Age: 38
Occupation: Own Business (Oil & Gas)
Marital Status: Marry
Children: two (12)(14)

Asset(s):

Bangalow lot :-
a) Damansara Kuantan (7.2k sqft) - Freehold
b) Astana Golf Resort (12.75k sqft) - Leasehold
c) Bkt Jalil Golf Resort (12.5k sqft) - Freehold

Car :-
a) X6 M
b) CLS 55 Amg
c) R8
d) Alphard
e) A4

Liability (ies):
Loan Installment, not an issues cause Dividend/Interest can settle it every year...

Investment:
Saving: RM1.25m
Current: RM750k
FD: RM36m
Mutual: RM2.5m
Invest in Business: >RM5.0m

Thanks.. actually bank help me a lot, always use bank paper to get bank money to make money... just sacrifice a little bit on bank charges... I'm referring to SBLC & LC...

This post has been edited by Oldskolboyz: Oct 13 2011, 09:32 PM

Manufacturing & sale mechanical seal, pump & valve...

This is the most idiot one, just simply point finger to others.... my business nothing to do with kronies or politician, I supply to Hong Kong, Singapore, China & Middle East.. Not even once I got chance supply to Petronas cause they got Vendor Development Program (VDP) holder. Even though I have VDP contract for Pump & Valve but still in R&D (since Sept' 08, spend USD2.5m). My self not even think 2nd stage for API & Lloyd boards testing at this moment... Mechanical seal size 3" price USD62,500 each... USD62,500 x <1200 unit p.a (max) = USD75m @ RM3.00 = RM225m (profit 40%)

I can call U an Idiot cause can't think Business Vs SBLC & LC.. just for Ur info SBLC/LC always used for overseas trading. Especially SBLC, Issuer banker must be from overseas bank. Local trading, people always ask for credit term...... 30 / 45 / 60 days

Another bad experience I got, lost 2 unit Apartment & a unit Terrace house in 2007 to "Along".. Who has deal with "Along" before, they know how scared they are...

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Added on October 14, 2011, 11:28 amNormal FD... just for Ur info... RM36m just a little, got a lot people place FD >RM60m.. even younger than me got RM100m in FD...

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Added on October 14, 2011, 12:19 pmBank paper mean your buyer bank paper like Standby Letter of Credit (SBLC), Letter of Credit (LC), Documentary Credit & etc.. Let say U have contract supply Coal (just example) to China with payment trough LC (per shipment) but U have limited capital, RM500k... The best U can do ask Ur buyer issue SBLC for the whole year shipping as collateral, let say USD80m (coal cost USD55m).. After that place your SBLC at your banker for Over Draft Facility but don't ask to much cause interest will charges (std rate BLR + 1.5%).. How much to request?

1) Calculate the whole year Mgmt Cost.. Let say RM1.5m
2) Coal cost for starting till U get 1st Claim, which U can rooling it back. Depends on Ur LC term & condition (std >15 days after delivery).. Let say USD10m @ Rm3.00.

Than U just need OD around = RM31.5m, interest will be charge RM2.5515m (8.1% = 6.6% + 1.5%)... If took OD at whole Coal cost, USD55m @ Rm3.00 = RM165m.. interest will be charge RM13.365m... U can see the diff was huge RM2.5515m vs RM13.365m = >RM10m....

This is what I mean using "Bank Paper to get Bank Money to make more Money".... Never use your Capital to make money cause it was limited...

This post has been edited by Oldskolboyz: Oct 14 2011, 12:24 PM

I didn't hold any degree. Everything I learn from Old-timer (clue- "Sierra Petroleum") who manage/trade paper USD5 trillion around the world 24hrs... LC it just 1 of payment method with short validity (std 60 days), SBLC (pls refer to Swift Code MT760) also 1 of payment method with longer validity 1 yr + 1 day (same as BG- bank guarantee), mostly trader use it as collateral with bank to apply facility cause our bank did not accept BG from overseas & SBLC can call up in cased default payment.

When U place SBLC at bank, bank officer (Treasury Dept) will convert / trade / place in money market, BNM OPR & etc for 365 days... Bank not only make money on interest charge on U but from OPR, money market & etc.. everyday (365 days) U know. Let say SBLC face value USD80m @ 3% (OPR) = USD2.4m, How much bank can make money for 365 days....

With Genuine Paper, everybody in the chain can make money unless they didn't know how to use it like our Local Bank (AmBank, Affin, PBB, Hong Leoag)... For your knowledge... now Malaysia & Singapore fighting getting green light to set-up Central Control for ASEAN region, it look like BSKL but this only for paper trade... I can said much like ESCROW laa...

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Added on October 14, 2011, 2:32 pmYou are welcome, that why I didn't enter Construction Business & others... Without corruption, we can not compete & die faster. Even thought someone offer me "Lightweight Concrete Technology" to develop here where it can give benefit to poor people (PPR House Project). It was 200% better than sand brick & 50% cheaper in term of development cost, which mean house price can maintain at lower price... But sadly this line involve corruption, so I avoid it...

This post has been edited by Oldskolboyz: Oct 14 2011, 02:59 PM

U can refer here, read collateral requirement..

http://www.standardchartered.com.my/sme-ba...press-trade/en/

others bank are OCBC & HSBC