Malaysian households under-insured

Report from The New Straits Times (Malaysia) dated 28 February 2014 :-

Malaysian households under-insured



KUALA LUMPUR - Many Malaysian households are underinsured which will result in a family not being able to sustain its current lifestyle upon the death of the breadwinner, a Life Insurance Association of Malaysia (LIAM) study revealed.

Its president Vincent Kwo said the "2012/2013 Protection Gap Study", commissioned by LIAM, examined the potential mortality gap (under insurance) among Malaysian families in 2012 whose main wage earners were either covered by life and medical insurance, or uninsured under either policy.

The mortality protection gap suggests the difference between what people will get from life insurance coverage and the coverage they need after the death of the breadwinner.

The findings of study revealed that the average protection gap for families whose primary wage earner have both life and medical insurance was RM553,000 ($213000) per family which means when the sole breadwinner of the family dies, they would need about RM553,000, to last for at least five years to sustain their current lifestyle and continue with their daily consumption.

The study also revealed that families whose breadwinners was covered by life policy only had a slightly higher gap, at RM642,000 per family.

Meanwhile, the average protection gap for a family whose breadwinner is not covered by either life or medical insurance was largest, at about RM723,000 per family.

The average mortality gap for each member of a family was between RM100,000 to RM150,000, which was the average amount a person needs to sustain his spending or lifestyle for the next five years upon the death of the breadwinner.

Kwo said the study was based on the assumption that each household in Malaysia consists of five members (the parents and three children.

 It was also done on the basis that the income of the household was generated by one primary breadwinner).

He said an assumption was also made that the income of the household was generated by one primary breadwinner, adding that the true extent of the protection gap might be smaller if the spouse of the primary breadwinner was also employed.

Kwo noted that it was crucial to note the degree of under-insurance as the sudden loss of a main wage earner carries potentially damaging 'domino effect' with dire financial consequences.

"It may result in the inability to pay off the mortgage, debts or children's education," he said, adding that the size of the protection gap was often a true reflection of the potential demand for life insurance coverage.

The findings also showed that families whose primary wage earner was not covered by either life insurance or medical insurance have the largest protection gap, hence buying life insurance would solve the problem.

The study also revealed that the insurance purchase among individuals below the age of 25 was not encouraging, although the premium rates for the age group was relatively favourable.

Kwo said proactive measures should be taken by the insurers and the policymakers to increase insurance awareness and to encourage insurance purchase among the Malaysian population to reduce protection gap.

"The results of this study are expected to spur the insurance industry to move forward in achieving the targeted penetration rate of 75 per cent by 2020 under the Economic Transformation Plan," he said at the launch of the study in a hotel here, yesterday.

Present were key industry players and stakeholders including LIAM Industry Promotion Committee chairman Jens Reisch, senior officials from Bank Negara Malaysia, senior insurance representatives and Universiti Kebangsaan Malaysia research team.

The objectives of the study was to investigate the extent of the life insurance protection gap in Malaysia and highlight and quantify the magnitude of the mortality gap protection, or under-insurance, among the Malaysian working population in 2012.

 

Americans would give up TV before Internet: survey

Report from AFP dated 27 February 2014 :-

Americans would give up TV before Internet: survey


Americans have become so enamoured of the Internet, they would more readily forgo television than online access, a survey showed on Thursday

WASHINGTON (AFP) - Americans have become so enamoured of the Internet, they would more readily forgo television than online access, a survey showed on Thursday.
The Pew Research Center survey released ahead of the 25th anniversary of the World Wide Web found 53 per cent of US Internet users would find it "very hard" to give up Web access, up from 38 per cent in 2006.

Even when counting those who don't go online, Pew said 46 per cent of all adults would find it hard to give up the Internet.

By contrast, Pew's survey showed 35 per cent of all US adults television would be very hard to give up, compared with 44 per cent in 2006.

1Utama among biggest malls in the world

February 27, 2014

Mid Valley and Sunway Pyramid also make it to list of top 10 biggest shopping destinations in the world.

By: Caitlyn Ng

You would know the sales season is fast approaching when you suddenly notice hoards of shoppers diligently going through each rack and shelf of each shop in any shopping mall. With so many located in Malaysia, tourists love flocking to our beloved country not only for the food and the culture, but also for the chance to shop till one drops! These malls aren’t just your ordinary small lots that sell grocery items and hold one or two eateries, nope. These are mega structures, stretching for thousands of square metres, and containing everything that anyone could possibly ever need, and more.

Did you know though, that in the list of the top 10, three of the malls are in Malaysia? Indeed, this SaveMoney.my writer is proud that one of them is literally on her doorstep; which one it is though, is only for her to know!

5) Persian Gulf Complex (RM2.7 billion, 450,000 square metres)


Also known as the “Fars Shopping Complex”, the Persian Gulf Complex is located on a piece of land about 500,000 square metres in the vicinity of Shiraz, Iran and was developed by the Royal Star International. This company is also in charge of the development of a string of other shopping malls such as the Yazd Star, Qeshm Star and South Star Emporium. The construction of the Persian Gulf Complex was started in 2006 and completed 5 years later in 2011 and has a gross leasable area about 450,000 square metres space for 2,500 commercial units and a huge hypermarket that’s 12,000 square metres.

Other facilities that are provided within this mixed-facilities mall include outdoor and indoor amusement parks, the international hotel Burj-e Farswith with helipad, a convention centre and six cinema theatres. Costing approximately RM2.7 billion, this mall starts the list off. Rounding up this list would be the Central World (Thailand) in 6th place, the Isfahan City Centre (Iran) in 7th place, the Mid Valley Megamall (Malaysia) in 8th place, the Sunway Pyramid (Malaysia) in 9th place and finally, the SM Megamall (Philippines) in 10th place!

4) One Utama, Malaysia (RM249 million, 465,000 square metres)


Malaysia has made the list (didn’t I say we had?) and this is the highest spot that it has climbed to! The mall to grab this spot is none other than One Utama, the mall which has a tagline of “It’s All In One”. Indeed, one can expect to find everything they need and more in just one area (admittedly, that area is made up of 465,000 square metres of leasable space and the length of walking from one end to the other is almost 1 km). Asia’s largest indoor rock climbing facility and the Secret Garden, which is South East Asia’s largest rooftop garden, are both examples of what one might find here apart from the over 650 retail shops.

Opened in 1995, One Utama consists of two wings, dubbed “the old wing” and “the new wing”. The old wing had a cost of RM89 million, excluding the land cost and the developers pumped in an additional RM160 million to build up the new wing as well as expand the old wing to increase its rentable area.

3) SM City North EDSA, Philippines (RM150 million, 482,878 square metres)


Located in Metro Manila, the word “EDSA” in this mall’s name stands for “Epifanio de los Santos Avenue” which is an important arterial road and freeway in the Philippines. The SM City North Mall is located to the north side of the highway and has a total leasable space of 482,878 square metres; built on formerly swampy land, it was opened in 1985, with a few expansions and renovation.
It cost the developers approximately RM150 million to redevelop the mall into a greener complex with an overall trendy look to match today’s modern standards, although there isn’t a given total amount as to how much the mall initially cost back in 1985.

2) Golden Resources Mall, China (RM4.2 billion, 557,419 square metres)


Now here’s a shopping mall that doesn’t seem to be able to live up to its name! The Golden Resources Mall is also known as “The Great Mall of China” and was opened in 2004. For a short time, it held the record as the largest in the world with 557,419 square metres of leasable space and a cost of approximately RM4.2 billion. It is located in an area that is far from the usual enclave of foreign customers, due to it being outside the heart of Beijing.

With most of the stores located inside this mall not accepting foreign credit cards and also containing prestigious brands that are quite beyond the purchasing ability of the locals, it has led to the mall suffering low foot traffic.

1) New South China Mall, China (RM1.3 billion, 659,612 square metres)


New this mall certainly is, but profitable? Apparently not so much. Sitting on a total land area of 892,000 square metres with a total leasable space of 659,612 square metres, this mall tops the list as the largest in the world. However, with a bad location that is largely unreachable to the public due to it only being accessible via cars or buses, it doomed this mall to having most of its stores vacant (although that condition is slowly improving).

With space for 2,350 stores, and 7 zones modelled on international cities, nations and regions (Amsterdam, Paris, Rome, Venice, Egypt, the Caribbean and California), it is by far also the most opulent with its scaled-down models such as the Arc de Triomphe of Paris and St. Mark’s Bell Tower of Venice. It is approximately RM1.3 billion in cost.

To top things off, here’s a list of the top 10 largest malls in the world:

Shopping Mall	Country	Size (Square metres)
1) New South China Mall	China	659,612
2) Golden Resources Mall	China	557,419
3) SM City North EDSA	Philippines	482,878
4) One Utama	Malaysia	465,000
5) Persian Gulf Complex	Iran	450,000
6) Central World	Thailand	429,500
7) Isfahan City Centre	Iran	425,000
8) Mid Valley Megamall	Malaysia	420,000
9) Sunway Pyramid	Malaysia	396,000
10) SM Megamall	Philippines	392,980

Caitlyn Ng is an Investigative Journalist of SaveMoney.my, an online consumer advice portal which aims to help Malaysians save money through smart (and most of the time painless) savings in their daily banking, technology, and lifestyle spending habits.

Asia's Power Businesswomen, 2014

Report from Forbes Asia dated 26 February 2014 :-

Asia's Power Businesswomen, 2014



The 2014 FORBES ASIA Power Businesswomen list, our third, honors a cast of 50 women from industries that range from toolmaking to venture capitalism, from construction to lingerie.

Among the newcomers: Alison Watkins, who rises to the top of Coca-Cola Amatil Coca-Cola Amatil as we go to press, becoming only the second woman to head up a top 30 listed Australian company; Ong Chih Ching, a Singapore-based property entrepreneur with a taste for fast cars and yachts; and veteran movie producer Nansun Shi, who in a career spanning almost four decades has helped mold Hong Kong’s film industry.

As we research and compile the list, we make some tough choices using the following criteria: company revenue (rarely less than $100 million, frequently in the billions), the woman’s position at the company (if she’s the boss that’s a big plus) and how involved she is (preferably running operations day-to-day).

Chew Gek Khim of Singapore meets all these criteria and then some as she transforms Straits Trading, a staid colonial-era tin smelter, into a sleek 21st-century holding company.

We also favor entrepreneurs, like Noriko Nakamura of Poppins in Japan and Australian retail queen Naomi Milgrom, who have nurtured their own businesses.

Chew Gek Khim

It’s no easy feat finding and gauging women across such a great geographic span (this year’s gathering comes from no fewer than 13 countries), not to mention the vast range of industries, economies and cultures.

A company in Vietnam with $100 million in annual sales might be a standout on the local stock exchange but would register barely a blip in a more developed market.

Countries such as Indonesia tend to throw up family-run conglomerates rather than listed companies, where information is easier to come by.

And then there is culture: In Greater China women seem to advance more smoothly than in many other countries in the region, where tradition remains a barrier.

A survey by Grant Thornton International Business Report notes a sharp rise in senior management positions held by women in mainland China to 51% (as of February 2013) from 25% a year earlier.

Compare that with 7% in Japan, rock bottom of the heap of 44 economies studied; 22% in Australia; and 34% in Asean overall. The global average is 24%.

From a daring bright spark creating an online social media venture in Myanmar to a longtime executive just named the first woman to run an Indian oil major, these women are a small selection of those driving change.

Research: Shu-Ching Jean Chen, Susan Cunningham, FORBES INDONESIA, Don Frazier, Ron Gluckman, Jane Ho, Joyce Huang, Seline Jung, Naazneen Karmali, Sunshine Lichauco de Leon, Noelle Lim, Lan Anh Nguyen, Anuradha Raghunathan, Lucinda Schmidt, Jennifer Schultz Wells, James Simms, Blessing Waung.

Two Thai women on Forbes top list

Report from The Nation (Thailand) dated 27 February 2014 :-

Two Thai women on Forbes top list  -  Two more Thai women on top Watch list

Two Thais, Chadatip Chutrakul and Somporn Juangroongruangkit, were named on the 2014 Forbes Asia Power Businesswomen list, and another two Thai women included in the 12 To Watch list.


Mrs Somporn (left) and Mrs Chadathip are the two Thais on the Forbes Power Businesswomen list.

The US business magazine released the lists on Wednesday (US time).

The main list includes, but does not rank, 50 women from 13 countries.

The other list picked 12 with "the juice, vision, creativity, knowledge and connections" for inclusion in the main list in future.

Forbes said the selection criteria were company revenue (mostly in the billions of dollars), position (if she’s the boss that’s a big plus) and how involved she is (preferably running operations day-to-day).

Entrepreneurs were also favoured.

Mrs Chadathip, CEO of Siam Piwat and Siam Paragon Development, was credited for much of the success of Siam Discovery, Siam Paragon and Paradise Park, major Bangkok shopping malls.

Somporn Juangroongruangkit, president of Thai Summit Group, was hailed for her role in expanding and diversifying the auto-parts business. She and her family are also No.25 on Forbes' Thailand’s richest list.

The rising stars likely to be included in the main list in the future included Roongchat Boonyarat, director and executive vice-president for sales and marketing of Malee Sampran Thailand, and Tipa Nawawattanasub, CEO of YLG Bullion & Futures Thailand, who are on the Watch list.

Ms Tipa of YLG Bullion (left) and Ms Roongchat of Malee Sampran may join the list soon.
 

Ms Roongchat, daughter of the Malee Sampran chairman, took up her post in August 2011 as part of a move to bring in the next generation and modernise the canned fruit and drinks company.

Ms Tipa was groomed as successor to her parents, who founded and run YLG Bullion International, Thailand’s biggest gold trader (YLG Bullion & Futures is a brokerage unit).

Her brother heads up the Singapore office of YLG, which is considering listing in Thailand in the next three years.

 

Booking sites for budget hotels

February 27, 2014

If you're one of those who really want to experience being more than a traveller and stay in places that not only get you into the culture of the place; a regular, run-of-the-mill hotel may not be the best place to stay.

 

By: Michelle Brohier

A few days ago, we reviewed regular hotel booking sites but what if the regular hotel isn’t what you’re looking for?

Many of us like to travel but staying at a hotel can not only be expensive, it’s also a limiting way of really experiencing the place that you’re traveling in.

If you’re one of those who really want to experience being more than a traveller and stay in places that not only get you into the culture of the place; a regular, run-of-the-mill hotel may not be the best place to stay.

How about trying one of these instead?

Rent a place
Instead of staying at a hotel, you can actually opt to stay at actual apartments or rooms that are being rented out to travellers by locals.

Some of the options may be expensive, but all sites dedicated to this know that you’re looking for one within your budget and some of the choices can be a lot cheaper than a hotel.

 Plus point, as these are most likely homes or apartments – you’re living where other locals live and you’ll get a first-hand look at how they live.



Airbnb
Airbnb is one of the most popular rental stays available on the internet with its wide network and affordable rental rates.

You can find tips on how to use the website for both traveling and hosting on the front page.

 The site can also breakdown the cities and districts you want to stay through neighbourhoods.

 They even give characteristics and attractions to the neighbourhoods so you can see if staying there would appeal to you, and then you can find places to stay in that neighbourhood.

All prices can be set in the currency of your choice and you can set a minimum or maximum price.

You can even select whether you want to rent an entire place, a private room or share a room with another traveller.

Other ways of sorting your selections include amenities, property type, host language, and maybe keywords such as beach, romantic, transit, etc.

Upon clicking on your selection, you can read up on the full description of the place you chose, the amenities and house rules involved. How many bedrooms, bathrooms, minimum stay, cleaning fee, etc. are all also listed.

You can find out more about the host and contact them directly. Reviews of the place can be found at the very bottom of the page.

Booking through Airbnb can be relatively simple online, but it is known for having some rather bad service when it comes to the payment and actual locations.

As Airbnb is unable to check on all the rooms, apartment or houses being rented out, there are cases of bad hosts or owners with bad house upkeep or are never around.

Airbnb also holds on to the service fees even if the transaction between you and the host fails to go through and if you do not make a timely report on your complaints, you may never get your refund.

Summary
Pros: Easy to use, prices can be reasonable, able to learn more about different neighbourhoods, detailed lodging.
Cons: Refunds are a pain to get, no promise of good quality from the hosts, reviews may be biased.



Travelmob
Travelmob is known to be Asia’s answer to Airbnb as it also offers travellers a stay at rented areas.

The site offers travel tips for both the host and the guests to consider which includes advice on insurance as well as cleaning fees. All prices mentioned can be changed due to currency exchange.

Upon selecting your location, you’ll get a list of places which has its own tags at the bottom.

If you want to look for a specific tag, you can check out the “I’m interested in” box available on the left where you can choose something like nightlife, romantic or scenic.

You can specify your type of lodging, your price range and/or the kind of amenities you want. You can see the choices available either as a list, with photos or on the map.

When you’ve selected a place, the layout is similar to that of Airbnb but you can also easily access the calendar of that place to see if the date you wish to book is available or not.

There are also amenities, house rules and other details available.

As Travelmob is generally new there aren’t many reviews on the site or feedback for you to read through.

So far the few reviews available have been positive with booking being simple and easy with most of the hidden costs are manageable.

Summary
Pros: Simple to use, more options on your selection available, quick access to the calendar to make a booking.
Cons: Not enough reviews on the site, hidden costs that aren’t visible even to those hosting.
Here are some simple tips to remember when booking from sites like Airbnb and Travelmob.

Always contact the host before making your booking to get a good feel of your host’s response time and how they answer your queries.

Never book unless you know your host is ready to accept your payment. A delay may mean you risk losing money in terms of service fee if the transaction isn’t done in a timely manner.

There will always be extra charges and hidden fees involved so be sure to keep that in mind before placing your booking.

Cancellation fee rules vary, so be sure to read up and inform yourself on how to cancel should such an occasion arise.

If booking goes well and you got a great host, it’s good to give them a little gift of gratitude either in terms of buying them dinner or getting them a souvenir from your home country.

Stay in a hostel
If living in a rented property feels a bit too risky for you and you want to stay in a place with proper reception and is cheap, then you’re looking for a hostel.

It’s a simple place to stay and you get to meet other travellers too! There are a number of hostel sites available online so we review two of them below.

Hostels
You can find guides of different cities as well as a listing of great value hostels and popular hostel destinations available on the first page.

You can choose the currency of your choice on the top of the page, and if you want to book as a big group, the option is also available.

From the city you’ve chosen, you can narrow down your choices via availability from the date you’ve chosen, the price, ratings from other reviewers, distance and even property type.

There are more ways to narrow down your choices on the left. Prices shown can include both dorms and private rooms.

The site then displays the room types, prices as well as the overall ratings from other reviewers.

You can also check out facilities and policies, map and directions of the hostel, and they will state how much the down payment and deposit would be upon selecting a room.

They will also state if they prefer to receive their money in cash and in the currency of their choice.

While Hostels claim there are no booking fees, there is a service fee involved.

But other than that, as most hostels preferably receive payment upfront when you arrive, there is little else to worry about other than that.

Summary
Pros: Useful, simple site to use.
Cons: Not enough reviews, doesn’t list some of the better hostels available, charges a small service fee.



Hostelbookers
It’s been recommended by backpackers as one of the better sites to go to due to their wider selections of hostels, but there was an issue of prices being available in selected currencies.

That’s still quite a number of currencies available, but as an example we could not see the prices in Ringgit on Hostelbookers, which means you don’t know exactly how much you’re paying when you factor conversion. However, at the end of the day conversion may depend on your money exchange or credit card company depending on how you’re paying so this isn’t a big detraction.

Hostelbookers list has featured properties on the top of its list when you select a city to go to. You can filter your choices via price range, rating, room type, property type and even district. Shared and private prices are also available, and you can even get a map view of the available hostels listed.

The list of rooms available can be more detailed such as if it’s by gender or mixed, and states if breakfast is included.

When you click on “View room details” you not only get the room type, facilities and such, pictures of how the room will look is also available.

 There may be pop-ups on the side stating the recent booking in the hostel, and you can find out more facilities and what’s included on the left as well as reviews.

Booking is simple with a mention of the down-payment and deposit that you need. Hostelbookers is also known to be the cheapest as it does not charge any other service or booking fees.

Summary
Pros: No extra service fees, very detailed information on hostels available, map viewing.
Cons: Prices not available in all currencies, the list and information can seem a bit too cluttered.



Do some CouchSurfing
If you’re feeling a little more adventurous and are up to the challenge, do check out Couchsurfing, where you can stay in a stranger’s house for free and some hosts are happy to take you around. Of course, it’s always best to get to know your possible host and check out the recommendation and references available as there are risks when you entrust your safety to someone you’re unfamiliar with. While it’s a great adventure and it will save you a lot of money in a way, be sure to read Couchsurfing’s safety tips and take precaution when taking this route. It’s also a nice gesture to ‘reward’ your host by buying a meal or a gift as you are staying in their house for free.
Whatever your choices are, be sure to do your research and take the necessary precautions when making a booking through these sites. However you choose to spend your holiday and where you stay, be sure to make it worth your money, time and most importantly, your experience!

This was brought you by Michelle Brohier from RinggitPlus.com. RinggitPlus compares credit cards, personal loans and home loans to help Malaysians get more for their money.

LinkedIn jumpstarts China expansion with Chinese language site

LinkedIn jumpstarts China expansion with Chinese language site



Reuters

Tuesday, Feb 25, 2014

 

SAN FRANCISCO - Professional social networking website LinkedIn Corp launched a Chinese language version of its website on Monday, a move that could jumpstart its expansion into the world's largest Internet market by users even as the company acknowledged it will have to police what some of them say on its website.

LinkedIn Chief Executive Jeff Weiner acknowledged in a blog post on Monday that the company would have to censor some of the content that users post on its website in order to comply with Chinese rules.

But Wiener said that the benefits of providing its online service to people in China outweighed those concerns.

He vowed that the company would be "transparent" about its practices as it builds up its presence in a country it said is home to one in five of the "knowledge workers" that are LinkedIn's core audience.

"Extending our service in China raises difficult questions, but it is clear to us that the decision to proceed is the right one," Wiener said.

China is a difficult country for foreign Internet companies to operate in.

Beijing censors sensitive terms from the Internet and blocks social networks Facebook Inc and Twitter Inc, a widespread effort that analysts say is geared towards maintaining the Communist Party's hold on power and preserving social stability.

Google Inc, the world's No.1 Internet search engine, relocated its Chinese language search service to Hong Kong from mainland China in 2006 following a dispute with the Chinese government over censorship and cyber-attacks that Google said originated in China.

Weiner said that China's restrictions on content would be implemented "only when and to the extent required."

LinkedIn already has more than 4 million users in China who use its English language website, but the company has signaled that it was interested in making a broader expansion into China.

Li Ka-shing on how you can buy a car and house in 5 years

Li Ka-shing on how you can buy a car and house in 5 years

AsiaOne

Wednesday, Feb 19, 2014
 

Having trouble envisioning yourself with your own home and a car in the near future? The richest man in Asia, Li Ka-shing, has some tips for you.

In an article posted on CEO Connectz, Li Ka-shing, who is worth US$31 billion, talks about how one can afford to  live comfortably with a house and a car even if their monthly pay is below $500 a month.

Lee suggests that wage-earners put their monthly salary proportionately into five sets of funds with different purposes.

After setting aside for daily necessities and social activities, one should spend on books for learning, travel and invest with the rest of the money, he says.

The Hong Kong business magnate, who was also a school dropout, also gives tips on how to spend the money in each of the funds set aside.

For example, one should treat only those who are richer than them or more knowledgeable than them to meals.

This way, your social circle will expand, making room for yourself to grow.

At the end of one year, a person's wealth should grow.

If your income does not increase, then you have been doing it wrong and are failing to learn anything, Lee adds.

The trick to earning more is to learn more and investing in people and things that are worth your time, he says in the article.

"When you are poor, spend money on others. When you're rich, spend money on yourself," he added.

Here is a translation of the article 'Li Ka-shing teaches you how to buy a car and house within five years': Suppose your monthly income is only RMB 2,000 (S$415.60), you can live well.

I can help you put money into five sets of funds.

The first with RMB 600, second RMB 400, third RMB 300, fourth RMB 200, fifth RMB 500.

The first set of funds is used for living expenses.

It's a simple way of living and you can only be assigned to less than twenty dollars a day.

 A daily breakfast of vermicelli, an egg and a cup of milk.

For lunch just have a simple set lunch, a snack and a fruit. For dinner go to your kitchen and cook your own meals that consist of two vegetables dishes and a glass of milk before bedtime.

For one month the food cost is probably $500-$600.

When you are young, the body will not have too many problems for a few years with this way of living.

Second set of funds: To make friends, expand your interpersonal circle.

This will make you well off.

Your phone bills can be budgeted at RMB 100.

You can buy your friends 2 lunches a month, each at $150.

Who should you buy lunch for?

Always remember to buy lunch for people who are more knowledgeable than you, richer than you or people who have helped you in your career.

Make sure you do that every month. After one year, your circle of friends should have generated tremendous value for you.

Your reputation, influence, added value will be clearly recognised.

You'll also enhance your image of being good and generous.

Third set of funds: To learn. Monthly spend about RMB 50 to RMB 100 to buy books.

Because you don't have a lot of money, you should pay attention to learning.

When you buy the books, read them carefully and learn the lessons and strategies that is being taught in the book.

Each book, after reading them, put them into your own language to tell the stories.

Sharing with others can improve your credibility and enhance the affinity.

Also save up $200 per month to attend a training course. When you have higher income or additional savings, try to participate in more advanced training.

When you participate in good training, not only do you learn good knowledge, you also get to meet like-minded friends who are not easy to come by.

Fourth set of funds: Use it for holidays overseas.

 Reward yourself by traveling at least once a year.

Continue to grow from the experience of life. Stay in youth hostels to save cost.

In a few years you would have travelled to many countries and have different experiences.

Use that experience to recharge yourself so that you'll continually have passion in your work.

Fifth set of funds: Invest. Save the $500 in your bank and grow it as your initial startup capital.

The capital can then be used to do a small business.

Small business is safe. Go to wholesalers and look for products to sell.

Even if you lose money, you will not lose too much money.

 However, when you start earning money, it will boost your confidence and courage and have a whole new learning experience of running a small business.

Earn more and you can then begin to buy long-term investment plans and get long-term security on your financial wealth being of yourself and your families.

So that no matter what happens, there will be adequate funds and the quality of life will not decline.

Well, after struggling for a year and if your second year salary is still RMB 2,000, then that means you have not grown as a person.

You should be really ashamed of yourself.

Do yourself a favour and go to the supermarket and buy the hardest tofu.

Take it and smash it on your head because you deserve that.

If your monthly income is at RMB 3,000, you must still work very hard.

You must try to find a part time job.

It will be great to find part time sales jobs.

Doing sales is challenging, but it is the fastest way for you to acquire the art of selling and this is a very deep skill that you will be able to carry it for the rest of your career.

All successful entrepreneurs are good sales people.

They have the ability to sell their dream and visions.

You'll also meet many people that will be of value to you in the later part of your career.

Once you're in sales, you will also learn what sells and what not.

Use the sensitivity of detecting market sentiments as a platform for running your business and in the identification of product winners in the future.

Try to buy minimal clothes and shoes.

You can buy them all you want when you're rich.

Save your money and buy some gift for your loved ones and tell them your plans and your financial goals.

Tell them why you are so thrifty.

Tell them your efforts, direction and your dreams.

Businessmen everywhere need help. Offer yourself to do part time for any kind of opportunities.

This will help to hone your will and improve your skills.

You will start to develop eloquence and soon, you'll be closer to your financial goals.

By the second year, your income should be increased to at least RMB 5,000.

Minimum it should be RMB 3,000, otherwise you would not be able to keep up with inflation.

No matter how much you earn, always remember to divide it into five parts proportionately.

Always make yourself useful.

Increase your investment in networking.

When you increase your social investment, expand your network of contacts, your income also grows proportionately.

Increase your investment in learning, strengthen your self confidence, increase investment in holidays, expand your horizons and increase investment in the future, and that will ultimately increase your income.

Maintain this balance and gradually you will begin to have a lot of surplus.

This is a virtuous circle of life plans.

Your body will start to get better and better as you get more nutrition and care.

Friends will be aplenty and you will start to make more valuable connections at the same time.

You will then have the conditions to participate in very high-end training and eventually you'll be exposed to bigger projects, bigger opportunities.

Soon, you will be able to gradually realise your various dreams, the need to buy your own house, car, and to prepare an adequate education fund for your child's future.

Life can be designed. Career can be planned. Happiness can be prepared. You should start planning now.

When you are poor, spend less time at home and more time outside.

When you are rich, stay at home more and less outside.

This is the art of living.

When you are poor, spend money on others.

When you're rich, spend money on yourself.

Many people are doing the opposite.

When you are poor, be good to others. Don't be calculative.

When you are rich, you must learn to let others be good to you.

You have to learn to be good to yourself better.

When you are poor, you have to throw yourself out in the open and let people make good use of you.

When you are rich, you have to conserve yourself well and don't let people easily make use of you.

These are the intricate ways of life that many people don't understand.

When you are poor, spend money so that people can see it.

When you are rich, do not show off. Just silently spend the money on yourself.

When you are poor, you must be generous.

When you are rich, you must not be seen as a spendthrift.

Your life would have come full circle and reach its basics.

There will be tranquillity at this stage.

There is nothing wrong with being young.

You do not need to be afraid of being poor.

You need to know how to invest in yourself and increase your wisdom and stature.

You need to know what is important in life and what is worth investing in.

You also need to know what you should avoid and not spend your money on.

This is the essence of discipline.

Try to avoid spending money on clothing, but buy a selective number of items that have class.

 Try to eat less outside.

If you were to eat outside, do make sure you buy lunches or dinners and foot the bill.

When buying people dinner, make sure you buy dinners for people who have bigger dreams than you, and work harder than you.

Once your livelihood is no longer an issue, use the remainder of your money to pursue your dreams.

Spread your wings and dare to dream!

Make sure you live an extraordinary life!

Famous theory from Harvard: The difference of a person's fate is decided from what a person spends in his free time between 20:00 to 22:00 .

Use these two hours to learn, think and participate in meaningful lectures or discussion.

 If you persist for several years, success will come knocking on your doors.

No matter how much you earn, remember to split your salary into five parts.

Take care of your body so that it will still be in good shape.

 Invest in your social circle so that you will constantly meet new people where you can learn new knowledge from.

Expanding your network will also have an important impact in how much you earn eventually.

Travel every year and expand your horizons.

Also keep abreast with the latest developments in the industry.

 If you follow this plan diligently, you will soon see big surplus in your funds

Whatever happened in the past is over.

Do not dwell on past mistakes.

There's no point crying over spilt milk.

Everybody makes mistakes.

It's what you learn from the mistakes, and promising yourself not to repeat those mistakes that matters.

When you miss opportunities, don't dwell on it, as there are always new opportunities on the horizon.

Being able to smile when being slightly misunderstood is good upbringing.

When you're wronged and you smile with calmness, it is generosity.

When you're being taken advantage of and you can smile, you're being open-minded.

When you are helpless and you can do a philosophical smile, you're in a calm state.

When you're in distress and you can laugh out loud, you're being generous.

When you're looked down and you can calmly smile, you're being confident.

When you're being jilted in relationships and you can smile it off, you're being suave.

There are many people who are struggling to make ends meet.

It doesn't matter if you are rich or poor.

There are lessons for all to learn from Li Ka Shing.

Chinese are top buyers of luxury goods

Chinese are top buyers of luxury goods

Tourists queuing in front of a luxury shop in a shopping district in Hong Kong.

 

The New Paper (Singapore )

Tuesday, Feb 25, 2014

 

CHINA - The Chinese remain the most enthusiastic luxury shoppers around the world.

Their purchases made up 47 per cent of the global luxury sales last year, an industry report showed.
Chinese consumers played a key role in sustaining the growth of the global luxury market, which grew by 11 per cent year-on-year to US$217 billion (S$275b) last year, the Global Times newspaper reported, quoting Fortune Character magazine.

A report published by consultancy Bain & Company in December had said Chinese purchases made up 29 per cent of the global luxury market last year.

Friday's report put the consumption of luxury goods in China last year at 28 billion yuan (S$5.8b), up about 3 per cent from a year earlier, while luxury goods bought abroad reached US$74 billion.

Chinese shoppers did 73 per cent of their luxury shopping abroad last year, up 8 per cent from a year earlier, a luxury industry expert with the magazine said.

Ms Ding Juan, 30, a white-collar worker in Guangzhou, travelled to Italy during the Spring Festival holidays.

She told the Global Times: "Many luxury stores, especially local brands such as Prada and Ferragamo, were crowded with Chinese, and you could easily find shop assistants who speak Chinese."

What to do if you lose your mobile phone ???

What to do if you lose your mobile phone ???

If you lose your mobile,
Got an interesting fact to share.. Nowadays each one of us carries Hi Fi Mobile devices and always fears that it may be stolen. Each mobile carries a unique IMEI i.e. International Mobile Identity No which can be used to track your mobile anywhere in the world.

 This is how it works!!!!!! 1. Dial *#06# from your mobile.
2. Your mobile shows a unique 15 digit
3. Note down this no anywhere but except your mobile as this is the no which will help trace your mobile in case of a theft.
4. Once stolen you just have to mail this 15 digit IMEI no. to cop[@]vsnl.net 5. No need to go to police.
6. Your Mobile will be traced within next 24 hrs via a complex system of GPRS and internet.
7. You will find where your hand set is being operated even in case your no is being changed.

 

PASS ON THIS VERY IMP MESSAGE TO ALL YOUR FRIENDS AND RELATIVES.

 If you lost your mobile, send an e-mail to cop[@]vsnl.net with the following info :-
 

Your name:
Address:
Phone model:
Make:
Last used No.:
E-mail for communication:
Missed date:
IMEI No.:

 Keep all these information stored for emergency use

HOW TO MAKE SYMBOLS WITH KEYBOARD

HOW TO MAKE SYMBOLS WITH KEYBOARD

 

 

Alt + 0153..... ™... trademark symbol
Alt + 0169.... ©.... copyright symbol
Alt + 0174..... ®....registered trademark symbol...
Alt + 0176 ...°......degre­e symbol
Alt + 0177 ...±....plus-or­-minus sign
Alt + 0182 ...¶.....paragraph mark
Alt + 0190 ...¾....fractio­n, three-fourths
Alt + 0215 ....×.....multi­plication sign
Alt + 0162...¢....the cent sign
Alt + 0161.....¡..... .upside down exclamation point
Alt + 0191.....¿..... ­upside down question mark
Alt + 1...........smiley face
Alt + 2 ......☻.....bla­ck smiley face
Alt + 15.....☼.....su­n
Alt + 12......♀.....f emale sign
Alt + 11.....♂......m­ale sign
Alt + 6.......♠.....s­pade
Alt + 5.......♣...... ­Club
Alt + 3............. ­Heart
Alt + 4.......♦...... ­Diamond
Alt + 13......♪.....e­ighth note
Alt + 14......♫...... ­beamed eighth note
Alt + 8721.... ∑.... N-ary summation (auto sum)
Alt + 251.....√.....s­quare root check mark
Alt + 8236.....∞..... ­infinity
Alt + 24.......↑..... ­up arrow
Alt + 25......↓...... ­down arrow
Alt + 26.....→.....ri­ght arrow
Alt + 27......←.....l­eft arrow
Alt + 18.....↕......u­p/down arrow
Alt + 29......↔... left right arrow

 

Top 5 personal finance books for the everyday saver

February 18, 2014

If you're keen to gain more knowledge and other financial tips to help you with your money, here are 5 books that you can read.

 

By Michelle Brohier
As the common saying goes, knowledge is power and it is with knowledge that we can make the right decisions to better our lives. You can especially do the same with your finances, where making the right decisions with the right information and knowledge helps you from accruing further debt or other financial losses.

The most common way to gain knowledge is through books; and with the right book, you can learn how to get yourself out of debt, grow your savings and lead a more comfortable life. However, it’s difficult to know which books are best for the average Joe or Jane instead of those made for super investors or money gurus. To make things easier, we’ve done the research for you. So if you’re keen to gain more knowledge and other financial tips to help you with your money, here are 5 books that you can read.



The Total Money Makeover – Dave Ramsey
Dave Ramsey is a known personality on money and business and his book is all about using common sense when it comes to your finances: avoid using credit, pay cash as much as you can, stay away from debt and build an emergency fund.

Pros: Ramsey has a lot of good tips that, once followed, can change the way you look and handle money.

Cons: He harps against credit and debt a little too harshly which may put some people off. So proceed on this one with caution if you’re easily put off by or sensitive about criticism.

Rich Dad Poor Dad – Robert T. Kiyosaki
One of the most popular Personal Finance books of all time, Rich Dad Poor Dad captures the author’s experience learning from two fathers, his real father and the father of his best friend who is rich, and how it has shaped his thoughts on money.

Pros: Overall, the book has some really good tips on how to grow your money, and it is easy to understand.

Cons: His advice is too simple, telling you where to invest your money without showing how or the risks that are involved.

The Millionaire Next Door – Thomas J. Stanley & William D. Danko

While the first two books are written by well-known people in the finance world, this book was written based on years of research which profiles people who have already become millionaires. This gives you a better perspective on the kind of lifestyle you can lead to have more money in your savings.

Pros: It has seven common sense points that can help you keep your finances in order as well as grow your wealth. And with the insight of how rich people think and live.

Cons: There are a lot of statistics and information that may not be applicable to you or may confuse you.

Your Money or Your Life – Joe Dominguez and Vicki Robin
This book not only shows you how to gain control of your money, it will help you make your own life rather than just making a living. The book gives you anecdotes and examples and tells you how to get out of debt and develop savings, sort out your material priorities and live well for less, resolve inner conflicts between values and lifestyle and much more.

Pros: The tips help you correlate your lifestyle to your money, helping you to lead a better life with simple tips on how to take control of it.

Cons: You may not be able to relate to some of the steps offered as this book is American which means some tips may not apply.

Think and Grow Rich – Napoleon Hill

Napoleon Hill interviewed a series of millionaires and philanthropists back in the 1930s and until today, the tips and advice used here has changed the lives of many. While it does encourage the notion that “greed is good”, it agrees that it is only good if the wealth is shared.

Pros: The philosophy in this book can not only apply for finances, it could also apply to any of your endeavours or personal ambition.

Cons: It can be a product of its time and can be difficult to read, making it hard to get to some of the good points of the book.

There are all sorts of books that talk about personal finance and how you can gain better control of it.

So be sure to choose the book that rings true to you and has values that you can both follow and treasure.

While it’s good to depend on the tips you can find online, books still hold a wealth of knowledge that you may be able to apply into your life better.

Happy reading!

This was brought you by Michelle Brohier from RinggitPlus.com. RinggitPlus compares credit cards, personal loans and home loans to help Malaysians get more for their money.

Best travel money-saving tips

February 14, 2014

The biggest problem with traveling though is the fact that it can be a rather expensive affair.

 

By Michelle Brohier
Be it to escape the tortures of daily life; to partake in a fascinating cultural exchange or even just to see the pretty sights; everyone has dreamt of traveling at least once in their life. Articles on Facebook recommend it, tempting you with promises that it will change your life, help you appreciate yourself and others more with offerings of new experiences.

The biggest problem with traveling though is the fact that it can be a rather expensive affair.

That doesn’t mean that you shouldn’t travel if you can’t afford to spend exorbitantly, it just means that you have to be smarter when it comes to traveling.

There are many tips available online to help you cut down cost and save. Here are some really good ones you can find on various sites.

Clear your cache
When you’re doing your research online for cheap flights, transportation and accommodation, it’s best to clear your cache as often as possible. Most of these sites may be monitoring your web history and instead of dropping the price, they may raise it even further to raise their margin as they know it’s the destination and date you really want.



Book at the right time Finding the right timing to purchase airline tickets or even reserving a hotel room really defines how much you’ll end up paying. Book too early and you could miss out on a new sales promotion that could have saved you significantly. Book too late and you may not only pay more but receive far worse offers. So look out for the best deals, keeping track of when cheap promotions are announced and gather information from other people’s experience to help you figure out the best time to book a flight or room.

Be aware of extra fees
Ignorance may be bliss but not knowing all the possible hidden fees involved in your travel plans could be costing you more. Read the fine print of your payment purchases, taking note of the additional fees and how you can possibly cut them out. For example, knowing how much you’ll have to pay for baggage fees could help you from packing just enough without getting hit with extra charges. So find out more on all the extra fees and find ways to avoid them or keep them to a minimum.

Take advantage of reward points
If you have a credit card, loyalty or even membership card that can give you possible free flights or services for traveling, be sure to take advantage of them. Check the amount of points you have and if you’ve collected enough to get what you need, you can use them. But be sure to read the fine print and that there won’t be possible extra charges for the “free items” that you’re claiming. Also, don’t force yourself to spend beyond your means just to get the points that you need as the interest or extra charges you may get may be more than the cost of purchasing the actual item yourself.

Don’t overspend on travel insurance
You can opt for full travel insurance especially if your travel is rather expensive. But make sure that you’re not paying for one when another insurance that you already have has you covered. There are a number of credit cards that offer travel insurance as part of their cardholder agreements, as long as you purchase the flight ticket with the card in question. So check with your provider before making any decisions on insurance.



Saving on food
Other than hotels and airfares, your next biggest expenditure is definitely food. Rather than eat out constantly, look into booking a room at a hotel with apartment or suite facilities that include kitchenettes. This way you could prepare some of your meals in the room and save on exorbitant restaurant prices. In the same way, go for hotels or homestays that offer free complimentary breakfast.

Be sure to do as much research as you can when you’re planning your travels and don’t be afraid to ask the providers questions on any areas that may be unclear. Do read reviews of the services or items you’re interested in purchasing and always check out other brands or services to make a good comparison. Traveling may take a lot of work, but the efforts may make the entire process worth it, so don’t give up! Keep learning and reading what you can online and you’ll soon be enjoying that dream holiday you’ve always wanted.

This was brought you by Michelle Brohier from RinggitPlus.com. RinggitPlus compares credit cards, personal loans and home loans to help Malaysians get more for their money.