Health and Wealth need Extra Effort

Time flies and it’s already mid-January of the New Year. Did you make any new year resolutions? Are you still working towards the resolutions that you made? Many believe that New Year resolutions are made to be broken.


However, for me, despite how tough it is, I have decided to ensure that I keep my resolution – to reduce my cholesterol level.

Over the New Year’s Day long weekend, I returned to Singapore. It was then that I reviewed the results of my annual medical check-up. Everything was fine, except for the part on “cholesterol”. Both the “good” and “bad” cholesterol levels have increased, but the “bad” ones are slightly more than the “good” ones. And I lament, why not the reverse?

At the back of my mind, I know that good health does not come without effort. While hereditary make-up plays a part, that factor is beyond our control from the day we are born.

We owe it to ourselves (and to our loved ones) to put in the time and energy to look after our health amidst the stress and demands of modern-day life.

I have been advised that the best cure for cholesterol is, very simply, consistent exercise and a healthier diet. Cholesterol can be a slow and silent killer.

Dieting is within our control. While it is ideal to have more vegetables and fruits, steamed fish and beancurd, it would be good to have other choices to tantalise our palates.

So, the key word here is “moderation”. Instead of a total exclusion of rich food, we have to practise restraint at meal times.

In the past, I might eat a normal portion. Now, I ask for less or a smaller portion, or just share the same portion with family members and friends.

Plus, there is a significant relevance to my job as a consumer banking head to help people realise their financial objective – be it owning a house, saving for rainy days, paying for children’s education or planning for retirement.

One must have good health to enjoy retirement and eventually, see one’s children get married and start a family. Here are three simple points for the New Year:

·Diet is about moderation and balance. Rich food gives us great satisfaction but it also leads to higher cholesterol and other ill-effects. However, excessive calorie-counting may lead to malnutrition. As I had consumed too much rich food, I now have to tilt the scale to include a more healthy palate.

This is akin to investing. If I have too much risk in my portfolio, I will take steps to reduce it. So, why not do the same with my diet? It is not ideal if your investment portfolio carries too much or little risk. High risk means a higher probability of losing money (of course, the opportunity to make a return is also higher). On the other hand, an investment portfolio that carries too little risk may not grow fast enough to meet your investment objectives.

·Heart attacks are a significant cause of death, and life is uncertain. Even having a regular exercise regime and dieting moderately is no guarantee to keeping unforeseen events at bay. We cannot anticipate contingencies, but we can plan and have some protection in place.

Protection is not to prevent the contingency, but to protect our loved ones with sufficient financial support when the unthinkable happens. Just a simple medical report had prompted me to review my insurance coverage. While I am qualified to review it myself, I am too close to my life to be completely objective.

·Retirement needs planning, saving and investing. I advise people to provide enough for their retirement lifestyle. We should be able to enjoy our golden years with all the financial ends properly taken care of. Wealth and health are so intrinsically tied together.

Thus, I am committed to a regular exercise regime to invest in my health, just as I am committed to “paying myself first” to increase my savings propensity and regularly invest towards my retirement fund.

As we reflect over the past year and look ahead in the New Year, do pay some attention to the question of health and wealth.

As a parting shot, please go for a medical checkup and a financial checkup. Balance your diet and exercise, just as you would balance your investment risks.

Have adequate protection coverage as it is never too little until it is too late. My wish is for all readers to have good health and great wealth in 2010. Have fun and be happy.

Source from Starbiz.

GST Terms to Remember

This post is important for those still unclear about GST.

Goods and services tax (GST) is also known as value added tax, this is a tax on the final consumption of goods and services. GST is a multi-stage tax, which means the Government collects the tax at various stages along the delivery process. Although paid by the intermediaries (such as manufacturers, wholesalers and retailers) throughout the production and distribution chain, the tax is ultimately passed to the consumer.


Therefore, the tax is not a cost to the intermediaries and is not reflected in their financial statements as an expenditure.

A business registered in the GST system is required to charge GST on its output of taxable goods or services supplied to customers. The business is allowed to claim as credit any GST incurred on its purchases of business inputs. The customers, if they are also making taxable supply of goods and services, in turn, are allowed to claim a credit on GST paid on their inputs. Thus, double taxation is avoided and only the value added at each stage is taxed.

· Input tax is the GST that a business has incurred on the purchases of goods and services as part of its operations.

·Output tax is the GST that a business charges on the taxable goods and services that it supplies in the course of business.

·Standard-rated supplies means taxable supply of goods and services that are subject to a standard rate, which is 4% in Malaysia’s case. A taxable business can claim input tax credit on its business inputs in making taxable supplies.

· Zero-rated supplies are taxable supplies that are subject to a zero rate. Although no GST is imposed on these supplies, a taxable business can claim input tax credit on its business inputs in making taxable supplies.

·Exempt supplies are not subject to GST. Suppliers of exempt supplies cannot claim the GST incurred on business inputs.

Source from starbiz.com.my

Free Resume Samples

It is a little different with my previous blog entries isn't it?


Should I put under http://contestvalley.blogspot.com/ or this blog? I spent some moment to think where should I put this entry and finally it is here.

Anyway, you gonna get free resume samples which is good for those job seekers. There are more than 150 samples for you to choose and around 66 different of job catagories are available there. Ranging from Accounting, Advertising to Student resumes.

What else perks you gonna get there?
1. Free resume examples written by professional resume writers.
2. Local Job Search scans 1,000s of websites for millions of jobs.
3. Articles written by a professional resume writer.

Alright, here is the link.

Other blogs that you might interested:
http://bigcashmaker.blogspot.com/2009/07/how-to-write-resume.html
http://bigcashmaker.blogspot.com/2009/02/10-jobs-where-employers-come-looking.html

The Role of Right Branding and Good Packaging in Boosting Sales

Good packaging and strong brand presence go a long way towards enhancing sales of products, as they stand out in the market and attract customers' attention.

The right branding and good packaging can triple a company's sales, SME Corp Malaysia Bhd chief executive officer Datuk Hafsah Hashim said.

"We monitor small and medium enterprises (SMEs) that have obtained SME packaging grants and we found that the minimum increase in sales was 30 per cent, while the best was 230 per cent," she told Business Times in an interview.

Training local SMEs on innovative packaging and branding is one of SME Corp's immediate plans after it started its operations on September 1.

SME Corp, an agency under the International Trade and Industry Ministry, has been mandated by the government to coordinate and monitor overall SME development programmes.

Plans in the pipeline include a mobile packaging unit and a SME packaging and branding academy.

These programmes seek to enhance the visbility of SME products and services as well as develop strong Malaysian brands for both local and global markets.

Hafsah said SME Corp will collaborate with partners in implementing these SME programmes.

She said the mobile packaging unit will likely be launched this month, where buses will travel to small districts and villages to showcase and create awareness among entrepreneurs on the need for a good packaging technique and branding.

"We want to do away with people using packets and staplers for their products," she said.

The buses will also ferry entreprenuers from rural areas to its packaging and branding academy, which will be established within the Limkokwing University of Creative Technology in Cyberjaya.

Give the perfect gift this holiday season, Inspironâ„¢ 14

Aimed at improving packaging and branding among the SMEs through guidance and training, the academy is also expected to be launched this month.

Hafsah said SME Corp and Limkokwing University will collaborate to create 100 brand names for the SMEs.

Enterprenuers then can choose any of the 100 brand names for their products, after which they would be trained on branding such as brand protection and related issues.

They are also eligible for financial assistance from SME Corp.

Hafsah said a number of SMEs who are suppliers to Tesco hypermarket will be participating in the programme, under the tie-up between SME Corp, Limkokwing University and Tesco Stores (M) Sdn Bhd.

She said as most of Tecso suppliers have reached a three-star SME Competitive Rating for Enhancement (SCORE) rating, they are able to supply products to Tesco chain of stores in the UK.

Other companies, such as Matsushita, Agilent and Proton, have also required their suppliers to have at least a three-star SCORE rating.

Hafsah said the SCORE programme, which was developed in-house by former Small and Medium Industries Development Corp, is expected to get a patent by the end of this year.

 

Sourced from BTimes.

Renting a Property

Renting out real estate can be a lucrative source of income. Those who are already in the game know the rewards that it can reap. It offers stable returns compared with a lot of other forms of investments and is a great way to build wealth.

But just like any other investment, it requires a good deal of effort, patience and research to achieve success.

Location and money
These two factors are the essence of property investment. The investor needs to find properties in locations that are likely to generate great yields. To attract tenants, it is a good idea to own a place near a school or a college, with good access to public transportation.

Having money to spend is also very important. But what if you are a small-time investor and your financial resources are limited?

“There are many ways to find property. Look out for foreclosures or auctions. Get to know people on the inside who know about properties that are going under the hammer,” says Felix Wong, who has been a landlord for over 30 years.

“Keep an eye out for advertisements in the newspapers or speak to real estate agents who can let you know in advance about these sales.”

Alternatively, if one doesn’t have the money to buy property, one can always rent and subsequently sub-let at a profit. That was how Tan, now an accountant, financed his tuition fees when he was studying in college.
“I was renting a bungalow in Petaling Jaya and got a part-time job to pay the rent and tuition fees initially. I then sub-let the rooms in the house to other students. I was able to quit my part-time job and use the spare time to focus on my education,” he says.

It is important, though, to make sure that your tenancy agreement has no clause that forbids sub-letting.
If you are determined to own property, you should have a rough idea of how long you plan to hold on to it, says financial planner Alex Low.

“The longer you own the property, the more you’ll need to invest in maintenance, repairs and improvements. If you’re only planning to own the property for a short period, you should avoid making any major improvements unless you’re sure you can recoup the cost with a better re-sale price,” he adds.

You’ve invested in property. What now?
Once you have something to rent out, you need to let the world know you’re looking for tenants. But before you do so, there are a couple of things that needs sorting out first.

Checking out the competition
“Check to see if there are other properties within the vicinity that are being rented out. Find out their rates and set your rates accordingly. If you charge too much, you’ll only chase tenants away,” says Timothy Arumugam, a Bangsar-based landlord.

“Of course, you still need to charge enough to pay for maintenance, insurance and utilities, and make a profit. Don’t forget that you may also need money for repairs and other emergencies.”

Knowing your target market
Determine also the type of people you hope to attract. If you are targeting students, your rental rates would have to be more affordable than if you are hoping to have tenants who are, say, white-collar employees.

Property to let
Now it is time to tell everyone how attractive your rental offer is. If you have money to spare, the best way is to advertise in the newspapers. If you have a specific target group in mind, such as students or only women, you could try advertising in education or women’s magazines.

Alternatively, there are creative ways to advertise for free, says K. Marimuthu, a Klang-based landlord.

“You can always place ads on trees, street lights, walls, buildings or telephone booths. If you have permission, you can advertise in the colleges or universities,” he says.

Another idea is to to promote the property via a webpage or blog. “Don’t forget to put down your contact number or e-mail address, and if it’s an outdoor ad, the website or blog address, if there is one. It’s also helpful if you had pictures of your property on it. After all, a picture tells a thousand words,” adds Marimuthu.

Protecting your investment
Before letting a potential tenant into your home, it is best to run a background check. Doing a check on the person’s financial background helps if the tenant has a bad track record.

Marimuthu says it is also very important to lay down the “ground rules” before finalising the tenancy agreement. “Determine from the start what can and cannot be done. It’s your investment, so it’s your rules. It’s of course better if these rules could be laid down in black and white.”

He adds that it is also useful to set up an “emergency fund” for repairs to the property. “You never know. The toilet could get clogged or the water heater could go kaput. It’s your responsibility to make sure everything is in working order,” he points out.

“Just before the tenant rents the place, the landlord should take photos of the premises so that when the tenant leaves, any damage to the property can be assessed more clearly.”

By Eugene Mahalingam, Starbiz.