Showing posts with label Rules. Show all posts
Showing posts with label Rules. Show all posts

Tuesday, November 18, 2014

RE: Malaysia vs Germany

Hey guys!!

So we always seem to want to explore and learn about different types of cultures right?
I mean, how about the drinking culture that goes "ole ole!" when a  beer is raised? Sounds October fest enough to you?

Well today I have something interesting.

Lets compare between Penang and Germany is the terms of "Working style"

Here is an article to brighten up your eyes...err...work; haha!

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Why Germans Work Fewer Hours But Produce More: A Study In Culture

When many Americans think of Germany, images of WWII soldiers and Hitler often come to mind. But what many people don’t realize is that Germany is the industrial powerhouse of Europe, and is a leading manufacturer of goods for export to developing Asian nations. We don’t hear about the superiority of German engineering in Volkswagen commercials for nothing!
The economic engine of the EU, Germany single-handedly saved the Eurozone from collapse in 2012. At the same time, German workers enjoy unparalleled worker protections and shorter working hours than most of their global counterparts. How can a country that works an average of 35 hours per week (with an average 24 paid vacation days to boot) maintain such a high level of productivity?

Working Hours Mean Working Hours

In German business culture, when an employee is at work, they should not be doing anything other than their work. Facebook, office gossip with co-workers, trolling Reddit for hours, and pulling up a fake spreadsheet when your boss walks by are socially unacceptable behaviors. Obviously, in the United States these behaviors are frowned up on by management. But in Germany, there is zero tolerance among peers for such frivolous activities.
In the BBC documentary “Make Me A German“,  a young German woman explained her culture shock while on a working exchange to the UK.
“I was in England for an exchange… I was in the office and the people are talking all the time about their private things… ‘What’s the plan for tonight?’, and all the time drinking coffee…”
She was quite surprised by the casual nature of British workers. Upon further discussion, the Germans reveal that Facebook is not allowed in the office whatsoever, and no private email is permitted.

Goal-Oriented, Direct Communication Is Valued

German business culture is one of intense focus and direct communication. While Americans tend to value small talk and maintaining an upbeat atmosphere, Germans rarely beat around the bush. German workers will directly speak to a manager about performance reviews, launch into a business meeting without any ‘icebreakers’, and use commanding language without softening the directives with polite phrases.Whereas an American would say, “It would be great if you could get this to me by 3pm,” a German would say, “I need this by 3pm”.
When a German is at work, they are focused and diligent, which in turn leads to higher productivity in a shorter period of time.

Germans Have a Life Outside Work

Germans work hard and play hard. Since the working day is focused on delivering efficient productivity, the off hours are truly off hours. Because of the focused atmosphere and formal environment of German businesses, employees don’t necessarily hang out together after work. Germans generally value a separation between private life and working life.
The German government is currently considering a ban on work-related emails after 6pm, to counter the accessibility that smartphones and constant connectivity give employers to their employees. Can you imagine President Obama enacting such a policy in the United States?
To occupy their plentiful Freizeit, most Germans are involved in Verein (clubs); regularly meeting others with shared interests in their community. Common interests in Germany include Sportvereine (sports clubs), Gesangvereine (choirs or singing clubs), Musikvereine (music clubs), Wandervereine (hiking clubs), Tierzuchtvereine (animal breeding clubs – generally rabbits/pigeons) and collectors’ clubs of all stripes. Even the smallest village in Germany will have several active Vereinen to accommodate residents’ interests. Rather than settling in for a night of TV after work, most Germans socialize with others in their community and cultivate themselves as people.
Germans also enjoy a high number of paid vacation days, with many salaried employees receiving 25-30 paid days (the law requires 20). Extended holidays mean families can enjoy up to a month together, renting an apartment by the seaside or taking a long trip to a new, exciting city.

Business Respects Parenthood

Germany’s system of Elternzeit (“parent time” or parental leave) is the stuff of fantasy for most working Americans. The United States does not currently have laws requiring maternity leave, while Germany has some of the most extensive parental protection policies in the developed world. The downside of these maternity leave benefits is that employers may avoid hiring women (with the fear that they will take advantage of the extensive benefits), and German boardrooms are consistently male-dominated at a higher rate than other developed nations, although the government is working to eradicate this trend. The financial benefits of staying home (from both Elternzeit and Elterngeld or parents’ money programs) are often too good to pass up for German mothers, and can lead to stagnant or non-existent careers.
Since “at will” employment does not exist in Germany, all employees have contracts with their employer. Parents who have been gainfully employed for the previous 12 months are eligible for Elternzeit benefits, which include up to three years of unpaid leave with a “sleeping” contract. The employee is eligible to work part-time up to 30 hours while on leave, and must be offered full-time employment at the conclusion of the parental leave. Parents may also choose to postpone up to one year of their leave until the child’s 8th birthday. Either parent is eligible for parental leave, and many couples make the choice based on financial considerations.
In addition to the preservation of the employee’s contract, the state will pay up 67% of the employee’s salary (with a cap of 1800 Euros per month) for 14 months. Parents may split the 14 months however they choose. These benefits apply equally to same-sex couples.
Have you picked your jaw up off the floor yet?

Germany-landscape-germany-3923222-1024-768

Put Some German In Your Office

The German work culture is very different from the average American office, but there are certainly lessons to be learned from our German counterparts. The diligent focus Germans bring to their working life is to be admired. Separating work from play can help us lead a more balanced life; putting the phone down after hours gives us a mental break from stressing about work, and we can return to the office refreshed in the morning. When it’s time to get something done, closing Facebook and turning off push notifications helps keep our minds quiet and the flow steady. Direct conversation can lead to increased efficiency, and more clarity of communication among team members.
Americans often equate longer hours with increased production and superior work ethic, but examining the German model makes one wonder: When it comes to time at work, maybe less really is more!

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Wow, what a read right?
So after reading this...what do you think of your own working style now?
Please share below :)

source

Thursday, May 15, 2014

RE: How much do you need to make in Malaysia to buy / purchase a new house?

How much does one really need to make to buy a house in Malaysia?

This article that i recent read really sheds a good amount of light on this subject:

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The high income groups can afford to buy a property, the lower income groups can get help from the government. Where does that leave the middle income groups?
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Image via: sunwayproperty.com

According To The Government's Skim Rumah Pertamaku (SRP), An "Affordable" House Is Priced At A Maximum Of RM400,000

(Credits: Last updated by judithyeoh 3 months ago)

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  • Just 4-5 years ago (Date of writing: Feb 2014), it was actually possible to own a decent-sized and decent quality condominium unit in urban centers like KL / Petaling Jaya / Johor Baru / Penang for RM200,000. From 2010 up till 2012, the government had considered the price bracket of RM220,000 to be within the “affordable” housing range. This was evident when they first launched the My First Home / Skim Rumah Pertamaku (SRP) for houses up to RM220,000.

  • However, towards the tail end of 2012, it was becoming increasingly evident that houses for that price were becoming more of a rarity. Genuine first time house buyers were gradually finding themselves priced out of the market. Recognizing the changing property price landscape, the government in 2013 bumped the maximum price range for qualifying for SRP up to RM400,000.

For Lower Income Groups, RM400,000 Is Too High To Be Considered "Affordable" While Those Living In The City Can Hardly Find An Acceptable Standard Of Housing At That Price

(Last updated by meimeichu 3 months ago)

  • The move garnered ridicule from both sides of the spectrum for different reasons. On one end, lower income groups found it laughable that a price tag of RM400,000 for a house could even be considered “affordable” as it was far beyond their reach. On the other hand, the younger and more urbane groups who were striving towards their first home derided the ceiling price of RM400,000 as being out of touch. Their contention was that prices for an acceptable standard of housing was already priced beyond RM400,000.

  • Most new housing units are now priced well above RM400,000, rendering it unattainable to all those in the middle income group. New launches now are often priced at RM400,000 and above. In hotspots like Penang and Kuala Lumpur, the “cheapest” could be a minimum of RM500,000 per unit. So, what is the reason behind these escalating prices?




"While Lower Income Groups Can Apply For Government Housing Schemes And Subsidies, The Middle Income Groups Are Trapped"

(Last updated by meimeichu 3 months ago)

  • This is the group that is stuck in the middle income trap, they do not qualify for low cost housing and yet, they could not afford the supposed “medium cost” residential projects. This group will only be able to afford housing priced at RM200,000 per unit and above but sadly, there are not many such properties in the market.

  • For the lower income group, they can apply for the government’s public housing, low cost and low medium cost housing projects. These projects are only meant for the lower income but what about those who are not eligible for these projects?

The Three Main Things To Consider When Determining Your Housing Affordability Are: 

  1. Available Cash
  2. Loan Affordability
  3. Monthly Income



To determine an affordable price point for your first property, there are a few things you need to consider. Some of these considerations include, your monthly income, cash amount you have available, and how much you can borrow.

Your loan amount depends on a number of things, including the market value or purchase price of your house, the type of property (e.g. residential or commercial), the location of the property, and your profile (i.e. age and income level).

1. AVAILABLE CASH: The Largest Upfront Costs Of Buying A Home Is The 10% Down Payment

Last updated by judithyeoh 3 months ago

  • Downpayment: 10% of the total purchase price OR the difference between the loan amount and the purchase price.

Besides The Downpayment, Homebuyers Must Also Set Aside 10% Of Their House Price To Pay For Ancillary Costs

(Last updated by meimeichu 3 months ago)

  • The National House Buyers Association: Additionally, we have always stressed that homebuyers must set aside up to 10% of the house price to pay for ancillary costs such as legal fees and stamp duty, and do not expect them to be burdened by these things as it is part and parcel of buying a house.

  • 1) Stamp duty for transfer of ownership title (also known as memorandum of transfer or MOT)
    2) Sale & Purchase Agreement (SPA) legal fees
    3) Stamping for SPA – Less than a hundred Ringgit
    4) SPA legal disbursement fee – A few hundred Ringgit
    5) Loan facility agreement legal fees
    6) Stamp duty for loan – 0.5% of loan amount
    7) Legal disbursement fee for Loan Facility Agreement – A few hundred Ringgit
    8) Fee for transfer of ownership title – A few hundred Ringgit
    9) Mortgage Reducing Term Insurance – Think of it as a life insurance for your home loan. It can come up to RM1,000 or more, but this may be optional with some banks.
    10) Government Tax on Agreements – 6% of total lawyer fees
    11) Bank processing fee for loan – RM200
    *Actual figures may differ.

In The Scenario Of A RM400,000 House Purchase, The Initial Entry Costs That A Homebuyer Must Pay Upfront Is RM55,020

Last updated by meimeichu 3 months ago



Firstly, are the entry costs of purchasing a house. The table above illustrates the kind of up-front cash one must have to purchase a house in a given price range. There is the standard 10% down payment, along with the rest of the Legal Fees and Stamp Duties which follows a scheduled fee structure.

2. LOAN AFFORDABILITY: If A RM400,000 House Is Financed At 90% Loan, The Monthly Instalment Needed To Pay Over 30 Years Is RM1,824

Your loan amount depends on a number of things, including the market value or purchase price of your house, the type of property (e.g. residential or commercial), the location of the property, and your profile (i.e. age and income level).



The table above indicates the estimated minimum level of household income one must have to qualify for a loan of the given amount in the year 2014. It also shows clearly the estimated monthly installments one must pay. These calculations have not even taken into consideration any other commitments that you may have!

Most Banks Stipulate That Borrowers Repay Their Home Loans In Full Before They Are 65 - 70 Years Old

Last updated by meimeichu 3 months ago

  • Most banks stipulate that borrowers repay their home loans in full before they are 65 or 70 years old.

3. MONTHLY INCOME: How Much Do You Need To Earn A Month? The Total Monthly Instalment After Factoring In Your Existing Bills SHOULD NOT EXCEED 70% Of Your Net Income

(Last updated by judithyeoh 3 months ago )

To gauge the maximum property price you can afford, it is always best to ensure that the total monthly installments on all your outstanding loans, and your prospective home loan do not exceed 70% of your net income. Net income refers to your income after deductibles, such as income tax and EPF.


According To This Profile, A Homebuyer Looking To Purchase A House At RM400,000 Should Earn A Net Monthly Salary Of RM3,500
 (Last updated by meimeichu 3 months ago)

Based on the example profile, the purchaser is eligible for the maximum home loan tenure at 35 years. For borrowers above 30 years of age, the maximum tenure is tied to a borrower’s age. Most banks stipulate that borrowers repay their home loans in full before they are 65 or 70 years old.
imoney.my


From the calculation above, the monthly installment and other debt commitments do not amount to more than 70% of monthly net income. Hence, with a net monthly salary of RM3,500, you are most likely able to afford a RM400,000 property.

According To A Survey By Sime Darby Property Bhd, The Average Monthly Household Income Needed To Own A House In The Klang Valley Is RM14,580
(Last updated by judithyeoh 3 months ago)

You must have an average household income of RM14,580 a month to afford a home in the Klang Valley, according to a recent study. The study – spearheaded by Sime Darby Property Bhd in collaboration with the Faculty of Built Environment of Universiti Malaya – takes into account the current household spending trend, price of homes and mortgage rates.
thestar.com.my

It found that certain groups of buyers interested in strategic areas can have access to houses that are priced at 56 times their household income.

The study also found that this same group can afford to spend up to 26% of their monthly household income to service a mortgage.

thestar.com.my

The Good News Is First Time Homebuyers Could Be Eligible For These Incentives:
(Last updated by meimeichu 3 months ago)


1.If you are a first time buyer, there are certain schemes and methods that you can take advantage of to ease your burden of saving up enough cash. These include:
  1. A 50% Stamp Duty Discount on Sale and Purchase Agreement for properties up to RM400,000
  2. Skim Rumah Pertamaku, which allows you to take a 100% loan for properties up to RM400,000, negating the need to pay the initial 10% down payment
  3. KWSP’s scheme that allows you to withdraw money from your EPF Account II to help pay for the down payment of the house. 

The Government Has Recently Launched The Skim MyHome 2014 To Provide A RM30,000 Subsidy For Eligible Homebuyers

(Last updated by meimeichu 3 months ago)

source

Monday, February 10, 2014

New Rules in housing/ real estate in buying and selling

Whats the latest with Penang housing laws and updates?
After the DAP took over Penang, they have been making lots of changes and improvement

Here is one to shout about..in fact, even scream! Yes..they have changed the rules again...and allot of people need to readjust their spending/ investing. The rules of the investment game has been tightened and speculating investors are now looking at a very hard time...

Trading houses/ real estate is now going to be such a breeze now and its going to take time

Well, to me I say: Kudos to the Penang gomen for implementing these rules
Penang will see more stable property/ real estate growth in the near future because of this
Sure...there are some angry speculators but hey, you can't please all right?
 
Don't burn the whole forest just because you want a tree - think of others too!

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The state of Penang is set to enforce new housing regulations on the proposed date of February 1, 2014.
At its core, the new regulation is designed to minimise speculation in the state’s property market and to ensure public housing and affordable homes are accessible to low and middle-income first-time home buyers.

The new regulation affects citizens and non-citizens buying low cost homes (up to RM42,000), low-medium cost homes (up to RM72,500), affordable homes on the island (below RM400,000), and affordable homes on the mainland (below RM250,000) and covers all past and future purchases.
Our infographic below illustrates the new housing regulation and restrictions imposed on home buyers.

iris (1)
Homeowners who wish to sell their house within the 5 or 10-year lock-in period must first make an appeal to the state government. Additionally, these houses can only be sold to “listed buyers” which are certified middle-income individuals registered with the state government’s Housing Department.


source: http://www.imoney.my/articles/penang-new-housing-rules