Budget 2013

Rakyat budget 2013? is the budget for you? for low income group or for the rich? You can judge yourself. 

FlyScoot.com & iPad in budget airlines!

Was watching Bloomberg when i'm back at home. Then saw the news on launching of Scoot Airlines, the new budget airlines from Singapore Airlines which strip off everything, no LCD panel at back of seat like many other airlines but offer iPAD for rent!

Today 4th June 2012, Monday Fly Scoot have its inaugural flight from Singapore to Sydney Australia. That's why Fly Scoot is in Bloomberg news!

Flying medium-haul on a budget flight does not have to be a drag.

Singapore's first low-cost, long-haul carrier Scoot will offer iPads pre-loaded with movies and TV shows for rent on board their flights.

The iPads come with extra battery packs and a stand so that passengers can watch movies without having to hold it throughout the flight.

For those who prefer to use their own iPad or electronic device, chief executive Mr Campbell Wilson said that Scoot will be launching a wireless onboard server for passengers to access onboard data with their personal device.

"Our intention is to allow people to use their device as much as possible. It saves us money as we don't have to provide one but it also gives people greater choice of entertainment," said Mr Wilson.

However, movie studios at this stage do not allow first release movies to be streamed wirelessly to a device, so passengers who are using their own iPad will not be able to view certain movies onboard.

All frills like iPads, meals, wider seats with more leg more and baggage allowance are chargeable.

Ticket sales for the new carrier have exceeded the 100,000 mark, one day before its inaugural flight to Sydney on June 4.

Scoot currently flies to four destinations - Sydney, Gold Coast, Tianjin and Bangkok, and its average fare costs 40 per cent less than those of full-service airlines. Two more routes will be added by the end of this year.

The airline is eyeing destinations in China and India next.

Source: http://www.relax.com.sg/relax/news/1143370/iPads_for_rent_on_Scoot_flights.html

PNB - The Warisan Merdeka 100-storey tower

On my Warisan Merdeka the 100 storey tower post, i got no comments. 


Today, let me take you through PNB... and let's you be your own judge. 

I was shown on this statement by friend which he source from LYN:

"Transparency on the financial statement for all funds: all private mutual funds companies except for PNB. PNB has never annouce their Profit and Lost account of their funds to the public."

About PNB 

Embracing the Winds of Change

If any thought could be etched into the minds of every patriotic Malaysian, it should be this one, by a great Asian leader. And if there could be an event that sparked the transformation of the Malaysian economy, it would undoubtedly be the day Permodalan Nasional Berhad (PNB) was created.

Incorporated on March 17, 1978, PNB was conceived as a pivotal instrument of the Government's New Economic Policy to promote share ownership in the corporate sector among the Bumiputera, and develop opportunities for suitable Bumiputera professionals to participate in the creation and management of wealth.

Prior to the establishment of PNB, efforts to increase Bumiputera ownership in the corporate sector were not sufficient as shares allocated to individuals were seldom retained. Research indicated that when Bumiputera shareholders sold their shares, the profits generated were consumed and not reinvested.

Through PNB, substantial shares acquired in major Malaysian corporations from funds provided by Yayasan Pelaburan Bumiputra or Bumiputra Investment Foundation were transferred to a trust fund and sold to the Bumiputera in the form of smaller units.

By employing this innovative investment model, PNB ensures that these shares are retained, resulting in the cultivation of widespread savings habits, and development of entrepreneurship and investment skills of Bumiputera.

With fund under management totaling about RM150 billion, the PNB Group is the country's leading investment institution with a diversified portfolio of interests that include unit trusts, institution property trust, property management and asset management.

Our Values 
Our Vision

"We will be the world class investment organisation, distinctive and successful in everything we do."

Our Mission

"We are the premier investment organisation committed to enhance the economic wealth of the Bumiputera community in particular and contribute towards the growth and prosperity of the nation for the benefit of Malaysians."

Corporate Value

A Continual Commitment to Excellence

"To many the name PNB, connotes the idea of a premier investment institution dealing with unit trusts, but there is more to PNB than meets the eye."Tan Sri Dato' Hamad Kama Piah Che Othman To build the culture of a modern and progressive organization, we have formulated a set of values that reflect the rich tradition and dedication to excellence that we passionately believe in and uphold at all times. Measure of Success We measure our success by our achievement of industry leadership, competitive returns and superior service to our customers and an environment of trust and personal growth for our employees. Values We believe that the success of our organization depends on understanding and satisfying the needs of our internal and external customers and strive to deliver quality products and services. Integrity We are committed to the highest level of ethical conduct in everything we do. We will strive to do the right thing. People We help our employees to improve their skills. We cultivate an environment of mutual respect, candor and trust, where all can reach their highest potential. We respect the dignity of each of our employees and their commitment towards the well-being of their families. Performance We set high expectations and goals to meet our commitments. We strive to be the best in our industry. Openness to change, to experimentation and to the pursuit of excellence, characterize our attitude to every aspect of our work. Prudence We must have the ability to govern and discipline ourselves and treat our resources with appropriate respect. Skill and good judgment are essential in the use of our resources. Prudence is at the heart of our culture and will help us remain credible as an investment institution. Speed We focus on speed of action for competitive advantage. We believe that being first, speed of action, hard work and determination to get things done are characteristics of successful organizations. Teamwork We build trust and teamwork with open candid communication at all levels of our organization. We believe that we will succeed only as a team and that the full participation of all is essential to the fulfillment of our mission.

Annual Report

The document can be downloaded in PDF format. . To view and print the document in PDF file format, you will need to have the Adobe Acrobat Reader TM installed in your browser. 

• PNB Annual Report 2000

• PNB Annual Report 2001

• PNB Annual Report 2002

• PNB Annual Report 2003

• PNB Annual Report 2004

• PNB Annual Report 2005

(Warning! Make sure you have a good internet connection when you about to click to download the annual report. The report size are 37.77MB. ) 

Source:  

http://www.pnb.com.my/index.cfm

Remarks: 

This is the best i can get. The Warisan Merdeka 100-storey tower just cost RM5 billion which is a tidy portion to PNB. Thus its can be done financially. As at todate, we dont know extractly how deep the PNB pocket are but to depend the info available from website. 

But hey, you can spend the RM5 billion from the total RM150 billion and left RM145 billion. This is sound very "simple" calculation right? You're wrong. The return tht PNB have promised to their stakeholder, in this case the ASN unit trusts holders, they might get lower return. 

Ok, i should feel safe as im not invested in any ASN unit trust, but my aunt, uncle, grandpa, grandmum, neighbors are investing in ASN unit trust...  

You be the judge. 

(p/s: This post is purely words as image uploads function is disabled due to maintenance) 

Warisan Merdeka the 100 storey tower

In the last Friday Budget 2011, our PM Datuk Seri Najib Tun Razak announced the proposal of 100 storey tower called Warisan Merdeka at the cost of RM 5 billions.

The photo below was posted in our The No1 Home+Lifestyle Malaysia facebook by Patchay.com

Source: The No1 Home+Lifestyle Malaysia FB

Source: msyukry08 at SSC Malaysia. Courtesy of Kumpulan Arkitek. Picture is yet to be verified or endorsed by any party.

There are a lots of positive views and the negative views on the tower. The good one can be found on news like The Star today while for the negative view you only have to go 1 place that is 1M Malaysians Reject 100-Storey Mega Tower facebook. 

There are many question running in mind. Do we need another mega tower in KL? Do KL need more office space? Do demands for office space will increased by 2020? Are our KLCC twin towers office space fully occupied? Is PNB  wanted to consolidated all their subsidiaries in 1 tower? Is the project will be transparent? Who will bear the over-budget problem? Is the tower will be duplicate of Malaysia identity? Who going to built the tower? Foreign contractors will be main choice? Did local contractors have the expertise? Who funding the tower? Will the tower eventually become another gathering point for foreign workers during weekend and holiday day? 

OK, im just read the news on The Star today here: The Star .

"Najib stressed the Government did not instruct PNB to construct Warisan Merdeka and that it was the company’s board of directors that had wanted to embark on the project. "

 Its the PNB's board of directors which comprises of 6 members according to PNB website. 

Ladies and gentlemen, the board of directors of PNB. The brainchild of 100-storey tower. 

Chairman YABhg Tun Ahmad Sarji bin Abdul Hamid	President & Group Chief Executive YBhg Tan Sri Dato' Sri Hamad Kama Piah bin Che Othman	YBhg Tan Sri Datuk Asmat bin Kamaluddin
YBhg Tan Sri Dato' Dr. Wan Mohd. Zahid bin Mohd. Noordin	YBhg Tan Sri Datuk Amar Haji Bujang bin Mohammed Nor	YBhg Dato' Seri Ainum binti Mohamed Saaid

Im really wanted to comment but im in-capable to comment on this 100-storey tower project. 

Even i have the finance degree, but the real world out there are rapid changing! What we see now might represent its better or worse in future. Now im just realised the questions on above im mentioned are too laymen who see it now. 

We know who we are. We know what we are. We are Malaysian. We shit everywhere. We throw rubbish everywhere. We never recycle. We rather correct than prevent.  

 Im just can pray everyday that shit wont happen to this project. Just hope the bad habits are stopped and the good transparent, quality, commitment, safety, planning and etc etc will be blessing the tower.   

My 2cents end here.