On a news report dated back in July 8th, the Malaysian Bank Negara has imposed measures on household lending, including limits to loan tenures, which economists said will reign in “excessive” consumer borrowing and curb property speculation. My question will then be, how effective and depth is this measure? You are able to curb speculations but what is affecting the majority population is the daily expenses. This brings me to the question “What is your credit card balance brought forward this month and what is the minimum charges that you are required to pay?
Bank Negara Malaysia said it will now only allow personal loans of up to 10 years while financing for both residential and non-residential properties will have a maximum payback term of 35 years. Previously, consumers were allowed to apply for personal and property loans of up to 25 years and 45 years respectively.
Bank Negara also announced a ban on “pre-approved personal financing products” — unsolicited loan and credit card offers with immediate effect.
The setback for this is that although a longer loan term may reduce monthly repayments, it encourages “excessive debt accumulation” and saddles consumers with heavier overall debt burden. Example of this can be seen through credit card repayment plan. At a rate of 17% per annum for charges (some banks may use the term finance charges), a RM10,000 outstanding takes 7 years and 6 months at a start of RM500 minimum repayment. Just imagine you’re paying a 17% X 7 years on top of your outstanding balance! That’s insane and double insane when Bank Negara wants to prolong the repayments!! Just imagine having to pay 17% X 10 years…just ridiculous.
Malaysian household debt has expanded rapidly over the last 5 years, increasing by 12% a year. This is very alarming because our pay increment averages at 5%. Just imagine in 5 years time, we’ll be a debt burden consumers with banks coming after us for repayments and if not with ‘re-finance’packages.
How do we balance this out? For consumers, pay up as much as you can to reduce the interest charges. May it be a credit card balance or any loans. Banks will love to stretch your debit for a longer repayment period, don’t fall to that trap. Always remember to dump in any amount to off-set your debts. And of course, the other way is for Bank Negara to raise the FD rates to a pathetic 3% per annum. That’s why consumers are willing to take a high risk in investing into gold and other commodities with a higher Return of Investment. Not until Genneva Directors were charged under Section 4 of the Anti Money Laundering Act and involving 35,000 investors and 10 billion worth of investments.
So, Bank Negara. Please play your part as well to help poor consumers like us…
If you’re looking at Penang cars for sale, don’t look further as here’s a user friendly website that gets right to the bottom of your motor needs with just 2 clicks away. With its simple yet informative front page, it’ll directly bring potential car buyer such as yourself straight to links like Audi, BMW and Mercedes-Benz. There are pictures of the car, selling price and year it was made. How much are these cars you might ask yourself? Get the actual market price in just 2 clicks away.
Besides having Malaysia’s largest car website with over 73,000 new and used cars for sale, it is also a place where you can get a fast fact on the care you’re searching for at Car Comments. All cars are posted online across Malaysia. This includes Kuala Lumpur, Petaling Jaya, Selangor, Penang, Johor, Sabah, and Sarawak.
I was looking at a Mercedes C200 AMG unregistered year 2008 going for RM157K. Wow, that’s a good bargain for a continential car. There are many more such makes and models for you to comfortably explore and decide. It’ll also tell you how many potential buyers have viewed the car and if you decide to navigate to same category, Carsifu has a side left panel with summary of same maker by models and number of car available under Refine Cars section.
All you have to do now is to check on your over draft once you have made up your mind. How much is the monthly installment you were asking? don’t worry as there is a Hire Purchase Calculator on the left side of the page. Everythng has been carefully thought and the layout is simple and easy to view and use. In fact, it’s so easy and user friendly, it’ll just take you 2 clicks away from spending again.
Oh yes, before I forget, here’s the picture of Culture Dance on board. Although in comparison the one at Culture Village is far more better quality, this is as good as you are able to take a picture with them up close. Well, that’s the beauty of it. Having said that, on our second day, we managed to rent a car and moved around Kuching. You can get an Alza for RM200-220. The one I got was RM200 after negotiation.
On the way to Santubong, we stop by Buntal for a delicious seafood lunch. We had Paku-Paku vegetable (only available in Sarawak) and its delicious. A must order include the sea cucumber soup, fried oysters (in pizza form) and crabs. That was after our morning session Cultural Show. There are 2 daily shows, one at 11am and the other at 4pm. The drive from Cultural Village to Buntal is about 15 minutes.
The first long house towards the right side belongs to Bidayuh tribe. This is then followed by Iban (that makes the majority of the local tribe). Penan, Kelabit, Rumah Melayu and Rumah Cina follows in sequence after that. I can’t tell which tribe by their traditiona outfit. Can anyone? I thought that the Cultural Show this time around was more entertaining and engaging compared to my previous visits. Not only do they have the baloon blow pipe session by the tribesmen but they also invite spectators to the stage to try out. Girls and boys, you have been warned.
Half a day is sufficient to cover the whole of the Cultural Village. Ticket prices as of today is RM60/adult and RM30/kids 6 years old and above. It’s pricey and therefore, you should not miss the Cultural Show that last for 45 minutes. Well, after a long drive to and bacl Santubong, it’s time to chillax at the Pullman hotel and prepare for our next dinner attack.
A must have on your dinner table at Top Spot includes baked lobsters (RM100/kg), fried oysters (very large crunchy ones) and Paku Paku. Not forgetting Ikan Bakar (or grilled fish). Coconut water was also a must that goes for RM3/-. The owner has up the ante by offering fusion of coconut water with longan at the same price. We were lucky as by the time we finished our meal, it poured down heavily and pity the diners next to us, they had to leave before finishing their meal. What a bummer but that’s life.
Well, I think this is the longest blog I have written in a long time. Sayonara for now and see you again real soon. Cheerio and happy holidays.
Yes, this is our 3rd time in Kuching and we don’t seem to get bored with the city. Although it was a 3D2N trip but we managed to visit quite a handful of places. Our first stop after check-in was the popular Tua Pek Kong Temple. Then off to Carpenter Street for a delicious bowl of kono-mee. Although the weather was hot and sunny, we decided to walk along the corridors of shop houses and Pos Office before ended up at the Sarawak museum. It’s still as grand as before with the 2 buildings well maintained. The first building was housing modern art by final MARA students while the second building was the main attraction. It houses and displays well preserved birds, moths, sea shells, snakes, rangatans and animals found in Sarawak. Not mentioning 2 well preserved whale skeletons (for many years I thought it was a dinosaur bones and now I could answer WH’s question was there dinosaurs found in Sarawak?).
After spending an hour enjoying the artifacts display in the museum (they also have a section of a Long House on the 1st floor), we then make our way to Kuching’s Bazaar. It’s just by the riverside and you can get good souvenirs for relatives and friends. On my itenary next was the Sarawak River Crew which starts at 5.30pm. Although it was still early (2.30pm), I went to query on the tickets. To my surprise, the ticket counter girl was saying that if you purchase tickets before 3pm, I’m entitled to a 10% discount. Woohoo…I’ve managed to save some $$$ from this. If I’m not mistaken, the price per adult is RM45/- and kids RM22.50. Besides free flow of orange juice (concentrated) and kuih lapis, the River Cruise also has a Culture Dance performance on board. The cruise lasts for about an hour and half.
Our 1st Chinese Cycle Anniversary…
My best picture so far taken using Samsung Galaxy 2 is probably in Bali while vacationing. Simple to snap yet elegant and majestic when it comes to the end results. Don’t believe me? Here you go:
Homemade birthday cakes moled to their favourite toys (ie. Lego bricks and Barbie). I must say that they are so lucky to not only have a loving and caring mum but also an arty-marty-knows-all mum.
Nope, its not a mountain. Located parallel to Tanjung Tokong (after Gurney Drive), Mt.Eskrine is on a hill. Other than housing cemetary, one can find good food along Mt.Eskrine. Tucked along the main road, you can find a good Hainanese Western food shop that serves good chops (ie. chicken, steak, fish & chips, pork…etc.). Price is reasonable between RM8-RM20. Business starts at 6pm and if you’re late, you’ll probably ended up standing for a place to sit. Some pics for your indulgence:
Following by the previous post on xbmc, this great app has a whole lot more function to explore. I read that it can be connected to Astro, but I have yet to figure out how. And there’s a also a comprehensive karaoke library. More reason for me to look for a higher quality microphone as the kids love karaoke session. Some sites online offering affordable deals which you can definitely save on dynamic microphones by getting it online.
XBMC is the one app that you need for all your movies requirement. Download the apps to your computer and follow the tutorial on You Tube on how to configurate to receive movies and more from the net. Click on the XBMC picture below to view tutorial. Good luck and good hunting.