28 February 2014(iii)

bank worker?

In this two weeks, i visited the bank almost at a rate of one per day.. as if i'm working at the bank now.. and i foresee i am making a few more trips there in this coming weeks...

some banks wanted to do the business so much that they offer crazy goodies, goodies which i never knew i could have once upon a time..

there's the special rate, the waiver fee, the vip parking sticker, and i dont even need to queue up if i ever wanted to get a transaction done? and i get points for paying my house and car debt? really?? since when that come into play... and i thought only bonuslink or credit card got points when we pay our fees

I'm only 10% off my targeted saving.. and i hope i can reach it by the end of this year.. and yes, i understand some people can easily achieve this in a matter of few months..

if i didn't waste my money on silly things, i could have achieve it by now... thinking back, i could have imagine how naive and dumb i was.. what a loss of substantial amount of money.. but

a person once told me "money gone can always earn back"

anyway back to the topic..

bankers are all blood suckers... period..

28 February 2014

Back in March 2013, the 2012 Household Income Survey announced that the Malaysian households’ monthly income rose from RM4025 in 2009 to RM5000 in 2012. It’s a 7.2 per cent increase in total, and it was even announced that all states in Malaysia recorded better average monthly household incomes with Kuala Lumpur leading with the highest growth of 14.9 per cent from RM5488 to RM8586. Overall, the increase is a positive one, with credits due to stable and strong economy.

Yet with the prices of everyday items rising, especially since the petrol price hikes, the significance of this means very little as our spending power remains weak. But are we really that worse off? We took a look at how our spending power compares to some other countries.

Average monthly income across the globe

While the current economy is rising slowly, it’s not without its share of obstacles and troubles. Here’s a chart on the average monthly income in four countries, including Malaysia.

Country	Average Monthly Income in 2012
Malaysia	RM5000 (or RM8586 in Kuala Lumpur)
United States of America	US$4251 (RM13965)
United Kingdom	£2796 (RM15064)
Singapore	S$7570 (RM19551)

Here are some interesting notes about the average monthly income in these different countries. In America, while the average monthly income is slowly rising in the past years, it is considered flat. These numbers show that Americans are actually earning much less than their average monthly income back in 1989, which was US$4306 (RM14145). As one American aptly described; it is a loss of a generation of economic gains for America.

The United Kingdom isn’t doing too well either due to high energy prices, making their current average monthly income the lowest in three years. In reality, household spending power in the UK has been slashed for while they do have a total income of £699 (RM3766) a week; they are left with just £155 (RM835) after paying bills and taxes.

Singapore is the only country that’s average monthly income has been growing, with it being at S$7570, an increase in the past five years.

Spending power in Malaysia vs. other countries
Despite the rise of Malaysia’s average monthly income, the cost of most items in Malaysia remains high and its citizens continue to struggle to support families and themselves. But even so, branded coffee such as Starbucks continues to be popular despite the price hike with an average price of RM12. In America, the price of a normal Starbucks costs roughly US$1.85 (RM6), which is significantly cheaper compared to their monthly income for sure. Even so, it was announced that Starbucks coffee prices would rise by 10 cents, showing that even America isn’t immune to the rising prices.

Eating out is also a problem here in Malaysia. An average meal costs about RM8 to RM10 here, which takes up to RM600 or more per month. A Big Mac at McDonalds costs RM7.95 a-la carte, while in the UK it’s £3.50 (RM19). In terms of amount, it may seem like a reasonable price for a meal. But based on the earlier deductions, UK citizens only have £155 to spend, so they don’t have the pleasure to buy Big Macs whenever they please.

Of course, not all countries are having it as tough as Malaysians. While still generally an expensive country, the average monthly income for Singaporeans allows them to spend a lot more. Whilst hawker fare in Malaysia costs RM5-6; the ‘conversion’ is 1:1 as Singaporean hawker food can also cost SGD5-6 (RM13-16). So if in terms of money value based on food purchases alone, we’re almost as good (or bad) as Singapore.

A Malaysian Dilemma
The situation in Malaysia isn’t ideal, and we all wish we could have the same sort of spending power as other countries. But on the bigger perspective, Malaysians aren’t the only ones having it tough. Though yes, there are still many ways of which Malaysia is definitely lacking and undoubtedly a number of items 10 cents, showing that even America isn’t immune to the rising prices

car resale 2014

 

The ‘Golden Rule’

When purchasing a car for the first time, many novices will be flabbergasted at the choices out there in the market: the design, the size, the price, safety features, specifications, the brand…. and then there’s the resale value. Many car experts are of the same opinion that a first-timer should purchase a car with a higher resale value, unless you’re planning on keeping that car till it’s destined for the scrap-metal yard. Even this writer’s car mechanic had this to say when he asked for an opinion on buying a Peugeot: “Don’t buy (that car) lah, choose Toyota or Honda, even Perodua also has better resale value. You buy those fancy fancy cars, next time cannot sell you regret for life ah!” But how are we to know the resale value of cars?

If we were to take into consideration that all the salespeople in car showrooms try to persuade you with sweet talk about how the cars they sell are good in all aspects, then ALL the cars in the world would be the perfect car! Let SaveMoney.my take you on a walk through the top 5 cars that have the highest resale value in Malaysia:

Resale values

The resale value of a car is the value that the car retains after you have used the car. For example, you buy a car today at RM100,000, and after 5 years you decide to sell your car to get a new one. Your car will have a different value in the market 5 years from now. Let’s say that amount is RM50,000. This will be the resale price of your car, which is 50% of its original price (RM100,000). The 50% is then considered as the retained/resale value of your car.

In this article, the retained values of the cars are those after 5 years (i.e. since 2008). To estimate the value of the cars, we averaged the selling prices for each of the cars based on the list of the cars for sale in carlist.my. The minimum sample used for calculation is 20 cars for each model. The average selling price is then divided by its original value in 2008 to find the percentage of value retained by the car.

5. Perodua Myvi, Mercedes Benz C-Class (Retained Value: 65%)

The Myvi has been so popular ever since its first launch back in 2005 that whenever you happen to glance out of your window, there will always be one Myvi on the road as well. The EZ 1.3 (auto) variant has been the most popular even until today among second-hand car dealers.

The Mercedes Benz is a German luxury car in a class of its own, having immense popularity to the point where we often find second-hand car dealers specializing in selling Mercedes cars alone. Despite commanding a high price, it retains a great value upon reselling. The C200K variant is the most popular in Malaysia and together with the Myvi, retains 65% of its value after 5 years.

Perodua Myvi EZ 1.3 price 2008: RM47,781
Average Resale Price 2013: RM31,060

Mercedes Benz C200K Price 2008: RM248,888
Average Resale Price 2013: RM160,620

4. Toyota Camry, Toyota Altis (Retained Value: 66%)

The fourth spot on this list is taken up by a pair of siblings from the Toyota family, which manages to retain 66% of their values after 5 years. First, the Toyota Camry which is also known as the “boss’s car” in Malaysia, is popular not only as a new car but also as a used one. With sleek looks and wonderful inner comfort in addition to the high resale value, it’s not hard to see why.

The Toyota Altis is by no means a car that is any less impressive, though it lives its life in the shadow of its sibling. The Altis is a cheaper and sportier option compared to the Camry where the 1.8G type is the more popular variant amongst the other variants.

Toyota Camry 2.0E Price 2008: RM139,066
Average Resale Price 2013: RM91,594

Toyota Altis 1.8G Price 2008: RM117,900
Average Resale Price 2013: RM77,410

3. Mini Cooper, Toyota Innova (Retained Value: 67%)

The Mini was first made by the British Motor Corporation (BMC) but was subsequently bought over by BMW, and it comes in third with the Mini Cooper, retaining 67% of its value after 5 years. Despite its smallish size, this European car (in various colours) provides excellent comfort for its drive.

Toyota once again shows why it’s one of the stronger players in the automobile market. The third one in the list, the Innova, is the only MPV (Multi Purpose Vehicle) to make the cut. The family car was launched in 2005 (taking over the Toyota Unser) and has been a hit for families looking for a car to fit in all of their children.

Mini Cooper Price 2008: RM195,000
Average Resale Price 2013: RM130,180

Toyota Innova 2.0G Price 2008: RM110,000
Average Resale Price 2013: RM73,470

2. Toyota Vios (Retained Value: 68%)

Yes, you guessed correct. Toyota Vios just has to be in the list, doesn’t it? The most popular sedan in many countries all over the world has become the bestselling non-national badged vehicle, achieving record sales in 2012. It is the fourth Toyota in the list (they seem to be dominating don’t they!) and is loved by the young and old Malaysians alike.

Toyota Vios 1.5E Price 2008: RM78,700
Average Resale Price 2013: RM53,460

1. Honda Civic (Retained Value 69%)

The number one car on this list isn’t a Toyota (surprised?) even though it has been quite the dominating brand, but rather the Honda Civic! Retaining 69% of its value after 5 years, it’s not hard to see why with the slick design of the Civic (as opposed to the elegant Accord, or the sporty City) appearing to appeal to Malaysians the most, especially in the second-hand market. The Civic was released in two variants, one with 1.8L and one with 2.0L. The 1.8S Civic is currently the more popular variant and retains more value than its compatriot.

Honda Civic 1.8S Price 2008: RM113,800
Average Resale Price 2013: RM78,779

Of course, there are other factors that can influence the resale value of your car other than its brand and model alone. One of them is the maintenance of your car. Want to know how to keep your car nice and healthy? Feel free to be guided by our Car Service and Maintenance Manual!

Cars with the highest resale values

No.	Car(s)	Retained Value
1	Honda Civic	69%
2	Toyota Vios	68%
3	Mini Cooper, Toyota Innova	67%
4	Toyota Camry, Toyota Altis	66%
5	Perodua Myvi, Mercedes Benz C-Class	65%

super rich to charity

WHAT is the commitment of our super-rich to charity?

By super-rich, I mean those whose assets run into the tens of millions, many of whom seem to be running shy of publicising their giving and other acts of charity.

There are many who give quietly, eschewing the publicity that such acts beget and that is, indeed, their right. Theirs may be the philosophy of "the right hand not knowing what the left hand is doing".

There is no denying the merit accruing from this style of thinking.

But billionaire Tan Sri Vincent Tan seems to be bucking the trend over the past few years, preferring the proverbial "song and dance" over his acts of philanthropy.

And why pray tell is he doing this?

In his own words as the founder of Berjaya Corporation faced an august audience of royalty, well wishers, business associates, staff and members of the public recently, "to give back to society".

At this point, I can almost hear some minds out there thinking that a columnist in Berjaya-owned theSun is required to make these sounds to please the big boss and earn his keep.

I beg to differ, and those who have been following this column for the past eight months will have noticed that I have no favourites except the poor, needy and unfortunate in our society.

I have criticised the rich for not doing enough for their poorer cousins besides picking apart policies that favour the affluent over their lesser brethren.

But when someone gives RM25.6 million to 90 non-governmental in a little over 60 minutes in an act of charity, I am compelled to write about it, whoever it may be. And this gels very well with Tan's philosophy behind giving: so that other wealthy people like him can emulate his deeds and help the unfortunate in our midst.

He did not mince words when he exhorted the wealthy to give at least 10% of their wealth to society which helped in their wealth creation. He was not always like that.

Tan was the epitome of the financially well-off Chinese businessman who kept a low profile in terms of philanthropy ostensibly so that he would not be frowned upon as a show off.

It took son, and Berjaya chairman, Datuk Robin Tan, some time to convince the traditionalist that people needed to know about his philanthropy so that they could emulate him.

And so began this new tradition of giving in the Tan family.

It is my earnest desire, and I am sure that of the average Malaysian, that the tycoons who walk among us ordinary folk will take a page from the elder Tan's book.

That the poor will be with us always is a truism that needs to be addressed.

And for those who quietly perform acts of charity, please continue doing so. Malaysia needs you.

But for those who have not started doing so, you are most welcome to help out. Malaysia needs you even more.

Wither senior citizens to-be?

I, and many other soon-to-be-senior citizens (at least by government definition), are irked by the bureaucratic tangle that has left us out in the cold where benefits for the retired are concerned.

We are the victims of a system that retired us at 55 years when we were at our prime and expects us to get by without jobs (there are the exemptions like me) and the benefits reserved for those who are 60 years or older.

Why this discrimination between retired persons just a few months shy of 60 and those a few months more senior? Do we not suffer from the same aches, pains and financial constraints that our very slightly older brothers and sisters do?

The other day I queued up to pay for an LRT trip into town and was pleasantly surprised when the counter official asked if I was a senior citizen.

I told him I was, having been re-employed after mandatory retirement at an age that the authorities thought was suitable to put me and countless others out to pasture.

He then asked for my identity card and after perusing it said I was a few months short of 60 and thus unable to enjoy the hefty discount served for those who had reached the magic figure.

The same happens when people of my vintage go to cinemas where there is a discount for senior citizens. We end up paying full rate despite the commiserating "sorry uncle" from the person at the counter who is younger than our children.

I am not for a minute decrying the benefits accruing to those who are 60 years and older. Please continue enjoying it. But government and the private sector should spare a thought for those without jobs after 55 for whom every extra ringgit counts.

They can surely use a few ringgit of relief in their daily lives after more than half a lifetime of serving the nation and people

richest people in malaysia 2014

proton any better?

Proton's recent quality control standards have been better than what they used to be but are the cars better than they were a decade ago?

Has Proton changed its ways? In the late 1990s and early 2000s, Proton vehicles were famous for dodgy build quality. Electrical systems that worked only when they felt like it, mechanicals that would wear out quickly and trim panels that fell apart within months of use.

I should know as I honed my driving skills in one – a Proton Wira SE. Within months of buying the car, the rear wiper stopped working, reverse sensors went on leave indefinitely and trim panels in the cabin lost the will to stick together.

The car’s only saving grace was the Mitsubishi sourced mechanicals. It ran pretty well regardless of how much it was abused and the performance of the engine was pretty decent albeit that could have been due to the raspy exhaust note, which amplified the driving enjoyment.

This brings me to my question, has Proton learned from its past and put steps in place to rectify QC issues? Has it realised that the Malaysian people and not its UK customers are its most loyal followers and the reason for its financial health growth?

In the mid 2000s Proton seemed poised to be a worthy Asian competitor with the introduction of the Waja, Gen2, Savvy, Saga BLM, Satria Neo and Persona vehicles. The automaker no longer relied on Mitsubishi to deliver the goods. For the first time in decades, Proton was standing on its own two feet. There were problems along the way as their cars were still plagued by build quality issues (uncooperative power windows) but as a whole, progress was being made.

Then came the Inspira, a mere rebadged Mitsubishi. It felt like déjà vu, just like it did in the 1990s, rebadging the Lancer of that era and calling it the Wira, Proton was back to its old ways. The company did try to justify its actions by stating volume of vehicles in that segment couldn’t justify plans of building a car from scratch. Unfortunately, most Malaysians saw it as Proton wanting easy money.

Then came the Preve and the Suprima S. On paper both cars were a monumental step forward from what Proton were used to offering. Impressive interiors, loads of equipment and a turbocharged engine that had the oomph most Protons lacked with the exception of the Perdana V6. But in reality, the cars have fallen short of expectations. Early adopters have found the CFE engine’s performance, overtime, less than stellar. It isn’t uncommon to see black smoke spewing out of the exhaust tip, a clear indication of the turbo consuming oil.

The Koreans were smart, in order to appeal the global market, they worked tirelessly to offer the best designs, pack each model with as much technology as possible and then find a way to sell their products at cut throat prices. By doing this they managed to undercut the competition while offering more features. Despite the Japanese’s best efforts, their cars have gained significant popularity.

Despite DRB-HICOM’s financial help, Proton will not be able to replicate the Korean success but it can take certain cues from them. Keep customers happy by offering the best product possible. That’s all that is needed. No Malaysian expects a Proton to compete with the Japanese and Germans on a level playing field, but it can do so. Just cut out the lacklustre manufacturing practices and entertaining incompetent vendors. A car built with reliability in mind is what is needed these days. It doesn’t matter if there is no reverse camera, as long as the car starts, goes and stops without issues for several years, it’s a good car!

Quality has improved since the early years but sadly not as much as we would have wanted. With DRB-HICOM’s financial backing Proton can be a worthy global competitor, but the question is do they want to be one?

university experience

In the course of my work in university here in Malaysia, I meet many so-called "Malay" academics. 

Please, let’s not call them “academicians” because it makes them sound that they are just too bloody awesome, as if they have magical intelligence or intellectualism.

Intelligent or intellectual they are not, without doubt.

I come across them frequently – and unfortunately. They're almost all "professors", a title I figure you could purchase from any 7-Eleven store at any time of day

They're pretty darn stupid, most of them.

Not one of them can be categorised as seriously intelligent or an organic intellectual.

The only genuine Malay intellectual in the country and whom I have had the pleasure of meeting is Syed Husin Ali.

His intellectualism and intelligence eclipses Datuk Seri Anwar Ibrahim’s by a country mile. One can easily tell the difference between an intellectual and a populist politician.

Syed Husin Ali speaks and writes in excellent English. So, too, K.S. Jomo, Edmund Terence Gomez and Khoo Boo Teik who, besides being organic intellectuals, also possess a tremendous command of the English language.

Unlike Syed Husin Ali, Jomo, Gomez and Khoo have left Malaysia for greener pastures.

Not much academics are left in Malaysia who have pretty good English language skills. Sadly, their research output is zero, not because they can’t produce the research but because they neither receive incentives to do so nor the recognition they would deserve.

The Melayu academics – the so-called professors – have virtually zero research publications in internationally refereed or peer-reviewed academic journals.

When one listens to them, you'll cringe.

You'd die from shame, not only for their terribly poor grasp of grammar and syntax but also for their sing-song alliteration and/or pronunciations.

They have no idea what they are talking about. They make things up as they go.

They possess little general knowledge about things, much less history of their subject or “specialties”.

No epistemological understanding whatsoever.

They're so out of date that it makes a prophet or disciple of any religion seem to be on the ball with their cant.

Janet Lee is right: these clowns cannot string a sentence together in English, orally or in writing, if their lives depended on it.

Their standard of English is not just appalling, it is downright pathetic and, spectacularly, disgusting.

Indeed, it is no better than any of the high school graduates who attend universities abroad and manifestly struggle to write critically, think critically, who possess closed minds, are brilliant at crapping, cutting-and-pasting and, of course their standard fare, plagiarism.

If you want to know why Malaysia's universities consistently languish in a Third World squat lavatory, it is precisely because you have morons like these teaching at universities whose paper qualifications are suspect – as suspect as those high school graduates who fly with multiple straight As (whose results are always massaged, so to speak).

What makes the situation worse is that Malaysia’s universities employ racist morons, most of whom – in fact, all of whom – are Umno backers.

After all, like Malaysia’s judiciary, they are Umno employees.

I commiserate with Janet Lee and her husband. Logic and common sense are not virtues in this country. They are not exactly the cornerstones of intelligent thinking in this country. They are certainly not valued.

A complete, uneducated idiot could become a politician and run the country, there are scores of examples of this throughout this country's history.

Indeed, one can see – if one wants to see – the same in the abysmal standard of education of Malaysian schools, and of their principals and their teachers as much as universities, their vice-chancellors, their deans, their "academics" and, sadly but unsurprisingly, their graduates.

Malaysia is not the place for us, where you more often than not are treated worse than dirt, like dung, just because (a) you are not Malay (b) not of the right skin colour (c) do not have a Muslim name (and Arab-sounding name, like Osama bin Laden, would be infinitely accepted) (d) not of the right agama

economic rice

A blogger has revealed what goes on at mixed vegetables rice stalls when it comes to the preparation of food, and why we should be wary of what we eat.

Also known as economic rice, 'zhup cai bng' or 'chap fan' stalls, they are commonly found at hawker centres, food courts and coffee shops in Singapore.

The blogger's information comes from his 72-year-old mother, who has been working at a chain mixed vegetables rice for some time.

He wrote on his blog at gintai.wordpress.com:

"Basically, a typical vegetable stall in a HDB coffee shop is manned by 3 persons. The main player will be the cook who is the in-charge of the food stall. He is assisted by one staff in the morning and another in the afternoon until it closes for the day.

"Understandably, the in-charge works extra hard with the longest hours operating from about 8am till 9pm catering to the lunch and dinner customers. On top of their basic pay, they are also given incentive payment if collection exceeds the target.

"There are CCTV cameras all over the stall to monitor them. The boss hardly comes over except to collect the day's takings. The cash register captures all transactions.

"The in-charge of the stall is usually a Foreign Talent (FT) from neighbouring countries and recently, many are PRCs. Few locals could undertake such a demanding job churning out simple meals at dirt cheap prices.

"Due to time constraint with only one assistant, the in-charge who does the cooking of more than 20 dishes has got to be fast and energetic. As such, he is forced to take short cuts and cut corners. This is what is happening in the food preparation.

"For example, the vegetables are never washed at all. One method is to boil a big pot of water and dump the unwashed vegetable to half-cook it. Thereafter, it's then stir fried to taste.

"I do not worry about dirt and slime on the stalks and leaves of the vegetables. I am more perturbed by the tons of insecticide residue on them.

"Just look at the beautiful green leaves where even worms would not feast. Surely it must be the insecticide that is keeping away the worms chewing on it. If it is not thoroughly washed and eaten by unsuspecting consumers, what would happen?

"Wonder no more why city folks like us are getting all kinds of illnesses especially colon cancer. Think of what I just sketched for your imagination. It is no joke and witnessed by my mum working there.

"As such, she always advises us not to consume green vegetables in a cooked stall except the bean sprouts where they got no choice but to wash them to clear the uneatable husks of the green sprouts (tuagai)."

The blogger then shared his experience at an eatery in Ipoh, where he noticed that the leaves of vegetables looked unappealing and were punctured with holes.

He had made a comment comparing those vegetables to that of those in Singapore, but was told that this was because 'tons of insecticide' had been sprayed on the vegetables here which even worms avoid.

"I was told that no matter how much you wash your insecticide-laced greens, the chemicals will never go away completely. In the case of the typical food stall quoted above, it's far worse than that."

The blogger raised an alternative to cook your own vegetables at home, which he felt might not be always possible due to our long hours of work. Another option is to consume organic vegetables instead, which is far more expensive and yet healthier.

He continued in his blog entry:

"I have elaborated on the no-washing of the vegetable in a typical food stall. What about the manner of preparation for other food such as chicken wings, meat, fish etc. Yup, they simply throw into the hot boiling oil in the wok and deep fry them.

"Rice is never washed at all before it's put in the rice cooker to steam.

"Another observation made by my mum is that all those ingredients and condiments such as salt, oil, sugar, black or light soy sauce kept in small containers meant for cooking are all left overnight without any lids to secure them.

"Lizards, rats, cockroaches having a big party throughout the night and then they are used in the cooking the next day for our own consumption. Frightening? Flabbergasted?"

With the knowledge of how food is prepared at these stalls, the blogger explains that this is why his mother brings her own food to work even though free meals are provided. He also raised an interesting observation:

"From my observation, only those Malay stalls seem more hygienic than the Chinese or Indian food stalls. I have yet to come across Malay stalls out-sourced to FTs. The Malay stalls are usually run by locals.

"That is why Malay food usually costs more than Chinese food. I would rather pay more for Malay cooked food than those Chinese cooked food which is comparatively cheaper.

"Just be more observant and look out for yourself the next time you consume your food in a hawker centre or coffee shop. Watch what you eat."

27 February 2014(iii)

this is another funny post i saw

winterpeg

Shane Gibson/Metro WinnipegEnvironment Canada confirmed Wednesday this winter has been the coldest Winnipeg has seen since 1978/79 and is the third coldest we’ve seen in over 100 years.

If you’re under 35 and are sure this is the wickedest Winnipeg winter you’ve ever seen, Environment Canada confirmed Wednesday you’re right—we haven’t seen a colder one since installing shag carpeting wasn’t ironic.

The national weather service considers the winter months to be December, January, and February (really?) and they report the mean temperature (it certainly isn’t a nice temperature) over those three months in Winnipeg has been -20.1 C, the coldest recorded since 1978/79 and the third coldest winter we’ve seen in more than 100 years.

“There was a number of very cold winters back in the 1870s and 1880s… but once we got into the 20th century there were very few,” Environment Canada meteorologist Dale Marciski told Metro. “So in a historical context (this winter) has been pretty significant.”

Matters are made worse by the sheer number of ridiculously cold days we’ve had; we’ve seen 72 days where the wind-chill has been -30 or below (compared to our average of just 40) and 29 days where the wind-chill has made it feel like -40 or below (we average just 12 of those stinkers normally).

And, of course, it’s hard to forget Jan. 5 when the wind-chill made it feel like -51.

“The weather pattern this year is very persistent,” said Marciski, explaining a combination of artic air blowing in from the north and the dreaded Polar Vortex phenomena are to blame. “It’s just been continuous and there’s been very few breaks.”

Despite Environment Canada’s forecast for much of the same cold weather over the next week, Marciski did have some good news for Winnipeggers.

“Winter will eventually have to move on,” he said. “It always does.”

**********************************

come on, we survive -52 with wind chill.. and they always say winnipeggers still stand strong.. and that's what winnipeggers are all about

we stand strong despite the coldness and of course not to forget it's summer national bird.. the mosquitoes..

and i'm proud that i stiff through winnipeg for 5 years

^^

From the star

Property deals drop, value of transactions rise, prices may rise

BY THEAN LEE CHENG AND CHERYL POO

Valuation and Property Services Department deputy director general, Faizan Abdul Rahman, says the residential sub-sector, which accounts for about 64% of the total property transactions, saw a 14% drop from a year earlier, with average house prices exceeding RM300,000.

   

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KUALA LUMPUR: Property transactions dropped in the first nine months of last year, said the Valuation and Property Services Department, confirming observations by real estate professionals that the market is slowing down.

Although the number of transactions was lower, there was an upward trajectory in value, an indication of rising prices.

The department’s deputy director-general Faizan Abdul Rahman said the residential sub-sector, which accounted for about 64% of the total property transactions, saw a 14% drop from a year earlier, with average house prices exceeding RM300,000.

Faizan was speaking at the 7th Malaysian Property Summit 2014 organised by theAssociation of Valuers, Property Managers, Estate Agents and Property Consultantsyesterday.

Faizan said the commercial sub-sector saw a drop of 22.3%, compared with the previous year.

The industrial, agricultural and development sub-sectors saw reductions of about 20%, 13.6% and 8.3%, respectively.

The total number of transactions for the first nine months fell to 280,820 valued at almost RM106bil, compared with 328,692 in 2012 worth RM107bil.

Transactions in 2010 surpassed the RM100bil mark as a result of an extremely buoyant market, which started in 2009. It has been on an upward trajectory since then.

On the effect of the various tightening measures, organising chairman Choy Yue Kwong said they would curb excessive speculation.

Choy, who is Rahim and Co (Selangor) Sdn Bhd managing director, said the measures would discourage speculators from using bank loans to finance their purchases.

“The curbs are slowly taking effect. The measures will have a significant impact on speculation, especially speculators who depend on bank loans,” he said.

Choy added that the real property gains tax (RPGT), however, will have little effect on curbing speculative activities in the market.

He said the RPGT should have been introduced earlier when house prices were lowerand prices had appreciated faster, resulting in higher profit margins.

Prices had skyrocketed now, squeezing profit margins and rendering the RPGT less effective, he added.

CH Williams Talhar & Wong Sdn Bhd managing director Foo Gee Jen, meanwhile, said there was a mismatch between the demand for real estate and supply.

“There is an oversupply of high-end residential property in the market. Prices have gone up too much over the last few years. What people really need is affordably priced lower-to-mid-range housing,” said Foo.

“Developers will be pressured to cater to this market segment that is most in need. Having said that, the bright side is that the market is expected to stabilise with more realistic prices over the year.”