Kyspeaks.com

Malaysian Food Blog, Travel, Diving & More

Monthly Archives / December 2016

When I first started penning this blog, I was a fairly recent graduate with just a few years of working experience. Living in KL, I constantly worried about reducing my credit card debt (stemming from furnishing the house I had just bought) while keeping up with the burden of mortgage payment at the same time.

That is when I got to know “my enemy who is also my friend” – compound interest.

See, if you owe the lender 10 bucks (RM10) and are charged an interest rate of 10% per annum, that 10 bucks will become 30 bucks by the end of 20 years for interest without compound + principal. But with a compound interest of just 10%, you would be looking at coughing up RM73! Incidentally, did you know that banks in Malaysia are permitted to charge daily compounding tiered interest when you miss your credit card payments?

http://www.bnm.gov.my/index.php?ch=en_press&pg=en_press&ac=696&lang=en

Compound interest though, is not always your enemy.

On the other side of the coin, let us look at how compound interest becomes our best friend for investing.

You see, the formula works exactly the same way.

Invest RM10 today with an interest of 10% (which some unit trusts may potentially fetch), by the end of 20 years that same RM10 will be RM72. Or less optimistically, at 7% it’ll be RM40. This is after considering the fact that you’re not adding anything extra to the initial investment.

For this reason, compound interest has often been touted as the eighth wonder of the world when applied to money and investing. Compound interest can help us achieve our financial goals, such as being able to retire comfortably, becoming financially independent, or even achieving millionaire status.

My investment portfolio is still in its infancy, with some unit trusts bought via my EPF Account 2 thus far. However, as I look forward to growing my savings and investments to be better prepared for the future, I’ve now got my eye on several other unit trusts and private retirement schemes. The good news is I am still young and have plenty of time left to invest and take advantage of my friend (compound interest)!

Have you started taking advantage of your friend?

To learn more about the magic of compounding interest and how it can produce the right results for your investments, check out InvestSmart, an investor empowerment initiative by the Securities Commission Malaysia (SC). In addition to providing you with knowledge, information and education, InvestSmart also organises stock market and unit trust seminars for retail investors. The seminars aim to encourage members of the public to take control of their finances so that they can be responsible for their own future and wealth, to equip investors with the knowledge, skills and tools needed to exercise good judgement and discretion in making investment decisions, and to encourage more informed retail participation in the capital market. To find out more, log on to:

www.investsmartsc.my

Congratulations to Nico Rosberg, who was recently crowned as the 2016 Formula One champion, a title well earned after battling with teammates and closest rival Lewis Hamilton for so many years.

KY & Nico Rosberg, 2013
KY & Nico Rosberg, 2013

Nico also promptly announced his retirement, which came as a complete surprise to most everyone, but ultimately it was a decision that few can make, to go out on the top and to put his family first an foremost in his mind. The first father & son champion.

I was very lucky to be part of an event back in 2013 where Nico & Lewis raced in a small strip of road at Putrajaya on a couple Mercedes A250 cars. When a seat opened, I jumped in and had a time of my life with Nico as our driver racing with Hamilton. I’ll forever cherish that special moment being in a car driven by an eventual Formula One champion.

Nico in a Mercedes A250
Nico in a Mercedes A250

The photos and video were kept as a draft that was never published of this blog due to various reasons, but I thought it’s the perfect time to do so. After all, this is my place on the internet where I keep significant memories.

I love myself a good afternoon snack, and when it comes to that, sometimes the options can be quite limited. There’s always the rojak, hipster cafe, and mamak, but if you want good old fashion Chinese snacks, well, they aren’t just as common. So it was quite refreshing to see that a such a place sprung up at Seapark recently by the name of Restoran Yuen Ting.

Restoran Yuen Ting, PJ Seapark
Restoran Yuen Ting, PJ Seapark

Yuen Ting is a bit of a throw back when it comes to a new restaurant, they offer old fashion deep fried Chinese pastry such as yutiao, ham chim peng, and a couple different soya bean products like soya bean drink and tofufar.

a selection of deep fried goodness & soya bean products
a selection of deep fried goodness & soya bean products

While the selection isn’t particularly extensive, the quality of product and value offered was more than decent. I liked that the soya bean drink has a bit of a gingery tint in the syrup supplied, which gives it a bit of extra complexity.

The taufoofar here is has a really smooth texture, a hallmark of any good taufoofar. Like the soya bean drinks, you can choose to have it with dark or normal sugar syrup, I almost always go for the dark version and did not make it an exception this time.

ham chim peng, soya drink, tofufar
ham chim peng, soya drink, tofufar

Overall, I’d not hesitant to return for a good & comfortable afternoon snack. While there’s no air conditioning, fancy decoration, or even IKEA sofa, this place hold its own among the newer establishments in PJ, and it is one that I believe will stand up to the test of time better than others.

map to Yuen Ting Seapark

Address:
Yuen Ting Restaurant
Jalan 21/17,
Seapark,
46300 Petaling Jaya, Selangor

GPS3.109909, 101.621816