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Category: Financial News

coins in a jar
ABCs of Personal Finance

Financial News: Household Income Classification – B1 to T2. What’s the actual number?

I have friends who are no longer working and is way below the typical retirement age. One just came back from Pakistan and few weeks later went to Laos and few weeks from today will be going to another city in China. Another flew overseas and attend cooking classes. Another friend who is within the stsrting point of M40 classification below bought he third property a few years ago.

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Financial News

Financial news: IHH Healthcare’s RM1.5 billion profit and KPJ Healthcare’s RM500mil capex

The world, especially the more advanced nations are all having ageing population themes. Even Malaysia is becoming an ageing nation. The demand for quality healthcare is thus growing by leaps and bounds and we can see this in Malaysia where the private hospitals are usually full and Malaysia is also a favourite destination for many when it comes to medical tourism. We have both quality and affordability especially when compared to many much more advanced nations

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tax documents on the table
Financial News

Financial news: Thou shall not run away from tax

Malaysia’s Income Tax Act says that the administrator or next-of-kin of the deceased persons have to settle their tax areears. What this tells us is that no one could escape tax, even if the person has left this world. This Act acts to ensure the person does not delay paying the tax and then when the person dies, the government of the day would ave to write this off. Just need to note that if the person has no financial ability to pay, the government would have no choice but to write it off. Think… who will have to pay for this if the government decides to write it off?

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cryptocurrency chart displayed on a laptop
Financial News

Financial news: When the economy is supported by domestic consumption

Too many friends I know say that the Malaysian economy is bad. These friends did these things: two went to Norway… one bought a new EV… MANY have the top of the range branded smartphone… most others are on holidays where the hotels they stay really does show that they have the money to pay. Let’s say I believe all of them. It meant that they represent minority then? Since, the Malaysian economy in Q1 2023 is estimated to be GROWING by 5.7 percent and the main reason for this expansion in economy is domestic consumption.

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calm couple putting carton boxes into car trunk
ABCs of Personal Finance

Financial news: Countries with decreased housing prices. Does this mean it’s easier for the people to buy a property?

It’s quite funny, really. When we think prices are moving up, we buy. It does not matter who made us think so. We may also not have any idea if we are already buying at the peak but it will only matter later. The worry is not being able to get anything if we do not buy now. I have friends who bought into the craze of a certain area many years ago and until today, that same little unit is still not fetching the rental which she thought she would. Perhaps just need to wait a little longer.

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photo of city buildings during night
Financial News

Financial news: My city has MORE Billionaires than your city.

If we write a 1 followed by nine zeros, we will get 1,000,000,000 = one billion! If we write a 1 followed by six zeros,
we will get 1,000,000 = one million. Are you aiming to be a millionaire or are you already on the road towards becoming a billionaire? Well, investing along may be tough to reach RM1 billion. Probably becoming an entrepreneuer would provide such a possibility. Here are all the richest Malaysians. Yes, they are all within the billionaires group. Ranking usually do not rank anyone without at least a billion to their name. Who are the richest Malaysians in the world?

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silhouette of a person sitting in front of the louis vuitton store
Financial News

Financial news: If you are looking to invest, perhaps luxury is another choice

When it comes to the stock market, many friends ask, what industry to buy? Well, if the industry is growing, everyone knows about it. However not every company inside the industry is worth investing into. Meanwhile some asked for the company name instead. Truth is, if everyone knows the company name, how could it be an undervalued counter? Or if the company is totally unknown, then why are we buying into the company?

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kuala lumpur building
Financial News

Financial news: IMF chief economist says that inflation could remain high until 2025.

As someone with asset investments (real ones and not the speculative ones), inflation meant that the price of those assets would move upwards with every passing year. That’s good for anyone with an asset. At the same time, whenever I spend money, I noticed that prices have continued to move up. My favourite bowl of fish soup noodle used to be once upon a time RM5. Then, 10% up to RM5.50 and today, it’s RM11. I have no idea if the ingredients really did increase in price that much.

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close up of man holding coins in hand
EPF

Financial news: Only 19% EPF contributors have sufficient savings to live above poverty line after retirement

If we take these two and we combine the info, then RM2,208 divided by 4 persons meant that this household has RM552 per person in the household. Fortunately it’s a household, so whether rental / home loan repayment is just one person and not all. Meanwhile cooking at home will lessen some of the burden versus eating outside. Nevertheless, it’s not a good life and Statistics Department classified any household with RM2,208 as living under poverty line.

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high rise buildings of kuala lumpur
ABCs of Personal Finance

Financial news: S&P Global comments on Malaysian banks amidst tougher conditions in 2023

A friend asked me what will happen to Malaysian bank if even the 16th largest bank in the US, SVP Bank could collapse. I smiled and said that it’s best to look at them separately. There are many reasons why SVP Bank collapsed. The reasons are not present with Malaysian banks. Read here for the earlier article: Moody’s downgraded the US banking system outlook I shall not comment further about Malaysian banks. We look at the comments by S&P Global instead.

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woman driving a new audi car
ABCs of Personal Finance

Financial News: Car buyers get better deal with abolishment of Rule of 78 (if and when it happens)

” The Rule of 78 is a method used by some lenders to calculate interest charges on a loan. The Rule of 78 requires the borrower to pay a greater portion of interest in the earlier part of a loan cycle, which decreases the potential savings for the borrower in paying off their loan. Do read the full defintion and more explanation here at investopedia.com “

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