Happy New Year, 2012

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This is wishing everyone a prosperous and more importantly a peaceful New Year. For some, 2012 is really their doomsday as marks the end of some important favours and privileges they have been enjoying. For some, it is just another number with no specific meaning other than to carry on with life. For some, it is an opportunity to express gratitude to God for being able to breath and live another day, realising that they do things in faith and knowing that there will always be hope and answer when everything seem to be falling apart.

For some, and I mean for people of who live in Malaysia, it is yet another opportunity to be thankful for making a living in a peaceful country. And that, I believe, happen that way it is because of love.

You love your Country,
You love your Neighbours,
You love your Creator.

If 2011 has been a bitter year, remember there's always something sweet worth looking back to. If it was an abundance of blessings, remember you owe it to yourself to think about the less fortunate. It's about how you deal with obstacles and the favours at hand.

HAPPY NEW YEAR AND GOD BLESS YOU MALAYSIA!

Kuala Lumpur
01.01.2012
00:22am

More Than 235,000 Individuals Declared Bankrupt

Ouch! Really?

Yes. The number of bankrupt individuals in Malaysia is almost a quarter of a million. 235,908 individuals to be exact, according to the Department of Insolvency.

Is this figure alarming? According to the Director-General of Insolvency Department, it is, and it should be to us, too.

The department statistics show that there are 41 individuals declared bankrupt every day! At this rate, by the end of this year there would be more than 238,000 bankrupts and if there's no immediate bold action this could well reach half a million by 2020 when we anticipate the country to have attained developed nation status.

Daily Express, Malaysia.

"A bankrupt is someone who has officially declared that he cannot pay what he owes. In Malaysia, the minimum amount of outstanding debt amount to initiate bankruptcy is RM30,000. Malaysia’s bankruptcy law is based on English law and comes under the Bankruptcy Act 1967." - malaysia.gov.my

The main causes for declaring the 235,908 individuals bankrupt are:
1. Hire purchase, 26%
2. Personal loan, 21%
3. Housing loan, 14%
4. Others - business loan, corporate guarantee,
- wondering where the C.Card defaulters came under.

Between 2005 and October 2011, about 14,000 cases were discharged of bankruptcy, meaning for each discharged case there are 6 others being declared bankrupt, (Ratio 1:6.4). This is not good at all from social point of view, more so with our aspiration to progress and to prosper at higher pace towards 2020.

The government is reviewing the Malaysian Bankruptcy Act 1967 to assist those who were declared bankrupt to continue with life without the debt burden. But if people don't take bankruptcy seriously and think that they can get away from debtors and start fresh with their lives by filing for bankruptcy, think again. If being bankrupt makes life no better than before, don't opt for it.

Think about the THREE main causes for bankruptcy and borrow only what you can afford. Live within your/our means.

Talking about living within your means, how about making one a resolution for the new year? Could be a good idea.

Reference: Malaysia Department of Insolvency

Renewal Energy Sector to Create 50,000 jobs

This is the expected amount of jobs created by RE sector come 2020.

In 2010, The Star cited experts estimation of creation of at least 52,000 jobs from the construction, operation and maintenance of renewable energy plants in the country by 2020.

Earlier this month, New Straits Times carried an article stating a more conservative figure by economist, estimating 50,000 jobs created by RE plants. If we are to spread this over the course of 9 years, that would be about 5,000 to 6,000 jobs created every year; a very interesting prospect for an emerging economy.

This is very much possible.

The RE sector is fast gaining ground as a new growth area for many countries with the potential it presents environmentally and economically. It plays a major role in meeting energy needs, making it possible for businesses to reap energy cost savings while combating global warming. Currently, Malaysia is world 3rd largest producer of solar cells after China and Germany. Malaysia already already have companies across the entire value chain, from silicon production to solar cell manufacturing and module assembly.

Source: Ministry of Information Communications and Culture, Malaysia.

With the committed amount of fund for the rolling out of the first FiT incentive for 2012 - 2014, Malaysia is on the right direction to achieve a targeted revenue of at least RM70 billion from the private sector by 2020.

What does this means to us?

That means more new talents and skills, especially in RE sector, would be needed so much sooner than later. We do not want to go into an industry we have less talent of and end up hiring people from other countries to do things for us. The targeted quantity must be matched with the right quality of our human capital.

It is an opportunity for us to learn new technology, to perfect an existing method to be efficient and be the largest producer of solar related products.

Why not.