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Saturday 11 February 2017

Leaving a legacy by buying a house first before a luxury car ...


DURING big festive celebrations such as Hari Raya Aidilfitri, Deepavali and the recently celebrated Chinese New Year, it is common to see families with a few generations gathered together.

Our grandparents, parents, uncles and aunties would talk about the legacies left by our ancestors, and the stories often attract a lot of attention whether from the young or old.

Perhaps, the topic of leaving a legacy is something worth sharing as we embark on a brand new year.

For years, I have been touched by the catchy tagline of a renowned Swiss watch advertisement, “You never actually own a (the watch brand), you merely look after it for the next generation”.

While most of us can relate to the thought, not all of us can indulge in such luxurious watches or be interested in buying one. However, at some point in time, we may be looking at buying a property to pass down to our younger generations.

Whenever the topic of leaving a legacy is brought up, I would recall the lesson that I learnt from my late father. My father embarked on a long journey from China to Malaysia at the age of 16. With years of hard work and frugality at his peak, he managed to own a bus company, the Kuala Selangor Omnibus Co.

Other than his bus transport business, he only invested in his children’s education and real estate. He financed seven of his eight sons to have an overseas university education, and when he passed away, he also left four small plots of land in Klang and a company which had 34 buses.

As I look back now, what my late father invested in unintentionally was very beneficial to me when I came back from my studies as an architect. With the land he handed down and the knowledge he equipped me with, I intuitionally got myself involved in small real estate development, and later founded my property development company, Sunrise, in 1968.

Many people have thought of leaving a legacy. The crucial questions often asked are, when should we start planning for it, and how should we go about it?

For financial planning and investment, I always believe that the earlier we start, the better off we are. The same goes to leaving a legacy.

If you plan to buy a property, it is advisable to start earlier as it is more affordable to buy it now as compared to 10 or 20 years down the line especially with rising costs and inflation in mind. You can start with what you can afford first and focus on long-term investment.

It is proven that property prices appreciate over a period of time, especially when we plan to hand over assets to the next generation that easily involves a 20- to 30-year timeline.

As a developing nation which enjoys high growth rate, Malaysia’s property values will also appreciate in tandem with the economic growth in the long run.

Nowadays, we often hear youngsters comment on the challenges of owning a house due to the rising cost of living. I believe that besides starting with what you can afford, it is also important to plan your financial position wisely and to differentiate between investment and spending.

Investing in properties, commodities, shares, etc. is also a form of savings which can help to grow your wealth and to leave a legacy. On the other hand, money spent on luxury items may depreciate over time from the day you buy them. If we can prioritise investment over expenditure, it is easier and faster to achieve our financial goals.

So, if you haven’t already started to plan, do consider leaving a legacy by buying a house first before a luxury car, branded bags or expensive gadgets, as the latter are considered ‘luxury’, not necessity.

Even if you may not have a spouse or children at this point in time, it’s better to start now than later, as our financial commitments tend to grow bigger as we progress into the next stages of our lives.

Most of us hope our lives matter in some way that can make an impact on our loved ones. The idea of leaving a legacy can take many forms, such as equipping the younger generations with knowledge and values, or leaving them fond memories.

Those are all important to work on and they leave a footprint to those lives you touch. If you are also planning to hand over physical gifts, always remember to start earlier with what you can afford, and focus on long term investment.


By Food for Thought Alan Tong

Datuk Alan Tong has over 50 years of experience in property development. He was the world president of FIABCI International for 2005/2006 and awarded the Property Man of the Year 2010 at FIABCI Malaysia Property Award. He is also the group chairman of Bukit Kiara Properties. For feedback, please email feedback@fiabci-asiapacific.com.

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Friday 10 February 2017

Where is your Datukship from, Datuk? The trouble with titles

https://youtu.be/xHCpTyBHzQM

 
Click to view graphic http://clips.thestar.com.my.s3.amazonaws.com/clips/news/2017/mainx_lazar1002_Award.PDF

Malaysia is in danger of becoming a nation with the most number of decorated people


THIS has to be a record of some sort – a notorious gang of 60 hardened criminals including four low-level politicians with the titles of Datuk and a Datuk Seri, has been netted in a series of swoops.

The Gang 360 Devan gang, involved in murder, drug-pushing, luxury car theft and hijacking, has to be the gang with the most number of titled leaders.

Then, there is also the leader of the notorious Gang 24 – a Datuk Seri – who was among 22 men held in another spate of arrests.

Last December, a gang leader known as Datuk M or Datuk Muda was shot dead by his bodyguard while they were driving along the Penang Bridge. The Datuk was a detainee at the Simpang Renggam centre.

A day later, a video went viral showing a heavily tattooed man being violently beaten up by a group of men believed to be gangsters, at the late Datuk’s funeral.

Three days ago, there was a series of arrests by the Malaysian Anti-Corruption Agency (MACC) which saw a number of Datuks being arrested and charged.

If we hold the record of being the country which has the highest ratio of government servants, we may also soon be the country with the most number of titled people.

And if we are not careful, we could well be a country which has the most titled criminals.

The people being conferred a Datukship seem to be getting younger and some are surprisingly under 30 years old, which begs the question – what have these youngsters contributed to society to deserve such titles?

Last October, Singapore’s Straits Times carried prominently a news report of a teenager who purportedly became the youngest “Datuk” in the country.

“The image that went viral shows the apparent recipient of the title standing in a crowded waiting room while dressed in ceremonial attire with the caption reading: “Youngest Dato in Malaysia ... 19 years.”

The Malaysian media, which carried the news earlier, has not been able to verify the age of the person in the photo. And no one has denied the authenticity of the article, not even the person in the photo, who may actually be older than he looks.

Regardless of which state these titles are from, many Malaysians rightly deserve the recognition from the royal houses because of their community work, in various forms.

One or two states, especially Pahang, seem to be more generous in conferring awards while states like Selangor, Johor, Perak, Sarawak and Kelantan are more stringent in their selection.

The Selangor state constitution states that only a maximum of 40 Datuk titles can be conferred each year.

The Sultan of Selangor Sultan Sharafuddin Idris Shah has imposed stricter conditions – including the minimum age of 45 – for a person to be conferred the state’s Datukship, to limit the number of recipients and protect the image and dignity of the awards.

In the case of Johor, Sultan Ibrahim ibni Almarhum Sultan Iskandar has expressed his frustrations openly, saying sarcastically “that it has come to a point that if you throw a stone, it will hit a Datuk and when the stone rebounds, it will hit another Datuk”, to illustrate the point that Malaysia is in danger of becoming a nation with the most number of decorated people.

While the increasing number of people with the Datuk title has long been a contentious issue, what Malaysians are concerned about is the number of such titled persons being involved in crime.

Pictures of a certain Datuk with a visible tattoo on his hand, purportedly depicting his gang allegiance, have long gone viral on social media.

Malaysians are asking whether royal houses submitted the names of potential recipients to the police for vetting before conferring them with titles. This is a practice of the Sultan of Selangor. If that were the case with every state, criminals would not have been awarded.

I have complete faith in the ability of our police force. They will carry out their duty of checking the background of such people if asked to do so.

But what is taking place now in Malaysia is also a reflection of our people’s obsession with titles, honorifics and even fake academic titles.

Our former deputy prime minister, the late Tun Ghafar Baba, was just plain Encik, until the day he retired from office.

In Tunku Abdul Rahman’s first Cabinet, after we achieved independence, only five of 15 ministers were made Datuks.

The finance minister at the time, Tan Siew Sin, only held the title of Justice of Peace – which is recognised in Commonwealth countries.

Penang’s first Chief Minister, the late Wong Pow Nee, had no title until he retired, after which he was made Tan Sri. Another was the late Gerakan president Dr Lim Chong Eu who only became Tun upon retirement.

In short, things were pretty simple back then, with proper methodology when it came to conferring decorations, medals and titles. But not today.

There are now so many variations of the Datuk titles – Datuk Seri, Datuk Sri, Datuk Paduka, Dato’, Datuk Wira and Datuk Patinggi (depending on the states) – it has become confusing, even to members of the media.

There are now calls from some titled people that the press should use their titles accurately. I can only imagine the number of corrections the media has to deal with if mistakes are made and some snooty individual gets upset.

In the 1970s, the media decided to standardise how these title holders should be addressed by calling them all “Datuk”. The press also decided to call the Datuk Sri from Pahang “Datuk Seri”.

It is just impossible to check every single title or pre-fix when naming a person.

The reporter does not ask the police where the criminal suspect got his Datukship. Neither can we ask the Datuk criminal as he is being led to the courts in handcuffs, “Where is your Datukship from, Datuk” ?

Besides Brunei, the Malaysian press must be the only one that includes the titles of individuals. Well, there is the British media but they only address those who are knighted with the title “Sir”.

The royalty shouldn’t be the only party blamed for the increasing number of Datuks. Malaysians are willing to go to all lengths to buy the titles, even from bogus sources.

But the titles must not be bestowed on any one with a criminal record or it makes a mockery of this honour.

By Wong Chun Hai The Star/ANN

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Wednesday 8 February 2017

Penang CM corruption case, Court to rule on motion anti-corruption act 'unconstitutional'

 
In this file photo taken on 30 June 2016, Penang Chief Minister Lim Guan Eng and business woman Phang Li Khoon was seen in Penang Sessions Court. Lim was charged with two counts of corruption. The High Court here today fixed March 7 to unveil its decision on a motion filed by two accused parties in the corruption case of Chief Minister Lim Guan Eng, who are seeking a declaration that Section 62 of the Malaysian Anti-Corruption Act is unconstitutional. Pix by Danial Saad

Men of law: DPP Masri (right) leading the prosecution team out of the courtroom after the day’s proceedings.

Court to rule on ‘violation’ motion ahead of CM corruption trial

GEORGE TOWN: The High Court here will rule on March 7 whether Section 62 of the Malaysian Anti-Corruption Commission Act 2009 is in violation of the Federal Constitution.

Chief Minister Lim Guan Eng and businesswoman Phang Li Khoon want Section 62 to be declared unconstitutional as they claim it is against the tenet of “considered innocent unless proven guilty.”

Penang High Court judge Datuk Hadhariah Syed Ismail set the date after the defence and prosecution made their arguments.

Lim and Phang are facing charges under the MACC Act in relation to the sale and purchase of a bungalow in 2014 and separately filed the motion to declare Section 62 a violation of the Federal Constitution in early January.

Phang’s counsel Datuk V. Sithambaram said Section 62 must be struck down as “it is contrary to a right to fair trial and is in violation of the fundamental rights of the accused.”

He argued that the section infringes the accused’s constitutional right under Article 5(1) and Article 8(1) of the Federal Constitution.

“Section 62 of the MACC Act requires the defence’s statement and documents, which would be tendered as evidence, to be delivered to the prosecution before the start of trial.

“However, the right of an accused to be presumed innocent and right to silence are encapsulated in the Federal Constitution.

“Article 5(1) declares that no person shall be deprived of life or liberty save in accordance with law and Article 8(1) dictates that all persons are equal before the law and entitled to the equal protection of the law.

“The court has not called for defence and yet the prosecution is asking for the statement of defence, even before the court decides. This is against the presumption of innocence,” he told the court yesterday.

Gobind Singh, acting for Lim, said the provision favours the prosecution and discriminates against the rights of the accused.

He argued that Section 62 restricted the defence of the accused person by excluding the right of an accused to expand his defence further and produce further documents at the trial.

“It is against the provisions of equality under Article 8 of the Federal Constitution.

He also said the accused could be subjected to criminal consequences under Section 68 of the MACC Act for failing to comply with the Act’s provisions and be penalised under Section 69 of the MACC Act.

DPP Masri Mohd Daud said Section 62 of the MACC Act is not discriminatory and is procedural and a general provision.

“The Act does not stop the defence from making further submissions other than those which had been submitted,” said Masry.

“The arguments that Section 62 contradicts Article 5 of the Con-stitution is far-fetched! Article 5 refers to, among others, the rights to consult a lawyer and the rights to be informed of the grounds for an arrest.”

On June 30, last year, Lim was charged with obtaining gratification for himself and his wife Betty Chew by approving the conversion of two lots of agricultural land belonging to Magnificent Emblem into residential development while chairing a state Planning Committee meeting on July 18, 2014.

The offence under Section 23 of the Malaysian Anti-Corruption Commission Act, carries a jail term of up to 20 years and a fine of at least five times the value of gratification or RM10,000, whichever is higher.

He faces another charge under Section 165 of the Penal Code for using his position to obtain gratification by purchasing his bungalow in Pinhorn Road from Phang at RM2.8mil, below the market value of RM4.27mil, on July 28, 2015. The offence is punishable by a maximum of two years in jail or a fine, or both.

Phang, who is charged with abetment, faces up to two years in jail or a fine, or both.

Both Lim and Phang have pleaded not guilty. Their cases will be jointly heard between March and July.

Phang is respresented by Sithambaram, Hisyam Teh Poh Teik and A. Ruebankumar, while Lim by Gobind, Ramkarpal Singh Deo, R.S.N Rayer and Terence Naidu.

By Chong Kah Yuan The Star/Asia News Network

Related:

MALAYSIAN ANTI-CORRUPTION COMMISSION ACT 2009 - SPRM

www.sprm.gov.my/.../1059-malaysian-anti-corruption-commission-act-2009-act-694
The ACT 694 under the Law of Malaysia, which is also the Malaysian Anti-Corruption Commission Act 2009, received the Royal Assent, gazetted and enforced ...

Penang CM's trial: Court to hear motion anti-corruption act ...

 

Guan Eng and Phang claim trial, bail set at RM1m ... - Malaysiakini

 

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Tuesday 7 February 2017

South Korea can’t tackle new Trump Order alone, be prepared new Trump order !

Trump-tanic by Stephff | China Daily

South Korea, in particular, could take a leaf from Japan's playbook on preparing for a face-off and making the right structural reforms.


It’s official. A new world order, aka, the Trump Order, has been set in motion.

Most of us should have been ready for it, since the man had been more than clear about backtracking on America’s global trade policies. And now, in one flamboyant gesture, he has overturned his predecessor Barack Obama’s decision to join the TPP.

As one of the key members, Japan is up in arms. Prime Minister Shinzo Abe has vowed he would continue to try and persuade President Donald Trump.

At the same time, Tokyo appears to be quite ready to face the new threat.

Japan is a country that downplays the number of naval destroyers it has in order to keep its frenemies in check, and to assure them it still has a long way to go in terms of military defense. In reality, Tokyo is armed with seemingly worn-down subs that can actually be made battle-ready at a moment’s notice.

The Abe Shinzo administration has been ready to face off with Trump for a while now, and internal government sources say the foundations have already been laid. Prime Minister Shinzo Abe has already put in motion the necessary structural reforms to wean Japan off of the US or make Japanese firms more competitive in the face of high tariffs. Abe is also preparing to enlist the support of high-profile companies such as Softbank, which has been pledging more investment in America.

Further, Japan is looking to cut loose from China, which has made it clear it won’t play into US hands.

In contrast to Japan and China, South Korea has a smaller say. But that does not mean it has less on the line.

The country stands as the world’s 11th-largest economy in terms of GDP, but it also depends on exports for more than two-thirds of it. So any policy decisions by its chief trade partners are bound to have a profound impact -- even more so now that its internal economic affairs are in a mess due to the ongoing impeachment. South Korea truly cannot afford to have its global partnerships jeopardized.

During his presidential campaign, Trump has already called the US-Korea FTA a failed partnership that has robbed the US of 100,000 jobs. 

The Seoul government should have long been brainstorming a strategy to keep the deal on track, and must readily communicate its plans with the public before the concerns mushroom into something bigger.

The alliance with the US goes far beyond military issues, and the significance should not be downplayed or tainted in any way if Korea is to continue pursuing its national interests.

The strategy should be laid out in such a way to prevent Koreans from harboring unnecessary ill sentiment toward the US, and vice versa. For this, both governments will have to cooperate seamlessly. Trump must realize the contribution that Koreans and the Korean economy are making in the US.

That while it may not be comparable in size to other nations such as Japan and China, there is no going around the fact that in the end, cliche has it may sound, it is indeed a global economy.

Korean firms should take a cue from Softbank and find ways they can offer more support for the Korean economy as it faces the aftershocks of Trump’s latest policy move.

As for the US, it must remember that Korean companies like Hyundai, Samsung and LG have been seeking cheaper entry into the US for years via countries like Mexico and Vietnam.

The change of a regime must not pull the plug on these efforts for the sake of global partnership. And needless to say, the products and services brought into the US also help create livelihoods there, and give Americans what they need.

All of this should not be forgotten or put on a back burner. As already witnessed in the Lehman Brothers meltdown, the intricate web of global trade and finance ensures that the demise of a single company can affect so many more.

But, in a weird and twisted way, I do envy the American people. Sure, there could have been someone better than Trump, who psychologists have branded as narcissistic and delusional.

But for many Americans, Trump is doing what they have only dreamed of doing and saying. To say out loud, that they think America is the best, that they are scared of anyone appearing to infringe upon its beliefs and interests, even at the expense of other nations and peoples. To say that the US won’t play the peace-brokering leader who is constantly mindful of others, including rivals. To say, the US will start acting only for its benefit-regardless of how short-sighted this may be.

To have a president, as strange as he may be, who for now, appears so committed in his campaign, does draw an odd contrast with our embattled President Park Geun-hye who now seems anxious only to cover her own tail.

In some ways, they are similar in that they seem to prioritize themselves. But at least for now, Trump is giving many Americans the promise they need, as twisted or unorthodox his methods may be.

In a similar fashion, but based on a strategic and acceptable approach, Korea should be ready to protect its interests and its people amid the fast-changing global order. And all other players in the economy must be ready to lend a helping hand.

By Kim Ji-hyun 
Kim Ji-hyun is The Korea Herald’s Tokyo Correspondent. The views expressed here are entirely the writer’s own.



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Monday 6 February 2017

Penang has confirmed the illegal hill clearing cases reported by Penang Forum

Land clearing in Penang is rampant with Civil liberties group, Penang Forum (PF) revealing only 7.4 per cent of the state is categorised as forested land. NSTP pix

Location : Near Lintang Bukit Jambul 1 
Approximate Coordinates : 5°20'38.47"N,100°16'52.82"E
Report sent in August 2016. Photos taken in November 2016 and 2014. PHW Report 15 pix.


GEORGE TOWN: Penang has acknowledged that nine out of 29 hill clearing cases on the island, as reported by Penang Forum , were illegal.

Penang Forum representative Rexy Prakash Chacko said state Local Government Committee chairman Chow Kon Yeow and Penang Island City Council (MBPP) had a discussion with them last week.

This came about after the forum’s first Penang Hills Watch (PHW) report on hill clearing cases was submitted to the state on Jan 2.

“They investigated the report and concluded that only nine were illegal clearing activities while the rest were legally permitted land works (14) and natural slope failure (one). The other five cases are still being investigated by the relevant departments.

“The illegal clearing cases have been issued with stop work orders or are being followed up by court action,” he said on Saturday.

Chacko commended Penang’s concern and transparency in responding to the PHW report.

He urged for close monitoring on the nine illegal clearing cases and for mitigation action to be taken to rehabilitate the areas if necessary.

“For those with permits, the forum hopes that the clearing will strictly adhere to the state laws on land works and drainage.”

Chow, when met at Datuk Keramat assemblyman Jagdeep Singh Deo’s CNY open house in Taman Free School, said he had discussed with Penang Forum members about the report and answered their queries.

The public can view the PHW report as well as the response from the state government at the Penang Hills Watch Facebook page (@PenangHillsWatch) or the Penang Forum website, and see them interactively on a map at the Penang Hills Watch page.

PHW, a citizen-oriented initiative to provide a platform to monitor activities affecting the hills of Penang, was launched in October last year by Penang Forum, a loose coalition of non-political civil society groups often critical of the state government’s plans and policies. -  The Star

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Penang Forum launches Penang Hills Watch | Malaysia

Rainforest study centre on Penang Hill in the offing
Read more at http://www.thestar.com.my/news/nation/2017/02/06/illegal-hill-clearing-cases-confirmed-penang-forum-lauds-states-transparency-in-responding-to-phw-re/#OHTgXuXmFfxg8Wdk.99
Dec 26, 2016 ... Dr Lim has raised various concerns during his stint as a councillor and forum member on issues related to hill clearing, land reclamation, ...