Difference Between Mortgage Loan And Reverse Mortgage Loan

Mortgage means to place collateral. Therefore, mortgage loan in home loan industry is the loan taken against the property pledged as collateral. The mortgage loan is beneficial in comparison to other instant loans such as personal loan and business loan because of its rate of interest, processing fees, foreclosure charges & closure conditions, etc. Also referred to as Loan Against Property, a mortgage loan is taken to meet the personal fund requirements such as children education, child marriage, medical treatment, business expansion, etc. The mortgage loan by lender Bank/NBFC/HFC is provided only to those borrowers who has a regular flow of legal income and is within the maximum retirement age 60 years. As a result, the senior citizens were excluded from taking the mortgage loan. Hence with the view of extending the benefits of mortgage loan to the elderly the Union Government of India introduced the concept of Reverse Mortgage allowing them to borrow the funds through property mortgage, to meet their financials requirements of day-to-day expenses and increasing cost of medical treatments.

Difference between Mortgage Loan & Reverse Mortgage Loan

Sr. No.

Mortgage Loan

Reverse Mortgage Loan

1

Meaning

A mortgage is a type of secured loan as it is secured against the collateral provided. The collateral means pledging of property to obtain the loan.

Loan for senior citizen above 60 years to avail regular/periodical payments from Banks/ NBFC against the mortgage of their house while still retaining the ownership of the house and occupying the same.

2

Who Can Apply

Salaried and self employed individuals.

Retired, senior citizens above 60 years.

3

Purpose

Can be used for children education, child marriage, business expansion.

Can be used only meeting the livelihood expenses and medical expenses.

Can be used for purchasing another property.

Cannot be used for any investment or purchasing property.

4

Property Type

Ownership residential as well as commercial property can be mortgaged.

Only ownership residential property can be mortgaged.

No commercial property is allowed.

5

Property Ownership

Ownership transferred on ancestral property as well as property with gift deeds can be considered.

Ancestral property is not considered. Senior citizen must possess a self acquired and self owned or jointly owned property with the spouse.

6

Residential Life Of The Property

5 years – 50 years. Above 50 years structural audit report is mandatory.

Should not be less than 20 years.

7

Providers

All banks and NBFCs.

Only selective nationalized banks and few private banks.

8

Age Limit

Salaried – up-to 60 years

Self-employed – up-to 65 years

Senior citizen above age of 60 years.

9

Eligibility

Must have regular monthly income flow.

Does not require any Income.

10

CIBIL

CIBIL score of minimum 750 and above is required.

Does not require any credit score requirement.

11

Loan Tenure

Maximum 15 years.

Minimum 10 years till lifetime of the borrower’s age.

12

Loan Disbursement

Full Disbursement of loan amount. No partial Disbursement.

The loan can be provided through monthly, quarterly, half yearly or annual disbursements or as a lump-sum or as a committed line of credit or as a combination of the three.

13

Loan Limit

No capping on the loan amount.

Maximum loan limit has been capped to 50 Lakhs – 1 Crore.

14

Processing Fees

0.40% – 1.5% of the loan amount.

0.50% of the loan amount.

15

Interest

Interest is charged on the total principal and is paid up-front with the principal in equated monthly instalments.

Interest is charged only on the principal amount taken and the interest is rolled to the principal amount, which is payable on loan closure.

16

Rate On Interest

Base rate + 1% – 2%.

Base rate + 2.75 % – 3%

17

EMI

Consists of Principal + interest amount.

There are no such EMI.

18

Repayment

Repayments are made via EMI throughout the loan tenor OR when borrower willingly pre-closes the loan.

Loan + interest become payable only when the borrower sells the house or moves away permanently or when the last surviving borrower dies OR when borrower willingly pre-closes the loan.

19

Foreclosure Charges

No pre & part payment charges on floating rate of interest.

Closure charges of 2% – 4% on the loan amount for fixed interest rates.

No pre-payment charges.

20

Tax Benefits

Tax exemptions is applicable only on interest paid:

  1. a) End-use is for business purpose- interest can be claimed as business expenses under section 37 (1).
  2. b) End-use for purchasing house or home renovation or repairs interest can be claimed under section 24(b).
  3. c) End-use for personal reasons, education, marriage, etc – no interest exemption.

Note: Important documents must be maintained to authenticate and justify the end-use of the loan, in order to claim the income tax exemption on interest.

All payments under reverse mortgage is exempt from Income Tax, under section 10(43).

If the bank sells the property, borrower become liable to pay the income tax on the capital gain derived on selling the property.

Also, the annuity income in the hands of the borrower is taxable.

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“Woofstock” dog festival in Toronto, Ontario, Canada

Tuesday, June 12, 2007

North America’s largest outdoor dog festival came back to Toronto last weekend for its fifth year. It ran from the 9th of June to the 10th of June at Toronto’s historical St. Lawrence Market. A Wikinews reporter was there on Sunday to report on some of the events that happened on the last day.

The “Woofstock” dog festival attracted as many as 140,000 people with their dogs. The festival had tons of accessories, sold under tents, to buy for dogs; food, toys, designer clothes, and more. About 400 vendors and exhibitors were there to promote their products, which also gave private dog companies or groups a chance to show their new products. The local SPCA and some animal rescues were under tents answering questions from visitors. While walking, all visitors could see the CN Tower and other very tall buildings.

One of the local TV stations, Citytv, was there. They hosted a live event at the show which was broadcast on TV. People came up on the stage and asked questions regarding their dogs and the host and co-host answered them.

A man, who called himself the “Chalk Master”, drew two pictures on pavement with chalk. He did it for free but donations were welcome. One was a picture of a girl’s head beside a dog’s head, and another with a wolf.

“Hello Humans. I’ve been invited here to provide your eyeball(s), with some pretty colours. I don’t get paid as I work this weekend strictly for tips… so, if you like what you see please make a DONATION. If you don’t like it simply reach into the pocket of the person next to you and give me their money. CHALK MASTER.”

A contest called “Canada’s top dog” had its own tent with a professional photographer taking pictures of dogs behind a white screen; the winning photo is to be published on the cover of “Puppy and dog basics” magazine.

Large “Gourmet” dog bones were also served from a cart and table.

Next year’s festival is expected to be bigger and better with even more attractions.

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China executes nine for ethnic riots

Monday, November 9, 2009

China has executed nine people for taking part in July’s ethnic unrest in the western city of Ürümqi, according to a local state news agency.

The official Xinhau news agency reported that the nine were the first of those convicted in the riots to be executed. It said the sentences were carried out with the approval of the country’s supreme court; however, it was not immediately clear where the executions were carried out.

Violence erupted in the Xinjiang regional capital of Ürümqi on July 5, after Uighurs protested the deaths of two Uighur factory workers in a brawl with Han Chinese in southern China’s Guangdong province.

Uighurs said the protests turned violent when police cracked down on the rally. Protesters then attacked ethnic Han people in the regional capital. Two days later, Han Chinese staged revenge attacks. Nearly 200 people are believed to have been killed, but the official toll is much lower.

At least 21 people have been sentenced in connection with the Ürümqi riots, in crimes ranging from murder to arson, robbery, and destruction of property. Twelve people have been sentenced to death.

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Too Grimm? Mother Goose cartoonist sued by Colombian coffee growers

Sunday, January 11, 2009

While it was just a joke, the Federación Nacional de Cafeteros de Colombia doesn’t find a recent “Mother Goose and Grimm” comic terribly funny.

In what the coffee growers association calls “an attack on national dignity and the reputation of Colombian coffee,” the characters in a comic strip by Pulitzer Prize-winning cartoonist Mike Peters call into question the relationship of Colombian coffee growers and the crime syndicates of Columbia.

The cartoonist is being sued not only for “damages [to] the intellectual heritage” of the coffee, but also “moral compensation. A public manifestation,” to the tune of $20 million.

At the start of a week-long series of strips, a dog character named “Ralph” finds out that part of chemist and food storage technician Fred Baur‘s remains was buried in a Pringles can, upon his last wishes. Baur’s best known innovation, among multiple, was the patented can and packing method for the Pringles potato chip. The character theorizes what other remains might be interred in their food packaging. Eventually, the dog states that “when they say there’s a little bit of Juan Valdez in every can, maybe they’re not kidding.”This play on an old advertising slogan refers to fictional character Juan Valdez, created by the Federación Nacional.

In a statement Peters says:

I had no more thought to insult Colombia and Juan Valdez than I did Pringles, Betty Crocker, Col. Sanders, Dr. Pepper and Bartles & Jaymes. The cartoon is meant to be read along with the rest of the week as a series of which the theme is based on the fact that the inventor of the Pringles can had his ashes buried in one.

I thought this was a humorous subject and all of my Mother Goose & Grimm cartoons are meant to make people laugh. I truly intended no insult.

Julio Cesar Gonzalez, El Tiempo newspaper’s famous cartoonist, told the BBC that the lawsuit is “a real waste of time.”

In 2006, the Federación Nacional sued Café Britt over their advertising campaign titled “Juan Valdez drinks Costa Rican coffee. In a counter-suit, Britt presented an affidavit from a Costa Rican man named “Juan Valdez”, acknowledging that he drinks Costa Rican coffee, and that the name is too generic to be exclusive. A variety of legal challenges and charges from both sides were eventually dropped. The phrase was actually first used in a 1999 speech by Jaime Daremblum, then-Costa Rican ambassador to the United States.

Mother Goose and Grimm appears in over 800 newspapers worldwide; Peters has won the Pulitzer for his editorial cartoons for the Dayton Daily News. Thirty years ago, his editorial cartoon about electricity prices featured Reddy Kilowatt, an electricity generation spokescharacter. The Daily News defended that comic image in the United States Supreme Court, winning on the basis that “the symbol was not selling a product”, and thus the satire was legally permissible.

Peters drinks Colombian coffee.

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Dog Food Scores To Help You Discover The Healthiest Meal On Your Dog

Dog Food Scores to Help You Discover the Healthiest Meal On your Dog

by

Clint Gampong

A dog\’s weight loss plan must include a mixture of contemporary, wholesome ingredients. To put together the full impact and preserve your dog\’s health, quite a few testimonials and dog food scores show that although clean food is undoubtedly greatest, ultra top quality packaged dog food may very well be the approach to go. Your dog will get fewer fillers, preservatives and grains from ultra high quality dog meals. The dog food brand name that you opt for might have a huge value to how balanced your dog stays around its lifespan.

Right after considering a number of dog food rankings, the consensus is always that Honest Home dog food could possibly be the top around the market. Straightforward Kitchen area makes use of person\’s-grade ingredients, which will appeal additional in your dog although supplying greater nutrition. The ingredients checklist consists of chicken, organic flaxseed, potatoes, celery, apples, kelp, zucchini, natural beans, yoghurt, basil, garlic, and more.

[youtube]http://www.youtube.com/watch?v=E96EbDtMptU[/youtube]

An additional encouraged dog food which is outlined toward the high of numerous dog food scores is Sojos. As with Honest The kitchen area, Sojos contains no animal by-items, and actually contains no meat merchandise in any way. With Sojos, you get every one of the wholesome ingredients minus the meat, and you also add your individual refreshing meat.

By-products will be the other parts to family pets that are still left around instead of utilized by humans for food. If it is possible to, try and remain absent from by-products within just your dog\’s food to maintain their health and fitness. Having said that, numerous dog food manufacturers do placed by-products in their food.

Though Honest Cooking area dog food and Sojos dog food are amongst the best dog food manufacturers, they\’ll seem pricey. But points will not be constantly as they appear! Due to the fact these premium dog food incorporate high quality ingredients and no fillers, you\’ll need a smaller amount. So there may be extremely little distinction in value for each serve in between these vastly superior quality dog meals and their rubbishy business counterparts. And what tiny distinction there\’s – isn\’t your dog price just somewhat excess to keep him/her ultra wholesome? And your dog will reside for a longer period, much too.

After you get started procuring in your dog food, remember that a combination of wet and dry food is ideal for most canines. You will find a huge assortment of dog food brands to confuse the prevalent shopper, but in the event you\’re prepared to expend just a bit more money, dog food ratings indicate that

Trustworthy Kitchen dog food

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ArticleRich.com

US toy retail giant Toys R Us files for bankruptcy in US, Canada

Thursday, September 21, 2017

On Monday night, New Jersey, US-based toy retail giant Toys R Us filed for bankruptcy in the US as well as in Canada. The retailer filed it from Richmond, Virginia for Chapter 11 bankruptcy code in the US, and a judge allowed a loan of over US$2 billion.

According to the filing, the retail chain owns US$6.6 billion in assets, but has a debt of US$7.9 billion. They were under a roughly US$5 billion debt since the company underwent a three-way acquisition in 2005. Kohlberg Kravis Roberts, Bain Capital, and Vornado Realty Trust acquired Toys R Us for around US$7 to US$7.5 billion. After the US judge approved a loan, Toys R Us received about US$3 billion from the lenders to continue the business and survive a competitive market, and restructure their business model. E-commerce giant Amazon.com, Walmart and Target are some of the competitors for the conventional ‘brick and mortar’ toy shop, with lower priced-merchandise and fast, cheap delivery. In a conference call in June, CEO Dave Brandon said “very, very aggressive pricing online” was causing problems. He also said the company was experiencing “significant weakness in demand for their products globally”. Toys R Us are to clear a debt of US$400 million by May 2018.

Toys R Us said they would continue to operate for the holiday season. Bankruptcy lawyer Jeff Gleit said Toys R Us “need to do both a financial restructuring as well as an operational restructuring” and “needs to modernize with the times”. Last holiday season, Toys R Us made sales around US$4.5 billion. Overall, the company reported a US$29 million loss in 2016. CEO Brandon said, “Our objective is to work with our debt holders and other creditors to restructure the US$5 billion of long-term debt on our balance sheet, which will provide us with greater financial flexibility to invest in our business”.

Toys R Us employs more than 60 thousand people in 38 countries around the world in more than 1600 stores. The company’s stocks fell by six percent after filing for Chapter 11 protection. US bankruptcy code Chapter 11 allows the company to restructure under a plan approved by the court. The company would also be shielded from creditors’ claims during the process. For the stores located in Canada, Toys R Us filed bankruptcy in Ontario and are to undergo reorganisation. However, 259 stores located outside the US or Canada will not undergo reorganisation, the company said.

Over 300 US-based retailers have filed for bankruptcy this year, and hundreds of stores closed.

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Sweden’s Crown Princess marries long-time boyfriend

Monday, June 21, 2010

Sweden’s first royal wedding since 1976 took place Saturday when Crown Princess Victoria, 32, married her long-time boyfriend and former personal trainer, Daniel Westling, 36. The ceremony took place at Stockholm Cathedral.

Over 1,200 guests, including many rulers, politicians, royals and other dignitaries from across the world, attended the wedding, which cost an estimated 20 million Swedish kronor. Victoria wore a wedding dress with five-metre long train designed by Pär Engsheden. She wore the same crown that her mother, Queen Silvia, wore on her wedding day 34 years previously, also on June 19. Victoria’s father, King Carl XVI Gustaf, walked Victoria down the aisle, which was deemed untraditional by many. In Sweden, the bride and groom usually walk down the aisle together, emphasising the country’s views on equality. Victoria met with Daniel half-way to the altar, where they exchanged brief kisses, and, to the sounds of the wedding march, made their way to the the silver altar. She was followed by ten bridesmaids. The couple both had tears in their eyes as they said their vows, and apart from fumbling when they exchanged rings, the ceremony went smoothly.

Following the ceremony, the couple headed a fast-paced procession through central Stockholm on a horse-drawn carriage, flanked by police and security. Up to 500,000 people are thought to have lined the streets. They then boarded the Vasaorden, the same royal barge Victoria’s parents used in their wedding, and traveled through Stockholm’s waters, accompanied by flyover of 18 fighter jets near the end of the procession. A wedding banquet followed in the in the Hall of State of the Royal Palace.

Controversy has surrounded the engagement and wedding between the Crown Princess and Westling, a “commoner”. Victoria met Westling as she was recovering from bulemia in 2002. He owned a chain of gymnasiums and was brought in to help bring Victoria back to full health. Westling was raised in a middle-class family in Ockelbo, in central Sweden. His father managed a social services centre, and his mother worked in a post office. When the relationship was made public, Westling was mocked as an outsider and the king was reportedly horrified at the thought of his daughter marrying a “commoner”, even though he did so when he married Silvia. Last year, Westling underwent transplant surgery for a congenital kidney disorder. The Swedish public have been assured that he will be able to have children and that his illness will not be passed on to his offspring.

Westling underwent years of training to prepare for his new role in the royal family, including lessons in etiquette, elocution, and multi-lingual small talk; and a makeover that saw his hair being cropped short, and his plain-looking glasses and clothes being replaced by designer-wear.

Upon marrying the Crown Princess, Westling took his wife’s ducal title and is granted the style “His Royal Highness”. He is now known as HRH Prince Daniel, Duke of Västergötland. He also has his own coat-of-arms and monogram. When Victoria assumes the throne and becomes Queen, Daniel will not become King, but assume a supportive role, similar to that of Prince Phillip, the husband of the United Kingdom’s Queen Elizabeth II.

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GM and Chrysler receive Canadian loans amid US restructuring ultimata

Friday, April 3, 2009

General Motors (GM) and Chrysler will receive bridge loans from the government of Canada and the provincial government of Ontario, however no more will be forthcoming from either Canadian or US governments unless the companies can reinvent themselves.

“This is a regrettable but necessary step to protect the Canadian economy. We are doing this on the assumption that we obviously cannot afford either in the United States or Canada a catastrophic short-term collapse.” said Stephen Harper, Prime Minister of Canada.

“We cannot, we must not, and we will not let our auto industry simply vanish. This industry is, like no other, an emblem of the American spirit; a once and future symbol of America’s success,” said Barack Obama, President of the United States. “These companies – and this industry – must ultimately stand on their own, not as wards of the state.”File:Sinsheim quer.jpg

Chrysler will receive CA$1 billion and may in fact be eligible for as much as CA$4 billion. If Chrysler succeeds in the next 30 days with a restructuring plan it would be eligible for a US$6 billion loan. A part of Chrysler’s restructuring plan must include a partnership with Fiat within 30 days to appease the US administration. Fiat is a supplier of smaller fuel-efficient vehicles, and the merger will help Chrysler to be viable in the North American market. A Chrysler court bankruptcy would inevitably lead to it being sold off.

As a part of Chrysler’s restructuring plans, Tom LaSorda, the president of Chrysler announced that Canadian operations would fold if it does not receive both the US commitment of $2.3 billion of aid and a new Canadian Auto Workers CAW contract to reduce all-in costs by CA$19 per hour. As a result of this announcement Chrysler’s auto sales volume in Canada dropped 23% compared to March of 2008.

GM has until the end of May to restructure its company to receive up to CA$7.5 billion. As part of the companies restructuring, General Motor’s chief executive Rick Wagoner was replaced Sunday with Fritz Henderson, the current chief operating officer. Henderson spoke out on Tuesday that GM has submitted a restructuring plan which would close five plants, and this may be increased to meet the requirements for financial aid. He is in full compliance with Obama’s auto task force to seek bankruptcy if GM cannot negotiate with their unions, bondholders and others.

GM recently brought forward the “GM Total Confidence” program providing consumer purchase protection for customers who lose their job for economic reasons within the first two years from purchase. As a result of Chrysler’s restructuring announcement in Canada, GM’s Canadian vehicle sales volume fell only 17.3% compared to 2008, an increase from the previous month.

GM must reduce some of its legacy costs which include its pensions and union health care costs. A part of GM’s ailments arose from investing in supplying truck and SUVs during an economy of high gas prices when consumers were demanding fuel efficient vehicles.

Tony Clement, Canada’s Minister of Industry, is hoping that the CAW will support the restructuring process and re-negotiate their agreement. Whereas a United Auto Workers negotiator has said, “I don’t see how the UAW will do anything until they see what the bondholders will give up.”

The Obama administration is looking toward bankruptcy proceedings for the automakers, “as a mechanism to help them restructure quickly and emerge stronger. [It will] quickly clear away old debts that are weighing them down. What we are asking is difficult. It will require hard choices by companies. It will require unions and workers who have already made painful concessions to make even more. It will require creditors to recognise that they cannot hold out for the prospect of endless government bailouts.” said Obama.

The auto parts suppliers and IT software exporters in India have already been affected by the declining auto sales. GM and Chrysler software contracts provide US$300 to 350 million a year to vendors in India. As well these two major automakers usually award US$1 billion contracts to auto parts suppliers. “We are worried and closely watching the developments in the US to gauge the impact. The decline in auto sales in the US has already hit the order books of Indian suppliers,” said a Delhi auto parts supplier.

“Going forward, the industry will undoubtedly be smaller, but if our efforts are successful it will be viable and it will support good jobs for Canadians,” said Clements.

Betty Sutton, Ohio’s Congresswoman put forward the CARS act which provides a US$3,000 to 5,000 incentive for those who trade in their vehicle for a fuel-efficient car. “It clearly stimulates the economy, and it gets the consumer into the showroom and gets them buying again. But importantly — and this is what I particularly like about it — it really helps the environment quite a bit in two respects.” said William Clay Ford Jr., executive chairman of Ford Motor Co.

Ford Motor Company has not come forward with requests for assistance.

Since December GM and Chrysler have received US$17.4 billion government loans.

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Why In House Call Center Is A Bad Idea}

Why In-house Call Center is a Bad Idea

by

jems hugThe question of a sizeable investment often puts off the business firms into hiring a call center. They feel that an in-house team of answering serviceagents is all they need to get off the block. However, that is a bad idea. There are several reasons why I say so. Let’s list them down here:

1.An in-house inbound call center team would require trained agents. Or, you will have to train them yourself. The process begins with hiring the call center agents. After you have the team on board, you have to train them in the project that they will be working on. They will need a complete training module, from voice training to various other aspects of call center services. If you get a BPO on board, you need not bother with this process at all. It’s the BPO service that will hire, train and get agents to work on your project. The idea is to transfer as much of the non-core work of your business to the business process outsourcing unit.

2.An in-house team doesn’t have the experience of working on varied telemarketing project that a call center would have. BPO agents are skilled in different projects, where they worked for different parameters. That gives them a better understanding of the work that they have to do. Their experience brings down the loss of resources that will come your way in case of in-house teams. The call centers know the obstacles on the way of the project and can suggest ways in which you can bypass those roadblocks. Without this guide, your telemarketing effort may seem prodigal at a time when resources are expensive.

3.Call center agents have a knowledge bank that helps your project. Their knowledge base helps you in the lead generation process. They have segmented data that makes it possible for the telemarketing services agents to target specific demographics. This brings down the number of calls made by the outbound call center team and the sales lead generation is more focused. Come to think of it, clients these days want quality leads instead of many. The goal is now to build up a reliable base of customers. A BPO firm can help you attain that.

4.Answering service is best done by a team of inbound call center agents. They are professional in their handling of customers. They answer and process the queries of the customers and clients so that your business may keep its reputation intact. The loyalty of the customers comes from how your company treats them after they purchase your product/service. If they are satisfied with the BPO service, they will steer clear of rebates and discounts offered by your rivals in the market.

5.You will need to make sufficient investments to set up an in-house call center department. You will need equipment and technology. You will need office space to seat a certain number of BPO agents. You will need to pay establishment costs for that. In short, it will be more expensive than hiring a BPO service firm.

We offer call center support to all business firms. Our BPO price tags are ordered to suit your business needs.

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eArticlesOnline.com}

“PGR4” pre-launch in Taiwan: TOP Drivers’ Derby

Saturday, September 29, 2007

After the launch of “Halo 3” on Tuesday (September 25), Microsoft promoted a brand new Xbox360 racing game “Project Gotham Racing 4” (PGR4) with a friendship match as a “TOP on TOP” competition between Taiwanese World Cyber Games (WCG) PGR3 Delegate You-cheng Liu and “Drift Master of Taiwan” Po-hsiung Chou at YAMAHA MotorTown in Taipei City, Taiwan.

Before the friendship match, Cary Chen (Senior Product Marketing Manager of Entertainment and Device Division, Microsoft Taiwan) show the new features on PGR4 to the press, VIPs, and guests and praised the “PGR” game series with the “Kudos” skill points. He remarked that in the “PGR4”, not only joined new car type and racing motorcycles, but also add Dynamic Weather System feature for the performance of new different type experiences on weathers, driving, and racing lane.

Chen also remarked that PGR series is surely respected because of the racing game competition factor on WCG from 2006. This “PGR” series can realize lots of dreams of players on making some special skills which can’t be done on reality. With the Xbox Live linking, PGR series has successfully made a great achievement.

After the presentation and demos, Microsoft Taiwan held a friendship match. Before the match, Y. C. Liu welcomed P. H. Chou with Chou drove a BMW car to the main entrance. After the entrance, the match started. With the witnesses of VIPs, press, and players, Liu won the friendship match by the turning fault of Chou. Even though Chou wanted to invite Live as a racer in reality after the match, but Liu temporarily declined with his consideration.

Microsoft Taiwan announced that the Chinese Version of “PGR4” will be available on October 5, and welcomed players competing with “I want ‘PGR4’ Helmet!” photo competition. And also, “Yamaha PGR4 Cup – Taiwan Driving Master Championship” will be held and set qualification section in October and final section in December of Information Month in Taipei.

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