A Day at KWSP

Is it Still Solid?

I had the chance to visit  EPF  or KWSP (in Bahasa) this afternoon.

At my age only one thing was on my mind--withdrawal.

Possibly to review my nomination as well.

First off-nomination.

Instead of a card, they have a form now and your nomination and signature must be witnessed.

So EPF is playing safe on this aspect.

The second matter-the withdrawal of EPF savings.

Interestingly, it is paperless.

All you need to do is to present yourself to one of the EPF officers who will discuss your request and then remit the funds as you like;either monthly or in larger sums or even one lump sum.

The minimal withdrawal per month will be RM 2,000 and it will be remitted directly to a nominated bank account of your choice.

If every thing is in order, you can get your funds within 3 days. Otherwise, if there is some problems (especially thumb-print issues), you would get it within a week.

This monthly withdrawal is a good option as whatever funds left will still be entitled to dividends to be paid out.

Breaking Bad-Real Bad

The Dark Side

If there is one series that will truly get you off the edge of your chair,it must be Breaking Bad.

This antihero movie about a chemistry teacher who is suffering from lung cancer and then turned to manufacturing methamphetamine to provide for Texas, New Mexico and Czech Republic is truly one gripping television series.

After 5 seasons it ended last year.

Truly engaging.

Bryan Cranston as the protagonist turned baddie turn in such a superb action of a man at the end of its wits.

Seeing is believing.

Microwave Fever

Pensioned off  Micro

After more than 22 years, the old Sharp microwave called it a day.

It shut down all functions completely.

I suggested that we buy on the interim-a cheaper and smaller capacity model.

'Nada,'said my wife in full control that she would be able to live without that nefarious machine for a long while.

We have a rough and tough time of about a month struggling without a microwave.

Every time we wanted hot water, it means that we would have to use the electric water jug; even for a small quantity of water to brew tea.

We had to use the small electric oven every time we wanted to warm up food. This was particularly to steam up buns and pizza.

I guess the nefarious machine won in the end.

Using my loyalty points accumulated on my credit card and adding a painful one K, we took back a premium brand with the same capacity.

That was a victory for female vanity and a dent on my already deflated wallet.

The Vanity Micro

So, the machine and my wife won.

I, on the other hand, had to take the strike out with a sheepish smile as I slink out of the kitchen.

Will MBSB Rights Go Further North?

Capital Call

Before the Provisional Offer Letter (POL)letter was traded, MBSB was treading a price level of about RM 2.70.

Then it fell to about RM 2.10 on the listing of the POL where the POL fetches about 50 over sen.

Before it ceased trading the POL was traded at 46 sen.

It you add RM 2.19 to 46 sen, it means the original MBSB shares would now be at a theoretical price of RM 2. 65, a whisper from the RM 2.70 level.

So, when the rights subscription closes on 13 January, every one will have to add another RM 1,650 to obtain the new shares.

So, RM 2,650 - RM 1,650 will give you a  profit of about RM 1,000.

Taking a theoretical loss of  about  RM 50 from  rights cum level, this will leave you with a net profit of about RM 950.

So, on the surface, it looks like the MBSB rights may even go  further northwards.

My two sen's worth, not discounting rumour mongering of a potential RHB take-over.

Mama Mia! Shocking Increase All Round

Shrinking wallets, too?

I am sure the politicians who voted on subsidy rationalization and rate rationalisation did not anticipate the deluge of inflation woes on the rakyat.

Now things have really gone overboard.

School canteens have also increased their food prices. Poor students-poorer parents!

Go to the mamak makan stores especially Kayu Restaurant, it is from 20 sen to 50 sen.

Don't go into any Chinese kopitiams unless you have more than 10 ringgits. Otherwise you may have to leave your watch or any other valuable behind!

When government leaders do not think when they raise their own salaries and have all kinds of income,only the rakyat feels that bitter taste in the mouth and the wallet.

Welcome to Malaysia when you are hit from all sides all at one go!

The ringgit indeed has shrunk.

Best way out?

Do not hold anything in ringgits.

As such many have opened foreign accounts in both local and foreign off-shore banks.

A second best alternative-hedging.

Despite the poor property market prospects because of government overkill such as that ridiculous RPGT regime, the poor quantum of bank loans and the abolition of DIBS, a good property will still be a good hedge to ensure your value of the ringgit remains so. Besides rents, there is a good chance of capitalisation gains as most developers have pull back housing launches for the time being to review business plans. So, any glut situation will disappear as housing stock shrinks!

Any other investments from stocks to unit trusts to insurance and savings are vulnerable to the shocking inflation woes!

Belt Tightening 2014 and One Hard Cry!

Shocking price upheavals at the kopitiam

Yes, when it rains;it pours.

After the fireworks of welcoming in the new year, a sombre mood awaits.

Thanks but no thanks to the government of the day, Malaysians will be roundly rustled by an aggressive butt-kicking inflation.

What with the withdrawal of gasoline and sugar subsidies, the rise of Tenaga tariff by more than 15%,the 20-30% school bus hike in February, expected toll and LRT fare increases, expect the worse. Parents of school going students will also have to face a 20% increase in stationery costs.

Do not be surprised if public bus and taxi fares moved up too!

Then there is the implementation of the minimum wage making it more expensive to do business in Malaysia.

As such, expect prices of food and drinks at the local kopitiam to go sky high.

Already drinks have been increased by 20% in KL, PJ and Penang while a bowl of noodles or rice up a hefty 50% beginning 1 January 2014!

Local economists are now forecasting three difficult years ahead with the GST kicking in on April 2015.

While RM 3,000 would be just ' nose above water ' in 2003 for the KL-PJ metropolitan area, the new numbers bandied around is RM5,000 to RM 8,000 for mere survival.

With a shrinking rinngit in your wallet, there is nothing to do but to get a second job or lament and cry hard!

Another New Year

Yes, we are at the cusp of a new year again.

2014. The year of the Horse.

What it will bring for us depends on the cards that will be dealt to us.

For those who are naturally "good" and forthright, it will just another year of doing good and feeling good after doing it.

For the majority, it will be the same-whiling away the time God gives us.

For the wise, make time to do what you want.

Be it to travel far and wide, to meet old friends and relatives regularly, or to attempt to keep new year resolutions....just do it!

The best of the new year to all my readers!