Apartment Units for Sale!

That would be an ad that we will soon see in Brunei Newspapers, Websites and other real estate ads. I was aware that the strata title was already approved early this year, but I had not hear anything since then. And now I found that there has already been applicants according to an article in Brunei times entitled Only three applications for strata title units received since 2009 | The Brunei Times.

But what even caught my were that these applications have not even been approved since then. It was said in the article that “there were several procedures that needed to be undertaken before approval of a strata title unit.”

I don’t know if you’re thinking what I’m thinking. But here it is, there has only been 3 applications this year and they haven’t been approved since then, what happens when 100 or even 1,000 people apply?!

I hope they sort out the procedures soon before those numbers pile up. But here’s to having Strata Titles, and to owning Apartment Units 🙂 Cheers!

Now I’m thinking how much would I need to own one… Anyone out there give me a price range?

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Luncheon Keynote on CSR by Thomas Thomas

I was lucky to represent for someone at this Luncheon by AsiaIncForum at the Radisson Hotel. The Guest Speaker was named Thomas Thomas. No typo there, the speaker spent a few moments to share his humorous experience regarding to his name, specifically on how his ancestors before him was named the same, and he stopped the tradition on himself from transferring to his son. Thomas Thomas is the Executive Director of Singapore Compact.

CSR or Corporate Social Responsibility according to Thomas is not just a side objective, but it can also be a long term core strategy in any organization. Specifically to fulfill the needs of the Environment, Employees and Economics, or as he puts it the planet, people and profits. He cited several real examples of companies that has practiced CSR at their core strategy and prosper to the present day.

I took pictures of the events and of the Slides which are available on facebook: http://www.facebook.com/album.php?aid=201481&id=550578077&l=4a0f8bea5b

10 Ways to Stop Communication Overload | BNET

10 Ways to Stop Communication Overload | BNET.

I like number 1.

  1. Every meeting – physical or virtual – must have an objective, an agenda, a start time and an end time; everybody who attends every meeting must have a specific and definitive purpose for being there.

It is common to have a meeting simply because it is on the schedule, But even then there should be a purpose to the meeting. At least with that purpose in mind, people would derail less often.

Playing Rut to Riches Board Game

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Recently I was invited to play a Board Game that would teach Financial Intelligence. I have had played Cashflow 101 before and blogged about it, so I was interested to see what else was out there.

I remembered playing the game before, but it was then called SmartMoney, But now it is called Rut to Riches. After the game, I searched for it on the internet, and found www.rut2riches.com. Here is my comparison for this game to Cashflow 101.

  • Cashflow 101 is simpler. I put the complexity of SmartMoney to be between Cashflow 101 and 202.
  • Rut to Riches uses Cashbook accounting, rather then using those play money. Bear in mind some people may actually enjoy holding fake money in hand, but this is just more neat.
  • Rut to Riches takes into account network marketing. I found it strange that Kiyosaki mentioned Network Marketing/MLM/Direct Selling in his books and yet did not include them in his games.
  • Rut to Riches takes into account Royalty in terms of Books and Movies.
  • Rut to Riches uses the Inner Circle as a Fast Track with the use of a Mentor. Cashflow uses The outside lane as the fast track, but the player is no longer affected by good and bad cards, while in the rut to riches, the “retired” player may still be affected.
  • Rut to Riches gameplay is quicker with the fact that “plot twist” cards are taken in bundles. e.g. Share market cards are taken in two’s, and any deal cards is followed by the market forces card.

Overall, I think Rut to Riches is an improvement (albeit probably a copy cat) of Kiyosaki’s Cashflow 101/202. But due to the complexity, I’d recommend Cashflow for beginners. Which probably explains my frustrations with misconceptions that some the “experts” who was supposed to be teaching us had. I was a bit confused by some explanations, but not because I didn’t understand, but it just didn’t made sense, Which I read the rule book available online to be sure, I’ve highlighted the rule or issue, followed by the misconception, followed by my opinion and understanding is the correction:

  • Issue of Savings. Savings was “taken out” our hands to make our cashflow balance zero. When it made more sense that it was taken “In” to our hands as money to be played. This of course what I understood from playing Cashflow.
  • Overdrafts were limited to (current cashflow + potential income) x 8. The “expert” players added a rule about “minus the amount you already borrowed”, when that has been clearly dealt with in putting 10% in the expenses for the amount borrowed.
  • Players may play pay of their liabilities (This one’s annoying). The “expert” players kept on pressing on paying of liabilities, and after at the end explaining about Net Worth = Assets + (cash balance) – Liabilites, and affirming everyone had very small or negative net worth, they stated it was because they didn’t pay off their liabilities. I had a huge net worth, but I didn’t pay those liabilities. Real example is Donald Trump has billions in debt, but billions in net worth. The key is to gain cash producing assets.
  • Directway (in relation to most MLM’s being somethingWay) are mostly not affected by market forces. Ok this maybe more of strategy then just a rule. I noticed the “expert” player was mostly targeting to get the DirectWay Cards. These guys didn’t even get out of the Rut! I’m thinking because these “experts” are mostly into Network Marketing that they played into their beliefs. But if they read Kiyosaki’s Books carefully, he basically states that the key to riches is multiple streams of income. A balance of Stocks, Real Estate and Business, not just Network Marketing. But Network marketing is probably the best for hard workers, socialites and risk averse individuals.

Overall, it was a fun game (considering I was the only one in my table that got out of the rut), and when I get the chance I would like to have a discussion with the “expert” players on my findings from reading the rule book. Last time I had to hurry to get to another function that day. Oh for more information on the playing board game, contact the people from www.yesinvMS.com

LiveWIRE Business Awards 2010-2011

The LiveWIRE Business Awards was launched last Tuesday, on 9th November 2010. I have personally joined this competition a few times since 2003. It had allowed myself to realize my entrepreneurial desires, which started me in creating business plans and learning about how most business operate.

The categories for this competition are:

Category A – Business Plan (Just the Plan, not necessary you have or want to start a business, but its a good start)

  • A1 – Upper secondary and Form 6
  • A2 Post Secondary and Higher Institutions
  • A3 – LiveWIRE participants and open category

Category B – Enterprise (existing businesses)

  • B1 – LiveWIRE Business Network Awards (Biz that has started at least for 6 months)
  • B2 – LiveWIRE SME Awards (over 3 years in business)

The categories have been condensed from the previous years, that means that there is more competition for  a single category, on the other hand the prize money has been increased.

The Business Awards is probably the most well known of activities that is held by LiveWIRE Brunei. Other Activities are:

  • Bright Ideas (BI) – A 2 day Introductory Course in Entrepreneurship and the Right Mindset
  • Be A Successful Owner and Manager (BSOM) – a 4 day course which showcases Local Entrepreneurs to share their experience and knowledge.
  • Business Plan Series – A workshop to help participants in creating a business plan
  • Leadership Camp – A 3 day Camp that focuses on self-development, transformation and Leadership.

Links to Local News:

Market Segmentation Leads to Product Divergence

Basically there IS no perfect PRODUCT, there ARE only perfect PRODUCTS.
Malcolm Gladwell shares the story of Howard Moskowitz on how he discovered the idea of perfect products depend on the market segmentation. The reason why we have a variety of a single product, 3 types of spaghetti sauce, several types of nescafe and so on.