Renunciation of Malaysian Citizenship - An update

Last month, I received a letter from ICA requesting submission of the original copy of the Certificate of Renunciation (Form K). I was perplexed by that letter as a) I had not receive a letter from the Malaysian High Commission requesting for collection of the form and b) was told processing would take 2 years from submission. I decided to send an email to the high commission (mwspore@singnet.com.sg) and this is the reply:

Please be informed that your application for renunciation of Malaysian citizenship has been approved in June 2009 and a letter was sent to your Singapore address

That was less than 6 months from submission. Did I receive the letter? Of course not. So, I went to the high commission with the following documents and collected the Form K:

• 2 photocopies of the Singapore I.D;
• 2 photocopies of the Singapore passport;
• 2 photocopies of Singapore citizenship certificate (front and back of documents); and
• Deed poll (applicable only if you have changed your name)

You may also appoint a representative to collect the form for you as long as he/she has a letter of authorisation from you.

The reply also stated that:

For your information, the High Commission is sending back uncollected Form K / Birth Certificate for the year 2007- 2009 to the National Registration Department in Putrajaya.

So, if you submitted your application in 2007-2009 but haven't received a letter from the Malaysian high commission in Singapore, you better get in touch with them.

I am so glad to close this chapter.

Scrumptious Braised Pork Belly

Savoury porky stuff - Pork belly braised in Aromatic Soy Sauce

Recently I had braces put it (yeah, yeah, in adulthood) and everytime my orthodontist tightens them, I scratch my head and think of food that isnt a challenge to tender teeth. One can only eat so much whizzed up broccoli soup, pumpkin soup... Watties tinned Spaghetti (horror! - but hey, it isnt that bad, especially when I am at work and have to inhale my lunch in 5 minutes). A good Asian alternative is rice porridge accompanied by something nice and savoury... like Pork belly braised in Aromatic Soy Sauce


Ingredients:

0.5kg Pork Belly

8 dried shitake mushrooms
1/4 cup each dark & light soy sauce
1 cup water
2 cloves garlic (unpeeled)
1/2 tsp fennel seeds
1/2 tsp chilli flakes
1/2 tsp ground nutmeg
2 whole star anise
4 cardamom pods
3 cloves
1 cinnamon stick
1/2 tsp white peppercorns
pinch of sugar
2 pieces hard tofu (tau kwa) cut into half

Method:

• Cut pork belly into inch wide strips, after making sure that all gristlehas been removed
• Wash dried shitake mushrooms and trim stems off (you can keep them for making soup stock)
• Place all ingredients into a pot, bring to boil then transfer to a slow cooker and braise at very low heat till meat is tender (about 2h)
• Remove meat, mushrooms and tofu
• Strain sauce to remove spices, season to taste
• Slice meat into 5mm thick slices (or however thick you like them), tofu into 2cm thick slices, arrange on plate, with meat and mushrooms
• Serve Sauce alongside

Investment-linked policies

Life is a journey and we learn many lessons while traveling down this road. I will title today's lesson as "never buy Investment-Linked policies (ILPs)".

I contacted my insurance agent regarding one of my ILPs that I contribute monthly. It had appreciated by 4%. I gave a few scenarios, wanting to know the consequence of my action and here is what I was told:

1) Terminate it now and I will lose 40% of my initial investment. Why? That's the penalty for early termination of the policy.
2) Keep the policy and in 4 years' time (I call this the break even point), there won't be any penalty when I terminate the policy.
3) Change the monthly contribution amount, and/or the contribution interval i.e. three monthly or half-yearly, and prolong the 4 years to another 6 or 10 years.

If I had invested in stocks, ETFs or mutual funds via a brokerage firm, I would only have to consider:

a) whether I make a profit or loss. In this case, I have made a profit.
b) the commission I would have to pay the broker, which definitely would not cost me 40% of my initial investment.

If I had invested via a brokerage firm, I would have the freedom to sell whenever I want and not be tied down by terms and conditions that insurance companies use.

Therefore, if you want protection, buy a purely protection policy i.e. term. If you want to invest, invest in stocks, bonds, mutual funds and ETFs via a brokerage firm. Never again will I buy an ILP.

PS: I mentioned 'term' and not 'life' insurance for protection because there are many issues discussed about life/living policies on the net. It is not a topic I want to delve into in this post.

Here is one link regarding the 'not-so-good' side of life insurance:
http://www.daveramsey.com/article/the-truth-about-life-insurance/

There's plenty of info on the net. Take your time to research and have fun!