAT TUANKU"
BUDGET 2010
Prime Minister Najib who is also the Finance Minister will unveil the 2010 budget on 23 October. As everyone else I am also interested to know how the government is tackling the 9% deficit and whether the GST will be introduced.But I reckon even if GST is introduced it will be in stages.
MY HEALTH
I went to see a cardiologist at Serdang Hospital near Putrajaya during the first week of October. As I expected my ectopics was a result of my blood pressure pills so I have nothing to worry. Instead I am now being referred to the Kuala Pilah Out patient clinic for blood pressure observation.
On 26 October the province of Negeri Sembilan where I'm residing will install a new ruler Tuanku Mukris Ibni Almarhum Tuanku Munawir. This will indeed be a special occasion if any of my fellow readers are interested to see a unique Malay installation ceremony but I am not sure if the ceremony can be viewed online. "DAULAT TUANKU"
BUDGET 2010
Prime Minister Najib who is also the Finance Minister will unveil the 2010 budget on 23 October. As everyone else I am also interested to know how the government is tackling the 9% deficit and whether the GST will be introduced.But I reckon even if GST is introduced it will be in stages.
MY HEALTH
I went to see a cardiologist at Serdang Hospital near Putrajaya during the first week of October. As I expected my ectopics was a result of my blood pressure pills so I have nothing to worry. Instead I am now being referred to the Kuala Pilah Out patient clinic for blood pressure observation.
Friday, October 2, 2009
Act Of God
My Younger Brother
I thank God for his kindness last Friday 25th September when my younger brother's life and his family was spared in a car crash. His car was involved in a bumper to bumper collision. So for the next few months I'm without my wheels because he is using my car.
Earthquake
My condolence to the victims and families of the Sumatra and Samoan quakes. There were many Malaysian students studied in Padang Sumatra and they have to be flown back home by the Malaysian Air Force. It is time the Indonesian Government follow the way the Japanese build their homes and high rises.
The Malay
Businessmen
When my late father was alive, he gave permission to an old man and his family to erect a small business premise in front of my house. By right the land is owned by the government. But that old man was a bad man. On 19 April 2004 he brought some men to intimidate and attack my father and I. With the blackmail my late father had to relent though I knew he regretted giving the permission to build that small shop. When my father died these bad people had erected large shop houses and even had encroached my family land. The local authority did nothing. These people are rich. They can own a Corolla Altis, a 4 wheel drive and many other expensive cars (costs at least RM100k each) but why don't they buy a shop house somewhere else? Why they are so interested to do business in front of my home? They also like to park and block my front gate. THAT is the attitude of the Malay Business community.
I expect a retaliation from them after this article is published.
I thank God for his kindness last Friday 25th September when my younger brother's life and his family was spared in a car crash. His car was involved in a bumper to bumper collision. So for the next few months I'm without my wheels because he is using my car.
Earthquake
My condolence to the victims and families of the Sumatra and Samoan quakes. There were many Malaysian students studied in Padang Sumatra and they have to be flown back home by the Malaysian Air Force. It is time the Indonesian Government follow the way the Japanese build their homes and high rises.
The Malay
Businessmen
When my late father was alive, he gave permission to an old man and his family to erect a small business premise in front of my house. By right the land is owned by the government. But that old man was a bad man. On 19 April 2004 he brought some men to intimidate and attack my father and I. With the blackmail my late father had to relent though I knew he regretted giving the permission to build that small shop. When my father died these bad people had erected large shop houses and even had encroached my family land. The local authority did nothing. These people are rich. They can own a Corolla Altis, a 4 wheel drive and many other expensive cars (costs at least RM100k each) but why don't they buy a shop house somewhere else? Why they are so interested to do business in front of my home? They also like to park and block my front gate. THAT is the attitude of the Malay Business community.
I expect a retaliation from them after this article is published.
Wednesday, September 23, 2009
I HATE MALAYSIA
I want to see the world. For the past 19 years I have never seen the world. I was in Malaysia all the time , the country where I was born and I hate it like hell. I do not understand why I was deprived that opportunity to see the world by that bastard big shot.Among the cities which I really want to visit include London UK, Amsterdam The Netherlands, Paris, New York the World Financial Center, Monaco and of course Saskatoon Canada.
I want my life back i.e. the life before 15 October 1990. It is my hope to receive offer from any organization and I meant any organization ( even if it is the Jewish association) so I could get out from Malaysia as soon as possible.
Malaysians may provide funds for me if I want to leave Malaysia but with many conditions. If in 1987 I went to Saskatchewan Canada with 21 Malay women I bet this time it would be 21 men instead. These 21 men would be guaranteed a degree since their main tasks was to bullshit, control my life and most of all to hit me physically should I fall in love with Caucasian women again.
That particular big shot with his global network would use his contacts to make sure I would quit after one month of studies and especially if I go to New York. The reason being he cannot do it in 1987 because I was doing well in my studies then. It was only in August 1990 that he succeeded when he purposely directed the Malaysian Students Department officers to alter my results with another Malaysian who has the same first name as mine BUT DIFFERENT second name. So the other chap could repeat his first year studies at Saskatchewan and instead I have to leave Canada. That chap was sacked by College of Commerce University of Saskatchewan in August 1988. Furthermore that chap's father was one of Malaysia Airlines bosses but my late father then was just a rural teacher who cannot speak fluent English.
I know one of my friends who went to Saskatchewan with me is doing her post graduate courses at Harvard The United States. In Malaysia she is one of the top women CEO's. But who am I to argue because I am nobody and I do not even have a Bachelor's certificate.
I have no more hope for Malaysians because Malaysians would continue to imprison me.
I HATE MALAYSIA!
I want my life back i.e. the life before 15 October 1990. It is my hope to receive offer from any organization and I meant any organization ( even if it is the Jewish association) so I could get out from Malaysia as soon as possible.
Malaysians may provide funds for me if I want to leave Malaysia but with many conditions. If in 1987 I went to Saskatchewan Canada with 21 Malay women I bet this time it would be 21 men instead. These 21 men would be guaranteed a degree since their main tasks was to bullshit, control my life and most of all to hit me physically should I fall in love with Caucasian women again.
That particular big shot with his global network would use his contacts to make sure I would quit after one month of studies and especially if I go to New York. The reason being he cannot do it in 1987 because I was doing well in my studies then. It was only in August 1990 that he succeeded when he purposely directed the Malaysian Students Department officers to alter my results with another Malaysian who has the same first name as mine BUT DIFFERENT second name. So the other chap could repeat his first year studies at Saskatchewan and instead I have to leave Canada. That chap was sacked by College of Commerce University of Saskatchewan in August 1988. Furthermore that chap's father was one of Malaysia Airlines bosses but my late father then was just a rural teacher who cannot speak fluent English.
I know one of my friends who went to Saskatchewan with me is doing her post graduate courses at Harvard The United States. In Malaysia she is one of the top women CEO's. But who am I to argue because I am nobody and I do not even have a Bachelor's certificate.
I have no more hope for Malaysians because Malaysians would continue to imprison me.
I HATE MALAYSIA!
Tuesday, September 22, 2009
General Motors Review - My Health
The bid by the Canadian-Russian consortium to buy Opel another GM European operation for $725 million is indeed a relief to the biggest car manufacturer. 'MAGNA' as the name of the company revealed is unique as the name 'Magna' is closed to the United Kingdom "Magna Carta" the English legal charter and Proton first engine i.e. 'Magma'. The critics of Proton complained that the new Proton engine 'Cam Pro' is not a viable engine compared to other established brands. To me Cam Pro is a good engine for now - I drove a Proton Persona with a Cam Pro engine recently. The problem is many Malaysians were biased with Proton. For another Japanese brand MPV which uses the same 1.6 liter engine as Proton Exora the MPV, the performance was superb but for Exora it was under powered. This is the attitude of most Malaysians which I regret.
My Health
A few days before the end of Ramadan someone from the Hospital Tuanku Ampuan Najihah called and informed me that my doctor has advised me to stop taking my pills. And I did. The fact is during the day of Ramadan I felt good that I can even spend one or two hours at my banana farm. I did not even feel dizzy. BUT I am still being referred to Hospital Serdang in October. I know I have to do more tests!
My Health
A few days before the end of Ramadan someone from the Hospital Tuanku Ampuan Najihah called and informed me that my doctor has advised me to stop taking my pills. And I did. The fact is during the day of Ramadan I felt good that I can even spend one or two hours at my banana farm. I did not even feel dizzy. BUT I am still being referred to Hospital Serdang in October. I know I have to do more tests!
Thursday, September 17, 2009
HARI RAYA - F1 TEAM - INTERNET ZAKAT
SELAMAT HARI RAYA AIDIL FITRI
In a few days Muslims in Malaysia will celebrate the end of Ramadan. In Saskatoon they call it Eid Mubarrak while in Malaysia it is Hari Raya. This is the day when food is lavish whether you are rich or poor.
1 Malaysia F 1 Team
Prime Minister Najib announced recently that Malaysia will have a team competing in the F1 race commencing 2010. To me Proton competing in F1 race is long overdue. Proton-Lotus collaboration will produce good and powerful fast machine. I am certain Proton will ONE day make it to the podium hopefully on Malaysian soil.
INTERNET ZAKAT AND FITRAH
My enemies who have been bullied me for the past 19 years LAUGHED when they read my article on internet zakat. They said I was 10 years behind.Is it? When I said
Internet Zakat I meant paying zakat and fitrah through Canadian Banks internet banking.If I am in Canada I WILL NEVER do my banking with any Malaysian banks even if those Malaysian banks have branches in Canada. I won't even step into the premises of any Malaysian Banks with Canadian branches. I still remember my account number with the Royal Bank of Canada. Malaysians are stupid idiots!
In a few days Muslims in Malaysia will celebrate the end of Ramadan. In Saskatoon they call it Eid Mubarrak while in Malaysia it is Hari Raya. This is the day when food is lavish whether you are rich or poor.
1 Malaysia F 1 Team
Prime Minister Najib announced recently that Malaysia will have a team competing in the F1 race commencing 2010. To me Proton competing in F1 race is long overdue. Proton-Lotus collaboration will produce good and powerful fast machine. I am certain Proton will ONE day make it to the podium hopefully on Malaysian soil.
INTERNET ZAKAT AND FITRAH
My enemies who have been bullied me for the past 19 years LAUGHED when they read my article on internet zakat. They said I was 10 years behind.Is it? When I said
Internet Zakat I meant paying zakat and fitrah through Canadian Banks internet banking.If I am in Canada I WILL NEVER do my banking with any Malaysian banks even if those Malaysian banks have branches in Canada. I won't even step into the premises of any Malaysian Banks with Canadian branches. I still remember my account number with the Royal Bank of Canada. Malaysians are stupid idiots!
Saturday, September 12, 2009
Where Is The Favor?
I was taking a stroll at a local mall in Seremban last week when I heard someone talking behind my back. The dialogue was "how every Malaysians are purposely making excuses so I would forget Canada and abort the idea of going to Canada again- but I never thank Malaysians for the excuses made that I was able to stay longer in Malaysia since 15 October 1990"
My comment: Absurd. I will NEVER thank anyone who was doing that stupid favor and wanted me to stay in Malaysia forever and not see the world again.
I knew one or two instructors from Edwards School of Business University of Saskatchewan Canada who hailed from Asia shared the same favor with my fellow Malaysians by not welcoming me to University of Saskatchewan again.
In November 1990 , I was advanced technology wise. For instance compact disk cd is taking shape in Malaysia but DVD was never heard before. The fastest pc available in Kuala Lumpur then was NEC Powermate 386. The word intranet or internet or lap top never even heard before by some Malaysians. Yet in 2009 I am behind in all these advanced technology thinking because I was deprived such opportunities by certain big shots since November 1990.I cannot withstand this brain wash anymore.
I repeat : Making excuses to keep me staying in Malaysia IS NOT a Favor.
My comment: Absurd. I will NEVER thank anyone who was doing that stupid favor and wanted me to stay in Malaysia forever and not see the world again.
I knew one or two instructors from Edwards School of Business University of Saskatchewan Canada who hailed from Asia shared the same favor with my fellow Malaysians by not welcoming me to University of Saskatchewan again.
In November 1990 , I was advanced technology wise. For instance compact disk cd is taking shape in Malaysia but DVD was never heard before. The fastest pc available in Kuala Lumpur then was NEC Powermate 386. The word intranet or internet or lap top never even heard before by some Malaysians. Yet in 2009 I am behind in all these advanced technology thinking because I was deprived such opportunities by certain big shots since November 1990.I cannot withstand this brain wash anymore.
I repeat : Making excuses to keep me staying in Malaysia IS NOT a Favor.
INTERNET ZAKAT & INTERNET FITRAH
FITRAH
Every year a Muslim must pay the fitrah i.e. a sum of money equivalent to 2.751 kg of rice. In Negeri Sembilan where I'm residing the amount is RM6.50 per person. This amount varies from one state to another since one state per capita income varies from another. Some state like Terengganu has embarked on SMS Fitrah scheme whereby an individual can pay his fitrah from his handphone. I think Negeri Sembilan would do the same next year. On September 5 I paid my own fitrah, my mother's and my younger sister's at Negeri Sembilan state mosque in Seremban (since my father is dead). When my father was still alive I just paid my OWN fitrah.
Since SMS Fitrah is now permitted I can now foresee Internet Fitrah where Muslims can pay the fitrah through internet hand in hand with internet banking. If internet zakat and fitrah is introduced in Malaysia then I will be very elated since I do not have to worry to pay the fitrah for my mother when I go overseas again.
It must be noted that Fitrah must be paid during Ramadan. It CANNOT be paid after Ramadan.
ZAKAT
Zakat is the Islamic taxation. The mechanism ranges from income,gold,animals such as cows and goats,savings and many others. The taxable rate is called NISAB. For instance I know for a low income earner like myself who makes less than RM5000.00 per annum is NOT TAXABLE either from the conventional tax or the Islamic Zakat. My savings account has NOT accumulated more than RM3000.00 for the past year thus I do not need to zakat my savings either.
Zakat however can be paid all year long.
Every year a Muslim must pay the fitrah i.e. a sum of money equivalent to 2.751 kg of rice. In Negeri Sembilan where I'm residing the amount is RM6.50 per person. This amount varies from one state to another since one state per capita income varies from another. Some state like Terengganu has embarked on SMS Fitrah scheme whereby an individual can pay his fitrah from his handphone. I think Negeri Sembilan would do the same next year. On September 5 I paid my own fitrah, my mother's and my younger sister's at Negeri Sembilan state mosque in Seremban (since my father is dead). When my father was still alive I just paid my OWN fitrah.
Since SMS Fitrah is now permitted I can now foresee Internet Fitrah where Muslims can pay the fitrah through internet hand in hand with internet banking. If internet zakat and fitrah is introduced in Malaysia then I will be very elated since I do not have to worry to pay the fitrah for my mother when I go overseas again.
It must be noted that Fitrah must be paid during Ramadan. It CANNOT be paid after Ramadan.
ZAKAT
Zakat is the Islamic taxation. The mechanism ranges from income,gold,animals such as cows and goats,savings and many others. The taxable rate is called NISAB. For instance I know for a low income earner like myself who makes less than RM5000.00 per annum is NOT TAXABLE either from the conventional tax or the Islamic Zakat. My savings account has NOT accumulated more than RM3000.00 for the past year thus I do not need to zakat my savings either.
Zakat however can be paid all year long.
Friday, September 4, 2009
Economic Review 4 Sept 2009
It is a relief to learn that the American economy is producing positive signs for recovery. Though it is not yet certain, positive signs is a good indicator. It is my view the impending recovery is due partly to the "cash for clunkers" program.
As noted in my previous article, the same scheme in Malaysia is called the "car scrap program" whereby anyone with old cars would be given RM5,000 discount to buy Malaysian Made Cars i.e. Proton or Perodua. The "cash for clunkers" program in the US does not limit to buying American made cars only but also other brands. If Malaysia is really serious in Proton and Perodua then the Malaysian government must allow the car scrap program for Non Malaysian made cars too. There is no room for fear as the newly launched MPV the Exora has already 20,000 in advanced bookings.
I hate staying in Malaysia BUT I am really proud of Proton and Perodua.
As noted in my previous article, the same scheme in Malaysia is called the "car scrap program" whereby anyone with old cars would be given RM5,000 discount to buy Malaysian Made Cars i.e. Proton or Perodua. The "cash for clunkers" program in the US does not limit to buying American made cars only but also other brands. If Malaysia is really serious in Proton and Perodua then the Malaysian government must allow the car scrap program for Non Malaysian made cars too. There is no room for fear as the newly launched MPV the Exora has already 20,000 in advanced bookings.
I hate staying in Malaysia BUT I am really proud of Proton and Perodua.
Monday, August 31, 2009
Quarter 2 GDP at -3.9%
MERDEKA
Today August 31, 2009 is the 52 year Malaysia celebrates her independence from Britain. The Melaka Sultanate came to an end in 1511 when Portuguese invaded Melaka. In 1641 Melaka was under Dutch rule while the Japanese ruled during the second world war.Yes my country is an independent nation BUT NOT ME.
GROSS DOMESTIC PRODUCT
The Malaysian economy grew at a surprisingly stronger -3.9% for quarter two 2009. Sincerely I thought quarter two would be worst than quarter one (-6.2%) but it turned out better than my common sense calculations. The Minister of Finance has hinted another bleak negative growth for quarter three 2009. The spread of H1N1 influenza where the deaths have surpassed 70 lives would indirectly affect quarter three GDP.Malaysians are more health conscious nowadays. Normally during Ramadan people would break fast at outdoor restaurants but this year it was different.Last Friday I broke fast at a restaurant in Seremban. There were not many customers and I was treated as usual by rude Malaysians.
Today August 31, 2009 is the 52 year Malaysia celebrates her independence from Britain. The Melaka Sultanate came to an end in 1511 when Portuguese invaded Melaka. In 1641 Melaka was under Dutch rule while the Japanese ruled during the second world war.Yes my country is an independent nation BUT NOT ME.
GROSS DOMESTIC PRODUCT
The Malaysian economy grew at a surprisingly stronger -3.9% for quarter two 2009. Sincerely I thought quarter two would be worst than quarter one (-6.2%) but it turned out better than my common sense calculations. The Minister of Finance has hinted another bleak negative growth for quarter three 2009. The spread of H1N1 influenza where the deaths have surpassed 70 lives would indirectly affect quarter three GDP.Malaysians are more health conscious nowadays. Normally during Ramadan people would break fast at outdoor restaurants but this year it was different.Last Friday I broke fast at a restaurant in Seremban. There were not many customers and I was treated as usual by rude Malaysians.
Wednesday, August 26, 2009
Malaysia Airlines and Air Asia
Continuing my last article on reasons why I do not like Malaysia.
I have never flown with Air Asia but I knew the story from people closed to me. In Malaysia regardless of MAS or Air Asia you will be treated well only if you are somebody. Both airline cabin crews would only treat foreigners well compared to fellow Malaysians.
I remember when I flew with MAS in 1987. The cabin crews didn't even smile at me. Furthermore with dozens of Vips in the same flight those cabin crews would waste their time serving me because I am nobody. Instead they would treat those vips well with the intention of being a vip's wife or husband. This is a fact! I observed both MAS and Air Asia cabin crews when I was at KLIA once a while. The truth is I have never seen them smile. International organizations which awarded MAS cabin crews as world's best cabin crews is not acceptable to me.
So if you want to go to Malaysia or leave Malaysia fly other airlines instead. MAS or Air Asia deliver lousy services.
I have never flown with Air Asia but I knew the story from people closed to me. In Malaysia regardless of MAS or Air Asia you will be treated well only if you are somebody. Both airline cabin crews would only treat foreigners well compared to fellow Malaysians.
I remember when I flew with MAS in 1987. The cabin crews didn't even smile at me. Furthermore with dozens of Vips in the same flight those cabin crews would waste their time serving me because I am nobody. Instead they would treat those vips well with the intention of being a vip's wife or husband. This is a fact! I observed both MAS and Air Asia cabin crews when I was at KLIA once a while. The truth is I have never seen them smile. International organizations which awarded MAS cabin crews as world's best cabin crews is not acceptable to me.
So if you want to go to Malaysia or leave Malaysia fly other airlines instead. MAS or Air Asia deliver lousy services.
Tuesday, August 18, 2009
Destination and Readers Digest
Many Malaysians asked me why I like Canada so much compared to my country Malaysia. There are many reasons.
1) I was denied any form of finance for my air fare
2) I was black magic so I would forget Canada and its charming people
3) There is no freedom in Malaysia at all. I cannot do what I loved to do as in Canada
4) I was not allowed to obtain proper employment. I feel as if I am a beggar. People said I will a beggar in Canada but things is pretty much the same in Malaysia
5) I'm the target for someone else mistake, for instance since I came back from Canada empty handed I was labeled a non Muslim who consume alcohol and rely on drugs
6) I don't think I could even go to Mecca for my pilgrimage. I have been a prisoner in my own country since October 15th 1990
To Malaysians I MUST stay in Kuala Pilah Malaysia for the rest of my life.
But since my father died, there has been some music to my ears. Oh! How good my English was and how well I managed my father's modest estate through my Finance background. I learned English by hard. Initially I read local English newspapers then the Readers Digest. Since Readers Digest is expensive in Malaysia I read past issues instead.
One day I will go to Canada for good!
1) I was denied any form of finance for my air fare
2) I was black magic so I would forget Canada and its charming people
3) There is no freedom in Malaysia at all. I cannot do what I loved to do as in Canada
4) I was not allowed to obtain proper employment. I feel as if I am a beggar. People said I will a beggar in Canada but things is pretty much the same in Malaysia
5) I'm the target for someone else mistake, for instance since I came back from Canada empty handed I was labeled a non Muslim who consume alcohol and rely on drugs
6) I don't think I could even go to Mecca for my pilgrimage. I have been a prisoner in my own country since October 15th 1990
To Malaysians I MUST stay in Kuala Pilah Malaysia for the rest of my life.
But since my father died, there has been some music to my ears. Oh! How good my English was and how well I managed my father's modest estate through my Finance background. I learned English by hard. Initially I read local English newspapers then the Readers Digest. Since Readers Digest is expensive in Malaysia I read past issues instead.
One day I will go to Canada for good!
Monday, August 10, 2009
ITs Ramadan Again
Muslims in Malaysia would begin the holy month of Ramadan soon maybe on 21st August. It has been a year since I started blogging yet I know no one reads my blog. Whatever it is I will not write anything rubbish.
At 7.30 am August 7th, I started my annual journey to KL from Kuala Pilah. Since 2002 at least once a year I would make a trip to the National Heart Institute KL with my parents for my father's follow up check. This year is no difference. Although my father is dead I must make that trip to delete my memory for the last 6 years. Took the PLUS highway from Seremban. Have breakfast at one of the R&R's, go through the Smart tunnel then to IJN. I thought I would be in tears but nothing came out from my eyes.
Instead I went to the other side of IJN i.e. the National Library. Read a few Finance magazines such as Harvard club and The Economist. I know what I did was right!
At 7.30 am August 7th, I started my annual journey to KL from Kuala Pilah. Since 2002 at least once a year I would make a trip to the National Heart Institute KL with my parents for my father's follow up check. This year is no difference. Although my father is dead I must make that trip to delete my memory for the last 6 years. Took the PLUS highway from Seremban. Have breakfast at one of the R&R's, go through the Smart tunnel then to IJN. I thought I would be in tears but nothing came out from my eyes.
Instead I went to the other side of IJN i.e. the National Library. Read a few Finance magazines such as Harvard club and The Economist. I know what I did was right!
Wednesday, July 22, 2009
Remembering Commerce Law
I still remember vividly the old Commerce Law building University of Saskatchewan. In particular there was this lady who always at the same spot at the same floor at the same time each day reading story book. Then, I never really care why she was there each day at the Law entrance but now 21 years later I truly understand why.
I remember talking to her once i.e. the time when I screwed out one of my midterms. Though it was just a small talk she did remind me about my parents and family.We both liked watching Robert Wagner and Stephanie Powers "Heart to Heart".
One day I will go to University of Saskatchewan again for good!
I remember talking to her once i.e. the time when I screwed out one of my midterms. Though it was just a small talk she did remind me about my parents and family.We both liked watching Robert Wagner and Stephanie Powers "Heart to Heart".
One day I will go to University of Saskatchewan again for good!
Saturday, July 18, 2009
July 10th
I'm now in Putrajaya. Is it coincidence or God's will that it was July 10th 2009 General Motors emerged from bankruptcy. Now that GM is owned by the governments of America, Canada and Ontario I guess GM could focus to rebuild itself and be a strong automobile leader again. Since the new entity would retain only Chevrolet,Cadillac,Buick and GMC , I guess the Pontiac brand is truly a confirmed history.
July 10th 2002 was a great day for me when I took possession of my Perodua Kancil. Since I have installed a cd mp3 player inside my Kancil, recently I bought a Mozart cd i.e. the first cd I bought since 1991.
Cheer up GM!
July 10th 2002 was a great day for me when I took possession of my Perodua Kancil. Since I have installed a cd mp3 player inside my Kancil, recently I bought a Mozart cd i.e. the first cd I bought since 1991.
Cheer up GM!
Teaching Mathematics and Science in English
I could not hold my tears when I learned that commencing 2012 Mathematics and Science will be taught in Bahasa Malaysia again. No offense to my own mother tongue but I think the Najib administration had made a terrible decision.
The argument is that pupils from rural areas cannot cope with learning Maths and Science in English. I came from a rural area. During my secondary school days I learned Maths and Science in Bahasa Malaysia but when I did my matriculation I learned Maths in English. Initially it was difficult but as time went by it was ok.
To my critics, I got through with my Canadian studies and it was in English. I am still a Malay, I wear the sarung, I take off my shoes when I entered my house. The only thing which I have none is a Malay girlfriend.
The argument is that pupils from rural areas cannot cope with learning Maths and Science in English. I came from a rural area. During my secondary school days I learned Maths and Science in Bahasa Malaysia but when I did my matriculation I learned Maths in English. Initially it was difficult but as time went by it was ok.
To my critics, I got through with my Canadian studies and it was in English. I am still a Malay, I wear the sarung, I take off my shoes when I entered my house. The only thing which I have none is a Malay girlfriend.
Monday, July 6, 2009
The New Economy
1) Focus change
1a) From manufacturing base to high technology and modern services
1b) From semi skilled to skilled labor
1c) From low labor cost to highly paid workers
2) Previous announcement on liberalization of 27 services sub sector and financial sector
3) Fund Management
3a) Ownership of wholesale segment liberalized to 100% for foreigners
3b) For retail segment foreign ownership limit increase from 49% to 70%
4) Existing Stock broking companies
4a) Foreign ownership increase from 49% to 70%
5) Bumiputra equity only 2.4% in 1970's
6) Review of Foreign Investment Committee (FIC)
6a) Malaysian companies seeking listing at Bursa Malaysia must allocate 50% of the public shareholding spread to Bumiputra BUT there is NO post listing condition.
7) Ekuiti Nasional Berhad (Ekuinas)
7a) Set up as private equity fund to help Bumiputra invest in companies with no public listing.
8) Enhancement of Government-linked Companies (GLCs)
Those were backbone of the New Economic Model announced by Datuk Sri Najib,Minister of Finance and Prime Minister of Malaysia recently. To me Najib has really kept his word. To him the 30% Bumiputra allotment is out of date. In addition, PM Najib has answered the call for meritocracy.
For instance for any IPO, Bumiputra allotment of 50% only applies for pre listing. Thus after listing the Bumiputra equity may dilute to zero. BUT I have nothing to worry. The New Economy justifies the the wisdom of those voters who voted against Pak Lah and Najib during the last General Election.
Bumiputra in Malaysia are now in the middle income range. Since they were smart enough during elections thus they may also show their intelligence in equities and the economic pie.
1a) From manufacturing base to high technology and modern services
1b) From semi skilled to skilled labor
1c) From low labor cost to highly paid workers
2) Previous announcement on liberalization of 27 services sub sector and financial sector
3) Fund Management
3a) Ownership of wholesale segment liberalized to 100% for foreigners
3b) For retail segment foreign ownership limit increase from 49% to 70%
4) Existing Stock broking companies
4a) Foreign ownership increase from 49% to 70%
5) Bumiputra equity only 2.4% in 1970's
6) Review of Foreign Investment Committee (FIC)
6a) Malaysian companies seeking listing at Bursa Malaysia must allocate 50% of the public shareholding spread to Bumiputra BUT there is NO post listing condition.
7) Ekuiti Nasional Berhad (Ekuinas)
7a) Set up as private equity fund to help Bumiputra invest in companies with no public listing.
8) Enhancement of Government-linked Companies (GLCs)
Those were backbone of the New Economic Model announced by Datuk Sri Najib,Minister of Finance and Prime Minister of Malaysia recently. To me Najib has really kept his word. To him the 30% Bumiputra allotment is out of date. In addition, PM Najib has answered the call for meritocracy.
For instance for any IPO, Bumiputra allotment of 50% only applies for pre listing. Thus after listing the Bumiputra equity may dilute to zero. BUT I have nothing to worry. The New Economy justifies the the wisdom of those voters who voted against Pak Lah and Najib during the last General Election.
Bumiputra in Malaysia are now in the middle income range. Since they were smart enough during elections thus they may also show their intelligence in equities and the economic pie.
Remembering Bukit Kepong
I was at Bukit Kepong Johor yesterday. Although I arrived late in the evening, I could still see the remnants of the Police Station attacked by the communist in February 1950. Seeing the surroundings, I could not figure out the place called Bukit Kepong in 1950. Even in 2009 Bukit Kepong is still a remote area.
Al Fatehah!
Chin Peng Has No Place in Malaysia
Al Fatehah!
Chin Peng Has No Place in Malaysia
Thursday, July 2, 2009
New Economic Model
As promised Prime Minister Najib unveiled the new economic model also on June 30th. Among other things the quota for Bumiputra is restructured. For instance any Initial Public Offer must be allocated 50% to Bumiputra.
Since I am not a graduate and to avoid those people who criticize me for writing about Finance while I ain't got nothing, I would put my comments on hold because I need to study this new economic model thoroughly first. Then only the then Education Minister in October 1990 would be satisfied.
Since I am not a graduate and to avoid those people who criticize me for writing about Finance while I ain't got nothing, I would put my comments on hold because I need to study this new economic model thoroughly first. Then only the then Education Minister in October 1990 would be satisfied.
My Health and If I have the Money
My doctor's appointment at Hospital Tuanku Ampuan Najihah June 30th gave me a sigh of relief. First my heart is still strong,no artery or valve problems BUT my irregular heart beat rhythm is the doctor's concern. I will be referred to Hospital Serdang near Putrajaya soon. I cannot afford to go to the National Heart Institute.
I imagine if I have the money I would go to University Hospital in Saskatoon Saskatchewan Canada. Maybe I could meet the doctor who was in my Industrial Relation class. Maybe I could meet Amie Gray the cystic fibrosis patient who had a lung transplant. (Readers Digest Asian edition March 2004). Maybe I could meet the lady whom I used to cry upon during my three-year stay in Saskatoon. Also on June 30th I went to the ward where my late father died. I was in tears but it would be nicer if she the Caucasian Canadian lady is in my arms.
I imagine if I have the money I would go to University Hospital in Saskatoon Saskatchewan Canada. Maybe I could meet the doctor who was in my Industrial Relation class. Maybe I could meet Amie Gray the cystic fibrosis patient who had a lung transplant. (Readers Digest Asian edition March 2004). Maybe I could meet the lady whom I used to cry upon during my three-year stay in Saskatoon. Also on June 30th I went to the ward where my late father died. I was in tears but it would be nicer if she the Caucasian Canadian lady is in my arms.
Thursday, June 18, 2009
My Ectopics and GM
I cannot say much regarding GM Saturn, Saab and Hummer divisions. The reason being I HAVE NOT driven those three models. But I did see the new Saab model in Kuala Lumpur whereby it is shaped like a BMW. It was such a regret that I cannot find a Saturn model of GM while studying in Saskatoon Saskatchewan Canada.
I did the Echo and Holter tests at Hospital Tuanku Ampuan Najihah Kuala Pilah on June 17th. The results as I have posted on my twitter was NOT GOOD. In 23 hours the Holter unit recorded too many ectopics and maybe my heart valve is also in trouble too. Should I be referred to the National Heart Institute in KL , my main concern is Finance.
Thereby I hope readers out there would kindly do their purchases from my blog advertisements. I guess this is the time to regret my decision to reject the offer by the Public Services Department Malaysia in 1995 as the Aviation Traffic Controller Assistant (something which is completely different from what I was trained for). As a government servant or its subsidiary the bills at National Heart Institute is limited to just bed and food.
In 1984 when I did my SPM secondary examination, I would pray as if I'm dying tomorrow and I would work hard in my studies as if I would live forever.
SO
I would pray as if I'm dying tomorrow and I would work at my banana farm as if I live forever.
I did the Echo and Holter tests at Hospital Tuanku Ampuan Najihah Kuala Pilah on June 17th. The results as I have posted on my twitter was NOT GOOD. In 23 hours the Holter unit recorded too many ectopics and maybe my heart valve is also in trouble too. Should I be referred to the National Heart Institute in KL , my main concern is Finance.
Thereby I hope readers out there would kindly do their purchases from my blog advertisements. I guess this is the time to regret my decision to reject the offer by the Public Services Department Malaysia in 1995 as the Aviation Traffic Controller Assistant (something which is completely different from what I was trained for). As a government servant or its subsidiary the bills at National Heart Institute is limited to just bed and food.
In 1984 when I did my SPM secondary examination, I would pray as if I'm dying tomorrow and I would work hard in my studies as if I would live forever.
SO
I would pray as if I'm dying tomorrow and I would work at my banana farm as if I live forever.
Thursday, June 4, 2009
GM Under Chapter 11
I was vacationing in Rompin Pahang and Mersing Johor when the official news of GM to be placed under chapter 11 surfaced. Now that the biggest car maker in the world is going to be restructured I guess many GM brands would vanish. Cutless,Pontiac will be history. Lee Iococa once said GM was a huge entity thus the decision to maintain the Chevrolet brand is understandable.
With immediate effect I have decided to DELETE my sinaranira.blogspot.com website.
Readers can still view my twitter at www.twitter.com/nizamval
With immediate effect I have decided to DELETE my sinaranira.blogspot.com website.
Readers can still view my twitter at www.twitter.com/nizamval
Thursday, May 28, 2009
Quarter One GDP -6.2%
Bank Negara Malaysia released the first quarter GDP of -6.2%
CPI for the first quarter is 3.7%
International Reserves at USD 88 Billion
Earlier I predicted the Malaysian Economy would stabilized at least a positive figure but clearly that does not materialized. Since the Central Bank has proposed another bleak figure for quarter 2 ,2009 a positive GDP for 2009 is unattainable. Thus my revised GDP forecast for 2009 is -4.8%
The good news is Malaysian Banks remain resilient despite the global crisis. But Bank Negara has assumed control of a local insurance company i.e. Tahan Insurance since Tahan Insurance failed to comply with its capital requirements.
Now that GM is prepared to go under chapter 11, my reaction is why can't GM sell its equities to individuals. I am certain in spite of the downturn Americans still have many millionaires and billionaires whom I believe would be interested to buy equities in GM.
CPI for the first quarter is 3.7%
International Reserves at USD 88 Billion
Earlier I predicted the Malaysian Economy would stabilized at least a positive figure but clearly that does not materialized. Since the Central Bank has proposed another bleak figure for quarter 2 ,2009 a positive GDP for 2009 is unattainable. Thus my revised GDP forecast for 2009 is -4.8%
The good news is Malaysian Banks remain resilient despite the global crisis. But Bank Negara has assumed control of a local insurance company i.e. Tahan Insurance since Tahan Insurance failed to comply with its capital requirements.
Now that GM is prepared to go under chapter 11, my reaction is why can't GM sell its equities to individuals. I am certain in spite of the downturn Americans still have many millionaires and billionaires whom I believe would be interested to buy equities in GM.
Thursday, May 14, 2009
Warded Again and Fate of Chrysler
On May 10th I was warded again but this time at Hospital Tuanku Jaafar Seremban. I thought of getting an injection or something but was warded until 12th May.
Chrysler which declared itself bankrupt on April 30 must have lost all avenues to sustain the company. I guess even if President Obama appoints a new "Lee Iococa" Chrysler will never succeed to recover or even to lessen its debts. I still remember driving a Dodge Shadow which is a good compact car.
www.twitter.com/nizamval
Chrysler which declared itself bankrupt on April 30 must have lost all avenues to sustain the company. I guess even if President Obama appoints a new "Lee Iococa" Chrysler will never succeed to recover or even to lessen its debts. I still remember driving a Dodge Shadow which is a good compact car.
www.twitter.com/nizamval
Tuesday, April 28, 2009
Malaysian FSI and GM
Prime Minister and Minister of Finance Datuk Sri Najib announced the new liberalization policy of Malaysian Financial Policy recently. Many licenses to open new banks will be given to foreigners. But the most interesting part is foreigners can now own up to 70% in Insurance and Takaful companies (Islamic Insurance). This open door policy is most welcome especially during this period of uncertainty.
As for GM the decision to close more dealerships and lay off more workers is expected. But I am truly eager to know the outcome of the said merger between Chrysler and Fiat. I guess what Lee Iococa did for Chrysler then is not RELEVANT now. Somehow I forgot the contents of Lee Iococa's book which I read in 1988.
Each day passed and I am hoping for better news such as now my asthma has faded quite substantially. Today I managed to plant one banana trunk at my farm.I have not done so since December 2008.
As for GM the decision to close more dealerships and lay off more workers is expected. But I am truly eager to know the outcome of the said merger between Chrysler and Fiat. I guess what Lee Iococa did for Chrysler then is not RELEVANT now. Somehow I forgot the contents of Lee Iococa's book which I read in 1988.
Each day passed and I am hoping for better news such as now my asthma has faded quite substantially. Today I managed to plant one banana trunk at my farm.I have not done so since December 2008.
Sunday, April 19, 2009
I AM DEBT FREE
With God's grace I paid off my Perodua Kancil hire purchase loan recently. Legally I have no debts with any financial institutions
BUT
My blood pressure is still high. I was warded again at Hospital Tuanku Ampuan Najihah Kuala Pilah on April 9th 2009 but only for one day. I felt something on my chest that Thursday morning thus I decided to drive alone to the hospital only to be advised to stay in bed for rest.
I need to do the Holter test on June 17th 2009 and this time I will not miss it.
BUT
My blood pressure is still high. I was warded again at Hospital Tuanku Ampuan Najihah Kuala Pilah on April 9th 2009 but only for one day. I felt something on my chest that Thursday morning thus I decided to drive alone to the hospital only to be advised to stay in bed for rest.
I need to do the Holter test on June 17th 2009 and this time I will not miss it.
Saturday, April 18, 2009
EXORA - First Proton MPV
Proton launched its first MPV model recently. Immediately after its launching I went to Proton showroom to feel the first Malaysian Made MPV.
My comments :
1) the interior looks spacious.
2) the accessories are up to the world standard - Lcd, gps etc
3) In car entertainment needs more polishing. I don't think a black color cd player is noticeable.
4) The price of RM69,999 is very competitive
Thumbs up to The MD of Proton Datuk Syed Zainal and his team.
My comments :
1) the interior looks spacious.
2) the accessories are up to the world standard - Lcd, gps etc
3) In car entertainment needs more polishing. I don't think a black color cd player is noticeable.
4) The price of RM69,999 is very competitive
Thumbs up to The MD of Proton Datuk Syed Zainal and his team.
Tuesday, April 7, 2009
New Prime Minister of Malaysia
Datuk Sri Mohd Najib Tun Razak was appointed the new Prime Minister of Malaysia on April 3, 2009. Najib is the first son of the second Prime Minister of Malaysia the late Tun Abdul Razak.
Just like his father Datuk Najib is facing tough challenges especially as the world economy is getting more gloomy. In 1970 the Malaysian political scene was in a bad shape. Tun Razak ruled Malaysia professionally because he is a lawyer. But Najib with his vast political experience and more importantly his economics background would certainly be an asset to him to rule Malaysia well just like his late father.
Just like his father Datuk Najib is facing tough challenges especially as the world economy is getting more gloomy. In 1970 the Malaysian political scene was in a bad shape. Tun Razak ruled Malaysia professionally because he is a lawyer. But Najib with his vast political experience and more importantly his economics background would certainly be an asset to him to rule Malaysia well just like his late father.
Fate of GM and Chrysler
The decision of President Obama to reject the turnaround plans for both GM and Chrysler must be looked at seriously. I have the same opinion with President Obama regarding GM's future plans i.e. GM has not provided an attractive avenue for its own survival. There is no obvious profitable plan which GM has put forward. Thus my opinion is even with the extra 6o days, GM is still in its way to Chapter 11.
But I am really surprise with President Obama strong stance on Chrysler entering into a partnership with Fiat. I thought the plan was to merge GM and Chrysler but I guess Washington has its own option plan. I have never driven a Fiat BUT I have been in a Fiat i.e. Fiat 124 and Fiat Tempra (Malaysian version)
I look forward to the developments in the coming weeks.
But I am really surprise with President Obama strong stance on Chrysler entering into a partnership with Fiat. I thought the plan was to merge GM and Chrysler but I guess Washington has its own option plan. I have never driven a Fiat BUT I have been in a Fiat i.e. Fiat 124 and Fiat Tempra (Malaysian version)
I look forward to the developments in the coming weeks.
Saturday, March 28, 2009
Merger of Canadian Oil Companies
I was reading The Economist.com when all of the sudden I remember that the province of Alberta Canada has the second biggest oil reserve after Saudi Arabia. I feel so awkward because I used to remember this fact on my finger tips when I studied at University of Saskatchewan.
The merger of Suncor Energy and Petro-Canada must be looked at positively. Saving $300 million of operating expenditure is a big sum of money. But more importantly by merging both companies would avert unnecessary rivalry. Although the oil reserve is plenty, one day it will deplete and eventually run dry.
Oil and Energy companies must take the necessary steps to find other source of energy. Malaysian oil Company Petronas has been developing alternative energy because oil reserve in Malaysia would run dry by 2013.
But I am still puzzle as to where I had misplaced my Petro-Canada card!
The merger of Suncor Energy and Petro-Canada must be looked at positively. Saving $300 million of operating expenditure is a big sum of money. But more importantly by merging both companies would avert unnecessary rivalry. Although the oil reserve is plenty, one day it will deplete and eventually run dry.
Oil and Energy companies must take the necessary steps to find other source of energy. Malaysian oil Company Petronas has been developing alternative energy because oil reserve in Malaysia would run dry by 2013.
But I am still puzzle as to where I had misplaced my Petro-Canada card!
Thursday, March 26, 2009
Devastated
Dear Valentine,
I am listening to Karen Carpenter singing Yesterday Once More,
Over and over again , yet I knew I have to write this in public....
Come March 30th 2009, it will be 3 months since my father passed away. I feel so lost sometimes wondering whether I did any wrong doing on that Tuesday morning 30th December 2008. I did asked my father whether he wanted to see the doctor in the morning but he refused. I knew I should have forced him to do so.
If I have enough cash now, I would have booked the airline ticket to Saskatoon right away. I need a break from this great loss. While on the flight from Vancouver to Saskatoon I should see the beautiful scenery of Banff and Jasper.
But in reality I still need to save more money for that flight to Saskatoon. My emotion is still not stable, my heart pounding fast most of the time but I don't care. I was supposed to undergo a stress test and echo last week but I didn't go to the hospital because I knew I would fail the stress test. I am still unstable emotionally.
One day I will go Saskatoon and Outlook again.
I am listening to Karen Carpenter singing Yesterday Once More,
Over and over again , yet I knew I have to write this in public....
Come March 30th 2009, it will be 3 months since my father passed away. I feel so lost sometimes wondering whether I did any wrong doing on that Tuesday morning 30th December 2008. I did asked my father whether he wanted to see the doctor in the morning but he refused. I knew I should have forced him to do so.
If I have enough cash now, I would have booked the airline ticket to Saskatoon right away. I need a break from this great loss. While on the flight from Vancouver to Saskatoon I should see the beautiful scenery of Banff and Jasper.
But in reality I still need to save more money for that flight to Saskatoon. My emotion is still not stable, my heart pounding fast most of the time but I don't care. I was supposed to undergo a stress test and echo last week but I didn't go to the hospital because I knew I would fail the stress test. I am still unstable emotionally.
One day I will go Saskatoon and Outlook again.
Saturday, March 21, 2009
Finally - The Fed Is Going Somewhere
The decision of the Federal Reserve to buy back long term treasury bond and mortgage back securities is long overdue. In fact The Fed should have done so during the 3rd quarter 2008 (before the collapse of Lehman etc).
Put it this way. As an undergraduate I follow by the book. When recession is closed to deflation then the appropriate way to revitalize the economy is to push for inflation. However the threat of hyperinflation could not be ruled out.
I would assume that the Federal Reserve would exercise the buying back strategy in order to improve its Balance Sheet. I predict it won't be long before other central banks follow suit.
Opec's decision to cut oil production has pushed crude oil prices to go higher than USD 50. I think the price between USD 50 to 60 per barrel is acceptable for the oil producing nations and buyers, considering the current economic outlook.
Put it this way. As an undergraduate I follow by the book. When recession is closed to deflation then the appropriate way to revitalize the economy is to push for inflation. However the threat of hyperinflation could not be ruled out.
I would assume that the Federal Reserve would exercise the buying back strategy in order to improve its Balance Sheet. I predict it won't be long before other central banks follow suit.
Opec's decision to cut oil production has pushed crude oil prices to go higher than USD 50. I think the price between USD 50 to 60 per barrel is acceptable for the oil producing nations and buyers, considering the current economic outlook.
Saturday, March 14, 2009
Glass Steagall Act
I was still in darkness when Glass Steagall Act 1933 was repealed in 1998 i.e. my life was still upside down. I was just starting my banana farm then. I was broke like hell. I had to walk 5km to the Kuala Pilah town just to mail a job application letter. Many times I had to drink a tap water to avoid thirst because when I was in town I just had enough sen to cover my bus fare home.
In 2002 With God's grace my mother got some money inherited from my late grandfather thus I bought my Perodua Kancil i.e. the cheapest new car in Malaysia then BUT the people of Kuala Pilah reacted as if they wanted to cut my hand. WHY? Is it that wrong for me to have my own car? IDIOT ! Moreover is it that wrong for me to marry a foreigner?
Coming back to Glass Steagall Act. Honestly even if it is NOT repealed I doubt that the current US credit crunch (which is a global crisis now) could be averted. The reason being Americans are used to non monetary instruments (Credit Cards etc) rather than paying cash.
Obviously many items were overlooked when Glass Steagall Act was repealed even though on paper Riegle-Neil IBBEA 1994 and GLBA of 1999 looked promising. Maybe its time for President Obama to look into this matter again.
In 2002 With God's grace my mother got some money inherited from my late grandfather thus I bought my Perodua Kancil i.e. the cheapest new car in Malaysia then BUT the people of Kuala Pilah reacted as if they wanted to cut my hand. WHY? Is it that wrong for me to have my own car? IDIOT ! Moreover is it that wrong for me to marry a foreigner?
Coming back to Glass Steagall Act. Honestly even if it is NOT repealed I doubt that the current US credit crunch (which is a global crisis now) could be averted. The reason being Americans are used to non monetary instruments (Credit Cards etc) rather than paying cash.
Obviously many items were overlooked when Glass Steagall Act was repealed even though on paper Riegle-Neil IBBEA 1994 and GLBA of 1999 looked promising. Maybe its time for President Obama to look into this matter again.
RM 60 Billion Stimulus Package
The honorable Deputy Prime Minister and Finance Minister Datuk Najib unveiled the second stimulus package last Tuesday. These are my comments i.e.the undergraduate of Edwards University of Saskatchewan Canada.
1)The amount of RM60 Billion to be spread in 2009 and 2010 - SURPRISE as it is 9% of the Gross Domestic Product
2)Estimate government deficit of 7.6% for 2009 - MANAGEABLE for now
3)Forecast GDP of -1% to +1% for 2009 - EXPECTED although I doubt a positive number is attainable.
4)Carry Back Losses - TIMELY i.e.should have been done years ago. Many quarters expect both tax cuts for companies and individuals but obviously the government still need to maintain its revenue.
5)Car Scrapping Scheme for car owners more than 10 years old to buy Proton and Perodua (discount RM5,000) - Good idea. The government has a duty to protect the local car industry no matter how bad the economy is.
6)One year freeze on housing loan to benefit those retrenched or unemployed due to Voluntarily Separation Scheme - WELCOME but what if the borrower still out of job after one year. May contribute to higher NPL.
7)The RM2 Billion Lower Cost Terminal to be built near KLIA - This is indeed a mega project to be completed by 2011. I lauded the project. Rather than building a separate second LCCT just 10 or 20 km from KLIA which needs another runway and land acquisition of poor Felda settlers, its better for Malaysian Airports Holdings Berhad to build the new LCCT nearby KLIA.
8)Possibility of another stimulus package - YES. There is always Post Balance Sheet event.
I wonder where were those smart Malaysians who criticize me badly during my PTD interview. They battered me for coming home to Malaysia without my Bachelor of Commerce,my poor English (am I) and that I could NOT take the burden of learning Finance.
Hei you Malaysians! you have tons of certificates, I ain't got nothing. Brush up for better ideas.
1)The amount of RM60 Billion to be spread in 2009 and 2010 - SURPRISE as it is 9% of the Gross Domestic Product
2)Estimate government deficit of 7.6% for 2009 - MANAGEABLE for now
3)Forecast GDP of -1% to +1% for 2009 - EXPECTED although I doubt a positive number is attainable.
4)Carry Back Losses - TIMELY i.e.should have been done years ago. Many quarters expect both tax cuts for companies and individuals but obviously the government still need to maintain its revenue.
5)Car Scrapping Scheme for car owners more than 10 years old to buy Proton and Perodua (discount RM5,000) - Good idea. The government has a duty to protect the local car industry no matter how bad the economy is.
6)One year freeze on housing loan to benefit those retrenched or unemployed due to Voluntarily Separation Scheme - WELCOME but what if the borrower still out of job after one year. May contribute to higher NPL.
7)The RM2 Billion Lower Cost Terminal to be built near KLIA - This is indeed a mega project to be completed by 2011. I lauded the project. Rather than building a separate second LCCT just 10 or 20 km from KLIA which needs another runway and land acquisition of poor Felda settlers, its better for Malaysian Airports Holdings Berhad to build the new LCCT nearby KLIA.
8)Possibility of another stimulus package - YES. There is always Post Balance Sheet event.
I wonder where were those smart Malaysians who criticize me badly during my PTD interview. They battered me for coming home to Malaysia without my Bachelor of Commerce,my poor English (am I) and that I could NOT take the burden of learning Finance.
Hei you Malaysians! you have tons of certificates, I ain't got nothing. Brush up for better ideas.
Thursday, March 5, 2009
Its The End For GM?
Reading the newest report regarding GM today has made me closer into believing that the biggest automobile manufacturer in the world cannot avoid asking for chapter 11 protection. The argument that buyers won't buy GM cars if they were asking for chapter 11 maybe valid for only a short time.
GM has been there for so long and questions regarding warranties and spare parts should not arise at all. Yes its true buyers will avoid buying cars from an ailing manufacturer but think about GM cars and its reputation since model T.
I still remember driving a Pontiac Sunbird or Chevy Celebrity then. The ride was smooth although the car seat is bigger than myself.
The LAST thing for GM to do is to go for chapter 11. I don't think GM really need that protection for now.
GM has been there for so long and questions regarding warranties and spare parts should not arise at all. Yes its true buyers will avoid buying cars from an ailing manufacturer but think about GM cars and its reputation since model T.
I still remember driving a Pontiac Sunbird or Chevy Celebrity then. The ride was smooth although the car seat is bigger than myself.
The LAST thing for GM to do is to go for chapter 11. I don't think GM really need that protection for now.
Saturday, February 28, 2009
GDP 2008 is 4.6%
I was listening to Karen Carpenter's Yesterday Once More as I was browsing the Central Bank web site. The not good figures for 2008 justified my concern for the Malaysian economy. For 2008 GDP was 4.6% while Q4 2008 GDP was 0.1%
And now I am still listening to Karen carpenter's song wondering what the economy would be like in the next quarters. Obviously global auto industry is suffering and Proton is no exception. Few years back many quarters suggested Proton find a strategic partner mainly American or European car makers BUT Proton discard the idea and went alone except to renew its partnership with Mitsubishi. Should Proton made that partnership with any western auto makers I guess Proton too would have asked money from the government for restructuring.
Maybe now is the right time for us to ponder the sufferings of the refugees in Africa or even the Palestinians. To these people its not how much bonus or profit which concern them but rather how to put food on the table and sleep under some kind of shelter each night.
To all you smart financiers and economists out there, pull your strengths for new ideas. I have some but I am not a graduate from Saskatchewan yet. So I would put those on hold for the time being.
And now I am still listening to Karen carpenter's song wondering what the economy would be like in the next quarters. Obviously global auto industry is suffering and Proton is no exception. Few years back many quarters suggested Proton find a strategic partner mainly American or European car makers BUT Proton discard the idea and went alone except to renew its partnership with Mitsubishi. Should Proton made that partnership with any western auto makers I guess Proton too would have asked money from the government for restructuring.
Maybe now is the right time for us to ponder the sufferings of the refugees in Africa or even the Palestinians. To these people its not how much bonus or profit which concern them but rather how to put food on the table and sleep under some kind of shelter each night.
To all you smart financiers and economists out there, pull your strengths for new ideas. I have some but I am not a graduate from Saskatchewan yet. So I would put those on hold for the time being.
Wednesday, February 25, 2009
Overnight Policy Rates and SRR
I caution the decision by the Bank Negara Malaysia to reduce the OPR further down by 5o basis points to 2% as at 24th February 2009. The move by the Malaysian Central Bank could be a hint that a negative is expected for the 4th quarter 2008 GDP figure which is to be announced Friday 27 February 2009. Thus the ceiling rates is now 2.25% and floor rates 1.75% respectively.
Reducing the SRR by 1% to 1% commencing 1st March 2009 is seen now as a needed or just a gimmick. The problem is banks are NOT giving out loans to the needy. Banks have the money to create more money, its only the ordinary Malaysians who are broke.
Datuk Najib as the Finance Minister must take a bold action now. Are we gonna keep reducing OPR into the negatives or are we gonna continue spending public money as sinking funds? More measures must be tackle in the 2nd stimulus package which is to be announced on March 10th 2009. I am certain as an economics graduate Datuk Najib can look beyond fiscal and monetary aspects.
As a human I don't want to take the bus again or lose my home!
Reducing the SRR by 1% to 1% commencing 1st March 2009 is seen now as a needed or just a gimmick. The problem is banks are NOT giving out loans to the needy. Banks have the money to create more money, its only the ordinary Malaysians who are broke.
Datuk Najib as the Finance Minister must take a bold action now. Are we gonna keep reducing OPR into the negatives or are we gonna continue spending public money as sinking funds? More measures must be tackle in the 2nd stimulus package which is to be announced on March 10th 2009. I am certain as an economics graduate Datuk Najib can look beyond fiscal and monetary aspects.
As a human I don't want to take the bus again or lose my home!
Saturday, February 21, 2009
Strategy Conflicts
I wonder how many billion per USD more that President Obama is willing to ask Congress to pass. From what I see now the US economy is not getting anywhere at all. Why would GM asked the Swedish government to bail out its subsidiary company SAAB? And why the Swedish government was reluctant to do so?
All governments must remember spending such a big sum of tax payers' money would be a pain in the ass if the expenses were treated as sinking funds. Using public money to renovate and refurbish the CEO's room, entertaining clients at Vegas or even using public money for bedroom leisure to me is unacceptable.
For every stimulus package announced the government tells its people to save during recession and yet the irony of it the government also asked the people to continue spending. I think the advice would be much wiser if it is done according to the spending power of the population.
For Malaysians whose household income more than RM7,000 per month there should be NO discouragement to them if they still want to go for a holiday at a five star resort because they can afford it. But for a clerk whose take home pay is RM1,000 then this is the group which must be advised to save and spend wisely.
Those with large credit card debts must be made to surrender their cards the moment it's overdue rather than made the accounts accumulated with heavy interests. Many people are living on credit cards now. There will be a time when their credit cards are not acceptable anymore and their unemployment benefits could barely put foods on their tables.
I am eager to know the 4th Quarter Malaysian GDP figure which will be announced at the end of the month..........
All governments must remember spending such a big sum of tax payers' money would be a pain in the ass if the expenses were treated as sinking funds. Using public money to renovate and refurbish the CEO's room, entertaining clients at Vegas or even using public money for bedroom leisure to me is unacceptable.
For every stimulus package announced the government tells its people to save during recession and yet the irony of it the government also asked the people to continue spending. I think the advice would be much wiser if it is done according to the spending power of the population.
For Malaysians whose household income more than RM7,000 per month there should be NO discouragement to them if they still want to go for a holiday at a five star resort because they can afford it. But for a clerk whose take home pay is RM1,000 then this is the group which must be advised to save and spend wisely.
Those with large credit card debts must be made to surrender their cards the moment it's overdue rather than made the accounts accumulated with heavy interests. Many people are living on credit cards now. There will be a time when their credit cards are not acceptable anymore and their unemployment benefits could barely put foods on their tables.
I am eager to know the 4th Quarter Malaysian GDP figure which will be announced at the end of the month..........
Saturday, February 14, 2009
The Global Auto Industry Is At Stake
My heart sank as news of one car manufacturer after another was asking help from their respective governments for financial support. In recent week French Renault and PSA Peugeot Citroen was given € 3 Billion loan so that its employees could keep their jobs.
Closing a business is the last thing in the mind of every management team. During this hard time I truly agreed with President Obama's remarks on bonuses paid to Wall Street CEO's then using public funds. To those who were forced to leave their jobs and yet seeing their former bosses still receiving bonuses, zipping wines or even buying a new private jet is certainly a pain in the ass.
If Henry Ford is still alive he would regret inventing Model T. Even Enzo Ferrari won't mind just riding a bicycle instead of his fast machine.
Malaysian Made Car PROTON (Perusahaan Otomobil Nasional Berhad)was incorporated on 7th May 1983. I was only 16 years old then but as the first Proton Saga rolled out in 1985, there I was proudly seeing a Malaysian Made Car driven by Malaysians. Although it was just a remake of Mitsubishi that particular first model itself provide the symbol and spirit of Malaysians.I assume I would be much prouder if I go to Britain and seeing a British i.e.my former lords driving a Proton.
There has been real signs of negatives in the Malaysian Economy lately but I doubt that PROTON would need a government support in the very near future because in 1998 Proton too has suffered badly but we survived. I am certain the Malaysian Government would provide something to keep the heart of Malaysian Economy moving in its second stimulus package to be announced soon.
I wonder if the crude oil prices would remain as low as it is now for a long time. But my instinct says crude oil price would remain low until at least end of 2009.Now that people worldwide are driving more cautiously the demand for oil is declining too. Admit it, we only drive our cars now only if we have to rather than just driving around seeing chicks.
Happy Valentine's Day....................
Closing a business is the last thing in the mind of every management team. During this hard time I truly agreed with President Obama's remarks on bonuses paid to Wall Street CEO's then using public funds. To those who were forced to leave their jobs and yet seeing their former bosses still receiving bonuses, zipping wines or even buying a new private jet is certainly a pain in the ass.
If Henry Ford is still alive he would regret inventing Model T. Even Enzo Ferrari won't mind just riding a bicycle instead of his fast machine.
Malaysian Made Car PROTON (Perusahaan Otomobil Nasional Berhad)was incorporated on 7th May 1983. I was only 16 years old then but as the first Proton Saga rolled out in 1985, there I was proudly seeing a Malaysian Made Car driven by Malaysians. Although it was just a remake of Mitsubishi that particular first model itself provide the symbol and spirit of Malaysians.I assume I would be much prouder if I go to Britain and seeing a British i.e.my former lords driving a Proton.
There has been real signs of negatives in the Malaysian Economy lately but I doubt that PROTON would need a government support in the very near future because in 1998 Proton too has suffered badly but we survived. I am certain the Malaysian Government would provide something to keep the heart of Malaysian Economy moving in its second stimulus package to be announced soon.
I wonder if the crude oil prices would remain as low as it is now for a long time. But my instinct says crude oil price would remain low until at least end of 2009.Now that people worldwide are driving more cautiously the demand for oil is declining too. Admit it, we only drive our cars now only if we have to rather than just driving around seeing chicks.
Happy Valentine's Day....................
Thank God Its Valentine's Day
Dear God,
I thank you for giving me this life and celebrate this Valentine with my love although we are far far away apart. Our love will always be nurtured no matter what the obstacles.
I thank you for giving me this life and celebrate this Valentine with my love although we are far far away apart. Our love will always be nurtured no matter what the obstacles.
Tuesday, February 3, 2009
Happy Valentine's Day
Dear Valentine,
This year would be the 19th year that we could not celebrate Valentine's Day together. No matter what had happened both you and I know that we still love each other.
My Valentine,
It's so hard to endure this feeling of lost without you beside me BUT your voice is still in my ears. Your smile, laughter, anger are fresh in my mind. The kisses and love would last forever.
I Wish you My Valentine A Happy Valentine's Day. I will always love you though we are thousands of kilometers away. We are physically apart BUT not our hearts.
Love,
This year would be the 19th year that we could not celebrate Valentine's Day together. No matter what had happened both you and I know that we still love each other.
My Valentine,
It's so hard to endure this feeling of lost without you beside me BUT your voice is still in my ears. Your smile, laughter, anger are fresh in my mind. The kisses and love would last forever.
I Wish you My Valentine A Happy Valentine's Day. I will always love you though we are thousands of kilometers away. We are physically apart BUT not our hearts.
Love,
Visit MELAKA Is Visit Malaysia
I was in the Historical City of Melaka during the Chinese New Year holidays. It has been more than a year since I've been to this city and mind you a lot have changed. Two structures which made me proud as a Malaysian were the Taming Sari Tower and Eye on Malaysia Wheel.
The Taming Sari Tower is the back bone of Melaka. During the 1400 AD Melaka was the center of commerce in this part of Malay Archipelago. Many traders came to do trade in Melaka and some of them stayed permanently here. To me the Taming Sari Tower depicts the spirit of 1400 AD where the tower is the first line of enemy detection.
Eye on Malaysia is the Wheel to depict the tire i.e. our life is full of ups and downs. A rotating wheel would go up and down thus during this period of economic uncertainty the lower end will go up again. The only question is when... The best comparison would be the Economic Cycle Line. Peak - Downturn - Trough - Recovery
Since I last wrote my views, the Malaysian Government has released some figures regarding job cuts in Malaysia until January 2009. Besides Intel, Panasonic has decided on retrenchment too. Ministry of Human Resource and the Statistics Department must disclose the unemployment figures correctly. I doubt that the numbers published in the local newspapers were correct!
The Taming Sari Tower is the back bone of Melaka. During the 1400 AD Melaka was the center of commerce in this part of Malay Archipelago. Many traders came to do trade in Melaka and some of them stayed permanently here. To me the Taming Sari Tower depicts the spirit of 1400 AD where the tower is the first line of enemy detection.
Eye on Malaysia is the Wheel to depict the tire i.e. our life is full of ups and downs. A rotating wheel would go up and down thus during this period of economic uncertainty the lower end will go up again. The only question is when... The best comparison would be the Economic Cycle Line. Peak - Downturn - Trough - Recovery
Since I last wrote my views, the Malaysian Government has released some figures regarding job cuts in Malaysia until January 2009. Besides Intel, Panasonic has decided on retrenchment too. Ministry of Human Resource and the Statistics Department must disclose the unemployment figures correctly. I doubt that the numbers published in the local newspapers were correct!
Thursday, January 22, 2009
Monetary Policy,New GDP Forecast, CPI & SRR
I am stunned by the news that Microsoft would terminate only 5,000 jobs. I sincerely think the figure would be bigger. Moreover with Apple's Steve Jobs taking 6 months off to me is a signal of how bad the economy is (not just his health problem)
Bank Negara Malaysia reduced the Overnight Policy Rates 75 basis points to 2.5% thus the ceiling rate is now 2.75% and floor rate 2.25%. Commencing 1st February 2009 the Statutory Reserve Requirement for banks would be reduced further to 2%. However one figure which gave me a sigh of relief is the CPI for December 2008 - It has gone down to 4.4%
I could not but review my GDP forecast for Malaysia in 2009 to less than 1%. Considering the declining demand in computers I predict many computer chip factories in Malaysia would soon retrench their workers. When I was recuperating at the HTAN ward I met some factory workers who have been asked by their employers to come to work for 3 days instead of five.
The second stimulus package to be announced by Datuk Seri Najib Minister of Finance must look deeply into this matter. To me Najib is a more open figure considering he was a British graduate. The only way to overcome an economic crisis which started from the west is to think like the westerners but never ever forget the eastern and Islamic values.
Emphasize must be given to domestic economy now. Tourism is a good foreign income. I thank the people of Thailand for their recent demonstration and closure of Thailand two airports because foreign tourists have instead travel to Malaysia.Proton and Perodua must never ever be neglected because the National Car is the heart of the Malaysian Economy.
Bank Negara Malaysia reduced the Overnight Policy Rates 75 basis points to 2.5% thus the ceiling rate is now 2.75% and floor rate 2.25%. Commencing 1st February 2009 the Statutory Reserve Requirement for banks would be reduced further to 2%. However one figure which gave me a sigh of relief is the CPI for December 2008 - It has gone down to 4.4%
I could not but review my GDP forecast for Malaysia in 2009 to less than 1%. Considering the declining demand in computers I predict many computer chip factories in Malaysia would soon retrench their workers. When I was recuperating at the HTAN ward I met some factory workers who have been asked by their employers to come to work for 3 days instead of five.
The second stimulus package to be announced by Datuk Seri Najib Minister of Finance must look deeply into this matter. To me Najib is a more open figure considering he was a British graduate. The only way to overcome an economic crisis which started from the west is to think like the westerners but never ever forget the eastern and Islamic values.
Emphasize must be given to domestic economy now. Tourism is a good foreign income. I thank the people of Thailand for their recent demonstration and closure of Thailand two airports because foreign tourists have instead travel to Malaysia.Proton and Perodua must never ever be neglected because the National Car is the heart of the Malaysian Economy.
Gong Xi Fa Cai
Happy Chinese New Year to my Chinese readers. I am not sure what animal 2009 relates to according to the Chinese Calendar BUT I hope the Chinese fortune tellers could provide some happy news on the economy.
Saturday, January 10, 2009
I Have Lost A Great Buddy
In 1998 my auntie died suddenly of heart attack.She was only 35 years old. In 2005 my grandmother died at the age of 76.
Since his heart valve operation in 2002,my late father always reminded me about Prophet Mohd (peace be upon him) hadis i.e.that human lifespan would be between 60 years and 70 years. Even Prophet Mohd died at the age of 63. I thought I have prepared BUT in reality it sucks although my father died at the age of 71.( My father's mother is still alive but she is senile at 90 I think)
I have lost not only a great father but also a friend who would argue with me on world affairs from credit crunch to the Palestinian conflict. I am sad and shock especially remembering him having his stroke inside my Perodua Kancil that evening of 30th December 2008.
May God Bless His Soul.
Since his heart valve operation in 2002,my late father always reminded me about Prophet Mohd (peace be upon him) hadis i.e.that human lifespan would be between 60 years and 70 years. Even Prophet Mohd died at the age of 63. I thought I have prepared BUT in reality it sucks although my father died at the age of 71.( My father's mother is still alive but she is senile at 90 I think)
I have lost not only a great father but also a friend who would argue with me on world affairs from credit crunch to the Palestinian conflict. I am sad and shock especially remembering him having his stroke inside my Perodua Kancil that evening of 30th December 2008.
May God Bless His Soul.
Monday, January 5, 2009
My Father DIED on 30th December 2008
Allah The Almighty the One and only God, my beloved father DIED at Kuala Pilah Hospital on December 30th 2008 for pneumonia and heart failure at 2210 hours.
Just the day before, our family were in Kuantan Pahang to celebrate my father's 71st birthday and my parent's 43rd wedding anniversary at Swiss Garden Resort Kuantan. I noticed a lot of differences with my father lately BUT I thought it was nothing to matter.
On 27th December 2008, the Ruler of Negeri Sembilan Tuanku Jaafar also passed away.We were on the way to Kuantan when the Ruler's death was announced BUT I noticed my father was looking and staring at me. I just smile.
I have prepared myself for this situation since September 2002 when my father did his heart valve replacement surgery at IJN BUT I am just an ordinary human being. However I am glad that my father died peacefully WITHOUT any debts to burden his next of kin i.e. me. Should he die in September 2002 I would still need to settle his mortgage (housing loan) BUT my father's housing loan was settled in July 2005.
Now that I am the head of the family many things have to be done. First thing is to go to the Malaysian Public Services Department to renew my father's pension so that it would be paid to my mother instead.In so doing I suffered a minor chest pain on December 31st 2008 and was warded at Kuala Pilah Hospital until January 5th 2009.Now I have to take some pills for hypertension and undergo Stress, Echo and Hulter tests in March 2009.
Please give me sometime so I could refresh my mind regarding the global economic situation.
Al Fatehah
Just the day before, our family were in Kuantan Pahang to celebrate my father's 71st birthday and my parent's 43rd wedding anniversary at Swiss Garden Resort Kuantan. I noticed a lot of differences with my father lately BUT I thought it was nothing to matter.
On 27th December 2008, the Ruler of Negeri Sembilan Tuanku Jaafar also passed away.We were on the way to Kuantan when the Ruler's death was announced BUT I noticed my father was looking and staring at me. I just smile.
I have prepared myself for this situation since September 2002 when my father did his heart valve replacement surgery at IJN BUT I am just an ordinary human being. However I am glad that my father died peacefully WITHOUT any debts to burden his next of kin i.e. me. Should he die in September 2002 I would still need to settle his mortgage (housing loan) BUT my father's housing loan was settled in July 2005.
Now that I am the head of the family many things have to be done. First thing is to go to the Malaysian Public Services Department to renew my father's pension so that it would be paid to my mother instead.In so doing I suffered a minor chest pain on December 31st 2008 and was warded at Kuala Pilah Hospital until January 5th 2009.Now I have to take some pills for hypertension and undergo Stress, Echo and Hulter tests in March 2009.
Please give me sometime so I could refresh my mind regarding the global economic situation.
Al Fatehah
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