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Rules to living with wandering spirits this Hungry

mlpk — Wed, 24 Aug 2016 12:52:36 +0800

http://www.star2.com/living/2016/08/24/the...ry-ghost-month/

Rules to living with wandering spirits this Hungry Ghost Month

The car spun twice. The driver, Susan, felt lucky to be unhurt. And alive.

It was a bizzare and unnerving experience. But in the aftermath of the traumatic experience, Susan recalled that she had forgotten to offer her annual Hungry Ghost Month prayers and contributions at a temple.

“I wanted to give a donation to the temple for mass prayers to appease the wandering souls. But I was bogged down by work and could not find the time,” she recalls. She was reminded she had been lax on the last day of the Hungry Ghost Month festival.

“I was driving uphill when my car suddenly went out of control. It spun twice before coming to a stop. Fortunately, there were no cars nearby,” recounts Susan who quickly went to the temple after the incident.

“I made donations to offer prayers to appease departed relatives, hungry ghosts or even departed animals,” she says. The ritual gave her peace of mind.

Susan also observed other practices such as serving an extra cup of tea during her mealtimes in the seventh lunar month.

The Chinese believe that spirits from the underworld are released to roam the earth for a month on the seventh lunar month. This year, Hungry Ghost Month started on Aug 3 and will end on Aug 31.

You’d know that the festivities have started when you see the Chinese offering their prayers by the roadside at night. In housing areas with Chinese communities, makeshift tents would be set up to pray to the God of Hades for protection from these restless spirits. There will be Chinese operas and concerts staged to entertain these wandering ghosts.

A feng shui master who wished to be known as Chong, 39, from Ipoh, Perak, says it is best not to stay out too late at night during this period to avoid running into ghosts.He says one needs to be cautious this month.

“Don’t use harsh words to challenge these wandering spirits and offend them. If you happen to pass by a makeshift tent where the God of Hades is, just pay your respects,” he says.

When you are making offerings, Chong advised parents to make sure their children are not accidentally placed on the altar. They must also make sure their children do not climb and sit on the altar, not even for a second!

“For whatever offerings are placed on the altar would be deemed as offerings to the God of Hades. Don’t kick joss sticks, candles or roadside offerings. You may incur the wrath of angry ghosts who may follow you home.”

He also said believers should continue to offer prayers at roadsides once they’d started. “The wandering spirits will return to their usual spot to receive the offerings. That’s why people are encouraged to continue their worship practice.

“If they stop the ritual, the spirits would roam elsewhere to look for food.”

Chong says it is best not to wear dark colours such as black and grey as they will attract ghosts. Wear bright colours like red, orange, green or yellow.

He explains that a popular belief is that the living has three spiritual lights – two on the shoulders and one on the head.

“Don’t tap people on their shoulders or head or you’ll extinguish the these lights. Without the lights, one is susceptible to seeing ghosts,” he says.

Dos and don’ts during Hungry Ghost Month

Mingguan Feng Shui has a special edition on ghosts and rites this month. Here are some excerpts from the publication:

1. When making offerings of drinks and biscuits, open the package and separate them so that a greedy ghost would not make off with the whole carton of drinks or tin of biscuits. Then, the other ghosts would have nothing.

2. Do not offer these fruits – bananas, pear and pineapples – in this order together. It is an invitation to the ghosts to come over and the ghosts will become strong and more powerful.

3. When praying, don’t talk about ghosts.

4. Avoid cracking jokes about burning paper money. Don’t let children get too near the fire when burning hell notes to avoid attracting bad qi (energy).

5. People who feel unwell or sick can still worship these wandering spirits. Women who are menstruating can pray but should refrain from holding joss sticks.

6. Don’t burn firecrackers. You will frighten the good brethen (polite way of addressing hungry ghosts) away.

Who knows, they may be terrified that they cannot remember their way back home.

7. When making offerings to appease the wandering spirits, wear decent clothes. Women should not be in skimpy clothing but can wear skirts or long pants.

8. Avoid wearing black or grey clothes as they court illnesses or disaster.

9. Don’t kill any large insects because they may be manifestations of your departed ancestors coming for a visit. Killing them is showing them disrespect.

Why some people don't comply

mlpk — Sun, 13 Mar 2016 12:50:25 +0800

http://www.thestar.com.my/news/nation/2016...nt-why-is-that/

IT’S not just people earning low incomes who are defaulting on maintenance fees. Even those who can afford it are guilty.

Pet groomer Mary Poo, 29, is “absolutely miffed” at her neighbour who has never paid the RM80 monthly security fee for their housing area in Cheras, Kuala Lumpur. The neighbourhood’s residents agreed to hire security guards last year due to rampant crime. Before the guardhouses were set up, mat rempit would come in every weekend, Poo says, adding that a pregnant neighbour was robbed at knifepoint in front of her house.

Claiming that the defaulters are a well-off family, she is angry at the “cheapo freeloaders”.

“The residents’ committee can’t force the defaulters to pay. Those people want the security but they refuse to pay.”

A dentist who wants to be known only as Singam, 37, lives in Damansara Utama, Selangor. He’s finally settling his arrears after months of not paying for security in his housing area. He was annoyed at having to pay at first because the initial security plan forced him to “go through a maze” to get home. The committee has since taken heed of his grouses.

“They wanted me to pay RM600 a year for a security plan that would inconvenience me. I have a dog. I don’t need the added security but I’ll be a team player. I don’t want to be that one problematic resident,” he shrugs.

Richard Chan, a Building Managers Association of Malaysia (BMAM) committee member, clarifies: Unless it’s a gated community, the residents’ association cannot compel you to pay for security measures implemented by the residents themselves, nor are they allowed to fix boom gates to block road access to the area.

A public relations executive who declined to be named admits to not having paid her RM77 maintenance fees since September last year. Her access card has been barred so she has to park outside. And when she asked the management body to repair a leak in her wall and ceiling, they said she’d have to settle the arrears first.

But the Penangite living in Sungai Ara, George Town, denies she’s a cheapskate.

“I owe RM462 in arrears but I’ll settle it as soon as I can. I feel bad because I always try to pay my bills on time but right now, this is beyond my budget. I could use my credit card but there will be extra charges.”

Another apartment dweller in Tanjung Bungah, Penang, pays almost RM1,000 in charges and sinking fund collections per year. The businessman recently stopped paying because he is unhappy with the condo’s management body.

“It’s not that I cannot afford it but why should I? The common area is dirty. The lifts are constantly out of order. I’ll only pay when things improve.”

In every society, there are bad paymasters, BMAM deputy president Tan Sri Teo Chiang Kok says matter-of-factly. If you own a stratified unit, you have to pay. You can’t argue that the place is not managed properly to escape paying. Serve on the management bodies to make sure your interest is protected and things are done properly, he advises. Or refer problems to the Commissioner of Buildings. There shouldn’t be any resistance to paying, he states, noting that more high-rise dwellers are coming to realise that a well-maintained property preserves value.

Agreeing, Chan – who is also Malaysian Association for Shopping and High-Rise Complex Management past president – warns that rising living costs could lead to more defaulters. When your neighbours don’t pay, and you decide not to also, it starts a vicious circle and maintenance goes downhill, he says.

“Location is important when it comes to property value but good management is even more crucial,” he points out.

The failure of some neighbours to fork out maintenance fees has undoubtedly irked residents who pay up regularly like Casey Wong, who lives in an apartment in Petaling Jaya, Selangor.

“Even though I pay my fees, the condition of my apartment’s facilities is unsatisfactory because the management is unable to collect fees from all residents,” laments the 31-year-old bank executive.

Citing the example of frequently faulty lifts in her building, Wong says some amenities currently cannot be fixed or upgraded due to insufficient funds collected.

“Sometimes, I feel that residents like me are being ‘punished’ even though we abide by the requirements. We have done our part by paying our fees but because of uncooperative residents, we have to bear with the problems,” she says.

Wong says many of her neighbours do not pay up and the management corporation decided to publish their names on the apartment’s notice board.

“Some even have outstanding amounts of up to five figures!” she remarks, adding that other owners are also upset with the management body for not maintaining the building properly.

However, there are some who are fortunate to have cooperative neighbours.

Teh Eng Hock, who is the secretary of the management body in a condominium in Petaling Jaya, says only a handful of unit owners have outstanding sums and have not paid over the years.

“We are fortunate to regularly collect in excess of 90% payment from residents,” he says.

Teh, 34, says any default in payment affects the joint management body’s (JMB) budget and ability to improve the condominium.

“The JMB has to manage our expenditure very carefully as the surplus we register is marginal. The introduction of the Goods and Services Tax has also impacted the JMB’s operational expenditure,” he adds.

Royal Institution of Surveyors Malaysia fellow Ishak Ismail estimates that there are some 15,000 strata schemes amounting to 1.5 million parcels in Malaysia. And a new scheme is born every day.

If the collection is poor, the management bodies will have problems paying the utilities and maintenance bills, he says. Poor maintenance affects rental and sale demand.

Eventually, property value will depreciate, he says, adding that tenants and buyers are reluctant to stay in a poorly maintained area due to safety issues.

“When someone buys property, it’s not just about location and accessibility. Building condition, safety, health, a clean environment and sufficient parking are also important.”

Wong Kok Soo thinks it’s in the best interest of defaulters to pay up. Wong is an adviser to the Association of Valuers, Property Managers, Estate Agents and Property Consultants in the Private Sector Malaysia and consultant to the National House Buyers Association.

He says: “If your unit is on the 20th floor, how can you get a good price when the lifts aren’t functioning well and keep breaking down.”

Although the management and maintenance cost of common properties went up by 4% to 6% due to the Goods and Services Tax (GST), Wong says it doesn’t have much impact on defaulters. Problematic collections are mostly in low, low-to-medium and medium-cost stratified buildings, he observes.

While defaulters aren’t a big problem in high-end properties yet, he cautions that they could become an issue as more foreigners buy such properties for investment. Tracing foreign defaulters around the world to take debt recovery action against them would be an uphill task.

BMAM’s Teo adds that there are lots of high-end condos being sold to “flippers” – people who speculate in property. When these property speculators cannot service their bank loans because there are no buyers, paying maintenance is the last thing on their minds, he says.

He says the GST, however, hasn’t resulted in a rise in charges simply because “it’s not easy asking for more money from residents because any hikes must be justified at the AGM”.

It's a crime not to pay

mlpk — Sun, 13 Mar 2016 12:44:32 +0800

http://www.thestar.com.my/news/nation/2016...itting-a-crime/

THE Strata Management Act 2013 (Act 757) that came into force in June last year unifies all previous laws governing the management and maintenance of common properties in stratified – condos and high-rise – buildings, explains Wong Kok Soo.

Wong is an adviser to the Association of Valuers, Property Managers, Estate Agents and Property Consultants in the Private Sector of Malaysia and consultant to the National House Buyers Association.

He explains that service or maintenance fees, known as “charges”, must now be kept in a “maintenance account” for the general maintenance, management and administration of the common property and building. Contributions to a separate “sinking fund” account are used only for capital expenditure, he explains.

He highlights the Act’s new measures to address the perennial problem of collecting these monies:

> Failure to pay within 14 days from date of service of billing incurs interest not exceeding 10% a year on daily rest until payment is made.

> Any restriction or action against a defaulter shall include his family or any chargee, assignee, successor-in-title, lessee, tenant or occupier of his unit.

> A defaulters’ list showing the amounts owed can be displayed on notice boards.

> A managing body can deactivate the defaulter’s electromagnetic access device without prior notice. The defaulter can be asked to sign a register upon every entry/exit. A fee not exceeding RM50 can be charged for reactivation of the device upon settlement of arrears.

> Use of common facilities/services, including car park bays, can be suspended.

> A managing body can demand payment of arrears by issuing the prescribed regulation Form 11 (used by developers and joint management bodies) or Form 20 (used by management corporations).

> A defaulter who fails to comply with such a notice of demand commits a criminal offence, and upon conviction, without reasonable excuse, can be fined up to RM5,000 or jailed for not more than three years, or both.

> The defaulter can be further fined up to RM50 for every day the offence continues after conviction.

> If the debt due is not settled within the stated 14-day period in the notice of demand, the managing body can file a claim in the Strata Management Tribunal to recover the sum. Failure to comply with an award made by the tribunal is a criminal offence and, upon conviction, the defaulter can be fined up to RM250,000 or jailed for not more than three years, or both. The defaulter can also be further fined up to RM5,000 for every day the offence continues after conviction.

Chang Kim Loong, for one, lauds the provisions under the Act.

As the National House Buyers Association (HBA) honorary secretary-general points out, proper maintenance and efficient management depends on a steady flow of payments to the common fund, so repeated failure to make those payments can wreck the whole strata development scheme.

However, he feels that there is room for improvement. The HBA, he adds, has proposed some 20 amendments to the Act and its regulations to “plug the loopholes” and address inconsistencies.

“We’ve seen the practical application of the Act’s laws. There are teething problems so we’ve made our recommendations to the Urban Wellbeing, Housing and Local Government Ministry,” he says, though he declines to elaborate on those recommendations.

But no matter how sound the law, it won’t solve anything unless strictly enforced, he stresses.

Real Estate and Housing Developers’ Association president Datuk Seri F.D. Iskandar agrees.

“Regardless of the provisions provided in the law, problems will persist without proper monitoring and enforcement,” he says.

He does feel, though, that the penalties imposed under the Act will go a long way towards encouraging unit owners to pay their fees.

“The penalties will nudge many to settle their dues and address the ‘why should I pay’ attitude,” he says.

He adds that the provisions in the new Act have given much needed recourse to developers, joint management bodies and management corporations, as they will be able to file claims with the Strata Management Tribunal.

“With further provisions to recover sums owed, including the option to auction off defaulters’ movable property, it is likely that the long-standing non-payment issue will be reduced.”

Wong actually thinks the provisions don’t go far enough. Instead of just moveable property, he says the law should provide for the seizure and public auction of the actual unit belonging to a defaulter if arrears reach a set limit.

Such a measure will have a strong deterrent effect. Singapore does this and high-rises there are free from the problem of fee defaulters, he says.

While Building Managers Association of Malaysia (BMAM) deputy president Tan Sri Teo Chiang Kok agrees – “There must be an effective process of recovery. Once the property is auctioned off, the balance can go back to the owner,” he says – the HBA’s Chang does not, saying that giving the tribunal powers of public auction would be “too drastic”.

Doing so, he feels, would be unfair and cause too much hardship, as there would be legal and technical complications that a layperson wouldn’t be able to undertake.

“Ordering an auction is a complex and serious matter that should only be dealt with by a full-fledged court. If a defaulter only owes RM25,000 and his unit is worth RM500,000, a tribunal would be ill-equipped to deal with related issues like bank collateral vis-à-vis indebtedness and price of sale,” he points out.

The point of the quasi-legal form of redress offered by the tribunal is to offer easy, cheap and speedy justice while sparing the parties involved from having to go to court, he says.

“Although it doesn’t have the power to order that the stratified property belonging to defaulters be auctioned off, such a remedy is still possible through the normal legal process.

“The tribunal’s award can be enforced by applying to the High Court for foreclosure of the property to recover all arrears,” Chang points out.

Sometimes, taking matters into court can help, says senior lawyer Roger Tan.

Although the Act defines defaulting on fees payment as a crime, Tan notes that, to date, nobody has ever been charged in court for this offence.

“Management bodies can pressure their residents to pay by deactivating their access devices and so on. But this may create more tension.

“So perhaps the most effective way to curb defaulters is to prosecute them,” he suggests.

After all, it is unfair on the law-abiding residents who regularly pay the charges when defaulters are not punished, he points out.

Defeating the defaulters

mlpk — Sun, 13 Mar 2016 12:42:37 +0800

http://www.thestar.com.my/news/nation/2016...aintenance-fee/

HAVING kind and considerate neighbours is a blessing.

For condominium and apartment residents, that blessing also extends to having neighbours who dutifully fork out their share of the maintenance fees required to upkeep the facilities that everyone shares.

The problem is, some neighbours are inconsiderate and don’t pay their share – and this is a common issue that has been around as long as there have been high-rises.

In Singapore, such irresponsible neighbours would be given short shrift because laws there provide for the seizure and public auction of units belonging to defaulters. While some have called for a similar law here in Malaysia, it is not provided for in the Strata Management Act 2013, which has been in force since June 2015.

However, the Act does provide much needed extra “bite” to local managing bodies to act against errant residents – and the Government is now taking it a step further even.

An enforcement team, under the Urban Wellbeing, Housing and Local Government Ministry, will be formed this year to make sure that all parties adhere to the provisions in the law.

The ministry’s urban service division undersecretary Mohammad Ridzwan Abidin says the team will engage with state governments and assist the Commissioner of Buildings in local authorities to execute the law.

“We want to start the ball rolling in enforcing the Act, which is still rather new.

“The team will consist of nine members, including officials from law enforcement agencies and legal experts,” he reveals in an exclusive interview with Sunday Star.

Mohammad Ridzwan says the team will look into the 34 offences listed in the new Act, including the failure of unit owners to pay maintenance fees and make the required contributions to the sinking fund (a fund used for capital expenditure).

“Residents who default on payment are one of the main sources of problems. I think if we can solve this matter, about 60% of issues faced by residents of stratified buildings can be settled,” he notes.

The flip side of the coin to this are the defaulters who are upset with their property’s joint management bodies or management corporations and refuse to pay out of frustration.

Mohammad Ridzwan says a common complaint by defaulters is that such managing bodies do not use the funds collected properly.

“However, residents who fail to pay the charges will be unable to attend the annual general meetings, denying them the power to elect the members of their management bodies,” he points out.

Whatever the reasons for not paying the fees, residents should be aware that, under the new Act, management bodies can resort to a host of penalties to impose on defaulters, such as imposing interest, publishing their names on notice boards, deactivating access cards or devices and barring offenders from using common facilities like parking lots. Also, failure to pay up is considered a criminal offence under the new Act, which can mean fines and jail time. (Further details in “It’s a crime not to pay”, page 21.)

Other offences the enforcement team will be checking on include failure of the developer to file a “schedule of parcel” to the Commissioner of Buildings before selling property units.

Calling the Act a “game changer” in managing stratified buildings, Mohammad Ridzwan says it comes at an opportune time, as more Malaysians are moving into high-rise residences.

“Currently, about 30% of the Malaysian population is living in stratified buildings.

“This percentage is expected to increase in future with more high-rise properties coming onto the market, coupled with the scarcity of land and expensive houses,” he says.

Because the Act has only been introduced recently, Mohammad Ridzwan acknowledges that not all management bodies and residents are properly aware of the new regulations.

“The ministry is planning to hold 30 seminars this year to educate residents of stratified buildings on the new provisions,” he says.

He says residents need to know more about the new law to avoid misunderstandings and conflict with management bodies.

“For example, some defaulters whose names were published on building notice boards complained to the Malaysian Communications and Multimedia Commission. They accused the management body of infringing on their privacy when in truth the management had acted in line with the new law,” Mohammad Ridzwan says.

He adds that another aspect of the problem is the mindset of residents, especially among those who move from landed homes to condominiums.

“There is a change in culture for such people, and they may not be used to paying the monthly fees,” he says.

Apart from looking into issues with residents, Mohammad Ridzwan notes that there is also a need to improve matters on the management side. For instance, only 11% of the total 15,000 strata schemes in the country submitted the required financial reports.

“The ministry aims to encourage a more civil society, especially with the urbanisation rate on an upward trend,” Mohammad Ridzwan says.

What goes around, comes around

mlpk — Sat, 12 Mar 2016 12:34:55 +0800

http://www.thestar.com.my/news/nation/2016...e-elderly-told/

PETALING JAYA: Malaysians have one piece of advice to those who abuse their elderly parents – what goes around comes around.

These words of caution came about following a survey conducted by the Department of Social and Preventative Medicine under Universiti Malaya’s Medical Faculty, which found that one in 10 urban elderly Malaysian was abused.

The outcome of the survey was reported yesterday in The Star, which cited cases such as the plight of a 72-year-old man, suffering from dementia, who was abandoned by his son at a bus station.

The Star Online Facebook page was inundated with comments about these sad stories.

Most of these commentators said that Malaysians should care for their parents in their golden years, cautioning that children who neglect their responsibility would eventually face a similar fate in the years to come.

“It’s heartbreaking to see this piece of news. Their time will come,” Facebook user Bibi Lam wrote.

Rodger Techrod said: “That’s what happens when someone is greedily seeking money.

“They don’t realise that they are losing their humanity.”

Peter Tsen commented that the ungrateful children would get a taste of their own medicine.

“What goes around, comes around,” he said.

Dalila Diyanah Hassan said that heaven lies beneath the mother’s feet.

“That is what we Muslims believe. So if you are disrespectful to your parents, you won’t even smell heaven in the afterlife.

“It is heartbreaking to see children treating their parents this way after they have gone through so much to raise them.”

Shalini Nadarajan suggested that the Government prepare retirement homes for elderly folk.

“They should be able to keep their savings, enrol in these old folk’s homes and live without their children harassing them for money.”

(The survey found that financial abuse of the elderly was most common.)

Irene Soh said: “Do not sign your house away to your children when you are still breathing. Just will it to them. As far as money is concerned, do some money management wisely and keep it close to you all the time.

“And yes, I have witnessed the elderly abused by some people I know who are community leaders and whose face appear in the news often.”

Men face higher risk of cancers linked to oral sex

mlpk — Sun, 14 Feb 2016 15:42:13 +0800

http://www.thestar.com.my/news/world/2016/...ed-to-oral-sex/

WASHINGTON: Men are twice as likely as women to get cancer of the mouth and throat linked to the human papillomavirus, or HPV, one of the most common sexually transmitted infections, researchers say.

For men, the risk of HPV-driven cancers of the head and neck rise along with the number of oral sex partners, researchers said Friday at the American Association for the Advancement of Science (AAAS) annual meeting in the US capital.

Nearly two out of three of these oral cancers in the United States and most western nations are caused by infection with the HPV 16 strain of the virus, and incidence of cancer is on the rise in recent years, said Gypsyamber D’Souza, who teaches epidemiology at Johns Hopkins University in Baltimore, Maryland.

Middle-aged white men are at particularly high risk compared to other races.

She said her research shows that youths are engaging in oral sex at increasingly young ages, compared to past generations.

“Our research shows that for men, the number of oral sex partners - as that number increases, the risk of an oral HPV infection increases,” she told reporters.

But with women, the number of sexual partners does not appear to raise the risk.

“Comparing men and women with the same number of sexual partners, a man is much more likely to become infected with oral HPV than a woman.”

Furthermore, women who have a greater number of vaginal sex partners appear to face a lower risk of oral HPV infection, she said.

The reason may be that when women are first exposed to HPV vaginally, they mount an immune response that prevents them from getting an oral HPV infection, she said.

But men do not seem to have equally robust immune responses.

“Men are not only more likely to be infected with oral HPV infection than women, but our research shows that once you become infected, men are less likely to clear this infection than women, further contributing for the cancer risk.”

HPV infection is quite common, and most people clear the virus within a year or two, she said.

In some cases, however, HPV does not go away and can lead to cellular changes in the mouth and throat, which eventually become cancerous.

Oral sex may raise the risk of head and neck cancer by 22%, according to a study published January in the Journal of the American Medical Association (JAMA).

This type of cancer has risen 225% in the last two decades.

The US Centers for Disease Control and Prevention (CDC) urges HPV vaccination for all pre-teen boys and girls so they can be protected against the infection before they become sexually active. - AFP

Year of challenges and uncertainty

mlpk — Sat, 06 Feb 2016 11:49:48 +0800

http://www.thestar.com.my/business/busines...nd-uncertainty/

Joey Yap: The volatility from last year is set to continue and may even increase, which is good for trading activities

THE energies of the Year of the Fire Monkey started going bananas at 5.48pm on Feb 4, replacing the volatile exuberance of the Wood Goat.

Will the year be better? More importantly, are there wealth opportunities and will the Monkey’s wild swinging bring about better developments?

Datuk Joey Yap, the founder, CEO and master trainer of the Mastery Academy of Chinese Metaphysics, says the Year of the Fire Monkey is one of challenges and uncertainty. The volatility from last year will continue and may even increase, which is good for trading activities.

The uncertainty in 2016 is necessary for long-term growth and to rectify the market. So stay invested.

“When we look at the Bazi chart for the Fire Monkey year, fire is in a competitive state of affairs. Wood and metal are in conflict while earth is relatively weak and water is strong for this year.”

What does it all mean?

Yap says the prominent clash of elements for this year is “fire countering metal”.

“In the top quadrant of the Fire Monkey chart, fire is too strong. There are three fire elements fighting over one metal element. Metal is also the wealth element for fire. So, there is heavy competition going on among industries in the fire sector,” he says.

This is especially among sectors in the Yang Fire element, which include oil and gas, energy and telecommunications.

“Thus, volatility in oil prices will continue. I see prices remaining in the lower spectrum until the end of this year. By the second half of the year, the water element will emerge, dissipating the fire element,” says Yap.

It is on this note too that Yap says that water is the most important element of the year.

Another obvious conflict of elements for this year is “metal going after wood”, of which both are the resource and wealth elements for fire, respectively.

Yap says the conflict between wood and metal indicates that fire-related sectors may face issues in raising capital and cash flow.

He adds that the conflict suggests challenges in determining how best to unlock or deploy the US-dollar hedge or windfall gains from 2015.

Meanwhile, yin fire in the chart is represented by technology and the electronics sector.

“There is only one yin fire in the chart, which means there is no competition. So, we would see interesting things happening in this sector such as new innovations and breakthrough. People can create value out of thin air,” he says.

Another important point he notes is that water is in the chart, but in the ground. While not obvious, its presence isn’t insignificant too. Water signifies intelligence and strategy.

“This means that there are people behind the scenes. There are unseen forces or other people who are, in fact, making the plans,” he says.

“Nonetheless, water in the ground also shows that the currents are strong, and this could mean another natural disaster related to water happening this year,” says Yap.

Who will prosper?

Unlike most people who feel Malaysia is an underweight, Yap feels 2016 will see some stability, while the improvement takes place in 2017.

“Malaysia will do better this year. The second half will be better than the first half. People will get used to the new norms, for example, the weak ringgit.

“Malaysia needs to build more strength internally. It is not as bad as it seems, and we should have more faith in our country. My advice is not to let the noise distract you,” he says.

The good directions for the year are south-east, south-west and east. The states that will likely prosper this year are Sabah, Sarawak and Johor, whereas globally, the countries that will thrive are the United States, China and Singapore.

He adds that India and China will prosper this year based on their directions in the Qi Men Dun Jia chart.

Based on the chart, he sees the presence of the white tiger, which shows that China is in control of its economy. The market may be falling now, but it will halt. “Everything is being planned by the Chinese government to reposition the country,” he says.

Yap says China also has “grass”, which means it is “selling ideas”. In other words, it means China is moving into the services sector.

In the east, there is the “surging snake”, which means a “trap” but not in a bad way. China is attracting people to do business there because the yuan is cheaper now.

While for the US, its economy will continue to thrive. However, it will have issues with policies which will lead to changes in its financial stability.

“There will be a shake-up in the middle of the year because of the fire and metal clash in the Fire Monkey chart,” he says.

A word of caution though on the presence of the “black tortoise” sitting in the west, which is a sign of a terrorist threat that could temper economic growth.

Furthermore, fire and metal clash, which always signifies fights and conflicts.

As the south-east is a good direction this year, there will be opportunities in emerging markets, especially with the presence of the wood element in this area, which represents growth.

Yap says that the US will have issues with policies, which will lead to changes in its financial stability.

“There will be a shake up in the middle of the year because of the fire and metal clash,” he says.

On Europe, Yap sees it as sustaining.

“There is no harmony and no trust. I don’t see it thriving until it gets its act together. There is no unification and trust,” he says.

Which sectors will thrive?

Sector-wise, the plantation sector, which is represented by wood, will see a recovery, as there is the presence of wood, although neither strong nor weak.

Meanwhile, earth is the wealth element of wood. As earth is weak in 2016, do not expect wood-related companies to stage a huge rebound earnings wise.

The property sector is represented by the earth element. We know that the earth element is weak, thus indicating that there are opportunities but very selectively.

“People are too conservative to buy. They are cautious but they are still buying,” says Yap.

The good news is that earth’s wealth element, which is water, is strong, indicating strong earnings for earth-related companies. As the water element is in the ground, not all developers will do well. Only certain unique developers and those with branding will shine this year.

Meanwhile, the banking sector, which is represented by metal, will perform within expectations. This is because metal’s wealth element, which is wood, is present in this year’s chart.

Nonetheless, the excessive fire element will point to some regulation and policy challenges along the way.

On another note, Yap points out that there is a dragon in the Fire Monkey’s day pillar. The dragon represents academic fields, thus, it is a good year to learn something new.

“For the employer, this is a good year. This is the year you get to hire good people at lower prices. People are the biggest asset in a company.

“For the employee, are you a linchpin? If you got retrenched, perhaps you need to ask yourself how valuable you were to your company,” says Yap.

The 12 Animal Signs for 2016

mlpk — Sat, 30 Jan 2016 11:54:02 +0800

http://www.msn.com/en-my/lifestyle/chinese...gnoutmd#image=1

As this is the Year of the Fire Monkey, it is time to review the past year and reflect on our triumphs and tribulations. While it is great to put the past in perspective and learn from it, we should also not forget to look forward and plan for the coming twelve months – this is what your fate is going to look like if you’re one of the animal signs below:

1. MONKEY
Financially speaking, your savings could lead to losses due to your extravagant lifestyle or over-spending on trivial and non-essential things. In order to overcome this or reduce financial anxiety, it will be wiser for you to invest on essential items such as an education. Furthermore, learning to adopt a prudent and economic lifestyle is crucially important to mitigate this problem. You will also need to minimize the effect of unlucky omens or refrain from making risky decisions related to lending money to others, gambling or financial investments.

2. ROOSTER
Prepare for the potential financial loss that may be occurring this year. With that being said, it is likely to be a minor loss but nevertheless, you should try your best to prevent it. Instead of mulling over the loss, you are advised to focus on something else instead. It will be a wise idea to invest on skills, knowledge and expertise, something that will strengthen your resume and give a potential boost of income. Investment on high risk items are not recommended this year despite the seemingly lucrative return. Overall, your goal should be maintaining a steady cash flow and financial course and wait for the right time to make a move.

3. DOG
When it comes to wealth, this year does not seem to be as promising as it was before and the opposite outcome will take place. You will encounter a lot of troubles, hurdles and obstacles while trying to accumulate wealth. Additionally, your current financial status may be put at risk by these difficulties, making it harder to gain progress to obtain wealth. In such a situation, knowing how to spend wisely is a crucial skill to survive during these difficult times. Save for rainy days ahead to overcome this challenge.

4. PIG
Though there is a saying that the higher the risk, the higher the return, it is best for you to hold on to the principle of avoiding risks and management. Instead of investing on risky ventures, it is better for you to choose a more stable industry such as real estate property. The value of real estate do not usually depreciate overnight and makes it the best target investment for the year.

5. RAT
Keep caution in every cent you spend from your pocket as you may suffer from potential financial losses. Luckily, these are likely to be small losses as the Three Combination of Nobleman Star is in the palace, exerting power to prevent the loss from snowballing. Therefore, financial losses tend to happen in the initial phase of decision or investments and are likely to be recovered in the later phase. Always remember to spend your money on useful and purposeful things.

6. OX
You should take care of all matters related to your finances as there will be potential problems occurring. As parts of life are usually interrelated, unintended consequences from the financial problems may end up jeopardizing your relationships. Thankfully, the presence of the Fortune Virtue Star signifies the potential existence of a Nobleman. The solution to the difficulties faced can be helped by the wisdom of the Nobleman. With the Nobleman’s assistance, what was missing can be recovered – thus, ensuring the relationship will be stable again. Remember to not lend money to others under rash and hasty circumstances.

7. TIGER
You may want to treat every penny seriously, think thoroughly before spending any expenses and stay on your budget to avoid potential financial losses. However, as the lucky star falls into the palace, previous financial losses are guaranteed to be recovered eventually. With dedication and determination, you will eventually recover financially. Your success will be dependent on whether you can demonstrate enough strength to overcome it.

8. RABBIT
Attention should be given to all the expenditures and spending to avoid the likelihood of financial loss. Luckily, these potential financial losses tend to be minor, and they seem to concentrate at the early months of the year. To prepare for that, any personal expenses and expenditures should be well-planned and thought after carefully. Adhering to such a mindset will improve your capacity in managing an economic lifestyle. Additionally, an economic lifestyle can also ensure that you get something worthwhile in exchange. By doing so, the effects of financial loss can be minimized.

9. DRAGON
Auspicious signs indicate the possibility of receiving firm support for your ambition, thus helping you build up a strong financial base, paving your way to realize your goals. Somewhere and sometime in your life, the presence of a Nobleman can always be found and this will help you increase your wealth. Your natural talents will slowly be seen at the workplace, thus drawing attention, remarks and good impression from your superiors. Your efforts and contributions will be easily rewarded.

10. SNAKE
Whether it is a gain or loss, the overall trend is more likely to remain stable. There will not be a lot of unintended consequences to worry about, as sudden upswings and downturns are more unlikely. Whatever situation that you are facing, you will be able to control it. Occasionally, plans may be delayed by a few obstacles, but this will not be as serious as it sounds. The sign shows that most of these delays will cost you very little. If you need further advice or a helping hand, you may try to seek help from people around you. The presence of a Nobleman may just be somewhere around the corner, especially at places you that you do not usually notice. Their expertise will be handy for you, particularly in the investment field.

11. HORSE
Your wealth luck for this year is rather average. Overall, there will be nothing too extreme which affects the gains and losses of your personal properties (if any). That being said, it is still advisable to be careful in terms of finances, in order to avoid unpredictable expenditures and always remember to save for a rainy day. Lending money and property investment deserves your particular and invested attention. Before making a property investment, it is wise to carry out extensive research and hasty transactions are discouraged. No matter how small an issue may be, you are better off not investing in the property if there is any indication that it will not be suitable for you. In order to avoid unnecessary quarrels, lending money should be avoided altogether.

12. GOAT
As new opportunities become excessive, prospects of investments are likely to be bountiful. Worries about the risks may come to your mind, but do not be afraid, with the support of the good fortune of this year, the return from the new investment is more likely to turn out great than turning bad. This is also a year suitable for the collection of personal debts. If a friend or a small business owes you any money, it is now a good time to start collecting it back.

PJ City Council to bar traffic offenders from

mlpk — Mon, 14 Dec 2015 18:25:45 +0800

PJ City Council (MBPJ) to bar traffic offenders from renewing road tax.

http://www.thestar.com.my/metro/2015/11/30...ewing-road-tax/

PETALING Jaya City Council traffic offenders who failed to settle their summonses will not be able to renew their road tax starting March next year.

Details of the defaulters would be submitted to the Road Transport Department, which would bar the car owners from renewing their road tax.

Petaling Jaya mayor Mohd Azizi Mohd Zain said the council received the approval to enable them to take the drastic action from the department last month.

The City Council has 4.1 million unpaid traffic summonses amounting to RM100 million.

He said in a move to encourage traffic offenders to settle their summonses before the deadline, the City Council is offering an 80% discount until Feb 29.

How to save for a comfortable retirement

mlpk — Thu, 10 Dec 2015 13:05:07 +0800

http://www.thestar.com.my/business/busines...ment/?style=biz

THE habit of saving for one’s retirement seems to be slowly becoming a thing of the past for the younger generation. These days, the Gen Y in Malaysia have an endless wish-list of items that they rather spend their money on, encouraging the culture of accumulating debt, and living beyond one’s means.

The recent study done by the Asian Institute of Finance (AIF) highlighted that Gen Y in Malaysia are experiencing significant financial stress early in their life with many trapped in the habit of emotional spending.

The study, entitled Finance Matters: Understanding Gen Y – Bridging the Knowledge Gap of Malaysia’s Millennials, showed that Gen Y were accumulating debt at a young age, with 70% of respondents who owned credit cards reporting that they tended to pay only the minimum monthly payment while 45% did not pay debt on time at some point.

This fact, combined with the unpredictable performance of our ringgit along with the rising cost of living (what with the recent drastic toll hike), presents an alarming outlook for our future in a financial setting. Can we afford retirement, let alone sending our children overseas for education?

Many of us live with the motto ‘Spend now, save later’, believing we should enjoy our hard-earned money while we can and that YOLO (you only live once).

However, the fact of the matter is, if you don’t start cultivating the habit of saving now, you will likely not ever develop it. After all, the longer you’ve gotten used to a certain lifestyle, the harder it is to downgrade to a more prudent way of living.

Why is our savings so important?

Savings play an important role in building a financially secure lifestyle. Besides acting as a cash reserve for emergencies, your accumulated savings does something of further importance – it helps you grow your money by way of investment, allowing you to achieve your desired life goals such as purchasing a property or retire at ease.

The earlier you start saving and investing, the more years your money will have to accumulate interest, which gets compounded over time. In the case of retirement savings, the earlier you start saving, the less you will have to worry about enjoying a comfortable retirement.

A HSBC report entitled The Future of Retirement, A Balancing Act released earlier this year, which reveals key findings of a global study, shows that on a global scale, retirement is not the main savings priority for 85% of working age people.

Furthermore, 65% of retirees who did not prepare adequately for a comfortable retirement did not realise this until they had retired.

Relying on our EPF savings alone is not a good idea either. The EPF 2014 annual report released this February highlighted that by age 54, the majority of members (68%) had accumulated savings of only RM50,000 and below, due to the many qualified withdrawals they had made beforehand. This amount is hardly enough to live on comfortably beyond two years.

So, how does one ensure a good build-up of retirement funds?

Save first, then spend

Cultivate the habit of saving from now itself. When you receive your salary every month, pay off your bills and put aside about 20% to 30% of your income into a savings account which you should not touch unless an emergency arises. Continue this habit as long as you’re earning.

Grow your money

Savings alone is not enough. Keeping your money stagnant in your bank account is actually causing your savings to depreciate due to the rising rate of inflation.

Once you’ve built up a substantial cash reserve for yourself, invest a portion of your savings into things like unit trust funds, which will grow your money exponentially over time. Whatever the case, make sure your returns on your investments are above the fixed deposit rate of 4%.

Private retirement schemes (PRS) are also gaining in popularity due to government endorsement and incentives.

PRS works similarly to EPF, except that the contribution is completely on a voluntary and on an as-and-when basis. Your investments are able to be withdrawn once you hit the age of 55 years old, and in the meantime, you have the option of switching to other fund managers if you wish.

Up to RM3,000 of PRS contributions are tax deductible each year, and for those below 30 years of age, the Government will sponsor a one-off payment of RM500 for those who contribute a total of RM1,000 to your PRS funds within a year. These incentives were put in place to encourage both the young and old to take charge of their retirement planning from early on.

How to begin investing your money?

You may think that investing takes up too much time and effort. However, one company has come up with an Internet-based investment platform which is increasingly attracting the attention of many investors.

Headquartered in Singapore, Fundsupermart.com is a financial products distribution platform which reaches out directly to investors in a B2C business model, as well as independent financial advisories and financial planners in a B2B business model.

Mainly dealing in unit trusts, the platform makes investment easy by allowing do-it-yourself investors to buy into unit trusts, savings plans, and contribute to PRS, all through one online platform, Fundsupermart.my.

The portal offers a zero sales charge policy for all its PRS funds. For more information on PRS, click here.

Take charge of your financial health and retirement planning before it is too late. Start your saving and investment efforts now to ensure that you have a worry-free and comfortable retirement.

Your KPI for personal financial success: Net worth

mlpk — Sat, 26 Sep 2015 10:01:41 +0800

Your KPI for personal financial success: Net worth

http://www.thestar.com.my/Business/Busines...orth/?style=biz

HOW does one measure personal financial success?

Some think it is to do with the balance in your bank account while others use their salary as a guideline.

If you’re one to keep up with the Forbes list of top wealthiest, however, you’ll see that the measure of financial success is neither of these two values.

For example, topping the list is none other than Bill Gates with his net worth valued at a whopping US$79.2bil. Locally, sugar, palm oil and real estate tycoon Robert Kuok takes the spot with his net worth commendably valued at US$9.1bil.

In my previous article, I have outlined how investing with net worth in mind is far more efficient as compared to only managing your investments with return on investment (ROI) in mind. ROI is in fact merely a single factor of several which affects the end result – your net worth.

What is net worth and why is it important?

Net worth is essentially a monetary value from which is derived after totalling up your total assets – such as the value in all your bank accounts, shares investments, unit trust investment, the current value of your properties, EPF and so on – and then subtracting the total value of all your outstanding debts such bank loans and taxes.

While net worth is used to gauge your current financial standing, it also serves as an excellent key performance indicator for investing. It quantifies each good and bad financial decision you make thus rendering it one of the best measures of one’s personal wealth. How does this work?

Let’s say you decide to pay more than your monthly mortgage repayment to settle your loan sooner. While you think your wealth has shrunk due to the fact that you have less cash to your name, in the long run you benefit from lower interest charges, therefore increasing your net worth.

For medium to long-term investments, it makes better sense to take a little risk and invest in a few blue-chip stocks than to take the risk adverse path by keeping any surplus cash in a bank account. The quality and payoff of the decision to invest in blue-chip stocks would be reflected in the growth of your net worth some five to eight years from now.

Having a positive net worth also provides you with financial security.

Let’s say, for some reason tomorrow you lose your job. A person with large savings and zero debt (high net worth) would have a more worry-free time in between jobs, as compared to the next person who had a high paying salary but zero in savings and a large amount of debt (negative net worth).

Similarly, a person with a high net worth has the freedom to pursue his or her life’s dreams and ambition even at the expense of drawing a low starting salary. On reflection, a person with negative net worth will not have the luxury and freedom to do as such.

From this scenario, you can already see the different dynamics net worth provides as compared to the mere value of your take-home pay or the amount in your bank account.

How does one increases net worth?

To increase your net worth, you’ll need to shift your attention to these four drivers illustrated below. (see chart)

The four drivers of net worth growth are savings, ROI, risks and costs. All these factors work in tandem to influence your net worth as a whole.

To increase your net worth, you’ll need to:

> Increase your savings

Savings is the raw material needed for your net worth growth.

To increase your net worth exponentially, you need to invest. And to invest, you’ll need to have capital. Thus the more you save, the more investment capital you have at your disposal.

The good news is that, among all the drivers for net worth, savings is within your control. The amount you end up saving annually is entirely dependent on your discipline and saving habits.

For example, you would have accumulated RM549,143.57 at the end of 20 years if you have saved RM12,000 annually with an 8% return. For an additional RM48,000 savings per year, i.e. RM60,000, you would have accumulated RM2,745,717.86 instead. The difference that you have accumulated in your savings could go a long way.

In fact, the more you save, the better it is because it makes you less dependent on the other three factors.

> Increase your ROI

The higher the ROI, the faster your net worth will grow.

Naturally, a unit trust giving you a return of 8% annually is preferred over fixed deposits with 4% return. The investment vehicle with the higher return would grow your net worth faster.

Beware of the risk-return trade-off. It is generally understood that the higher the ROI (more than 12%), the higher the risk. You could lose part, if not all, of your investment capital, an outcome which could be a terrible setback to your net worth.

Contrary to what some people might choose to think, ROI is a driver that is not within anyone’s control.

> Decrease your exposure to risk

Risks is also beyond anyone’s control.

While you’re taking active steps to grow your net worth, you’ll need to also take measures to protect yourself against any risks of losing your net worth.

The higher the risks, the higher the potential of your net worth being depleted.

Health-related risks, for example, could deplete the net worth you have spent years to achieve. Without medical insurance, you may have to fork out a lump sum of RM30,000 during a medical emergency. However, for a small monthly fee, you can transfer this risk to an insurance company, thus preserving your net worth value.

Investment risks should be taken into account as well. The Genevva gold scam and the infamous Madoff investment scandal are two perfect examples of investment fraud. Investors had lost millions, many losing 100% of their money because they were blindsided by the upside and failed to consider the risk of capital lost. Those who suffered the loss of their entire life savings also irrecoverably have their net worth affected.

Therefore, always take the time to do your research and due diligence and study your options before you part with your hard earned money.

> Decrease your costs

Most people may not realise this but cost can be a factor which will deplete your net worth. Therefore, one should strive to decrease all unnecessary costs that limits net worth growth.

For example, those who have purchased properties at a higher interest rate should strongly consider revising their interest rate now that the rates have dropped.

A difference between a 20-year housing loan for RM500,000 at an interest rate of 8.6% versus 4.6% is phenomenal – with the former, you’d end up paying RM548,995 in interest, where else with the latter, you’d only fork out RM265,672 in interest payment. A quick revision here could save you money otherwise spent unnecessarily.

Another cost to look out for is the cost of estate administration upon death.

Ironically, many of us spend the majority of our energy and waking hours working in one way or another to grow wealth, but fail to realise the one major cost that could cripple all that we have strived for when we pass on.

Estate administration cost can often reach the leagues of hundreds of thousands of ringgit. Drawing up a comprehensive estate plan for your net worth or inheritance could save you and your loved ones from unnecessary costs incurred (for example, legal fees, administration fees and fees for court proceedings).

Final thoughts

Getting a snapshot of your overall financial health regularly will give you a measurement of progress over time, motivating you to reach your financial goals. As such, net worth should be meassured on a regular basis – at the very minimum once a year.

Growing one’s net worth also involves a multi-dimensional approach.

ROI may play an important role in one’s pursuit of wealth, but it is a means to an end, not an end in itself. To assume such would be just like placing all bets on a singular number in a game of roulette.

Most investors make the rookie mistake of focusing solely on ROI as a means to grow wealth without realising that there are other elements at play.

To increase your overall wealth, it all boils down to the four drivers of net worth growth – savings, ROI, risks and cost, and how effectively you manage them.

Now that you know the four cornerstones of growing net worth, it’s time to put it into practice and steer your way to a financially promising future.

Daily Bank Negara Currency exchange rates

mlpk — Fri, 25 Sep 2015 12:36:40 +0800

Daily Bank Negara Currency exchange rates

http://www.bnm.gov.my/index.php?ch=statist...ype=Buy&unit=rm

MRTAs & MLTAs – What are they, and do you need it?

mlpk — Thu, 27 Aug 2015 10:30:11 +0800

http://www.starproperty.my/index.php/artic...d-do-i-need-it/

MRTAs and MLTAs are variants of life insurance products. Known as Mortgage Life Insurances, they are designed to pay off the outstanding loan balance in the event that the borrower dies or suffers from total and permanent disability (TPD) before the loan is fully paid off.

There are two types of mortgage life insurance available:

1) Mortgage Reducing/Decreasing Term Assurance (MRTA or MDTA)
2) Mortgage Level Term Assurance (MLTA)

Note: MRTT / MLTT = Takaful equivalent

Mortgage Reducing/Decreasing Term Assurance (MRTA or MDTA) / Takaful (MRTT)

MRTA or MDTA is a reducing term life insurance:

It protects the borrower against death or TPD
The sum assured reduces with time – Gradually decreases to nothing by the end of the tenure
The premium for this insurance is dependent on the sum assured and the tenure of coverage, as well as other factors pertinent to life insurances (E.g. Age, gender). Customers can choose the tenure and sum assured, and the premium is paid up front.

One thing to note is that MRTA/MDTA policies follow the property loan rather than the policy owner. As such, a new policy has to be taken for each new property that a person has, or whenever he refinances his loan. Some banks/insurance allow transfers of MRTA policies to another property upon request, but this is rare.

It has become common for borrowers to take up this policy along with a mortgage loan for a few reasons:

Most convenient, as it is typically packaged as an option together with the loan
Some lenders allow the cost of insurance to be added to your loan amount
Some lenders offer better interest rates if a borrower signs up for a MRTA/MDTA policy with them.
The idea behind MRTA/MDTAs is that as your loan balance decreases over time, so should the sum assured, thus saving on premiums. The premium for this type of insurance is cheaper than MLTAs
Mortgage Level Term Assurance (MLTA) / Takaful (MLTT)
MLTA is closer in nature to traditional life insurance policies:

It protects the borrower against death or TPD AND (Key difference) Option for 36 Critical Illnesses.
The sum assured does not decrease with time.
Borrowers can choose to expand their coverage to include more than death or TPD (E.g. 36 critical illnesses).
Borrowers can choose to have a savings feature, where a portion of the premiums paid accumulate as a cash surrender value.
MLTAs are not typically packaged as an option together with the loan, but must be taken up separately with 3rd party insurance providers. Premiums are higher than MRTAs, and are paid on a monthly, quarterly, half-yearly, or yearly basis.

MLTA policies are transferable to other properties. As such, the policies can be used to insure new property loans, or when you refinance the property. Borrowers can adjust the sum assured as required without having to prove your health/age again.

This option is more commonly used by more sophisticated borrowers for short term property purchases.

SOHOs and serviced apartments – Commercial or

mlpk — Mon, 10 Aug 2015 11:27:43 +0800

SOHOs and serviced apartments – Commercial or residential titles?

http://www.starproperty.my/index.php/artic...dential-titles/

Are SOHOs and serviced apartments under commercial or residential titles? Can residential properties be used for commercial purposes? Christopher Chan finds out.

SOHOs and serviced apartments built on commercial title – what are they actually?

Under the National Land Code 1965 (Act 56), land is categorised into one of the following uses: “Agriculture”, “Building”, or “Industrial”. Under the “Building” category, there is an express condition in the title (known as “Syarat Nyata” in Bahasa Malaysia) that states whether the land is to be used for residential or commercial use.

http://vault.starproperty.my.s3.amazonaws...._cokwong_21.jpg

As an example, you can see the title below of a land in the District of Gombak with a “Building” category for residential use. This is also a Malay Reserve Land.

Let’s have a look at the express conditions in the master title for Scott Garden’s SOHOs in Old Klang Road and Marc Residence (Serviced Apartments) in KLCC.

http://vault.starproperty.my.s3.amazonaws....s_cokwong_3.jpg

The express condition in the master title for Scott Garden’s SOHOs states that “Tanah ini hendaklah digunakan untuk bangunan perdagangan bagi tujuan kedai pejabat dan pangsapuri servis sahaja“. For Marc Residence, it is stated as “Tanah ini hendaklah digunakan untuk bangunan perdagangan bertingkat bagi tujuan pangsapuri servis sahaja“.

The individual strata titles for units of both of these developments have yet to be issued and that is why we are looking at the master titles at the moment.

Therefore, we refer to these developments as being on a commercial title as it is stated as “untuk bangunan perdagangan”. Therefore, on the same reasoning, the quit rent, assessment and utilities are usually charged based on commercial rate by the authorities.

For a stratified development, the master title (encompassing one piece of large title for the whole development to be developed by the developer) is deemed as the “Parent title” while the individual strata title (issued to the individual purchasers) can be deemed as the “children title”. Just like a human being where we inherit the DNA structure from our parents, the conditions in the master title would naturally be the same conditions as stated in the individual strata titles.

http://vault.starproperty.my.s3.amazonaws....s_cokwong_1.jpg

The Housing Development (Control and Licensing Act) Act 1966 (Act 118) and Regulations was amended in 2007 to widen the definition of “housing accommodation” to include SOHOs and other similar developments. The new definition is as follows: “Housing Accommodation” is defined under Part 1 sub-section 3 of Act 118 on “Interpretation” to include any building, tenement or messuage which is wholly or principally constructed, adapted or intended for human inhabitation or partly for human inhabitation and partly for business premises and such type of accommodation as may be prescribed by the Minister from time to time to be a housing accommodation pursuant to section 3A.

Under the above definition, SOHOs and the likes, would fall under the definition of a housing accommodation and therefore they are subject to Act 118.

Can residential properties be used for commercial purposes?
It is interesting to note that the Petaling Jaya City Council (MBPJ) has, for some time now, allowed residential homes to be turned into commercial use as provided for in the Petaling Jaya Local Plans 1 & 2.

I paid a visit to MBPJ on June 30 to seek clarification on this matter. Interestingly, my findings are as follows:

> The MBPJ allows certain residential areas to be turned into “limited commercial use” as provided for in their local plans. This is allowed for certain areas in Petaling Jaya such as Jalan SS2/24 (partial), Jalan Universiti (partial), Jalan Utara (partial), Jalan Kemajuan, Jalan Gasing and Jalan Penchala (partial), among others.

> Limited commercial use means that the council allows for certain types of commercial activities such as art galleries, showrooms (excluding cars), agencies (including tourism, advertising and real estate agencies) and Care Homes for the elderly, among others. One may obtain a booklet from the council titled, “Garis Panduan Bagi Membuat Perubahan Matan Perdagangan Dan Perniagaan Di Majlis Bandaraya Petaling Jaya” dated July 14, 2007 for more details on this.

http://vault.starproperty.my.s3.amazonaws....s_cokwong_2.jpg

It is interesting to note that quite a number of these properties have not been formally converted to commercial use as such. They have merely been given an approval by the council to be used for the above mentioned purposes, subject to an annual payment of RM2,000 to the council. One would need to continue to renew this on a yearly basis. The title of these properties remains residential as stated in the express condition.

Beginning next year, MBPJ will cease to allow the yearly annual payment of RM2,000. This means that the owners should then proceed to convert their land from residential into commercial use.

The owner would have to apply under section 124 – “Variation of Conditions, Restrictions & Categories” of the National Land Code 1965 for approval. For this, one would need to apply at the Petaling Land and District Office.

>> Christopher Chan is a registered estate agent and an associate director with Hartamas Real Estate (Malaysia) Sdn Bhd.

Durian is most expensive fruit

mlpk — Fri, 07 Aug 2015 14:07:17 +0800

There were uncle expressing how expensive durian in detail.

Durian is the most expensive Fruit if calculate by per seed basis.

eg if Musang King is RM30 per kg

1 KG durian inside got 6 seed/unit or lesser, mean each seed/unit is rm5 each++ (expensive than mixed rice/chicken rice if eat more)

those d24/101/xo etc in packets going for rm15, inside have around 6 to 10 seed/units, each is rm1.50 each

But people nowadays dont care eat first suffer later concept. NO $$ open charity company people will donate (no need to work). no $$ borrow more, slowly pay concept. leveraging etc

enjoy now suffer later RIGHT (no eye see when go heaven better)

All you want to know about titles to real estate

mlpk — Tue, 30 Jun 2015 12:16:16 +0800

All you want to know about titles to real estate but dare not ask!

http://www.starproperty.my/index.php/artic...t-dare-not-ask/

A TITLE is defined as a person’s right of ownership of property. In a sense it is a birth certificate to a property much like what it is to a human being.

To fully comprehend and appreciate what I am talking about here, we would have to go back in time and take a walk down memory lane tapping into our rich source of history in relation to titles.

Historical perspective
Prior to the arrival of the British, land tenure in Peninsular Malaysia was based on customary land tenure. Under customary system of land holding, any person who carried out the task of clearing waste land was entitled to occupy it provided he cultivated it and gave one-tenth of the produce to the State.

In Sabah & Sarawak, similar customary land ownership systems were also in existence. When the British arrived on our shores, English laws of property and conveyancing were introduced where privately executed deeds were the basis of title to land. Deeds are basically a written document signed and sealed as proof and record of an agreement.

Under the British system of deeds, this essentially represented a chain of title deeds all of which had to be in place to enable a property to be transferred. Problems arose when one document in a stack went missing. This may frustrate a transfer of a property from one person to another.

Torrens system
Later when British influence and rule spread to the rest of Peninsular Malaysia, the new Torrens system of land registration was introduced. This system had only recently been ‘discovered’ in Australia and was the beginning to be found superior to the existing English system as it enabled a simple, cheap and effective system of land tenure and registration.

The Torrens title system provided a secure and reliable land title system.

The Torrens title system – named after South Australian Sir Robert Richard Torrens, who was largely credited with designing and implementing it – is a method of recording and registering land ownership and interests.

Established in South Australia in 1858, the then revolutionary and efficient land titling system was adopted throughout Australia and New Zealand, and subsequently spread across the world. Countries now using the system include, among others, England and Wales, Ireland, Malaysia, Singapore, Iran, Canada and Madagascar.

The distinct advantages of the Torrens system as compared to the English system are as follows:

> The land titles Register accurately and completely reflects the current ownership and interests about a person’s land.

> Because the land titles Register contains all the information about the person’s land, it means that ownership and other interests do not have to be proved by long complicated documents, such as the English system.

Torrens created a central registry where all transfers of land are recorded in the register, thereby producing a single title with a unique number that also records easements, mortgages and discharges of mortgage.

The main object of the Torrens Title System is to make the register conclusive. Once your name is registered on the Torrens Title register, you become the owner of the property to the exclusion of all others. You therefore obtain ‘title by registration’, which is a pivotal concept under the Torrens system.

Central to the Torrens system is the concept of ‘indefeasibility of title’. Based on this concept, once an interest is registered, it is good against the whole world. The State guarantees the interest. No one can then go and claim your interest in the title.

This applies provided that the title deed to your property has been issued and has been registered into your name. For circumstances where your title to your property has yet to be issued by the authorities, you are then not accorded with this ‘indefeasibility of title’ for the time being. In this instance, your rights to the property are contractual rights as provided for in the agreement executed between you and the other party.

The main land law in Peninsular Malaysia today is the National Land Code (NLC) 1965 which came into force on 1 Jan 1966. The concept of ‘indefeasibility of title is deeply embedded in the NLC. Sabah and Sarawak have their own sets of laws: Sabah Land Ordinance 1930 and Sarawak Land Code 1958.

(This is the first part in a series of articles).

>> Christopher Chan is a registered estate agent and an associate director with Hartamas Real Estate (Malaysia) Sdn Bhd. He has been in the real estate industry for 22 years. He can be contacted at +6012-2323 837 / christopherchan@hartamas.com.

SS2 Long-awaited facelift

mlpk — Fri, 15 May 2015 21:03:53 +0800

http://www.thestar.com.my/Metro/Community/...aited-facelift/

ALTHOUGH talk about redeveloping parts of SS2’s bustling commercial centre has been around since a couple of years back, it is only now that some of the plans are becoming concrete, literally.

A two-month-old sub-committee, set up by Petaling Jaya city councillor for SS2 Lee Suet Sen, is studying several issues affecting the commercial area and how best to rejuvenate it.

Each of Petaling Jaya’s sections have a business area which used to fulfil the business and shopping needs for the nearby residential areas.

However, as neighbourhood malls mushroom and become a permanent feature in the Klang Valley, these business areas are beginning to see a decline as businesses move out due to less traffic.

Aside from three ongoing works in SS2’s central park, the sub-committee, which includes the Petaling Jaya City Council’s (MBPJ) Engineering, Planning, Environmental Health and Landscape departments, is also looking into 10 other issues on how to improve the commercial area’s condition.

Housing the hawkers One major issue is that of illegal hawkers operating in the SS2 morning market, which stretches along Jalan SS2/62, and how best to tackle the problems of legalising and housing such traders.
Licensed morning market traders have alleged that the illegal traders are undercutting their business as the latter are not paying lot rental and waste collection fee, while adding to the growing mound of waste at the council dumpsite.

Lee said the council was aware of the problem, adding that there had been previous plans and efforts to improve the situation for both licensed and unlicensed traders.

“There had been a plan mooted to demolish the current Medan Selera SS2 food court and build a double-storey structure in its place, where the upper storey will house food hawkers and the ground floor will be for the market traders,” he said.

Previous SS2 councillor Tony Cheong had mooted such a building, which would have also included the “Ibumie” hawkers across the Sea Park police station, but the plan never got off ground.

“Building a larger structure would have allowed us to house all traders, who would now be licensed, in a fairer manner, rather than the unlicensed traders blocking off the licensed ones by setting up stalls outside the designated lots,” Lee explained.

If the market and food court structure do not materialise, an alternative is to turn Jalan SS2/62 into a covered street market akin to Petaling Street and other similar locations oversees.

Sources revealed to StarMetro currently considering both options.

Meanwhile, a more immediate solution is being taken to help solve the rubbish problem, which hawkers and customers have been raising a stink about.

The dump, located behind the food court, was intended for only market traders, Medan Selera SS2 as well as “Ibumie” hawkers.

“But there are outsiders coming here to throw their garbage and overloading the bins, so this is an immediate issue which the council’s Engineering Department is trying to resolve,” said Lee.

Department director Ismail Shafie said the total cost of rebuilding the designated rubbish site is RM65,300.

Model toilet

Similarly, the current councilrun washrooms, located in Jalan SS2/63, will be demolished once construction of a “model washroom” on the other side of the park is completed.

“The new toilet, measuring 211 sq m is estimated to cost RM230,000, will feature a host of amenities such as a surau, utility room, nursing room and a disabled-friendly cubicle,” said Ismail.

Cheong said the washroom with accompanying amenities was also previously mooted, first in 2012, but was rejected by Petaling Jaya’s then-mayor Datin Paduka Alinah Ahmad.

It was proposed a second time and approved in 2013. The initial budget of approximately RM400,000 was halved to its current amount, although the cost is still cheaper than similar facilities in other states,” said Cheong.

Traffic situation

One major problem and the bane of all who visit the area is its congested roads, a situation Lee is hoping to change by proposing that MBPJ re-examine its parking space layout in the commercial area.

“A reason for the traffic congestion here is because of cars circling about looking for a parking space. In some parts of the commercial area, we have allotted more space for parking, especially with the current herring-bone system along Jalan SS2/64,” he said, adding that if successful, it would add another 70 bays.

Tied in with this is a 1.08ha piece of vacant land in Jalan SS2/64 owned by Sea Housing Corporation Sdn Bhd.

Lee said negotiations were in progress to encourage the owners to either develop the land or possibly lease it.

In the latter case, he said MBPJ was mulling the option of operating a parking lot to further alleviate the parking problem in this commercial centre.

Lighting up the area

Engineering solutions aside, the authorities’ plans to turn SS2’s commercial area into a popular destination also involves art, such as the recent wall-art competition organised by MBPJ alongside the Damansara Utama assemblyman’s office.

Currently, nine pieces of wall art decorate certain side lanes around the commercial district.

Additionally, MBPJ is looking at lighting up the back alleys, a move Lee said depended on the 2015 Budget.

“If the funds allow, we will go ahead this year, otherwise, we will submit it by August for inclusion in next year’s budget,” said Lee.

Gamblers think using instinct they can win big,

mlpk — Fri, 08 May 2015 10:44:32 +0800

http://www.star2.com/health/mind/2015/05/0...cience-says-no/

Gamblers think using instinct they can win big, science says no

Frequent gamblers may think they’re on a winning streak, or the cards are in their favour, yet in reality these are impulses, according to a new study published in the Journal Of Gambling Studies.

These impulses grab them to the point where they are willing to bet considerable money on what is pure illusory non-randomness, according to the study. In other words, gamblers use a wrong sense of belief that they can see patterns even when there are none.

In the study, the international research team worked with hardcore gamblers and members of the local community.

They showed participants a picture of a casino and two slot machines and asked them to predict how many tries it would take to obtain a coin from the slot machine on the right or left.

One slot machine had a 67% chance of winning, a significantly higher probability than the other, which gave out only a 33% chance. Order of outcomes was random.

A rational person would bet on the machine with a higher chance of winning however a phenomenon exists in which individuals match their response proportions to the outcome probabilities.

In other words, 67 %of the time, they bet on the slot machine bearing the 67% odds of winning and 33% of the time they bet on the slot machine that bears 33% odds of winning.

This is called “probability matching” and it’s not a good way to be successful.

Prior studies show that gamblers experience illusory perception of patterns, or a false belief, in random sequences that inspires probability matching, giving the gambler the mistaken impression that instinct will lead them to make the best bet. This is impossible given the randomness of the game, say the researchers.

In the experiment, participants who were gamblers practiced more probability matching behaviour, which the researchers conclude makes them more vulnerable to illusory pattern perception.

The gamblers scored lower on a cognitive reflection task to measure impulsivity. In this task, the researchers asked questions such as “A bat and a ball cost $1.10. The bat costs $1.00 more than the ball. How much does the ball cost?”

The question seems simple but takes a bit of reflection because the response of 10¢ could easily come to mind, but gamblers would give an answer of 5¢. This is because gamblers want to answer questions quickly without stopping to think about it believing that their instinct and being impulsive is important to get to a right answer.

Gamblers tend to bet that they can answer the question swiftly and succinctly without stopping to think about it.
Ironically, the researchers say that humans are generally good at identifying actual patterns.

The study’s findings have broad implications for a large body of research suggesting that cognitive distortions mark the difference between social gamblers and the pathological kind. – AFP Relaxnews

Maintenance fees may go up over 10% with GST,

mlpk — Sun, 01 Mar 2015 11:14:03 +0800

http://www.thestar.com.my/News/Nation/2015...sidents-warned/

Maintenance fees may go up over 10% with GST, residents warned

PETALING JAYA: Owners of condominiums, apartments and flats have been told to brace themselves for higher maintenance charges from April although such fees have been exempted from the Goods and Services Tax (GST).

Building Managers Association of Malaysia (BMAM) president Tan Sri Eddy Chen warned that the rise could be more than 10% to meet the anticipated higher operating costs.

He said although GST would not be imposed on maintenance fees, the management bodies still had to pay GST when they called service contractors like electricians to fix problems.

Chen said maintenance fees should be set higher than 6% if the non-payment by defaulters were taken into account.

“In the case of low and medium cost flats, about 40% of the owners do not pay their monthly maintenance fees of between RM35 and RM70 monthly.

“So, even if only 50% pay, the maintenance fees will have to be increased by 12% to cover the shortfall and the 6% in GST to be paid to service providers.”

BMAM is an umbrella body comprising 25 stakeholder organisations representing management corporations (MCs), joint management bodies (JMBs), chambers of commerce, developers, engineers, architects, shopping and high-rise complex managers and managing agents.

BMAM deputy president Tan Sri Teo Chiang Kok said there were currently 1.8 million strata properties in the country, out of which 90% are residential.

He said the association was concerned that more low and medium cost flat owners might default when the GST kicked in.

“We have reminded all JMBs and MCs to call for open tenders and only select those offering the best service at the lowest cost (to keep maintenance fees low),” he said, adding that owners might reject a proposed fee rise during the JMB or MC general meeting but “they cannot escape the GST”.

Association of Valuers, Property Managers, Estate Agents and Property Consultants in the Private Sector Malaysia (PEPS) and National House Buyers Association (HBA) adviser Wong Kok Soo said 99% of the maintenance charges collected by JMBs and MCs were channelled to the service providers, contractors, suppliers and utilities, which were all subject to 6% GST.

“They will be compelled to increase their maintenance charges to pay the GST input tax,” he said.

He said that in January, a petition was sent to the Finance Ministry by the HBA, PEPS, the Royal Institution of Surveyors Malaysia (RISM) and Malaysian Institute of Professional Property Managers (MIPPM) to exempt the maintenance charges of all stratified properties for residential usage from GST.

However, he said only goods and services under the zero-rated supply list would be able to get a GST input tax refund from the Customs Department.

“The HBA, PEPS, RISM and MIPPM had a discussion with the Finance Ministry, Federal Treasury and Royal Malaysian Customs representatives recently and will continue to engage with the authorities until all major problems regarding GST in the stratified development areas are resolved,” he said.

BMAM treasurer Prof S. Venkateswaran said exemption was preferable to zero-rated status.

“As it stands, JMBs and MCs with revenues less than RM500,000 a year are automatically exempted from GST. Most low and medium cost flat JMBs and MCs come under this category.

“Assuming that JMBs and MCs with revenues exceeding RM500,000 a year are granted zero-rated GST status, the move would still result in some JMBs and MCs facing serious financial problems as being zero-rated would require the JMBs and MCs to have GST software and hardware in place.

“This will cost a minimum of RM4,000 to RM5,000 per month, including cost of staff,” he said.

He said overall, it was less expensive if all JMBs and MCs were granted a blanket exemption from GST as they would be able to save on administrative costs and procedural hassles when filing claims for GST refunds.

“No matter which way it goes, GST will invariably bring an up-front increase in costs for all owners, suppliers and service providers,” he said.

Paying Bills at POS office/bank etc

mlpk — Tue, 20 Jan 2015 15:59:53 +0800

Paying Bills at Pos office/Bank/Land office/Acesssment Office/JPJ/indah water takes few hours. Those selangor/kl etc land office shifted never inform, and some more encounter people never receive bills for years.

Some bills never stated balance bring forward if not pay, just the present bill amt for land office/cukai pintu/accessment Bill etc. everything also have to find ourselves the hard way.

Slow motion taking own sweet time, whether pay or dont pay, it wont care

The queue is long and the staff taking there own sweet times serving customers daily. stack of bills to pay utilities/hp/astro,roadtax, driving license etc.

alot of people dont use online and alot still dont trust online. it want hard copy printout, just in-case in future they say yr bill have not pay etc.

Take a whole day running from place to place (north to south ) and queuing from 1 place to another. if system down worst still.

Should implement more outlet to pay bills. really headache

Problems is people want official the latest hard copy resit of the acessment/land office/ cukai pintu/indah water etc by lawyer for processing of property documents. eventually have to pay at the counter in order to show its have being pay