It has been a hectic year 2009 for me but somehow it gonna finish in 3 more days. Anyhow, I have finally completed my thesis title “The non-Muslims perception on Islamic financial products: A case study in Taman Tun Dr. Ismail, Kuala Lumpur,Malaysia.”

Below is the abstract of my research:

This study is about the non-Muslims perception on Islamic financial products. These products have shown tremendous growth in the past 20 years. Islamic financial products are based on Shariah and Islamic accounting principles unlike conventional financial products that based on interest. Shariah applicable principles are Mudharabah, Musyarakah, Murabahah, Al-Bai Bithaman Ajil, Al-Ijrah etc.

Finding the non-Muslim perceptions are important in order to strategise effective solutions like marketing, services quality, finance returns etc. The main objective is to find out the non-Muslims opinions towards Islamic financial products. This study also tries to determine the non-Muslims preferences between Islamic and conventional financial products. The other element is to study the factors could influence the non-Muslims selection criteria about Islamic financial products in dual banking banks.

This study could benefit the non-Muslims customers as knowledge on Islamic finance and the banks to understand the non-Muslims customers’ perception; hence to improve on the areas needed and eventually lead to effective marketing.

This study had been conducted by choosing 100 customers of Maybank and CIMB Bank as the respondents. However, the limitation of this study is only concern to a small number of respondents. Personal interviews have taken place to get the primary data.

Findings show that the non-Muslims have moderate awareness about Islamic financial products. Many do believe that there is some benefit to use Islamic financial products but not doing so yet due to unfamiliarity. Generally, the non-Muslims have positive perceptions towards Islamic financial products but still lacking confidence at the moment.

Banks accept deposit from individuals and businesses and makes loan to individual and businesses for consumption and investments. The process begins when savers who have surplus spending decide to deposit their money into the banks. Then, the banks transfer those savings to the borrowers (deficit spending) as a form of individual or business loans. Hence, the borrowers can use the money for consumers spending like buying houses, cars, education, etc.

A high level of consumption market will eventually increase the standard of living of the population. These loans can also be used for investment purposes like investing in stocks, new projects, start up companies etc. More jobs will be created out from these new investments. It also could spur the economic growth of the country. Businesses and manufacturers will produce more of their goods.

However, the borrowers need to pay back the principal loan amounts plus interest to the banks. Interest rate is fluctuating and determined by the central bank. The consumers and government have inelastic demand towards the changes to interest rate. But, foreigners and business operators (local, foreign owned) have elastic demand in relations to interest rate changes.

When the economic is strong, more people will become savers and the process of banks giving loans continue to progress.

Customers leave a branch of Malaysia's Maybank in Putrajaya October 9, 2009. ~ Reuters/Bazuki Muhammad

I have decided to put some effort into studying about venture into organic farming business. I don`t take chances on Jim Rogers forecasting the coming agriculture boom.

The world is risk facing shortage of food…but why the food prices still not skyrocketing yet? or it will soon be..maybe in 10 years ,,20 years time…no one know..

One thing I observe  that people are getting more serious about what they eat.

Organic food!!

Yes,,,organic food are getting increasing demand from the consumers. But not all people consume organic food beacuse of the higher premium paid compare to conventional food. Without doubt…organic or non-organic,,human must consume food.

This sum up that agribusiness is a potential business venture.

Organic dragon fruits farming

These pictures being taken during my visit yesterday to the Zenxin Organic Farm located at Kluang, Johor.

Organic farming

Sound interesting,,,if you too wanna know more about organic farming,,,,you can make a trip down there.

“Many times, you have said that the sectors with potential are farming and mining. How do ordinary people take advantage of such opportunities, apart from marrying a farmer? – Ng Shi Ping

It is a good idea to go into the farming business. You don’t have to marry a farmer to do that. There are other ways to do that. You can go into a business which sells to farmers, like selling seeds, tractors or farm equipment. You can even move into a farm area and open a shop. Farmers will be very well off in the next few years. You can be an accountant, a hairdresser, a lawyer but you offer your services to a farming community. The best way is to be a farmer. – Jim Rogers ” ~ Your 10 questions, The Star 12 September 2009

I think he might be right, farmers will be very well off when the economic crisis start at full force. Food will be in huge demand.

There are opportunities in farming. But many ordinary people may think of how to start? Where to get funding? How to get the land to do farming?

You may visit Agrobank website to find out how to kick start your new career as a farmer.

Good luck everyone!

I am wondering how many of you guys like watching reality TV series? Likes The Janice Dickinson Modeling Agency, The Apprentice, Majide, to name a few…

Interesting enough, I notice that many episodes in The Apprentice have requires the contestants to push their skills on project management. Pause, I am thinking that it would be so nice if we could have a local reality TV show on project management. Yeah,,a Project Management reality TV show on contestants managing different tasks of renovation, Mechanical & Electrical and Civil & Structural works etc.

Some real squabbles that I could think of are:-

Scenario 1

Derick (Project Manager): Why are you cutting the ceiling at this late site progress stage?

James (Electrical contractor): I need to high level the conduit on top the ceiling.

Derick (Project Manager): Why not you did this earlier?

James (Electrical contractor):  The positioning of the new points not being confirm until recently.

Michael (House owner): Phone conversation: Derick, I cannot risk not having my house warming party by this month end.

Derick (Project Manager): Ok,Mr. Michael. I will make sure you do.

Derick (Project Manager) to James: I will make sure you paid for this. Fxxk….

 Scenario 2

Henry (Door access contractor): Mr. Bob, we got a bit of problem here, I have to punch an opening into your slab to enable my wiring to come out from level below.

Bob (Project Manager): You crazy!..your action will damage the waterproof underneath the slab. Are you going to pay for the warranty?

Henry (Door access contractor): Any suggestions?

Bob (Project Manager): I don`t know,,you tell me!

Both parted ways without any solution yet

 Scenario 3

Ray (Project Manager): How many times I need to tell you to clear the debris after you finished hacking the brick walls?

Melvin (Electrical Contractor): A few times maybe. (Pretend to listen and continue working)

Ray (Project Manager): Hey, seriously! I am reminding you again and again and again!

Scarlett Johansson

Haha,,what do you think? I wanna know…these scenarios are quite common to happen as my experience of seeing it.

Oh,,not to forget,,,,this show need to have a host…and I dream that the gorgeous Scarlett Johansson could just be the one!

One year ago, I wrote an article about project management indiscipline. It has been the most read article in my blog.I feel like wanna write little about my project management indiscipline part 2,,,,or perhaps discipline events.

Ever since I was a teenager, I had encounter strangers who like to share their thought with me. One event happenned somewhere in 2003 while I was just finished a job interview ( been to quite a number prior to that but not successful in nailing any) and sat on a bench outside McDonald Ampark Park, when one working salaryman on lunch time sat next to me while we started a conversation. He told me that “It doesn`t matter about your qualification and working experience, the most important is how do you perform during an interview”.  Since then, I achieved many successful job interviews but this is not what I am going to blog right now,,maybe I will blog about the secret to nail a job during  interview in my next post.

When I apply this to project management; this could be mean that it doesn`t matter about adopting real project management discipline or indiscipline, the most important is how do you smoothly manage the project during the implementation.

Some project manager work very hard just to make sure everything is on order, some rely others to do the job, some focus on real teamworks, some are forcing the contractors to follow every his commands(often being hated), some are rational (but this type of PM are always being taken for granted), and many more.

My project management at Bukit Kiara

The project manager should use varieties of attitude and approach when dealing against each different type of person or party. The is no right or wrong in situation like this, just think of your best option and do the execution. Other might think you did the wrong decision but you must be sure you do the right thing in the end.

Relax living at East 12 @ Kiara Heaven

~In the 1930s, we had a huge stock market bubble which popped. And then politicians started making many mistakes. They became protectionist. They made solvent banks take over insolvent banks and then both banks failed in the end. They are making many of the same mistakes now. What’s different this time is that we are printing huge amounts of money which they did not print at that time. So, we are going to have inflation this time. ~ Jim Rogers, 20 June 2009.

Emhhh, how do I need to evaluate this situation to China and Malaysia?

Jim Rogers had predicted that inflation could set in. I guess he was mentioning to United States,,,,or maybe the whole world. I am interest to study the impact of the inflation in United States to the rest of the world.My prediction is that if inflation really to be taking place in United States in near future; China and Malaysia could be severely effected as well.

My analysis is based on the study of currency movement between US dollar and these 2 countries. When US dollar was strengthening against the Euro, British Pound and Australia Dollar in late 2008 and early 2009, the Yuan and Ringgit Malaysia were following the US dollar pattern to strengthen. Now, we are seeing the same happenning to Yuan and Ringgit when the US dollar weakening.

The summarize that US dollar, Yuan, Ringgit are moving in the same basket versus the basket that consist of Euro, British Pound, Brazil Real and Australian dollar.

So, if United States will go into inflation, I need not to tell the answer about China and Malaysia.

You can figure it out.

~ Well, again, throughout history, the center of the world has shifted to where the capital is, where the assets are. You don’t see any period in history where things are shifting to the debtors, and America’s the largest debtor nation in the history of the world. Unless something’s different this time, unless the world’s changed very very dramatically, the center of the influence, the center of power, the center of the earth, the center of the globe, is going to be shifting towards Asia, because that’s where all the money is. Have you ever heard of anybody saying, “Let’s go to where all of the debtors are”? It just doesn’t happen that way. ~ Jim Rogers, Time, 28 April 2009.

Jim Rogers, author, commodities investor and co-founder Quantum Funds, speaks at an event in New York. ~ Eric Thayer / Reuters

WOW, I was amazed that he said Asia is the future economic centre will be.

Southeast Asia :- Malaysia, Indonesia, Singapore, Thailand, The Philippines, Brunei, Vietnam, Laos, Cambodia and Myanmar.

These countries which have diversity of cultures and religions would be the next economics powerhouse.

I am studying the potential economics strength of these countries briefly:

Singapore : Currently is the richest country in Southeast Asia holding US$166Billion as at March 2009. Strong and stable currency.

Malaysia : Pioneer and the largest Islamic finance market. Kuala Lumpur could be the next financial hub for the world like London and New York.

Petronas Twin Towers, Kuala Lumpur

Indonesia : Abundance of resources; oil, sugar, rice, tin, palm oil, vegetable oil, copper, etc

Thailand : Strong and advanced manufacturing backbone.

Vietnam : Cheaper manufacturing costing. Strike a competitive advantage.

Brunei : Rank no. 27 in Human Development Index.

This is looking to be great!!

KL Tower, Kuala Lumpur

Welcome to Southeast Asia !!!

Santiago Niño Becerra, professor of Economic Structure in Barcelona had predicted already by July 2007 that was going to happen was that by mid 2010 there is going to be a crisis only comparable to the one in 1929. 2010 is not yet here, but we are seeing the crisis already in the stock market. Or maybe we are not. To Niño Becerra what is happening since september 2007 to date, even the huge losses of the past month, is just a prelude to the much bigger crisis that is coming by mid 2010, and that according to his predictions it might last 10 years, with the period of 2010-2012 being the worst of all. He describes year by year how the crisis is going to happen (even giving exact months for certain events), here is a quick summary of his predictions.

September 2007 to October 2009: Prelude to the crisis. Governments would take measures to avoid “things going worse”.

October 2009 to May 2010: The believe that “things are not working the way they should” starts to spread out.

May 2010: The Crisis starts with all its force.

2011: The worst and hardest year of the crisis.

2012-2015: Governments regulate the economy and people accept it because they are in shock after what happened.

2015-2018: Slowly and not without problems the economy starts to pick up and improve slightly.

End of 2018: End of the crisis.

It is of course only a prediction of what might happen, but for some reason seems to be based on solid ground.

Looking at the positive side, the world economy will start to slowly recover in year 2015. However, we must save enough for the heavy rainy days to come in 2011.

Be prepared!!!

SAVE RINGGIT!   SAVE RINGGIT!   SAVE RINGGIT!

Monday, March 2, 2009

1 US Dollar = 3.76577 Malaysian Ringgit

1 Malaysian Ringgit (MYR) = 0.26555 US Dollar (USD)