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February 10, 2010
Will the Magic of Kuch Kuch Hota Hai Return Here?
The story-line of the new movie,"My Name is Khan" is nothing unique.
He grew up with his mother in Mumbai. As an adult Rizwan now played by Shahrukh Khan, befriends Mandira, a single mother and fell in love with her. Kajol plays Mandira, a Hindu who lives in San Francisco.
And as it came to passed, authorities in America arrest Rizwan after interpreting the visible aspects of his condition as "suspicious" behaviour. This is a clever twist, I think.
After his arrest, he meets Radha, a therapist who helps him overcome the his condition and ordeal.
Rizwan then begins a journey to find and meet President Barack Obama to clear his name.
A bit melodramatic,don't you think?
It tells of a story of Rizwan Khan ,a Muslim child with Asperger's syndrome, a sort of autism.
He grew up with his mother in Mumbai. As an adult Rizwan now played by Shahrukh Khan, befriends Mandira, a single mother and fell in love with her. Kajol plays Mandira, a Hindu who lives in San Francisco.
After his arrest, he meets Radha, a therapist who helps him overcome the his condition and ordeal.
Rizwan then begins a journey to find and meet President Barack Obama to clear his name.
A bit melodramatic,don't you think?
I do hope the chemistry of Sharukh Khan and Kajol still can spellbind us in this new movie. I would also like to hear more melodies and dance acts from both Sharukh and Kajol.
RWS: No Joint Opening of Casino and Theme Park
As Chinese New Year roars in on Sunday, preparations is underway at Resorts World Sentosa (RWS) to open its casino tables on Chinese New Year Day.Those seeking the thrill of theme park rides will have to wait a little longer.
Media reports this week had speculated that RWS’ casino and Universal Studios theme park will open in time for the festive holidays.
MediaCorp understands that Universal Studios Singapore will throw open its gates a few weeks later after it completes the final safety checks.
Responding to queries, RWS spokesman Robin Goh said: “We are on track to opening the theme park in the first quarter of 2010.”
Analysts said that while the ideal situation is for both the casino and theme park to open at the same time to capitalise on the CNY holidays, RWS can still expect to reap dividends from opening the casino first.
Chesterton Suntec International head of research and consultancy, Mr Colin Tan, said: “To hold back the casino means they lose money, so it’s better to open as early as possible to start earning money.
“Chinese New Year is the best time to open. That’s when they get the most publicity. It is also nice to start the New Year with a casino.”
But with the weekend inching closer and no firm date for the casino opening announced, it may now be too late for tourists to fly in to gamble at the RWS casino.
Travel agents told MediaCorp that flights to Singapore over the weekend were full. While there are still hotel rooms available in the city, hotels in Sentosa are fully booked for the weekend.
Alicia Seah, CTC Holidays’ senior vice-president of marketing and public relations, said she expects visitors to RWS this weekend to comprise of mainly Singaporeans — instead of tour groups whose travel plans would have been firmed up for the weekend.
Perhaps Malaysians?
Malaysia: Exemption of 40 Items from GST
Today, the Finance Ministry has assured that some 40 basic goods and services will not be subjected to the new (GST).These would include basic foodstuffs, residential accommodation, health services, public transportation and domestic consumption of water and electricity up to a certain limit.
The government will also at the same time introduce an anti-profiteering law to ensure that businesses do not try to gain unjustifiable profits from GST.
The Najib administration is proposing the implementation of GST to broaden the government’s tax base and raise revenue.
In the region, only Malaysia, Brunei, Myanmar and Hong Kong have not implemented GST.
“If 143 countries have done it, why not us?" said Husni, the Second Finance Minister.
There has been some public concern that prices would be much higher post-GST implementation but Husni said that according to government calculations, the consumer price index, a measure of the inflation rate, would be lower.
Dr Zakariah Abdul Rashid, executive director of the Malaysian Institute of Economic Research (MIER), said that GST will not result in higher prices across the board but will be lower in some categories and higher in others.
He acknowledged however that GST will incur higher compliance costs but tax leakages will be reduced through more thorough auditing.
He also said that experience in other countries showed that consumers would stock up on items perceived to go up in prices ahead of GST but it would be a temporary effect.
“Consumption and growth returns to normal after a short period of time,” said Zakaria. “GST will result in a one off change in aggregate price level.”
He also suggested that the government provide rebates to cushion the effects of GST and that through GST, other forms of tax such as corporate and income may be reduced.
Husni said that the government would continuously look at ways to make Malaysia’s tax structure regionally competitive.
“We have reduced our corporate tax and we have shown to be willing to reduce personal income tax in specific instances (Iskandar),” said Husni. “The GST therefore should be seen as an integral part of the country’s economic strategy.”
As usual, it's Malaysia Boleh until it leaves a bad taste in the mouth!
Malaysia: The Tuition Issue
The words in parentheses are mine.
"A few weeks into the school term and I have already received quite a few phone calls from parents regarding after-school tuition. The last few years, I did offer homework assistance and extra coaching after school, but since I am now working in the afternoon session, I decided not to offer that help this year. Work is taxing and can be quite stressful, what with adjusting to the new environment, etc, I feel like I could make do without the extra work tuition will bring me. [ I know it is a big task to teach and do administration duties at the same time. It's now time for the MOE to have more administrative staff to help teachers out].
Tuition seems to be a major concern for parents these days. If school teachers offer tuition classes, you can bet that the students will be scrambling to fill up the classes, especially if he or she is known to be a great teacher. Someone who is a ‘Guru Cemerlang’ (Excellent Teacher) or has been teaching for a long time usually can, and will charge more. Their classes would be much sought after and if the students produce great results, which in Malaysian context means a long string of As, then you can bet your top Ringgit that more students will register for the next school term.[Self-fulfilling prophecies?]
During my first year of teaching, I decided to just wait and see, and learn more before even considering giving tuition. I was after all just a new teacher, and felt that my inexperience and lack of familiarity with the exam formats would not be fair to the students.
So I decided I would make do without the extra work giving tuition would entail. Although the money made from giving tuition can be quite lucrative, I still think I need some time to recover from school since school, if you know it, can be quite a madhouse. [With today's quality of principals,what more can one say?]
And now, since I work in the afternoon session and usually do not come home until after 7 pm, teaching tuition at 8.00 pm would be an almost impossible thing for me. I need my time to rest, have dinner and of course, to prepare for the next day’s lessons. Teaching tuition would not let me have all that.
But since tuition to parents is like water to the thirsty, they usually will keep asking, hoping I would change my mind and maybe reconsider. They want it, they yearn for it, and they will try their best to have me agree to give their child tuition. Some even want me to give tuition to their Year 1 child, which I said no to, because I think a seven old year should be allowed to play and just be a kid and should not be made to work hard.
Of course, parents always want the best for their child, and since they have more resources now, they would pay top dollar to give their child the best. Even if it means paying RM200 per month just for six hours of one-to-one English (like one of my neighbours do), they would do it. And mind you, that is just for one subject. Factoring in all the four subjects they have to sit for in the UPSR exam, imagine how much parents actually pay for their child’s monthly tuition fees alone.[ It is not just the money. The poor student will be dead tired after school, extra curricular and the tuition classes!]
There is another side to the argument: that too much tuition is not good for the child because they work from morning to night and barely have time to rest and play like children should. It also means that maybe they thought my teaching might be so bad that these kids would need extra help with their English!
To some extent, I agree that rather than being at home doing nothing, they could go for extra classes, so they would be doing something worthwhile with their time. But maybe, perhaps, we should allow our children a moment to just rest, to take in the day as it comes, so they could relax and focus on being still for a little while? [ I have just highlighted this in the earlier paragraph.]
Their days are often very long. Our school starts very early in the morning and usually the kids would have homework accompanying them home each day. Every day, watching the kids walk home I often wonder how they feel about all the school work, all the extra work they have to do.
I remember my childhood as being rather carefree. I was allowed space to run around, ride with my bike and play with my friends in the evenings, and still had time to do my homework. Kids these days seem to not like physical activities so much. They would rather do something sitting down which to me seems unnatural. Kids are supposed to love running around and they should not hate sports and physical activities. It is just mind-baffling to me. [Yes, and then there are those who are glued to their PC to play computer games!]
One thing is for sure, things have definitely changed. A long string of As can no longer guarantee a place at the university or a scholarship. The society demands so much more from the younger generation that they now have to equip themselves with a lot of skills just to get ahead.
We want our future leaders to be excellent leaders, to have great soft skills, to be smart and eloquent and to be civic-minded enough to know what the society wants and needs, and to carry out their duties with responsibility and integrity. The society glorifies those with long string of As and so at a very young age, we prepare our kids for the work, so they will someday end up with those long string of As.
Whatever their reasons, I feel for the parents. They are the ones who have to make the choice, whether to send their children for extra classes or not. They are the ones who have to pay the tuition fees each month and make sure their child gets to their tuition classes on time.
Parents do an awful lot for their kids and I do salute them for caring and wanting their kids to have the best, to be the best and to shine in academics, but maybe we should give them some room to breathe and just be kids. After all, all work and no play make Jack a dull boy."
A Star reader-contributor
So it looks like this tuition thing is a forever thing,don't you agree?
Pantech's Generosity to Minority Shareholders
You have to respect this company. They spared no expenses just to pass 9 resolutions at an EGM that was mainly for the issuance of an ESOS for staff and directors of Pantech Group Holdings.
And if want to know how to treat shareholders well, look what this company has done. Morning coffee was expresso and tea and a fine selection of cakes.
The afternoon lunch at the Sun N Surf was super, to say the least. A full spread of international buffet which would have cost you RM55++ was yours for the taking. It ranges from roasted baby lamb,lamb chops, yee-sang, flower crabs, tiger prawns, fresh oysters,Japanese food, curries and fruits and desserts. There was also two types of soups to choose from-onion soup or asparagus.
Everyone had their feel. We felt good to be the shareholders of Patech. Who wouldn't with such treatment!
India: Growing Faster in 2009/10
We have been having good news from East Asian economies lately on their potential growth in the current year.
This Reuters report indicates that India’s economy will grow faster in 2009/10 more than what the government has forecasted. This was announced by Pranab Mukherjee,the finance minister fueling expectations that a strong recovery would lead to tighter fiscal and monetary policy.
A top economic adviser said plans for an exit from stimulus policies may be in the national budget on Feb 26, and the deputy governor of the central bank said reforms were needed to sustain growth in a weaker global environment.
Economists said the finance ministry and the central bank were betting on better-than-expected growth in the second half of the current fiscal year, which ends in March, and markets have firmed up their expectations for a rise in official interest rates.
Finance Minister said the economy would grow 7.75 per cent in 2009/10, slightly above the central bank’s view and higher than a forecast of 7.2 per cent issued by the government’s statistical office on Monday.
“Overall the growth number seems ambitious as the investment cycle won’t pick up and agriculture will be hit in the second half,” said Sujan Hajra, chief economist at Anand Rathi Financial Services.
“However, on the inflation side, concerns have not yet been solved,” he added.
Asia’s third-largest economy has been picking up momentum since mid-2009, and data on Friday is expected to show industrial output grew an annual 12 per cent in December.
At a policy review last month, the central bank increased banks’ reserve requirements but held key interest rates steady.
Analysts expect a rate rise at or before the next review in April, and the 10-year bond yield equalled its 2010 high today as traders positioned for tighter policy.
Attention is increasingly focused on the budget, with investors looking for signals as to how the government plans to cut a budget deficit forecast to hit a 16-year high of 6.8 per cent of gross domestic product in 2009/10.
The government has been reluctant to commit to withdrawing stimulus steps such as spending and duty cuts which it took since late 2008 to shore up the economy against the global crisis, in case it derailed confidence in the recovery, but there are some signs it thinks the recovery is firmly based.
Since December 2008, India has announced stimulus packages equalling about 12 per cent of GDP to boost infrastructure and support economic recovery.
“The budget can attempt a roadmap for exit,” C. Rangarajan, chairman of the prime minister’s Economic Advisory Council, told reporters on Wednesday.
Strong growth could ease pressure on the government’s finances by easing welfare spending and increasing tax receipts.
A finance ministry source on Wednesday said gross market borrowing in 2010/11 was likely to be within the current year’s record 4.51 trillion rupees (RM332.8 billion).
The government has said it wants to get the US$1.2 trillion economy back to growth rates of around 9 per cent seen before the crisis, but inadequate infrastructure has long been an obstacle to sustained high growth.
Further, a lack of financial sector reforms means local markets cannot produce the funding needed to upgrade poor roads, ports, railways and airports.
Reserve Bank of India Deputy Governor Subir Gokarn said domestic reforms were needed to offset the changed global environment, and infrastructure investment needed to be accelerated.
“We will need to see a huge amount of frontloading of investment in infrastructure, a lot of which will come from outside because of the fiscal constraints,” Gokarn said.
That could impose significant pressures on managing capital inflows, he said.
Looks like this is real growth and no longer a mirage.
Malaysia: Pay Less with GST?
Is this an assurance? Need we speculate no more?According to Kamariah Hussain, the Chairman of the Tax Review Panel in the Ministry of Finance, this is so.
The implementation of the Goods and Services Tax (GST) based on current estimates, will not lead to price increases due to the offset from the abolishment of the sales and services tax (SST).
She said logically, with GST, consumers would pay 4.0 per cent tax compared with the current service tax of 5.0 per cent and sales tax of 10 per cent.
“GST is progressive rather than regressive, with tax incidence at the 4.0 per cent GST rate being lower than the current SST,” she said at the Affin Investment Bank forum on GST here today.
For instance, consumers currently pay about 2.8 per cent in tax in the prices of goods purchased but with GST, the tax element will be reduced to 2.5 per cent.
With GST, price should decrease as registrants will be able to claim on GST incurred on their inputs, she said.
“We really hope industries will pass on these savings to the consumers,” said Kamariah.
She said the Ministry of Domestic Trade, Cooperative and Consumerism is coming up with a regulation to address issues of businesses taking advantage and keeping the savings to themselves instead of passing on savings to consumers.
“We are really taking care of the lower income group and ensuring that this lower income group will not be affected by the GST,” she said.
However, the implementation of GST will not only benefit the lower income but is expected to be enjoyed by the whole “rakyat”, she said.
In terms of tax collection for the government with the GST, she said the government is expected to collect less revenue with the replacement of SST with GST.
The government currently collects a revenue of almost RM11 billion to RM12 billion from SST. However, under the GST system there will be an estimated shortfall of RM1 billion in revenue, she said.
In order to collect the same amount, the government would have to impose a 4.2 per cent GST rate, she said.
The less collection means more savings to consumers, she added.
More than 140 countries have implemented GST and Malaysia needs to introduce GST due to “inherent weaknesses” in the current consumption tax, said Kamariah.
The proposed GST model is a broad-based consumption tax in the form of value added tax and it covers all sectors of the economy as well as imposed on the supply of goods and services.
Earlier reports have said that the government aimed to fully implement the GST in mid 2011.
Do you find her explanation acceptable,palatable and believable?
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