Being Human, Humane, Humaneness, Humankind-redspirit

Beyond the 'Dong Zong issue'by Azly Rahmanin MalaysiakiniI read with interest about ongoing governmental discrimination against Chinese schools, as highlighted by Dong Zong.Why are quality teachers and an abundance of resources still channeled only to Malay-dominated schools? Why are children in Chinese schools criminalised by the ‘sanction on teaching staff” which will ultimately deprive students of a good mother-tongue education?What actually is our illness with regard to denial of the students’ right to their own language? Do policy makers actually understand the relationship between culture, cognition, consciousness and citizenship?What does...

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What's Behind the 2012 Budget Announcements

There are a few key things that we can take away from the 2012 Budget announcements yesterday. Should the minority government survive a number of significant auto insurance initiatives will occur. Note that the Budget also addressed on a number of initiatives that have already occurred or are underway. It is not unusual to repeat previous announcement in particular where they have no monetary impact on the government.1. Auto Insurance Anti-Fraud Task ForceThe section of the Budget document has nothing really new. The announced initiatives were included in Task Force's interim report that was released in December 2011. For example. the government notes that it has amended regulations (see Ontario Regulation 194/11) to ensure that treatments are provided as invoiced and issued a Superintendent’s...

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Auto Insurance Annoucements in the 2012 Ontario Budget

Insurance In 2010, the government made major changes to the auto insurance system. As a result, premiums are stabilizing for drivers across Ontario. Building on the success of the 2010 reforms, the government is taking action to tackle fraudulent and abusive practices, base insurance benefits on scientific and medical principles, and ensure its regulator continues to identify and respond to new and emerging issues. The government’s ongoing work in the area of auto insurance, including fraud, should continue to reduce the pressure on premiums. Auto Insurance Anti-Fraud Task Force The government remains committed to combating...

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Texas Holdem (Ways To Lose Your Money Other Than Playing Stocks)

This is my favourite card game, and the only game I would play when I am at a casino, which meant that I do not frequent the casinos in Malaysia and Singapore. They do not have Texas Holdem for players only (the Carribean and other versions are stupid odds-favouring the casino bullshit games) because its a low yielding game. Money basically changes hands among the players themselves and the house just takes a cut after every hand. Too small for the casinos in Malaysia and Singapore apparently.I don't undrestand that because the biggest gaming place is Macau and Texas Holdem is very big there as in everywhere else.Most people like poker, but nothing can compare to Texas Holdem because of the various possibilities. Many people who play like to think they are good players, me included (lol),...

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Some U.S. States are Considering Credit Score Restrictions

As in prior years, proposed credit scoring restrictions continue to be a focus in many states. Here is a brief recap of some recently introduced bills: Illinois: HB 5839 proposes to require insurers, which are using credit information to underwrite or rate risks, to recalculate the insured's insurance score at the request of the insured, but not more than once annually. The purpose is to determine whether the insured is eligible for a reduction in his or her premium rate.Kentucky: SB 121 would require insurers to provide reasonable exceptions for extraordinary life circumstances, as well as prohibit insurers from declining, refusing to renew or cancel an automobile policy solely because of credit history, lack of credit history or extraordinary life circumstances that directly influence...

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Insurance News - Friday, March 23, 2012

New York Senate Passes Tough Auto Insurance Fraud MeasuresOn Thursday the New York Senate passed three bills to combat auto insurance fraud, which costs New Yorkers more than $1 billion a year, as well as legislation that would impose stronger criminal penalties for staging auto accidents. Recent cases of auto insurance fraud have uncovered massive crime rings, including doctors, lawyers and scam artists who staged accidents and used New York’s no-fault insurance program as their own, giant, state-sponsored ATM machine.Senate Bill 4507B would enable insurance companies to retroactively cancel policies taken out by people who commit auto fraud. Senate Bill 1685 would establish a new felony-level crime of staging a motor vehicle accident. Senate Bill 2004 would make the use of “runners”...

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Music Empowering Women

I still remembered the recent talk show section in BFM which focused on why women aren't climbing the corporate ladder more successfully. The world has never been treating women nowhere near fair since the beginning of time. Just pluck any cross section from historic times. We have made strides over the past 100 years or so but oh, we still are so far from being "fair".In the corporate world, much has been said about women being represented in the board rooms and top management. The US being a much touted place for equality, and even Australia, are still poorly represented in those areas.Do we dare to say women are not as capable? I don't think so. Look at the academic results for the past 20 years, given a fair go, women generally outperform men. Maybe success and a career in the corporate...

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Chart Of The Year

I have always had the same chart, only instead of level of income, I had the level of development of each country. The less developed would see more corruption and so on. The chart below says the same thing but on matters that speaks clearer to us. You want to know how to get higher income per capital (i.e. the average annual income per person for that country)... yes, less corruption.To be fair, there are a few discussion points to the above chart. Indonesia for example has an abnormally large number of islands and people living in secluded areas which may be difficult to reach or partake of the general business economic activity. They...

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Vellapan To the Markets?

A good friend just got back from holidays with her kids and asked what happened to the Malaysian markets? She said that I wrote about the bull market being back and so on. I said, yes, everywhere else the bull is moving steadily... but in Malaysia there are two things which pulled it back. One was the article saying EPF had sold so much shares. That article was true and factual but not complete. And by being incomplete, it gives off the wrong signal to a lot of retail investors. We all know how much retail investors' participation there was since the beginning of the year. Go to any broking gallery now and ask them what shares they are buying, they'd be saying how to buy shares when even EPF is selling.The article is incomplete in that to be a fair article, it has to note the times when...

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Global Capital Flows - Developing Markets

Excellent analysis piece from Bloomberg Markets, my fav biz mag, on global capital flows to developing and frontier markets. Some call it emerging markets, but we need to divide them to developing and frontier to be more precise. Following the sub prime crisis and the subsequent Euro-crisis, the trend towards more exposure for emerging markets should be increased.  How investors allocate their funds is what we call capital flows. Owing to the size of the recipient countries, such flows can make a huge difference to these markets. As much as investors can plough into MSCI markets, they can also take out funds. Last year, the...

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CD Of The Year So Far

Winnie Ho has built up her repertoire well since winning the Astro singing competition many years back. Her resume include two quite brilliant albums under the guise of 2V1G, with master guitarist Roger Wang. I have been waiting for a long time for this to come out since Winnie did a few concerts dubbed as The Jazzy Sounds of Teresa Teng. Those who have been to those concerts know fully well what I am talking about. While Teresa Teng has a very special place in most Chinese music lovers, some of her tunes do sound dated, nothing much she can do about it really.The simply ingenious music arrangement by Tay Cher Siang basically shone a warm brilliant light on Teresa's songs. Coupled with Winnie's resonating yet layered vocals, we have a wonderful album indeed. You will hear and appreciate Teresa...

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New York State Targets Doctors Involved in Auto Insurance Fraud

In the wake of an epic car-insurance scam, New York state officials are preparing to crackdown on doctors who loan their names to clinics that are nothing more than billing mills.New York Superintendent of Financial Services Benjamin Lawsky said he plans to zero in on white-collar criminals in white coats within a month.A rigorous statewide initiative is underway to close medical offices billing for services that are either wholly unnecessary or never rendered to auto accident victims. Under the new regulation, physicians engaging in unscrupulous billing practices to siphon funds from New York’s personal injury protection (PIP) system will ostensibly turn themselves into pariahs, at least in the professional sense.The Department of Financial Services has already identified 135 medical providers...

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Smart Fund Raising Move By Khazanah

This is a smart fund raising by Khazanah, well advised by the investment bankers involved. This enabled Khazanah to lock in better than zero rates funding. It is also potentially giving up its stake (i.e. selling around current price) in Parkson Retail. Only when PR moves much higher will bond holders exchange into PR shares, technically at least 5%-7% upside from here before they consider switching. Its a good strategy if you think PR does not present much further upside (more than 20% over the next 2-3 years). Even so, locking in better than zero rates has to be worth something much more, Khazanah would be paying at least 2.5% I think, so thats...

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Florida Passes Auto Insurance Reform Law

Governor Rick Scott got the legislation he wanted to reform Florida’s mandatory motor vehicle no-fault law and crack down on the abuses in personal injury protection cases that have led to skyrocketing increases for coverage.Whether the new measure will be effective remains to be seen.The measure (HB 119) passed on a 22-17 vote in the State Senate after some heavy duty lobbying by Gov. Scott on Friday, March 9th just before the annual legislative session was to end. The Bill had passed the House earlier in the day.The personal injury protection (PIP) law was adopted in 1972 to make sure anyone injured in an auto accident would quickly get money to treat their injuries. The legislation provided that a driver’s insurance company pay up to $10,000 to cover medical bills and lost wages after...

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The Curse Of Being Rich In Natural Resources (Yes, You, Malaysia!)

We have heard this again and again, the curse of being too reliant on natural resources. There are of course exceptions, countries which are resource rich and deployed their gains well, invested in their people and education system, such as Australia and Norway ... but by and large resource rich nations are always underperforming.Josh Haner/The New York TimesThomas L. Friedman won the 2002 Pulitzer Prize for commentary, his third Pulitzer for The New York Times. He became the paper’s foreign-affairs Op-Ed columnist in 1995. Previously, he served as chief economic correspondent in the Washington bureau and before that he was...

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