For Your Information

Predictably Irrational

2013-06-03T22:47:00.000+08:00

Finally finished this book. Nice read. Helps you understand why people don't behave as expected.

Why sometime you buy the 2nd cheapest item. Why its no fun eating out and taking turns ordering to the waiter...

Easy to understand, backed by data, and simple experiments, plus entertaining.

There are interesting case studies, that you can implement yourself.

I tried the Pepsi / Coke Blind test with some adjustments to fit the environment and sample side I had. Of a sample size of 17 students, I first asked them to jot down whether they preferred Pepsi or Coke. Then I asked them to leave the classroom, poured Pepsi and Coke into cups with markings only I understood. The students returned to the classroom and have themselves two cups without knowing which was Pepsi and Coke (but knew that the cups were either Coke or Pepsi).

The results were dramatically different. 1. Firstly when asked to just jot down their preference - 12 prefered Pepsi. 5 preferred Coke. 2. In the blind test, 13 out of the 17 students matched their actual preference and what they preferred in the blind test. There were 4 mismatches, equally divided (2 for coke 2 for Pepsi).

What's your thoughts?

My thoughts - Firstly the test is conducted in Malaysia, where both Pepsi and Coke have a strong brand presence, but maybe Coke's presence is similar to Pepsi. So possibility is that Pepsi has in Malaysia what 'Coke has in USA - a 'mental preference'. Or the sample size really do know their preference, and might be less swayed by marketing....

59 Seconds by Richard Wiseman

2013-05-19T02:06:00.000+08:00

This post is not only about the review about the book, but also about myself putting into implementation the 59seconds guide in the book.

Firstly a big thank you to the organizers of Big Bad Wolf (Penang) that made such good books so affordable. One of the books I was enticed to purchase was 59Seconds, sounds very much like the movie 'Gone in 60 Seconds'. Wonder if it was intended. The main reason I bought this was it was based on more scientific data and had quick fixes and implementation guide, so not all theory only.

Yeah, you might have figured by now, its a self-help guide book. So far I have found it quite informative. For beginners try to hold a pencil (unleaded?) or pen with your teeth not letting your lips touch the pen. Besides making you a better kisser (joking) it forces you to smile. Theory is if you are happy you smile. AND if you smile you will also feel happy. Give it a try. See, not only did reading my blog make you smile, the theory works, i.e now you feel happier. So keep it up - bitting a pen / pencil and reading my blog.

Ok, so main reason I'm writing this entry, is to put the motivation chapter implementation into practice. Firstly its recommended to write down (or type or post it - i.e what you want to improve / achieve) based on a certain format based on research. Focus more on :

Making a step by step plan rather then focusing on an idol e.g a great leader.
Tell other people about your goal - yes so I am blogging here about the goal. And plan to come back to this entry an update you on the progress / achievement. Avoid thinking about the bad things that will happen if I don't achieve my goal.

Note - you should still be in touch with the bad things that would happen on the path to achieving your goal - 2 different things padre.

Think about the good things that will happen if I achive my goal and avoid trying to suppress unhelpful thoughts (e.g avoid thinking about being lazy).

So here it seems the more negative you think, the more you ponder in the negative zone - something like the SECRET book / DVD eh?
Be objective about the good things and avoid letting it be picture perfect (I found the book a little contradictory here against not doing item 10)

Rewards yourself after making progress toward your goal.
Record your progress - this blog will be the avenue to record me progress..

So lets use the 59seconds template provided ok?

What is your overall goal

My overall goal is to be a well sought after lecturer (part time also can). In a nut shell, I want to be a real good educator, lecturer and motivator, that I am ranked and recommended highly by my students, 'disegani' among the academia, and am able to produce results via the students exam results and also the observable improvements in the students' themselves. E.g people noticing the improvement in the personality, vision and results of the students. And the climax of it - bumping into a successful student.

So now break it into SMART sub -goals. Feels like doing PM (performance planning) / Focal!

STEP 1

First sub goal - is to get opportunity and to lecture at a couple of universities and colleges. Among others Olympia and UiTM seems possible prospects, but not limited to them. Private colleges have usually got twinning with foreign universities, so this will also potentially open up wider avenues.

I believe I can achieve this goal because, I now have lecturing experience and it will be a good stepping stone.

To achieve this sub-goal I will update my resume, respond to offers and continue to actively be on the look out for opportunities and 'kangtau'.

This will be achieved by Sept 2013.

My rewards for achieving this is a treat to family, friends and myself - a MAKAN treat!

STEP 2

2nd sub goal is - to ensure that my lectures are highly regarded, impactful and self satisfying. Ensure I add value to my lectures, keep them interesting and yet deliver the content.

I believe I can achieve this goal because though I am busy, I am passionate and totally enjoy lecturing. My MBA, and personal affliction with business subjects will be the main basis on delivering this.

To achieve this sub goal I will need to be constantly keeping up to date on

i. Lecturing techniques - Listen to ted.com on teaching / lecturing topics.

ii. Stay abreast on the topics I am teaching - related to real life examples, people and stories.

iii. Continue reading informative books and sites, and conduct some of the experiments in the books during class which would be related - e.g differing results of blind test and non blind test for pepsi versus coke.

iv. Look for interesting videos.

v. Ensure class participation - group presentations. Discussions etc.

vi. Yet be strict and set early expectations and ground rules.

This will be achieved in my lectures, by completing a couple of them by Sept 2013 and continue on.

My rewards for achieving this will be self satisfaction and a holiday trip + chocolates.

STEP 3.

Begin and complete my PhD or Doctorate.

I believe I can achieve this ....do I ? I can achieve this since I will have had lots of experience and in depth reading and teaching on subjects. My PhD focus yet to be determined but could be dependent on my interest at that time.

To achieve this sub goal I will start looking for interesting and suitable titles, continue reading, talking to people in the academia, see any work related stuff can do with company grant? Figure out on supervisors, Uni, sponsorship. I'm not much into long term research so I will plan out in detail with milestones, dates and things to achieve. Need to find a topic I enjoy so will keep the engine going.

This will start in 2015 and complete by 2019. Full time?

My reward for achieving this will be being a Doc!

STEP 4

COMPLETE - A fully recognized, sought after lecturer, with great lecturing and the academia backing! Even recommended by foreign Uni!

What are the benefits of achieving your overall goal. List 3 important benefits, focusing on how much better life will be for you and those around you. Focus on enjoying the benefits associated with your desired future rather than escaping the negative aspects of your current situation.

I can decide on going full time or part time this plus stay in the industry. Being well-marketed, I can choose and decide.

Will have good financial steady income, and have decent fall back options available.

Contribute to the society - making a change - doing my part!

Going public - I just did with this entry!

Ok that's all for this entry. Wish me luck, keep me motivated, and if you know me personally, tell me am I crazy or on the right track. Once a friend called Shahril Izuan told me during my undergrad mock lecturing I should lecture. Some things come a long way. Wonder if he even remembers... Thank you anyway.

My better half also always tells me I have a unique way of motivating people... :)

Pairing Your Maybank Amex with OCBC Titanium

2013-01-08T13:58:00.003+08:00

As I wrote in my previous entry about the best credit card option currently being Maybank, here is a usage strategy we're using to maximize our returns.

Firstly what you'd do is setup all your auto billing to OCBC Titanium. NOW if you are like me and your total autobill does NOT hit RM1,000 then the above table should be applied. If your autobilling hits RM1,000 with your OCBC card, my suggestion is to put your OCBC card aside (except for autobill payments) and use your AMEX all the way!. Autobilling includes Astro, TM, Unifi, TNB, Digi, - i.e utilities, which you'd expect 5% cash back. Both OCBC and AMEX cash back is capped at RM50, with AMEX still giving treat points with no cap.

Ok so now lets say your auto billing does not reach RM1,000, then lets get started on the below table.

*By preference, #1 being first preference.

Just a quick explanation on my reasoning.

Firstly for weekends, AMEX wins hands down, as you get 5% cash back on top of 5x treat points.

For electronic item purchases, read thru AMEX T&C, as it has got a good coverage for extended warranty. With this in mind, I'd suggest use your AMEX for anything that would come with a warranty that AMEX would provide an extended warranty on top of this (remember to keep your receipts, if in doubt call the customer service).

Obviously on weekday's for groceries, petrol and dining, use your OCBC to max out your 5% cash back. However for Jusco, just stick to AMEX as OCBC only gives 1% for Jusco Aeon (at least the one near me) instead of the 5%. I called to check and it seems this is due to Jusco AEON vendor code is deparmental store and not groceries.

For any other purchases on weekday, AMEX is better coz according to most reviews AMEX 5x treat points is close to 2.5% cash back, which is better then OCBC 1% for other items.

For online purchases, I am pretty reluctant to use my AMEX as, as last I checked, you DO NOT get a on-time-password sms'ed to you for verification like your Visa / Mastercard. So i fear more easily for fraudsters to target AMEX.

For overseas, as we know AMEX has a higher commission charged compared to Visa / Mastercard. So last choice. Here I'd be split between Maybank Visa / Mastercard against OCBC. You'd need to figure out which bank offers a better conversion rate ( just call and ask what's the current conversion rate). Also supposedly for OCBC Titanium you can still enjoy the cash back 5% for petrol, dining and groceries purchases overseas.

Note I have tried to make the matrix as simple as possible. Do share any thoughts if there is a better strategy you can think of.

This is an entry under Value Tips which has got quite a number of blog entries and sharings on how to make your money work best, and saving $$. If you found this entry do like it / share in on FB or twitter and spread the word around.

Quick One - Increase your returns by 5x

2013-01-04T01:22:00.000+08:00

Here's a quickie blog post. The engine's hot and running, full of steam, so lets put in one more Value Tips Entry . If you maintain a minimum average of RM2,000 in your savings account at least for a month, then read on.

I've had a Maybank account for ages. Actively started using it as my pay went thru there. Never thought about it as something to consider seriously for 'savings'. Then I came across http://generationsxyz.blogspot.com/ a very informative blog. So how do you up your returns easily by ~5x?

Here goes, most of us who have a Maybank Savings account started off with a Kawanku Savings account or a Savings Account-i. Here's a quick summary (as of date of this blog entry)

For KawanKu :

And above for Savings-i, source Maybank Savings-i & Maybank Kawanku.

So if you had anything up to RM10,000 the max you'd be getting is 0.4% per annum. Put simply, RM40 returns per year or a meager RM3.3 monthly.. Now if you had RM2,000 that would be RM8/year or less then RM1 per month.. Wow that is little.Probably can't cover your ATM withdrawal or yearly ATM card fees. So now HOW DO YOU INCREASE YOUR RETURNS BY 5x? Usually if it sounds too good to be true, I am doubtful, but from what I've experienced it is true.

Just open up a Maybank2u Savers / Savers-i account. YES it sounds that simple and is simpler to do.

If you maintain RM2,000 min, you get an indicative return of 2.1% per month for the Islamic and 2.1% for conventional. That's 5x more right? 2.1/0.4 = >5x!

Source M2u Savers & M2u Savers-i

To put things into perspective, if you had RM10,000 your returns per annum would be 10,000*2.1% = RM210. Or monthly RM17.5. Now if you maintained RM2k, RM42 per year or RM3.50 monthly. Decent to at least cover your transactional chargers. The plus point is it is based on daily rest and paid out monthly, so if you can't maintain the minimum for the whole year, you still get paid 2.1% for whatever months you do maintain a min of RM2,000. Also I prefer the M2u Savers-i because firstly it's Islamic, and secondly it still gives a 'nominal' 0.4% if you can't maintain min RM2k versus the conventional where you get a 0% it seems.

Note there are some limitation, which to me is manage-able, e.g no passbook all online. You can easily transfer from this account to your still active KawanKu savings. I haven't checked if this account is accesible thru MEPS ATM (non Maybank). If from Maybank ATM, choose Lain-Lain Akaun/ Amaun and select amount and account if you want to withdraw from here.

So now the big qs - soalan cepu emas. How do you setup this m2u savers account. Sorry to disappoint you but its too easy.

How do I apply for m2u Savers-i?

To apply m2u Savers-i, please follow these few simple steps:

Log-in to Maybank2u.com
Click Apply Online at Maybank2u.com secured site homepage
Select Account Type = Personal Savings Account, Product Type = m2u Savers-i & click the Continue button

Source : http://www.maybank2u.com.my/mbb_info/m2u/public/faqQuestion.do?cntKey=ACC01.12&faqId=ACC01.12-M2USavers-i&faqChPath=/mbb/FAQs/01-Personal Banking/FACC-Accounts&faqKey=206549#206549.

Happy savings. This is just a rather simple way to make your hard earned money work harder for you. Do share your thoughts on this.

SSPN Tax Relief vs Higher Div rates outside

2013-01-03T18:17:00.001+08:00

So in my previous post, I wrote on how to reduce your taxable income, especially starting 2012, the government has increased SSPN taxable relief to RM6,000. So then we started to discuss, if you can get better returns outside, say 5% compared to say SSPN gives 3% dividend, does it still make dollar sense to go for this tax relief.

If you google like from SenseOfMoney, the average div (simple averaging) is 3.56%. So let's do a comparison to see what % of dividends you should expect from other sources if you decide to not invest in SSPN. Let's assume SSPN pays out 3.5%. The RM6,000 tax relief is from 2012 to 2017. Believe after that would reduce down to RM3,000 or extended. So to keep things simple, we shall calculate based on saving RM6,000 yearly in SSPN from 2012 to 2017 with returns of 3.5%.

*Note one key assumption to the below calculations is that the tax relief savings you get, you save back into your SSPN (to keep it simple). Now if you save the tax relief savings into a higher yield vehicle, this should translate into higher total savings.

If you're in the 19% tax bracket, your compounded returns with the above assumptions should be RM48,405 (RM48k):

To have comparable returns from external sources that don't give you the tax relief on your RM6k savings, you'd need to find a vehicle that gives you 8.5% per annum on average:

Now, for those big buck earners, who've reached the highest taxable bracket; 26%, your compounded returns for a yearly savings of RM6k would be RM51k.

To have comparable returns from external sources that don't give you the tax relief on your RM6000 savings, you'd need to find a vehicle that gives you 10.5% per annum on average:

Remember though that SSPN when compared to bonds, FD, mutual funds and so on has certain difference i.e withdrawal requirements, capital guaranteed and so on. So take this into considerations too, e.g. the flexibility you require with your hard earned money, and the amount of cash you have.

If you notice anything that doesn't quite seem to add up, please leave a comment. This in based on my own understanding and calculations.

Maybank Credit Card My Thoughts

2012-12-29T00:05:00.000+08:00

Since of late I've been posting alot on Value Tips, lets keep the ball rolling.

I've long been a Maybank customer. However main reason was that my pay goes through to Maybank and also my loans (mortgage and hire purchase) were with Maybank. Around 4 years back, I refinanced to Maybank since they had the most competitive rate. Same during my purchase of our car, I managed to get the best deal from Maybank, with my old MyVi getting Extended Warranty Program (EWP) and my recent Persona getting a good rate as well.

But recently I've come to view Maybank more then just my monthly payslip and loan bank. Its somehow transformed into my preferred mode of banking for nearly all my banking transactions. This happened early 2012, when I was travelling overseas, and my previous bank's credit card dissappointed me. I had reached my limit, but alas, I did not receive any SMS or call notifying me that I was near my limit, what more any courtesy to raise my limit. I was a platinum long term loyal customer. They were made aware prior to my traveling that I will be traveling. Luckily I was with a friend and he offered his c/card and I could pay back later. I obviously had a backup card from another bank but left it in the hotel.

Once I came back, I called the bank to voice my frustration and asked the Level 1 support to request their manager to call me to understand my frustration. Alas no one called me back. Then when I came back, it was the time many banks were coming up with alot of new credit card products, cash back or double reward points. I called my H bank, to request to replace my existing Platinum which had basic benefits with a cash back one, and was adviced 'why not apply for a new card with bank H and maintain my current card'. I said ok, as I can cancel my current card once I get my new card. And guess what, me being a loyal credit card customer with prompt (full) payment, for at least 8 years, was rejected. Well well, guess who just called Bank H to cancel the card. And when they asked why, they got a 10 minute lecture on loyalty.

I've come to realize that many banks focus too much on getting new customers, but way too little in retaining loyal customers. This to me is Marketing 101, which an MBA or business student would know, it is ALOT cheaper to retain customers then attracting new ones, but still many business fail to take the effort to retain a customer.

And with my cancellation of my H bank's C/card, it was time to look for an alternative. Frankly I never considered Maybank eventhough I've done many transactions there. And then thanks to genxyz's blog, which does a detail comparison of bank's credit Card, I came to the realization, that in reality, Maybank does offer the best credit card(s) in town. Here's a quick summary / comparison to credit card's that come close. Firstly OC.. Titanium card, you get 5% cash back on a number of key transactions including utilities, petrol, groceries (excluding Jusco though) and dining up to RM50 per month. So once you hit the RM50 limit (equivalent to spending RM1000 on 5% eligible transactions), any other transactions after you pass the RM50 gets you nothing. And then though not difficult to achieve you'd need to swipe 12x per year to avoid yearly fees. Besides the 5% capped at RM50 though there aren't many other benefits. And if you get a supplementary, your RM50 cap does not increase.

Then there are some other cards that offer 2x or 5x or 10x points, but usually with a catch, limited to very few categories, and a limited time. So here's where the Maybank 2 Card wins hands down.

Firstly and smartly they give you 2 cards, one American Express (AMEX) and another choice of Mastercard or Visa. So the concern that AMEX not accepted everywhere is not a big concern. Then they managed to make it into 1 set, meaning your government tax is also RM50 only instead of RM50x2. And lifetime fee waiver, no need to jump through hoops to be eligible.

Now here's the beauty, every swipe with your AMEX (this is a credit card ya, not charge card), except certain small limited vendors like city council and insurance e.g Etiqa - you will get 5x treat points! And its not a gimmick, sometimes when you get multiples of reward points the total reward point needed to redeem is usually ridiculously high. In this case they can't do that as they use the same system as other maybank cards, you just get 5x more. To put things into perspective, most banks require 10,000 to 14,000 points to offset your RM50 government tax. (OC.. Titanium offsets this free second year onwards if you use RM10k or something). So for most banks you'd need to spend RM10k to RM14k to get 10k - 14k points which you can offset. Where else for your Maybank 2 Card, you need to only spend RM2k on your AMEX, and you've garnered 10k treat points to offset your goverment tax. So same applies for collecting points to redeem the free gifts etc.

If you use your Maybank AMEX on weekends, all transactions are eligible for 5% cash back on top of the 5x treat points, up to a max of RM50 per month (shared with your supplementary). So yes there is a cash back limit here, but note that your points continue to accumulate, i.e no limit, so the cash back is a bonus.

Another thing is if you spend time reading the T&C, the travel insurance coverage and also purchase protection plan are pretty impressive, e.g buy a fan or electronic stuff, entitles you to an additional year of coverage on top of manufacture's coverage. Do read the T&C. I have not tried to make any claims yet so can't comment but its definitely a nice to have. Might even make me think that paying for SenQ's membership for extended warranty might not be that necessary??

Biggest question / concern is - AMEX is not widely accepted. True enough. That's why they give you a Master/Visa credit card as well. And interestingly AMEX is getting wider acceptance, e.g for Petrol stations; Esso, Mobile, Caltex and now Petronas. All major hypermarkets e.g Tesco, Jusco etc also accept. Dining some do some don't

Do note for overseas transactions, AMEX surcharge is slightly higher then Mastercard / Visa so that's when I use my Maybank Visa. I've noticed on average, Maybank does offer pretty good exchange rates when I've used cards from different banks. Best way is to call and ask what's the banks' current rates and then compare.

Happy swiping! You can also check out the Maybank FB App. For a suggestion on how best to utilize your cards and where and when to use if you own both the Maybank 2Card and OCBC Titanium, check out Pairing AMEX with OCBC Titanium

Last chance to reduce your tax in 2012

2012-12-24T00:38:00.000+08:00

LAST CALL 2012 TAX RELIEF OPPORTUNITY

Yes, this are the last few days to reduce your 2012 taxable income. Besides the usual, this year there's additional tax reliefs you can go for. Personally some of the tax relief, thought meant to encourage certain lifestyles, e.g sports equipment tax relief to encourage healthy lifestyle, has a few things to consider:

Do you really want to just spend RM300 for sports equipment if you really don't need? So just buy what you need.
The other thing is this sort of things is little open to mis-use i.e people just declaring but not really making purchases. They've got their ways to come up with receipts if being audited by LHDN, a simple borrow receipt from friend would work, as long as ALL you friends don't get audited for the same year, since so far I haven't seen receipts of sorts with NAME mentioned. There are also other ways...
The logic behind having this sort of relief among others is maybe after some detail ROI thought, e.g same thought process for vaccinations. As an entity or government, it is worthwhile to offer free vaccination (or subsidized) IF the cost of treating is (significantly) higher as it costs the govt a certain amount, e.g seeking treatment at Government / General Hospitals. So maybe its worthwhile to give RM300 relief so people are healthier and thus lower % of 'lifestyle' related sickness.

Anyway going back to last call for 2012.

S kim Simpanan Pendidikan Nasional (SSPN) under PTPTN. Used to be you can get tax relief for yearly net savings of RM3,000. This year it has been up-ped to RM6,000. Now the savings you get obviously depends on your tax bracket. A quick calculation, if your tax bracket is:

12%, you'd save RM720 in total (for RM6k net savings)
19% : RM1140
24% : RM1440
26% : RM1560

The interests / returns from SSPN itself haven't been that high, usually 3-4%, but reading some forum's its hard to 'see' this in your statement. Anyway, whatever you make, remember that've you've already saved e.g RM1440 (tax bracket 24%) in the first year. So thinking of it as compounding interest (year 2 savings are ON TOP of the RM1440 you already in-directly got from your tax relief) it is still good.
You can open your account and do top ups at Maybank & Bank Islam. Top up can also be done thru M2U and PTPTN's website thru FPX.
One question that keeps on coming up is for parents, if they claim separately can both of them claim for this relief. Per PTPTN's website - Yes if you fulfill the criteria below:.

Ibu bapa yang membuat taksiran berasingan dan telah membuka akaun simpanan SSPN-i berasingan atas anak yang sama diberikan pelepasan sehingga maksimum RM6,000 seorang setahun;

Private Retirement Scheme (Private Retirement Scheme)

This newly introduced scheme is to encourage additional savings on top of your EPF savings. Interesting that the gov would introduce this. Actually to me the top beneficiary are the trust fund companies given the approval to offer such a scheme. Obviously depositors and tax payers also benefit.
I did a quick write-up some time ago about the options at PRS Options. Obviously there are new updates, and updates from PPA (Private Pension Administrator) is currently the most comprehensive - click here to see a summary.
Kudos to Hwang IM for coming up with options fast, and with 0% sales charge. I initially expected all the PRS provider to offer 0% (since most people's $ will locked in PRS once in) but as you can see in PPA's summary, this is not that case. The problem (for those little lazy) of 0% is that I'm guessing your trust fund agents won't be that 'eager' to promote this funds, unless there is another source of income for them instead of commission on the sales charge.
Again kudos to Fundsupermart for offering all Hwang IM's funds. I'm curious how the commision works out. I've always wanted to open an account with Fundsupermart since for most unit trust funds the sales chargers are lower compared to buying from banks, the unit trust company itself and agents. Btw, there is another online fund agency tha has got lower sales chargers as well eunittrust. The other thing is since I don't invest tens of thousands of RM, i find my agent not that 'responsive'...haha. And I seldom withdraw from EPF much for unit trust as well.
Anyway, bottom line is, assuming the funds perform even average, you've already made savings of 9-26% on your RM3,000 investment with the tax relief, again depending on where your tax bracket is, and obviously this is significant. And you save on not having incurred any loss when you purchase the unit unlike typical trust funds where immediately when you purchase, you already loss ~2-5% on sales charge.
Since I've already invested in Hwang, let me write a little about it since it'll take you some time to read thru the whole PRS thingy.
Why I chose Hwang IM? Not that many options currently available, and also wanted to do thru Fundsupermart. Also 0% sales charge. Remember another possible option is like Great Estern's deffered annuity, where you invest a min fixed amount yearly, and after retirement get a yearly 'allowance' up to 10-15 years (with interest). Sounds good for safe players, my only concern is what if that year no extra cash to invest. At least in PRS if no extra cash that year just don't invest lor. Since you already have other commitment like your insurance.
Hwang IM's PRS offers 3 conventional funds and 1 Islamic Fund. The conventional are aptly named Conservative, Moderate and Growth. If you check out their prices already they stand true to their labels. (now the bigger qs is how they fare when a downturn is here). The Islamic fund is only 1 and is a feeder fund. PRS Aiiman Growth which feeds into existing Aiiman Growth. The plus point about this is that you can see and evaluate the past performance of Aiiman Growth for reference.
You can buy Hwang IM PRS probably directly from Hwang IM or from Fundsupermart.
REMEMBER, that there is a lock-in period - i.e till retire, expire or migrate permanently. The account 2 (20%?) can be withdrawn once a year with a 8% penalty.
You can switch funds as long as it is a PRS from what I understand, so there is decent flexibility, except I've not seen an bond PRS funds so can't switch into bonds during worrying times?
The other concern I have is that the PRS funds offered were way to late for 2012, not enough time to educate nor to do Dollar Cost Averaging. Also would you say the market is currently already quite high? Remember buy low sell high? Well if your bracket is 19% , as long as the PRS doesn't de-value by 19% you still make profit. Ha ha.

Another option to reduce your taxable income is obviously giving to charitable bodies that have been approved by the Finance Ministry / LHDN. One option is Aman Palestin.

Ok have a good 2012 and 2013 soon. Happy investing and donating.

By the way, if you're wondering 'What if I can getter better returns / dividend from other sources, does it still make sense to invest in SSPN? I did a comparison and explanation on what % of returns to expect from other sources that would make it comparable to SSPN's dividend + tax relief benefit, click here SSPN vs Higher Returns Outside

Private Retirement Scheme PRS Income Tax Relief

2012-11-28T01:36:00.003+08:00

As you would have heard, you can get up to RM3000 tax relief from 2012 up to 10 years for the amount you save in the Private Retirement Scheme. In other words save on your income tax payment, e.g which is ~27% tax that you'd avoid paying for your RM3k income which equals to a huge return on investment. Alas PRS is not capital guranteed unline EPF. Here's a link to the fund managers and their current offering (as of date blog published)
AIA
CIMB Principal & Details
Hwang Investment Mgmt
Manulife
Public Mutual
AmInvestment
RHB - nothing much yet

Buying Baby Stuff

2012-11-10T23:10:00.000+08:00

Usually when we plan to buy things, sometimes frequently over some months or even years, we consciously make note of the price, and choose out shops that offer a good value, price or deal. When you have a child, you come to the realization that you will be buying some additional things on a frequent basis, and probably consider your nearest or favourite hypermarket as your solution and destination.

If you're lucky enough you'll come across shops or friends who bring in the realization, that on a normal day (meaning no sale), odds are that your daily baby items are in reality cheaper at Baby Stores versus the hypermarkets. Yes it is pretty hard to believe but that's the truth.

My friendly started me off, be indicating that there are several baby shops in Kepala Batas / Bertam that have prices that are alot cheaper then other places. Yup we drove all the way there and it was cheaper. Interesting. But that was too far. So what's the main purpose of this blog?

1. To indicate locations of baby stores that you'd want to go survey and decide for yourself which are cheaper.Things that we usually buy are diapers (lampin pakai buang), interestingly we used to call them pampers, but few people still use that brand, too expensive maybe. Also where to buy milk powder (from Frisco, Nestle, Dutch Lady, Enfagrow, all the basic to fancy stuff) and Nestle's baby cereal- Cerelac. There are other things that you'll be buying including Rusks (Heinz's Farley's, Milna)

2. To share some indication of pricing of the goods.

Shops to buy Baby Stuff (items mentioned above). 1. Choo Choo Train. There are two shops that I know of. Both seems to have the same prices. I've done some comparison in Bukit Minyak, Sungai Rambai and Bukit Mertajam and have found on average this shop's prices are the most reasonable.

The first shop is located at Bukit Minyak. Turn into the road where the new Carrefour is (previously another shopping outlet) and its in the row of shoplots facing Carrefour. You can also refer to the map on their website. Parking is decent. Choices and variety at both the branches are pretty comprehensive for diapers, milk, bottles (including Tommy Tippee, Medela), baby swing (Endoi) and little bit of baby clothes.

The 2nd shop is located in Bandar Perda. From Kapitan Nasi Kandar, you can see the shop across the road, however the sign board is faded so look closely. Or coming from Bandar Perda main entrance (where TNB and JPN are on your left upon entering) take the first right. You'll pass Bank Rakyat on your right go straight, and then take the next right into the row of shoplots, which is opposite Kapitan Nasi Kandar and Qasar Hadramawt Nasi Arab . Click here for a map.

Another plus point about this shops is on average I find them (workers / shopkeepers) pretty friendly and rather well informed about baby stuff. This is important, as you want people to give you honest USEFUL and correct information when shopping for stuff for your baby. But as usual, go google and also ask an expert to verify.

2. Now that we're in Bandar Perda, there is another shop of important mention, a baby clothes shop, where there's a good selection of baby clothes starting from RM3 (or RM6 per pair). I found the material pretty good and comfortable. This are non branded, good for daily / house wear. Understand that this shop has a factory so they offer it cheap (or maybe last seasons - but does it matter?). It is located in the shop row behind Maybank, click here for location.

3.Hock Lee Trading. This shop is located near Bukit Mertajam (BM). It is more of grocery store that sells Baby Milk Powder for a decent price. Its located on a 1way street, so you'd need to 'circle around to get there. Otherwise, on the junction (by the court) instead on turning left to Summit at the fork, turn right and then left before Alka Ria and go straight. Then turn left, go straight then run right, then left then park. The walk to Hock Lee. Click here for map.

4. There are around 2 shops in Sungai Rambai area. I found the prices average at best.

5. For those staying in Bertam, there's plenty of baby shops nearby, all competitively priced.

6. On the island, I would say Sg Ara is your best bet.

I was going share a price list as well of how much is baby stuff, especially those that you'd buy often, but slow internet and somehow the formating of this entry seems messed up since my paragraph is all continuous looks like a mess.

Looking for baby shops near your area, unfortunately I can't blog about all the shops, one coz that would be a really long blog, I wouldn't know all the shops, and my internet connection sometimes frustrates me to much. So what to do? Ask your friends in your area where the shops are, OR, check out links like friso.com.my/highlights/promotions-events/friso-family-retailers.html which indicates its retailers so hopefully their prices are good.

Porch Swing Chair Endoi

2012-11-04T17:51:00.002+08:00

Relaxation

Yes relaxation is very important in life. Finding activities that offer such to us varies among individuals, family and location. One of my favourite relaxation is sitting by this swing. I'm not sure exactly what to call it, I guess the most common name for it is endoi rotan. Which means a rattan swing. Might also be called a wicker porch swing. I'm not even sure if the main frame is built from rattan or bamboo (buluh).

Anyway, having an endoi sure is a fine addition to your household relaxation options. The easiest way to get started is to buy a set from furniture shops. Which have the metal base and a rattan endoi attached to it. With this you wouldn't have to look for places to hang it as the base is usually a circular base - well balanced on your floor. Only thing if you plan to put it outdoors, the base could rust under rain and mess up your tiles / flooring. When our endoi from the furniture shop started rutting and 'mereput', we decided to look for a new one. And this time the plan was to hang it (outdoors) as well. We looked at the furniture shops and came to realize that even though the wicker rattan swings were so nicely designed, it was quite expensive.

So started looking at rattan shops. In Penang, and probably around Malaysia, if you drive around you'll notice shops selling only rattan furniture. Most of this are located in quite warn down shops (a dying art) and then there are some ala boutiques. Well probably the prices will also differ accordingly.

So here's the rattan endoi we went for. Its lasted us well over 1 year now in rain and shine but don't expect too much since it is made of rattan.

As you can see, one of the key changes we made is to 'hang' it instead of using the metal base outdoors. Obviously you need to pre-plan and 'renovate' your house accordingly to create such an option and place to hook and hang your swing.

From the above picture you can see the mechanism to create the 'hook'. Tip - when you are doing your house grill, gate or awning, ask the contractor to help add this type of wall plugs in places you think you'll be hanging your swing or other heavy stuff. This is not the normal wall-plug where you just drill a small hole, hammer in a plastic or wooden wall plug and screw in. If you look closely this has the nut screwed in to the reversed bolt which was something like 'riveted' into the wall / ceiling's column. Not sure what this is called, probably you can get it at the hardware store if you plan to do it yourself. Remember that you'll need identify structures that will be able to support your expected weight. The spring looking hooks I got from my old swing which had rut.

The metal chain is available at any hardware (HW) store. I couldn't figure out what's the weight or Newton rating that it can support though, so just 'tried' and risked it. If you're more hardworking you can spray the chain to match your preferred color, but not sure what's the best material to use, as a otherwise it'll flake.

So there you have it a nice swing in your porch or patio. Ok going back to where to buy. My recommendation is if you want something value for money go hunting for rattan decor shops, the old school type. If you want it quick and easy, just get it at the furniture shop. Here's some links to rattan shops around Penang and Mainland.

Rattan shop near Summit BM : there are two shops here. Summit BM will be on your right and slightly in front ~500meters you will see 2 shops 50meters apart on your left. I find the 2nd shop after summit to be more reasonably priced and friendly. Try finding parking at the parking lot right next to Summit, or drive slightly further you should see an open parking area on your left (by now you would have passed the 2 rotan shops).

Chulia Street : Coming from Jetty, once you cross the Kapitan Keling Mosque junction, drive on straight and you'll see a 7-Eleven on your right. You should see one rattan shop on your right. There used to be another one further down on your left, not sure if still open.

Bayan Baru Roundabout - There is a shop at the Bayan Baru round-about, Rattan de-Cor or something is the name. This one is a little more high end then the old school shops above. Its in the same row of shop houses as the clinic and Teratak Spa.

Giant Bayan Baru - After you park, right before you enter the Giant Hypermarket building, there is a stall selling rattan items. They didn't have the endoi last I checked though.

There are also 'mobile' bamboo / rattan furniture shops, and as the name implies they move around from places to places. I've seen / heard of them being around Sg Ara and Farlim, Penang. Probably try asking the hawkers around that area and they might know.

Among the many other furniture you can get from Rattan shops are rocking chairs, baby eating high chairs and some nice chair and table sets that won't cost you too much.

Acid Test on Point of Views

2012-10-31T20:13:00.001+08:00

Referring to my previous entry, Point of Views, I mentioned that could we devise an acid test to see how our point of views would change (or wouldn't) if the scenario changed. This could help us (and help myself too) identify how impartial we are, or help identify that in reality, there is a certain amount of expectations shaping our reactions and like Mukmin mentioned : the mind forms a logical structure of those who read the comments, as long as they feel the same or similar "pain" or "are in the same wavelength" and when there's more of the same wavelength comments the mind tricks you to think "It must be true!"

Let's take the original article, Malaysia ranked 12th most business-friendly country: World Bank and test out the acid test I'm devising on the fly after much thought and ponder.

When you first ONLY read the TITLE of the article, how did you FIRST react

That's good news
Great news, even world bank acknowledges Malaysia is taking steps to improve!
What a joke.
Cannot be la, maybe someone bribed World Bank to give us good rankings.
Let me read the whole article.

Did you read the whole article?

Yes
No
Scanned thru

Did you google / search for the original World Bank article to understand the parameters used?

Now, imagine if the headlines read " Malaysia's ranking has DROPPED in most business-friendly country: World Bank". How would you react

That just one indicator, rest show we are doing good.
Can't trust World Bank, they have their propaganda
Expected
What a joke, it's confirmed even by World Bank that Malaysia is screwing up.
Let me read thru the whole article.

So here's my thoughts, if Mr X chose

1.2 and 4.2 : Mr X is contradicting himself. For something Mr X wants to hear, the news is good and World Bank is a reliable source. But when the report is negative, somehow World Bank became untrustworthy.
1.4 & 4.4 : Very much same as above assessment wouldn't you agree?
1.1 & 4.1 OR 1.3 & 4.3 - might have a level of inclination already, and usually sees what they want to see.
For all the above, I'm guessing mostly Mr X wouldn't have read the whole news article.

How about the other combinations? How many actually read the actual World Bank report?

How would you assess if Mr X chose 1.2 & 4.4 or 1.1 & 4.3? My thoughts? I would think they have the least preset of assumptions and expectations before reading the articles. Or maybe they managed to separate reactions from expectations.

Well, let's call the above the Lukman Iqbal Impartiality Acid Test V1.

Point of Views

2012-10-26T20:22:00.002+08:00

I've recently been thinking about point of views. Why would just one statement look different to so many people. Like the adage saying goes, Beauty is in the eye of the beholder. This is partly due to the 'effects of expectation' which Dan Ariely wrote about in his book Predictably Irrational. Among others, expectations shape stereotypes.

Why is it just one statement or a newspaper article results into many many interpretations and comments, sometimes 180' in contrast?

Here's one very interesting example Malaysia ranked 12th most business-friendly country: World Bank , which appeared in a few portals / news. Now just looking at this statement, how would you react? Please comment. Here's an examples of reactions I've seen so far.

Mr A: What a joke.... My tuition centre has been waiting the licensing support letter from district health office for 2 months
Mr B: Malaysia is actually pretty friendly to foreign investors (you are better off not being Malaysian to invest in Malaysia...). Japan has a particularly problem with opening up their domestic market.
Mr C: it means songlap (embezzlement) to da max.
Mr D: over here, biz can move faster and everything can get done with money...
Mr E: Congratulation to all, we have achieved something good at international front. But, let us also remind ourselves that we have al ot to improve on our domestic ranking, likes Crimes index
Mr F: Good news... only from other news portals.. not from Malaysiakini...Malaysiakini only can do "FITNAH
Mr G: I go to USA regularly and things are really bad there. I am so glad that I am a Malaysian and our economy is under control. go to USA regularly and things are really bad there. I am so glad that I am a Malaysian and our economy is under control.
Mr H: And there is another report on yahoo as well that Malaysia economy growth is the slowest among Aseans, at 4.4 2012 and 4.7 2013. Ask any business on the streets, and they will tell you business is slow and has slowed down significantly, . Sadly It has been under performing year , Now don't give excuse that our under performance was due to economy crisis in Europe cos Indonesia economy growth was published at six percent and Philippines..

AND SO ON... above are actual excerpts. So how? What's up?

Well my theory is mostly whatever you comment or read, is sometimes what you want to 'see'. Yes impartially speaking it's quite hard to be impartial when you have history, background and pre-assumptions. Even though all the above have points, each can be 'shot' down by someone with different views. Lets try to answer (and intentionally shoot-down or oppose the above comments which was a mix response to the article - I think you'd agree) each of the above comments:

Mr A : What a joke - What, this report is World Bank, and takes into consideration probably certain aspects of doing business, probably not opening a tuition centre. Do you have a baseline from a respected source as a comparison saying its easier to open up a tuition centre inother countries? If e.g you say yes and compare to Sg, then why compare only to Sg? Same for Mr H, why compare to Indonesia and Philippines and not Sg?
Mr B: Malaysia is actually pretty business friendly - Who said so. They seem just interested in FDI and not encourage local business.
Mr C: It means embezzlement - are you accusing World Bank giving Malaysia higher ranking because Malaysia condone and recognize bribery...
Mr D: over here business can move faster with money - Is it? Have you recently registered a business (sole ownership) in Malaysia. I did it in less then a few hours, was rather cheap, and I didn't even have to travel far because they have periodically mobile counters near my area. I didn't pay any under table.
Mr E: Congratulations to all - hmm you seem like a BN trooper. (i just learnt about this term). :)
Mr F: Malaysiakini only do fitnah - Is it ah. So you think The Star so honest ah. (you see again the actual point of news is 'spinned' to talk about other issues' and not comment on the news article itself).
Mr G: I go US and things are really bad over there - In Malaysia I earn fresh grad pay, can hardly buy cheap viva, in US I earn fresh grad pay can buy Toyota already (again to me this is off topic - and not related to being business friendly). Another reply - why you compare USA. Compare to China or Korea, last time so behind us, now see why lag behind them.
Mr H: Economy slowest in ASEAN and blame Europe crisis. See Philippines and Indonesia. - This is a report about being business friendly, not about best performing economies (which obviously would be the news report about Philippines and Indonesia vs ASEANs economy and not titled business friendly). Or - Indonesia obviously since its got a huge population and cheap labour, and huge market potential. Same goes go places like maybe Vietnam or China (I'm guessing here) that it might not be easy to do business there, but companies still invest and do business there because market is huge and labour is cheap.

So now what's your thoughts or comments? First of all the points I put up also can be re-argued over and over again. That's my point obviously. Appreciate your comments. I'll write some more later, and suggest an acid test (acid test now available, click here) to see if one's point of view changes if the news report was the exact opposite.

So do you think I wrote this because I was pro the article, opposing the article, really neutral, wanted to have an acedemic discussion, or just wanted to.....
.
.
.
.

promote my blog....Well frankly... a mixture of the above.hahah. Have a good day.

Baby Stuff Price comparison

2012-09-22T20:52:00.000+08:00

In my precious post, Things to Buy in USA, I mentioned among others is to shop on Amazon, where you can get plenty of deals. Here's more examples for this, you'll see and realize that either baby stuff is really expensive in Malaysia, or just cheap in States. Any yes, this even applies to USA branded but made in China goods.

Anyway, here's a few more price differences I've come across

What a difference. RM23.90 per pack in Jusco (and around similar price elsewhere), so for a pack of 8 ~RM192. At USA Amazon USD28.77 (~RM92) for a pack of 8. That is a HUGE difference.

For this its around rm199 here.

Come across anything else?

Things to Buy and shopping in the USA

2012-08-07T07:37:00.001+08:00

Shopping in the USA

I've googled around to figure out what to buy when traveling to USA, or when a friend is going to the United States of America, and what to pesan (order). There are quite a few forums and blogs out there, mostly mentioning the most common items, namely Coach bags. I'm pretty sure there are so many more things which you can get a good deal, or which you can't find back home which you'd find in the States. So here's my list of To-Shop and also, a little of what not to shop.

This entry is part of a Travel Tips series.

1. Amazon
Yes, shop before you get to the States. The benefit of this is, usually you are on a tight schedule when you are in States (unless your main purpose of the trip is a shopping spree :) ). So there are a lot of stuff you can pre-buy on Amazon or other online sites, and get it shipped to either a friend's house in USA first, or the hotel you'll be staying. Make sure to inform the hotel you'll be expecting some packages. Most hotels (if you've got a confirmed booking) will be ok with this I'd say. Ok plan out for the shipments to arrive at the hotel when you've arrived in the States. With this you'd have completed alot of your shopping even before getting to States.

Benefits of Amazon - accepts international c/cards. They drop off at houses / hotels and don't require people to be at home (might be common in USA as usually in Malaysia most parcels are have to be signed by recipient). They have a good customer service and an excellent return policy.

I would say one of the hardest thing to find in Penang, or probably in Malaysia is a decent hammock. I've looked around, found one at Padang Besar, obviously cheap, RM5, but lasted 10mins before the first string broke. You can actually get a huge option of Hammocks from Amazon .

Basicallly I would say there are two main categories, one with a frame (usually wooden) so your hammock is already spread. More suitable for couples to easily sit together or elderly. Check the lenght of the wooden frame first, to find out if it'll fit into your luggage to carry home.

Another one is the basic string or canvas or cotton hammock that you'll need to spread before getting on it. This one would be lighter to carry back, and cheaper mostly.

You'd probably need to consider buying some straps or 'buckles' to tie your hammock to an anchor. I am not yet that familiar with this terms so can't explain much.

KitchenUtensils. This is one of the best places to perfect your kitchen accesories. Yes the utensils like the knives are a little more expensive then the basic knife you get here, but they are usually sharper and last longer. For exampleVictorinox 47508 3-1/4-Inch Paring Knife, a tomato knife (to cut soft fruits / vegetables) etc . Not the most romantic gift for your better half, but when they start using it, they'll appreciate it.
.

Handphone Mobile Pouches is another good thing to buy. Especially for brands or models not common home. Look also for your Samsung tab or iPad casings.

Also check out HDMI cables, you can get them for as low ~USD3, and back here probably the cheapest you'll get is for RM30. Amazon

Probably before you buy stuff (namely electronics), compare back home at websites like Mudah, Lazada, PC Depot, Lelong and the ever favourite Lowyat.net (click on Lowyat PriceList)

2. Electronic Stores like Fry's and Best Buy.
Here you can get a plethora of IT gadgets and toys. Usually the latest stuff is a little cheaper in the states, and once it has become common, like a USB Thumb / Pen Drive the prices are not that much different. Another item alot of people buy back is Garmin GPS navigation with free world wide maps. Most of this shops do have good sales when it comes around, also a good return / exchange policy. If you are a collector of DVD or BlueRay movies and songs, the ones on sales are really cheap as well. Even sometimes PS3 or Wii games on sales are quite cheap, but you'd need to know your games well to find out if the ones on sale are highly rated or not. I did find though that some electronic stuff is cheaper in Amazon, especially if you are not paying taxes (depends on which state you are sending to - check your invoice before you check-out your cart from Amazon), things like this BT headset is quite cheap on Amazon.

Another plus point on Amazon is you can read alot of customer reviews for reference before you make your decision.

3. Outlet Malls
This is one of the places foreigners have as a must do / must go in their lists. Prior to going to the outlet mall, a few things to consider

-Go to the outlets website, one of the largest outlet mall franchise is Simon Group's Premium Outlet Mall. Register and get the voucher book coupon and download the related coupons. You can collect the voucher book at the outlet information centre. If you do not pre-download but go to the outlet counter straight to get the coupon book they'd charge you around USD5. Places like SawGrass mall only sell this.So do the math.

What to buy at the outlets. So many choices. The favs are Coach, Corningware, Gap, Baby Gap, Guess, Vitamin's from Vitamin World - Glucosamine, Fish Oil, B Complex. Also branded watches. Probably weight gain formula as well. A heaven...with a costly impact to your credit card allowance.

Ps- The Simon's Group Premium Outlet is the same company that setup shop in Johor - Johor Premium Outlets (JPO). I haven't been there yet, but kudos that we have a Premium Outlet just down south.

-Distance to outlet. You might have a couple of outlets at around the same distance you're willing to drive, then consider tax. Different states have different taxes, varying by a few percent. And then you have Oregon, Alaska, Maryland, Montana and New Hamspire with no sales tax if I'm not mistaken.

- Time : this places are mostly outdoor with some shaded walkways leading to each store. The places are huge. So if you have less then 1 hour to shop and are not sure what to get, it'll probably be a challenge.

Remember most stores close early on Sunday's and Public Holidays. Check before you go, as this outlets tend to be a drive away, just like our JPO.

You can probably compared prices with our Zalora which has a good variety of branded deals. Some brands like Aldo, where there is a sale back home it is actually cheaper (sigificantly) then the outlet price in the States. So take note to compare before you buy.

3. Baby Stuff
Two main stores are BuyBuyBaby and BabyRUs. Below things are usually cheaper

Stroller
Carrier
*Baby Camera (audio and / or camera).
*Breast Pump
Baby food. Here's a good example,

Below HappyMelts Organic Yogurt Snack is RM23.90 per pack in Malaysia.

Now if you buy from Amazon, it is USD31.51 for a pack of 8. Which comes down to less then USD4 per pack, or less then RM13 per pack. So if you just buy they 8 pack, you have saved RM80. Ridiculous isn't it.

*Most of the electrical / electronic items there come with a 110/120V power supply. So if you're from Malaysia (or similar countries) that use 220V, consider your cost to buy a power transformer that is not really cheap and could get quite hot. I've had friends who managed to buy products that cater for both 110/220V, but make sure you check.
Otherwise get a product which uses a common power jack or USB powered.

4. Wholesale HyperMarkets
COSTCO and Sam's Club are two very big retailers that require membership to enter / purchase, but is open to end / retail customer. They have their own homegrown brands, which are real value for money. Sam's club is owned by Walmart. I know Costco has expanded in Asia, but haven't heard of any news of Costco opening up in Malaysia. Costco's own brand Kirkland is REAL value for money, ranging for mixed nuts, to delicious relatively cheap chocolates and supplements. Costco on accepts American Express, so either get whoever's taking you to help pay first, of if you have the Maybank AMEX card that'll work as well (note AMEX is notoriously known for its higher FOREX rates I hear). If you did your MBA or related course, pretty sure you'd have read about them in how they do business, or enhance customer experience.

Things you'd consider buying

Luggage bags
Assorted chocs for friends and family (the fun size ones)
Nuts
Whatever you fancy.

5. WalMart & Target
Above are like our Tesco's and Giant. They do have a good selection. Clothes here are of good value and not overpriced but usually not branded.

6.Macy's and the likes
This is like our Parkson. Macy's does give discount for foreigners, so check with them. Hmm there's a Macy's in KL right.

Other things to consider
Luggage space ? Check you airlines allowance on number of lugagges and sizes. Flights thru the Americas and not usually have different allowance.

Which Credit Card to use? Some people say that rates are fixed by MasterCard and Visa. Usually hear AMEX is the highest (they might have additional chargers on top of the conversation rate) But I did read somewhere it is bank dependant too. My experience? I used UOB and Maybank, Maybank had a VERY GOOD conservation rate. Also google online, last I checked, other bloggers also agreed that Maybank currently has the best FOREX, at least for USD.

Foreign Exchange (USD $). Suggest change in Malaysia first to take along some FOREX, as you'd get the best rates in your home country. Need some info on where to change currency, click here

Wet Markets in Penang Mainland

2011-10-01T20:30:00.001+08:00

The previous post covered on some of the wet markets on Penang island.
Lets cover some of the markets on the Mainland Penang. Mainland Penang covers Seberang Prai Utara (North), Seberang Perai Tengah (Centre) and Seberang Perai Selatan (South).

Seberang Jaya Market
This is one of my favourite markets. Prices are reasonable, and the folks friendly. What I like most about this place? The morning food stalls. You can get a variety of food here, from Roti Canai, Nasi Lemak, Roti Jala, Curry Mee, Tosai, Idli, and so on. In fact I notice that there are more people in the food court then in the market. You can get your normal vegies, fruits, egg, chicken and beef meat. Don't think they have mutton here.Parking, there is a main parking before and after the market, you can also park along the roadside. The morning breakfast stalls are before the market, just follow the crowd.

Bukit Mertajam (BM) Market
This is a pretty large market. I haven't really spent much time here, but you should be able to get nearly everything you want. Parking is along side the road, and also there are some parking areas along the main road.

Chai Leng Park Market
This market is located in the housing area of Chai Leng Park. You can get all your vegies and fruits here.

Market Sama Gagah
Is market according to my friend is a market with kampung prices. i.e the prices are rather cheap, especially for the breakfast. I haven't got a chance to head here, but sure am looking forward to the breakfast and marketing here. The map link above my not be 100% exact as its not available on the online maps.

Market Orang Kaya (Rich Men's Market)
I'm not sure sure what the name of this market really is, but even in Wikimapia it says market orang kaya. This is an evening market, you can probably go there 4pm onwards, but after 6.30pm, nothing much is left. You can find vegies, fruits, and fish here. It is mean mostly for the working crowd that can stop by after work before they get home.

As usual, there are many more markets on Penang mainland, which I myself am not familiar with.

Wet Markets in Penang Island

2011-09-22T20:43:00.000+08:00

Wet Markets on Penang Island

Yes, a rather interesting topic to write about isn't it. Pasar pagi / Pasar Basah di Pulau Pinang. But yes I think this question has been asked by many many people. I myself, and many friends have asked the question

where do you buy fresh produce, vegetables, fruits, chicken, halal meat, lamb, mutton and beef?
And also, I go to this market, but it doesn't sell specific things, so how? Where to go
What's the timing of the market? Yes there are evening markets, pasar petang, that sells the above too.

Generally, again, I'm saying generally, things are fresher in the markets rather then super markets, and at times cheaper (very subjective). Let's start with the markets in Penang.Obviously this are not ALL the markets in Penang, but the ones I've been too.

Bayan Baru Market
This market is (obviously) located in Bayan Baru. It is located right next to the Bayan Baru market food Court, between the Bayan Baru Mosque and Sunshine Square. This market is one of more well 'arranged' market. There is parking on nearly every corner of the market building, and additional parking around that areas.You can get nearly all your market needs here, there are many of stall operators. Easily get vegetables, fruits, fish, meat like chicken and beef. I don't think there's mutton meat here though. Click here for a map of Bayan Baru Market

Sg Nibong Market / Taman Tun Sardon Market
This market is located in the Gelugor area. Also quite accessible to those in Sg Nibong area. It is located in the housing area. Parking is ample, if you cannot park at the parken next to the market, road side parking is easily accessible.This market is adjoined to a food court too, and you can get some nice breakfast here, including roti jala. Breakfast here is quite crowded. I would say the number of stalls are rather less, and also the meat selection is limited if I recall.. The plus point is it is very close to the residential area there and easily accessible to them. Point of mention is there if you like 'minum petang' / evening snacks and tea time, this place has a good selection. Options range from kuihs including one of the best Seri Muka, fried fritters (pisang goreng), capati and its curry and also roti jala. You can hangout there and have your snack or just pack it back. Try to go around 5.30pm or slightly earlier to have a wider choice of kuihs, the stall would be open until 6.30pm - 7pm usually. Click here for a wikimapia link.

Anson Road Market
It is located on Anson road, slightly after the Macalister road junction, before you get to Jalan Perak. The market here is pretty small, and caters for a smallers volume of customers. Parking, hard to get nearby one, but drive around there are a few spots which require some walking. Prices are pretty good here. Sells fish also. No halal meat here.

Pulau Tikus Market
This market is smack in the middle of Pulau Tikus. Landmark nearby is the Pulau Tikus Police Station, before Belleview Plaza. Parking is little challenging on weekends as it does get quite crowded here. I found the prices slightly higher here, possibly due to this area being a little bit 'upmarket' with the relatively richer crowd shopping here. You can get your vegies and fruits here. There are quite alot of choices here, definitely more then the Anson Road Market. Fish also. For meat, I'm not sure if they have Halal Meat. Anyone? Click here for a wikimapia map.

Batu Lancang Market
This market is easily accessible from Batu Lancang, Jelutong or Greenlane. This is an EVENING Market. I'm not sure about the timings, but it probably should be open around 3pm onwards. Going after 6.30pm possibly most stalls would start to close or be close already. You can find vegetables, fruits, fish. There is mutton available here (Halal one should be available here). Overall the options are good here, and seems quite well arranged. The parking is also convenient, as there is a large lot next to this market. This market also serves other purposes, with the top floor being a hall used for ceremonies including kenduri (receptions) kahwin. To get here , if you are coming from gelugor round about, go straight down Green Lane. You cannot right turn at the main Greenland junction, so continue to go until you reach the flyover (overpass) to Lam Wah Ee hospital (the narrow flyover), take this, and take your first right and drive slowly. You should be able to see the Building

Chowrasta Market
Chowrasta, this market is smack in Georgetown. You get all the fun here, traffic, difficult parking and so on. Actually there is ample parking but it is rather far off, one option being the council's multi-storey parking on Hutton Lane. Chowrasta Market itself is a gem in itself, with alot of old' school nostalgia it seems. Here you can also get pickels / buah Jeruk.

On the top floor, you there are actually shops selling clothes, shoes etc. And most wonderful of all, there are plenty of second hand book stores here. Most close by end of the evenings.
Now going back (and down) to the market it self. Choices are a plenty, you get it all here. You can even get fresh halal meat, chicken, beef, mutton and so on here. One of the main attractions here is you can get Ayam Kampung (Village chicken) which basically means fresh chicken reared naturally without all the inorganic additions in the typical chicken. You can literally choose your chicken, alive and they will slaughter (sembelih) it for you there and then. As fresh as it gets and more natural.

All the markets above are morning markets unless mentioned otherwise (e.g. Batu Lancang Market)

This entry answers the following questions

Where can I find fresh markets in Penang Island.
Where to find fresh vegetables, fruit, fish, egg, chicken, meat, beef and mutton (Halal).
Where to find Ayam Kampung.
Evening and morning wet markets.

Menjawab yang berikut

Mana pasar segar / pasar pagi di Pinang / Pulau Pinang.
Cari Ayam Kampung
Cari Daging Halal
Cari sayuran, buah buahan, telur.
Beli barang masakan dapur.

Happy Fresh Marketing!

Price discrimination on the Internet

2011-08-29T03:37:00.003+08:00

Business and Economic Analysis

This is my individual write-up for my MBA subject BEA, about the price discrimination on the Internet. If you find this reference helpful, please leave a comment. Enjoy, and questions feel free to post. Remember do no plagiarize and also remember this content is easily google-able for checking against copying. It is meant a guidance. Forgive the formatting, it is pretty hard to republish your work onto blog templates.

Price discrimination on the Internet

TABLE OF CONTENTS

Executive Summary 4

1. Non-Uniform Pricing 5

2. The Internet as a Marketplace 6

3. Price Discrimination on the Internet (Net) 6

3.1. First degree 6

3.2. Second Degree 7

3.3. Third Degree 7

4. Price Discrimination, the Internet and Privacy 8

5. Asymmetric Information 9

6. Conclusion 11

7. Recommendation 12

7.1. Information is power 12

7.2. Government Interference 12

7.3. Internets' Social Networking Power 12

8. Appendix 14

9. Reference 15

Executive Summary

Information about individual consumers' demand curves can be used by organizations to increase their profits by setting up a nonuniform pricing structure. Price discrimination is a form of such nonuniform pricing; and is divided into three degrees namely perfect price discrimination, quantity discrimination and multimarket discrimination respectively. Price discrimination on a social aspect might be negative but could increase economic efficiency and enable better distribution.

The real world internet is not free from price discrimination. The internet has continued to grow into a marketplace offering benefits and challenges to the industry allowing easier distribution of digital information thus reducing marginal costs, but also facilitates piracy. The internet is now common with products and services which are characterized by high fixed costs and low marginal costs, suitable for price discrimination. All three degrees of price discrimination occur on the net, namely auctions, bulk or volume sales and price differentiation by market segments. Search comparison sites have produced Bertrand like outcomes in the retail insurance industry. But on the other hand, other organizations thrive by getting consumer information on the net, however posing concerns over privacy. Privacy is hard to maintain on the Net and has enabled firms to manipulate such information to price discriminate effectively. Firms also focus on providing asymmetric information to negate the downward pressure brought about by low search and switching costs, by affiliating to strong internet portals, advertising and tactics to increase switching costs.

The Internet marketplace will benefit most those that are technically savvy be it the seller or the buyer. Those that choose not to understand the workings of the internet and do not protect their privacy stand to loose out and get discriminated on price. The internet therefore requires its users to be well informed. Government interference should be kept to a minimum, and should step in when clear boundaries of law are broken. The emergence of social networking like Facebook will also shape the economics of the internet marketplace with its power to influence opinion on a good, service or firm altogether.

Non-Uniform Pricing

Monopolies (and other non-competitive firms) can use information about individual consumers' demand curves to increase their profits, i.e. instead of setting a single price, firms use nonuniform pricing: charging consumers different prices for the same product, thus raising profits (Perloff 2009). Carlton & Perloff (2005) explain several types of nonuniform pricing exists including prices discrimination, two-part tariffs, and tie-in sales. A market with theoretically perfect information, perfect substitutes and no transaction costs or prohibition on reselling to prevent arbitrage, price discrimination can only be a feature of monopolistic and oligopolistic markets where market power can be exercised (Daripa & Kapur 2001; Krugman & Obstfeld 2003)

Price discrimination is broken into three types or degrees. Perfect price discrimination (first degree) is where the firm sells each unit at the maximum amount any customer is willing to pay for it. Quantity discrimination (second degree) is when the firm charges a different price for large quantities compared to smaller quantities. Finally the third degree price discrimination, i.e. multimarket is where the firm charges different groups of customers different prices but it charges a given customer the same price for every unit of output sold (Perloff 2009).

Though price discrimination sounds negative and may be viewed negatively by society, Bakos (1998) highlights that it is a powerful tool that allows sellers to increase profits, reduce consumer surplus, and service buyers who would otherwise be priced out of the market, an outcome that increases economic efficiency.

It can be deduced that for firms to price discriminate, especially for the first and third degree type, detail information, characteristics, and the socio-economy status of each customer or group of customer is required.

This paper will discuss the theory of price discrimination in the real world internet business, its implications and recommendations.

The Internet as a Marketplace

Besides personalizing product offerings, the internet has enabled (Bakos 1998):

Digital information such as music allow perfect copies to be created and distributed almost without cost via the Internet.

Search - it lowers the buyers' cost to obtain information about price and product features as well as sellers cost to communicate such information.

Facilitation – the cost of logistics has been estimated at more than 10% of Gross National Product (GNP). Electronic marketplaces improve information sharing, helping lower cost of logistics and promoting quick, just-in-time deliveries reducing inventories, compounded by information systems replacing physical systems.

Enables new types of price discovery like auction of last minute un-sold airline seats and emergence of intermediaries like Priceline and e-Bay auction.

The decline of online privacy has been a boon to organizations' increased ability to price discriminate (Odlyzko 2003).

Price Discrimination on the Internet (Net)

The ability to customize products and prices greatly improves sellers ability to price discriminate (Bakos 1998). All three types of price discrimination are more common in markets which are characterized by high fixed costs and low marginal costs – a situation endemic on the Net (Koch & Cebula 2002). The three degrees of price discrimination are evaluated in the internet sphere.

First degree

The first degree price discrimination which involves a firm selling each unit of good or service to the individual who values it most, has witnessed success in auction websites namely eBay (Guttman & Maes 1998; Koch & Cebula 2002). However one limitation exists being the seller generally cannot prevent Net users from reselling the units they just purchased (Koch & Cebula 2002)

First degree price discrimination, in which the buyer is charged his maximal willingness to pay, has long been treated in the literature as an unattainable ideal, however the erosion of privacy and improved IT systems will enable a close approximation to this ideal to be achieved (Odlyzko 2003). Though, Odlyzko (2003) argues it could lead to an Orwellian economy in which a package of aspirin at a drugstore might cost the purchaser $1 if he could prove he was destitute, but $1,000 if he was Bill Gates or simply wanted to preserve his privacy.

Second Degree

More common is second degree or non-linear dependent on the volume or units of purchase, for example internet calls through Voice-Over-Internet-Protocol (VOIP) rates offer flat rates upon certain quantity or for a month of unlimited calls, and different rates for one time calls, refer Appendix-1 (Sykpe 2011). It is noteworthy that Deneckere & McAfee (1996) demonstrated that all parties of these transactions may be better off because there is a possibility that without second degree price discrimination, low quantity / low quality consumers might not be served at all, e.g. Skype would only cater to larger customers only.

Third Degree

Third-degree price discrimination is as common, for example how Dell using its online portal sets different prices for different segments between private, government and individual buyers (Riley 2006).

Therefore the internet has resulted in a veritable orgy of Pigovian price discrimination (Koch & Cebula 2002). Differential pricing is a natural outcome of profit seeking forces and may easily contribute to economic efficiency, and as such forcing a policy of flat pricing in an industry where it is inappropriate due to the nature of the technology may have perverse consequences (Varian 1996).

Price Discrimination, the Internet and Privacy

The internet has opened a new opportunity for commerce, bringing along its own challenges in maintaining privacy. With the reduction in search and switching costs on the net, would a Bertrand-like competitive outcome where firms select independently the prices they charge for the product and that every firm has to supply all the forthcoming demand at the price it is setting be expected (Vives 2001, p. 117)? This does hold true in some sectors where intense online competition has exerted downward pressure on prices, for example in the retail insurance and computer industry (Brown & Goolsbee 2000; Daripa & Kapur 2001; Goolsbee 2000).

The internet allows sellers to collect a remarkable wealth of information about their existing and potential customers, giving retailers some market power, enable better price discrimination, and retailers will find devices to raise switching costs organically from within the product, through loyalty schemes and deliberate product differentiation, allowing them to discriminate in the future (Daripa & Kapur 2001). Electronic marketplaces support personalization and customization by using consumer tracking providing relevant demographics, consumer profiles to estimate their specific preferences, and also information-rich products lend themselves to cost effective customization like delivering an electronic newspaper tailored to the interests of an individual need not be more costly (Bakos 1998)

So since price discrimination requires market power, to what extend would growth of online price comparison services corrode this market power? Daripa & Kapur (2001) comment that existing technology allows retailers to distinguish between customers referred by price-comparison sites and those that access them directly, to the extent that the former are to be more price sensitive, it could set a lower price for those referred by shopping agents and charging higher for the latter.

According to the famous 1993 Pat Steiner cartoon in The New Yorker, "On the Internet, nobody knows you're a dog."But in practice, there are many who not only know you are a dog, but are familiar with your age, breed, illnesses, and

tastes in dog food" (Odlyzko 2003). Net firms utilize the massive experience data they collect on the Net to tailor products to specific customer, offering lower prices if we haven't purchased anything, or sending related offers e.g. travel discounts after buying a book on a tourist destination, or even offer a higher price if our characteristics suggest to them our demand for a particular good is less price elastic (Koch & Cebula 2002). So, the Internet offers not only the possibility of unprecedented privacy, but also of unprecedented loss of privacy, and so far privacy has been losing (Odlyzko 2003).

Search is far from perfect and sellers can sometimes reduce the efficiency of price search services through deliberate obfuscation, secondly the Internet makes it easier for retailers to track their rivals' price and reach rapidly, possibly even making implicit collusion likely, resulting in higher prices (Daripa & Kapur 2001). Clearly, the internet has increased the information available both to the consumer and the seller, and as such depends on how each side makes the best advantage of the available information. But on a whole the answer is not straightforward, as part of the difficulty lays in that the Internet increases the information available both to sellers and buyers, therefore depends on the relative ability of each side to manipulate and use that information to their advantage (Daripa & Kapur 2001).

Asymmetric Information

As discussed if search costs continue to fall, sellers are worse off since buyers can find the lowest-cost seller, while buyers benefit from the lower prices and their improved ability to find products that fit their needs. The dynamics of friction-free markets are not attractive for sellers that had previously depended on geography or customer ignorance to insulate them from the low-cost sellers in the market (Bakos 1998).

Therefore sellers have responded in a number of ways, through further advertisement on the web and using referral from highly regarded websites trying to get the upper hand in providing asymmetric information. Asymmetric information is likely to generate price dispersion (some consumers paying higher prices than others) and the mean price paid by all combined could be higher (Bryjolfsson & Smith 1999, 2000). Some sellers make it difficult to compare the price of alternative product offerings, and they attempt to collect information about buyers that allows more effective price discrimination. Airlines, for example, have implemented extremely complicated and ever-changing fare structures, flight restrictions, and ticket availability, sometimes offering hundreds of fares for travel between certain pairs of destinations (Bakos 1998).

In certain cases where quality may be uncertain and/or experience goods are involved, a comfortable branded portal (e.g Yahoo!) may signal consumers that a good or service advertised therein is reliable and of high quality (Kihlstrom & Riordan 1984; Nelson 1974).

Therefore significant asymmetric information is achieved through heavy marketing and affiliation. In 2001, firms were expected to spend $8.1 billion advertising on the Net and by 2004, it was projected that this spending will have risen to $24.5 billion, or 8% of all advertising expenditure (Lawrence 2001).

Basically even though some net advertising diminish search costs because they supply factual information about price and quality to consumers therefore exert downward pressure on prices, the opposite is true for advertising focusing on branding a good or service which is to diminish price elasticity of demand so that sellers have an enhanced ability to raise prices and / or retain customers (Koch & Cebula 2002)

Conclusion

It has been discussed that price discrimination requires some pre-requisites to work in markets and such characteristics were observed on the internet as a marketplace. Interestingly most consumer have taken the internet for granted and assumed that it always offers lower prices compared to brick and mortar shops, but the research quoted has indicated that this is not true in every case.

Instead it is those who are internet savvy, knowing how to guard their privacy that would get the best o the internet. In fact, those that can tweak their own internet profile can disguise themselves and get the best of bargains. On the other hand, the same applies for the seller, of which can best manipulate such information on the net and provide an asymmetric layer of information will likely be better off in reaping profits and market share. Interestingly though as discussed price discrimination brings out economic efficiency, and is not always a bad thing.

So the question that arises is governments role in this area which has been vague. The problem is that price discrimination often does provide real measurable gains for social and economic welfare and is not just a measure for increasing profits of sellers, as is often suspected (Odlyzko 2003). Increased price discrimination is often associated with increased competition as well as increased economic activity, and works to decrease profits (Odlyzko 2003) but Perloff (2009) states that in a perfect price discrimination compared to competition, total welfare is the same, consumers are worse off, and firms are better off .

Recommendation

Based on the above, recommendations are made as below:

Information is power

Consumers need to be educated and need to be aware that the internet is not free from price discrimination, and must possess the knowledge and tools to determine what information is shared and what is private. They will need to know how to safe-guard their private information, and be aware of their rights. The objective is to prevend a shift of consumer surplus to producer surplus (Bailey 1998).

Business alike will need to be aware of consumer patterns, preference and characteristics. Undeniable, providing fast, easy access to products required by customers of which prior to purchase can be checked for reviews regardless of demographic difference is one of the boons to the internet business. Customers value and prefer this convenience, and sellers will need to have such technology to continue to provide and enhance such. This is the true value of the internet, and continuing to provide such services will see further growth in the industry.

Being the 'average consumer'

Consumers may develop a strategy that while not perfect, would result in them being treated like and "average consumer" which conteracts a retailer's price discrimination strategy. Consumers can use anonymous gateways (hiding their Internet Protocol (IP) address), to create a virtual identity, as such with no information about the consumer, the retailer can only set a price for an average consumer (Bailey 1998)

Internets' Social Networking Power

The consumer now has a strong force that previously did not exist. Social networking sites like Facebook and Youtube has enabled a window for consumers to create significant impacts to companies, by either liking, complaining or demanding changes from companies, which has had snowball effects, to extent where governments are also vary of such power of the social networks. If used properly, such networks provides a strong yet free consumer powered mechanism to drive sellers to provide the best of their goods and services or risk major market share losses.

Ad-hoc institutions of Regulations

The internet community must continue developing and maintaining ad hoc institutions such as chat sites, community review sites like tripadvisor, that circulate information and provide the leverage for public pressure against inappropriate cyberspace behavior (Weiss & Mehrotra 2001). Online ventures like TRUSTe which operates much like the better business bureau, stamping its seal of approval on those digital enterprises that conform to established privacy principles should be given more prominence. The consumer should demand such seals of approval before deciding on a purchase or service (Weiss & Mehrotra 2001).

Government Interference

Government interference should be kept at a minimum and as a supervisory role. However strict regulations and determinants should be set to ensure no un-authorized sale or sharing of user information happens, and companies be liable to safe-guard such information what was provided by the customer if and when privacy was requested. Some websites have fine-print which by default opts-in a member into sharing of private information with other parties, and similar dubious tactics should be policed. However the overall sales and purchase on the internet should just be governed by the laws and norms that already exist. Putting too much pressure on online sales could dampen the industry on a whole.

Appendix

Appendix 1

Reference

Bailey, JP 1998, 'Internet Price Discrimination: Self-Regulation, Public Policy, and Global Electronic Commerce', University of Maryland.

Bakos, Y 1998, 'The emerging role of electronic marketplaces on the internet', Communications of the ACM, vol. 41, no. 8, pp. 35-42.

Brown, J & Goolsbee, A 2000, 'Does Internet Make Markets More Competitive? Evidence from the Life Insurance Industry', NBER Working Paper 7996.

Bryjolfsson, E & Smith, M 1999, 'Frictionless Commerce? A Comparison of Internet and Conventional Retailers', Massachusetts Institute of Technology.

Bryjolfsson, E & Smith, M 2000, 'The Great Equalizer? Consumer Choice Behavior at Internet Shopbots', Massachusetts Institute of Technology.

Carlton, DW & Perloff, JM 2005, Modern industrial organization, 4th edn, Pearson/Addison Wesley.

Daripa, A & Kapur, S 2001, 'Pricing on the Internet', Oxford Review of Economic Policy, vol. 17, no. 2, pp. 202-16.

Deneckere, R & McAfee, RP 1996, 'Damaged Goods', Journal of Economics and Management Strategy, vol. 5, no. 2, pp. 149-74.

Goolsbee, A 2000, 'Competition in the Computer Industry: Online versus Retail', in Graduate School of Business, University of Chicago.

Guttman, RH & Maes, P 1998, Cooperative vs. Competitive Multi-Agent Negotiations in Retail Electronic Commerce, Springer Berlin / Heidelberg, Cambridge MA.

Kihlstrom, RE & Riordan, M 1984, 'Advertising as a Signal', Journal of Political Economy, vol. 92, pp. 427-50.

Koch, JV & Cebula, RJ 2002, 'Price, Quality, and Service on the Internet: Sense and Nonsense', Contemporary Economic Policy, vol. 20, no. 1, pp. 25-37.

Krugman, PR & Obstfeld, M 2003, International Economics - Theory and Policy, Addison Wesley.

Lawrence, S 2001, 'Online Advertising Growth Cools in 2001', Industry Standard, vol. 4, no. 79.

Nelson, P 1974, 'Advertising as Information', Journal of Political Economy, vol. 82, pp. 729-54.

Odlyzko, A 2003, 'Privacy, Economics, and Price Discrimination on the Internet', paper presented to ICEC, Pittsburgh, PA.

Perloff, JM 2009, Microeconomics, 5th edn, Pearson Addison Wesley.

Riley, G 2006, Markets and Market Systems, Eton College, viewed 10 April 2011, <http://tutor2u.net/economics/revision-notes/a2-micro-price-discrimination.html>.

Sykpe 2011, Skype Unlimited Calls, viewed 8 May 2011, <http://www.skype.com/intl/en-us/prices/payg-rates/&~~SPECIAL_REMOVE%21#%7E%7Egt;.

Varian, HR 1996, 'Differential pricing and efficiency', First Monday, vol. 1, no. 2.

Vives, X 2001, Oligopoly pricing: old ideas and new tools, illustrated, reprint edn, MIT Press.

Weiss, RM & Mehrotra, AK 2001, 'Online Dynamic Pricing:Efficiency, Equity and the Future of E-commerce', VIRGINIA JOURNAL of LAW and TECHNOLOGY, vol. 6, no. 11.

--> ps this entry is the 5th in my series of MBA written assignments. The previous one is titled What Makes Someone A Better Business Leader which you can read by clicking here.

Pangkor - Trip Planner Series

2011-03-13T23:38:00.031+08:00

Pulau Pangkor / Pangkor Island

Usually when planning a trip, I refer to trip advisor and other blogs on places to visit, directions, reviews and also hotel recommendations. However one thing I noticed is that though most of them provide helpful information, the challenge I have is putting everything into a 'plan', i.e planning an itinery of my trip. For example I know what are the nice places, but where do I go first, what time do I go somewhere and what do I do next. So in this entry for our trip to Pangkor, I'm going to blog in a chronological method with suggested timings and locations.

How many days to spend in Pangkor?
Ideally I would say on Pangkor Island, 2 days 1 night would be sufficient to cover the island. If you are going for a relaxing trip and have the time (and money) definitely Pangkor is relaxing and you can spend more time there.

Getting to Pangkor.
Frankly I was a little worried on figuring out the best route to Pangkor, as some friends have taken different route. I am driving south from Penang. For driving directions, I found Pulau-Pangkor.com the most helpful. If you are driving from North to South, you don't have to take the Ipoh exit as it is further. Take the Changkat Jering exit and follow directions to Lumut. After the Highway exit at Changkat Jering, it took around an hour plus to get to Lumut.

The road condition on the trunk (non-highway) road here is quite decent, however it is rather winding, and as it cuts across oil palm plantations, your journey can be slowed due to slow moving trucks. However the drive is scenic and cool.

Getting to Pangkor Island (Pulau Pangkor), there are actually a couple of options, however the one we used would probably the most common one i.e Lumut Jetty. If you are going to hotels like Pangkor Laut, you would need to get on another jetty which the hotel operator would advice you.

A nice traditional house on the way to Lumut

Parking in Lumut
There is a government (city council) multi story parking which is walking distance and a shaded walk to the Jetty / Pier. It cost me around RM10 per day to park there. Reasonable to me, as it seemed rather safe and convenient.

Shaded Walkway from Multi Story Parking to Jetty

Arriving at Lumut
Once you arrive in Lumut town, you will be greeted by the Waterfront Promenade. There are a number of shops there selling souvenirs, batik and of course, Pangkor's famous fish / sea products, namely all sorts of crackes. A must try.

Lumut Waterfront Promenade

The jetty is well done, and a return ticket (remember to keep your ticket for the return trip) is RM10. It seems though there are a couple of booths selling tickets, they have 'joined' and regardless of which booth you buy your ticket, you get onto the same ferry.

Lumut Jetty

They've got basically a closed deck ferry and an open deck ferry. Getting on the open deck ferry is an experience on itself, having an open view of the sea and islands. Getting an open deck or non-open deck is basically a matter of timing & luck. If the waiting ferry for the next trip is open deck then you are lucky. As going to Pangkor we didn't get the open deck ferry, on our return trip, we waiting for an open deck ferry before getting aboard as we were not in a hurry.

Inside the closed deck ferry, yes you see the life jackets readily there. That's good. The ferry ride to Pangkor takes approximately half an hour, and frequency is around once every 30 to 45minutes. I'm not sure if you can pre-buy tickets, but on off peak days you should easily get tickets for the immediate ferry.

Lumut is also one of Malaysia's naval base, so on your ferry ride, you will be able to observe some navy ships. There are also shipyards there (owned by Bousted Shipyards I presume?) which constructs / repairs ships.

Naval ships.

The ferry basically first stops at the Sungai Pinang Jetty in Pangkor island, a jetty mostly used by locals.

Fishing boat near the first stop

So get down at the 2nd (and final) destination. If in doubt just ask one of the locals.

Arriving in Pangkor Island

I would suggest to arrive in Pangkor latest by 5pm. Why? Well, Pangkor offers some pretty amazing evening activities, among others hanging out by the beach, playing in the waters, and enjoying the sunset.

Once you arrive in Pangkor, you can either rent a bike or car, or get a taxi (which happens to be Pink colored vans). Once you walk out the jetty, you will see a couple of guys offering vehicles for rent. I rented my car from Zaq, you can probably call and pre-book 017 -5390565. Point of note is most cars (not sure maybe even all) are manual transmission (manual clutch type gear box) against auto transmission. Car rental would probably cost you around RM60-70 during off-peak season

My advice is if you are not that familiar driving manual transmission car, give car rental a skip unless they can offer you an auto transmission car and just pay for a taxi. The roads are unlike Langkawi, here the roads are steep and rather winding. So same consideration goes for renting motorbikes (mo-pads). The back road, from Pan Pacific through the airport is probably the most steep.

Tricky Roads

Pangkor Map Provided by Pulau Pangkor.com 2004-2011

Pangkor island is relatively on the West of Malaysia, and has a good view of the sunset on the beaches on the west coast of Pangkor. We initially headed for Nipah bay for the sunset, however due to the current sun location it was blocked by the island ahead. We found Teluk Ketapang to offer the best Sunset view during our visit. Sunset time usually ranges from 7pm onwards. A good benchmark would be to find out Maghrib prayer times, which you can google or check outhttp://www.halaljakim.gov.my/e-solat/ and select Pangkor, Perak. So you basically want to reach your sunset viewing location at least 30 mins before to start enjoying the progression of the sun setting.

There are a number of viewing points which you might prefer to enjoy the view of catch sunset.

View from Viewing Point

The viewing points have a nice look to it, but not that well maintained.

View of Viewing Point

The stairs are rather steep and winding (hmmm, something like the roads here). So not suggested for elderly or those that get dizzy fast?

Here's how our sunset experience started when we reached Ketapang Bay (Teluk Ketapang). This beach is not that crowded, and has nice sand and a great view.

The sunset has its own beauty and glory. Changing the color of the sky, clouds, combined with its reflection on the sea water.

You will definitely enjoy many shades of colors.

With the looks of a blazing sun and burning sky.

With the sun glaring right into your eyes. Closing on into the horizon.

The effects of the sunset even somehow adds a classic view to the beach and the trees (almond trees?). Which accentuate the beauty of the red leaves and the leaves drying on the sand.

And the sun starts to bid farewell.

And we also get a nice experience of the fisherman coming on shore, and pulling in his fishing net.

Pulling in his net

Going through his catchings of the day. Alas, doesn't seem bountiful.

Picking the fish out

He did catch this squid. An amazing sight to me.

Looking at squid looking at you

Sun has set. Now what? As we hadn't checked in yet, we headed to our hotel, Anjungan Beach Resort. As I mentioned, when I plan my trip, I usually go to a number of websites and read the reviews. What matters most is user / travellers review. And I have to thank Trip Advisor and the many travellers who recommended this place Trip Advisor Anjungan Beach Resort (and Spa) Review. Initially I was a little worried, as eventhough this Hotel was highly recommended (#2 in Pangkor per TripAdvisor) there were some negative reviews. However I decided to go with the majority of reviews and also the reviewers that had traveled more. And I was not dissappointed.

Accomodation at Pangkor - Anjungan Beach Resort

There are a variety of hotels to choose from depending on your budget. You can get started here with a summary of the available hotels in Pangkor.

When we arrived at Anjungan Beach Resort, few things came to mind.

1. It is really strategically located, i.e at Teluk Nipah. What this means is no worries on dinner as there are many stalls and restaurants nearby. Do note some other hotels are located far from restaurants, so double check on in-house dining and also consider having a transport.

2. Entering the hotel perimeter, the view was breathtaking.

Below is a view of the hotel during day time.

Wondering how I managed this 'ariel' view? Well I climb up one of the buildings and took this fabulous picture. The pool is shaped as a ship's hull with the rooms surrounding the pool.

The view to the beach is rather blocked due to some stalls being built by the local council, probably to house the shops and restaurants. However the beach itself is still easily accessible.

The interior was spacious and nice. It had a homely feeling. It doesn't give you a 5 star hotel feel, and as I talked to the owner he did mention this place is around a ~3 star. No complains. by the way, it is a family run business.

If your room is on the ground floor, you can drag your rattan chair by the balcony and enjoy the pool.

Spacious

Nice queen size bed.

Overall we were happy with the room, only concern would be some cobwebs and little paint worn off in the bathroom.

The front lobby is well setup and cozy. They've got some nice sofa with small bolsters and if you look carefully in the picture below, a bookshelf by the stairs. So you can actually just relax here and enjoy reading a book or use their free WiFi available at the lobby.

The lobby is also where breakfast and lunch is served. Note breakfast is not inclusive, and cost me around RM12 plus for a nice breakfast. There would be a rolled ordering print out you fill up and they will collect and prepare accordingly. Getting your breakfast would take little time due to little staff. We found breakfast wholesome and nice.

Would I come back and stay here again? Definitely I would, it is value for money, owners are friendly, the pool is really nice and even during nights its nice to sit by the pool. Location is a sure plus as well. You can check out Anjungan Beach Resort, Pangkor by clicking here.

Nipah Bay at Night

It is quite happening, a number of souveniers and shops. Quite lively, with stalls offering karaoke etc. Below a chap doing writtings on key-chain at the souvenir shop.

Cross Island - Wading to Pulau Giam

After breakfast, suggest to quickly head off to Coral Beach, around 5 minutes walk from the hotel. An unforgettable experience is to wade across the low tide to a nearby island Pulau Giam. Once at Coral Beach, check with the locals or beach boys on how'fs the tide and around what time to head back to Pulau Pangkor. Obviously you don't want to loosehotels in Pangkor track of time and get 'stuck' in the island once the tide picks up. There are many people wading across so just take note of the crowd movement as well when to head back.

I would suggest to start walking when the water is 'ankle level' or slightly higher. It is enjoyable and you will come across some beautiful coral during your walk.

Here's the destination Pulau Giam. Around a nice stroll of 15minutes journey.

Some of the pristine corals, below one was some seaweed (?) floating across.

Here's a nice one. Has a striking red color one it.

Below is a sea cucumer variant, locally know as Gamat. Gamat oil is known to have medicinal properties and is sold in nearby shops. Langkawi Island would be more famous for Gamat though, not to mention its beautiful corals by Pulau Paya in Langkawi. Gamat is said to have among others tissue repair properties, refer to Fatty acid compositions in local sea cucumber,Stichopus chloronotus, for wound healing

Arrived at Pulau Giam. Now what? Just relax, take pictures and enjoy.

Pulau Giam...Possibly a hangout for monkeys so don't leave your belongings un-guarded.

Here's someone you probably know, posing in Pulau Giam, the background island is Pulau Pangkor.

Some people looking for some sea food. :)

Once you have had your time in Pulau Giam, you could head back and go to Teluk Nipah and enjoy the water rides, or chill at the beach. There are people bathing / playing in the sea. On average the sea is rather calm. Play in areas away from the jet skies though just to be safe.

Actually one of the most fun activities at the beach is FREE. Yes, the locals have made a number of swings, from plank swings to rope swings and so on. Just ask them and usually they would be more then happy to let you have a go at it.

Here's a go at the below swing. Little bit hard to take off and hang on, but definitely enjoyable. Just look at the wide smile (tersenyum lebar)...

Next you can just drive (or get a taxi) to go around the island. Below is another Jetty, believe the private jetty for Pulau Island Beach Resort (formerly Pan Pacific Resort).

Beow is probably the only and rather small round-about in Pangkor.

A chinese temple.

Deep sea fishing ship building.

The Dutch Fort. The actual fort is in the backdrop. The front bricks look 'revitalized'.

The Dutch Fort Story:

The bike below next to the Dutch Fort looks more antique if you ask me. :)

Also go to the Fish Satay Factory which has an abundance of sea by-products snacks and crackers.

Next is Daddy's Cafe. This place is also highly regarded at TripAdvisor . Definitely the ambience is nice, and during some time of the year, it would have a direct view of the sun setting.

We ordered some food however found it average. Probably we should have ordered some other dishes and the Curry Prawn was to spiced up, even to an Asian taste. Price middle to high.

But look here what we saw. Yes, the majestic HornBill. We have travelled to Langkawi, and Sarawak (land of Hornbills right?) but never saw a hornbill in the open. Really nice. Somehow looks like a plastic replica, but this is the real thing. It flew away. Locals say best time to see these birds would be in the evening when people feed them. Check again with the locals. So yes, in your trip to Pangkor, find out when and where to get a glimpse of this animals.

Heading Back to Lumut

Yes this time we waiting for the open deck ferry. A really nice experience.

Zooming back...

After reaching Lumut, we drove off to Teluk Batik, around 15minutes drive from Lumut. We stopped by the road side to enjoy some Durian first.

We couldn't find our Hotel, Teluk Batik Beach Resort, but reached Teluk Batiks' esplanade. And guess what, the sun was setting.

We ran off to the beach to enjoy.

Burning skies.

Actually the Teluk Batik Resort was just few minutes drive from the esplanade, we checked in. It is a Service Apartment type of concept.

If you are planning a trip, frankly Teluk Batik Resort is a place to just laze. Nothing much. I signed up for a package for Teluk Batik as below with some freebies thrown in.

Rooms are large and spacious. There is a wash basin and fridge, but no cooking.
Bedroom and hall divided.

Bathroom. Some leaking water from the shower.

The pool looked nice.

Breakfast was complimentary. Nothing to shout about.

We had free tickets to the Man Made Marine / Snorkeling Park.

Man Made Marine / Snorkeling Park

Mr Turtle there to great you. It's located at Notty Resort, opposite Teluk Batik Esplanade. There is also a restaurant that's nice to hang out there at night.

Basically the man made snorkeling is a large pool with marine life (mostly or all just fishes). Nothing great, but if you never snorkeled and want a basic experience can give it a try. Snorkels and life jacket are available.

Then we lazed at the beach. Though hot, the shade from the tree was ample.

Beach chairs for rent.

Also had free tickets for sea shell museum. Decent experience. Recommended if you are really into sea shells.

Heading back home.....

Golf Hoildays with Golf Kings

2011-02-15T20:32:00.010+08:00

I've written and been to a number of destinations and places to see. among them Phuket, Theme Parks, India and so on.

Among a number of new tourism concepts have appeared, being driven by demand, among others medical tourism and golf tourism.

Golf actually originated from the Scotts, and was a game played by the many, not just and elitist sport (ref Wikipedia). Golf has now spread across the globe, and among the interesting things in golf is obviously the course. This leaves a lot to the imagination, coupled with the terrain, weather and obstacles, therefore different golfing courses, across countries, regions and continents potentially offer a wide variety of experiences and challenges.

One such company that offers golf holidays is Golf Kings. GolfKings specialises in golf holidays in the Algarve, Spain and Mauritus. Golf holidays can include airline flights, or you can opt to book your own air travel.

Algarve in Portugal boasts natural beauties and plenty of beaches coupled with a Mediterranean climate. Golfkings' options in Algarve include the Dona Filipa & San Lorenzo Golf Resort and Penina. The golf hotel / resorts offered, Dona Filipa & San Lorenzo Golf Resort is rated above average and offers highly appreciated golf course and dining.

As for Penina it is rather highly rated, with comments from visitors having enjoyed the golfing experience and the food.

GolfKings golf holidays includes the above hotels and a few others, available at GolfKings Algarve

Among other options for golf holiday goers is Spain, at Costa del Sol, a region in south of Spain, with many resorts located along the coastline. If you are opting for Spain for golf, GolfKings offers such arrangements including tee of times, car hire and transfers, GolfKings Costa Del Sol. For more information on Costa Del Sol check out its tourism board site at http://www.visitcostadelsol.com/

Another goal tourism site to consider is Turkey. Belek is located in the Turkish Mediterranean Coast. The Sirene Belek Golf Hotel among others is an option to consider. It is rated rather highly, with a significant good for value golfing experience. For arrangements you can consider GolfKings'@Turkey.

If you have your options open, or are considering different locations and golf courses, you can key it in into GolfKing's search box in their main website, which I found to be quite comprehensive of their offerings.

Enjoy and happy golfing.

Note - This is a supported review.

Money Changer Forex in Penang

2011-01-24T23:22:00.004+08:00

Where do I find a Money Changer / Foreign Exchange booth in Penang?

I have written quite a number of blog entries related to travel, among others Visiting India , precious traveling tips in India, Penang to Phuket and even a marketing analysis on Firefly vs its LCC competitors

So one of the obvious things we need to do is get some foreign currency prior to traveling overseas. It is always a good idea to
1. Carry currency of the country of your destination.
2. Keep some spare local (your home / return country) e.g. for return taxi fair and so on.
3. Keep some commonly accepted foreign currency usually the USD, Pound or Euro. Travellers cheque is also useful and provides some security against lost as it requires you to sign off on the travellers cheque when using it.
4. Internationally accepted credit card, e.g. Visa / Mastercard.

Sometimes we think its ok not to have local currency of the country of destination, however beware as sometime even the airport taxi requires cash and does not accept credit card, e.g. I think the Airport Taxi in Penang is a clear example.

So as you are travelling overseas, the question arises, where do I exchange currency?
Note most banks DO NOT offer foreign exchange except mostly at airports. And even those at airport charge a ransom, i.e are unreasonably cut-throat so that should be a last option.

In Penang, there are a number of outlets which has money changer. Most shopping complexes have a money changer, including

Queensbay
Sunshine Square Byn Baru - on ground floor near the Maybank ATM. Go through the entrance next to CIMB Bank.
Jusco Aeon City Sbrg Prai - on ground floor as well.
Little India - I would think the best rate are at little India, my logical reasoning is there are a huge number of money changing booths / outlets from various licensed operators. In little India, you can try the many FOREX shops e.g on Chulia Street, Jalan Masjid Kapitan Keling and inside the cove.

One more thing I noticed is you get the best value for your Ringgit Malaysia (RM) in our home country, i.e. Malaysia. So to put simple exchange to foreign currency at a local FOREX booth, rather then when you are overseas.

For a list of Money Changes, check out the federal bank's (Bank Negara) link here website
Ok. Happy traveling.

ps- sometimes when I exchange money, I tend to jot down the serial number of the bank notes for trace-ability.

Travelling in India

2010-11-07T20:01:00.004+08:00

Traveling In India - Modes of transportation intercity / interstate

As I've covered in my previous blog, getting to India is mostly through air travel, and those staying in Malaysia can opt for the significantly cheap budget airlines Air Asia. The other option is JetAirways besides Malaysia Airlines.

So now once you are in India, how do you get from city to city and between states. India is a large country. Travel options vary from flying, driving, buses and trains.

Flying :
For my flights, I first used sykscanner.net, where you key in your from and to (destination) and, dates, one way or return and number of passengers. Skyscanner scans the available airlines and gives you a summary of options, including travel time, and transit if required and cost of tickets. This is really good as you get a good comparison of all airlines available, their timings and cost. A plus point is that it also 'smartly' figures out to link flights if there's no direct flight option.

I used skyscanner to identify my preferred airlines and then books through the airline website, though you should be able to book through skyscanner.

For my trips I found Indigo to offer the best rates, followed by Air India. Indigo, and Jet Airways are budget airlines, where as Kingfisher offer some other value proposition, i.e the Only 5 Star Domestic Airlines. But at times Air India is cheaper, and it does give you free meals on board!

Here's some experience sharing :
Indigo - Indigo is an interesting airline. Reason for choosing, they were the cheapest. First thing you notice on indigo airlines is that all the stewardess (yes I have not noticed a steward yet) is that they all have the same .......

Yes the same hairstyle!

Source : http://www.gadling.com/2010/09/24/galley-gossip-indigo-flight-attendants-are-forced-to-cut-their/

Indigo being a budget airline do not serve free meals on board but do have them on sale. Our take-off was delayed, and we had to sit in the plane for a while, and requested for a blanket as it was cold, the stewardess politely informed us "Sorry as we are a budget airlines, we do not carry / provide blankets". If it was Air Asia, they'd be more 'business'sy and probably offer you a blanket for sale. :) Anyway the plus point of Indigo was, the stewardess offered to increase the temperature / reduce the air conditioning, and even came back after a few minutes to check if it's ok. This really shows personal friendly touch.

Another positive experience was I called the call centre due to some requests, and they picked up after a few rings, I would say unlike AirAsia that is notoriously known to be slow in picking up calls and even wants to charge if you want to call the 'premium fast response' line. Anyway, the call person on Indigo resolved my issue immediately and I was really happy with the response. Not really putting AirAsia down, undeniably, AirAsia is the BEST budget airline with great rates and better coverage, but they do loose out on the service and people factor.

Train
The train service in India has a vast coverage, is huge and equipped with fast trains (fast not bullet trains yet). You get check the schedule at their website http://www.irctc.co.in/ and I think it includes all the trains. The good thing is that you can pre-purchase your tickets for the Air Conditioned (AC) coaches, which have reserved sits. You will need to register at irctc first before you can view their schedules.

Things to note.

i. If there is no direct train from your place to your destination you will need to figure out how to make the connection between trains, the website only provides you timings, routes and stops plus online purchases. I did not try to purchase through their website, however heard that international credit cards are not accepted, so please double confirm. There are some other sites that offer the same online purchase facility so you might want to try them. One site to check out is makemytrip.

ii. I realised that you cannot make booking on Sunday after 2pm. So if you are planning a trip on Monday morning, better pre-buy and not wait last minute, otherwise you will have to purchase the normal (no reserved) sits and probably stand. Sometimes you can buy seats from the conductor before the train departs subject to availability but you will need to go through a crowd that wants to do the same thing.

Buses

With the new highways coming up, travel by bus is also becoming an option, however most bus, even the sleepers are natural air. I just booked tickets at the counter, however redbus.in seems to be helpful having timings searchable from and to destionation and purchases.

All right then, all the best getting around in India.

Visiting India

2010-10-22T01:45:00.013+08:00

India - Useful information before planning / going to India.

Traveling overseas sometimes seems cheaper then inter-city travel at times thanks to low cost carriers. Though I am not a BIG fan of AirAsia, a big kudos to then for really living their moto, Now Everyone Can Fly.

Our one way ticket to Chennai from Penang with added baggage cost around RM400. Really good deal, and it wasn't purchased during any of those super cheap promos I believe.
We pre-paid additional $$ in foresight of access baggage as the itinerary included visiting relatives. Interestingly the flight was 65% empty.

Getting to India.
First of all, here's a simple checklist:

For Malaysian citizens you will NEED a VISA (correct as of time of blog entry).
Many people are obviously aware that visa application can be done in the Indian Embassy in KL. Now here's the GOOD news.
For those in the northern region, there is an Indian Visa Agent in Penang.
Yes, thanks to my dad for the info. Their office is in same row as my dads. It is located on Chulia Street, a few shops down Kapitan Restaurant and Sykt Hussain Surani.

The Indian Visa Centre in Penang details:

GrandLotus India Visa Centre Penang

No. 105, Chulia Street, 10200 Penang

Tel : 04-2505000, 250 5001

Fax : 04-2505002

Visa application for tourism in my case took around 1 week, and the Visa is valid for around 6 months with double entry and a required gap of x (two months if I recall) before the 2nd entry.
It costs below RM200 for the total application. In the visa form it says apply for visa BEFORE purchasing ticket.

Well some of you start to think, hey, isn't India a Commenwealth Country, do I still need a visa, answer is yes.

Language
India is a large country, with the size of its states really large relative to States in Peninsula Malaysia. Most of the states have their own languages, however as a rule of thumb, most souther states like Tamil Nadu (Chennai), Tamil is most widely spoken, where as in states like Maharashtra - Mumbai (though Marati is it's state language) and states further north, Hindi is most commonly spoken. You should be able to survive with English, however for bargaining or getting around easier, some understanding of the local language will definitely help. Hindi Classes are available in Penang both island and Mainland, check out Learn Hindi in Penang

Currency
I recall last time there used to be a ruling on the maximum amount of Indian Rupees (INR or Rs) you can bring into India, however am not sure if that ruling is still valid. Anyway, for whatever amount allowed, I would suggest to convert your Ringgit Malaysia to some Rupees from here. In Penang itself there are many money changers, in the same area as the India Visa Agent, i.e Little India area in Georgetown. If you are in Bayan Baru, there is an Money Changer in Sunshie Square as well. For that case, I think even Queensbay Mall has one now. Surprisingly (or at least to my surprise) most banks do not provide forex change services except their Foreign Exchange Forex branches at the Airport, anyhow usually the rates are better at the Money Changer.
Be careful to look at the changed notes, I sometimes even jot down the serial number of each currency in worry of getting fake notes.

Withdrawing Money in India
Before going, I called a couple of banks I have account in, here's the summary

1. Maybank - You'll notice your ATM card has got the Visa Plus / Intralink Icon, so per Maybank call centre, any banks in India (or elsewhere) that show this symbols will enable cash withdrawal. I think the charges is RM12 per withdrawal.
NOTE - you will have to inform Maybank of your travel plans to enable international withdrawal - either permanent or provide time frame.
2. Bank Islam - Currently only tie up with Banks in Indonesia.
3. HSBC - I have a credit card with them not savings, Visa.

My experience
1. Maybank - I couldn't get my card to work at the few different bank branches I tried. Possibilities :
i. Just doesn't work.
ii. It could be the ATM machines in India still use the magnetic strip, and maybe my Maybank Kawanku card's strip is damaged. Remember in Malaysia we are 'advanced' (to avoid forgery) so we have implemented the Chip in the Cards.

2. Then it occurred to me, I already requested an ATM pin for my HSBC C/C Visa so let's try that. Any yes it WORKS!. I'm not sure how much the charges and the interest rates are going to be, lets see.

Credit Cards
Remember to inform your c/c company about your planned travel overseas, to avoid your card being blocked in fear of theft and mis-use.
Ok, again, Malaysia being advanced, you will notice your Credit Cards come with a Chip / IC on the front (the one that's gold plated, looks like your mobile phone SIM card).
During my few years travel to US as well, they had yet to implement the Chip Cards.
So in India, when I tried using my card it got rejected. Luckily I managed to read the text display on the Card Reader, " Use Chip Instead".
As it seems in India the magnetic strip (i.e where they 'swipe' you card across the reader) is still in use, you will have to explain to them to 'slot' in the card in the below slot in the same machine.
Alhamdulillah for that, that the Credit Card Reader Machine has BOTH the magnetic and CHIP reader.

Calling / Telephone / Mobile Hand Phone Sim Cards
Usually when traveling overseas for more then a few days, I get a local sim as receiving calls will be cheaper, and making callls cheaper. However arriving in Chennai, we came to realize that getting a new prepaid starter kit is now rather difficult due to security concerns.

Best option is to go to one of the branches itself as for my experience the re-seller was not very 'informative'. From my understanding, if your are born / working in Tamil Nadu (Chennai's State) you will need to provide proof of this and then get a SIM. If not rather difficult. For tourists / foreigners, besides providing a couple of Passport sized photograph, and your passport as proof you will need to provide a local contact (referee) person's full name and contact mobile number. So if going on a business trip, make sure to get details of your host. Otherwise check if the hotel manager is willing to be the local contact person.

Cost Of Things
Currently for RM1 you will get around Rs 14. However for RM1 in India you will get close to 1 -2 samosas not 14!. If fyou are using a smart phone you should be able to find a Forex Apps, I'm using FX Currency on my Milestone Android phone.
So actually cost of things are nearly the same after you convert, probably lunch at an Air Conditioned restaurance would cost your RM30, then here it would be around Rs 450.

Transportation
By the way, get familiarized with the term, A/C. A/C seldom refers to the Current vs Direct Current but is short for Air Conditioning. Most taxis and obviously all Auto Rickshaws (3 wheeler motorized vehicles) are Natural Air (non-AC).

Transport by Auto Rickshaws is relatively cheap except if you get fleeced. A 5 KM ride would cost your around Rs60 which comes to RM4.50 or something. So far in Chennai, the rides have all been fixed rates, no usage of meters. Reminds me of Malaysia...

The taxis are also actually not super expensive, especially since many ply the roads with Compressed Natural Gas. Now explain this to me, Malaysia produced CNG right? Why are we so slow to adopt it then at least in our public transport. My friend was saying CNG is actually expensive and possibly subsidized in India. ??

City taxis mostly use Meter. However so far in Chennai most transport is by Auto Rickshaws or 'pre-paid cars with drivers'. I.e if I need to go to the Airport with luggage, I don't stop a taxi but get the hotel to inform the transport provider to come over and wait. Do this earlier. One more thing that might come in useful :

Do Auto Rickshaws / 3 wheelers go to the Airport in Chennai - The answer is yes and no. They will take you to the airport, however they are not all allowed to drive to the main drop-off / pick-up zone, so what they would do is drop you at the shuttle drop-off zone, and from there you will have to take a shuttle to the main arrival / departure entrance. The shuttle ride is around 3 minutes only but I am not aware of the frequency of it. So personally if you are traveling light and have time to spare, then take the auto. If not, i.e if you have a lot of luggage, traveling in a group, or short of time, maybe consider the A/C or non A/C pre-paid / pre called meter taxis.
However probably the auto rickshaws would be faster in weaving through traffic. Your decision.

Take a close look at the above picture, notice something interesting? A number of the cars have side-mirrors but are folded in. Yes, traffic is that TIGHT people are probably worried that their side mirrors will get knocked off. To be fair, my MyVi has also lost its side mirror before hahah.
Distance between spots in Chennai appear further then they seem due to the heavy traffic and road conditions.

I remember Chennai being hot and humid. But this time round (Oct 2010) wheather seems pretty nice and relatively dry. Possibly the monsoon is delayed.

One tip on taking auto rickshaws or Taxis, ask them if they know the place, because sometimes they agree to take you to a destination but get lost (intentionally or not, not sure) and might ask more. Usually you can argue your way out but better to confirm, if not ask them to ask. Most drivers proactively ask people for directions if they are not familar with that area.

Chennai Aiport
Chennai airport is currently going thru upgrading. Below is the queue for the immigration clearance in Chennai Airport. By the way Chennai was formerly known as Madras, so the Airport code is still MAA.

Once you arrive, look for the pre-paid taxi counters, there are a few. The one we used was Fastrack Car Rental. Yes I got confused, initially I thought Fast Track Car Rental would be for Renting Self Drive Cars. Not necessary, they've got a fleet of drivers that take you to your destination. Somehow when I landed on through the Domestic Gates, the pre-paid booths were visible before exiting the arrival hall, however for International Flights I did not see the booths. Anyhow if you walk slightly ahead after exiting the arrival hall you should see a 2nd set of pre-paid taxi booths, as below.

I would strongly suggest take the pre-paid taxis, are you will have luggage and the rates are fixed. Indicate to the counter if you have extra luggage, then they'll try to arrange a larger vehicle possibly.

And as the world has it (same thing is Malaysia) getting from Airport to my hotel was cheaper then from hotel to Airport. Go figure.

Our ride on the Fast Track Taxi was pleasent, the drivers name Arul if I recall. Friendly, and recommended some good places for Khana / Sapde / Makan / Eating.

Shopping in Chennai.
So far did some shopping in Pondy Bazar in T.Nagar. There's a lot of shops on that row and also road side stalls selling their wares.
Nilu managed to negotiate from Rs150 to Rs 100 and better so that would probably be the negotiation range.
Look out for defects though.
Pondy Bazar mostly has cloths, ladies shoes, shorts. The shops include stainless steel and utensil stores, also selling Soda Maker.

Local tops, shirts, jeans etc are rather cheap, this could be attributed to possibly India producing its own cotton.

Books - it seems books are relatively a lot cheaper. Interestingly, there is even a 'road side' version (not sure legal or pirated, according to the seller it is legal, cheaper version) where you can get decent books from RM20 and below. Even at the bookstores, the books are cheaper mostly then in Malaysia. You can read more buying books and the experience plus a feel of how much books cost at Books at Chennai

On a Lighter Note

Every country has got its own set of culture, or way of doing things. Here's a few pointers I've noticed so far

1. Movie cinemas are more commonly known as Theatres (similar to some other Asian countries)

2. Junctions or cross roads - locals might use the term cut. i.e take right on 2nd cut would probably mean take right at the 2nd junction. Even in US some of us will find it peculiar, where people say "hang a right" and not take a right.

3. When agreeing or saying yes, locals mostly shake their head in a particular pattern, instead of nodding which might be more common for us. So be sure you understand clearly are they saying yes or no! :)
4. Restaurant vs Hotel. When you google hotels in India or see a sign board like Ananda Hotel, remember it is not neccessary an accomodation. In India, hotel also refers to restaurants. So double confirm, and probably look out for other words used together like accomodation / lodge etc.

Accommodation in Chennai

Cost of accommodation in Chennai is average. A decent hotel would cost you around RM100, and you should get better value nowadays (as of Feb 2011) with the strengthening Ringgit. We stayed in two different hotels:

1. Malles Manotaa in Periyar Road, T.Nagar. We also walked around after checking in, and definitely Malles Manotaa to us would be the best value for money. They have breakfast, rooms are fresh, and dine-in menu items are a good variety and reasonable.

Malles Manotaa Rates & Info

2. A good option to find hotels in Chennai is to read the reviews. However there are probably some good ones that are not online as they might be new and only accept local credit cards. You can start your search here : Find Hotels, Rates and Reviews in Chennai

Eating in Chennai
InsyaAllah this will be another entry. :) Await the likes of Murugan Idli, Dhanda Jigar and differentiating a meals restaurant and non-meals.

Bukit Merah, Lost World of Tambun or Sunway Lagoon

2010-06-23T21:02:00.016+08:00

There are a number of Water Theme Parks in Malaysia, among others,

-->Sunway Lagoon at Subang , Selangor
-->A Famosa Resort Melaka
-->Lost world of Tambun, Perak
-->Bukit Merah Lake Town Resort Perak - somehow going to their website gave me a trojan warning so won't put the link here.

So which is the best water park to go to? I guess this blog can be quite controversial, as people have their own preference, and theme parks change their attractions from time to time.

My review is based on below parks and time, taking into consideration their water parks ONLY:

# Sunway Lagoon visited many years ago and last on 2009.
# A'Famosa Melaka - visited around 2002
# Lost world of Tambun, Perak - visiting mid 2010
# Bukit Merah Lake Town Resort Perak - visited 2009

Let's start with the simple Lost World of Tambun - one word - CRAP. Though they seem to boast a huge park, and a lot of marketing promotions, the rides are actually rather few. My feeling - "that's it"?

They offer both dry and wet park, however both rather dissapoint. Suggest to go hear ONLY if you haven't been to the others, otherwise you'd probably be dissappointed.

A Famosa Resort Melaka has the 'scariest, most challenging ride'. I went the with my colleague mate. And I still remember it clearly. We climb and climb and finally reached the top of the ride, and my was it a very high ride. Quoting the website it's a SEVEN story high ride. When we got there, we were in awe, and well, were going "you GOTTA be kidding!". Yes, it is REALLY high, and the way it is designed leaves much to the imagination. Finally when we RODE the water slide, it was a super fast descend, and it was literally 'burning' the trail.

So for an awesome water ride with a big plus on FEAR factor - A Famosa Resort is the choice.

Yes definitely they have other rides as well, but for this ride to still be fresh in my mind after many years, it must have left an impact to my memory.

Accommodation wise, you could probably stay at A'Famosa or Malacca.

Next Sunway Lagoon, I'm not sure is it just age or it really changed. I remember going to Sunway Lagoon water park when I was a teenager, and the water rides were fun and aplenty.

However during our visit last year, it was like, again IS THAT IT? I actually asked one of the lifeguards and he said YUP. I think they tried to diversify by making more themed parks, however having to sacrifice some water rides. Anyone any comments? Anyway as mentioned, this is the best 'wholesome' park in my point of view.

For those from outstation, you can opt to stay in Selangor or KL, however Sunway Lagoon is located in Petaling Jaya (PJ) specifically, so it would be best to get a room in PJ. Go for Sunway Lagoon Resort if its in your budget, or check out and compare hotels near Sunway Lagoon.

Definitely different people prefer different rides, I'm done with roller coasters and prefer water rides and 3D / 4D rides. Can't wait to visit universal studios in Singapore. The one in Orlando which had 3D Spiderma n was AWESOME. No it isn't one of those low cost ones where u just sit in a cinema, but this one really takes you on a ride!

And finally Bukit Merah Lake Town Resort. I actually found this water theme park fun. Eventhough we went during the school holidays it wasn't over crowded. They've got the normal water slides as below.

Here's a side view of the slides, and the sky-chair that takes you across from different parks. A good experience especially if you decide to skip the water theme park.

There are 2 awesome water rides there the Giant Bubble a first in South East Asia, as you can see below.

The wet-bubble is basically a semi-sphere (a half dome bubble), which is kept wet and you climb up, push people down and just have loads of fun. It is hard to describe, but the fun is mostly in the challenge of climbing up, yanking the rope so people trying to climb up fall and jumping on the bubble and pushing other people down. Not sure but the life-guard didn't like it when we jumped too much on the top of the bubble.

The bubble is limited to 6 pax per turn. So there's naturally a slight queue.

And then the Boomerang Slide. This is also fun and gives you a 'roller coster' feel without the dizziness.

Per entry just for the water park is RM25 per adult. Rather reasonable. My only complain would be the wave pool didn't have any WAVES! The life-guard said it's broken. To bad.

Getting there - That the PLUS North South Highway and exit Bukit Merah. The Resort is just five minutes from the drive and sign-boards are a plenty.

For accomodations in Bukit Merah, you can either call Bukit Merah Laketown Resort or book online and check prices for Bukit Merah Laketown Resort

Besides staying overnight, a day trip is also sufficient. However if you are coming from far, another option I would recommend to stay at Taiping as there are a number of things to do there and Bukit Merah would be not to far a drive. Things to check out at Taiping are the Zoo / Night Safari, Lake Gardens (Taman Tasik Taiping) and definitely Maxwell Hill. Click here for hotel in Taiping.

Enjoy!

WHAT MAKES SOMEONE A BETTER BUSINESS LEADER

2010-06-23T19:42:00.005+08:00

The paper is from the subject Leadership and Management (L&M). I found the topic rather interesting, with the local lecturer beingvery informed and having a vast array of experience. And as usual, once my results are out, I publish my report at my blog. Hopefully readers find it an insightful reading material, and can serve as an example of a write up. Remember no plagiarism, (this content is easily google'able).

So here's my forth post, after the third post some time back titled PROGRESSING POSITIONS TO ISSUES AND INTERESTS COMBINED WITH FRAMING TACTICS.

What Makes Someone a Better Business Leader

TABLE OF CONTENTS

Executive Summary. 4

1. Definition. 5

2. Are Good Leaders Born?. 6

2.1. Good Leaders are not one of a kind. 7

3. Leadership Practices. 8

4. Self Awareness and Conquering Adversity to Emerge Stronger 10

5. Learnings from ‘Not Good’ Business Leaders. 11

6. Summary. 14

7. Refernce. 15

Executive Summary

Many definitions exist for a leader. What is common among these many definitions is leadership should achieve an objective using certain means and approaches. Leadership is present in businesses, governments and other entities. This paper will focus on the business aspect only. A business enterprise function is to perform its economic activities effectively. Therefore a better business leader is someone who achieves an objective using certain means to bring economic benefits at a level higher and more efficient than average.

Not all business leaders are born, and definitely not all are alike. Better business leaders can be made, with a lot of hard work and time. Though there exist many definitions and characteristics about better business leaders, not all leaders are the same and cannot be ‘cookie-cut’. The one major consensus is that better leaders are self-aware. Possessing self awareness and conquering adversity to emerge stronger is a trait seen among many successful leaders. One of the most reliable indicators and predictors of true leadership is an individual’s ability to find meaning in negative events and to learn from even the most trying circumstances.

Leaders are able to lead not dictate people on a journey of learning that will reveal new insights about creating value. Kouzes & Posner (2007) define five practices to achieve this: by modeling the way, subsequently inspiring a shared vision. Then challenging the process and enabling others to act. Finally encouraging the heart by making people feel like heroes.

Based on TIME’s Top 10 Crooked CEOs among others Enron: greed and unethical is the cause. Therefore while exploring and growing ones’ capabilities, the fundamentals must remain intact: effectively communicating, taking responsibility and adhering to moral values.

It can be summarized that there is no one definition of a better business leader, but it is a title for individuals who delivery long term results, while growing oneself and team members, doing it ethically.

1. Definition

There are good leaders, average leaders, and then there are better leaders. Leaders exist in many situations, in family nucleus, in non-profit organizations, in religious sects and also in business. This paper will focus on the business aspect of a better leader. There are many definitions for leadership, with definitions varying depending on situations. For example Drucker (1955) defines leadership as the lifting of a person’s vision to a higher sight, raising performance to a higher standard, and building a person’s personality beyond its normal limitations meanwhile Chemers defines leadership as the “process of social influence in which one person can enlist the aid and support of others in the accomplishment of a common task” (cited in Riggio, Murphy & Pirozzolo 2002, p. 140). What is common among these many definitions is leadership should achieve an objective using certain means and approaches.

O'Sullivan & Sheffrin (2007) defines business as a legally recognized organization designed to provide goods and/or services to consumers (for a profit). Whereas according to Drucker (1955), a business enterprise is an organ of society which function is to perform its economic activities effectively. Blagg & Young (2001) quotes John Kotter, HBS professor that leadership in business is going through significant socioeconomic revolution, comparing it the only other two socioeconomic revolutions of this magnitude: the move from hunting and gathering to agriculture and from agriculture to industry.

With leadership and business defined, what defines a better business leader? Better is basically defined comparatively to good, being of a higher standard, or more effective than other things or people (Cambridge 2008). George et al.(2007) comment that achieving superior results over a sustained period of time is the ultimate mark of a true leader.

Therefore a better business leader is an individual that can successfully achieve objectives through people and avenues, enabling an entity to perform economic activities more effectively and sustained over a period of time.

2. Are Good Leaders Born?

Kouzes & Posner (2007) stresses that leadership is not the private reserve of a few charismatic people, it is a process ordinary people use when they are bringing forth the best from themselves and others. Goleman (2004) argues that a strong leader will not be complete without emotional intelligence. He adds that fortunately, emotional intelligence can be learned, though not easy, it takes time and most of all, commitment (Goleman 2004). Blagg & Young (2001) quote HBS professor David Thomas that leaders are 90 per cent made, mostly from abilities which are brought to the fore by their experience in life.

Goleman & Boyatzis (2008) comment that having a talent of good instincts is widely recognized as an advantage for a leader in any context, whether in reading the mood of one’s organization, or in conducting a delicate negotiation with the competition. Goleman & Boyatzis (2008) deduce that it is not easy to increase one’s social intelligence, and the only way to develop social circuitry effectively is to undertake hard work.

Therefore it can be concluded that though there are individuals who would be more apt and boast strong emotional intelligence and leadership traits, scholars mostly concur that by being self-aware on ones experience and working hard, one can achieve the road towards becoming a better business leader.

2.1. Good Leaders are not one of a kind

So if good leaders can made and groomed, would they all be one of a kind, i.e. possess a cookie-cutter leadership style?

Both ex-CEO of Lloyds Bank (Pitman 2003) and George et al. (2007) agree that there is no definitive style, or traits of great leaders and their secrets to their success. George et al. (2007) insist that if there existed a cookie-cutter leadership style, individuals would be forever trying to imitate it, making themselves into personae (a façade), not people, and others would see through them immediately.

HBS professor Joe Badaracco questions that if a person acts more like a manager yet makes an organization significantly does better without all the noise, are they mere managers (Blagg & Young 2001)? Clearly there are leaders who are extrovert like Richard Branson, but there are many successful introvert leaders as well, like Bill Gates (Kahnweiler 2009).

The following will present and discuss certain practices, traits and skills for being a better business leader, while maintaining that better business leaders are able to build on themselves, through feedback and self-reflection, successfully adjusting to the environment and required styles.

3. Leadership Practices

Kouzes & Posner (2007) define five practices of exemplary leadership. Firstly is to model the way, leaders create standards of excellence and then set an example for others to follow. One way of looking at modeling the way is to apply the research interviews by Bennis & Thomas (2002) that great leaders possess four essential skills, namely the ability to engage others in shared meaning, a distinctive and compelling voice, a sense of integrity and finally the most critical of the four, ‘adaptive capacity’- the ability to transcend stresses, and to emerge stronger than before. Practicing this four essential skills will enable a leader to clearly model the way for employees of an organization.

Secondly inspire a shared vision: envisioning exciting and ennobling possibilities, subsequently enlisting others in this common vision. HBS professor Nitin Nohria agrees, stating that effective leaders are masters of the classical elements of rhetoric, being able to distill their message however complex it may be to something that is accessible to those who many not share their knowledge or background, an example of this being GE’s Jack Welch, who is astonishingly articulate and able to convey complicated concepts in just a few phrases (Blagg & Young 2001).

Thirdly is to challenge the process, leading to a change in the status quo, challenges ranging from new products, process flows, and trying out something knew with the informed risks of failure., Forth is enable others to act, grand visions do not become realities through the actions of a single person, but requires a team effort with solid trust and strong relationships embedded.

The last step, is encouraging the heart: leaders recognize and reward accomplishment of individuals, keeping hope and determination alive consequently making people feel like heroes (Kouzes & Posner 2007). This is in agreement with Pitman (2003) who emphasizes that leaders are able to lead not dictate people on a journey of learning that will reveal new insights about creating value.

Two of the practices defined by Kouzes & Posner, namely enable others to act and encourage the heart, is resonated by Buckingham (2005) who stresses that a great leader ‘releases’ instead of transforms, constantly tweaks the environment so that the unique contribution, the unique needs, and the unique style of each employee can be given free rein. He further stresses that the success of a manager will depend almost entirely on his or hers ability to do this (Buckingham 2005). In the practical perspective many real business leaders do agree to a certain extent about the importance of developing people and that different people have different capabilities. For example Jack Welch known as a tough leader believes that there some who fit and excel in their jobs and then there are some that don’t fit and have moved on to be successful, finding their niche (Welch & Welch 2005).

Buckingham’s (2005) concept can be related to a combination of Goleman’s (2000) coaching and affiliative leadership styles, which Goleman states is focused more towards personal development than on immediate work-related tasks. He explains that the affiliative style focuses on praises and positive aspects only, while the coaching style focuses more on personal development which is time consuming rather than on immediate work related tasks (Goleman 2000). For these reasons, these styles are used least often as many leaders don’t have time in the high pressure economy for the slow and tedious work of coaching and affiliating, but instead need immediate results (Goleman 2000). Contrast in thoughts can be observed where Jack Welch the fast result oriented high achiever believes in letting go people who do not perform in an environment so that they can grow in other suitable environment (Welch & Welch 2005), while Buckingham stresses that great managers don’t try to change a person but make best of their talents (Buckingham 2005).

4. Self Awareness and Conquering Adversity to Emerge Stronger

Bennis & Thomas (2002) conclude in their research that one of the most reliable indicators and predictors of true leadership is an individual’s ability to find meaning in negative events and to learn from even the most trying circumstances. Put another way, the skills required to conquer adversity and emerge stronger and more committed than ever are the same ones that make for extraordinary leaders (Bennis & Thomas 2002).

Steve Jobs who was recently recognized as the fourth most influential managing Gurus (Kneale 2009) exemplifies this through his life story. In his Commencement Address to Stanford he shared that he had faced many challenges in life: having being adopted, being poor, dropping out of college and finally at age 30 he was fired by his own company Apple (Jobs 2005). However years later he has come back, bringing greater success to companies under him namely Apple and Pixar (Jobs 2005). He reflects that it turned out getting fired from Apple was the best thing that could have ever happened to him (Jobs 2005). It is this characteristics of emerging successfully through challenges that Bennis & Thomas (2002) stress are the crucibles or mold that makes one an extraordinary leader.

George et al (2007) findings that when 75 members of Stanford Graduate School of Business Advisory Council were asked to recommend the most important capability for leaders to develop, they answered nearly unanimously: self awareness. George et al (2007) therefore recommend that leaders should learn from their own life story, know oneself authentically, practice their values and principles, balancing extrinsic and intrinsic motivations, and finally build a support team and stay grounded. This is further supported by Blagg & Young (2001) quoting a Harvard Business School (HBS) professor Nitin Nohria, “Every one of us has experiences, but we aren’t all open to learning from those experiences in the same way”, stressing that one characteristic most leaders have in common is the capacity to learn and change throughout their lives.

5. Learnings from ‘Not Good’ Business Leaders

Most discussions about a better business leader take examples of successful and highly regarded leaders. It is also informative to analyze on the other side of the horizon: business leaders who have failed. Having an understanding of this perspective will provide a ‘to-avoid’ guideline besides the generally discussed ‘to-do’ guideline towards achieving greatness in leadership. Undoubtedly many leaders have succeeded, many have failed as well.

There are average leaders, then there are better leaders, and finally there are ‘crooked’ leaders. Leaders like Madoff and CEOs of Enron, had been regarded as good leaders for years, so what led to these leaders now being branded among the Top 10 Crooked CEOs (TIME 2009)? TIME (2009) claims that the reason for this is greed and being unethical.

Lewis (1985) identifies two points that are of importance to the theoretical foundations of ethical decisions: (1) one’s business ethics cannot be separated from his or her personal ethics and (2) business will never be any more ethical than the people who are in business. Meanwhile Allio (2007) explains that causes of this current ethical epidemic include the leaders’ personality disorders, akrasia (weakness of will), flawed values, and avoidance of reality.

Seeger & Ulmer (2003) elaborate that the demise of Enron is grounded on the failure of principle: a communication based responsibility of leaders, namely: (a) communicating appropriate values to create a moral climate, (b) maintaining adequate communication to be informed of organizational operations and (c) maintaining openness to signs of problems. Cohan (2002) concurs that the Enron scandal highlights ‘a recurring communication dysfunction within the organizational structure of the corporation itself’.

Allio (2007) summarizes that the emergence of bad leadership can be averted if leaders pay attention to the welfare of stakeholders, listen to alternative points of view, rely on their team for support, foster a culture of integrity and cultivate personal awareness. This is in fact among the recommendations made by George et al (2007) that leaders should practice their values and build a support team to stay grounded.

Seeger & Ulmer (2003) note that the examination of Enron re-affirms the role for leadership and suggests that leaders are obligated both to model and to communicate appropriate ethics and standards in congruence with their behavior. They further add that leaders are responsible about the operations of their organizations even in an era of decentralization and self–managing teams, keeping themselves informed and engaged in organizational operations. And finally, leaders have to be open to bad news, dissent, warnings and problem signs (Seeger & Ulmer 2003).

Seeger & Ulmer (2003) point out, that responsibility, perhaps because it is so fundamental to organization relationships and processes, is often overlooked, with the focus more on strategies and processes. Therefore the glamorous keywords: traits, practices and emotional intelligence skills are undoubtedly important to become a better business leader, but the basic fundamentals of ethics, communication and responsibility must not be overlooked. Indeed, Hamm (2006) believes that the real job of leaders is to inspire the organization to take responsibility for creating a better future, where the most critical tool for making this happen is effectively communicating.

Enron practiced a punitive ‘rank and yank’ appraisal system, where low rated employees tended to leave, and middle rated employees faced strong possibility of being ‘yanked’ within the next year, creating a cut-throat culture leading to deception and fraud practices to show profits (Tourish & Vatcha 2005). Drucker (1994) points out that what is required of good leaders is not just genius-ness or cleverness, but hard work and conscientious. They do not dismiss failure as a result of incompetence, but treat it as a symptom of “systems failure, and do not take credit for unexpected success but treat it as a challenge to their assumptions (Drucker, PF 1994). By dismissing failure as incompetence, Enron had created an environment leading to corrupt accounting practices and exaggerated results, which was bound to fail eventually.

6. Summary

I tend to agree with George et al. (2007), that no one can be authentic by trying to imitate someone else. They further emphasize that you can learn from others’ experience but there is no way to be successful when you are trying to be like them. (George et al. 2007). David Thomas, HBS professor puts it simply that increasingly the people who are most effective are those who essentially are both managers and leaders (Blagg & Young 2001).

Mastrangelo, Eddy & Lorenzet (2004) conclude from an extensive literature study, leaders must be concerned with both task and people related issues at workplace, i.e. professional leadership behaviors and personal leadership behaviors. They further elaborate that professional leadership works through the personal leadership to impact willing cooperation.

While exploring and growing ones’ capabilities, the fundamentals of leadership must remain intact: effectively communicating, taking responsibility and adhering to moral values.

It can be summarized that there is no one definition of a better business leader, but it is a title for individuals who delivery long term results, growing one self and team members while doing it ethically.

7. Refernce

Allio, RJ 2007, 'Bad leaders: how they get that way and what to do about them', Strategy & Leadership, vol. 35, no. 3, pp. 12-7.

Bennis, WG & Thomas, RJ 2002, 'Crucibles of Leadership', Harvard Business Review, vol. September.

Blagg, D & Young, S 2001, 'What Makes a Good Leader', Harvard Business School Bulletin, vol. February.

Buckingham, M 2005, 'What Great Managers Do', Harvard Business Review, vol. March.

Cambridge 2008, Cambridge University Press.

Cohan, J 2002, 'I Didn't Know and I Was Only Doing My Job: Has Corporate Governance Careened Out of Control? A Case study of Enron's Information Myopia', Journal of Business Ethics, vol. 40, pp. 275-99.

Drucker, P 1955, The Practice of Management, Heinemann Professional Publishing Ltd, Oxford.

Drucker, PF 1994, 'The Theory of the Business', Harvard Business Review, vol. September-October, pp. 95-104.

George, B, Sims, P, McLean, AN & Mayer, D 2007, 'Discovering your Authentic Leadersip', Harvard Business Review, vol. Februay.

Goleman, D 2000, 'Leadership that gets results', Harvard Business Review, vol. March-April, p. 16.

---- 2004, 'What makes a leader', Harvard Business Review, vol. January.

Goleman, D & Boyatzis, R 2008, 'Social Intelligence and the Biology of Leadership', Harvard Business Review, vol. September, pp. 74-81.

Hamm, J 2006, 'The Five Messages Leaders Must Manage', Harvard Business Review, vol. May.

Jobs, S 2005, 'You've got to find what you love, Jobs says', Stanford University News, no. June 14 2005, viewed 31 January 2010, <http://news.stanford.edu/news/2005/june15/jobs-061505.html>.

Kahnweiler, JB 2009, 'Why Introverts Can Make The Best Leaders', Forbes.

Kneale, K 2009, The Most Influential Management Gurus, Forbes, viewed 30 January 2010, <http://www.forbes.com/2009/10/13/influential-business-thinkers-leadership-thought-leaders-chart.html>.

Kouzes & Posner 2007, The leadership challenge, 4th edn, vol. 63, John Wiley and Sons.

Lewis, PV 1985, 'Defininig 'Business Ethics': Like Nailing Jello to Wall', Journal of Business Ethics, no. 4, pp. 377-83.

Mastrangelo, A, Eddy, ER & Lorenzet, SJ 2004, 'The importance of personal and professional leadership', The Leadership & Organization Development Journal, vol. 25, no. 5, pp. 435-51.

O'Sullivan, A & Sheffrin, SM 2007, Economics, principles in action, Pearson Prentice Hall.

Pitman, B 2003, 'Leading for Value', Harvard Business Review, vol. April.

Riggio, RE, Murphy, SE & Pirozzolo, FJ 2002, Multiple intelligences and leadership, Routledge.

Seeger, MW & Ulmer, RR 2003, 'Explaining Enron: Communication and Responsible Leadership', Management Communication Quarterly, vol. 17, no. 1, pp. 58-84.

TIME 2009, Top 10 Crooked CEOs, TIME, viewed 31 January 2010, <http://www.time.com/time/specials/packages/article/0,28804,1903155_1903156_1903160,00.html>.

Tourish, D & Vatcha, N 2005, 'Charismatic Leadership and Corporate Cultism at Enron: The Elimination of Dissent, the Promotion of Conformity and Organizational Collapse', Leadership, vol. 1, no. 4, pp. 455-80.

Welch, J & Welch, S 2005, Winning, HarperCollinsPublishers, London.

Mengkuang Dam

2010-03-16T00:45:00.006+08:00

Empangan Mengkuang or commonly known as Mengkuang Dam is one of Penang's water reservoir located in Mainland Penang. The other famous dams in Penang include the Air Itam Dam and the Teluk Bahang Dam.

You know what, I've seen dams, but never seen a Hydro-Electric Dam, those must be even more huge!

Few weekends ago we decided to go to Mengkuang Dam. The place offers a serene view, nice jogging track along the damn, benches for family and grass to just sit, loiter and enjoy the view and breeze. People come here to relax, jog and exercise, and take a break from the hectic life.

Last checked (26 Feb 2010), Alhamdulillah the dam still has lots of water during this drought

Empangan Mengkuang also offers some nice picturesque spots and views for those into photography.

Pretty nice sunset. I'd say the sunrise here would be spectacular

Parking itself if a lot, however it does get quite full during the weekends.

Notice the parking area behind me, yes, rather large

Getting to Mengkuang Dam is a little tricky to the non-locals of the area.

How to get to Mengkuang Dam / Getting there :

The best way to get there would probably be by getting on the Kulim Highway (BKE), if coming from Penang, means heading towards Kulim, and take exit Penanti / Berapit. Once you have exited, if memory serves me correct take the right, i.e towards Berapit and drive along. The drive would be around 10 minutes after the toll exit. If you're looking for a LARGE signboard written "Welcome to Mengkuang Dam / Selamat Datang ke Empangan Mengkuang", well just continue looking as I never found it. Instead look for a rather medium sized sign-board showing PBA (the water authority of Penang). Following the sign, i.e turning right on the long winded road brings you into Mengkuang Dam, just drive up and look for parking.

Ok enjoy nature.