Wednesday, 13 May 2015

NYT Op-Ed by Nurul Izzah





The conviction of my father, Anwar Ibrahim, a former deputy prime minister and the country’s opposition leader. In February, the highest court in Malaysia sent him to prison for five years on trumped up charges of sodomy. He is serving his third prison sentence since 1999.

In March, I delivered a speech in Parliament focused on good governance and judicial reform on behalf of my father. The reading was deemed seditious by the government, and I was arrested and locked up overnight.

The Sedition Act, which criminalizes speech uttered “to excite disaffection” against the government, is one of this administration’s favorite cudgels. Its definition is so broad that it gives the government sweeping powers to arrest and lock up critics under the guise of punishing “sedition” or in the ostensible pursuit of maintaining public order.

In the last two years, it has been used successfully to harass or prosecute scores of people, mostly government officials, including several members of Parliament. The cartoonist Zulkiflee Anwar Ulhaque, better known as Zunar, was hit with nine charges under the Sedition Act — mostly based on tweets allegedly attacking the judiciary over the verdict against my father. His artwork and cartoons were confiscated, and he is now out on bail.

In addition to harassing me and persecuting my father, the state has applied constant pressure on my mother, a state assemblywoman, in hopes that she will wilt both physically and psychologically. The police have also hinted of their plans to interrogate my younger sister, Nurul Nuha, who is leading March 2 Freedom, a coalition to free my father.

We are running out of family members for officials to arrest on bogus charges.

What’s most alarming is that the government’s actions are part of a much larger pattern of threats to the rule of law and human rights. In recent months, every week or so brings news of the politically motivated detention of a government critic. I am out on bail now, but my arrest is intended to silence me and to warn other would-be government critics.

The United Malays National Organization, known as UMNO, and its allies have been in power since independence in 1957. The tempo of state repression quickened two years ago after the 2013 parliamentary elections when the opposition won 51 percent of votes cast, versus 47 percent for the government.

Through gerrymandering and the creation of uneven electoral districts, the ruling coalition clung to power by holding on to 60 percent of the seats. The Electoral Integrity Project, an international organization, recently rated Malaysia as having the worst electoral-district boundaries in the world and among the worst election rules. This places Malaysia alongside countries like Zimbabwe, Angola and Egypt.

The opposition’s showing at the polls two years ago was a political near-death experience for Prime Minister Najib Razak and the ruling party. It was answered with investigations, arrests and imprisonment.

Meanwhile, UMNO, whose main constituency has historically been the ethnic Malay Muslim majority, with help from its pliant coalition partners, has cynically raised the mercury on issues related to race, religion and the Malaysian royal family, so as to keep the multiethnic opposition coalition on the defensive.Advertisement

Religious freedom in a country with sizable Christian, Buddhist and Hindu minorities is now endangered as public figures vying for popular support among Muslims have supported the persecution of religious minorities. Christians, who make up about 10 percent of the population, have been a prime target.

Monday, 11 May 2015

New Food Find - Hainan Joy

Apparently they started as a cakes/cookie place a few shops away. They were doing so well that they decided to explore more their roots in Hananese cuisine, albeit the colonial Hainanese dishes. I accidentally stumbled on the place with a dear friend as I did not want to dine at Fatty Crab at 6pm, too early and too crabby at 6pm. The place is located opposite Fatty Crab @ Taman Megah.

Its simply called Hainan Joy. I asked for their signature dish and they replied its the chicken rice, .... again 6pm is not a time for chicken rice, so we ordered ala carte. We had the chicken chop and mutton stew with rice. I would rate the mutton stew at 9/10 ... 1000% better than any mutton or oxtail stuff from Coliseum, and NO STARCH (flour). Great stuff. The stew was aromatic and meat sooo tender.

The chicken chop was simply the BEST chicken chop ever ... crispy batter and juicy chicken well marinated... drizzled with a simple sauce (non starchy or brown saucey). I also had the Hainanese coffee, basically very very good and kau local coffee with condensed milk ... magnificent.

I did not get to try many dishes but from the 3 alone, it tells me a lot about they way they make their food. Just the oil to fry the chicken chop showed that they change their oil daily. Even the fried egg is nice and runny. Even the chips were pretty good. The stew was magnificent.

Give it a go, you won't be disappointed.





The simple non-descript menu belies the integrity of their dishes.



53, Jalan SS24/8, Taman Megah, Petaling Jaya, Kelana Jaya, 47301

Mon.-Sun. 08:00-21:00

Monday, 4 May 2015

Last Few Days To Get Your Tickets

Just a few more days to get your tickets. You can buy them online and collect them at the venue on the day itself. 


http://www.ticketcharge.com.my/en/current-events/invest-in-the-future-a-charity-conference-for-refugee-education




INVEST IN THE FUTURE: Itinerary on 9 May  

9.30am - REGISTRATION
- Refugee photography exhibition by Malaysian Social Research Institute (Potrait of Life)
 
- Photography of Rohingya refugees by Mahi Ramakrishnan
- Hero project sales
- Raffles ticket sales

10.15am - WELCOME REMARKS
  
Jessica Wee
  

10.30am - PUTRAJAYA MRT LINE, HIGH SPEED RAIL & RAPID TRANSIT SYSTEM: PROPERTY INVESTMENT OPPORTUNITIES
  
Ho Chin Soon, Chairman, Ho Chin Soon Research
  

11.10am - PRESENTATION BY REFUGEE CHILD
  
Fugee School
  




11.15am - STOCKS TO AVOID & FOLLOW FOR 2015
  
Salvatore Dali, S&M show BFM
  

11.55am - PRESENTATION BY REFUGEE CHILD
  
Chin Student Organisation
  

12.00pm - POWER OF FIXED INCOME INVESTMENT
  
Thariq Ahmad, CEO, KAF Investment Funds
  

12.40pm - PRESENTATION BY REFUGEE CHILD
  
Chin Student Organisation
  

12.45pm - IS ASEAN FOR REAL?
Patrick Chang, Head of ASEAN Equities, BNP Paribas

1.30pm - KEYNOTE ADDRESS
Koon Yew Yin, Investor/Philantropist

2.00pm - Conference concludes
 


Saturday, 25 April 2015

Disaster in Our Educational System - Koon Yew Yin

Disaster in Our Educational System
Koon Yew Yin
Recently, I received an urgent note from a student who is doing matriculation in a Government school in Kedah where tuition and accommodation costs are covered by the state. I have been helping her with financial assistance for food and miscellaneous expenses since her father is unemployed and she is a deserving student from the poorer class.
Her letter reads as follows:
hi sir it's me …. sorry for disturbing sir. sir i want to ask sir something. sir i really need sir's help. sir if can sir can bank in some of the money before i further my studies in matriculation.
sir i need to buy something as preparation to further my studies in matriculation sir. so please help me sir. i really dont know who to ask help. that why i am asking sir's help. please sir. i hope sir can help me because i dont know who to ask. sir i hope sir can understand me and give me some support. thank you sir. i hope sir will reply my letter as soon as possible. thank you a lot sir.
I have shared this letter with friends not simply to provide an example of the extent of financial desperation and need that hundreds of thousands of poor students in our country face everyday in their lives.
I am also sharing it to show my concern with the standard of English proficiency of our younger generation who are going to colleges and universities. This is not an isolated example. I am sad to say that the overwhelming majority of the students that I am presently supporting have equally low standards of the English language.
These students represent the better ones among their class mates in school. I shudder to think of the standard of English proficiency of the average students in our secondary schools.
How are these students, when they pass through college or university, able to compete in an increasingly globalized employment market? How are they going to function in the private sector or the business world when they cannot express themselves in basic simple English? And what is the quality of the service or communication they will provide when they eventually find jobs?
The main culprit for this phenomenon of our present younger generation of poorly educated - unable to communicate in simple English without making grammatical mistakes - is the Government.
Barisan National has been in power for over 50 years and sorry to say, it has put the country's educational system in the longkang!
The Ministry of Education has been the biggest ministry for a long time and receives one of the largest if not largest budgets. But it appears as if donkeys and meter readers are in charge of the Ministry. Millions of students pass through our national education system and many receive high grades and the Ministry's stamp of approval. The standard of education, however, is so low that these students are virtually unemployable despite their impressive certificates.
And this is why I fear for the worse for the present batch of students that I and others have supported! Poor and deserving yes; but they have been screwed up by our rotten education system
The Government is not the only culprit. There are others culprit in our educational tragedy. I also blame the private sector educationists. There are far too many universities and colleges. Most are owned by business men whose main aim is to make profit. When I read a newspaper article commending a educationist businessman for his noble contribution to the country through his educational institution, I cannot resist a big laugh.
Most of our educationists are pure entrepreneurs. Some want to make a fast buck. Others will be prepared to take their time. More than a few are crooked or unscrupulous and are prepared to lower standards to rock bottom so that as many students as possible can enrol in their institutions.
At the same time, many private sector higher education institutions are charging ridiculously high tuition fees so that the cost of private higher education is getting out of hand and unaffordable to the lower and middle class.
Unfortunately the Higher Education Report which was released by the Government a few days ago is clueless on the concerns raised here.

Wednesday, 22 April 2015

Corp Announcement and How To Interpret Them by Koon Yew Yin

How to interpret company announcements on Bursa Malaysia


Koon Yew Yin
As you know, there are daily many share recommendations from professional analysts employed by Financial Institutions. You must be careful when you read these articles because their main objective is to generate more trading business for their employers. Even if you are convinced in any particular counter, you must always check it up for its profit growth prospect from its Bursa announcements.
My one golden rule in share selection is that I must be sure the company can make more profit in the current year than last year because if the company announces poor annual profit, the share price will tumble down. Even if it is cheap in terms of NTA and P/E ratio, It will continue to come down until it shows increasing profit.
According to Malaysian Securities Commission’ rules all listed companies have to make announcements of their quarterly results and other business activities that are unusual to their daily business operations.
I would like to share with you my experience on how to interpret and take advantage of the various announcements as follows:
  1. Announcement of quarterly result: this is often a catalyst to move share price. If the profit is good, the share price will go up but if the profit is not good the price will likely come down.
  2. Announcement of purchasing a large piece of land for development eg MRCB’s recent announcement of signing the S&P agreement to buy the Germen Embassy land in KL for a few hundred million Ringgit. Many investors would think that it is a wonderful deal to be able to own and develop the property right in the heart of KL. But smart investors with some imagination must consider this purchase very risky in view of the oversupply of properties in KL.  Moreover, it will take about 7 years to complete the project from planning approval to construction and sale of all the properties before you can see the financial result. At the mean time, investors are exposed to 7 years of risk.
  3. Announcement of company share buyback is tricky to interpret. It can mean that the management wants to buy back its own shares because it is undervalued. But sometimes the management wants to prop up the price to stop the price from falling because of poor quarterly result. Investors must look at the profit growth first before buying the share. You may be tempted to buy because the chart says so. Share prices can be manipulated if the daily trading volume is small.  
  4. Announcement of right issues with free convertible warrants can be tempting to many investors. You must be careful to examine the true reason for calling the right issues. Do not subscribe blindly. Quite often due to poor management, the company has poor cash flow and the business has too many challenges. As a result, the company needs more cash. Moreover, this kind of announcement will push up the share price, offering you a chance to sell at a better price. You must remember that good profitable companies do not need to get money from calling for right issues.
  5. Announcement of bonus issues is usually a good sign that the company is able to accumulate sufficient profit to issue more shares to benefit shareholders. This announcement will push up the share price. Of course the price will be adjusted soon after the bonus issue and the price will go up again if the company continues to show good result.
  6. Announcement of share placement of not more than 10% of the total issued shares is a good sign that there is demand by fund managers to own these shares. If they buy them from the open market, it will cost more. This is reassuring to all existing shareholders because the big buyers would have studied the operation of the company in great detail before making such a big financial commitment. They should not think that their interest is being diluted. They must bear in mind that the company will have more cash for expansion which will benefit all the shareholders.
  7. Announcement of a new substantial shareholder who bought all his shares from the open market is a good sign. According to S.C. rules, any investor who owns more than 5% of the total issued shares has to declare his interest. He has also to announce if he subsequently buys or sell the shares because his action will affect the decision making process of other investors.
  8. Announcement of Company Directors’ buying or selling shares is a good indicator of the true value of the shares. All company directors have to make announcement when they buy or sell their shares. If they continue to buy more shares, it is a healthy sign, provided you know that the company is really doing well and that they are not buying them to simply push up the share price.
  9. Announcement by a contractor of securing a large multi million Ringgit contract for the construction of a big project through the open competitive tender system will often encourage investors to rush in to buy the shares in anticipation of the company’s profit growth prospect. Many would think that the contractor with additional work would naturally make more profit. You must remember contracting is a very risky business because of the open tender system. The contractor has to take a lot of risk to submit the cheapest price to win the tender. That is why there are so few really successful listed contracting companies. Very often building contractors are also property developers.
  10. Announcement of dividend is a good indicator of the company’s performance. The company that declares increasing dividend is definitely a good company. This shows that it has positive cash flow and can afford to benefit all its shareholders. This sort of company will not need to call for right issues to raise cash for expansion.
  11. Announcement of privatization of the listed company is rare but when you see this type of announcement, you can make money if you know how to position yourself. The controlling shareholders offer to buy up all the outstanding shares that they do not already own, usually at a higher price than the current market price. As soon as you see the announcement, you can buy it before the price go up to the offered price. If you consider the offer is unreasonable, you can wait until they offer a better price. You must bear in mind that the better offer may not come and it may be more advantage to accept the cash offer and use the cash proceeds to buy other shares.   
Conclusion: There are about 1200 listed companies and every day many of them have to make announcements. It is impossible to read all the announcements. After you have read the above guidelines, you can select the useful announcements to read to save time.
Under the current oversupply of real estate, I will not read announcements by building contractors and property developers because property prices can only come down.
I am not interested to know about huge land transactions and its profit potential.
I will also not read companies that have poor profit growth prospect. That includes plantation counters in view of the depressed palm oil price, even though some of them are selling cheaply in terms of P/E ratio and NTA.

As you know, our Ringgit is the lowest in the last 5 years and readers should look at announcements by companies exporting their products for US$.             

Sunday, 19 April 2015

Its Not Going To Be A Smooth Ride

I do not have the time nor the resources or the inclination to dwell laboriously on the viability of Iskandar. Looking at the geography and proximity to Singapore, one should view Iskandar as a proxy play to Singapore's ascend up the value chain. Their lack of land is exactly what will ensure the long term viability for Iskandar.

However the ride to the pot of gold will not be smooth. As there is not a strong central coordinating body, land is transacted as often and as willingly possible. When there is not central planning (I know there is one but toothless when it comes to the release and development schedule) body that is effective in controlling the supply and demand, it will be rough going. 

As Singapore has to contend with its own woes in pockets of luxury housing (e.g. Sentosa), interest will be tepid. The aggressive projects by Chinese companies will also be a big headache. 

Having said that, there will come a time where the ringgit is so attractively priced or the Singapore dollar is so strong, or that Singapore property is so strong ... that eventually Iskandar will look attractive. In the meantime, the only kind of properties I think will be attractive will industrial in  Iskandar or those than pander to Singapore SMEs wanting, needing or forced to relocate to Johor.

--------------------------------------------




The existing glut of homes in Iskandar will be aggravated by a huge incoming supply this year and the next, which would put property values under greater pressure over the medium term, a research report by Malaysia’s largest bank showed.
Advising investors to be cautious about the region, the Maybank report said that Klang Valley and Penang were better bets. Klang Valley, in particular, is preferred because of the upcoming rapid transit lines, and the Kuala Lumpur-Singapore high-speed rail project that will end at Bandar Malaysia. More importantly, Greater KL and Klang Valley has a strong population growth potential — a possible 40 per cent increase to 10 million by 2020 — that offers more sustainable demand for properties, it added.
The report pointed out that the value of property transactions in Johor had fallen by 33 per cent quarter-on-quarter in the fourth quarter of last year, underperforming the country (-7 per cent) and other major cities such as KL (-12 per cent) and Penang (8 per cent).
Property prices in Johor were also weaker than that of other cities, with the prices contracting 1 per cent quarter-on-quarter. In contrast, property prices in the whole of Malaysia dipped 0.2 per cent.
There are roughly 80,900 units of approved high-rise residences in Iskandar. Latest statistics from Malaysia’s National Property Information Centre (NAPIC) showed that as at the fourth quarter of last year, there were 142,567 homes under construction in the state of Johor, with another 193,271 units planned — among the highest in all of Malaysia.
The aggressive land-banking activities by Chinese developers could also worsen the glut and lead to price wars in the high-rise mixed-development segment, the report said.
“Without coordinated planning and control, this could aggravate the oversupply situation and induce price wars especially in the high-rise mixed development segment,” said Wong Wei Sum, an analyst with Maybank who wrote the research note.
The report also gave its assessment on some of the high-profile projects in Iskandar: At Guangzhou R&F Properties’ Princess Cove project, it noted that despite its prime location in the city centre of Johor Baru, the take-up for its phase 1 residential towers only rose slightly from 46 per cent in October last year to about 60 per cent currently.
Country Garden’s project in Johor Baru’s Danga Bay area is also about 60 per cent sold. A similar proportion of projects in Danga Bay by Greenland, a Chinese property developer, is booked. “Most of the buyers are Malaysians and the three Chinese developers (including Guangzhou R&F) are offering discounts/rebates ranging from 6 to 15 per cent, we were told,” Mr Wong said.
“We remain cautious over the increasingly crowded development space in Iskandar Malaysia and think the oversupply situation is likely to get worse... This will be aggravated by ample incoming supply by end-2015 and 2016 from units which were launched during Iskandar Malaysia’s peak time in 2012 and 2013.”
Property analysts said the concerns raised by Maybank about Iskandar are valid, especially at a time when demand for homes in the special economic region has started to wane, following the implementation of property cooling measures targeted at foreign buyers and tighter lending conditions by banks. If the oversupply situation is not managed well, the vibrancy of Iskandar will be affected with a large number of homes or even entire townships left vacant, the analysts said.
Colin Tan, director of research and consultancy at Suntec Real Estate Consultants, said: “By looking purely at the economics, the Iskandar story should succeed because so long as investments continue to come in, the place should be in a good state. The question is, ‘How long will it take?’ Iskandar’s progress seems to be held back by politics.” 
- See more at: http://www.themalaymailonline.com/malaysia/article/maybank-sounds-warning-on-iskandar-urges-caution#sthash.7zNXAIx0.dpuf

p/s Gloria Emanuelle Widjaja is a breath of fresh air... so pretty, so lanky, so talented ... and only 21

Wednesday, 8 April 2015

Meet Joe Ades

Meet Joe Ades, better known in the internet world as the world's best salesman. His amazing story was that he sells $5 peelers since 1993. Naturally he made money, but he made more than enough to be living at Park Avenue, New York.

So what's so different with him ... he is tenacious, and yes he has a great product to start with but by no means a MUST HAVE product. I think he deliberately priced it low at $5 so that it becomes an impulse buy, and he knows how to push those buttons for an impulse buy - "eh... its not going to break my bank or budget for the week", "seriously it looks damn useful, even if it breaks off after one week, its still just $5 only", ...

He looks spiffy too, always in his suit. Might be overdressed for his job but thats his knack: by over-dressing, he attracts attention; by being in a suit, there is a sense of professionalism than say somebody trying to sell you things off the back of a truck; and he stays in the mode and worked in the same areas day in day out - so much so that even if you ignore and walk around him for months, you'd still somehow wonder what the heck can this guy be selling day in day out, curiosity not only kills the cat, it has a stranglehold on all shoppers.




After the breakup of his third marriage, and a period of residence in Ireland, Ades followed his daughter to New York City,[3] taking up residence in Manhattan.[1]

From 1993 onward, Ades sold $5 Swiss-made metal potato peelers.[4] Known for his engagi
ng sales patter and demonstrations in places such as Union Square Greenmarket, while wearing $1,000 Chester Barrie suits and shirts from Turnbull & Asser.[1] Ades never bothered with a license, meaning that he was often moved on by the New York City Police Department.[1] His pitches and lifestyle eventually meant that he became so famous that he was the subject of a Vanity Fair article series.[5]

Ades sold enough peelers to enjoy cafĂ© society at the Pierre Hotel, on the Upper East Side, and lived with his fourth wife, Estelle Pascoe–November 17, 2007)[6] in her three-bedroom apartment on Park Avenue.[7]

“ Never underestimate a small amount of money gathered by hand for 60 years ”

Unfortunately, he (Joe Ades) passed away February 1st 2009, only one day after learning he had finally been granted American citizenship. Now his daughter does the same. He worked hard enough selling this that he was able to pay for a three-bedroom apartment on Park Ave. in NYC .  Ades  died on February 1, 2009,[3] only a day after being informed that he had been granted American citizenship.[1]