My sister, Michelle-Ann Iking's 3% chance of conceiving naturally was a success! Here's her story:
(My apologies as I've been overwhelmed with personal matters. I've only managed to get to my desk. So finally got around posting this).
This is the story behind my sister's pregnancy struggle and how she shared her journey over her Facebook page.
Because some may have not caught her LIVE session chat with me (https://www.facebook.com/daphneiking/videos/687743128744960/) , or read her lengthy post (as it's a private page);
she's allowed me to copy and paste it over my wall, in case you need to know more about her thought process on how AND why she focused on the 3% success probability. Read on.
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Posted 10th May 2020.
FB Credit: Michelle-Ann Iking
A week ago today I celebrated becoming a mother to our second, long awaited child.
Please forgive this mother's LONG (self-indulgent) post, journalling what this significant milestone has meant for her personally, for her own fallible memory's sake as well as maybe to share one day with her son.
If all you were wondering was whether I had delivered and if mum and bub are OK, please be assured the whole KkLM family are thriving tremendously, and continue scrolling right along your Newsfeed 😁.
OUR 3% MIRACLE
All babies are miracles... and none more so than our precious Kiaen Aaryan (pronounced KEY-n AR-yen), whose name derives from Sanskrit origins meaning:
Grace of God
Spiritual
Kind
Benevolent
...words espousing the gratitude Kishore and I feel for Kiaen's arrival as our "3% miracle".
He was conceived, naturally, after 3 years of Kishore and I hoping, praying and 'endeavoring'... and only couples for whom the objective switches from pure recreation to (elusive) procreation will understand how this is less fun than it sounds ...
3 years during which time we had consensus from 3 different doctors that we, particularly I (with my advancing age etc etc) had only a 3% chance of natural conception and that our best hope for a sibling for our firstborn, Lara Anoushka, was via IVF.
Lara herself was an 'intervention baby', being one of the 20% of babies successfully conceived through the less intrusive IUI process, after a year and a half of trying naturally and already being told then my age was a debilitating factor.
We had tried another round of IUI for her sibling in 2017 when Lara was a year old. And that time we fell into the ranks of the 80% of would-be parents for whom it would be an exercise in futility... who would go home, comfort each other as best they could, while individually masking their own personal disappointment... hoping for the best, 'the next time around'...
So the improbability ratio of 97% against natural conception of our second baby, as concurred by the combined opinion of 3 medical professionals, was a very real, very daunting figure for us to have to mentally deal with.
Deep, DEEP, down in my heart however, though I had many a day of doubt... I kept a core kernel of faith that somehow, I would again experience the privilege of pregnancy, and again, have a chance at childbirth.
And so, the optimist in me would tell myself, "Well, there have to be people who fall in the 3% bucket... why shouldn't WE be part of the 3%?"
Those who know me well, understand my belief in the Law of Attraction, the philosophy of focusing your mind only on what you want to attract, not on what you don't want, and so even as Kishore and I prepared to go into significant personal debt to attempt IVF in the 2nd half of 2019, I marshalled a last ditch effort to hone in on that 3% chance of natural conception... through research coming across fertility supplements that I ordered from the US and sent to a friend in Singapore to redirect to me because the supplier would not deliver to Malaysia.
I made us as a couple take the supplements in the 3 month 'priming period' in the lead up to the IVF procedure - preconditioning our bodies for optimum results, if you will.
At the same time, I had invested in a sophisticated fertility monitor, with probes and digital sensors for daily tracking of saliva and other unmentionable fluid samples, designed to pinpoint with chemical accuracy my state of fertility on any given day.
(UPDATE: For those interested - I obtained the supplements and Ovacue Fertility Monitor from https://www.fairhavenhealth.com/. Though I had my supplies delivered to a friend in Singapore, and redirected to me here since the US site does not deliver to Malaysia, there are local distributors for these products, you will just have to research the trustworthiness of the vendors yourself...)
I had set an intention - in the 3 months of pre-IVF priming, I would consume what seemed like a pharmacy's worth of supplements, and track fertility religiously... in hopes that somehow, within the 3 month priming period, we would conceive naturally and potentially save ourselves a down payment on a new property... and this was just a projection on financial costs of IVF, not even considering the physical, emotional and mental toll it involves, with no guarantee of a baby at the end of it all...
It was a continuation of an intention embedded even with my first pregnancy, where all the big ticket baby items were consciously purchased for use by a future sibling, in gender neutral colours, in hopes that sibling would be a brother "for a balanced pair", though of course any healthy child would be a welcome blessing.
It was a very conscious determination to always skew my thoughts in service of what the end objective was. For example, when 3+year old Lara would innocently express impatience at not yet having a sibling, at one point suggesting that since we were "taking too long to give her a baby brother/sister", perhaps we should just "go buy a baby from a shop", instead of getting defensive or berating the baby that she herself was, we enlisted Lara's help to pray for her sibling... so in any place of worship, or sacred ground of any kind that we passed thereon, Lara would stop, close her eyes, bow her small head and place her tiny hands together in prayer, reciting earnestly, "Please God, please give me a baby brother or baby sister."
After months and months of watching Lara do this, in the constancy of her childlike chant, Kishore started feeling the pressure of possibly disappointing Lara if her prayer was not answered. Whereas for me, Lara's recitation of her simple wish became like a strengthening mantra, our collective intention imbued with greater power with each repetition, and the goal of a sibling kept very much in the forefront of our minds (hence our calling Lara our 'project manager' in this endeavour).
And somehow in the 2nd month of that 3 month period, a positive + sign appeared on one of the home pregnancy tests I had grown accustomed to taking - my version of the lottery tickets others keep buying in hopes of hitting the jackpot, with all the cyclical anticipation and more often than not, disappointment, that entails...
This time however I was not disappointed.
With God's Grace, (hence 'Kiaen', a variation of 'Kiaan' which means 'Grace of God'), my focus on our joining the ranks of the 3% had materialised.
It seems poetic then, that Kiaen chose to make his appearance on the 3rd May, ironically the same date that his paternal great-grandfather departed this world for the next... such that in the combined words of Kishore and his father Kai Vello Suppiah,
"The 1st generation Suppiah left on 3rd May and the 4th generation Suppiah arrived on 3rd May after 41yrs...
One leaves, another comes, the legacy lives on..."
***
KIAEN AARYAN SUPPIAH'S BIRTH STORY
On Sunday 3rd May, I was 40 weeks and 5 days pregnant.
The baby was, in my mind, very UN-fashionably late past his due date of 29th April, so as much as I had willed and 'manifested' the privilege of pregnancy, to say I was keen to be done with it all was an understatement.
In the weeks leading to up to my full term, I had experienced increasingly intense Braxton-Hicks 'practice contractions' - annoying for me for the discomfort involved, stressful for Kishore who was on tenterhooks with the false alarms, on constant alert for when we would actually need to leave home for the hospital.
Having become a Hypnobirthing student and advocate from my first pregnancy with Lara, and thus being equipped with
(1) a lack of fear about childbirth in general and
(2) a basic understanding of how all the sensations I would experience fit into the big picture of my body bringing our baby closer to us,
I was less stressed - content to wait for the baby to be "fully cooked" and come out whenever he was ready... though I wouldn't have minded at all if the cooking time ended sooner, rather than later.
With Lara, I had been somewhat 'forced' into an induced labour, even though she was not yet due, and that had resulted in a 5 DAY LABOUR, a Birth Story for another post, so I was not inclined to chemically induce labour, even though I was assured that for second time mothers, it would be 'much faster and easier'...
That morning, I had a hunch *maybe* that day was the day, because in contrast to previous weeks' sensations of tightening, pressure and even spasms that were concentrated in the front of my abdomen and occasionally shot through my sides and legs, I felt period - like cramping in my lower back which I had not felt before throughout the pregnancy.
It was about 8am in the morning then, and my 'surges' were still relatively mild ('surges' being Hypnobirthing - speak for 'contractions', designed to frame them with the more positive connotations needed to counteract common language in which childbirth is presented as something that is unequivocally painful and traumatic, instead of the miraculous, powerful and natural phenomenon it actually is).
I recall (masochistically?) entertaining the thought of opting NOT to have an epidural JUST TO SEE WHAT IT WOULD BE LIKE...
I figured this would be the last time I would be pregnant and so it would be my 'last chance' to experience 'drug free labour' which, apart from the health benefits for baby and mother, might be *interesting* in a way that people who are curious about what getting a tattoo and skydiving and bungee jumping are like, might find these *interesting*...even knowing there will be pain and risk involved...
Since I have tried tattoos and skydiving (unfortunately not being able to squeeze in bungee-jumping while my life was purely my own to risk at no dependents' possible detriment) a similar curiousity about a no-epidural labour was on my mind...
In the absence of other signs of the onset of labour (like 'bloody show' or my waters breaking), I wanted to wait until the surges were coming every few minutes before we actually left the house for the hospital, not wanting to be one of those couples who rushed in too early and had interminable waits for the next stage in unfamiliar, clinical surroundings and/or were made to go home in an anti-climatic manner.
I was even calm enough through my surges to have the presence of mind to wash and blowdry my hair, knowing if I did deliver soon I would not be allowed this luxury for a while.
Around 9am I asked Kishore to prep for Lara and himself to be dressed and breakfasted so we could head to hospital soon, while I sent messages to family members on both sides informing them 'today might be the day.'
My mother, who had briefly served as a midwife before going back into general nursing and then becoming a nursing tutor, prophetically stated that if what I was experiencing was true labour, "the baby would be out by noon".
The pace in which my surges grew closer together was surprisingly quicker than I expected; and while I asked Lara to "Hurry up with breakfast" with only a tad more urgency than we normally tell her to do, little Missy being prone to dilly-dallying at meals, I probably freaked Kishore out when about 930am onwards, I had to instinctively get on my hands and knees a couple of times, eyes closed, trying to practice the Hypnobirthing breathing techniques I had revised to help along the process of my body birthing our child into the world.
I recall him saying a bit frantically as I knelt at our front door, doubled over as he waited for Lara to complete something or other, "Lara hurry up! Can't you see Mama is in so much pain and you are taking your own sweet time??!!"
SIDETRACK: Just the night before, Lara and I had watched a TV show in which a woman gave birth with the usual histrionics accompanying pop culture depictions of labour.
Lara watched the scene, transfixed.
I told her, simply and matter-of-factly, "That's what Mama has to do to get baby brother out Lara, and that's what I had to do for you also."
In most of interactions with my daughter, I have sought to equip her to face life's situations with calmness, truthful common sense, and ideally a minimum of drama.
Those who know the dramatic diva that Lara can be will know that this is a work-in-progress, but her response to me that night showed me some of my 'teachings' were sinking in:
She looked at me unfazed, "But Mama," she said. "You won't cry and scream like that lady, right? You will be BRAVE and stay calm, right?"
#nopressure.
So as we prepped to leave for the hospital I did indeed attempt to be that role model of calm for her, asking her only for her help in keeping very quiet,
"Because Mama needs to focus on bringing baby brother out and she needs quiet to concentrate...".
As we left the house at 10.11am, I texted Kishore's sister Geetha to please prep to pick up Lara from the hospital, and was grateful Kishore had the foresight to ask our gynae to prepare a letter for Geetha to show any police roadblocks between my in-laws' home in Subang Jaya and the hospital in Bangsar, this all happening under the Movement Control Order (MCO).
To Lara's credit, in the journey over to the hospital, she - probably sensing the gravity of the situation, sat very quietly in her seat at the back, and the silence was punctuated only by my occasional deep intakes of breath and some variation of my Ohmmm-like moans when the sensations were at their height.
By the time we got to Pantai Hospital at around 10.30am, my surges were strong enough I requested a wheelchair to assist me in getting to the labour ward, as I did not trust my own legs to support me... and Kishore would have to wait until Geetha had arrived to take Lara back to my in-laws' house before he himself could go up.
I slumped in the wheelchair and was wheeled up to the labour room with my eyes closed the whole time, trying to handle my surges.
I didn't even look up to see the attendant who pushed me... but did make the effort to thank him sincerely when he handed me over, with what seemed like a palpable sense of relief on his part, to the labour ward nurses.
The nurse attending me at Pantai was calm, steady and efficient. I answered some questions and changed into my labour gown while waiting for Kishore to come up, all the while managing the increasingly intense surges with my rusty Hypnobirthing breathing techniques.
By the time Kishore joined me at around 11am (I know these timings based on the timestamps of the 'WhatsApp live feed' of messages Kishore sent to his family), I was asking the nurse on duty, "How soon can I get an epidural??" thinking what crazy woman thought she could do this without drugs???!!!
The nurse checked my cervix dilation, I saw her bloodied glove indicating my mucous plug had dislodged, and she told me, "Well you are already at 7cm (which, for the uninitiated, is 70% of the way to the 10cm dilation needed for birthing), you are really doing well, if you made it this far without any drugs, if can you try and manage without it... I suspect within 2 hours or less you will deliver your baby and since it will take about that time for the anaesthesiologist to be called, epidural to be administered and kick in... it might all be for nothing... but of course the decision is completely up to you... "
So there I was, super torn, should I risk the sensations becoming worse... or risk the epidural becoming a waste?? And of course I was trying to decide this as my labour surges were coming at me stronger and stronger...
I was in such a dilemma...because as a 'recovering approval junkie' there was also a silly element of approval-seeking involved, ("The nurse thinks I can do this without drugs... maybe I CAN do this without drugs... Yay me!") mixed with that element of curiosity I mentioned earlier ("What if I actually CAN do this without drugs... plenty of other women have done it all over the world since time immemorial.. no big deal, how bad can it be...??") so then I thought I would use the financial aspect to be the 'tiebreaker' in my decision making...
I asked the nurse how much an epidural would cost and when she replied "Around MYR1.5k", I still remember Kishore's incredulous face as I asked the question, i.e."Seriously babe, you are gonna think about money right now? If you need the epidural TAKE IT, don't worry about the money!!!"... and while we are not rich by any stretch of the imagination, thankfully RM1.5k is not a quantum that made me swing towards a decision to "better save the money"...
So in the end, I guess my curiosity won out, and I turned down the epidural "just to see what it would be like and if I had it in me" (in addition of course to avoiding the side effects of any drugs introduced into my and the baby's body).
My labour occuring in the time of coronavirus, it was protocol for me to have a COVID19 test done, so the medical staff could apply the necessary precautions. I had heard from a friend Sharon Ruba that the test procedure was uncomfortable, so when the nurse came with the test kit as I was starting another surge, I asked, "Please can I just finish this surge before I do the test?" as I really didn't think I could multitask tackling multiple uncomfortable sensations in one go.
The COVID19 test involved what felt like a looong, skinny cotton bud being inserted into one nostril... I definitely felt more than a tickle as it went in and up, being told to take deep breaths by the nurse. Then she asked me to "Try to swallow" and I felt it go into my nasal cavities where I didn't think anything could go any further, but was proven wrong when she asked me to swallow again and the swab was probed even deeper. Then she warned me there would be some slight discomfort as she prepared to collect a sample... but at that point all I could think about was:
(i) I really don't have much of a choice
(ii) please let this be over before my next surge kicks in
(iii) if all the people breaking the MCO rules knew what it feels like to do this test maybe they won't put themselves at risk of the need to perform one...
In full disclosure as I was transferred into the actual delivery room at some point after 11am, another nurse offered me 'laughing gas' to ostensibly take some of the edge off... I took the self-operated breathing nozzle passed to me but don't recall it making any difference to my sensations..so didn't use it much as it seemed pretty pointless.
I recall some measure of relief when I heard my gynae Dr. Paul entering the room, greeting Kishore and me, and telling us it was going well and it wouldn't be long now and he would see us again shortly.
From my previous labour with Lara I knew the midwives pretty much take you 90% of the way through the labour and when the Dr is called in you are really at the home stretch, so was very relieved to hear his voice though knowing he would leave and come back later meant it wasn't quite over yet.
I do remember realising when I had crossed the Thinning and Opening Phase of labour to the Birthing Phase, by the change in sensations... it is still amazing to me that as the Hypnobirthing book mentioned, having this knowledge I was instinctively able to switch breathing techniques for the next stage of labour .
Was my opting against epidural the right choice for me?
Overall? Yes.
Don't get me wrong.
I *almost* regretted the decision several times during active labour... especially when I felt my body being taken over by an overwhelming compulsion to push that did not seem conscious and was accompanied by involuntary gutteral moans where I literally just thought to myself, "I surrender, God do with me what you will..." (super dramatic I know but VERY real at the time...).
I think I experienced 3-4 such natural explusive reflexes (?), rhythmically pushing the baby down the birth path, one of which was accompanied by what felt like a swoosh of water coming out of a hose with a diameter the size of a golf ball... this was when I realised my water had finally broken...
The nurses kept instructing me to do different things, to keep breathing, to move to my side, then to move to the middle, to raise my feet... and when I didn't comply, Kishore (who was with me throughout both my labours) tried to help them by repeating the instructions prefaced with "Sayang..." but I basically ignored all the intructions because I felt I had no capacity to direct any part of my body to do anything and someone else would have to physically manoeuvre that body part themselves.
When I heard Dr. Paul's voice again and the flurry of commotion surrounding his presence, I knew the time was close... and when I heard the nurse say to Kishore, "Sir, these are your gloves, for when you cut the baby's cord", it was music to my ears...
I'm very, VERY grateful Kiaen slid out after maybe the 4th of those involuntary pushes... the wave of RELIEF when he came out so quickly... it still boggles my mind that my mother was essentially right and as his birth time was 12.02pm, it was *only* about 1.5 hours between our arrival at the hospital and his arrival into the world.
Kiaen was placed on my chest for skin to skin bonding and remained there for a considerable time.
For our short stay in the hospital he would be with us in my maternity ward number C327... another trivially serendipitous sign for me because he was born on the 3rd (May) and our wedding anniversary is 27th (July).
I was discharged the following day 4th May at about 5.30pm, after I got an all clear on COVID19 and a paediatric surgeon did a small procedure on Kiaen to address a tongue-tie that would affect his breastfeeding latch... making the entire duration of our stay about 31 hours.
I have taken the time and effort to record all this down so that whenever life's challenges threaten to get me down I can remind myself, "Ignore the 97% failure probability, focus on the 3% success probability".
Also that the human condition is miraculous and it is such a privilege to experience it.
To our son Kiaen Aaryan, thank you for coming into our lives and choosing us as your parents.
Even though Papa and I are both zombies trying to settle into a night time feeding routine with you, I look forward to spending not only all future Mother's Days, but every day, with you and your Akka...
And last but not least, to my husband Kishore...without whom none of this would be possible - we did it sayang, I love you ❤️
Photo credit: Stayhome session with Samantha Yong Photography (http://samanthayong.com/)
lower debt ratio 在 Andy Yeung BAFS Facebook 的精選貼文
【AY Paper 2A Financial Accounting All-in-one 2017】
AY remarks:
1. Paper 2A不需順次序做,先在section A選一條最得心應手的題目,好的開局是今日重中之中!
2. 今期為何物:月、季、年大不同。
3. 《抄數》:C.A.P. Approach!
4. 抄數時應用Double entries 複式記帳思維
5. Ratio 溫熟未啊唔會俾個表你對架!邊D 「NP before I & T」、邊D「NP after tax」?用「平均數」定「期末數?」親生仔養仔外人?
6. 做T Account 轉問Journal entries (日記分錄) 唔駛驚!將T Account做working,推番個Flow出黎!
7. Capital Employed (運用資本) :Partnership係乜?「Capital(資本) + current(往本帳)」only!
8. 小心Trial Balance就算表的類別:「unadjusted未調整」 vs「post-closing結帳後」TB
9. 成舊錢走!
10. 「FULL-year depreciation全年折舊」要小心假設!買個年點計,賣個年唔駛計?
11. 相反,「Pro rata」按月計!
12. 小心usage-based depreciation使用量折舊!小心比較不同Depn方法對Net Profit的影響
13. 「fully depreciated? 完全折舊?」(ref 2012 DSE)
14. Bank reconciliation statement (銀行往來調節表) 三大題型!小心題目要求!先睇Required part「commencing with邊度先!」
15. BRS夾年頭!CB vs BS opening balance可能已經唔同!小心!
16. Three-column cash book「三欄現金簿」?
17. 小心開cheque日子: 「unpresented 未兌現」vs「Stale 過期支票」vs「Post-dated 遠期支票 」
18.COE Logic: 1. FOBO公司型態 2. Flow of Income and expense(收入及費用的流向)-Accounting Cycle:「Nominal account 虛帳户」「Profit and loss 損益帳」「Retained profit 留存利潤」
19. TB 見到「Retained profit 留存利潤」要睇期頭定期尾 =.=
20.Partnership Appropriation 分撥帳小心 x COE考!小心SORB!小心lower of C&NRV!
21. 重覆:T Account 內只有Account 名!唔該唔好自創新Account =.=
22. 例如realization expense (變產費用)會唔會出現響Realization account (變產帳)度啊=.=
23. 小心文字題:Change in Partnership:入、走、ratio變
24. Goodwill 商譽adjustment:唔一定要close Goodwill 架!小心今年考open goodwill!
25. withdrawal of partners合夥人退出:「Current Capital」,「Capital埋單」
26. (重覆pt 6) Revaluation 重估及 Goodwill adjustment 商譽調整的journal entries日記分錄
27. Realization變產帳:睇身份:「老闆」vs「外人」vs「債主」
28. AFDD(呆帳準備) :specific allowance(特定準備) vs general allowance一段準備 (aging schedule帳齡分析表)
29. Bad debt壞帳vs AFDD文字題
30. .Bad debt recovered壞帳收回(都幾耐無考過)
31. BOOE(原始分錄簿) :1A($Cash Book 現金簿)1B(X$+貨) 四本貨J1C(general jounal普通日記簿)
32. Cash accounting現金制會計vs Accrual Accounting應計制會計
33. 開Income Account收入帳:Arrears應收vs Advanced預收
34. 開Expense Account費用帳:Accrued應付vs prepaid預付
35: 六大Errors Not Affecting Trial Balance Agreement 不影響試算表平衡的錯誤
36: Issue of Shares and Debentures發行股份及債券 journal entries日記分錄
37 journal entries日記分錄係咪要narration分錄說明先?
38.Reserves vs. provisions 儲備與準備
39. Financial Analysis(Ratio)財務報表分析(比率) :快D睇下ratio表
40. Incomplete Records不完整會計記錄:怒開workings,抄數技,Bank statement信唔過
41.Generally Accepted Accounting Principles公認會計原則:記哂未?
42. 最後,小心至上!Gook Luck Bro & Sis!
43. 我要目訓喇
44. 上陣,我們引以為傲!
45. BAFS,你的主科!
by Andy (26/4/2017 凌晨5:12am)
lower debt ratio 在 Mohd Asri Facebook 的最佳解答
BUDGET 2014 : WISH LIST, EXPECTATION & STOCKS PLAY- by Dr. Nazri Khan.
As in the past, we generally expect a post-budget rally with FBMKLCI to trend towards 1850 levels after Budget 2014. We expect budget measures to arrest competitiveness and improve public finance to attract more investors confidence and foreign fund inflows back to Malaysia.
1. Generally, Budget 2014 should spur local market sentiment by introducing tough unpopular bold measures to boost trade competitiveness, improve fiscal credibility, address the recent downgrade by sovereign credit rating (such as Fitch Ratings) and encouraging stronger private sector participation to boost economic growth.
2. We expect Budget 2014 to focus on the implementation of subsidy rationalization programme (SRP), the implementation of services tax (GST) and extension of BR1M for the low income group.
3. Generally, investors do not believe there will be significant Corporate and Personal Income Taxes cut due to government fiscal constraint but more incentives will be given to lower income groups using a very focus and targeted approach.
4. As in the past, Budget 2014 should benefit construction sectors (especially those with low import content and high multiplier project owner). Higher multiplier such as MRT circle line 2 and 3, Southern Double Tracking and even the proposed Kuching-KK Pan Borneo Highway may kick-start but big ticket high import items like Kuala Lumpur-Singapore High Speed Rail and third interchange linking Johor and Singapore could be delayed.
5. As stated in General Election manifesto, there is a real possibility, Budget 2014 may launch National Healthcare Project (something like Australia's Medicare System and UK NHS) that will provide every Malaysian with access to quality healthcare. Healthcare stocks such as IHH, KPJ and TMC Life should benefit. Further, using Budget 2013 trend, Budget 2014 should again promote local tourism sector which means healthcare sector via medical tourism again will benefit.
6. The implementation of GST should benefit software providers. Stocks like DKSH, Censof and MyEG should win contracts while telcos that have been paying govt sales tax can now shift the tax burden to customers under GST. Hence, all three telcos Maxis, Axiata and DiGi will benefit.
7. Mass market consumer stocks (such as AEON and Parkson) however should benefit from government low income incentives such as higher BR1M, higher salary to qualify for BR1M (maybe raise to RM4000-RM5000 from currently RM3000), more KR1M (Kedai Rakyat 1 Malaysia) and cheaper house from affordable PR1MA homes.
8. Budget 2014 may grant more tax exemptions for hybrid and electric cars to encourage the usage of fuel efficient vehicles. This should benefit foreign hybrid cars markers such as Honda, Volskwagen, Toyota and Nissan.
9. Due to government focus on Islamic Finance, Takaful industry players should get more added incentives in 2014 to encourage bigger market share and more protection among Malaysian. Stocks going big into Takaful such as Takaful Malaysia, Allianz and MAA may benefit.
10. Due to Subsidy Rationalisation Programme (SRP), Budget 2014 should see more subsidy cuts which includes more increase in fuel prices (possibly additional 10 to 20 cents), more increase in gas & electricty power tariff as well as hikes in sugar prices. Such moves should generally be negative for consumer/glove stocks (retailers like Nestle, Amway and Dutchlady & gloves such as Hartalega, Kossan, Supermax who use gas and raw materials) while positive for utilities stocks such as Tenaga, YTLPower and GasMsia (due to lower inputs, more efficient energy consumption and better earning visibility).
11. Budget 2014 should impose higher sin tax to boost government revenue. Tobacco players such as BAT and JT International and possibly brewery such as Carlsberg and Guinness and even gaming players such as Genting and BJToto earning are expected to contract. Bear in mind, there is no tax hike for gaming counters since 1998, no take hike for brewery since 2007 and no take hike for cigarettes since 2010. Perhaps, there will be 3 cents extra tax per cigarrete stick and RM1.00 extra duties per litre of beer.
12. For Budget 2014, we believe banks and properties could be mildly affected by more government properties-cool-down and bad-debt-measures (involving house, property, automotive and personal loans). Softer retail/corporate loans are therefore expected due to higher stamp duty, foreign cap, tougher RPGT (real properties gains tax) and higher loan-to-value (LTV) ratio for property purchases and shorter the personal financing tenure.
13. Government will strive for Marhaen Budget (Rakyat) which generally should aims for :
(i) Close To Free Education - free high quality education for all citizens
(ii) Close To Free Healthcare - affordable and easy accessible quality medical care to all, rich
and poor alike
(iii) Affordable Housing - cheaper and comfortable for majority rakyat
(iv) Efficient Public transport - safer, cheaper, more efficient, reliable and comfortable for majority rakyat
(v) Security for citizens and their families with an accepted (perceived or otherwise) low crime rate.
14. Government will use creative ways to boost revenue without burdening rakyat. These may includes :
(i) Reduce foreign tax incentives - Remove tax incentives to foreign firms operating in this country which has low multiplier effect on economy (beverage, gaming & brewery).
(ii) Auction land - Government land should be auctioned to the highest bidder to gain maximum income in development of Government’s land
(iii) Auction licences - Licences for telco and television rights can also be auctioned to the highest bidder after a shorter fixed period to get more revenue
(iv) Sell concessions - government must not give companies (whether GLC or not) rights to operate a project (eg. power plant/highways for free)
(v) Curb smuggling - government should spend more on enforcement to reduce money lost on smuggled items especially on cigarettes, beers, petrol and rice
(vi) Cut procurement bureaucracy and costs - the Government must spend more to reduce bureaucratic tape especially in procurement so that higher saving can be made on resources and time awarding the contract
(vii) Reduce subsidising the rich corporate player - the government should overhaul and reduce subsidies for rich companies such as foreign automatives and IPP which benefit more than the rakyat
(vii) Impose tax on high end asset class - capital gains tax should be imposed more on high end income eg. gains from investments, property, antique asset sales, bond and stock markets.
15. Last but not least, oil and gas stocks should get positive catalyst. Due to depleting oil reserves, we expect government to encourage more participation in the downstream O&G industry which may include huge investment tax allowance for refinery activities to catalyse the downstream segment. This will also attract investors to participate in Pengerang Integrated Petroleum Complex to ensure its successful take-off. Petronas linked stocks such as Petronas Chemicals, Sapura Kencana, Uzma, Deleum, Perisai and others should benefit.