MALAYSIAN GAS PRICES AS AT 18th NOVEMBER 2008

The Malaysian Government has reduced again the price of gas by 15 sen. Now

Ron 97 is RM2 per litre
Ron 92 is Rm1.90 per litre
Diesel is RM1.90 per litre

The trend of crude oil prices to keep on decreasing has prompted Pak Lah to initiate the move for a floor price of gas in Malaysia. Even at RM 2 per litre for the Ron 97 Malaysians are still being subsidized by 30 sen.

Although oil exporting nation like Malaysia is heading for a shrink in oil income, the Government should take that bold move to remove gas subsidies altogether in Malaysia.Maybe it would be hard to swallow (even for me to pay gas at RM3 per litre should world crude oil prices increase again). Nonetheless economic well being of young Malaysians must be considered too.The ceiling price is RM2.70 per litre for Ron 97.

I LOOK forward to the announcement of Malaysian Gas Floor Prices!!!

AMERICAN EXPRESS - Bank Holding Company

Federal Reserve has given American Express the right to function as a bank holding company. To me it was a long wait. I remember when I was in Canada (from 18 August 1987 to 28 May 1989 AND from August 21st 1989 to 13 October 1990) University of Saskatchewan students always receive a pre approved AMEX application form in The Sheaf(University of Saskatchewan newsletter). But I never ever fill in that AMEX form. Maybe then AMEX was just a charge card and I am not a Canadian.

I also wonder why a corporation like American Express never really a Bank. In Malaysia we have a company MBF which issue Visa and Master Cards but MBF is not a bank.Since the abolition of Glass Steagall Act 1933 and the formation of IBBEA 1994 and GLBA 1999 we know American banks were very much deregulated. Is deregulation of banks the culprit to the existing American credit crisis beside the securitization of mortgages? We know AMEX would not give out mortgages per se. My guess is that Bush Administration require a boost in Christmas shoppings thereby make the US economy move again. But everybody knows Christmas 2008 will not be a good festive season.My only HOPE is American Express would NOT turn to Chapter 11 that very soon.

Malaysian Gas Prices As At 1st NOVEMBER 2008

Pak Lah Government has reacted. Gas prices in Malaysia was down again by 15 sen as at 1st November 2008. Now

Ron 97 is RM2.15 per litre
Ron 92 is RM2.05 per litre
Diesel is now RM2.05 per litre

The rebate of RM625 given to every car owner will continue until March 2009 when a new scheme will be implemented.

FINANCE - My Field of Study

I cannot understand why some people said I was forced back to Malaysia in October 1990 because I cannot do engineering courses.Surprise! I do ! When did I take up engineering?....although my physics is quite strong.
The currency crisis 1997 has been a bless to me because since my car crash December 2nd 1990 my mind was brain washed to FORGET EVERYTHING about Canada.BUT I still remember my basics. Whether to peg or de peg a currency, forward market, futures, Options and Swaps.Maybe I did not do well in my Intermediate Managerial Accounting BUT it was just one or two courses. The reason I chose to specialize in Finance was Black Monday crash 1987. I remember on that day and the day after most of my seniors were freaking out and passed out drunk because of the TSE (now TSX)index fell sharply. I never thought that stock market crash would destabilise an economy in such a way. Why does the market passive to reliable information and yet reacted positively to untruth information.....
The recent market crash since the fall of Lehman and AIG to me is another blessing. Thanks to Tim Berners- Lee idea of www. Now I am really revising in depth the mechanisms of Finance and not just remembering what Futures and Options is all about.Or even CDS (in Malaysia CDS refers to Central Depository System and not Credit Default Swap).The calculations of fees on mutual and trust funds versus hedge funds...Its all coming back after 18 years.
By remembering what I learned at Edwards School of Business Saskatchewan has helped me a lot to mentally cure my emotions although the desire to at least obtain a Saskatchewan Certified General Accountant designation is still there. Certainly to get the Certified Management Accountant or Canadian Institute of Chartered Accountants C.A. designation IS NOW beyond my reach.I know I cannot get a good job and I won't get anything for remembering Finance per se BUT these memories which helped me to sooth myself beside reading the Quran and pray 5 times a day.
I have more than 65% confidence in the Minister of Finance, Hon Najib who is an Industrial Economics graduate from Nottingham University UK. Apparently Najib would also be the next Prime Minister of Malaysia in March 2009 God Willing!

Malaysian GAS Prices As At 15th October 2008

As at October 15th 2008, the Pak Lah government reduced the gas prices again.Now
Ron 97 is RM 2.30 per litre
Ron 92 is RM 2.20 per litre
Diesel is now RM 2.20 per litre
Thank You Pak Lah.

October 15th 2008 is also my 18th year in Malaysia. For the past 18 years I HAVE NEVER been outside Malaysia NOT even to Sg Golok Thailand, Singapore, Sabah or Sarawak. It has been 18 years of HELL in Malaysia.

My Father Was Hospitalised & My Car Problems

On October 11th 2008, my father was admitted again to the Tuanku Ampuan Najihah Hospital Kuala Pilah for asthma treatment.For the past week beginning October 6th I brought my father to the Emergency Department to get his nebulizer (five times) until that Saturday morning when my father himself asked to be admitted.Alhamdulillah my father was discharged yesterday October 14th 2008.

For the past week I was busy with my Perodua Kancil. After having an oil change, the temperature gauge was going haywire until I replaced the water temperature sending unit (what is that?).Then after doing my daily market purchase, my car won't start at all.I knew the battery was still good because I just bought the battery new in October 2006.I brought the car to a car electrician and the man said I have to add an earth wire.Since then my Perodua Kancil has been running well.I hope to do a long distant traveling soon.

SELAMAT HARI RAYA AIDIL FITRI

His Majesty the King Sultan Mizan Zainal Abidin declared on Monday 29 September 2008 that Malaysians would celebrate END OF RAMADAN on Wednesday October 1st 2008.
In the morning I went to the mosque for the sunat Aidil Fitri prayer. Then a visit at the cemetery to recite Quranic verses to my late grand dads and my late grandma on my mother's side.It is custom to visit our closest relatives later.

Eid Mubarrak - Zakat Fitrah

Ramadan is coming to an end. Malaysians would celebrate Hari Raya Aidil Fitri i.e.Eid Mubarrak either Tuesday September 30th OR October 1st.Actually during Ramadan Muslims do not just refrain from eating and drinking from sun rise to sun set. In fact Muslims are also prohibited from sex with the spouse, watch porno dvds, steal even the smallest thing like pencil and of course masturbation DURING THE DAY.I remember in summer 1988 when Ramadan was during the summer.Just looking at the Caucasian girls in my class wearing shorts and loose blouse made my sexual lust to crave BUT alhamdulillah I kept on with my Fasting.
Muslims are also required to pay the zakat fitrah i.e.the price of a bowl of rice for the poor.This particular zakat price in local denomination of a certain location MUST be paid to the Imam or religious leader BEFORE the Eid Mubarrak morning prayer or the sunat Aidil Fitri prayer.For instance for the province of Negri Sembilan Malaysia the zakat per head is RM6.50 ( I paid my zakat at Negri Sembilan State mosque on September 25th 2008)
While in Saskatoon from 1987 to 1990, I always paid my fitrah before the Eid prayer at Saskatoon Mosque.

LATEST on Malaysian Gas Prices

On September 25th 2008, the Pak Lah Government reduced the price of Ron 97 and Diesel 10 sen per litre. The new gas price is Ron 97 @ RM2.45 per litre and Diesel @ RM2.48 per litre.

I presume the RM625 rebate is still on until March 2009.