July 07, 2012

The True Life of a Commissioner of Oath

Not Really Exciting Job, lah!
As Loyar Buruk puts it in an earlier posting,in his own laughable treatment of this subject, I would like to tell you a story in the life of a Commissioner of Oath(COM).

I do not believe the comparison of a COM with the other Commissioners is apt on almost all counts. While the others are almost ordained full-time occupations with fat pay and a platoon of workers to boot, COMs are lowly paid, providing a much needed community service on behalf of the courts.

The COM is a humble person doing his 'business', if ever that could be called. He is an extension worker of the court system; an adjunct of sorts.

Granted the poor man's rate of only being paid RM4 per document for the work he has to do and all the obligations he has to carry out if he is not to fall foul of the COM Rules, 1993, he is indeed a wretched creature eking out a humble  living while the government pour and heap revisions upon revisions on doctor's salaries and allowances. That goes for nurses and particularly police, army and teachers.

The rates are overdue for a revision ages ago and yet no one cares about the poor plight of the COMs. The process can be tedious and not what Loyar Buruk under-represented. Just take the laborious process of oath taking for the documents that needs to be formally administered by a COM. This include explaining the contents to the blind, illiterate as well to those who do not understand the language in which such documents are written in. Inter-language translation and interpretation may also be involved. A lot of patience,Loyar Buruk!

A fair rate would now be in the region of RM6 for an original affidavit or affirmation and other such documents that needs to be administered by oath. The attached exhibits should similarly be set at RM3 a piece and they also go through a similar process. For  duplicates, it should now  be at RM4 apiece with copies of exhibits at RM2.

Why the need for this revision? Grossly overdue!

The rental of a small office or even a small corner of a secluded one now cost minimally RM350 in a city such as in Kuala Lumpur or Petaling Jaya, Subang Jaya and possibly as far as Klang and Kajang. Just eating lunch in such places could damage your pocket by RM10 these days. No, Chatime, my friend-too expensive!

Speaking to a friend who happens to conduct his business in one of the suburbs of Petaling Jaya, he tells me honestly, he makes about RM1,000 or so a month after deductions for all overheads from rentals, land-line and mobile phone bills. That would not include bus fares as he cannot pay monthly parking on the meager takings as a COM.

Those who have choice offices located near government departments such as court complexes, National Registration Department offices, Immigration, customs etal  can make 'more money'. Sometimes as much as RM3,000. But then, how lucky are you without those connections and cables?

Then there are rules to follow when you conduct a COM business. These rules are water-tight such as how you should be dressed, what should be affixed to your office wall and procedure galore that you must lead the customers through before administering the oath, sealing and signing the deponent's documents.

Also, watch that uncalled for business just about time you choose to close the office which delays your departure for home. The other thing are those pesky lawyers who want you to sign documents without the presence of deponents and some who lure you to their office to administer the oaths there.

According to my friend, he had better experience with accountants and company secretaries.(No offence to lawyers!).

Then, there are also those shock and awe visits from officers of  the courts. If, you are not there at the office at that time, woe betide you! This cat and mouse game is played to catch you with your proverbial trousers down.

If on that day, you do not have your name tag on; your register has yet to be in order,  your signboard is off the approved dimensions,and your  appointment and duties documents are not affixed on the wall, you will likely get a nasty report that could lead to your suspension and permanent revocation as a COM.

So, what does a COM do everyday at work? He reads his hard copies of "The Star" or " The News Straits Times" forward and backward and from bottom to top and from top to bottom. If he is an investor, he follows the snail-paced stock market movements on his iPAD; and keep on drinking tea (of many sorts) and running to the toilet;and eating biscuits to fatten his 'money bags' around his waist while awaiting for lunch hour and time to close office. A poor life this is , no time to stand and stare......

Yes, it will be a dull life and is only suitable for retirees. You also have to pay RM120 per year to be a COM at work. Duit lesen of sorts, faham? Each extension or reappointment if you are successful,will be for another 2 years.

Do not be a guarantor for you may end up in a bankruptcy proceeding and do not be an intrepid investor and get involved in petty  crimes accusations particularly deceit and cheating.

Mere proceedings may dent and annihilate your 'short  COM career' forever.

Also once you reach 65 years they will retire you for the second time. Unless the Chief Justice extend your service; which is unlikely.....


Belittling the Commissioner for Oaths?

Chopping Man?

Loyar Buruk in the Selangor Times dated July 6-8, 2012 has an obtuse wit or unforgivable scorn towards Commissioners for Oath.


A query from a Walt Whitman, via email, possibly an imaginary modern-day missive went like this.


Lord Bobo, 


What is a' Commissioners for Oath'?It sounds very grand but I understand all that they do is sign photocopies of documents to make them certified true copies. What else do these commissioners do? I'm considering my career options and looking for a career involving monotonous tasks that I can attend to between writing poetry, and to bring in a steady income stream.


This is the answer proferred by the Lordy Bobo from the Comedy Courts of Mirth.


Here goes:


On a scale of 1-10, on the power scale,  a Commissioners for Oath (COM) ranks a big zero.


Unlike a police commissioner,commissioner of census or commissioner of law revision-who are all in command of the many competent and intelligent men and women of rank, and do important stuff for the nation, a COM has only his chops, record book,badge, and trusty signing pen at his command and sits around waiting for customers a lot.


It is a position often given to retired civil servants,,current government officers entrusted to administer oaths, or very ambitious lawyers.As his powerfully sounding title suggests, he has the power to administer oaths.


Although he is most famed for administering oaths when someone affirms an affidavit and taking and receiving statutory declarations ( a sworn statement), he can do other things too depending on his underlying role.


If he is also an advocate and solicitor,he can receive acknowledgement of married women when it is required by law, receive acknowledgement of bail and bail bonds, administer oaths for justification for bail, oaths for examination of witnesses and swearing of executors and of witnesses in a court action.


Aside from that, a COM would have long thoughtful discussions with the dispatch or customers who seek his services, eat a fair deal of unhealthy food, sit on hsi rapidly expanding posterior due to the lack of exercise and grow pretty cynical about life.


He would however cultivate the awesome ability to burst-sign something like 60-70 pages per minute for about 10 minutes. that is not an ability  to be looked down upon. Not many humans or even wonder monkeys can do stuff like that.


As for career options, you'd best keep that day job, even if it's writing poetry no one reads. His fee's is just RM4 per affidavit and RM2 for each copy of an affidavit (not sure why since he has to sign it the same way with the same ink as the first. It's not like he can just dot the rest since he gets a lesser rate). It's also RM2 per exhibit and RM1 for each copy of the exhibit.


A COM gig, however, would suitably complement a food stall business like nasi lemak  or various kuih.


Take note however that you cannot affirm the awesomeness of the food you are selling. That's a flagrant conflict of interest. So keep it fragrant.


I will write some of my thoughts raised by loyar buruk in another posting.



Jessica-A Potential Kim for Miss Saigon?

More Positive and Confident

I think the entertainment world sees Jessica Sanchez as value in acting now.

Even when on tour with the other 10 finalists of the last season's American Idol, she is already hard at work recording for Interscope recording.

More interesting is the producers of 'Glee' are creating a character for Bebe chez  on their show. I think this will be a win-win for both Jessica and the show.

Most interesting is that Jessica is one of two persons  pipped for the role of Kim in the film version of Miss Saigon. The other person is Charice.

To me, Jessica is more slim and lithe to play the part of Kim and she has that sweet sexy smile and her moves can wow you!

Anyway, let the jury decide on that!

The Amazing Spiderman

Love with a Masked Crusader

Truly fascinating in 3D, watch this movie and see how special effects plus 3D can make a movie with a rather   simple story-line quite unforgettable.

The 3D in Titanic was good but not so in Star Wars 1: The Phantom Menace. It was better in Wrath of the Titans.


For  this Spiderman outing, catch Andrew Garfield and the adorable Emma Stone light up the screen. Superb swinging amidst the legendary tale of how Spiderman lost his parents and how gentle Uncle Ben was killed. The fight with the Lizard was godzilla-like.


I enjoyed the movie. Do catch it at a nearby local cinema but in 3D!

What You Should Know of YTLPower International Warrants




Powering the YTL Group

Please read this when buying YTL Power International which should be on offer soon.

YTL Power - WB

Profile for Warrants

Instrument Type : Warrants
Description : 1,776,371,304 2008/2018 Warrants to subscribe for new YTL Power Shares
Issue Date : 12/06/2008
Issue Size in Unit : 177,6371,304

Listing Date : 18/06/2008
Maturity Date : 11/06/2018

Revised Maturity Date :
Exercise/Conversion Period Type : 10 Year(s)
Revised Exercise/Conversion Period Type : 0 Year(s)
Issue/ Ask Price : MYR 0.1000

Exercise/ Strike/ Conversion Price : MYR 1.2500
Exercise/ Conversion Ratio : 1:1

Mode of Satisfaction of Exercise/Conversion Price : Cash
Settlement Type/ Convertible info : Physical (Shares)

Paka Station
Remarks : The 2008/2018 Warrants are issued at an offer price of RM0.10 per
2008/2018 Warrant pursuant to the offer for sale of up to 2,205,127,393
provisional rights to allotment of 2008/2018 Warrants on the basis of one (1)
2008/2018 Warrant for every three (3) existing ordinary shares of RM0.50 each
in YTL Power International Berhad ("YTL Power Shares") held as at 5.00 P.M. on
15 May 2008.

Seraya Station Singapore
The exercise price of the 2008/2018 Warrants stated above of RM1.25 ("Exercise
Price") is applicable for the exercise of the 2008/2018 Warrants at any time
from 12 June 2008 up to 11 June 2018 ("Exercise Period"). The Exercise Price
may from time to time be adjusted upon the occurrence of certain events in
accordance with the Deed Poll dated 5 May 2008.


Water Power in the UK
Each 2008/2018 Warrant carries the entitlement, at any time during the Exercise
Period, to subscribe for one (1) new YTL Power Share at the Exercise Price as
stated above per YTL Power Share, which shall be satisfied in cash. Any
2008/2018 Warrants not exercised during the Exercise Period will lapse and
thereafter cease to be valid for any purpose.

July 06, 2012

Would you invest in YTL Power International Warrants?

Up,Down and Up!
This warrant were issued in 2008 for a 10 year period until 2018. The price of RM1.2.1 is the conversion factor.Looking at the chart, prices were good in April touching 62 sen before slumping down in mid April and going further south in mid June before a gradual rebound to46-48 sen in late May. Thence, on an upward trajectory, it has moved to 60 sen currently. 

YTL Corp has decided to sell to its shareholders these warrants  in their holdings to reward them for their loyalty. The selling price is 20 sen per unit. This is a 66% price discount.

This offer for sale involves 682mil to 738mil warrants (based on the minimum and maximum scenario), which account for 73%-79% of the total 934mil  YTLP warrants held  by YTL. 

Question is would you buy,sell into strength in the market or accumulate them for  conversion as it has less than 6 years to go?

Let us look at some data on this warrant.

At the then price of 43 sen, it represents a steep discount of  46% . The converion rate is RM1.21.

Adding 0.20 sen to RM1.21 for a conversion is still profitable as YTL Power International is trading at RM1.81. Selling will bring you a profit of RM400 per lot of 1000 units.

Currently this warrant is trading at a good price at 59.5 sen.

Assuming YTL Corp shareholders take this up, it will be adding more money onto  the war chest stockpile of YTL Corp which currently is brimming with RM14 billion ringgits with nowhere to go!

If you buy the warrants at a steep discount of 20 sen, from the current trading price of RM0.60 sen, it is a super savings of about 66%.

The date of offer is not known yet but I guess it will be soon.

Let us assume you want to buy 20,000 YTL Power warrants. If you are successful and the price do not dip


much, you can trade them off for at least at 50 sen. At 20,000 shares, this will amount to RM10,000. Deducting for the 20 sen paid, your profits should show 30 sen x 20,000 which is RM6,000 in the best scenario.


In the worst case scenario, the warrant only fetches 30 sen.  The net gain is only 10 sen. So at 20,000 shares,  you will stand to gain RM2,000. 


Assuming the warrant is traded off by 10%, it means it will  trade at 53 sen.  Deducting 20 sen as your access price, there is a gain of 33 sen. This would mean selling 20,000 of the warrants should fetch RM6,600.


As the only project hanging around the neck of YTL Power International like a millstone is the Yes! project which should start making profits in 2013, I think it will be a calculated risk to go into this warrant but do not go overboard. 


Money to lose is risk money. Lose that is all you need too or make profit the other way around!


All the best.


Caveat emptor!

Buying Tickets at Paradigm Mall GSC

Latest Halls and Equipment
If you intend to go to the GSC cinema chain at Paradigm Mall, take note of the following advice:

On Wednesday all tickets are priced at RM8.00

Senior citizens rates are available on weekdays for shows before 6 pm. I need to check what is the entry ticket rate.

If you are paying by credit cards and debit cards, taken note that there is an offer in July 2012.

Those using Citibank credit cards can book the ticket earlier than the show day. For every ticket bought, you get one free.

For RHB Cards, you can use it only for the show day. It is also a one ticket free for every ticket purchase.

The same goes for Hong Leong Bank Credit and debit cards. Though, I need to check on this.

Free lists can be used for shows that have been screened for more than 2 weeks. They are shown with asterisks  on the GSC  web pages.

Shareholder entry tickets can be used for any shows.