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Tuesday, 10 December 2024

Unlocking bond yields for retirement

 

A solution must be found to help retirees get hold of smaller portions of decent-yielding corporate bonds Retirees can also close the gap on their replacement rate through investment funds that pay out dividends monthly



ONE of the best ways for retirees to secure a good income replacement rate is by generating decent yields from their investments.

The replacement rate refers to the percentage of a person’s pre-retirement income that is replaced by retirement income.

A reliable source of this yield can come from corporate bonds.

However, for those looking to tap into such investment products, getting your hands on decent-yielding corporate bonds is not easy.

The reason for this is simple: access to these bonds often seems to be reserved only for the banks’ rich clientele through their private wealth management services.

For instance, bonds issued by local banks or blue-chip corporations that yield around 6% to 7% annually typically require a minimum investment of about RM250,000.

But why are these bonds not sliced and diced for the man on the street?

Some argue that banks, which manage the issuance and sale of these bonds (just like they handle initial public offerings), take all for themselves and their wealthy clients.

Banks, in turn, claim that there just isn’t enough corporate bonds coming into the market.

Incidentally, government debt papers, which are highly secure, typically do not provide sufficiently high yields to make a meaningful difference for retirees.

A solution must be found to help retirees get hold of smaller portions of decent-yielding corporate bonds.

Additionally, another way to boost yields for retirees and close the gap on their replacement rate is through investment funds that pay out dividends monthly.

This is a healthy, growing trend among issuers, and more unit trust and asset management companies should follow suit.

Finally, while the unit trust market has made strides in lowering fees – a thorny, ongoing issue – some players still charge too much.

Regulation should be introduced to ensure that the man on the street does not get unfairly charged for products that he or she relies on to provide income during retirement



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Sunday, 8 December 2024

Danger and Health risks thriving in dirty fridges - from food poisoning to liver damage

 

Worth the effort: A restaurant worker inspecting a freezer to ensure raw items are stored correctly. — FAIHAN GHANI/The Star

PETALING JAYA: Contaminated refrigerators pose significant health risks, including food-borne illnesses and exposure to harmful chemicals, warns a health expert.

Prof Dr Mohd Hasni Jaafar, a public health specialist at Universiti Kebangsaan Malaysia (UKM), said contaminated refrigerators carry microbiological and chemical risks that can have severe health consequences.

“Biological risks are particularly concerning, as they can lead to illnesses such as listeriosis, salmonellosis, E. coli infections and mould-related conditions,” he said when contacted.

He said Listeria bacteria often grow with poor temperature regulation, leading to contamination spreading in refrigerator interiors.

Salmonella is typically linked to unclean raw meat and eggs, and E. coli contamination can occur when cooked and uncooked foods come into contact, he added.

The health implications of these risks can be severe, ranging from food poisoning, characterised by vomiting and diarrhoea, to allergic reactions from mould spores.

“Some moulds can even cause liver damage,” Prof Mohd Hasni said, adding that chemical contamination, which is often overlooked, is another significant risk.

Food packaging materials, particularly newspapers used to wrap vegetables, fish or meat, can expose consumers to harmful substances.

“Newspapers may contain heavy metals like cadmium and lead, commonly found in printing pigments and solvents.

“Prolonged exposure, even at low doses, is associated with chronic non-communicable diseases,” he said.

Therefore, maintaining a clean refrigerator is crucial to preventing cross-contamination during food storage.

Prof Mohd Hasni said while newer refrigerators with proper temperature regulation may require less frequent cleaning, signs such as visible stains, temperature fluctuations or pest infestations are a signal for immediate attention.

In Malaysia, there isn’t a universal protocol for refrigerator cleaning, he said.

However, the Health Ministry’s Food Safety Regulation (2009) requires food establishments to adhere to strict hygiene guidelines, ensuring refrigerators and freezers are clean, well maintained and fit for purpose.

Prof Mohd Hasni said cold-stored foods must be kept at specific temperatures – below 4°C for chilled items and below -18°C for frozen goods.

He added that the US Centers for Disease Control and Prevention (CDC) provide a detailed five-step protocol for cleaning refrigerators.

This includes disposing of spoiled food, emptying the refrigerator, cleaning removable parts and the interior, as well as reassembling and restocking clean parts.

“This process is particularly critical when dealing with spoiled food, contamination from animal blood, or mould growth,” he said.

Routine inspections by health officers, he said, play a key role in maintaining food safety, especially in densely populated areas.

Inspections may occur monthly or yearly, depending on the location, or in response to food quality complaints or poisoning incidents.

During inspections, he said, several critical aspects are assessed, including refrigerator and freezer cleanliness, temperature control, and food storage practices.

“These inspections use a demerit-based evaluation system, with specific attention to refrigerator and freezer hygiene,” said Prof Mohd Hasni, adding that regulations require freezers to maintain temperatures below 0°C to ensure food safety.

For veteran restaurateur Zainun Rahman, 64, the cleanliness of refrigerators and freezers reflects a restaurant’s dedication.

“Keeping fridges and freezers clean isn’t just about meeting regulations. It’s essential for food quality and trust,” she said.

Her restaurant follows a strict weekly cleaning routine, which includes removing stains, checking for spoiled items, sanitising surfaces and ensuring proper food storage to prevent cross-contamination.

“Temperature control is key,” Zainun said, adding that her team monitors refrigerators and freezers daily to maintain optimal levels – below 4°C for chilled items and below -18°C for frozen goods. Regular maintenance, like checking door seals, helps avoid issues.

“It’s not just about avoiding fines; clean equipment ensures safe, high-quality food and reduces energy costs,” she added.

Restaurant owner Mohd Azmi Yusuf, 51, said his emphasis on clean refrigeration stems from a bad experience at a previous workplace, where poor hygiene practices led to food spoilage and contamination.

“When I opened my own restaurant, I promised never to let that happen.

“Customers might not see the effort, but they can taste the difference,” he said, stressing that trust starts behind the kitchen doors.

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'Taking cleanliness for granted may be our downfall' | The Star

Saturday, 7 December 2024

Congratulations! China's spring festival inscribed as UNESCO Intangible cultural Heritage of Humanity

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A new layer of unique significance is attached to Spring Festival


The Spring Festival, a Chinese cultural symbol that has long been well-known around the globe, has gained a new title this week. The United Nations Educational, Scientific and Cultural Organization (UNESCO) added "Spring Festival, social practices of the Chinese people in celebration of the traditional New Year" to the Representative List of the Intangible Cultural Heritage of Humanity on Wednesday. With this, China now has 44 items on the UNESCO Intangible Cultural Heritage list, continuing to be the most enlisted country in the world. The successful inscription of the Spring Festival is not only another important milestone of the world's embrace of Chinese civilization, but also provides a new starting point for exchanges and mutual understanding among different civilizations.

The Spring Festival's inscription can appropriately be described as "well-earned." The Spring Festival is not only a collection of Chinese folk culture filled with the quintessence of Chinese culture, but also a unique spiritual and emotional code of the Chinese nation. Whether it is the poetic verses "In the sound of firecrackers an old year is gone" or "New charm will always replace the one that's worn," it is full of the ceremonial sense of saying goodbye to the old year and welcoming the new one. One of the aspects of the Spring Festival that is significant to Chinese society and to the safeguarding of UNESCO Intangible Cultural Heritage around the world is that it is a good example of how traditional culture and social development can complement each other. As the text of China's application to UNESCO emphasizes, celebrating the Spring Festival provides "a sense of identity and continuity for the Chinese people." Regarding the Spring Festival, China has seen the largest cyclical migration in human history over the past few decades, as it has transformed from an agricultural to an industrial country. The traditional culture represented by the Spring Festival has become an internal dynamic and a representational form of Chinese modernization.

Pursuits such as "family reunion" and "going back home for the Spring Festival" essentially embody the resilience and perseverance of the Chinese people, as well as the aspiration and pursuit of a better life. In addition to personal happiness, this extends to the concepts and values of family harmony, national prosperity and world peace. This is also the reason why the Spring Festival is a cultural symbol that resonates with the world. It is consistent with the global hope for peace and harmony, providing inspiration for solving the many dilemmas and problems caused by the realpolitik mind-set of playing zero-sum games where one side must lose if the other wins. 

Before being included in the UNESCO Intangible Cultural Heritage list, nearly 20 countries around the world had already designated the Chinese New Year as a public holiday, highlighting the extraordinary influence of Spring Festival culture in a globalization era. Today, approximately one-fifth of the world's population celebrate the Chinese New Year in various forms. Many national leaders visit local Chinese communities and deliver greetings during the festival, demonstrating that as China's international status and influence rise, the global recognition of Chinese culture has also grown. Last December, the United Nations officially designated the Lunar New Year as a UN floating holiday. This shows that the Spring Festival is no longer merely a cultural heritage of China. It has also transcended national and ethnic boundaries to become a cultural symbol that is widely accepted, recognized, and appreciated around the world.

The significance of the Spring Festival's successful inclusion as an Intangible Cultural Heritage of Humanity goes beyond this achievement. As a cultural name card of China, it bridges the diverse cultures and values of East and West. While offering the world a more comprehensive and multidimensional understanding of China, it also fosters cross-cultural understanding and exchange. The world needs more examples of this kind to shape its perception of China. Fortunately, the vast land of China is blessed with a rich history and profound civilization. Many other Intangible Cultural Heritages, like the Spring Festival, which builds bridges between ancient and modern times, the East and the West, are worth exploring, preserving and promoting.

Apart from the Spring Festival's successful inscription, three Chinese heritage projects - traditional Li textile techniques, traditional Chinese wooden arch bridges, and Qiang New Year festival - were transferred from the List of Intangible Cultural Heritage in Need of Urgent Safeguarding to the Representative List of the Intangible Cultural Heritage of Humanity.  This signifies that through concerted efforts, these heritage projects have seen fundamental improvements in their preservation status, moving out of the endangered category and establishing a foundation for inheritance and development.

In recent years, China's achievements in cultural heritage protection have been widely recognized. A wealth of systematic practical experience has been accumulated in areas such as government leadership, social participation, and education and inheritance, providing valuable models for other countries to draw upon. From delving into Mayan civilization to studying human origins in Africa and exploring ancient Egyptian civilization, China, together with its Belt and Road partners, has launched over 30 cultural heritage protection projects. These efforts have yielded positive results, adding significant contributions to fostering cultural exchange and mutual learning among civilizations worldwide.

"Delicious soup is made by combining different ingredients." The diversity of civilizations is a fundamental characteristic of human society. While walking on the path to building a community with a shared future for mankind, China is willing to work with countries around the world to promote cultural exchange and mutual learning with a more open and inclusive attitude.

As the latest representative of China's Intangible Cultural Heritage of Humanity, the Spring Festival is now attached with a new layer of unique significance. Rooted in Chinese civilization and integrated into world civilization, it plays an increasingly vital role in fostering dialogue between Chinese and other civilizations in the world. This enables the world to find greater resonance and harmony within its diversity of civilizations.


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