O.P.R.

BNM Monetary Policy Committee decided to increase the OPR by 25 basis points to 2.75% on July 8th 2010

Thus the floor rate is 2.5% and ceiling rate is 3%

I would envisage the OPR increase would halt at this point taking into consideration PM Najib's advise on the impending slower 2nd quarter growth.

CANADA DAY

July 1st 2010

Tomorrow is Canada's National Day. I understand that Queen Elizabeth will be in Canada to honor the National Day.

Happy 143!!

Belacan and CenCHALOK

My instructors at University of Saskatchewan always ask me what is the menu whenever we had special functions such as Hari Raya or the National Day gatherings. Often the questions asked were how hot and how spicy the delicacies were?

However there are other Malaysian dishes which were not served during those occasions.For instance budu, belacan and cenCHALOK. The reason why we did not serve it was that Canadians could not stand the smell of these delicacies.For every house, room or apartment which I rented there were always complaints when I cooked my belacan.

Belacan in simple term is prawn paste.We would cook the belacan before mixing it with chilli.Although the smell is bad to Caucasians the taste was good.As for cenCHALOK, this delicacy is from Melaka and we can eat it raw.

BAY STREET

Why didn't I go to Bay Street while in Canada? Obviously Toronto is a few hours flight from Saskatoon not to mention the fares.Bay Street as Canada's financial district is a must for anyone who studied finance in Canada but I blew it am I not? I was in Toronto only once i.e. from 18 August - 21 August 1987. Even though the programs at the then Malaysian Students Department was packed, I managed to sneak time to go to CN Tower. As I view the tower from the aeroplane I knew I had to go up CN Tower when I touched down at Lester Pearson.

There is something missing if someone with financial background never set foot on Bay Street.Its like my name without Val. Of course I would like to set foot on world's financial centers i.e.Bay Street Toronto Canada, Wall Street New York USA and The City London UK. It hurts when you cannot practise what you have learned.

One day%%%

10th MALAYSIA PLAN 2011 - 2015

I was at my banana farm when PM Najib delivered his 10th Malaysia Plan (RMK10) speech.As a small unit farmer I feel all those plans are meant for big companies for example the setting up of facilitation fund for private investments.
The point is what's in it for me. Improving public transportation in Kuala Lumpur takes a long way to go.I foresee that the quality will not be as good as Saskatoon Transit System. I remember waiting for the bus while it was snowing and the temperature with windchill was -30 Celcius on the way to SuperValue to do my weekly grocery shopping. The STS bus will always be on time according to the bus schedules. If STS workers were Malaysians, I am sure many people would freeze to death.
Anyone interested to read the RMK10 can surf www.epu.gov.my

Nonetheless I know PM Najib is going somewhere. The ETP which will be unveiled in October should give the much awaited answers to NEM.There are still many unclear areas in NEM but as I read and understand the mechanisms, I know the time has come for me to LEAVE MALAYSIA.No government and no one will sponsor me to Canada but I know the funds are there.Only when I am able to make that steps that god has directed me into will I see the light to get out from this "Malaysian Cell"

To Malaysians who continued bullying me, the past 20 years was enjoyable BUT to me it was HELL.Each day I pray that this torture will end but looks like god still did not answer my prayers.

Since I have 39 credit units to complete my Bachelor of Commerce, I know I can either take 13 half classes(3 credits each) OR take 11 half classes and one full class (6 credits)

: The trial of Jeromy Kerviel provides an understanding to the 2008 global credit crunch : ABSTRACT

One Day I Am Going To Saskatoon Canada again.
HAVE A GREAT SUMMER.

Correction From Previous Article

It must be noted that based on my father's transcript of academic records, the university he attended was:

UNIVERSITAS NASIONAL JAKARTA
Jl Kalilio 17 - 19 Senen

His Dean was Prof H Gazali Dunia gelar Datuk raja Perak. Honestly I am not sure whether the title was bestowed by the Sultan of Perak.

GDP, OPR and Weddings

GDP
PM Najib announced a 10.1% GDP growth for quarter one 2010. To me Najib is Malaysia's football quarter back for Malaysia to achieve high income status. Similarly quarter 4 2009 GDP was revised to 4.4%.Right on PM Najib!

O.P.R.
The OPR was raised 25 bsp on March 4, 2010.
On May 13, 2010 BNM raised the OPR another 25bsp to 2.5%. Thus the ceiling rate is 2.75% and floor rate 2.25%
To me this increase is timely but Malaysians must remain cautious especially with the crisis of sovereign funds in Greece, Spain and Portugal.


Universitas Nasional Jakarta
I remember in 1978 while we were staying in Tampin, my family would go to Kuala Lumpur every school holidays. There my late father would attend his National University lectures at Aminudin Baki School near Kg Pandan. Once I met his dosen(maybe his dean) DRS Ghazali Dunia - Datuk Diraja Perak.Universitas Nasional Jakarta is a private university thus I now understand why my father sold his Hitler VW in 1979. We took the bus for the next 2 years.


Weddings......
My heart breaks when I learned that none of my 24 Malaysians who attended University of Saskatchewan with me ever invited me to their wedding. The point is they know I hate weddings. But I remember attending a wedding at Spadina Avenue Saskatoon. The couple purposely held the wedding outside a church so I could attend the "I Do" ceremony.
Well, its life when you are nobody and poor......

Remembering Saskatoon Canada - NEM

I'm imagining myself at Kuala Lumpur International Airport KLIA. Few days back I would have gone to the Immigration office to obtain my new passport. Now at the airport I am about to board my flight to Hong Kong, Vancouver and eventually to Saskatoon. Since I have no accrued taxes to the Malaysian government I do not expect any hick up at KLIA.
Arriving in Vancouver maybe I would be asked to strip naked because as a Muslim who came from a Muslim nation the body check must be thorough.Since I don't have any weapon or such kind I could then proceed to my Saskatoon flight gate.
Then at Saskatoon airport as usual I would rent a car (normally at Budget Rent A Car) but this time it would be different because I paid cash (from the money I obtained from nowhere few months before).My annual income does NOT eligible me for a credit card.
Driving the new GM made through Circle Drive west then to the University bridge. Finally I would be at Edwards School of Business University of Saskatchewan. At last I am able to proceed and finish my B.Commerce degree.

THAT WAS THE DREAM I HAD A FEW NIGHTS AGO...

As I was browsing my late father's files, I came across his degree from National University Jakarta Indonesia. As a biological son of his compare
1) my late father did not complete his DRS degree at National University Jakarta
2) I have 39 credit units left to complete my B.Commerce at University of Saskatchewan Canada.

....my father did not complete his DRS degree then because that particular degree was NOT recognized by the Malaysian government.


NEW ECONOMIC MODEL

When PM Najib revealed the NEM I always wonder what's in it for me. Since the aim is to increase per capita GDP from USD 7,500 to USD 15,000 by 2020 and the target group is the bottom 40% of the population, I myself fall into this category. Maybe PM Najib can lure me a way to find my own source of finance to LEAVE Malaysia.

ONE day I will go to Saskatoon Canada again. God willing!

GST & Proton Emas

As expected the government puts off the GST implementation to a later date. The reason I said 'expected' was because just like his father PM Najib will honor the interests of the people first. One argument is if the total sale price of a good will be the same with or without GST then let's continue the present system.


PROTON EMAS

At the recent Geneva Motor Show Proton unveiled 'Emas' or gold i.e. Proton's first hybrid prototype model. To me the car looks funny because it is so compact but then it was just a prototype. In order to compete globally, Proton must make sure its hybrid model will never encounter problems as other car manufacturers.
One aspect is price. Malaysians are used to think quality is price. Foreign made cars are expensive in Malaysia. Foreign brands which sell for less than RM100,000 include Toyota Vios, Nissan Grand Livina and Kia Forte. It is a known fact that car prices in Malaysia is among the highest in the world.
It all started in 1992 when Proton began manufacturing the Iswara. Due to the high Yen and RM exchange rates Proton has to increase its car prices every 6 months. Thus the government must impose high tariffs for CBU cars. Even then Yen was unstable to the greenback.
I don't understand why Proton make domestic cars which are not up to the European standards. Recently Tun Dr Mahathir revealed that Proton has to make more than 200 modifications for its Saga BLM model to be exported to the UK.