大脚丫的故事...

How To Deduct Entertainment Tax From Income Tax

2009-12-14T08:44:00.000+08:00

To determine deductibility of expenses incurred can be very tedious and bewildering

FOR income tax purposes, any expenses incurred in the course of a business will only be eligible for tax deduction if the expenses are solely incurred in producing the business income.

It is important to establish the deductibility of an expense as in the event of a field audit which results in the Inland Revenue Board (IRB) discovering an understatement of tax due to claims on expenses which are not tax deductible, a taxpayer will not only suffer additional tax but also a 45% penalty.

With effect from year of assessment 2004, entertainment expense will only be eligible for 50% tax deduction except for specific circumstances where it will qualify for full deduction.

This article will explain the three steps to determine the amount of entertainment expenses allowable as a deduction.

Are the expenses incurred entertainment expenses as defined in the income tax law?:

Entertainment is defined to include:

(i) the provision of food, drinks, recreation or hospitality of any kind; or

(ii) the provision of accommodation or travel in connection with or for the purpose of facilitating entertainment of the kind mentioned in (i) by a person or an employee of his in connection with a trade or business carried on by that person.

Are the entertainment expenses solely incurred in producing the business income?:

Expenses allowable for accounting purpose do not necessarily qualify for tax deduction. The entertainment expenses must be wholly and exclusively incurred in producing the business income to be eligible for tax deduction. Domestic and private expenditure charged to the business accounts will not be tax deductible. For example, entertainment expenses incurred by a sole proprietor in taking his family out for a meal will not be deductible as it is private in nature.

Are the entertainment expenses eligible for full tax deduction?

Expenses incurred on the following entertainment will qualify for full tax deduction:

1. the provision of entertainment to employees. Examples of such expenses include free meals and refreshments, annual dinners, outings and family day.

2. the provision of entertainment by a person who carries on a business of entertaining. Where a taxpayer is in the business of providing entertainment to paying customers, the cost of providing such entertainment will be deductible.

Examples of expenses which are tax deductible include provision of cultural shows by restaurants or hotels at their premises to entertain their customers and meals provided by airlines or other transportation business to its passengers.

3. the provision of promotional gifts at trade fairs or trade or industrial exhibitions held outside Malaysia for the promotion of exports from Malaysia.

Expenses incurred on gifts to customers or visitors who attend the above events will qualify for tax deduction. These would include samples of products, small souvenirs, bags, and travel tickets

4. the provision of promotional samples of products of the business of that person. It should be noted that only the products of the taxpayer given out as promotional samples will be allowed full deduction.

Examples of such expenses include:

● A complimentary drink or meal provided by a restaurant.

● Free samples of products manufactured/distributed by the business.

● Free samples of new products.

5. the provision of entertainment for cultural or sporting events open to members of the public, wholly to promote the business of that person.

Examples of cultural or sporting events and the entertainment expense related to such events are shown in Table A.

Taxpayers can do some tax planning in maximising their entertainment expenses claim by using the above provision. For instance, entertainment expenses incurred by a property developer in organising a carnival for the purpose of launching a new project or new property release will normally qualify for a 50% tax deduction. By including a cultural or sporting event, the property developer will be able to claim full tax deduction.

6. the provision of promotional gifts within Malaysia consisting of articles incorporating a conspicuous advertisement or logo of the business. The gifts need not be products of the business. However, the gifts must have a conspicuous advertisement or logo of the business.

7. the provision of entertainment which is related wholly to sales arising from the business of that person. Examples of such expenses include:

● Food and drinks for the launching of a new product.

● Redemption vouchers given for purchases made.

● Discount vouchers, shopping vouchers, concert or movies tickets, meal or gift vouchers and cash vouchers.

● Free gifts for purchases above a certain amount.

● Redemption of gifts based on a scheme of accumulated points.

● “free” maintenance/service charges or contribution to sinking fund by property developers.

● Lucky draw prizes to customers.

● Expenditure on trips given as an incentive to dealers for achieving the sales target.

● Provision of light refreshments to customers when making sales.

Entertainment expenses which are not eligible for 100% tax deduction under Step 3 above will only qualify for 50% tax deduction.

The tax treatment of some of the entertainment expenses are shown in Table B.

The process of determining the deductibility of entertainment expenses can be very tedious and often bewildering.

To ensure that the expenses are appropriately categorised, it is in the interest of taxpayers to educate their staff to provide details such as who they entertained and the purpose of the entertainment. Proper records such as invoices, receipts, payment vouchers, etc must be kept to support the claim in case of tax audit by the IRB.

By Lee Voon Siong

3 Year Laptop Malfunction Rates by Manufacturer

2009-11-22T21:24:00.002+08:00

Got this chart from Lowyat. Those who intend to purchase laptop should check out above chart before deciding (lower bar indicates better reliability)

Jusco at Bandar Mahkota Cheras

2009-07-12T19:44:00.006+08:00

Jusco has started the construction of a two-storey height shopping center at Bandar Mahkota Cheras recently. Due to the size and AEON actually owns the building, I believe this new shopping center will operate under Jusco brand instead of MaxValue.

This is defintely a good news for all residents in BMC. IMHO, Cheras is an underserved area - it has growing population, rising number of middle-high income family and closed to KL city center. What it lacks is only commercial activities, which C180 will offer in the near future. Once the road expansion work at Phenix and Bulatan Cheras completed, Cheras Selatan will prosper even further.

Photos taken this afternoon:

Construction notice

Construction work started

Location (Wikipedia):-
Jusco
C180

New Blog Created - Ringgit News

2009-07-12T14:06:00.002+08:00

Today I've created a new blog called Ringgit News. The main purpose is to provide some general information on all financial news and economic developments in Malaysia.

Welcome to Ringgit News!

Nationwide Rollout of CTCS on July 1

2009-06-30T21:08:00.004+08:00

KUALA LUMPUR: With effect from July 1, Bank Negara Malaysia (BNM) is implementing the nationwide rollout of the Cheque Truncation and Cheque Conversion System (CTCS).
In a statement yesterday, BNM said the cheque clearing system in Malaysia would be driven by the transmission of cheque images and data between banks and the clearing house as compared with the current physical exchange of cheques.

The CTCS system is now managed and operated by the Malaysian Electronic Clearing Corporation Sdn Bhd (MyClear), which is a wholly-owned subsidiary of the central bank. MyClear started operations on Jan 2, 2009.

BNM said CTCS modernised the cheque processing infrastructure in Malaysia through the electronification of the cheque clearing process and reduction of risks and costs associated with paper-based payment instruments.

"Cheques continue to be an important mode of payment, accounting for about 91.6% of non-cash payment value.

"The implementation of CTCS would enhance the efficiency of cheque clearing and contributes toward lowering the cost of doing business, thereby enhancing the competitiveness of businesses as well as the overall economy," it said.

BNM said outstation cheques and local cheques in the country as a whole would be cleared on the same day and funds would be credited to the depositor’s account no more than two days later.

However, in the states of Kelantan and Terengganu, which have different weekend bank holidays, cheques deposited on Sunday will require an additional working day for funds to be made available into the depositors’ accounts. Consumers and businesses will also no longer need to pay commission fees for outstation cheques.

BNM said with the rollout of CTCS, members of the public were reminded that effective Sept 1, 2009, only the newly designed cheques conforming to the eSPICK Cheque Design Standards and Specifications would be accepted by the banks for clearing.

退休保本储蓄户口计划 ?!

2009-06-30T15:59:00.003+08:00

无意间在佳礼中文论坛里看见这样的连接.

寿险保客必读 - 揭开寿险代理的一切夸大、隐瞒、误导、欺诈的销售手段！
http://bohtahche.blogspot.com/

感谢BTC勇于揭发保险业所谓‘退休保本储蓄户口计划’的真相. 希望大家可以转告其他人!

* 保险的宗旨是给予生命和心爱的人一个保障, 绝非赚钱或储蓄. 若要"包本", 可将钱存入定期即可; 若要"投资", 可选择股票, 债券, 基金等...

赤い糸 / Akai Ito / Red Thread / 红线

2009-06-21T20:25:00.012+08:00

如果几个月前有留意Astro应该会注意到这一部戏. 它改编自同名手机小说, 于2006年在手机小说网站“魔法图书馆”上开始连载, 连续十八天占据了作品榜榜首的位置, 点击率很快超过了一千六百万. 次年出版的《红线》系列小说销量突破了一百八十万. 接着推出了剧场版, 如今再登大银幕.

我终于今天一口气将它的剧场版给看完了. 个人觉得戏的上半场的布局还真不错, 后半场就稍微普通了些. 故事发生在一所高中, 主要讲述男女主角如何 (曾经) 巧妙的相遇, 分开, 再团聚在一起, 就像有条红线将他们联系在一起... 说起来还真惭愧, 看到了某些情节连吃到了这么老的我也会流起泪来.

如果有时间不妨看一看这部戏, 说不定它可以钩起你过往高中生活的回忆...

如果有兴趣, 可以参考以下连接
http://www.crunchyroll.com/forumtopic-420239/new-drama-movie-akai-ito/?pg=0
http://wwwz.fujitv.co.jp/akai-ito/index.html
http://milkteazoo.wordpress.com/2009/01/01/akai-ito-magazine-article/

小说版 (日文)
小说版 (英文, 粉丝翻译)

Pep Talks Don't Motivate Staff Then What Can?

2009-06-19T09:09:00.004+08:00

Psychology At Work - By Dr Goh Chee Leong

MORALE among the staff team is low. Productivity is low. Management decides that something needs to be done and quickly. So they get a trainer to give a “motivational talk”.

“Just come over”, they say, “give them a two-hour pep talk” and the expectation is that all of them will be inspired and motivated.

We want instant solutions for long-term problems.

If only life were so simple. If only leadership were so simple.

Don’t get me wrong. Words are powerful and when delivered by a skilful orator, they have the potential to exert an incredible amount of influence on a whole mass of people.

A good motivational talk certainly can lift the spirits for a moment, but therein lies the problem. Its effects are temporary at best.

The reality is that to boost motivation levels in the organisation on a more permanent basis, there needs to be more a fundamental change taking place in the organisation.

Research in organisational psychology has identified numerous organisational factors that contribute to workers’ motivation levels.

I have attempted to synthesise the various variables into four elements that, in my opinion, characterise the organisational culture of a highly motivated team.

EMPOWERMENT

People are motivated when they are given room to take ownership of their work process.

Read any management guidebook and it’ll tell you the same thing: Choose people who have the ability to get the job done. Set them clear targets and give them room to work.

Avoid micro-managing. Where possible give them freedom to make decisions about their work environment and their work processes. There are always boundaries and limits to freedom and decision-making rights of course, but the principle should be to give as much space as possible.

This is particularly important when you are dealing with your “top performers” and “high potentials”. These people are usually highly intelligent, highly motivated and full of ideas about how to get the job done. Nothing de-motivates them more than being straight-jacketed.

Sometimes as supervisors we make the mistake of over-managing perhaps, because they are trust issues.

Some organisations are overly bureaucratic, creating so much red tape that staff lose any incentive to implement improvements because it’s just too much trouble to change anything.

Some organisations regulate their processes and SOPs (standard operating procedures) to the point that staff no longer have any room to make any decisions or to exercise any discernment which makes the organisation rigid, inflexible and clumsy.

The danger about all this over-regulation is that it takes away a sense of control and ownership from the worker and this is de-motivating.

GROWTH

People are motivated when they perceive that the organisation is facilitating their growth and development.

Research seems to indicate that this is as important as financial remuneration especially for younger workers. They need to see that the current challenges they face are part of a personal development process for them. “What doesn’t kill me makes me stronger.”

Good organisations have transparent career development pathways for their staff and they communicate these regularly so that everyone is clear about what level they are at and what level they can aspire to.

Good organisations also provide the means for staff to make this leap. Talent management has become less of a buzzword and more of an operational necessity at many organisations that wish to compete at a global level.

The bottom line is that people are motivated when there is something to aspire to in their careers and it’s got to be more than just the money. Most “top performers” and “high potentials” are driven people who have relatively strong ambitions. Show them how their current “suffering” is going to help them get to where they want and they’ll be motivated to climb mountains and swim oceans for you.

CLARITY

People are motivated when they are clear about the goals, missions and objectives.

Good leaders are great at communicating the vision, mission and direction in a way that is both clear and inspiring. They are constantly “defining the mountaintops”.

High potentials like challenges. They want to be stretched. They seek a sense of achievement and accomplishment. That is why clarity of the mission is so important to them. Like soldiers in the battlefield, they want clear targets, clear objectives, clear victories.

Some organisations are poor at communicating expectations to their staff. As a result, workers have no sense of their performance indicators, their monthly targets, their scope of responsibilities. This ambiguity can be de-motivating.

EQUITY

People are motivated when they perceive that they are being treated fairly.

Nothing turns off a “high potential” more than the perception that “performance doesn’t really matter in this organisation”.

This is a problem that plagues organisations the world over. People feel that it’s all about office politics. It’s all about who you know rather than what you do. “As long as you’re close with the boss, they’ll let you get away with murder.”

In this kind of work culture, workers become experts at “managing” and “handling” their bosses, rather than improving their actual work performance. The name of the game becomes how to impress the boss rather than how to get things done. Once the worker sees a disconnect between his/her effort and the reward, you can forget about motivation, where the real work is concerned.

The solution of course is to put into place a comprehensive and well-executed performance management system that has clearly defined and measurable hard targets. I like the use of hard targets because it minimises manipulation.

The system needs to be fair and it needs to be seen to be fair.

A Chain-Reaction Of Illegality

2009-03-04T23:41:00.003+08:00

Statement by Tengku Razaleigh Hamzah
Wednesday March 4, 2009

A chain-reaction of illegality

The BN’s takeover of Perak has set off a chain-reaction of illegality which has left Perak quite possibly without a legitimate government. One of our most prosperous states has been reduced to a failed state.

One lie leads to many lies. Each bad action leads to a cascade of follies. Particularly when the lie or violation concerns something very basic. This is a principle we teach our children. It is a simple but universal truth now being demonstrated in Perak.

With each violation the sense of decency and restraint and the habits that bind us to the Constitution are loosened. The confidence in the rule of law that makes civilized life possible is diminished.

Laws are invisible things. They are exist only when they are understood and observed. When the government of the day ignores foundational principles such as the separation of powers, the Constitution becomes a dead piece of paper. But the Constitution is not just any law. It is the set of laws that founds our nation, defines its basic principles, guarantees our individual rights and prescribes the structures, duties, and powers which make a national community possible. It is the foundation and source of the legal authority underlying the existence of Malaysia.

Those who so blithely ignore the Constitution for political ends are quite literally wrecking the foundations of this country to further their own interests.

This must stop.

The Way It Is by Bruce Hornsby

2008-10-31T22:25:00.003+08:00

Today when I was driving back home, this song was played on the radio. It's nice to listen but I really don't wish it actually happens to any of us.

Song: The Way It Is
Artist: Bruce Hornsby
Album: The Way It Is

Standing in line marking time
Waiting for the welfare dime
'Cause they can't buy a job
The man in the silk suit hurries by
As he catches the poor old ladies' eyes
Just for fun he says "Get a job"

That's just the way it is
Some things will never change
That's just the way it is
But don't you believe them

They say hey little boy you can't go
Where the others go
'Cause you don't look like they do
Said hey old man how can you stand
To think that way
Did you really think about it
Before you made the rules
He said, Son

That's just the way it is
Some things will never change
That's just the way it is
But don't you believe them

Well they passed a law in '64
To give those who ain't got a little more
But it only goes so far
Because the law won't change another's mind
When all it sees at the hiring time
Is the line on the color bar

That's just the way it is
Some things will never change
That's just the way it is
But don't you believe them

教育非零和游戏

2008-08-13T20:10:00.001+08:00

【党团文告／马华公会公会（蔡细历）】雪兰莪州务大臣卡立依布拉欣建议开放玛拉工艺大学的学额给非土著的建议，引起马来人社群强烈抗议，这令日前因为反对律师工会举办回教徒论坛所挑起的种族紧张气氛升温。事实上，卡立所说的正是非土著所爱听的话。

然而，我担心有心人将企图把上述课题扭曲成国内各种族间的一场零和游戏，即一个种族得益，等于其他族群蒙亏。这将演变成一个分歧性的课题，对国家不是一种健康现象。如果我们不谨慎处理，国家将因为意见的分歧而四分五裂，失焦于为共同目标而团结一致。

我尊重那些学生及各组织的反对权力，那是群众的愤怒声音，他们通过声明文告及大字报提出抗议，来自国内各种族、宗教背景的有正确思维人士，已经对这样的局势表示关注。尽管我们坚持教育不该被政治化，但在我国，教育课题已经成为政治议题。

在玛拉大学的风波上，马华公会及其资深领袖当前必须阐明他们在这个课题的立场。

马华公会应该指出，全体马来西亚人民的共同目标，是要政府确保能向所有人民提供最高素质的教育机会，不论是马来人、卡达山族、伊班族、印裔或华人。玛拉工艺大学是否要开放给非土著，其实是一项可以开放及成熟的讨论。

指名道姓喊口号无法解决问题

据我了解，大部分马来西亚人民及政治领袖对任何种族课题感到不自在，其实把问题扫在地毯下是不健康的做法。我相信，大部分有正确思维的马来西亚人民，不管他们来自哪一个宗教，不仅是态度成熟，同时也能够以体谅他人感受的态度，去讨论或辩论那些尤关每一个人权益的课题。

指名道姓或高喊口号将无法解决事情，除非我们比赛谁喊得最大声。马华公会作为国内其中一个历史悠久的政党，可以扮演引领中庸及先进性的角色；举例说，如果其他族群对华人不满，那么马华公会有责任向他族证明，我们强调的是国内全体人民都是同等的伙伴。

我认为应该从表面意义去看待卡立的建议，或者这是所有人都不赞同的建议，但必须尊重。我不认为他应该被视为叛徒。

若该大学日后开放给非土著，将是受欢迎的举措，就像任何由华社创办的学员，一向来都开放门户给各族群学生。我确信，这将促进各种族学生互相交融，这也是政府在各项计划所要贯彻的精神。我们不要因为过去一星期出现言分歧论而自我分化，不论是关系到宗教或种族。让我们放眼一个共同目标，确保所有马来西亚人民都能有最好的教育。

教育绝对不是一场零和游戏！

Source: MerdekaReview

Is Barisan 2004 Election Victory Legal?

2008-08-13T12:08:00.002+08:00

GEORGE TOWN: The sum of RM218mil that a High Court has ordered Umno to pay for 2004 general election campaign materials exceeds the 2004 general election spending limit, said DAP secretary-general Lim Guan Eng.

He said in a press statement here Tuesday the Kuala Lumpur High Court judgment meant that the party had exceeded the spending limit of RM94.3mil at the maximum of RM200,000 per parliamentary constituency and RM100,000 per state constituency.

It was reported Tuesday that a High Court deputy registrar had ordered Umno to pay the sum to supplier Elegant Advisory Sdn Bhd for printed materials, transportation and mineral water used by the party in the 2004 general election.

Lim said that under Section 19 of the Election Offences Act 1954, a candidate could not spend more than RM200,000 and RM100,000 respectively for a parliamentary and state constituency.

"Umno had claimed that the campaign materials were for Barisan Nasional and had nothing to do with Umno. With 219 parliamentary seats and 505 state seats contested in the 2004 general elections, this means that a party like Barisan that contested all seats cannot spend more than RM94.3mil or else Barisan's victories are illegal.

"With RM218mil spent whether by Barisan or Umno on campaign materials alone, this is more than double the legally permitted amount," said Lim.

He said that spending above the limits imposed by the Elections Offences Act 1954 was an illegal practice under Section 27, and subject to a fine of RM5,000 by the Sessions Court, disqualification as a wakil rakyat and removal of rights as a voter.

"However, such laws are marked more by its breach than its compliance," he added.

Lim said this might now be an academic question since the 2004 general election had been superseded by the 2008 general election.

"The Election Commission’s failure to act and question the legality of the 2004 general election victories by the Barisan government not only makes a mockery of the very election laws it has drafted but also the spirit of democracy that votes should not be bought and sold," he said.

Source: The Star

What Every Aspiring Accountant Should Know About FX Rates

2008-08-06T16:47:00.002+08:00

The first thing you should know is that FX spot rates are written with the base currency first and the terms currency second. (The base currency is the denominator currency. The terms currency is the numerator currency.) For example "USD/JPY 120.50" means 120.50 Yen per Dollar. BASE/TERMS is contrary to the way most people would write a fraction, but it is the convention of the market. What is the market convention for determining which currency is the base currency of a currency pair? There is a hierarchy of currencies: EUR, GBP, AUD, NZD, USD, CAD, JPY. Given a currency pair, the base currency will usually be the first one you reach in this list.

The second thing you should know is that FX spot rates are actually two day forward rates. That's because FX spot contracts are for settlement in two business days. If you agree to the spot trade on Monday, each party is expected to make payment two days later on Wednesday. The exception in USD/CAD. Spot settlement is only one business day forward for USD/CAD. There is an FX market for immediate delivery. It's called the cash market and the rate is called "the cash rate." Also, there is an FX market for next-day delivery. The rate is called "the tom rate." (Tom for tomorrow.) Note that the tom rate is the same as the spot rate for USD/CAD, because for USD/CAD, spot contracts already deliver the next day.

Finally, you must be aware that an FX spot rate should never be applied to an income statement item to change it into another currency. FX spot rates should only be applied to balance sheet items. A balance sheet is a snapshot in time and balance sheet items are balances that existed at that moment. An income statement shows change in balances over a period of time. If you were going to use an FX rate to change an income statement item to another currency, would you use the FX rate at the start of the period, the end of the period, or an average rate? The answer is none of the above. Do not apply FX rates to income statement items.

Here is an example. Suppose you are a US-based entity and you buy a European bond (1 million Euros face) for one month and then sell it. You want to calculate your PNL in USD.

Date EUR/USD Bond Price (EUR)
Jan 1 1.2050 100
Feb 1 1.0050 101

Here is how NOT to calculate the PNL in USD.
(1,000,000 EUR) x (1.01 - 1.00) x (1.0050 USD per EUR) = 10,050 USD

This is the correct way to calculate the PNL in USD:
[(1,000,000 EUR) x (1.01) x (1.0050 USD per EUR)] - [(1,000,000 EUR) x (1.00) x (1.2050 USD per EUR)] = -189,950 USD

In this example the bond has increased in price by one Euro cent. But the US-based investor lost money on the position, because the Euro weakened dramatically over the period. Notice that in the correct calculation we are applying FX rates only to balance sheet amounts.

董事长给一个女学生的18条经典忠告

2008-08-02T15:28:00.004+08:00

1、一定要有独立的人格、独立的思想。一个经过独立思考而坚持错误观点的人比一个不假思索而接受正确观点的人更值得肯定。不要成为灌输教育的牺牲品。

2、仕途，商界，学术。大致说来，每个人都注定要走上三条道路中的某一条。在进行职业生涯规划的时候，不妨以此作为思考的出发点。根据不同的职业生涯规划来塑造各自的核心竞争力。只有知道自己以后要做什么，才能知道自己应该学什么。

3、专业无冷热，学校无高低。没有哪个用人单位会认为你代表了你的学校或者你的专业。千万不要因为你是名牌大学或者热门专业而沾沾自喜，也大可不必因为你的学校不好或者专业冷门而自卑。

4、千招会，不如一招熟。十个百分之十并不是百分之百，而是零。如果你有十项工作每项都会做百分之十，那么，在用人单位眼中，你什么都不会。所以，你必须要让自己具备核心竞争力。“通才”只有在“专才”的基础上才有意义。

5、不逃课的学生不是好学生。什么课都不逃，跟什么课都逃掉没什么两样。一定要掌握学习的主动性，不要像读中学一样被老师牵着鼻子走。逃课没有错，但是不要逃错课。同时，既要逃课，又要让老师给高分。

6、一定要学会理财。对于贫困生来说，首先要做的不是挣钱，而是省钱。很多大学生读书的时候一掷千金，可是，毕业以后一个月的工资还不够交半个月的房租。

7、大部分女生将电脑当成了影碟机，大部分男生将电脑当成了游戏机。大学生要掌握必要的计算机操作能力，但是，很多时候电脑会成为浪费时间的堂而皇之的借口。有电脑的大学生非常多，可是，这中间很多人可能大学毕业的时候还不会Excel，不会做一个像样的PPT

8、做事不如做人，人脉决定成败。一个人有多少钱并不是指他拥有多少钱的所有权，而是指他拥有多少钱的使用权。一个人具备多少能力，不只是说他一个人的时候能做什么，还包括他能通过别人做什么。一个人赚的钱，12.5%是靠自身的知识，87.5%则来自人脉关系。三十岁以前靠专业赚钱，三十岁以后拿人脉赚钱。所以，请好好珍惜大学期间建立起来的人脉关系。这几年你认识的朋友可能会是你毕业以后最可宝贵的财富。

9、互联网固然威力无穷，但是，如果你沉迷于网络聊天，或者沉迷于网络游戏，浪费的金钱倒是可以弥补，荒废的青春就无可追寻了。轻舞飞扬已经红颜薄命了，而痞子蔡却继续跟别的女孩发生着一次又一次的亲密接触。对于很多大学生而言，网吧就是一个血淋淋的黑洞。

10、爱情是不期而至的，可以期待，但不可以制造。花开堪折方须折，莫让鲜花败残枝。一个有一万块钱的人为你花掉一百元，你只占了他的百分之一；而一个只有十块钱的人为你花掉十块，你就成了他的全部。

11、研究生扩招的速度是30%，也就意味着硕士学历贬值的速度是30%。千万不要以为考研究生就是积极进取的表现。对于很多人而言，考研不过是一种消极逃避的方式罢了。对于绝大多数人而言，读研究生纯粹是浪费时间浪费金钱，立志从事科研、学术的人及其他少数人除外。

12、不要一门心思想着出国，更加不要迷信外国的月亮比中国圆。削尖脑袋记GRE词汇很可能是一件非常愚蠢也非常可悲的事情。既然全世界的公司都想到中国的市场上来瓜分蛋糕，为什么中国人还要一门心思到国外去留学然后给外国人打工？

13、人才市场就是一个地雷阵。通过多种方式求职固然没有错，但是千万不要饥不择食。只要用人单位一说要你交钱，你掉头就走便是了。

14、求职简历必须突出自己的核心竞争力。求职的时候大可不必像严守一那样“有一说一”，必要的时候恰到好处地说一些谎言是非常有用的。一份求职简历只要用一张A4纸做个表格就足够了。很多女生的求职简历就像是写真集，不但浪费钱，而且对求职毫无用处。面试其实是有规律的，每次面试的时候只要背标准答案就行了……

15、垃圾是放错位置的人才。所以，在找工作的时候一定要把自己放到那个让你成为人才而不是垃圾的职位上。当然，前提是你要知道自己究竟想做什么、究竟适合做什么。世界上最大的悲剧莫过于有太多的年轻人从来没有发现自己真正想做什么。骑驴找马固然没错，可是，并非随便找一头驴就能找到千里马。所以，一定要重视第一份工作。

16、大公司是做人，小公司是做事。进入公司工作以后，必须尽快融入写字楼政治。职员能否得到提升，很大程度不在于是否努力，而在于老板对你的赏识程度。在写字楼的政治斗争中，一定要学会自我保护。（具体技巧就不多说了，书中每一条都说得非常具体）

17、瘦死的骆驼比马大。撑死胆大的，饿死胆小的。一定要有创业的勇气和魄力。如果你一只满足于给别人打工，那么，不管你工资多高，永远都只能是一个可怜的穷光蛋。就算月薪2万，在深圳上海那种地方，一年的存款还买不来一个小小的洗手间

18、大学期间一定要多去图书馆多去自习室。很多书你现在不读，一辈子就再也没有机会去读了。虽然不是每本书看了都一定有用，但是，因为你不知道究竟哪本书以后会有用，所以只好多看书，并且抛弃那些过于功利的想法。尽管每次网到鱼的不过是一个网眼，但要想捕到鱼，就必须要编织一张网。

Why Warren Buffett chose Coca-Cola

2008-07-30T18:46:00.001+08:00

GIVEN the weak stock market, we think now is the best time to search for the good and solid blue-chip stocks for long-term investment. However, most investors always have difficulties in choosing the right stocks.

Today, we will look into how world famous investment guru Warren Buffett identified his favourite stocks. At present, The Coca-Cola Co is one of Buffett’s key stocks that he will practically hold forever.

We believe a lot of investors would like to know why Buffett chose Coca-Cola as one of his key long-term holdings when one Wall Street analyst at that time labelled it as a “very expensive stock”.

Established in 1886, Coca-Cola is the world’s largest manufacturer, marketer and distributor of carbonated soft drink concentrates and syrups. At present, it operates in more than 200 countries and markets more than 2,800 beverage products. Besides, it also owns four of the world’s top five non-alcoholic sparkling beverage brands: Coca-Cola, Diet Coke, Sprite and Fanta.

Why did Buffett choose Coca-Cola? He likes caffeinated soft drinks. He acquired 7% of Coca-Cola stocks in 1988 for a total investment of US$1.02bil or at an average price of US$5.46 per share. As at Dec 31, 2007, Berkshire Hathaway owned 200 million Coca-Cola stocks, or 8.6% of the company’s outstanding shares.

Buffett’s original cost in this company was US$1.3bil. Based on the latest market value dated Dec 31, 2007, he achieved an annual compounded capital gain of 11.9% for 20 years. However, if we include all the dividends received, we believe his return from this stock may be more than 20% per annum!

Buffett considers Coca-Cola “inevitable” where it has low business risk and is suitable for long-term holding. To him, buying Coca-Cola has far less business risk over the long term than any computer company. Being the most recognised international trademark, Coca-Cola enjoys global power with very high competitive dominance and economies of scales.

Coca-Cola sells 1.5 billion servings everyday worldwide. As a result of its strong brands, the attributes of its products and the global distribution systems, it has a very high business consistency and performance throughout the years. Given the certainty of its long-term prospects, Buffett may choose to hold this stock forever.

He also finds that Coca-Cola has a simple and understandable business. Besides, Buffett likes to acquire companies with high profit margins and return on equity (ROE). When he acquired Coca-Cola in 1988, it reported a pre-tax profit margin and ROE of 19% and 31.8% respectively.

Apart from that, Coca-Cola also showed very high cash flow or “owner earnings”. Buffett defined owner earnings as reported earnings plus depreciation and certain other non-cash charges, minus the average annual capital expenditures required for a company to maintain its unit volume and competitive position. In 1988, the company showed an increase in owner earnings to US$828mil against US$262mil in 1981.

Buffett always advises investors to study the raw data in the financial statement and trust our own eyes rather than analysts’ summaries. When Buffett acquired Coca-Cola, he paid quite a high premium compared with the overall market average. He paid about 15 times and five times for Coca-Cola based on price-earnings ratio and price-to-book ratio respectively.

Given the strong performance and certainty in management quality, Buffett felt highly confident that he would be rewarded by the management’s ability to generate more owner earnings and to realise the full potential of the business.

A good company should pay dividends to its shareholders. If the company decides to retain its earnings for future expansion, every dollar it retains must translate into one-dollar market value. Buffett labels this as a one-dollar premise.

Since 1987, apart from paying good dividends, the overall market value of Coca-Cola has surged much higher that its retained earnings.

In summary, even though it is not easy to identify the next Coca-Cola, with hard work, the current downturn provides us a golden opportunity to hunt for good fundamental stocks for long-term holdings.

l Ooi Kok Hwa is an investment adviser and managing partner of MRR Consulting.

Strategies For Inflationary Times - Deutsche Bank

2008-07-06T23:56:00.002+08:00

This artcile was published in The Business Times (Singapore). Click to enlarge.

Cops Pay RM24m To Lease 2000 Cars For 6 Months

2008-06-20T08:16:00.002+08:00

KUALA LUMPUR (June 19. 2008): Police investigation officers (IOs) will be required to respond to crime cases within 30 minutes upon receiving a distress call with the delivery of 2,000 cars leased specially for the purpose of investigations.

Federal CID director Commissioner Datuk Mohd Bakri Mohd Zinin said with the Proton Waja cars from Spanco Sdn Bhd, there should be no more excuses from IO's about having difficulty getting to crime scene due to the lack of vehicles.

He said currently response time for patrol cars to a distress call is five minutes.

Today, at Spanco's headquarters in Gombak, he launched the use of the IOs' cars and took delivery of the first batch of 1,100 of the vehicles.

Bakri said the cars would be distributed to state and district police nationwide for the use of IOs attached to the CID, Commercial Crime, anti-narcotics and traffic divisions.

He urged those given the use of such cars to take good care of the vehicle and to ensure it is roadworthy at all times.

"The car is not for personal but official use only. I urge those entrusted with it to also economise on fuel when driving, especially at a time when petrol prices have skyrocket," he said, adding the maintenence of the vehicles will be undertaken by Spanco.

Mohd Bakri said the cars are embossed with police logos to deter the vehicles from being misused.

He thanked the government for the funding of the car lease which was allocated in last year's national budget.

Although he did not say how much it will cost, sources said the lease is said to be at RM2,000 per car or RM24 million for the 2,000 cars for six months. Spanco is a company awarded contracts to lease vehicles to government agencies and departments.

Spanco chairman Major General (Rtd) Datuk Osman Mohd Zain said the police force was their biggest clients with the latest procurement. He said another 1,300 cars would be provided to the police in the near future.

Comments:
RM2000 per month for a car? What car are the police taking??
The amount is just too high and way above what average people is having for monthly car installment. Is this contract being awarded through open-tender? What about the petrol? Is this really worthwhile?

The Sun: Cops Pay RM24m To Lease 2000 Cars For 6 Months

Buying and Selling Signal

2008-06-18T12:29:00.000+08:00

This article by Ooi Kok Hwa, an investment adviser and managing partner of MRR Consulting, tackles some basic skills needed to detect the buying and selling strength of a stock price.

THE price movement of a stock is dependent on the demand and supply of the stock, which in turn is influenced by the buyers’ buying interest and the sellers’ selling interest.

Every buyer or seller has different purposes when entering into a trade. The followings are general “rules”, which provide us with some hints on whether the stock price will probably go up or down.

Investors should not view these “rules” as a foolproof method that will hold true all the time. There are certain occasions that market manipulators might be using these “rules” to mislead the general public.

Rule 1: Buyers are showing small orders and sellers are showing big orders. However, the stock prices are holding quite well – buy signal.

When we want to purchase a stock, we will call our remisiers to check on buying or selling orders on the stock. A lot of selling orders with only a few buying orders on the stock may imply that the stock price would come down.

However, if the stock prices are holding quite well, it could mean there are some net buyers accumulating the stock.

The reason for this is buyers may refuse to show their buying orders to attract sellers to sell at the buyers’ buying price.

Showing high buying orders may delay selling interest, as sellers will wait for the buyers to buy at their selling price. Hence, it is a “buy” signal if we notice the above rule on any stock.

On the other hand, if buyers have big orders and sellers have small orders while the stock price continues to drop, it might be a “sell” signal that this stock has some big sellers that are not willing to show their selling orders but they need to sell the stock now.

Showing big selling orders may cause panic on the stock. Hence, to sell at higher prices, sellers will try to hide their selling orders.

Logically, if a stock has a strong buying interest, the stock price should go up instead of come down. Hence, the weakening stock price may imply that sellers outnumber buyers.

Rule 2: The overall market is weak but your stock price is moving against the overall market trend – buy signal.

In a down market, if a stock that you own is inching up steadily despite the overall weak stock market sentiment, this may imply that there are some net buyers on this stock.

We view this as a “buy” signal where buyers are eagerly accumulating the stock in spite of the weak market. In most instances, the stock price will move higher the moment the overall market sentiment recovers.

In contrast, if the overall market is moving up but your stock is being beaten down, it is a “sell” signal. Normally, insiders are aware of certain crucial bad news that is still not available to the market yet.

Rule 3: Stocks carry a lot of bad news and are trading at high volume but stock price remains stable – buy signal.

Sometimes a certain stock is facing huge bad news but the stock price is holding on quite well. Normally, it may imply that buyers are not worried about the market concerns on this stock. The current stock price may have discounted all the bad news.

In contrast, if a stock, despite having all the good news in the media, continues to see its price decline, this is a “sell” signal that shows there are certain sellers who have some concerns over the stock, but the overall market is still not aware of the news.

STAR: Fund managers turn defensive

2008-05-20T22:21:00.003+08:00

Today STAR has published an article which carries five fund managers and heads of research stock picks for 2008:

One of them is my idol: Mr Tan Teng Boo. Just wondering why is he still keep recommending Tong Herr as one of the top picks. Based on London Metal Exchange nickel price graph, nickel price has been heading south since Mar'08.

We shall review each of their performance after one-year from now :-)

Star: Fund managers turn defensive

危险驾驶 vs 小心驾驶

2008-04-03T19:47:00.003+08:00

昨晚放工回家时差点就遇上了车祸. 正当我在Fast Lane快速行驶时, 忽然路中的一辆车亮起方向灯就即刻转右驶入我的车道. 我立刻猛按车笛, 踩煞车器! 幸好那司机及时移向左边少许, 而我就在轮胎打滑, 非常近距离的情况下从那车只的右边驶过... (那司机是个老头)

事发后, 心里有些余悸, 脑里不断想着许多事情. 生命实在是太脆弱, 有时可能因为别人的疏忽, 就这样去了. 也想起了我同事所形容的: 在印尼, 人命伤亡就像"Katak Mati" - 太多了, 所以没有价值.

希望大家爱惜生命, 小心驾驶, 保护自己也保护大家.

驾车时要不断注意四周的车辆, 别随便开快车, 也不胡乱割车.

MidValley 遇到老千

2008-04-01T23:06:00.003+08:00

近来要到MV去的朋友要小心, "中国老千"已经在那里开始干案, 我就差一点上了当. 首先一个肥胖的中国男人 (叫陈军, 应该是假名) 会先叫你留步, 再向你表明他远从中国到这里做生意, 身上现款用完了, 提款卡被提款机给吞了, 生意伙伴又到了国外, 要向你借些钱以吃晚餐和住宿酒店, 还会给张名片证明"身份". 如果你还是不相信, 他又会打电话叫他的同伙 - 另一个女生来. 那女的基本上会重复他之前所说的 (无非是要说服你).

这两个"中国老千"会说很多狗屁话: 什么大家是华人要帮忙; 不会为了几百块把中国人的脸给丢了; 曾经是个军人很讲信用; 现在帮他下次在中国有他照应...

为什么很肯定他们是老千呢? 因为:
1. 既然是出国做生意, 一定会携带足够的现款或信用卡
2. 既然有展览, 肯定有本地的伙伴可以帮忙
3. 不允许我打电话查询 - 如果是真的, 何必心虚
4. 在我决定不理睬他们之后, 那女的还把给我的名片给抢回

对于这两个"中国老千", 我想说声: 去你的乌龟王X旦, 你妈没教你礼仪廉耻, 真的是丢尽华人的面光. 再见到你们, 我就带你们去警察局 (MV里有警察局).

想不到这些老千, 在这越来越冷漠自私的社会里, 连那仅存的怜悯之心也要加以利用! 真的是令人气愤! 我鄙视他们!!!

新电话 - SE K770/W580

2008-03-20T08:35:00.004+08:00

两年前买的Panasonic VS2终于退休了. 我和大虾头最近一起换了新电话. 我换了SE K770而她则拿了SE W580. 这里要介绍的是一间在PJ牛车水的电话铺, 位置在Starbucks对面的, 专卖AP机, 价钱还便宜过金河那里. 先说明我和那店毫无瓜葛, 只是觉得有好地方就该介绍...

有型的K770

可爱的W580

P/S: 我的猪朋Mr Chet也换了咖啡色的K770

Lessons from Warren Buffett’s guru

2008-03-03T19:16:00.000+08:00

Personal Investing: By OOI KOK HWA

Phillip Fisher says he doesn't want a lot of good investments but a few good outstanding ones.

Q: What can we learn from Philip Fisher?

Philip A. Fisher, one of Warren Buffett’s investment gurus, is known for his philosophy on the qualitative aspects of selecting a good company for investment. Buffett learned qualitative analysis from him.

Fisher got his early education at Stanford Business School. He joined an independent San Francisco bank as a securities analyst in 1928, and founded Fisher & Co, an investment counselling business, in 1931.

According to his book entitled Common Stocks and Uncommon Profits, one of the most important investment philosophies from Fisher is Scuttlebutt, which he also calls “the business grapevine”, in investing.

Scuttlebutt is the use of the business grapevine to analyse a company. We can obtain the information from customers, employees, suppliers, academics, trade association officers, industry observers, etc. This information is crucial in determining the character of its managers and the potential of the company.

A good company should exhibit unquestionable management integrity, own highly competitive products, be in a healthy financial position, have good cost control and be effective in its research programme.

According to Fisher, even though it is hard to know quality of management, a good management team should possess the ability to carry out day-to-day tasks efficiently and have good long-term planning. The management should also have high integrity and maintain good labour, personal and executive relations.

Fisher is a believer of growth investing. We need to select stocks that have great potential to grow their businesses. It will be a waste of time to hold on to stocks that have no growth potential. He believes that we can get capital gains by buying into these companies as their stock prices would go up in line with the increase in their intrinsic value.

It requires extensive research before you can get one. Fisher said: “I don’t want a lot of good investments; I want a few outstanding ones.” These companies can be bought at high historic price earnings ratio (PER) because there is a possibility that their stock price is reflecting good news you don’t know about yet.

The growth companies should demonstrate strong and well-directed research capabilities. These companies should also exhibit an above-average sales organisation. Besides, they need to have a sustainable profit margin and good return on capital. Normally, these companies are the market leaders in the industry and have the advantages of scale.

A consistent and predictable dividend policy will provide the minimum returns to investors. Although high dividends are good for investors, to maintain business growth, high growth companies need to retain a certain level of profits for future expansion.

If a company is paying dividends with little retained earnings, it will cause lower reinvestment, which will affect its long-term growth. As mentioned earlier, the main returns to an investor is capital gain. He believes that buying into high growth companies will provide the capital gain.

When to sell

Fisher believes in long-term investment. According to him, the most important thing is to select the right stocks. “If the job has been correctly done when a common stock is purchased, the time to sell it is almost never,” he said. However, if we select the wrong stocks, we need to sell.

We need to admit that we have made mistakes in our calculation. This attitude is important as not many retailers have the courage to admit their mistakes. Furthermore, we should not expect to be right all the time. We should be aware that we can make mistakes and we will make mistakes in our analysis, but more importantly, we need to learn from our mistakes.

Fisher said: “The chief difference between a fool and a wise man is that the wise man learns from his mistakes, while the fool never does.”

Fisher will only call a sell on a stock when the company or industry has changed and the stock no longer qualifies as a growth stock or a better prospect is available elsewhere. He will not sell a stock just because a stock appears to be selling for a significantly above average PER or because the stock price has increased.

He believes that most investors always make mistakes by selling their stocks with the hope of buying them back at lower prices. In most instances, the investors miss the stock when it recovers.

普吉岛旅游照(23-26 Oct 2007)

2008-03-01T15:18:00.016+08:00

虽然家乡是米都, 却从来没有到过泰国的我总于在去年到了普吉岛. 曾经遭受海啸袭击的普吉岛如今已完全恢复, 绝对适合喜欢大自然的朋友. 和吴哥一样, 最适合自助旅行不过了.

幻多奇主题乐园

到此一游

团体照

鱼儿在脚下游

一起来喂鱼

跳

猴子吃蕉

傍晚街景

餐馆里

海鲜

和世界小姐和照

艺术

美女

* 此美女非真女, 要找小姐的在那里可要小心...

吴哥旅游照(11-14 Jun 2007)

2008-03-01T14:13:00.017+08:00

这里放的是去年六月到吴哥(SiamReap)旅游的照片. 最著名的旅游景点就是吴哥窟. 在这里载帖一些有关吴哥窟的资料:

相对于柬埔寨人来说, 吴哥窟不似是人间的制作, 而是一个神话传说. 按传统的说法, 居住于 Meru 山上的 Indra 神, 赐予人性的生命给祂的儿子Ketomealea, 让祂能保护佛教, 及维持其王国的光荣. 一个晚上, Indra 神派遣 Meatolei 神到世上, 带回Ketomealea , 乘祂坐着马车前往拜访 33 神的天堂 ( Heaven of the 33 Gods ). 于停留时, Indra 神教授了 Ketomelea 10 种神圣的使命, 并连续七天, 于花园内, 替 Koetomelea 每天洗浸香浴七次. 再邀请 7 位神圣的 Brahmans 为祂念诵七咒语, 及洒泼神水, 祝福祂能享受百岁长寿. 礼成后, 他们乘坐马车, 飞到 Indra 神的宫殿. 此后 Ketomealea 便被选定为建造人世间的使者 . 天上的建筑师并建成了吴哥窟. Ketomealea 看都吴哥窟的宏伟建筑, 感到非常高兴. 并要求Pisnouka 同样多建造几处像吴哥窟的地方. 直至 Ketomealea 受封为此社稷的国王时, Indra 神再重临大地, 向其儿子祝福, 并赐祂为 " Aritha-polape a-hano " ( 即消灭敌人的强者 ). Ketomealea 并将祂的国土命名为 Kampuja, 即是现在的Cambodia 柬埔寨. 吴哥窟为于柬埔寨的西北面的 Siam Reap ( 暹粒 ), 距离泰国边境约 150 公里. 吴哥窟旳高棉人与泰国的暹罗人常常发生战事纠纷. Siam Reap 是平服暹罗的意思.

乘坐木船到Tonlé Sap

著名的吴哥窟

吴哥窟的顶端

团体照

老树盘根

无名树

和照

自助旅行到吴哥是十分简单的. 住宿可以通过网络预定, 导游也可以(临时)通过酒店预订, 价钱大同小异. 通常交易都是以美元计算. 信用卡不普遍. 四天三日游两人费用大约在马币一千以内.

Malaysian Citizenship or PR?

2008-03-01T10:53:00.006+08:00

I was disappointed again when reading through these two pieces of news last Tuesday. Though they were just verbal statement/pleading from the people, government should take a serious check whether such double-standard does exist in its policy.

TheStar dated 26 Feb 2008, Page N44. (Click to enlarge)

The writer (Malaysian) is pleading the government to grant his parents a PR status.

Jakarta Post dated 26 Feb 2008, Headlines Page 2. (Click to enlarge)

The interviewee (Indonesian) claimed that by staying in Malaysia for over 5 years, one can apply for Malaysian citizenship and get a Blue IC.

Are we keeping pace with FDIs?

2008-02-18T17:08:00.000+08:00

MALAYSIA’S reliance on foreign direct investment (FDI) is well noted. Historically, it was FDIs that laid the backbone of the Malaysian economy – under British imperialism, plantation (rubber and palm oil) and mining (tin, petroleum) and after independence, the manufacturing sector (electrical and electronics).

FDI has played an important role in financing long-term economic growth in Malaysia. However, since the financial crisis of 1997/98, the changes in Malaysia’s FDI stock have been a cause for concern, especially when compared to its competitors.

The UN Conference on Trade and Development (Unctad) reports that global FDI stock has risen from US$551bil to US$12 trillion since 1980, with most of the FDI concentrated in developed countries. In 2006, 70% of FDI stock was located in developed countries while developing countries accounted for only 26%.

The lion’s share of the FDI stock in developing countries was in the East Asian economies. Together, they accounted for 38% of FDI to developing countries.

Malaysia cannot emulate China, India, or Vietnam but should emulate Singapore and Hong Kong given similar socio-economic conditions.

FDI stock in China increased from US$1.1bil in 1980 to US$293bil in 2006, with a significant jump recorded since the 1990s. If the FDI stock in Hong Kong, the gateway to China, was included, the performance would be all the more startling.

FDI stock in Hong Kong alone increased from US$21bil in 1980 to US$769bil in 2006. This is truly remarkable, as Hong Kong does not offer any incentives for FDI compared to other developing economies. India, another awakening giant, too has been recording tremendous growth in FDI stock. In 1980, FDI stock in India was only US$452mil. This grew to US$51bil in 2006.

In Asean, the star performers are Singapore and Vietnam. FDI stock in Singapore rose from US$5bil in 1980 to a staggering US$210bil in 2006. As for Vietnam, FDI stock increased from US$1bil in 1980 to US$33bil in 2006. This was remarkable considering that Vietnam was at war until 1975 and faced economic embargo from the US until 1994.

Malaysia started like Singapore with an FDI stock of US$5bil in 1980. In 2006, its FDI stock stood at only US$53bil, which paled in comparison with Singapore’s US$210bil. Furthermore, for the years 2001 to 2005, FDI stock fell lower than the US$53bil recorded in 2000. This is distressing as Malaysia has all the prerequisites as a favoured FDI destination and provides generous incentives to foreign investors.

There are several reasons why Malaysia is failing to attract and retain FDI in comparison to the frontrunners, especially Singapore and Hong Kong. The main problem has much to do with institutions.

In the World Bank's Doing Business 2007 Report, which measured “the ease of doing business,” Singapore was at the top while Hong Kong ranked fifth. Malaysia was only ranked 25th. It takes 11 days to start a business in Singapore and Hong Kong and 30 days in Malaysia, while addressing licensing issues in Malaysia takes 281days compared to 129 in Singapore and 160 in Hong Kong.

The World Economic Forum's Global Competitiveness Report and the IMD World Competitiveness Yearbook provide similar findings on institutional challenges in Malaysia.

Malaysia cannot emulate China, India, or Vietnam but should emulate Singapore and Hong Kong given similar socio-economic conditions. Lessons from Singapore and Hong Kong call for a return to meritocracy in the Malaysian civil service and an arm's length relationship between politicians and civil servants.

Extracted from TheStar

香港最新电影 - 淫间道

2008-02-17T14:51:00.005+08:00

今天收到了这香港最新电影<< 淫间道 >>的电影海报, 有够搞笑!

Just What Is An Islamic Car?

2007-11-27T13:33:00.000+08:00

Still remember the news about Proton wants to produce "Islamic" cars? A lot of people must be pondering what "trick" is Proton trying to play. After the news broke out for about two weeks, we have comments given by Dr Syed Ali Tawfik al-Attas, Director General of Institut Kefahaman Islamic Malaysia (IKIM).

I extracted a few paragraphs of Dr Syed's view to share with you:

The cars are apparently “expected to have Islamic features such as the compass kiblat reading and compartments for keeping the Quran and scarves.” A complete perusal of the article betrays the fact that the focus was not on making a car “Islamic”, but rather on using the term “Islamic” as an advertising tool purely for economic gain.

My concern here is that Islam and all its associated elements – namely, Islamic, Islamisation and so on – are being corrupted by those who know not, and know not they know not (la yadri wa la yadri annahu la yadri). Islam is not a religion for the feeble-minded, nor is it the handmaiden of politics or a cliché (cogankata) for advertising, business and economics.

The fact that the Muslim world today suffers politically, economically and intellectually is due in large part to the Muslims, and not Islam.

In my opinion, far from ennobling the Muslims and the Muslim world, such proposals like an “Islamic car” bring shame, and invite unnecessary ridicule.

Hello, Datuk Syed Zainal Abidin, did you hear that?
* Proton has reached a new low today 12.30pm @ RM3.66

No Foreign Partner For Proton

2007-11-20T23:38:00.000+08:00

Look at what our respected minister said.

I guess they have over-estimated what "Persona" can do for Proton. A few months of good sales do not really mean "TURNAROUND". A simple comparison with Toyota, GM, Hyundai will tell you that our Proton does not have the capability to compete at all. Are they planning to sell the same model for the next 10-20 years under government protection?!

After the news was published, Proton share price tumbled RM0.92 or 18% - approximately RM505mil capitalization vanished in one day!!! Well well, market seems do not agree with the decision. Wanna re-consider the alliance? Better do so!

Food Foundry

2007-10-29T13:52:00.000+08:00

不久前和大虾头到SS17的Food Foundry去品尝著名的Mille Crepe - 一种由大约20薄层法国绉层组成的法国点心. 它的味道十分香滑可口, 有别于一般甜腻的蛋糕. 加上Food Foundry的环境清幽, 最适合和朋友欢聚不过了. 首推Vanilla Mille Crepe, 一块蛋糕的售价介于RM8-9, 还算合理.

Food Foundry
地址: SS17 / Bangsar

Vanilla Mille Crepe (Yummy~)

生日礼物 - Fuji F40fd

2007-10-29T00:01:00.000+08:00

今年的生日大虾头送了我一架Fuji F40fd. 大虾头知道我一直都想要一架新的相机, 但却因舍不得手上的Kodak DX7630而无法下手, 所以她决定"破费"买架给我. 很高兴因为从此以后可以告别在夜晚拍照模糊的困境. 在这里要感谢她!

Fuji F40fd 是续经典F30之后的超级夜光(傻瓜)相机, 在普吉岛之旅它可显尽威风, 无论在夜景或昏暗室内它都应付自如, 效果十分满意.

我的新相机-Fuji F40fd

劳苦功高的DX7630

国家图书馆

2007-10-06T17:27:00.000+08:00

在大虾头的良好熏染之下, 我决定今天到国家图书馆去一游. 说起来瞒惭愧, 吃了这么大才第一次踏入自己国家的图书馆. 比起邻国的图书馆, 我国的面积大了许多, 但藏书量却普通而已, 周末的人也零零星星, 可能是本地比较流行"卖芢饼", 而不流行读书吧!

不论如何, 好书还是有的. 我一口气就借了3本:
1. Making Management Communication Persuasive
2. Financial Derivatives Markets & Applications in Malaysia
3. Inside the International Financial Futures and Options Markets

希望读后能提升自己的学问和说话技巧.

有兴趣的欢迎到国家图书馆来, 支持一下政府的号召, 塑造一个良好的读书风气. 国家图书馆坐落在Jalan Tun Razak, 在Istana Budaya不远. 会员费只是区区RM1而已, 便宜过邻国许多 - 国人实在是没有理由不支持!

Bursa Pursuit Begins Today

2007-10-01T18:24:00.000+08:00

Heard of Bursa Pursuit? It is an online virtual investment game organized by Bursa with the aim to encourage people to learn share investing. The game starts today. Registration is free and there are over RM500,000 worth of prizes to be won!

So, give it a try! Who knows you would be the one winning the cash prize away.

* Started the game today, with a RM3k plus profit, ranked 268.

MARCH FOR JUSTICE

2007-09-26T22:47:00.000+08:00

JeffOoi has a very comprehensive coverage on the "March For Justice". It is a peaceful demonstration organised by Malaysia's Bar Council today (26 Sep 2007). I hope this will serve as a wake-up call to the government and all the Malaysian to review and clean up the judiciary.

SUPPORT! SUPPORT! SUPPORT!!!

Photos are taken from JeffOoi, click for more.

家里的花

2007-09-25T22:45:00.000+08:00

妈妈是个标准的园丁, 只有她才有那种非凡的耐心去照顾家里的花花草草. 这一次回家, 特别为她的 ”作品” 拍几张照片, 放上网让大家欣赏.

Donut Factory

2007-09-25T22:24:00.000+08:00

最近到新加坡公干, 很幸运的有空闲让我得以去买Donut Factory 来试试. DF 真的是叫新加坡人为之疯狂, 即使是周日的工作时间也得排上20-30分钟. 虽然辛苦, 但绝对值得一试. 一个SGD1.20, 买多有折.

首推: Double Chocolate, White Strawberry Heart, Hazelnut Milk Chocolate.

买了两盒, 一盒带回KL

忍不住, 先吃了一个...

带回去KL的Donut

Donut Factory
Visit Singaprore – Donut Factory

Market Turmoil - What Should We Do?

2007-08-10T20:29:00.000+08:00

Not long ago, KLCI achieved its height at 1392 on 24-Jul-07. After approximately two weeks, the KLCI falls more than 100 points closed at 1287 today. Many investors (speculators) are panic with such volatile market and wonder whether is the bear coming.

Most analysts have blamed the turmoil as a result of the sub-prime mortgage default problem. One should note that the name of the "sub-prime" is already indicating its high-risk nature. With the higher crude oil and interest rate, it should not be surprised to see the increasing default rate. It is basically a mis-pricing of the credit spread and it is healthy for the market to have such correction.

Looking back to our Asian region, any potential problem that could lead to such a recession? So far, I don't see any. With the booming economy and rising middle classes, China is definitely going to be another super economy and India is the next one. Locally government has launched several mega projects, waived the RPGT, increased government servant payroll to further stimulate local consumption. These measures will help cushion the impact in the event the economy turned down.

So what should we do? My opinion is that market will continue fall in the short-term. Why? Simply because more and more investors will withdraw from the hedge funds and hedge funds will be forced to unwind position. Expect more bad news to come in the coming weeks.

Advice:
1. Take this opportunity to do stock analysis
2. Look for companies that are under-valued, net cash (low debt) and having sound business model
3. Suggest utility and high DY companies.
4. Consider resource/commodity-based companies if the valuation is low enough
5. Personal recommendation: DIJAYA/ PLENITUDE/ TALIWORKS/ LITRAK/ MTDINFR/ MFCB/ PPB/ IJMPLNT/ AEON/ DIGI

NEWS - A Bigger LCCT

2007-08-10T08:12:00.000+08:00

PUTRAJAYA (August 9, 2007): A new low-cost carrier terminal (LCCT) that can handle up to 30 million passengers per year will be built, said Deputy Prime Minister Datuk Seri Najib Razak.

Located within the KL International Airport (KLIA) area and close to the main terminal, the project will take four years to complete.

Najib said the cost and the actual location of the new terminal which will be connected to the main terminal by rail service has not been finalised or identified.

Until this new facility is ready, he said the current LCCT near the KLIA, will be extended and upgraded, including work on the aprons and parking lots.

He said this after chairing the cabinet committee meeting on transport today.

Asked as to why a new terminal needed to be built when the current one will be expanded, Najib said it can take only between 10 and 15 million passengers per year, even with the extension.

It is learnt that with the projected pace of growth in low-cost control here and around the world, a bigger and better LCCT was needed.

"An immediate study will be done on the current LCCT's extension and upgrading works. An allocation will be finalised once the study is completed," Najib said, adding that the decision was made by the committee today.

He said that once the new LCCT terminal was completed, the old one will be convert for other use. He did not elaborate.

He said AirAsia would operate the new LCCT.

Transport Minister Datuk Seri Chan Kong Choy, who is also a member of the committee, said the new location "is within KLIA and closer to the main terminal".

On other matters discussed, Najib said the commitee agreed in principle to build new bus terminals, walkways and park-and-ride system in Kuantan, Kota Kinabalu, Tawau and Sandakan.

He said the Transport Ministry would do a study on this within a month before anything was done.

The committee also approved RM72 million for Sabah to buy locomotives and rolling stock for 30 level crossings.

"(Of the sum) RM57 million will be in the form of an easy loan, and the rest will be a grant," he said.

Source: TheSunDaily

My comments:
1. The current LCCT was constructed in June 2005 and fully operational in Mar 2006. After operating less than two years, Malaysia realized that the current LCCT cannot handle the increasing passenger volume(?!) What happened to the feasibility study conducted prior to the construction of LCCT? Looking abroad, we have already seen the tremendous success of low-cost carriers such as Ryan Airline, Virgin Blue & etc. Shouldn't Malaysia be foresight enough before start off with any projects?

2. Quoted from Star:"Transport Minister Datuk Seri Chan Kong Choy, who was at the meeting, said the current LCCT, which was first designed as a warehouse, would be converted into a cargo terminal when the new LCCT starts operations". Oh no, the LCCT is originally a warehouse!

3. I sincerely hope that the Transport Ministry can conduct a (really) comprehensive study for the new LCCT. Learn from other countries' experience and avoid expensive mistakes. We're a small country, but ambitious enough to carry out so many projects (IDR, NCER, Bakun & etc) at one time. Hope we're not over-stretching ourselves.

NEWS - BMC Buka Jalan @ 24-JUN-07

2007-06-24T13:41:00.000+08:00

今早出席了由皇冠城开路委员会所主办的”Pak Lah: No toll, show us highway contract”签名集会．目标是收集一万个签名去向首相请愿，希望政府能正视问题．

BMC开路传单

最新的消息说道Grand Saga将在这一条1.5km的道路上建造收费站．如果事情属实，那这将是天下第一笑话，因为这将是全球最短的收费道路，也是第一个把收费站建在住宅区内．再说这件事具有非常的关键性，一旦收费站成功建立起来，将标榜着政府允许道路公司延伸它们的收费站到住宅区－成为人民的大灾难！

居民踊跃出席签名运动

人民抗议

事情的来龙去脉:
皇冠镇建收费站，荒谬 (22/6/07)
路程仅1.5公里却要建收费站 (21/6/07)
第三场反对大道收费起价集会本周日下午蕉赖11英哩举行(17/1/07)
冲破警察封锁线越过收费站五百人兴致高昂抗议路费涨 (31/12/06)
强逼缴过路费就是苛政！邓章钦：人民得杀掉老虎 (17/12/06)
过路费高涨出入被迫付两次蕉赖皇冠镇居民第14次怒吼 (17/12/06)
Taking Their Woes To Parliament (31/8/06)
Second Protest Against Road Closure (4/7/06)
Residents Protest Closure (4/5/06)

金加利IQ考题

2007-06-24T13:09:00.000+08:00

这几天到过金加利茶餐厅的朋友, 有留意到桌上的IQ游戏题吗? 我见它的考题蛮有趣的, 就把它带回家, 顺便登在这里让有兴趣的你尝试:

金加利IQ考题(Click图片放大)

P/S: 超级喜欢问题3和8, 有够”废”! (答案一个星期后才给)

港澳六日游 - Day 5/6

2007-06-23T19:16:00.000+08:00

25 Jun 2006
今天是个比较轻松的一天. 早上, 我们先到附近的点心店享用香港点心. 香港点心选择多, 馅料新鲜, 比起来本地的好吃多了. 结果叫了太多, 变成得打包做午餐. 接着就去了黄大仙庙和车公庙. 值得一提的是车公庙里有个金色的风车, 据说信徒用手去转个圈就会为自己带来好运气. 回时也顺便去了深水埗, 看看那里批发衣市的情形. 一些店也有做门市, 衣服是蛮便宜, 但却没有完善的更衣室, 所以没有什么收获.

黄大仙庙

26 Jun 2006
这天完全是血拼天, 从香港到澳门, 一路买东西. 在这里要告诉大家, 澳门大三芭的Watson所卖得化妆品, 香水都很便宜. 爱漂亮的女生都应该去那里看看有没有适合自己的用品. 过后, 我们便搭AirAsia从澳门回KL.

热闹的大三芭

这里提供一些资料给打算自助旅行的朋友, 希望有所帮助:
香港旅游发展局
HK MRT System Map
HK Observatory 7-Day Weather Forecast
Anne Black Guest House
新渡轮澳门
天星小轮

必需吃/买 (澳门):
猪扒包
黄枝记-虾子/云吞面
双皮燉奶
蛋塔

杏仁饼

必需吃/买 (香港):
珍珠奶茶
咖哩鱼旦
益美多沙
艇仔粥
大屿山豆腐花
四季煲仔饭
花祺参
蜜姜糖
镛记烧鹅
恒香老婆饼
许留香
Esprit
Sasa

香港的治安良好, 交通方便, 路标清楚明显, 是最适合自助旅行不过. 只要事先安排妥当, 就可节省时间, 避免反复来回同样的旅程.

香港, 我们还会再去一次!

港澳六日游 - Day 4

2007-06-23T18:13:00.000+08:00

24 Jun 2006
同样的, 我们这天也依着香港旅游局提供的漫步游路线到中西区去. 这里可以见到经典的双层电车, Western Market, 还有许多售卖海味药材的店铺. 我们买了少许花祺参和蜜姜糖, 便到文武庙去拜拜.

双层电车

Western Market

一个仅卖"邓小平"的摊铺

午餐我们到了著名的镛记烧鹅去, 它的烧鹅皮脆肉滑, 非尝不可. 吃后就去山顶和腊像馆. 回程时则乘搭天星小轮从灣仔回到尖沙咀, 尝尝搭油轮的滋味.

镛记烧鹅

从山顶了望繁忙的香港

腊像馆

"IPOD Shuffle"

2007-05-06T22:29:00.000+08:00

前几天到Jusco Cheras Selatan 逛街吹冷气时, 无意间看到了这只玩意 “IPOD Shuffle”, 竟然只卖RM99而已(如图)!

"IPOD Shuffle"

原来这是个冒牌货, 叫”I-Clip”. 虽然如此, 但你不觉得它做得似模似样, 几可乱真吗? 天呀~ 实在是太佩服中国的仿造技术了! 店主还告诉我说原装的耳机效果不够好, 如果愿意可以另外买个更好的耳机来代替.

结果就在同一天, 我败了一只给他….

新加坡干活记

2007-05-06T22:14:00.000+08:00

4月26日是我国最高元首登基日, 公司的同事都难得在这一天偷闲. 我可没那么幸运, 和两个同事去了新加坡做工. 我们寄宿在Calton Hotel. 我对那间酒店十分满意: MRT, shopping centre 都在五分钟的步程里; 房间里有LCD TV, 网络也是超快的(最高600kb/sec)

Calton Hotel Room

Calton Club Window View

Chijmes (next to Calton Hotel)

白天做工, 晚上就是我们的活动时间啦. 我们去了:

Geylang Lorong 9 尝了那里著名的宫保田鸡 + 煎蚝 + 豆浆 + 油条
Orchard Road 尝了Tony Roma's Rib
Singapore Science Centre + Bugis Street + Bugis Buddhist Temple (星期六)
Marina Square 尝了Billy Bombers

背后是DHL Baloon

Singapore Science Centre (with Giap)

短短的几天, 我对新加坡有了另一种看法. 虽然我们常常讥笑新加坡人KIASI & KIASU, 但是我想说也就是因为他们有这一种心态, 才会时时鞭策自己不断向前迈进. 新加坡政府在吸引外资, 经济转型, 人才培育方面都做出很大的努力, 以确保它能在全球竞争下脱颖而出.

反观只隔一海的我们, 在拥有广阔土地, 丰富资源, 廉宜人力之下却步在邻国之后… 真的希望有一天我国可以超越新国, 成为亚太区域的一个经济强国.

STOCK - MTDINFR

2007-05-06T21:58:00.000+08:00

Stock : MTDINFR (9768)
Full Name : MTD Infraperdana Bhd
EPS (cents) : 2.71 (2006); 3.28 (2005)
NTA (RM) : 0.74
Price (RM) : 1.12
Div (RM): 0.02 (2006); 0.02 (2005)
PE : 41 (2006)
DY : 1.8%
Recommend : BUY

Looking at the price movement of LITRAK (6645) from RM2.9x to RM3.6x, apparently market has started to price in the effect of the toll hike that took place since 1st January 2007. However, there is another counter which is also the “beneficiary” seems being ignored by the market. Its share price has hardly moved even though our KLCI has broken its historically height – it is MTD Infraperdana (9768). I hold MTD Infraperdana and strongly believe there is much upside in this counter due to the following reasons:

Toll concessionaire for KL-Karak Highway, East Coast Expressway 1, East-West Link Expressway and KL-Seremban Expressway.
Increasing new residential areas in Cheras, potential 9MP projects in east coast and Visit Malaysia Year 2007. East-West Link Expressway is one of the most heavily used road toll in KL, providing the direct link between Cheras and PJ (Federal Highway). 9MP projects in east coast will contribute higher traffic volume in ECE1. The company will also benefit from the VMY2007, as more tourists will go to Genting Highlands using KL-Karak highway.
Capital repayment of RM0.35. Based on the previous capital repayment experience, I will expect the RM0.35 capital repayment date to be formally announced in two month’s time.
Heavy repair work expected to end by 2H of 2007. This will free up additional cash flow for future cash distribution.
High borrowing? Not a major concern. Though the latest MTN issued in March 2007 balloons the company’s borrowing to RM1.2b, the operating cash flow of approximately RM100m per year is more than sufficient to cover (the concessionaire still has more than 20 years to go).
MTD Capital needs capital to fund overseas projects, especially in those riskier countries such as Indonesia. Most bankers reluctant to give out loans on risky projects. One of the alternatives that MTD Capital can source capital will be having its subsidiary MTD Infraperdana to distribute cash. As a minority shareholder, we can benefit indirectly (refer to BJTOTO’s case).

The DY may looks low now, but as mentioned the management is capable to declare higher dividend due to the toll hike and upon the completion of heavy repair work. Since the downside is limited, I would recommend MTDINFRA a BUY at RM1.11

万发海鲜饭店

2007-05-06T21:47:00.000+08:00

万发海鲜饭店位置于Kajang市镇里, 在旧店屋后的河旁.
如果还是不明白, 就问问那里的人吧(很难描述 ;P)!

万发海鲜饭店

那天我们点了咸蛋排骨, 菜卜非洲鱼, 炒莲藕, 还有一个忘了名字的青菜. 首推当然是咸蛋排骨 – 松软的排骨煮熟了再沾上磨成粉状的咸蛋, 味道强烈芳香! 接下来是菜卜非洲鱼 – 先将菜卜切成细状, 爆炒之后撒满在新鲜的非洲鱼, 再淋上调了味的酱汁, 实在是美味可口.

咸蛋排骨

菜卜非洲鱼

炒莲藕

忘了名字的青菜

看了照片, 是不是很想吃?
(价钱合理, 大约RM10-15一个人)

NEWS - 马桶吞人

2007-04-02T12:43:00.000+08:00

记得几个星期前, 某人一不小心把东西给掉入我家的蹲式马桶"黑洞"里. 害得我到处寻找长长的夹子. 买了回来但却夹它不起来, 而且搞得自己又脏又臭. (晕~)

其实这种蹲式马桶蛮危险的, 那"黑洞"的口张得开开, 什么都吞得下. 星洲最近就有报道一个马桶吞人的故事(如图).

马桶吞人

是不是好恐怖? 我再也不敢摸黑上厕了....

NEWS - 吉華華小（H校）榮譽上榜

2007-04-01T17:56:00.000+08:00

哈哈, 没想到我的小学竟然榮譽上榜, 真是面上有光啊... 哈哈!

* 星洲日報 - 吉華華小（H校）榮譽上榜

STOCK - COMMERZ

2007-03-29T07:58:00.000+08:00

Stock : COMMERZ (5843)
Full Name : Bumiputra-Commerce Holdings Berhad
EPS (cents) : 48.74 (2006); 30.50 (2005)
NTA (RM) : 3.73
Price (RM) : 9.95
P/B (RM): 2.67
Div (RM): 0.15 (2006); 0.15 (2005)
PE : 20 (2006)
Recommend : N/A

这次要介绍的是一间最近风头蛮劲的公司-COMMERZ. 对于这家公司的业务/未来展望我想不用多说(去Download Research来看吧, 多得是!). 这里要强调的是它2007-09的KPI (Key Performance Indicators):

注意! Total shareholders return: Outperform KLCI TSR and FBM100!
这是什么意思? 是不是买进的讯号呢?
嘿嘿, 我不知道...

* 载自TheEdgeDaily 22-03-2007: Headline KPIs of GLCs

拜拜! 我的银马...

2007-03-04T18:40:00.000+08:00

终于到了今天, 我必须向我心爱的银马说声:"拜拜!", 把它以贱价卖给了我的表弟.

这匹马说来可陪伴了我蛮长的一段时间. 自从我第一份工, 就是它载着我到处去跑, 也跟着我从槟城南下到吉隆坡. 记得有一次我用银马载我的一个同事, 她问我为何不换辆新车, 是不是因为银马"banyak berjasa"? 我笑着说是吧!

银马啊, 银马, 你真的是劳苦功高! 我相信表弟也会好好照顾你的.

银马的头

银马的尾

银马的内部

NEWS - Proton/GM Tie-up

2007-01-28T19:00:00.000+08:00

See what BusinessWeek (17-Jan-07) says about the tie-up between Proton & GM:

Proton and GM: An Ungainly Union?

House Season 2 (Final Episode)

2007-01-28T18:28:00.000+08:00

Anyone of you following on the HOUSE? Last week was the last episode of its season 2 in AXN. The last episode is so terrific and I can't wait for the season 3 to be available! Did a search in Google just now and I've found this:

http://en.wikipedia.org/wiki/List_of_House_Episodes

It's so CRAZY! Someone actually update all the HOUSE episodes in the Wikipedia!!!

(psss... you can download HOUSE Season 3 now using BT, it's already OUT!)

Be careful, blogger! (you may be sued...)

2007-01-28T18:12:00.000+08:00

If you do follow local news recently, you should know that two of Malaysia's foremost bloggers have been sued by NST. It has created a huge controversy. You can find their blogs here:

- Screenshots by Jeff Ooi
- Rocky's Bru by Ahirudin

Also, a blog called "Walk With Us" has been created to support these two bloggers... you may just want to find out as well.

童真

2007-01-28T17:40:00.000+08:00

在 JeffOoi 那里看到了这张很可爱的照片, 就把它连接了过来.
其实人生最重要的也不过是过得开开心心, 对吗?
别太在意那些微不足道的事情吧!

港澳六日游 - Day 3

2006-12-25T10:48:00.000+08:00

23 Jun 2006

这天我们依着香港旅游局提供的漫步游路线到尖沙咀去. 途经山林道苏豪. 就如手册所说那里聚集各式各样的美食, 但价钱上也比较贵了些, 所以并没在那里吃. 走着走着就让我们遇上了一间小店, 售卖上海小食, 是一对来自大陆的夫妇经营的. 店里还贴了蔡澜曾经到来的报道. 我们点了上海水饺, 煎饼和豆浆. 味道不错, 值得一试, 价钱也公道.

上海水饺

接着就到了金巴利道, 对面则是栢丽购物大道. 这里的店铺多为本地或国际连锁式服装店. 夏天的香港, 实在是太炎热了. 幸好这里的店铺冷气都开得好大好冷, 成为我们走累了的休息处.

再往下走就是海滨长廊. 这一带有许多好去处, 如: 星光大道, 艺术馆, 太空馆, 文化中心, 前九广铁路钟楼等. 由于时间关系, 只去了太空馆, 然后在文化中心和钟楼拍照. 著名的The Peninsula Hotel 也是在这里. 当然我们的焦点可不是它, 而是在它后边不远, 有一间ESPRIT Outlet, 喜欢ESPRIT 的朋友别忘了到那去. 可能款式不是最IN, 但价钱绝对便宜, 选择也多.

The Peninsula Hotel

前九广铁路钟楼

过后又回到了海滨长廊, 拍了许多照片. 待到8pm左右, 欣赏”幻彩咏香江”多媒体灯光音乐汇演(must watch)

香港的Landmark

晚上我们也去了庙街. 说实在到了那里，心中毛毛的. 路上有许多看相看掌, 贩卖二手货品的檔口. 就连性道具也公开卖, 我的妈! 这未免太公开, 太江湖了吧! 由于感觉很不自在, 很快就转回头了. 我们在那里也尝试了另一个道地美食- 四季褒仔饭+ 蠔饼. 褒仔饭感觉普通, 蠔饼就很好吃, 香香脆脆, 再加上微辣的酱料, Yummy!

NEWS - While Malaysia fiddles, its opportunities are running dry

2006-11-15T19:59:00.000+08:00

MALAYSIA'S been at it again, arguing about what proportion of the economy each of its two main races — the Malays and the Chinese — owns. It's an argument that's been running for 40 years. That wealth and race are not synonymous is important for national cohesion, but really it's time Malaysia grew up.

It's a tough world out there and there can be little sympathy for a country that prefers to argue about how to divide wealth rather than get on with the job of creating it.

The long-held aim is for 30 per cent of corporate equity to be in Malay hands, but the figure that the Government uses to justify handing over huge swathes of public companies to Malays but not to other races is absurd. It bases its figure on equity valued, not at market value, but at par value.

Many shares have a par value of say $1 but a market value of $12. And so the Government figure (18.9 per cent is the most recent figure) is a gross underestimate. Last month a paper by a researcher at a local think-tank came up with a figure of 45 per cent based on actual stock prices. All hell broke loose. The paper was withdrawn and the researcher resigned in protest. Part of the problem is that he is Chinese.

"Malaysia boleh!" is Malaysia's national catch cry. It translates to "Malaysia can!" and Malaysia certainly can. Few countries are as good at wasting money. It is richly endowed with natural resources and the national obsession seems to be to extract these, sell them off and then collectively spray the proceeds up against the wall.

This all happens in the context of Malaysia's grossly inflated sense of its place in the world.

Most Malaysians are convinced that the eyes of the world are on their country and that their leaders are world figures. This is thanks to Malaysia's tame media and the bravado of former prime minister Mahathir Mohamad. The truth is, few people on the streets of London or New York could point to Malaysia on a map much less name its prime minister or capital city.

As if to make this point, a recent episode of The Simpsons features a newsreader trying to announce that a tidal wave had hit some place called Kuala Lumpur. He couldn't pronounce the city's name and so made up one, as if no-one cared anyway. But the joke was on the script writers — Kuala Lumpur is inland.

Petronas, the national oil company is well run, particularly when compared to the disaster that passes for a national oil company in neighbouring Indonesia. But in some respects, this is Malaysia's problem. The very success of Petronas means that it is used to underwrite all manner of excess.

The KLCC development in central Kuala Lumpur is an example. It includes the Twin Towers, the tallest buildings in the world when they were built, which was their point.

It certainly wasn't that there was an office shortage in Kuala Lumpur — there wasn't.

Malaysians are very proud of these towers. Goodness knows why. They had little to do with them. The money for them came out of the ground and the engineering was contracted out to South Korean companies.

They don't even run the shopping centre that's beneath them. That's handled by Australia's Westfield.

Next year, a Malaysian astronaut will go into space aboard a Russian rocket — the first Malay in space. And the cost? $RM95 million ($A34.3 million), to be footed by Malaysian taxpayers. The Science and Technology Minister has said that a moon landing in 2020 is the next target, aboard a US flight. There's no indication of what the Americans will charge for this, assuming there's even a chance that they will consider it. But what is Malaysia getting by using the space programs of others as a taxi service? There are no obvious technical benefits, but no doubt Malaysians will be told once again, that they are "boleh". The trouble is, they're not. It's not their space program.

Back in July, the Government announced that it would spend $RM490 million on a sports complex near the London Olympics site so that Malaysian athletes can train there and "get used to cold weather".

But the summer Olympics are held in the summer.

So what is the complex's real purpose? The dozens of goodwill missions by ministers and bureaucrats to London to check on the centre's construction and then on the athletes while they train might provide a clue.

Bank bale outs, a formula one racing track, an entire new capital city — Petronas has paid for them all. It's been an orgy of nonsense that Malaysia can ill afford.

Why? Because Malaysia's oil will run out in about 19 years. As it is, Malaysia will become a net oil importer in 2011 — that's just five years away.

So it's in this context that the latest debate about race and wealth is so sad.

It is time to move on, time to prepare the economy for life after oil. But, like Nero fiddling while Rome burned, the Malaysian Government is more interested in stunts like sending a Malaysian into space when Malaysia's inadequate schools could have done with the cash, and arguing about wealth distribution using transparently ridiculous statistics.

That's not Malaysia "boleh", that's Malaysia "bodoh" (stupid).

(Extracted from TheAge Australia)

加油! 異常的树

2006-09-18T23:45:00.000+08:00

今晚異常的树将会乘搭飞机到遥远的地方去读书, 实现一直以来的梦想. 心中感到十分高兴, 也很佩服她那勇于放下, 追求理想的精神. 一个人身在异乡生活固然不容易, 但相信绝难不过她. 在那里可要好好照顾自己, 回来时别忘记买些纪念品给我们.

祝福你: 心想事成!

NEWS – 马来西亚人的感慨

2006-09-03T00:10:00.000+08:00

NEWS – 马来西亚人的感慨

就在国家刚刚独立了49年的第二天, 读到了这篇朋友转载过来的文章. 心里既感慨又愤怒. 究竟要到什么时候, 国家领袖才可以从”马来西亚人”的角度去思考, 停止一切狭义偏激的种族歪论呢? 吉隆坡和槟城有大把开着大房车的巫籍同胞, 也有着许多穷困的华籍和印籍! 我们需要一个可以不分种族, 公平照顾, 正视问题的政府.

明年就是国家独立50周年了. 下一个50年的马来西亚, 又会是一样的吗?

Link - 凱里：確實被邊緣化, 檳剩浮羅山背有馬來人
http://www.sinchew.com.my/content.phtml?sec=1&artid=200609021168

STOCK - KPS

2006-08-23T10:21:00.000+08:00

Stock : KPS (5843)
Full Name : Kumpulan Perangsang Selangor Bhd
EPS (cents) : -19.50 (2005); 15 (2006, annualised)
NTA (RM) : 1.99
DY : 6.25%
Price (RM) : 0.48
PE : - (2005); 3(2006, forecasted)
Recommend : BUY, Target >RM0.58

Subject: KPS - Cheapest Entry for the exposure of Msia Water Concession Business

Reasons
--------
1. Hold stakes in various state water concession companies, such as Taliworks, ABASS & SPLASH. Potential to benefit from the 9MP and any water price hike
2. Taliworks has adopted a dividend policy of paying out at least half of its net profit as gross dividends for the next three years. KPS has also taken control of ABASS, which it will have control in the future profit distribution. This will improve KPS future cash flow - hence reduce interest charges and increase dividend payout
3. KPS has been positive in participating in the Langat II project and West Coast Expressway. These projects however are still awaiting finalisation agreement by the authorities - futher potential upside?
4. Recent announcement of PKNS to taking Worldwide private. KPS is the 2nd largest shareholder of Worldwide
5. Backed by PKNS

Risk
----
1. Management failed to turnaround
2. National water policy turns out to be unfavourable to water concession players
3. KHSB makes further losses as a result of softening property market

Conclusion
----------
Management past decisions such as taking control of ABASS, disposing money-losing business, and writing down the property value for KHSB in 2005 (resulting a huge loss) are viewed positively. The management seems no longer want to take a passive role and would like to turnaround KHSB. Current price of KPS is almost 75% discounted from its NTA. I think market has basically "write-off" KPS entire property arm.

With the increasing population in Selangor and more projects obtained by Taliworks, the contribution from associate companies to KPS will be growing significantly in the future. At RM0.475, 6.5% dividend yield, KPS has very limited downside. 1Q06 KPS's property arm has managed to turn into black. Although amount is insignificant, it's a positive indication of the management's effort. Privatisation of Worldwide will bring in additional cash. KPS is also likely to benefit from the 9MP. With so many favourable factors, I'll recommend KPS a BUY with a target of >RM0.58. As long as its property business remains in black, I don't see the reason for the price to go down further.

Disclaimer: This report is brought to you by 大脚Y, an unlicensed investment adviser. Please exercise your own judgment or seek professional advice from your remisiers. I am not responsible for your investment decisions.

IT - Reduce BT HDD activity

2006-08-22T13:40:00.000+08:00

(这是我无意间在网络上找到的, 忘了是那个网站)

BT使用者都知道一旦打开BT, 硬碟就会变得很忙碌, 这样一来长期会对硬碟造成一定的磨损. 要减少BT的伤害而不损下载的乐趣, 最简单的办法莫过于修改Registry了.

1. Goto START-RUN
2. Type "regedit", ENTER
3. Go to HKEY_LOCAL_MACHINE --> SYSTEM--> CurrentControlSet --> Control --> Session Manager --> Memory Management --> IoPageLockLimit, change the hexadecimal value to 4000
4. If you don't see IoPageLockLimit, create a DWORD with the same naming, put in the hexadecimal value as 4000

* You may set the value higher than 4000, depending on you system memory available.

FINANCE - Growth Theory

2006-08-09T18:08:00.000+08:00

Today just when I was reading through my CFA Level 2-Equity Investment, I came across this paragraph of Growth Theory, which I would like to share with everyone.

GROWTH THEORY
"If we're doing a global industry analysis and looking for factors that distinguish high growth economies, we want to look for countries that do one or more of the following:

1. Encourage high savings and high capital investment rates
2. Emphasize the development of human capital
3. Stablize the macroeconomic environemnt through balance budgets and tight monetary policy
4. Encourage free trade
5. Provide an adequate legal system
6. Encourage low population growth
7. Foster technological advancement, particularly in wealthy countries
8. Borrow technology in poorer countries

Countries that succeed in implementing these policies usually reap large economic rewards in form of high economic growth."

---------------------------------------------------------------

In my opinion, Singapore has fulfilled most of these conditions. How about our own Malaysia? How does she fare in these areas...

IT - Trillian Basic 3.1

2006-07-23T01:46:00.000+08:00

记得上一次我使用Trillian已经是X年前的事情. 那一次的经历并不好 - 当时Yahoo, AOL & MSN都在为Instant Messager(IM) 争得你死我活, 都纷纷把port给封了, 导致Trillian无法连接上它们的server. 今晚无意间在Download.com又遇上了它, 就索性将它下载试用, 看看有什么进步.

结果在使用10分钟内我已有了决定: 从此使用Trillian Basic!

好处:
1. 可同时连接Yahoo, MSN, ICQ, AOL & IRC
2. 使用的System Resource超低
3. 没有Advertisement
4. 支援Voice & Video Chat

坏处:
1. 不支援一些专属的IM功能, 比如Yahoo LiveCast

结论: 强力推荐!

港澳六日游 - Day 2

2006-07-20T12:57:00.000+08:00

22 Jun 2006
今天的目的地是天坛大佛和迪士尼乐园, 它们都在大屿山. 一早我们就出发, 到旺角MTR附近的银龙茶室享用早晨. 点了艇仔粥+食油王炒面, 味道还不错. 接着就乘地铁到东涌.

天坛大佛
到了东涌地铁站, 可以选择乘搭23号巴士 (1小时) 或缆车去昻平天坛大佛. 佛像高26米，重220公噸，坐於三層祭壇上，是世界上最大的青銅座佛. 它的梯级很高, 爬上去还蛮吃力的. 我们去的那时候正好是夏天, 没有乌云, 可以清楚的拍下大佛的一面. 宝莲寺有提供素食午膳或素食小点. 我们叫了斋米粉和豆腐花. 豆腐花是用山水所制成, 味道香滑可口.

天坛大佛

围绕着大佛的小菩萨

东涌地铁站
我们又回到了东涌地铁站. 去了附近的一个购物中心, 发现里面有Nike和Adidas的Outlet. 里面卖的鞋和背包都非常的便宜, 店员也非常亲切, 值得一去. 我买了一个背包而大虾则买了她心爱的"三条线". 过后就乘MTR到欣澳 - 迪士尼乐园.

“迪士尼”MTR

迪士尼乐园
香港迪士尼乐园如今已取代了海洋公园, 成了香港必到的旅游点. 比起美国迪士尼乐园, 这里的显得小得多, 半天就可走完了. 成人入门票大约是HKD300左右. 踏入迪士尼乐园就像进入了迪士尼的世界, 四周的建筑物设计都像童话般. 值得推荐的是唐老鸭的立体电影, 在戴上特殊的眼镜看去, 仿佛唐老鸭就”活生生”的出现在眼前. 每天下午三时有迪士尼游行, 晚上八时则有烟花节目, 别错过.

米奇和米妮老鼠

迪士尼游行

“巨人型” 米奇

小矮人滑溜轮

泰山的森林远眺

夜晚的迪士尼

麦当劳猪肉汉堡包
呵呵, 这里的麦当劳有售卖猪肉汉堡包喔! 我们今天的晚餐就是它… 味道还瞒特别.

(待续...)

港澳六日游 - Day 1

2006-07-17T13:30:00.000+08:00

一开始想要写部落格全都是因为想好好把这港澳六日游给记录下来. 怎知忙呀忙, 到了今天才真正动笔. 这次的旅游只花费越两千零吉, 可说是便宜多了, 这可要感谢亚洲航空(AirAsia)的免费班机. 接下来要介绍香港和澳门的一些观光地点, 想要自足旅行的也可作为参考. 大马国际护照在香港和澳门是被接受的, 不需另外申请Visa.

20-21 Jun 2006
在purplechopstick的介绍下, 我们乘撘了SkyBus从KL Central至LCC Terminal (亚洲航空是在LCCT不是KLIA), 单程只不过RM9, 班次又多, 蛮方便的. 飞机于10.30pm起飞, 2.15am左右抵达澳门国际机场. 亚洲航空的飞机有够狭窄(不能要求太高, 廉价航空嘛), 坐得并不舒服, 除非是为了便宜, 不然老人家实在是不适合. 这里提醒大家如果你们是在凌晨时分抵达澳门机场, 记得要携带一些食物充饥 - 那里的机场是没有24小时商店的! 只有汽水贩卖机(只收硬币)而已. 我们就在机场里休息直到早上乘坐巴士到大三芭. 在澳门港币是通用的.

澳门其中一个交通圈的设计

大三芭
到了澳门市议厅下车, 沿着海浪状的砖走就会抵达大三芭牌坊. 它曾经是个繁盛的基督中心, 有教堂学园等. 如今所见到的只剩大火焚烧仅存的一道墙而已. 一路上可以品尝到澳门的一些美食如: 黃枝記虾子面(面条好Q, 用竹杆敲打制成, 强力推荐), 義順燉奶(冰爽浓郁的牛奶制甜品, 棒!), 猪扒包和杏仁饼. 吃后我们就搭巴士到澳门港口, 乘坐渡轮到香港去. 建议新渡轮澳门, 船只较大没那么震荡, 成人收费大约HKD140-175.

澳门大三芭

簧枝记虾子面

義順燉奶

澳门正牌猪扒饱售卖处

香港
抵达香港尖沙咀 - 中國客運碼頭. 香港果然不愧是亚洲四小龙之一, 建筑物高耸如云, 人潮四处, 生活步伐也比大马快许多, 感觉上这个城市充满着无限的生命力. 由于一整天抬着行李好累, 我们就直接搭MTR到旺角, 寻找我们的住处 – Anne Black Guest House. 基本上它算是个不错的住宿, 虽谈不上什么华丽装饰, 但绝对卫生, 收费合理, 周围环境不复杂. 10-15分钟的步行路程从旺角MTR, 附近有Welcome (百货公司)和许多饮食小店. 我们睡到傍晚, 就步行到女人节去. (是的, 在香港是要走好多的路, 就连街上五六十岁的阿伯阿婶也一样)

Anne Black Guest House

女人街(通菜街)/波鞋街(花园街)/西洋菜南街
这三条街是相隔和平行的, 为什么都是菜名? 我不知道… 这里有很多的道地美食如: 咖喱鱼蛋, 牛肉丸, 鱼串, 珍珠奶茶, 车仔面等. 尤其是香港云吞, 虾肉新鲜, 在精心的调味之下, 非试不可. 女人街有点类似唐人街, 有许多的摊口卖着各式各样的商品, 要避免被砍菜头就要看你杀价的本领了. 我买了一个电脑用放手腕的蜡笔小新. 可爱吗?

热闹的夜间旺角

我的手腕蜡笔小新

(待续...)

大脚丫的照片

2006-07-16T16:56:00.000+08:00

大脚丫的照片是从Google Image Search里找到的 - 它实在是太强了! 只需要输入你要的字眼, 它就能搜出有关的照片. 如果没记错, 也因这样Google惹了场官司. 大家可以试一试.

还记得大专生活时的我们吗

2006-07-16T01:49:00.000+08:00

前几天送了猪仔到机场, 索性就去了一个我已好久没踏上的地方:汝来(Nilai). 伸出手指算一算, 已经有五年的时间了. 我驾着车载着大虾头, 回去了校园(英迪学院), 也回去了以前所住过的地方(Desa Cempaka & Sri Cempaka). 看着那些来来往往的学生, 仿佛见到了以前的我们. 过往的回忆一阵阵的在脑海里鲜明地浮显了出来, 心里感触良多, 就像人们常说的: "物是人非"

各位, 谢谢你们. 这三年的大专生活, 无论是喜是悲, 它的确是在我人生道路上给了我许多的认识, 我会好好记着的. 尽管大家现在已各分东西, 逐渐疏远, 希望大家都能在未来的路上成功, 幸福快乐!

*****

1. 英迪学院后面起了好多的屋子和店铺, 住宿舍的学生现在有更多选择了.
2. 那间在新汝来镇售卖美味的咖哩面/福建面的店已经不见了!
3. 记得那间锁头坏了被关在屋里的那个组屋吗? 楼下依然是旺朝饭店.
4. 还有关起门来追打猫儿的单层排屋, 好像依然是租给学生, 但是屋子却残旧了许多.
5. 汝来在这五年来真的真的...... 变了很多 :)