Mortgage & remortgage

Taking and maintaining a mortgage loan in Malaysia is an interesting affairs. Seven years years ago, I took a mortgage loan of RM450K to part finance the purchase of a building. At that time, with an interest rate of 1.5% above Base Lending Rate (BLR), I though that was the best package offered by the lending bank.

Recently, I re-assess my loan position against existing mortgage packages offered by the local banks. I noticed most of the banks offer loans at an interest rate of BLR minus 1%. The question I find it difficult to comprehend is, why my existing lending bank still charge me at the old interest rate which is higher ? I called up the bank loan centre, and was informed by the bank employee that, the rate will not be revised downward because it is a contractual commitment on my part.

Somehow, the borrowers are always at the losing end, because when the BLR is revised upward, automatically, we are asked to pay higher rate. How often is the BLR being revised downward ? Why can't the banks just fixed the BLR over the whole tenure of the mortgage loan ? Why can't the bank just automatically revised the interest rate downward whenever they published new and lower mortgage interest rate to secure new customers ? I find it difficult to comprehend why the bank always take better care of new customers than their old customers.

Anyway, between BLR + 1.5% and BLR -1%, it is a huge difference of more than two percentage points. Taking into consideration of the loan sum and tenure of the loan, I would probably be having a saving of more than RM 100K if I switch my mortgage loan to another bank.

So, I contacted two banks, one came back with a offer letter within the week, while the other bank delivered the offer letter the following week. Both the loan package are quite attractive with the so called “zero moving costs” loan at BLR – 1% and BLR – 1.25% respectively. My only concern now is, both banks physical locations are not quite convenient for me to make monthly payments. So I decided to call a bank nearby my office, indicated to them I wish to take a new loan to redeem my existing loan, provided that the interest rate is comparable to the offers I received. The bank Sales Officer reverted to me a day later that they are able to provide the mortgage loan at BLR – 1.25% and collected my documents for application of loan.

About the same time, I contact my existing lending bank to enquire about the procedure to cancel the existing loan and informed them my desire to migrate loan to another bank, giving them the reason that the existing interest rate is too high. The funny part is, the bank personnel told me that they have no problem revising the interest rate downward if only I had told them earlier I am planning to migrate my loan to another bank ! And I was advised to write an official letter to inform them that I wish to have my loan interest rate revised downward to BLR – 1.25% as a formality. I felt uncomfortable with this sort of Pasar Malam approach by the bank and never bother to revert to them.

More than 2 weeks had passed, I still have not received any confirmation from the bank near my office regarding my loan application. So, I called up the bank to enquire, but was told that the application is still under “processing at the HQ” and they will revert to me “ASAP”. I indicated to them that it is almost THREE weeks already, but I was asked to understand their position and be patient. Yesterday, I called the bank again, and was given the same replies. Honestly, my opinion is, the bank is too busy to render service to me because my small loan is insignificant to them. So, I politely told them that I no longer need the mortgage loan and requested them to return all my submitted documents. I called the other bank that i accepted their offer and made appointment to execute the loan agreement the following Friday. After that, I will have to rellook into my other outstanding mortgage loans to maximize my savings.

The moral of the story is, if your properties is currently under a mortgage, on periodic basis, you need to monitor the existing mortgage loan interest rate offered by the banks against the mortgage interest rates your currently paying. If at anyone time, the prevailing mortgage loan interest rate is much lower than your current interest rate, immediately write to your lending bank to asked them to revised the rate downward. I think the other important consideration is, a bank may offer you the lowest mortgage loan interest rate and has a physical address nearest to you, but if the bank is so bogged down by formality, hierarchy, and indifference, they will not be able to provide you the necessary customer service in the future. You will be better off taking a mortgage loan with slightly higher interest rate elsewhere.

Forget not.......

Between 1915 and 1918, religious, cultural, economic and political differences between Turks and Armenians were exploited by the dying Ottoman Empire at the expense of the minority Armenians in Turkey. As a result, more than two million Armenians living in Turkey were either murdered or forced out from their historic homeland and their properties looted. Not less than 1,500,000 Armenians were massacred.

The United Nations' definition states that any “act intended to destroy in whole or in part, a national, ethnic, racial or religious group” is considered as Genocide. France, Canada, European countries, and more than 20 other countries in the world had officially recognized the killings of the Armenians as genocide. The United States' House committee passed the Armenian genocide resolution on October 10th 2007. Angered by the USA initiative to relook into this sad episode of humanity, Turkey recalled its ambassador to Washington on October 11th 2007.

I presumed most of the instigators of the massacres and lootings are already dead burning in hell. Looking forward, may the merciful God soften the hearts of their descendants to be remorseful of their ancestors past actions and take steps not to repeat those atrocities. Hopefully, may the descendants of those looters and murderers has the decency, righteousness, and religiousity to return the loots and compensate the victims meaningfully. Sad to note that, until today, there are still countries, out of political convenient, immorally refused to recognized uncivilized treatments and genocide committed on the Armenians. What pride and credibility does a nation has when it refused to acknowledge the past, apologize for her past misdeeds, and take appropriate actions to heal the wounds of the past ?

"Who, after all, speaks today of the annihilation of the Armenians?" With that chilling quote, Hitler was inspired by the inactions of the world to commit another genocide during the second world war.

May those criminals and instigators of hate crimes repent for their sinful deeds, be remorseful of their uncivilized actions, not be blinded by immoral pursuits of wealth and unsustainable political power, and their hearts be graced to appreciate God's created cultural diversities.

For more information on the Armenian Genocide, visit HERE and HERE.

We are now in cloud 9 ?

The Expedition 16 crew members pose for a portrait at the Johnson Space Center. From the left (front row) are Russia's Federal Space Agency cosmonaut Yuri Malenchenko, flight engineer and Soyuz commander; astronaut Peggy Whitson, commander; and Malaysian spaceflight participant Sheikh Muszaphar Shukor. From the left (back row) are European Space Agency (ESA) astronaut Léopold Eyharts, astronaut Garrett Reisman and astronaut Dan Tani, all flight engineers. Source : NASA Website

Ooh, now I know, the correct translated word for Spaceflight Participant in Bahasa Melayu is called Angkasawan. Can Anybody tell me what is the Bahasa Melayu word for Astronaut and Cosmonaut ? Bolih-or-not ?

Tonight at 9:22pm, all Malaysians will be very proud to have our first Malaysian, Dr Sheikh Muszaphar Shukor, to participate in “Expedition 16” into space on board the Russian's Soyuz TMA-11 spacecraft. The spacecraft is expected to dock at the International Space Station (ISS) for 8 days, and hopefully return to mother earth safely on October 21st 2007.

For a Malaysian to qualify as a space participant in the Russian's space expedition, Malaysian government need to pay for the trip. How much ? I don't know. Maybe RM 20 Millions ? And, made billion dollars purchase of Russian fighter jets. How many billions dollars ? I don't know ? Whatever it is, we are a rich country with lots of money to spend. I think it is worth our pride to invest and finance the Russian's space expeditions. We already have our longest bridge and longest bridge. We also had our countrymen scaled the highest mountain the world, now we are putting up a Malaysian into space, I guess the next one is to plunge Malaysians into the deepest blue seas.

“It's a small step for me, but a great leap for the Malaysian people” said Dr Sheikh. Well, I do hope these words will not be abused by party-hopping politicians as votes seeking slogan for the cumming general erections. According to local news report, Dr Sheikh will host a Hari Raya party to treat the cosmonaut , astronaut, and whatnot on board the spacecraft on the first day of Syawal with Satay and Raya cookies. Not bad, a Kenduri near the realms of God. We should seek Guinness World Records recognition as being the first country to celebrate Hari Raya in space.

On a serious note, beside celebrating Hari Raya in space, it is a working trip for Dr Sheikh. He is to conduct study on microgravity and space radiation on cells and microbes. He will be also conducting experiments with proteins to discover cure for HIV. Let's hope the government can publish the results of the studies and experiments. I really hope it benefits all Malaysians, otherwise, it is sinful to waste tax payers hard earned money. Whatever it is, Malaysia has earned the recognition as being the first country in the world to publish a guideline on how to pray to God in space.

Whatever it is, let us all wish Dr Sheikh a successful voyage into space and a safe journey home.

In the name of God, heaven awaits sinners ?

This little blue marble called earth has a population of approximately 7 billion people. Of these 7 billions people, approximately 6 billion people belonged to the four major religions of Christianity, Buddhism, Islam, and Hinduism. The balance 1 billion people embraced not less than 30 type of different religions. And within each religion, there are also various sects or groupings.

With the exception of Christianity, no one single religion command more than 30 percent of the population. So, who are we to say that only our religion deserved the merits of God as the TRUE religion ? In this perspective, why are some of us willingly allowed ourselves to be misguided to commit misdeeds against followers of other religions in the name of God. What perverted pleasures can we derived by dominating and wiping out other religions ?

We go around the world crusading prevention of cruelty to animals and to protect endangered species, but are illogically incapable of appreciating and respecting each other cultures and religions. We glorify death over life, and violence over peace in the name of religion, Is human life of lesser worth compared to animals ? Some of us fellow human beings are indeed a bunch of monkeys swinging from tree to tree shouting incoherent languages demanding to be respected with our demented religious upbringings.

Almost all religion believe in the existence of a single universal God. All religions claimed to preach love and respect, but in practise, religions had been the main causes of all major violences and instabilities in the world. Looking at the various religiously inspired conflicts, it does gave an impression that, religions have lost its spiritual sense of morality, and had been consistently degraded into political movements to achieve satanic agenda.

In my adult life, I do encountered many senseless religious preaching in the name of the so called all merciful God. There are always religious people of various religions trying very genuinely to preach the wholesome goodness of their religions, and with all sincerity trying convert people into theirs. For they single heartedly believed that their religion is the only TRUE religion, and their GOD the only TRUE God. But, when their religious values are not accepted or when they failed to convert people from other religions, they became irrational animals with misplaced angers and hatreds violently venting their frustrations and wanting non believers to die in hell.

There are also times, I had been directly or indirectly preached by followers of other religions and enticed with the concept of heaven and hell. I was told, if I convert out from my religion, salvations awaits me, and I will be rewarded with an after life of paradise in heaven. The beautiful part is, I will be given many beautiful virgins, tasty wine, succulent fruits, and good foods. Whatever I do in the name of my new found God, be it a criminal intent, barbaric act, or otherwise, I shall gain credit points on my way to heaven. The sad part is, if I do not convert, no matter how many good deeds I performed, an unbearable after-life of burning hell awaits me. So much about the peaceful and forgiving natures of some religions with actions inconsistent with the preached words.

As far as I am concerned, religion should always be remained as a private and individual matter. Individual rights to embrace religions of their own choice should be respected and protected at all costs. Each and everyone of us has our own spiritual and material path to pursue. For that matter, be as religious and as spiritual as the good book dictated, but in the best interest of humanity, have the right mindfulness to keep our belief to ourself and in the privacy of our own homes. Most religions are formed many hundreds or perhaps thousands of years ago, what worked then as a political movement to unite people does not necessarily works now in this modern age. We are now in the 21st century, it would be better for the sake of humanity if all of those so called religious people and the followers of all religions appreciate and respect the diversities of other religions. Wouldn't it be better to live a peaceful and material life ethically and respectful of other people's religions ?

Would we be able to go to heaven with lots of credit points to redeem virgins, wine, and good foods by over jealously imposing our religious values on others ? For that matter, would we be able to have a good after life by trespassing and transgressing the religious rights of other people through intimidations, violences, harassments, and threats ? Well, I don't really know whether there is a promised heaven, we will only know after we are dead, and dead man tells no tales. Religion is after all an illogical science of promised illusions and delibrate confusions. A piece of sincere advise, if your religion dictate you to disrespect other religions and encourage you to commit criminal and wrongful acts in the name of your God, perhaps you should seriously assess the teaching of your religions logically and ethically. Let us not get confused by preachings of misguided hatreds and intolerances, or be deluded by the promise of pleasurable heaven to cause harms on others.

So, the next time some body come to you with the statement beginning with “in the name of God....”, please avoid them at all cost ! Let's be practical, do you think God actually commissioned these harlots to spread the messages of narrow-mindedness and ignorance ? If God has a message for you, he will communicate to you directly. The all powerful and almighty God does not need misguided sinners to spread his messages.

Like it or not, religion can be manipulated into a poweful weapon of mass deception. In the name of God, what deceits are human beings incapable of ? In the name of God, evil has become us !

Remembering her.....

How time flies, it has been 13 years since my beloved mother passed away. Tomorrow is my mother's 13th death anniversary. Since tomorrow is a working day, I brought forward the Taoist's prayer ritual to today to pray for her soul. May the all knowing Buddha and merciful Kuanyim lift her soul in the paradise of the Almighty.

Typical of woman of her times, my late mother never attended a single day of formal education. She was born in China. When she was a young girl, my maternal grandparents brought her to Malaysia, and resettled in the small fishing village of Kuala Sebatang near Taiping. After the second world war, my maternal grand parents went back to China leaving behind my mother. Today, I still have relatives from my mother side living in China and Hong Kong, but I had lost contact with them.

During my childhood years, we do not have telephone, email, yahoo messenger, or skype. Communications are done through physical letters. I still remember how my mother used to ask me to read out to her letters from her parents, brothers, and sisters from China. She will sat there quietly and attentively as I read out the contents of the letters. Occasionally she shed tears, displayed joys, and some times laugh out heartily as I read out and translated the letters to her in Hokkien dialect. It must be tough for her to be illiterate. Not able to write and read, always need to depend on third party to communicate with her loved ones. I recalled she always reminded my father to ensure all my brothers and sister have good education. In her words to my father, “no matter how poor we are, we must not be poor in educating our children. Our children life will be better if they have good education.......”.

Remembering my late mother, for what I am today, I am forever grateful to her. I am a very blessed person because I once had a mother who loved me unselfishly and unconditionally. For better or for worst, she stood by me. When I was down, she lifted me up. When I am weak, she held me, nursed me, and gave me strength to be able to stand up again. For whatever wrong that I made, somehow, she had her own way of making it right for me. When I am down and everybody seemed to gave up on me, she was able to see the best in me, gave me words of encouragement, gave me hope and faith to shoulder on. She let me made my own decisions, and supported me in every which way she can. No matter how difficult the situation is, she was always there for me.

Mother, thank you very much for all your love, support, care, and faith in me. May the almighty continues to bless your soul. Thank you, thank you, thank you, thank you, thank you, thank you, thank you, ............

Om Namo Amithaba Buddha.