Saturday, 19 December 2015
Friday, 11 September 2015
My Travel Checklist
List of Items for Travel
Passport
Air Ticket + Airport Tax
Destination currency
Visa cards
Local currency
Identity card
Pens
Hotel ticket, any ticket
Travel Visa / Fax / Letter
Jacket / thermal wear
Shaver
Toothbrush
Toothpaste
Tower
Underwear - pairs
Pants / Short Pants for sleep
Shirts / T-Shirts -
Socks - pairs
Raincoat
Slipper
Sunblock oil
Luggage
Plastic bag for dirty cloth
Mobile Phone and backup phone
Mobile Charger
Digital Camera
Battery Charger
Universal power plug
Multi-point plug
Usb cable
Sd card reader
Power bank
Business Papers
Business Cards
Contact Numbers / Addresses
Writing Pad
Mouthwash
Tongue Cleaner
Shaving set
After Shave
Nevia Moisturizer
Talcum Powder
Perfume
Comb
Nail Cutter / Swiss Knife
Handkerchiefs -
Neck ties -
Sweater
Scarf
Hand gloves
Spare carry bag
Chappals/Sport Shoes
Extra Spectacles
Sunglasses
Sun cap
Panadol Tablets
Books / Magazines
Video Camera
Thursday, 20 August 2015
Kenapa selalu restorant Malayu mesti ada problem scaleup
Kenapa selalu restorant Malayu mesti ada problem scaleup.. mula2 buka
ok, dapat reputation, org makin ramai dtg, owner makin masyuk, hire
ramai, expand, owner tak kesah dah kedai, org ramai lagi dtg, service
start jadi hampes, food quality start drop, then suddenly kedai start
kosong, then kedai tutup, rise and repeate.. sad...
Thursday, 13 August 2015
Sunday, 9 August 2015
Wednesday, 22 July 2015
Did Singapore really start from nothing before growing into what she is now?
Zee Kin Tai
I had a ferocious argument with a friend, who started his conversation with "Why Singapore, an island country that started off with nothing, can be so strong and yet ....... (you can imagine that on your own)"
True. Singapore is an amazing example of what a successful society should strike to become like. High GDP, low cost of living, excellent public services and infrastructure, efficient business ambient, and united people.
I had a ferocious argument with a friend, who started his conversation with "Why Singapore, an island country that started off with nothing, can be so strong and yet ....... (you can imagine that on your own)"
True. Singapore is an amazing example of what a successful society should strike to become like. High GDP, low cost of living, excellent public services and infrastructure, efficient business ambient, and united people.
I have to give it to Singapore and her Government to have attain advanced Nation status. They truly deserve it.
What I would like to correct my friend on, was the presumption that Singapore started from 'nothing', without 'resources'. This is not true.
Prior to independant, we were colonized by the British, according to our modern and contemporary history. We had defacto colonization in federated and non federated malay states through residents and advisers whom advices must be acted on, and also dejure colonization in the crown colonies of Straits Settlements (Melaka, Penang and Singapore), as well as North Borneo (Sabah).
During the British rule, both Financial/trade/economic and administrative hub were in Singapore. It was the "defacto" capital of British Colony of Malaya, Strait Settlements and Sabah, for decades.
The advantages of being the "Capital" is you get to enjoy the best of everything. Singapore, as a state was the face of Malaya, entrance point of the Peninsula, and also the conglomorate of the best talents in business, administration, professionals etc.
The first University of Malaya / King Edward College was set up not in Kuala Lumpur, but in Singapore. the best ports, best roads, best buildings, best talents were all in Singapore. It is the central of trading, finance, entreports, etc, and an encapsulation of wealth.
Singapore had a good start as a well resourced country. The best a country can ask for, is to have a best pool of talents running it's politics, business, and society. Singapore has it all. best professionals were trained and groomed in Singapore prior to independants. Business HQ were set up in the tiny island. Suffice to say, "Wealth" of the peninsula was concentrated in Singapore. Even the most recent Governor General of Straits Settlement did not stay in Melaka or Penang. He stays in Singapore.
I shall spare you from the nitty gritty and numbers which you can look up yourself in available history text books etc. What i wanted to say is that we should stop the notion/presumption that "Singapore started off with nothing". Not true.
Singapore starts by being the concentration of the Peninsula wealth, in the form of money, infrastructure, talents, and administration.
Sekian.
What I would like to correct my friend on, was the presumption that Singapore started from 'nothing', without 'resources'. This is not true.
Prior to independant, we were colonized by the British, according to our modern and contemporary history. We had defacto colonization in federated and non federated malay states through residents and advisers whom advices must be acted on, and also dejure colonization in the crown colonies of Straits Settlements (Melaka, Penang and Singapore), as well as North Borneo (Sabah).
During the British rule, both Financial/trade/economic and administrative hub were in Singapore. It was the "defacto" capital of British Colony of Malaya, Strait Settlements and Sabah, for decades.
The advantages of being the "Capital" is you get to enjoy the best of everything. Singapore, as a state was the face of Malaya, entrance point of the Peninsula, and also the conglomorate of the best talents in business, administration, professionals etc.
The first University of Malaya / King Edward College was set up not in Kuala Lumpur, but in Singapore. the best ports, best roads, best buildings, best talents were all in Singapore. It is the central of trading, finance, entreports, etc, and an encapsulation of wealth.
Singapore had a good start as a well resourced country. The best a country can ask for, is to have a best pool of talents running it's politics, business, and society. Singapore has it all. best professionals were trained and groomed in Singapore prior to independants. Business HQ were set up in the tiny island. Suffice to say, "Wealth" of the peninsula was concentrated in Singapore. Even the most recent Governor General of Straits Settlement did not stay in Melaka or Penang. He stays in Singapore.
I shall spare you from the nitty gritty and numbers which you can look up yourself in available history text books etc. What i wanted to say is that we should stop the notion/presumption that "Singapore started off with nothing". Not true.
Singapore starts by being the concentration of the Peninsula wealth, in the form of money, infrastructure, talents, and administration.
Sekian.
Monday, 6 July 2015
WHO MADE THE RINGGIT FELL? NAJIB OR YOU?
Fitch ratings upgraded our outlook from Negative to Stable last week. bursa and Ringgit reacted by going up at least 1%, which is good.
Today, Moody rating responded to queries by REUTERS , stating 1MDB doesn't post systematic risk to our country's financial well being. And I quote you the article here :-
"Moody's: Malaysia 1MDB does not pose systemic risk to government finances
ReutersMonday, Jul 06, 2015
HONG KONG - Malaysia's economy, its banking system and government finances are not under systemic risk from developments at state fund 1MDB, rating agency Moody's said on Monday.
Moody's said the rise in political friction has not affected the government's stance on fiscal reforms.
Moody's said in an emailed response to Reuters that developments related to 1MDB would affect the country's A3 rating only if they materially affected the trend of fiscal consolidation that supports its positive outlook.
The agency also added that last week's media reports were not specific with regards to their sources and "not much different from a lot of the developments related to 1MDB over the past year."
Suffice to say, two of the International Credit Ratings Agencies earnestly chided off allegations that 1MDB issues have any bearings to our economical and financial well being. As opposed to some Blogs, and also some news papers where sentiment and fear mongering were their modus operandi, International Credit Agencies adopt scientific measures to assess a country's financial well being. After their assessment done in due diligence, they were positive about Malaysia's wellbeing.
What then causes the Ringgit value to further deteriorates?
Malaysia is not the only one affected with currency drop, in light of Greece recent unfortunate Referendum Outcome which rejects IMF and EURO bail out packages without certainty in future policies endeavour. :-
The Euro lost 1.1 per cent to $1.0992 by 6:12 a.m. Tokyo time, its weakest level since 29 June, also slipping 1.7 per cent against the yen and 1 per cent versus the pound. The Aussie fell 0.9 per cent to 74.52 U.S. cents, the first time it’s broken 75 cents since 2009, and New Zealand’s dollar slipped 0.6 per cent.
U.S. INTEREST RATE ADJUSTMENT
“The hiking of (USA) Federal interest rates has a clear impact on emerging markets,” said Nizam Idris, Singapore-based head of foreign exchange and fixed-income strategy at Macquarie Bank Ltd. “As the Fed hikes rates,” the attraction of Malaysia’s yields will decrease, he said."
See more at: http://m.themalaymailonline.com/…/ringgit-drops-to-six-year…
In lay terms, as U.S. Fed adjusted their Interest rate upwards, cost of investment becomes higher oversea hence reduced, and demand for ringgit decreased driving our value down.
Those with strong financial background can assist in explaining the technicalities of this, and all you have to do is just to ask them.
CRUDE OIL PRICE DROP
like it our not, our country has a 29% dependency on Oil Revenue. Recent sharp drop in Crude Pricing will result in the weakening of ringgit :- price per barrel become so much cheaper and demand for ringgit to purchase or oil will be lower. This will cause our ringgit to fall too.
BAD DEPICTION OF OUR COUNTRY : POLITICAL INSTABILITY
Mind you, that your friendly neighborhood investors are not as passionate as you are in "changing your government" or "pulling down a regime". While you see these as progressive way of practicing your democratic right, hence posting negative statuses demeaning your country's leadership enthusiastically, they are busy consulting business management consultant who runs sentiment reading in sophisticated tools, telling them the utter state of instability that Malaysia is facing.
That is to say that you made them fear that investing in Malaysia will result in loss due to possible political changes/volatility (one like Thailand), thus encouraging them not to continue investing in our economy. As they pull out their money, they dump our ringgit and moved on, causing ringgit value to fall even further.
CONCLUSION
While our economic fundamentals are solid as per Fitch and Moody, the U.S. Interest rate hike, fall in crude price, Greece referendum, China's economic slowdown, and also your bad mouthing of your country contributed to the downfall of ringgit.
Unlike Tun Mahathir's time, no boogie man like Soros can be blamed this time, especially where it was the Rakyat ourselves who've contributed to it in a way.
For that, I congratulate you to create this self-fulfilling prophecy and successfully catalyzed the materializations of it.
Sekian.
Zee Kin Tai
Thursday, 2 July 2015
Robot kills worker at Volkswagen factory in Germany
An assembly robot has killed an external contractor at a Volkswagen plant in Germany. According to reports, the technician was part of a team setting up the robot at the automaker’s Kassel plant when it reportedly struck him in the chest and crushed him against a metal plate. He later succumbed to his injuries.
Investigations as to how the accident occurred are underway, though initial findings indicate that human error was to blame for the mishap rather than a problem with the robot, which was operating behind the confines of a safety cage. Another technician was present but outside the cage, and was not harmed.
A spokesperson for the automaker said the robot was not a new-generation colloborative robot that works side-by-side with workers on a production line, adding that the unit – which grabs auto parts and manipulates them – had no known technical defect.
The reports added that German prosecutors were considering whether to bring charges, and if so, against whom.
Source
Monday, 29 June 2015
Friday, 26 June 2015
Skunk Works Reveals Compact Fusion Reactor Details
I never thought it would be possible to see fusion reactor in my lifetime. Seems like it will be. Exciting times.
quote of the day
Until such time as the world ends, we will act as though it intends to spin on. -- Nick Fury
Friday, 19 June 2015
Poorly constructed English test paper goes viral - The Rakyat Post
The poor standard of English in the
country has been brought into question again, following pictures of
several poorly constructed English language test questions being
circulated on social media.
The posting on Monday made by Facebook
user Nadia Fauzi revealed several multiple-choice questions in a test
that was constructed with grammatical errors.
“What time is the concert starts ?” was among the questions asked in the test.
Nadia, who is the mother of one of the
students, who sat for the exam, lamented the poor standard of English
set in the school which she described as a “high-performing school” and
one of the top schools in the Federal Territory.
It was also learnt that the school that her child attended was Sekolah Kebangsaan Bukit Damansara.
In her posting, Nadia also slammed the school teacher who decided to punish her child for correcting the mistakes.
“This is how bad our English standard is
in schools. And when my son corrected her, the teacher called him stupid
and said that she’s right and he’s wrong. Wow.
“I won’t say anything to her about this because I know (for a fact) that she will penalise him even more.
“She had the cheek to deduct one mark
from him for bad handwriting, but she doesn’t think that her paper is
all screwed up? This is so embarrassing ! ” read the post which has
gathered 26 likes and 326 shares as of 3pm today.
Facebook user Azlina Megat describes the English language paper as “horrifying”.
While another Facebook user Ng Eu Gin
shared his thoughts with Nadia by saying that situations such this one
puts an undue burden on parents to correct the child’s understanding of
power and authority, since questioning the teacher reflects one’s
rudeness.
Angry netizens, however, slammed the teacher and the school for due lack of professionalism and poor education standards.
Some were also seen to be agreeing that
Education Minister Tan Sri Muhyiddin Yassin should take serious action
on the standard of English being taught in the country’s schools.
On June 10, Muhyiddin who is also deputy
Prime Minister, announced in Parliament that students needed to be
prepared for the English paper in SPM as it would be compulsory to pass
the subject next year.
It was reported that Muhyiddin also said
that the government remained committed to emphasising the increase in
proficiency of the English language in schools, despite having no plans
to change the medium of instruction in national schools from Bahasa
Malaysia to English.
Monday, 15 June 2015
Opah, the world's first warm-blooded fish species, flaps fins to generate heat
Source theguardian
The opah is the first fish species found to be fully warm-blooded, circulating heated blood throughout its body much like mammals and birds, research has revealed.
The fish, found in the waters off the US, Australia and several other countries, generates heat by constantly flapping its fins and has developed an internal “heat exchange” system within its gills to conserve the warmth.
This adaptation means warm blood that leaves the opah’s body core helps heat cold blood returning from the surface of the gills where it absorbs oxygen, maintaining an average body temperature of about 4C to 5C.
This system, likened by scientists to a car radiator, is similar to that used by mammals and birds, which are known as endotherms for their ability to maintain body temperature independent of the environment.
Tuesday, 9 June 2015
HUGE Worm, so disgusting ~~ v.v
Fishermen in Taiwan recently spotted a giant, bright-green worm
waggling what looks like a pink tongue and posted a video of it online
last week. The footage has since gone viral.
The creature in question is a type of nemertean, or ribbon worm, called Lineus fuscoviridis, says Jon Norenburg, chair of invertebrate zoology at the Smithsonian's Natural History Museum in Washington, D.C.
Monday, 8 June 2015
Quote of the day
Be careful of believing what you read, you might die because of a misprint. -- mark twain
Sunday, 7 June 2015
M.O.P. 2828 Forex Scam (Bankrupt), Founder, Alvin Boon disappeared
Date : April 8th, 2015
Subject: M.O.P. 2828 and Easy Capital Global scam
Dear Mr./Ms./Mrs. Traders/Investors/Marketers,
I am writing to discuss about Easy Capital Global issues. I feel very sorry and I apologize for the late explanation because Heng Swee Boon (Alvin) did not give us a proper explanation about the withdrawal, website, and MT4 issues. As your concern, I investigated Easy Capital Global company all over again and I found not only the website and MT4 was down but their licenses already changed name and will strike off in June 2015.
The reason I write this message to you is because Alvin did not fulfill his promised to us. He promised us that the company is good to be invested in and promised us will go to Australia to look for solutions for the late withdrawal issues but he did not pick up any call after Chinese New year. Right now, the situation of Easy Capital Global looks like a scam rather than a legit broker. In the meantime, Alvin Boon disappeared and refuse to explain to us right after Easy Capital Global withdrawal issues show up. Is there something between Alvin Boon and Easy Capital Global?
This email is not to complain but I hope we can start an action together to claim our money back. I had consulted a lawyer and found that we can report these scam issues to ASIC and police department. I am highly recommending to report to ASIC because after ASIC investigated the reported company, the outcome would be punitive, protective, preservative, corrective, negotiated resolution and there will be compensation depending on the investigated results. In addition, clients should also report to Malaysia Police Department to keep a record.
I have attached some sample of report which my friends and I had done early. By the way, I also attached some information in this email and I think it would be helpful to your report.
I hope all of you can stop waiting for Alvin’s answer and start reporting in ASIC and police department. Please collect more evidence to prove you are one of the scam victims. Do not hesitate to contact me if you have any questions.
Best wishes,
CHONG JUN SIONG
Subject: M.O.P. 2828 and Easy Capital Global scam
Dear Mr./Ms./Mrs. Traders/Investors/Marketers,
I am writing to discuss about Easy Capital Global issues. I feel very sorry and I apologize for the late explanation because Heng Swee Boon (Alvin) did not give us a proper explanation about the withdrawal, website, and MT4 issues. As your concern, I investigated Easy Capital Global company all over again and I found not only the website and MT4 was down but their licenses already changed name and will strike off in June 2015.
The reason I write this message to you is because Alvin did not fulfill his promised to us. He promised us that the company is good to be invested in and promised us will go to Australia to look for solutions for the late withdrawal issues but he did not pick up any call after Chinese New year. Right now, the situation of Easy Capital Global looks like a scam rather than a legit broker. In the meantime, Alvin Boon disappeared and refuse to explain to us right after Easy Capital Global withdrawal issues show up. Is there something between Alvin Boon and Easy Capital Global?
This email is not to complain but I hope we can start an action together to claim our money back. I had consulted a lawyer and found that we can report these scam issues to ASIC and police department. I am highly recommending to report to ASIC because after ASIC investigated the reported company, the outcome would be punitive, protective, preservative, corrective, negotiated resolution and there will be compensation depending on the investigated results. In addition, clients should also report to Malaysia Police Department to keep a record.
I have attached some sample of report which my friends and I had done early. By the way, I also attached some information in this email and I think it would be helpful to your report.
I hope all of you can stop waiting for Alvin’s answer and start reporting in ASIC and police department. Please collect more evidence to prove you are one of the scam victims. Do not hesitate to contact me if you have any questions.
Best wishes,
CHONG JUN SIONG
Friday, 5 June 2015
Malaysia, heaven for rohingya!!
They came illegally, they invite their family come together ~happy family. After that they work as a illegally workers, breeding many babies.
My dear government, WHERE THE HELL YOUR ENFORCEMENT!!!
My dear government, WHERE THE HELL YOUR ENFORCEMENT!!!
Thursday, 4 June 2015
Wednesday, 3 June 2015
Quote of the day
There is no clean slate. But there are second chances. Don't waste something real while looking for a myth.
Friday, 29 May 2015
Keep flying MAS
Keep flying MAS. Whatever happened to you, I have you in my heart. There are times where you fly high, and there are times you fly low. No matter how much hard times you are facing, you carry our country's name. Every airport you land, you land with the pride of Malaysia, the country and name that we all loved so much.
I thank you for all the great moment you have given us. It is time like this, that we would repay you the love that you have given us. We as Malaysian, we as your family will stand behind you, to rally behind you in steadfast, and to help you through this period of difficulty.
It is our intention to see you ascend high up again, and we are willing to suffer the pain together with you in the course of your healing. You are never alone. You are us and we are you.
To every Malaysian who are serving MAS, or who have served MAS, I take my hats off for you. Even if you are retrenched, it doesn't mean that we will forget all the good time we had with you.
MAS, Keep flying. You have us with you. Malaysia is behind you.
Zee Kin Tai
Thursday, 28 May 2015
Little Acts of Kindness that Go a Long Way
We often forget the power of little things and how even the smallest
acts of kindness, care, and respect for one another can often leave a
lasting impression far larger than the act itself.
Simple meaningful gestures can always brighten someone’s day! It doesn’t take lots of money or extravagant gifts to make someone happy. We often forget how much of an impact a little act of kindness can have, which may not mean much to the person doing them, but may mean the world to the person receiving them.
Here’s our list of the little acts of kindness that can not only make us all feel better but most importantly brighten someone's day…
Simple meaningful gestures can always brighten someone’s day! It doesn’t take lots of money or extravagant gifts to make someone happy. We often forget how much of an impact a little act of kindness can have, which may not mean much to the person doing them, but may mean the world to the person receiving them.
Here’s our list of the little acts of kindness that can not only make us all feel better but most importantly brighten someone's day…
- Greet someone standing next to you in the elevator
- Take a minute to direct someone who is lost, even though you're rushing
- Write a letter to a child or an elderly who could use some extra attention
- Offer to pick up groceries for an elderly neighbour
- Buy food for a homeless person
- Help an elderly climb the stairs or hold the door open for them
- Each time you get a new item of clothing, give away something old
- Out of the blue, send flowers to a friend
- Say ‘please’ and ‘thank you’ and really mean it
- When you're in a crowded train or bus, offer your seat to an elderly, disabled or pregnant lady
- Don't interrupt when someone is explaining themselves
- Stop jumping queues
- Help a blind person, elderly cross the road
- Stop at the Stop sign and wait for the signal to turn green
- Honk a little less
- Feed a starving stray dog
- Call or write to a teacher/mentor who changed your life
- Bring a box of goodies to share with people at work
- Forgive someone a debt and never bring it up again
- Always listen attentively
- Show appreciation
- Simply say ‘I'm sorry’ when you're wrong
- Leave a generous tip for a pleasant waiter
Thursday, 21 May 2015
1MDB : A PERSONAL VIEW
E. Zari 18 May 2015.
In the past, I have not said much about the controversial issue surrounding 1MDB. Why 1MDB? What are the roles of 1MDB and its contributions to our national economy? I have been keeping this information to myself for sometimes as I feel it may not be the right time to share with my esteemed readers. However, today I was taken by the information transmitted to me by my close friend. This piece of information is similar to the one which I have been keeping all this while.
In the past, I have not said much about the controversial issue surrounding 1MDB. Why 1MDB? What are the roles of 1MDB and its contributions to our national economy? I have been keeping this information to myself for sometimes as I feel it may not be the right time to share with my esteemed readers. However, today I was taken by the information transmitted to me by my close friend. This piece of information is similar to the one which I have been keeping all this while.
I am convinced that
this is a non-biased piece of information. Being a LNG Consultant and in
the course of my works, I have the opportunity to interact with
PETRONAS, TNB, TNB Fuel, PEMANDU, Energy Commission and other known
organizations for nearly 3 years from 2011. I help to educate the
personnel from PEMANDU, TNB, Energy Commission on the new source of
energy – Liquefied Natural Gas as a feed for the power plants and city
gas.
My area of specialization is energy. I was once a principal specialist in LNG shipping operations in PETRONAS. I have spent 35 years of my career in this field. Energy is the life blood for infrastructures development and this is a major ingredient for our country in achieving economic progress to become a developed nation.
I leave it to my esteemed readers to interpret on what I have outlined. After all we are human and I expect each and every one of us to have their own views.
Back in 1990s, Malaysia introduced the concept of Independent Power Plant (IPP) for electricity generation. This initiative was under our former Prime Minister, Tun Mahathir. The main players who owned the IPPs were Tan Sri Syed Mokhtar, YTL group, Genting and Anand Krishnan. Sime Darby was also one of them but being a Government linked company not much attention was given. These players got the most attractive deal and it was a one sided. The former chairman of TNB, the late Tan Sri Ani Arope, a man of integrity refused to sign the agreements and he voluntarily resigned in protest.
The opposition parties took the Government to task for granting a one sided deal. They argued that it was a “crony’s agreement” and questioned the needs for the Government to grant substantial subsidy to the IPPs. Even in May 2011, one of the opposition members regarded these IPPs as “a major drug factory” that required substantial subsidy from the Government of estimated RM19 billion a year.
In the mid-2011, I was taken as a LNG Consultant to look into the possibility of importing LNG through the Malacca Regas Terminal at Sungei Udang. This terminal is an open gate similar to the one I used to do in United Kingdom - the Dragon LNG Regas Terminal located at Milford Haven in Wales. The Sungei Udang’s LNG Regas Terminal is owned by PETRONAS and the imported LNG is vaporized as gas to flow into the PGU pipelines. This is in view of the insufficient domestic gas from the East Coast of about 950 mmscfd. TNB requires about 1350 mmscfd. The capacity of Sungei Udang is about 500mmscfd or equivalent to about 40 cargoes of imported LNG via the Q Flex LNG ship of capacity 210,000 m3 each.
Actually, I am humble to note that the concept of the floating LNG storage using two of our old LNG ships with an island jetty, the first in the world was mooted by me to the CEO of PETRONAS Gas the ownership of this project. This idea came by while discussing with him in the car on the way to Narita Airport from Tokyo. With this idea, PETRONAS saved for not doing the dredging and a greenfield shore LNG storage which costs would be very substantial.
As a result of the marked disparity between imported LNG and domestic gas price, TNB who earned a thin margin from the IPPs was not able to absorb this disparity in prices and therefore was not able to buy the gas from the imported LNG directly. Ultimately, PETRONAS has to be the importer and therefore a subsidizer.
Under PM Najib, a company, My Power was formed by the Government to initiate renegotiation with the IPPs for a balanced deal. Thereafter, 1MDB purchased the IPP from Ananda in March 2012 and followed by the purchase of Genting in August 2012. Subsequently, in October 2012, Energy Commission announced the decision on the concessionaries agreement with the IPPs. As outlined in this agreement, there is no further extension of concession for the IPP owned by Ananda and also new concessions for the other three IPPs. Only new concessions are to be given to 1MDB and TNB. This new arrangement will ensure that private companies will not earn excessively at the expense of Government’s subsidy.
As a result of the mistake done since 1990s, for the past 20 years an approximate of about RM100 billion was lost by PETRONAS and TNB because of this inferior deal. Actually, credit should be given to PM Najib, Energy Commission and 1MDB for saving our country from this excessive subsidy granted to these favored companies from the earlier regime. To me credit should be given to whom it is due.
Actually, the rates of tariff for consumers for Peninsular Malaysia should be increased by July 2014 and January 2015 under the Fuel Cost Pass Through (FCPT). But it was never increase because the new revised agreement was improved and was more attractive and balanced to TNB, the final purchaser. Instead, the electricity tariff was reduced from March 2015 due to the reduction of coal prices and the reduction of tariff of these IPPs.
Under this new arrangement, TNB started to register substantial profit from 2013, 2014 and the first quarter of 2015. It records a profit of RM2.3 billion in the first 3 months of 2015. Therefore, with this revised arrangement the benefactors are:
1. TNB registers higher profit,
2. The Malaysian consumers benefit from lower tariff partly due to the reduction of oil prices.
3. PETRONAS will not have to incur higher subsidy which in the past benefit only these private companies, and
4. Consumers of electricity are the ultimate winner.
The losers are the original owners of the IPPs. And this may be the reasons why they are not happy with 1MDB and PM Najib even from the senior members of UMNO.
The issue of Tun Razak Exchange (TRX) and the purchase of land by Tabung Haji is insignificant compared with the amount saved by the revision of the agreement initiated by the present Government.
On the other side of the coin, there are allegations by the oppositions for the misused of fund by 1MDB, the role played by Jholow, the disappearance of proceeds from the Petro Saudi investment and latest the controversial sale of a piece of land of about 1.5 acres for RM188 million to Tabung Haji’s subsidiary. These issues started late last year when 1MDB was not able to raise enough fund to pay their loan installment.
The issue is now further twisted and makes it looked as though 1MDB is losing RM44 billion which is not the case. Actually, 1MDB does not lost RM44 billion. What it lost will be the substantial amount of loan repayments which they have to dig from somewhere because of the reversed operating leverage. Temporarily, their current income is not able to cover the loans and other expenses. However, given time they will be able to reverse this situation. Additionally, because of this bad publicity it is feared that Deutsche Bank may request for early settlement as 1MDB is not able to secure additional collateral. We should refrain from speculating further pending the outcome of the Auditor General's findings which will be available the latest by end June 2015.
Other personalities including the prominent lawyer and former minister, Zaid Ibrahim commented that as the Chairman of 1MDB, Najib should stand up and face this by responding to the allegations. The Chairman of CIMB, who is Najib’s younger brother, during the luncheon meeting also asserted that the Chairman of the Board and its members of 1MDB to do the same.
The significant credit due to the Government helmed by Najib to save the nation was downplayed but those temporary difficulties faced by this organisation in this process of helping the nation were exposed and blotted up by the oppositions.
The irony is that during Tun’s tenure, the oppositions were the one who were very vocal when the IPPs owners were given preferential treatment. And now they in turn are equally vocal to discredit the PM and 1MDB who have saved the country from incurring unnecessarily substantial subsidy.
But one thing for sure, the main agenda of the oppositions is to find fault and blotted the mistake or misdeed of the Government or the GLCs in order to earn mileage and swing the voters' sentiments to their side.
That is my fair view and I leave it to my esteemed readers to make their own assessments and judgments on this issue.
Thank you.
My area of specialization is energy. I was once a principal specialist in LNG shipping operations in PETRONAS. I have spent 35 years of my career in this field. Energy is the life blood for infrastructures development and this is a major ingredient for our country in achieving economic progress to become a developed nation.
I leave it to my esteemed readers to interpret on what I have outlined. After all we are human and I expect each and every one of us to have their own views.
Back in 1990s, Malaysia introduced the concept of Independent Power Plant (IPP) for electricity generation. This initiative was under our former Prime Minister, Tun Mahathir. The main players who owned the IPPs were Tan Sri Syed Mokhtar, YTL group, Genting and Anand Krishnan. Sime Darby was also one of them but being a Government linked company not much attention was given. These players got the most attractive deal and it was a one sided. The former chairman of TNB, the late Tan Sri Ani Arope, a man of integrity refused to sign the agreements and he voluntarily resigned in protest.
The opposition parties took the Government to task for granting a one sided deal. They argued that it was a “crony’s agreement” and questioned the needs for the Government to grant substantial subsidy to the IPPs. Even in May 2011, one of the opposition members regarded these IPPs as “a major drug factory” that required substantial subsidy from the Government of estimated RM19 billion a year.
In the mid-2011, I was taken as a LNG Consultant to look into the possibility of importing LNG through the Malacca Regas Terminal at Sungei Udang. This terminal is an open gate similar to the one I used to do in United Kingdom - the Dragon LNG Regas Terminal located at Milford Haven in Wales. The Sungei Udang’s LNG Regas Terminal is owned by PETRONAS and the imported LNG is vaporized as gas to flow into the PGU pipelines. This is in view of the insufficient domestic gas from the East Coast of about 950 mmscfd. TNB requires about 1350 mmscfd. The capacity of Sungei Udang is about 500mmscfd or equivalent to about 40 cargoes of imported LNG via the Q Flex LNG ship of capacity 210,000 m3 each.
Actually, I am humble to note that the concept of the floating LNG storage using two of our old LNG ships with an island jetty, the first in the world was mooted by me to the CEO of PETRONAS Gas the ownership of this project. This idea came by while discussing with him in the car on the way to Narita Airport from Tokyo. With this idea, PETRONAS saved for not doing the dredging and a greenfield shore LNG storage which costs would be very substantial.
As a result of the marked disparity between imported LNG and domestic gas price, TNB who earned a thin margin from the IPPs was not able to absorb this disparity in prices and therefore was not able to buy the gas from the imported LNG directly. Ultimately, PETRONAS has to be the importer and therefore a subsidizer.
Under PM Najib, a company, My Power was formed by the Government to initiate renegotiation with the IPPs for a balanced deal. Thereafter, 1MDB purchased the IPP from Ananda in March 2012 and followed by the purchase of Genting in August 2012. Subsequently, in October 2012, Energy Commission announced the decision on the concessionaries agreement with the IPPs. As outlined in this agreement, there is no further extension of concession for the IPP owned by Ananda and also new concessions for the other three IPPs. Only new concessions are to be given to 1MDB and TNB. This new arrangement will ensure that private companies will not earn excessively at the expense of Government’s subsidy.
As a result of the mistake done since 1990s, for the past 20 years an approximate of about RM100 billion was lost by PETRONAS and TNB because of this inferior deal. Actually, credit should be given to PM Najib, Energy Commission and 1MDB for saving our country from this excessive subsidy granted to these favored companies from the earlier regime. To me credit should be given to whom it is due.
Actually, the rates of tariff for consumers for Peninsular Malaysia should be increased by July 2014 and January 2015 under the Fuel Cost Pass Through (FCPT). But it was never increase because the new revised agreement was improved and was more attractive and balanced to TNB, the final purchaser. Instead, the electricity tariff was reduced from March 2015 due to the reduction of coal prices and the reduction of tariff of these IPPs.
Under this new arrangement, TNB started to register substantial profit from 2013, 2014 and the first quarter of 2015. It records a profit of RM2.3 billion in the first 3 months of 2015. Therefore, with this revised arrangement the benefactors are:
1. TNB registers higher profit,
2. The Malaysian consumers benefit from lower tariff partly due to the reduction of oil prices.
3. PETRONAS will not have to incur higher subsidy which in the past benefit only these private companies, and
4. Consumers of electricity are the ultimate winner.
The losers are the original owners of the IPPs. And this may be the reasons why they are not happy with 1MDB and PM Najib even from the senior members of UMNO.
The issue of Tun Razak Exchange (TRX) and the purchase of land by Tabung Haji is insignificant compared with the amount saved by the revision of the agreement initiated by the present Government.
On the other side of the coin, there are allegations by the oppositions for the misused of fund by 1MDB, the role played by Jholow, the disappearance of proceeds from the Petro Saudi investment and latest the controversial sale of a piece of land of about 1.5 acres for RM188 million to Tabung Haji’s subsidiary. These issues started late last year when 1MDB was not able to raise enough fund to pay their loan installment.
The issue is now further twisted and makes it looked as though 1MDB is losing RM44 billion which is not the case. Actually, 1MDB does not lost RM44 billion. What it lost will be the substantial amount of loan repayments which they have to dig from somewhere because of the reversed operating leverage. Temporarily, their current income is not able to cover the loans and other expenses. However, given time they will be able to reverse this situation. Additionally, because of this bad publicity it is feared that Deutsche Bank may request for early settlement as 1MDB is not able to secure additional collateral. We should refrain from speculating further pending the outcome of the Auditor General's findings which will be available the latest by end June 2015.
Other personalities including the prominent lawyer and former minister, Zaid Ibrahim commented that as the Chairman of 1MDB, Najib should stand up and face this by responding to the allegations. The Chairman of CIMB, who is Najib’s younger brother, during the luncheon meeting also asserted that the Chairman of the Board and its members of 1MDB to do the same.
The significant credit due to the Government helmed by Najib to save the nation was downplayed but those temporary difficulties faced by this organisation in this process of helping the nation were exposed and blotted up by the oppositions.
The irony is that during Tun’s tenure, the oppositions were the one who were very vocal when the IPPs owners were given preferential treatment. And now they in turn are equally vocal to discredit the PM and 1MDB who have saved the country from incurring unnecessarily substantial subsidy.
But one thing for sure, the main agenda of the oppositions is to find fault and blotted the mistake or misdeed of the Government or the GLCs in order to earn mileage and swing the voters' sentiments to their side.
That is my fair view and I leave it to my esteemed readers to make their own assessments and judgments on this issue.
Thank you.
Friday, 15 May 2015
To help, or not to help? An assessment on Rationality versus Emotional, and Short term versus Long term.
To help, or not to help? An assessment on Rationality versus Emotional, and Short term versus Long term.
Zee Kin Tai
Many were perturbed by the sight and thoughts of Rohingyans drifting in international water. 400 males females children and elderly were all cramped in a boat, with limited access to food and other basic amenities.
It is only human that we felt so guilty and upset about this incident : that we abandoned them to suffer the most inhuman sufferings. This guilt later becomes a compelling force that would lead us to do two things : to help, or to get angry and yell at authorities who didn't.
The emotional appeal is very real and strong. We as human develop strong sense of empathy and sympathy as we become more civilized. We put ourselves in their shoes, and we can't imagine the kind of turmoil they are undergoing. Our inner conscience forbade us to ignore their plight for survival, the most basic instinct for mankind.
We then appeal to our authorities to do something that would soothe our discomfort and guilt. We want that immediate feeling of sad, grieve, and sympathy to simply go away. We demand that these people be given the right to land on our soil. We demand that our government provide them all the supplies they needed. Some went on to ask the government to house them in an island while working on placing them in countries that have quotas for refugees placement.
Little did we realize that all these knee jerk demands were the result and consequence our emotional short sightness. Emotional and short sightness are something that would haunt us in time of rationality and in long run.
Now, think rationally why despite their sufferings, countries like Bangladesh, Thailand, and Malaysia did not jump into the decision that many would think is "humane" to make : allow them to land.
In the past, Malaysia has been very accommodating to illegal trespassers from Myanmar. They come in small numbers : 30,40 people at a time. We secretly allow them in, some we deport, some we host them, work on getting them refugees status, so that they can proceed to another countries in the western world which have more resources to host them. This is done at the expenses of few things :-
1) floodgate
Once we decided to accommodate them, we are sending a message to other refugees across the world that as long as they come in big numbers and terrible conditions, we would inevitably host them. This does not just appeal to Rohingyans. We might be "inviting" refugees from countries suffering impoverishment like Bangladesh, Pakistan, Sri Lanka, Yemen, Cambodia, or war torn countries like Syria. They know very well that if they come in an "irresistible" condition like the Rohingyans, we have no choice but to host them. This happens to so many western countries including Australia, that they even considered a lopsided refugees "swap" deal with Malaysia just to tell them it's not OK for them to just turn up to their soil like that. Question is, are we readied to host and welcome the next batch? And the batch after, and the batch after? Or we are just going to be "kind" once?
2) from that point of view, put aside your humane emotion and think of this situation :
If we are to host this batch of Rohingyans, we are "inviting" more batches from all around the world. This is a news of international attention. When there are more coming, are we readied to welcome them in our country?
If we allow them to land, does that mean we have to semi-imprison them? If not, should we allow them to roam freely in our country? What would be the implication of that happening?
If we Do allow this batch to land, but then ban subsequent batches to land, aren't we more inhuman? (We subtly invite them to come, but then as they come we stop them from landing?)
If we don't allow this batch to land, even if it's cruel, but it's more humane to the potential future batches of thousands people, who know that they wouldn't be able to achieve what they want, and wouldn't put themselves in such dire situation. Shall we weight our humanity?
3) instead of demanding countries like our with way lesser resources to accommodate, why don't we point our fingers to resources free countries instead, ie Singapore, australia, Japan, Europe or USA? I know they have a quota already but our quota is also filled! If you don't already know that.
It is human for us to be upset by this but we must also think rationally for the long term effect on future potential refuge seekers and also our own country. We mustn't encourage more and more people to put their wives and children and siblings in these kind of situations just to gamble their luck and suffer otherwise.
Think.
Zee Kin Tai
Many were perturbed by the sight and thoughts of Rohingyans drifting in international water. 400 males females children and elderly were all cramped in a boat, with limited access to food and other basic amenities.
It is only human that we felt so guilty and upset about this incident : that we abandoned them to suffer the most inhuman sufferings. This guilt later becomes a compelling force that would lead us to do two things : to help, or to get angry and yell at authorities who didn't.
The emotional appeal is very real and strong. We as human develop strong sense of empathy and sympathy as we become more civilized. We put ourselves in their shoes, and we can't imagine the kind of turmoil they are undergoing. Our inner conscience forbade us to ignore their plight for survival, the most basic instinct for mankind.
We then appeal to our authorities to do something that would soothe our discomfort and guilt. We want that immediate feeling of sad, grieve, and sympathy to simply go away. We demand that these people be given the right to land on our soil. We demand that our government provide them all the supplies they needed. Some went on to ask the government to house them in an island while working on placing them in countries that have quotas for refugees placement.
Little did we realize that all these knee jerk demands were the result and consequence our emotional short sightness. Emotional and short sightness are something that would haunt us in time of rationality and in long run.
Now, think rationally why despite their sufferings, countries like Bangladesh, Thailand, and Malaysia did not jump into the decision that many would think is "humane" to make : allow them to land.
In the past, Malaysia has been very accommodating to illegal trespassers from Myanmar. They come in small numbers : 30,40 people at a time. We secretly allow them in, some we deport, some we host them, work on getting them refugees status, so that they can proceed to another countries in the western world which have more resources to host them. This is done at the expenses of few things :-
1) floodgate
Once we decided to accommodate them, we are sending a message to other refugees across the world that as long as they come in big numbers and terrible conditions, we would inevitably host them. This does not just appeal to Rohingyans. We might be "inviting" refugees from countries suffering impoverishment like Bangladesh, Pakistan, Sri Lanka, Yemen, Cambodia, or war torn countries like Syria. They know very well that if they come in an "irresistible" condition like the Rohingyans, we have no choice but to host them. This happens to so many western countries including Australia, that they even considered a lopsided refugees "swap" deal with Malaysia just to tell them it's not OK for them to just turn up to their soil like that. Question is, are we readied to host and welcome the next batch? And the batch after, and the batch after? Or we are just going to be "kind" once?
2) from that point of view, put aside your humane emotion and think of this situation :
If we are to host this batch of Rohingyans, we are "inviting" more batches from all around the world. This is a news of international attention. When there are more coming, are we readied to welcome them in our country?
If we allow them to land, does that mean we have to semi-imprison them? If not, should we allow them to roam freely in our country? What would be the implication of that happening?
If we Do allow this batch to land, but then ban subsequent batches to land, aren't we more inhuman? (We subtly invite them to come, but then as they come we stop them from landing?)
If we don't allow this batch to land, even if it's cruel, but it's more humane to the potential future batches of thousands people, who know that they wouldn't be able to achieve what they want, and wouldn't put themselves in such dire situation. Shall we weight our humanity?
3) instead of demanding countries like our with way lesser resources to accommodate, why don't we point our fingers to resources free countries instead, ie Singapore, australia, Japan, Europe or USA? I know they have a quota already but our quota is also filled! If you don't already know that.
It is human for us to be upset by this but we must also think rationally for the long term effect on future potential refuge seekers and also our own country. We mustn't encourage more and more people to put their wives and children and siblings in these kind of situations just to gamble their luck and suffer otherwise.
Think.
The private eyes 1976
Sam Hui: I feel... this world owes me a lot.
Michael Hui: You didn't even bring a diaper, when you were born! What does this world owe you?
Friday, 8 May 2015
24 Memorable Quotes From Disrupt NY 2015
The social media team at TechCrunch compiled a gallery of 24 memorable quotes from Disrupt New York 2015. This year’s speaker lineup featured everyone from Tom Wheeler (FCC Charmain) to Ben Rubin of Meerkat. Click through to see them all. Read More Source
Wednesday, 29 April 2015
Quote of the day
Luck doesn't make you smart. But you need to be smart to take advantage of whatever luck you get.
Malaysia public transport KTM Komuter & LRT services now markedly improved?
There is a "Good News" again from our lovely
national mainstream new paper.
Is it true what they said? How do you think?
Is it true what they said? How do you think?
Tuesday, 28 April 2015
Quote of the day
"If you look for a number, any number, and try to attach some great meaning to it, you're going to find plenty of coincidences." Morte, the talking skull
Friday, 24 April 2015
Malaysia TM GST
At 1:42 they said "ALL TM PRODUCTS & SERVICES CHARGE WILL REMAIN THE SAME". Bullshit!
Thursday, 2 April 2015
Apple new mentality trick, expensive = reliability and durability and its attractive design.
Read the article.
Wednesday, 1 April 2015
The Lee Kuan Yew Conundrum
A good write up on what awaits Singapore after LKY. Mercurial figure, but can the state hold on? Well, if they ever need any idea on what NOT to do, they only have to look at us.
Read the article
Tuesday, 17 March 2015
English Income Tax e-Filing 2014 (2015), English Mapping For e-Filing website
A lot of my colleagues are not able to proceed the e-Filling because the web site only have Malay version. So I did some copy paste and map the English word to the screen. Hope it could help them a little bit :)
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