Lowyat.NET: Latest topics by Shining star

Crytocurrency -Biance Latest News

Shining star — Tue, 06 Jun 2023 17:44:11 +0800

[B]Just very shock to see the news... that US SEC Sue Binance, the largest online Crytocurrency trading.

https://www.cnbc.com/2023/06/05/sec-sues-bi...violations.html

Anyway, Nothing much we can do
And investor from Malaysia should be less compare to USA as Binance is not regulated in Malaysia.

And apart Binance, may be other Cryto currencies operators would also kena,,,
https://cointelegraph.com/news/sec-labels-6...er-binance-suit

Anyone have any view to be shared,

Dutamas Month Kiara

Shining star — Fri, 27 May 2022 11:53:12 +0800

Hi All,

There will be a new development of a Rumawip or Residensi Wilayah in Mont Kiara.

The project name is Dutamas
RM 300k
✨ 900 SQFT
✨ 359 units in total
✨ 7 Level Parking Podium
✨ Condominium Facilities

The location is opposite of ALIX residensi or behind of shell petrol station (Toll Duta).

May be the KWP portal will have this project listing soon.

Digital Bank License

Shining star — Fri, 29 Apr 2022 18:12:01 +0800

Finally, the finalist of the Digital bank License been announced by BNM

https://www.thestar.com.my/business/busines...l-bank-licences

KUALA LUMPUR: Bank Negara has announced the five successful applicants for the digital bank licences as approved by the Minister of Finance Malaysia.

According to the central bank, these applicants are to be licensed under the Financial Services Act 2013 (FSA):

a consortium of Boost Holdings Sdn. Bhd. and RHB Bank Bhd;
a consortium led by GXS Bank Pte. Ltd. and Kuok Brothers Sdn. Bhd; and
a consortium led by Sea Limited and YTL Digital Capital Sdn Bhd.
The following applicants are to be licensed under the Islamic Financial Services Act 2013 (IFSA):

a consortium of AEON Financial Service Co., Ltd., AEON Credit Service (M) Bhd and MoneyLion Inc.; and
a consortium led by KAF Investment Bank Sdn. Bhd.
Bank Negara said three out of the five consortiums are majority-owned by Malaysians namely Boost Holdings and RHB Bank Bhd, Sea Limited and YTL Digital Capital Sdn. Bhd. and KAF Investment Bank Sdn. Bhd.

Governor Tan Sri Nor Shamsiah said digital banks are expected to further advance financial inclusion.

“By adopting digital technology more widely for everyday transactions, we can significantly increase opportunities for our society to participate in the economy - by overcoming geographical barriers, reducing transaction costs and promoting better financial management,” she said.

“Digital banks can help individuals and businesses gain better access to more personalised solutions backed by data analytics. As businesses move online, digital banking also provides a safer and a more convenient way to transact,” she added.
Bank Negara said all 29 applications received were thoroughly assessed pursuant to section 10 (1) of FSA, and IFSA, which require Bank Negara to consider all the factors in Schedule 5 of the Acts and other relevant policy requirements.

The assessment criteria cover the character and integrity of applicants, nature and sufficiency of financial resources, soundness and feasibility of business and technology plans as well as ability to meaningfully address financial inclusion gaps.

Applications were assessed on their individual merits, as well as relative to other applications based on consistent evaluations of each assessment criteria.

This horizontal review is based on the assessment criteria applied across all applicants to determine the relative strength of each application and identify successful applicants.

Following this announcement, the successful applicants will undergo a period of operational readiness that will be validated by Bank Negara through an audit before they can commence operations. This process may take between 12 to 24 months.

In line with the 5 strategic thrusts stated in the Financial Sector Blueprint 2022-2026, Bank Negara will continue to work with the financial and fintech industries and relevant stakeholders to continuously enhance access to financial services throughout the country and across all segments of society.

Manulife Ifund Investment

Shining star — Wed, 30 Mar 2022 11:37:12 +0800

Hi All,

May i know anyone whom got invested recently to Manulife Ifund during the limited time offer?
In their offer, if any one invested RM 3000 into PRS and Regular saving plan of RM 250/month for minimum 6 months
Then they could entitled for E-voucher 200 as the picture

https://asia.manulifeam.com/ifunds-offers-my.html

But guess what happen after the customer claim the voucher upon maturity of period?
They just don't attend to calls and response in email even you chase them numerous times....

ONCe you finally caught them, they use weeks to "study" your request.
Finally they rejected the voucher by finding 'fault' and giving many reasons like the fund you invested was not entitle, the sales charge you paid was less.

Damn you, how investor nor customer know? and why you didn't explain clearly when customer invested the fund during the "limited time offer"?
Manulife have to act professional by handle it well by assign someone duly explain to their customer in 1st place which fund can be invested by filter off some selection (invest in automated process la) and lead your customer buy the right fund through out some link [B][COLOR=red]to avoid disputes.
Not customer bought the fund from your platform and you diam diam....

This is the worst experience, i will ban to buy any Manulife financial product.
Investor can choose from other Fundhouse like RHB, Principle, Public and etc... or just transact in FSM...
These fundhouse and platform have very clear instruction, transparent and responsive.
Customer feel happy and respected, then they will keep buying to roll up the investment.,

International Court Ruled That Malaysia Must Pay R

Shining star — Wed, 02 Mar 2022 15:42:45 +0800

An international court ruled that Malaysia had violated a treaty signed in 1878 and now will have to pay at least US$14.92 billion (RM62.59 billion) to the descendants of the Sulu sultan, almost 20 years after making the last payment to its heirs.

The government was ruled to violate the treaty after deciding to stop the Sulu sultan heirs’ annual RM5,300 cession money payment in 2013 following the Lahad Datu incursion.

In a report by Malaysiakini, the award was issued in an arbitration court in Paris, France by Spanish arbitrator Gonzalo Stampa.

Stampa ruled that the agreement, which was signed on Spanish soil, constituted a commercial “international private lease agreement”.

The treaty was signed on 22 January 1878 by Sultan Jamal Al Alam of Sulu with Baron de Overbeck and Alfred Dent of the British North Borneo Company that stipulates North Borneo (Sabah) was either ceded or leased (depending on the translation used) to the company in return for a yearly payment of 5,000 Malayan Dollar.

Read More: Malaysia Has Been Paying Sulu Sultanate Every Year Over Sabah, But Not Anymore

The Sulu sultan’s descendants were represented by a Spanish law firm, the B Cremades & Asociados together with London based Paul Cohen and Elisabeth Mason.

They initially wanted to claim US$32.2 billion (RM135.08 billion) from Malaysia to recover the unpaid cession money and with how much they believed they should have been paid for the oil and gas found in the region.

The report also said that Malaysia has three months to pay RM62.59 billion to the Sulu sultan’s descendants or being risk incurring extra interest unless the award is cancelled.

The Madrid High Court had previously annulled Stampa’s appointment on grounds that Malaysia was not properly informed about the case and was thus “defenceless” when the case was first heard before it was moved to Paris.

Malaysia was not represented in the Paris arbitration hearing however it was reported that Malaysia is challenging Stampa’s validity to hear the case in criminal court.

https://www.msn.com/en-my/news/national/int...ocid=entnewsntp

I Serve Mall

Shining star — Wed, 17 Nov 2021 11:58:09 +0800

Anyone has invested to I-Serve online mall or anything to I-serve branding kind of investment?

Not sure this I-serve is to the I-serve that provide "online solution" to Air asia, simm card solution...
https://i-serve.com.my/

As to the news today.
BNM, SC, Police and other regulators has raid their operation....and seized RM 118 Million.
https://www.thestar.com.my/business/busines...mall-affiliates
https://www.bharian.com.my/berita/nasional/...sita-rm118-juta

If investors need to invest and doubt whether they are legitimate.
Just ask to SC and don't simply trust any company said they are regulated by SC.
Even they are not in the alert list don't not mean they are legitimate...
https://www.sc.com.my/investor-empowerment/...ated-complaints

Or alternatively, you may contact BNM
https://www.bnm.gov.my/contact-us

Selangor Rumah Idaman

Shining star — Fri, 29 Oct 2021 13:51:08 +0800

Most of us knew those affordable houses from government. Let focus those few segments in Klang valley
A) Federal governmeny has PRIMA
B) For government servant -PPAM
C) Wilayah has Residensi Wilayah (or Rumahwip), for Putrajaya, they has a special Residensi Wilayah Prihatin
D) Selangor has Selangorku.

Now. Selangor launched another segment called "Rumah Idaman"
Take note that the unit is said to be 1000 sq ft with 3 bedrooms and 2 toilet. 2 parking. These units located in those areas like Bandar Saujana Putra, Shah Alam, Puchong, Cyber South, & Bandar Puncak Alam.
https://harianpost.my/rumah-idaman-selangor/

Add more surprise is they will give complimentary kitchen cabinet, refrigerator......

So when i heard "refrigerator", it remind me these projects would be "terminator" to other affordable house or open unit that located in above areas...

Bukit Jalil residence - Vierra Resident

Shining star — Tue, 26 Oct 2021 14:16:38 +0800

Anyone come across this new launch?
https://www.rumawip.com.my/properties/bukit...puchong-border/

ASN New Global Equity Fund

Shining star — Thu, 02 Sep 2021 18:38:01 +0800

Hi All,

Just in two days ago.
[/COLOR][/B][COLOR=blue]Permodalan Nasional Berhad (PNB) or Amanah Saham Nasional Berhad had launched a Global new Equity fund.
For more details, can log in below link
https://www.asnb.com.my/pdf/media/berita/20...0Aug%202021.pdf

So far ASNB didn't say it's a fixed price or variable price fund,
But i guess likely an variable fund as the previously launch ASN Imbang Global (Global Balance Fund)
https://www.asnb.com.my/dpv2_thedisplay-print.php?pgL=1

By Just RM 10, you can start to invest.
the entry barrier is lowest for ANSB, as other fund minimum 500 or 1000.

Pls survey before invest.

Personally, i still prefer those fixed price fund (ASM 2 and ASM 3) which was capital guarantee.

Anyone to share idea?

Air Asia Ride

Shining star — Thu, 26 Aug 2021 18:01:33 +0800

As to the reported news, Air Asia is launching their latest E-hailing services (Similar to Grab).
https://soyacincau.com/2021/08/24/airasia-r...to%20find%20out.

Next time Air Asia app user can call a ride.
If have better affordability, you can call Pilot or Cabin crew to drive you.

As consumer, we are happy more player to come in and in other way, may be more voucher and promotion from existing player like Grab.
Just one question, apart from lady cabin crew, can we ask Tony to drive us ah? but we pay the same fare to Cabin crew...

From my study, this type of e-hailing new portal called "Shared Economy", all operators need a critical mass to sustain their business.
The set up capital (APP, system, IT backbone and etc) may be high initially, after reaching a certain volume, then they can break even.
So all operators are chasing volume.

Anyway, not all Shared economy work, in 2-3 years ago. KL is the host of the SEA games.
That time we saw many Bicycle was set up near the stadium and major streets for ease of ride.
But it was failed due to many reasons, among them
A) Malaysia is Cibeh hot, how to ride bicycle under hot sun, especially 1pm to 3 pm?
B) APart hot weather, suddenly would be rain.
C) Safety concern, may be during you ride on Bicycle, some car/motor knock you.. or your hand bag robbed.
D) Lack of Mentality, sorry to say, most of citizen (don't say only Bangla). we would not take care it.

Let focus back to Air Asia ride, what your opinion? and will it beat Grab?

Property purchase and subsequent cost

Shining star — Sat, 05 Jun 2021 11:54:33 +0800

Hi, all.

Below is my experience, survey and information shared by other group-
Main subject: what would be the cost after you get your key after Vaccant possession from developer?
A) Renovation cost
It depend what you want, and the cost are varying.
-Full Grill: about 2.5K for a 1,000 sq ft house with n ormal coating, if SUS steel will be more
-Table top: about 1K to 2K
-Wall Cabinet: about 3K in Kitchen only
- 1.0 Air cond: 1.0K non inverter
- 1.5 Air cond: 1.4K non inverter
- lightning and lamp : 14 points about RM 1.1K including the material and workmanship
- Non-pump Water heater - RM 400/pc including installation

B) Maintenance cost
Around 300 including sinking fund (for those strata title)
Utility fee (broadband, water and electricity) you pay to operator.

C) Cukai pintu and Cukai Tanah, home insurance
-Cukai tanah and insurance paid to management office (for those strata title)
-Cukai pintu pay to local council like MPKJ (DBKL etc)

D) cost of finance
Your monthly installment or may include additional of MLTA, MRTA etc.
If you target for rent out the property, you need to pay agent fee (1 month rental).

E) Legal fee stamp duty and MOT
Pre-purchase[/u]
You need to pay loan legal fee and stamp duty during sign the SNP
** Assume you purchase from developer directly and they cover SNP loan and legal fee

Post purchase[/U]
Depend on property selling price, example for RM 350K.
It about RM 6-7K as MOT
Usually you will get MOT within 1-2 years after you get your key.

Although MOT exempted for those whom has purchased house under HOC 1.0 or HOC 2.0.
But LHDN will still has the right tio access your profile, eligibility etc and send you love letter.....

F) LHDN audit
This is most importance.
any one who has bought properties in recent few years and LHDN send love letter to you? i think they are sending it batch by batch.
soon be your turn.
It just like number game in money game. more letter they send will increase their chance to get some tax penalty from public.
From the letter, LHDN will just penalize you firs based on their assessment and ask you to pay the fine before any discussion.
They gave your 1 month to reply from the date of letter. But in actual case, you only hv less then 3 weeks to response.
Because when you get the letter, it may be already 1 week after send from LHDN.
So be backup your file in case you get LHDN request...

Investment in Private funding

Shining star — Sun, 23 May 2021 04:19:07 +0800

Hi Anyone has experience approach by some marketing company to invest in private funding ? They claimed their funding approved by security commission.

Because any deposits to any fund must get approved from SC and BNM.

Serdang Signature Sky Villas

Shining star — Sat, 10 Apr 2021 22:22:19 +0800

Hi Any existing buyers for this Serdang Signature Skyvillas?

Because the developer has been dissolved and change to another developer.