Showing posts with label children. Show all posts

Saturday, May 18, 2019

How to make living more affordable?

IN my previous article I asked the question, Do you earn enough to sustain your lifestyle?

The feedback received was consistent. People told me that they worry about the situation, some even wrote in to share their concern.

A reader by the name of Yap wrote me an email about his observation after reading my article.

“I always doubt how a family with a median household income can survive in KL. Based on my calculation, there is no way a family with two children can survive in KL with RM6,275 without accumulating bad debt or spending 4.5 hours to travel on the road. Housing is one of the factors, but not the only one,” he wrote in his email.

Belanjawanku, an expenditure guide launched by the Employees Provident Fund (EPF) in early March states that a married couple with two children spend about RM6,620 per month on food, transport, housing, childcare, utilities, healthcare, etc.

However, the median household income for Malaysians in 2016 was RM5,228. While the median income of M40 group (Middle 40%) was RM6,275, which means five out of 10 households in this category received RM6,275 per month or less. This is far below the RM6,620 required for a family with two children to stay in the Klang Valley.

Another alarming fact is... Belanjawanku compiles only core living expenses without including long-term financial planning tools such as education funds or investments. The actual budget constraint can be more severe if we take them into account.

The living cost in major cities is inevitably higher than in small towns or suburb areas.

As such, when we discuss housing affordability in the cities such as Kuala Lumpur and the Klang Valley, we shouldn’t impose the same benchmark of RM300,000 as everything else is more expensive in the city. Affordable housing should benchmark against the cost of living of the area.

Based on the research for Belanjawanku, even if housing was provided for free, a household of four would still need RM5,750 to sustain their lifestyle.

The transportation cost alone is RM1,040 for a family, higher than the RM870 allocated for housing.

Therefore, if a family is looking to lower their cost of living, moving to suburb areas would allow them to have a more affordable budget.

According to a news report which quoted information from brickz.my, the housing prices in KL are five times higher than in Seremban, with median housing price of RM1mil (RM940 psf) in the KL city centre, versus RM200,000 (RM210 psf) in Seremban.

Suburbs which are nearer to KL such as Klang and Shah Alam also offer attractive housing prices with a median price of RM340,000.

For families who stay in the city centre and plan to reduce their cost of living, they can consider moving to suburbs to enjoy a better quality of life, and leverage on the improved public transportation which offer hassle-free travelling from suburbs to city centre.

Although high living cost is a concern for many Malaysians, KL is ironically found to be the cheapest city to live out of the 11 major cities in Asia, according to the 2018 Wealth Report Asia.

We are “cheaper” or ranked lower than our neighbouring cities, including Bangkok, Manila and Jakarta. KL, Manila, and Jakarta are also the most price competitive cities when it comes to the residential properties segment.

Why are we still facing the challenge of high living costs despite being the “cheapest” city in the region? The underlying factor is because of the low household income earned by most Malaysians, as the previous government failed to transit us to a higher income nation.

In his email, Yap mentioned that “I always imagine what Malaysia can be if there were no leakages. Hundreds of billions could be spent to stimulate various industries. Our GDP per capita could be close to if not similar to Singapore’s”.

That is the vision and sentiment shared by a majority of Malaysians. With the new government that promises to be more transparent and efficient, we hope that one day, we can afford to live comfortably in any city we wish to, with a higher household income.

Datuk Alan Tong has over 50 years of experience in property development. He was the World President of FIABCI International for 2005/2006 and awarded the Property Man of the Year 2010 at FIABCI Malaysia Property Award. He is also the group chairman of Bukit Kiara Properties. For feedback, please email bkp@bukitkiara.com

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Saturday, April 20, 2019

Do you earn enough to sustain your lifestyle?

DO you know how much you need to sustain your lifestyle every month? Are you living within your budget or stretching to make ends meet?

We can now gain insights with the unveiling of Belanjawanku, an Expenditure Guide for Malaysian Individuals and Families, launched by the Employees Provident Fund (EPF) in early March.

The guide offers an idea of the living costs for respective household categories. It encompasses the expenditure on basic needs and involvement in society for a reasonable standard of living in the Klang Valley.

According to Belanjawanku, a married couple with two children spend about RM6,620 per month on food, transport, housing, childcare, utilities, healthcare, personal care, annual expenses, savings, social participation and discretionary expenses.

When I read this guide together with the income statistics published by the Statistics Department, it reveals that a vast majority of Malaysians can’t afford to live in the Klang Valley.

Based on the statistics, the median household income for Malaysian households in 2016 is RM5,228, far below the RM6,620 required for a family with two children to stay in the Klang Valley.

If we take a closer look, the median income of M40 group (Middle 40%) is RM6,275, which means five out of 10 households in this category received RM6,275 per month or less. This indicates that over 60% (40% from B40 households and half of the M40 households) of Malaysian households (if they have two children) can’t afford to stay in the Klang Valley.

What went wrong in the process? Why are many households having challenges to meet the required budget?

According to Belanjawanku, a married couple with two children spent the majority of their income on food (RM1,550), followed by childcare (RM1,150) and transport (RM1,040), then only on housing (RM870) and other items.

Based on the research, even if housing was provided for free, a household of four would still need RM5,750 to sustain their lifestyle. Therefore, the common perception that only housing is expensive is not right. It is not that housing is expensive, but that everything is expensive because of inflation over the years! The value of our currency has fallen due to global money printing measures over the past decade.

Belanjawanku compiles only core living expenses without luxury items or excessive spending. It also doesn’t include long-term financial planning tools such as funds for education or investments. If the majority of Malaysian households have challenges in meeting the existing expenses listed in the guide, it poses a serious concern on their future financial prospects.

The underlying factor of this challenge is the low household income earned by Malaysians. The previous government failed to move us to a high income nation as they had promised, and more families are stretching to make ends meet now. It may lead to serious financial problems in the future.

If median household incomes don’t increase, the B40 (Bottom 40%) and half of the M40 will always struggle even if housing is free, assuming that they aspire to have two children and to live in the Klang Valley.

According to Transparency International Malaysia, corruption had cost our country about 4% of its gross domestic product (GDP) value each year since 2013. Added together, this amounts to a high figure of some RM212.3bil since 2013. For 2017 alone, that figure was a whopping RM46.9bil!

Imagine what we can do with these monies if there was no leakage in the system? The previous government should have channeled the money to stimulate economic growth and increase the income of the rakyat.

Going forward, I am optimistic that the new government, with its promise of a clean and transparent government, can finally fix the leakage and focus on generating a higher income level for all Malaysian households.

Financial independence is a key factor in the overall well being of the rakyat. We need to increase household incomes to a level where families can meet their basic needs and embark on long-term financial planning, to elevate their quality of life.

Then, and only then, will housing and other living expenses finally become affordable.

By Food for thought By Alan Tong

Datuk Alan Tong has over 50 years of experience in property development. He is the group chairman of Bukit Kiara Properties. For feedback, email bkp@bukitkiara.com

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Monday, August 13, 2018

Malaysia needs more childcare & daycare centres

https://www.thestar.com.my/news/nation/2018/08/13/malaysia-needs-more-childcare-centres-dpm-we-are-also-in-dire-need-of-qualified-workers-to-ensure-sa/
https://youtu.be/N6GSfiHN6mw

PUTRAJAYA: There is a dire need for more qualified childcare workers and registered childcare centres in the country, says Datuk Seri Dr Wan Azizah Wan Ismail.

The Deputy Prime Minister said that these shortages could adversely affect the safety and quality of care for Malaysian children.

“Data from the Welfare Department showed that up to June this year, the number of childcare workers looking after children four years and below is 16,873.

“Out of this, only 3,173 of them have the minimum qualification of a childcare course,” said Dr Wan Azizah, who is also Women, Family and Community Development Minister.

She was speaking at the launch of the National Childcare Centre Day 2018 themed “Equality” at the IOI City Mall here yesterday.

Dr Wan Azizah added that the rest of childcare workers in the country, all 13,700 or 80.19% of them, did not have the minimum qualification for the job.

She said the lack of qualified childcare workers contributed to the lack of registered childcare centres in the country.

“Calculations based on a census done by Malaysian Statistics Department showed that we need to have 38,333 registered childcare centres.

“However, the actual number at present is only 4,302,” she said.

Dr Wan Azizah said her ministry took a serious view on the safety of children at childcare centres and at the homes of childcare providers. “We are looking at the need to improve on the Child Care Centre Act and regulations on childcare centres to fit the current needs and situation,” she said.

She added that her ministry was also studying how to utilise information and communication technology to be included in the childcare system in the country. The Star

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Thursday, April 19, 2018

VR gaming gears up for the mainstream

A group of gamers wearing VR headsets at Zero Latency Singapore. The VR arcade in Singapore is the latest to pop up around the world as backers of the technology seek to shake off teething problems and break into the mainstream. — AFP

Arcades seek to take virtual reality gaming mainstream

SINGAPORE: Gamers wearing headsets and wielding rifles adorned with flashing lights battle a horde of zombies, letting out the occasional terrified shriek.

The virtual reality arcade in Singapore is part of a wave of such venues being opened as backers of the technology seek to shake off teething problems and break into the mainstream.

The buzz around virtual reality (VR) gaming has seen Taiwan-based HTC, Sony and Facebook-owned Oculus VR battling to woo consumers with a range of headgear.

But it has been slow to really take off, partly due to the hefty price of top-end headsets, beginning at around US$350 (RM1,362), and the challenges in setting up complex VR systems at home.

But VR arcades, which have been springing up around the world, particularly in Asia, are now giving people the chance to try it out more easily and for a fraction of the price.

“Given the complications of at-home, PC-based VR systems, pay-per-use, location-based entertainment venues can fill the gap,” said Bryan Ma, from International Data Corporation (IDC), a consumer technology market research firm, in a recent note on the industry.

Several VR gaming companies have made forays into Singapore, seeing the ultra-modern, affluent city-state that is home to hordes of expatriates as a good fit.

The zombie fight-out was taking place at a centre where participants stalked a room with a black floor and walls.

“I did paintball before, it’s quite fun... but I think the whole scene is much more interesting here,” said Jack Backx, a 55-year-old from the Netherlands, who was playing with colleagues from the oil and gas industry on a work day out.

The location is run by VR gaming group Zero Latency, which started in Australia and has expanded to nine countries. It uses “free-roam” virtual reality – where gamers move around in large spaces and are not tethered to computers with cables.

It’s not all intense, shoot-’em-ups – VR group Virtual Room has an outlet in Singapore that transports gamers to scenarios in the prehistoric period, a medieval castle, ancient Egypt and even a lunar landing.

Asia leads the way

VR arcades have been springing up in other places. China was an early hotbed for virtual reality gaming although the industry has struggled in recent times, while they can also be found in countries across the region including Japan, Taiwan and Australia.

Many key industry milestones over the past two years have been in Asia but arcades have appeared elsewhere – London’s first one opened last year while there are also some in the United States.

Consumer spending on virtual reality hardware, software and services is expected to more than double from US$2.2bil (RM8.56bil) in 2017, to US$4.5bil (RM17.51bil) this year, according to gaming intelligence provider SuperData Research.

For the best-quality experience, it can be relatively expensive – a session in Singapore costs Sg$59 (RM175).

“The equipment here is not cheap,” said Simon Ogilvie, executive director of Tomorrow Entertainment, which runs the Zero Latency franchise in Singapore.

The industry faces huge challenges.

China offers a cautionary tale – according to IDC, VR arcades have struggled there after expanding too quickly.

There have also been warnings that improvements in home-based technology may eventually lead to VR gaming centres suffering the same fate as traditional arcades that were once filled with Pac-Man and Street Fighter machines.

“The rise and fall of coin-operated videogame arcades in the 1980s suggests that such VR arcades may eventually fade in relevance as home-based computing power and prices fall within mass consumer reach,” said the note from IDC’s Ma.

Rebecca Assice, who runs Virtual Room in Singapore, said one challenge was getting people interested in the first place as many still did not know about the arcades.

“VR is still a really new industry,” she said. “A lot of people just don’t know this sort of activity exists.” — AFP

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Monday, April 16, 2018

What parents need to know about VR ?

The hottest tech in videogames is virtual reality. Find out its potential effects on kids before buying a headset.

VR can make you think and feel things you know aren’t real. ——Dreamstime/TNS

EVERYONE who’s tried it agrees: virtual reality is mind-blowing. Once you strap on that headset, you truly believe you’re strolling on a Parisian street, careening on a roller coaster, or immersed in the human body exploring the inner workings of the oesophagus.

But for all its coolness – and its potential uses, from education to medicine – not a lot is known about how VR affects kids. Common sense Media’s new report, Virtual Reality 101: What You Need to Know About Kids and VR, co-authored by the founding director of stanford University’s virtual Human Interaction Lab, offers a first-of-its-kind overview of the expanding uses for the technology and its potential effects on kids.

Now that VR devices from inexpensive viewers to game consoles to full-scale gaming arcades are finally here – with lots more coming soon – it’s a good idea to start thinking about how to manage VR when it comes knocking at your door.

VR can make you think and feel things you know aren’t real. Other media can give you the sense of “being there” – what’s called psychological presence – but not to the extent that VR can. This unique ability is what makes it so important to understand more about the short- and long-term effects of the technology on kids. Here are some of the key findings from the report.

Even though we don’t yet have all the answers to how vR affects kids, we know enough to consider some pros and cons. And whether kids are using vR through a mobile device like Google Cardboard, on a console like the Playstation vR, on a fully tricked-out desktop rig like the Oculus Rift, or at a mall arcade, these guidelines can help you keep any vR experience your kids have safe and fun.

Pay attention to age ratings. Check the recommended age on the headset package and don’t let younger kids use products designed for older kids. The minimum age isn’t based on medical proof of adverse effects on the brain and vision, but it’s the manufacturer’s best guess as to who the product is safest for.

Choose games wisely. Because the vR game experience can be more intense than that of regular games, it’s even more important to check reviews to make sure the gameplay, the content and the subject matter are appropriate for your kid.
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Keep it safe. A few precautions: Once you have the goggles on, orient yourself to the room by touching the walls; stick to short sessions until you know how you’re affected by vR; stay seated if possible; move furniture out of the way; and have a second person as a spotter.

Pay attention to feelings – both physical and emotional. If you’re feeling sick to your stomach, dizzy, drained, or sad, angry, or anxious – give it a rest for a while.

Talk about experiences. since vR feels so real, it’s an excellent time to talk through what your kid has experienced in a game. Ask what it felt like, what the differences are between vR and regular games, and how vR helps you connect to other people’s experiences by putting you in someone else’s shoes.

Find opportunities; avoid pitfalls. Don’t let your kids play vR games that mimic experiences you wouldn’t want them to have in real life, such as using violent weapons. On the other hand, take advantage of vR that exposes kids to things they wouldn’t normally get to see, feel, and learn, such as visiting a foreign country.

Keep privacy in mind. Devices that can track your movements – including eye movements – could store that data for purposes that haven’t yet been invented. — Common sense Media/Tribune news service.

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Tuesday, January 16, 2018

Only the brave teach

Show of solidarity: Fellow teachers and unionists gathering at the Seremban magistrate court last month in support of Cikgu Azizan (centre in white).

ONE tight slap – I still vividly remember that hard, stinging smack across my cheek as my teacher flew into a fit of rage after I did something naughty as a primary school pupil at St Xavier’s Institution in Penang.

I can’t recall which teacher hit me, but there must have been more than one. They pinched my stomach and even my nipples. Many of my classmates can attest to that, even 40 years on.

There was also the occasional caning, which I felt was an act of gross injustice and, perhaps, even one of perversion on the part of our disciplinary teacher. To me, back then, he was an unfair individual, and my opinion still stands. To this day, I have no idea why I was caned and not given the chance to defend myself.

But, bless his soul, because he has passed on. Most students from back then would have forgiven him by now, for he probably knew not what he was doing.

However, one thing is certain – as far as I know, none of us returned home and complained about this disciplinary action to our parents.

Comedian Harith Iskandar always reminds his audience that if one complained to their parents, they can expect to get another tight slap that “would burn your face and send an electrifying chilling effect to all parts of your body,” and consequently, leave a lifetime’s reminder.

So, the smartest thing to do, as most older Malaysians can testify, was to keep quiet. Of course, we also warned our classmates, some of whom were our neighbors, to swear to keep things under wraps and not tell their parents about the drama at school.

The caning and slaps, by disciplinary standards, were the “final” punishments. We surely remember the use of rulers, feather dusters, belts, black board dusters and in my case, even a shoe that flew in my direction.

And I wasn’t even in the naughty boys’ category. I didn’t get into fights or was caught loitering with the bad hats after school.

As one writer, Adrian Lee Yuen Beng, wrote in Aliran: “The teachers were our ad hoc parents who taught with joy and passion, and like their predecessors, never demanded any recognition. They customarily stood at the back of the class, silently rejoicing as the students celebrated their exam success.

“We received an education steeped in tradition as mission schoolteachers took teaching seriously; it was not a mere job, but a vocation, nay, a calling.

“Our teachers were proud of their lessons and believed in their form of education. They shaped us into intellectuals, sportspersons, politicians, educators, religionists, physicians and other important societal figures.”

Fast forward to today – and it’s the total reverse. The guilty party – the student – runs home to complain to his parents.

Now, the father and mother fly into a rage and decide to confront the teacher at school the following day. What unnecessary drama!

Adding insult to injury, the parents then seek the help of a politician, who has likely been deprived of the media’s glare for a while. Then, all three confront the teacher.

Lodging a police report is, of course, the next thing they do, and to embarrass the teacher and school further, they call for a press conference.

This is modern Malaysia. Perhaps, today’s family is smaller. There are only one or two children in a family, and they are, invariably, pampered.

During my time, there were at least four or five siblings and even so, we were still regarded a small family. Dad was always too busy earning a living, trying to put food on the table, so, he was thankful that the teacher played surrogate father, at least during school hours. The lesser-educated father would have been equally respectful of teachers. After all, it’s accepted that teachers mould the character, calibre and prospects of their students.

However, the modern-day father thinks he’s smarter and earns more than the teacher, his condescending and confrontational attitude not boding well for the situation.

He probably thinks the teacher has a dead-end job or is too busy distributing business cards to pupils for after-school tuition.

But, for an old-school type like me, I find it difficult to accept news of teachers being hauled to court for purportedly hurting their students.

Honestly, don’t the police and prosecutors have better things to do than to charge these teachers who were merely trying to discipline the children – responsibilities which may have been neglected by their caregivers?

In December, a teacher facing the charge of hurting his student, was given a discharge not amounting to acquittal by the magistrate’s court.

Magistrate Mohd Zaki Abdul Rahim delivered judgement after the prosecution told the court that they wished to withdraw the case.

Azizan Manap, also known as Cikgu Azizan, claimed trial to the charge of slapping an 11-year-old male student on the left cheek in April for indiscipline, the misdemeanour including sniffing glue, bullying and playing truant.

He was charged under Section 323 of the Penal Code for voluntarily causing hurt and was left facing a jail term of up to a year, a fine of RM,2000, or both, upon conviction.

Leading up to his discharge, several hundred people, including fellow teachers, gathered at the court in a show of solidarity for Cikgu Azizan.

By all means, go ahead and Google it: there are numerous reports of teachers threatened or roughed up in schools, and surprisingly, we seldom hear of offensive parents charged in court for criminal intimidation or causing bodily harm.

We have now been made to understand that the old ways don’t work anymore. The children need counselling and their hair needs to be stroked to motivate them. Have these methods worked better? That remains to be conclusively proven.

One thing’s for sure, though, the tight slap was unbeatable in my time in instilling discipline. Now, when I enter a lift, the millennials are too busy looking at their handphones, so don’t expect them to address you as “sir” or even greet you.

You’d be lucky if they called you “bro” and gave you an enthusiastic high-five, instead.

Would the proverbial one tight slap work today in curing disciplinary ills? Hardly likely.

By Wong Chun Wai

Wong Chun Wai began his career as a journalist in Penang, and has served The Star for over 27 years in various capacities and roles. He is now the group's managing director/chief executive officer and formerly the group chief editor.

On The Beat made its debut on Feb 23 1997 and Chun Wai has penned the column weekly without a break, except for the occasional press holiday when the paper was not published. In May 2011, a compilation of selected articles of On The Beat was published as a book and launched in conjunction with his 50th birthday. Chun Wai also comments on current issues in The Star.

Friday, June 16, 2017

Singapore PM Lee family feud explodes into open, gets more heated

PETALING JAYA: A public spat between the late Lee Kuan Yew’s children has shattered the usually serene political landscape in Singapore, with two siblings accusing their brother Prime Minister Lee Hsien Loong of abusing his powers.

Kuan Yew’s daughter Dr Lee Wei Ling and son Lee Hsien Yang accused their big brother Hsien Loong of, well, acting like “Big Brother”, with Hsien Yang going so far as to say he was fleeing the country.

“We are concerned that the system has few checks and balances to prevent the abuse of government.

“We feel big brother omnipresent. We fear the use of the organs of state against us and Hsien Yang’s wife, Suet Fern,” the two said in a six-page statement that was also posted on Facebook early yesterday morning.

Hsien Yang’s son, Li Shengwu, said the situation had become so bad that the family planned to relocate overseas.

“In the last few years, my immediate family has become increasingly worried about the lack of checks on abuse of power.

“The situation is now such that my parents have made plans to relocate to another country, a painful decision that they have not made lightly,” he said on Facebook.

Wei Ling and Hsien Yang also accused their brother of trying to establish a political dynasty and wanting to “milk” their father’s legacy.

They said Hsien Loong and his wife Ho Ching – the CEO of state investor Temasek Holdings – harboured political ambitions for their son Li Hongyi, who works at government agency GovTech Singapore.

The heart of the matter seems to be the siblings’ unhappiness that Hsien Loong was not following their father’s wishes in demolishing the family home at 38 Oxley Road.

Before he passed away in March 2015, Kuan Yew had already expressed his desire that the house he moved into and lived in since 1945 be demolished because he did not want it becoming a “political shrine”.

That desire was part of his last will and testament, but the current prime minister has declined to follow through.

His siblings have attributed this refusal to Hsien Loong’s political ambition.

“Indeed, Hsien Loong and Ho Ching expressed plans to move with their family into the house as soon as possible after Kuan Yew’s passing,” said Wei Ling and Hsien Yang.

“This move would have strengthened Hsien Loong’s inherited mandate for himself and his family.

“Moreover, even if Hsien Loong did not live at 38 Oxley Road, the preservation of the house would enhance his political capital,” they said.

Hsien Loong, who is travelling overseas with his family, said he was disappointed and saddened by his siblings for “publicising private family matters”.

“I am deeply saddened by the unfortunate allegations that they have made.

“Ho Ching and I deny these allegations, especially the absurd claim that I have political ambitions for my son.

“Since my father’s passing in March 2015, as the eldest son I have tried my best to resolve the issues among us within the family, out of respect for our parents.

“My siblings’ statement has hurt our father’s legacy,” Hsien Loong said in a statement posted on Facebook.

Singaporeans seem divided on the matter.

On Hsien Yang’s Facebook page, he was greeted by more criticism than praise, with some accusing him of being the one who had tainted his father’s legacy.

“A family feud that is aired so openly is a sad thing to see,” said Dolpzy Do.

On Hsien Loong’s Facebook, it was generally the opposite.

Pointing out that Kuan Yew had passed away over two years ago, Jacq Low said, “His last will should have been settled by now.”

While such a public spat is rare in Singapore, it is not unprecedented. Last year, as the island-republic commemorated the first anniversary of Kuan Yew’s death, Wei Ling went public with similar concerns.

In a family feud that played out on Facebook, she said the elaborate events were not what her father would have wanted, and that he would have cringed at such “hero worship”.

Wei Ling, a neurosurgeon, also accused Hsien Loong of abusing his power and using the anniversary to try and establish a political dynasty.

Hsien Loong replied via Facebook, saying he was “deeply saddened” by the accusations, describing them as “completely untrue”.

Source: The Star

PM Lee’s family feud becomes more heated

PETALING JAYA: The public spat between Singapore Prime Minister Lee Hsien Loong (pic) and his siblings became more heated Thursday, with the younger brother accusing the older of not being truthful.

The two younger children of Singapore’s founder and longest-serving premier Lee Kuan Yew, Dr Lee Wei Ling and Lee Hsien Yang, took to Facebook to air their grievances.

Hsien Yang accused his brother of not being truthful over the issue of their father’s wish to have the family home demolished.

Before he passed away in March, 2015, Lee Kuan Yew had expressed his desire that the house at 38 Oxley Road be demolished because he did not want it becoming a “political shrine.”

He had made that part of his last will and testament.

In a Facebook post, Hsien Yang compared what he said were Hsien Loong’s statements in public and those in private.

Hsien Yang said that despite the prime minister saying in public that the decision to demolish the house did not need to be taken immediately, a “secret committee” of ministers was set up to explore and make recommendations.

When Lee Kuan Yew’s will was recognised as final and legally binding, Hsien Loong did not mount a legal challenge.

However, he privately wrote to the above committee to say that there was no evidence their father knew that the demolition clause “had been reinstated into the last will,” the younger brother alleged.

Hsien Yang also claimed that the prime minister even swore this under oath in a statutory declaration.

Finally, while saying in public that he hoped the government would respect their father’s wish to have the house demolished, Hsien Loong told the committee in private that Lee Kuan Yew would have “accepted any decision to preserve it.”

“The will is final and binding. We have no confidence in Lee Hsien Loong or his secret committee,” Hsien Yang said in his Facebook post.

The tiff between Lee Kuan Yew’s children, simmering since their father’s death, had its lid blown open on Wednesday when the two younger siblings posted an explosive six-page statement saying that they had lost confidence in their elder brother.

Wei Ling and Hsien Yang also accused Hsien Loong of using the state machinery against them.

“We fear the use of the organs of state against us and Hsien Yang’s wife, Suet Fern,” they said. Hsien Yang, chairman of the Civil Aviation Authority of Singapore, said it had got so bad that he and his family intended to move out of the country.

Wei Ling and Hsien Yang also accused their older sibling of trying to establish a political dynasty and wanting to “milk” their father’s legacy.

They said Hsien Loong and his wife Ho Ching – the chief executive officer of state investor Temasek Holdings – harboured political ambitions for their son Li Hongyi.

In an immediate response on Wednesday, Hsien Loong said he was “deeply saddened by the unfortunate allegations that they have made.”

“Ho Ching and I deny these allegations, especially the absurd claim that I have political ambitions for my son,” he said, adding that he was disappointed in his siblings for publicising private family matters.

However, in a Facebook post on Thursday, his sister Wei Ling said she and her brother would not have issued a public statement if the dispute over their late father's house was “merely a family affair”.

Source: The Star/ANN

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Saturday, February 11, 2017

Leaving a legacy by buying a house first before a luxury car ...

DURING big festive celebrations such as Hari Raya Aidilfitri, Deepavali and the recently celebrated Chinese New Year, it is common to see families with a few generations gathered together.

Our grandparents, parents, uncles and aunties would talk about the legacies left by our ancestors, and the stories often attract a lot of attention whether from the young or old.

Perhaps, the topic of leaving a legacy is something worth sharing as we embark on a brand new year.

For years, I have been touched by the catchy tagline of a renowned Swiss watch advertisement, “You never actually own a (the watch brand), you merely look after it for the next generation”.

While most of us can relate to the thought, not all of us can indulge in such luxurious watches or be interested in buying one. However, at some point in time, we may be looking at buying a property to pass down to our younger generations.

Whenever the topic of leaving a legacy is brought up, I would recall the lesson that I learnt from my late father. My father embarked on a long journey from China to Malaysia at the age of 16. With years of hard work and frugality at his peak, he managed to own a bus company, the Kuala Selangor Omnibus Co.

Other than his bus transport business, he only invested in his children’s education and real estate. He financed seven of his eight sons to have an overseas university education, and when he passed away, he also left four small plots of land in Klang and a company which had 34 buses.

As I look back now, what my late father invested in unintentionally was very beneficial to me when I came back from my studies as an architect. With the land he handed down and the knowledge he equipped me with, I intuitionally got myself involved in small real estate development, and later founded my property development company, Sunrise, in 1968.

Many people have thought of leaving a legacy. The crucial questions often asked are, when should we start planning for it, and how should we go about it?

For financial planning and investment, I always believe that the earlier we start, the better off we are. The same goes to leaving a legacy.

If you plan to buy a property, it is advisable to start earlier as it is more affordable to buy it now as compared to 10 or 20 years down the line especially with rising costs and inflation in mind. You can start with what you can afford first and focus on long-term investment.

It is proven that property prices appreciate over a period of time, especially when we plan to hand over assets to the next generation that easily involves a 20- to 30-year timeline.

As a developing nation which enjoys high growth rate, Malaysia’s property values will also appreciate in tandem with the economic growth in the long run.

Nowadays, we often hear youngsters comment on the challenges of owning a house due to the rising cost of living. I believe that besides starting with what you can afford, it is also important to plan your financial position wisely and to differentiate between investment and spending.

Investing in properties, commodities, shares, etc. is also a form of savings which can help to grow your wealth and to leave a legacy. On the other hand, money spent on luxury items may depreciate over time from the day you buy them. If we can prioritise investment over expenditure, it is easier and faster to achieve our financial goals.

So, if you haven’t already started to plan, do consider leaving a legacy by buying a house first before a luxury car, branded bags or expensive gadgets, as the latter are considered ‘luxury’, not necessity.

Even if you may not have a spouse or children at this point in time, it’s better to start now than later, as our financial commitments tend to grow bigger as we progress into the next stages of our lives.

Most of us hope our lives matter in some way that can make an impact on our loved ones. The idea of leaving a legacy can take many forms, such as equipping the younger generations with knowledge and values, or leaving them fond memories.

Those are all important to work on and they leave a footprint to those lives you touch. If you are also planning to hand over physical gifts, always remember to start earlier with what you can afford, and focus on long term investment.

By Food for Thought Alan Tong

Datuk Alan Tong has over 50 years of experience in property development. He was the world president of FIABCI International for 2005/2006 and awarded the Property Man of the Year 2010 at FIABCI Malaysia Property Award. He is also the group chairman of Bukit Kiara Properties. For feedback, please email feedback@fiabci-asiapacific.com.

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