Song for Recession

You'd better watch out
You'd better not cry
You'd better keep cash
I'm telling you why:
Recession is coming to town.

It's hitting you once,
It's hitting you twice
It doesn't care if you've been careful and wise
Recession is coming to town

It's worthless if you've got shares
It's worthless if you've got bonds
It's safe when you've got cash in hand
So keep cash for goodness sake, HEY

You'd better watch out
You'd better not cry
You'd better keep cash
I'm telling you why:
Recession is coming to town!

Finance products are confusing
Finance products are so vague
The banks make you bear the cost of risk
So keep out for goodness sake, OH

You'd better watch out
You'd better not cry
You'd better keep cash
I'm telling you why:
Recession is coming to town.

SCAM by KWSP

Remember during Budget 2008 announcement last yr, our Finance Minister (cum PM) announced that in order to assist KWSP members to reduce the burden in housing load repayment, KWSP will allow monthly withdrawal from members' A/C II for the purpose?

Sounds like a nice goodies!

When you apply for the monthly withdrawal, you only need to provide KWSP yr housing loan & instalment details from yr bank and the bank a/c # you like KWSP to bank the monthly withdrawal into it. KWSP will approve yr application based on the available amt in yr A/C II
> and compute the withdrawal period by dividing the approved amt with the monthly instalment amt. Application process takes about a month and you will receive the monthly payout promptly into yr bank a/c!

Well everything appear to be nice and good. It was indeed a noble plan until you take to close look at yr KWSP Statement! The withdrawal plan is actually a SCAM! This is how the KWSP SCAM works.......

Assuming you have RM100,000 in yr A/C II and yr housing loan's monthly instalment is RM2000/mth.
KWSP will approve yr application of withdrawal from yr A/C II of RM100,000 and pay you M2000/mth for the next 50mths. Everything appears to be in order BUT.......

What KWSP didn't highlight to you is that when the application was approved, the TOTAL AMT (RM100,000) is removed from yr A/C II! It appears to be transfered to an unknown a/c to effect the monthly payment from therein.

The impact to the member are as follows :-

1. You just lost RM100,000 from yr A/C II. Assuming the KWSP Dividend is 5%, you will lose >RM4,000 in dividend during the 1st year. Based on the above example you will will lose >RM10,000 over the 50 mths period!

2. There is no statement to account for the amt approved vs amt paid, hence you would need to keep the monthly payment voucher to reconcile against the approved amt over the 50mths period to ensure there is no missing amt!

Assuming there are 100,000 members who innocently fell prey to this SCAM, based on the above example, KWSP would have cheated the members of 100,000 X RM10,000 = RM1,000,000,000 (that's RM1 BILLION) over the period!

Furthermore, if you discovered this SCAM early and intend to stop the plan, KWSP would not allow any cancellation of the plan until at least 1 year. That would mean, once the application is approved, based on the above example, you would have lost >RM4,000.

100,000 members would have lost 100,000 X RM4,000 = RM400,000,000 (RM400 MILLION) in One Year!!!

If you're a victim of this KWSP SCAM, would suggest you call yr MP to raise hell in Parliament!
For others who have not fallen into this SCAM, pls continue to watch out and alert yr family & friends about this.

HOW COULD THE GOVERNMENT ALLOW ITS AGENCY TASKED WITH SAFEGUARIDNG ITS CITIZEN'S HARD EARNED MONEY TO CHEAT ITS MEMBERS IN THIS MANNER???

Article by Dr Mohamed Rafick Khan bin Abdul Rahman

I have been following the story of the construction of a centralized and modern pig farm in Kampung Tumbuk in Kuala Langat and how the issue of religious sensitivity and racial cards has been played by the Opposition (i.e. The BN people) in Selangor.
The issue also appears to have been made worst by the lopsided reporting by the Malay newspaper which obviously is trying to incite racial sentiments. Please allow me to share my views as a Muslim on the matter. The Babi and the narrow minded politicians who called themselves Muslims from an Islamic perspective. In Islam, the eating of swine is forbidden.
> This is clearly demonstrated in many verses of the Quran. Among others this includes: [1] 5:3, 6:145, 16:114-115; [2] 2:168-169, 3:93-94, 6:119, 10:59; [3]0-91.
My research has failed to find any evidence that suggest that the religion do not allow muslims to be standing next to or to look at or to smell a pig. Maybe some people in authority can highlight further on this issue.

First of all, I am appalled at the narrow minded politicians who made the issue of building a centralized and modern pig farming an issue. It is beyond doubt that the real issue here is economy, environmental pollution and improving quality of life in the surrounding community. The opposition (BN) are making a mockery of this just because of political mileage. I feel when something good is being done; it should be promoted by all parties.

I have travelled to St Louis , USA where it is also known as pork capital of the world. I have visited and stood 3 feet away from a pig pen. There was no smell. It was so damn clean. It is even cleaner than public toilets in Malaysia . How many of these politicians have visited such a farm and how many are involved in goat farming in Malaysia ? While goat is Halal in Malaysia , please enter many farms there is in Malaysia and you will see how dirty it is. Islam only prohibits the eating of pork. There is no prohibition of looking at it or standing next to one. In fact I have yet to find anywhere in the Quran that prevents Muslims from rearing it.

During my 15 months tour of duty with UN in Cambodia , many Malay Champa who are strong Muslims rear pigs under their house for economic reason even though they don't eat them. From an economic perspective it is better to rear pigs than cows or goat. It is simply more profitable. The pregnancy duration is about 112-115 days compared to goat which is about 150 days or a cow 290 days.

At the end of each pregnancy the pig produces between 12- 15 piglets, the goat about 1-2 kids and the cow 1 calf. From an environmental perspective, it is definitely better to have a central farm where small farmers join hands and run one big and clean farm. This way the cleanliness of our water way will be maintained. Waste management will become the epicentre of the operation. It is more economical to run one big farm than many small farms that are polluting.Overall it is a win win situation for everyone.

It is insulting the way some politicians look at the issue. I believe from an Islamic perspective it is quite clear. It is the narrow minded politicians that played up the issue that makes it into a Muslim and non-Muslim issue and trying to create a bigger racial divide among Malaysians. Sometimes I wonder, which has the lower image, the babi or these politicians. For that aspect, I respect the position taken by PAS on this matter. It has shown that it has handled the issues properly. I ask all level minded Malaysian and to re look at the 'Babi' issue again. Study the real issue properly and make a proper judgment. Overall it will benefit Malaysians from the economic, environmental and quality of life perspective.

Dr Mohamed Rafick Khan bin Abdul Rahman

North-South Expressway (Dangerous Stretch)

Dear TV3 and The Star,

I am a frequent user of our North-South Expressway and I have this IMPORTANT
experience to highlight and share:-

I was driving back to Penang yesterday afternoon (24 June 08) when I saw the unfortunate accident in the opposite direction involving the passenger bus that skidded and overturned at Tanjung Malim. I didn't know that the skidded bus was from hometown Penang untill I watched TV3 news later in the evening and was shocked to learn that the accident took two lives.

Now, this is what I need to share:-

I am a building contractor with over twenty years of experience and I have been driving my 5 series BMW (latest generation and a dammed solid road holding car) each time I travelled to KL. Lately, the new extended 3 lanes highway had been opened up for use and since then, I have also been using it quite oftenly.

HOWEVER, when I used it each time it is WET, I can really 'feel' that the new road surface is extremely SLIPPERY! To share with some of you, my car comes with a built-in traction control mechanism (skidding prevention mechanism) and you can feel it each time it is activated. Previously, I don't come across this kind of slippery feel except when I drive over a
paddle of water at certain speed.

From my observation as a building contractor, the 'wearing course' of the new road surface could be TOO FINE OR TOO SMOOTH and TOTALLY UNSUITABLE for highway use!
The wearing course (top premix layer) mix design for highways should be of minimum 20mm coarse aggregate mix that will give us the required bond between the surface and our tyres. Fine wearing course (14mm coarse aggregate size and below) is only suitable for normal road. (A proper test need to be carried out to determine the mix design of the wearing course).

Since the opening of the three lanes highway, I had seen cars skidding in front me or in the opposite direction and approximately 2 weeks ago, one of my friends who is also a frequent user of our NSE, came to share with me about his slippery feeling as well as the many skidded cars he had seen lately.

I am highlighting this to TV3 and The Star with the hope that a thorough investigation could be carried out immediately to find out how or what causes the bus to skid. A proper and independent test need to be carried out urgently to determine the design mix of the wearing course. THIS CAN SAVE LIVES.

EMPLOYEE'S PROVIDENT FUND (EPF)

This is an important reminder on EPF beneficiaries. Kindly forward to your friends especially the Non-Bumi. Make sure they do the necessary to name their beneficiaries. Be a help and pass this info to all your friends. It pays not to be ignorant. Please read on and do take the appropriate action of naming your EPF beneficiaries or updating your nomination :

1) Scenario, Imagine this :-


A EPF contributor with a non-working wife and 3 school-going children. He died unexpectedly of a heart attack. He has been contributing to the EPF since he started work as an engineer about 25 years ago and have a sizeable amount of savings. However, the widow approaches the EPF for the savings she is informed that he had named his 1st girlfriend as the beneficiary and never got to updating his nomination. Therefore, the widow is not entitled to a cent of the money. (In case of Muslims, there is still recourse under the Syariah Laws) For Non-Muslims, however, there is real concern that your life-long savings may not reach your dependants.) The above scenario may seem unlikely to you but such cases are very common.

2) Findings of the EPF :-


Many EPF contributors either do not name any beneficiary or else fail to update their nomination as conditions warrant. As it stands, about 76% of EPF's 8.51 million members have not made any nomination. And out of the 24% who have, many have not updated their nomination. All your savings and the dividends accumulated over the years may not go to those who need it the most if you do not name a beneficiary or do not update your nomination.

What happens if :-


a) Failure to make a nomination :-


If a EPF member has not made any nomination, his savings will be distributed in accordance to the law.

Letters of Administration (LA) :-


In general, when no nominee is named, the member's family will have to produce what is known as LA and submit this to the EPF in order to withdraw the savings. (The LA authorises the person appointed to act as administrator of the estate of the deceased member. This involves employing the services of a lawyer who will make the relevant petitions to court to get the LA. The whole process takes 8 to 12 months, or longer if more than one person decides to obtain the LA).

Grant of Probate (Probate) :-


If the member had made a will, the member's family will have to produce what is known as Probate and submit this to the EPF. (The Probate is an authorisation by the court to the executor named in the will to administer the distribution of the estate of the deceased member).

a) Distribution Order :-


If the money in question does not exceed RM 600,000 (and there is no land involved), the family of the deceased can then approach the Public Trustee (Amanah Raya)! to obtain a Distribution Order.

b) Consequence of failing to update nomination :-


If the member does not update his nomination, whoever the EPF contrib utor has named as his or the beneficiary in the Form KWSP 4 (AHL) will receive the member's entire savings. Therefore,the spouse and family of the deceased
will receive nothing if thecontributor has named someone else, his friend, as his EPF beneficiary. This friend will inherit his savings even if the contributor had named his spouse and children as beneficiaries to his property, including his EPF savings, in a will made after the EPF nomination


c) Muslim contributors :-

They are governed by the inheritance regulations under the Syariah Laws. The term "beneficiary" does not apply to the person nominated by a muslim. The nominee in effect only acts as an executor(wasi) of the contributor's savings. Upon the contributor 's death, this executor has a duty to distribute the deceased's property in accordance with Faraid (inheritance) Laws.

3) How does one make a nomination or update a previous one ?


You can do it by completing the Form KWSP 4 (AHL) which can be obtained at the EPF offices. You have to fill in a new KWSP 4 with the name of the person you now want to inherit your EPF savings. The new form will automatically cancel your previous nomination...... The advantages of naming a beneficiary and keepingthis nomination updated are enormous. It not only ensure that your savings will goto those who need it most, but also guarantees speedy payment to your loved ones in such a time of need. If all the documents are in order, your n ominee will get your EPF savings in about a month.

4) Locations of EPF Offices :-


* Menara Komtar, Paras 47, Penang
* Wisma KUWASA, Ground Floor, Jalan Raja Laut, Kuala Lumpur.
* Bangunan Yayasan Selangor, near AMCOP Mall, Petaling Jaya
* Wisma Peransang, Shah Alam, Selangor Darul Ehsan.
* Wisma Emerald, Jalan Meru, Klang, Selangor Darul Ehsan.
* Bangunan EPF, Johor Bharu (center of the city, opposite Wisma Imigresen)

Best Excuses - You Think You Very Big?

We always say: “Why this country can manage the particular system very well, but not our country” and we always get the same answer, “That country is small mah”. Is this true?

There are plenty big countries in the world which manage the entire transport system, housing system and others so well, which ensure the citizens will enjoy a good, safe and peaceful place to stay. These big country implement sophisticated technology and system for their people. I shall say” YOU THINK YOU VERY BIG AH?”

Ha ha .. and we will get another answer for this: “Other country rich mah” … but they almost forgot that we have plenty of resources, we have 2nd highest building in the world.. poor country can afford meh?

Whatever excuse is it, they will have the standard set of answer.

Thanks to Technology

Lately, there are many sex scandals being shown in the media, thanks to the technology of media and internet. Besides youtube, there are many places where the public can post anything they like to post.

The ugly side of the politicians being shown from video clips one by one, perhaps more to come, more exciting and more shocking!

We do not have chance to see this 10 years ago, and we should thanks to the technology to surface the truth for all to see. The ugly side of the person we upmost respected!

May be if the media was so advance 10 years ago, we will not see the bed and mattress being sent to the Court, we will see the life show… YUCK !