Empire@Subang Jaya and Di Wei

The newish Empire shopping mall @ Subang is one snazzy place. Its not too big and parking is not too bad (for now). There are not that many chain stores which gives the place a bit of character. There's the hair salon on 3rd floor that gives you an iPad to play with while getting your hair done (yes, they have more than a few laying around). The Loaf is there at the foodie floor and you must check out the other end, a little cafe that serves great coffee and macaroons and stuff. There is a place called Vanilla on the top floor that serves the best lasagna, ready made for take home as well.

Then there is this funky Chinese restaurant Di Wei (Royal Taste/Cuisine). Its modern Chinese decor will unsettle your senses but the food is usually good to pretty good. They have an unbelievable Christmas set dinner - tell you the price at the end.


This has to be the tastiest lormaifan ever, its very light and mini, could have 3 of these.

There's your veggies and pork rib (the cod fish ran out). Decent.

Thin turkey chop in black pepper sauce, surprisingly very good. There's also the prawns dish which was forgettable.

Are we in a museum? The chairs a bit modern, the longest chopsticks you have ever used, and wait till you see the lighted catwalk in the middle.

Abalone, wukai, dried scallop and meat - very very soothing. This soup alone I'd be willing to pay RM35.
The whole shebang: RM98++ ... but will last till 23 Dec only. They even let me substitute the dessert for my fav ginger tea with sesame tongyuen and my companion switched to thunsuetyee, great tasting. Oh, and you also get a glass of red or white wine, I told you this was modern Chinese!!! Merry Christ-mass!!!

US Trade Deficit and China

While many have been harping about the US trade deficit and the role China has in it, that has been the key argument to support a stronger yuan. However, the reality is quite different. I have said before that about 60%-70% of China's exports are actually produced and manufactured by foreign companies operating in China. The WSJ has a brilliant article on the iPhone trade imbalance and perception. Two academic researchers estimate that Apple Inc.'s iPhone—one of the best-selling U.S. technology products—actually added $1.9 billion to the U.S. trade deficit with China last year, officially.

How is this possible? The researchers say traditional ways of measuring global trade produce the number but fail to reflect the complexities of global commerce where the design, manufacturing and assembly of products often involve several countries. A distorted picture is the result, they say, one that exaggerates trade imbalances between nations.

Trade statistics in both countries consider the iPhone a Chinese export to the U.S., even though it is entirely designed and owned by a U.S. company, and is made largely of parts produced in several Asian and European countries. China's contribution is the last step—assembling and shipping the phones.

So the entire $178.96 estimated wholesale cost of the shipped phone is credited to China, even though the value of the work performed by the Chinese workers at Hon Hai Co. accounts for just 3.6%, or $6.50, of the total, the researchers calculated in a report published this month.

"What we call 'Made in China' is indeed assembled in China, but what makes up the commercial value of the product comes from the numerous countries," Pascal Lamy, the director-general of the World Trade Organization, said in a speech in October. "The concept of country of origin for manufactured goods has gradually become obsolete." Mr. Lamy said if trade statistics were adjusted to reflect the actual value contributed to a product by different countries, the size of the U.S. trade deficit with China—$226.88 billion, according to U.S. figures—would be cut in half. To correct for that bias is difficult because it requires detailed knowledge of how products are put together.

Based on U.S. sales of 11.3 million iPhones in 2009, the researchers estimate Chinese iPhone exports at $2.02 billion. After deducting $121.5 million in Chinese imports for parts produced by U.S. firms such as chip maker Broadcom Corp., they arrive at the figure of the $1.9 billion Chinese trade surplus—and U.S. trade deficit—in iPhones. If China was credited with producing only its portion of the value of an iPhone, its exports to the U.S. for the same amount of iPhones would be a U.S. trade surplus of $48.1 million, after accounting for the parts U.S. firms contribute.

Other economists say some aspects of the researchers methodology may have led them to overstate their case. The study, for example, assumes that companies such as Toshiba Corp. and Samsung Electronics Co. that make components for the iPhone wholly assembled them in their home countries. But many of Apple's suppliers have manufacturing facilities in China, so it's likely that some portion of the components they build for the iPhone are made in China as well.

The latest results are broadly similar to analyses made by the Personal Computing Industry Center at the University of California, Irvine, of the trade and manufacture of another Apple product, the iPod. That research also found that Chinese labor accounted for only a few dollars of the iPod's value, even though trade statistics credited China with producing its full value.

Read more: http://online.wsj.com/article/SB10001424052748704828104576021142902413796.html#ixzz18TMfW1B5

p/s of course the other fascinating thing is how much an iPhone actually cost to produce, ... even if you lock in another $100 for advertising and marketing, Apple is enjoying incredible margins before appointing the "die hard telcos" wanting to work with Apple.

Great Fish Head Meehoon Soup

Some of you have commented that I only feature expensive eating places. Not really, if you scroll back, you will find Shin Kee beef noodle @ Petaling Street, Ah Sang bak kut teh @ Sungei Way, Hing Ket grill house @ Klang, etc.

This time, I am recommending this great place for premium Fish Head Meehoon soup. Its at Damansara Kim.

Location of GPS listed below.

The soup base is just right, the fish head is of a high quality hence the premium prices. Try their grilled salmon as well, its very juicy and delicious. Remember to order a plate of fried fish skin to put into the meehoon soup, its a must.

GPS Location:
N 03'08.089'
E 101'37.747'

What IMF and ECB Talk About In Private

IMF chief Dominique Strauss-Kahn (left) talks to ECB President Jean-Claude Trichet during a euro zone finance ministers meeting in Brussels December 6, 2010.


IMF Khan: Its OK, them throwing stuff at you does not mean they don't like you.

ECB Trichet: I hate my job, I should have just retired and watch football, I don't need this crap. You told me this was a cushy job dude,... I hate you too.

IMF Khan: Look at it this way, don't you feel good to have people begging you to do stuff, pleading you to give them money ... at our age, its good to be needed.

ECB Trichet: Yeah, I guess so ... but there is so much work, one country after another... Greece was OK, cause nobody really cared about Greece, and I probably get to buy a holiday home at Mykanos much cheaper next year too ... but the Irish whinge and whinge .. I told them that their banks need their bondholders to agree to haircuts... and guess what, the French and Germans started shouting into my ears that if we do that, they would not approve any bailouts for Irish banks.

IMF Khan: You should know better, German and French banks hold a lot of bonds in Irish banks (and other smaller country European banks as well)... if you want them to have a haircut, that would wipe out their equity in those banks, of course they would not agree to that kind of bailout.

ECB Trichet: You can say that again ... that means the ECB will have to bailout any EU country now that needs money or else we would be deemed as unfair and biased.

IMF Khan: Shit man, that means you guys will have to be printing a whole load of money now and in the future ... I better sell off my properties in Basel and Zurich quick, and that South of France holiday home. The Euro is going to tank. You know Ireland and Greece are just small potatoes, the ECB is going to be in deep shit when Spain gives you a call!!!

ECB Trichet: I know, I know, and in my position I cannot short the Euro futures. Can you get me a chairmanship position in IMF Asia when I resign, and make sure that I get paid in renminbi... pleaaseee...

IMF Khan: I will see what I can do .... btw, why are we holding up the cupboard?

ECB Trichet: Its our ECB's gold vault, we need to make sure its tight and secure as we have very little gold left inside!!! .... Oh btw, did you manage to get me the Tongkat Ali I asked for?

Hajime, Still My Fav Japanese Restaurant In KL

Some may have thought it was going to be tough for an all Malaysian operated Japanese restaurant to survive for so long, and at premium prices to boot. Be prepared to spend RM180-250pp and you will have a triumphant dinner. I am there at least twice a month and my visit last Saturday was sublime.


This may look like a dirty/sexy picture to some, but actually is half the scallop as a sushi.







I initially though this was a waste of toro to be done in a soup, but this toro-leek broth presents a wonderful way to taste toro.



The very seasonal asago fish.































Extremely delicious snack, grilled stingray bones.


The shima aji was sooo sweet and fresh.






Possibly the best black sesame ice cream anywhere, with tons of freshly roasted black and white sesame seed, you can taste the essence of sesame through and through. Their pomelo sorbet is another you must have, its like the whole pomelo in one scoop and they even incorporated the sensual bitterness of pomelo skin into it as well.


Just look at the size of the scallops.
The hard to get hiramae. The hirame fin sushi, which is more crunchy.
The larger than normal sized prawns sashimi, before.
The after, break off the heads, pour some hot sake and suck/crunch the whole head - heavenly.
The huge Japanese oysters freshly shucked.

















Taken from eatdrinkkl http://eatdrinkkl.blogspot.com/2009/08/hajime.html, I didn't have this recently, but did before and thought it should feature: the hedonistic salmon belly-foie gras with truffle oil.

Know Your VIX

The recent sell down owing to the Irish, Spanish and Portugal problems may have been magnified. Throw in the Chinese threat to tighten liquidity and raise rates there. A better way to get a grasp of how perilous or in danger the markets were of "skidding off the slope".

We should monitor the VIX closely to get a sense of how bad things really are. The recent sell down did not even caused the VIX to break 25 on the upside. I have stated before that 30 is key level, if breached on the upside, time to sell off all shares. Otherwise, it would be "OK to buy on dips".

The way the VIX closed over the last 2 days would indicate a firm upswing for most equity market in the near term.

Fracas Over World Cup Hosting

This happens every time ... only now its worse than before. No matter who you select and whatever the process, no matter how transparent, the losers will always bitch and the winners always gloat.

Do I agree with Russia and Qatar being the hosts? No, absolutely not, but I am not part of the 22 who decided the final outcome. One thing for sure, we know who "controls" the English global media/medium - the American media only bitch a little and just went on their way, but the English media played up the conspiracy theories, mainly to sell papers. Pathetic, gutter press.

If you want to be cynical, was the whole thing predetermined, well I think so as everyone gets to lobby, I think the voters had made up their minds before hand. Was there bribery with some of the voters, maybe, but you couldn't possibly bribe every one of them.

2018 FIFA World Cup voting

• Round 1: England 2 votes, Netherlands/Belgium 4 votes, Spain/Portugal 7 votes and Russia 9 votes (as no absolute majority was reached, the candidate with least amount of votes, England, was eliminated)
• Round 2: Netherlands/Belgium 2 votes, Spain/Portugal 7 votes and Russia 13 votes (Russia obtained an absolute majority)

Look at the first round votes, England was doomed, its not nice to be the ugliest girl in the room. I mean c'mon, the first determinant has to be preference for those who have not hosted the World Cup - seriously, Spain/Portugal and Russia deserve to be final two. I would have preferred the former as the Spanish league has captivated global football fans, and needless to say, they also won the last World Cup.

Russia because for such a big country, they have not hosted it yet. Football is not just a game anymore, the World Cup has grander objective, it has to be inclusive. If we did not try the hardest to hold the World Cup in the US years back, I doubt the game would have developed so fast there. Its a global game, and if I was a voter I would want inclusiveness, not a clubby thing among the few strong performers.

I have more reasons for not including Russia owing to its absolute pathetic treatment of foreign companies operating there. The World Cup would never have been held in South Africa if apartheid was still rampant and legal. The World Cup has to reward open-ness and inclusiveness, respectful of the dignity and humanity of mankind. I think Russia still has ways to go.

2022 FIFA World Cup voting

• Round 1: Australia 1 vote, Japan 3 votes, Korea Republic 4 votes, Qatar 11 votes, USA 3 votes (Australia eliminated)
• Round 2: Japan 2 votes, Korea Republic 5 votes, Qatar 10 votes and USA 5 votes (Japan eliminated)
• Round 3: Korea Republic 5 votes, Qatar 11 votes, USA 6 votes (Korea Republic eliminated)
• Round 4: Qatar 14 votes and USA 8 votes (Qatar obtained an absolute majority)

This one should have gone to Australia. I am surprised they got kicked out so early. We already had it in Korea, Japan and USA in recent times. It should have been between Qatar and Australia.

Well, what do you know..., you do not need stadiums, infrastructure, fans and adequate things to do for tourists ... you just need to have a lot of cash. This decision is pathetic and misguided. Did anyone consider the weather???