Showing posts from May, 2012

Should I apply for a credit card? (Malaysia)

If you have been walking around in shopping complexes long enough, most likely you would have encountered promoters trying to get you to sign up for a new credit card (plus a free gift). Sometimes, you would probably encounter promoters promoting credit cards from various banks. Should you go for it? There are good points and there are bad points. Let me begin with some good points: It’s better than borrowing from “Ah Long”. You would need it if you or your loved ones need to get admitted to a private hospital. Private hospitals will need a deposit before they do any major procedure on you. Or else, you will be transferred to the government hospital. Further, most of us do not carry so much cash in our wallet. You would need it if you are suddenly jobless for whatever reasons and you have no extra cash. Living in a city means you can’t plant your own vegetables and hunt for meat. Almost everything cost money!  The bad points:

How many banks in Malaysia are offering credit cards?

Maybank HSBC UOB CIMB RHB Citibank EonBank Alliance Public Bank Affin Bank Hong Leong Standard Chartered OCBC AmBank MBF Bank Islam Aeon BSN Bank Rakyat Read More: Credit Cards in Malaysia

OCBC Bank vs a credit card debtor in Sarawak

This is a minor case with a relatively small loan of RM 9,000. It's a bit funny that the bank is going after a RM9,000 debtor instead of going after the much bigger corporate debtors probably owing the bank in hundreds of millions. Maybe the bank has a perfect 0% corporate non-performing loans. Is the bank interested to bankrupt the RM9,000 debtor? To be a bankrupt, his total debt must me above RM30,000. That's why the amount has been accumulated above the RM30,000 mark? This case is weird, may not be as simple as that. More than meets the eye. Read more here on bankruptcy law. The morale of this case is that the debtor could have contacted the Credit Counseling and Debt Management Agency (an agency set up by the Central Bank of Malaysia). This case could have been easily managed by the agency. ........................................................................................ Lawyer cries foul over debtor's legal trouble Free Malaysia Today A court case init

A short story on management, power and common sense.

Once upon a time, there was a beautiful island with only two people on it. There was more than enough fruits in the jungle and more than enough fish for them to fish every day. Both of them will take turn to go out to find food and the other will do the cooking. The system was working fine and life was simple and peaceful. Then one day, a plane crashed near the island. Ten people managed to survive and they managed to swim to the island. Now, things are getting a little bit more complicated now. There were 12 people now (10 + 2) and things now need to be ‘organized’. However, one of them was a flight marshal and he has a ‘gun’ with him. So he said, ‘I have a gun and I am the most powerful here. Everyone needs to listen to me!’ So, he was ordering everyone around by threatening them. He gets to eat without really contributing to the team. Then one day, while he was asleep; his gun was stolen from him. So, now, there is a new ‘boss’ and the new boss now is in charge and get to