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jasonjst

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thanks for the endorsement man..as mentioned in my earlier post....the perfect development or house in JB is a very subject and indeed elusive concept. i suppose it all boils down to what we can live with and what we can live without.

Something on the financing part...i am using CIMB's homeflexi plan which allows for interest offset..need to pay close to S$1K per month for 16 years. I am not sure whether bros here are aware, but CIMB Singapore allow internet transfer from Sing to M'sia at no cost. Exchange rate is not so bad...about 2.442 compared to outside cash rate of 2.457...they still got to earn la..at least no need to bring so much cash around and is instant transfer...just the click of the mouse.

Good to loan from bank based in SG ? I see the advantage of low interest rate and strong SGD .
But not too sure 1 SGD = RM 246 can stay how long . Make me wonder how we can hedge at current rate for say next 10 years ? Any bank willing to take the hedge ?
 

Investor

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Asset
Went to Restoran Pekin @ Sutera Utama today, the food is really quite nice and price is not expensive. Recommended!
 

Analytical Professor

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Nice tip bro..

Decent exchange rate

Time saving

No hassle

Something on the financing part...i am using CIMB's homeflexi plan which allows for interest offset..need to pay close to S$1K per month for 16 years. I am not sure whether bros here are aware, but CIMB Singapore allow internet transfer from Sing to M'sia at no cost. Exchange rate is not so bad...about 2.442 compared to outside cash rate of 2.457...they still got to earn la..at least no need to bring so much cash around and is instant transfer...just the click of the mouse.
 

Analytical Professor

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Actually as long as there is a st fight i think i dun mind anyone else even if not tkl my fav

I hope the number of candidates will be lesser on nomination day cos it is to the advantage of tt. 2 way contest will be better as there will be clear winner of more than half of d votes
 

Analytical Professor

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I think they should check ip address n time log of rachelle to verify...

More interesting stuff

Gay Chao Hui: I am very embarrassed to be a Singaporean
The ‘apology’ made by Gay Chao Hui, the Singaporean husband of Rachelle Ann Beguia on the Facebook of PAP MP Penny Low three hours ago was greeted with disbelief by most Singaporeans.

Mr Gay claimed that he posted the derogatory comments about Singaporeans using his wife’s Facebook account which questioned the loyalty of NSmen and ridiculed Singaporeans who lost their jobs to foreigners as being ‘incompetent’, among other things.

“I would like to express my remorse and deepest apologies to the people of Singapore who have been hurt by my remarks,” he wrote.

Though most netizens have dismissed his apology as a desperate ploy to save the skin of Rachelle, it may not be entirely impossible given that Mr Gay has made more damning remarks about Singaporeans in the past.

Using the moniker of ‘Xoom’ on the Filipino forum pinoysg.com, he described himself as a Singaporean who is on a ‘crusade’ to better the employment conditions of Filipinos and even gave his handphone number (9658 1443) to the Filipinos in the forum to contact him if they know of any cases of maid abuse.

In a post made on 13 January 2009, he claimed that he was embarrassed to be a Singaporean:

“I am Chinese Singapoean but I despise Chinese SIngaporeans the most….really KIASU and a bunch of maid abuses. Hail the Filipinos screw all you SINGAPOREANS! From what you described, as a Singaporean (am very embarassed to be one and have disavowed any association with this nationality).”

In another comment made in October 2009, he asked the Filipinos in the forum to recommend a Filipino playgroup for his son as he does not want him to mix around with Singaporean children:

“I am a Singaporean Chinese and my wife is Pinay. We have an 18 month old son. I am very very keen for my son to mix with other Filipino children and also want him to start learning Filipino language and values. I do not like him to mix with other Singaporean children as I simply am disdainful of their values and self-centeredness. Can any of you recommend a playgroup for our son? “

Mr Gay Chao Hui is currently working as a civics tutor in Tampines Junior College. Since he is so ashamed of being a Singaporean, Mr Gay should renounce his citizenship and relocate to the Philipines permanently with his wife and child.

There are some rumors circulating around that Mr Gay is a PAP grassroots leader serving in Penny Low’s constituency which explained why he stepped forth to defend her on Facebook. If you have any information about Mr Gay, please contact us immediately using our web contact form. Thanks.

Ehh now the Singaporean husband said he is the one who wrote the comments. Really no eye to see the Spore now!
 

yonglip

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Good to loan from bank based in SG ? I see the advantage of low interest rate and strong SGD .
But not too sure 1 SGD = RM 246 can stay how long . Make me wonder how we can hedge at current rate for say next 10 years ? Any bank willing to take the hedge ?

no la bro. we borrowing from M'sia CIMB. they have the homeflexi plan. I just have their CIMB Sing savings account. It allows transfer to my CIMB M'sia account at no cost. understand maybank charge $15 per transaction. this is different from TT. its just cross border internal transfer within the same bank.

for us we are exposed to 2 risk - interest rate and foreign exchange. i mitigate interest rate risk with interest offset plan..so if i put an equal amount in their current account, interest rate is zero..i.e. why a 30 years loan duration ends up being paid in 16 years. so interest rate move up/down..bo tai zee.

For exchange rate risk, we are also more or less ok...if Sing dollar strong, we are earning sing dollars and therefore is able to convert more RM down the road...although house value/RM funds in Sing Dollars term drop...as long as dont sell or convert...still safe.....if RM strong, we have the funds in there already..no need to convert to Sing...house value/RM funds in Sing Dollars increase...so wont be that bad la.
 

Bigfatfish

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Totally agree with what you say, you write so beautifully! :smile:



[QUOTE Bigfatfish when i die i want everything to disappear from the face of this earth./// Analytical Professor;795170] Scattering ashes at sea is good right? At least then no 30 years problem and secondly our kids will not be forced to come and visit the niches.:wink:

With respect to everyone else's view, religious or emotional, I have never understood this need to preserve ashes. Yes, respect for the body of any human being and certainly not to allow disrespect to the corpse in any way, specially mutilation. But I was a witness to my mother's annual visit to my father's grave and the deep sorrow each visit would produce for days.

I don't think any religion teaches that any part of the spirit or soul still resides in the remains - whether we bury, cremate, cover with goldleaf or allow birds to pick the corpse clean.

Nor do any of the religions teach that prayers said at the graveside/halls of niches/family altar penetrates and benefits the actual ashes or bones of the dear one who has moved on. Surely it is for the soul or spirit of the loved one.

I was amazed to hear, some years ago, all about the different prices for the niches: the higher up ones give a better view, light and airiness and the lower and cheaper ones are too close to people's feet etc etc It dawned on me then how much money can be made from this from people who are grieving (and grieving in advance!), and how much better use that money could be put right now to feeding the poor, clothing and housing the desperate, to scientific research into horrible diseases, educating children and ignorant adults [who want education but could never afford it], cleaning up the planet, preserving the rainforest and the seas, helping in so many ways living people in need. And if not, to having a good time with that money while there is still life in you. At least donate the money to groups of religious, nuns or monks, who will pray for the departed soul - it will keep the temple or church in repair and provide them with sustenance while they are doing the praying for you, you lazy sod.

My same mother, when asked about the distribution of her personal effects, said this most liberating thing: Oh do what you like dear, I'll be dead and gone!

I mean no disrespect to anyone else's views on how best to commemorate the loss of a dearly loved one.[/QUOTE]
 

Bigfatfish

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Welcome to another interesting world of people who think just like you.


Hi everyone here, I have been reading this forum since the time it started, i shared the feeling of each members here and the reasons behind the move to start up alternative homes in JB. Before i continue let me share a bit of myself, i just retire recently after reaching the age of 62. However in 2009 I come to realise that the cost of living is becoming more and more costly beside the crowded MRT, bus and roads. What do we have? i ask myself beside shopping centres and foodcourts, the kids and adults don't have places to go for relaxations and get away from the commercial aspect of city life. the so called quality of life can only be measured here in term of the money you earned and material possessions that so many are so proud of. So in 2009 i make up my mind to do something about it, no point just talk about it with friend and collagues, i when to purchase a house in JB, a cornered unit in Taman Pelangi Indah. I have plans to use the place for retirement and aslo to setup a workshop for my future crafts business and aslo to try my hand on planting some exotics plants with the available land i have. Well i am looking forward to share with this group my plans and progress if anyone is interested. I will sign off here and hope to continue at a later date, good days to all.
 

Bigfatfish

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hmmmm quality of handover. before i start, i've high expectations or high standards due to nature of my work. so very likely going to offend same people again.

i would say for layman, very very nice and beautiful. however, a lot of defects are hidden. confirm better than the showroom of HH. however a lot of defects are hidden. i was doing one condo last week. very very pretty but i see where the imperfections are. however according to national singapore standards pass lah. of cuz a lot of things maybe never check. like hollowness of parquet flooring. aiyoh headache next time.


Missed this post. Yes, nowadays see quite a few projects in Singapore by China developers. And the thing is they are not priced cheaper than other condos! Wow everything PRC, how's their quality like for the handover?
 

Bigfatfish

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Political bullshiters. one min say this , next min they say dat. what is what. pinoys are good at twisting words. so maybe now kenna , so ask husband to shield her. if singapore so lousy then ask them to go somewhere else.
 

Analytical Professor

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How does that work bro?bthe interest offset plan?



no la bro. we borrowing from M'sia CIMB. they have the homeflexi plan. I just have their CIMB Sing savings account. It allows transfer to my CIMB M'sia account at no cost. understand maybank charge $15 per transaction. this is different from TT. its just cross border internal transfer within the same bank.

for us we are exposed to 2 risk - interest rate and foreign exchange. i mitigate interest rate risk with interest offset plan..so if i put an equal amount in their current account, interest rate is zero..i.e. why a 30 years loan duration ends up being paid in 16 years. so interest rate move up/down..bo tai zee.

For exchange rate risk, we are also more or less ok...if Sing dollar strong, we are earning sing dollars and therefore is able to convert more RM down the road...although house value/RM funds in Sing Dollars term drop...as long as dont sell or convert...still safe.....if RM strong, we have the funds in there already..no need to convert to Sing...house value/RM funds in Sing Dollars increase...so wont be that bad la.
 

yonglip

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How does that work bro?bthe interest offset plan?[/QUOTE

let me illustrate using my house example..

Valuation = RM560K
borrow 80% = RM448K
Duration = 30 years
Instalment per month = RM2,300+
Open a current account with them and put in RM448K cash. under the interest offset plan, the 2 accounts are linked resulting in 0 effective loan. so interest is 0 regardless of interest rate levels.
in the meantime, they will deduct about RM2300 per month from the current account as mortgage payment. Both the accounts will fall in tandem. i..e LOAN balance goes down, Current Account Balance goes down...with this, a loan that normally takes 30 years to repay will be repaid in 16 years.

my plan is to top up this current account periodically and eventually i will still have some RM cash there waiting for me when i retire as well as a fully paid up home in 16 years time.

why go through this hassel and not pay them one shot since got cash?..i hear some bros asking....

simple...the rationale is similar to why pay cash when you can utilise the 24 month interest free instalment payment plan on most credit cards to pay for your electrical purchase at COURTS for example.

if you pay them one shot, your money is gone overnight. With this plan, it will only be gone over a period of 16 years. its more of a pyschological thingy. hahaha...actually below are some real reasons.

it effectively becomes an interest free payment plan. Interest rates are high in M'sia, so it makes sense to reduce it. in any case, the money in Sing account is earning peanuts interest.

Funds in the current account is still yours..i.e. can still be used. So if need money, can still withdraw via ATM/transfer out/write cheque. of course if current account is lesser than outstanding loan amount, have to pay standard mortgage interest (BLR-XX%) on the net balance.

If RM strenghtens, i am ok cos my funds are already in there for auto monthly deductions. I dont have to really change from Sing to RM to pay the instalments. If RM weakens, the initial amount in the current account will take a hit but since i am topping up this account periodically, it also means that i will be topping up with less Sing dollars down the road. so net impact bearable.

Finally a mortgage loan allows one to buy the MRTA...a cheap reducing term insurance which you never really know when it might come in handy (hahaha - touch wood hor)...

Do note that there is a monthly fee of RM10 and initial set up fee of RM200 for this type of account. such interest offset accounts are available in most banks over there.

for bros with idle cash, may be worthwhile to use such accounts to reduce interest. there is no need to offset in full, partial offset also can.

Such accounts are nothing new, in Sing, they have similar mechanisms like the mortgageOne from Standard Chartered Bank,...the difference in Sing is that the banks do not allow 100% offset...as usual la..in Sing everything maciam like must squeeze you until dry. if not, this forum will not even exist. hahaha.
 

Narmi

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hi narmi..so are you saying that they actually exchange 2.465 to the dollar eventho they display 2.43?

help me here man...

Hi yl bro

Yes that is correct. The display rate wAS 243rm. But they give 246.5 when i exchange. If u exchange more they give even better. Tip if u wanna exchnage to rm always ask how much the rate even tho it is on display big big. They will definitely quote higher than display rate. Then u can get even better deal by telling "Eh i wanna exchange $5k" for example. They wil give even higher than they initially quoted.
 
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