The Star Online: Business
The Star Online: Business |
- UK household finances worsen sharply in December
- FBM KLCI up on window dressing
- How to spot questionable get-rich schemes
| UK household finances worsen sharply in December Posted: 23 Dec 2012 07:06 PM PST LONDON: Britons suffered the biggest deterioration in their finances in seven months in December and turned more downbeat about 2013, a survey showed on Monday. The Markit Household Finance Index fell to 36.8 - the lowest since May - from November's near two-year high of 39.3, sinking further below the 50 level that would mark no change in the financial situation compared with a month ago. Around a third of respondents said their finances had worsened in December, while only 6 percent reported an improvement. Overall, households also felt less secure in their jobs than in November. "The latest survey suggests that domestic consumer demand will remain under pressure in the near term, especially since inflation perceptions remain elevated and job insecurities are prevalent across the UK," said Markit economist Tim Moore. Three quarters of respondents expected their finances to worsen or to show no improvement next year. In a further worrying sign for policymakers, inflation expectations for the year ahead picked up slightly from the three-month low posted in November. The survey of around 1,500 people was conducted between December 13 and December 17. - Reuters |
| FBM KLCI up on window dressing Posted: 23 Dec 2012 06:57 PM PST KUALA LUMPUR: The local bourse's benchmark FBM KLCI was up in Monday morning trade on funds' window dressing activity. The index gained two-thirds of a percent to 1,669.65 at mid-morning. Most Asian markets were up with Hong Kong's Hang Seng Index and Sydney's S&P/ASX 200 were both up a fifth of a percent to 22,546.47 and 4,633.10 respectively. MIDF Investment Bank Bhd research head Zulkifli Hamzah expects the FBM KLCI to end the year 1,670. "For the year until Friday, the KLCI had gained 8.4%, overtaking the Dow Jones and Taiex," he said in a report today. At Bursa Malaysia, gainers outpaced losers 178 to 173 while 209 other counters were traded unchanged. Volume was thin at 169.53 million shares and turnover of RM159.87 million. Plantation stocks were among the gainers. KLK rose 54 sen to RM22.06, Genting Plantations added 17 sen to RM8.50 and Keck Seng was up 18 sen to RM4.19. UMW rose 16 sen to RM11.96 after its proposed sukuk musharakah to raise up to RM2bil was approved by the Securities Commission last week. Petronas Gas jumped 68 sen to RM19.78 and Petronas Dagangan gained 44 sen to RM24. The greenback was quoted at 3.06 to the ringgit at 10.30am. |
| How to spot questionable get-rich schemes Posted: 23 Dec 2012 05:46 PM PST SOMEONE once said: "The desire to be rich is human but to get there quickly is divine". In a world where instant gratification thrives, getting rich quickly removes all the hard work and time required in acquiring wealth. But when a scheme promises you the sky, it may eventually spell more headache for you than imagined, JOYCE CHUAH writes. How do you spot a scheme that spells trouble? When it sounds too good to be true When a proposal seems too good to be true, it really isn't. A guaranteed return of anything more than a risk-free rate should raise a flag for you. The catch word is "guaranteed" as no one can guarantee you any return besides published FD &saving rates. When it is not sustainable Sustainability is based on fundamentals. For example, if a proposal tells you that there is no downside or bad times, the fundamental basis of demand and supply has been violated. When it has a short incubation period A proposal that promises returns in a short period of time should raise a red flag. "Short" is generally considered as anything less than one year. An investment scheme or a business needs to have a relatively acceptable incubation period. Promises of returns within a few months must be questioned as to how that can be derived. When your gut feel says "stop" Greed is part of being human. But there is a part of our subconscious mind that protects us from being hurt that is our gut feel. When you hear that little voice saying "stop", listen to it. Tune out the excitement and stop the rush to get into such schemes. There are essentially no "get rich quick" schemes that work but there are certainly slow ones that do. When you get your financial life reorganised, identify where you are wasting your money and then get the right money management strategies to work for you, getting rich slowly may not be that slow after all. Patience pays. Greed punishes. |
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