Saturday, September 30, 2023

Best Omakase In Town - Sushi Foo

 


Have been following Chef Foo for some time now. Used to operate next to Pavillion Bukit Jalil but that shop opened at the same time when Covid started, so his business partner did not manage to hold on to the business. Now he has come full circle, with more equity, his own personal place.



For omakase, it is an overused term and concept. You are only getting produce the chef has ordered, so his links to suppliers (esp from Japan) is critical. Good Japanese food is not cheap.





That is why I don't get hung up with celebrity Japanese chefs. Next time you have an omakase or go to a famous sushi place, ask yourself, what are you paying for. Your RM400-1,000 has to pay for the expat chef's salaries, location, rental, service staff, etc. and after that produce.


(the salmon roe aged 5 days)





Chef Foo has garnered enough fans and followers to open at a 'dislocated' location because he is not going after walk in traffic. People will search for his place ... save a lot on rental. 




(early appetiser, ebiko, fresh prawns, uni, topped with lavender petals)




You go to a 800-1,200 pp place with a famous name and famous Japanese chef, you are probably getting 200-300 in produce value. Here omakase ranges from 300-800 and you getting closer to half of it in produce value.



(shima aji luxury roll with Japanese spring onions, ginger)









He is knowledgeable but is tied to the history of Japanese cuisine strictures. His selection is not tied to Edo (the old name for Tokyo) style sushi or Kansai-style sushi. Still, he has a deep respect for the cuisine and does not step much into the crazy Western style where fusion and almost anything goes. 


(huge hotate, grilled lightly)









I can't post all the things I had ... maybe 75%.



(the under-rated sardine)




(pomfret)



(this starter was superb, a chawanmushi with crab meat and lightly cooked cod sperm duct, easily the best way to eat the cod duct)



(the proverbial sake... served cold of course)



(Kyushu oysters, small but deep tasting)


(the XXXXXX, otoro aged 20 days ... like eating 3 otoros but no jelak feel)


(okagai with sea grapes)


(I think it is monkfish liver with crab meat, sumptuous)


(the sashimi pair ... kinki fish, great oils... but its the smoked Spanish mackeral that takes the centerstage, we all immediately tasted the best of peatiness/smokiness of Lagavulin and Laphraiog enveloping the fish... gawd, would have been sublime to chase this with a shot of Laga)




(we kept asking for his home made pickled ginger and cucumber to be topped up)


(we liked the previous uni/prawns/ebiko so much ... he gave us another, this time with sushi rice at the bottom)



(the subtle chutoro)


(he dragged his prized possession to show us, the 20 day aged toro and otoro)



(the silkiest cut of kampachi served with bamboo salt)

(the aged otoro)



It is silly to try and call it the best, what I am trying to get at is the selection is often top notch and the cuts are generally premium cuts. There's enough interesting and hard-to-get stuff that serves as a greater charm to the whole meal.


They also do lunch sets, glorious ones too. Seating is limited to less than 15. Book before coming.









Friday, September 08, 2023

Grumpy Old Man Syndrome


Sometimes we stereotypify something because we can see them in substantive numbers but we may not understand why they occur. Grumpy old men ... we all have more than our share of experiences with our fellow man. 

For women, we have had a lot of attention and research into the period when a woman goes into menopause. Hormone replacement therapy was a wonderful discovery for all humankind. We know that women lose a lot of the necessary hormones to be normal and hence many has to have some form of hormone replacement therapy.

Not a week goes by that I am not asked about testosterone levels. Especially one of the following questions:

—”How can I raise my testosterone?”

—”Can supplements actually boost testosterone?”

—”How do I know if I have low testosterone?”

The questions are endless. Testosterone is a hot marketing area for men, that strikes at the core of machismo and male health. Attach testosterone to any product with some hyperbole, and you can market it effectively.

http://andropausesuccor.com

But truth be told, testosterone levels are critical for male health. Low testosterone causes:

Low energy
Low sex drive
Low strength
Anxiety, depression, and general lethargy
There are no advantages to having low testosterone. Zero. Nada. In fact, hypogonadism (which is when your body is not producing enough testosterone) is linked to:

Alzheimer’s disease
Dementia
Cardiovascular disease
Recent research even points to low testosterone being a precipitating factor for prostate cancer.

With all this in mind, it’s concerning that testosterone levels have been dropping in men worldwide for decades.

The reasons for this are legion:

Environmental endocrine disruptors, plastics, contaminants; lack of sunlight and solar radiation; lack of key micronutrients, skewed diets; lack of exercise, lack of sleep, increased stress; the list is long.

And this drop in testosterone is not only seen in humans, but animals as well. Across the world, environmental pollutants are affecting animal life and disrupting sex hormones.

The pragmatic reality is this:

Our environments and lifestyles do affect our bodies. And many men are slowly castrating themselves through their lifestyles.

Increasing your testosterone levels, and thus your general vitality, should be of paramount focus for all men.

High testosterone levels are a representation of overall good health.
http://andropausesuccor.com

You have everything to lose and nothing to gain by ignoring your hormone levels.

How come there is no therapy for men when we age?

Just looking at an average old man of 70-80 years. You know very well he will have some or most of the following problems due to normal aging (I haven't gone into specific diseases such as diabetes, heart issues, cancers, etc.):




- Slackening memory

- Osteoporosis

- Knee and ligaments issues

- Mood swings and irritability

- Loss of muscle mass

- Loss of strength 

- Virtually no production of sperm by testes

- Bladder control issues

- Loads of visceral fats

- Prostate issues

- Height loss

- Almost no more erections

- Very low libido and sex drive

- Possible depression
- Scalier and drier skin

- Decreased body hair



The sad truth is that the majority of men will go through their aging process from 40-50-60-70-80 with nary a word or care and just shoulder along. ALMOST ALL OF THE PROBLEMS CITED ABOVE HAS TO DO WITH THE LOSS OF TESTOSTERONE and NOT CARING.

What Can You Expect By Taking Andropause Succor

1-2 weeks:  

Better quality erections (hardness and ability to stay up longer)

More energetic and positive

Higher libido (sex drive)

Heightened metabolism

Less irritability and mood swings

Better quality sleep

More motivated and focused



Longer Term:   Stops hair loss

                      Less visceral fats

                      Retention of muscle mass

                      Better joints strength

                      Reduction in bone loss and danger of having osteoporosis

                      Elevated testosterone

                      Higher sperm count

                      Less lethargy and better temperament

Aging is inevitable but when there are sufficient research and science behind to remedy the situation, much like Hormone Replacement Therapy for women, we should take it.

By maintaining a sufficiently high testosterone level, we will age more gracefully and be active and have the strength to do more of the things we love.

ANDROPAUSE SUCCOR has formulated a largely herbal supplement to reverse the effects of low testosterone and more. Addressing anti-inflammation is a requisite platform to boosting overall health besides just raising testosterone for men.

You could be looking like someone like this on the left when you are 70-80. It's a choice.


Sunday, September 03, 2023

The Country Garden Factor In Forest City Revitalisation Plan

Forest City is a US100bn project. Country Garden supposedly holds a 60% stake with the rest by Esplanade Danga 88 (held by Johor state interest and the Sultan of Johor. CG missed two coupon payments totaling US22.5m last month.

- Resale prices have plummeted. Units were launched and sold in 2020 for around RM1,200psf. The resale market is being done at around RM500-550psf currently.

- The venture envisages accommodating 700000 residents in waterfront apartment towers on four man-made islands spanning 30 sq km (11.6 square miles) between Malaysia and Singapore. Only 9,000 people live in Forest City despite having 28000 residential units completed thus far.

- The concept and execution looked good on paper. CG with a top-rate brand, and many Chinese would like to somehow "transfer out" their wealth and exposure overseas - thus making Forest City an easy sale. That has been thrown out the window with the sharp downturn in China's own property market. Beijing, in order to stop public funds from going offshore (capital controls), has literally made it impossible for most Chinese to buy overseas' properties. CG is stalled and the buying from China has too.

- The pandemic only exacerbated the situation. Forest City was initially approved at the state level (where most land use decisions are made) even as the project skirted national environmental regulations. Eventually, the project developer was forced to address both national and even international concerns over the project. Local stakeholders, including coastal residents, fishermen, and environmentalists, played an important role in drawing media attention to the project. Singapore also voiced its objections, and knowing Singapore is a key player in the equation, a lot of work has been spent rectifying the concerns.

- If CG undergoes liquidation, no amount of incentives will be able to lift Forest City - it will have to undergo a long process of verification and tabulation. Residents would have to undergo an administrative process to submit proof to liquidators that they are indeed the rightful owners. CG would have to realize all its assets including shares it holds with its subsidiary companies in Malaysia, and that will include the developer of the Danga Bay project – Country Garden Danga Bay. If Country Garden Danga Bay is liquidated, residents who do not already own their strata titles might be forced to show proof that they are indeed the owner of the unit.

That's the gist of it, on the negative side.


Present Times

At present, CG has two main developments in south Johor – the US$100 billion (RM465 billion) Forest City flagship mega-development and the popular Country Garden Danga Bay on reclaimed land that has a gross development value of US$18 billion (RM83.7 billion). The developer also has a third project in Johor Baru called Central Park, which is still under development. The project is scheduled to be completed by next year and is valued at US$990 million (RM4.6 billion).

Bank Negara said that banks incorporated in the country had limited exposure to Country Garden, and added that the company’s Malaysia unit was servicing loans promptly. Bank Negara Malaysia told Reuters in an e-mail: “The current development with Country Garden Holdings Ltd in China is not expected to pose any material impact on the overall property market activity and prices in Malaysia.”


Interesting Points To Consider

a) Forest City is the largest international property venture for CG. They will try to shutter everything else before they touch Forest City. If Forest City is stopped by CG, that can only mean that the company is going under liquidation.

b) The ECRL (East Coast Rail Link) is considered part of China's Belt & Road initiative (thus making it a more important factor than usual). While the KL-Johor HSR is not exactly part of that initiative, it is also considered vitally important in terms of linking right down to Singapore.

c) Not to mention the numerous projects that China has a vested interest in in Malaysia, Malaysia is a crucial political ally in making sense of the sea rights in the South China Sea. Thus making Forest City not only a CG problem but one with greater ramifications to both countries.

d) The governments of Johor and Singapore are also discussing the possibility of launching further ferry services and will study the sustainability of a prospective new route between Puteri Harbour and Tuas. Unlike the already congested Johor Bahru city center or the area surrounding the causeway, the Second Link area has lots of land banks as well as well-developed infrastructure and facilities. Furthermore, it is close to a large seaport, the Port of Tanjung Pelepas, and the intended Kuala Lumpur-Singapore High-Speed Rail (HSR) station may be relocated to Gerbang Nusajaya (as it was previously planned).


In Closing
: CG is a very important factor in trying to revitalize and complete Forest City. Our government can do all the tax reductions and easy access plans, but if CG folds, it will add another 10 years of being in the wilderness for the project.

Hence, the newsflow on CG is of utmost importance. Their viability and the timing of the recovery in China's property market need to be closely followed. 

Following the recent issue of CG not paying the USD22.5m coupon on a couple of bonds, the world was watching to see if the creditors would grant an extension. This was critical in buying time to wait for the recent Beijing measures to pump up buying in the property market to come to fruition.

The X Factor: Country Garden had delayed a deadline for creditors to vote on whether to postpone payments for an onshore 3.9 billion yuan (USD537 million) private bond last Friday at 1400 GMT, as it strives to avoid default. On Saturday, Country Garden won approval from its creditors to extend the payments to 2026, a major relief for the developer and the entire sector.

While Country Garden's liabilities are only 59% of those at Evergrande, it has 3,103 projects across China, compared with around 800 for Evergrande - making the company matter to systemic stability while also fueling contagion fears as it shows signs of financial stress. The contagion effect means Beijing would pull out all stops to ensure CG not only survives but thrives. For now, the Chinese authorities are scrambling to introduce a string of measures, including mortgage rate cuts and an easing of home purchase restrictions, to revive the property market and prop up the sputtering economy.


How Bad

Country Garden's total liabilities were about USD194 billion. It faces 108.7 billion yuan (USD14.9 billion) worth of debts due within 12 months, while its cash levels are around 101.1 billion yuan.

I strongly expect Beijing to come in with a huge injection of capital to CG very soon. Go to liquidation? Silly... what happens when they start to auction off the landbanks of CG - the ramifications are too dire. Imagine the banking loans writedowns, the domino effect on other property players, the polarising disgruntlement among the property owners with loans facing negative equity, the land auctions which will bring down sentiment and land holding asset values even further ...

Hence, overall I see an 80% chance of Beijing coming in to save the company. Judging by the USD14bn loans due within 12 months, it is likely a Beijing-led rescue will come before the year is over for I cannot see them being able to convince another group of creditors to delay/extend the loans. This is a good thing for all the property counters presently rallying around the new measures for Forest City. The related parties just have to get out the details and execute ASAP (Federal, MOF, EPA, Johor state government, Singapore government, visas, MNCs actually moving, implementation details on tax rates, HSR, ferry, etc.)

Do you have any idea how big the rally will be (for Forest City linked counters)  IF/WHEN Country Garden gets the capital injection rescue???