800 Posts and 4th year Anniversary

Happy Anniversary.

Can't believe this blog already 4 years old.. and 800 posts. :)

Sales Update

FJ Benjamin Luxury Clearance - 12 to 14 June 2009

Brands: Celine, Raoul, Banana Republic, Jean Richard, Bell & Ross, Girard Perregaux
Time: 10am to 7pm
Location: Shangri-La Kuala Lumpur, Selangor 1 Function Room, Basement II
Note: Additional 10% Off Total Nett with Citibank Credit Cards


Esprit Warehouse Clearance Sale - 11 to 14 June 2009

Time : 11am to 8pm
Location: Cineleisure Mutiara Damansara, Level 1
Note: Additional 10% off for HSBC Credit Cardholders

A Sudden News

A SMS ring tone break the quiet morning.. I just wonder which staff is about to take a day off. After I read the message I had a long silent moment before I brook the news to my brothers. One of our uncle just passed away this morning. This was a sudden news for us.. and we have not see him for sometime after he have some walking issue.

As we growth older, we slowly experience the older generation is slow leaving us. It is very emotional torture especially those who is very closed to you. As I read the message, there is a fast flash back about my uncle in my mind... Lot of emotion flow out all the sudden ...

Need to going back hometown tomorrow.. I will drive carefully.. and I will be OK. Thank for the concern.

The worst yet to come??

Ok.. I know this figure going to scare lot of reader but it is a good information to share. So, you guys and girls will start make some saving.

Let start with, Singapore had reduce additional 1% for their GDP growth.

Job cut at Microsoft, you see it right, the first time ever in 32 years history. They will cut 17,000 jobs globally.

Woolworths, the UK deportment store, will close down 813 branches on this coming Monday. Estimated job lost 27,000.

US Expert estimated about 12,000 retail shop will close down.

Anyway, let pray for a better year. Maybe this year will not be bad at all since it is just started for 4 days.

Free Ticket from Air Asia

Air Asia is running the promotion for 3 days only. My search to Bangkok with the free seat, it only cost RM195 for 2 person.

Fuel Charge

Fuel price is getting lower but why the goods price is still remain high.. Are they plan to keep the high price permanently?

Even the fight fuel surcharge does not show sign of going down...

Bad News and Good News

100 years old UK department store Woolworths may sell it 800 branches to US Hilco with 1 pound.

The good news is the department start doing early sales promotion this year compare to last year few days before X'mas.

News That Help Us to Stay Put In Our Current Lousy Job.

Citigroup is shedding about 53,000 more employees in the coming quarters as the banking giant struggles to steady itself after suffering massive losses from deteriorating debt. 18,000 additional compare to 35,000 which they announced last week.

Is Malaysia recession-proof? Don't be too happy too quickly. A Chinese newspaper said it already started in the manufacturing, 10%-20% jobs cut.

More bad news - Job Cut

Citibank planning to cut an additional 35,000 job worldwide on top of previous 23,000.

Sun Microsystems estimated to cut 5,000 - 6,000 jobs

Fidelity Investments cut further 1,700 jobs

How about the unpublished company? I am sure the numbers are more than what I have posted here.

More Job Lost

JP Morgan - estimated 4,638 - 10% of the current workforce
AIG - Closed down 178 not profitable branches: 380 job cut.

Maybe now is the natural selection as per my friend

Job Lost..

My last post is mainly in IT industry. According to Bloomberg statistic shown:

Citigroup cut 23,000
Merrill Lynch cut 5,700
Morgan Stanley cut 4,400
Lehman Brothers and Bear Stearns closed down. Job lost 23,000.

Those figure mainly in US.

Others are
Deutsche Post announced today will cut 40,000+ job worldwide but mainly in US.
DSB HK cut 900 - Hong Kong and Singapore
Fidelity Investments cut 1,290 - US
Pepsi Cola - 3,300 - worldwide

Breaking news:
HSBC to cut additional 600 - worldwide

Smart Tunnel ... Not Smart At All..

On Thursday, the company announced the smart tunnel will closed for 2 days to prevent the flood from the storm water. Today, newspaper stated the open will be future delay due to the tunnel could not be discharged water into the river. the Smart Tunnel general manager Mohd Fuad Kamal Ariffin, the Kuala Lumpur City Hall (DBKL) explained (more like make up story to us)

"The river is at a maximum level because of the heavy rain.

The water could not be pumped out to the storage pond in Taman Desa, which releases the water to the river,

So, the tunnel cannot be opened early and if there is another storm, we can only take in a limited volume of water.

Based on the Auditor-General’s report, the upgrading work should have been completed the same time as the tunnel.

The contractor was supposed to have finished the project in January this year.

But due to the late commencement of the work, the Drainage and Irrigation Department (JPS) has to use a temporary pump at the outfall of the river to overcome problems."

but Fuad forget what he said during his April 2008 announcement:

"With many misperceptions that SMART Tunnel would solve all flood problems, city folks have forgotten that the tunnel was built to handle 45% of the city’s water volume from the Klang River and Ampang River and not flash floods which are caused by clogged drainage system."

"The SMART Tunnel deals with flash floods caused by river overflowing. And it caters for the upper Sungei Klang and Sungei Ampang catchments, diverting 90% of the volume of floodwaters from Sungei Klang."

May I know what is he talking about??? The Smart Tunnel suppose to diverted the flood water and discharge the water to the river or handle the river overflow???

Misleading Ad..

Read the headline carefully, it is end with *.

"20% storewide*". The small note stated "exclude food, toiletries, gift voucher and promotion items"

Conclusion, it is not storewide sales.

Mobile Number Portability

Mobile Number Portability (MNP) will be implement in Malaysia on this coming September. MNP gives you the ability to port your number: This means that when you switch networks you’ll still be able to keep your old number.

My advised to those want to switch telco company is wait and see. I am sure the telco will introduce more promotions to keep their customer from switching. Which means good news for us.

Invested Euro 1 = Euro 160 millions profit

Another stupid decision made.. Malaysia really boleh.. They should fire those people who gave the green light to sell the company and include who advised them.

Interview on Last Weekend

During weekend, I had met with my potential employer. Few round of chit chat, now waiting to meet their big boss. Nothing is firm yet as we have to discuss my role in the company. So far thing going well, I have the option to select the HQ in Malaysia or Singapore Branch. It is totally up to me to choice.

From insider news, their boss is a smart guy. I have to prepare to 'sales' my ability to help him to run the company. :(

If thing go as plan, I might resign end of this month. But it still too early to say at current moment.
Wish me luck!!

Khazanah Defends Top Execs' Pay Raise..

"The TNB CEO and CFO were getting (an unconfirmed 100%) salary increase. " Oh Dear!! They already earning millions per month don't you think the government-linked companies' top executive should get a pay raise.. not few percent but at bloody 100%.

The reason given "The timing of the proposal salary increment has jolted many Malaysians now experiencing a strain in their monthly incomes after steep rises in fuel, energy and escalating food prices". If in this case, why not everyone in the company got 100% pay raise??

Another question is where is hell of the money come from?? From the energy price raise?? In this case, the government should open the energy market and get the company who can provide a cheap energy. It should not solo give the energy contract to the TNB. ..

Interesting Email ...

I received this email.. found it interesting because it gave a good statistic on the number.

WHAT IS NEVER MENTIONED IN Mainstream Media like NST/TheStar/ Utusan/BH are these facts....

Malaysian PerCapita Income USD 5000 VS Singaporean PerCapita Income USD 25000

Further The Star made a comparison of prices in Thailand , Singapore and Indonesia . For Thailand it is quoted at RM3.90/liter, however are they aware that in Thailand new cars are cheaper than Malaysia by RM10,000? They pay only one life time for their driving license? No renewal fee after that? Also that goes for road tax as well? And do TheStar also aware that you can drive all the way from Hadtyai to Bangkok on a six lane highway without paying any Tolls ??!! Whereas here in Malaysia you have to pay yearly renewal for road tax , driving license and TOLLS, TOLLS, TOLLS!!!

For Singapore how can you quote RM 5.20 ? Please quote in Singapore Dollars because they are earning in Sing Dollars. You might as well say Europeans are paying RM10/liter. RM5.20/liter = Sing $ 2.20/liter, still cheaper than Malaysia in view of fact that Singapore is not a crude oil exporter. Are you saying that you fill up petrol in Singapore by paying Ringgit? In economy, dollar to dollar must be compared as apple to apple. Not comparing like durian in M'sia is much cheaper than durian in Japan!! Of course-lah, Japan is not durian producer!!! Comparing Malaysian durian with Thailand durian make more sense!!

For Indonesia we might say is cheaper there at RM2.07/liter but compare that to their level of income!

Now, let us compare the price with OIL PRODUCING countries:

UAE – RM1.19/litre
Eygpt – RM1.03/litre
Bahrain – RM0.87/litre
Qatar – RM0.68/litre
Kuwait – RM0.67/litre
Saudi Arabia – RM0.38/litre
Iran – RM0.35/litre
Nigeria – RM0.32/litre
Turkmenistan – RM0.25/litre
Venezuela – RM0.16/litre
MALAYSIA – RM2.70/litre

RM 2.70!!! Individual perspective:

As of last month a Toyota Vios would 'cause a damage' of about RM 89,000. In the international market, a Toyota Vios is about USD 19,000. USD 19,000 = RM 62,700 (using the indicative rates of USD 1 = RM 3.30).That makes Malaysian Vios owners pay an extra RM 26,300. This RM 26,300 should be cost of operations, profit and tax because the transportation costs have been factored in to the USD 19,000. RM 26,300/ RM625 petrol rebate per year translates to a Vios being used for 42.08 years. I do understand that the RM 625 is a rebate given by the government, but it also means that one has to use the Vios for 42.08 years just to make back the amount paid in taxes for the usage of a foreign car. Would anyone use any kind of car for that long?

Now with these numbers in front of us, does the subsidy sound like a subsidy or does it sound like a penalty? This just seems to be a heavy increment in our daily cost of living as we are not only charged with high car taxes but also with a drastic increase in fuel price. With all the numbers listed out, I urge all Malaysians to join me in analyzing the situation further. Car taxation is government profit, fuel sales is Petronas' (GLC) profit which also translates into government profit. The government may ridicule us Malaysians by saying look at the world market and fuel price worldwide. Please, we are Malaysians, we fought of the British, had a international port in the early centuries (Malacca), home to a racially mixed nation and WE ARE NOT STUPID!!!

We know the international rates are above the USD 130/barrel. We understand the fact that the fuel prices are increasing worldwide and we also know that major scientist are still contradicting on why this phenomenon is happening. Some blame Bush and his plunders around the world and some blame climate change and there are others which say petroleum 'wells' are getting scarce.

Again we go back to numbers to be more straight fwd

1 barrel = 159 liters x RM2.70/liter = RM 429 or USD 134. On 1 hand, we are paying the full cost of 1 barrel of crude oil with RM2.70 per liter but on the other hand the crude oil only produces 46% of fuel. Malaysia sells crude oil per barrel at USD130 buys back Fuel per barrel at USD134. And not forgetting, every barrel of fuel is produced with 2 barrels of crude oil.

1 barrel crude oil = produce 46% fuel (or half of crude oil), therefore 2 barrel crude oil = approximately 1 barrel fuel. In other words, each time we sell 2 barrels of crude oil, equivalently we will buy back 1 barrel of fuel.

Financially, Malaysia sell 2 barrel crude oil @ USD 130/barrel = USD 260 = RM 858 then, Malaysia will buy back fuel @ USD 134/barrel = RM 442/barrel. Thus, Malaysia earn net extra USD 126 = RM 416 for each 2 barrel of crude sold/exported vs imported 1 barrel of fuel !!!


(USD 260-134 = USD 126 = RM416) So where this extra USD 126/barrel income is channeled to by Malaysian Govt???????? ?

Another analysis:

1 barrel crude oil = 159 liters.
46-47% of a barrel of crude oil = fuel that we use in our vehicles.
46% of 159 = 73.14 liters.
@ RM 2.70/liter x 73.14 liter = RM197.48 of fuel per barrel of crude oil. This is only 46% of the barrel, mind you. Using RM 3.30 = USD 1, we get that a barrel of crude oil produces USD 59.84 worth of petrol fuel (46% of 1 barrel). USD 59.84 of USD 130/barrel turns out to be 46% of a barrel as well. Another 54% = bitumen, kerosene, and natural gases and so many more. And this makes a balance of USD 70.16 that has not been accounted for. So this is where I got curious. Where is the subsidy if we are paying 46% of the price of a barrel of crude oil when the production of petrol/barrel of crude oil is still only 46%?

In actual fact, we still pay for this as they are charged in the forms of fuel surcharge by airlines and road taxes for the building of road (because they use the tar/bitumen) and many more excuse charging us but let us just leave all that out of our calculations. As far as I know, only the politicians who live in Putrajaya and come for their Parliament meetings in Kuala Lumpur (approximately 60+ km) are the ones to gain as they claim their fuel and toll charges from the money of the RAKYAT's TAX. It is so disappointing to see this happen time and time again to the Malaysian public, where they are deceived by the propaganda held by the politicians and the controls they have over the press.

Which stupid idiot economist equates rebates for rich or poor with the cc of the vehicles? An average office clerk may own a second hand 1300cc proton Iswara costing $7,000 (rebate = $625) while the Datuk's children can own a fleet of 10 new cars of BMW, Audi and Volvo all less than 2000cc costing $2 millions and get a total rebate of $625 x 10 = $6,250! Wow what kind of economists we are keeping in Malaysia...wonder which phD certificate that they bought from...

Misleading concept of Subsidy:

The word "subsidy" has been brandished by the government as if it has so generously helped the rakyat and in doing so incurred losses. This simple example will help to explain the fallacy:

Example:
Ahmad is a fisherman. He sells a fish to you at $10 which is below the market value of $15. Let's assume that he caught the fish from the abundance of the sea at little or no cost. Ahmad claims that since the market value of the fish is $15 and he sold you the fish for $10, he had subsidised you $5 and therefore made a loss of $5.

Question : Did Ahmad actually make a profit of $10 or loss of $5 which he claimed is the subsidy?

Answer:
Ahmad makes a profit of $10 which is the difference of the selling price ($10) minus the cost price ($0 since the fish was caught from the abundance of the sea). There is no subsidy as claimed by Ahmad.


The government claims that it is a subsidy because the oil is kept and treated as somebody else's property (you know who). By right, the oil belongs to all citizens of the country and the government is a trustee for the citizens. So as in the above simple example, the government cannot claim that it has subsidized the citizen! But more of subsidizing 'somebody'special…

Well…. We are what we see …. And later we will see more of Scomi. Now there is Scomi Coach Sdn Bhd (Previously known as M-Trans Sdn Bhd) and Scomi Rail Bhd (previously known as M-Trans Technology Sdn Bhd)

New Scomi coming soon?
1) Scomi Petrol Station(NGV?)
2) Scomi Broadband (Internet)
3) Scomi Cellular (Mobile Services)
4) Scomi Satellite TV Network
5) Scomi Bank
6) Scomi Finance
7) Scomi Auto
8) Scomi Water
9) Scomi Electric
10)Scomi Medical Centre

A new begining..

Was travel from my working field to a small town last weekend. It was a big day for my lovely colleague, her wedding. I did enjoyed the ceremony and dinner compare those held at the big city. Everything was in the simple way.. even the "yam seng" was short and fast.. ha ha.

All best wishes for her.

Away again

Will be away till next week.. I will try to update on the trip. :)