CPO prices face pressure from rising inventory, ringgit

KUALA LUMPUR: Crude palm oil prices could face increased increased pressure based on rising inventories and the strengthening of the ringgit, says PublicInvest Research.

Malaysian palm oil inventory as at the end of 2017 was 2.73 million metric tonnes, the highest level since November 2015.

"We believe the temporary suspension of CPO export tax will boost the CPO exports, which will subsequently help ease the pressure on the current high level of CPO inventory. We see 2-2.1m mt to be the comfortable level for inventory," said the research firm.

It noted that CPO exports rebounded from the previous month, driven by the EU, Indian and the US despite weaker demand from China and Pakistan. For 2017, exports grew 3.2% on-year to 16.5 million metric tonnes, due to China and Pakistan.

"In terms of export volume by destination, India (12.2%) was the biggest buyer for Malaysian palm oil products, followed by EU (12%) and China (11.9%). Netherlands, again, was the biggest palm oil exported destination, making up 50% of EU volume due to Rotterdam’s large downstream manufacturing base," it said.

There has been a gradual decline in production as CPO production slipped 5.6% on-month to 1.42 million metric tonnes in December as oil palm trees enter low production season. For the full-year, production rose 15-% on-year to 19.9 million metric tonnes, slightly below the level seen before the El Nino year.

PublicInvest Research said it has been a slow start for 2018 with Malaysia's CPO exports falling 1.4% on-month in the first 10 days of 2018.

However, CPO exports to China is expected to pick up ahead of the Chinese New Year celebration.

"Average Dec CPO price fell from RM2,654/mt to RM2,405/mt, down 9.4% MoM. For 2017, CPO price climbed 5.2% to RM2,788/mt," the research firm said.

Credit/Source: The Star

郭鹤年的核心能力

曾经有个想法，就是將过去的政商名人，以他们的能力及作为，写出对社会的影响。就如生意无论大小，都是先从小圈子开始向外扩展。他们是如何成功壮大？又如何开疆扩土？將原本小小的家店，变成集团式的大企业？这与灵魂人物的核心能力有关，而理解这核心能力，能供大眾学习成功之道，甚至躲开失败之因。郭鹤年一直是这对象，因为这位杰出企业家，能团结家族成员，从新山开始、转战星岛、再移师香江、纵横于期货、成就于社会。

根据郭老在访谈的口述，他曾经为了学习期货市场的运作，而到国外苦学。学习期货市场，这关键词道出了郭老的志向。如果只是想单纯的买卖米粮，何必远赴英美学习期货？说明郭氏兄弟公司，有意做世界的大卖买。当时郭氏兄弟规模小，但其志向之远大，证明了他们后来的作为，而一切从学习期货交易开始。

期货变数多面相扣
期货在金融学是最完美的市场，基本上是卖出还没买进的货物，卖的是预期。过去只有粮食，之后有货幣、债卷等。特別是货幣这期货，能用于支付未来的账款，主要取其特性稳定货幣之间的差异，也能谋取货幣波动的差距，而赚取暴利，如90年代亚洲金融风暴时，多个货幣被炒作，兑换率出现激烈波动，就是炒家谋取波动式暴利的手段。

期货市场，除了大宗买卖，最不同的就是先卖后买，就是所谓的预测。当时没有今天先进的电脑，除了自己的分析，绝大部分都要靠情报，情报收集事关预测的准確性，所以人脉、局势分析、国际新闻、政局动盪，甚至天气变化都会造成农產品欠收，而进一步造成货物供应的多寡，还要对供应链、存货及消费量进行预测，所以期货交易，是需要高技术、高分析及胆大又要心细的活。所以期货市场成败可以很快，而天时就是期货决定成败的关键。

期货的瞬间变化，可说环环相扣，如古巴导弹军事危机，引发联合国的制裁行动，这將影响国际甘蔗的出口產量，导致国际间白糖的价格提高，因为原料短缺。但也可能是很单纯的变化，比如巴西天气突变，咖啡豆欠收，加上国际流动储量不大，咖啡这期货將大涨。所以下功夫学习，不是必然而是必需。在信息不那么发达的年代，要瞭解地方的新闻，如巴西天气突变，不可能在马来西亚的新闻出现，要得到信息就必需靠情报收集，而这可能全球性的，难度可想而知。

总公司迁徙香港
从另一个角度，郭老也在访谈中谈到，每晚回到酒店，都会对当天见过的人，重覆理解一番，然后在匯报给公司，公司也会根据匯报进行应对。这看上去好像很平常，但实际上下了不少功夫。研究谈论，確实能更深层的理解对方，掌控细节能对理解对方的內心变化，理性与感性的理解，能达到最佳的沟通效果，所以郭老是谈判高手，与他谈话应该也很舒服。谈话中的每一种回应，或多或少能反应自己意愿，同时能让对方理解自己意图，甚至能测试对方的反应，谈话也是一种博弈，会如此重视研究，就是要做好准备功夫、应对变化。

由于期货买卖的成功，主要是白糖生意，郭氏兄弟开始进入酒店业、地產业、报业及媒体。总公司迁到香港。迁徙到香港，是一个比较好的选择，香港是国际金融中心，服务业、航运比较发达，法律法治相对健全，加上郭氏从事期货，需要大量的手握重金及货幣，香港是很合適的经商地点。税务方面香港也比较宽鬆，公司所得税远比马来西亚及新加坡低。

只是有一点笔者不明，郭老对期货瞭如指掌，对货幣的波动想必也能掌控自如，期货的买卖总是要结帐的，手握哪一种增值货幣，能將利益最大化。这点计算成本不能忽略的一环，但郭氏却终身不投入银行业，这本来就是水到渠成、得来全不非功夫的行业，为何郭氏不进取呢？这是否是守著自己的核心能力就好，不去贪图不属于自己的份？然而这份，又该如何分辨呢？这是笔者最想问郭老的一句话。

逐渐增值型富豪
核心能力，是一个人或团队最突出的本事，也是能够不断重复使用的能力。从以上的分析来看，郭老的核心能力是期货买卖。加上对情报收集、对变化细节的掌控及理解、对交际务实又感性、为人胆大又细心、家族凝聚力强、性急但志向大，肯下功夫又不贪图暴富的心態，能有这种修为，殊不简单。

从郭老的財富增长来看，几乎不是暴富的富豪，而是逐渐增值型的富豪。从期货交易看到天时的重要性，从酒店业及地產业看到地利的决定性，从处事待人看到人和的催化作用，这都是郭老办企业留下的写实，还有不贪而富，这是《易经》中元亨利贞四种环节里，最难过的贞关。

贞的解读为正，坚持正道、坚守本分、持之以恆、坚定信念、保持诚信。2012年郭老得到终身成就奖时说过，要专注、要坚持、成败皆为母的说法，道出他內心坚守的贞！

Source/Credit ~ http://www.orientaldaily.com.my/s/225893#

Challenging outlook for palm oil market in 2018

PETALING JAYA: The outlook for palm oil in 2018 is deemed to be challenging.

Amid stiff market competition, the century-old plantation sector will continue to struggle with long-standing labour shortage, rising operating costs, dwindling demand in traditional export markets and increasing anti-palm oil campaigns in the West, say market analysts.

One consolation... industry players and analysts have pegged the average price of crude palm oil (CPO) at RM2,400-RM2,800 per tonne in 2018 – which is much higher than local planters’ average production cost of RM1,200-RM1,500 per tonne of CPO.

The fortunes of plantation companies are dependent on a stable CPO price, say analysts.

Plantation companies stand to benefit from the weaker ringgit, given the fact that palm oil is an export-oriented commodity using the US dollar or other foreign currencies, while the planters’ cost of production is ringgit-denominated.

Among planters, a mere RM100 increase in the CPO price per tonne could translate into additional “hefty” contributions to group profits.

One analyst points out that every RM100 per tonne change in the CPO price could result in an “addition or reduction of RM250mil” to Sime Darby Plantations Bhd while for Felda Global Ventures Holdings Bhd , it would be an “addition or reduction of RM100mil”.

Palm oil experts generally are painting a good short-term CPO price outlook in 2018. Godrej International Ltd director Dorab Mistry is the most bullish, predicting CPO futures to hit RM3,100 per tonne this month.

This is based on his assumption that Brent crude oil will trade at US$45-US$65 per barrel, the US Federal Reserve will raise interest rates and the US dollar will strengthen against currencies in Brazil, Argentina and India.

At a recent international palm oil congress held here, planter United Plantations Bhd deputy chairman Datuk Carl Bek-Nielsen has projected CPO at RM2,400 to RM2,800 per tonne while Plantation Industries and Commodities Minister Datuk Seri Mah Siew Keong is positive that CPO will trade at RM2,600-RM2,700 in 2018.

The average CPO price in 2017 saw an increase to about RM2,815 per tonne compared with RM2,653 per tonne in 2016.

Kenanga Research in its latest report has estimated CPO price at RM2,400 per tonne in 2018.
Despite a decent short-term outlook, the research unit expects weaker average CPO price at RM2,400 per tonne in 2018, softer by 11% from RM2,700 per tonne in 2017.

“This is largely due to a sector-wide production uptrend as planters in Malaysia and Indonesia experience a recovery from severe droughts in 2015-2016 due to a super El Nino,” it adds.

With depleted inventories largely restored in 2017, Kenanga Research also sees more CPO price downside than upside in 2018.

Nevertheless, positive catalysts include the wet weather La Nina earlier in the year, and potential support from better crude oil prices.

“In the short term, we expect demand to pick up particularly from China as Chinese New Year demand comes into play at the end of February,” says Kenanga Research.

Although other regions tend to face softer demand over the winter season as palm oil solidifies in cold weather, it also expects the festival boost to be supportive to palm oil prices, especially in January.

With a weaker supply-side outlook in December 2017 to February 2018 due to the wet weather and a seasonal production downtrend, the overall price trend should be positive over the next few months.

Kenanga Research points out that while a weak La Nina may not have significant impact compared to the typical monsoon season seen in the region, “only a moderate to severe La Nina phenomenon would be seen as a significant price catalyst (for CPO)”.

CPO production increased in 2017, post El Nino, a situation which resulted in a severe drought that affected the fresh fruit bunches (FFB) production.

To recap, during the big El Nino phenomenon in 1997 and 1998, local palm oil production saw a huge growth the following year. Currently, local estates are already showing similar signs of growth in output, following the super El Nino seen in 2015-2016.

The Malaysian Palm Oil Board (MPOB) is targeting CPO production to hit 19.5 million tonnes in 2017 compared with 17.5 million tonnes in 2016.

Apart from increasing production, local palm oil stocks is also on the rise.

The latest statistics from MPOB saw end-November 2017 palm oil stocks rising to its highest in almost two years at 2.56 million tonnes.

“Growing stock levels could put pressure on the palm oil futures benchmark prices,” says one analyst.

As at 5pm Friday, the third month benchmark CPO futures contract for March was trading lower at RM2,511-RM2,512 per tonne range.

JF Apex Securities in its Dec 12 report says: “Overall, we believe the slight drop in CPO price is attributed to expectation of higher production.”

Its 2017 full-year CPO average price forecast remains at RM2,800 per tonne as “strong soybean oil price had lifted CPO price over last few months.”

“We are maintaining our neutral view on the sector as we expect recovery of FFB production will be neutralised by the softening in CPO price with inventory piling up.”

Credit/Source: The Star

Top 10 Young Millionaires

‘Money money money /Always sunny / In the rich man’s world’ sang Abba in their hit song, aptly titled ‘Money, Money, Money’.

In today’s fast-moving cosmopolitan world, those who are far-sighted and enterprising, willing to work hard, take risks, and are determined to make it big, well, those are the people who eventually find themselves landing with a glorious thump at the door of Abba’s vaunted ‘rich man’s world’.

But like the rest of the humble populace, we’re all curious - once they’ve made it, what do the big boys spend all their money on? After all, having so much dough that you can quite literally do whatever you want day after day, well, that’s gotta be fun, right?

So, in the spirit of taking a peek at a rich man’s world, we decided it would be fun to pit a handful of Malaysian money-makers against some international personalities with money to spare.

We hope you take inspiration from this bunch of people who together have enough money to feed a small nation! Read how they started out, fell down, climbed up again, made tons of money, and what they spend all that moolah on! With a little bit of luck, a whole lot of hard work and a careful perusal of their stories, you too could be on your way to business class travel, designer goods and basically everything your heart could possibly long for!


Lady Gaga
24, Chart-busting Pop Singer

"I don’t really spend money and I don’t really like fame."

The eccentric Lady Gaga (real name Stefani Germanotta) truly has the world eating out of her hands. As a young girl, she had a precocious start, gaining early admission to NYU’s prestigious Tisch School of the Arts and later being signed to Def Jam Recordings when she was 19. After being dropped by the label, she was discovered again and signed to Interscope Records, where she spent some time writing songs for other artistes in the ilk of Britney Spears and Fergie. When Akon heard her sing, he quickly convinced Interscope to sign a joint deal, which also signed her to his label Kon Live Distribution. In 2008, she catapulted onto the scene with her debut album The Fame. Gaga’s aptly titled album has prophetically brought her even more fame. This year’s Forbes rankings reveal that she has leaped to No 4 on the 100 Most Powerful Celebrities list, with a salary of USD62 million (RM198 million)! Her 106-tour date alone raked in USD31 million (RM98 million) and her music video for ‘Telephone’ with Beyonce had 90 million views! With a combination of quirky, sometimes downright weird fashion choices and interesting tunes, she’s well on her way to staying at the top.

$ Lady Gaga spends USD25,000 (RM79,000) a month on a breathtaking USD5 million (RM16 million) home in Beverly Hills, overlooking the ocean!
$ According to the New York Daily, Gaga has shown an interest in a USD26 million (RM80 million), 8-bedroom, 8-bathroom, 7.5 acre English country style estate in the Hamptons.
$ She’s a daddy’s girl and is very close to her family. She bought her parents a black Rolls Royce for their anniversary and covered the cost of her father’s open heart surgery.
$ She once bought USD1,000 (RM3,000) worth of pizza for fans at an autograph signing when she found out that some of them had waited overnight for her.
$ Gaga has confessed that she spends most of her money on security, so that she can evade the paparazzi and make herself “disappear”!

Cristiano Ronaldo
25, Football Star

"I’m living a dream I never want to wake up from."

The flamboyant, stylish Cristiano Ronaldo is the world’s most expensive football player. He was brought up in Madeira, Portugal, the son of a cook and a gardener. As an 18-year-old, he was signed by Manchester United for a record £12.24 million (RM60 million) in 2003. He was a great success in United, receiving the FIFPro Special Young Player of the Year award in 2005 and the PFA Player’s Player of the Year and PFA Young Player of the Year, both in 2007. Also in 2007, he signed a 5-year, £120,000 (RM594,000) a week extension with United, officially making him the highest-paid player in team history. In 2009, Manchester United accepted a transfer bid worth £80 million (RM396 milion) from Real Madrid for Ronaldo. Ronaldo’s new contract with Real Madrid is worth 11 million euros (RM45 million) a year. That aside, the young Portuguese player also acts as the captain of his national team. Cristiano Ronaldo is No 48 on Forbes list of 100 Most Powerful Celebrities, the 2nd footballer after the much older David Beckham.

$ He once reportedly bought a pair of £25,000 (RM123, 000) earrings for then-girlfriend Nereida Gallardo.
$ Ronaldo’s legs are purported to be insured for more than USD100 million (RM494 million).
$ Cristiano Ronaldo is a huge car enthusiast and has to date bought a Porsche Panamera Turbo (RM815,000), BMW M6 (RM272,000) Aston Martin DB9 (RM643,000), Rolls Royce Phantom (RM1,680,000), Bentley Continental GT Speed (RM693,000) and a Ferrari 599 GTB (RM990,000 – totaled in an accident)
$ He has bought an £8 million (RM39 million) hotel in Portugal the sea on Porto Santo.

Ray Ling
31, Group Chief Executive Officer, IBC Group of Companies

Ray Ling is a Sarawakian-born lad from a humble background, who came to KL when he was 19 for his education. He decided to explore the direct sales line with a group of his classmates and got quite lucky, earning more than RM20,000 a month when he was just 21 years old! He bought his first Mercedes Benz when he was 23. But after being the victim of an attempted kidnap, his life spiraled downhill. His career suffered and he left for Taiwan for 2 years, where he fulfilled his dream of becoming a radio DJ. He came back to Malaysia when he was 25, but couldn’t find a job. He reached an all-time low when he couldn’t even afford food for himself. He ventured into network marketing again and turned his life around. In 2006, he broke the Malaysian record, having produced 7,000 agents and earned almost RM3 million in 2 years! 2 years later, he wanted to form his own direct sales company. Through a serendipitous meeting with a stranger who had read about him, he managed to buy a direct sales license for RM50,000 (worth RM1.5 million)! And the rest, as they say, is history. He formed IBC Group and within 3 months, his company’s turnover was up to RM1 million again. He was the youngest CEO of a direct sales company when he was 27 years old. After that, he started to form a lot of subsidiary companies – he now has 7! Ray says that his climb up the millionaire’s ladder reflects the words, “Every successful person has to experience being in the valley before they can reach the mountains.”

$ He likes designer watches – he has 2 Panerai watches, one worth around RM30,000 and another antique one valued at RM20,000!
$ He loves coats and confesses that he has around 400 of them, ranging between RM800 to RM1,000 each!
$ He treats himself to a facial every week.
$ His book Secrets of a Young Millionaire has reached the MPH Bestsellers list and the Chinese version is sold out!
$ He just bought a RM2 million bungalow in Kota Damansara and has a luxury apartment overlooking KLCC.
$ Ray is spearheading the launch of a RM5 million fine dining Chinese restaurant in The Gardens, MidValley Megamall, KL.

Ganesh Kumar Bangah
30, Co-Founder, President & Group Chief Executive Officer, MOL & Friendster

The effervescent, cherubic Ganesh Kumar Bangah has always been very enterprising. Whilst still at university when he was only 19 years old, he developed a cybercafe software programme, which he sold to 40 cybercafes but later let people download for free. He soon realised that he could turn those physical outlets into payment outlets where people could pay cash for their online transactions, specifically online games. He started MOL when he was 21, and became a millionaire at 23, when he listed his company! He also earned a Malaysia Book of Records award as the youngest CEO of a public listed company. Even though MOL was doing extremely well, Ganesh knew that MOL didn’t have much of a community, and fully acquired Friendster in December last year. Ganesh’s strategy is to turn Friendster into a social gaming destination – he didn’t buy Friendster to compete with Facebook, he bought it for its community and brand. These days, MOL is a mammoth money making machine, which generates a revenue of about USD105 million (RM350 million) per year, has over 115 million registered users through Friendster, over 540,000 physical retail payment channels across 80 countries and is connected to 88 online banks across 9 countries! Ganesh’s approach to his success is simple, “For better or for worse, I invest or re-invest in assets or businesses that add value.”

$ When he was at the Four Seasons in France, he spent RM3,000 on a meal for two. That’s his most expensive meal to date!
$ Most of the time he travels business class.
$ He likes ice wine, which is found in cold areas in Canada, and is made from frozen grapes. It costs about RM100 per bottle.
$ Ganesh has always been a gadget guy and is especially fond of Apple products. He’s got a Macbook Air, Macbook Pro, Apple Tv, iPad, iPhone 3G, an iPhone4 waiting for him in the US, and a desktop full of Apple stuff!
$ Ganesh has a Vertu phone, which costs about USD6,000 (RM19,000) – which he uses for conference calls, because the reception is good.
$ Most of his money goes towards investing in companies. He says that if you manage an investment in a tech company well, a RM2 million investment could potentially turn 
into RM20 million in 3 years!

Rupert Grint
21, Harry Potter star

"I have no idea what I’m going to do with all this money."

Rupert Grint shot to fame after landing the role of Ron Weasley in the multi-million dollar Harry Potter film franchise. A big fan of the Harry Potter books, he won the part of Ron Weasley at the tender age of 11, by sending in a video of himself dressed up as his drama teacher and rapping about himself. He beat out 40,000 other applicants for the role. His first Harry Potter movie – Harry Potter and the Philosopher’s Stone, launched him and co-stars Daniel Radcliffe and Emma Watson into the big leagues even though none of them were even teenagers yet. Subsequent Harry Potter films have only added to Rupert’s wealth and he is estimated to have a personal fortune valued at £20 million (RM98 million) which will almost certainly swell tremendously until 2011 when the HP movies end. Aside from the teenage wizard flicks, Rupert has embarked on slightly edgier fare as well, taking on more mature roles in Driving Lessons, for which he won rave reviews and the recently released (though not in Malaysia), Cherrybomb, for which he has a very un-Ron Weasley nude scene. Ron does admit that he has more money than he knows what to do with, and when asked during an interview what he would do if acting roles dried up in the future and he had to go back to scratch, the laidback Rupert prosaically said, “I think I’ll be all right.” However, this is highly unlikely to be the case as Rupert is pipped to be the most successful of the HP kids, with directors like Martin Scorcese endorsing his star potential!

$ He has a Hummer-style golf cart, and a bright orange Range Rover (to match his hair). He has also said that he wouldn’t mind, “a collection of old Mustangs and a few classic hot rods”.
$ Rupert Grint has bought quite a lot of things over the years, among them a 1974 Mr Whippy Bedford CV ice cream van, a Sega Rally 2 Twin arcade machine, a coin-operated fortune-telling machine, a hovercraft, and a quad bike!
$ He has bought a pair of teacup pigs, which are exotic pigs that can fit into a teacup. Each pig is valued at 
£1,100 (RM5,390)!
$ Rupert Grint is quite the real estate collector and according to Land Registry documents, he has a £5.4 million (RM26 million) 18th century, 22-acre Hertfordshire mansion, which has 5 reception rooms, 6 bedroom suites and 2 cottages on the grounds. He also owns another £3.35 million (RM16 million) mansion and co-owns a sizeable detached home. His overall property portfolio is valued at £9.2 million (RM45 million)!

Kobe Bryant
31, NBA Star

"I ‘ll do whatever it takes to win games, whether its sitting on a bench waving a towel, handing a cup of water to a teammate or hitting the game-winning shot."

One of the most successful basketball players of all time, Kobe Bryant is 31 and still working his magic. The son of a former basketball player, Kobe spent most of his formative years in Italy where his dad played professional basketball. When he was 13, the family moved back to America and Kobe played high school basketball, earning a stellar reputation and playing all 5 positions. Upon his graduation, he eschewed a basketball scholarship and an education at an Ivy league university, and headed straight for the NBA. 17 at the time he signed with the LA Lakers, Kobe had to get his parents to co-sign the contract because he was too young. Having been a fan of the Lakers as a boy, he has so far remained with them throughout his career. He has been named MVP (Most Valuable Player) and has achieved a number of records, including being the youngest player (31 years, 151 days) to achieve 25,000 points in a season, beating the legendary Wilt Chamberlain. In April of this year, he signed a 3-year contract worth USD87 million (278 million). Kobe Bryant is ranked No 14 on the Forbes Celebrity 100 list (the 2nd sportsman on the list, after the disgraced Tiger Woods) and made USD48 million (RM153 million) last year.

$ Kobe reportedly forked out
USD200,000 (RM639,000) to settle a lawsuit brought by a former maid.
$ He bought a 9.5 acre USD13.5million (RM43 million) home in a gated community in Orange County, which includes 2 guest houses.
$ In 2003, Kobe Bryant bought his wife Vanessa a stunning 8-carat purple diamond ring valued at USD4 million (RM13 million), - as an apology after his sexual assault case that was later dropped.
$ Kobe Bryant bought a 50% interest in the Italian basketball team Olimpia Milano, where his father used to play.
$ Kobe bought his wife the first automatic Lamborghini Murcielago in the world, at a cost of USD400,000 (RM1, 270, 770)!

Joey Yap
33, Founder of Mastery Academy of Chinese Metaphysics, Master Consultant of Yap Global Consulting

Joey Yap began his venture into Chinese astrology as a young university student in Curtin University, Perth, Australia. He attests that there was no special event that preceded this passion for astrology, he just became interested in it and started consulting. The business picked up and he found people eager to learn from him. So he started teaching, and when he came back to Malaysia after his graduation, he decided the best thing to do would be to deviate from his Accounting degree and embark on Chinese astrology full-time. What he wanted to do was to make a difference using metaphysics to create a change in people. With the BaZi profiling that he’s created, he’s helped MANY people become millionaires. He says, “When you understand your profiles, you will understand the path of least resistance and how to become wealthy. Everyone has their path. If you know your path, things will be easy.” Joey soon branched out from mapping individuals’ charts to doing charts for multinational corporations and even some of the wealthiest people in Malaysia. He is also the bestselling author of over 50 Chinese Metaphysics books and even hosted his own television show on feng shui! As a result of his considerable skills, Joey became a millionaire at the tender age of 26, a fact which he brushes off with the words “It’s no big deal!” Joey summarises his wealth by saying, “I’m glad I don’t have financial problems!”

$ Joey is an avid watch collector, and has about 7 watches, which range in the RM90,000 region. Each.
$ Joey doesn’t like to drive, and recently purchased a BMW 7-series (to be driven in).
$ He doesn’t believe in just throwing money away, although he does sometimes spend to make himself happy and to expand his business.
$ He only travels business class or first class 
$ He confirms that it feels good to wake up and think, “I can go anywhere – if I want to go to Paris today, I can!” Although he professes that he doesn’t really have the time.
$ Most of his money is spent on business-related investment-linked properties. He is rumoured to have more than 50.

Nazreem Musa
21, Creative Director of Musa Fashion & Cafe

The sweet and friendly Nazreem Musa has always been into fashion. Something he picked up from “taking in a lot of cool stores around the world,” he says. When he studied in Parsons, Paris, he met loads of designers, and had the opportunity to go to fashion houses and see their collections for himself. That’s when he thought, “This is great! I want to bring this back to KL!” It took him a year to plan – he began when he was 20. He started going to Paris Fashion Week, London Fashion Week and Stockholm Fashion Week, where he met a lot of designers and then he divulged his plan to his mum, who said, “Okay, do this yourself. It’s your responsibility.” Nazreem confesses that he found it extremely difficult to convince the designers to let him bring their clothes to Malaysia. Still, he persevered and launched Musa at the beginning of this year, stocked with cult brands like House of Holland, Cheap Monday and Naked & Famous; with Musa Café berthed just next door to the boutique. Asked about the response to his store so far, Nazreem says, “It’s amazing!” He gets asked all the time why he decided to take the plunge at such a young age and says it was because he has always been ambitious, and has learned a lot from being a part of his mother’s multi-industrialist company. As the Managing Director of his mother’s company, Nazreem has his hands full, managing his boutique as well as the business. He sums up his foray into fashion by saying “I love what I do!”

$ He travels extensively, 
keeping in touch with designers and their events, but maintains a low profile in KL.
$ When in Paris, he gets calls from the Chanel store about their latest collection and the staff will typically lay out the mens ready-to-wear collection for him to just pick and choose what he likes!
$ Some people wait for up to a year for their 
Birkin bag, but Nazreem got his in 3 months, after he placed his order in Paris!
$ Nazreem’s fashion favourites: Hermes Birkin bags, Rick Owens footwear and Chanel mens ready-to-wear
$ Nazreem hopes to one day open a gallery where people can come and see his vintage collection of clothes, accessories and shoes.
$ Nazreem is also a fur lover and has a sizeable collection of furs
$ He is an acclaimed dancer and danced alongside Shah Rukh Khan in the movie, Don.

Miley Cyrus
18, Hannah Montana Actress & Singer

"It’s a long ride to the top, but only a short ride down."

Miley Cyrus is one wealthy teenager! After auditioning and successfully convincing producers of the Disney show, Hannah Montana, to cast her in the lead role (they thought she was too young), she went on to become a breakout star! Hannah Montana premiered to the highest audience ever for a Disney show, and is still raking in the big bucks. Miley’s first tour Best of Both Worlds was a massive success, with tickets selling out within minutes! Her subsequent album Breakout, debuted at No 1 on the Billboard 200 and her turn in Hannah Montana: The Movie basically launched her acting career as well. Now that she is 18, Miley has shed her sweeter-than-sugar image, and her latest album Cant Be Tamed is a reflection of her turnaround. She’s also reportedly said that she would like to take a break from singing to concentrate on acting. Following the success of her latest movie The Last Song (despite poor critical reviews), she is definitely on the right track. Miley may be only 18, but last year alone, she raked in a mammoth USD48 million (RM153 million) and is ranked No 13 on Forbes Most Powerful Celebrities list! Aside from being possibly the wealthiest teen on the planet, Miley is also in the running to become the world’s youngest billionaire, and could potentially edge out Mark Zuckerberg, the Facebook founder.

$ Miley Cyrus reportedly spent USD24,000 (RM76,000) on hair extensions, made from human hair imported from Italy and dyed to match her hair colour!
$ Miley recently purchased a USD3.4 million (RM10 million) mansion in Toluca Lake, California, which apparently has its own recording studio!
$ For her 16th birthday, she bought herself a USD75,000 (RM239,000) Mercedes CLK 550 Cabriolet.
$ She reportedly plonked down USD3,000 (RM9,500) on sexy lingerie.
$ She sometimes wears plain Hanes t-shirts with up to USD60,000 (RM19,100) worth of Loree Bodkin jewelry piled on top!

Ryan Seacrest
35, American Idol Host, Producer
and Radio Host

"Everyone in showbiz is driven by ego, so how do you go from having loads of fame to working at 7-11? You can’t do it!"

Ryan Seacrest is certainly a jack of all trades. He produces the hit reality show Keeping Up With The Kardashians, hosts E! News, is the host of the most highly rated reality show – American Idol, and has his own radio shows as well, On Air With Ryan Seacrest and American Top 40. As a young child, Ryan was obsessed with listening to the radio and counted Rick Dees as one of his idols. “Before I met anyone in this business I was already pretending to be them,” he said. He hosted his school’s radio programme and by the time he was 20, he was hosting KYSR-FM’s Ryan Seacrest for the Ride Home, which became the station’s highest rated show and was syndicated nationally. Ryan went on to host On Air With Ryan Seacrest (available on FlyFm in Malaysia) which is internationally syndicated, as well as American Top 40. In 2002, he became the host of American Idol, which went on to become the highest-rated reality show in America. Ryan recently negotiated a deal which pays him USD15 million (RM47 million) a year for hosting American Idol, making him the highest paid reality host to date! The man with many talents brought in USD51 million (RM163 million) last year and is ranked No 44 on Forbes 100 Most Powerful Celebrities list.

$ Ryan Seacrest bought Kevin Costner’s Hollywood Hills home for USD11.5 million (RM36 million). It has 5 bedrooms, a media room, billiards room, gym, pool, spa and staff quarters!
$ At a recent dinner at the high-end Billionaire Club in Sardinia, Ryan Seacrest allegedly picked up the tab for fellow diners, 
at a whopping USD41,000 (RM131,000) and reportedly left a USD10,000 (RM31,000) tip!
$ Ryan Seacrest bought a stake in his radio show, On Air With Ryan Seacrest
$ He has an Aston Martin DB9, valued at USD200,000 (RM639, 000)