7th October 2016

I am sure that many of you are told by bankers that they expect BNM to lower the Overnight Policy Rate which means most banks will also lower their Fixed Deposit Interest Rates. And because the banks expect BNM to lower the OPR in the near future, many are not even offering 12 months FD Promo. For examples:

  • Maybank is currently only offering a 4 Months FD Promo.
  • OCBC Bank is only offering up to 9 Months FD Promo.
  • HLB at their branches are offering the same interest rate of 3.85% for both 6 and 12 months. Usually we enjoy a higher interest rate for longer tenures.

Please click here to my Fixed Deposit Page to view more FD Promos

Well, if there is any change to the OPR, it will only happen on the coming BNM’s Monetary Policy Committee Meeting scheduled on 23rd November 2016. So for the kiasu people like you and me who thinks that FD interest rates will drop, we have now and until end of this month to lock in with RHB 4% 12 Months FD Interest Rate Promo.

Hong Leong Bank is also offering 4% 12 Months FD Promo but you have to transfer fresh fund from another bank via Financial Process Exchanges (FPX) which is facilitated by Malaysia Electronic Clearing Corporation (MyClear) owned by Bank Negara Malaysia. MyClear also handles Interbank GIRO, MyDebit, Direct Debitand JomPay.

For more info on FPX, GIRO, MyDebit and JomPay, click here to visit MyClear website.

So what are the advantages of FPX? Well, the funds are transferred IMMEDIATELY from one bank to another. That’s about it.

What are the disadvantages of FPX? In respect to playing Fixed Deposit Musical Chair where we transfer our funds around to lock in with the best interest rate available, there are many cons as far as I am concerned.

Firstly, you need to have an Online Account with the bank you which to deposit your money into AND also an Online Account with the bank you want to transfer out your money from. And in order to have an Online Account with any bank, we first need to open a Current Account or Saving Account (CASA) with them. So, if you are playing FD Musical Chair and want to transfer your funds via FPX, you will end up with many Savings and Online accounts. And if you have different Password for different Online Account, you will have trouble remembering all of them. I would recommend that you never ever write down your Online Account Username and Password just in case someone gets hold of them and you may have a headache. And if you store your Online Account Username and Password in your handphone, you are asking for trouble and will definitely be in deep shit because if someone gets hold of your mobile phone, the person now have access to the OTP (One Time Password) too.

Secondly, the maximum amount MyClear allows an Individual to transfer via FPX is only RM30K per transaction. This may not be necessary a con but damn troublesome if you have a couple thousand Ringgit to transfer.

Thirdly, the maximum amount you can transfer out from another bank with FPX is the amount mentioned above (i.e. RM30K) OR the withdrawal limit you have set for your Online Account – whichever is lower. How many of you set your internet banking account withdrawal limit to more than M10K?

Last but not least, most banks DO NOT allow Joint Fixed Deposit with Internet Online Banking, especially if the interest is to be credited into CASA (nowadays many banks’ FD Promos require that the interest must be credited into CASA).

With the above, Hong Leong Bank 4% 12 Months FD Promo is not suitable for me as I will only place my funds (more than RM50K) into Joint FD Accounts.

And to learn why I prefer to place my funds into Joint FD accounts plus the pros and cons of Statement Based FD versus Certificate Based FD, click the link here to my article titled The Secret To Eternal Happiness and scroll down to the relevant sub-topic.


6th October 2016

Yesterday I posted a short article showing you where where to send your child if he/she wants to pursue a Professional Degree so that he/she can work anywhere on earth and earn big bucks.

For the records, I have mentioned in my previous article titled Children Education Path that having a university degree does not guarantee success in life. What determines a person to be successful depends entirely on his/her own attitude.

Then again, what is success? In my previous articles in Ringgit Wise Fool, I mentioned that I know many filthy rich people who are unhappy; and they are unable to share their misery with others in order to save face (but they share with me because I am a good listener and they know they can trust me to keep their secrets). And so what if you got billions of Ringgit? Shiok Sendiri only as you go to the grave penniless anyway. But we do need money to survive and feed our children that’s for sure.

I was wondering what to write/post today. And I thought I touch on EPF and the average salary of graduates in Malaysia. And I was shocked with my findings….

Firstly, in my opinion, EPF is really good and the reasons are:

  • All full time workers in Malaysia are forced to save for their retirement.
  • Whatever money contributed into EPF plus Dividend declared are guaranteed. Unlike other retirement funds in the western world where the retirement fund of an individual can go up and down depending on the market situation. If the market crashes when one retires, the retirement fund may not be sufficient for him/her to survive until he/she dies. Then again, will our EPF which is guaranteed to increase yearly sufficient for our retirement years?
  • And best of all, the portion which employers contribute to EPF are TAX FREE!!! So if you own the company, you should make your company contribute more to your EPF. Or, for individuals earning big bucks, instead of asking for increment, ask the company to contribute more to your EPF 🙂

Here is the top average salary of Malaysians in 2014 (go google to see more and click here to see how much CEO and Directors earn monthly in different sectors):


From the above, after 5 years working and gaining the relevant experience, one would have attained the position of Senior Executive where the average monthly salary is about RM5.5K. By the time one has worked 10 years, he should be a Manager earning about RM10K and after 15 years (about 40 years old), he/she should be in Senior Management and earning more about RM15K.

You may be wondering why Doctors, Lawyers and Architects are not listed in the Top Paying Jobs at Senior Manager Level. You see, after working for 10 years, most doctors and lawyers would have set up their own firm/practice or become partners with the firm they are with. Some Engineers may set up their own firm/company (e.g. consultancy/construction/services) but many are salaryman simply because our country is developing and as such there are many projects on going which requires Engineers (and they get pretty good remunerations, please note above is average pay which means many get much higher).

For the purpose of this short article, I did do a quick calculation to determine how much one will have in their EPF in 30 years time based on the assumption that he/she gets 5% salary increment yearly and EPF declares dividend of 5%. Here’s the result I got (may be wrong as I just woke up and still blur but you will see the picture):

EPF 30 years 3 percent salary.jpg

Wow! If someone starting pay is RM3500/month and assuming he gets 5% increment yearly with EPF paying 5% dividend yield, after 30 years he/she will have RM1.25m in his/her EPF account. That is assuming he/she did not make a single withdrawal to pay for his/her home or children’s education. And it can be more if he/she invested the EPF money into approved investment funds (then again, can be lower too).

So, if your spouse has Professional qualifications (e.g. a Professional Degree or Passed Professional Papers), combining the  both of your EPF accounts. you guys would have RM2.5M in 30 years time.

Sounds good yeah. Here comes the bad news…..

Refer to 1st column in the table above where the monthly salary was increased by 5% yearly. What it means that if you are earning about RM15K per month in 30 years time, and assuming inflation also increase by 5% yearly, your RM15K salary is equivalent to today’s value of RM3,500!!! RM3.5K/RM15K = 0.23 or I can say your EPF of RM1.25M in 30 years will be equivalent to RM291,666 today!!!

FYI, the inflation rate in Malaysia lately was below 3%. But it can go up to 10% too. See table below where the inflation in Malaysia did touch 24%!!!


I can safely tell you that our inflation rate will rise once again together with oil price. The low petrol price we are enjoying now will not last. Even with the low price recently, a new Apple iPhone now cost RM4K+ versus RM2K+ few years ago. Yes, you are right to say that the price of a new Apple iPhone has increased because of our weak Ringgit. How sure are you that our Ringgit will not weaken further in the far future when our oil reserve runs out?

With respect to the above, what I am trying to tell you is – you better start saving for your retirement and your children’s education fund now and not delay it a single day.

5th October 2016

Buying a house is the biggest investment for most people. The second biggest “investment” for most people in their lifetime will be paying for their children’s education. Those of you who have no child to feed, you are lucky and get to enjoy your hard earn money on yourself.

If you have been a follower of mine, you will know that I have been bragging about my children being accepted into world’s top 50 universities ranked for Engineering, Medicine, Pharmacy and Accounting – click here to read My Bragging Rights. Yes, all I get from “investing” in my children’s education are bragging rights as I won’t get any monetary returns from them but it actually makes me poorer by the day!

In Malaysia we have so many universities nowadays and with PTPTN Education Loan, almost everyone can enter university. With PTPTN, parents do not need to “suffer” so much because they can past on part of their child’s education cost to the child where the child will need to repay the education loan.

Now, if your child is considering going to UK for a Law Degree, one would think that Singapore, a Commowealth nation, would recognized any Law Degree from UK. Well, Singapore only recognized Law Degree from 11 UK universities!!! See the list below:



So what’s above got to do with your child who does not intend to be admitted into Singapore Bar? Nothing as far as your child is concerned but it may affect you, This is what will happen – you are bragging to someone that your child graduated with a 1st Class Honours Law Degree from a UK university (not listed above) and then the other person tells you that you wasted lots of money on your child because your son’s degree is deemed useless by the Singapore government!!! You will lose face big time, hahaha.

Seriously, if you are going to burn lots of money on your child’s overseas education, especially Professional Degrees, make sure that the degree he/she is pursuing is recognized worldwide. Did you know that Australia Professional Bodies do not even recognize a single degree conferred by our local universities (maybe with the exception of a few degrees conferred by Monash University Malaysia). So if you are sending your child overseas, the safest bet is that your child enters a university ranked in the World’s Top 100 by subject so that he/she can work anywhere on earth. If your child degree is not recognized worldwide, then what’s the point of sending him/her overseas and burning your hard earn money in the first place? Might as while do it locally and save tons of money.

And if you want to know what universities are good, very easy, check out what universities are approved by the kiasu Singapore Professional Boards/Councils, hahahaha.

For the full list of universities where their Law Degrees are approved by the Ministry of Law Singapore – click here. I am surprised that Law Degrees from 4 USA universities are recognized.

For the full list of universities where their Engineering Degrees are approved by the Ministry of National Development Singapore – click here. Civil, Electrical and Mechanical Engineering Degrees from University of Malaya (UM) are recognized, that shows that at least UM Engineering Degrees are on par with other top universities worldwide.

For the full list of universities where their Medicine Degrees are approved by Singapore Medical Council – click here. It fantastic to know that two universities in Malaysia are approved, i.e. University of Malaya (UM) and University Kebangsaan Malaysia (UKM).

For the full list of universities where their Pharmacy Degrees are approved by Singapore Pharmacy Council – click here.  Only Pharmacy Degree from University Sains Malaysia (USM) is approved! Why UM Pharmacy Degree not recognized?

Now, from the above links, you can see for yourself that not a single Malaysia private university Engineering or Law or Medicine or Pharmacy degrees are approved by the Singapore Professional Boards/Councils! I was really surprised to learn this. Like I mentioned, some degrees from Monash Malaysia, may be recognized by Australia Professional Boards but Singapore don’t recognized them (or is it because the Degree is conferred by Monash University Australia where students do attend their convocation in Melbourne?). What even surprised me is that University Sains Malaysia Pharmacy degree is recognized by Singapore Pharmacy Council but not the one from University Malaya!!!

Now, for those of you who are sending your child to International Schools – if your child intends to pursue a Professional Degree from anywhere on earth,  he/she may not be able to register with the relevant Professional Board in Malaysia when he/she returns because he will need SPM BM!!! So, unless you got a business/company for him/her to take over and be the boss, most probably he/she will have to work overseas and earning big bucks (compared to Ringgit),  which in turn means that you will be lonely when you are old. Click here and read my article Children Education Path published at my old blog called Ringgit Wise Fool where I said it makes no difference what primary or secondary school your child goes to. More importantly is the attitude of the child.

Last but not least – like we Hokkien people say – “kia beh tak chair tau kak tia, kia a tak chair pun tau kak tia”. Translated it means, we get a headache when  our child cannot study but we also get a headache when our child can study, hahaha.


4th October 2016

  • Effective 1st October 2016, RHB Infinite Visa Infinite only allow 8X FREE access to airport lounges in Malaysia and Singapore. Good news is Supp Cards are also entitled to  the same privilege. Click here to my AIRPORT LOUNGE PAGE to see more credit cards that offer complimentary access to airport lounges at KLIA, KLIA2 and worldwide.
  • Want 4% interest rate with 12 months FD Promo? Better go to RHB quick because at the rate of 4% rate, in no time the campaign target will be reached before 31 October 2016. IF you come across any FD offering better then RHB, please let me know. For more FD Promos, please visit my FIXED DEPOSIT PAGE daily as I would be updating it the next few days.
  • Last month EPF increase the retirement target of their members to RM228K. RM228K does seems to be a lot of money but is it sufficient for retirement? Soon, I will show you that you are kidding yourself if you think it would be enough to last you until you are 100 years old.


3 October 2016

OMG!!! Google has banned my old blog generationsxyz.blogspot.com!!! But I am not surprise. You see, over the years I have inserted so many freaking html ad codes into my old blogs, so much so I don’t even know how to locate and disable/remove them even after I tried to do so a few times. I myself get pissed off when I get a pop-up window at my old Generation X Y Z and Ringgit Wise Fool blogs at blogspot!!! So, I guess for the security of others and for the better too, google did the right thing this time as compared to previously where they deleted my GenXGenYGenZ.blogspot because they claim it was generated by robots!!! FYI, genxgenygenz.blogspot.com is up and running again but it is not mine.

If you visit my old Generation X Y Z blog, you well get the warning below where it states that Google detected phishing and attackers will trick you into doing something dangerous.


Looks my Generations X Y Z blogspot is a goner, hahaha. And I have been warning you guys about phishing and my old blog ended up being one of the culprits too, hahaha.

If you are new to my blog, for your own good click here and read my article Credit Card Fraud and SMS Alert Default Value, don’t worry, it’s published here at GenX GenY GenZ Dotcom which have yet to be compromised  🙂

Maybe what I should do is go copy some of the old articles from Generations XYZ and Ringgit Wise Fool and reproduce them here at GenX GenY GenZ Dotcom for the benefit of those new to my blog. What you think? Please comment here at my facebook post.

Luckily my Money For Luxury blogspot is still pretty “clean” as I did not insert many ad codes into it.


1 & 2 October 2016 (A short article/tutorial for you weekend leisure reading).

QUIZ – which is lower? 8.18% Personal Loan Fixed Interest Rate OR 15% Credit Card Reducing Balance Interest Rate?

According to RHB website, they are the same!!!

However, according to CIMB website, 8.20% Fixed Rate Personal Loan is equivalent to 14.50%


For Personal Loan Fixed Rate – you are imposed interest immediately upon signing on the dotted line. i.e. You become poorer as you now owe the bank the Principal Sum + Interest. And the longer the tenure, the poorer you are. And you DO NOT save on interest charges if you make or settle any part of the debt in advance.

For Reducing Balance Loan, interest is imposed only on the outstanding amount. So, the sooner you pay up your debt, the less interest charges you incur.

I have been reminding you guys to avoid Personal Loan. Well, I did go check out some Personal Loans Interest Rates and I was shocked to find that it can go as high as 14.66% Fixed Rate with CIMB which is equivalent to 24% Effective Interest Rate!!! And what shocked me further is that some banks are offering Personal Loans to Pensioners (retired civil servants)!!!

If you have been paying your credit card bills promptly, you would be imposed Reducing Balance Interest Rate of 15% which is similar to Personal Loan with approximately 8.5% Fixed Rate for 5 years tenure according to a calculator by MoneyCamel dotcom.


So, from the above, you can observe that Fixed Rate Interest Rate is approximately 1.7X higher than Effective/Reducing Balance Interest Rate. Or round it up to a single digit, it’s 2X.

Most civil servant have Personal Loans and the reason is our government encourages it!!! Bank Rakyat, MBSB and RHB (all 3 are government or EPF controlled) promote Personal Loans to those employed by the government where the loan repayments are automatically deducted from their salary. For example, RHB offers 4.5% Fixed Rate Personal Loan to civil servants and charges an additional 2% (PLUS 6% GST, too) as collection fee on the monthly collection. Wow! With 6% GST imposed on the 2% Collection Fee, the government is taxing the poor civil servants who are already in debt by making them even poorer! Once again, 4.5% Fixed Rate is approximately 8.41% Effective Interest Rate (please refer to Notes in RHB’s table below).


Yesterday I read an article that household savings of public servants is 0.7% of their salary. My God that’s like no savings at all. With civil servants having easy access to Personal Loans, making them poorer, it’s a no brainer that they don’t have savings as most of their salary goes straight to repaying their Personal Loans! I tell you, if the government really wants to help the civil servants, they should put a stop to Personal Loans and instead encourage Housing Loans where at the end of the day the civil servant will own a home. Now, most of the civil servants do not really need to worry about saving for their retirement unlike most of us because when they retire, they still have access to very affordable (if not free) medical treatment and pensions where the government will give them money (amount based on a certain percentage of their last salary) until the day they die (which in turn the money would be given to the spouse). But what these civil servants must realize is that our lifespan is increasing. If one was to live until 100 years old and taking inflation into consideration (and without considering that Ringgit may weaken further in the future), the pension amount would be insufficient in the future.

There are 1.6 million civil servants who make up about 11% of the total work force in Malaysia. Guess how many retirees the government is paying pension to today? FYI, it is about 700,000!!! Therefore, the government is paying out money to 2,300,000 people monthly (that’s close to 10% of Malaysia’s population)!!! Let’s say each of them is paid RM1.2K (the minimum wage for civil servants), that means our government is paying out RM2,760,000,000 per month or RM33.126B a year. If you increase the average to RM2K per month per person, that’s equal to RM66B a year!!! According to Bloomberg, our government spends about 1/3 of our annual budget on salaries, pensions and gratuities. Therefore, with RM267.2B allocated for expenditure in the 2016 Budget, the total amount we pay to past and present civil government servants amount to RM89B!!! With the low oil price, our government has basically lost its main source of income and it’s a miracle that our government has money stashed somewhere to pay all the civil servants and pensioners monthly….. oh maybe it’s not a miracle but we have a visionary PM who saved the country from the brink of destruction by implementing the 6% GST. Click here to read article titled “PM called GST country’s saviour”.

Yes, if GST was not implemented, there would have been a very good chance that civil servants won’t be paid and the entire country will go into chaos because the police, army, teachers, government medical/clinic/hospital staff, etc will all go on strike and we the Rakyat will suffer. The civil servants also will not be able to repay their Personal Loans which will then result in Financial institutions like Bank Rakyat, RHB and MBSB going kaput (we the hard working Rakyat will also be at the losing end as EPF is the major shareholder of MBSB and RHB). One thing will lead to another and eventually our economy will be destroyed. I tell you, we are so lucky to have a visionary brave warrior PM and a wife who supports him. However, based on the current situation and at the rate we are paying the civil servants and pensioners, sooner or later the country will go bankrupt….. but Malaysia is one lucky country and eventually oil price will have to rise and we will all be saved…. and if oil price does not increase, well, we have to then depend once again on our PM (who is brave enough to go against the Rakyat’s wishes) to increase GST to 10% and once again be the saviour of our country. Conclusion – the government sooner or later will need to downsize the civil service sector plus stop the pension scheme as there’s no way our country can continue with the current situation unless all of us are willing to accept GST of 15%.

Coming back to how to get poorer the fastest way –

If you did not know, Car Hire Purchase Interest Rate Loan is exactly the same as Personal Loan Fixed Rate. To save on interest charges, it’s better to opt for a quicker loan repayment period, e.g. 3 years versus 9 years.

For example, if you were to borrow RM50K at 4.5% for a Myvi:

The amount of interest you would have paid for 3 years loan = RM50K x 4.5% x 3 years = RM6,750


The amount of interest you would have paid for 9 years loan = RM50K x 4.5% x 9 years = RM20,250

Difference = RM20,250 – RM6,750 = RM13,500. If one was to invest this savings instead of handing it over to the bank and making the bank richer, come the end of the 9th year, one would have much more than RM13.5K cash in hand.

Or looking from another angle, you would have paid interest of RM20,250 plus the Principal Amount of RM50,000 = RM70,250. In 9 years time, how much do you think your top of the range Myvi would be worth? It’s junk!!! You would have burned RM70K for nothing (and I did not even include the down payment/balance cash paid for the car). The smarter option is to get an Axia that cost RM20K cheaper than a Myvi and opt for 3 years tenure and save more than RM30K in the process. And if you invested this saved money of RM30K into an investment that pays 5% interest, in twenty years time, it will grow to more than RM60K. That’s RM60K extra money for your retirement years to go pamper your grandchildren.

Those who opt for 9 years car loans are those who don’t have money and by opting for a longer loan period, they are actually getting poorer. That’s why I cannot comprehend how BNM can allow 9 years loan tenure for cars. I tell you, the government should put a stop to 9 year car loan tenures and impose even higher taxes on cars as there are just too many damn cars on the road today. Credit should be given to the Selangor government for launching FREE bus service.

Last but not least, if you have debt issues, especially credit card Outstanding Balance, the best people to talk to is AKPK. Do not borrow more money utilizing Personal Loans AND never entertain people who call you on your handphone offering debt restructuring as you can’t verify if it’s a con job. Even it it is not a con job, people who call you offering assistance on your credit card debts are just basically offering you Personal Loans which also makes you poorer instantly.


30 September 2016

Last weekend I showed that apartment prices in several Sydney suburbs have fallen where one even experienced 24.7% drop.  To read previous Quickies/News Flash/Really Short Posts, click here.

Well, couple days ago in a Bloomberg report, Sydney was ranked fourth in a property bubble. Other cities classified as being the the property bubble risk are Vancouver, London Stockholm, Munich and Hong Kong. Below is a chart extracted from the Bloomberg report.


The Bloomberg report also quoted that UBS mentioned that buying a 60 Square meter apartment in most global major cities is out of the reach of highly skilled individuals.

With respect to the above paragraph, it also applies to skilled workers (low middle income/fresh graduates) in Malaysia where many cannot afford  to purchase an apartment in Klang Valley or Penang Island. But that’s not the case for the lower income group where they can purchase low cost apartment costing not more than RM100K, that is if one is lucky to secure a unit.


29 September 2016

The subject at hand today is about life and death matter and the future generation.

Did you know that Selangor has to highest cases of dengue, to be exact 42,636 cases reported between 3 January 2016 and 27 September 2016 with 126 deaths!!! But what has the Menteri Besar of Selangor done to eradicate the Aedes Mosqitoes? Nothing much as far as I am concerned because he’s too busy with Federal Politics! And the sad part is none of the other leaders from all the major parties are leading the fight against Aedes Mosquitoes as all of them are busy stabbing each other to remain in power.

I tell you, if the present Selangor government do not step up and eradicate Aedes Mosquitoes, the potential for Zika to spread like wild fire is freaking high and may even result in a  lost generation. And once Zika is out of control, the entire state of Selangor should be quarantined, and I would support that our PM use the recent approved National Security Bill where no one enter or exit Selangor (which means no in and out of KL too)!!!


If I was the Menteri Besar of Selangor, I would declare war against Aedes Mosquitoes and mobilized all state and local council officers to go search and kill all Aedes Mosquitoes and make Selangor free of Dengue and make the potential treat of Zika a non issue.

For your own good, I recommend that you go purchase Aedes Mosquitoe Killers and place them everywhere in your home. No point using repellents. For my case, I have found the Khind Insect Killer to be very effective. Ever since I started using the Khind Insect  Killer IK506 beside my computer table, I have not gotten a single mosquito bite when I am online using my PC. It is cheap for the price you pay considering that it may save your life and I would recommend that you buy a few and place them everywhere in your home to protect yourself and your loved ones. Visit http://www.khind.com.my or click here for more info on where to buy them near to your home.



28 September 2016

Scams Scams Scams everywhere on the internet.

I am sure many of you have read that Yahoo was hacked and more than half a billion email accounts info were stolen. Well, that’s how the really freaking good professional programmers do it, where they are able to penetrate security measures to steal info. The other method is a con job where we ourselves give the scammers our details!!! For example, you receive an email asking you to click on a link to update your email account. And a scam can be a combination of both these said methods, where the first step is to hack into someone’s system to steal emails info and the next step is sending out emails tricking the recipient to click on a link (so that their devices are infected or to steal info).

Last week I received a personal email from a person (a property management agent in Australia) asking  me to click on a link to update my account details with his company. But I knew the email was fake as I do not have any account with his company. Within half an hour, I got another email from the same person warning that his email account was compromised and that I should delete the earlier email and if anyone did click on the earlier link and updated their account to immediately change their password.

Recently, I received another email claiming to be from Microsoft telling me that my Outlook email account has been suspended. This is not the first time and won’t be the last either. The previous fake email claiming to be from Microsoft had tons of mistakes that tells me outright it is a fake, but that’s not really important, hahaha. Anyway, below is the latest scam I received (which also has lots of mistakes, hahaha):


Yesterday in The Star Online, it was reported that there is a WhatsApp scam circulating where people are asked to upgrade to WhatsApp Gold. And if someone did believe that the invitation was genuine and followed the instructions to install the “WhatsApp Gold” App, his /her device will then be infected will a malware. Click here to The Star Online article for more info.

In respect to the above, if you want to download any Apps, do it via Apple Store or Google Play only and not by clicking on any link provided via emails or other types of online messages.

Once again, never click on any email links. If you need to update any details in your accounts, go to the address bar and key in the web address yourself (or the link that you are certain is genuine where you have bookmarked it earlier).

If you have not read my article titled Credit Card Fraud & SMS Alert Default Value, please click here and read it for your own good and share it with others too.

Last but not least, we are more easily conned by people we trust. For example, sometime during end of March 2016, many people were conned by me when I “announced” that AEON is launching their first Platinum credit card in Malaysia, i.e. AEON GenX GenY GenZ co-brand Platinum credit card. If you are new to my blog and freaking free, click here to enter into my sick imagination to read my April Fools Joke titled AEON Kredit GenX GenY GenZ Platinum Credit Card – The Soon To Be No.1 Best Credit Card in Malaysia. Please take note of the warning in my Public Service Announcement in this said article – someone tried to scam me by sending me a fake email claiming to be from Pay Pal stating that my PayPal Account was compromised .

27 September 2016

For those of you who do not have American Express Platinum or AMEX Reserve to enjoy discount at Shangri-La Hotel F&B outlets but has a Citibank PremierMiles or CitiGold Debit Card, good news Until May 2017, you can get 45% discount at Shangri-La restaurants on Wednesday and Thursday with your Citibank PremierMiles and Citibank Gold Debit Card.

As for Citi Prestige cardholders, my advise to you is go get the FREE FOR LIFE (1st year FREE and subsequent years with minimum RM80K spending) Maybank 2 Cards Premier AMEX Reserve and earn yourself FREE Business Class tickets way faster than your “useless” Citi Prestige, hahaha.

FYI, I no longer hold any Citibank Malaysia credit cards because most, if not all of them, do not come with some kind of FREE annual fee waiver mechanism; as such, you got to beg for annual fee waiver. However, I do have the CitiGold Debit Card and Citibank Platinum Reward Visa Credit Card that are truly FREE but it’s from Citibank Australia, hahaha.


For more Credit Card Promotions compiled by yours truly, please click here.


24 & 25 September 2016 (for weekends I’m planning to produce a short article for your leisure reading).

Today, in The Star newspaper, there are no less than 3 agents promoting properties in Australia. Most of the time, to entice you to buy the promoted properties, it is advertised that you will get no less than 5% rental yield.

Many years ago I published an article in my old blog called Generations X Y Z where I highlighted that if you are taking a loan to purchase an apartment in Australia, 100% of the time, your effective yield will be negative.

Even if you pay cash for your apartment in Australia, you’ll be lucky if you can get 1% effective yield.

Assuming you do get 5% rental income from your apartment in Australia.

Do you know that you are taxed 32.5% even if you just earn AUD1 (click here to ATO website and see it for yourself). And yes, you need to declare your rental income yearly to Australia Tax Office and pay taxes (click here to ATO website for more info)!!! And if you are losing money from your investment, it’s best to still report it to ATO yearly so that your accountant can deduct them when working out the Capital Gain Tax you need to pay when you dispose of your property.

Firstly, you have to pay the agent, where the initial fee may be up to 1 month’s rental and then subsequent months up to 10% of the rent. Thus, the rental yield reduces by approximately 1% to 4%

Wait, there’s more…. you have to pay Body Corporate Fees, Local Council Tax, Water Tax, which will add up to more than 20% (more like 25%) of your rental income; thus reducing your rental yield further. And if your unit needs repair/maintenance works, which can be damn expensive and troublesome, your yield will be near to ZERO or into the negative zone.

Assuming that after deducting the above expenses, you still have net positive income, you’ll then be taxed 32.5% by the government of Australia!!!

Generally, rental rates have dropped throughout all major cities in Australia except for Canberra and Sydney. As for Melbourne, apartment rental rates have been stagnant for years as there are just too many vacant apartments. Below is a table from Domain dotcom dotau published in  June 2016.


If you are seriously thinking of investing in an apartment in Australia to earn some pocket money, click here and read an article on what Mr. Harry Triguboff, the biggest apartment builder and 3rd richest man in Australia, said about the apartment market right now at this moment.

And recently, The Daily Telegraph reported that in Rushcutter Bay, an inner Sydney suburb which is minutes from Sydney CBD, apartments there experienced up to 24.7% price drop!!!  Click here for the link, but you may not be able to read it unless to do a google search your self with the key words – “Sydney Rushcutter Bay property price drop”.

But you know me lah, when I provide you info it’s never hanging or incomplete, so here’s the article from The Daily Telegraph published on 9th September 2016:


However, there are pros and long term advantages in investing in Australia and just like anywhere on earth, landed properties are the best. As for apartments, just like Mr. Harry Triguboff said, many mainland Chinese are failing to settle their off-the-plan units (new units bought directly from developers), which means their 10% deposit is forfeited. This is where you can find some good bargains as the developer will then sell the unit to you at a price lower than when it was launched! This has been happening for the last  2 years in Melbourne where we can get 100% competed units from developers at a discounted price.

FYI, if you are not a resident of Australia, you cannot buy a second hand unit. But if you have Australia residency, it’ll be stupid to buy a new apartment when an existing apartment in a good locality is selling for less (in terms of AUD/ft2) compared to a new unit in a “not so good” area.

Coming back to agents promoting properties in Australia here in KL. I cannot comprehend why a person who has never been to Australia would splash no less than RM1M for a freaking small apartment in Australia without knowing the surroundings and what’s in the neighborhood. Seriously, if you want to invest in an apartment in Melbourne for example, take a flight there lah, a return ticket cost less than RM2K which is like peanuts compared to what you would be paying for the apartment. If I’m in Melbourne, you can even hire me as your tour guide, hahaha.

If you really are interested in buying properties in Australia, first thing to do is go to Domain.com.au and RealEstate.com.au where there are tons of new and completed units being advertised. If a property interests you, fly to Australia and buy it from the developer there and you’ll be surprised how easy it is as they can courier all the documents to you.

If you ask me whether it is a good idea to purchase a property in Australia? I would definitely say yes, that is if you still have cash reserve to survive until 100 years old and for wealth preservation purposes.

There is much more that I have to share with you….. If you are thinking of purchasing/investing in Australia or even migrating there for whatever reasons, the best thing to do is buy me a good lunch and I will share with you many horror stories so that you’ll be prepared and not get a heart attack, hahaha.