Oct 22, 2008

Government wanted to borrow your Pension Fund

EPF (Employee Provident Fund) in its early statement has denied EPF involvement towards Value Cap business transaction.

EPF Denies Involment With Valuecap Sdn Bhd

The Employees Provident Fund (EPF) denies reports in today's newspapers (November 20, 2002) which associated the operations of ValueCap Sdn Bhd with the EPF's investments and two other state-run funds.

The EPF wishes to clarify that it has not appointed ValueCap Sdn Bhd to manage the EPF's investment fund. The EPF also denies that its involvement in the KLSE is to shore up the stock market. The EPF's investments are not used to bail out ailing companies.

The EPF invests in companies with sound fundamentals, long-term growth potential and competent management. The EPF is always prudent and professional in its approach when investing members' savings. The Fund ensures that the investments are safe, not exposed to high risks and gives reasonable returns to its members for their retirement.

Deputy Chief Executive Officer (Investment)
Employees Provident Fund

Date: 20 November 2002


On the other hand, Najib Tun Razak (the newly appointed Malaysian Finance Minister 1) has given contradict statement; Value Cap Sdn Bhd to borrow money from your pension fund (my pension fund too). Read here: EPF to lend the RM5b to fund Valuecap

In the mean time, the 2nd finance minister, has told public that "value cap has done well" and EPF will be profited from this transaction.

My comments:

1. Government must be transparent if they want to use EPF money.

2. Is government really wanting to buy undervalue stocks (investing) or to bail out certain companies with the purpose to absorb buying support which is happening at Bursa Malaysia?

3. If valuecap was claimed "has done well" according to finance minister 2, why valuevap must borrow especially from EPF money? where the heck is the profit generated for the last 5 years?

4. In the era of internet age, i haven't seen about valuecap sdn bhd website to see its background, management, fund achievement managed by them.

5. Warren Buffett is one of the successful person who used value invest technique by buying stocks which undervalued. But, the transaction made by him is consistence, be it during market booming or crashing. As long as the price is accordance to his judgment though the overall index is rising and not necessarily down, buffer will still buy the stock. Recently, buffet just bought USD5 billion of Goldman Sachs.

6. Surprisingly, the fund achievement being managed by Warrent Buffet will be publicly announced. Not only that, all stakeholder Berkshire Hathaway will get letter from Warrent Buffet every year to enable him to report directly the progress of Bekshire Hathaway. You and I who are not even buying 1 unit of Berkshire Hathaway, also can have free access to the Berkshire Hathaway Report.

7. But this is not happening to Valuevap which been founded using public fund and yet want to borrow AGAIN using public fund.

8. Perhaps Valuecap can manipulate the law where by Syarikat Sdn Bhd is not obliged to declare its financial and operation but morally if they used public fund, the management need to be more prudent and transparent.

9. Petronas which is wholly owned by Malaysian government also publicly published their financial report to be read by civilians. Why valuecap can't follow good governance shown by Petronas?

10. Initial Step to borrow your money (my money too) is a bit confusing because what happens recently is due to sub-prime crisis where debts are not properly managed.

11. When all financial institution take overcautious action to loan money to any companies at this time, suddenly EPF is so generous to give loan to Valuecap. Not RM50,000, not RM500,000 not RM5 million but RM5 Billion!!!

12. I wonder what is the collateral being used by Valuecap that cause EPF to give loan these much money RM5 billion??

13. What will happen is valuecap loss and not able to repay the loan to EPF? Who would want to pay Rm5 billion? will it be the same to EPF contributors to hold responsibility like what has happened pension fund in US and Europe who currently has big loss because of sub-prime-crisis?

15. We, as the EPF contributor, must force EPF to be more cautious not to easily give such big amount of loan.

16. If government want to really really transparent, they should announce to public which undervalue that valuecap wants to buy using EPF money, so that the contributor can judge whether those company is really qualified to be bought using value investing concept.

17. Once it has been agreed that this transaction will happen, next thing to announce which financial institution will be profited from commission? Will it go to CIMB pocket which headed by Najib's Brother, Nazir?

18. Is Malaysian Facing the situation which is portrayed in Malay phrase:
“Keluar dari mulut Khairy buaya, masuk ke mulut Nazir naga?

How to spot Illegal Deposit taking by companies?

Last week, Central Bank of Malaysia has raided 4 companies which been accused of taking deposit illegally. One of the companies, Buluhmas Enterprise http://www.buluhmas.com was promoted by my old friend, asking me to join. I was quite reluctant to join. then, news breakout; buluhmas together with other 3 companies which has same mode of operations, suspected to have taking illegal deposit (some people would classify under quick rich scheme).

Related News:

Though in the past, so many companies have been raided by Central Bank Of Malaysia, not many people really learn their lesson. For your information, once a company has been accused to operate illegally against BAFIA Act or AMLA act, the account will be frozen. If found guilty, the money will not and will not be refunded to so-called "investor".

To prevent this to happen again in the future, here are some guidelines for you guys on how to spot "Illegal Deposit Taking":
  1. This company is legally registerred with ROC (registrar of companies or known as SSM) under SDN BHD.
  2. They have legal binding agreement, endorsed by lawyer, legal stamp duty as if to show they were very transparent, if anything happened; you can sue them and get your money back. Don't be fooled.
  3. They run a legal business like farming, retailing, franchising, trading, services etc. They look real to you.
  4. They have the so-called investment package, i.e: if you invested RM1,000.00; you'll get certain or reasonable amount of return. They will claim the money will be used as business capital to run the business. Once get profit, it will be distributed in accordance to package.

The fact is:
  1. Under SDN BHD, if something bad happened like bankrupt, fraud; company is dissolved and you can't do nothing about it to its board of directors though you have "legal agreement". This is the loop hole of this "law". Those manipulative lawyers paid by these companies fail to understand laws.
  2. If a company suspended by Central Bank of Malaysia; no lawyers in Malaysia can save that companies though you have the best legal agreement in town and best lawyer in the country.
  3. Companies that are allowed and given permission to collect deposit:
  • Limited Companies (Syarikat Berhad) via Security Commission through share
  • Koperasi which is supervised closely by SKM (Suruhanjaya Koperasi malaysia) through its share.
  • Financial institution like Tabung Haji, PNB (ASB/ASN/Etc) or Bank institution or its subsidiaries (i.e: Bank Islam and its subsidiary Takaful Malaysia, Maybank and its subs like etiqa, public bank and its subs like Public mutual etc). This is inclusive of the collection for saving, investment, fixed deposit and insurance.
Anything that not belong to these 3 categories, if your friends or relatives promote to you no matter what, even in the name of your race, your religion etc; Don't ever give your money.

Read again and again. I have learnt my lesson. When will you??

Oct 19, 2008

4 Wish List

There are 4 things that i wish to have right now.

1. DSLR Camera

- Canon?
- Sony?
- Nikon?

I really don't know which one is the best. All i know, my sony cybershot is not enough for me. I need bigger and sharper image. Can i anyone shoot me a spec, what should i look for when buying DSLR Camera?

One of my friends suggested me to budget for this item around MYR5k.

2. Macintosh PC/Notebook

I went to Machines (apple premium reseller http://www.machines.com.my). I first looked at apple product, OMG, superb!. I want to buy it as soon as possible. Though my company provided laptop but too many restriction. I can't install that, i can't install this. At the end, the laptop is only for email and microsoft office.

The price is around MYR5-6k (complete accessories).

3. iPhone

Apple Iphone. Still i have to wait because its rating for battery is very poor. Nevermind, this can wait for another 2-3 years. No stylus, purely touch screen.

4. LCD tv with Home Theatre

Sony Bravia is really nice. But the product is not really mature yet. Still at the introduction cycles.

These are my wish list. Hope to get it by mid of next year.

Oct 10, 2008

Nostalgic Photo of 2008

A Picture Worth A Million Words

I was trying to play around with the photo effect. Turning the color into nostalgia photo as if the photo was 60 years old. This photo will be 60 years in 2068. By that time, i will be 92 years old. Will I be around? probably my body will be in the graveyard.

Eye Floaters: You might be next

I wear glasses since 10 years ago. I have been impacted by the so-called astigmatism. The optician that i used to see the real cause of my astigmatism is because i like to read while i lie down. As a result of this, it has caused my vision to be blurred. Every once in a while i will have to apply some medicine to my eyes to reduce irritation which sometime interrupt my daily routine, can't watch TV or reading.

Recently I have came across about website Eye Floaters. It really surprise me that i might have the possibilities to have eye floaters disease. Seriously, the word eye floaters is really alien to me. What is Eye Floaters? Read more here.

It is believed that there has no cure yet found for Eye Floaters. Even if there was, it is not guaranteed and you have to undergo a very painful procedure and very costly. Don't believe me? this is what i have excerpted from wikipedia (http://en.wikipedia.org/wiki/Floater):

  • Vitrectomy may be successful in treating more severe cases;however, the procedure is typically not warranted in those with lesser symptoms due to the potential for complications as severe as blindness. Floaters may become less annoying as sufferers grow accustomed to them, even to the extent that they may no longer notice them.

  • There is also Sutureless Vitrectomy, as the standard vitrectomy involves cutting through the conjunctiva, or fleshy part of the front of the eye, and making openings in the pars plana area which require stitches at the end of the surgery. In the sutureless technique, small tubes or canulas or trochars are placed through the pars plana area and very tiny instruments are placed through these tubes. Once the surgery is complete, the tubes are removed and no stitches are needed. Only in certain cases can sutureless vitrectomy surgery be performed.

  • Another treatment is laser vitreolysis. In this procedure a powerful laser (usually an Yttrium aluminium garnet laser) is focused onto the floater and in a quick burst vaporizes the structure into a less dense and not as noticeable consistency.

After reading the above , I'd suggest those who are potentially having the Eye Floater to find any information about Eye Floaters. One of the website that i browse currently is the http://www.eyefloaters.info/. Thanks to it, now I know what is Eye Floaters and how it can impact my life and others.

It is unbelievable if such medicine can help to cure Eye Floaters. You don't need to apply expensive medical for eyes. it is money back guaranteed and no side effect. I have tried some of modern medicine if something irritate my eyes, but i have experience dizziness headache. I therefore believe the secret cure for eye floaters will be a worth while trying it. After all, what do you get to loose?

Don't simply take for granted as Eye Floaters can cost your life. Imagine blurry vision and eye irritation and you drive. If you missed out the blind spot, imagine what could happen to you or other people if you happened to have had an accident because of Eye Floaters.

Oct 8, 2008

Fridge Magnet - Holland

Booked by Kakrohas

-- 2 unit
1 booked by Kak rohas

Booked by Rohas

Booked by AIn

booked by Maria

--- Booked by Pandapenyek

Break Up

I am sure many of us involve in a relationship. some last forever until death their apart. some lasted few years. Some only last few months.

When a clash of a relationship happened, do you blame your partner or you blame yourself? The best therapy to deal with this kind of a situation (clash/break off) is to look at yourself. You should regret for not being a good partner to girlfriend/boyfriend/husband/wife because he/she left with a good reason. You don't treat him well, you being rude; cruel to him/her. That's why he/she leave you even though for third person that happen to cross path into your partner life. or how would i say, u deserve for what you have done! It's your karma.

Evaluate yourself before you put a blame to someone else.

Like wise, if you treated your partner real good and yet they leave you; don't be sad. Because you have done the best you could to your partner. It's not your lost but it's their lost. If you were being good, then he/she will miss the good thing about their partner. Some cases, they tried or will come back for truce, tried to get back together again. at this point, it's up to you whether you want to accept or to reject.

Remember, Just be good and people will treat you well.