Here it is again, the Marathon of Hope for 2009. This will be my 3rd consecutive year joining thousands of other Malaysians.

Via 1.com.my…

Date: Sunday, 1 November 2009
Venue: Flag off @ 9.00 a.m. Taman Tasik Perdana (Lake Gardens)

Rules & Regulations:
1) All participants must run on the designated route. There are 2 routes- 5km and 3.5km for the family run.

2) For wheelchair bound, and physically challenged participants, please note that there are slopes along the run route.
3) Participants are to be at the assembly area by 8.45 a.m.
4) No registration required. Just turn out during the run day. You can buy the Terry Fox Run official t-shirt, RM25 each.

Parking:
Limited parking is available on site, and public transport is recommended.

Notice:
The organisers, their agents, representatives, successors and assigns, are not liable for any injuries suffered, damage and loss of properties by participants at this event

Official T-Shirt

Terry Fox Run 2009 Official T-Shirt

The t-shirts will be available in September
Please contact:
Ms Yoon / Mr Peter Kang, CARIF, 2nd floor, OPC, Sime Darby Medical Centre, T: 03-56391874. Or email us at organizer@terryfoxrunkl.org
Report on Last Year’s Run

I hope this year there will be more active attempts by the organizers and the benefiting institutions to spread the awareness on cancer. For the past 2 years, I can only notice the Milo van being the most successful post-run attraction. There is very minimal effort on spreading awareness and information on cancer education.

Getting everyone to run is one thing, getting everyone to understand why they are running is another. For the informed runners who already knew about Terry Fox and his battle for cancer, they probably already know why they are running. What about the children from the younger generation, who will be tagging along with their parents for the run?

Organizers, time to go the extra mile (pun definitely intended)!

UPDATED:

Here is a list for the latest Terry Fox Run KL 2009 T-Shirt sales locations:

• 1 Utama, Community Corner, 1st. Floor, Oval, 23-25 Oct (Fri to Sun), 10.00am to 9.00pm
• Bangsar Village, Ground Floor, 24-25 Oct (Sat & Sun), 10.00am to 9.00pm
• Mid Valley Megamall, 3rd Floor, North Court (Celebrity Fitness), 26-30 Oct (Mon to Fri), 5.00pm to 8.00pm
• Sunway Pyramid, LG1, Blue Atrium (near Bata), 30-31 Oct (Fri-Sat), 10.00am-9.00pm
• Menara Citibank, Foyer, 26-30 Oct (Mon to Fri), 12.00pm to 2.00pm
• Mont Kiara and PJ Hilton (Clark Hatch Fitness Centre), 20-23 and 27-30 Oct (Tue to Fri), 4.30pm to 7.30pm
• Canadian High Commission, Menara Tan & Tan, Off Jalan Tun Razak – From 19 Oct, Mon to Thurs,8.30am to 12.00noon, 2.00pm to 4.00pm. Fri 8.30 am to 12.00pm
• Cancer Research Initiatives Foundation (CARIF), Sime Darby Medical Centre ??From 15 Oct, Mon to Fri, 9.00am to 5.00pm
• Run Day – Lake Garden, Kuala Lumpur, 1 Nov, Sun, 8.30am – 10,30am

Here’s the latest press release from Great Eastern:

PRESS RELEASE
For immediate release

Kuala Lumpur, 19 August 2009 ??Great Eastern Life Assurance (Malaysia) Berhad?? Director and Chief Executive Officer Mr Koh Yaw Hui informed that as a good corporate citizen with a hundred and one years??presence in Malaysia, Great Eastern will cover hospitalization claims made by its policyholders, who have been hospitalized due to influenza A (H1N1).

??his pandemic disease is distressing for our community. We would like to dispel all uncertainties on hospitalization claims by affirming that Great Eastern will compensate our policyholders who have been hospitalized for treatment of influenza A (H1N1),??assured Mr Koh.

Similarly, Mr. Koh in his capacity as a Director of Overseas Assurance Corporation (Malaysia) Berhad (??ACM??, would also like to take the opportunity to assure the policyholders of OACM who have been hospitalized due to influenza A (H1N1), that they will be accorded similar treatment.

Mr Koh urged the public to adhere to the authorities??request to take precautionary measures to prevent further spread of this disease by practising isolation should one feel ill or show symptoms of influenza A (H1N1), to curb further spread of this deadly disease.

Mr. Koh added, ??reat Eastern and OACM have constantly briefed our employees on influenza A (H1N1) in relation to insurance claims. We have also taken the initiative to communicate regularly with our employees and our agency force on this pandemic so that we are able to serve our policyholders on a timely basis.??/blockquote>

Here’s another announcement by Etiqa:

(The Edge, 21st August) KUALA LUMPUR: Etiqa will pay the claims made by its medical and health plans??policyholders should they be hospitalised for treatment for H1N1 influenza, with immediate effect.

Etiqa said on Aug 21 the H1N1 influenza can affect everyone physically and also financially, in terms of the medication and treatment.

Its CEO and director Datuk Aminuddin Md Desa said in this difficult time, it decided to extend the cover of H1N1 influenza to its medical and health plans and ensure that claims are paid to policyholders hospitalized and treated for the H1N1 influenza.

Etiqa is extending the cover for H1N1 influenza treatment and hospitalisation to its group and individual medical and health plans. This H1N1 coverage benefit is extended to all current policyholders of Etiqa?? medical and health plans and any new policyholders who will be joining the plan from now on.

Here’s another press release from Life Insurance Association of Malaysia (LIAM), the Insurance Industry’s self-regulatory body:

Life Insurance Coverage for Influenza A(H1N1) – Press Release

Kuala Lumpur, 21 August 2009: The Life Insurance Association of Malaysia (LIAM) has confirmed that death due to the Influenza A(H1N1) will be payable. In addition, all the 16 life insurance companies under LIAM will also be paying claims arising from hospitalization due to Influenza A(H1N1). Even though a majority of the medical policies carry exclusion on communicable diseases requiring quarantine by law, life insurers are responding to an immediate need of the nation in light of the increasing number of people who have been infected.

Life insurance companies will nonetheless continue to monitor the Influenza A(H1N1) situation. In the event of any review of this decision on life insurance coverage, the policyholders will be duly informed.

I should think that all insurers that provide Hospitalisation benefits should be made mandatory by Bank Negara to extend their coverage to include H1N1.

I have not read about PIAM’s take on H1N1 claims, but some of the travel insurance packages offered by General Insurers are already providing limited benefits to H1N1-related compensations and expenses.

Reader Mr Booi sent me something interesting – the ranking of Current Account Balance of every countries on this planet.

Subject: Singapore is No. 10, Malaysia is No. 17.. check who is No.163?

Rank, Country, Current Account Balance (million US$)

1 People’s Republic of China (PRC) 179,100
2 Japan 174,400
3 Germany 134,800
4 Russia 105,300
5 Saudi Arabia 103,800
6 Norway 63,330
7 Switzerland 50,440
8 Netherlands 50,170
9 Kuwait 40,750
10 Singapore 35,580
11 Venezuela 31,820
12 Sweden 28,610
13 United Arab Emirates 26,890
14 Algeria 25,800
15 Hong Kong 20,900
16 Canada 20,560
17 Malaysia 17,860
18 Libya 14,500
19 Brazil 13,500
20 Iran 13,130
21 Nigeria 12,590
22 Qatar 12,510
23 Taiwan 9,700
24 Finland 8,749
25 Iraq 8,134
26 Angola 7,700
27 Oman 7,097
28 Belgium 6,925
29 Austria 5,913
30 Argentina 5,810
31 Chile 5,063
32 Denmark 4,941
33 Philippines 4,900
34 Luxembourg 4,630
35 Trinidad and Tobago 3,259
36 Azerbaijan 2,737
37 Egypt 2,697
38 Korea, South 2,000
39 Bahrain 1,999
40 Gabon 1,807
41 Botswana 1,698
42 Yemen 1,690
43 Indonesia 1,636
44 Peru 1,515
45 Israel 1,643
46 Uzbekistan 1,410
47 Burma 1,247
48 Republic of the Congo 1,215
49 Vietnam 1,029
50 Ecuador 727
51 Bolivia 688
52 Papua New Guinea 661
53 Namibia 572
54 Ivory Coast 460
55 Cameroon 419
56 Morocco 389
57 Bangladesh 339
58 Turkmenistan 321.2
59 Equatorial Guinea 175
60 British Virgin Islands 134.3 (1999)
61 Kazakhstan 113
62 Cook Islands 26.67 (2005)
63 Palau 15.09 (2004)
64 Tuvalu 2.323 (1998)
65 Samoa -2.428 (2004)
66 Tonga -4.321 (2005)
67 Comoros -17 (2005)
68 Kiribati -19.87 (2004)
69 Swaziland -23.13
70 S?o Tom? and Pr ?ncipe -24.4
71 Vanuatu -28.35 (2003)
72 Federated States of Micronesia-34.3 (2005)
73 Anguilla -42.87 (2003)
74 Cape Verde -44.43
75 The Gambia – 54.61
76 Burundi -57.84
77 Haiti -58.72
78 Tajikistan -73.95
79 Lesotho -75.44
80 Seychelles -78.59
81 Antigua and Barbuda -83.4 (2004)
82 Guyana – 84.3
83 Rwanda -104.1
84 Honduras -160
85 Zambia -165.4
86 Republic of Macedonia -167
87 Belize -173.4
88 Malawi -186
89 Ghana -219
90 Armenia -247.3
91 Togo -261.9
92 Zimbabwe – 264.6
93 Kyrgyzstan -287.3
94 Paraguay -300
95 Chad -324.1
96 Benin -342.7
97 Guinea -344
98 Cambodia -369
99 Mexico -400.1
100 Uganda -423
101 Eritrea -440.5
102 Mozambique -444.4
103 Fiji -465.8
104 Panama -467
105 Madagascar -504
106 Laos -404.2
107 Belarus -511.8
108 Syria -529
109 Moldova -561
110 Uruguay -600
111 Burkina Faso -604.6
112 Mauritius -651
113 Albania -679.9
114 Georgia -735
115 Tunisia -760
116 Slovenia -789.2
117 Nicaragua -883
118 Senegal -895.2
119 Thailand – 899.4
120 Tanzania -906
121 Malta -966.2
122 Jamaica -970
123 Cyprus -1,051
124 El Salvador -1,059
125 Sri Lanka -1,118
126 Kenya -1,119
127 Dominican Republic -1,124
128 Costa Rica -1,176
129 Cuba -1,218
130 Guatemala -1,533
131 Bosnia and Herzegovina -1,730
132 Estonia -1,919
133 Ukraine -1,933
134 Colombia -2,219
135 Serbia -2,451 (2005)
136 Latvia -2,538
137 Lithuania -2,572
138 Jordan -2,834
139 Croatia -2,892
140 Iceland -2,932
141 Ethiopia -3,384
142 Slovakia -3,781
143 Czech Republic -4,352
144 Sudan -4,510
145 Poland -4,548
146 Bulgaria -5,100
147 Lebanon -5,339
148 Pakistan -5,486
149 New Zealand -7,944
150 Hungary -8,392
151 Ireland -9,450
152 Romania -12,450
153 South Africa -12,690
154 Portugal -16,750
155 Greece -21,370
156 Italy -23,730
157 Turkey -25,990
158 India -26,400
159 France -38,000
160 Australia -41,620
161 United Kingdom -57,680
162 Spain -98,600
163 United States -862,300

Saving is sin, and spending is virtue…

Interesting article written by an Indian Economist:

Japanese save a lot. They do not spend much. Also Japan exports far more than it imports. Has an annual trade surplus of over 100 billions. Yet Japanese economy is considered weak, even collapsing.

Americans spend, save little. Also US imports more than it exports. Has an annual trade deficit of over $400 billion. Yet, the American economy is considered strong and trusted to get stronger.

But where from do Americans get money to spend?

They borrow from Japan, China and even India.Virtually others save for the US to spend. Global savings are mostly invested in US, in dollars.

India itself keeps its foreign currency assets of over $50 billions in US
securities. China has sunk over $160 billion in US securities. Japan’s
stakes in US securities is in trillions.

Result:

The US has taken over $5 trillion from the world. So, as the world saves for the US, Americans spend freely. Today, to keep the US consumption going, that is for the US economy to work, other countries have to remit $180 billion every quarter, which is $2 billion a day, to the US!

A Chinese economist asked a neat question. Who has invested more, US in China, or China in US? The US has invested in China less than half of what China has invested in US.

The same is the case with India. We have invested in US over $50 billion. But the US has invested less than $20 billion in India..

Why the world is after US?

The secret lies in the American spending, that they hardly save. In fact
they use their credit cards to spend their future income. That the US
spends is what makes it attractive to export to the US. So US imports more than what it exports year after year.

The result:

The world is dependent on US consumption for its growth. By its deepening culture of consumption, the US has habituated the world to feed on US consumption. But as the US needs money to finance its consumption, the world provides the money.

It’s like a shopkeeper providing the money to a customer so that the
customer keeps buying from the shop. If the customer will not buy, the shop won’t have business, unless the shopkeeper funds him. The US is like the lucky customer. And the world is like the helpless shopkeeper financier.

Who is America’s biggest shopkeeper financier? Japan of course. Yet it’s
Japan which is regarded as weak. Modern economists complain that Japanese do not spend, so they do not grow. To force the Japanese to spend, the Japanese government exerted itself, reduced the savings rates, even charged the savers.

Even then the Japanese did not spend (habits don’t change, even with taxes, do they?). Their traditional postal savings alone is over $1.2 trillions, about three times the Indian GDP. Thus, savings, far from being the strength of Japan, has become its pain.

Hence, what is the lesson?

That is, a nation cannot grow unless the people spend, not save. Not just spend, but borrow and spend.

Dr. Jagdish Bhagwati, the famous Indian-born economist in the US, told
Manmohan Singh that Indians wastefully save. Ask them to spend, on imported cars and, seriously, even on cosmetics! This will put India on a growth curve. This is one of the reason for MNC’s coming down to India, seeing the consumer spending.

‘Saving is sin, and spending is virtue.’

But before you follow this neo economics, get some fools to save so that you can borrow from them and spend!!!
God Bless You

Warmest Regards

I would really like to know what you think. Is it really foolish saving up for rainy days?

Or is there something not right about the current economy/financial/monetary system?

Was having a great chat with Max and one particular topic discussed explained the term ‘herd mentality’ aptly.

When there are mega sales at the shopping malls, everyone will rush to fill up the parking lots and some more. Many even take leaves from their work just so that they can get the really good deals.

When the blue chips or real estate prices took a real beating, everyone would stay away. (And actually wait for it to peak before going in.)

That, my friend, is the power of herd mentality.

This article has been contributed by KC Wong, and edited by Yowchuan.

In the second part of this New House Purchasing Preparation Series, we will look at how house buyers can end up being a victim of speculations by real estate agents.

After examining the various options to finance my new house, I began looking for the property that would fit within my budget. By the way, I am looking for a landed double-storey unit. I have been looking for the past 7 months and still couldn’t make up my mind yet. However, within this period, I have learned quite a few lessons.

Lesson 1: Don’t become a Victim of Real Estate Speculations
As I browsed through the advertisements in www.iproperty.com, I managed to find quite a few units that fit my requirements. The next obvious step is to call up the agent to set an appointment for the house viewing. One particular unit is a basic, non-renovated unit with good condition and well-maintained. The asking price for this house was RM230,000 in Taman Melur. I like this house very much because the price is reasonable and I can move in with just a little bit of touching up. I brought my parents for a second viewing and they like the house too.

Next, I began the pricing negotiations with the agent. I offered RM225,000 initially, RM5,000 short from the original selling price. The agent did not immediately get back to me, and after a few days, the agents replied that the house owner has increased the price to RM240,000 which really pissed me off. I was expecting a discount, but ended up having to pay RM10,000 more from the original asking price of RM230,000.

Then I decided to investigate and here’s what I speculated could have taken taken place behind closed doors:

(i) First Price Check
From what I gathered, the owners were told by other agents that he can obtain a higher price than the original RM230,000. This is the first sign of speculation. I demanded to the agent who I was dealing with that such indecisiveness is unfair to me, but I guess until any black and white documents had been signed, there’s nothing much anyone can do about it. You can’t just take anyone to court with just verbal promises.

(ii) Second Price Check
While I was checking out property listings on The Star Classifieds, I realized that various agents are asking for around RM248K to RM260K for the same property. I didn’t know that a single property can be represented by a few agents and their pricing can vary according to how much the agents would want to profit from the deal. This is another sign where the more agents are involved, the more rampant the speculations become.

After a few more days, the agent called me up and informed me that the owner is willing to dispose off the unit at RM240,000. I thought about it and finally decided not to accept the offer, simply because the owner did not keep his promise. There is also the possibility of the owner changing his mind again. Furthermore, I just don’t like the idea of dealing with someone who don’t stick to their words.