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Showing posts with label Income. Show all posts
Showing posts with label Income. Show all posts

Sunday, March 31, 2019

Five challenges young Malaysians face with home ownership


For many young Malaysians, the road to owning a home is riddled with speed bumps. — Pexels

PETALING JAYA, Feb 26 — Most would agree that you truly reach adulthood the moment you own your own property.

Just like any other major milestone in life, getting there comes with its own set of challenges that many young Malaysians have to overcome before they can successfully purchase a home.

Here are five hurdles Malaysian millennials might encounter on the path towards home ownership:

1. Worrying about making the wrong choice, when is the ‘right’ time to buy?

 Purchasing a home can be a major decision that many Malaysian youths feel overwhelmed by. — Pexels pic
Purchasing a home can be a major decision that many Malaysian youths feel overwhelmed by. — Pexels pic

Making the decision to buy a piece of property is a huge step that young locals aren’t quite brave enough to take yet.

Social news website SAYS’ 2019 Malaysian Home Survey among 8,568 Malaysians reports that one in five respondents had “(worries) about making the wrong decision”, especially since home ownership requires a hefty financial investment.

2. Unsure about loan application and loan rejections.

Do you have enough saved up for a home in the future? — Pexels pic
Pexels pic Do you have enough saved up for a home in the future? — Pexels pic

A difficult loan approval process is a huge factor that dampens many Malaysians’ prospects of owning a home.

PropertyGuru’s Consumer Sentiment Survey in 2017 states that 33 per cent of Malaysians reported a tough approval process for bank loan applications which presents a major roadblock on the path to home ownership.

3. Starter salaries, not enough money saved for a downpayment.

The average Malaysian needs to plan carefully if they want to own a house with their current salary. — Reuters pic
The average Malaysian needs to plan carefully if they want to own a house with their current salary. — Reuters pic

The thought of dealing with a mortgage on the salary of a fresh graduate is making many millenials think twice about owning a house.

The Employee's Provident Fund statement in 2016 had said that 89 per cent of the working population in Malaysia earn less than RM5,000 monthly, making home ownership especially challenging.

Most millenials wouldn’t believe that they could own a house with that salary.

4. Renting or owning?


It’s not easy maintaining a modern lifestyle when you’ve got a mortgage weighing on your shoulders. — Unsplash pic
  It’s not easy maintaining a modern lifestyle when you’ve got a mortgage weighing on your shoulders. — Unsplash pic

The hefty financial commitment to owning a home means young Malaysians will have to make some lifestyle changes if they want to stay afloat while having a house to their name.

This might mean foregoing luxuries such as weekend brunches and holidays overseas which have become staples for the modern generation.

Hence, a monthly instalment replacing these pleasures is the reason 33% of Malaysians in SAYS’ survey are saying ‘no’ to home ownership.  

5. Lack of awareness on housing deals and promotions.


Housing deals and offers don’t seem to be showing up on the radars of young Malaysians. — Unsplash pic
Housing deals and offers don’t seem to be showing up on the radars of young Malaysians. — Unsplash pic

While initiatives are in place to help young potential homeowners, many do not even know about the resources available to them that can ease the burden of property ownership.

A shocking 65 per cent of Malaysians in SAYS’ survey said that they had no clue about current housing offers and promotions.

This means that many young adults are currently unequipped with knowledge about navigating the property market.

In light of this, property developers EcoWorld have launched HOPE (Home Ownership Programme with EcoWorld), a comprehensive solution that promises to aid young Malaysians in their journey towards owning their dream home.

HOPE aims to make the dream of home ownership a full-fledged reality for millennials with the STAY2OWN (S2O) and HELP2OWN (H2O) programmes.

S2O will allow those wanting to stay in an EcoWorld project to rent their ideal home first with the confidence that they can become homeowners in the future.

A low monthly payment similar to the market rental rate also makes it particularly attractive for first-time homebuyers.

The option to rent first before buying also gives customers ample time to get their finances in order before committing to a new mortgage.

To top it all off, the rental savings will be used to offset part of the purchase price of the home, making it even more affordable for young Malaysians.

The H2O had successfully helped approximately 1,800 young homeowners and upgraders own their choice EcoWorld home last year and you can be one of them too! For more information on owning your dream home, visit EcoWorld’s website (https://ecoworld.my/hope/) or Facebook (https://www.facebook.com/EcoWorldGroup/).

By Tan Mei Zi The Malay Mail

* This article is brought to you by EcoWorld. https://ecoworld.my/hope/


A NEW HOPE FOR YOUR DREAM HOME


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Wednesday, March 13, 2019

Risky business of overseas ‘jobs’ , Don’t get conned, Malaysians warned !

The promise of lucrative salaries are luring many Malaysians abroad but most are scams leaving these job seekers cheated and in need of rescuing.

The promise of lucrative salaries are luring many Malaysians abroad but most are scams leaving these job seekers cheated and in need of rescuing.

IT is ironic that at the same time there is an ongoing crackdown on illegal immigrants in the country, Malaysians are being detained in countries like Cambodia, South Korea and even Liberia.

These detentions have increased in frequency to the extent that Wisma Putra has issued a warning to “remind all Malaysians to be cautious of opportunities offered in foreign countries, and always verify the prospective employers”.

It used to be that foreigners (read: South Asians and South-East Asians) were drawn to Malaysia’s booming property and service sectors for better paying jobs.

They still are. On Monday, as part of operations codenamed Ops Mega 3.0, some 73 illegal immigrants, from Bangladesh, Indonesia, India, Pakistan, Sri Lanka and Myanmar, were held by the police under the Immigration Act. These foreigners were working at the Selangor wholesale market without proper work documents.

But how times have changed. The roles appear to be reversed, the Malaysians that have been detained overseas were for exactly similar offences – no proper work documents.

This time last year, The Star’s Bahasa Malaysia news portal mStar Online revealed that there was an estimated 5,000 Malaysians working and staying illegally in South Korea. The less fortunate ones were forced to live like refugees, always on the run from the authorities.

These Malaysians were lured by job advertisements that claimed they could earn a lucrative living in the land of K-pop. They paid recruitment agents thousands of ringgit in fees and entered South Korea with tourist visas.

Some of these Malaysians interviewed by mStar spoke about the hardships they faced including poor living conditions, tough working environment and employers holding back their salaries.

The Korean police and its justice ministry have begun cracking down on these illegals, starting from last month. Those without proper documentation will be immediately deported.

But Malaysians never learn. Two recent cases highlight the need for employees to be more vigilant and for the authorities to crack down on fly-by-night recruitment agents.

First, the case of the 47 Sarawa­kians who were detained in Cambo­dia since Dec 11 last year on charges of cheating and initiating and carrying out illegal online gambling activities.

It was reported that the Malay­sians were promised jobs with lucrative salaries up to US$1,500 (RM6,100), and only found out that it was a scam when they arrived in Cambodia.

Their plight was highlighted in local media, and Wisma Putra, other leaders and representatives from Sarawak flew to Cambodia to secure their release. They were finally released on Feb 15.

The second recent case also involved Sarawakians. Eight of them were left stranded in Monro­via, Liberia, since Feb 4 after being offered logging jobs with wages up to RM9,000.

They were left stranded in the African nation without any money, and managed to survive because they were given rice by Malaysians working with Sime Darby in Liberia.

“If not for the rice, we would definitely be dead,” said Aji Surau, 39, after arriving at KL International Airport on March 4, one month after their ordeal.

He said they were abandoned in a house with no water and electricity and even resorted to eating papaya leaves to survive.

All these cases have one thing in common – dodgy job syndicates.

These unscrupulous agents rake in thousands of ringgit by promising the world to gullible locals.

“I want to advise Malaysians to be cautious when getting job offers overseas because this is not the first such incident.

“Check with the authorities concerned, especially the Malaysian representatives, whether the company offering the job is legitimate or not,” Foreign Minister Saifuddin Abdullah told reporters after the Liberian detainees were released.

The Cambodia and Liberia incidences appear to be genuine cases of people who were promised legitimate work contracts. But for every genuine case, there are five others who play the “victim” card.

In some countries where Malay­sians are caught working illegally, they claimed that they were lured there with guarantees of proper employment with legal documentation. But the reality is that these people went overseas on tourist visas with the sole intention of getting a job, by whatever means.

Did you know that Malaysians are the worst visa abusers when it comes to overstaying in Australia?

According to a 2018 report from the Australian Department of Home Affairs, there were 62,000 people overstaying their visas and living illegally in Australia, with Malay­sians making up the largest number. Between 2016 and 2017 alone, 10,000 Malaysians had overstayed!

As a result of this blatant abuse of tourist visas, the Australian authorities have made it harder for Malaysians to enter the country.

Australian-based news site news.com.au quoted a source from the Malaysian mission in Australia as saying that more Malaysians are being turned away at the airports, despite having the necessary visas approved before departure.

These visa scams are not only giving us a bad name, but also making it more difficult for genuine Malay­sian tourists to visit Australia.

The latest “tourist” scam is via social media where syndicates are luring people to become drug mules by offering them cash and opportunities to go for tours abroad. But beware, if you’re caught deportation is the least of your problems. A stiff jail sentence or even the death penalty awaits.

Brian Martin

Brian Martin

Brian Martin, executive editor of The Star, would like to come clean. He has vested interest in the proposed assessment rate hike since he’s a resident of Kuala Lumpur.



Don’t get conned, Malaysians warned

 Labour Dept: Only use services of licensed private recruitment companies

From “interviews” in coffeeshops to being persuaded to work in war-torn countries with lucrative salaries, Malaysians are being increasingly conned into travelling to work overseas, only to run into trouble.

This has prompted the Labour Department to advise those wishing to work overseas to only use the services of licensed private recruitment companies.

Seeking the services of licensed private job agencies under the Labour Department as provided in the Private Employment Agencies Act (1981) would help one avoid being conned or exploited by unscrupulous agents or employers overseas, it said.

“There’s a possibility that high salaries offered has become a pull factor in enticing Malaysians to work overseas.

“The Labour Department is always carrying out enforcement activities under the Private Employment Agencies Act (1981) to monitor the activities of illegitimate agencies and agents,” it said in response to questions by The Star.

The Labour Department, which is under the Human Resources Minis­try, was responding to queries about the increasing media reports highlighting Malaysians being conned in overseas jobs.

While the Labour Department said it did not have any records on the numbers of overseas job scam cases affecting Malaysians, it encou­rages those with information on such cases to come forward.

“We have not received reports on job scams. However, victims can file a report with the Labour Department, including in Sabah and Sarawak for any job scams issues so that we can act accordingly,” it said.

MCA Public Services and Com­plaints Department head Datuk Seri Michael Chong said many of the job scam victims he encountered were enticed to work in Afri­can or Middle Eastern countries.

“Many of these countries are war-torn and so these ‘employment agents’ would tell the victims there is a lot of construction work to rebuild the country.

“These victims are mostly semi-skilled or unskilled workers who are attracted to the salaries which are supposedly from RM6,000 to RM10,000 a month,” he said.

However, he said, these victims were then cheated out of their salaries and left with little to no protection in a foreign country.

To stop these scams from occurring, he urged those interested to find work to carry out background checks on the company.

“You must make sure that there is an incorporated company so if anything happened to you, there is a company we could look for,” he said.

He also advised people to be wary if the salary offered is too good to be true, or if the job interview doesn’t take place in the company’s office.

“There are some ‘interviews’ which are even being conducted in coffeeshops,” said Chong.

He said he noticed more of such cases in recent years, especially as many Malaysians want to go overseas to eke out a livelihood.

Last December, 47 Malaysians were detained in Cambodia for being involved in illegal online gambling activities.

It was reported that they were offered jobs with lucrative salaries but had only found out that it was a scam when they arrived in Cam­bo­dia.

In February, eight Sarawakians were stranded in Liberia after allegedly being cheated by an employment syndicate.

The Malaysian Em­­ployers Fede­ration called for a dedicated government agency to help protect the welfare of Malaysians who go overseas to work.

Its executive director Datuk Sham­suddin Bardan said this was to prevent them from being exploited and falling prey to illegal job syndicates.

“We have more than one million Malaysians working overseas but we have no proper body to monitor their affairs,” he said yesterday.

He noted that the Filippine government would ensure that their citizens who are sent overseas to work are properly trained and that they are employed by a legitimate company.

“The Filipino government would ensure that there is a proper document signed between the employer and agent, and if anything happens to the worker, the agent will be held responsible.

“We should emulate the Philip­pines to help our workers who aspire to work overseas,” he said.

However, he said the grim reality was that many Malaysian workers were enticed to work overseas because of the attractive pay, even if the details surrounding the employment were unclear.

“Employees are attracted to the higher wages offered in those countries, where the income promised triple or even quadruple what they are earning in Malaysia – and most of these jobs do not require high level of skills such as picking fruit.

“A difficult economic situation in Malaysia with the rising costs of living also contribute to the problem.

“We must re-look at our employment practices, how we remunerate our employees and develop our talent,” he said.

Malaysian Trades Union Congress secretary-general J. Solomon agreed that better policies and enforcement were needed to monitor the outflow of Malaysian workers to other countries.

“The authorities and their relevant agencies need to know where Malaysian workers are going when they travel overseas,” he said.

He said tighter enforcement was especially needed as more false job advertisements were disseminated easily on various social media platforms.

“It is high time the Cabinet review and encourage companies to comply with minimum wage level,” he said.

The low wages in Malaysia and the stigma of 3D (dirty, dangerous and difficult) jobs cause Malaysians to desperately seek employment outside the country, he added.

“These factors are causing Malay­sians to go elsewhere to find alternative sources of income,” he said.

By Fatimah zainal and Clarissa Chung The Star


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Monday, December 3, 2018

Salary hike prospects ‘bleak’



THE Malaysian Employers Fund (MEF) announced its findings of four latest publications for 2018. The publications focus on the forecast of salary increases and bonuses for 2019. The outlook was “bleak”, according to the survey due to the global recession, increasing social costs and political uncertainties following GE14 which were among factors influencing the employers’ cautious attitude.

A few incentives were placed into the labour structure of the companies surveyed including productivity linked wage system (PLWS) and the Discrimination Reporting Procedure.

About 90% of companies and more indicated that the main reasons that they implemented PLWS was to reward good employees followed by aiming to improve productivity (which more than 80% responded) and to motivate average employees (more than 70%).

The findings also focused on the types of leaves provided where all participating companies provided annual leave and sick leave for top/senior managers, managers, execu- tives and non-executives.

The average total hours of total working hours per week for top/senior managers and managers were considered where they worked 41 hours compared to the executives where the average total working hours per week was 42 hours. In the case of non-executives the average total working hours was 43 hours.

About 42.5% of respondent companies implemented flexible working hours at the workplace. With implementation of flexible work arrangements 82.4% of the respondent companies indicated that there was increased employees’ engagement, commitment and satisfaction, quality of work and quantity of output (62.7%) and the company’s ability to retain talent (62.7%).

The survey for executives and non-executives were participated by 242 companies from manufacturing and non-manufacturing sectors. The executive report covered 160 benchmark positions of 14330 executives while the non-executives report covered 324654 non executives with 109 benchmark positions. - The Star

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Friday, February 24, 2017

Investing in property to let may not be a good idea



Buying to rent may not be a good idea


RENTING out a house or apartment used to be a source of income that would help to pay back the loan instalment or increase one’s available income.

Today, this is no longer a good idea, particularly for those whose income is just enough to meet their needs in the near- or short-term. This is because many people have become less honest.

Those who buy a property with the idea of renting it out may find themselves dealing with a delinquent tenant. To illustrate the situation, I reproduce part of a letter from a reader who is having sleepless nights.

“I have rented an apartment to a Bangladeshi family for a monthly rent of RM900 for several years without a written tenancy agreement. The rental payment went on smoothly until roughly nine months ago, when the tenant started delaying payment of both rental and water.

The rental and water payment was owed several months. Every time he said he would pay, but ended up not paying. He now owes me more than three months rent and more than six months water and has refused to move out, saying he needs time to find a place.

What can I do to get him out, if he continues staying without payment? People have advised me to lodge a police report and get the Rela to forcibly move him out. Is it legal to cut off the water and/or force the tenant out?”

To start with, it is legally wrong to disconnect the electricity or water. Once rented out, the tenant acquires a special kind of right to be on the premises.

A breach by him allows the landlord to terminate the tenancy. Thereafter the tenant becomes liable to pay double rent. The landlord should get a court order to evict him. I don’t think making a police report or approaching Rela will help.

This does not go very far in hel­ping the reader, but what I have to say could help readers who are renting out their property of the type referred to, or who are planning to do so.

Such a person should consider carefully whether he has sufficient spare funds if he is taking a loan. If he is a cash buyer or has resources to pay the instalments then it is fine.

This is because rent will not roll in immediately once the property is ready. There will be a need to spend time and money on putting in some basic fixtures. Time may be required to find a tenant.

In the meantime, the loan instalments will become payable and if he is unable to pay, these will add up and attract penalty interest, increasing the amount of the loan. There will be an added problem if the tenant is only able to pay rent which is less than the instalment.

So what could a landlord do to safeguard himself? The landlord should have a written agreement, and should require at least three months’ deposit at the outset and one month’s rental in advance, with the rental to be paid on or before the seventh day of each month, if not earlier.

Breach of these requirements would entitle the landlord to terminate the tenancy forthwith and require vacant possession.

Once the landlord has put himself in this position, he must monitor the payment of the rent. The tenant may pay late, but the landlord must not keep quiet. When there is a delay in payment but he pays within the month, you must give him a warning that the late payment is a breach.

The need to do this every month is important, because if the landlord allows the tenant to do this repeatedly, the law may regard this as acquiescence and a waiver by the landlord of the obligation to pay on the stipulated date.

If the tenant has not paid for two months the landlord should, by the middle of the second month, terminate tenancy and ask him to vacate the premises. At this stage the landlord has one and half month’s deposit, which allows him to have time to take meaningful action against the Tenant.

Chances are that if the landlord proceeds with such promptness, the tenant will come forward and resolve the matter.

As a term for allowing the tenant to stay on, the landlord could require the tenant to pay the legal costs. In such an event, the tenant would in future pay the rent regularly or he would leave, allowing the landlord to let the premises to another tenant.

Going to court can be costly, but the landlord should not just give up. He should approach a lawyer who can help him with the problem. Not all lawyers are out to make big profits from every client. Some lawyers will even do it for a very low fee, just to help the tenant.

Going to court will look harsh and is something that the owner may not like to do. This is because, at the point of renting, tenants project themselves as very decent and nice people who have every intention of paying the rent promptly. The issue here is: does the owner want his rent to be paid?

If the owner wants to be kind, then the tenant is likely to take advantage of him and drag on the non-payment. Of course, if the landlord is so inclined, he must be prepared to pay the price for being nice.

Law For Everyone By Bhag Singh The star

Any comments or suggestions for points of discussion can be sent to mavico7@yahoo.com. The views expressed here are entirely the writer’s own.

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Sunday, October 9, 2016

Malaysia's jobless rate on the rise as economic expansion slows


Unemployment in Malaysia is rising, the latest data released by the Statistics Department show.

The obvious correlation to the rise in the jobless rate, which in Malaysia is counted as those who are unemployed but remain actively looking for a job, is the slower pace of economic growth.

The economy, up until the second quarter ended June 30, has slowed for five quarters in a row with weak exports the main drag on growth.

Although private consumption and investments supported the economy in the second quarter, economists are not very confident that this will drive growth in the coming quarters without supportive government policies and improvement in overseas consumer demand.

This will have implications for jobs and the economy.

There could be reason for short-term cheer with data exceeding expectations, as August trade data released yesterday show but there are indications that downside risks remain.

Positive sentiments as reflected in the Malaysian Institute of Economic Research’s (Mier) business conditions index, which is now above the 100-point threshold, indicating that businesses’ confidence levels are up, can just as easily dissipate.

Consumers do not share the same sentiments as businesses, as the Mier’s consumer sentiments index show.

Although rising steadily since the beginning of the year, the index is still below the 100-point threshold, largely reflecting benign inflation and the fading impact of the goods and services tax implemented last year.

Standard Chartered plc Asean economic research head Edward Lee says private consumption growth momentum will not be sustainable because of the weak labour-market conditions.

Besides the higher unemployment rate, weak wage- and job-growth together with the slowdown in the property market and financial-market volatility to also affect spending sentiment.

Lee, who expects the economy to grow 3.8% this year compared to the official estimates of 4% to 4.5%, adds that the weakening labour market will be a drag on economic growth.

“Private consumption will be key to achieving this target, and we think it may come in weaker than the central bank expects due to weaker labour-market conditions.

“We will therefore monitor consumption metrics closely over the next few months,” he says.

Cautious consumer sentiment largely reflects the state of the job market and high household debt.

Different views: Consumers do not share the same sentiments as businesses, as Mier’s consumer sentiments index shows.

Data from Bank Negara and the Nikkei Malaysia manufacturing purchasing managers index (PMI) compiled by IHS Markit Ltd paint a bleaker picture.

While the September Nikkei Malaysia manufacturing PMI, which was released at the end of last month saw an improvement from August, it is still below the 50-point threshold, indicating that the manufacturing sector is still contracting.

But what is interesting is the press statement following the release of the August data, in which IHS Markit economist Amy Brownbill says the Malaysian manufacturing sector saw a sharper deterioration in operating conditions underpinned by quicker declines in output, new orders and employment with the rate of job shedding the fastest in over three years.

The August PMI report noted that firms cut back on payroll numbers as part of efforts to make cost savings.

Bank Negara report

A Bank Negara report also showed that labour market conditions have become challenging, with the recent high unemployment rates coinciding with lower job vacancies available per active job seekers.

AllianceDBS Research chief economist Manokaran Mottain said in a report released last week that while the manufacturing sector was shedding jobs, selected services subsectors has added headcount and could be cushioning job losses in the manufacturing sector.

More than half of the workforce are employed in the services sector with the manufacturing sector employing about 16%.

Further evidence of the deteriorating conditions in the job market comes from the Employees’ Provident Fund (EPF).

Manokaran says the monthly contribution value growth rate from the EPF’s members have moderated, signalling weak wage growth in recent years.

This also mirrors the slowdown in the economy over the past few quarters as businesses will not give higher increments or pay out bonuses.

Manokaran says based on trend-growth estimates, seasonally and inflation adjusted monthly EPF contribution growth has tapered to 2.7% in February on a year-on-year basis before the voluntary employees contribution rate reduction effective in March, down from around 10% growth in 2011.

He noted that while average household income grew 9.6% per annum between 2012 and 2014 in inflation adjusted terms based on the Statistics Department’s household income survey, this was largely propped up by government cash transfers (Bantuan Rakyat 1Malaysia payments) to the bottom 40% of earners.

“On average, given that 65% of household income is from paid employment, signs of wages growth moderation could weigh on household income growth going forward,” Manokaran says.

He adds that the state of labour market and income growth are among the key underlying factors in assessing the state of economic growth outlook.

Earlier this week, the World Bank slashed its growth forecast for Malaysia from 2016 to 2018 on the weak exports and commodity-price outlook. Its chief economist for the East Asia and Pacific Region, Sudhir Shetty, says despite the region’s favourable prospects, growth is vulnerable to a sharp global financial tightening, a further slowdown in world growth or a faster-than-anticipated slowdown in China.

By Fintan Ng The Star/ANN

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Saturday, August 27, 2016

Be an entrepreneur or a politician?


Let your children decide on their employment choice


Most parents in their fifties are looking at retirement options when their children starts looking for employment after their studies. There is this transition moment in our family circle of life where the baton of employment, career or business is being passed to the next generation.

The older generation after 30 years of slogging, looks forward to easier passing of days without the responsibilities and worries whilst the younger generation looks forward with optimism and high hopes of securing a good career ahead.

As an entrepreneur with businesses and investments, my natural instinct is to rope them into the family business, if any, as any typical old generation Chinese businessman will do. But I made up my mind some 7 years ago when my first born started his A Level, that my children will make their own choice whether they will prefer to seek employment elsewhere or participate in the family business. It will be their choice and decision and I will support whole heartedly whatever decisions they will make. 7 years later, I still have the same conviction.

I had this feeling that the business world and environment will be much different with all these globalization and technological advancement and the businesses that I was in will be operating in a much more competitive and disruptive world order. This has proven to be true.

The traditional brick and mortar businesses are under tremendous stress to keep up with new disruptive technologies and new business ideas.

My children will have to learn new skills and insights and they definitely will not be able to learn from my traditional family business unless I had instituted changes to my existing business to join the new business order. But I did not know how.

So it is better that they decide on their choice of employment in whatever industries they choose as long as they are working for a forward looking company who is able to embrace the new technological changes that is changing the business order across the global markets. And if they do decide later after some years of working experience to venture out as an entrepreneur, I will also support them wholeheartedly.

Assuming they are up to it, with the right attitude and skill sets.

Not everyone is capable of being a ‘successful’ entrepreneur. It is easy to start a business, call yourself a founder and entrepreneur but chances of being successful is limited to the capable few. For most cases, you are better off building a good career in a good organization rather than struggling in a small scale business for the rest of your life.

If you planned to be an entrepreneur, just make sure your business potential is scalable to a size that will earned you nett, double what you would be earning in a good job. Or else it will be a waste of time. The thrill of being your own boss wears thin over time when you are not doing well financially.

I have many friends who have done very well in their corporate careers and they seem very happy when we do meet up. They definitely look younger than me, with less stressful lines, a radiant and happy face. Compared to my aged face filled with worried lines and scars of agony suffered through the years. Was it worth it?

With the wisdom of hindsight, I am now able to advise my children on their decision making process on whether they should be a corporate suit or to go on their own. My only guidance to them is whatever choice they make, just ensure their actions are productive and contribute towards the well being of the economy. Don’t be lazy, do good where you can and be as good as you can be. Then start a family. Circle of life starts again.

The only career that I totally discouraged my children from is the job of a politician. Good politicians are hard to find nowadays. Since integrity left the politicians, good virtues and honesty followed. What is left is a shell of a conniving and corrupted politician using whatever means they can to stay in power supposedly representing the people’s interest.

All over the world, the politicians together with religious and racist bigots have caused total mayhem to our daily lives. People are divided by race, religion and skin colour. Nothing makes sense anymore. Throw in lots of money into a politician’s hands and we have absolute corruption across the ranks. Cash is king. Everybody can be bought. And I mean everybody.

What is really sad is the complete breakdown of morality and integrity of the human politician. Where he suffers no shame when he is openly corrupted. When he can sleep well even though he has done many evil things destroying the moral fabric of the society which he swore to protect. I have nothing but despise for these toxic politicians.

The few genuine politicians who stand up their grounds to all are few and far between. Eventually, they too will engulfed by the all pervasive influence of corruption.

To the younger generation joining the working community, my only advice is to pick a job that fits your personality and your skill sets. Make sure you enjoy the job. Get some proper working experience under your belt and you can evaluate your options in a more leisurely way.

You will know when there is a calling for you to become an entrepreneur. You will be unhappy with your job, your bosses irritates you, there is a burning desire that has just lighted up in your belly, a brilliant idea suddenly appeared and you feel that you are now ready to be an entrepreneur. Are you?

From experience, it takes a long time for an entrepreneur to make big fortune. If you do not have the patience, I recommend you a job that makes money faster than an entrepreneur.

Be a politician.

 Source: Tan Thiam Hock, On Your Own/Starbizweek

The writer is an entrepreneur who hopes to share his experience and insights with readers who want to take that giant leap into business but are not sure if they should.

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Saturday, October 31, 2015

China ends one-child policy, are you ready for another child?

China to allow two children for all couples


http://english.cntv.cn/2015/10/30/VIDE1446156842305273.shtml
http://english.cntv.cn/2015/10/31/VIDE1446246722803731.shtml




Dialogue 10/30/2015 One-child policy ends

Are you ready for another child?

Most young couples can provide the best learning and growth environment for only one child. When you decide to have another child, you should plan your budget in advance. If you or your parents can’t take care of your baby, you have to at least spend an extra 5000 yuan per month to hire a nanny. If the gender of your new baby is different from your first one, you have to prepare another bedroom. If you want to send your kids to study abroad, you have to save another 1 million yuan. I think most young Chinese couples cannot afford the expense.
Are you ready for another child?
A girl with her younger brother. [Photo by Wang Nina/Provided to chinadaily.com.cn]
Bcnu (US)
If you aren't terribly happy parenting one child –don’t have the second. Two is more than twice the work, there's no guaranteeing they'll share interests; they could very well fight or want to head off in completely different directions. If you find you love the second one more than the first, I don't see how that could possibly make life simple, as children are very sensitive to that sort of thing. Having a second child will also extend the number of years until your nest will be empty again.
It's very unrealistic to expect that you will love your second child if you're having trouble loving the first. My advice is to take care of yourself and take time for your love for the first child to relax and grow before even thinking about having a second child.
Are you ready for another child?
A couple with their two children in this file photo. [Photo by Li Chuanping/Asianewsphoto]
Luciana (UK)
Being a one-child family allows me to keep a good balance between my family life and my job. It gives me the joy of being a mother, but it’s not too overwhelming to the point where I don't have any time for myself or my husband. Financial barriers were also a factor in my decision. With a mortgage, and two cars, we have to be a two-income family. Having another child is financially just not an option for us.
Are you ready for another child?
The two-child policy was put into practice in early 2014 and did not lead to a baby boom in many provinces in China. [Photo by Zou Zhongpin/for China Daily]
Steven (US)
Sometimes we make some choices not because we prefer them but because we have no other choices to make. The twists and turns of life always narrow your choices or eliminate them completely. I always thought having two kids sounded perfect. But when my daughter was born with life-threatening health problems I know she would be my only kid. Raising our daughter was going to take a lot of emotional, physical, and financial resources. If I had any more children, I didn't think I could handle it.
Are you ready for another child?
He Shaodong (L) and his wife Zhou Jun show their birth certificate for a second child in Hefei, capital of east China's Anhui province, Feb. 14, 2014. [Photo/Xinhua]
William (China)
Under the one-child policy carried out in China for three decades, many kids are spoilt by their parents. The “litter emperors” have no idea of sharing and giving and many of them even become self-centered. If we have another child, the first one will learn something about responsibility, sharing and caring for others.
Are you ready for another child?
A girl poses for a photograph at a commercial area of downtown Shanghai, in this November 28, 2012. [Photo/Agencies

- China Daily