Refinance Your Home Loan Regularly in Malaysia

If you're a home owner with a bank loan in your property in Malaysia, have you checked if your current rate is still competitive? The loan market in Malaysia has been very healthy and changes quite significantly every six months.

Although the base lending rate (BLR) has steadily increased over the past few quarters, banks are coming up with new packages that are even attractive to current loaners. Some offer 1 to 3 percent interest rates for the first 1 to 5 years, while others continue to promote consistently lower than BLR rates, as low as BLR -2 percent.

Refinancing a home loan is even tangible for those that are less than the agreed period, typically five years, where termination comes with a monetary penalty. Competition has resulted in competing banks offering positive savings even after paying the penalty to your current bank.

A newer trend in home loans or mortgage loans is in attaching a cash deposit account that is linked to the loan. This encourages you to deposit your savings and income to the account, which is then used by the bank as collateral to reduce the daily interest charged on the balance of your home loan. As long as you maintain and/or add more funds into the account, the home loan interest is significantly reduced on a daily basis. In the end, you can effectively reduce your loan tenure by a few years! By the way, you also have the flexibility to withdraw from the account, just like your standard expenses account.

Review and refinance your home loan every few years because such products from the banks change often. Just like the credit business, debts are big dollar business for banks and financial institutions.

My current bank was not particularly keen on keeping customers when I called to enquire if I can enjoy the better terms on newer loan packages that it was offering. When they said they could not help me at all, I decided to look elsewhere for better rates. Another lesson I learnt is that the international banks are more aggressive in their offerings compared to the local banks, a good sign and wake-up call for the laggard banks here.

A good site to learn more on how you can save interests on home loans and consolidate debts to be more financially free, I recommend Rebuild.org. The site offers tips and links to loan products that may just save you years of interest, the number one enemy (and sometimes friend) to your personal wealth.

Technorati Tags: paid post, loan, mortgage, home loan, refinance, interest rate, base lending rate, bank loan

Over-Generous Taxpayers or Defective Calculators?

The Income Revenue Board (IRB) in Malaysia has announced that they have in excess of RM4 billion of tax revenue that shall be returned to 380,000 taxpayers this year.

The way the tax system works here for wage earners is that IRB automatically takes an estimated cut of their salaries every payday until the end of the financial year. After some serious number crunching and nipping a little interest from the coffers, IRB calculates the actual difference. Depending on the calculations, a taxpayer may have to give the difference to the authority or receive a refund around this time of the year.

Now, applying the classic principle of 90/10, this is how much an average taxpayer is getting back this year:

(0.1 * RM4,000,000,000) / (0.9 * 380,000) = RM1169.59

What do you know... I'm getting even less than the average!

Something must be wrong with their calculations. Perhaps they need the extra revenue for more accurate floating point calculators? ;)

Check out these links for some good reading, especially the Wikipedia one which has more links.

Links:

Too Much - A First-Ever Look at Wealth in the World
<URL:http://www.cipa-apex.org/toomuch/articlenew2006/Dec7a.html>

Wikipedia - Income disparity
<URL:http://en.wikipedia.org/wiki/Income_disparity>

Technorati Tags: income tax, taxpayer, malaysia tax, salary, income disparity, wealth distribution, income revenue board

Google Finance Website Revamped

Google has changed its finance news and charting website, Google Finance.



The new layout much cleaner and presentable as the page is divided into three columns. Recent quotes, stored using browser cookies, has been moved from the top right corner to the lower left corner. General news and corporate news of the recent quotes are featured in the center column. Most links on the page will bring you to a different page, except the top movers on the lower right.

However, the individual stock pages have not changed. :|

Overall looks pretty, but I have a few suggestions:

• Dynamically refresh each section using individual settings (they do change now, which is really cool)
• Display summary or beginning of news articles when mouseover links
• Background colour-code recent quotes with their related news
• Include stock historical prices and options

Maybe I should feedback these pointers to the Google Finance team? Although the traffic to this site is a fraction of that to Yahoo! Finance, I'm staying here because there are no fancy advertisements (full of offers that hardly benefit most of us but only the advertiser).

Technorati Tags: google finance, new website, website revamp, finance, recent quotes, new layout, yahoo finance, corporate news

Cell Therapeutics to Submit New XYOTAX Drug Trial to FDA

Cell Therapeutics announced on Friday that it will close a XYOTAX drug trial, known as PIONEER, to submit a new trial protocol to the Food and Drug Administration (FDA). The new protocol will be known as PGT306 and will be submitted to the FDA by year's end.

Because of the particularly low death rate among women patients during the trial, CTIC wants to focus its research on women with normal estogen levels. CEO Dr. James Bianco hopes that this group will be able to increase its uptake and metabolism of the chemotherapeutic drug because of estrogen.

Shares of CTIC dipped 2.2% to $1.86 on 8 December 2006.



Related posts:

Cell Therapeutics To Suspend Enrollment for PIONEER Drug Trial
<URL:http://glob.lokety.com/2006/11/cell-therapeutics-to-suspend.html>

Cell Therapeutics Signs Deal With Norvatis
<URL:http://glob.lokety.com/2006/09/cell-therapeutics-signs-deal-with.html>

Cell Therapeutics Up After Positive Xyotax Phase 1 Results
<URL:http://glob.lokety.com/2006/08/cell-therapeutics-up-after-positive.html>

Cell Therapeutics Signs Financing Agreement
<URL:http://glob.lokety.com/2006/06/cell-therapeutics-signs-financing.html>

Technorati Tags: cell therapeutics, ctic, cancer drug, drug trial, xyotax, pioneer, pgt306, james bianco

Five Tips To Be Financially Independent

1. Limit or reduce the number and amount of loans. Banks and financing companies live on interests charged on loans that people take up. Credit card loans are the top killers, as they typically charge double-digit rates per day, so don't owe the banks such money! Other loans include cars, consumer goods, and cash. Interest-free loans are quite harmless, but you may be penalized if you fail to pay or pay less than the installment amount. Likewise, property loans are not necessary evil. There are loans which are healthy to have, such as borrowing money to invest with calculated risk.

2. Keep track of your expenses. Use spreadsheets and record every expense you incur day to day. For each expense, write down the date, description, and amount. At the end of each month, compare the total expense amount with your income streams, such as salary. You can also categorize the expenses, such as credit card repayment, food and beverage, travel, and luxuries/"wants". Draw up charts to help you understand your spending patterns easily. By having such data and charts, you can decide how and where to control your spending habits to better motivate yourself to (a) increase the amount of cash to save or invest (b) think of ways to increase the number of income streams. I have an Excel spreadsheet which is pretty good for such a purpose. Contact me if you want a copy.

3. Increase the number of income streams. An important mantra of many rich gurus like Robert Kiyosaki and Spencer Johnson. Streams such as salary, rent, dividends and investment returns are some examples. Why is this important? Well, look at the opposite. Most of us have lots of expenses; expenses coming from your basic necessities, loans, bills, family commitments and so on. Compare this with the number of income streams you have, isn't it very unbalanced? Think of the problems that will arise if and when you happen to lose that stream of income. Reduce that risk by thinking of ways to increase income streams. Getting another job is one way, but not a very wise one. Try owning properties and collecting rent from them. Invest in a business venture or the stock market.

4. Carefully choose the form that your assets are stored in. Do you keep a lot of cash in a savings account? Or do you have it in gold, stocks, mutual funds, or under your bed? Where and for how long you maintain your assets will determine how much you are potentially growing or at the least avoid being eaten by the inflation rate. Inflation makes your spending power and the value of cash and other assets depreciate over time. Don't be caught by surprise when you realize that your $10,000 in the bank is worth $1,000 in 15 years' time. Study and plan where the cash should be stored, or invested in.

5. Give it away! Not all expenses are bad ideas and be avoided at all costs (no pun intended). A good habit to have is to ask yourself whenever you are about to spend: is my money leaving my pocket with the possibility of returning later, and maybe even more than before? Identify ways and chances when you can actually spend money to get more in the future. It could be buying some antique collection, or buying a piece of land. It could be paying for a nice car, but actually selling it at a higher price the next day. Lastly, believe in the mantra of good karma: giving your money and assets to needy people or to your religious authority will reward your kind deeds. Give freely even if there will be no returns. Feeling happy about it is already a good thing!

This is not a list to help you to get rich. The purpose is to be financially independent or financially free, meaning you don't have to depend on money as much as before or not at all. If you do happen to lose some or all of your assets, you won't be very worried about the loss and you would know exactly how and when to make it up.

When you are financially independent, you take out one big worry in life and have more of one of the most important resources in life: time. Time is precious and most of us have less than one hundred birthdays to celebrate.

Think about that.

Links:

bloggingstocks - Your first $10,000: Getting Started
<URL:http://www.bloggingstocks.com/2006/12/20/your-first-10-000-getting-started/>

Technorati Tags: rich, get rich, money, make money, financially independent, financially free, financial freedom, income streams, money tips

Cell Therapeutics To Suspend Enrollment for PIONEER Drug Trial

Cancer drug developer, Cell Therapeutics (CTIC, financial info), has announced on November 3 2006 that it has suspended further enrollment of test patients for its lung cancer trial, called PIONEER, to analyze the differences in early cycle deaths. The company will need to study the differences of deaths between patients who were administered the trial drug, XYOTAX, and those who were given standard paclitaxel. In addition, as recommended by the Data Safety Monitoring Board, CTIC will continue its treatment for existing patients as per protocol.

CTIC has decided to amend the primary efficacy endpoint of the study according to the recommendations from the Food and Drug Administration (FDA). The survival results of women with normal estrogen levels will be the target and this protocol change will be submitted to the FDA for approval. This will likely delay the interim analysis results of PIONEER by at least six months.

CTIC traded down 1 cent (0.6 percent) on moderate volume on Friday November 3 2006.

Update November 7 2006 1006hrs:

The stock plunged 13 cents or 7.93% at the end of Monday November 6 2006.

Related posts:

Cell Therapeutics Signs Deal With Norvatis
<URL:http://glob.lokety.com/2006/09/cell-therapeutics-signs-deal-with.html>

Cell Therapeutics Up After Positive Xyotax Phase 1 Results
<URL:http://glob.lokety.com/2006/08/cell-therapeutics-up-after-positive.html>

Cell Therapeutics Signs Financing Agreement
<URL:http://glob.lokety.com/2006/06/cell-therapeutics-signs-financing.html>

Technorati Tags: cell therapeutics, ctic, xyotax, pioneer, drug trial, dsmb, fda, data safety monitoring board, food and drug administration

Richard Branson Pledges US$3B Over Ten Years

It seems to be the year of personal philanthropy and environmental awareness wakeup.

Sir Richard Branson, owner of the global Virgin empire, has decided to invest up to US$3B over the next decade to aid fighting global warming. This amount is contributed entirely from Branson's airline and rail businesses. He was convinced of the urgent need for environmental reform after a home visit from former US vice president Al Gore.

The generous offer was made during this years Clinton Global Initiative and exceeds the combined contributions from last year's event and the other parties this year. However, since last year's transport revenues of the flamboyant businessman accounted for only US$171M, Branson will raise funds externally or cough the remainder out from somewhere by the end of the ten years.

Some initiatives that the funds will be helping in are to research on environmentally friendly airline fuel and using enzymes to make ethanol and butanol.

Branson's charity may have a commercial benefit as well. With plans to expand his Virgin Atlantic by ten percent and into the American market, such a move may help reduce the cost involved in controlling the carbon emissions from the planes as required by law in the near future.

A daring but smart effort by Branson, to possibly reduce pollution costs from his businesses while generating a consumer influence in favour of environmental care. But then again, he has said recently that in thiry years Virgin will be known for its good deeds in the global community than the strong consumer branding his group is so famous for.

Well, what can I say. As long as these guys help to sustain the Earth a bit more, I'm hopeful my family and I can survive till our restful ends.

Technorati Tags: virgin, charity, philantrophy, contribution, offer, pledge, generous, giving, richard branson, branson, global warming, al gore, clinton global initiative, environmental issues, virgin atlantic

Cell Therapeutics Signs Deal With Norvatis

Cell Therapeutics (CTIC) has signed a worldwide licensing deal with Norvartis worth US$285M. This agreement will see Norvatis assisting in the development and commercialisation of Cell Therapeutics' flagship drug, XYOTAX. The amount includes US$15M equity investment in the drug development company as well.

Cell Therapeutics traded up 13 cents or 6.67% on Monday to $2.08.



Technorati Tags: cell therapeutics, ctic, xyotax, licensing deal, agreement, novartis, drug, cancer, investment

Cell Therapeutics Up After Positive Xyotax Phase 1 Results

Cell Therapeutics stock was up after positive results from 91 percent target achievement rate was reported in the August issue of the American Journal of Clinical Oncology. Twelve patients with esophageal or gastric cancer has been tested with the cancer drug Xyotax.

Dr. Howard Safran of Brown University says that Xyotax may "replace paclitaxel as the most important radiation sensitizer in solid tumors". If this is true, we may see a future without the need for or less side effects from chemotherapy drugs.

CTIC closed $1.61 on Thursday 24 August 2006.


Technorati Tags: cell therapeutics, ctic, xyotax, results, cancer, tumor, chemotherapy, drug

Warren Buffett To Give US$37B Away!

The value investing guru of our time, Warren Buffett, has announced that he would plan to donate 83 percent of his Berkshire Hathaway shares to several charity organisations, including the Bill and Melinda Gates Foundation. At the company's current market price, this translates to about $37.4 billion US dollars.

This news may be related to the recent announcement by Bill Gates to fully move on to philantrophy by 2008, mentioned previously here.

Buffett's unmatched generous gesture is prompted by his wife Susan's death in 2004. He has also allocated 350,000 shares for each of his children, advising them to "focus the new funds and your energy on a relatively few activities" in which they could make a difference.

From today onwards, I think many of us, including myself, have a new respect for Buffett. This man has more than what anyone on Earth needs and now he is giving it back to society.

How much is enough for you? When will you be satisfied? How will you feel if you don't get it in the end?

<URL:http://quote.bloomberg.com/apps/news?pid=10000006&sid=aimfM9VqxrOw&refer=home>
<URL:http://www.washingtonpost.com/wp-dyn/content/article/2006/06/25/AR2006062500801.html>

Technorati Tags: warren buffett, charity, bill gates, donation, berkshire, shares

Google To Launch New Ad Model

David Jackson from SeekingAlpha Network said that he received an invitation from Google (GOOG) to try a new ad revenue model, known as Cost-Per-Action (CPA). This is in addition to the existing Cost-Per-1000-Impressions and Cost-Per-Click models.

The site owner gets paid an advertising commission if the visitor clicks on the ad and performs a certain action. This action can be buying a product or referring more visitors to the advertiser's site. This model is similar to affiliate marketing, commonly practiced by many stores. One example is Sideshow Toys.

<URL:http://internet.seekingalpha.com/article/12363>

Technorati Tags: google, adsense, revenue model, advertising, marketing

Cell Therapeutics Signs Financing Agreement

Cell Therapeutics (CTIC) has entered a financing agreement with Societe Generale Group for the French bank to buy $55M new shares to trade on the Italian stock exchange.

Societe Generale Group will have the option to purchase an additional $17M over the next 24 months.

CTIC is a biotechnology company that develops drugs to combat cancer and related conditions. It's flagship product, XYOTAX, is undergoing trails for approval and sale.

Source: The Associated Press

<URL:http://news.moneycentral.msn.com/provider/providerarticle.asp?feed=AP&Date=20060621&ID=5812747>

Technorati Tags: cell therapeutics, societe generale group, shares, biotechnology, xyotax, market, financing agreement

Gates To Go

Microsoft Corporation Chairman, Mr. Bill Gates, has announced his planned retirement from the position of Chief Software Architect with immediate effect with a transition from active involvement in the company in the next two years.

With the closing share price today at US$22.07, Bill's current value in Microsoft is at US$21,582,782,680, give or take a few hundred million. With his huge resources, he intends to focus on his philantrophic ventures with his wife, Melinda.

I respect Bill's choice to move on to a very respectable, noble, and useful purpose in life, besides taking over companies or crushing their existence. Since the beginning of the year, I have been contributing to charities that I feel strongly for, like the International Committee of the Red Cross (specifically for the Somali war) and Wikipedia. Help support these needy organisations to help the poor and under-priviledged people in the world!

Back to Microsoft and Bill.

I remember the time when I was tinkering with OS/2 Warp during those days when everyone else was falling into Windows 3.1. Fortunately for Microsoft but too bad for IBM, OS/2's popularity dwindled and became relegated to server verticals. Still, it had a promising start, had it not been the loss of Microsoft's blessing and the lack of a growing application development market.

So, if you're the kind of guy who has billions of dollars on hand, try to do something good for people, animals or the environment once in a while. Expect nothing tangible in return, just a Good Feeling All Over.

<URL:http://www.microsoft.com/>
<URL:http://www.icrc.org/>
<URL:http://www.ibm.com/software/os/warp/>

Technorati Tags: microsoft, bill+gates, retire, shares, charity, melinda, international+red+cross, donate, os/2, ibm

Global handset market to reach $250 billion by 2011

Global handset market to reach $250 billion by 2011 by ZDNet's ZDNet Research -- Global wireless handset market grows 23% in 2006 and will reach $250 billion by 2011, In-Stat says. The market for wireless handsets was $110 billion in 2005. In-Stat predicts that it will grow 23%, to exceed $136 billion in 2006. It will continue to grow but at a slower rate, exceeding $250 billion in 2011. [...]

Technorati Tags: handset, mobile, wireless, phone, growth, billion, market, statistics