Sunday, January 22, 2017

Inflation Rate Up 1.8% Due To Higher Food Prices

Inflation Rate Up 1.8% Due To Higher Food Prices

Higher food prices pushed December’s inflation rate up 1.8% from a year ago, revealed the Statistics Department, adding that the increase was slightly lower than a Bloomberg survey of a 1.9% rise.
It said on Wednesday that the overall index for the Consumer Price Index (CPI) increased by 1.8% to 116.9 in December 2016 from 114.8 a year ago.
The higher CPI, according to the department, was due to the increase in the indices for food and non-alcoholic beverages (+3.7%) and housing, water, electricity, gas and other fuels (+2.1%).

In November, Bank Negara Malaysia said inflation would probably average at the lower end of the 2% to 2.5% forecast range for 2016 and expected to remain relatively stable in 2017.
Malaysians have been straddled with high household debt and the rising cost of living ever since oil prices dropped, sending the ringgit crashing to an all-time low.
Many will also crimp expenditure as the Chinese New Year draws near with prices of seafood and greens becoming more expensive due to the weakened ringgit and an unusually long monsoon season.

Wednesday, January 18, 2017

How Much Will A Divorce Cost You in Malaysia?



There have been many discussions about the rapid increase in cost for wedding these days. Yet, not many people

 talk about, or are even aware of, how much a divorce would cost them.
Of course, one does not get married thinking about a divorce, but did you know that, as of 2014, it was 
reported that one divorce takes place every 10 minutes in Malaysia and the number of divorces have more than 
doubled in just eight years from 2004? As the divorce rate in Malaysia is increasing year on year, it is important 
to equip yourself with important details to protect yourself financially, should it ever happen to you.
Ironically, the number 1 cause of divorce in Malaysia is financial problems, the second most common reason 
cited as being infidelity while the third reason fighting over key differences of raising children.

How much will the divorce proceedings cost?

When it comes to the cost of divorce, there are two main factors to take into account, which are the court
 fees and the legal fees. The court fees are fixed, but the legal fees largely depends on the complexity of the case
 and the lawyer’s fee.

Therefore, it is not easy to determine the cost of divorce, but understanding the difference between professional
 legal fees and court awarded costs (court fees) is important.  Do take note that there are different procedures
 for Muslim and non-Muslim couples, as Muslim divorce proceedings will take place at the Syariah court.

The court cost

You will have to file your divorce application or petition in court first before the divorce process can proceed. 
This comes with a court fee, which is separate from the legal fees and includes:
  • RM160.00 Filing of a Divorce Petition (General Form of Petition or Joint Petition)
  • RM16.00 Filing of Statement as to Arrangement for Children (General Form of Petition or 
  • Joint Petition)
  • RM16.00 Filing of an Affidavit in Support of Petition (General Form of Petition or Joint Petition)
  • RM 6.00 Each exhibit referred to an affidavit, statement or petition and required to be marked
Note: court fees may vary, check with the court staff for exact filing fees.

An estimate of legal fees

The more complicated a divorce case is, such as, if both parties cannot agree on the division of assets, if financial  
support is required, or children custody is involved, the more expensive the legal fees will tend to be. 
A lawyer’s fee can also depend on their seniority and level of experience.
  • Contested divorces: takes a minimum of one year, and may cost a minimum of RM5,000 and can
     even go up to RM50,000
    or more.
  • Mutual Consent Divorces (joint petition): takes three to six months, and may cost between RM3,000 
  • to RM6,000.
Though you may not need to appoint a lawyer when filing for a divorce, this may be the advisable course of 
action when a Contested Divorce requires a court hearing. Though this will then incur more cost, at least you
 have a lawyer to guide you through the tricky process. But bear in mind, each time your lawyer attends a court 
hearing, you will be charged and this will increase the legal fees.
If the cost of engaging a lawyer worries you, you have the option of legal aid. In Malaysia, there are two main 
organisations offering legal aid. The first is The Bar Council Legal Aid Center, which was set up by the 
Malaysian Bar and the second is The Legal Aid Department which is under the Prime Minister Department.  
But, you will need to undergo a verification process before you qualify to receive the legal aid.
A Mutual Consent Divorce (joint petition), on the other hand will cost less. This means when a couple mutually 
agrees to divorce therefore it will be less complex, and as such the legal fees will be lower. In fact, if you can 
come to an agreement about financials, matrimonial assets and the arrangements for children, you may not have 
to attend a court hearing at all, potentially saving you thousands of ringgit.


What are you entitled to from the divorce?

As for the division of matrimonial assets, that will be decided in court. However, there may be other entitlements
 like alimony and child maintenance.
Alimony is usually awarded to the wife, and given by the husband and this applies to both Muslims and 
non-Muslims, as well as child custody if the wife has been granted custody.
As for Muslims, under the Islamic law women are entitled to:
  • mutaah, a consolatory gift granted by the husband for his ex-wife after their divorce
  • custody of the child
  • maintenance of the child
  • maintenance period of iddah (the period a woman must observe after the death of her spouse or after a 
  • divorce)
  • harta sepencarian (property jointly acquired by husband and wife during the subsistence of the marriage 
  • in accordance with the conditions stipulated by Hukum Syarak.)
Divorce cases may open a can of worms as both sides battle it out during the court proceedings, and it can 
also stretch on for years. As a result, the consequences of divorce is beyond the battles of assets but can also 
affect one’s psychology and morale, as well as the children involved. During or after the divorce procedure, 
some individuals may seek counselling and therapy which can cost between RM300 – RM400 per session (or more) 
at private psychologists.
Also consider the fact that you no longer have shared income, which means you will be shouldering your 
expenses separately from now on. Do review your monthly budget and spending to help you ease into adjusting to 
single income.
The cost for divorce could be the same amount you spend on the wedding, sometimes even more. Therefore, 
both spouse needs to be educated on their rights and what they are entitled to if the unfortunate event such as 
divorce were to happen to ensure they will not be taken for a ride.

Saturday, January 14, 2017

The Cheapest Places To Park Your Car in Bukit Bintang

The Cheapest Places To Park Your Car in Bukit Bintang

Face it: Bukit Bintang is designed to make your wallets bleed.
Home to many of the city’s biggest and glitziest retail malls – including Berjaya Times Square, Sungei Wang Plaza, Low Yat Plaza, Starhill Gallery, Lot 10, Fahrenheit 88 and Pavilion Shopping Mall – there is no wonder that merely inhaling the air of this popular shopping hub is enough to make your net worth founder.
While you can easily spend your life’s savings at these malls, don’t expect to be able to get away without paying an arm and a leg for parking too.
Take Pavilion Shopping Mall for example. It is undeniably a top destination for shoppers, but its parking rates is also one of the most brutal. It charges RM3 per hour (from 7am to 5pm), for all seven days of the week and has no maximum cap, making it one of the most expensive parking malls to park your car in within the Klang Valley!
How much will a typical outing cost you then, if you park at Pavilion? Well, if your trip to the mall comprises typical daytime activities like having lunch, then watching a movie, and taking a leisurely stroll afterwards, you can expect to spend at least three to four hours on average. This means your parking charges can easily amount to RM12, which is rather hefty, considering that you’re paying just for space!
Rates at surrounding malls like Fahrenheit 88 and Low Yat Plaza are slightly cheaper, but the difference is hardly significant. Fahrenheit 88, situated right opposite Pavilion, charges RM4 for the first hour, and RM2 for every subsequent hour (which adds up to RM10 for four hours).
Meanwhile, Low Yat Plaza is located some 850 metres away, but has one of the cheapest parking rates in vicinity. It charges RM2.50 for the first and second hour respectively, RM1.50 for the third and the fourth hour respectively, and RM2 per hour from the fifth hour onwards (RM8 for four hours).
Think parking on the streets would be cheaper? Ha! No such luck.
From 18 July 2016, hourly parking rates at the city centre (which obviously includes Bukit Bintang) have been raised by up to 200%!
With the hike, parking charges in the city centre will now cost RM2 for the first hour from RM0.80 previously. Rates for the second hour and for subsequent hours have also been raised to RM3 respectively. That’s not much better than parking in a commercial parking lot now, is it?
Luckily, you’ve got a frugal friend in iMoney and we’ve scoured the shopping and entertainment district for the cheapest places to park your car in Bukit Bintang. It requires some walking (and in this heat, you might even faint), but you can reduce the damage on your wallet if you’re willing to go the distance!
Note: Distances are estimated using Pavilion Shopping Mall as a destination target for easy reference.

Mondays to Fridays before 5/6PM

Open carpark next to Hakka Restaurant (Jalan Conlay)

RM3 per entry (limited parking!)
Distance: 550m (8-minute walk)
Open carpark behind Kenanga International
RM4 per entry (Monday to Sunday)
Distance: 1km (15-minute walk)
Open carpark next to Wisma UOA (Jalan Pinang)

RM2 (first hour)/ RM1 (every subsequent ½ hour)
Distance: 1km (15-minute walk)
Open carpark opposite Impiana Hotel
RM6 per entry (Monday to Sunday)
Distance: 850m (13 to 15-minute walk)

Mondays to Fridays after 6pm

Wisma Cosway

RM4 per entry (after 6pm)
Distance: 700m (9-minute walk).
The Sun Complex (opposite Berjaya Times Square)
RM5 per entry (after 5pm)
Distance: 750m (11-minute walk)
Sungei Wang Plaza

RM5 per entry (after 6pm)
Distance: 500m (6-minute walk)

Wisma SPS
RM5 per entry (after 4pm)
RM4 per entry (after 5pm)
Distance: 700m (10-minute walk)

Starhill Gallery

RM7 per entry (after 6pm)
Distance: Right next to Pavilion (1-minute walk)
Menara Standard Chartered
RM5 per entry (after 5pm)
Distance: 600m (8-minute walk)
Low Yat Plaza

RM5 per entry (after 6pm)
Distance: 850m (11-minute walk)

Pavilion Kuala Lumpur
RM8 per entry (after 5pm)
Distance: 0m

Wisma Lim Foo Yong
parking in bukit bintang
RM5 per entry (after 5pm)
Distance: 850m (13-minute walk)
Menara Keck Seng
RM8 per entry (after 6pm)
Distance: 200m (3-minute walk)


Menara Standard Chartered
RM6 per entry (Saturday, after 1pm)
RM7 per entry (Sunday and public holidays)
Distance: 600m (8-minute walk)
The Sun Complex (opposite Berjaya Times Square)
RM5 per entry
Distance: 750m (11-minute walk)
Open carpark behind Kenanga International

RM4 per entry
Distance: 1km (15-minute walk)
Wisma Cosway
RM4 per entry (only for Sundays and public holidays)
Distance: 700m (9-minute walk)
Open carpark opposite Impiana Hotel
RM6 per entry
Distance: 850m (13 to 15-minute walk)
Wisma Lim Foo Yong
RM5 per entry (only for Sundays and public holidays)
Distance: 850m (13-minute walk)

*Parking rates are for your reference only and are subject to change without prior notice.
This article was first published on 18 March 2016.

Thursday, January 12, 2017

Why Knowing What Type Of Person You Are Is Critical To Your Success And Productivity

There’s an art to living in the present while putting your head down, pumping out some results, and moving with some sense of urgency to accomplish what needs to be done to succeed.
But then again, what’s success without happiness? And what are those most important parts of our happiness? The people that matter to us. If those parts of our happiness are neglected, then the accomplishment just doesn’t mean as much.
For example, being with your kids is of Level 10 importance as is having a wonderful relationship with your significant other, but so is staying healthy and fit, that new project you’re trying to launch, and, of course, making money, yes?
But just because they’re all equally important doesn’t mean we’re obligated to give them all equal time. You’re not going to be with your kids 24/7 unless you’re a stay-at-home parent or they’re a bit younger. It might be just 30 minutes of quality time you get with them during the week, or whatever. It doesn’t take 30 hours.
In terms of your significant other, let’s say Thursday is date night, probably the most effective and profound two or three hours you spend enhancing your relationship. A lot of things have to do with attention: not feeling important enough. Even if it’s for two or three quality hours, that can save a relationship.
“Okay, but what about that project? I’ve got my home business or my job, and I’m trying to write a book.” So on Wednesday afternoons from 1:00 until 5:00 work on the project.
If it’s a business project, then it’s during work time. If it’s not, then it’s a different time like the weekend or evenings. Now you don’t have to feel guilty that you’re not working on that project, or whatever it is.
All of this is to point out that people say they want to balance life. Okay, great, how’s “balancing” all of the above equally working out for you?

From my experience, the idea of “balancing” the areas of life is like an entertainer balancing tea cups and plates on sticks with every limb plus their mouths and head. This eventually means one or more things are going to come crashing down.
To avoid this kind of catastrophe, and give due focus and quality attention to all areas of life, you have to decide what kind of person you are.
Are you a consistent person or are you a burst person? Determining that determines how much you’re able to accomplish and allows you to be able to experience the other things that matter to you.
Let’s take a book project, for example. You write from 6:00 a.m. to 7:30 a.m. before you start the rest of your day, five days a week. That is a very consistent person.
I myself will not get up at 6:00 a.m. to write. It doesn’t fit for me. Every time I’ve ever written a course, a book, or anything like that and done well, I’ve gone away outside of my regular environment that had no distractions.
When I get up, I’m thinking about it already. When I take my walk, I’m thinking about it, and by the time I get back in at 8:00 or 9:00 a.m. and have my shake, my mind is just crazy with ideas; things I’ve written down on post-it notes. Then I start entering the post-it notes and bam, I’m into it. I go to sleep about midnight, and I’m back up again at 8:00 in the morning. I go again for between 12 and 15 hours per day for a few days straight like that.
In other words, it’s a burst. That’s how I operate.
Now the question is: how do you operate? Are you the kind of person that can do something every single day, a little bit every day, or are you the kind that achieves more quality work in bursts?
This important distinction can have a huge impact on your productivity, success, and most of all, your overall happiness and wellbeing!
Why? Because when you do what’s right for you, you tend to do better. You create your days with this knowledge in mind.
Need to spend time with your significant other and you’re a burst person? Book a vacation.
If you are consistent person, make sure you’re carving out something once or twice a week to connect with that person.
It’s important to know yourself. Just because ONE successful person says this is their morning routine does not mean that needs to be your morning routine.
The goal is to make a decision whatever it might be and just stay persistent with it.
When you do, you’ll see much better results in your life.
Share an experience you have in realizing your mode of accomplishing things and what kind of impact that has had on your success and the other areas of your life.
How do you best function? Morning person or night-bird? Absolute quiet or music in background? Library or coffee shop? How has this discovery impacted your health? Your relationships?
Share your experiences with us in the comments below!

Here’s One Of My Top Secrets To Living A Truly Amazing Life

When I was young, I was pretty decent at golf. I lived right across the street from a driving range and got my first set of clubs when I was 13 years old. I got to play golf literally all the time when I wasn’t in school.
But when I turned about 17-years old, I developed something called a slice where the ball really curves to the right, and I couldn’t correct it, so I started getting less involved in golf. Once I got out of school life took over, and I didn’t play for years and years.

I got back into it about 20 years ago, but I haven’t been nearly as good as when I was 13. So no, not everything is like “riding a bike”. I’ve taken lessons, I’ve gotten better, more expensive clubs, but I still end up slicing every time.
Why am I bringing this up? Well, I just came from hitting some golf balls on the range, and I started slicing again. It was not very pretty, and in retrospect, I couldn’t believe how down on myself I was getting about it.
Me! Mr. Personal Development…the guy who knows better than to let something like that matter because, hell, by most measures, I feel great about myself, my business, my relationships, my mission and purpose. Life is good!

But I want to drive a point home here about money and success, something that you already know but I’m going to say anyway: money does not solve all your problems, especially in determining how you feel about yourself, whether you’re rich or poor, an achiever or not. It’s not about the money. It’s not about achievement.
It’s about that thing we can never really get rid of, but we have to keep reminding ourselves about all the time: that little gnawing creature called doubt.
“Why can’t I do this better? I should be able to do this! I should be able to be a good golfer. I play quite a bit. I’m successful at so many things, why not this?”
It’s like you know you shouldn’t attach your self-worth to anything as dumb as that, but we do anyway, yes or yes? Some people make a habit of it, and if you’ve seen any of my stuff before, you know how I feel about the power of habits.
The lesson for me now that I’d like to share with you is that even at this stage in my life, I have to practice not attaching my worthiness or esteem to the outcome of whatever I’m doing. I have to practice keeping doubt at bay, and the way to do that is to not be so attached to any of your outcomes.
I know that sounds counter-intuitive, right? “Harv, how can you not care about the outcomes? How else can you be successful?”

There’s a difference between not caring about outcomes and not being attached to them. Not caring is about ambivalence, laziness, selfishness, or plain ole fear.
Non-attachment, on the other hand, is the highest spiritual state you can attain, the closest we can ever get to inner peace with ourselves. Non-attachment is our best defense against doubt and fear.
Remember, we’re not talking about not caring about being successful with business, money or relationships. We’re talking about doing what we’re gonna do with some thought, practice, education if necessary, skill and attention for anything you want to succeed at, and seeing what happens.
It’s the classic Zen paradox: to truly be successful, you can’t attach how you feel with how successful you are.
Esteem is in being able to look at yourself and know that rich or poor, win or lose, you live with integrity. In knowing that nobody’s perfect, but you are doing what you promised yourself you would do regardless of the results.
It’s in knowing that you can trust yourself, and that other people who are relying on you can trust you, too.
It’s not about doing these things 100% of the time. Esteem is an inner confidence, a peace of mind in gratitude for the good that is in your life right here and now; in faith that doesn’t need guarantees of success; in the self that–as best it can–remains unattached to outcomes so it can enjoy the here and now for what it is, but with an eye on an even more prosperous future.
What attachments in your life drive you crazy and how do you get over them? Share with us! We want to hear from you!