Living life to the fullest

Chan, an avid mountaineer and myelofibrosis patient, with a photo of himself (in red jacket) and fellow climbers at the summit of Mount Kinabalu. Photo: UU BAN/The Star >>

Despite having a rare blood disorder, Tan Sri Chan Choong Tak not only continued his active lifestyle , but also took up mountain-climbing.

FORMER Dewan Negara president Tan Sri Chan Choong Tak’s motto in life is to live it to the fullest.

Not surprising then that among his many accomplishments are two Malaysian Book of Records titles as the oldest Malaysian to reach the top of Mount Kilimanjaro’s Uhuru Peak (on Aug 31, 2003, at the age of 70) and the oldest Malaysian to reach the top of Mount Kinabalu’s King George Peak (on Aug 29, 2004, at the age of 71).

Uhuru Peak is the highest point on Mount Kilimanjaro, which is the tallest freestanding mountain in the world (from sea level) and the tallest mountain in Africa, while King George Peak is located on the more challenging and lessclimbed Eastern Plateau of Mount Kinabalu, Sabah.

What makes these two records more significant – aside from the impressive fact that Chan only took up mountain-climbing in his sixties – is that he was suffering from a rare bone marrow disorder at the same time.

His condition, primary myelofibrosis, is one of a group of diseases called myeloproliferative neoplasms, which are caused by abnormal production of blood cells in the bone marrow.

In the case of myelofibrosis, the problem lies in the abnormally-increased production of megakaryocytes, which are the cells that directly give rise to platelets. This results in an initial increased number of platelets in the body.

Cytokines – protein growth factors that are produced by megakaryocytes – are also correspondingly increased.

And as these cytokines are what stimulate the bone marrow’s fibroblasts to produce collagen, this results in an excessive amount of collagen being made.

The collagen deposits in the bone marrow as webs of fibre – similar to scar tissue on the skin – resulting in the disease’s characteristic fibrosis of the bone marrow.

With the collagen taking up so much space in the bone marrow, regular blood cell production is disrupted.

Red blood cells (RBCs) are usually decreased in number and abnormally formed, resulting in anaemia, while white blood cells (WBCs) are abnormal and immature, resulting in increased infection rates.

With production of blood cells in the bone marrow disrupted, the spleen, which is the body’s secondary supplier of blood cells, steps up to meet the body’s needs.

This extra work usually causes the spleen to enlarge (splenomegaly), resulting in pain or a feeling of fullness below the left rib.

Occurring commonly in those above 50 years of age, myelofibrosis is caused by a spontaneous genetic mutation (i.e. not inherited) in the affected person’s blood stem cells. This is what causes the uncontrolled production of megakaryocytes.

The cause of the mutation itself in primary myelofibrosis is, as yet, unknown.

Accidental discovery

As the symptoms of myelofibrosis, like fatigue, shortness of breath, pallor, frequent infections and easy bruising, are quite vague, diagnosis can be quite difficult.

In Chan’s case, he did not notice any signs or symptoms of myelofibrosis prior to his diagnosis.

In fact, it was a combination of a road accident and his wife, Puan Sri Cecelia Chia’s sharp eyes that alerted them to the possibility of a problem.

He shares: “My son gave me a racing bike for my 60th birthday – that was 21 years ago. So, I used to cycle around. Then, I met with a road accident.”

Chan was cycling along the narrow, winding roads of his hillside residential area in Seremban, Negeri Sembilan, when he suddenly met an oncoming car.

With no space to avoid the car, he braked hard and was thrown to the ground in a head-first fall.

“My helmet broke and I thought I would be paralysed. My friend, who is a doctor, straightaway rang up the hospital and they sent the ambulance,” he says.

Fortunately, Chan suffered no major injuries from the accident.

However, his cardiologist son insisted that he be checked more thoroughly for brain injuries, which resulted in him seeing a neurologist.

While his brain turned out to be fine, his wife noticed that his platelet count from the blood test were quite high – between 600,000 to 700,000 platelets per cubic millimetre, when the upper limit for normal is 400,000.

His son then sent him to consultant haematologist Dr Ng Soo Chin, who prescribed hydroxyurea to bring down his platelet count.

That seemed to work quite well for Chan, and it was, in fact, shortly after this that he began mountain-climbing with a group of fellow MBA (Masters of Business Administration) alumni from Tenaga Nasional Bhd.

Chan was then a director of the company, and had gone to Ohio University, United States, to study his MBA along with other Tenaga Nasional executives.

“So, as I climbed, I continued to take hydroxyurea and everything was normal.

“But Soo Chin said, hydroxyurea will eventually bring down your red corpuscles (another term for RBCs), and recommended anagrelide,” he says. Anagrelide is a platelet-reducing agent.

Accelerating disease

Chan continued happily with the two medications, until the year 2011, 18 years after his initial diagnosis.

By then, he was seeing consultant haematologist Datuk Dr Chang Kian Meng at Hospital Ampang, Selangor, as Dr Ng had advised him to continue his follow-ups at a public hospital as his medications are quite expensive.

Chan shares that Dr Chang started him on epoetin alfa and pegylated interferon that year as his blood cell levels were fluctuating.

While interferon decreases the production of blood cells in general, epoetin alfa stimulates the production of RBCs to counteract the effects of anaemia.

However, his haemoglobin levels dropped even further, and he started requiring blood transfusions about once every two months.

The transfusions made a big difference as he reports feeling “very energetic” after receiving the first one. (Fatigue is a common symptom of anaemia.)

The following year, it was the WBCs turn to go “completely haywire”, when a blood test revealed that they had dramatically increased to about 56 from the regular range of about 4 to 10.

He also started experiencing profuse night sweats and cramps, along with the occasional itchiness that had started in his seventies – all of which are among the symptoms of myelofibrosis.

“Then, both Dr Chang and Soo Chin agreed that I had entered into myelofibrosis in acceleration,” he says.

The only cure for myelofibrosis is a bone marrow transplant, but aside from the difficulty of finding a suitable donor and the riskiness of the procedure, Chan’s age rendered him unsuitable for such a treatment.

Fortunately for him, a new drug had recently been approved by both the European Commission and the United States Food and Drug Administration for use in myelofibrosis at that time.

A new drug

The drug, ruxolitinib, inhibits certain enzymes in the JAK pathway, which regulates blood cell production. Half of primary myelofibrosis cases are caused by mutations in the JAK genes, which results in the dysfunctional production of blood cells in the bone marrow.

However, the drug was not available in Malaysia then. (It was only launched in the Malaysian market in 2013.)

This is where his political connections as a Gerakan life member and former secretary-general came in useful.

Then Minister in the Prime Minister’s Department and Gerakan president Tan Sri Dr Koh Tsu Koon offered to help pass on the letter Chan had written to the Health Ministry requesting approval to use the drug on compassionate grounds, to the Health secretary-general.

Four days later, Chan received the approval he needed, and received his first dose of ruxolitinib in October 2012.

Since then, after some adjustments in dosage, Chan’s blood cells are back in the normal range and his last transfusion was in December 2013.

He is currently doing well enough for his doctor to lower his dosage of ruxolitinib, while still taking epoetin alfa and interferon.

Life goes on as normal for this active 81-year-old, who still climbs hills, reads newspapers of various languages and blogs daily, works out in the gym and does regular morning calisthenics.

Of his condition, Chan shares that he never felt the need to know about the disease, being only interested in his blood test results.

“I didn’t know what myelofibrosis was all about until I was asked to do this interview. That was the first time I went into Google to see what was myelofibrosis,” he says with a laugh.

“But I knew it was a dangerous disease, but I wasn’t bothered. I continued to carry on with my normal life.”

He adds: “I’m not bothered with what happens because I have full trust in my doctors.

By Tan shiow China The Star/ANN

Related:

101 Ways To Live Your Life To The Fullest personalexcellence.co/blog/101-ways-to-live-your-life-to-the-fullest/  - If your answer to any of the above is a no, maybe or not sure, that means you're not living your life to the fullest. 

US: an engine or a threat to the world economy? Unwise to write shortsighted rules!

Is the US an engine or a threat to the world economy?

According to the World Economic Outlook published by the World Bank, the international economy is forecast to grow by 3 percent in 2015 and 3.3 percent in 2016. The US and the UK will maintain their economy recovery while Japan and the eurozone will remain sluggish, with growth forecast at no more than 1.1 percent. The World Bank also predicted that the US economy will grow by 3.2 percent in 2015. Developing countries are facing lots of challenges in its economic development.

The US seems to be the only engine of the world economy. But the US Federal Reserve is likely to raise its interest rate from 0 to 0.25 percent. The World Bank worries that any such move will make it more difficult for emerging economies to raise money. The US has emerged from its financial crisis while other countries are still trapped in economic troubles. From this perspective it is hard to assess whether the US is an engine or a threat to the world economy.

There is still a worry that Greece will exit the eurozone. If this happens, the eurozone will be thrown into turmoil. In Japan, so-called "Abenomics" have failed to generate the anticipated results. Russia and Venezuela are each facing their own troubles and threats.

The US economy is closely linked to the whole. Only when other economies achieve sound development, can the US economy maintain sustainable development. The US can't just focus on its own development.

This article was edited and translated from 《美国是引擎还是威胁？》, source: People's Daily Overseas Edition, Author: Zhang Hong

It is unwise for the U.S. to write shortsighted rules

In the latest State of the Union Address, President Barack Obama mentioned China many times. He claimed that China wants to write the rules for the world's fastest-growing region (Asia-Pacific) but the U.S. should write those rules. He went on to urge Congress to give him the authority to promote trade with this region.

Obama is setting considerable store by the Trans-Pacific Strategic Economic Partnership (TPP) Agreement (TPP) and Transatlantic Trade and Investment Partnership (TTIP). These trans-regional trade and investment agreements are designed to increase America's competitiveness and encourage its exports. Although Obama's government has tried hard to promote these agreements and to make his mark on presidential history in the U.S., parts of the bills of the two agreements are opposed by some of the negotiation partners, and it is not clear whether Congress will support the agreements.

The U.S. is avoiding queries over its strategic rebalancing toward the Asia-Pacific. The American government cannot give a clear answer to whether TPP targets any specific country. However Obama has now made his position clear: "We should write those rules. We should level the playing field. That’s why I’m asking both parties to give me trade promotion authority to protect American workers, with strong new trade deals from Asia to Europe that aren’t just free, but fair."

It is readily apparent that America is not satisfied with international trade rules set by the World Trade Organization (WTO). Some countries are trying to break rules while China is attempting to set rules for the world's fastest-growing region. However, China's efforts could undermine American interests. Obama hold the view that China is taking advantages of existing free trade rules and it is not fair to the U.S.

It is not wrong for America to benefit from reform of international trade rules. But from a country good at promoting global rules in the past to one now busy promoting trans-regional rules between Asia and Europe, America's leadership in international system gradually fades out. The U.S. thinks that it has suffered losses from past world trade rules and therefore wants to establish new trans-regional institutions that exclude China and other counties.

America is no longer a country positively promoting global financial trade rules. It now seems to be focused on short-term rules to suit itself and a few allies. Although these agreements will co-exist with the WTO, world trade may become more fragmentized due to trans-regional agreements. A conflict of interests is slowly developing between a group of developed countries, including America, and the developing countries. Trade interests between developing countries might also be damaged. In view of this situation, it is hard to say that the world will be freer or fairer.

Are the trade rules established by WTO really unfair? The U.S. thinks that the standards involving environmental protection, intellectual property protection, and markets are too low. However, America should always bear in mind that it too encountered these problems during its industrialization. Progress was achieved only after a long period. If America remains reluctant to cooperate with other countries to define international rules, it might lose international respect and miss out on new opportunities for development.

The article is edited and translated from 《美国切莫制定短视规则（望海楼）》, source: People's Daily Overseas Edition, author: Shen Dingli, Vice Dean and professor of Institute of International Studies, Fudan University

Related posts:

Don't worry about China slowdown !

Last evening, Beijing time, Premier Li gave the most anticipated speech at Davos. One day after China's GDP came in at 7.4 per...

West should end its hypocrisy on anti-terror war!

Chinese and Russian policemen attend a joint anti-terror drill in Manzhouli City, north China's Inner Mongolia Autonomous Region, Oct ...

 

Don't worry about China slowdown !

Last evening, Beijing time, Premier Li gave the most anticipated speech at Davos. One day after China's GDP came in at 7.4 percent, Li assured the packed audience, of international business and government leaders, that China will avoid a hard landing, continue its ongoing reform and restructuring and ensure a prolonged period of sustainable future medium-to-fast growth.

Even before the release of the GDP numbers, a number of Western media and policy pundits were predicting a China stall. Issues with the real estate sector, local government debt, SOE intransience, shadow banking, over capacity and a weak global economy were cited as the factors which would continue to push growth rates lower in the future. But even amongst the hardened doubters, there were signs of dissension, with the Wall Street Journal grudgingly indicating respect for China's handling of its economic affairs.

Premier Li: Don't worry about a China slowdown

The 2014 results represented the slowest growth in 24 years and the first time the government has missed its target on the downside. But Li was in no way defensive, while acknowledging China's 10-trillion-dollar economy will continue to face downward pressures in 2015, Li indicated that the country will avoid systemic financial risks and will improve its quality of growth to ensure an "appropriate" pace of expansion. The rise in urban and rural employment numbers, rising real income levels, moderate inflation, a 50 percent individual savings rate, a 5 percent decrease in energy per unit of GDP, significant growth in China's tertiary industries/services and record numbers of new businesses, added meat to his assertions.

Li, in essence continued the line of thought he voiced at the Summer Davos in Tianjin, where he indicated China's actions are predicated on the realization that its economic growth pattern wasn't sustainable and that to avoid the "Middle Income Trap" China's economic engine needed to be restructured to be more efficient and competitive.

Highlights

"We will continue to pursue a proactive fiscal policy and a prudent monetary policy," Li said. "We will step up anticipatory adjustment and fine-tuning as well as targeted macro-regulation, in order to stabilize economic growth, upgrade its structure and achieve better quality and performance."

Li is clear that China does not regard the fiscal and monetary policy tools Western governments are limited to, as an effective means of transforming its economy.

"For the Chinese economy to maintain medium-to-high speed of growth and achieve medium-to-high level of development," Li said, "China must properly use the hand of the government and the hand of the market, and give full scope to both the traditional and new engines of growth."

This highlights a sharp contrast between China's "Big Hand" (government) over the "Invisible Hand" (market) approach, and Western democratic/capitalist models, which put the market on top and government as a kind of enabling and clean up mechanism.

"To foster a new engine of growth," Li said, "we need to encourage mass entrepreneurship and innovation, and mobilize the wisdom and power of the people."

The word innovation was repeated 33 times during Li's Summer Davos speech and it continues to be central to Li's vision of a more prosperous China. With 3 of the top 5 mobile phone manufactures and a host of other technological innovators like Alibaba and Tencent, there is a new sense of confidence within and outside about China's future.

"To transform the traditional engine of growth, we need to focus on increasing the supply of public goods and services, and strengthening the weak link of the economy," the premier said.

This references the need to make China's SOEs, government and financial sectors more efficient and responsive to the needs and pressures of the market.

China, he added, "will continue to promote trade and investment liberalization and facilitation, and open up its service sector, central and western regions as well as the capital market wider to the outside world."

This is a list of areas which China will be opening up to more investment internally and externally. The Shanghai FTZ has been used as a model and will be extended to Fujian, Tianjin and Guangzhou. They represent the cutting edge of a new kind of economic development platform which will be extended inland once the models have been proven.

"China will encourage its companies to explore the international market, and work for common development with other countries through greater openness towards each other," Li said.

Premier Li is signaling strong support for globalization and indicating a desire to work regionally and internationally to create better trade mechanisms. The New Silk Road, extension of transportation infrastructure into Southeast Asia, AIIB, BRICS Bank etc… are strong indicators of this desire which is essential to China's resources imports and finished goods exports.

So, what can we expect from China, the second largest economy in the world in 2015?

Some say the single biggest risk for the economy is still the interlinked and rising problems associated with shadow banking, local government and corporate debts and a stagnant real estate sector. But at about 54 percent of China's GDP, China's debt is far below most developed nations. The key will be how local governments are funded and regulated. This touches on the real estate sector as well which is badly in need of reform but because it represents 25 percent of the economy it must be handled carefully.

Continued increase in consumption. Consumption now accounts for 51.2 percent of GDP in China. Though it is still considerably lower than the 70 percent average for the developed countries, it continues to move in a positive direction. The services sector has now overtaken the industrial sector as the largest segment of the Chinese economy and seems to be following the government's playbook to re-balance the economy.

China is developing more confidence in its ability to innovate and lead cutting-edge FMCG markets and this trend will continue further balancing the public-investment and export-driven, forces which drove the economy in the past.

China has also taken some steps to solve its overcapacity issues. A two pronged approach which is shifting heavy industrial capacity in areas like transportation infrastructure to projects in neighboring areas and the world stage. For example the merging of China's major railroad companies and the projects they will being doing in the Mekong delta region. The second prong is the identification and closing of first and second generation industrial plants which is how China has been able to achieve a 5 percent increased efficiency in energy use per unit of GDP.

In the financial sector expect more pressure on the big banks to be more SME focused in exchange for more liberal controls of lending and deposit rates. An example: the lifting of the deposit rate ceiling, the deposit insurance draft plan being considered and the new property registration system will standardize the markets and provide new financial product opportunities. To make things more transparent the government has adopted new budgetary laws, local government debt regulations and encouraged state-owned enterprises to adopt mixed ownership structures.

It is clear though that fiscal and monetary policy will be part of the symphony not the main players. Premier Li was clear that he opposed another monetary stimulus to push growth rates and instead, would rely primarily on structural reforms. A thought which was expressed in Davos on Wednesday, by Zhou Xiaochuan, governor of the People's Bank of China, who also expressed a willingness to sacrifice growth for stability.

"If China's economy slows down a bit, but meanwhile is more sustainable for the medium and long term, I think that's good news," he said.

China's growth cannot be delinked from the global context. As the main driver of the world's economy since the US mortgage crisis meltdown, China has taken on a new role. Just as importantly and expanding China needs access to raw materials if it intends to consume and export finished goods. A resurgent US will help China, but a stagnating EU will hurt it. These seem to be the dominant trends which WTO started and which will carry on for some years.

The premier said China will go full speed ahead with liberalizing interest rates, allowing markets to play a greater role in setting prices, in forging trade agreements and opening up its financial system.

"We will not be afraid of difficulties, and we will continue to move along the path of reform and restructuring," Li said.

All of this, he suggested, was not only in China's interests but also that of the global economy.

"China's reform and development will bring more opportunities for the world."

China Economic path firm, despite lower growth

Since China revealed its 2014 annual growth rate of 7.4 percent on Tuesday, there has been heated discussion worldwide. Some observers cited the figure, the lowest in China since 1990, as proof of the lost glory of the Chinese economy.

Several Western institutes predicted that China's economic growth would tumble to about 6.5 percent in 2015 and some even proclaimed that 2015 would be the last year that China would see growth figures above 6 percent. Last week, a column in the Financial Times said the Indian economy may outstrip China's this year.

When China's GDP growth was above 10 percent, many voices expounded that such a high rate would be harmful. However, just as China is committed to economic restructuring and a turn to the "new normal," there appears to be more catcalls and scary predictions for the future. We have to be unswerving in our commitment not to return to the GDP-oriented path.

GDP figures are so favored by the media as they are easy to grasp. But China has passed the era of GDP-fixation and Chinese people now harbor more expectations for economic development. Despite continued pursuit of wealth, we highly value safety, environmental protection, equal opportunity and explicit rules. With money, there should also be dignity.

Chinese economic and social development has entered an era of multiple targets, which will become more effective. But sometimes the effects are invisible. This makes it harder to measure than what GDP does.

It's different in India. Long overshadowed by China, it is keen to become the best in some aspects. It is in dire need of evidence to show that it is not inferior to China.

Even if the Indian economy does outstrip China's one day, the impact on the Chinese public will be far less than on its own people, since India has been waiting for the outcome for so long. The West seems to be also long expecting the day. Some Western media attach more significance to India's overtaking China than Chinese people do.

China's GDP growth is unlikely to always rank top of the global list and we won't modify our set direction in social and economic development.

The "new normal" in the Chinese economy doesn't mean stagnation nor recession, but a strategic adjustment toward quality and sustainable development. We have such a widespread capacity to push forward economic and social development and meet people's expectations for a better life.

China's growth of 7 percent maintained in the period of economic and social restructuring is no less significant than 10 percent in the past times of extensive development. While the Chinese government is capable of achieving higher growth, its choice of lowering the rate deserves more praise.

China has never been applauded by the West in its development since the end of the Cold War. We have grown used to this. We need to stay firm to achieve our target of deepening reform.

West should end its hypocrisy on anti-terror war!

Chinese and Russian policemen attend a joint anti-terror drill in Manzhouli City, north China's Inner Mongolia Autonomous Region, Oct 20, 2014. [Photo/Xinhua]

Senior US leaders invited sharp criticism at home for not attending last week's solidarity rally in Paris against the terrorist attack on French satirical magazine Charlie Hebdo in which 12 people were killed. As a result, US Secretary of State John Kerry was in Paris this week to make up for the mistake.

However, terrorist attacks on innocent civilians in Nigeria, where Boko Haram fighters killed hundreds of, if not more, ordinary people early this month, have not received the same attention in the US and the Western world as the Paris attack. Yet such double standards and hypocrisy of the Western world is nothing new.

Over the past few years, the US and some Western countries have not responded to the terrorist attacks against innocent civilians in Beijing, Kunming and the Xinjiang Uygur autonomous region the way they reacted to the Paris attack.

On several occasions, US State Department spokespersons have used the excuse that they need more information and investigation into the incidents in China to condemn them as terrorist attacks. But they did not ask any such question after the Paris attack.

Some Western news organizations have refused to describe the perpetrators at Kunming railway station in Yunnan province as terrorists, insisting on calling them "knife-wielding attackers". And on the rare occasions that they have used the word terrorist, they put it within quotation marks as if the ruthless killers in China were any different from those in Paris or elsewhere in the Western world. One CNN report even posed the question, "Terrorism or Cry of Desperation?", as if killing innocent civilians in China can be somehow justified.

Even though China and the US have common interests in fighting terrorism, some Americans still seem to believe that only those setting off bombs in New York are terrorists while those doing the same in Beijing or any other Chinese city demand a different description.

The West's double standards are not restricted to China and Nigeria. The decade-old wars in Iraq and Afghanistan have cost the lives of hundreds of thousands of civilians, but the mainstream media outlets in the US have largely ignored the tragedies and focused on the loss of their own troops.

If the number of civilian casualties is a measure of the intensity of a terrorist attack, tragedies like the Sept 11, 2001, attacks have occurred multiple times in Iraq and Afghanistan. But the Western media don't seem to care much about them.

Some Western observers have even found excuses for West's inadequate response to the terrorist attacks in Kunming on March 1 last year in which 31 were killed and 141 injured. But by failing to immediately condemn the attacks against innocent civilians in Kunming and Xinjiang, these people have by default condoned the action of the perpetrators.

It is true that terrorists in the eyes of some could be freedom fighters in the eyes of others. That is why Osama bin Laden was a freedom fighter to the US in the 1980s but a top terrorist in the 21st century. And Nobel Peace Prize winner Nelson Mandela was still on the US terrorism watch list as late as 2008, years after stepping down as South Africa's president.

There is no doubt that the US and its allies have failed miserably in their "war on terror" despite the more than 1,000 air strikes launched against the Islamic State group. In spite of the heavy bombardments, we have seen terrorists gaining strength and spreading their tentacles to more areas across the world.

And the Western world responds to this deadly threat with double standards.

By Chen Weihua China Daily/Asia News Network

The author, based in Washington, is deputy editor of China Daily USA. chenweihua@chinadailyusa.com

Related:

Editorial: Uygur extremists are a threat to the world

Double standards in the fight against terror and acquiescence in religious extremism do no good to any party. Instead, they brew a universal threat to all.

 Xinjiang's terrorists kill religious ...

The murder of Jume Tahir, the imam of China´s largest mosque in the Xinjiang Uygur Autonomous ... Imam's murder is death-knell for terror. Police in Xinjiang Uyghur Autonomous Region announced on Thursday that they ...

Terrorists Attack Kunming Train Station, China's 9/11

It was a typical terrorist attack and also a severe crime against the humanity. It was China's "9-11." Any explanation for the attack, like those in previous cases elsewhere in China, would be feeble at the bloody scene, where ...

13 years after 9/11: ISIS in Middle East, Muslim Terrorists ...

Ironically, in spite of critical changes such as the relevant fall of the US and the rise of China, a basic factor remains constant. This is the success of terrorism. It was Al Qaeda 13 years ago and it is the IS now, as far

Malaysia revised budget 2015: cuts RM5.5 bil, deficit target 3.2%, focus on manufactured goods

Prime Minister Datuk Seri Najib Razak delivers his speech on the revision of the Budget 2015 at the Putrajaya International Convention Centre today. He said a slew of cuts amounting to RM5.5 billion will take place as part of Putrajaya’s proactive measures. – The Malaysian Insider pic by Nazir Sufari, January 20, 2015.

Prime Minister Datuk Seri Najib Razak today announced a slew of budget cuts amounting to RM5.5 billion as part of Putrajaya’s “proactive measures” to align itself with plunging global oil prices and revised world economic growth projections.

The cuts would come from the Budget 2015’s operational expenditures that were initially set at RM223.4 billion, while the RM48.5 billion for development would remain untouched, Najib said in his speech today at the Putrajaya International Convention Centre.

Also, the fiscal deficit target of 3% of the Gross Domestic Product (GDP) for the year has been revised to 3.2%.

Najib said this was still lower than 2014’s fiscal deficit of 3.5%. The "proactive measures" to achieve the RM5.5 billion savings are:

“(The government will) optimise outlays on supplies and services, especially overseas travel, events and functions and use of professional services. This will result in savings of RM1.6 billion.

“Second, defer the 2015 Program Latihan Khidmat Negara (National Service) to enable the programme to be reviewed and enhanced, with savings expected at RM400 million.

“Third, review transfers and grants to statutory bodies, GLCs, Government Trust Funds, particularly those with a steady revenue stream and high reserves. This measure will result in savings of RM3.2 billion.

“Fourth, reschedule the purchase of non-critical assets, especially office equipment, software and vehicles, with an expected savings of RM300 million.”

Najib said Putrajaya’s revenue would be enhanced by encouraging companies to register with the Royal Malaysian Customs to enable them to charge and collect the goods and services tax (GST).

He estimated that broadening the tax base would contribute an additional RM1 billion.

Putrajaya would also realise additional dividends from GLCs and GLICs as well as other government entities amounting to RM400 million, said Najib.

He added that the revisions to the budget were necessary as Putrajaya would otherwise face a revenue shortfall of RM8.3 billion due to falling crude oil prices, despite savings of RM10.7 billion after doing away with fuel subsidies.

“Without any fiscal measures, the deficit will increase to 3.9% of GDP against the target of 4% for 2015.

“This requires the government to take measures to reduce the deficit, in line with the government’s commitment towards fiscal consolidation.”

Najib said the GDP growth target between 5% and 6% had been revised to between 4.5% to 5.5%.

To ensure economic growth remained strong, he said Putrajaya would boost exports of goods and services, enhance private consumption, and accelerate private investment.

Among its strategies are postponing the scheduled electricity tariff and gas price hike, and increasing nationwide mega sales.

Meanwhile, Najib announced an initial allocation of RM800 million for the repair and construction of basic infrastructures affected by the recent floods, and another RM893 million for flood mitigation projects.

These included building eight-foot high stilt houses for those who have land and whose homes were damaged by the floods, and handing over 1,000 units of low-cost homes in Gua Musang, Kelantan.

As he concluded his speech, he told Malaysians the country was not in a financial crisis or recession, but simply taking pre-emptive measures.

“We are neither in recession nor a crisis as experienced in 1997, 1998 and 2009, which warranted stimulus packages.

“The strategies announced by the government are proactive initiatives to make the necessary adjustments following the challenging external developments which are beyond our control.

“This is a reality check following, among others, declining global crude oil prices,” he added. – January 20, 2015.

By ANISAH SHUKRY The Malaysian Insider

Focus on Malaysian-manufactured goods

PETALING JAYA: The impact of the reduction in global oil prices from US$100 to US$40 per barrel can be offset by a rise in demand for Malaysian-manufactured goods, said Prime Minister Datuk Seri Najib Tun Razak (pic) on Tuesday.

Najib, who announced revisions to the 2015 Budget which was tabled in October 2014, said that this could be done as crude oil only makes up 4.5% of the nation's total exports.

"The reduction in the price of crude oil will indirectly increase demand in Malaysia-made products. We will actively promote 'import-substitution' to reduce our dependency on external sources to obtain goods and services," said Najib.

He added that the Government initiatives would be created to increase the use of the private sector.

"We will give priority to local Class G1 (Class F), G2 (Class E) and G3 (Class D) contractors registered with the Construction Industry Development Board to carry out recovery works in their local areas affected by the east coast flood," said Najib.

He added that the Government would intensify promotions encouraging the public to buy made-in-Malaysia products.

"We will increase the frequency and duration of mega sales throughout the nation, and intensify domestic tourism promotions by offering competitive airfares," said Najib.

He also said that the Government would encourage the private sector to reap opportunities created by the Asean Economic Community.

"We will also intensify programmes to boost exports of Malaysian goods in 46 nations across Asia, Europe, the Middle East and America," said Najib.

In his speech, Najib said the adjustment to the 2015 Budget was necessary to "ensure our economy continues to attain respectable and reasonable growth, and development for the nation and rakyat continues" as the 2015 Budget was based on the price of crude oil remaining at US$100 per barrel.

"Based on a crude oil price of US$100 per barrel and taking government saving measures and retail price controls into account, the Government was expected to have a fiscal profit of RM3.7bil. However, with the current price of oil at US$55 a barrel, the government will lose RM13.8bil in income," said Najib.

By Tan Ti Liang The Star/Asia News Network

Related:

Budget Revision: Full text of Prime Minister's speech

Budget Revision: Visa fee waiver for tourists

Budget Revision: National Service 2015 suspended

Budget Revision: Highlights

Budget Revision: RM8.9bil for flood recovery efforts

Budget Revision: Government postpones electricity tariff hike

Related posts:

Malaysian Tax Budget 2015 Highlights and Snapshots

Najib, who is Finance Minister, had presented his budget speech at 4pm in the Dewan Rakyat on October 10, 2014  Here are highlights: ... 

Oil & Gas lead to wealth crunch, Malaysian Ringgit beaten and dropped!

PETALING JAYA: With the oil and gas (O&G) sector being the hardest hit in the current market rout, tycoons who own significant stake...

Crude oil prices fall: subsidy needless, ringgit weaken, fiscal health affected

Malaysia's iconic Twin Towers are seen in the background of the Malaysian oil and gas company Petronas logo at a petrol station in Ku... 

Will shale oil survive the price fall?

American shale oil enterprise WBH Energy filed for bankruptcy on January 4, 2015. This could be the beginning of a shakeout of shale oil ent...

Malaysian worked as janitor is a serious innovator

TV star: Dr Walter showing the company’s big LED television.

From Janitor to serious innovator

MALACCA: As a university student, he worked as a janitor to earn some pocket money.

Dr Gabriel Walter, 37, who studied electrical engineering at an American university, now holds about 100 patents in electronic and electrical innovations.

The Kelabit boy from Bario, Sarawak, wants to break the monopoly of foreign brands selling their products at exorbitant prices.

For example, he has introduced a big screen light emitting diode (LED) television, which includes all connecting gadgets, and priced at about RM6,000 compared to popular foreign brands that can cost almost RM20,000.

There is also a smartphone application, costing just a few hundred ringgit, that can integrate home appliances with just a cyberspace connectivity.

“I am determined to make available quality, feature-perfect appliances that can communicate with any other devices in an ad hoc network with a single connectivity.

“All these wonders are packaged and assembled here and sold at affordable prices. It is a Malaysian invention,” he said in an interview.

Dr Walter, who was a Mara scholar, studied at the University of Illinois at Urbana-Champaign where he earned a doctorate.

He was an Adjunct Assistant Professor from 2003 to 2009 at the university, where he was also once a senior research scientist.

Despite his long list of achievements, Dr Walter has not forgotten his humble beginnings where his father used to live in a longhouse.

At a tender age, he started selling groundnuts to help supplement the family income.

“Life was hard then. I used to work as a janitor when I was studying in the United States as the scholarship was only adequate to cover my education,” he said.

Several months ago, Dr Walter returned to Malaysia for good after receiving a government grant of RM2mil for research and development before setting up his own manufacturing plant in Batu Berendam.

“I must thank former Chief Minister Tan Sri Ali Rustam who was persistent that I should set up a plant in Malacca when he first met me in 2006 during a bio-tech conference in the United States,” he said.

Dr Walter established Quantum Electro Opto Systems Sdn Bhd (QEOS) and launched its first commercial product based on its patented high-speed light-emitting technology known as tilted charge dynamics in 2013.

QEOS is based here with an office in the Silicon Valley, California, where Dr Walter is the chief executive officer.

His university mentors – professors Nick Holonyak Jr and Milton Feng – are part of his team.

The QEOS website stated that Prof Nick Holonyak Jr is widely regarded as the inventor of LED.

The company, it said, wanted to “pioneer the commercial development of high speed, low-cost and power efficient fiber optics communication solutions”.

By R.S. N. Murali The Star/ANN

Related posts:

How WhatsApp founder made it big from rags-to-riches?

WhatsApp users worldwide received surprising news when Jan Koum, the founder of WhatsApp announced that Facebook was buying over WhatsApp for USD19 billion in cash and stock. It is by far the biggest acquisition ...

SoftBank invests $250M in GrabTaxi, an Internet company founded in Malaysia

The round is the highest raise for a startup in Southeast Asia to date — Rocket Internet companies aside — and it is GrabTaxi's fourth funding activity this calendar year, taking it past $320 million in capital from investors.

Chinese women's marriage criteria,logical search for a mate

72% of women consider housing as a key requirement for a marriage partner, says the latest report of the Chinese Marriage Status Survey 2014, issued by China’s leading marriage service provider Baihe.com on Jan.11, 2015.

Researchers collected the results of 73,215 online questionnaires and held in-depth off-line interviews with 200 single men and women from 34 provinces, municipalities and autonomous regions.

Why still single?

The report shows that 63% of single men and women spend an average of more than six hours alone on their rest days; and 32% spend more than 10 hours alone. Surfing the internet, hanging out with friends, and just “quietly” staying at home have become the top three activities for single people.

32% of single women follow TV dramas while 67% of men scan websites, killing their private time at home.

The report concludes that the main reasons for remaining single is too much time spent alone - too few social contacts is the top obstacle to meeting the right person. 80% of single women report this.

Gender differences in marriage requirements

Nowadays, love is no longer the only passport for two people to enter marriage. The report says that more than 40% of single men and women are only willing to get married with a person in a suitable situation. People are becoming ever more rational and realistic when choosing their spouses.

The top three concerns for single men are appearance, physical health, and emotional experience. Single women attach more importance to a partner’s financial situation, physical health, and career.

33% of single men and 27% of single women have experienced interference from parents in their relationships.

Focus on housing

The report shows that 71% of women view housing as a key requirement for a potential marriage partner. 18% of women counted car ownership as one of the basic requirements, a rise of 9% compared with 2012. Both men and women said that a stable income and some savings were important factors.

Nearly 60 percent of women do not intend to have a second child, according to the report, although China has relaxed its birth control policy to allow couples to have a second child if either parent is an only child.

The report also shows that 33% of women think that Chinese men do not deserve Chinese women, in terms of "self-accomplishments and ability to care for themselves." - (People's Daily Online)

The logical search for a mate

‘Love’ takes a back seat when seeking prospective life partners

LOVE is not the only criterion for marriage in China. A recent survey shows that more than 40% of Chinese look to marry someone who suits them in appearance, educational background, social status, income and other characteristics.

Baihe.com, a major dating portal in China, released its 2014 Chinese Marriage Status Survey Report on Sunday.

The site has tracked marriage trends in the country since 2007.

The latest results show that 44.4% of male and 49.7% of female respondents said the reasons for their choice of a marriage partner include their prospective mate’s coming from a family of equal social rank.

“This means people are much more rational when it comes to the marriage decision,” the report said.

“They would like to match each other under every single standard. Love is no longer the only pass.”

The report also said that more than 70% of female respondents said they would consider marriage only if the male partner owns property.

And more than 70% of the women hoped their future husband’s income would be double their own.

Zhou Xiaopeng, the chief marriage consultant at Baihe.com, characterised the phenomenon as “supermarket marriage”, where people come with “money in hand” and want to select the best “products” after shopping around.

Tu Ying, a researcher at the portal, said that seeking a partner with quantifiable requirements is efficient.

“In everyday life, it is more and more difficult to find the right person and get to know him or her – not to mention the cost it comes with,” Tu said. “If people start with quantifiable standards, and then develop their relationship based on that, it is more likely to be a stable relationship.

“Starting marriage with money cannot guarantee stability from the beginning.

“Every relationship needs cultivation from each side.”

Zhou Xiaozheng, a professor of sociology at Renmin University of China, attributes the new approach to marriage choices to changes in society.

“Chinese people’s view of choosing a mate has undergone many changes,” Zhou said.

“In the past, marriage was arranged by parents, which reflected the will of family or country. Then it became a personal choice, or socalled love choice. And now it is more related to material standards, or what we call materialism in marriage.”

“This is simply because people live in a materialistic world: A couple needs an apartment to live in, which costs a lot; the couple needs to find a good school for their children, which costs a lot; the couple who live far away from their parents need to find a way to support them, which also costs a lot,” Zhou said. “It is a vicious circle.”

Zhou said to reverse the materialistic trend, the country needs to continue its anti-corruption campaign and improve social welfare, and young people need to know that money is not the solution to everything. - China Daily/Asia News Network

Will shale oil survive the price fall?

American shale oil enterprise WBH Energy filed for bankruptcy on January 4, 2015. This could be the beginning of a shakeout of shale oil enterprises. Since 2010, the debt of America's energy enterprises has increased 55 percent; meanwhile, the energy sector of S&P 1500 index has dropped rapidly. The shale oil revolution has not only been stricken by the low oil price, but also "abandoned" by investors. As liquidity runs short, small and medium-sized shale oil enterprises will either go bankrupt or be taken over if they survive the oil price crisis.

The reason for the oil price slump is becoming clearer: oversupply. However, since oil producers will not reduce output, the downward trend continues. Canadian heavy crude has dropped below 35 USD, a new low since February 2009. In the past six months, the price has fallen by 60 percent. We can say that the shale oil revolution is being blocked by the low oil price - in other words, it is being hindered by OPEC (Organization of Petroleum Exporting Countries), principally represented by Saudi Arabia. When the oil price dropped below 50 USD, OPEC had a meeting seeking consensus on maintaining oil output. The average production cost of OPEC is about 40 USD, while the cost of shale oil is above 60 USD. As long as the price is above 40 USD, OPEC can still make profit, but the shale oil enterprises will be squeezed out.

At the end of 2014, in order to exploit the market for US oil producers, the US Department of Commerce lifted the ban on the export of condensate oil. The US has ended its 40-year oil export ban to join in competition with the other oil producers, which means that on the one hand the US has become an international oil producer, while on the other hand shale oil has had a huge impact on the world energy structure, and the world oil market has excess production capacity. For the US, shale oil has provided a new economic growth point and provided additional chips when competing with other oil producing countries. Therefore, the US government will offer necessary supports to shale oil enterprises. However, the market cannot be easily manipulated by one or two countries. The US wanted a moderate drop in the oil price, which would stimulate its economy as well as "fix" those insubordinate oil producing countries. But the downward trend of the oil price has been irresistible, and now threatens the survival of the American shale oil industry.

Faced with the falling oil price, shale oil enterprises, with their relatively high production costs, have entered a crucial phase of life and death. Unless all the oil producing countries join hands to limit production and achieve a rebalancing of supply and demand, the oil price will not rebound in the short term. Saudi Arabia and the other Gulf countries blame the oil price crisis on the irresponsible behavior of non-OPEC oil producing countries, which in fact targets the shale oil producers.

TThe new energy industry is suffering under the impact of the falling oil price too. The stock price of electric vehicle producer Tesla is also in a slump. But for the shale oil enterprises, this is an issue of life or death. - (People's Daily Online)

Related posts:

Oil enters a new era of low prices: Opec vs US shale, impacts, perils as Petronas cuts capex

Oil Enters New Era as OPEC Faces Off Against Shale; Who Blinks as Price Slides Toward $70? How Oil's Price Plunge Impacts Wall S...

Oil & Gas lead to wealth crunch, Malaysian Ringgit beaten and dropped!

PETALING JAYA: With the oil and gas (O&G) sector being the hardest hit in the current market rout, tycoons who own significant stake...

Success factors: higher education, right skills and knowledge

Young people are aware that career success is only possible if they pursue higher studies and are armed with the right skills and knowledge.

AS the demand for highly skilled and knowledgeable workers intensifies in the knowledge-based economy, so does the demand for higher education.

Indeed, higher education plays an increasingly significant role in this dynamic and integrated world economy.

There is much evidence in research literature that show the positive correlation between higher education and economic development.

In addition, pursuing higher education is seen as an important pathway to career success. However, as tertiary studies become more accessible to the masses, there are concerns on the value of higher education.

Based on the classification of the Education Ministry, the higher education sector in Malaysia consists primarily of universities, university colleges, colleges, polytechnics and community colleges.

An online survey was conducted recently where 298 respondents participated. More than 80% of the respondents were students in public and private higher education institutions in Malaysia while the rest were random respondents.

The data from this survey was collected through the UTAR (Universiti Tunku Abdul Rahman) Opinion Poll (http://poll.utar.edu.my/), an online platform developed by the varsity to collect public opinion on current issues, particularly issues faced by youth in the country.

Seeking jobs

The survey revealed that the two reason for pursuing a university or college education were to get a decent job and earn a higher salary.

The value of higher education in providing access to improved jobs, better earnings and career prospects is an important driving force for people to invest in higher education.

Other important values of higher education as highlighted in the survey include promoting social mobility and gaining self-fulfilment.

In the survey, when respondents were asked about what kind of knowledge should be emphasised and delivered by higher education, students and non-student respondents gave somewhat different feedback.

Student respondents placed great emphasis on the provision of professional knowledge that would prepare them with the information and knowledge required for a professional career while career-related knowledge came in second.

For non-student respondents (consisting of respondents working in different professions and 67% of them have a degree), they are of the opinion that higher education should firstly prepare students for good citizenship and to be well-versed in general knowledge.

This was then followed by the preparation for a professional career and a job.

The survey also revealed that vocational or technical knowledge to prepare students with technical skills has not been seen as a priority for higher education.

Due to the burgeoning number of higher education institutions, particularly private higher education institutions in the country since the introduction of the Private Higher Educational Institutions Act in 1996, higher education has changed from a social institution to an industry and is increasingly perceived as a profit-making industry.

About 75% of the respondents felt that higher education was becoming “commercialised” and profit-oriented, thus creating the varying standards of higher education institutions, and the programmes offered in the country.

The diverse quality has somehow contributed to the diminishing value of a higher education degree.

It has also led to the distorting job market signalling effect of an academic degree in the employment market.

Hence, more efforts in screening and filtering are required during recruitment to help employers hire the right candidate with the relevant requirements.

In order to ensure the quality of higher education in the country, it is crucial for the authorities to develop a reliable and effective mechanism to closely monitor and assess the quality of teaching and learning in higher education institutions in Malaysia.

“Too-examination oriented” is the general perception of the respondents (78.3%t) on the current higher education system in Malaysia.

This is associated with the feedback that higher education institutions should provide more practical training opportunities and industry exposure to students.

The curriculum design should consider incorporating innovative teaching and learning methods. This would include problem-based learning, project-based assignments, case studies or experiential learning, rather than the traditional lecture-based method.

Internship is found to be an effective way for students to gain hands-on learning experience.

Non-student respondents were asked to give comments and their perception on the performance of students in the higher education institutions.

The majority of them (80.6%) felt that our students are lacking in international exposure.

It would be a disadvantage if we are not preparing our students and equipping them with global competence skills to compete in the global economy.

International internships.

Many universities around the world, particularly universities in Europe and North America, have incorporated into their curriculum at least one semester of study abroad or international internships.

Compared to these universities, we are lagging behind in this aspect.

Higher education institutions in Malaysia should participate more actively in internationalisation initiatives, particularly international student exchange programmes to provide students the opportunity to acquire global experience during their studies.

Another major comment is related to students’ lack of good communication skills.

In fact, this is not a new finding. We often read reports or hear comments about the inadequacies of our students in communication skills.

It is not so much of a language barrier, but more related to the capability to express and deliver one’s idea and messages clearly and correctly.

Interestingly, when student respondents were asked to reveal what skills they acquired in university or college, communication skills topped the list as the skills most acquired.

This is something that needs further investigation.

The higher education system is undergoing dramatic changes due to many underlying factors, particularly technology innovation, emergence of knowledge economy, shifting demographics and globalisation.

The role and value of higher education has somehow changed as well.

It is important for us to review the best practices to prepare students to succeed in the increasingly dynamic world and to produce the “right” knowledge workers for society.

This article sheds light on some of the issues in Malaysian higher education as perceived by students and general respondents.

By Prof Cheng Ming Yu The Star/Asia News Network

The writer is a Professor at the Department of Economics, Faculty of Accountancy and Management at Universiti Tunku Abdul Rahman. This is the final article in a series of STEM for life-themed articles published in our pullout.

Related posts:

Stem education for life to reach new heights- Part 1

It is necessary for the nation to embrace Stem education in order to reach new heights. IT is imperative that schools and educational …

Rightways Technologies: STEM Education for life, part 2

IN our previous article (Stem education for life to reach new heights) we talked about the engineering feats of the 20th century, what STEM (Science, Technology, Engineering and Mathematics) stands for and some ways to...

Stem education for life to reach new heights

Ringgit Malaysia slides to lowest vs USD: fears of low oil prices, rate hike, rethink study options

PETALING JAYA: The ringgit has fallen to its lowest against the US dollar since August 2009 amid concerns over the impact of low oil prices on Malaysia’s economy and the timing of US interest rate hike.

At 5pm yesterday, the ringgit was quoted at 3.5425 against the US dollar, which has been gaining strength against all major currencies in the world. That represented a weakening of 10.81% for the ringgit against the US dollar in the last six months.

According to independent economist Lee Heng Guie, the ringgit would likely remain under downward pressure as investors were concerned about the impact of falling crude oil prices on Malaysia’s economy.

Malaysia, which is a net exporter of crude oil and petroleum, is seen as the biggest loser in Asean of lower oil prices.

“Being a net oil and gas exporter, it will cause a sharp slowdown in oil and gas investments and affect the Government’s ability to spend as it struggles to manage its fiscal deficit on account of falling oil revenue,” RHB Research Institute said in a recent report.

Low oil prices would result in some loss of income for Malaysia through lower dividends from state oil producer Petroliam Nasional Bhd and lower tax and excise duties. Petroleum-related revenues account for around 30%-40% of total government revenue each year.

Savings from recent subsidy reforms might not be sufficient to offset the loss in income for the Government that was looking to cut its fiscal deficit to 3% of gross domestic income (GDP) in 2015 from 3.5% of GDP this year, economists said.

There were divided views as to whether Malaysia would momentarily slip into twin deficits, a situation where an economy is running both fiscal and current deficits, in the coming months.

Brent crude oil, an international benchmark, fell to a fresh five-year low at 5pm yesterday when it was quoted at US$54.23 (RM192.11) per barrel. That represented a decline of more than half from the peak of around US$115 (RM406.80) per barrel in mid-June.

Investors are expecting the US Federal Reserve to raise interest rates in the coming months, following the end of its third round of quantitative easing (QE3) programme last October.

QE3, which was launched in September 2012, involved the buying of long-term US Treasury bonds to push long-term interest rates low to support the country’s economic recovery.

In the last six months, the ringgit had also weakened against other regional currencies, including the Singapore dollar, against which it fell 3.63% to 2.6493. The ringgit fell 0.91% against the South Korean won to 0.3184; and 2.9% against the Indonesian rupiah to 0.02801.

Nevertheless, the ringgit had appreciated against the British pound, euro, Australian dollar and Japanese yen over the last six months.

Yesterday, the ringgit was quoted at 5.4080 against the pound, 4.2249 against the euro, 2.8541 against the Australian dollar and 2.9397 against 100 yen.

By Celilia Kok The Star/Asia News Network

Weakening ringgit forces parents to rethink study options

PETALING JAYA: Parents planning to send their children to study overseas, particularly the United States, are beginning to feel the pinch with the ringgit continuing its slide against the greenback.

Many are reconsidering their options by looking at other destinations for their children’s higher studies.

Some are also planning to shorten the study period of their children to cope with the extra costs incurred, while there are those who are thinking of asking their children to take up part time jobs to help finance their education.

The ringgit has slipped to its lowest since August 2009 at 3.5280 to the US dollar.

A media practitioner said he enrolled his daughter for an American degree programme with a local college two years ago.

“She’s doing a twinning course with two of the four years to be spent in the US. At that time, the ringgit was holding up fairly well against the US dollar.

“With the ringgit’s slide now, I’ll have to cough up much more to finance my daughter’s studies in the US,” he said.

Retired pilot Wong Yoon Fatt, a father of two, said he planned to send his 18-year-old daughter overseas as he had saved up funds for his children’s education.

“However, if the ringgit continues to weaken, I may shorten the duration of their studies abroad. From three years, I may consider cutting it to just a year or two abroad,” he said, adding that he would encourage his children to take up part-time jobs during their vacation.

Housewife Noorhaidah Mohd Ibrahim, 61, said if the economic situation worsened, she was prepared to send her 21-year-old daughter Tasneem to study at a local university.

“If we can get the same quality of education here, then why not?” she said, adding that she was planning to send Tasneem to pursue higher education in Britain.

Mass communication student S. Samhitha, 21, said she had a choice of continuing her final-year overseas but opted to stay back because of increasing costs to study abroad. “I can still get the same degree here. However, the thing I will miss is the exposure of studying in a different country,” she said.

Law student Janani Silvanathan, who is in Britain, said she would feel the pinch of the weakening ringgit in her next term when she would have to travel back and forth from Bristol to London weekly.

“Transportation will be more expensive. A train ticket from Bristol to London costs RM180 each now,” the 24-year-old lamented. A 20-year-old film making student who identified herself as Stephanie said she was planning to study in Canada but would have take up a part-time job.

“The depreciating ringgit will not severely affect me but my parents will definitely incur higher costs,” she said.

Law student Lisa J. Ariffin, 25, who is studying in Cardiff, Wales, said she was more careful in spending money, even on food.

“I can’t eat out as often and will always look out for good bargains or offers,” she said.

By Yuen Meikeng The Star/Asia News Network

Related articles:

• Silver lining for property owners in US and UK

• It’s not all that bad for inbound tourism, says MATTA 

Related posts:


Oil & Gas lead to wealth crunch, Malaysian Ringgit beaten and dropped..

 Oil enters a new era of low prices: Opec vs US shale, impacts, perils as Petronas cuts capex

Oil Enters New Era as OPEC Faces Off Against Shale; Who Blinks as Price Slides Toward $70? How Oil's Price Plunge Impacts Wall S...

Crude oil prices fall: subsidy needless, ringgit weaken, fiscal health affected

Malaysia's iconic Twin Towers are seen in the background of the Malaysian oil and gas company Petronas logo at a petrol station in Ku...


Malaysia's petrol price hike when global crude oil prices declined to 3 years low, a reflection of poor financial management!

Timing of latest fuel subsidy cut a surprise PETALING JAYA - The latest round of

AirAsia pilot's son obsessed with video games don't know dad is gone!

Galih, the 10-year-old son of AirAsia Flight QZ8501 pilot Capt Iriyanto, is still unaware of what has happened to his father

SURABAYA: It seemed like any other Saturday morning at the home of Indonesia AirAsia Flight QZ8501 pilot Capt Iriyanto, with the television on and birds chirping outside in Jalan Pondok Jati in an upscale neighbourhood of Siduarjo, East Java.

So much so, a stranger wouldn’t have guessed that the owner of the two-storey bungalow was involved in the air crash last Sunday and remains missing. And this impression was intentional – put on for the benefit of the experienced pilot’s 10-year-old son, Galih (pic).

“Until today, he doe not know what has happened to his father. We are not planning to tell him until the remains of his father are found,” said Capt Iriyanto’s brother-in-law Wahyu Budi Bornomo.

Wahyu, 53, said Galih would usually ask about his father if he did not see him around.

“He would ask if ‘papa’ was home. If he did not see him, he would assume that his father was out somewhere flying – Galih is used to not seeing Capt Iriyanto most of the time.”

He said the schoolgoer’s obsession with video games would keep him preoccupied at home, when asked if he noticed the unusual crowd that had been coming to their residence every night for prayers since the plane went missing.

“He is an avid video gamer and spends most of his time upstairs.

“He would wonder about the crowd (that were coming to the house because of the tragedy), but was never curious,” said Wahyu.

When The Star visited the house at 8am local time, his wife, Ida, was talking to her sisters at the porch, politely declining to be interviewed.

“Maaf ya, nanti aja. Saya ngak mau cakap. (I am sorry, just wait. I do not want to talk),” she said, before walking back into the house.

Clad in a T-shirt and shorts, Capt Iriyanto’s daughter, Ninis, 25, was seen going in and out of the house to run errands.

Wahyu said Capt Iriyanto was “a loving husband and father”, and a caring man who helped his neighbours.

“He will be missed dearly by everyone.”

Not too long after that, Galih, who was still in his Mickey Mouse pyjamas, came down from his room, looking for his sister.

“Smile for the camera!” Ninis told Galih as The Star’s photographer points her camera towards him.

Asked if Capt Iriyanto’s family had been this calm since the news of the tragedy hit them, Wahyu said: “At first, of course, we were all shocked. Ida refused to talk to anyone, but as days passed by, she became okay.”

By Rahmah Qhazali The Star/ANN

Related posts:

AirAsia Flight QZ8501 exploded in mid-air?

It is unlikely that Indonesia AirAsia Flight QZ8501 exploded in mid-air, air crash experts say, as the first pieces of debris were spotted ... 

 

 

AirAsia flight QZ8501 disappearance caps horrendous 2014 for Malaysia-affiliated airline!

AirAsia flight QZ8501 lost contact with air traffic control at 7.24am yesterday. There were 162 people on board - 155 passengers, and 7 c...