imRaymondLee

Happy New Year 2011 To All imRaymondLee Readers.!

2010-12-31T15:09:00.000+08:00

Well this shows the end of Year 2010 and a New Year 2011 coming ahead us all & Happy Holidays to all imRaymondLee readers! Though, we all had been overcome a lot of pessimistic and optimistic events in our life but it's always eneded up with a great amazing year though out the whole year 2010.

Anyway, I would like to wish everyone "Happy Blessed New Year 2011"

PM declares Friday, 31 Dec 2010 as Malaysia Public Holiday

2010-12-31T12:26:00.000+08:00

KUALA LUMPUR: Prime Minister Datuk Seri Najib Razak has declared Friday, December 31 2010, a public holiday to commemorate Malaysia's victory in the 2010 AFF Suzuki Cup tonight.

Malaysia won 4-2 on aggregate after winning 3-0 at home and losing 2-1 to Indonesia in the second leg on Wednesday night at Bung Karno stadium in Jakarta.

The public holiday announcement was made via national news agency Bernama.

Other Source in NST: PM declares Friday a public holiday

Yeah, happy holiday for all Malaysian.. even it's holiday I'm still got some final preparation needs to be completed by today and here I am doing some preparations for year end task in my office cubicle during holiday.

Public Bank - Step Up Rates

2010-12-29T20:15:00.002+08:00

For anyone of you currently hunting for a slightly better interest in fixed deposit around the town.? Well this is the FD that you might wanted to grab the last bite out fast as the promotion only last till 31st December 2010 (Campaign period initially started from 1 June 2010).

As mentioned, the Step up rates FD promotion campaign will be slightly have a better interest compared to their normal conventional FD deposit rates with minimum new deposits of RM 10,000 you can have a new FD account for individuals. So hurry up and don't miss the last bite.

You may wanted to check out for Terms & Conditions (PDF format, 144kb) as well understanding how it's really works before proceed. >>Click Here<<

Updated on 4 Jan 2011: Looks like they are extending the promotion again till 31 January 2011, you can find it in the Terms & Conditions as mentioning the new ending period again.

"2. The Campaign will run from 1 June 2010 to 31 January 2011 ["Campaign Period"]."

Hoteliers In Sibu Downsizing To Avoid Service Tax Hike.?

2010-12-29T17:15:00.001+08:00

The Borneo Post - Hoteliers downsizing in avoidance of service tax

Posted on December 28, 2010, Tuesday

SIBU: Sibu is expected to have smaller budget hotels beginning 2011 when hoteliers decide to downsize their business to avoid increasing service tax and thereby avoid losing their business.

Chairman of Sarawak Central Region Hotel Association chairman Johnny Wong Sie Lee told the Borneo Post yesterday, this was the decision of many budget hoteliers for the sake of their customers.

He said they had received the order from the Customs and Excise Department about the hike in the service tax.

For hotels with 26 rooms or more, he said service tax would be hiked from five to six per cent. For hotels with 25 rooms or less, he said the service tax would remain at five per cent.

“Owners of budget hotels are already facing tough times in the service industry. Many have already downsized their business to cut down cost.”

With the increasing service tax, he said more hoteliers had indicated downsizing their business.

“What is the point of having bigger hotels when you have fewer customers walking in, as more will be checking into the smaller hotels?” he asked.

Wong said the number of hotels with 25 rooms or less had already increased to more than 30 in Sibu.

“With the hike in service tax, there will definitely be more budget hotels,” he stated.

In that way, he said the hoteliers would be smiling and the customers would be smiling too.

He said some budget hotels in Sibu were charging customers RM50 or more per night. For some, their room rates were cheaper than RM50, he said.

Meanwhile, Wong called on hotels affected by the increasing service tax to hike their room rates accordingly in their panel quotation for government servants. He said the Resident Office had asked for the quotation recently, and they had submitted it.

“That was when we had not received the order on the hiked service tax.”

He said his association had written to the State Secretary to inform him of the increasing room rates due to the hiked sales tax.

“Now, association members affected by the hike must add one per cent to their room rates for the civil servants and the State Secretary must be given the new panel quotation.”

Source form The Borneo Post: http://www.theborneopost.com/?p=82373

Notes: Well I don't whether it's also applies to Miri or not but it should as it is "Malaysia in whole", I had called up the local authorities to inquries regarding about this:

Royal Malaysian Customs Department (Miri Branch): They're awared that such rumors are spreading in Miri which the newspaper article was mentioning Sibu. However at the moment they cannot confirm anything to such rumors as currently they still awaiting for an official writing from the headquarters.

Government Service tax increase to 6% from 5%

2010-12-29T15:07:00.001+08:00

If you all did read my previous post regarding on Malaysia 2011 National Budget by Prime Minister Najib Razak, this is the time that all Malaysian should started to get be prepared for this coming tax hike.! So are you 6% tax ready.?

"Service tax rate will be increased from 5% to 6% with effect from 1 Jan 2011. This will impact quite a number of service industry as well as individual consumptions. This may be a temporary measure to increase government revenue while pending the implementation of Goods and Services Tax (GST). You may probably feel the effect of service tax increase, although some said marginal, in 2011 when you visit to the restaurants, or when you pay your telephone bills."

Click below to download the Malaysia Budget 2011 Speech, Appendices and Finance Bill (tax law amendments):
Budget 2011 Speech
Budget 2011 Appendices
Economic Report 2010/2011
Finance (No. 2) Bill 2010

Merry Christmas from imRaymondLee!

2010-12-29T14:18:00.001+08:00

Just a quick notice, Merry Christmas and Happy Holidays to all imRaymondLee readers! I had another amazing year with all the readers out there that enjoying this blog. Now log off the internet and spend some time with your closest friends and families in this wonderful blessed Christmas, Merry Christmas & Happy Holidays!

HALAL Brushes.?

2010-11-15T14:27:00.001+08:00

Few day ago, I've attended a small talk regarding on The concept of Halal Certification Procedures conducted by Halal Development Unit Head from Islamic Religious Department, Sarawak (JAIS) as it was required for us to understand and aware on the issue as it affected our industries.

We come to understand that even a paint brush and pastries brush was made from pig hair.. Hence, it is only allowed a nylon brush (white colour) to be used in order to comply with the Halal standard in pastries making. The black brush (red colour handle) that we offen saw in hardware store and supermarket are not allowed and been considered Non Halal. Currently, non of our domestic brush manufacturing do have a Halal certificate for brush it's due to it was never been an issue or debate for such things before.

However, currently such matter has been questioned regarding on the "Halal-ness" and soon well gets to see even a brush with have Halal certificate with it especially brush for food service production & school kids watercolour brushes in Malaysia. Some brushes production company was very intiative or should I said too fast to come out an idea too prove their products was not produce by pig hair in order to safeguard their business while waiting for Halal Certificate or they just feel comfortable with the current quote in every products they have without Halal certification.

Let me share with a picture that I managed to get which it written the quote on the one of the school kids watercolour brushes itself as "Suitable for Muslim".

"Suitable For Muslim" watercolur brush nylon series

Japanese Destroyer Shinonome

2010-11-06T10:34:00.001+08:00

While I was googling Google Maps on Miri, I notice that there's a spot which tagged "Japanese Destroyer Shinonome", to tell the truth I never knew such things was existed in Miri nor heard about any old folks brought out such story before.

I wonder is there still left any ship wreckage remains left and why it's there, it's supposed sank in the sea.. Anyone aware whether it's out there for viewing? Maybe I'll plan a trip to have a visit and look around that on the area see what can find out.

World War II history

At the time of the attack on Pearl Harbor, Shinonome was assigned to Destroyer Division 12 of Desron 3 of the IJN 1st Fleet, and had deployed from Kure Naval District to the port of Samah on Hainan Island. From 4 December to 12 December, she covered Japanese landings at Kota Bharu in Malaya.

From 16 December, Shinonome was assigned to cover Japanese landings during "Operation B", the invasion of British Borneo. The official record of her demise, however, is ambiguous. Although some Japanese sources at the time claimed that she hit a naval mine, there are no extant records of either British or Dutch mine-laying in the area.

It is generally accepted that the Shinonome was sunk by Dutch military aircraft, either (a) on 17 December 1941, after being struck by two bombs from a Dornier Do 24 flying boat X-32 of the Royal Dutch Naval Air Group GVT-7, which detonated her aft magazine, or (b) on 18 December 1941, after an attack by Martin B-10 bombers of the Royal Netherlands East Indies Army Air Force (2de Vl.G).

In either case, Shinonome exploded and sank with all hands in the vicinity of Miri, Sarawak (04°24′N 114°0′E) On 15 January 1942, Shinonome was struck from the navy list.

Shinonome wreckage
The exact position of the wreck of Shinonome remains unknown, but it likely lies somewhere between Seria, Brunei to the north, and Miri town itself. A team of wreck researchers, based in Miri and with help from the Netherlands, has been searching for the ship's remains since 2004. The team has identified several prospective sites, and is in the process of confirming them. The position, orientation and condition of the wreck will help to resolve the lingering uncertainty about the circumstances surrounding the Shinonome's demise.

(Shinonome in 1930)

Source: Wiki - Japanese destroyer Shinonome (1927)

Introduction of Miri City (Sarawak, Malaysia)

2010-11-06T09:53:00.005+08:00

Oh my gosh, I almost forgot to share the most important post to you all and it's about my hometown. So here we'll briefly include in this post about my hometown, Miri city (Sarawak, Malaysia)

(Day view of Miri City)

Miri is a city in northern Sarawak, Malaysia, on the island of Borneo. Miri is home to a population of about 300,000 people and is thus the second largest city in Sarawak. It serves as the government administrative centre of Miri District (4,707.1 square kilometers) in Miri Division of Sarawak. Miri was elevated to city status on May 20, 2005 and it is the 10th city in Malaysia (Kuching has 2 cities) and its local authority i.e. Miri City Council is the 10th city council in Malaysia.

( Coordinates: 4°23′34.74″N 113°58′49.08″E / 4.3929833, 113.9803 )

Miri is the birthplace of Sarawak's petroleum industry, which remains the major industry of the city. The first oil well was drilled by Shell in 1910, and is now a state monument and one of Miri's tourist attractions. Shell also built Malaysia's first oil refinery in Lutong, a suburb of Miri in 1914. Recently, vast oil reserves were discovered just offshore northeast of the city. Miri has grown phenomenally since oil was first discovered in the early 1900's, burgeoning into the modern and dynamic business, commercial and educational centre it is today.

The city's other major industries include processed timber, oil palm production, and tourism. The world famous Gunung Mulu National Park with the Sarawak chamber, a half an hour flight from the city, is one of the favourite eco-tourism destinations. Miri is also the main tourist gateway for the Loagan Bunut National Park, Lambir National Park and the Niah Caves at the Niah Caves National Park. Miri is lately known for its exotic coral reefs as well.

(Night view of Miri City from Canada Hill)

Let's Wiki for more info on Miri & Travelling Info: Wikitravel

Malaysia 2011 National Budget by Prime Minister Najib Razak

2010-10-27T23:30:00.002+08:00

For those of you had missed out the highlights of the Malaysia 2011 National Budget, here's the recap of the following are the highlights of 2011 Budget tabled by Prime Minister Datuk Seri Najib Tun Razak, who is also Finance Minister, at the Dewan Rakyat on 15th Oct 2010.

The following are the salient points in Prime Minister Najib Razak’s 2011 Budget speech. The 2011 Budget is Najib’s second since taking over as Prime Minister in 2009.

Total Budget, 2011 – RM212 billion, 2.8% higher than the 2010 Budget

Operating Expenditure – RM162.8 billion

Development expenditure – RM49.2 billion

2010 growth is revised to seven percent from the previous six percent, fueled by private investment growth (15.2%), private consumption (6.7%) and exports (11.6%).

2011 growth is expected to hover between five to six percent supported by private investment (10.2%), private consumption (6.3%) and exports (6.7%)

2011 per capita income is expected to go up 6.1% to RM28,000, while income in terms of purchasing power parity will hit US$16,000, tempered by moderate inflation (2-3%) and low unemployment (3.5%).

Budget deficit is expected to go down to 5.4% of GDP, compared to 2010 figure of 5.6%.

Federal Government revenue is estimated to increase by 2.3 percent to RM165.8 billion in 2011, compared to RM161.1 billion in 2010.

Private investment is expected to expand 12.5% to RM86 billion.

Emphasis on Public-Private Partnership (PPP) projects

RM12.5 billion worth of public private partnerships (PPP) will be implemented under budget 2011, with a RM1 billion facilitation fund from the government.

The Mass Rapid Transit project is to be implemented beginning 2011 with a private investment of RM40 billion and is targetted to complete by 2020.

The Academic Medical Centre, a joint-venture between Academic Medical Centre Sdn Bhd and John Hopkins Medical International as well as Royal College of Surgeons, Ireland, that will involve private investment of RM2 billion.

Development of an International Islamic University Teaching Hospital in Kuantan and a Women and Children’s Hospital

The construction of a 300MW combined-cycle gas power plant in Kimanis, Sabah.

The construction of highways such as the Ampang-Cheras-Pandan Elevated Highway.

RM5 Billion New Tower in KL

A new landmark, the Warisan Merdeka, to be developed by Permodalan Nasional Berhad (PNB), is expected to be completed in 2020 and will include a 100-storey tower, the tallest in Malaysia, which is to be completed by 2015.

It will stand on land adjacent to Stadium Merdeka and Stadium Negara. Both stadiums are to be retained as national heritage sites.

EPF to fund Sungai Buloh Development

Development of the Malaysian Rubber Board land in Sungai Buloh covering an area of 2,680 acres will be funded by EPF with RM10 billion over 15 years.

EPF overseas investments will be increased from seven percent to 20 percent of total assets managed.

Investments

GLICs (government-linked investment companies) will divest shares in major companies listed on Bursa Malaysia to increase liquidity and trading velocity.

An International Board will be added onto Bursa Malaysia to increase foreign investment, especially to promote syariah-compliant products.

The Bumiputera Property Trust Foundation will be launched to enhance bumiputera ownership of prime commercial properties in urban areas.

Corridor projects not forgotten

Corridor and regional development will be accelerated with an injection of RM850 million.

RM93 million will be allocated for Sarawak Corridor of Renewable Energy.

RM133 million for Northern Corridor Economic Region.

RM178 million for projects in East Coast Economic Region.

RM339 million for Iskandar Malaysia in Johor.

New Private Pension Fund

To revitalise capital market activities, the government will launch a Private Pension Fund in 2011.

The existing income tax relief of up to RM6,000 for employees’ contributions to EPF will extend to Private Pension Fund contributions.

Funds to help businesses

A RM146 million fund will be set up to support the oil, gas and energy industry.

RM857 million will be allocated for local E&E (electrical and electronic) companies to compete at the international level.

To help entrepreneurs that face financial problems, the Insolvency Act will be consolidated with the Bankruptcy Act 1967 and Part 10 of the Companies Act 1965, including the introduction of a provision relating to a relief mechanism for companies and individuals with financial problems. A review will also look to amend the current minimum bankruptcy limit of RM30,000.

Tourism

RM100 million will be allocated to support the tourism industry.

RM50 million to construct several shaded walkways in the Bukit Bintang-KLCC vicinity.

A RM3 billion eco-nature resort Nexus Karambunai in Sabah will commence in 2011.

RM85 million will facilitate construction of hotels and resorts in remote areas.

IT Development

The Multimedia Development Corridor programme will be allocated RM119 million. Focus will be on creating an innovative digital economy.

Import duty and sales tax exemption on broadband equipment will be extended for two years until 2012.

Minimum Wage

A National Wage Consultation Council will be set up to determine the rate and mechanism of minimum wage for various sectors.

The basic minimum wage for security guards is to go up to between RM500 and RM700 depending on location, compared to RM300 to RM400 previously.

Fully-paid maternity leave for civil servants is to increase to 90 days compared to the previous 60 day.

Levy on foreign workers is to increase in stages according to sector. Health insurance for foreign workers is now mandatory.

Training

The Talent Corporation is to be set up under the Prime Minister Office in early 2011, that will formulate the National Talent Blueprint.

A target to increase PhD-qualified academic staff to 75% in research units and 60% in other public institutions of higher learning.

The 1Malaysia Training Programme will be launched in January 2011 with an allocation of RM500 million.

Sabah and Sarawak

RM2.1 billion will be allocated to upgrade rural roads in Sabah and Sarawak, compared to RM696 million for Peninsula (Semenanjung) Malaysia.

RM1.5 billion will be allocated to develop rural electricity and water supply in Sabah, with RM1.2 billion for Sarawak and RM556 million for Semenanjung Malaysia.

Allocation for Ministries

RM15.86 billion will be allocated for the Prime Minister’s Department. The allocation was RM14 billion in 2009 and RM12 billion in 2010.

RM29.3 billion for Education Ministry.

RM10.2 billion for Higher Education Ministry.

RM1.2 billion for Women, Family and Community Development Ministry.

RM627 million for Human Resources Ministry.

RM111 million for Permata (Pusat Anak Permata Negara).

Other salient points

The scheduled hike in toll charges for four highways owned by Plus Expressways Bhd will be frozen for the next five years.

A RM500 Special Financial Assistance for Civil servants Grade 54 and below, including contract officers and retirees. Payment will be made in December 2010.

Maximum housing loan eligibility for civil servants will increase to RM450,000 from RM360,000.

First-time homeowners will enjoy a 50 percent discount on stamp duties for homes below RM350,000.

Young adults of household incomes under RM3,000 will be assisted through a first-home owner scheme where the government will guarantee a 10% down payment for homes below RM220,000. This means that house buyers will obtain a 100% loan without having to pay the 10% down payment.

Malaysian permanent estate workers will get a maximum RM60,000 housing loan to buy low-cost houses at four percent interest rate, with a repayment period of 40 years extending into the second generation.

Sales tax for mobile phones will be reduced by 10 percent.

RM350 million will be allocated to boost efforts to cut down the crime index, and establish 25 special courts to expedite prosecution.

Full import and excise duties exemption granted to franchise holders of hybrid cars will be extended to Dec 31, 2011. It extends also to electric cars and hybrid and electric motorcycles.

Import duty on approximately 300 goods preferred by tourists and locals, currently at 5% to 30%, will be abolished.

Service tax will be increased from 5% to 6%. The government proposes to impose service tax on paid television broadcast services.

The excise duty exemption on national vehicles purchased by the disabled will go up to 100 percent from 50 percent previously.

RM200 million will be allocated for the Distribution of Essential Goods programme, on top of the RM100 million allocation under budget 2010, to standardise prices nationwide for goods such as rice, cooking oil, sugar, flour, gas, petrol and diesel.

375 native English speakers is to be recruited from United Kingdom and Australia to improve the teaching of English.
Monthly allowance of community leaders (JKKK, village heads, Tok Batin, etc.) is to be increased to RM800 from RM450. Meeting attendance allowance is also increased from RM30 to RM50.
Imams’ allowance will be increased from RM450 to RM750, KAFA (religious school) teachers’ allowance also goes up to RM800 from RM500.
RM1.9 billion will be allocated for environmental projects, including for the River of Life programme and the greening of Kuala Lumpur.

A points system is to be introduced to facilitate permanent resident status applications, and applications can be made after five years of residence compared to 10 years previously.

Text of 2011 Budget speech

Comment: The government rolled out a 2011 budget that skipped structural reforms demanded by investors and relied on infrastructure spending and raising incomes to fuel economic growth ahead of polls expected next year.

Prime Minister Najib Razak presented a budget plan that targets a 2.8 percent rise in spending and aims to shrink the deficit to 5.4 percent of gross domestic product next year from 5.6 percent this year thanks to sustained strong growth.

According to the plan, Southeast Asia’s third-largest economy is expected to grow 5-6 percent in 2011 after a 7 percent expansion this year and a 1.7 percent contraction in 2009.

“The trend of external trade is increasingly challenging, while there is heightened competition to attract foreign investment,” Najib told parliament.

“To rise to these challenges, the private sector must be dynamic, creative and innovative to drive economic growth.”

Malaysia need to reverse a sharp decline in foreign direct investment, which fell 81 percent to RM4.43 billion in 2009 from RM23.47 billion in 2008. Neighbouring Southeast Asian economies including Singapore, Thailand and Indonesia have outshone Malaysia with much higher inflows.

But analysts said the budget was more likely to please voters than investors.The plan raised the service tax to 6 percent from 5 percent, but sweetened it with a slew of measures targetting consumers, such as a five-year freeze on highway tolls, tax waivers on mobile phones and designer goods and stamp duty discounts for first-time home owners.

However, the RM212 billion spending plan was set to disappoint investors frustrated with lack of progress in reforms of Malaysia’s subsidies and its race-based policies, analysts said.

“A majority of the big foreign investors will be unhappy with the budget if he doesn’t give them anything in terms of real money,” said James Chin, a professor at Monash University in Kuala Lumpur.

Najib Needs Clear Mandate

Najib needs strong economic growth to secure a clear mandate from voters to push through reforms considered crucial to win back foreign investors who increasingly skip Malaysia and head to other Southeast Asian economies.

Malaysia’s private investment grew only 2 percent on average between 2006-2010, and was expected to be 10.8 percent of GDP this year, rising to 11.3 percent of GDP next year.

The government set aside RM2.1 billion to develop rural roads and RM2.7 billion to supply water and electricity in Sabah and Sarawak, ahead of upcoming state elections in Sarawak.

A general election is not due until 2013 but some analysts expect Najib to call for snap polls as early as late 2011 to capitalise on recent strong economic performance and high approval ratings.

The government’s plan assumed a 5 percent cut in its subsidy bill next year, but was light on details on how it would achieve what analysts say is crucial to improve Malaysia’s economic competitiveness.

Malaysia subsidises items ranging from fuel to flour and sugar and subsidy costs would total RM23.7 billion or 4 percent of GDP next year, down from 4.6 percent of GDP this year.

“We are not dreamers. We are realists,” Najib told parliament. “We want to build a nation where every person will be able to enjoy the benefits of development.”

Source: www.malaysiakini.com (October 15, 2010)

Online Financial Calculator

2010-10-27T22:04:00.002+08:00

I found out that this online Financial Calculator was very interesting in Wealth accumulation Plan which consist of the following method of calculations:

Wealth Accumulation Plan
1. How much can I accumulate if I start investing now?
2. How much should I invest now in order to accumulate the wealth I desired after my retirement?
3. What is the required rate of return in order to achieve my investment objective?

Retirement Plan
1. Given that I start investing now, how much can I withdraw per month from my accumulated investment value once I retire?
2. Given that I start investing now, how much would be my residual investment value if I withdraw monthly from my accumulated investment value once I retire?
3. How much should I invest for my retirement plan?

Go ahead, give it a click at the below button and see it for yourself then you might start planning ahead for your financial budget.

Currency Converter

2010-10-27T21:11:00.007+08:00

Below you can choose the default currency that you'd like to convert your currency with this converter. You still have the option to choose any other countries currencies to convert with.

Loan Calculator

2010-10-27T20:51:00.001+08:00

Well if you worried on your budget and interest served and pay in the end of the time, then you should try this calculator.

Welcome to imRaymondLee

2010-10-27T15:17:00.000+08:00

Welcome all to imRaymondLee, as you all can see this is my newly published personal blog and from time to time I'll to publish various of news and info to you all. Stay tuned for more update, 1 Malaysia welcomes you lol..

Hello Everyone Out There ¸¸.•¨•♫♪

2010-10-26T00:19:00.003+08:00

This site still under constructions at the moment, Please bare with us for more exciting things coming up, see you again soon..!
¸¸.•*¨*•♫♪

Enter Loan Information:
1)	Amount of the loan (any currency):
2)	Annual percentage rate of interest:
3)	Repayment period in years:

Payment Information:
4)	Your monthly payment will be:
5)	Your total payment will be:
6)	Your total interest payments will be: