Tuesday, 14 October 2014

Monday, 13 October 2014

Thursday, 9 May 2013


http://sapnabhabi.blogspot.com

This is a new link.

And finally this young lady kicks me back into blogging.

posted by Jeyapalan.T.S.Mahesan {jeyapalantsmahesan.blogspot.com}

Saturday, 27 October 2012

Pushing the Property Market up!


There exists a Cartel amongst the Estate Agencies in Malaysia.
The Cartel, gets together & ensures that the property market prices are constantly kept at least 42% above the market value and/or above the level of financing that the Banks are willing to / able to grant.
It is a fantastic piece of economic & business practice!
If the market value is say RM100, 000/- they will promise the seller a selling price of RM130, 000/-. The Estate Agent gets 3% of RM130, 000 which is RM6, 900/- per unit.
Then, they will “connect” the buyer to a financial institution.
Under the current guidelines, the Financial Institutions will grant only 70% of the buyers Net Disposable Income, which maybe, about RM80K
So the purchaser has to have the balance RM50k.
Now, by the time the Sale & Purchase is executed, the Purchaser has put down at least 10% which is RM13, 000/-.
He / She would have paid legal fees of about RM1, 300/- at least.
There is then the “Stamp/Adjudication Fee”- about RM1, 300/-.
So he/she, is really “down” some approximately RM17, 000/-.
And at this stage, he/she cannot pull out, for he/she could very well loose the RM17,000/- or any part of it.
Somehow, he/she will find the balance purchase price, that is the difference between the purchase price.
Don’t forget, there are legal fees for the loan, about RM1,200/- and the stamp/abjudication for the loan documents( again about RM800/-)
So, the purchaser, really has purchased a HOME for RM130,000/- + RM1,300 + RM1,300 +RM1,200 + RM800/-=  approximately RM135,000/-.
Whereas if it was purchased at market value(RM100,000) it would been a total outlay of only RM 102,500/- perhaps , which would have been more affordable.
The Estate Agent is extremely happy.
He/She has made 3% of the Sale Price ( 1,300 x 3) , got a commission from the Lawyers who are desperate.
But:
  1. Has the EA been proper & conducted himself/herself, with due care for his/her client in accordance to the Act?
  2. Has the EA taken into consideration that the purchaser, would be very heavily burdened by the purchase for the rest of his/her life?
These are simple issues that the EA so – called profession must address.
The above is just an example of 1 unit in a very “hot” area in suburban KL, and the no of units involved in the whole Taman : 10,000 units that are being traded like pasar malam every day and thus we are having about 10,000 victims everyday.
And just to remind readers: The Land Use has not been converted to Residential(it is still Industrial) and there is no Strata Title issued.
The Developer/Land Owner has wound itself up! 

By CYLeong of SAMKIM MANAGEMENT CONSULTANTS.

posted by Jeyapalan.T.S.Mahesan {jeyapalantsmahesan.blogspot.com}

Friday, 31 August 2012

Theft & CBT by the MOF


Over the last few years, I have been on a journey of learning & discovery.I have attempting to understand what my bumi & my country is heading to.
This afternoon(31/08/2012), as I was relieved that last night’s gatherings all over the country has been conducted & concluded very well, and all were safe, it hit me like a steam roller – MY GOVERNMENT HAS/IS GUILTY OF THEFT & CBT , OFFENCES UNDER THE PENAL CODE.
And the principle perpetrator is The Minister of Finance.

This is the LAW:
1.All taxation is the responsibility of the MOF.
2.All taxes come from us the Ra’akyat.
3.The Taxes are the Trustee Responsibility of the MOF
4.This is spelt out in the Minister of Finance (Incorporation) Act, 1957.
  5. The same Act spells out what the MOF can & cannot do.
6.Then the MOF has incorporatd KHAZANAH NASIONAL BERHAD,
7.  Khazanah was incorporated under the Companies Act 1965 on 3 September 1993 as a public limited company and commenced operations a year later.
8.All the share capital of Khazanah is owned by the Minister of Finance Incorporated, a corporate body incorporated pursuant to the Minister of Finance (Incorporation) Act, 1957.
9  . The Auditor General, as required under the Constitution of Malaysia, submitted various reports that shows very clearly theft , cbt & wastages!
  10.Therefore, all “wrong doings” that have been recorded, are crimes committed by the MOF, and can should be prosecuted! 


Damn, OMG, what now?
I am going into hiding!!!

posted by Jeyapalan.T.S.Mahesan {jeyapalantsmahesan.blogspot.com}

Monday, 13 August 2012

Crime & Breakdown of Law & Oder

Yesterday Morning(12/08/2012), whilst I went to purchase my breakfast,having come down from the Hills, there were two policemen, buying "numbers" at the magnum outlet.
Ahmad & Hilmy, both with one stripe!
For reasons best known to them they asked me to choose a number for them, which I did, and they were off!!
At about 10pm on a sunday evening, I was at my computer, when the door bell rang.
My Maid came running to me and said that there were two uniformed policemen at the gate!
It was Ahmad & Hilmy!  The number I gave them struck RM100,000/-!!!
Huh!! Okay! They had RM1,000/- in an envelope & gave it to me!
I asked them to come in & have a tea!
They said: "We are on duty. But Tuan we will come back another time, soon!!!!"



Okay! So be it! to be continued....

posted by Jeyapalan.T.S.Mahesan {jeyapalantsmahesan.blogspot.com}

Monday, 25 June 2012

Ooi!, Malaysians!!!

It has been said that the Southeast-Asian Atlantis, provisionally called Sundaland because it now is the Sunda shelf, was the world leader in the Neolithic Revolution (start of agriculture), using stones for grinding wild grains as early as 24,000 ago, more than ten thousand years older than in Egypt or Palestine.
Before and especially during the gradual flooding of their lowland, the Sundalanders spread out to neighbouring lands: the Asian mainland including China, India and Mesopotamia, and the island world from Madagascar to the Philippines and New Guinea, whence they later colonized Polynesia as far as Easter Island, Hawaii and New Zealand.
The homeland of the Austronesian language family (Malay, Tagalog, Maori, Malgasy etc.) is located  in Sundaland and its upper regions which now make up the coasts of the Southeast-Asian countries, whereas most linguists maintain that southern China was the land of origin.
Another reason for not relying too much on the theories of the linguists is that Austronesian linguistics is a very demanding field, comprising the study of hundreds of small languages most of which have no literature.
Linguistic evidence is very soft evidence, and usually the data admit of more than one historical reconstruction, so I don't think there is any compelling evidence against a Sundaland homeland hypothesis. Conversely, archaeological and genetic evidence in favour of the spread of the Austronesian-speaking populations from Sundaland seems to be sufficient.
It is quite certain that some of these Austronesians must have landed in India, some on their way to Madagascar, some to stay and mix with the natives.
Hence the presence of some Austronesian words in Indian languages of all families, most prominently ayi/bayi, "mother" (as in the Marathi girls' names Tarabai, Lakshmi-bai etc.), or words for "bamboo", "fruit", "honey".
More spectacularly, linguists like Isidore Dyen have discerned a considerable common vocabulary in the core lexicon of Austronesian and Indo-European, including pronouns, numerals (e.g. Malay dva, "two") and terms for the elements.
It is suggested that an Aryan invasion into India came not from the northwest, but from the southeast.
The legend of Manu Vaivasvata saving his company from the flood and sailing up the rivers of India to settle high and dry in Saptasindhu.
Clearly, the origins of Vedic civilization are related to the post-Glacial flood, probably the single biggest migration trigger in human history.
The Tamils have a tradition that their poets' academy or Sangam existed for ten thousand years, and that its seat (along with the entire Tamil capital) had to be moved thrice because of the rising sea level.
They also believe that their country once stretched far to the south, including Sri Lanka and the Maledives, a lost Tamil continent called Kumarikhandam.
If these legends turn out to match the geological evidence quite neatly, our academics would be wrong to dismiss them as figments of the imagination.
But the Indian or Kumarikhandam on Sundaland has yet to be written that is the extend of India's history by thousands of years with the exploration of now-submarine population centres.
Another language family originating in some part of Sundaland was Austro-Asiatic, which includes the Mon-Khmer languages in Indochina (its demographic point of gravity being Vietnam) but also Nicobarese and the Munda languages of Chotanagpur, at one time possibly spoken throughout the Ganga basin.
It is the Mundas who brought rice cultivation from Southeast Asia to the Ganga basin, whence it reached the Indus Valley towards the end of the Harappan age (ca. 2300 BC). In this connection, that "barley cultivation was developed in the Indus Valley" (p.19), barley being the favourite crop of the Vedic Aryans (yava). Unlike the Mundas who brought rice cultivation from eastern India and ultimately from Southeast Asia to northwestern India, and unlike the Indo-European Kurgan people whose invasion into Europe can be followed by means of traces of the crops they imported (esp. millet), the Vedic Aryans simply used the native produce. This doesn't prove but certainly supports the suspicion that the Aryans were native to the Indus Valley.
Concerning the political polemic, the usual claim that the caste system with its sharp discrimination was instituted by the invading Aryans to entrench their supremacy is countered by the finding that even the most isolated tribes on India's hills turn out to have strict endogamy rules, often guarded with more severe punishments for inter-tribal love affairs than exist in Sanskritic-Hindu society.It is confirmed that in the Austro-Asiatic and Austrone-sian tribal societies, where many of India's tribals originate, inequality is deeply entrenched: "Yet the class structure which cripples Britain more than any other European state, is as nothing compared with the stratified hierarchies in Austronesian traditional societies from Madagascar through Bali to Samoa. (...) This consciousness of rank is thus clearly not something that was only picked up by Austronesian societies from later Indian influence." Social hierarchy is not a racialist imposition by the Aryans, but a near-universal phenomenon especially pronounced among Indo-Pacific societies including most non-Aryan populations.There is a very detailed and very strong case for the importance of the culture of sunken Sundaland for the later cultures in the wide surroundings. India too certainly benefited of certain achievements imported from there. What is yet missing is a similar study for the equally important and likewise neglected culture of the sunken lands outside India's coast.



posted by Jeyapalan.T.S.Mahesan {jeyapalantsmahesan.blogspot.com}

Wednesday, 20 June 2012

The Bank's Con on all of us!.Part 1

It is fascinating how after all these years, Malaysians cannot fathom of how they have been conned by their Banks & Insurance Companies>
Have you ever thought how Banks make Money?

From our deposits????

Pleeease!
This is the Con!

There is something called The Over Night Lending - Banks to Banks, Insurance Companies including.

Every day there is something called the Overnight Money Market, where all Financial Insitutions, that are deposit taking, will use our deposits and speculate, gamble & lend.

Bank Negara is fully involved and it is called"The Overnight Policy Rate"(OPR)
"the OPR will be set at the current interbank overnight rate of 2.70%."per day (from Bank Negara's Website)


Let us assume that one bank in Malaysia has in it’s coffers, thoroughout the Country in all it’s branches, some RM 10 million per day.
This is our monies that make up the RM10 million!!!

So , the said Bank will do an inter bank lending/overnight loan at 2.7% per day :

  • which is RM 270,000/- per day 
  • x 30 days = RM8,100,000/-
  • x 12 months = RM 97,200,000/-.

There are about 10 Banks in Malaysia.
So , every day, the 10 Banks earn RM270,000 x 10 = RM2,700,000/-

There are 10 insurance companies in Malaysia.
So everyday, the Insurance Companies earn             = RM2,700,000/-

Therefore, between Banks & Insurance Companies, they earn something like RM5,400,000/- per day, from our monies,they all ride on our monies, our hard earned, sweat & toil & tears.

What do we get in return??

That's Part 2.

http://www.freemalaysiatoday.com/http://www.themalaysianinsider.comhttp://www.asiasentinel.comhttp://www.ramscottacademy.com/

posted by Jeyapalan.T.S.Mahesan {jeyapalantsmahesan.blogspot.com}

Saturday, 16 June 2012

SAKMONGKOL AK47: UMNO and its hijacking of an Ancient Covenant.

SAKMONGKOL AK47: UMNO and its hijacking of an Ancient Covenant.

posted by Jeyapalan.T.S.Mahesan {jeyapalantsmahesan.blogspot.com}

steadyaku47: Is Anwar Ibrahim a corrupt man?

steadyaku47: Is Anwar Ibrahim a corrupt man?


posted by Jeyapalan.T.S.Mahesan {jeyapalantsmahesan.blogspot.com}

steadyaku47: NON PERFORMING LOANS (NPL), MOF FOREIGN AND LOCAL BANKS, BANK NEGARA, LAWYERS, DEBT COLLECTION AGENCIES, GANGSTERS, THUGS, AND NAJIB RAZAK

steadyaku47: NON PERFORMING LOANS (NPL), MOF FOREIGN AND LOCAL BANKS, BANK NEGARA, LAWYERS, DEBT COLLECTION AGENCIES, GANGSTERS, THUGS, AND NAJIB RAZAK

posted by Jeyapalan.T.S.Mahesan {jeyapalantsmahesan.blogspot.com}

Cyber.Chats

(a piece about how the powers that be – POTAB- having totally misread the impact of WWW:
having all these years mislead the Rakya’at, are now scrambling to cover up)


Pemandu blames media for public safety fears
(The Malaysian Insider) - Pemandu insisted today that the crime rate has been drastically reduced, pointing instead to “unfortunate” media coverage as the cause for heightened concerns over public safety.
 “If you divide by 365 days in a year, you have an average of 430 stories a day. You can more than fill the entire newspaper with crime,” Pemandu chief executive Datuk Seri Idris Jala (picture) said, referring to the 157,891 reports of crime last year.The minister in the prime minister’s department said it was “unfortunate” that the media has reported the crime rate has increased when in 2009 there were 209,825 reports.“I wish this (the reduction) was the story (in the media). When people tell me about a crime, I say I can tell them there are another 157,000 crimes. The point is it has reduced, but not to zero,” the senator added.
----------------------------------------------------------------------------
 The amazing feature about these comments, is that the Senator has only recently come to grips with Cyber Chats.
What he does not want to accept is the fact it is not the numbers 
( reduced or increased), 
but the AWARENESS of more people, 
across the Globe, in Cyber Space, 
of all matter of events, happenings ,
the concept of NETCITIZENS.
No longer can the POTAB hide real happenings. 
No longer does the Citizenzary accept the “Official Version”, 
for almost all of the time, it is a cover up!!!
There are many “networks” that is 
networking tools in Cyberspace and 
this feature thus increases 100 fold , 
the AWARENESS.
Coupled with this Awareness feature, 
there has developed the COMMUNICATION feature -  
we talk, we comment, we share, we say, we chat.
Whether the comments, chat, talks etc are proper or “correct”, 
is another issue, but we are now in communication, 
with almost 100,000 persons.
I had just yesterday began tabulating 
the number of persons on my facebook –
there are about 300 friends. 
Right but these 300 friends have another 300 each, 
hence it becomes geometrically astronomical.
Then there are the other “media” sites, 
I am linked/subscribe to! 
Each of these have its own “readership”.
My head went into a tail spin, 
realizing the impact my “cyber chats”.
Fundamentally , 
it simply means, 
we are now more AWARE!
When we are more aware, 
we QUESTION more.
Thus we become 
very difficult to be convinced/to be fooled.
Therefore, POTAB, please come clean.
Only then can you stand a chance come the 13th.PRU!




posted by Jeyapalan.T.S.Mahesan {jeyapalantsmahesan.blogspot.com}

Friday, 8 June 2012

UN for Malaysian NGOs



Malaysia: UN rights experts call for the protection of NGOs working for free and fair elections
GENEVA (7 June 2012) – A group of United Nations human rights experts called on the Government of Malaysia and other parties involved to respect and protect the legitimate work of an umbrella group of NGOs campaigning for reform of the electoral process in the lead-up to the general election, scheduled to take place by April 2013.
The UN independent experts on human rights defenders, freedom of peaceful assembly and freedom of expression urged the authorities to protect effectively one of the directors of the Coalition for Clean and Fair Elections (Bersih), Ambiga Sreenevasan, and other Bersih members, against acts of harassment and intimidation by various groups of individuals.
Ms. Sreenevasan has been the subject of credible threats against her life in the past months. She has been labelled by various groups as an enemy of the State and a traitor, who should be expelled from the country, because of her advocacy work with Bersih calling for reform of the electoral process. Effigies of Ms. Sreenevasan were also burned. Recently she had to cancel her participation in a public event because of fears for her safety.
“I am seriously concerned by these disturbing acts of harassment against a prominent woman human rights defender who is being targeted because of her legitimate human rights activities in Malaysia,” said the UN Special Rapporteur on human rights defenders, Margaret Sekaggya. “I urge the authorities to investigate thoroughly these allegations, hold the perpetrators accountable, and effectively protect Ms. Sreenevasan, and more generally, Bersih members.”
In addition, Ms. Sreenevasan, together with other organizers from the Bersih Steering Committee, has been sued by the federal Government in relation to property which was allegedly damaged during a rally organized by the coalition last April.
“Holding assembly organizers liable for the alleged unlawful conduct of others is not compatible with standards governing the right to freedom of peaceful assembly, and has a detrimental effect on the exercise of this right,” stressed the Special Rapporteur on the rights to freedom of peaceful assembly and of opinion, Maina Kiai. “I urge the Government of Malaysia to withdraw the complaint against her.”
“The Government of Malaysia should fully guarantee the right to freedom of opinion and expression of those advocating for electoral reform, and should ensure a safe and conducive environment for journalists and those monitoring and reporting on demonstrations”, emphasized the Special Rapporteur on the promotion and protection of the right to freedom of opinion and expression, Frank La Rue. “The rights to freedom of opinion, expression and peaceful assembly are fundamental pillars of democracy.”
“In view of the urgency and recurrence of the situation,” Mr. Kiai and Ms. Sekaggya added, “we would like to remind the Government of our requests to visit the country, which we believe will contribute to the realization of the rights in question in accordance with international human rights standards.”
----------------------------------------
For further information and media requests, please contact Guillaume Pfeifflé
(+41 22 917 9384 / gpfeiffle@ohchr.org)
For media inquiries related to other UN independent experts:
Xabier Celaya, UN Human Rights – Media Unit (+ 41 22 917 9383 / xcelaya@ohchr.org)
UN Human Rights, follow us on social media:
Facebook: https://www.facebook.com/unitednationshumanrights 
Twitter: http://twitter.com/UNrightswire
Google+ gplus.to/unitednationshumanrights 
YouTube: http://www.youtube.com/UNOHCHR


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Thursday, 7 June 2012

Terbongkar..!!! Anwar Ibrahim Beri Arahan Buat Kekecohan BERSIH 3.0



posted by Jeyapalan.T.S.Mahesan {jeyapalantsmahesan.blogspot.com}

5 Minute Before Tear Gas Fired At Bersih 3.0 Supporter



Finally, found this video clip.
Look carefully, when Saudara Anwar appeared - he kept indicating for the crowd to pull back!
The word/phrase that is repeated so many times is UNDUR, which means retreat,fall back, pull back!

Then suddenly , there was something that happened in front, which if one looks at the next clip , is that THE POLICE, opened the barricades, and the people surged forward alongside the Police!

So, Saudara Anwar, did not "hijack" or cause the barrier to be broken - So there!!!

posted by Jeyapalan.T.S.Mahesan {jeyapalantsmahesan.blogspot.com}

Tuesday, 5 June 2012

Cliff Richard And The Shadows The Final Tour - 40 - Move It.avi



posted by Jeyapalan.T.S.Mahesan {jeyapalantsmahesan.blogspot.com}

The Shadows Final Tour (part 13) Cliff Medley 2



posted by Jeyapalan.T.S.Mahesan {jeyapalantsmahesan.blogspot.com}

The Shadows Final Tour (part 12) Cliff Medley



posted by Jeyapalan.T.S.Mahesan {jeyapalantsmahesan.blogspot.com}

The Shadows - The Final Tour Part 1



posted by Jeyapalan.T.S.Mahesan {jeyapalantsmahesan.blogspot.com}

Cliff Richard & The Shadows 50th Anniversary - The Young Ones - Wembley ...



posted by Jeyapalan.T.S.Mahesan {jeyapalantsmahesan.blogspot.com}

The Shadows 4/7 - Time Is Tight - The Frightened City



posted by Jeyapalan.T.S.Mahesan {jeyapalantsmahesan.blogspot.com}

Vote Marking


All other matters(electoral reforms aside), there is one issue that has been bugging me, for the longest of time – VOTE MARKING.

On election day, one goes to the polling station, and the EC officials, will Check your name on the “list”, and then hand you the ballot paper & tick against your name.The Ballot Paper, has however a serial number, which is reflected on the List, and ticked against your name. Therefore, the EC knows who you vote for!

I never realised the signifance of this “feature” until some years ago, when someone from the “powers that be” actually did an analysis, of the voting “patterns”. It was a simple academic paper and I wondered how that analysis came about. That was when it was revealed!!!!

Race, Age, Socio – Economic, etc  and as proof, the history of my voting ( and that of my family) was provided for me!!!!

Therefore many mysteries are revealed.

For instance, it is possible to predict that in a particular constituency/centre, the number of votes(safe & not safe), based on the above. And thereon, “standby” votes/ballot boxes are made available!
Hot Damn! I told my self when the pieces fell into place recently.
Then, I read about the recent irregularities etc, and wonder to myself why is it that such  blatant/obvious discrepancies are ‘discoverable’?
Like just today, I read that YB Charles Santiago, is needing panadol as some 13,000 “voters” are new etc.
Hear me out on this possible hypothesis: These irregularities are meant to be discovered and then “cured” because the powers that be have already figured out the voting pattern, based on the ballot box serial numbers!

Only that 2008, defied all previous analysis, as the analysists, did not turun padang, to feel the pulse.
What I also believe is that the Malaysian Voter of this age, on account of the Net etc, is much more informed and “wiser”, and the concept of Bangsa Malaysia/Anak Buah Malaysia, is more real then the powers that be would be comfortable with.

From my silly walk abouts in my area, to buy food, newspapers, goring pisang, nasi lemak etc, all races, religions, socio economic  groups, there is so much camadrie , so much “poking fun”, convincing me of the fact as stated in the paragraph above!




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Sunday, 3 June 2012


Good Net People!

There are two “creatures” of modern life that gives me total stomach trouble/rubles!

The two are: The Share Market(Bulls & Bears etc and The Forex.)

For almost 50 years of my life(and I am now 59), these two matters , I have avoided like the proverbial plague!

But recently, thanks to the Net, a whole of informative material is available.

I now , for my own sake, put together, the matter of the Forex scence , in a simplistic fashion, that I hope will be a kind of “instruction sheet/power point presentation” that my “bosses” of the Academy I teach me are always wanting me to do, as far as Law is  concerned.

I love Economics, Banking & Finance( thanks to my late eldest brother, who made me as a child, read to him the thick books, whilst he prepared for his banking  exams!)

Whilst, I was placed to do a Degree in Economics at UM, in 1971, I elected to go for Humanities!

Anway, herein is something from the Net.

I have accredited it’s source & the writer, BUT I have removed various “remarks”, which whilst legitimate, detracts from the “core” understanding of the Forex Subject.

Here Goes:

By Awang Abdillah
Former Prime Minister Dr Mahathir Mohammad is an ambitious man who believes in the theory of mega economics.
He believed and still believes that by adopting a mega-based economic model, Malaysia not only could become a developed country by 2020 but would also become a strong nation at par with the Western powers economically and politically.
Hence, he was prepared to go international and take on the Western powers.
One of the fields that he was keen on was the global foreign exchange (forex) market where there is big money.
In fact Bank Negara, during the Mahathir administration, was involved in covert global speculative activities as early as in the 1980s possibly to test the waters.
Throughout the period (1990 to 1992), Britain’s economy was in recession where national output began to slide and unemployment rose.
Domestic demand fell including demand for imports. 
In 1992, the exchange rate of the British pound sterling was fixed under the European Exchange Rate Mechanism (ERM).
Unlike the Asian economic crisis of 1997-1998 where their (Asian) currencies were weak or vulnerable, in the case of the British Pound, despite the economic slump, the currency still commanded a comparatively strong exchange rate
However, pressure was mounting from many quarters for Britain to float its currency in line with the current (at the time) market situation.
Many quarters wanted Britain to adjust the value of the pound accordingly because the European countries believed the pound was overvalued.
Britain’s forex market appeared to be the focus of many speculators who wanted to profit from the market instability.
 Speculators would make or lose in a “free-for-all” market situation.
Mahathir, the then prime minister of Malaysia, ordered Bank Negara to speculate on the British pound sterling.
George Soros, the global forex player, was also speculating on the same currency but for different reasons.
But both shared a common desire.
They went for the kill.
The battleground was the London foreign exchange market.
Both believed that they were going to make money from the British.
One believed he could make fast and big money, the other wanted to profit from the expected fall of the pound.
Mahathir, who believed the Pound would appreciate took billions of US currency from Bank Negara foreign reserves fund (actual figure unknown).

Soros ,the “wiser” speculator who believed the British Pound would fall was not using his own funds. He borrowed from British banks to the tune of 10 billon pounds and changed the money to German Mark.
The moment of truth came when on Sept 16, 1992, Britain left the ERM.
Unable to stand the economic and market pressure on its overvalued Pound, Britain, instead of floating the pound, officially devalued its currency causing the pound to fall.
It was not what the European countries and Mahathir had expected.
Luckily for Mahathir the currency did not crash.
The British government had a two-pronged strategy – firstly to devalue the Pound to stimulate the economy through cheaper and hence higher exports and more costly imports thereby reducing imports in order to regulate the country’s general economic fundamentals.
Secondly after the devaluation, the sterling was automatically floated to regulate the market fundamentals.
Had Britain directly floated the pound, the erratic rise and fall would disrupt Britain’s plan to stimulate the economy although it may have helped the pound to appreciate which Mahathir had expected.
Consequently Soros, who took the loan from the British banks, repaid it in Pounds which was then cheaper and pocketed the difference of more than US$1 billion while Mahathir, lost about US$4 billion.
 Later in 1993, Bank Negara again lost another US$2.2 billion in speculative activities.
Malaysia’s total loss by this time stood at US$6.2 billion equivalent to RM15.5 billion (based on the exchange rate as at Sept 1992. US$1=RM2.5).
Bank Negara had abused the foreign reserves which were meant to finance imports, stabilise the ringgit and pay off foreign debts.
The British government made the right decision.
The devaluation made the pound cheaper thereby stimulating exports and made imports expensive.
The fall based on devaluation is different from a fall by floating.
The former is an economic adjustment to regulate the macro-economic fundamentals such as national output, employment, among others, while the latter is a market adjustment to regulate market forces such as the exchange rate of a local currency vis-a-vis foreign currencies and the share prices in the stock market .
Hence, once the nation’s currency has been devalued, it can be floated without the possibility of a currency crash because the effect of devaluation has already stabilised the country’s general economic fundamentals.
 Malaysia did not have the expertise in global forex speculation the likes of global forex player Soros.
Bank Negara is supposed to be the regulator of the financial market, not player/speculator.
It can use its own foreign reserves to go into the forex market in Malaysia in order to regulate and stabilise the ringgit, but it should not speculate in forex markets.
Foreign reserves of a country is a crucial item to service imports, regulate the country’s currency value and to pay off foreign debts.
Awang Abdillah is a political analyst, writer and FMT columnist.

Notes:
As a teacher & educator, the above piece, if we had a matter in Court, would be what is called EXPERT OPINION, and would help the Court understand the matter.
Please understand that the Bench does not know everything and we need to put it across as best as possible!

posted by Jeyapalan.T.S.Mahesan {jeyapalantsmahesan.blogspot.com}

MAGICK RIVER: The Remakable Anwar Ibrahim ~ by Gwo-Burne Loh

MAGICK RIVER: The Remakable Anwar Ibrahim ~ by Gwo-Burne Loh: Just think about it: Mahathir, the financial might of UMNO, the entire cabinet, the Police, MACC, the Judiciary (or at least a large part of...

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Sunday, 27 May 2012

The Seekers - A World Of Our Own(1968)



posted by Jeyapalan.T.S.Mahesan {jeyapalantsmahesan.blogspot.com}

Auction Properties


In my teaching  of Diploma in Estate Agency, in relation to Property Taxation, in particular, Stamp Duty & Real Property Gains Tax, I have uncovered many mis readings/wrong readings of LAW
It has been the “usual practice” to consider properties bought at auctions, to be subject to ad valorem stamp duty.

This is WRONG, & VOID at Law – no matter what any “learned persons” say!
 It is wrong simply because everyone seems to conveniently forget that the ORDER for SALE, which is the authority to auction the property, is an ORDER of The Hugh Court, pursuant to The National Land Code & The Rules of The High Court.
 ORDERS of The Court/Decrees etc IS NOT SUBJECT TO AD VALOREM DUTY.

Please read & understand S 417 of the National Land Code.
The Court, has the power & authority to ORDER, the Land Administrator, to cancel, alter, etc to give effect to the Judgement/Decree/Order!

In Commissioners of Inland Revenue v Angus (1889) LR 23 QBD 579, Lord Esher MR explained the same principle thus :
 And in respect of a judgment for specific performance, his Lordship held that such an order is not “conveyance”.  His Lordship said :

§  But let us consider what the doctrine of specific performance is. 
§  If the instrument is a “conveyance” in itself, why do you want a decree for specific performance? 
§  If the instrument has conveyed the property to the purchaser, he does not require specific performance of an agreement with reference to his own property which has been already conveyed to him. 
§  The fact that the instrument is one of which equity will decree specific performance, fixes it at once as an “agreement” and not as a “conveyance”. 
§  It would be a contradiction of terms to say that which requires a decree for specific performance is in itself a “conveyance” which ahs conveyed the property to the purchaser. 
§  If there has been a ‘conveyance” of the property, you do not require specific performance. 
§  In my opinion, therefore, however clear it may be that an instrument is an agreement of which a Court of Equity would instantly decree specific performance, if it were not performed by the vendor, such an instrument is not a “conveyance on sale” within the meaning of the Act, but is only an “agreement”.
Further, his Lordship explained the ambit of stamp duty law in the following terms:
§  If a vendor can convey the property sold to the purchaser without the execution of any instrument, he can convey it without paying any stamp duty under s 70. 
§  The subject may have the good fortune to escape the stamp duty, if he can get a conveyance of property sold to him without the execution of any instrument. 
§  But it is said that if the appeal be decided against the Commissioners purchasers will rest satisfied with an agreement of which specific performance would be decreed and will not go to execute a conveyance, and so the Crown will lose the stamp duty, and it is rather suggested that this would be cheating the Crown and committing a fraud. 
§  The Crown, however, must make out its right to the duty and if there be a means of evading the stamp duty, so much the better for those who can evade it. 
§  It is no fraud upon the Crown, it is a thing which they are perfectly entitled to do. 
§  The Crown cannot have the duty unless the parties to the sale choose to effectuate the transaction by an instrument which of itself conveys the property, and, if they choose to be satisfied with something less, the matter is not brought within s 70. 
§  I come therefore to the conclusion first that, if his instrument is an agreement of which specific performance would be immediately granted, still it is only an agreement.  Something more is required to convey the property.

           
It is therefore, very important that one understands the nature of an auction sale.
In respect of a judgment (court order, decree of court for specific performance), such an order is not “conveyance”.The fact that the instrument is one of which equity will decree specific performance, fixes it at once as an “agreement” and not as a “conveyance”.   

If property sold is conveyed by an instrument to the purchaser and after that conveyance the vendor keep fits, the purchaser’s remedy would not be by way of specific performance.
 The question is, whether the instrument which was laid before the Commissioners was a “conveyance on sale” within the meaning of Item 32 of The First Schedule. 

The term “conveyance on sale” (a “conveyance on sale” being one of the matters on which duty is imposed in the schedule to the Act, “agreements” being another), “includes every instrument whereby any property upon the sale thereof is legally or equitably transferred to or vested in the purchaser.” 
The first thing to be noticed is, that the thing which is made liable to the duty is an “instrument”. 

If a contract of purchase and sale, or a conveyance by way of purchase and sale, can be, or is, carried out without an instrument, the case is not within the section, and no tax is imposed. 
 It is not the transaction of purchase and sale which is struck at;
it is the instrument whereby the purchase and sale without an instrument, then the legislature have not reached that transaction. 

The next thing is that it is not every instrument which may be brought into being in the course of a transaction of purchase and sale which is struck at. 
 It is the instrument “whereby any property upon the sale thereof is legally or equitably transferred”. 
 The taxation is confined to the instrument whereby the property is transferred. 
 The transfer must be made by the instrument. 
 If a transfer requires something more than an instrument to carry it through, then the transaction is not struck at and the instrument is not struck at because the property is not transferred by it.
                
But let us consider what the doctrine of specific performance is. 

If the instrument is a “conveyance” in itself, why do you want a decree for specific performance? 
 If the instrument has conveyed the property to the purchaser, he does not require specific performance of an agreement with reference to his own property which has been already conveyed to him. The fact that the instrument is one of which equity will decree specific performance, fixes it at once as an “agreement” and not as a “conveyance”. 

It would be a contradiction of terms to say that which requires a decree for specific performance is in itself a “conveyance” which has conveyed the property to the purchaser. 
If there has been a ‘conveyance” of the property, you do not require specific performance. 
If property sold is conveyed by an instrument to the purchaser and after that conveyance the vendor keep fits, the purchaser’s remedy would not be by way of specific performance, but, if the property be personal property, by an action of trover;or, if it be real property, by an action of ejectment. 

Therefore, however clear it may be that an instrument is an agreement of which a Court of Equity would instantly decree specific performance, if it were not performed by the vendor, such an instrument is not a “conveyance on sale” within the meaning of the Act, but is only an “agreement”.
 If a vendor can convey the property sold to the purchaser without the execution of any instrument, he can convey it without paying duty. 
The subject may have the good fortune to escape the stamp duty, if he can get a conveyance of property sold to him without the execution of any instrument. 

But it is said that if the appeal be decided against the Commissioners purchasers will rest satisfied with an agreement of which specific performance would be decreed and will not go to execute a conveyance, and so the Crown will lose the stamp duty, and it is rather suggested that this would be cheating the Crown and committing a fraud. 
The Crown, however, must make out its right to the duty and if there be a means of evading the stamp duty, so much the better for those who can evade it.  It is no fraud upon the Crown, it is a thing which they are perfectly entitled to do.  
I come therefore to the conclusion first that, if his instrument is an agreement of which specific performance would be immediately granted, still it is only an agreement. 
Something more is required to convey the property.
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The same applies to a property acquired at an auction.

A Bidder auctions for three properties at an auction.

When, a person who has take a loan from the Bank, has defaulted, the Bank has to use the proper procedures as spelt out in the National Land Code.
One of the primary & fundamental requirements, is that the Bank has to state very clearly how much is owing to the Bank by the borrower.
Further, the defaulter/borrower, has the legal right, to pay the outstanding amount, even on the day of the Auction, although the “practice” does not allow him!!!!

It is the Court/Registrar, that grants the Order(Judgment/Decree) to auction the property.
It is the Court/Registrar, that is the authority who will execute the “Memorandum of Transfer” in favour of the successful bidder.

And, further more, the Bank is auctioning off the property to recover the debt that is owing to the Bank by the defaulter/borrower(S 16 (4) of The Stamp Act)

When the hammer falls, the successful bidder goes before the Registrar who will then execute the memorandum and when the bidder pays the full price(into Court), the instrument effecting the transfer to the bidder, will be the Court Order.

Thus, if the properties are sold six months later – there is no market price at acquisition, there is no market price at disposal.

The Form 14A, will provide the details of the Vendor/Bidder and the Order for Sale will be endorsed on the Title Deed.

The Consideration that the Bidder/Vendor had provided, would have been the “RESERVED PRICE”, not the market value.

Therefore, this time around, there will a straight forward ad valorem duty to be paid on the sale price, by the purchaser, but NO CAPITAL GAINS attracts.

Exactly the same applies in the case of property transferred upon divorce.

What happens if the Bidder had six months later, “transferred” the three properties to a) His Wife b)His Son, c) His Daughter.

And what happens if a)His wife is a house wife b) His Son is 17 years of age c)His daughter is 14 years of age, and the rental income from these properties are for the purposes of looking after the wife, the son and the daughter?

And what happens if, some two years later a) his wife sells the house to her brother, so as to pay for her medical/cancer treatment b)his son sells the house to his aunty(mother’s sister) so as to raise monies for his education c) his daughter, exchanges , with her school friend’s father, the house for a condo unit, to house the mother in her illness stage?

It is further vital to understand that “learned persons”, including persons setting the questions and markers, do not have a clue/have not bothered to understand the Law.


Therefore your answers must be carefully crafted.


www.ramscottacademy.composted by Jeyapalan.T.S.Mahesan {jeyapalantsmahesan.blogspot.com}