Maybank Launches Limited Edition Maybank Manchester United Visa Debit Card

Maybank has announced the launch of a limited edition Maybank Manchester United Visa debit card, in celebration of a 10-year partnership between the bank and the football club. It is available starting from today.

“With a sleek white design, featuring three Manchester United players, the limited edition cards are only available in 50,000 pieces for new or existing cardmembers on a first-come first-served basis,” Maybank announced in a Facebook post. Football fans will recognise the three Manchester United players featured as Christiano Ronaldo, Jadon Sancho, and Paul Pogba. Meanwhile, an image of the Old Trafford Stadium sits in the background as a tribute to the home ground of the Manchester United football team.

In comparison, here’s how the regular Maybank Manchester United Visa debit card looks like – with the fees and charges, as well as benefits of both the regular and limited edition cards remaining the same:

While the limited edition debit card is open to new and existing Maybank Manchester United Visa debit cardmembers, the process to obtain the card differs quite a bit for the two groups. Existing cardmembers are allowed to conveniently replace their cards online via Maybank2u, where they can simply log in and request for a replacement under Settings > Cards > Manage Debit Card > Replace Card. The new card will then be delivered to their preferred address.

New and existing savings and current account customers, on the other hand, will need to visit selected Maybank branches to request for or replace their cards with the limited edition Maybank Manchester United Visa debit card. The full list of these branches is as follows:

Maybank Aeon Mall Shah Alam
Maybank KLCC
Maybank Mid Valley
Maybank Queensbay Mall, Penang
Maybank Kerteh, Terengganu
Maybank Aeon Bukit Indah, Johor Bharu
Maybank KL Main
Maybank Bangsar Baru
Maybank Bukit Bintang
Maybank Damansara Utama
Maybank Petaling Jaya Main
Maybank Shah Alam Main
Maybank Penang Main
Maybank Kuantan Main
Maybank Johor Bahru Main
Maybank Kuching Main
Maybank Sibu
Maybank Melaka Main
Maybank Kota Bharu
Maybank Alor Setar
Maybank Jalan Sultan Idris Shah, Ipoh
Maybank Jalan Perpaduan
Maybank Kuala Terengganu

The launch of this limited edition debit card design is actually the latest sub-campaign to be announced under a more extensive
Maybank-Manchester United 10
th
 Anniversary campaign
, which is ongoing until 2022. Among some other promos that are also provided via this umbrella campaign include a 10x TreatsPoints and a 10% cashback offer for Maybank Manchester United Visa credit cardholders.

(Source: Maybank [
1
,
2
])

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About THE AUTHOR

Alex Cheong Pui Yin

Alex Cheong Pui Yin

Previously covered recruitment-related stories and had a short stint as a copywriter for the property industry. She subsequently developed an interest in investment and robo-advisors.

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    asd

    1 year ago

can i replace my basic debit card to this limited edition ?

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    Pang Tun Yau

    1 year ago

    Reply to

        asd

I believe you can, but you need to head to a Maybank branch listed in the article above to do so.

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    Wilson

    1 year ago

How do I know if I’ll get the card? I’m an existing Maybank cardholder but when I went settings to replace card, there isn’t an option for card choice. What if Maybank decided to send another cherry card.

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    Pang Tun Yau

    1 year ago

    Reply to

        Wilson

From what I understand, the Maybank2u option is only applicable if you currently own the older Man Utd debit card. If you wish to change to the new one, you will need to go to one of the branches.

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    404

    1 year ago

I currently hold the old Man Utd Debit Card. If it is not available, what will i get if i apply through maybank2u?

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EPF: 2.5 Million i-Sinar Applications Approved So Far

(Image: The Edge Markets)

The Employees Provident Fund (EPF) has approved 2.5 million out of 3.88 million applications for i-Sinar under
Category 1
 as at 4 January 2021. The applications involve withdrawals amounting to RM19.62 billion in total.

The first month’s payout, which will amount to RM10.07 billion, will be made in stages beginning 5 January 2021. “A majority of the remaining 1.4 million submissions which have yet to be approved falls under the criteria outlined under Category 2, which will open for submissions from 11 January,” said EPF in a statement.

The fund went on to say that members who fall under Category 2 are advised to start preparing their relevant documents in advance such as official payslips and bank statements for uploading to
i-Sinar online
. According to EPF, 701 applications were not approved due to reasons such as non-matching bank account numbers, applications made on behalf of deceased members, or applications made by members who can actually make withdrawals under the existing facility for those aged 55 years and above.

“The EPF further assures members that the fund has put in place measures to prevent irresponsible third parties or scammers from making fake submissions and posing a danger to members’ hard-earned retirement savings,” the EPF stated. In line with this, members are strongly advised to avoid sharing photos or documents of their i-Sinar submissions or withdrawals on social media, as this could expose them to potential scammers.

(Source:
The Sun Daily
)

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Jacie Tan

Jacie Tan

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Survey: 62.5% Malaysian Small Businesses Received More Than 10% Of Sales Through Digital Payments

(Image: The Edge Markets)

A regional survey conducted by CPA Australia has found that eight out of ten small businesses in Malaysia earned revenue from online sales in 2021. Revealed in the Asia-Pacific Small Business Survey (2021-2022), it also found that 62.5% of these businesses received more than 10% of their sales through digital payments, such as GrabPay, AliPay, and iPay88.

On top of that, many of the small businesses in Malaysia surveyed also showed awareness of the necessity of cybersecurity; 40.1% of local small businesses polled said that they had reviewed their cybersecurity measures in the past six months. Meanwhile, 38.5% of them expect some form of cyber attack on their business in 2022.

In a statement, CPA Australia noted that these findings – along with others in its official report – hinted at the tech-savvy nature of many Malaysian small businesses. It also pointed to their drive to harness technological innovations for long-term growth instead of just short-term survival.

“The findings are indicative of a new generation of entrepreneurs who are tech-savvy, innovative, and eager to promote what their business has to offer, both to the region and the world,” said the chairman of the Malaysian digital transformation committee for CPA Australia, Bryan Chung, adding that Malaysian respondents in the survey were typically younger, with 55.9% aged under 40 years old. This is in comparison with the survey average of 45.2%.

Furthermore, Chung said that the findings of Malaysia’s innovative culture are encouraging as compared to small businesses in several other Asia Pacific countries where the survey was also conducted. These include Singapore, Hong Kong, Taiwan, and Australia.

Aside from reporting on Malaysian businesses’ receptiveness towards technology, CPA Australia’s survey also obtained data on their financial health. For instance, close to 55% of Malaysian small businesses sought external finance in 2021 for business survival, and more than half of those who did seek external finance (in general) reported that they found it challenging to do so.

“Malaysia is also the only market where businesses found it more difficult than easy to pay their debts in 2021. These solvency problems are expected to continue this year with Malaysian small businesses again more likely to expect difficulty repaying debt than easy repayment conditions,” shared CPA Australia in its survey report. That said, many Malaysian businesses surveyed (66%) are confident that they will see growth in 2022, higher than the survey average of 61.9%.

The Asia-Pacific Small Business Survey (2021-2022) is CPA Australia’s 13
th
 annual survey of small business issues and sentiments across 11 markets in Australia, New Zealand, and Asia. CPA Australia has been conducting this survey every year since 2009.

(Sources:
CPA Australia
,
The Edge Markets
)

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Alex Cheong Pui Yin

Alex Cheong Pui Yin

Previously covered recruitment-related stories and had a short stint as a copywriter for the property industry. She subsequently developed an interest in investment and robo-advisors.

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3 Reasons To Participate In Sime Darby Property’s Spotlight 8 Campaign

In the past year, a majority of Malaysians shifted to being at home most of the time. We’ve begun to use terms like, “work from home”, “shop from home”, or “living in the new norm” to describe our circumstances.

With the increased time at home, we now view our homes as a multitude of spaces that we use to work, have fun, exercise, and most importantly, spend cherished time with our loved ones. Whether it’s creating an area to refine your green thumb with plants you bought online or rearranging the living room to cater to your spouse’s workspace, it’s safe to say that we’ve all adapted to living in the new norm.

So as we adjust to living in the new norm, why not find a home that’s tailored to your preferred new norm living?

Spotlight 8: Live The New Norm & Be Rewarded

Sime Darby Property’s Spotlight 8 campaign, which runs until 31 December 2021, offers first-time buyers, upgraders, and investors fantastic and value-added benefits when they purchase a home from selected Sime Darby properties, including:

Your Instalments On Us
 Deal for selected properties
Stamp duty exemption
Minimum 10% discount with Home Ownership Campaign 2021 (HOC)
Monthly & grand lucky draws
Weekend Spotlight Deals

Sounds good? Let’s dive into why you should consider participating in Sime Darby Property’s Spotlight 8 campaign.

1.
Choose From An Extensive Collection Of Properties

The campaign includes properties from 11 different townships and are well-suited for single adults, couples, and small to growing families. Check out a few of the selected properties below:

Serenity At Aurora Residences

With only 234 units, Aurora Residences is a freehold low-density serviced residence that offers spacious 2 & 3 + 1 bedrooms units with urban lifestyle facilities suited for all ages. Located only 300 metres from Empire Shopping Gallery, proximity to Subang Jaya LRT/KTM stations, and SS15 commercial centre, living in Aurora is all about convenience.

Enjoy exclusive year-end deals and HOC 2021 benefits when you book your Aurora home. Final 15 units left.

Experience Spaciousness At Alura

If you’re looking for a home that’s built for a growing family, wide-open spaces for activities, and surrounding greenery, consider it found with Alura’s double-storey terrace homes. Situated in the mature township of Bandar Bukit Raja, these award-winning freehold homes are both practical and welcoming. Its open-plan layout with 4 bedrooms allows for comfort and flexibility for the whole family, while the large backyard gives children ample space to run around while the grown-ups tend to their garden.

Buyers of Alura homes will get to enjoy complete HOC benefits and stamp duty exemptions.

Premium Living At Senada Residences

Redefine the meaning of luxury living at KLGCC Resort with Senada Residences; a serviced residence that boasts an envious view of KLGCC, one of Asia’s premier golfing destinations. Experience living in an address that resonates with opulence and a resort-style suite to match. Select from 10 unit layouts that are elegantly designed for your comfort and lifestyle.

Senada Residences property purchasers will be able to take advantage of Senada 38 XTRA Deals, which include an RM1,000 discount on a fully furnished package, a free rental management service worth RM9,000, and an entry into lucky draws.

Benefits such as waived SPA and loan legal fees await new homeowners of Senada Residences when they purchase by 31 December 2021.

Work From Home At Elmina Green 5

Practically located in Shah Alam, Elmina Green 5 is a collection of freehold 22’ x 75’ linked homes that enhance the flexibility of space at home. Its open space layout, wide windows, and high ceilings allow the home to be filled with natural light and breezy ventilation. Perfect for large or growing families, every room in an Elmina Green 5 home is designed for maximum space. Imagine a comfortable workspace, a coffee bar in one corner, and a children’s play area all in one room!

Soon-to-be home buyers of Elmina Green 5 homes will enjoy an attractive sales package from Sime Darby Property, complete HOC 2021 benefits, and stamp duty exemptions.

2.
Get Up To RM288,000 Worth Of Rewards

After you’ve chosen your next dream home, it’s only natural that your thoughts wander off to designing and furnishings. With Spotlight 8, stand a chance to win up to RM288,000 worth of prizes.

What’s more, a grand lucky draw of RM208,000 cash is for grabs and every prospective buyer who purchases a home under the Spotlight 8 campaign earns an entry.
Monthly lucky draws include up to RM80,000 worth of prizes such as treadmills, exercise bikes, kitchen and home appliances, gadgets, and more!

3.
Easy & Convenient Online Guided Sales Experience

As one of the leading property developers, Sime Darby Properties have taken the steps to make buying a property safer and simpler in the new normal.

To better serve the community, Sime Darby Property’s Online Guided Sales Experience provides prospective homebuyers with a complete and comprehensive sales experience online.

From surveying homes, booking, to the collection, the Online Guided Sales Experience brings the sales gallery to you, allowing you to stay safe while looking for your dream home.

Sales consultants are ever-ready to assist you over the phone and provide advice and solutions – taking care of the whole buying process.

***

If the new norm has got you thinking about expanding your home space for the well-being of your whole family, why not look into Sime Darby Property’s Spotlight 8 campaign for your next home that can fulfil the needs of your dream space. With the campaign end date inching closer, there’s still time to reap the full benefits of the Spotlight 8 campaign, such as the “Your Instalments on Us” deal, HOC 2021 benefits, and more. For more information, head to
Spotlight 8’s website
 or contact a
Sales Consultant for an Online Guided Sales Experience
.

Terms and conditions apply.

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Katrina Balan Quiroz

Katrina Balan Quiroz

Copywriter. Katrina is fueled by a need to turn a confusing wall of text into something comprehensible, and drip coffee.

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Most Affordable Areas to Rent in KL

Looking for a home in KL but worried about large rent payments? Don’t sweat it; we found you 3 reasonably-priced rent locations for those who work in KL!

Stretching your income to cover all expenses is an acrobatic feat these days especially in KL’s major city areas, where the cost of living is expectedly higher than other parts of the country. According to Numbeo, KL tops
Penang
,
Johor
 and
Malacca
 when it comes to higher rental costs.

Still, if you are employed in KL, living within reasonable travel distance to your workplace will help you save on excessive commuting time and cost. To that end, we’ve scoured the internet to look for areas that are less than an hour from KL with affordable rent. Here are 3 awesomely affordable KL areas to set up house and travel easy:

Bukit Jalil

Cheapest Rental
: Approximately RM900

Commute
: 55 Minutes via LRT and KTM Komuter

The Bukit Jalil Township enjoys rather easy access to KL via railway transits and if you have the option to drive; major expressways provide a link through the Shah Alam highway, New Pantai Expressway (NPE) and KL-Seremban Expressway.

You’ll also find plenty of affordable rent options in this suburb with standard amenities nearby like primary and secondary schools, hypermarkets, convenience stores, banks and clinics. Plus, if you’re ever in the mood for a concert or football match, just head on over to the Bukit Jalil Stadium!

Kepong

Cheapest Rental
: Approximately RM1,000

Commute
: 50 minutes via walking and KTM Komuter

The mature township of Kepong connects to KL via the Damansara-Puchong Expressway, the SPRINT highway and Jalan Kepong. But even if you were to drive to work, you’d still be able to get there in under an hour. In addition, the KTM Komuter and Electric Train Service also link to KL, so you have plenty of transport options.

The area has its fair share of amenities and even a college but best of all; the travel distance and convenience is comparable to neighbouring areas of Dutamas, Mont Kiara and Bandar Sri Damansara but at a much lower price.

Desa Petaling

Cheapest Rental
: Approximately RM1,000

Commute
: 40 minutes via walking and KTM Komuter

Desa Petaling stays connected to KL via major roadways through the NPE, KESAS, and the KL-Seremban Expressway. Moreover, the route to different parts of KL is further serviced by commuter transport via the Bandar Tasik Selatan KTM station. Even during peak hours, a drive to KL via Jalan Damansara would only take
22 to 40 minutes
 depending on the traffic situation.

Now even though low-cost rentals are available, a better bet would be to stick with medium-range condos and apartments for better security if you can afford it. And how’s this for convenience?
Plaza Salak Park
, the resident shopping mall, has its own cinema and supermarket.

What did you think of our list? Do you know of other budget-friendly rental locations with easy KL access? Do share in the comment section below!

And by the way, if you are fed up of renting and dream only of buying your own place? See what your options are with our
home loan comparison page
 and don’t forget to find out what you need to know about home loans.

Prices of units were correct at the time of publication

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Desiree Nair

Desiree Nair

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Finance Minister: 2023 Will Be Challenging For All Countries, Including Malaysia

(Image: Malay Mail/Yusof Mat Isa)

Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz has said that Malaysia will not escape the impact of the expected global economic slowdown in 2023. This is as all three global economic drivers – Europe, China, and the United States (US) – are expected to record a slower growth rate next year as compared to 2022.

The minister explained that an economic slowdown is inevitable for Malaysia as it is a country with an open economy, especially with its major trade partners experiencing a dip in their growth. “All the world’s countries will be (affected) because this time now, all the major economies are expected to slow down – Europe, US, and China. If you remember during the global financial crisis in 2007 to 2008, China grew 7% to 8%, so that helped mitigate the slowdown in the world economy, but this time, all three economies are expected to slow down in 2023 compared to 2022,” he said, although he also stressed that this is only a forecast.

Given the pessimistic projection, however, Tengku Zafrul said that Malaysia must do all it can to alleviate the impact of the situation. As such, Budget 2022 will continue to prioritise Malaysia’s structural reform agenda and maintain the country’s economic recovery momentum. Additionally, it will ensure the well-being of the people, and strengthen their resilience against future challenges.

(Image: The Star)

Aside from noting the inevitability of an economic recession in 2023, Tengku Zafrul also shared his opinions on Malaysia’s expected growth in the immediate future: the fourth quarter of 2022 (4Q22). With the global economic outlook dampened by various reasons – including the geopolitical tensions between the US and China, ongoing Ukraine-Russia conflict, and China’s zero-Covid policy – Malaysia’s 4Q22 growth will also likely be affected, he said.

“The Asian Development Bank (ADB) lowered China’s GDP forecast to 3.3% for 2022, the lowest rate compared to other Asian developing countries for the first time since 30 years ago. Climate change factors as well are expected to disrupt the productivity of major food producers such as India, thus contributing to the increase in commodity and food prices. These factors will continue to put pressure on inflation rates and food security around the world, including Malaysia,” Tengku Zafrul elaborated.

At present, however, Tengku Zafrul said that Malaysia’s economy continues to record positive figures, with inflation under control and the unemployment rate continuing to decline. It is also seeing positive GDP growth and foreign trade.

(Image: The Malaysian Reserve)

To note, Malaysia’s inflation for
July stood at 4.4%
, while the first seven months of 2022 saw an inflation of 2.8% – among the lowest in the world. Meanwhile, the unemployment rate has gradually lowered over the past few months to
3.7% for July
, complemented by a continuous positive GDP recovery since the fourth quarter of 2021; the latest GDP growth figure in 2Q22 is
recorded at 8.9%
.

The current numbers thus far have given Tengku Zafrul good reason to believe that Malaysia’s overall GDP for 2022 will still be able to meet the projected growth of 5.3% to 6.3% – and may even
surpass this official estimate
. “The confidence is coming from the numbers that we’ve seen on the ground, third-quarter numbers look very strong,” he said, adding that the growth numbers for 3Q22 is expected to be as strong as or stronger than 2Q22.

(Source:
The Edge Markets
)

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Alex Cheong Pui Yin

Alex Cheong Pui Yin

Previously covered recruitment-related stories and had a short stint as a copywriter for the property industry. She subsequently developed an interest in investment and robo-advisors.

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Public Bank Becomes First Bank To Launch DuitNow Online Banking/Wallets

(Image: The Edge Markets)

Public Bank has officially launched the DuitNow Online Banking/Wallets services, a new secure online payment solution that will better facilitate real-time payment acceptance among Malaysians and drive the country’s digital economy. This makes it the first bank to introduce the service in Malaysia.

In a press release, the bank explained that the DuitNow Online Banking/Wallets service – which is operated by Payments Network Malaysia Sdn Bhd (PayNet) – will enhance existing payment gateways (for online banking and e-wallets) through simple redirection. This, in turn, will enable e-commerce and m-commerce merchants to accept and receive their payments even more conveniently. Meanwhile, customers of the merchants can expect to experience an even “more seamless cart-to-checkout journey all in one place.”

“Providing the latest service in line with customers’ demand for convenience and security, Public Bank also prioritises environmental, social, and governance (ESG) efforts by providing greater financial inclusion for the unbanked in addition to enabling online merchants to easily accept payments in real-time through this new, cost-effective, and secure online payment solution,” said the managing director and chief executive officer of Public Bank, Tan Sri Tay Ah Lek. To note, Public Bank had actually quietly rolled out the DuitNow Online Banking/Wallet service much earlier in January 2022, but is only officially announcing it today.

The group chief executive of PayNet, Peter Schiesser also chimed in to highlight the benefits of this new service for merchants, especially since payments made using internet/mobile banking have witnessed a dramatic upsurge in the last two years.

(Image: The Malaysian Reserve)

“With this [upsurge] in mind, DuitNow Online Banking/Wallets was designed to elevate the user experience through a more seamless checkout process with the option of application-to-application payment redirection, which significantly reduces payment friction and cart abandonment,” said Scheisser. The new service is also expected to further expand the DuitNow ecosystem to include other digital wallets as it maintains compatibility with participating financial institutions.

Aside from Public Bank, several other parties, too, have already signed up to enable the DuitNow Online Banking/Wallet service. Razer Merchant Services (RMS), for instance, was the first merchant acquirer to
enable to full suite of payment channels offered by PayNet
 back in December 2021 – which includes DuitNow Online Banking/Wallet.
Shopee
, too, appears to have enabled it.

(Sources:
Public Bank
,
The Sun Daily
)

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Tan Sri Tay Ah Lek

About THE AUTHOR

Alex Cheong Pui Yin

Alex Cheong Pui Yin

Previously covered recruitment-related stories and had a short stint as a copywriter for the property industry. She subsequently developed an interest in investment and robo-advisors.

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Unbox LATEST Apple Watch & AirPods Pro When You Apply For Credit Card

Updated 1 Nov 2022

The Unbox This Week credit card campaign kicks off November with new gifts that will blow your mind.

For those who are new to this campaign, Unbox This Week is a weekly event where we present to you fantastic weekly flash deals from our featured bank partners. All you need to do is apply for selected credit cards from these banks of the week through RinggitPlus and you’ll take home some great prizes.

From 1 to 7 November 2022, our featured bank partners are

Citibank, HSBC Bank, Standard Chartered Bank, Alliance Bank, and Public Bank
. So, if you’ve considered applying for a credit card with any of these banks, you know what to do to get more out of your application!

Citibank – Apple Watch Series 8

The brand
NEW
 Apple Watch Series 8 could be yours when you apply for a Citibank Credit Card! From an upgraded Workout App to safety and health features like Crash Detection, temperature sensor, as well as sleep tracker, the Apple Watch Series 8 makes for an outstanding companion you can have around you 24/7.

Don’t worry if you’re not selected, as you will still get a guaranteed RM600 TNG eWallet Credit to shop your blues away.

Remember to activate and spend a minimum of eight retail transactions on your new card within 60 days upon gaining approval. Once the bank has confirmed your eligibility with us, you’ll receive instructions from us via email on how you can claim your gift.

Take note, though, that current cardmembers and individuals who have cancelled their Citibank credit cards within a year prior to this campaign do not qualify for this promotion. Otherwise, those who wish to apply for their new Citi credit cards can
head on over here to do so
.

HSBC – Apple AirPods Pro (2nd Gen)

Out with the old and in with the
NEW
 Apple AirPods Pro (2nd Gen)
.
 Win one when you apply for a HSBC Credit Card! An audio device like the AirPods Pro is essential to our daily routine these days whether it’s for work calls or tuning out when commuting on the train.

The new AirPods Pro omits external noise with enhanced Active Noise Cancelling technology, lets you adjust volume easily with touch control, and more lasting battery life.

For those who are not selected, you will still walk away with guaranteed Apple Airpods.

Don’t forget to activate and spend a minimum of RM1,000 on your new card within 60 days upon gaining approval to be eligible for this gift. That said, do note that current cardholders and applicants who were denied within six months prior to this campaign, as well as those who have cancelled their HSBC credit cards within six months prior to this campaign are not eligible for our campaign. Otherwise, you can apply for your HSBC credit card
here
.

Public Bank – Fitbit Versa 2 Smartwatch

Racing to reach all of your health and fitness goals? Win the Fitbit Versa 2 when you apply for a Public Bank Credit Card! Personalise your clock face, enjoy a battery that lasts for six days, monitor your heart, and commit to goal-based exercises all with your Versa 2 smartwatch.

For those who are not selected, you will still get a guaranteed JBL Wave 100TWS True Wireless In-Ear Headphones that boast deep bass sound, 20 hours of combined playback, and more.

All you need to do is complete your application via the RinggitPlus website, get approved by Public Bank, and make an accumulative spend of RM250 within sixty (60) days of approval to be guaranteed this gift. Apply for your Public Bank credit card
here
.

Standard Chartered Bank – Samsung 24″ LED Monitor

Enjoy an immersive viewing experience when you apply for a Standard Chartered Credit Card and win a Samsung 24″ LED Monitor. Not only does it boast a clean borderless display that offers expansive views, it is also kind to your eyes, eliminating screen flicker and reducing emission of blue light.

Don’t worry if you’re not selected, as you will still get a guaranteed Samsung Galaxy Fit2 smartwatch that comes with a wide 1.1-inch full colour AMOLED display, water-resistant of up to 50m with 5ATM or atmosphere certification, and up to 21 days of battery life.

Just remember, you will need to activate your card within 30 days upon approval to be eligible for this gift. Lastly, be aware that existing cardholders and individuals who have held a Standard Chartered credit card in the past six months are not eligible for this campaign. If you qualify, then you can apply for your new Standard Chartered credit card
here
.

Alliance Bank – Google Home Hub or URBANLite Ledge 24″ Luggage

Take home a guaranteed Google Home Hub or URBANLite Ledge 24″ Luggage when you apply for a new Alliance Bank Credit Card.

The Google Home Hub is your new assistant that lets you control devices in your home easily, watch streamed videos, make calls and is best of all, guaranteed to you when you apply for an Alliance Credit Card with Balance Transfer.

Meanwhile, you will receive the URBANLite Ledge 24″ Luggage that has 360 degree Spinner wheels for easy manoeuvring through airports or travel destinations when you apply for an Alliance Credit Card.

Upon approval, you just have to activate and spend to meet the requirements of the campaign and be eligible to get the prize. Existing cardholders of any Alliance Bank credit card and individuals who have held or cancelled an Alliance Bank credit card in the past six months are not eligible for this campaign. Apply for an Alliance Bank Credit Card
here
.

***

Finally, be sure to start your application with our WhatsApp chatbot so that your eligibility is guaranteed, and we can always be at hand to help you when you need us.

While this week’s flash deal ends on 7 November (11am), do follow us on our
Facebook page
 to receive the latest Unbox This Week offers as we refresh the deals every week.

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PM: 2% Discount On Electricity For All Domestic And Commercial Consumers

(Image: The Star)

Under the Perikatan Nasional government’s revised economic stimulus package for Covid-19, domestic and commercial electricity consumers will receive a 2% discount on their electricity bills for a period of six months.

“Taking into account the spread of Covid-19 which has had a wide impact, the government has now decided to grant a 2% discount for all other users in the commercial, industrial, and agriculture categories as well as domestic users, beginning 1 April until 30 September 2020,” said Prime Minister Tan Sri Muhyiddin Yassin.

As announced in the economic stimulus package of 27 February 2020, business categories affected by Covid-19 are set to receive a
15% discount
 on electricity usage for the same six-month period. Hotels, travel agencies, airlines, shopping malls, and convention and exhibition centres are considered the main affected business categories.

According to Tan Sri Muhyiddin, the 2% discount will benefit more than 10 million households, commercial users, and those in the industrial and agricultural sectors. The discount is expected to involve an estimated allocation of RM500 million.

(Source:
The Malay Mail
)

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6 Genius Ways You Can Double Your Salary

Money is always the issue to those who only have a single source of income, but it’s not easy to climb up the corporate ladder and get a salary raise. But don’t let that stop you from thinking outside the box and make some extra money on the side.

All it takes is a little bit of creativity and persistence, and you’ll be well rewarded with as much as double your salary – or more. Simply follow the steps below and get ready to make money!

1. Sell Off Unused Items

Not only it helps you to raise money in no time, it also helps to declutter your home. Hold a garage sale, sell the items on online markets like Mudah.my or eBay, or on mobile apps such as Carousell or Duriana. You’ll be surprised at the amount of cash you can make in a short time.

2. Rent Out Your Parking Space

Do you have personal parking space at your apartment or office building? Consider renting it out and opt for unpaid street parking instead. It might mean you’ll have to rise early every morning to find an unpaid parking spot, but if it means having more cash on a monthly basis, why not?

3. Join Rewarding Promotions And Campaigns

There are plenty of promotions or competitions out there that offer cash prizes. For example, KFH Malaysia is offering a fantastic
“Win Up To 6 Months Salary”
 campaign where you stand a chance to win up to 6 month’s salary.

This campaign offers 2 grand prizes of 6 months salary and 6 monthly prizes of 2 months salary to the lucky winners. Whether you win the grand or monthly prize, you’ll still bring home a huge sum of money that can greatly improve your finances!

It’s so simple; all you need to do is make your salary work for you. To participate, you’ll need to open either a
KFH SURE Savings Account-i
 or
KFH SURE Current Account-i
 and have your salary credited into the account by your employer within the campaign period. This entitles you to 3 entries, which equals to 3 chances to win the prizes!

If you’re not looking to start a new payroll account, simply deposit into a newly opened KFH SURE Savings Account-i or KFH SURE Current Account-i. For every RM1,000 increase in your average monthly balances, you’ll be entitled to 3 entries as well!

Those with an existing KFH SURE Savings Account-i or KFH SURE Current Account-i, don’t fret. You can still qualify every time you increase your average monthly balances. The campaign runs for 6 months from 14th February 2017 to 14th August 2017. Have a look at the campaign’s terms and conditions
here
.

4. Start A Part-Time Business

You can turn anything into a part-time business if you put your mind to it. You can sell baked goods online, sell beauty products online or offline, or even join a legitimate direct selling company such as Avon or Tupperware, or even start a clothing e-Commerce.

Anything is possible; just make sure to manage your time well so it won’t overlap with your full-time job.

5. Turn Your Hobby Into A Side Income

Are you good with your hands? Sell your handmade crafts on websites such as Etsy, or even Instagram. If you’re passionate about teaching and have some spare time, look for tutoring opportunities online or at privately.

If you’re good with a camera, you can look into being a part-time wedding or event photographer – or sell your works on websites that offer high royalty rates such as Alamy or Shutterstock.

6. Rent Out Your Spare Room

One of the easiest ways to earn easy money is by renting out your spare rooms, if you have any and don’t mind having a housemate. You can advertise your room on Airbnb, Roomly, or iBilik. Just be sure to choose your future housemate carefully, you don’t want to regret it later!

There are countless of other ways you can do to make more money on the side, all it takes is just a little bit of research. Another way to make your salary or savings work for you is by choosing a savings account with a high-profit rate, such as the KFH SURE Savings Account-i or KFH SURE Current Account-i. Find out more about KFH SURE Savings Account-i or KFH SURE Current Account-i and compare it to other KFH Malaysia products on our
comparison page
!

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4 Ways Prestige Residence Serviced Apartment Makes For A Great Family Home

These days, many homebuyers might be looking to own a serviced apartment for easier upkeep, fully-furnished modern layouts, and urban conveniences. Living in the city, our schedule is usually jam-packed with work and school throughout the day, hence access to essential amenities can be greatly beneficial.

If you’re looking to stay in a serviced apartment, LBS Bina Group Berhad has launched Prestige Residence in the mature neighbourhood of Seri Kembangan with an affordable starting price of RM270,000. Prestige Residence is well-connected to amenities and business hubs through several major highways for your everyday convenience.

Learn how Prestige Residence can be a great fit for your family.

Well-connected to major hubs

When looking for a home for your family, you might want the tranquillity of a suburb but still be able to get to major hubs easily.

Prestige Residence offers homebuyers convenient access to bustling business districts in Seri Kembangan, Puchong, Bukit Jalil, Cyberjaya, Putrajaya, Dengkil, and even the nation’s main international airport, Kuala Lumpur International Airport (KLIA).

For those who need to travel further, the residence also has great connectivity via major highways such as the Damansara-Puchong  Expressway (LDP), North-South  Expressway (PLUS), Shah Alam Expressway (KESAS), and Maju Expressway (MEX).

The upcoming Mass Rapid Transit (MRT) 3 Line is also expected to begin operations in January 2023 and will service the Seri Kembangan area via the Taman Equine Station and Putra Permai Station, which are located 3km and 5km away respectively.

Wholesome activities await

Another advantage of living in a serviced apartment is that you can access recreational facilities within the property conveniently without having to leave the property. Just step out of your home and take an elevator ride for some pool time, basketball training, and more with your family.

Prestige Residence comes with a total of 40 varied facilities including a clubhouse that caters to all ages. There are five differently-themed gardens, four pool facilities, function rooms, halal and non-halal barbeque areas, a games room, and more. For those with young athletes in the making, you will be thrilled to know that you can train together at a half-sized basketball court, futsal court, badminton court, takraw court, and more.

Besides, you can also send your little ones to the kindergarten and nursery on the property, chat up your neighbours in the alfresco cafe and picnic lawn, or even catch up with your fitness goals in the yoga, meditation, or dance room.

Surrounded by amenities

When you’re juggling between family and work, the daily routines can get overwhelming. Prestige Residence is situated close to amenities that every family needs and lets you run your errands easily so you can spend more quality time with those that matter.

For starters, Prestige Residence is situated nearby educational institutions including SJKC Bukit Serdang, SMK Taman Desaminium, and Rafflesia International and Private School. Healthcare facilities such as Hospital Serdang and Andorra Women and Children Hospital can be found within the vicinity as well.

Aside from that, it is only a short driving distance from household names like the AEON Mall Taman Equine, Mydin Puncak Jalil, and Giant Hypermarket Seri Kembangan. Other significant landmarks around are Pavilion Bukit Jalil, Kinrara Golf Club, and more.

Affordable price point

As the city continues to develop rapidly and the price of construction materials continue to increase, owning a home in it may cost more.

Prestige Residence offers homebuyers a modern urban lifestyle in an established township complete with full-fledged facilities at an affordable starting price of RM270,000. Set in Seri Kembangan, the serviced apartment also brings nature greeneries to homebuyers as it is flanked by the lush Ayer Hitam Forest Reserve, giving you the best of both worlds.

Prestige Residence has three open layouts for you to choose from ranging from 600 sq ft (two bedrooms and two bathrooms) to 850 sq ft (three bedrooms and two bathrooms).

***

Getting a home for your family is a huge milestone for anyone. If you’re looking to purchase a starter home for your family or live an urban lifestyle, you may consider Prestige Residence that offers complete facilities, great connectivity to mature towns and hubs, as well as surrounding amenities all at a starting price of RM270,000.

Learn about Prestige Residence
here
.

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Standard Chartered Stops Accepting Applications For Liverpool FC Cashback Credit Card

Standard Chartered said that it has ceased to accept applications for its Liverpool FC Cashback credit card, following the removal of the card from the bank’s list of credit cards on its website.

A quick search on the
Standard Chartered website
 showed that the Liverpool FC Cashback card has been delisted as one of the bank’s credit card offerings. Instead, there are now only six cards on offer, including the two remaining cashback cards in Standard Chartered’s line-up: the
JustOne Platinum Mastercard
 and the
Smart credit card
 (which now comes with
a new card face
).

When contacted, Standard Chartered’s customer service also acknowledged the removal of the Liverpool FC Cashback card from its list, and further informed us that: “At the moment, we will cease our Liverpool credit card for any new application until further notice.” They were, however, unable to share any reasons as to why the bank has decided to stop accepting new applications, or to confirm if it will be discontinued.

The Standard Chartered Liverpool FC credit card was
first introduced in November 2018
 with fairly generous cashback rewards, tiered up to 5% – provided you spent a specified minimum amount. The maximum cashback that could be earned back then was 5% (capped at RM50), unlocked by spending a minimum of RM1,500 and above on eligible transactions. Following
several subsequent revisions
, however, cardholders are now only able to earn
0.5% cashback on all retail purchases
, subject to a monthly cap of RM50.

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About THE AUTHOR

Alex Cheong Pui Yin

Alex Cheong Pui Yin

Previously covered recruitment-related stories and had a short stint as a copywriter for the property industry. She subsequently developed an interest in investment and robo-advisors.

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Where To Invest In Unit Trusts In Malaysia?

If you’ve taken a look at the
benefits of investing in unit trust funds
 and are ready to begin your own venture into it, kudos to you! It is impossible to overemphasise the importance of investing, and unit trust funds are a great way to get started – particularly for beginners.

As you do your research into the funds that you’d like to buy, don’t forget to also consider the various ways or channels that you can invest in unit trusts. You’ll probably know that you can invest via unit trust agents, but there are actually several other channels that you can use as well – depending on your preferences!

Here, we will share some of the different ways you can invest in unit trusts, as well as the benefits and drawbacks that come with them.

Unit trust agents

Arguably the most common method, many individuals may opt to carry out their unit trust investments via agents because of the convenience and services that are offered. Briefly, unit trust agents are representatives of unit trust management companies (such as Affin Hwang, Public Mutual, and so on), and hold a licence issued by the Federation of Investment Managers Malaysia.

Typically, a unit trust agent will reach out to you (either via cold calls or from a recommendation from someone you know), and then go on to help you submit your purchase request to the unit trust management company (if you agree to invest). A reliable agent will also attend to your subsequent questions or requests after that, such as if you need to obtain statements and documents related to your funds. These services could often save you a lot of time and trouble, especially if you’re still new to the process.

Aside from that, agents also come with the benefit of human interaction and fostering trust. They can explain the different funds to you, allay your concerns, and discuss the relevance of your funds in relation to your overall finances. This may appeal to those who feel more confident about investing only after having spoken to someone. It’s crucial to note, however, that agents should not be mistaken as
financial planners
; while the former can share insights as they interact with their clients, only financial planners are qualified to offer legitimate financial advice.

One key drawback to investing via agents, however, lies in the hefty commission that they draw from every successful transaction secured. This usually ranges between
1.5% to 2.75%
, charged based on the amount that you decide to invest. So for instance, if you decide to invest RM1,000, your agent will earn at least RM15 from you. Every subsequent transaction carried out via your agent will incur similar charges, and this can turn out to be quite the sum after a while.

On top of that, most unit trust agents are usually only attached to one asset management firm, and thus their recommendations would be tied only to products from his or her company. As such, it’s important to note that their insights should be validated by yourself before making a decision – remember, these agents earn a commission for every transaction you deal with them, and unfortunately that means some agents will put their needs above their clients.

Banks

(Image: The Malaysian Reserve)

It is also possible for you to invest in unit trusts through banks, and some people may actually prefer this channel over others – especially if you’ve been a long-time customer of a particular bank or have a dedicated relationship manager to attend to your needs. The familiarity with the bank’s procedures, as well as trust built over time will give you an added level of assurance and confidence.

Additionally, there is also a matter of convenience as banks typically include their unit trust investment functions as part of their existing mobile banking apps. This means that if you’re already a customer of a particular bank and are using its banking app, you will not need to download another app, register with a new entity, or go through the various verification processes in order to begin your investment journey. Hence, you enjoy the ability to access your financial information and conduct your transactions all in one channel; all your details can be viewed from a single dashboard, and you can also quickly set up autodebit instructions as per required.

Some banks may even have a special investment programme that you can take part in to ensure consistent investment. For instance,
Maybank
 has something called the Regular Savings Plan (RSP) Investment, where you allow the bank to automatically debit your savings or current account for your unit trust investment on a regular basis. Meanwhile, there is a growing number of banks that bundle various services into one product, and incentivise customers with additional interest and bonus perks. Standard Chartered’s Privilege$aver account is one such example; on top of offering bonus interest for depositing and spending a certain amount each month, account holders can earn extra interest by investing in unit trust funds with the bank.

As for the key disadvantage of purchasing unit trust via banks, note that the range of funds offered by a bank may be quite limited. Often, your accessibility is restricted only to funds from the bank’s unit trust management company (UTMC), or from a few fund houses. This naturally means you won’t be able to invest in the hundreds of funds available to Malaysians, but only those partnered with the bank – and that could impact your investment returns in the long run.

Some banks also charge relatively high charges and fees, going up to a maximum of 6% sales charge for unit trust investments. This is not inclusive of other fees you’d normally pay in a unit trust fund, such as fund management fees, and so on.

EPF i-Invest

Back in 2019, the Employees Provident Fund (EPF) launched the
i-Invest platform
 to allow eligible members to invest a portion of their EPF Akaun 1 savings into unit trust funds from
10 approved fund management companies
.

There are a number of benefits to investing in unit trust via the i-Invest platform, chief of which is potentially higher returns by investing in growth funds (note that the EPF has a relatively low risk tolerance, with a 10-year average dividend yield of 6.11% p.a.). In addition, investing through EPF i-Akaun is convenient and is available at lower sales charges. EPF members can make their investments directly from the EPF i-Akaun portal, which means that members will not need to go through any paperwork processing between the EPF (to withdraw money) and the fund management company (to invest). Additionally, the EPF has also capped the sales charge at a maximum of 0.5%, with some funds even offering 0% sales charges.

It also goes without saying that investing through this channel will not affect your current cashflow as you’ll be drawing from your EPF Akaun 1 for the investment – a pool of fund which is mandatorily locked away for your retirement anyway. In other words, you do not need to specifically change your current spending habits just to squirrel away extra cash for investment purposes. Similarly, the redemption of your investment will also be deposited directly back into your EPF Akaun 1 – unless you are 55 years of age and above, in which case, the money will be deposited into your personal bank account.

That said, do be aware you have to meet
several requirements
 in order to be eligible to use i-Invest. Specifically, you can only use the platform if you are 55 years of age or younger, and your Akaun 1 savings meet the basic savings requirement that matches your age band.

Given the EPF’s goal of diversifying part of its members retirement funds for higher-growth opportunities, there remains some restrictions to manage its members risks. For example, there is a cap on the amount of your Akaun 1 savings that can be invested into i-Invest; you can only invest up to 30% of the amount in excess of the basic savings that you have in your Akaun 1. Note also that despite the risk management measures in place, funds invested in i-Invest do not have the minimum 2.5% p.a. returns mandate – so there is a risk of making a loss (but with the potential of greater than EPF average returns).

Private Retirement Schemes (PRS)

(Image: Focus Malaysia)

PRS are voluntary long-term investment schemes designed to help Malaysians be more actively involved in saving for their retirement, complementing the contributions that are already being made to the EPF. These special schemes consist of a
range of retirement funds
 that have been vetted and comply with specific regulations set by the Securities Commission Malaysia (SC) – offered by
eight approved fund companies
.

Most people who opt to invest in unit trust funds via PRS do so for a number of reasons, one of which is that many of the funds offered have 0% sales charge. Moreover, PRS also features something called the
default option of core funds
 – which is essentially a pre-packaged mix of asset classes with differing levels of market risk, offered to you based on your stage in life:

45 years old and below: Growth fund (higher risk)
Between 45 to 54 years old: Moderate fund (moderate risk)
55 years old and above: Conservative fund (lower risk)

PRS contributors who are less experienced can opt for this default option of core funds for convenience, whereas investors who are more involved in strategising their portfolios can self-select their funds instead.

Another major benefit that comes with investing via PRS is the claimable tax relief of up to RM3,000 per annum for their voluntary contributions. The
tax incentive
 was provided as a form of introductory offer when
PRS was first rolled out back in 2012
, and was initially offered for 10 years – up until 2021. Under Budget 2021, the benefit was
further extended until 2025
.

To give you an idea of how much tax savings you can enjoy, the Private Pension Administrator (PPA) shared the following illustration (based on an annual PRS contribution of RM3,000):

The tax savings effectively equates to an “instant return of investment”, as our Licensed Financial Planners like to put it. If you are in the higher ranges of wage earners, the ROI for the RM3,000 invested in PRS funds is in the 20+% range, well above our licensed financial planners’ annual target returns of 9% p.a. for a unit trust fund.

In terms of drawbacks, some people may be deterred from investing via PRS because of its account structure and withdrawal mechanics. Your PRS account is basically structured similar to your EPF account; there are two sub-accounts provided: Sub-Account A (70% of PRS contribution) and Sub-Account B (30% of PRS contribution).

The money saved within Sub-Account A is locked away, and can only be withdrawn upon reaching the age of retirement at 55 years old. Meanwhile, cash in Sub-Account B is allocated for potential situations where you need to make pre-retirement withdrawals. However, making pre-retirement withdrawals from Sub-Account B will incur
a tax penalty of 8%
 (except for housing or healthcare purposes). This can be quite a hefty amount; for instance, if you were to partially withdraw RM10,000 from your Sub-Account B, you’ll be hit with a penalty of RM800.

Here’s a quick summary of how you may be charged when you make any sort of pre-retirement withdrawals from your PRS:

It is crucial to understand that the tax penalty is primarily implemented as a prevention measure to stop you from tapping into what should be your retirement fund, so if you are looking to invest in unit trusts with a medium term investment horizon, going the PRS route will not be the best option. On top of the pre-retirement withdrawal fees, there are also a number of other investment charges that you should take note of. The PPA – which is the central administrator for PRS – has a list of charges imposed for PRS investors:

The PRS providers, too, will impose some additional costs of their own, such as fund annual management fees and annual scheme trustee fees. An instance of the separate fees that are charged by a PRS provider, Affin Hwang are as follows:

Ultimately, make sure to check on the separate PRS providers as each will have their own fee structures, and remember to calculate the costs that you may incur before deciding!

Online unit trust marketplaces

Finally, online unit trust marketplaces are one-stop online platforms where you can find hundreds of unit trust funds that you can invest in. Just as you would see different vendors plying their wares for sale in a marketplace, an online unit trust marketplace also has multiple fund houses sharing many (or all) their funds with potential investors.

The chief advantage of this channel is the accessibility that it offers to a wide selection of funds – with varying risk levels, as well as regional and industry exposure – to meet the different risk appetite and preferences of investors. It is then up to you to shop around, doing your own research and comparisons to decide on which funds to invest in. Unit trust marketplaces also typically offer lower fees and charges as compared to the other channels, making it a popular choice of investment channel with savvy investors.

Perhaps the one drawback to purchasing unit trust from marketplaces is the fact that it is a heavily do-it-yourself (DIY) experience. This can be a little daunting for those who are just starting out on their own investment journey, but it also offers a rewarding learning experience if you take the time to do it. Experienced investors, meanwhile, will relish the freedom offered by these marketplaces.

In Malaysia, one of the best-known and largest unit trust marketplaces is FSMOne, which has been in operation since 2008. It is popular for its diverse selection of funds, as well as low fees and frequent offers of discounted sales charges. In fact, the sales charge can sometimes go even lower than if you were to invest directly with the fund houses themselves.

On top of that, FSMOne also offers an extensive database of fund information and articles from its analysts, discussing current economic and investment matters. This trove of information will be invaluable to both beginners and seasoned investors. The marketplace is further complemented by additional features as value-added services to its customers, such as the
Managed Portfolio feature
 – an online asset management and advisory service. It allows you to request for assistance from FSMOne’s dedicated fund managers if you need help managing your investments.

Finally, FSMOne is also the only channel that you can use to invest in nine curated unit trust funds that are recommended by our in-house licensed financial planners in
RinggitPlus Financial Planner:

KAF Vision Fund
PMB Shariah Growth Fund
Kenanga Growth Opportunities Fund
Principal Greater China Equity Fund (AUD Hedged, MYR, MYR Hedged, RMB Hedged, SGD Hedged, USD)
Eastspring Investments Dinasti Equity Fund
Affin Hwang Select Asia (Ex Japan) Quantum Fund (AUD, GBP, MYR, SGD, USD)
Manulife Investment US Equity Fund
Principal Global Titans Fund
RHB US Focus Equity Fund

***

With this, we hope that you now have a clearer idea as to where you can potentially kickstart your unit trust investment journey! As you can see, each channel carries with it different pros and cons, so make sure to give some thought as to how they may suit your lifestyle and preferences.

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About THE AUTHOR

Alex Cheong Pui Yin

Alex Cheong Pui Yin

Previously covered recruitment-related stories and had a short stint as a copywriter for the property industry. She subsequently developed an interest in investment and robo-advisors.

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Maybank Campaign Offers Monthly RM50 Cashback, With Other Prizes Up For Grabs

Between today until 15 February 2022, Maybank is running the Come Celebrate With Maybank Cards campaign, which allows its credit cardholders to win monthly RM50 cashback when they spend an accumulated minimum amount using their cards. This is on top of the opportunity to earn entries to win monthly and grand prizes as well, such as the Apple iPhone 13 and the Samsung Z Flip3.

To win the RM50 monthly cashback, cardholders will need to spend an accumulated minimum of RM1,000 within a month, as specified in the following schedule:

Month 1
: 15 Nov 2021 – 14 Dec 2021
Month 2
: 15 Dec 2021 – 14 Jan 2022
Month 3
: 15 Jan 2022 – 15 Feb 2022

The RM50 cashback reward will be awarded on a first-come first-served basis, and is capped at a maximum of 1,000 redemption per month. Additionally, each cardholder is allowed to win one cashback reward each month, which means that you can potentially earn up to RM150 cashback in total if you meet the spend requirement for all three months.

Meanwhile, cardholders aiming for the monthly and grand prizes can do so by spending a minimum of RM50 to earn qualifying entries, which then puts you in the running to win the prizes. The number of entries that you can earn is determined by the type of transactions carried out, listed below:

Qualifying entries
Spending requirements
1x entry
Every RM100 spent in a single retail transaction
5x entries
Every RM50 spent on the following transactions:
– Grocery
– Departmental store
– Petrol
– E-commerce
– E-wallets*
* Not applicable for Maybank Islamic credit cardmembers
10x entries
– Every RM500 on EzyPay transaction (full amount only)
– New-to-bank principal approved card

To clarify, qualifying spend include retail and online purchases that are transacted locally and internationally, Auto PayBills, auto-reloads for Maybank Touch ‘n Go Zing cards, as well as EzyPay instalment plans (full transaction amount only). It excludes transactions such as balance transfers and cash advances. Split or repetitive retail transactions of more five times in a day from the same merchant is also not allowed.

Upon earning the required qualifying entries, you’ll then stand a chance to win various monthly and grand prizes, with the bank using a randomiser programme to choose the winners. Specifically, monthly prizes that can be won are:

Spend duration
Monthly prizes
Allocation
15 Nov 2021 – 14 Dec 2021
– RM3,000 cashback
– RM100 Starbucks e-voucher
30
200
15 Dec 2021 – 14 Jan 2022
– RM3,000 F&B vouchers
– RM100 Starbucks e-vouchers
30
200
15 Jan 2022 – 15 Feb 2022
– RM3,000 travel package voucher
– RM100 Starbucks e-voucher
30
200

As for the grand prizes, there are three different gifts up for grabs, depending on which card you have been using (Visa, Mastercard, or Amex) throughout the campaign period:

Credit card
Reward
Allocation
Maybank Visa credit cards
Apple iPhone 13
20
Maybank Mastercard credit cards
Samsung Z Flip3
20
Maybank Amex charge/credit cards
Apple MacBook Pro
20

Note that each cardholder can win more than one monthly prize throughout the whole campaign period, but is only allowed to win one grand prize from either the Visa, Mastercard, or Amex category. If you do win any of the prizes, the bank will send a confirmation letter or email to you within 12 weeks from the end of the campaign month or period. It will also make an announcement on its official website and social media.

If you’re interested to join the campaign, go on ahead and register your participation by sending an SMS (
WIN<space>last 6 digit NRIC number without spacing
) to 66628. Cardholders with multiple cards are required to register only once during the campaign period.

(Source:
Maybank
)

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Alex Cheong Pui Yin

Alex Cheong Pui Yin

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Transport Minister: BLKM Programme To Help B40 Individuals Get Driving Licences

Transport Minister Datuk Seri Dr Wee Ka Siong has reiterated the benefits of the Bantuan Lesen Memandu Keluarga Malaysia (BLKM) programme, which aims to help individuals from the low-income group to get their driving licences at a lower fee.

Those who are entitled will only need to pay RM250 to get their driving licences, instead of the usual amount of RM750 for regular Malaysians. This includes a brief course. Note, though, that the aid is only applicable for the B2 licence class, which allows you to ride a motorcycle up to 250cc.

To qualify for the BLKM programme, you must be a Malaysian citizen aged 16 years old and above, with no health issues or disabilities, and are not blacklisted by the Road Transport Department (JPJ) or the police. Additionally, you should not possess any driving licences at the time of application.

“This programme under the Road Transport Department (JPJ) was created to reduce the burden of Keluarga Malaysia, especially the B40 category, when it comes to owning a valid driving licence,” said the minister after officially introducing the programme in Ayer Hitam, Johor.

Datuk Seri Wee also said that he hopes the programme will help the B40 group to obtain driving licences so that they can perform daily activities and earn income more easily. In particular, he said that this will be useful for youths who are working in the gig economy to generate income.

To note, the BLKM programme had actually been launched earlier this year, in March, by prime minister Datuk Seri Ismail Sabri Yaakob. On 6 August, Datuk Seri Wee – who is also the Member of Parliament for Ayer Hitam – officially introduced the programme in his constituency.

(Source:
The Star
)

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Alex Cheong Pui Yin

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Public Bank RM388 Cash Back For New Credit Cards

If you love cashback deals (and we know you do!) check out Public

Bank’s RM388 cashback credit card sign-up offer.

The promotion mechanics are simple, all you need to do is apply

for any Public Bank credit online by 31 August 2013. When you spend at least

RM1000 within the two months of your new credit card approval date you will be

entitled to RM150 cashback.

To qualify for the remaining RM238 cashback new credit

cardholders must apply and be approved for a Public Bank balance transfer OR Flexipay

plan. The plan must consist of a single transaction worth at least RM5000 under

a 24-month tenure and made within two months of the card’s approval date.

This promotion is only valid for new Public Bank principal

credit cardholders and each participant is only entitled to receive a maximum

of RM388 cashback once throughout the promotion period.

This offer is ending soon. Don’t waste another minute

sifting through websites and reviews, find the right credit card that suits

your lifestyle at
RinggitPlus.com

and start earning cashback immediately.

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Maybank To Calculate Interest Rates Of Savings, Investment Products Using New Split-Tier Method

(Image: The Star)

Maybank has announced that it will be implementing a new method of calculating the interest, profit and dividend rates for its savings and investment products, called the split-tier method. Set to take effect in stages starting from 1 August 2022, it will affect the bank’s current and savings accounts, as well as investment accounts (applicable to both conventional and Islamic products).

In its notice, Maybank explained that the split-tier method is a calculation method that separates a customer’s account balance according to its respective rate tier, with each tier earning a specific rate. The rates are assigned as below:

Balance tiers/bands
Interest/profit/dividend rate (% p.a.)
Below RM2,000
0.05
RM2,000 to RM50,000
0.65
Subsequent balances above RM50,000
0.85

The bank also clarified that the split-tier method will use the following formula for its calculations:

Account balance for each band x rate for each band x (total number of days/total days of the year)

To illustrate how the split-tier method will work, Maybank provided the following sample of a customer who has an account balance of RM60,000 in the month of August 2022, and how his interest/profit will be calculated:

Finally, note that the implementation of the split-tier method for the bank’s various products (conventional and Islamic) will take place as per the following schedule:

Conventional products

Product type
Products
Implementation date
Savings accounts
– Basic Savings Account
– Maybank2u Savers
– Golden Savers Savings Account
– Personal Saver
– Flexi Saver Plan
1 August 2022
Current accounts
– Maybank2u.Premier Account
1 August 2022
Current accounts
– Premier 1 & Premier Savings Account
– Private Banking Account
1 October 2022

Islamic products

Product type
Products
Implementation date
Savings accounts
– Savings Account-i
– Basic Savings Account-i
– Maybank2u Savers-i
– Personal Savers-i
– Flexi Savers-i
– Yippie-i & imteen i (only for accounts that perform withdrawal more than once a month)
1 August 2022
Investment accounts
– Golden Savvy Account-i
– Zest-i
16 August 2022
Investment accounts
– Private Banking Account-i
– Premier Mudharabah Account-i (Retail, SME/BB and GB)
16 October 2022

If you have enquiries regarding Maybank’s implementation of the split-tier calculation or would like to find out more information regarding the rate for each financial product, you can visit the
Maybank2u website
. Alternatively, you can also call Maybank’s customer care hotline at 1300 88 6688 or visit the nearest Maybank branch.

(Source:
Maybank
)

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Alex Cheong Pui Yin

Alex Cheong Pui Yin

Previously covered recruitment-related stories and had a short stint as a copywriter for the property industry. She subsequently developed an interest in investment and robo-advisors.

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    P S Manyam

    1 year ago

On what basis the “Balance Band” decided? is it based on balance on last day of the month ? or monthly average balance caculates?

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Govt To Reduce Individual Tax Rates For Two Income Brackets By 2%

(Image: The Star)

Finance Minister Datuk Seri Tengku Zafrul Abdul Aziz has announced that under Budget 2023, the government will reduce the tax rates for taxable income ranging between RM50,001 to RM70,000, and RM70,001 to RM100,000 by 2%.

At present, those with a chargeable income of between RM50,001 to RM70,000 are required to pay 13% tax, while those in the RM70,001 to RM100,000 taxable income bracket must pay 21%. With this update, the new tax rates for these two groups are as follows:

Chargeable income (RM)
Current income tax rate
New income tax rate
50,001 – 70,000
13%
11%
70,001 – 100,000
21%
19%

Aside from this, Tengku Zafrul also said that the tax rates for those in the RM250,001 to RM400,000, and the RM400,001 to RM600,000 taxable income brackets will both be standardised to 25% next year. At present, only individuals in the RM400,001 to RM600,000 income bracket are required to pay 25% tax; those earning between RM250,001 to RM400,000 per year, meanwhile, are currently paying a tax rate of 24.5%.

Tengku Zafrul also noted that these changes will allow the middle income group to enjoy tax savings of up to RM1,000, while high income group will save up to RM250. This also means that an estimated surplus of RM800 million will be freed for the people to spend.

The tax rates for other chargeable income brackets remain unchanged.

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Alex Cheong Pui Yin

Previously covered recruitment-related stories and had a short stint as a copywriter for the property industry. She subsequently developed an interest in investment and robo-advisors.

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    Joe

    10 months ago

can you explain how high income group will save up to RM250? from what i understand, those who earn 250k to 400k is getting a higher tax rate.

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    Terry

    10 months ago

So am I right to say those earning 250,001-400,000 will have to pay 0.5% more tax next year?

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Non-Cheapskate Reasons to Cut and Style Your Own Hair

Malaysians are really lucky as we’re one of those places on earth where it doesn’t cost an arm and a leg to get your hair styled and cut. Your hair is definitely a very important part of your appearance as messy and unkempt hair give out the impression that you’re irresponsible or disorganized as a person.

In this age where we can easily find instructions to do almost anything, from online articles and videos to apps that help with step-by-step guidelines, it really is very simple to pull off basic hairdressing techniques, including curling, straightening, colouring and trimming.

Here are some reasons why you should consider being your own hairdresser:

You Have More Control

Have you ever sat in your barber or hair stylists’ seat and struggled to communicate what you wanted for your hair, only to be completely disappointed at the final result? Well you’re not alone and many people find themselves in a similar dilemma. The best solution for this is of course to start styling your own hair and experimenting with different styles to see what’s good for you.

You Get to Groom Your Own Hair on the go

If you’re the type that travels often for work or are just too busy to visit a hair salon, learning how to trim your own hair will be extremely convenient, provided that you maintain a simple hairstyle, like a short buzzcut, a clean schoolboy cut, or even an entirely bald pate.

You Get to Express Yourself

If you want to go bald on only half of your head, but you can’t find a local hairdresser who knows how to do it, or you want to dye your hair shocking pink but your stylist just doesn’t have the colour, then it’s time to takes things into your own hands. Being your own stylist gives you the freedom to do whatever you want to stand out from the crowd and be yourself.

You Don’t Have to Get Harassed into Buying More Stuff

If you’re one of those people that dislike being cajoled into buying more hair care products than you actually need every time you visit the hair stylist, then you can skip these annoying hair care propaganda sessions. Treat your hair in the quiet and comfort of your own home, without the frustration of having to figure out how to politely turn your hairdresser down without being rude.

You Get to Choose Your Own Hair Products

Whether it’s hair dye, hair treatment cream, hair straightening cream or shampoo, you can choose your own brands and types if you treat your own hair. This way, you can avoid strong chemicals that may harm your scalp and go for something milder and more natural.

There are plenty of reasons to do your own hair and it a simple pair of scissors is the easiest way to start. All this, on top of the savings you’ll accumulate from not going to the hairdressers is why we think learning to be your own hairdresser is definitely a worthwhile endeavour. Do you have anything else to say about this article? Share your thoughts with us in the comments section down below!

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Michelle Chee

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Maybank Offers Huge Cashback & Rewards Points In New Credit Card Campaign

Maybank has launched a new campaign for its credit card holders, offering a generous sum of cashback and rewards points by meeting some spending criteria. This invite-only campaign has a second phase as well, where those who meet the spending criteria stand a chance to win Apple and Dyson products.

Under Tier 1 of the Maybank “Spend & Be Rewarded” Campaign, cardholders will receive guaranteed cashback or TreatsPoints/Membership Rewards points by meeting the spending requirements. Different cardholders will receive different offers, but according to Maybank, cardholders whose highest-tier cards with Maybank will receive cashback offers while those with rewards points cards will receive TreatsPoints will receive rewards points.

These cashback and rewards points are guaranteed, and is not a first-come, first-served affair like other campaigns. That said, this is an invite-only campaign, where only those who receive the SMS or email for this campaign will be eligible.

From what we’ve found, here’s a list of different offers under Tier 1 of this campaign:

RM150 cashback with minimum spend of RM9,000
RM400 cashback with minimum spend of RM18,000
75,000 points (TreatsPoints/Membership Rewards points depending on your card) with minimum spend of RM9,000
75,000 points (TreatsPoints/Membership Rewards points depending on your card) with minimum spend of RM27,000
200,000 points  (TreatsPoints/Membership Rewards points depending on your card) with minimum spend of RM18,000
250,000 points  (TreatsPoints/Membership Rewards points depending on your card) with minimum spend of RM45,000

Note that these rewards will be awarded on top of your existing card’s benefits, so those who receive the invitation and can meet the spending requirements will enjoy the additional benefits from this campaign. As always, e-wallet reloads are not eligible under the spending requirements (among other exclusions, which can be found in the T&C linked below).

As for Tier 2, cardholders who have met the spending requirements from Tier 1 will automatically be in the running to win one of three prizes: Consolation (Apple Watch Series 6 GPS + Cellular), First Prize (Dyson cordless vacuum), or the Grand Prize (Apple iMac 27 inch 5K Retina Display). There are a total of 300 prizes to be given away.

Those who have been invited to the campaign will have three months to complete the spending requirements, specifically from 15 August till 15 November. Meanwhile, Tier 2 will start from 15 October till 15 January 2022 – we assume winners will be announced after this date.

Based on our analysis, the cashback offers aren’t really much to shout about with effective returns between 1.67% to 2.22% – though if your spending pattern meets the spend requirements of this campaign, this will be a welcome bonus regardless. However, air miles chasers will be licking their lips at the bonus points on offer – that’s because the Maybank 2 Premier Cards have among the best rewards points to air miles conversion rates in Malaysia, which means these points can be quite valuable.

While the redemption rates vary between airlines, we generally value 1 air mile at 4 sen for Economy Class redemptions, and 8 sen for Business Class and above (though admittedly these are pre-Covid standards). Hence, those who receive the offer for 200,000 points with RM18,000 spending (the highest points to spend ratio among the four offers) are looking at 8.89% to 17.78% in effective returns, guaranteed! Of course, there’s the matter of
when
 we can fly again…

(Source: Maybank [
1
,
2
])

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A seasoned tech journalist who now focuses on his other passion, Pang is a firm believer in old-school DCA and optimised spending.

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Grumpy Cat Raking Big Money on a Bad Cat-titude

Whoever thought one could make money out of being grumpy. Or even more so… a grumpy cat. Heck, not even a really grumpy one; just one that
looks
 grumpy.

And yet, that meme superstar Grumpy Cat, or Tardar Sauce as she is known by her owner, is raking in the moolah off merchandising, and now endorsement deals as the
official ‘spokescat
‘ for Friskies cat food.

If it wasn’t bad enough that a cat was raking in such big bucks (the owners, the Bundesens refuse to
divulge the figure but their agent reckons it’s a cool 6 figures
) on a bad cat-titude; it appears, she isn’t really even grumpy. She just has a grumpy face. Tardar Sauce is the ‘victim’ of feline dwarfism which makes her expression permanently cranky.

If only the laws of fame applied to humans as well: All we need is a picture of ourselves on a Monday.

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Standard Chartered Campaign Offers Daily Cashback Of Up To RM100, Grand Prize Of RM100,000

Standard Chartered Bank is once again running its Mid-Year Spend & Win Campaign this year, giving its credit cardholders an opportunity to win daily cashback prizes of up to RM100 by spending a minimum of RM100 in a single retail transaction. Running between 1 July to 31 July 2021, you can also be in the running to win a grand prize of RM100,000.

Open to all credit cardholders except for those with corporate cards, the campaign mechanics are as follow:

Daily cashback prizes of up to RM100

Standard Chartered credit cardholders who spend a minimum of RM100 in one retail transaction will have a chance to participate in a Play & Win game, after which they may earn cashback of either RM5 or RM100. A link for the game will be sent for every eligible transaction that is made, which means that you can earn multiple chances to play in a day if you carry out multiple qualifying payments. That said, each eligible cardholder is only entitled to a maximum of two daily cashback prizes per day.

Do also note that only retail payments are accepted for this promotion. It does not include payments for petrol purchases, utilities, insurance, telecommunication, and government services – among others.

As for the quantity of daily cashback prizes that are available, the RM5 cashback prize is capped at a total of 84,750 throughout the entire campaign period. Meanwhile, the RM100 cashback prize is limited to 62 slots.

As always, these prizes will be provided on a first-come first-served basis. If you do win, the cashback will be credited to your account within 60 working days from the end of each calendar month of the campaign period.

Grand prize of RM100,000

Aside from the daily cashback prizes, Standard Chartered’s Mid-Year Spend & Win Campaign also features a single grand prize of RM100,000 to be won by eligible credit cardholders. To stand a chance at winning this cash prize, you’ll first need to earn entries by carrying out the following transactions on your credit card:

Criteria/Transactions
Entries
Every RM100 retail spend (local and overseas)
5x
Every RM100 spent on Fave, Grab, Shopee, Lazada, Taobao, or Zalora
10x
First spend on newly approved credit card during campaign period
100x
Each approved application during the campaign period:
– Balance Transfer Plus
– Flexi-on-Balance Plus
– FlexiPay Plus
– Cheque-on-Call Plus
100x

The bank further clarified that unlike for the daily cashback prizes promo – which accepts only specific payments as qualifying transactions – all transactions will earn you entries to be in the running to win the grand prize.

At the end of the campaign, Standard Chartered will then shortlist and draw a grand prize winner from the pool of eligible credit cardholders. The winner will be informed within 90 days from the end of the campaign period, after which the grand prize will be credited into his or her account within 120 days from the end of the campaign period.

***

If you wish to join in on the bank’s Mid-Year Spend & Win Campaign 2021, you’ll need to register your participation by sending an SMS (“WIN”) to 66399 or by responding to the bank’s SMS invitation to you. Once successfully received by the bank, your registration will be valid for all the
Standard Chartered cards
 that you hold.

Note as well that the bank will take up to three working days to record your registration in its system. This may affect some of the mechanics for the campaign; for instance, if you carry out eligible transactions for the daily cashback prizes on the day that you register for the campaign, the bank may only send you the link to its Play & Win game after three working days instead of within the day. You can find out more about
Standard Chartered’s Mid-Year Spend & Win Campaign 2021
 on the bank’s official website here.

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Alex Cheong Pui Yin

Alex Cheong Pui Yin

Previously covered recruitment-related stories and had a short stint as a copywriter for the property industry. She subsequently developed an interest in investment and robo-advisors.

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Triple Gaming Rewards From Maybank2u

Maybank2u and OffGamers have teamed up to offer its customers an exclusive limited deal. From 5 April 2013 till 19 April 2013 customers using Maybank2u to buy OffGamer points online will receive 3 times as much points. These points can be redeemed as store credit and used to purchase products from the OffGamer website.

Don’t miss out on this special offer!

Visit
OffGamer.com
 to get more info available gaming products.

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Stock Trading Isn’t As Hard As You Think

Given the rising cost of living, it’s no surprise that many people are looking for a secondary source of income. Trading on the stock market is always an option, but we’re sure many of you have gotten discouraged from doing so simply because of how complicated it looks. Factors like being new to the stock market and a lack of understanding on the options available can put you off the venture altogether. However, these perceptions shouldn’t deter you – especially if there is a way for you to trade with a helping hand guiding you along the way.

If you’re interested in finding out more about stock trading, the Rakuten Trade website has social media friendly video tutorials explaining everything you need to know from how to get started, how to read research reports to investment ideas. Rakuten Trade makes stock trading an easier, cheaper, and a more convenient process. Read more and sign up in just one visit on
Rakuten Trade
 and you could be starting to trade within 2 hours!

Note: Rakuten Trade holds a restricted Capital Markets Services License (“CMSL”) issued by the Securities Commission Malaysia to deal in listed securities and provide investment advice.

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Finance Minister Reassures That OPR Hikes Will Be Carried Out Gradually

(Image: Bernama)

Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz has reiterated that the increase of Malaysia’s overnight policy rate (OPR) will be carried out at a gradual pace as there are consequences to hiking it too aggressively.

“Our economy was growing strongly in the first half of the year at 6.9%, and so we can afford to increase the OPR,” explained Tengku Zafrul in a forum conducted by Bloomberg, adding that the financial sector has remained stable amidst the tightening of interest rates by Bank Negara Malaysia (BNM). His comment also echoes BNM’s early reassurance that it
will not take an aggressive approach
 in normalising Malaysia’s monetary policy to the pre-pandemic level as this will risk disrupting the country’s economic growth.

Tengku Zafrul also stressed that Malaysia’s monetary policy remains accommodative as the current OPR is still lower than what it was prior to the start of the Covid-19 pandemic, which ranged between 3% to 3.25%. To note, Malaysia’s OPR currently stands at 2.50%, following three OPR hikes in 2022 thus far. All three hikes – which took place in
May
,
July
, and
September 2022
 – saw an increase of 25 basis points (bps) to the OPR, respectively.

(Image: Bloomberg Live)

Aside from commenting on the OPR increase, Tengku Zafrul also highlighted that the country’s economic growth may surpass the official prediction of gross domestic product (GDP) growth for 2022, currently forecasted at 5.3% to 6.3%. This is as Malaysia has seen strong economic growth trends in the second quarter of 2022 (2Q22) – with the GDP growing at 8.9% – despite the present weaker global economy and strong US dollar. This strong growth is expected to continue into the third quarter of the year (3Q22), he said.

Several other matters that were also discussed during the forum included the performance of Malaysia’s currency and the upcoming Budget 2023. On the ringgit, Tengku Zafrul said that the government is
less concerned about the performance of the currency
 as it focuses on the mid- to long-term performance of the economy.

As for Budget 2023, the finance minister remarked that the government will concentrate on three key areas:
maintaining economic growth, ensuring sustainable and inclusive economic growth, and fiscal responsibility
. The national budget is set to be
tabled on 7 October 2022
.

(Source:
The Star
)

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Grab Plans Physical Cards Launch In Malaysia Soon; To Expand PayLater Feature

Grab’s expansion in the financial services space will see some huge moves in the coming year for Malaysia. Users can expect up to two physical card launches in the country, as well as more options of using the PayLater function.

In an interview with FintechNews Malaysia, GrabPay head Ooi Huey Tyng stated that Grab is looking to introduce its co-branded credit card in Malaysia this year. The
Citi-Grab card
 was first launched in Philippines in June 2019, followed by Thailand in October that year. The Malaysian launch is said to be “just around the corner”.

Meanwhile, the
physical GrabPay card
 looks to be coming to Malaysia sometime this year. Launched in partnership with Mastercard in December 2019, the GrabPay card is designed to be numberless for better security, and presents a host of Grab-exclusive benefits such as the opportunity to earn GrabRewards points at all Mastercard merchants. Currently, the GrabPay card is available only in Singapore.

Meanwhile, Grab also revealed that it will soon be making the PayLater service available beyond Grab services (Grab rides, GrabFood, and GrabExpress). As the company begins collaborating with other online players to create a more dynamic e-commerce ecosystem, one option includes making it possible for other online platforms to integrate some of Grab’s functions, such as PayLater.

Essentially a form of credit,
Grab PayLater
 allows you to consolidate your relevant Grab transactions into a single monthly bill, which you can then conveniently pay in one lump sum the following month.

(Source:
FintechNews Malaysia
)

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About THE AUTHOR

Alex Cheong Pui Yin

Alex Cheong Pui Yin

Previously covered recruitment-related stories and had a short stint as a copywriter for the property industry. She subsequently developed an interest in investment and robo-advisors.

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