I had an amazing year.
It started out with the beginning of a new job, which would be a stepping stone to another one within the same industry. I had the fortune of meeting so many new people and learned a great deal from them, and from many aspects too. I'm finally 25, and growing old has never meant so little to me.
This year would mark the first year I officially stepped into the world of corporate finance. Given the opportunity, I wish I could have done so earlier. I think I would've made it a lot further and happier today. I've made a few big mistakes here and there. Some were repercussions of my rash decisions and some were roads to hell paved with my misguided good intentions. I've tried to make amends, and hopefully no one holds a serious grudge against me. Still, it seems that growing up may have made me more myopic. I think for myself now more than ever, and give less regard for other opinions. Ironically, I've also read more and expanded my horizon, acknowledging more possibilities and understanding many new points of view. This has simply convinced me even more that I should stand my ground and hold my own every time I am challenged. So I've grown up a little, and sometimes I still wish I hadn't.
I feel like my thoughts are more composed this year. I'm not as scattered as I was a few years back, where I would just piece in whatever I can think of just to form a sentence. I also feel like I've cemented my character somewhat, and as a result, I've set myself in a direction with more certainty. I've set a few concrete goals, and I'm already halfway there in achieving some. But I've taken on too much and not giving myself enough time to keep up.
Many people seem to think that the more we grow up, the more the blacks and whites become gray. I think it's completely the opposite. I think people just lose themselves while growing up, because we were taught the blacks and whites , the rights and wrongs, and the do's and don'ts since we were young and they should have never left us. Because as we grow up, we learn more, and instead of letting our learning muddle and confuse our character, we should let it reinforce our hearts and minds. Saying "it's complicated" is just an excuse for being ignorant, indecisive, or weak.
On another note, as I venture further into the unfamiliar grounds of this world, I've left the roads I've trodden untouched, as many of us inevitably do while moving forward in life. For better or worse, it has happened. We've all grown apart, and as much as I still cherish and hold these bonds and banes (yes, they all matter) close to my heart, I've got to keep moving, and can only pray that these paths cross again.
This wrong mind thinks that the right heart it's stuck with, may not have been right after all
Saturday, December 25, 2010
Thursday, December 2, 2010
The Next 10 Years In Hindsight
A good friend posted something on Facebook, mentioning the end of the decade, and shot me back 10 years from today.
10 years ago, if memory serves me well, which it rarely does, it was the end of days of the PMR examinations, which could spell a few choice outcomes for not-so-typical teenage boys in a recession ridden family, like me. There would be: cost-free entertainment, wallowing in remorse for underpreparation, or just basking in the lull that was the school holidays. I chose the entertainment. There was Blackjack, Chess, Paper RPGs, Conquer, UNO and simply chatter. All this in the almost barren classrooms of the morning. This was because everyone was either out playing truant, or simply missing the days since attendance didn't matter anymore. I can still remember the cool air circulated by the fans and fellow classmates would just be going through the motions for the day. Some would be catching some extra winks, some had a good book to occupy them, and the rest, like me, just wanted to waste away.
Not too long from then, we would be getting counselling sessions and taking personality tests to profile us into who we are today. Though, the silly intellectuals that designed these tests made the dumbest assumption of all: That the rebellious teenagers taking the test would do so seriously. Perhaps the most open ended question of all during the time was the most popular one - How do you see your self X years from today? I'm pretty sure X was 10 or 5. But we were told to look as far into our crystal ball heads as we could.
I confess, 10 years ago, I didn't give a crap about 10 years later. I just wanted to get the test done and eat Ma's homemade Ham & Cheese sandwich during recess. At best, I thought that I'd be in a game developers' room or a programmer of sorts, because I was IT inclined at the time. Being a geek was easier and cheaper for me than...say, hanging out at Coffee Bean or going out to the mall/movies. Then again, I spent heaps on Pokemon too. I bet the 14 year old me would look at myself now and think... meh.
But enough about me. Let's talk about stuff that's more interesting.
Remember year 2000. Y2K. The hoax.
Remember KLCC and the skybridge that opened to the public then.
Remember Crouching Tiger, Hidden Dragon! Charlie's Angels! and the X-Men!
Remember the phenomenon that was Napster? or MSN? Which of them lasted? ;)
Remember the birth of the PlayStation 2? and Tekken that came with it? How about Pokemon Gold/Silver for you handheld fans?
PC games deserve a section of it's own.. Diablo II, Icewind Dale... and not forgetting, Counter Strike!
Oh and do you remember the rage that was Eminem? Britney? BSB? N'Sync? Madonna? Destiny's Child?And we're still singing along to them today!
So there, 10 years ago, that was life. The years in between got better, but this is about 10 years ago. What about you? What was your year 2000 like? I'm sure you remember more, and different. I just picked some of my fanciest memories. Some I know may remember which cars were out then... I think the Waja was one of them. Some may remember consumer prices and how they kept rising. Some had cellphones by then already, but I got mine later.
It feels good to reminisce, and now it feels strange that I can actually say '10 years ago...' without giggling thereafter.
Take it easy, y'all.
10 years ago, if memory serves me well, which it rarely does, it was the end of days of the PMR examinations, which could spell a few choice outcomes for not-so-typical teenage boys in a recession ridden family, like me. There would be: cost-free entertainment, wallowing in remorse for underpreparation, or just basking in the lull that was the school holidays. I chose the entertainment. There was Blackjack, Chess, Paper RPGs, Conquer, UNO and simply chatter. All this in the almost barren classrooms of the morning. This was because everyone was either out playing truant, or simply missing the days since attendance didn't matter anymore. I can still remember the cool air circulated by the fans and fellow classmates would just be going through the motions for the day. Some would be catching some extra winks, some had a good book to occupy them, and the rest, like me, just wanted to waste away.
Not too long from then, we would be getting counselling sessions and taking personality tests to profile us into who we are today. Though, the silly intellectuals that designed these tests made the dumbest assumption of all: That the rebellious teenagers taking the test would do so seriously. Perhaps the most open ended question of all during the time was the most popular one - How do you see your self X years from today? I'm pretty sure X was 10 or 5. But we were told to look as far into our crystal ball heads as we could.
I confess, 10 years ago, I didn't give a crap about 10 years later. I just wanted to get the test done and eat Ma's homemade Ham & Cheese sandwich during recess. At best, I thought that I'd be in a game developers' room or a programmer of sorts, because I was IT inclined at the time. Being a geek was easier and cheaper for me than...say, hanging out at Coffee Bean or going out to the mall/movies. Then again, I spent heaps on Pokemon too. I bet the 14 year old me would look at myself now and think... meh.
But enough about me. Let's talk about stuff that's more interesting.
Remember year 2000. Y2K. The hoax.
Remember KLCC and the skybridge that opened to the public then.
Remember Crouching Tiger, Hidden Dragon! Charlie's Angels! and the X-Men!
Remember the phenomenon that was Napster? or MSN? Which of them lasted? ;)
Remember the birth of the PlayStation 2? and Tekken that came with it? How about Pokemon Gold/Silver for you handheld fans?
PC games deserve a section of it's own.. Diablo II, Icewind Dale... and not forgetting, Counter Strike!
Oh and do you remember the rage that was Eminem? Britney? BSB? N'Sync? Madonna? Destiny's Child?And we're still singing along to them today!
So there, 10 years ago, that was life. The years in between got better, but this is about 10 years ago. What about you? What was your year 2000 like? I'm sure you remember more, and different. I just picked some of my fanciest memories. Some I know may remember which cars were out then... I think the Waja was one of them. Some may remember consumer prices and how they kept rising. Some had cellphones by then already, but I got mine later.
It feels good to reminisce, and now it feels strange that I can actually say '10 years ago...' without giggling thereafter.
Take it easy, y'all.
Sunday, November 28, 2010
The Ujrah-nization of PTPTN Loans
This is for all you diligent people whom, like me, are faithfully paying off your debts on time.
PTPTN had recently announced an update on its plan to convert the existing 3% to 5% administrative charge (better known as 'interest rate') study loans to 1% repayment schemes based on the islamic finance concept of "Ujrah". Safe to say, I will not elaborate, because you are not interested. You are interested in the money you need to repay your dear government, the goody2shoes that you are, and that, my friend, you will get.
The public and the media have all placed emphasis on the interest rate differential and there has been heavy traffic on http://www.ptptn.gov.my due to the torrents of former students applying for this conversion. All this, without truly understanding what the conversion is really about. With that said, let's get down to the nitty-gritty. You will want to know if you really are better off Ujrah-nizing your loan.
To begin, let's lay out the conditions that set the basis for the loan conversion (despite it being on their FAQ in their website ( http://www.ptptn.gov.my/gateway/docs/FAQ-UJRAH2.pdf ), i know you won't want to read it in Bahasa Melayu, all you urbanised bas3rds):
1. Eligibility: For those who have an existing loan balance as at 1 June 2008, with the exception of those who have had legal action taken against them with respect to the loan, and those who have breached the loan terms and conditions in any way. So, again, this is for you diligent loan payers.
2. Interest: Calculated based on: Loan balance as at 1 June 2008 X 1% Ujrah payment X Tenure (years)
That's all you are told in their current website, but is that all you need to know? The rest of the info in PTPTN's existing FAQ pertains to some obvious technicalities to which answers make sense (a.k.a. no-brainers, go see for yourself.)
Firstly, if you have any inclination towards finance OR you've bought a car and bothered to understand your repayment schedule, you'll notice that the interest is calculated as a lump sum amount based on a backdated balance. In other words, your PTPTN Loan, which is a reducing balance loan per se, like a housing loan/mortgage, is now being converted into a hire purchase.
Secondly, the calculation provides one multiplier based on tenure. What tenure?!
A little digging reveals the old 'pekeliling' (better known as a circular) that PTPTN had issued in 2008 detailing the Ujrah-nizing somewhat. Before you ask: Yes. This started in 2008. It has yet to be implemented. Hence my earlier reference to this shenanigan as an update. The link to the circular is here ( http://www.ptptn.gov.my/docs/Pekeliling/2-2008.pdf ).
Tenure is based on the remainder of your existing loan's tenure. Unless you're applying for a loan then it's based on a schedule.
Alright, with the facts down, We get to the numbers. Let's just use mine for example:
My tenure starts from 1 December 2007. As at 1 June 2008, that leaves me with 173/180 months left. The balance I have on 1 June 2008 is RM38,031.29. At this rate, my repayment rate is RM271.06 per month.
With the Ujrah conversion, my new balance, including the lump sum Ujrah of 1%/12 X 173 X RM38,031.29 = RM5,428.84, is RM43,514.13, and translates to RM251.53 per monthly repayment.
Save RM19.53 per month? Hell YEA! for 173 months, that's RM3,379.20! w00t!
But... is it better, really?
Within the next 24 months, I envision myself earning at least double of what I do now. So I plan to make higher repayments then. Per the old loan schedule, this will reduce the principal and in turn, the future interest charged. But per Ujrah, it doesn't matter if I make the payments earlier or later. I pay the same amount of interest anyway.
.....bah I just explained the main difference between a hire purchase loan and a housing loan.
But this is for the benefit of ex-students, and those who don't understand.
Bottom line, if you're sticking to the schedule or if you're dragging, you'll be better off with the conversion. Capische?
PTPTN had recently announced an update on its plan to convert the existing 3% to 5% administrative charge (better known as 'interest rate') study loans to 1% repayment schemes based on the islamic finance concept of "Ujrah". Safe to say, I will not elaborate, because you are not interested. You are interested in the money you need to repay your dear government, the goody2shoes that you are, and that, my friend, you will get.
The public and the media have all placed emphasis on the interest rate differential and there has been heavy traffic on http://www.ptptn.gov.my due to the torrents of former students applying for this conversion. All this, without truly understanding what the conversion is really about. With that said, let's get down to the nitty-gritty. You will want to know if you really are better off Ujrah-nizing your loan.
To begin, let's lay out the conditions that set the basis for the loan conversion (despite it being on their FAQ in their website ( http://www.ptptn.gov.my/gateway/docs/FAQ-UJRAH2.pdf ), i know you won't want to read it in Bahasa Melayu, all you urbanised bas3rds):
1. Eligibility: For those who have an existing loan balance as at 1 June 2008, with the exception of those who have had legal action taken against them with respect to the loan, and those who have breached the loan terms and conditions in any way. So, again, this is for you diligent loan payers.
2. Interest: Calculated based on: Loan balance as at 1 June 2008 X 1% Ujrah payment X Tenure (years)
That's all you are told in their current website, but is that all you need to know? The rest of the info in PTPTN's existing FAQ pertains to some obvious technicalities to which answers make sense (a.k.a. no-brainers, go see for yourself.)
Firstly, if you have any inclination towards finance OR you've bought a car and bothered to understand your repayment schedule, you'll notice that the interest is calculated as a lump sum amount based on a backdated balance. In other words, your PTPTN Loan, which is a reducing balance loan per se, like a housing loan/mortgage, is now being converted into a hire purchase.
Secondly, the calculation provides one multiplier based on tenure. What tenure?!
A little digging reveals the old 'pekeliling' (better known as a circular) that PTPTN had issued in 2008 detailing the Ujrah-nizing somewhat. Before you ask: Yes. This started in 2008. It has yet to be implemented. Hence my earlier reference to this shenanigan as an update. The link to the circular is here ( http://www.ptptn.gov.my/docs/Pekeliling/2-2008.pdf ).
Tenure is based on the remainder of your existing loan's tenure. Unless you're applying for a loan then it's based on a schedule.
Alright, with the facts down, We get to the numbers. Let's just use mine for example:
My tenure starts from 1 December 2007. As at 1 June 2008, that leaves me with 173/180 months left. The balance I have on 1 June 2008 is RM38,031.29. At this rate, my repayment rate is RM271.06 per month.
With the Ujrah conversion, my new balance, including the lump sum Ujrah of 1%/12 X 173 X RM38,031.29 = RM5,428.84, is RM43,514.13, and translates to RM251.53 per monthly repayment.
Save RM19.53 per month? Hell YEA! for 173 months, that's RM3,379.20! w00t!
But... is it better, really?
Within the next 24 months, I envision myself earning at least double of what I do now. So I plan to make higher repayments then. Per the old loan schedule, this will reduce the principal and in turn, the future interest charged. But per Ujrah, it doesn't matter if I make the payments earlier or later. I pay the same amount of interest anyway.
.....bah I just explained the main difference between a hire purchase loan and a housing loan.
But this is for the benefit of ex-students, and those who don't understand.
Bottom line, if you're sticking to the schedule or if you're dragging, you'll be better off with the conversion. Capische?
Tuesday, November 16, 2010
Marriage In The Malaysian Chinese Culture
I've gotten to thinking: Until I was part of a wedding ceremony where I was really close to the couple, I had never felt so much as a tingle in a wedding. It came as a surprised to me. I felt moved by the vows, touched by the families and friends who gave their best wishes, and I was floored by that brief moment of silence where words could not escape a mouth in the chapel. It was a beautiful moment. Love was truly in the air, and it was a celebration etched in my heart forever.
In hindsight, I began pondering the past weddings I've attended. I would never have thought of the married couple. The entire process would be just that - a process. The courtesies would be extended. The tables would be filled; Glasses raised and toasted to a proverbial eternity. Hundreds of people from families extended to the third degree will worship you for a day and be done with it, looking forward to the next. I can't help but wonder what the whole point of it all is, because I just don't feel the love.
Chinese culture in dictates 4 main ceremonies: The proposal, the pre-wedding, the wedding day, and the wedding night. In Malaysia and in such commercial/modern times, the first and last ones are ignored as it is more on superstition. There is much more practicality and celebration (which goes hand in hand with commercialisation) in the middle two ceremonies. To cut it short, the majority of the pre-wedding involves decoration and dowry, while the wedding day involves a lot of feasting and traveling. This translates to inter alia a hefty budget. Having said all that, and in the wise words of the Black Eyed Peas: Where Is The Love? Isn't that what leads to marriage in the first place?
I've heard many an explanation. Some give the excuse that the large budget is a sign of how much love you have for each other. Some say it's to let everyone know and celebrate your once-in-a-lifetime occassion. But the explanation I found most appropriate is that it's an age old tradition where in each act and item symbolically represents the commitment of the couple to each other. In our culture, we must celebrate it, and so it is imperative that it be made known to the world that a man and a woman have paired up and are now praying for a hundred children (ouch). Marriage is a celebration by itself, and in this day and age, it has become stereotypical. The love has always been there, taken for granted.
But love comes in many forms. I have witnessed quite a few. The media today has even given us a multitude of examples we have not seen, and there is much more where that came from. Yet the predominance of these ceremonies have it drilled in our thick skulls that marriage, which is by extension, love, is defined within the walls of our heritage. Now I sound like an ingrate bastard child set out to revolutionise our cultural identities. But I digress, so this brings me back to the first question: What is the point of marriage?
Me and my wrong mind think that it's simply a social milestone that's been in our heritage for heritage's sake. That said, I'm glad that I have the honour of experiencing one of the happiest marriages I've ever seen. So I conclude: It's the union that I covet, and the love that I seek. Marriage is simply an avenue of celebrating it all. I just don't see it happening for me.
Here's to your happily ever after. YUUUUMMMMMMMM-SENG!
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