Malaysia’s Financial Blogger | imDavidLee.Com

Buying And Selling Property Procedures

After considering several places and you have decided to buy a house and the price is agreed by both parties, you will need to pay some earnest deposit (min 2%) for booking purpose. My advice, don’t pay the 10% straight, just in case you changed your mind later.

After paying the earnest deposit, you will need to appoint your lawyer for the Sales & Purchase Agreement. It may take up to 2 weeks to prepare. Once the SPA is ready, you will need to make the balance 8% of the purchase price upon signing of SPA. (Assume your applied loan is 90%)

Besides, you must prepare some funds to pay the legal fees for S&P(Travelling, Stamping, Photocopying, Miscelllanous fees), which are relied on the purchase price of your property. Basically you should be able to estimate your lawyer fees based on the following:

Note: This is payable to your lawyers to get the land title transferred to your name.

What To Do After Signing The Sales And Purchase Agreement?

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Lower EPF Contribution, Good or Bad?

The reduction of the employee contribution to EPF from 11 % down to 8 % will be made automatically, effective from January 2009 until December 2010. The total contribution is still at a reasonable rate of 20%, which is 12% from the employer and 8% from employee. You will have to fill in the forms if need to maintain 11% employee contribution as before.

*Just for your information, EPF has the highest interest rate, follow by Fixed Deposit. Except in 1997 where the Fixed Deposit has higher interest rate than EPF.

Which Option Will You Choose? 11% or 8%?

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How To Report Phone Fraud ?

With the rapid development in telecommunication, numbers of prank calls have also increased across the world. Some people like to make prank calls to others without worrying about other’s feeling. I did receive a lot of prank calls from survey company and sometimes I may feel it was annoying and lost concentration during my working hour.

I have conducted research through the Internet and found that Report Phone Numbers is a good solution where you can recognize and report annoying phone calls and callers.

DiGi Free SMS Service

I strongly believe that there are still a lots of Digi user do not know that there has a great opportunity to send free SMS from Digi site to a mobile phone everyday. Yet, this is limited to only 3 SMS per day and you are restricted to send to Digi number only. For me, it’s better than nothing and it’s still considered a great deal.

What Should I Do To Get DiGi Free SMS Everyday?

I suggest to any Digi user to go Digi Site and register their number there. Then you will get a login password through your handphone within few seconds. Login with your mobile number and password then you can send up to 161 supporting characters per SMS.

What Terms & Condition Should Be Followed?

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Why Buying Property Is Better Than Stock ?

Property is like the stock market; you have dozens of different classes. With property you have residential homes, hotels, commercial building, industry and etc.

A bank will lend you money to buy a MYR 200,000 house, but the same bank will not lend you MYR 200,000 to buy shares. This is because property is an asset, which can be sold to pay off the loan. So, you no need to worry so much with the financial assistance if you really make decision to buy a property for investment.

As you can see, property market boom over coupled of years. With making money property, the rental income that gained should ideally be sufficient to cover the cost of financing and maintaining. With the steady increase in property price, property investment provides a safer way to grow your wealth.

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Citibank Cash Back Credit Card

People will spend more with credit cards than cash. When one restaurant started to allow people to use credit cards, the average sale will be increased as well. I own multiple credit cards but currently concentrate on Citibank Cash Back credit card that provides me more privileges. Ideally, we should only pick the most suitable credit card for our lifestyle.

Know More On Cash Back Credit Cards

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Will Malaysia Car Price Drop ?

It’s common sense when thinking about fuel price hike, for sure the car drivers will suffer most. Inflation issue hit us more badly since goods and food price will be increased prior to chain effect.

During this economic crisis period, company profit gained may not be so good, and the possibility of firing employee are very high, and if one do not have stable income then they may face financial burden in life. This is the reason why I can see a great number of people post to sell their favorite car at a few popular website these days. (e.g mudah.com.my, my.88db.com)

Yet, what do you think about Malaysia’s car price? Will the new car price drop instantly? I just know that the hire purchase rate for new car increased sometimes ago. Could it affect demand in this weaker economy? Is it good time to buy a new car? Do you consider about Malaysia’s used car? As far as I known, hire purchase rate for used cars are from 4% to 5% per year. The current rates are much more lower if compared to 7% to 8% during the financial crisis in 1998.

I do feel that Malaysia country full of rich people because they can afford to buy luxurious car even their income is not so good. Is it reasonable to pay more for the high price car like Mercedes, BMW, Toyota, Honda etc in Malaysia since we are enjoying fuel subsidy? If compare to our neighbors countries like Singapore and Thailand, their car prices may not be so high !!!

Reason Why I More Prefer Used Car

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