Went for Star Walk 2016 September 19, 2016 bizadmin 2 Sundays ago, on 11th September 2016, I went for Star Walk with my spouse. It was a 7-km non-competitive walk with prizes and lucky draws at the end of the walk, should you finish within the 2-hour limit. After that, for the tired ones who could not complete the walk, a sweeper bus will pick up the stranded walkers and take them to the finishing point. There’s an African dance performance, Line dancing for those who still have an iota of energy left, plenty of jazzy music, etc. There were some credit card promotions and Julie’s biscuits sale going on too. Participants will get free rounds of 100 plus drinks and chocolate malt with strawberry-flavored or corn-flavored buns and free The Star newspapers. You will also get a certificate of participation as you queue for it at the finishing line. The slight rain did not dampen our spirits as we came armed with an umbrella. For more oregonappliancerepair consult the experts at www.oregonappliancerepair.com
McDonald’s plans to sell Malaysia, Singapore franchises July 26, 2016 bizadmin McDonald’s Corp is planning a sale of 20-year franchise rights in Malaysia and Singapore that could collectively fetch at least US$400mil, people with knowledge of the matter said. Suitors for the fast-food operations in the two Southeast Asian markets have begun sounding out banks for financing, said the people, who asked not to be identified because the information is private. A potential bidder is in talks with lenders for as much as US$300mil in funding, they said. McDonald’s is seeking local franchise partners to run its restaurants in Malaysia and Singapore as it pursues an international turnaround plan put in place after CEO Steve Easterbrook took over last year. The Big Mac maker, which has a US$112bil market value, is revamping its ownership models throughout Asia, including plans to sell operations in China, Hong Kong and South Korea. McDonald’s has adopted a “development licensee model” for the two markets, a Singapore-based spokeswoman for the company said in an e-mailed response to Bloomberg queries. It is negotiating with candidates “who are committed to helping accelerate growth and innovation in Malaysia and Singapore,” she said. Unlike in its other major markets — including the U.S. — most McDonald’s outlets in Asia are company-owned. The chain aims eventually to have 95% of its restaurants in the region under local ownership, it said in March. McDonald’s currently has more than 120 restaurants with around 9,000 employees in Singapore, according to its local website. In Malaysia, the chain runs more than 250 restaurants, its website shows.
Tycoon land sales raise questions February 27, 2016 bizadmin A few tycoons are selling large swathes of their land in Malaysia, either directly or through companies they control. Could this be a sign of the times, in the sense that these businessmen are looking to cash out of an asset class that is set for a prolonged downturn? “You get the feeling like these tycoons are reading the market and acting on it,” says one fund manager. Just last month, Guocoland (M) Bhd, a company controlled by Tan Sri Quek Leng Chan said its associate company announced it was selling a large piece of land in Sepang to Petronas-owned Putrajaya Holdings Bhd. Around RM116mil of the sales proceeds will be attributable to Guocoland, in which Quek has around 65% interest. At around the same time, Tan Sri Lee Shin Cheng decided to sell 400 acres of his privately-owned land to IOI Properties Group Bhd for a whopping RM1.58bil. Lee will be paid mostly in shares, nudging his stake up to 58.56% from 51.47% but will also be getting cash of around RM158mil from the sale. Lee has since explained that the deal shows his belief in the long-term prospects of IOI Properties and that the land will enhance the prospects of the latter. He also said that he would use the cash proceeds from the sale to buy more shares in IOI Properties. But some observers say his move, of putting his privately owned land into his listed company, can be read as a decision to not want to take the risk of holding this land in these troubling times, but rather move it into his listed company. Another notable vendor of land in recent times is Tan Sri Danny Tan. Through his listed Tropicana Corp Bhd, he has sold more than RM1.5bil worth of land this year alone. Tan also sought to sell a large piece of land in Gelang Patah Johor to Singapore-listed Albedo Ltd for which he would have assumed control via a reverse takeover. That deal has since been aborted and it isn’t clear if Tan has sold that piece of land, which was valued at almost RM2bil at the time of the proposed deal. Last year, Tan Sri Desmond Lim’s Global Oriental Bhd sold 15 acres of land in Seri Kembangan to Singapore incorporated Qingdao Investment Pte Ltd for RM142mil while in 2013, DRB Hicom Bhd, controlled by Tan Sri Syed Mokhtar divested close to 250 acres of land in Johor to Eco World Development Group Bhd for more than half a billion ringgit.
Public Bank launches e-fixed deposit account February 22, 2016 bizadmin Public Bank Bhd recently launched the PB e-fixed deposit account (PB eFD) which is for customers opting for e-banking. PB eFD is a “Go Green” paperless fixed deposit account which allows the customers to create the accounts, make placements and also withdraw online via PBe Online Banking (PBe). With PB eFD, customers will benefit from the fixed deposit (FD) interest rate just by applying for a PB eFD account and make FD transactions anywhere via PBe throughout the whole week. The PB eFD placements are carried out in real time with minimum placement from as low as RM1,000. PB eFD is open to individual customers aged 18 years and above as well as sole proprietors, who have existing conventional personal current accounts or savings acounts and who have registered for PBe. The bank said the facility would enable customers enjoy their interest earned before the maturity as PB eFD offers the option of monthly automatic crediting of interest into customers’ current account or savings account. PB eFD also offers automatic renewal for the same tenure at the prevailing board rates for the convenience of customers. In conjunction with the launch of PB eFD, Public Bank is running a “PB eFD Campaign” from Jan 12 to March 31 offering higher promotional interest rates of up to 3.60% per annum for three months and above. With “PB eFD Campaign”, customers can watch their money grow and earn competitive interest rates. Customers just have to open a PB eFD account via PBe and make a minimum PB eFD placement of RM1,000 during the campaign period in order to enjoy the higher promotional interest rates.
Leaking gas tank causes shutdown along NSE November 6, 2015 bizadmin A leaking LPG tank on a trailer near the 310th kilometre between Tapah and Gopeng led to a temporary shutdown of both sides of the North-South Expressway (NSE), causing a 5km traffic jam. The Tapah fire department said an LPG tank being hauled by a trailer along the NSE was discovered to be leaking the dangerously flammable gas. According to the trailer driver, there were two safety valves on the tank which were leaking. Fire department personnel, with the help of the police, closed both sides of the highway to allow the LPG tank to vent, as the safety valves could not be repaired. A Hazmat team from Pasir Puteh together with fire brigades from Tapah, Gopeng, Kampar and Ipoh were involved in the clean-up operation, said Fire & Rescue Department of Malaysia assistant superintendent Muhammad Shaznil Abd Thoher. During the operation, water was sprayed to cool the gas so that it could be released into the air and to prevent it from seeping below. As at 5pm, the emptying of the gas tank was completed and the highway was reopened soon after. For safety reasons, drivers were directed to exit the highway at either Gopeng or Tapah to continue on their journey. PLUS Corporate Communications deputy senior manager Iskandar Dzulkifli has also advised the public to avoid the Tapah and Gopeng interchange to bypass the massive jam. For the latest traffic updates, go to PLUSTrafik Twitter or call the PLUSLine at 1800-88-0000.
Chua: No penalties yet, but file GST returns September 6, 2015 bizadmin No penalties have been imposed on companies which failed to file their GST returns, Deputy Finance Minister Datuk Chua Tee Yong said. He said despite the Aug 24 submission deadline, the authorities had decided not to take punitive action yet. “Businesses which have yet to submit the GST returns should do so without delay. “The Customs Department has been very accommodating but please don’t take advantage of this. “The time will come when penalties will be imposed and Customs officers will look for these defaulters,” he said after a dialogue with Chinese guilds and non-governmental organisations in Wisma MCA here yesterday. Also present were MCA vice-president Datuk Lee Chee Leong and MCA Economic Consultative Committee member Datuk Seri Dr Lim Chin Fui. Chua said the penalties, once imposed, would be auto-generated but businesses could still submit an appeal. He said all GST-registered companies should make an effort to comply and that it was not fair to those who had filed the returns on time. “The Customs Department has made it clear that it is not its intention to take immediate punitive action. “They will not penalise companies over a mistake in the returns,” he said, adding that businesses should not take for granted that it was not a necessity to file the returns. Records showed the first quarterly GST filing from April to June stood at 87%. On GST refunds, Chua said several measures had been implemented to improve the process.
Don’t just invest your money, optimise it August 26, 2015 bizadmin IN this money-driven world, the need to invest is absolutely undeniable. The unstable economy combined with rising inflation and the implementation of the goods and services tax is affecting our cost of living in unpredictable ways. At this rate, if we do not invest, we run the risk of having to work our entire lives. Investing allows us an opportunity to grow our wealth at compounded rates, thus multiplying our money within a shorter period of time. Take a look at the multi-billionaires of today – they did not exactly make their wealth by earning monthly paycheques. Nevertheless, when we invest, we also inadvertently expose ourselves to the risk of making investment losses. These cases are not unheard of. We’ve all come by stories of investments that are deemed to be “perfectly good” by analysts and salespersons, only to drop like rocks, costing investors their capital or worse, their entire life savings. Take for example, the unexpected collapse of financial juggernaut Lehman Brothers which eventually pulled the entire global economy into a tailspin; or the notorious Madoff ponzi scheme that left investors wary of even the most reputable and well-regulated institutions; or the 2007-2008 financial crisis which caused unit trust funds to lose 30%-40% of their value. More recently, the investors of oil and gas stocks were hit badly by the recent crude oil downturn, causing them to lose up to 50% of their capital. The list goes on and on. Alas, investment misfortunes are not limited to just stocks and unit trusts. In the case of gold investment company, Geneva Malaysia Sdn Bhd, some 1,065 gold investors are presently embroiled in a lawsuit with the company for breach of contract involving RM146mil in gold products and monies owed to them. You may have also heard of stories of property investors aiming to make a quick buck by flipping properties, only to be caught off-guard by not being able to rent or sell the properties for profit as planned. Even the most experienced investors are not completely “bullet proof” from committing investment blunders. By his own admission, Warren Buffett, the greatest investor of our time, shared in an open letter to his investors, two of his biggest business and investment mistakes, one of which he claims cost him and his investors US$100bil when he bought ailing Berkshire Hathaway. He called the actions that led up to his purchase of Berkshire a “monumentally stupid decision.” In order to learn from these investment mistakes, we must first understand the risks and rewards of investing well. The simple science of investing dictates that you are essentially aiming for maximisation of your return of investment (ROI). As such, in a best case scenario, investing will increase your net worth significantly and substantially. This is perfect, if you have done all the right things and had picked a winner. However, what if the reverse happens? Depending on the size of the capital invested, you could suffer a major loss to your net worth and be further away from achieving financial freedom. Chart 1 illustrates the best and worst-case scenario when you invest money.
Archidex Exhibition 2015 August 16, 2015 bizadmin I attended the Archidex exhibition recently from 12 – 15 August 2015 at KL Convention Centre and if I am not mistaken, there were 9 halls with various booths of different home and construction products. What I particularly like was a new type of laminated wood infused with negative ions particles via nano technology. The cut apple will remain fresh and not get oxidised and turn brown when place on the wood. You can even check the negative ions counter and when you place your handphone over it, the counter immedately register near zero instead of negative in the thousands since electrical gadgets emit positive ions that make us lethargic and tired. I collected many colourful canvas bags, pens, note book and a diary. Some people even got themselves long golf umbrellas and big teddy bears.