Dividend Magic

Saving and Investing towards Financial Independence in Malaysia

Leigh

Cilantro Restaurant & Wine Bar @ Micasa Hotel KL

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Filed Under: Travel, food and the finer things in life 4

Cilantro Restaurant & Wine Bar

How to Get There – Address

Cilantro Restaurant & Wine Bar, MiCasa All Suite Hotel, 368-B, Jalan Tun Razak, 50400 Kuala Lumpur, Malaysia.

Contact

Phone:  03-2179 8082
Lunch: Friday only (12 pm-2 pm)
Dinner: Monday-Saturday (6 pm-10.30 pm)
Closed on Sundays

This is a long-overdue post. I celebrated a birthday lunch at Cilantro Restaurant & Wine Bar on 7 April 2017. A Friday.

They only serve lunch on Fridays at RM200 nett per person. Their dinner set menu costs RM428 per person for a 3-course meal. A 4-course meal will set you back RM518 per person. My last splurge on a meal was at Vasco’s at Hilton KL back in February. So to minimize the damage, I naturally opted for the lunch set.

Cilantro Restaurant
Cilantro Restaurant
Cilantro Restaurant – The Setting
IMG_5927

Cilantro Restaurant – Menu by Chef Takashi Kimura

Cilantro Restaurant – The Food

The food was up to par for the price we paid. One thing that fell short was the Grilled Japanese Seabream fillet. We had a choice of fish or Wagyu beef. For future reference, when in doubt, please just go for the Wagyu.

Capellini and Provence Asparagus with Wild Garlic Leaves

Capellini and Provence Asparagus with Wild Garlic Leaves

Hokkaido Scallop with Soramame and Jus

Hokkaido Scallop with Soramame and Jus

Grilled Japanese Sea Bream Fillet with Hotaruika

Grilled Japanese Sea Bream Fillet with Hotaruika

Wagyu A La Plancha with Mushroom Bordelaise

Wagyu A La Plancha with Mushroom Bordelaise

Wagyu A La Plancha - 2

Wagyu A La Plancha with Mushroom Bordelaise 

IMG_5965

Pina Colada

IMG_5970

Some Fancy Named Tea

20170513_222906

End.

Please do give this place a try. It’ll be suitable to have luncheons and talk business here. They spice up and vary their menus often. The food was excellent (except for the fish). The service was excellent. The restaurant had a good overall vibe about it and we truly had a good time there.

Photography improving? Do let me know of your experience if you’ve been there for dinner! I’m really tempted, but the price… Anyway, back to refocusing on the Freedom Fund!

All my Food Reviews

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Maybank DRP (Dividend Reinvestment Plan)

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Filed Under: Dividends, Companies in the News, Investment, Travel, food and the finer things in life 10

UPDATE: My article on DRP and Maybank’s DRP updates can now be found hERE.
This article can be considered outdated.

What is a DRP (Dividend Reinvestment Plan)?

Completed my second Maybank DRP (Dividend Reinvestment Plan) today. One qualifies for a DRP if you’re a shareholder before the Ex-Dividend date. If you’re unsure of what a DRP is, I’ve written about it previously.

To recap, the things you need to do when applying for a DRP are:

  1. Decide how many shares you’d like to receive in lieu of cash dividends;
  2. Sign and date the Dividend Reinvestment Form (“DRF”);
  3. Fill in your CDS account number in the DRF;
  4. Affix a revenue stamp / setem hasil to the DRF; and
  5. Mail the form

Maybank DRP

So back in October, Maybank offered their shares at RM7.25 per share and I applied for the maximum allotted to me – 68 measly units. Back then, RM7.25 was a 5% discount to the current market price. I would’ve made a profit of RM27.88.

After including the cost of the revenue stamp of RM10 and the stamp to deliver the form of RM0.80, that left me with RM17.08 in savings. I vowed to first sort out the calculations before wasting an hour of my life waiting in line at the post office for RM17.

Maybank DRP Setem Hasil
Malaysia’s Revenue Stamp / Setem Hasil

This time around, Maybank offered their shares at RM8.25 per share.  That’s roughly a 13% discount, considerably higher than the 5% offered the last time. Also, instead of 68 shares previously, I was allotted 84 shares this time around. Which translates to RM90.72 in savings for me (based on the market price of RM9.33 today). So this time, I decided to be a little more detailed / anal about my calculations.:

  • RM90.72 (savings) – RM10 (setem hasil) – RM0.80 (stamp) + RM 10 (estimated brokerage fees)
  • Final savings: RM89.92

PosLaju and Revenue Stamps

RM89.92 was worth my time. Went early to the PosLaju near my work area, arrived at 9.30 am sharp and got my number. I waited for about 5 minutes for my turn, purchased the RM10 Setem Hasil and RM0.80 stamp required for postage. I was done by 9.45 am. Wham, Bam! Thank you, Ma’am.

In my experience, it’s best to head to your local PosLaju as early as possible. Any time after 10 am or during lunch hour and you’d be faced with 1 hour-long queues. If your workplace has an office boy handling your mail, you can also seek his/her help out with this.

Also, you’re only able to get your revenue stamps / setem hasil at PosLaju outlets and from LHDN. I’ve tried enquiring at other more convenient places like Mailboxes etc but unfortunately, they don’t sell revenue stamps.

Maybank Dividend Reinvestment Plan DRP
Pos Laju
Dividend Reinvestment Plan (DRP) Malaysia
Affixed the 80 cents Stamp

Maybank 2017 Dividend

Maybank Dividend
Malayan Banking Berhad

Now, to the numbers. My gross investment in Maybank is RM25,723.21 with an average price of RM8.1197 per share. Notice the dividend totaling RM1,013.76 in value. That’s the first interim dividend Maybank is paying me which gives me a dividend yield so far of 3.94%. Opting for the 84 units in shares, I’ll be receiving the remaining RM316.80 in cash. Traditionally, Maybank’s final dividend payout in October will be slightly higher than their first dividend.

Think on that for a moment. This is Malaysia’s largest bank and I’ll be receiving (if all goes well) 8% in dividends from them. And I’m not even including my capital gain. So to those of you who’ve been asking and comparing my dividends to FDs. This is what I’m talking about. In the long term as the companies I invest in grow from strength to strength, so does my dividends. It may be 1-2% now but they’d be growing every year, some drastically like Maybank’s 8%. However, your FDs will follow the board rate, always hovering at 3-4%.

This 8% yield is possible because I managed to purchase their shares back when everyone was worried because Maybank lent money to 1MDB. With some common sense, you’d realize that the bank’s loan to 1MDB is minuscule and negligible compared to their entire loan portfolio. So why the fuss?

Even now at RM9.33 per share, the yield would be 5-6%. If I had been more diligent in watching Maybank, I’d have been able to snap them up at even lower prices. Learn how to start investing hERE.

End.

With Maybank DRP this time, I’d be adding 84 additional shares to my portfolio at the cost of RM10.80. Managed to save about 90 bucks with this exercise so I’d say it was a morning well spent. I even got to fill my stomach with some delicious prawn mee nearby at Restoran Fong Lie. It’s one of the best prawn mee in town.

Anyone else opted for Maybank’s DRP? Or did most of you take the dividends in cash instead? 

As always thank you for reading!

Prawn Mee Malaysia

Where to park your money in Malaysia? CIMB Unfixed deposit

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Filed Under: Fixed Deposits, Savings Accounts etc, Financial Planning 7

CIMB Unfixed Deposit

CIMB Unfixed Deposit
CIMB Unfixed Deposit

Seeing as how my last post on Maybank GIA-i was so useful for everyone, here is another avenue for Malaysians to park their hard-earned money for better returns. A few of our readers sent me info regarding CIMB Unfixed Deposit but I didn’t want to have an article up on it because it was ending soon and it’s a promotion and thus not recurring like Maybank’s GIA-i.

However, seeing as CIMB has renewed the promotion up to 30 June, I feel it is my duty to have this up asap.

I’ll be making some indirect comparisons between CIMB Unfixed Deposit and Maybank GIA-i so you’ll be able to make a more informed decision.

PIDM Protection

So first thing’s first, CIMB Unfixed Deposit is covered under PIDM. One of the main put-offs of Maybank’s GIA-i for many of you was that it wasn’t protected by PIDM. So if that was your main concern, you can now opt for CIMB’s promotion worry-free.

If you’re still unfamiliar with PIDM, basically it is an insurance on your deposit placed with banks covered by the government. For individuals, you’re covered up to RM250K. So if you deposit more than that amount, the remainder will be lost should the bank go bust.

The Terms

The current promotion gives you 3.9% per annum for a 6-month placement and 4.1% per annum for a 12-month placement.

There’s a minimum placement of RM10,000 required for both the 6 and 12-month unfixed deposit. Which is very reasonable in my opinion. However, you’ll be slightly inconvenienced because CIMB requires you to head to their branch to make a placement for their unfixed deposit.

Early withdrawal of CIMB Unfixed Deposit before the FD’s 3-month tenure will see any interests earned nullified. From the 4th month on, you will be entitled to 50% of the interest earned. That’s the gist of it. This right here is the deal breaker for me.

The rates given are applicable for one cycle only and interest earned will be credited to your CIMB Current / Savings account. So if you’re not a CIMB customer, you’d be required to open an account with them. Not a bad way for CIMB to bring in new customers.

The complete T&C sheet can be found hERE.

My Take

I personally won’t be taking up CIMB’s offer this time around. If this promotion was offered by Maybank, I’d hop on it immediately. The 4.1% p.a. is really attractive but I still prefer Maybank’s GIA-i. Here’s why: CIMB is actually telling you, yes you can withdraw/uplift your Un-FD early but if you do that, you’ll either get ZERO interest or half interest.

And what’s 50% of 4.1% per annum? 2.05 f*cking percent per annum. Pardon my french but I’d be better off placing that in Maybank’s GIA-i account or M2U savers and earn more. 

However! If you’re sure you won’t be using your money for a year, take up this promotion and place your money there. The 4.1% is pretty high and in the unlikely event where you need to make an early withdrawal, you can do so and still retain 50% of your interest (assuming you’ve passed the 3-month mark). This is a way better deal compared to conventional FDs.

Seriously, if you have a lot of FDs lying around, consider moving your money to CIMB Unfixed Deposit before the promo ends. The interest is high and you’ve got your behind covered in case you need to withdraw early.

I’d like to know how many of you have already made your placements for CIMB Unfixed Deposit. Are there better FDs out there with higher interest rates in comparison? 

IGB REIT AGM 2017 (Doorgift inside)

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Filed Under: Annual General Meetings (AGM), Doorgift / Goody Bag 26

IGB REIT AGM

IGB REIT AGM was held on 25 April 2017 (a Tuesday). I was really interested in putting a face to the management team of one of my favourite REITs, not to mention I’ve read online that they give out Cititel buffet vouchers every year. With that in mind, I journeyed to Mid Valley Megamall on a wet Tuesday morning.

If you’ve never heard of a REIT (Real Estate Investment Trust), you may find out more HERE.

This being my second AGM of 2017 (the first was Public Bank’s), I was a little more privy to the timing of it all. Making use of the KTM to avoid the anticipated traffic jam around Mid Valley, I arrived with about 10 minutes to spare. IGB REIT AGM was set to start at 11.30 am at Cititel.

The Venue and the sights that greeted me

IGB REIT AGM 2017
The Venue: Cititel

IGB REIT AGM 2017
Yup. This.

IGB REIT AGM 2017
And this.

IGB REIT AGM 2017
And more.

So the first guy in the picture, I don’t know why he had to sit down with his legs wide open right at the entrance. I saw him as soon as I got out of the lifts. Classy.

Don’t know if you’ve caught on by now, but AGMs in Malaysia are apparently attended 99% by our elders. I had a sliver of hope that this IGB REIT AGM would attract some youngER folks but I guess not. Turnout wasn’t as good as Public Bank’s AGM – I’d say IGB REIT’s was about 25% of the crowd.

Again, I have nothing against old people. Just wish there were younger folks showing interest in the companies they invest in.

The Refreshments

IGB REIT AGM 2017
Wow!! Empty Line?

See the nicely arranged cups and snacks in the first pic? My first thoughts: Wow I could actually have something before going in for the AGM.

I was then politely told that these were for another meeting. Walking ahead, I came across the familiar queue for refreshments. I didn’t want to waste my time in line, I think they served soya milk?

IGB REIT AGM 2017

IGB REIT AGM 2017 Doorgift

The moment some of you have been waiting for – I present you the Cititel buffet voucher! To be precise, a discount voucher. I expected a fully subsidized buffet..

After the AGM, I headed to Citi Cafe and found out a huge line outside. Apparently, the lunch buffet was close to RM38, dinner wasn’t though.

Oh and guess what some of the shareholders were doing right there? Offering to purchase the discount vouchers for RM20. Some even offered RM15. Another one of those Malaysian moments I guess.

IGB REIT AGM 2017 Buffet Voucher
IGB REIT AGM 2017 Doorgift – Buffet Voucher

IGB REIT AGM 2017
Parking Validation (submitted by a reader)

IGB REIT AGM 2017

As I mentioned earlier, the turnout was only about 25% of Public Bank’s. The ballroom started to fill out as the management team arrived.

IGB REIT AGM 2017
Pretty dismal turnout

IGB REIT AGM 2017
All set for AGM

IGB REIT AGM 2017
A familiar face from Public Bank’s AGM

IGB REIT AGM 2017
The management (4th from right is the main man).

IGB REIT AGM 2017
Spot Ms Elizabeth Tan on the left (Chief of Operations for the Gardens Mall)

IGB REIT AGM 2017
A closer look  : )

Remember my post on the CEO of Axis REIT – Leong Kit May? Well, it looks like IGB REIT is giving them a run for their money with their Chief of Operations (Gardens Mall) Ms. Elizabeth Tan. All jokes aside, she has been doing a good job, the whole team has.

This time around, the questions from shareholders were much better compared to Public Bank’s. The main topic of discussion was the parking bays at the malls. One particular suggestion was really good – Instead of having green and red lights to indicate and empty spot, a shareholder suggested that management instead put up only one green light (saving 50% of costs). As he astutely pointed out, no one looks for the red light.

Notice Mr. Singh from Public Bank’s AGM a month earlier, he attended this meeting as well. Though his complaints were nonsense in my opinion – He complained about the KTM’s being congested and packed. Dude, that’s a good thing. Also, it’s out of the management’s control. 

Findings

I found the management team of IGB REIT to be practical. These guys know what they’re doing. Tenancy for Mid Valley and The Gardens has never been an issue as they’ve a long queue of tenants waiting to rent. The issue right now is with the weak economy, it’s tough for IGB REIT to raise rental rates by a substantial amount. They’ve indicated that the rates however, will not be lowered but instead remain stagnant or raised slightly.

Even with the economy in bad shape, IGB REIT has managed to cut costs and increased profits in 2016. That is why their share prices has been going up. My confidence in the management has been greatly boosted after the AGM. I’m now waiting for the right price to add more of the REIT to my portfolio.

I’ve tried my best to take as many pictures as I could that day although they could’ve been better. I’ll practice my photography. Tips and suggestions on what you’d like to see the next time are welcome!

Thank you.

For more AGMs, head over hERE for a long list of Malaysian companies and their door gifts.

Public Bank AGM 2017

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Filed Under: Dividends, Annual General Meetings (AGM), Doorgift / Goody Bag 10

Public Bank AGM

I attended the long awaited Public Bank AGM on 27 March 2017. It being my first time to a Public Bank AGM, I didn’t know what to expect. It’s tough to put into words the atmosphere of an AGM so I’ll let the photos I took do most of the talking. I’ve received photos from some of our readers and compiled the of them for your viewing pleasure. Thank you again, contributors!

So there were 2 main reasons I wanted to attend this year’s AGM. First and foremost, the door gift. And also to meet the legend himself – Tan Sri Dato’ Seri Dr. Teh Hong Piow, founder of Public Bank. He is 87 this year.

I realize I could’ve improved this post with the full documentation of my journey. But alas, I’m still a newbie. I’ll learn.

Getting there

According to the notice, the AGM was poised to begin at 11 am sharp. Registration started as early as 7 am. Reading around online, I figured that parking would be an issue. So I decided to try out our new LRT. The whole journey took me about an hour and cost RM4.

The AGM was held at Shangri-La hotel in Kuala Lumpur. I arrived at 10 am and boy was I glad I took the train. The picture doesn’t really show it but it was a complete standstill outside the hotel. It didn’t help that all the drivers were old people..

Public Bank AGM
Entrance

We arrived just in time to catch a glimpse of Tan Sri Dato’ Seri Dr. Teh Hong Piow with his entourage walking into the hotel. All attempts of getting a picture of him with me inside failed miserably. I did snap a shot of his ride – it is a Rolls Royce. And he seems to love the number 3, all three cars had them.

Public Bank AGM
Tan Sri Teh Hong Piow’s Ride

Registration

Next step was registration. They had like 20 counters so there wasn’t much queueing up to do. It took all but 5 minutes to register with my NRIC and get my doorgift. It was a bloody red-colored bag that says Public Bank at the side. Major disappointment. I guess useful now that Malaysia is implementing the no plastic bags rule all over.

Public Bank AGM
Registration

‘Refreshments’

As specified in the AGM notice, refreshments will come in the form of coffee and tea. Nothing else. I made do with some water and headed across the street for some sandwiches at O’Briens.

Public Bank AGM
The ‘Refreshments’

Public Bank AGM
Old People Everywhere!

The Annual General Meeting

Finally, at 10.45 am, I headed down to the main hall for the main event – Public Bank AGM. 90% of shareholders attending the AGM were old folks, where are all the young Malaysian investors at?! The only youngsters below the age of 40 I see there were Public Banks’ staff.

Also, as seen in some of the pics, the main hall where Public Bank AGM was supposed to be held was fully seated. It was a sad and pitiful sight to see so many old people being forced to stand around throughout the duration of the AGM. Many couldn’t take it and had to leave the hall, not to be let in again.

Public Bank AGM
Heading down

Public Bank AGM
More old people

Public Bank AGM
In the main hall. More.

Public Bank AGM
And more!

Public Bank AGM
It begins

Public Bank AGM

Public Bank AGM
The man himself

Public Bank AGM
The stuff you hear everyone preach

Rant

Rant incoming. I really hate Malaysians. We are sorely lacking in class. When the board of directors opened up for questions from the floor, guess what happened?

  1. Uncle Singh came up to the mic and complained about the bad service and malfunctioning of the thumbprint readers at his branch;
  2. Chinese Auntie was next, she congratulated the directors, wished Tan Sri good health etc… And proceeded to promote her god damned charity. Even had the audacity to shout out her phone number to get donations;
  3. More congratulations and wishing of good health for the chairman;
  4. A woman in kebaya claims she flew from east Malaysia because her parents sent her to request for FD for senior citizens that pay monthly interests;
  5. Middle aged guy asked to continue the FD promo because he likes it; and
  6. More congratulations and wishing of good health for the chairman.

Seriously.. wtf. An AGM isn’t the avenue to discuss your bloody thumbprint reader at your kampung branch. Neither is it the place to ask for donations for your charity!!

The board of directors and the founder of Public Bank doesn’t want to hear you wishing him good health 20 times during a meeting. As for your FD requests, take it up with your branch manager or something. Not to the board of directors. GEEZ

Apologies for the rant but seriously every single one of the shareholders either asked stupid questions or said stupid stuff. Essentially, everybody’s’ time was wasted. The chairman of the meeting was visibly pissed and I really respect him for having the patience to deal with Malaysians.

End.

That last picture. That same phrase and mantra have been repeated time after time. You hear it, especially from your relatives and grandparents. It goes like this ‘If you purchased 1,000 units of Public Bank shares 50 years ago, subscribed to all its rights issues, and reinvested all dividends. You’d be a millionaire today. So during this Public Bank AGM, they did the math and came up with this diagram. Not only would you be a millionaire, you’d have RM4.1 million today.

It goes like this ‘If you purchased 1,000 units of Public Bank shares 50 years ago, subscribed to all its rights issues, and reinvested all dividends. You’d be a millionaire today. So during the Public Bank AGM, they did the math and came up with this diagram. Not only would you be a millionaire, you’d have RM4.1 million today.

Also the 19% compounded return p.a.

My comments about old people are meant as light hearted humor. I respect my elders and if anything, the showing of so many elderly people at this Public Bank AGM is a sign of the trustworthiness and capabilities of the bank. So please refrain from sending me any hate mail on this issue. 

As always, thank you for reading guys. I hope more of you will be able to join me for other AGMs in the future.

For more AGMs, head over hERE for a long list of Malaysian companies and their door gifts.