By maliki on October 15, 2008
In these days of economic situation not so well, everybody trying to change their lifesyle to spending more smartly. Here I found a nice article from Connie Matthiessen on how to slash your family’s spending. Eventhough this article is written a couple year back, it still can apply now. Have a nice reading & smart spending!
9 ways to slash your family’s spending.
1) Look for hidden waste.
Cell-phone Plan
Can you find a cheaper cell-phone plan, long-distance phone service, or Internet service provider? Is it time to refinance your mortgage or car payments? Can you raise your insurance deductibles, which lowers your premiums? What about canceling your long distance and purchasing budget phone cards — or using a cell phone (with free long distance included) in off-peak hours? Are you getting your money’s worth from your gym membership, or could you walk, jog, or play basketball in the park instead? You may want to consider becoming a one-car family — you’ll save on gas, insurance, and car maintenance. And ask your utililty company how you can lower your payments. Even simple changes, like turning down the temperature on your water heater or installing energy-saving showerheads, can bring your monthly bills down.
2) Watch those credit cards.
If credit card charges are eating up a big chunk of your monthly budget, look into consolidating your balances or getting a lower interest rate. Examine your credit card statements: Are there automatic charges — subscriptions or monthly fees — that could be canceled? (Get more tips on easy ways to lower your credit card debt.) Continue reading →
Posted in Financial Tips | Tagged Budget, family spending, save
By maliki on October 11, 2008
Singapore has become the first Asian economy to fall into recession, analysts said yesterday, after the government revised downward its full-year growth estimate and eased monetary policy for the first time in years.
The Ministry of Trade and Industry lowered the city-state’s full-year growth forecast to around three per cent, citing a slowdown in the global economy and key domestic sectors.
The move came as the ministry released preliminary data showing that real gross domestic product (GDP) declined by 6.3 per cent in the third quarter after contracting 5.7 per cent in the previous quarter, the ministry said.
While it did not describe the economy as being in recession, a technical recession is generally defined as two consecutive quarters of contraction in economic output.
“Singapore will be the first Asia economy to fall into a technical recession,” DBS Group Research said in an assessment of the data.
In a move to confront the downturn, the Monetary Authority of Singapore (MAS) – its de facto central bank – said it was easing monetary policy for the first time in more than four years.
Singapore is Southeast Asia’s wealthiest economy in terms of GDP per capita but is heavily dependent on trade. This makes it sensitive to hiccups in developed economies, particularly key export markets the US and Europe.
Economists polled by Dow Jones Newswires had forecast a 0.3 per cent quarter-on-quarter rise in GDP, the value of goods and services produced in the economy.
Compared with the third quarter of last year, the ministry said Singapore’s economy contracted by 0.5 per cent in real terms, against 0.8 per cent expansion foreseen in the Dow Jones poll.
In August the government had revised down its full-year GDP growth forecast to 4-5 per cent but since then, external economic conditions have deteriorated more than expected, the trade ministry said. – AFP
Posted in General | Tagged recession
By maliki on June 27, 2008
KUALA LUMPUR (Reuters) – Malaysia shelved some large building projects on Thursday and pledged to spend $9 billion more to boost rice production and ease poverty, as the government sought to quell growing public anger over rising prices.
High food and fuel prices have rankled Malaysians, threatening to unleash street protests that could break Prime Minister Abdullah Ahmad Badawi’s increasingly brittle administration.
In a mid-term review of a state development blueprint, the government stuck to its average annual economic growth target of 6 percent for 2006-2010, saying domestic spending would offset the effects of weak global demand.
Continue reading →
Posted in Malaysian | Tagged Malaysia, Oil price increase, Subsidy
By maliki on April 23, 2008
THE cost factor was the main reason Malaysian government decided not to go ahead with the high-speed bullet train link between Kuala Lumpur and Singapore proposed by YTL Corp Bhd.
“The letters on the decision were sent to parties such as YTL and the relevant agencies in early April,” said Economic Planning Unit (EPU) director-general, Datuk Seri Dr Sulaiman Mahbob, said yesterday.
He said the government would have to bear a significant cost based on the financial model that was submitted by YTL.
“Based on the financial model submitted by YTL, the government has decided not to go ahead with the bullet train (project),” he said, without elaborating on the amount the government has to bear.
YTL has proposed the RM8 billion project which would take 90 minutes to travel between the two capitals from about seven-and-a-half hours now.
It was earlier reported that the government has allowed YTL to do a feasibility study and it (YTL) came back to say the project was feasible.
The plan for a high-speed train between the two cities, spanning about 300km, was proposed in late 1990s, but garnered strong interest last year after the government invited companies to come up with ideas for privately-funded projects. — Bernama
Posted in General | Tagged malaysian bullet train
By maliki on November 29, 2007
News from Bernama.
KUALA LUMPUR, Nov 28 — The Cabinet has agreed not to raise the toll charges at four main highways, including the North-South Expressway and the Penang Bridge, next year, Works Minister Datuk Seri S. Samy Vellu announced today.
He said the decision was reached at the Cabinet weekly meeting today, which would result in the government paying RM242 million in compensation to four concessionaires.
They are Prolintas for the Ampang-Hulu Klang Elevated Highway, Projek Lebuhraya Utara Selatan (PLUS) Bhd for the North-South Expressway, Skim Penyuraian Trafik KL Barat (Sprint) for the Kerinchi and Damansara Links, and Penang Bridge Sdn Bhd.
However, the toll charges for six other highways/expressways would be raised in accordance with the concession agreements, Samy Vellu said.
The highways/expressways are the Seremban-Port Dickson, North-South Expressway Central Link, Kulim-Butterworth, Malaysia-Singapore Second Link, North Klang Valley, Johor Causeway and Bukit Kayu Hitam.
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Posted in Malaysian
By maliki on October 31, 2007
In times of volatile market movements, it is a challenge for some investors to keep their emotions in check. When markets are in a strong rally, our herd instinct compels us to join the crowd and ride with the upside. But when markets correct, we are prone to sell out in panic. Yet, the wisest thing for investors to do at such times may be to remain calm and maintain a focused approach for their investments. Keeping an investment portfolio that is invested across different asset classes is a sound and effective strategy to ride through periods of adverse market movements.
Stock markets are volatile by nature and as illustrated in recent weeks, extended periods of rising share prices can often be interrupted by sudden bouts of consolidation. In such times, investors with moderate risk profiles should consider holding a balanced fund which is invested in both equities and bonds in near equal proportions. Balanced funds aim to provide income and capital growth over the medium to long term period by adopting a balanced asset allocation approach – 40% to 60% of the fund’s Net Asset Value (NAV) is invested in equities while the balance is invested in debt securities and liquid assets. In comparison, equity funds generally have asset allocations of 85% or more in equities and the balance in fixed income securities and liquid assets.
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Posted in Unit Trust / Mutual Fund
By maliki on September 8, 2007
Abdullah Unveils A Generous Budget For All
KUALA LUMPUR, Sept 7 (Bernama) — A Budget for all. That sums up the 2008 Budget unveiled by Prime Minister Datuk Seri Abdullah Ahmad Badawi today, which offers goodies to all segments of the Malaysian population, from kindergarten kids, civil servants and businessmen to senior citizens.
Totalling RM176.9 billion, the generous budget, an increase of 10.9 per cent from this year’s, emphasises three main strategies — enhancing the nation’s competitiveness, strengthening human capital development and ensuring the well-being of all Malaysians.
Coming on the heels of the nation’s 50th birthday just a week ago, the budget is aimed at countering the increasing cost of living through measures to raise the people’s disposable income.
“As we enter the next 50 years, it is important that we leverage on the strength of our diversity and remain united in our quest towards achieving developed nation status,” Abdullah, who is also Finance Minister, said when tabling the 2008 Budget in the Dewan Rakyat here.
Continue reading →
Posted in Malaysian