Thursday, August 27, 2009

Eon Bank & Uni.Asia - Wealth Xtra Assurance & Investment Account

Earlier this week, Dave said that he received his account value statement for his Wealth Xtra Investment Account which he purchased about 2 years ago from EON Bank. He did grumbled about the current value of the investment as the value had dropped about 40%. He even think to sell of the fund to get back the cash. The next day, he showed me the account value statement with Investment-Link Fund's Performance Report and the Uni.Asia insurance policy he purchased together with the investment.

After a details reading of the insurance policy and some googling, then I understood his Wealth Xtra Investment. It is a bancassurance product by Eon Bank with the purpose to provide protection and investment for their investors. The insurance coverage is 125% of the sum insured or the current Account Value, whichever is higher, upon death. For the investment, Dave invested in Uni Global IPO fund. At the current slow economic growth, the fund is not performing well.

After further understanding of the Wealth Xtra Assurance & Investment account, Dave decided not to sell of or surrender his policy. He decided to give more time for the fund to perform. He also said, 2 years ago, the officer from the EON Bank promoted this fund for him without telling him further details. What she mentioned was the Uni Global IPO fund will make money. After he signed up the policy, when he went to the bank to look for her for enquiries, she's no longer working there and other officer informed him to go to Uni.Asia office for enquiries. I can tell he really frustrated when the officer not able to explain to him accordingly.

I think things will be much better if the organization put their customers' interest first than their own interest. For this case, it's easy just to get the cash from the investors, get them to sign on the policy. But, later who will take care of them? Who will provide assistance when the real needs arise?

Dave said next time he will be extra careful when purchase a product which involved different assurance or investment product offered by different organization. Because, we don't trust them to handle our cash. I hate it when one party push to another party. I prefer to deal with a certain bank for their banking product sand another different insurance company for their insurance services.

Be careful before you sign on the dotted lines...

Monday, August 24, 2009

Rebate For TM Streamyx Connection Issues

I had been having broadband connection issue since 29 June 2009. That's about 2 months ago. On 19th August 2009, I was really mad because I can't get connected even though I tried since 7:30pm. At about 9:30pm, I called to TM100 and was very disappointed as when I pressed the Technical Support option, I can't seem to get to the Department. I don't mind to hold the line (usually for few minutes before the customer service answer my call), but that day, I totally can't get to hear the on-hold melody. The message was 'We are still waiting for your feedback'. After several trial and pressing all the option buttons, I managed to reache the Billing Department. I took the opportunity to request for rebate or adjustment for those days where I can't get connected. Then, the Billing Department passed me to the Technical Support department. Half way talking to the technical guy, the line got cut-off. And as usual, the technical guy never call me back. I was quite furious and I decided to write an email, a long complaint email to the help@tm.net.my. Towards the end of the email, I mentioned will bring up this matter to SKMM @ MCMC if TM can't solve my connection issue by this month.

The next day, in the afternoon, I received a call from TM Customer Care on my email content. I was a bit surprised as I never expect they will respond that fast. The customer care said that the reason for my connection was due to 'session hang'. Which I think is a mere excuse. Because I had been using this account for the past few years, and I don't face serious issue. The customer care even sent me an email on the matter.

The following day (Friday), another customer care called me from Billing Department and acknowledged that they'd received my request for rebate and will process for the rebate or adjustment due to the disconnection issue. That night, I received an email from TM said that they'll rebate about 1 month charges due to my connection issue since 29 June 2009. I was quite surprise with their prompt action.

Today, I still received different error messages when I try to log in, but at least, after the second or third trial, I can get connected.The problem now is the connection speed is very slow. I will monitor this situation, and if it get worse, I definitely will complain to TM again.

Do you face any broadband connection issues?

Thursday, August 13, 2009

How Much Do You Know About Unit Trust?

I know 88% about unit trust. How I got this score is through a quiz on Malaysian Investor website. Out of 9 questions, I scored 8 correct answers. Quite ok I guess :p Though I had been started reading on unit trust for the past few years, there are still a lot more to learn.

For those who are new to unit trust investment, you can check out the website and complete the quiz yourself. Most of the questions are basic knowledge on unit trust. If the answer is wrong, don't worry. The quiz will tell you the correct answer and with proper explanation.Would be better if you can read more on unit trust before start any of your unit trust investment. Don't rush for the investment and later regret on that investment.

Enjoy the quiz.

Tuesday, August 11, 2009

Malaysian Students - Will Your PTPTN Study Loan Be Sufficient?

For most Malaysian university students and parents, the main concern is not whether the students will be able to graduate with flying colours or not, but whether the student has sufficient financial support throughout his or her studies. I can understand this as courses fees and other courses materials can reach a few thousands for one semester. Basic living needs is another area where students spend big portion of their money.

For most Malaysian students (including me), we are considered lucky as PTPTN provide study loan for most courses and approved universities and colleges. The question is - Do these students know how to plan their financial wisely throughout their courses? PTPTN is doing a very smart control to their study loans. PTPTN only bank-in the needed amount in each semester. For my case, PTPTN pay the course fees and other fees to the respective university first. Only then, the balance will go to the student's bank account. In other way, PTPTN is helping the students to plan and monitor their finances.

No matter what, students must do their own proper financial planning throughout their study. They must plan a proper budget which includes course materials (books, special devices or tools, other references), PC & broadband, living and transportation charges and also other miscellaneous charges. With proper budgeting, PTPTN will definitely be sufficient for you to get your degree or master degree. With proper budgeting also, students not only have a piece on mind to concentrate on their studies but they might be able to prepare a special fund for the down payment of their first car as well.

Thursday, August 6, 2009

Will You Lend Money To Your Business Friends?

I don't like to receive SMS or phone call after midnight especially when I am deep asleep. Because usually it is an emergency and not a good sign. Last night, I was quite shocked when I got the SMS from a business friend asking to borrow some cash from me. I never expect she would think to borrow from me as we are not that close. We only have business link - the company where she works is our customer and what she said influences the company's decision maker. Furthermore she is a senior staff and she holds quite a high position. I never expect she'll be short of cash.

Today, very early in the morning, she called me. It was not easy to say 'NO' as the company where she works is one of our major customers. But, at that point, I know I had to reject her in a nice way. So, I said 'I am sorry to hear that but I don't have the cash'. She still insist that she needs it for some emergency and will return the cash to me within one to two weeks time. She said she has no one to look for, that's why she turned to me.

I repeated again, 'I am sorry, I don't have the cash'. I can sense she's quite disappointed. In one way, I feel quite bad that I didn't lend her the cash. But, on the other way, I can't accept the fact that she would borrow from me out of many of her friends and colleagues. Furthermore, my quick mind tells me that If I lend her RM5k today, next month she might come to me again and requesting for another RM5k. And this sensitive-money-lend-borrow issue will somehow affect our business relationship.

So, I decided to recommend her to a friend who is doing legal money lending business. She said she still prefer to get the cash from me, moneylender would usually require a lot of documentations and takes time. I told her, that would be the best solution for us as I prefer not to involve personal matter and work related matter. I am not sure whether she got the cash she needs or not. I hope she managed to solve her financial emergency issue. I also hope that she will learn to build an emergency account so that she will not turn to others for help when unexpected financial needs arise.

Do you lend money to your business friends or customer because you want to maintain your business relationship with them?

Wednesday, August 5, 2009

Does Money Bring Happiness?

If anyone would say "Money does not bring happiness", I would say "You are lying!" or "Give me all your money". Today, in our modern world, towards certain point, money does bring happiness to us. Can you bring food on the table without money? Can you be happy without a proper shelter for your family? Can you walk to office without paying for your car or other transportation methods? Can you read a blog without a computer and without your service provider? It is impossible to do all these without money, right? So, money does bring happiness to us. Money provides us with a comfortable shelter, healthy and nutritious food and proper clothes for us and our loved ones and some other luxuries which are now our necessity - a computer with (fast) Internet connection, a plasma TV with at least 50 channels?, a fully aircond home, a nice car and so many more. All these do bring happiness to us.

BUT, more money does not mean more happiness. It might has a reverse effect. Because the love for money might cause us to drift away from pure happiness, enlarging the gap between us and happiness. We must be able to control the greed of money from destroying the happiness that money can bring to us. We must appreciate and value money as an item which can make our life much richer and meaningful.

Thus, we must learn to manage and shape our financial future. Do not let money lead us through our life. We must lead our life with money as one of the tools to make our life to be more meaningful.

Monday, August 3, 2009

The Return From My Public Dividend Select Fund (PDSF)

Recently I received my annual statement of investment for my first unit trust, Public Dividend Select Fund (PDSF) which I invested in May 2005, with only RM1K. I was a bit surprised as there is a dividend of RM91.03 for financial year ended 31 May 2009. I am surprised because in this bearish market, Public Dividend Select Fund still can perform quite well and helping its investors to gain some dividends. I must say that I am impressed with the way the fund managers manage the fund.

I am not expecting a huge return from any of my unit trust funds for 2009 as I know the market is slow and very conservative. I am thinking to top up my Public Dividend Select Fund. Being a normal investor, I do feel a bit regret that I did not top up my PDSF between Oct08 to Feb09 whereby the unit price is only slightly more than RM0.20. For last Friday (31 July 2009), the unit price is RM0.2557. I notice the unit price is climbing up quite fast. It is time for me to consider whether or not to top up my PDSF.