How much money do we consider enough? I've been thinking of this question many times before. But I don't really know how to actually answer it. Shall I say, RM100,000? RM300,000? or even RM1 million? What about you?
I realized my buying power as a consumer now, is becoming lesser and lesser. Not because without the money to pay for the things, but is because my Ringgit Malaysia (RM)100 now only enable me to buy few items compared to 2 years back? That is so scary. If it is inflation, what happened to the value of Malaysia Ringgit? Is Ringgit Malaysia depreciate compared to USD $? I don't think so. Coz, everytime when I read the newspaper it doesn't mentioned that ringgit malaysia is depreciate, instead it appreciate and become stronger , inflow of foreign funds is greater than before.
Wait a minute... Ringgit Malaysia become stronger? You got to be kidding.
But why the consumers purchasing power is so poor. For example, today I went to this normal coffee shop for a lunch meal. Price for economy rice no longer RM4, instead RM5.50 and some more with just 3 choice of dishes. 2 vegetables mixed cooked, and 1 meat (chicken mixed fry). So few choice here and the food quality is not to the standard though..
What about going to luxury place? Say to a cafe/restaurant? Eg I went to this western food restaurant nearby my house before. The price for just a normal Thai fried rice, or even lamb chop with french fries now cost RM28.00++ exclude govt and service tax. Why is it so expensive? If judge by its environment, it is just a normal restaurant to me, with a cooling fan and nice wallpaper. That's it. Nothing more.
So, right now. I've been always thinking on How much money is consider enough to me and for each of you? Can you specifically know the exact amount of money you should have, in order to say. Okay. That's it. I am done. I have earned enough and rich enough to buy everything and satisfied with it..... Can you?
For me, I can't really decide it....
Top banks in the European Union will have to tell their supervisors how many staff earn more than a million euros a year, draft proposals showed on Thursday.
The European Banking Authority launched a public consultation on draft rules that will require national supervisors to collect details on pay each year to check whether the bloc's curbs on upfront cash bonuses are being implemented.
No banker would be named, and the focus is on large, cross-border banks or major domestic ones. The aim is to discourage bankers from taking excessive risks to earn a bigger bonus. (Reuters)
Hong Kong's billionaires are finding it harder to buy peace and quiet these days.
After years of turning a blind eye, the government this month issued regulations demanding tycoons move the imposing gates of their luxurious estates closer to home, and out of publicly-owned land such as that lining the roads in this space starved city of seven million people.
Those affected by the order include Macau casino magnate Stanley Ho and Peter Woo, chairman of property and infrastructure focused Wharf Holdings.
“We consider it as a breach of the land lease,” said Teresa Sair of the Lands Department.
The Hong Kong authorities appear to be on a drive to appease an increasingly agitated public, frustrated with soaring property prices and the government's cozy relationship with major property developers.
Over the past few months, government officials have targeted individuals who have built houses with “illegal structures” on public land. Lawmakers have also been lambasted for erecting rooftop glasshouses on their homes without permits.
Now the billionaires are taking a hit. The government had set a July 27 deadline for the removal of the offending gates, but the South China Morning Post reported that only two of six targeted tycoons have obliged, or shown a willingness to do so.
The paper said that Woo, of Wharf Holdings, is one of the tycoons who is making preparations to remove gates at his two estates in Sheko, an exclusive beach side district in Hong Kong located on the south side of the island.
Gambling kingpin Ho, however, has yet to comply with the order, as has Sino Land chairman Robert Ng, Central Development's chairman Hui Saifun, and Tong Yunkai, president of the Confucian Academy, the paper added. (Reuters)
OCBC has raised its 2011 net earnings estimate for DBS to S$2.98 billion from $2.85 million, to account for a more stable net interest margin.
Temasek Formation Sdn Bhd has proposed to acquire the entire interests including all assets and liabilities of JOTECH HOLDINGS BHD [, AIC CORPORATION BHD and AutoV Corporation Bhd for RM696 million with a view to merger the companies to create a larger entity.
The company plans to create a larger group in terms of market capitalisation, streamline the multi-tiered shareholding structure as well as unlock potential intrinsic values of the target companies.
The merger would be executed via the issuance of new Temasek Fomation shares to existing shareholders of AIC, Jotech and AutoV as well as to warrant shareholders of these companies.
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