Power Blog

2013 World Top 10 Billionaires by Forbes

noreply@blogger.com (Benson) — Mon, 04 Mar 2013 07:35:52 PST

This year Forbes has uncovered a record 1,426 billionaires. That is 200 more than we found in 2012, another record breaking year. It’s also nearly ten times as many as Forbes pinned down in 1987, the year we began tracking fortunes around the world.

Among the notable newcomers were founders of some of the world’s hottest brands – such as Dolce & Gabbana, Tory Burch and Chobani yogurt, as well as the first ever billionaires from Angola, Guernsey, Nepal, Swaziland and Vietnam.

No. 1 Carlos Slim Helu & family

(Victor Chavez/WireImage)Net Worth: $73 billion (UP)
Source: telecom
Citizenship: Mexico

— World's richest man for the fourth year in a row.

— Net worth up $4 billion versus 2012 but still $1 billion shy of his all-time record; boost came from surging stock prices at his financial arm, Grupo Financiero Inbursa, and at his Grupo Carso industrial and retail giant.

— Pan-Latin American mobile telecom outfit America Movil remains his most valuable holding at $36.3 billion; the company spread its wings to Europe in the past year, buying pieces of Dutch telecom company KPN and Telekom Austria.

— Bought a majority of struggling Spanish soccer team Real Oviedo.

— Latin America’s most generous person, his foundation pledged to translate into Spanish 1,000 videos from the Khan Academy education nonprofit website. Slim also hosted Bill Gates in late February; the two men announced they are funding research to improve farmers' yields and reduce hunger.

No. 2 Bill Gates

(Sean Gallup/Getty Images)Net worth: $67 billion (UP)
Source: Microsoft
Citizenship: U.S.A

— World's biggest philanthropist has given away $28 billion, the vast majority of it to his foundation, which is working to eradicate such diseases as polio and malaria.

— Net worth is up by $6 billion vs. March 2012 due to gains in his investment portfolio. Holdings include tech hygiene firm Ecolab and Mexican Coke bottler FEMSA, both up more than 20% in the past year.

— Microsoft stock -- he owns about 5% of the company -- accounts for just 18% of his net worth.

— In February the first 12 non-Americans joined Bill Gates’ and Warren Buffett’s Giving Pledge, in which the ultra-wealthy pledge to give away at least half their net worth to charity. New pledgers include Richard Branson of the U.K. and India’s Azim Premji.

— Gates recently said the only thing left on his bucket list was, "Don't die."

No. 3 Amancio Ortega

(Pascal Le Segretain)Net worth: $57 billion (UP)
Source: Zara
Citizenship: Spain

— Year’s biggest gainer: fortune up $19.5 billion.

— Moves to number 3, up from number 5 richest last year. Now ahead of Warren Buffett.

— Driving the jump is a more than 50% rise in value of Inditex shares; Ortega, who stepped down as the firm’s chairman in 2011, still owns nearly 60% of the shares.

— He also has real estate portfolio, estimated to be worth more than $4 billion, that includes iconic Torre Picasso, a 43-story skyscraper in Madrid (Google is a tenant), plus properties in Madrid, London, Chicago, San Francisco and New York.

No. 4 Warren Buffett

(Michael Prince)Net worth: $53.5 billion (UP)
Source: Berkshire Hathaway
Citizenship: U.S.A.

— Year’s second biggest gainer added $9.5 billion to his fortune as Berkshire Hathaway shares rose 26% year over year.

— First time he’s not among top 3 richest since 2000.

— Investors applaud his dealmaking savvy, and this year was no exception as he made a couple of notable moves: in February, announced a deal with Brazilian billionaire Jorge Paulo Lemann's 3G Capital to snap up iconic ketchup producer H.J. Heinz Co. for $23.2 billion; bought Oriental Trading in November 2012.

— World’s second most generous person, he gave $1.5 billion to the Gates Foundation in July 2012, bringing his lifetime giving to nearly $17.3 billion. On his birthday in August 2012 Buffett pledged $3 billion of stock to his children's foundations.

No. 5 Larry Ellison

(Tony Avelar/Bloomberg via Getty Images)Net worth: $43 billion (UP)
Source: Oracle
Citizenship: U.S.A.

— Software mogul is $7 billion richer than a year ago, thanks to more than 20% jump in the value of Oracle stock.

— In June he bought 98% of Hawaiian island of Lanai from billionaire David Murdock for a reported $500 million.

— Just recently bought Island Air, a Hawaiian airline. Purchase price was not disclosed.

— Continues to buy property in Malibu.

— Gearing up for the America’s Cup yacht races in San Francisco later in 2013.

— Supports the Ellison Medical Foundation, which does research on aging and age-related diseases. Gave $45 million worth of Oracle shares to the foundation in April 2012.

No. 6 Charles Koch | No. 6 David Koch

David H. Koch (Astrid Stawiarz/Getty Images)Net worth: $34 billion (UP)
Source: diversified
Citizenship: U.S.A.

— World’s richest siblings added $9 billion apiece to their fortunes over the past year.

— They own a combined 84% of Koch Industries, country’s second largest private company with $115 billion in estimated sales, up 15% in the past year.

— Also got boost from improving operations at Georgia Pacific, maker of Angel Soft and Quilted Northern toilet paper, Brawny paper towels, and Dixie cups. Sold more than $1 billion worth of toilet paper in 2011.

— David, who runs the chemical technology side of Koch Industries, is the richest New Yorker.

— Things didn’t go so well on the political front as brothers failed in their quest to unseat Barack Obama from the White House ("Bitterly disappointing," he told Forbes in an interview after the election).

No. 8 Li Ka-shing

(Chinafotopress/Lv Xiaowei/ZUMApress/Newscom)Net worth: $31 million (UP)
Source: diversified
Citizenship: Hong Kong

— Once again Asia’s richest person and the only one from the region among the world’s top 20 richest.

— His fortune jumped $5.5 billion to $31 billion, as shares of his biggest holdings, Cheung Kong, Hutchison Whampoa and Husky Energy, all rose more than 10%. He also received 2012 dividends of $860 million.

— Li's businesses employ 260,000 people around the world in 52 countries.

— Li-controlled companies bought British gas supplier Wales & West Utilities for $1 billion in October; his third utilities acquisition in the U.K. in 24 months. He now supplies gas to a quarter of all Brits.

— Investor in such tech outfits as Facebook, Spotify, and social TV platform Stevie.

No. 9 Liliane Bettencourt

(AP Photo/Thibault Camus)Net worth: $30 billion (UP)
Source: L’Oreal
Citizenship: France

— Heiress to L’Oreal cosmetics fortune jumps to 9th richest in 2013 from 15th richest last year, thanks to a more than 30% rise in the price of L’Oreal stock. Her net worth is $6 billion higher than a year ago.

— Now the world’s richest woman. She last cracked the top 10 in 1999.

— Her father founded L’Oreal. Bettencourt and her family own more than 30% of the company.

— Bettencourt’s assets were placed under the guardianship of her daughter in 2011 after a three-year legal battle. Bettencourt, widowed and age 90, suffers from dementia. Her grandson, Jean-Victor Meyers, took her spot on the L’Oreal board in February 2012.

No. 10 Bernard Arnault

(Paul Andrew Hawthorne/WireImage)Net worth: $29 billion (DOWN)
Source: LVMH
Citizenship: France

— Falls from no. 4 in world to no. 10 due to more information about his ownership stake.

— Also a factor: Forbes now values his direct stake in Christian Dior, which in turn has a 41% stake in LVMH and trades at a near 20% discount to the underlying shares; previously we had valued the shares in LVMH.

— LVMH shares rose more than 6%; U.S. sales grew at a faster rate than sales in Asia region in the fourth quarter.

— Arnault denied reports that his request for Belgian citizenship last year was related to the country’s tax policies.

— It was announced in October that he will be knighted for his services in the U.K.

Source: Yahoo.com

How to Improve Your Financial Stamina

noreply@blogger.com (Benson) — Mon, 04 Mar 2013 03:33:14 PST

Teacher: “I’m sorry but I think you’re in the wrong course. Please tell your owner I have no idea how to make you lay golden eggs more regularly.”

Imagine that you are retired. But are you aware that you may retire for as long as 30 years, especially since life expectancy keeps going up? So before you retire, you are working hard to earn as much money as you can, but time is running out. What else can you do to build your financial stamina in order to last the long haul?

SAVINGS ADD UP: No matter how much you earn, save a little of it. Start as little as 5% and keep moving up. No one is too broke to save because it is a matter of your mind-set and nothing is too difficult to trim.

Make this a real effort for the first 10 years of your money making life because doing this early makes “time” and “returns” your financial buddies.

If you put in RM1,000 every month when you are 25 until 55 at a return of 8% per annum, you will accumulate a whopping RM1.4mil. Delaying this 10 years later, you need to double the effort to setting aside RM2,500 each month to get to the same finish line.

SPENDING WITH THOUGHT: Know the difference between wants and needs. Always ask yourself, “Do I really need this?” Giving up an expensive car now may mean that you have an extra half a million in your pocket 20 years later. Also, take note of the true cost of owning something because maintaining the item bumps up the cost. An example will be an expensive membership with a high annual fee requirement.

STAY AWAY FROM BAD DEBT: Credit card debt of 18% p.a. is going to double your debt in four years. A debt of RM40,000 will take 10 years and seven months to clear if only the minimum was paid and a total of RM16,912 in interests. Imagine what you can do with the interests instead − a holiday for two, a deposit for a new car, a start-up capital for a business or simply an injection into your retirement portfolio.

Will you finish the financial race with a medal? Strengthen your financial stamina with these three simple financial habits. Think about it.

Top 13 Richest Men In Malaysia 2013 by Forbes

noreply@blogger.com (Benson) — Fri, 01 Mar 2013 08:45:45 PST

PETALING JAYA: Brothers Datuk Seri Shahril Shamsuddin and Datuk Shahriman Shamsuddin of Sapura Group are now billionaires with a net worth of RM3.24bil (US$1.05bil).

They are among Malaysia's 14 billionaires, up from 11 last year in Forbes Malaysia's 50 Richest list.

The brothers entered the billionaire ranks after a RM11.43bil (US$3.7bil) merger of Sapura Crest Sdn Bhd with Kencana Petro-leum Bhd.

Also making his debut into the list of billionaires at No 11 is Tan Chong Motor Holdings Bhd executive deputy chairman and group managing director Datuk Tan Heng Chew with a net worth of RM3.7bil (US$1.2bil).

According to Forbes, there are nine new entrants to Malaysia's 50 Richest.

Forbes expanded its list of wealthiest Malaysians to 50 from 40 in previous years, with a minimum net worth of RM448.20mil (US$145mil) to qualify.

The youngest newcomer at No 28 is Loh Kian Chong, 36, of Oriental Holdings Berhad. He is the grandson of the late Tan Sri Loh Boon Siew.

Forbes said that even with the impending general election, the Kuala Lumpur Compo-site Index has moved up by 4% over the past year, and gross domestic product rose by 6.4%.

“As such, 23 members of the list saw their wealth increase with 14 others suffering losses,” it said.

The list is still led by business tycoon Robert Kuok, 89, who has kept the position for eight years in a row. His current net worth is RM38.63bil (US$12.5bil).

In second place is telecommunications magnate T. Ananda Krishnan, 74, who is worth RM36.16bil (US$11.7bil), up from RM30.61bil (US$9.9bil) last year.

Tan Sri Syed Mokhtar Al-Bukhary, 59, dropped one spot to No 8 with a net worth of RM8.49bil (US$2.75bil).

Forbes said the list was compiled from information obtained from individuals, stock exchanges, public documents and analysts.

Privately held wealth was estimated using financial statements available through the Companies Commission of Malaysia.

Source: The Star

Import duties on cars from Japan to be reduced to 0% by 2016

noreply@blogger.com (Benson) — Thu, 28 Feb 2013 07:39:54 PST

KUALA LUMPUR: The import duties on cars from Japan will be reduced to 0% by 2016, says International Trade and Industry Minister Datuk Seri Mustapa Mohamed.

He said on Thursday that the import duties would be reduced to 15% in 2013, 10% in 2014 and to 5% in 2015.

On excise duties, he said the government was conducting a research on it. However, he said if this was implemented, it would be carried out gradually.

At a media conference, he said that prices of new cars had started to decline since the beginning of 2012 by about 3% to 5% for some models.

Mustapa said the government had been working with car companies to get them to voluntarily reduce car prices and this has seen the introduction of special rebates for some models since October 2012.

He said the reduction in car prices was due to measures taken by the government to make the industry more efficient and competitive, citing the implementation of the Asean Free Trade Agreement.

“Further reduction in prices will be realized with the liberalization of the automotive industry through other FTAs implementations which will come into force in 2016,” he said.

He added the industry employs 100,000 people directly and 70,000 people indirectly.

The resale and second-hand market employs about 100,000 people. He added that 60% of new buyers depend on the resale value of the existing care to make their next purchase.

As for tax revenue, he said RM7bil was generated from car taxes and this revenue helps the government to subsidise the cost of fuels and other amenities.

Source: The Star

Top 10 America's Richest Cities in 2013

noreply@blogger.com (Benson) — Tue, 26 Feb 2013 15:45:55 PST

Real estate is all about location, location, location -- especially when you're wealthy. After all, when you can afford to live anywhere you want, you won't settle for anything less than perfection.

Recently released census data suggests which cities have the greatest appeal for rich people. These metropolitan areas have the highest percentage of households with high income (defined as income levels in the top 5 percent of national income distribution). That represents an annual household income of at least $191,469.

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10. Napa, Calif.

Listed at $1,187,500 (TRULIA.COM)Percentage of households with high income: 9.3 percent

Known for its wine country, Napa is a haven for wealthy Americans. Beautiful weather, great golfing and high-end restaurants are some of the perks of living here, but they don't come cheap. The average listing price for a home in Napa is $1.2 million -- and that doesn't include vineyards.

This craftsman-style ranch house is listed at $1,187,500 and boasts four bedrooms, three bathrooms and a stable on the property.

9. Boulder, Colo.

Listed at $850,000 (TRULIA.COM)Percentage of households with high income: 9.4 percent

Boulder is home to the University of Colorado, but it's more than just a college town. It's located at the base of the Rocky Mountain foothills, so locals have plenty of opportunity to enjoy the more than 300 days of sunshine a year.

The average listing price for a home here is $847,221. This home, listed at $850,000, features 2 bedrooms, high ceilings and views of the foothills.

8. Boston

Listed at $1.05 million (TRULIA.COM)Percentage of households with high income: 9.7 percent

The Boston metropolitan area (Boston-Cambridge-Quincy, Mass.-N.H.) has been home to some of the most influential -- and affluent -- people in history, including John F. Kennedy and Julia Child.

Prices in the area vary greatly depending on where you're looking, but the average listing price in Boston is $1.04 million. This two-bedroom, three-bathroom townhouse, listed at $1.05 million, was built in 1892 and is located on Boston's famous Commonwealth Avenue.

7. Thousand Oaks, Calif.

Listed at $1.7 million (TRULIA.COM)Percentage of households with high income: 9.7 percent

The Oxnard-Thousand Oaks-Ventura, Calif., metro area is home to some of the nation's wealthiest households. Located about 40 miles northwest of L.A., locals enjoy golfing on some of the nation's best courses, theater at the local Civic Arts Plaza and backpacking in the nearby Santa Monica Mountains National Recreation Area.

The average listing price for a home in Thousand Oaks is $1.8 million, but there are "deals" to be had. This five-bedroom, five-bathroom home spans more than 4,000 square feet, features an eight-car garage and is listed at $1.7 million.

6. New York

Listed at $2.295 million (TRULIA.COM)Percentage of households with high income: 10 percent

The New York metro area, which includes northern New Jersey and Long Island as well as parts of Pennsylvania, is one of the most expensive in the U.S. At the center of it all is New York, a world economic center where residents can enjoy world-class dining, nightlife and theater.

Living in NYC proper is expensive, with the average listing price hovering around $2.35 million. And you won't be getting a massive estate at that price -- for $2.295 million you can make this 17th-floor, four-bedroom, four-bathroom co-op home.

5. Trenton, N.J.

Listed at $149,900 (TRULIA.COM)Percentage of households with high income: 11.6 percent

The Trenton-Ewing metro area is full of history, famous for the Revolutionary war battle that took place in Trenton in December of 1776.

Home prices vary in the metro area, but the average listing price in Trenton is $145,294. Listed at $149,900, this three-bedroom, one-bathroom ranch home features a fenced-in yard and plenty of living space.

4. San Francisco
Listed at $1.45 million (TRULIA.COM)Percentage of households with high income: 13 percent

The San Francisco metro area (San Francisco-Oakland-Fremont) is one of the priciest in the nation. Its diverse population, numerous cultural attractions and pleasant weather make it a hot spot for wealthy residents from all walks of life.

Housing doesn't come cheap in San Francisco, where the average listing price is $1.44 million. With space at a premium, even a few million dollars won't get you multiple bedrooms. This one-bedroom, two-bathroom loft spans 1,629 square feet and is listed for sale at $1.45 million.

3. Washington, D.C.

Listed at $895,000 (TRULIA.COM)Percentage of households with high income: 14.1 percent

With its high density of wheeler dealers, it's no surprise that D.C. is one of the wealthiest -- and poorest -- in the nation.

The average listing price for a home in the D.C. metro area, which includes neighboring areas in Virginia, Maryland and West Virginia, is $889,996. This D.C. condo is listed for $895,000 and features two bedrooms, two baths and plenty of history -- it was built in 1888.

2. San Jose

Listed at $634,000 (TRULIA.COM)Percentage of households with high income: 15.9 percent

Located in the heart of Silicon Valley, San Jose is one of the wealthiest areas in California. The metro area (San Jose-Sunnyvale-Santa Clara) is home to many major technology companies and startups.

Home prices vary, but they're generally steep. In San Jose, the average listing price is $632,630, but you can get more for your money than some of the other cities on this list. This three-bedroom, two-bathroom single-family home is listed at $634,000 and spans 1,239 square feet.

1. Stamford, Conn.

Listed at $730,000 (TRULIA.COM)Percentage of households with high income: 17.9 percent

Once a modest colony of Puritan settlers, the Stamford metro area (Bridgeport-Stamford-Norwalk) is now the wealthiest in the nation. The cost of living is more than 60 percent above the national average, and the area has come a long way from its humble beginnings.

The average listing price in Stamford is $728,603 -- expensive, but not bad for the nation's richest city. This four-bedroom, three-bathroom colonial is listed for $730,000 and features a modern kitchen, fireplace and more than 2,200 square feet of living space.

Source: Yahoo.com

EPF declares 6.15% dividend for 2012

noreply@blogger.com (Benson) — Sat, 16 Feb 2013 23:56:44 PST

KUALA LUMPUR: The Employees Provident Fund (EPF) declared a dividend rate of 6.15 percent for the financial year ended Dec 31, 2012.

The dividend rate, an increase of 15 basis points over the 6 percent rate paid out in 2011, translates to a record breaking total of RM27.45bil being distributed to its members, an increase of 12.2 percent over RM24.47bil paid out in the previous year, said EPF Chairman Tan Sri Samsudin Osman on Sunday.

“Notwithstanding the increasingly complex investment environment, the EPF maintained its steady upwards momentum to post its strongest set of results since the turn of the millennium, underpinning the effectiveness of its long term investment strategy as well as its disciplined and prudent approach,” he said in a press statement.

In 2012, the EPF posted its highest gross investment income to date of RM31.02bil, up 13.91 percent from 2011.

The highest ever dividend payout of RM27.45bil was derived after deducting investment expenses, operating expenditures, statutory charges and net impairment allowance on financial assets.

“The EPF's main objective is the protection of members' capital by generating a return that beats the rate of inflation.

"We continue to fulfil this commitment year on year through our Strategic Asset Allocation (SAA) which seeks consistent returns in the long term within tolerable risk limits for each asset class,” said Samsudin.

The bulk of the fund's investment assets continue to be in stable and traditional low risk fixed income instruments.

Equities made up 38.77 percent of total investment assets for the year, while the remaining 3.59 percent and 2.42 percent were allocated for Money Market Instruments and Real Estate and Infrastructure asset classes, respectively, he said.

“Despite being a diversified fund predominantly invested in low risk fixed income instruments, EPF's annual return on investment (ROI) has topped 6 percent for the third year running.

“Equities generated a double digit ROI of 10.06 percent while returns from fixed income instruments exceeded 5.5 per cent in spite of the current low interest rate conditions,” he said.

Due to a number of one-off capital market transactions undertaken during 2012, Loans and Bonds showed the highest increase in year-on-year income with investment in this asset class contributing RM9.68bil to gross investment income, up 33.62 per cent or RM2.44bil compared to 2011.

“In view of the prevailing low interest rate environment, the EPF has gradually decreased its exposure in traditional and conventional fixed income assets and has shifted maturing assets into higher yielding assets in the form of equities and real estate but within the tolerable risk limits,” said Samsudin.

On the back of a steady growth seen in both domestic and global equity markets in 2012, Equities contributed RM13.91bil in income representing 44.84 percent of gross investment income.

Meanwhile, investments in Malaysian Government Securities and Equivalents, Real Estate and Infrastructure and Money Market Instruments earned RM6.26bil, RM595.63mil and RM574.91mil respectively.

EPF total investment assets as at Dec 31, 2012 stood at RM526.75bil surpassing the half a trillion mark, up 12.31 percent from RM469.04bil recorded in the previous year.

This increase was largely contributed by the positive net annual contributions from members and employers as well as consistent and encouraging investment performance across all asset classes, the statement said.

As a result of the increase in membership base, the EPF requires RM4.46bil to pay every one percent dividend rate for 2012.

This represents a 9.34 percent increase over RM4.08bil paid for every one percent dividend rate for 2011.

The amount needed to pay a one percent dividend rate will continue to rise 8 to 9 percent annually, the statement said.

One of the notable transactions in 2012 was the fund's expansion of its property investments, both overseas and locally, which included the Battersea Power Station project in London, United Kingdom, and the finalising of the purchase of 932ha of Rubber Research Institute land in Sungai Buloh for RM2.28bil to be developed into a new township.

In line with its diversification strategy to optimise members' long term returns, EPF total overseas exposure as at Dec 31, constituted 15.7 percent of its total investment assets.

During the year, an additional USD7.10bil of investments were made in global equities, global bonds and real estate, the statement said.

“With more than half a trillion of funds under management, the EPF faces a profound challenge to deliver continuously strong returns amid the low interest rate environment, the continued fragility of the global economy as well as constraints within the domestic capital market.

“Nevertheless as a retirement fund, we will continue to be guided by our long term investment objectives and prudent investment strategy to ensure sustainability and consistent returns in the interest of our members' retirement well-being,” said Samsudin.

Members may check their EPF Account Statement for the crediting of the 2012 dividend, either through EPF Kiosks, counters or i-Akaun, from Monday, Feb 18, 2013.

Members aged 55 and above may withdraw the annual dividend credited into their account as one of several payment options available under the Age 55 Withdrawal.

For more information on this withdrawal, please contact EPF Call Centre at 03 8922 6000 from 8.00 am to 7.00 pm from Monday to Friday or log on to myEPF at www.kwsp.gov.my

Source: staronline.com

Happy Chinese New Year 2013

noreply@blogger.com (Benson) — Sat, 09 Feb 2013 05:06:04 PST

Wishing all our readers Happy Chinese New Year, a great year ahead~

How to present effectively like Steve Jobs

noreply@blogger.com (Benson) — Sat, 02 Feb 2013 03:25:26 PST

Whenever I’m asked to speak to a group -- whether it’s a large gathering like a college commencement, or a smaller one like those found at a local chamber of commerce’s monthly breakfast -- I think of Steve Jobs, the master presenter. The co-founder of Apple didn’t just focus on statistics or technology in his communications; he sold the benefits of his company’s products.

Take a quick look at Jobs’ keynote address introducing the iPhone during the 2007 Macworld Conference & Expo. Visuals were used to illustrate a point, not to fill space or entertain. And no matter how brief or long the Jobs-led dog-and-pony show, you left the venue with a full understanding of what was presented.

We can all take some communications cues from Steve Jobs. Here are five that I recently came across from Jim Confalone, co-founder and creative director of ProPoint Graphics, a New York-based professional presentation design firm.

1. Know the one critical point in your presentation -- then make it clear. Steve Jobs recognized that the human mind couldn’t process a mountain of material in one sitting. Any information or data that isn’t driving a specific message can be a distraction that weakens the impact of your presentation. Use only visuals that support your one point.

2. Acknowledge why people are listening to you. Your audience is in the room for a particular reason. It’s critical to understand why they’re listening to you so you can tune your presentation in a manner that makes them more receptive listeners. The same talk might play out very differently if it’s given to shareholders, engineers or sales people.

3. Make an immediate, personal connection. Jobs always began by trying to make an emotional connection with the audience, even though his goal was to sell technology. This connection builds empathy, which in turn encourages your audience to be more receptive to what you have to say.

4. Keep the audience focused on you the speaker, not your presentation. The audience isn’t there to look at your slides. They’re there to see and listen to the presenter. Keep their focus on you. That may mean bringing a prop to hold up and draw their attention to, or it may mean inserting a blank slide into your presentation so that the audience is forced to look at you. Steve Jobs often did this — again, drawing the audience’s attention to himself.

5. Know your story. You should know your content so completely that you are comfortable giving your presentation with no visuals at all. Steve Jobs was notoriously meticulous about his preparation, scripting everything. Other presenters prefer to have an element of spontaneity or improvisation. Regardless of your style, mastery of your story affords you the luxury of calm and clarity, essential components to a great presentation.

Adapted: entrepreneur.com

What stocks to buy before and after the General Elections?

noreply@blogger.com (Benson) — Tue, 29 Jan 2013 02:09:05 PST

StarBiz presents eight stocks to keep on your radar.

THE impending general election may be wrong-footing stock market investors due to uncertainty concerns. But if you are one of those banking on the current administration staying in power, there are some stocks that are worth taking a bet on. These are companies that are doing well but which also have a political flavour one way or the other. These could be in the form of government contracts, shareholdings or just personalities involved in their key management or ownership. StarBiz presents eight stocks to keep on your radar.

SapuraKencana Petroleum Bhd

THIS oil and gas giant, although impressive in its own right, has obvious political links. While its executive vice-chairman Datuk Mokhzani Mahathiris the son of former prime minister Tun Dr Mahathir Mohamad, the group president and chief executive officer Datuk Seri Shahril Shamsuddin and his family have always had close ties with the Najib administration.

And business is seemingly good. Currently, it has a sizeable RM18bil order book, 35% of which is from locally-secured jobs while Brazil and the Gulf of Mexico its second largest market contribute about 24%. About 65% of SapuraKencana's jobs are for full engineering, procurement, construction, installation and commissioning works.

Going forward in Malaysia alone, there are RM300bil worth of jobs up for grabs. This is the projected capital expenditure of Petroliam Nasional Bhd (Petronas) over the next five years. SapuraKencana will be a likely bidder for many of the big jobs.

Together with its consortium partner, Norway's Seadrill, it is now in a neck-and-neck race against Technip-NosSkan to win potentially over US$5bil (RM15.2bil) of contracts in Brazil.

Industry experts are expecting SapuraKencana to garner RM3bil to RM5bil worth of contracts annually.

SaputaKencana will be a likely bidder for many of Petronas’ big jobs.

Other recent developments for SapuraKencana include its frontrunner position to clinch the Samarang central processing platform project from Petronas.

SapuraKencana closed Friday at RM2.95. The consensus target price for the stock is RM3.46.

Gamuda Bhd

THE construction sector is always said to have some political flavour. A good case in point is construction giant Gamuda, which is often seen as a proxy to politically-linked stocks on Bursa Malaysia.

Last year Gamuda secured one of its most significant jobs.

Gamuda became the project delivery partner (PDP) with MMC Corp Bhdfor Malaysia's biggest infrastructure project, the My Rapid Transit (MRT) in the Klang Valley.

MMC-Gamuda KVMRT (PDP) Sdn Bhd a 50:50 joint-venture company between Gamuda and MMC Corp was formed on Dec 27, 2010, while the formal agreement between Mass Rapid Transit Corp Bhd (MRT Corp)and the MMC-Gamuda joint venture on the appointment of the latter as the PDP was signed on Feb 10, 2012.

The primary function of the PDP is to deliver the KVMRT Sungai Buloh-Kajang (SBK Line) within the agreed key performance index of target cost and completion date.

With RM160bil worth of rail contracts up for grabs this year, Gamuda is looking forward to participate in upcoming infrastructure projects including the Kuala Lumpur-Singapore high speed railway link and the MRT's second line. There's also the remaining double-tracking rail job, from Gemas to Johor Baru.

Meanwhile, the Government is already conducting feasibility studies on the construction of the second and third MRT lines and will make its decision on the lines next year.

The two new MRT lines consist of the Circle Line which is an orbital line around Kuala Lumpur city while the other line is similar to the SBK Line, but runs from the underserved areas of Kepong and Sri Kembangan.

Recently, Gamuda's shares have garnered interest on reports that the company is in talks to sell its stake in highway operators Sistem Penyuraian Trafik KL Barat Holdings Sdn Bhd (Sprint) and Lingkaran Trans Kota Holdings Bhd (Litrak).

Reports have indicated that Gamuda, which has a 30% stake in Sprint and a 45% stake in Litrak, was in talks to sell its holdings in both entities for over RM4bil.

Gamuda closed Friday at RM3.64. The consensus target price is RM4.31.

CIMB Group Holdings Bhd

ONE of the stocks with the biggest political perception is undeniably CIMB. Its group chief executive Datuk Seri Nazir Razak is the younger brother of Prime Minister Datuk Seri Najib Tun Razak.

Recently, CIMB proposed to put in place a dividend reinvestment scheme. The move gives its shareholders the option of reinvesting their cash dividends in the company.

Nazir has told reporters that the group was focusing on CIMB 2.0, its codename for an exercise which includes implementing large-scale internal changes and integrating its new acquisitions The Royal Bank of Scotland (RBS) and the Philippines' Bank of Commerce (BoC).

CIMB's key acquisitions last year included a proposed 59.9% stake in BoC for RM881mil, and most of RBS' investment banking businesses in Asia Pacific for RM781mil.

Banking analyst Cheah King Yoong said although CIMB's share price had underperformed its banking peers last year, he expected the group's earnings momentum to remain strong in 2013.

“This is in anticipation of accelerated disbursement of economic transformation programme-related corporate loans and higher contributions from the investment banking operations,” said Cheah.

Over the near term though, he expected the group's share price performance to be capped given the group is highly vulnerable to increased market risk premium with the 13th general election drawing closer, particularly in view of its high foreign shareholdings, which stood at 40.9% in December 2011.

“Even though we continue to like CIMB's management track record, strong banking franchise and good proxy to Asean exposure, we believe its current share price offers limited upside in the near term. Meanwhile, OSK Research which has a trading buy call on the stock, said CIMB expected to realise gross proceeds of RM1.11bil from the sale of CIMB Aviva Takaful Bhd for RM1.8bil.

“This transaction will help it free excess funds that can be used to shore up the group's capital ratios ahead of Basel III commitments,” said OSK Research.

CIMB currently has investment banking presence in Malaysia, Indonesia, Singapore, Thailand, Brunei, Vietnam, Bahrain, Sri Lanka, London, New York, Australia, China and Hong Kong.

CIMB closed Friday at RM7.21. Consensus target price is RM7.21.

MyEG Services Bhd

ONLINE government services channel MyEG Services Bhd is the Government's most prominent partner in connecting services to Malaysians on the virtual platform.

Its principal activities are developing and implementing e-government services as well as providing related services for such projects.

On top of e-government projects, executive chairman Datuk Norraesah Mohamad is also a member of the Umno supreme council and was a senator in 2005-2008. Norraesah owns 1.17% of MyEG.

Currently, MyEG is collaborating with 12 government agencies, with the Road Transport Department contributing almost 50% of its total income, so that should give you an indication of how intrinsically-tied this company is to the current administration.

Last month, MyEG revealed a plan to invest up to RM60mil in its financial year 2013 to introduce a new online tax monitoring system and online renewal service for foreign worker permits. The latter is currently for foreign maids only but MyEG plans to expand that to the plantation and construction sectors.

The two projects are expected to be the main driver for the company's growth and profit in the coming years.

Managing director T.S. Wong said capital expenditure was generated internally and it would not affect its current dividend payout policy which is 30% of its net profit.

A week ago, MyEG entered a partnership with AIG Malaysia Insurance Bhd to provide general insurance products online.

For its first quarter (financial year 2013), the company recorded 21% growth in net profit to RM6.5mil, with a 13.2% expansion in group revenue to RM16.1mil driven by increased adoption of online renewals of auto insurance and road tax on its online portal.

Its first-quarter basic earnings per share improved 1.1 sen from 0.9 sen in the preceding quarter.

For 2012, its revenue grew 13.7% to RM66.9mil while net profit increased by 23.5% to RM27.34mil.

Looking ahead, Wong said MyEG planned to launch two major services per year, with 10% increase in revenue expected.

The group intends to grow its revenue by 20%-30% each year.

Aside from the 90% revenue stream from e-government services, MyEG is also looking to diversify its government-related business to commercial services.

Malaysia Marine and Heavy Engineering Holdings Bhd

MALAYSIA Marine and Heavy Engineering Holdings Bhd (MMHE), a subsidiary of MISC Bhd, would appear to be another obvious political play. MISC is 62.7% owned by Petronas.

As at end-September, MMHE had an order backlog of RM2.3bil, comprising Kebabangan (RM756mil), Tapis EOR (RM635mil), FPSO Cendor (RM277mil), F14/F29 (RM216mil), Gumusut-Kakap FPS (RM198mil) and others (RM220mil).

MMHE is tendering for RM5bil worth of new projects, of which, RM3.3bil are in domestic projects and RM1.7bil in overseas works.

In March last year, MMHE acquired the 52.6ha fabrication yard in Johor from Sime Darby Engineering Sdn Bhd, a wholly-owned unit of Sime Darby Bhd, for RM393mil.

In December, Exxon Mobil Corp's subsidiary awarded a RM165mil contract to MMHE to build the facilities for the Damar gas development project.

The project involves MMHE building the topsides and platform jacket for the project.

For its third quarter financial year 2012, MMHE reported weaker earnings of RM8.1mil from RM80.2mil in the same period last year.

The lower profit was due to provision for higher-than-expected expenses incurred by an ongoing conversion project as well as from its share of losses arising from the jointly-controlled entities' performance.

MMHE closed Friday at RM4.20. The consensus target price is RM4.28.

Prestariang Bhd

IT'S been 18 months since Prestariang Bhd was listed.

This provider of information communication technology (ICT) training, certification and software still has big plans in the offing with the opening of its boutique university taking centre stage for now.

Mooted by the Government, the university which will be launched on Jan 31, will provide the company a recurring income on top of its current businesses which include the provision of training, certification and software to clients such as government ministries and local universities, which are among its biggest clients.

It works with top global IT companies in the provision of such services.

Currently, 70% of Prestariang's business comes from the public sector. It enjoys a gross margin of about 40%, superior to that of its other ICT and eduction peers largely due to its ability to do business on a large-scale basis, according to analysts.

Analysts have said that Prestariang, which posted a net profit of RM10.2mil for the third quarter ended Sept 30, is in a sweet spot as theEconomic Transformation Programme (ETP) continues to unfold itself.

A lot of the objectives set out in the ETP will require much reskilling and upskilling, which is where the company's expertise lies.

The stock disappointed many when it fell 18% lower on the first day of its trading.

The downtrend persisted for a while after that with the share price dipping to as low as 52 sen. It has since recovered to RM1.14 but is still trading at a price earning ratio that is half of its competitors.

Cypark Resources Bhd

Cypark’s solar plant at Pajam.

INTEGRATED renewable energy developer and environmental solutions provider Cypark Resources Bhd is poised to ride on the initiatives implemented by the Government to promote green energy.

Before it was listed in 2010, it said it had been mandated by the Government to close 16 landfills nationwide.

The projects have since been completed and are ready for handover to the Government.

Apart from these, the company has also invested RM94.29mil to build a renewable energy park (RE Park) with grid connection on a 26ha remediated landfill in Pajam, Nilai.

The RE Park, announced by the Prime Minister, is one of the new investments from entry point projects of the ETP.

Cypark plans to develop RE with total generating capacity of 100 MW by 2015.

If the project is implemented in full, the 100 MW green energy is expected to generate additional revenue of up to RM130mil annually.

Cypark foresees market growth for solid waste management which is expected to be driven by increasing waste output from the country's population and heightened awareness of environmental protection.

The group expects to benefit from government projects as demand for solid waste management solutions and services is likely to come from public sector initiatives.

Cypark saw its net profit more than double to RM4.96mil for the fourth quarter of its financial year ended Oct 31, 2012 from RM2.42mil in the corresponding quarter a year ago.

The stock was traded at RM1.63 on Friday, 25% off its one-year high of RM2.18.

Handal Resources Bhd

AN offshore crane manufacturer for the oil and gas industry, Handal is hoping to bid for larger Petronas contracts. Its subsidiary Handrill Sdn Bhd is currently a rig owner/operator licensed by Petronas.

Analysts are also bullish about the prospect of the local oil and gas (O&G) industry in light of Petronas and other O&G players' intensified efforts in exploration and production activities to enhance the nation's oil reserves.

Additionally, Petronas' commitment to invest RM300bil in the sector will provide spin-off benefits and positive prospects for industry players such as Handal.

Despite it being only a medium-sized oil and gas contractor, Handal has managed to secure sizeable contracts. The company is reportedly tendering for RM22mil in local and overseas offshore crane jobs, which will give a margin boost of 11%-12%. Its order book is estimated at RM400mil for the previous financial year ended Dec 31, 2012.

Handal has diversified into the construction of rigs for marginal oil fields, with the acquisition of the Seacrane intellectual property rights last August for US$375,000. It allows the company to market offshore pedestal cranes under its in-house brand and also to position itself as an original equipment manufacturer for offshore pedestal cranes. It is looking to tap opportunities in Asia, Australia, Europe and Africa.

For the nine months to Sept 30, 2012 Handal raked in RM4.97mil net profit or 3.11 sen earnings per share on revenue of RM66.06mil.

Despite its potential, Handal's share price has been lacklustre since its listing. Handal made its debut on Bursa Malaysia in 2009 with an initial public offering price of 72 sen. The counter hit its all-time high of RM1.09 in August 2009. The stock was last traded at 43 sen.

Source: star online

Income limit eligibility for My First Home up to RM5,000

noreply@blogger.com (Benson) — Fri, 04 Jan 2013 07:10:53 PST

KUALA LUMPUR: The income limit of individual borrowers for My First Home Scheme (SRP) will be increased from RM3,000 to RM5,000 per month effective January 2013.

This enhancement was one of the SRP’s eligibility criteria slated for improvement under Budget 2013’s announcement last year, Cagamas SRP Bhd said yesterday.

For joint borrowers, it said the income limit had been increased up to RM10,000 per month, subject to the individual borrower’s income not exceeding RM5,000 per month.

“In addition, the requirement for a savings record equivalent to three months installment and minimum employment of six months will be abolish,” Cagamas SRP said.

It said the scheme allowed homebuyers to obtain 100% financing from participating banks, enabling them to own a home without having the need to pay a 10% downpayment.

“Cagamas SRP will guarantee the initial 10% of the loan under the scheme,” it added.

Cagamas was mandated in 2011 to play an active role of helping young, working Malaysians in the private sector to own their first homes under the SRP. — Bernama

Happy New Year 2013

noreply@blogger.com (Benson) — Tue, 01 Jan 2013 23:37:23 PST

We sincerely Wishing our readers Happy New Year 2012

& may have a great year ahead. Thanks again for being with us.

Sharing is Caring

PRS Scheme In Malaysia & FAQ

noreply@blogger.com (Benson) — Thu, 27 Dec 2012 04:59:35 PST

1. What is a private retirement scheme?

A private retirement scheme (PRS) is a voluntary long-term investment scheme designed to help individuals accumulate savings for retirement. It complements the mandatory contributions made to EPF.
Each PRS will include a range of retirement funds that individuals may choose to invest in based on their own retirement needs, goals and risk appetite. The fund options under a PRS must be consistent with the objective of building savings for retirement and ensure that there is a prudent spread of risk.

2. What is the scope of private pension reforms undertaken by the Securities Commission Malaysia?

The introduction of the private retirement scheme framework resulted from recommendations made by the Securities Commission Malaysia (SC) to the Government to accelerate development of the private pension industry in Malaysia.
Private retirement schemes form an integral feature of the private pension industry with the objective of improving living standards for Malaysians at retirement through additional savings of funds.
The PRS industry forms the third pillar in a multi-pillar pension framework and will complement Malaysia’s mandatory retirement savings schemes.

3. What is the regulatory framework governing PRS?

The Capital Markets and Services Act 2007 (CMSA), the Capital Markets and Services (Private Retirement Scheme Industry) Regulations 2012 (the PRS Regulations) and the Guidelines on Private Retirement Schemes (PRS Guidelines) form the regulatory framework for the PRS industry in Malaysia.
The 2011 amendments to the CMSA setting out the regulatory and supervisory framework for the private retirement scheme (PRS) industry came into force on 3 October 2011. Under the new Part IIIA of the CMSA, the SC regulates the following key participants in the PRS industry:
- Private Retirement Scheme Administrator;
- Private Retirement Scheme Providers (PRS Provider);
- Private Retirement Schemes (PRS);
- Trustee to Private Retirement Schemes (Scheme Trustee); and
- Trustee to Employer-Sponsored Retirement Schemes (Employer Trustee).

The PRS Regulations establish the duties and responsibilities of a PRS Provider and Scheme Trustee, as well as requirements on approval of the PRS Scheme, the registration and lodgement of the trust deed and the disclosure document as well as other provisions on the register of members and meeting of members.
The PRS Guidelines are aimed at providing a regulatory environment that would safeguard the interests of contributors to PRS.

4. What are the key components of the PRS framework?

The PRS framework comprises approved PRS Providers, each offering a range of fund options under a PRS, where the assets are segregated and held by independent Scheme Trustees under a trust.
The law also caters for the establishment of a Private Pension Administrator which would be responsible for the operationalisation of an efficient administrative system for the PRS industry.
Underpinning the framework is a strong regulatory and supervisory structure based on the SC’s regulatory objectives of ensuring robust regulation and supervision of the PRS industry, promoting trust and confidence in the PRS and protecting interest of members.

5. What are the features of the framework to ensure a strong regulatory and supervisory structure?

All relevant intermediaries in the PRS industry, namely the PRS Provider, Private Pension Administrator, Scheme Trustee and PRS distributors require approval of the SC to operate and will be subject to on-going regulatory requirements and supervision.
The PRS will operate as a trust structure with the Scheme Trustee ensuring the assets of the funds are segregated from the PRS Provider. The funds under the PRS will be professionally managed by the PRS Providers with the purpose of meeting the retirement objective of members. Further, provisions on vesting of contributions and rights to accrued benefits set out in the CMSA will ensure that accrued benefits will be delivered to members to meet retirement needs. (Accrued benefits in the CMSA mean the amount of a member’s beneficial interest in a private retirement scheme).
A strong regulatory and supervisory framework will ensure that interests of members are safeguarded and protected, integrity of the PRS industry is upheld, risks are appropriately monitored and stability of the system is maintained.
In addition to the SC’s supervision, investigation and enforcement powers, the SC also has the power to issue directions over the intermediaries in the PRS industry. The SC’s powers to issue directions include the ability to direct the intermediary to comply with the law, guidelines, conditions or restrictions, or take remedial action.

6. What is the role of the Private Pension Administrator (PPA)?

The PPA refers to a private retirement scheme administrator as defined under section 139A of the CMSA. The duties and responsibilities of the PPA under the law (Section 139H of CMSA) include taking into account public interest considerations in acting in the best interests of members and having regard to the need to protect members.
The PPA would promote efficiency and convenience to members through:
- Facilitating and maintaining all PRS-related transactions made by members;
- Facilitating portability between PRS providers; and
- Undertaking promotion and general education/awareness on PRS.

7. How do I (an individual) join PRS?

To make contributions to PRS, just contact the PRS Provider of your choice and indicate your fund selection. At the same time or prior to contributing, you may open a PPA account by completing an account opening form that can be obtained from any PRS Provider or from the website of the PPA once the Schemes are offered to the public (www.ppa.my).
Proof of identification is required at account opening:
- Identification card / Police / Armed Force ID (for Malaysians) or Passport (for foreigners).
Once the PPA account is opened, you will receive your life-time account number and password.
The above account opening procedures would differ for on-line transactions.

8. How does an employer make a voluntary contribution on behalf of its employees?

Where an employer seeks to contribute to PRS on behalf of its employees, the employer may enter into an arrangement with one or more PRS Providers of their choice. The amount of contribution is determined by the employer while employees choose the type of fund(s) under the Scheme offered by the relevant PRS Provider.
Where employees do not make a fund selection, the employer contributions would be channelled to the default option of the chosen PRS Provider.
Employer contributions may be subject to a vesting schedule which means the entitlement may only be vested to an employee’s account based on their terms of service.

9. What should I consider when choosing a PRS?

When making your PRS contribution, you need to take into account various factors such as your age, personal and household income, risk tolerance, retirement objective as well as the suitability of the different funds under the various Schemes to meet your retirement needs as well as the fees and charges of the funds.
There are many different types of investors:
- Some may be looking for steady returns
- Some are happy to grow their retirement savings very slowly
- Some are keen to chase higher returns
The approach may be different if you are – single, young employee; double income young family, mid-career or already near retirement. For example:
- if your retirement is remote you may consider investing in some higher-risk instruments that can potentially generate higher returns;
- if your retirement is near, you may consider opting for some relatively stable and conservative investments; or
- if your retirement is some years away, you may consider investing in a balanced investment portfolio consisting of bonds and equities.
Our needs change through different stages of our lives. You should review your PRS portfolio regularly to ensure that it matches your retirement objectives.
It is important to bear in mind the cost of living and inflation in setting your retirement goal as well as to think long-term; do not be overly concerned about short-term market fluctuations.

10. Where can I obtain information when making a decision to contribute to PRS?

Potential members must receive the following documents before contributing to any fund under the Scheme:
- Product highlight sheet, which provides a summary of the key information of the fund(s) under the Scheme written in easily understood language; and
- Disclosure document, either in electronic form or printed copy depending on the choice made by the potential member, which will provide more comprehensive information on the PRS. The objective is to enable the investor to make an informed investment decision.
Contributors are advised to read and understand the disclosure documents and not solely rely on advertisements.

11. When can I start contributing to PRS?

The SC is in the final stages of implementing the PRS framework. In line with the SC’s investor protection mandate, a period of general education and awareness on PRS has been allocated before approved PRS may be offered to the public. This is to allow potential members to get advice on the need to save for retirement and more information on the features of PRS.
A list of approved PRS Providers and their Schemes will be published on the website of the PPA.

12. How do members keep track of their PRS investments?

Members will be able to check online via the PPA website or contact the relevant PRS Provider.
Members will receive statements on a periodic basis from PRS Providers and a consolidated statement on their investments from the PPA. This will include contributions held by every PRS Provider.

13. Can contributions be withdrawn from PRS?

Withdrawals from PRS or from any funds under PRS may be made in part or in full and under the following circumstances:
- After the day the member reaches retirement age, which is currently 55;
- Following the death of a member;
- Permanent departure of a member from Malaysia; or
- For pre-retirement withdrawals.
With respect to pre-retirement withdrawals, members may only withdraw the amount in sub-account B from each PRS Provider once a year. The first pre-retirement withdrawal can only be requested by a member one year after making the first contribution to any fund under the Scheme (whether the contribution is by an employer or member). While pre-retirement withdrawal may be made for any reason, a tax penalty of 8% on the withdrawal amount will be deducted by the PRS Providers before the balance is credited to the member’s account.
Although lump sum withdrawals are permitted, members are encouraged to retain their savings for continuous investment under the respective Schemes.

14. What happens when a member dies?

When a member dies, their savings will be paid to the executor, administrator or named beneficiary (as the case may be). The Scheme Trustees will be required to release all or part of the balance where required pursuant to a grant of probate or letters of administration

More Link,

PRS Brochore -

http://www.ppa.my/wp-content/uploads/2012/07/PRSnewbookletBI.pdf

List Of PRS Providers,

http://www.ppa.my/index.php/providers-and-schemes/list-of-prs-providers/

Fee Comparison Among PRS Providers

http://www.ppa.my/index.php/providers-and-schemes/fee-comparison/

2013 KLCI Top Picks by Nomura Research

noreply@blogger.com (Benson) — Sun, 23 Dec 2012 01:44:57 PST

THE upcoming 13th general election may rejuvenate Malaysia's weak stock market and continue bucking the trend in the first half of 2013.

Nomura International (Hong Kong) Ltd managing director and chief Asia equity strategist and global head of equity strategy Michael Kurtz said the long awaited 13th elections should be the key driver for Malaysian equities in the first half of 2013 overshadowing other challenging macro global factors.

The global factors, including slower economic growth prospects in China and Europe, the Greece debt crisis and the US economic slowdown, could result in near-term volatility for the market.

Stock Name	Ref Date	Ref Price	Price Diff	Last	Range	Open	Change	Volume
DIGI	18/12/2012	5.04	+0.17	5.21	5.21 - 5.34	5.33	-0.15	8,129,300
TM	18/12/2012	5.85	+0.06	5.91	5.89 - 5.95	5.95	-0.04	5,883,900
AXIATA	18/12/2012	6.58	-0.01	6.57	6.57 - 6.70	6.68	-0.11	6,386,600
PBBANK	18/12/2012	16.00	+0.02	16.02	16.02 - 16.10	16.06	-0.02	709,400
MAYBANK	18/12/2012	9.04	0.00	9.04	9.02 - 9.10	9.05	-0.01	4,527,200
SIME	18/12/2012	9.13	+0.22	9.35	9.23 - 9.37	9.30	-0.01	5,742,800
AIRASIA	18/12/2012	2.61	-0.08	2.53	2.49 - 2.58	2.55	-0.02	22,970,300
WCT	18/12/2012	2.35	0.00	2.35	2.35 - 2.38	2.38	-0.03	1,234,400
SKPETRO	18/12/2012	2.97	+0.11	3.08	3.02 - 3.14	3.14	-0.06	3,676,800
CIMB	18/12/2012	7.60	+0.03	7.63	7.60 - 7.65	7.62	-0.05	4,329,700
GENM	18/12/2012	3.54	-0.06	3.48	3.48 - 3.56	3.55	-0.12	4,486,700
MEDIA	18/12/2012	2.23	+0.03	2.26	2.24 - 2.29	2.24	-0.01	421,600
MMCCORP	18/12/2012	2.65	-0.06	2.59	2.59 - 2.65	2.65	-0.06	600,300

Source: Nomura Research/ i3investor

Analysis of Malaysia General Election (GE) Results VS KLCI

noreply@blogger.com (Benson) — Fri, 21 Dec 2012 19:26:57 PST

PETALING JAYA (Dec 21, 2012): There is little correlation between stock market rallies and general election (GE) results in Malaysia, said M & A Securities Sdn Bhd, based on its examinations of the past six election results.

"Based on the results of the percentage of seats that the incumbent government Barisan Nasional (BN) won in the previous six elections in Malaysia and the performance of the FBM KLCI, there has been low correlation of only 0.4 between the performance of the stock market and the results of the GEs," said the research firm in a report on Wednesday.

"Therefore, we can surmise that the performance of the stock market does not have much bearing on the outcome of GEs in so far as the BN is concerned."

M&A Securities said this also means the "feel good wealth factor" from a good stock market performance does not necessarily translates into a better election performance for the incumbent BN government.

"If we examine the past six GE results, the percentage of BN Parliamentary seats have been swinging between one GE to the next GE from the high to the low and the low to the high and so it has been repeated.

"Therefore, the "pendulum theory" whereby election results see-saw between high and low from one GE to the next GE has more proof to it than the theory that a good stock market performance will translate into a strong incumbent government BN performance in the upcoming GE," it added.

M&A Securities recalled that 2008 was an isolated incident where a bad stock market performance preceded the worst GE outcome for BN since 1969.

"In 2008, the stock market was down 9.7% year-to-date as at March 7, 2008 prior to the March 8 GE. That year, the BN had its worst outcome in the election where it was denied its customary two-thirds majority and won only 63% of parliamentary seats.

"However, one outlier does not proof that a bad stock market performance preceding a GE will lead to a bad GE result for the incumbent government BN," said M&A Securities.

"Similarly, in 1986, when the FBM KLCI was down 4.6% as at Aug 1 1986 prior to the Aug 3 GE, the BN had one of its best performances with 86% of the parliamentary seats," it added.

M&A Securities noted that the FBM KLCI has year-to-date performed well in 2012, in line with regional bourses.

"This year, the FBM KLCI has rose 7.8% as at Dec 13.

"How the stock market will perform in the first quarter of 2013 is debatable as the fund managers may want to re-balance their portfolio from the high beta stocks, which are laden in the FBM KLCI 30 index weightage, into the low beta stocks such as plantation, oil and gas and consumer stocks which have less constituents in the FBM KLCI 30 index and therefore, this strategy may not push the FBM KLCI by much but may either push it down or sideways," it said, adding that 13th GE is likely to be held in March or April next year.

-- TheSun

Most Spoiled Kids in the World

noreply@blogger.com (Benson) — Fri, 21 Dec 2012 04:59:00 PST

Most kids would be thrilled by a trip to Disney World. But for Suri Cruise a trip to the Magic Kingdom isn't complete without a night in the invitation-only suite at Cinderella's Castle.

And she isn't even the most spoiled kid on this list.

Petra and Tamara Ecclestone, daughters of Formula One racing honcho Bernie Ecclestone

Bernie Ecclestone with daughters Tamara (L) and Petra (R). (Mark Thompson/Getty Images)Petra and Tamara, the gorgeous and pampered offspring of Bernie Ecclestone, are known for their extravagant spending on everything from handbags to real estate — Petra famously bought an $85 million mansion in L.A. last year.

The daughters, ages 23 and 28, reportedly have access to their father's $4.8 billion-dollar trust, and while Bernie lets them make spending decisions on their own, he hasn't been happy with how they've squandered their inheritance.

"The kids have had access to the money," Ecclestone told The Telegraph last year. "The idea was that they'd buy super-quality property, property that would be long term, for their kids and everything else. Didn't happen. They haven't done that. So they've had access to money which they've spent."

Suri Cruise, daughter of Tom Cruise and Katie Holmes

Katie Holmes and Suri Cruise feed giraffes (Getty Premium)Suri has been making tabloid covers since she was born, more often than not for the attention her famous parents lavish on her.

This summer when Tom whisked Suri off to Disney World, the six-year-old stayed in Cinderella's Castle Suite — an apartment originally designed for the Walt Disney family in the Magic Kingdom that cannot actually be booked and is normally reserved for special events, according to People.

It's been reported that Suri's wardrobe is worth $3 million and includes coveted itemssuch as a $2,140 Dolce & Gabbana red trench coat and a rack of dresses from designers like Marc Jacobs, Chloe, Burberry and Juicy Couture.

But exclusive vacations and high-end clothes aren't the only costly things in Suri's life. Mail Onlinerecently reported that Suri's mom is planning to surprise her daughter with an eight foot, $24,000 Grand Victorian Playhouse for Christmas which comes equipped with running water, electricity, and extensive landscaping.

Valentina Paloma Pinault, daughter of Salma Hayek and François-Henri Pinault

YoutubeFive-year-old Valentina is already attendingart galas in Italy, vacationing in St. Barts, and working red carpet premieres. But that's what's expected when you're the daughter of a famous movie star and a luxury goods tycoon.

The pint-sized diva is said to be full of personality and brains, just like her parents, Salma Hayek and François-Henri Pinault. She's often caught sticking her tongue out to paparazzi and can speak three languages, English, Spanish, and French.

Her father spends $50,000 a month for a $12 million Los Angeles estate held in trust in Valentina's name, according to Hollywood Life.

Justin Dior Combs, son of Diddy

(L-R) Justin Combs, Sean "Diddy" Combs and Michael Bloomberg (Stephen Lovekin/Getty Images)Justin Combs, 18, is one lucky kid: for his sixteenth birthday, his rap legend father handed over the keys to a $360,000 silver Maybach, according to US Magazine.

His lavish birthday bash, which was attended by several members of the "Jersey Shore" cast, was featured on an episode of MTV's "My Super Sweet Sixteen."

Justin may live the good life, but he's also a well-rounded teen: he's currently attending UCLA on a hard-earned football scholarship.

Emme Anthony, daughter of Jennifer Lopez and Marc Anthony

(Venturelli/FilmMagic/Getty)Four-year-old Emme was spotted sitting front and center at the Paris Fashion Week show in October donning more than $2,400 worth of Chanel accessories, including a $310 brooch and a $2,100 bag, according to US Magazine.

But Paris is no big deal for Emme or her twin brother Max, who are used to jetting off in their mom's private plane to international destinations such as Italy, Britain, and Spain. Most recently, the twins accompaniedJennifer to Istanbul, Turkey, when the singer performed for the first time ever.

The twins aren't only spoiled by their mom. The tots' godfather, superstar Tom Cruise, dotes on them, too and reportedly threw them a "$200,000 'Welcome to the World' christening party, complete with matching designer outfits." Rumor has it that the twins were also given diamond rattles, reports Xfinity.

Sheikh Hamdan bin Mohammed bin Rashid al Maktoum, Prince of Dubai

(Andrew H. Walker/Getty Images for DIFF)The 29-year-old crown prince of Dubai and son of Mohammed bin Rashid Al Maktoum, the Prime Minister of the United Arab Emirates, leads a charmed life.

For starters, he drives a diamond-studded, mink-finished Mercedes that's worth an estimated $4.8 million and cruises in the world's largest yacht, which has a $300 million price tag.

He also has an affinity for practicing sports and spends his days scuba diving, sky diving, jet skiing, and body boarding.

He also enjoys traveling. When he was in New York in June, the Prince ordered a $1,000 dessert, which was served in a $300 Baccarat goblet complete with edible gold and Tahitian vanilla ice cream.

Ekaterina Rybolovleva, daughter of Russian oligarch Dmitry Rybolovlev

YoutubeRybolovleva, 22, is the college-aged daughter of Dmitry Rybolovlev, a Russian oligarch who's worth an estimated $9 billion.

Last year, she and her dad made headlineswhen he bought Sandy Weill's $88 million penthouse on the Upper West Side, supposedly for his daughter to use when she is in New York City.

It's the single-most expensive apartment in the Big Apple, according to the International Business Times.The 6,744 square foot pad has "10 rooms including four bedrooms, a wraparound terrace of more than 2,000 sq. feet, four bedrooms and two wood burning fireplaces."

And this is just a part-time residence. Ekaterina also has homes in Monaco and Switzerland, where she has split her time over the last 15 years.

Peter and Harry Brant, sons of Peter Brant Sr. and Stephanie Seymour

(L-R) Harry Brant and Peter Brant, Jr. (Paul Zimmerman/Getty Images)The 18- and 15-year-old sons of media mogul Peter Brant and former supermodel Stephanie Seymour have made a name for themselves on NYC's social scene in recent years.

They grew up on a 53-acre spread in Greenwich Conn., surrounded by art and fashion. But their expensive tastes have veered towards the flamboyant — for this year's Met Ball, which they did not actually attend, "they had planned to arrive in a gold-plated Rolls-Royce accompanied by a baby panther wearing a diamond necklace," according to a recent profile in Vanity Fair.

Until recently, the brothers flaunted their lifestyle with tweets ("Triumphant Return To Paris!! (we've missed the city of lights during the 5 days since we were last here) haha") from a shared Twitter account. But after an unsavory Twitter joke about killing the President, Peter lost his Twitter privileges, according to Fashionista.

Blue Ivy Carter, daughter of Beyonce and Jay-Z

(ABC News)Blue Ivy Carter, the daughter of singer Beyonce Knowles and rapper Jay-Z, was an A-lister before she was even born.

At 11 months old, she's already better dressed – and has a bigger wardrobe – than most Americans.

In March, the celebrity baby was spotted wearing $66 Little Marc Jacobs Baby Mouse slippers. Fashion & Style reported that little Blue Ivy also naps in a $3,500 lucite crib from NurseryWorks VETRO and bathes in a $5,200 pinkSwarovski crystal encrusted bathtub, a gift from her aunt, Kelly Rowland.

When she's not snoozing or soaking in style, Miss Carter jets off with her famous parents on their $39.1 million private jet or cruises around the Mediterranean on her family's $40 million super-yacht. Not too bad for a baby who can't even talk yet.

Liesel Pritzker, heiress to the Hyatt hotel fortune

Youtube28-year-old Liesel Pritzker, best known for her feature role in the 1995 Warner Bros filmA Little Princess, is one of 12 grandchildren with stakes in the enormous Hyatt hotel fortune.

In 2002, when she was a freshman at Columbia, she and her brother sued their father and other family members claiming they had been cheated out of their inheritance. The pair won a reported $560 million settlement.

Several years later she put her money to good use and spent $6.2 million to purchase a castle-likeUpper West Side apartment.

But this isn't Liesel's only Manhattan spread. She also owns a $2.29 million condo near the Columbia campus. “I figured that it would make more sense to buy,” she told The New York Times. Princesses don’t rent.

Haji 'Abdul 'Azim, Prince of Brunei

YoutubeFor his 30th birthday, Prince Azim of Brunei pulled out all the stops and invited A-listers like Pamela Anderson and Marisa Tomei to anenormous celebration at the Dorchester Hotel in London.

But lavish parties have always been his thing. In 2009, the billionaire playboy reportedly threw the "Party of the Year," spending over 70,000 euros on the flowers alone.

Guests can always count on leaving the Prince's celebrations with some pretty stellar party favors, including iPods, diamond jewelry, and luxury Crème de la Mer face creams.

And if you're a real bestie, he may just spoil you rotten. Mail Online reports that the Brunei Prince gifted $6 million worth of jewels to long-time friend Mariah Carey in 1996.

Anastasia Potanina, daughter of metals giant Vladmir Potanin

(Business Insider)The 28-year-old Russian is the daughter of Vladmir Potanin, the metals and media magnet who owns Russian versions of MTV, VH1 and Cosmopolitan magazine.

Beyond just being rich and beautiful, Anastasia was a world champion in aquabiking, which is essentially competitive jet skiing.

The heiress is also a very good skier, in part thanks to the indoor slope her father built for her at his home in Moscow.

After breaking her leg, Anastasia has quit aquabiking to pursue a career in sports management.

Brandon Davis, grandson of oil tycoon Marvin Davis

(Andrew H. Walker/Getty Images for ART.sy)Davis, a 32-year-old oil heir and frequent pal of Paris Hilton, is commonly in the tabloidsfor drug charges infractions, alleged nightclub brawls, and crude, often inappropriate humor.

He famously dated actress Mischa Barton, and then referred to her as a "heifer" on Twitter when they broke up in 2010 and was caught on tape soon after calling Lindsay Lohan "a fire crotch."

Though the personal life of this American socialite is somewhat disheveled, Davis has shown glimmers of business acumen.

In 2011, he brokered what many consider to be one of the largest real estate deals in Hollywood history, the $85 mansion deal with Berni Ecclestone's daughter Petra, according to The Daily Mail.

Davis, or Greasy Bear, as he's often called in the tabloids, is worth an estimated $55 million.

Vorayud Yoovidhaya, grandson of Red Bull founder Chaleo Yoovidhya

YoutubeForbes magazine ranked the Yoovidhaya family as the fourth richest family in Thailand this year, with an estimated net worth of $5.4 billion.

But the grandson of Red Bull creator Chaleo Yoovidhya, is known for milking his family's deep pockets for all they are worth.

In October of this year, 27-year-old Vorayud Yoovidhaya was accused in the hit-and-run death of a police officer and had his father paythe officer's family $97,000 to stall the civil lawsuit.

The car involved in the accident was a Ferrari and is valued at about $1 million.

Prince Pierre Casiraghi, Son of Princess Caroline of Monaco

(Pascal Le Segretain/Getty Images)Prince Pierre Casiraghi, 25, is third in line to the throne of Monaco. But his royal responsibilities haven't stopped him from living extravagantly.

In fact, he reportedly dropped out of school and is known as the "party prince," according to The Daily Mail.

Prince Pierre supposedly regularly appears at nightclubs around Europe and the U.S., dropping cash on expensive bottles.

Earlier this year, he wound up in the hospital after a brawl with a nightlife impresario at a Manhattan club, who later told The New York Post that the prince and his entourage “were being completely obnoxious,’’ insulting the models and swigging from a $500 bottle of vodka on his table.

He's now suing the club, Double Seven.

Paris and Nicky Hilton, daughters of Rick and Kathy Hilton

(Michael Buckner/Getty Images for DeGrisogono)The Hilton sisters, heirs to the $300 million Hilton hotel fortune, are American socialiteswho've gained fame and (more) fortune because of their wealthy parents.

While Nicky's name has long been overshadowed by her older sister Paris, who starred in the long-running reality series The Simple Life, both women have launched numerous clothing and accessory lines that have made splashes in the U.S. and overseas.

The sisters are also known for living fabulously lavish lifestyles which include partying with celebrity pals such as Kim Kardashian and Brandon Davis, blowing through daddy's dollars on extravagant vacations to France and Aspen, and purchasing multi-million dollar houses around Los Angeles.

Samuel Irving Newhouse IV, heir to the Conde Nast fortune

YoutubeSam is the grandson of Condé Nast chairman S.I. Newhouse and a member of one of America's most powerful media families.

Newhouse, who got married back in 2009, recently sold his TriBeCa loft for $2.7 million, $300,000 more than he paid for it several years earlier, according to The Observer. There was no mortgage filing on the listing when young Newhouse bought it, which suggests he paid cash, The Observer noted at the time.

Like other heirs of his ilk, he also appeared in the 2003 documentary "Born Rich."

Egypt Daoud Dean, son of Alicia Keyes and Swizz Beatz

(James Devaney/WireImage)The son of singer Alicia Keyes and rapper Swizz Beatz is already living the good life and he's barely two years old.

He's been spotted rocking courtside seats with mom and dad at various New York Knicks game and regularly flies off in Swizz Beatz's private jets to destinations like Hawaii and London.

When he's not cheering on his favorite team or vacationing in style, Egypt is said to haveplaydates with other celebrity babies like singer Mariah Carey and rapper Nick Cannon's twins, Monroe and Moroccan.

Egypt got his unique name after his mom had a breakthrough moment while traveling in the country for work.

Source: Yahoo Finance

Tarikh Pembayaran Gaji Kakitangan Awam bagi Tahun 2013

noreply@blogger.com (Benson) — Fri, 21 Dec 2012 03:47:46 PST

BULAN	TARIKH	NOTA
Januari	23 Januari 2013 (Hari Rabu)
Februari	*25 Februari 2013 (Hari Khamis)	Tahun Baru Cina: 10 & 11 Februari 2013
Mac	25 Mac 2013 (Hari Isnin)
April	25 April 2013 (Hari Khamis)
Mei	23 Mei 2013 (Hari Khamis)	Pesta Menuai : 30 & 31 Mei 2013
Jun	* 25 Jun 2013	Hari Gawai : 1 & 2 Jun 2013
Julai	25 Julai 2013 (Hari Khamis)
Ogos	* 22 Ogos 2013 (Hari Khamis)	Hari Raya Puasa : 8 & 9 Ogos 2013
September	25 September 2013(Hari Rabu)
Oktober	8 Oktober 2013 (Hari Selasa)	Hari Raya Haji 2013 : 15 Oktober 2013
November	25 November 2013	Deepavali : 2 November 2013
Disember	* 18 Disember 2013	Hari Khamis : 25 Disember 2013)

Sumber : ANM (anm.gov.my)

ASB Unitholders Get 8.9% Dividend & Bonus for 2012

noreply@blogger.com (Benson) — Fri, 21 Dec 2012 01:28:34 PST

KUALA LUMPUR: Amanah Saham Bumiputera (ASB) unitholders will receive a dividend of 7.75 sen per unit for financial year ending Dec 31, 2012 compared with 7.65 sen last year.

The 7.82 million unit holders, who currently held a total of 110.2 billion ASB units, will also receive a bonus of 1.15 sen per unit.

Permodalan Nasional Bhd (PNB) chairman, Tun Ahmad Sarji Abdul Hamid, said the income distribution portion involved a total payout of RM8.13 billion while the bonus portion RM712.21 million.

"In fact, this is the highest payout for the past five years since 2008 until 2012, seven sen in 2008, 7.30 sen in 2009 and 7.50 sen in 2010," he said to reporters at the ASB income distribution announcement here today.

Up to last Wednesday, he said, the scheme registered a gross income of RM8.54 billion.

"Dividend income from investee companies contributed RM4.80 billion, or 56.21 per cent, of the gross income, and profit from the sale of shares contributed RM2.68 billion, or 31.38 per cent," he said.

He said the remaining 12.41 per cent, or RM1.06 billion, was derived from other incomes.

PNB president/chief executive officer, Tan Sri Hamad Kama Piah Che Othman, said this year the number of new unit holders amounted to 543,000 for all schemes and 472,821 holders for ASB, specifically.

On prospects next year, he said, with Malaysian economy being stable, the performance of the fund was expected to be better.

Bernama

10 rules for multiplying personal wealth

noreply@blogger.com (Benson) — Wed, 19 Dec 2012 06:44:27 PST

Here are a few key rules to remember:

Rule 1: Be systematic, unemotional and diversified

This is the very first rule we touch on right from the beginning. There's a popular bumper sticker that says, "I'm spending my grandkids' inheritance."

That whole idea just frustrates me. In some ways, our society's personality is such that if we can spend our money before we die, we've lived a great life. But you can't do that.

Rule 2: Never spend principal

That's the second rule. Inflation has gone above 10 per cent in the US economy five times, and I'd bet you it will happen again.

Rule 3: Never borrow money to buy a depreciating asset

Almost everybody does this at some point. But as soon as possible, and definitely by retirement, you have to get back to a cash basis.

How many people know what a $30,000 car bought on credit costs them at age 25? In retirement dollars, at age 65 and assuming a hypothetical 10 per cent return, that financed car could cost as much as $11,314 a month in potential income. Forever!

So, do you or your children understand what an "investment" in a car really costs you? Yes, I know we all buy cars. But try to imagine what would happen if I got every 25-year-old to forgo just one car purchase and invest that same amount of money in their long-term retirement goals. What a huge difference that could make to their choices at retirement!

Rule 4: Never save money in a spending account

Keep separate bank accounts for saving and spending. You have to save in savings accounts. If you truly want those savings to grow, use an account that helps you leave the money at work, rather than a "slush fund" that's easy to dip into.

People tell me they are saving $545 a month in an account. Yet when I ask them how much they have accumulated after seven years of doing this, their answer is often $1,123 because they spend out of that same account.

It is not a save-to-save account -- it's a save-to-spend account! If you know you're not naturally a disciplined saver, make it harder to get at the money. You'll be doing yourself a favor in the long run.

Rule 5: Use half, save half

Every time you pay off a debt, get a pay raise, get a bonus, or have any excess cash, have fun with half the money, and put the other half toward your long-term goals.

This is one of the best rules, especially for younger people. By following this rule consistently, in ten years, most people are amazed at how much they can save.

Whether you save or not has nothing to do with how much money you make. Either you save or you don't. It's a habit. Make a habit of investing half of any windfall, big or small, right off the top.

Rule 6: Always use matching money

For example, your employer's 401(k) matching program (in India [ Images ], the employer's matching Providend Fund Contribution, for example).

Do whatever you must to take advantage of matched contributions in a retirement plan. You can't afford not to take the free money.

Hypothetically speaking, if you invest $100 take-home pay in a taxable investment (25 per cent tax on growth) at an assumed 10 per cent return, you would potentially have $135,586 in 30 years (sales charges and fees not included).

If you put the same $100 into your 401(k) that is 100 per cent matched, now you have $150 a month saved because of the tax savings.

Meanwhile your boss adds $150 because of the match -- and it grows tax-deferred, too! Using the same hypothetical return scenario, we have $683,797 to live on -- five times as much wealth with the same work.

Sometimes being smart with our money is a phenomenal advantage. This is a classic example of where investor behavior, not investment performance, makes a huge difference in your long-term wealth potential. You can hate your boss, or plan to quit, but you must take advantage of the matched money.

Rule 7: Do not spend more than you make

This should seem painfully obvious, but people often have no idea how much they're really spending and what relationship that has to how much they make.

In making a budget people often cannot account for 30 per cent of the money they earn and where it goes.

If you are just a little more vigilant, you can significantly enhance your long-term ability to reach your goals.

A budget doesn't happen by accident; it takes practice and is an ever-changing tool in our financial planning. Practice makes perfect. Although "perfect" is never the ideal word for a budget, it does have more meaning and usefulness the longer we practice its use.

Rule 8: Never leave undivided real property to joint beneficiaries

Lots of things are more important than money. Family is probably at the top of the list. If you want a vicious family feud on your hands, breaking this rule would be a great place to start.

Imagine a farm that gets left to four sons: One has farmed it for 20 years; one is an environmentalist and wants it to be a park; one is broke and needs money; and one could not care less about it. Who will get wealthy from this plan? The attorneys. And the kids and grandkids will probably hate each other forever.

Remember that 'equal', 'equitable', and 'fair' are three different words with three totally different meanings.

Rule 9: Never name co-trustees or co-executors of your estate

This one goes right along with the undivided property rule above. Next to poor planning, litigation can be the biggest financial drain on an estate.

Minimize the number of trusted decision-makers, and you'll reduce your chances for litigation. What's more, the entire process will be easier and more efficient with one decision-maker.

Rule 10: Above all --

--Be happy with what you have, and it will lead to both unbelievable financial success and personal (not mere financial) wealth!

[Excerpt from The Invincible Investor: 10 Top Financial Planners Reveal the Secrets of Loss-Proof Investing(www.visionbooksindia.com/details.asp?isbn=8170947456) Published by Vision Books.]

9 Ways to Pay Off Debt

noreply@blogger.com (Benson) — Thu, 06 Dec 2012 04:16:12 PST

You can throw the reminders in the Cuisinart or chuck them into a garbage can, but that won't make the debt go away. Debt hovers like a carrion bird over a dying beast, with annual rates of 20% or more compounded monthly, month in and month out. You can't wish it away. But you can pay it down with determination, our free debt-fighting resources, and the good graces of a few wealthy relatives (see tip No. 5). Here are nine ways to get out of debt:

1. Pay more than the minimumFirst, break the habit of paying only the minimum required each month. Paying the minimum -- usually 2% to 3% of the outstanding balance -- only prolongs the agony. Besides, it's precisely what the banks want you to do. The longer you take to repay the charges, the more interest they make, and the less cash you have in your pocket. Don't play their selfish game.

Instead, bite the bullet and pay as much as you can each month. If your minimum payment is $100, double that to $200 or more. Examine your normal expenses -- you can find the money. (For a gazillion ideas, check out our Living Below Your Means discussion board.) Skip eating out at lunch, and bring it from home instead. Eliminate desserts. Give up happy hour. We all have "luxuries," and you know what yours are.

Make a few sacrifices, and you will find the extra dollars needed to increase your debt repayments dramatically. Those increased payments will save you hundreds, if not thousands, in interest payments. Plus, you will get out of the hole you've dug for yourself much more quickly. Is it fun? No. But it sure beats living a hand-to-mouth existence, fearing bills each month.

2. Snowball your debt paymentsTake a long, hard look at all your credit cards. Pay particular attention to the one with the lowest interest rate. Have you reached the maximum limit on that card? If not, consider transferring a higher-interest bill to that one. Many credit cards permit this, and it's positively Foolish to trade an 18% debt for one at 12%.

If your entire balance is too large to fit on one low-interest card, pay at least the minimum amounts due on all of your cards except one. Funnel the majority of your debt repayments into that one credit card, and pay it off as quickly as possible. When the balance on that card reaches zero, move on to the next with the same aggressive repayment plan.

Lather, rinse, and repeat. This method of repayment is aptly called "snowballing." As your debts decrease, the amount of money you have to attack them increases. Your payments snowball until all of your debt is pummeled. Pretty neat, eh?

Another way to transfer higher-interest debt to a lower-interest card is to take advantage of the promotional offers many banks use to entice you to their line of credit. You've seen the come-ons. "Transfer all your credit card balances to us, and pay just 5.9% until next January." It could be worth it. Moving to 5.9% from 18% interest could mean substantial dollars to you. And the money saved in interest could then be applied toward the principal each month, thus reducing your outstanding debt balance even further.

Take care, though, before you act. Examine the offer closely. Look for the hooks. Will the interest rate after the introductory period be higher than you're paying now? If so, you may have to switch again at that time. That, in turn, could give rise to another surprise. Banks have caught onto the charge card hoppers who switch from card to card to take advantage of the low introductory rates. Many of these offers now stipulate that if you transfer balances from the new card within a 12-month period, the normal interest rate will be applied to all outstanding balances retroactively. That proviso could be a bitter pill to swallow for someone short on cash, and it certainly doesn't help the debt repayment schedule. Read the fine print, Fool.

3. Cash out your savings accountYou could cash out your savings and investments and use the proceeds toward debt repayment. Yeah, no one wants to do that. But sometimes it's just Foolish to do so. Even when debt interest is at 12%, your investments would have to pay more than 18% before federal and state taxes to equal that outflow of dollars. We doubt the dollars in your savings account are earning anywhere near that rate of interest. Pay off the debt, and it's the same as getting that 18% return without any risk on your part. The higher the interest rate on your debt, the more attractive repayment versus investment becomes.

4. Borrow against your life insuranceDo you have life insurance with a cash value? If so, borrow against the policy. Yes, you're borrowing your own money. But the interest rate is typically well below commercial rates, and you can take your time repaying the loan. Do repay it, though. If you die before it's repaid, the outstanding balance plus interest will be deducted from the face value of the policy payable to the beneficiary. While that seems a small price to pay to get out of debt now, it could be burdensome to your loved ones should you sleep the eternal sleep before paying it back.

5. Finagle family and friendsPerhaps your family or friends could float you a loan. Who else knows, trusts, and loves you like they do? Unless you're really the black sheep of the flock, chances are you'll get a very favorable interest rate. They may even tolerate a late payment or two. But if you want to maintain the relationship, it's best to keep things on the straight and narrow by using a written agreement. You should clearly establish the interest and repayment schedule in writing to avoid misunderstandings and hard feelings. And it goes without saying that you must be scrupulous about adhering to that schedule. Otherwise, you can forget the family reunions and birthday presents.

6. Get a home equity loanDo you own your own home and have equity that's accumulated through the years as you've paid off the mortgage? If so, now's the time to consider a home equity loan (HEL) line of credit for the maximum amount possible.

A HEL gives you two ways to save. First, by using the loan proceeds to pay down your debt, you trade something like an 18% loan for a 6%-7% loan. Second, if you itemize deductions on your income tax returns, HEL interest is a deductible item under most circumstances. In a 25% marginal tax bracket, the 6% loan really has an effective rate of 4.5%, and that's probably the cheapest interest rate you'll see on personal indebtedness.

The danger here is falling into a common trap. Many get an HEL, pay off existing debt, and then ring up the charges on the credit cards all over again. Now they have the HEL to repay on top of the credit cards. The hole just got much deeper. Fools use the HEL to pay off the credit cards, and then keep them paid off until the HEL is repaid.

7. Borrow from your 401(k)Do you participate in a 401(k) qualified retirement plan at work? Most 401(k) plans have a feature that lets you borrow up to 50% of the account's value, or $50,000, whichever is smaller. Interest rates are usually a point or two above prime, which makes them cheaper than that found on credit cards. Thus, 401(k) plan loans may be a Foolish option to debt repayment. Not only is the interest typically much lower than that on credit cards, the best part is you pay it to yourself. That's right, every dime in interest paid on a 401(k) loan goes directly into the borrower's 401(k) account, not the lender's.

But there are drawbacks. First, the loan and interest will be repaid with after-tax dollars, but the interest will be taxed again when you withdraw money from the 401(k) years later. Additionally, you must repay this loan within five years. If you leave your employment prior to full repayment, the outstanding balance becomes due and payable immediately. If it's not repaid, that amount will be treated as a distribution to you. You'll be taxed on that amount at ordinary rates. And if you're under the age of 59 and one-half years, you will also be assessed an additional 10% excise tax as a penalty for an early withdrawal of retirement funds. Accordingly, ensure any 401(k) loan can be repaid before you leave your job.

8. Renegotiate terms with your creditorsOK, you've done all you can. Savings are gone; relatives have been tapped out; you don't have a home or 401(k) to borrow against. You feel like you're against that proverbial wall. The money just isn't there. Is bankruptcy the only way out? No way. Try pulling an ace out of your sleeve prior to taking that step. What ace? The threat of bankruptcy, of course.

Let your creditors know your situation. Tell them that if you are unable to renegotiate terms, you'll have no other recourse but to declare bankruptcy. Ask for a new and lower repayment schedule; request a lower interest rate; and appeal to their desire to receive payment. Faced with the prospect that you may resort to such a drastic step, creditors will do what they can to protect themselves against a total loss.

Indeed, many will negotiate away the farm before they'll write off your debt. As lawyers love to say, everything is negotiable. Therefore, what do you have to lose, except time? It's worth a try. And if you don't wish to do this yourself, organizations exist that can do it for you.

9. As a last resort, file bankruptcyWhat if you decide you can't pay down your debt using any of the methods listed above? What should you do? The absolute last resort is bankruptcy. Within Fooldom, we firmly believe everyone has a moral obligation to repay their debts to the utmost of their ability. There are times, though, when repayment may be impossible. In those cases, bankruptcy may be the only available course of action. Nevertheless, be aware of the significant drawbacks.

Your credit record will contain this information for 10 years, thus ensuring you will have a tough time obtaining credit you can afford during that period. Additionally, as odd as it seems, it costs money to file for bankruptcy. Attorney and court filing fees cost in the hundreds of dollars, and they must be paid to obtain the relief sought. Finally, bankruptcy laws have gotten a lot tougher in recent years, so you may not qualify for complete relief.

There are two types of personal bankruptcy relief: Chapter 7 and Chapter 13. Chapter 7 is straight bankruptcy that allows the discharge of almost all debts. Those that aren't discharged are alimony, child support, taxes, loans obtained through filing false financial statements, loans not listed in the bankruptcy petition, legal judgments against the petitioner, and student loans.

While Chapter 7 relieves you of the responsibility of repaying most creditors, you may have to surrender much of your property to help satisfy the debt. However, different states have different laws that grant you exemptions on certain types of property, such as a certain amount of equity in your home, a low-value vehicle, small amounts of jewelry and other personal property, and tools you use in your trade or business. These exemptions usually aren't huge, but they do mean you won't have to start over with absolutely nothing.

Chapter 13, sometimes called the "wage-earner plan," is different. You keep your property but surrender control of your finances to the bankruptcy court. The court approves a repayment plan based on your financial resources that provides for repayment of all or part of your debt over a three-to-five-year period. During that time, your creditors are not allowed to harass you for repayment. You also incur no interest charges on the indebtedness during the repayment period. When all conditions of the court-approved plan have been fulfilled, you emerge debt-free from the bankruptcy.

This article is adapted from a David Braze article. It has been revised.

Top 5 Saving Tips by Warren Buffet

noreply@blogger.com (Benson) — Fri, 16 Nov 2012 06:29:36 PST

Do you want to know the financial secret of one of the world’s wealthiest man? Are you ready to move out of debt and into financial emancipation? If so, then read on and change your life.

Warren Buffett is considered to be one of the world’s most successful investors in the world. In spite of his wealth, he is known for his frugality. His financial empire spans decades and continues to increase. The way he lives his life is a testament to sound money management that everyone can learn from.

Money Saving Tip #1: Practice Living A Simple Life

What would you do if you have billions of dollars at your disposal? Chances are you’ll have a lifestyle makeover. Although this is often the case when people find fortune, Warren Buffett advices people to remain modest in living. Lavish spending will delete your savings faster than you could ever imagine. Moreover, living a simple life puts your feet on the ground and keeps you in touch with the rest of humanity – those that don’t have wads of cash tucked in every pocket.

Money Saving Tip #2: Avoid Compulsive Buying

Although this tip of the Billionaire is on stock trading and investment, it can be used for other aspects of financial gains. For him, patience is important for anyone who wants to be successful and financially free. Finding the right time to buy is equally important. His idea on stock investment and on waiting for the right timing to buy can be used in everyday life. For example, instead of simply buying items simply because they attract you is not a good buying decision (if there are any decisions being made). Likewise, waiting for the right moment when the prices are more appealing will save you a lot of money. So scout out sales and dropped prices before you swipe your credit card or pay cash.

Money Saving Tip #3: Buy What Is Important To You

The value of this advice goes beyond cost and savings. Of course finding something that you find valuable is important. But it is likewise, wise to find items that you want to keep for life. As items you buy are investments in themselves, make sure you purchase those that will last you a lifetime. This underscores the difference between cost and value – the former simply being the amount you’ve paid while the later is the actual importance to you.

Money Saving Tip #4: Learn To Save

Even a man of unimaginable wealth knows how to save money. In fact, learning to save is something everyone is advised to do. But the reality is, not everyone gets to save. Warren Buffett in spite of being at the top of the financial food chain saves money.

Money Saving Tip #5: Being An Investor

Warren Buffett is no stranger to risks. Just like anyone, his daily life is wrought with financial difficulties and risks that can shatter anyone’s confidence. But of course with billions of dollars backing him up, it’s quite hard to rattle this investment legend. But the bottom line is he understands and respects these risks that he himself lives a frugal life and continues to save.

Are you a person who is willing to learn from a successful man? If so, then presented here are some of life’s simple yet powerful advice on financial success. Most people have heard a variation of these tips and suggestions. However, many don’t put them into action. The difference between most people and Warren Buffett is that he takes saving seriously. Perhaps

it’s about time that you too take finances seriously.

Adapted From: http://www.selfgrowth.com

Galaxy S3 is the World Best Selling Smartphone

noreply@blogger.com (Benson) — Fri, 09 Nov 2012 18:11:30 PST

(Reuters) - Samsung Electronics' Galaxy S3 became the world's best-selling smartphone model last quarter, pushing aside Apple Inc's iPhone, which has dominated the chart for more than two years, research firm Strategy Analytics said on Thursday.

Strategy Analytics estimated Samsung sold 18 million S3 models in the third quarter, compared with iPhone 4S sales of 16.2 million.

Strong sales of the flagship Galaxy S3 - which comes with a large 4.8 inch touchscreen - helped Samsung post a record $7.3 billion operating profit in the July-September quarter.

"Samsung's Galaxy S3 has proven wildly popular with consumers and operators across North America, Europe and Asia," said analyst Neil Mawston, adding the new iPhone 5 would likely reclaim the top spot for Apple in the current quarter. (Reporting by Tarmo Virki; Editing by David Holmes)

With the death of apple strategist' s Steve Job, can Apple continue to dominate smart phone market ???

Source: Yahoo.com

21 Ways Rich People Think Differently

noreply@blogger.com (Benson) — Tue, 06 Nov 2012 05:54:42 PST

World's richest woman Gina Rinehart is enduring a media firestorm over an article in which she takes the "jealous" middle class to task for "drinking, or smoking and socializing" rather than working to earn their own fortune.

What if she has a point?

Steve Siebold, author of "How Rich People Think," spent nearly three decades interviewing millionaires around the world to find out what separates them from everyone else.

It had little to do with money itself, he told Business Insider. It was about their mentality.

"[The middle class] tells people to be happy with what they have," he said. "And on the whole, most people are steeped in fear when it comes to money."

Flickr / C. Pajunen1. Average people think MONEY is the root of all evil. Rich people believe POVERTY is the root of all evil.

"The average person has been brainwashed to believe rich people are lucky or dishonest," Siebold writes.

That's why there's a certain shame that comes along with "getting rich" in lower-income communities.

"The world class knows that while having money doesn't guarantee happiness, it does make your life easier and more enjoyable."

2. Average people think selfishness is a vice. Rich people think selfishness is a virtue.

"The rich go out there and try to make themselves happy. They don't try to pretend to save the world," Siebold told Business Insider.

The problem is that middle class people see that as a negative––and it's keeping them poor, he writes.

"If you're not taking care of you, you're not in a position to help anyone else. You can't give what you don't have."

Getty Images3. Average people have a lottery mentality. Rich people have an action mentality.

"While the masses are waiting to pick the right numbers and praying for prosperity, the great ones are solving problems," Siebold writes.

"The hero [middle class people] are waiting for may be God, government, their boss or their spouse. It's the average person's level of thinking that breeds this approach to life and living while the clock keeps ticking away."

4. Average people think the road to riches is paved with formal education. Rich people believe in acquiring specific knowledge.

"Many world-class performers have little formal education, and have amassed their wealth through the acquisition and subsequent sale of specific knowledge," he writes.

"Meanwhile, the masses are convinced that master's degrees and doctorates are the way to wealth, mostly because they are trapped in the linear line of thought that holds them back from higher levels of consciousness...The wealthy aren't interested in the means, only the end."

I Love Lucy screencap5. Average people long for the good old days. Rich people dream of the future.

"Self-made millionaires get rich because they're willing to bet on themselves and project their dreams, goals and ideas into an unknown future," Siebold writes.

"People who believe their best days are behind them rarely get rich, and often struggle with unhappiness and depression."

6. Average people see money through the eyes of emotion. Rich people think about money logically.

"An ordinarily smart, well-educated and otherwise successful person can be instantly transformed into a fear-based, scarcity driven thinker whose greatest financial aspiration is to retire comfortably," he writes.

"The world class sees money for what it is and what it's not, through the eyes of logic. The great ones know money is a critical tool that presents options and opportunities."

7. Average people earn money doing things they don't love. Rich people follow their passion.

"To the average person, it looks like the rich are working all the time," Siebold says. "But one of the smartest strategies of the world class is doing what they love and finding a way to get paid for it."

On the other hand, middle class take jobs they don't enjoy "because they need the money and they've been trained in school and conditioned by society to live in a linear thinking world that equates earning money with physical or mental effort."

8. Average people set low expectations so they're never disappointed. Rich people are up for the challenge.

"Psychologists and other mental health experts often advise people to set low expectations for their life to ensure they are not disappointed," Siebold writes.

"No one would ever strike it rich and live their dreams without huge expectations."

BarackObamadotcom via YouTube9. Average people believe you have to DO something to get rich. Rich people believe you have to BE something to get rich.

"That's why people like Donald Trump go from millionaire to nine billion dollars in debt and come back richer than ever," he writes.

"While the masses are fixated on the doing and the immediate results of their actions, the great ones are learning and growing from every experience, whether it's a success or a failure, knowing their true reward is becoming a human success machine that eventually produces outstanding results."

10. Average people believe you need money to make money. Rich people use other people's money.

Linear thought might tell people to make money in order to earn more, but Siebold says the rich aren't afraid to fund their future from other people's pockets.

"Rich people know not being solvent enough to personally afford something is not relevant. The real question is, 'Is this worth buying, investing in, or pursuing?'" he writes.

11. Average people believe the markets are driven by logic and strategy. Rich people know they're driven by emotion and greed.

Investing successfully in the stock market isn't just about a fancy math formula.

"The rich know that the primary emotions that drive financial markets are fear and greed, and they factor this into all trades and trends they observe," Siebold writes.

"This knowledge of human nature and its overlapping impact on trading give them strategic advantage in building greater wealth through leverage."

12. Average people live beyond their means. Rich people live below theirs.

"Here's how to live below your means and tap into the secret wealthy people have used for centuries: Get rich so you can afford to," he writes.

"The rich live below their means, not because they're so savvy, but because they make so much money that they can afford to live like royalty while still having a king's ransom socked away for the future."

richkidsofinstagram.tumblr.com13. Average people teach their children how to survive. Rich people teach their kids to get rich.

Rich parents teach their kids from an early age about the world of "haves" and "have-nots," Siebold says. Even he admits many people have argued that he's supporting the idea of elitism.

He disagrees.

"[People] say parents are teaching their kids to look down on the masses because they're poor. This isn't true," he writes. "What they're teaching their kids is to see the world through the eyes of objective reality––the way society really is."

If children understand wealth early on, they'll be more likely to strive for it later in life.

14. Average people let money stress them out. Rich people find peace of mind in wealth.

The reason wealthy people earn more wealth is that they're not afraid to admit that money can solve most problems, Siebold says.

"[The middle class] sees money as a never-ending necessary evil that must be endured as part of life. The world class sees money as the great liberator, and with enough of it, they are able to purchase financial peace of mind."

Kim Bhasin / Business Insider15. Average people would rather be entertained than educated. Rich people would rather be educated than entertained.

While the rich don't put much stock in furthering wealth through formal education, they appreciate the power of learning long after college is over, Siebold says.

"Walk into a wealthy person's home and one of the first things you'll see is an extensive library of books they've used to educate themselves on how to become more successful," he writes.

"The middle class reads novels, tabloids and entertainment magazines."

16. Average people think rich people are snobs. Rich people just want to surround themselves with like-minded people.

The negative money mentality poisoning the middle class is what keeps the rich hanging out with the rich, he says.

"[Rich people] can't afford the messages of doom and gloom," he writes. "This is often misinterpreted by the masses as snobbery.

Labeling the world class as snobs is another way the middle class finds to feel better bout themselves and their chosen path of mediocrity."

Flickr / Wei Tchou17. Average people focus on saving. Rich people focus on earning.

Siebold theorizes that the wealthy focus on what they'll gain by taking risks, rather than how to save what they have.

"The masses are so focused on clipping coupons and living frugally they miss major opportunities," he writes.

"Even in the midst of a cash flow crisis, the rich reject the nickle and dime thinking of the masses. They are the masters of focusing their mental energy where it belongs: on the big money."

18. Average people play it safe with money. Rich people know when to take risks.

"Leverage is the watchword of the rich," Siebold writes.

"Every investor loses money on occasion, but the world class knows no matter what happens, they will aways be able to earn more."

Flickr / Ibrahim Iujaz19. Average people love to be comfortable. Rich people find comfort in uncertainty.

For the most part, it takes guts to take the risks necessary to make it as a millionaire––a challenge most middle class thinkers aren't comfortable living with.

"Physical, psychological, and emotional comfort is the primary goal of the middle class mindset," Siebold writes.

World class thinkers learn early on that becoming a millionaire isn't easy and the need for comfort can be devastating. They learn to be comfortable while operating in a state of ongoing uncertainty."

20. Average people never make the connection between money and health. Rich people know money can save your life.

While the middle class squabbles over the virtues of Obamacare and their company's health plan, the super wealthy are enrolled in a super elite "boutique medical care" association, Siebold says.

"They pay a substantial yearly membership fee that guarantees them 24-hour access to a private physician who only serves a small group of members," he writes.

"Some wealthy neighborhoods have implemented this strategy and even require the physician to live in the neighborhood."

Getty Images21. Average people believe they must choose between a great family and being rich. Rich people know you can have it all.

The idea the wealth must come at the expense of family time is nothing but a "cop-out", Siebold says.

"The masses have been brainwashed to believe it's an either/or equation," he writes. "The rich know you can have anything you want if you approach the challenge with a mindset rooted in love and abundance."

From Steve Siebold, author of "How Rich People Think."

How to get Your first car for FREE In Malaysia

noreply@blogger.com (Benson) — Sun, 28 Oct 2012 03:34:58 PDT

Before making a down payment for a new car purchase, please consider getting a used vehicle. The secret is to take advantage of the no-claim discount or NCD.

The tactic here is to use a very cheap old car and pay low insurance premium for the first five years. When you've reach the maximum no claim discount, only then would you pursue your dream car.

Example:

Buying a 15 year old proton sage 1.5l (automatic, power steering)

Cost: RM5,000 (pay cash)

Insurance: RM277.50 (comprehensive) or 3rd party which is cheaper.

Maintenance cost for an old car is much lower than the interest payment for a new car. After 5 years,

buy your dream car.

Example:

Buying a new Honda Civic 1.8 iVtec

Cost: RM113,800

Insurance: RM3,225.90

After a NCD, you get a 55% discount. This means you only need to pay RM1,451.65 and you save RM1,774.25 every year onwards for car insurance premium alone!

RM1,774.25 x 3 = RM5,322.75. With only three years, you already save that much assuming you did not kiss other people's car and enjoy the full NCD, and did not make a claim. So you can consider your 1st car FREE!

Credit To kclau- Money Tips for Malaysian

Warren Buffett's Timeless Advice: 'Don't Make This Mistake'

noreply@blogger.com (Benson) — Thu, 25 Oct 2012 04:29:52 PDT

CNBC/Lacy O'Toole

Warren Buffett and Becky Quick

Warren Buffett has some timeless advice for investors that he can't repeat too many times.

At the end of his live, two-hour appearance with Becky Quick on CNBC's "Squawk Box" this morning, she gave him a chance to do a free association reaction to a single word: "buy."

Here's his response:

"I say, basically, 'hold.' The idea that the European news or slowdown in this or that or anything like that, that would not cause you to, if you owned a good farm and had it run by a good tenant, you wouldn't sell it because somebody says, 'Here's a news item,' you know, 'This is happening in Greece' or something of the sort.

"If you owned an apartment house and you got to raise the rents a little and it was well located and you had a good manager, you wouldn't dream of selling it.

"If you had a good business personally, a local McDonald's franchise, you wouldn't think of buying or selling it every day.

(Read more: Berkshire's Biggest Stock Holdings)

"Now, when you own stocks, you own pieces of businesses, and they're wonderful businesses. You can pick the best businesses in the world.

"And to buy or sell on current news is just crazy. You're in a wonderful business. You've got people running it for you. You know you're going to do well over five to ten years. And to think news events should cause you to dance in or out of something that's a wonderful game is a terrible mistake.

"So, get into a bunch of wonderful businesses and stay with them...

"I've been buying all my life. I bought my first stock when I was 11-years old and it was about three months after Pearl Harbor, and Corregidor was falling, and they had the Death March at Bataan and all the news was terrible. It was a great time to buy stocks. And I should have held that stock forever, and I've been buying stocks ever since."

Source: http://www.cnbc.com

5 Apps That Help You Manage Your Money

noreply@blogger.com (Benson) — Tue, 09 Oct 2012 07:20:25 PDT

After two weeks yelling at Siri to “make me some cash”, I gather it’s not going to happen. Apple really shouldn’t release these features before they’re ready. And the finance apps aren’t any better; I’ve downloaded like 500 of them, but the only difference is my bank account shrunk by $495. Still, there are solid apps that stand out from all the rubbish in the store; and I have five of them listed here:

In our next upgrade, Siri swears at you on full volume when you swipe your credit card.

1. Lemon.com Wallet

Lemon, yeah, that describes the condition of most Singaporeans’ savings. Going sour. Anyway, the lemon app creates a digital backup of your wallet.

Lemon lets you scan and categorize your credit and debit cards. There’s a PIN to view the card details, which stops this app from taking first place in Identity Thieves Quarterly. The upside to this is that you don’t need to dig out your cards all the time: If you’re at the AXS machine, for example, you can check your phone and enter details instead of using the card.

It also works for things like ICs. Sort of. The images can be fuzzy, and for some reason the App’s default label for my IC was “Batman”. Huh.

Squint harder. Feel free to invade my privacy and all.

Lemon also lets you scan receipts, and tallies them for you. You can opt to see the accumulated receipts over the last 7 days, 30 days, or on a specific month and year. For convenience, divide them into your own expenditures and your family’s expenditures.

Apart from some teething problems (it can take annoyingly long to scan some receipts), this is a solid money management app. Oh, and it’s free.

2. Piggie

As in Piggy Bank. This is a budget management app; what makes it stand out is simplicity.

Open Piggie and you’ll see many lists of expenditures. You can check the history of your expenses by day, week, month, or year. Piggie also draws up a Today vs. Yesterday comparison, so you can see if that new credit card is throttling your common sense.

Below the list are two buttons: One to input new income or memos, and another to key in expenses. Try to input an expense, and the app will ask you for a category: Dining out, groceries, petrol, etc. It’s quick and painless to input expenses, which is what makes Piggie shine: Just tap the category and you’re done.

Piggie needs an accumulation of data to get going. But it’s easy to read.

My only gripe with this app are the instructions. Mainly, they don’t frigging exist. After the download, you’re left to figure everything out on your own. I wouldn’t have spotted the wireless Dropbox sync without 20 minutes of aimless twiddling.

Piggie is very basic; but unless your personal finance involves stock movements or something, it’s decent. It’s temporarily free in the App store, so get it now.

3. Toshl

The main point of Toshl is seeing where your money’s going. I already know the answer to that (out of my wallet is where) but Toshl makes it specific.

After Toshl gathers sufficient data (use it for a month or so), it draws up some spending graphs. Toshl tracks what categories you’re spending money in, how you spent most of it, and when you spent it. This is displayed in a bar graph.

I also like that Toshl uses a time graph:

Input is pretty straightforward; when you buy something, just enter the price and tap the appropriate tag. On that note: I do wish there were some pre-loaded tags; it’s annoying have to create them all from scratch. But once you have a range of tags it’s easy to just select from them.

You can also pre-set a budget. For example, you could key in “Budget for food: $200″. Then every time you buy something and hit the “food” tag, it automatically subtracts from the food budget. The remaining amount in any budget is displayed like a life bar in a video game; quick and easy to check.

You can also select multiple tags for one purchase, in case you have multiple budgets going. So say I have a budget for “comics” and “novels”. If I input “books” as an expense, it could be set to deduct from both budgets.

Toshl is free; if something’s burning a hole in your pocket, use this to find the culprit.

4. Spendings

This is the most streamlined, no-frills personal finance app. Even Piggie looks more decorated than this.

Download Spendings and you get a tri-colour (black, white, and blue) list. It tracks your budget. If you want multiple budgets, you’ll need to buy the $0.99 upgrade; a bit off-putting, when apps like Toshl give you such features for free.

About as exciting as a pocket calculator I’m afraid…

As with Piggie, there are no instructions. But no complaints there, because a chimpanzee could figure out how to work this. When you first open it, the app asks you a bunch of questions: Your name, how much you make, your payment cycles…just like talking to a gold digger at a speed dating event.

Once it’s all recorded, you just input expenses as they come; the app automatically subtracts from your budget. That’s it. The basic version of Spendings is free in the app store.

5. Oranges 2 Apples

Oranges 2 Apples is from Dan Ariely, who wrote Predictably Irrational. The app counters the inherent lack of logic in our buying behaviour.

When you open the app, you’re asked to list your favourite things at different price ranges. The next time you want to buy something expensive, just input the amount. The app gives you a range of lower priced alternatives. For example:

Based on my earlier entries, these are the alternatives the app gives me:

Who the hell buys half a computer accessory?

Keep insisting on buying, and the app will keep throwing alternatives in your face. So you’ll eventually be cured of the desire to overspend.

This app is free; so if you’re an impulsive shopper, download it.

Source: Yahoo Fiance