Lowyat.NET: Latest topics by disco333

Maybank Overseas Mortgage Loan Scheme

disco333 — Wed, 24 Jul 2024 15:20:35 +0800

Has anyone acquired a loan via the following scheme:

https://www.maybank2u.com.my/maybank2u/mala...oan_scheme.page

Is there any flexibility on margin of finance? I have cashflow but want to limit initial capital investment so would be looking for 90%/95% finance + coverage for transaction fees (circa 5.5%). Would be buying in Melbourne FYI.

Thanks.

Working remotely from Malaysia

disco333 — Wed, 02 Mar 2022 11:08:00 +0800

I am currently an Australian PR and will be getting my citizenship later this year. My current employer allows me to work overseas for up to 3 months at a time which is great but I would like to work from Malaysia permanently if possible. It's very early days but my intention is to move back to Malaysia when I get citizenship here in Australia and work remotely for either an Australian company or some other overseas organisation. I work in a field where there is reasonable demand for my services and I can get work quite easily here for around AUD150k to 200k p.a. but if I move back to Malaysia and work in a similar role I think my earning capacity will be around RM120k to RM180k only. This is why I want to take advantage of possibly working for an Australian or other overseas entity from Malaysia on a remote working arrangement (I'd happily take a 10/20% discount on the salary if it means I can work from Malaysia on a permanent basis).

The purpose of me starting this thread is to understand if anyone is on a similar work arrangement? If you have experience in this area, can you please help me with the following queries:

1. What are the type of companies who would hire on this basis? Per my understanding and discussion with tax personnel at my current place of work, for Australian companies there is a risk that that allowing an employee to work overseas creates what they referred to as a 'permanent establishment' overseas and this results in complex tax implications which is why they avoid it. Are US based regulations more accommodating of these type of work arrangements? If not the US, where else should I be potentially focusing my attention i.e. which countries have the most relaxed remote working laws?

2. Is it better to set up a local company and invoice the hiring the company as a consultant? This would obviously mean I don't get annual leave, long service leave and other employment benefits but from a local tax perspective would it be favourable?

3. If it ends up being contract work - would you recommend getting an agent? If you have a good one operating in the finance space can you please PM me information (if not possible - no worries)?

Thanks - any input at all would be greatly appreciated.

Watch advice

disco333 — Sat, 09 Feb 2019 21:44:02 +0800

Hi all,

Am not particularly familiar with the Malaysian watch scene. I actually don't like in Malaysia anymore - moved away a couple of years ago to Australia but still regularly visit home. I know for a fact that watches are cheaper in Malaysia then Australia. My first relatively good watch was a Oris Artix Moonphase that I paid RM7,500 for in Malaysia and the same watch in Australia was not going for any less than RM10k.

Anyway, I am heading back in June and am extremely keen on picking up a Omega Seamaster Aqua Terra 150m with a black dial and steel bracelet either in the 38mm or 41mm. The catch is I don't really want to pay more than RM15k and am not sure if this is possible. I am guessing retail in Malaysia would be around RM23-24k. Has anyone had any luck negotiating down to around this amount?

If I can't get it for that price I will probably go for a Tudor Style 41mm or Tudor Black Bay 41 in the same black dial and steel bracelet combination. If you guys have any other suggestions for watches that fit this style - please drop me suggestions. I'd love to hear it. I'm open to secondhand watches as well but being someone who isn't a watch aficionado I am afraid I'll get conned into buying a dud.

Sorry if this is not the right place for this post.

Thanks!

Malaysian cars in Singapore

disco333 — Thu, 17 Jan 2019 16:41:49 +0800

Hey all,

Quick question for those of you familiar with legislation around driving your locally registered vehicle in Singapore. I recently received a job offer in SG and was wondering if I could drive my car into SG and then back every five days or so? A brief glance online tells me that a Malaysian vehicle can stay in Singapore for a maximum of 14 days but says nowhere whether it is cumulative. So my plan is to work in SG Monday to Friday and drive back to KL on Friday night, spending the weekend here. Would that be possible?

Loan againt fully paid house

disco333 — Mon, 15 Jan 2018 21:53:19 +0800

Hi all,

Seeking a little advice with regards to a financial quandary I'm facing. I turn 27 this year and currently reside in Melbourne. I work professionally and have done for the best part of 4 years. However due to my insane spending habits have saved very little money. To put it into perspective I have around RM20k put aside. My salary per month here in Melbourne equates that and I've been on this salary for the best part of year. Before leaving Malaysia I was on around RM66k per year. What I'm trying to say is that I've not saved very well at all. That is on me, I own that.

So with that said, I now realise that as I mature I need to start making better financial decisions. I currently pay way too much for rent and that cost is not something I am ever likely to recover. For that reason I'm now looking to buy a home here in Melbourne. Unfortunately as I'm not a PR/citizen (on a 4 year 457 visa and am optimistic of landing a PR) there are a number of restrictions I would have to overcome. The biggest one being the fact that I would need to come up with around 30-40% up front. Now assuming I look to buy something in the $500k range, that's approximately $150-200k. I don't have that kind of money and it will take a long time before I am able to amass anything close to that.

I don't come from a super rich family, we're comfortable but certainly not the kind of family with millions in the bank. As such, if I wanted to come up with that kind of money I would need a loan. My parents have a fully paid up home worth around RM1 million and I was wondering if it were possible for me to take a loan against the property without a deed transfer? If possible, what is the maximum I could realistically get? I'm hoping for around RM600k over 3 years which should be around RM3.5k/$1.2k. That's manageable for me. I could then use that as down payment for a property here, which I should also be able to pay quite comfortably.

Few questions for you folks:

1. Possible?
2. If possible, a good idea or bad idea?
3. Any general comments?

***$ references AUD

Pay off and quit?

disco333 — Thu, 23 Jun 2016 19:38:21 +0800

edit

Can you be jailed for failure to settle debts?

disco333 — Mon, 17 Jun 2013 02:08:37 +0800

So, at dinner last night it emerged that my uncle in serious debt. He owes RM500k+ on a housing loan and RM200K+ in credit card loans. He's servicing the credit card debt through AKPK but is facing civil action of the outstanding housing loan. Now, he claims that there the property was never transferred to his name and is looking to fight his case. He's 65 with no property to his name or any other assets for that matter. He works a day job and makes just enough to support his family.

I want to know if anyone could be jailed for failure to settle debts. I ask this because my uncle seemed jovial enough. I didn't want to ask him or my parents as it's not really my place and I wasn't really a part of the discussion.

I worry for him. To the best of my knowledge they can't but I'm not entirely sure.

Buying a car in Australia?

disco333 — Mon, 06 Apr 2009 23:01:28 +0800

I will be moving to Australia next year to further my education and will live with a friend who lives 20 minutes away from my prospective campus. My father was initially reluctant because I already have a car but looks like we will sell that at the end of the year and I can get a car in Australia.

I have no clue as to how cars are priced there and need some help. I want to know early because I will ask my friend to start looking, she doesn't know too much about cars so every time I bring it up she gets annoyed so at least if I have a model then she will be more cooperative.

Will I be able to afford a BMW E46 Coupe, that would be my first choice but my useless friend is of no help. She keeps saying she doesn't know, so frustrating. I would like a Mercedes, Audi or Bimmer if possible, I know a brand new one is out of the question so the best possible secondhand one will do.

Alfa Romeo 147

disco333 — Thu, 05 Mar 2009 15:21:34 +0800

I am thinking of getting this car, I am currently driving a Volvo S40 '00 and feel likes it's a family man's car. I am only 17(18 tomorrow) and have had the car for about 5 months(bought secondhand for 45k). Anyway, I talked to my father and he has agreed to allow me to change my car. He has always wanted a spare car so the S40 will be used as the utility car. So, my budget is 60k and I have what I think is the perfect car for me.

http://www.mudah.my/alfa-147-2-0-two-doors...8811.htm?ca=9_s

I went there today after college to test drive it and it seems to be in excellent condition. The owner upgraded to a 3.2L Golf and sold for that reason supposedly. Beautiful looking car from the front. Handles well and good acceleration. Selespeed is efficient with city, gearstick and the paddles.

For that price would you look at any other car? If so which one?

The negatives from I can gather is reliability isn't great, expensive repairs, depreciation, exhaust box will develop rust in time and of course high fuel consumption. Still the positives far outweigh the negatives and it would take a miracle for me to change my mind.

Also, if I get that model in the ad. I will probably paint it white and stick some black rims on it with the remaining RM5k(he went down to RM55k but I think he will go a little further). Or, would black with chrome rims look better?

Good car? Yes or no? If you were in my position what would you do?

Car shipping

disco333 — Mon, 12 Jan 2009 21:40:39 +0800

How much does it take to ship your car to Sarawak?

Degree in Engineering

disco333 — Mon, 12 Jan 2009 17:10:34 +0800

After my foundation I plan on doing a degree in Engineering and I have shortlisted a few Universities that I would like to do it at.

#Monash University (35k per year)
#Swinburne University (21k per year)
#Taylor's University College (unknown)
#Nottingham University (31k per year)

Obviously, both Monash and Swinburne offer twinning programs in Australia. That is a huge benefit as I have family there and the exchange rate isn't too high. As for Taylor's and Nottingham University, you twin with a UK University which could be problematic but then again you could do the entire degree locally.

Could someone please tell me the fees structure for Taylor's and also the pro's and con's of the three other Universities listed.

A degree in International Business

disco333 — Wed, 31 Dec 2008 01:41:39 +0800

I am planning of doing this major in Monash along with another major but I am not sure what that will be.

My question is what is the salary scope etc

Basically tell me whatever you know about this degree.

Also, if you had choice between this and Chemical Engineering what would you do?

Foundation at Sunway or Taylor's?

disco333 — Wed, 03 Dec 2008 19:36:15 +0800

Well, I finished my SPM only recently and have spent the last few days trying to map out a path for my future. Unfortunately I have struggled to decide on anything, however I am pretty sure that I want to go to either Taylor's or Sunway. I will probably pursuit a future linked to the field of science so which of those options do you think would favour me best.

Taylor's official website isn't as informative as I would have liked, they do not state the fees of the courses they offer so if anyone knows the exact figure for the courses available please do post it. Sunway have posted the prices of the courses so that is not a problem.

Fifa 'six-plus-five' rule

disco333 — Fri, 04 Jul 2008 15:22:51 +0800

I vote a resounding no. What I want to do is to identify the numerous and gaping flaws in Septic Bladder`s latest harebrained scheme, the 6+5 rule. Bladder is globally renowned as a self interested moron. George Orwell once wrote that 'political language is designed to make lies sound true; murder sound respectful and give an appearance of solidarity to pure wind.` But Bladder doesn`t even attempt to cover his motives. He contends that having an all English final in this year`s Champions League is damaging. Strangely, he didn`t find 2003s all Italian Final a problem, nor 2001s all Spanish final. Well, simple suggestion Sepp, let`s go back to having one team per country competing Europe`s premier competition. Make the Champions League for Champions again. Problem solved. Of course, having the likes of Barcelona, Chelsea, Arsenal and Juventus excluded from next year`s competition would harm your profit margins, but hey, you`ve got the interests of football at your heart here haven`t you? Oh I see, its international football that also concerns you so deeply. (Another of your money spinning cash cows to be milked). Maybe if you didn`t insist on packing out the international calendar with so many useless (but money spinning) friendlies, players would actually get their desire for representing their country back and actually play like they give a toss. If you could unwrap your sweaty palms from around the udders for a second, you might see a generation of footballers who retire early from international football, under perform in tournaments due to burn out.

Still I don`t see how the 6+5 ruling will benefit international teams. Sure, more homegrown players will get a chance, but if they`re not good enough to break into their teams without this institutionally prejudice golden handshake, aren`t we just packing teams with average or below par players at the expense of quality? Brilliant, international managers will have more crap players to choose from. How does this enhance the quality of your product Mr. Bladder? What it does do is denigrate the quality of domestic competition greatly, to the point that people will not continue to line your pockets by paying extortionate sums to watch mediocre football. This 'throw s**t at a wall and see how much sticks` policy simply cannot work. It will not even the playing field with regards to domestic competition either, if anything it will widen the gap. If this ruling goes through, then Chelsea, ourselves, United and Liverpool will simply buy up the Youngs, Agbonlohors and Richards` of this world and stockpile them. With the price of indigenous players massively inflated, these clubs will not be able to afford even the most average replacements. So the quality of the overall league goes down and the megabucks "big four" widen the chasm.

Let me posit a scenario for you. Let us say this ruling was in in 2003. Arsène Wenger has to tell Cesc Fabregas, "you`re an excellent player, but I cannot play you. So Steve Sidwell will play and I will sell you back to Barcelona." Right, so Sidwell gets handed a place in the team, he enjoys an unmerited run and gets picked for England. Excellent. England play Spain, where Steve Sidwell comes up against Cesc Fabregas in the centre of midfield. Now, at some point, for the national side to prosper, Steve Sidwell has to outshine Fabregas and England have to overcome their foreign counterparts. How does the 6+5 rule help? Eventually, Fabregas` superior ability will supersede Sidwell`s and the whole exercise will have been a waste of time. By handing them guaranteed places in the starting line up, without the player having to work remotely hard or compete, where is the incentive for Sidwell to improve and make strides as a player. If I knew that, upon leaving school, I would be guaranteed a cushy job irregardless of my qualifications or ability, I would not bother going to get a degree or even try and build up my CV.

Football is the one of the only truly Capitalist institutions that exists, insofar as I understand the word 'Capitalism.` Sport is not politics. A person`s success in football is based entirely on ability and work ethic. Creed, colour, nationality and even social class (one doesn't have to be affluent to obtain a round ball and a couple of makeshift goalposts) do not inform somebody`s ability to be a successful and prosperous footballer. Best man succeeds, best team wins. Chelsea and United got tot his year`s Champions` League final because they knocked out every other team that stood in their way. Therefore, they deserved to be there.

In my honest opinion, it is utterly rubbish and I don't see how anyone could support such discriminative laws!

Trinity College

disco333 — Mon, 30 Jun 2008 19:50:12 +0800

Is anyone planning on going to Trinity? I have decided that it would be a great pathway for me as it offers direct entry in the University of Melbourne. The best part about Trinity is that it is purely a college and it offers only foundation courses, the good thing about this is that you will be able to learn on your own level and a higher emphasize will be placed on the students. Also if you score a certain grade you are guaranteed a place at University of Melbourne! The University of Melbourne constantly ranks as Australia's best university.

Will anyone be joining me in Trinity?

Best manager of our time?

disco333 — Sat, 07 Jun 2008 20:16:58 +0800

Your choice?

Mine is Arsene Wenger...

Also don't b**** because there is no Michels, Busby, Shankly etc. Managers of our time...

Most overrated English footballers?

disco333 — Thu, 05 Jun 2008 12:18:19 +0800

The most overrated footballer in England is...........

Best player to come out of Barcelona?

disco333 — Tue, 03 Jun 2008 19:09:00 +0800

Messi would be the obvious choice but my vote is for Fabregas

Hyperhydrosis aka sweaty palms

disco333 — Thu, 29 May 2008 22:32:20 +0800

I have very sweaty palms and it can be very disturbing. A simple everyday activity like shaking hands is made difficult. It is a problem that has plagued me since I turned thirteen or fourteen, besides having trouble shaking hands in mass I also have difficulty when sitting for exams. I tend to smudge what I have written as it is usually at it's worst during times of stress. However, stress is not it's only catalyst. It comes almost all the time.

It is very frustrating to have sweaty palms. Surgery would cost RM13K according to one doctor I consulted, above the cost of surgery I would also have to spend on accommodation and transport as the surgery is only conducted in SINGAPORE!

Does anyone suffer from this as well? If so what have you done to remedy the situation apart from surgery?

AUSMAT, SAM point system

disco333 — Tue, 18 Mar 2008 19:06:27 +0800

I was just wondering how you count the points. In order to enroll at Monash (engineering) you need 85, can someone tell me if that is very high?

If you do the MUFY program, you will need 270/400 to qualify so it preety straight foward and seems like not too much to ask, roughly 70%.

My question is, when Monash say 85 do they mean 85% or something else. If they do mean 85%, why is the standard so much higher compared to MUFY?

The reason I ask this question is because the MUFY program will cost RM16K whereas SAM wil cost RM10.5K. Both programs run for the same duration so no problems there, it would greatly benificial for me on a finicial scale so please help