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Falling ringgit in focus

ringgit

THAT the ringgit has continued to slide over the week says it all: the revised Budget 2015 has not been very successful at restoring flagging foreign investor appetite for Malaysian assets.

Fresh concerns have been raised over the risk of the country’s sovereign debt rating being downgraded following the upward revision in the Government’s fiscal deficit target for 2015.

Despite the slew of measures announced for the revised Budget 2015 to cushion Malaysia’s economy from the blow of falling crude oil prices and slowing global growth, some foreign analysts now see Malaysia like one of those traditionally riskier regional economies such as Indonesia and India. They can’t seem to shake off the thought of how vulnerable the country is to low crude oil prices.

Fitch Ratings, which has put Malaysia on a negative rating watch since July 2013, for one, has said recently that it is “more likely than not” to cut the country’s debt rating.

The international rating agency, which is due to review Malaysia’s rating within the next six months, has cited the country’s dependence on commodities as a key credit weakness.

Two other international rating agencies – Standard & Poor’s (S&P) and Moody’s – have thus far ascribed a “stable” outlook on Malaysia’s sovereign rating.

Koi Brings Luck

koi

KOI breeders see a thriving business during the Lunar New Year period. This is because many Chinese believe that by investing in the fish, they will be blessed with financial abundance.

However, while the koi are referred to as investments and many actually do appreciate in value (as long as you buy the right fish with the right pedigree from the right breeders), most buyers do not resell their fish. Firstly, because they value more the koi as a creature of prosperity and longevity, and not the money that can be realised from a sale. And secondly, buyers tend to be emotionally attached to their fish.

Jeff Tan, a koi investor and breeder who runs the Arowana Aquarium Specialist Centre, says investors generally hang on to their fish because they believe the koi will bring them wealth.

For those who are less sentimental, however, koi do make a good alternative investment. But you have to know how to pick them and how to look after them. A koi’s value is based on its size, bloodline, accolades, beauty and breeder.

Prices can start from as low as RM50 and go up to RM300,000. If a koi comes with a birth certificate, it will cost at least RM1,500. Most of Tan’s premier grade koi sell for about RM35,000 each.

Bluetooth Headset

I love to try new gadgets if given the opportunity. And you can buy gadgets too besides books from Amazon website such as bluetooth headset by clicking in the link given and find out more information. Bluetooth is wireless and data is transmitted through radio frequency. It is useful if you have a handphone and are driving around where you don’t have to hold your phone with one hand while driving with the other. With a bluetooth headset that is connected wireless to your cell phone, you can listen and talk with both hand steering the wheel.

Online Casino

I have been to Genting Highlands at least 10 times in the past, where is it very popular for jackpots, one-arm bandit and other slot machines for you to punt and hopefully win some money. And if you wish to play the jackpot in the comforts of home, then you might be interested in online casino where you can simply click on the link given to find out more information. The advantage is that you don’t have to spend too much on gasoline to travel to Genting Highlands or Las Vegas or even Macau to bet on your lady luck. With the advancement and proliferation of the internet, more and more people are betting online with the tap of the keyboard.

Braced for a property glut

Everyone talks about rising residential property prices and high rentals because of rising demand and speculative activities. Now they are talking about the impact of GST too.

IS a glut in residential property or a slowdown imminent? IFCA MSC Bhd chief financial officer Daniel Chow seems to think so.

Chow was an invited speaker at a significant property event last week where one of the key speakers showed that actual sales last year for all the major players in the industry, except for one, was much lower than their forecast.

“Everybody recorded negative. There was only one exception. The fundamental rule on economics is demand and supply. When there is oversupply, this is what happens.

“How much is the population growth in Malaysia? Less than 3%. And how much is your purchasing power growth? On average 6% to 7% year by year.

“But the increase in the supply of property is double digit every year. How can you expect the market to absorb all this? There is a limit,” he says in an interview.

For him, the introduction of the GST in April is not going to cause a spike in prices from April to December.

Was in KL recently

I was in KL 2 days ago for work. Went to Sunway Pyramid, got something from Crabtree and Evelyn and redeemed free ang pows in 8 various designs of Koi theme. Gave $800 to my parents, $600 being their monthly allowance for February and $200 for car comprehensive insurance. I am still coughing badly since 3 months ago and the medication does not seem to work anymore. I have running nose as well. Must be under the weather lately. Today, I woke at almost at noon as I came back late last night from KL. Having reached Penang at 11:30pm. There was a very bad traffic jam along the North-South Highway and the cars came to crawling bumper to bumper on the 1 lane road.

Dinner at MorganFields

My youngest sister is waiting to sign her employment letter from HR department to join her new USA company in Penang. She brought me to have my hair rebonded yesterday and collected my medication. Tonight, she will treat the family to Morganfield Restaurant in Gurney Paragon which specialises in steak. I am not a red meat person, hence, I always go for fish or chicken. Had my debit card replaced at a cost of $18 from Hong Leong Bank. It is a pity the one with Hello Kitty design had been blocked since it could not recognise my PIN number anymore. Probably due to the fact that I hardly ever use this debit card that also acts as ATM card to take out money.