Sponsored Graduate Entrepreneur Innovation Programme (PIUS-LEAP)

Kuala Lumpur & Selangor Indian Chamber of Commerce & Industry (KLSICCI) in collaboration with CEDAR of SMEBank are organizing Graduate Entrepreneur Innovation Program. Interested participants shall be screened and assessed to be eligible to attend this program. This sponsored program is worth RM980 per pax and will be a pre-requisite to enable the participants to secure a start up business loan up to RM500,000 from SME Bank .

Date: 9th December until 11th December 2015
Venue : SME Bank , Jln Sultan Ismail , KL
Time: 10am -4pm

PIUS-LEAP is a unique entrepreneur development programme for new and existing graduate entrepreneurs with a strong desire to turn their ideas into a sustainable and bankable business plan. The specially designed 3-day programme provides participants with a set of powerful tools to turn complex challenges into great business opportunities. The programme will also help participants develop a full set of business proposal for the Graduate Entrepreneur Fund financing application.

Who Should Attend:
-Aspiring graduates (employed & unemployed) keen to pursue into entrepreneurship
-Existing young entrepreneurs not more than 40 years old
-Diploma / Adv Certificate holders keen into entrepreneurship

Do email Nivas Ragavan, Chairman, Young EntrepreneurS (YES) of KLSICCI at mahaalakshmi.properties@gmail.com for further communications. 50 sponsored slots available for eligible participants to participate in the organised programme.

Commonwealth Scholarship and Fellowship Plan

Eligibility Criteria:
-Not be more than 45 years of age during application.
-Obtained a minimum of 2nd Class Upper (Honours) or a CGPA of 3.5/4.0 at Bachelor Degree Level for Masters Degree applicants and for PhD candidates must possess CGPA 3.5/4.0 or very good result at Masters degree level in a similar field of intended PhD study. In addition, for post-doctoral programme, the selection will be evaluated based on the number of books produced, refereed/non refereed journals, portfolio and patent copyright. The Post-Doctoral candidate must have excellent reputation in research and possesses knowledge related to the research to be carried out.
-Took one of the following English Language Proficiency Test not more than two years before the date of application. The list of tests and minimum scores required:
IELTS Academic Test with a score of at least 6.5; or
TOEFL paper-based test with a score of at least 580 or computer-based test with a score of at least 230 or internet-based test with a score at least 92.
-In excellent health condition and certified by a Certified Doctor/Medical Professional. The cost of medical examination is to be borne by the applicants
-Wrote a proposal that is relevant to field of studies.
-Has applied for and gained admission to postgraduate and post-doctoral studies in Malaysia (conditional letters of offer will be accepted at the time of application or has a confirmation of acceptance or affiliation with the universities in Malaysia).

Deadline - 31 March 2014

Refer - https://biasiswa.moe.gov.my/INTER/index_csfp.php

ECMLibra Foundation's Study Loan Programme

The Foundation offers study loans to underprivileged and needy students undertaking tertiary education in any approved private or public university or college. The study loan which is interest and bond free will cover tuition fees which will be paid directly to the tertiary institutions and may include cost of living expenses

Eligibility Criteria:
-Be a Malaysian citizen
-Prove eligibility for financial assistance, as means testing will be strictly applied
-Have good academic record and be active in extracurricular activities
-Have gained admission into an approved local college or university for a professional or vocational course.


Refer: http://www.ecmlibra.com/foundation_FAP.asp

Beware of property square feet mismatches

November 13, 2013

In property, size matters! You might want to double check on the square footage of the unit before paying the 2% earnest or booking deposit.

FEATURE

By Shaun Lee
Slight differences between the advertised and actual square feet for your property may seem negligible, however it can actually cost you quite a bit of your money! SaveMoney.my explains:

Imagine this, it’s a Saturday afternoon and you have arranged for a viewing of a condo unit in a development that you have had your eyes (and heart) on for a while. The development has good security, lush mature gardens, with gorgeous water features along with tranquil plants to match.

This particular unit that you have arranged to view was advertised in The Star Classifieds as a 2,000sf duplex unit for sale at RM650k negotiable. Even before you step foot into the unit, you know the feeling is right. And lo and behold after viewing the inside of the unit, you decide to make an offer for the place.

The agent was quick to reduce the price to RM600k but the figure you had in mind was closer to RM580k so you negotiated further, but after rounds of lengthy negotiations the final price was agreed at RM590k (though you did ask for ALL the furniture in the house, white goods and LCD TV! at that price).

Now you proceeded to request for a copy of the original Sale & Purchase Agreement from the seller to confirm the square footage of the unit (It’s best practice to do so before paying the 2% earnest/booking deposit as it safeguards you from potential disputes with the seller. Alternatively, you can do a manual insertion on the booking receipt that the offer is subject to confirmation of the actual square footage of the unit). When you finally get hold of the original Sale & Purchase Agreement, it came to your attention that the unit is only 1,926sf in size! So you asked the agent, “What happened to the other 74sf?”

Size matters
74sf does not sound like a lot. But here is the math behind it:

At RM590,000 for 2,000sf, the price per sq foot is RM295.00

At RM590,000 for 1,926sf, the price per sq foot is RM306.33

Difference in price per sq foot is RM11.33

At the original agreed price of RM295 psf, you should only be paying RM568,170 (RM295 x 1,926sf) for the unit i.e. RM21,830 less than the agreed price.

The sale falls through as both parties could not agree on the price. You were left high and dry. So was the agent who failed to seal the deal.

As such, when making an offer for a place, confirm all that you need to know with the seller before paying your earnest/booking deposit. It’s only right (and fair) to know what you are actually getting before you could begin negotiations. Otherwise, it will end up being a guessing game that is to your clear disadvantage!

Real estate agents, if you are reading this, please ensure you confirm the unit size of the properties that you are marketing so you are not left high and dry when you are so close to closing a sale. It’s only in everybody’s interest for you to do so!

Shaun Lee is the Resident Property Expert at SaveMoney.my, Malaysia’s Number 1 Money Saving Community that helps you save RM1,000’s on Banking, Credit Cards, Loans, Phones, Travel, Shopping, Property and Taxes.

Should you take out a joint loan?

November 14, 2013

Here are some things to keep in mind if you are thinking of a joint loan.

FEATURE

By Diana Chai
With the prices of property escalating way beyond most people’s reach, the only way you could likely own a home is to opt for a joint loan. Two incomes are of course better than one. But that isn’t the only reason you could be signing your John Hancock next to another person on a credit application. Perhaps a loved one has asked you to be guarantor or you yourself are in need of one. But whatever the reason, co-signing a loan is a big decision and will henceforth mean that your credit rating will be tied to that other person whom you just signed the documents with: For better or (financial ruin) worse.

With such high stakes, a joint loan account should be carefully considered. It is not to say you should not, under any circumstance, take out a joint loan but you may have to give much more thought. Here are some things to keep in mind if you are thinking of a joint loan.

What it means to co-sign
When you take a joint loan, you are essentially linking your credit history to the other person. You are now not only responsible for putting in your share of payment; you are jointly responsible for insuring that the other person pays their share too.

Standing as guarantor has been one of the top reasons many people end up bankrupt and unawares – you get saddled with the blame when the co-signee doesn’t pay up. Many guarantors remain unaware of their bankruptcy status right up until the office of the Director General of Insolvency starts calling.

To top it off, ending a joint loan can be a messy affair. If there is property involved; you may need to sell the asset or obtain refinancing if either one party should wish to retain it. Depending on your arrangement with the co-signee; you may need to ‘buy them out’ of their share in the property.

What risks are involved?
Most people would advise against taking a joint loan. It’s difficult to predict how financially responsible a person is going to be no matter how well you know them. Sometimes, due to extreme financial hardship, even a genuinely good paymaster could default on payment and both of you could land yourself in financial trouble. Tables could always turn too and you could find yourself being the one who defaults on repayment putting your co-signee at risk.

To pre-empt any such an undesirable outcome, discuss the risks involved with your co-signee at an early stage. Ensure both of you are aware and feel ready to take on the joint risk. If so, come up with a plan of action should either of you find yourself at risk of defaulting.

How to reduce the risks involved in joint loans
As a joint account holder, these are some steps you can take to reduce the risk for both yourself and your co-signee.

Take as small a loan as possible – The smaller the principal amount taken, the lesser the amount you have to pay back every month. Understandably, property prices are very high but do your best to take the bare minimum amount and avoid top-up renovation loans or any such thing that could add to your debt burden unnecessarily.

Request for payment updates from the bank – You can request notifications from your bank that are channelled to both of you and not the just the principle name on the account. This allows both of you to keep track of payments.

Keep detailed payment records – It’s easier to keep track if one person is assigned to pay the monthly instalments. Decide amongst yourselves who should do this and the other can provide a ‘check and balance’ system. The person designated to pay must do so at the stipulated time upon receiving the due contribution from the other party. The ‘scorekeeper’ must then take hold of the receipt of payment for record-keeping purposes.

Create a comprehensive exit plan – In cases of a possible default, come up with an agreement on what should be done to rectify the situation. This could mean selling the property and splitting the proceeds or the retaining party repaying the other for their contributions to the loan thus far.

It is important to realise that when you agree to take out a joint loan, you are also taking on responsibility for the other person’s personal finance habits to a certain extent. However, if both of you are committed to making the arrangement work and if all stopgap measures are adequately in place, you could very likely see the arrangement through to the end.

This article brought to you by Diana Chai from RinggitPlus.com. We believe all Malaysians should have access to free, accurate and independent personal finance information.

Sijil Kemahiran Malaysia / SKM - JPK Intake 2013 -Pastri / Pastry

SEGi Training Center is conducting SKM / JPK course.
The details are as below:

A Brief Introduction

To train the youths of school leavers with skills in Pastry preparation and enable them to work as a supervisor in the Food Industry Food, Hospitality, Government, or even venture into entrepreneurship.

Students will be evaluated based on their appearance in terms of knowledge, skills, behavior, cleanliness, safety and ability to perform the practical work.

Through skills-based training, students who succeed will get the Malaysian Skills Certificate (SKM) issued by the Department of Skill Development (JPK).

Certification

Students who successfully (skilled) in the Skills Training will be awarded the Malaysian Skills Certificate (SKM) issued by the Department of Skill Development.

- Pembantu Penyedia Pastri (Commis Pastry) - Level 1 (L-110-1)
- Penyedia Pastri (Pastry Cook) - Level 2 (L-110-2)
- Ketua Seksyen Penyedia Pastri (Chef De Partie - Pastry)) - Level 3 (L-110-3)


Career Prospects

Students who have completed the training will have the opportunity to obtain a career in the following work: 

• Hotel
• Opening Own Business
• Trainers in private colleges or public.

Study Period

• Level 1 - 6 Months
• Level 2 - 6 Months
• Level 3 - 12 Months
• 3 Months Industrial Training

Facilities Available

• Tools equipment modern learning and current.
• Library and training materials are complete.
• Equipment and materials are adequate.
• Trainers are qualified and trained.
• Hostel Facilities
• Pocket Money or Monthly Allowance available.

Qualification for

• Level 1 and level 2: SPM / SPMV
• Level 3 with SKM Level 2 in a related field.

Other Requirements

• Malaysian
• Regulated Health and Disability Members
• Aged between 17 ~ 30 years
• Not have committed criminal offenses and drug abuse
• Willing to follow all regulations.

Should you need further clarification, please do not hesitate to contact 012-3262 108 or pervindranrao@segi.edu.my for a personalized consultation.

>>> Click Here for Online Enquiry <<< 

Free Talk - POWER! Unggal Nithi Nirvaagam by AKPK (a Bank Negara's subsidiary)

POWER! Unggal Nithi Nirvaagam is a free Financial Education organized
by AKPK (a subsidiary under Bank Negara). It's a 4 hours course which
will be conducted in Tamil and participants will be given a
certificate of attendance at the end of the course.

Topics
-Personal Budgeting
-Cash Flow Management
-Managing your housing and car loans,
-Smart usage of credit cards and etc.

Details;
Date : 23 February 2013 (Saturday)
Time : 9.00 AM – 01:30 PM
Venue: Briefing Room, Level 8, Maju Junction Mall, 1001, Jalan Sultan
Ismail, 50250, Kuala Lumpur
Target Participants: Young adults
More information and reservation visit www.akpk.org.my

If you have any queries you may contact Nirmala at nirmala@akpk.org.my

Shell Malaysia Scholarship 2013

The scholarship is open to all Malaysians planning to pursue an
education in institutions of higher learning, both locally or
overseas. Please note that disabled students are also encouraged to
apply.

For further information and to apply, please go to www.shell.com.my >
About Shell > Jobs & Careers > Students & Graduates > Scholarships.
All applications are to be submitted online.

Deadline - 30th January 2013