Banks Conducting Post-Relief Assistance Survey To Reassess Customers' Financial Situation

(Image: Bernama)

Several banks in Malaysia are currently running a survey, which aims to reassess the financial situation of customers who had applied for repayment assistance due to the Covid-19 pandemic back in 2020 and 2021. It also sought to gauge affected customers’ readiness to revise their monthly repayment amounts and shorten their tenure so that they can save on borrowing or financing costs – if their current financial circumstances allow it.

If you’ve been banking with Public Bank, UOB Bank, or Bank Rakyat – and have tapped into their Covid-19 repayment assistance – then you may have been contacted by them to take part in the survey. Some key things that you should note about the surveys from each bank include:

Public Bank

Public Bank’s survey is quite detailed, with two sets prepared for different groups of customers:

Survey form
Customer group
Deadline
Retail loan survey form
Only for targeted repayment assistance (TRA) customers
Survey must be completed within 7 days from receiving invite from the bank (in the last week of August 2022)
Hire purchase survey form
For hire purchase customers
Survey must be completed by 31 March 2023

Customers can choose to complete the survey online, or download the survey form to manually fill it in. If you opt to download and fill in the form manually, your completed form must then be emailed to either
[email protected]
 (retail loan survey form) or
[email protected]
 (hire purchase survey form).

PBB also noted that customers who indicate a desire to revise their monthly instalment upwards may be contacted at a later date. In fact, customers who wish to do so can approach the bank anytime during the loan/financing tenure if their financial circumstances have improved.

If you’d like a clear clarification as to how an increased monthly repayment with shortened tenure may benefit you,
Public Bank’s survey page
 has prepared clear illustrations as well.

UOB Bank

UOB’s post-relief assistance survey
 is equally – if not more – concise. Customers are only required to fill in their banking and personal details, and inform the bank whether they would consider shortening their loan or financing tenure in order to reduce their total interest or financing costs.

UOB said that the survey will enable the bank to advise customers on whether they can or should opt to increase their monthly repayments, and by how much (if they are able to). It also noted that the revision of customers’ monthly instalment or loan/financing tenure is optional, and is subject to their current financial status.

Bank Rakyat

(Image: The Star)

Similarly, Bank Rakyat is also hosting its own post-relief assistance survey. Unlike Public Bank and UOB – who both built an online platform for it – Bank Rakyat said that it will identify and contact affected customers instead.

In
an FAQ
, Bank Rakyat explained that it will reach out to customers who requested for repayment assistance between 1 October 2020 to 31 December 2021, and who meet the following criteria:

Customers with floating-rate financing

Financing with no arrears as of the survey date

Identified customers will first be informed of the bank’s decision to select them for the survey via SMS or email, and then subsequently be contacted for the actual survey at a later date.

Bank Rakyat also reiterated that this particular survey only aims to collect information; those who are interested in revising their repayment amounts will be contacted a second time after the survey to discuss matters in detail.

***

Between 2020 to 2021, banks in Malaysia had rolled out numerous repayment assistance programmes to assist customers who were badly affected by the Covid-19 pandemic and subsequent movement control order (MCO) restrictions that were put in place. On top of two blanket moratoriums (in
April 2020
, and then
June 2021
), there were also
various targeted repayment assistances
.

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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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PM: Government Looking Into Ways To Address Increasing Prices Of Goods

(Image: Bernama/Faisal Jaafar)

Prime Minister Datuk Seri Ismail Sabri Yaakob has said that the government will look into ways to address the increasing prices of goods in the country. He affirmed that the government will not let the people suffer from the price hikes.

According to Datuk Seri Ismail Sabri, the government is taking short-, medium-, as well as long-term measures to ensure that the people are not overburdened by the rising prices of goods. One of the initiatives that have been taken thus far is the government’s provision of subsidies for various items, including chicken, chicken eggs, cooking oil, fuel, electricity, and water.

The
total subsidies – which is projected to hit almost RM80 billion
 – is said to be the highest amount of subsidies ever borne by any government. Among others, it will cover consumption subsidies for items such as petrol, diesel, liquefied petroleum gas (RM37.3 billion), cooking oil (RM4 billion), flour, electricity, and subsidy bills (RM9.7 billion).

(Image: Bernama)

Aside from the subsidies, the
government has also recently formed a special team, Jihad Tangani Inflasi
 to draft strategies and coordinate efforts to resolve the problem of rising cost of living in the country. Chaired by Communications and Multimedia Minister Tan Sri Annuar Musa, the
special team will adopt proactive measures
 to keep the country’s inflation at a low and manageable rate.

“The government will continue to consistently focus on programmes and initiatives that bring prosperity and benefits to Keluarga Malaysia,” the prime minister remarked, adding that the government will offer both material aid and support whenever necessary.

(Source:
Malay Mail
)

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CIMB & Standard Chartered Credit Cardholders Can Now Redeem TNG eWallet Credit With Rewards Points

CIMB and Standard Chartered credit cardholders can now redeem their rewards points for Touch ‘n Go eWallet credits, with a choice of between RM50 or RM100.

This is the first time the e-wallet service provider has offered such an exchange, with the added benefit of giving you eWallet credit that never expire. In other words, the eWallet credit don’t expire once you have redeemed them into your eWallet account, and you can use them for various transactions at your leisure. These include making toll payments through Touch ‘n Go’s PayDirect/RFID, paying for your bills, or making purchases at over 200,000 stores and outlets nationwide.

For CIMB cardholders, you can redeem RM50 worth of Touch ‘n Go eWallet credit with 22,000 bonus points (BP), and RM100 worth of eWallet credit with 42,000 BP. Note that your redemptions will come in the form of e-PINs; these e-PINs are non-refundable and have a validity period of one year from the date they are generated. Also, don’t forget to provide your email address so that the e-PINs can be sent to you.

Based on the redemption rate, 1 CIMB Bonus Point is worth 0.23 sen.

Meanwhile, the redemption rate for Standard Chartered cardholders stands at 35,500 points and 71,500 for RM50 and RM100 worth of Touch ‘n Go eWallet credit, respectively. The reload PINs for Standard Chartered cardholders are valid only for 180 days. You’ll also have to provide your email address during the redemption process to get the PINs, and they will be sent to you within 14 working days.

Based on the redemption rate, 1 SC reward point is worth 0.14 sen.

To redeem, head on over to either the
CIMB Member Rewards
 page or
the Standard Chartered 360° Rewards
 page. From there, search for Touch ‘n Go eWallet reload PINs under their Voucher/e-Voucher section. Once you find them, enter and confirm the number of redemptions that you wish to make, and then simply reload your Touch ‘n Go eWallet when you receive your PINs.

For more information about how you can redeem Touch ‘n Go eWallet credits with your
CIMB
 or
Standard Chartered
 rewards points, head on over to the banks’ websites.

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Alex Cheong Pui Yin

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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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Race into the Standard Chartered Marathon Free of Charge When You Open a JustOne Account or Apply for a Credit Card

All that marathon training – you’re raring to go! Every runner worth his salt participates in the Standard Chartered Marathon and now the good people at SC is willing to let you participate sans the entrance fee if you sign up for a JustOne Account or a SC credit card.

Just sign up for any of the above and your entrance fee will be refunded. That’s not all, there are other benefits too.

If you sign up for the JustOne account and fulfill the first month requirements, you will receive a:

20% discount for GNC supplement items only

20% discount for New Balance normal price items only

Celebrity Fitness Package worth RM820 (14 days free trial worth RM350 + joining fee worth RM290 + personal training session worth RM180) – when you fulfill 2 consecutive months of JustOne* Account deposit requirement

Registration fee refund – when you fulfill 3 consecutive months of JustOne Account deposit requirement.

Sign up for the JustOne Account
here
.

If you sign up for an SC Credit Card, the perks are as follows:

20% discount for GNC supplement items only

20% discount for New Balance normal price items only

Ongoing Online Credit Card Application promotions

Registration fee refund – spend RM200 within 60 days from card approval

Sign up for an SC credit card
here
.

It’s a good deal but always know what you’re getting yourself into by reading the
Terms and Conditions
. Promotion is only valid when you open an account online through the links provided. Campaign ends 30 June 2013.

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Guaranteed Samsung A02s, Lazada RM550 e-Voucher & More with RinggitPlus Unbox This Week Campaign

It’s the first week of May and we have
guaranteed gifts
 from all three featured bank partners in this week’s unboxing!

As part of RinggitPlus’ Unbox This Week Campaign, every week we lay out fantastic 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.

This week (3 May – 10 May), the featured banks are
Citibank, HSBC Bank, and Standard Chartered Bank
— if you’ve considered applying for a credit card with any of these banks, make the most out of your application and check out the rewards they’re offering below.

Citibank: Apple AirPods

This week’s guaranteed gift from Citibank is a pair of wireless AirPods from Apple. All you need to do is apply for selected Citibank Credit Cards through us and make eight transactions with the card to be eligible.

Be sure to submit your application by 10 May to be in the running, as well as 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: Samsung Galaxy A02s

Here’s another early Raya treat for you! Just apply for selected HSBC credit cards through RinggitPlus, activate the card, and spend a minimum of RM1,000 on your new card within 60 days upon gaining approval to take home this awesome phone! Enjoy your favourite shows with an expanded view thanks to the 6.5-inch Infinity-V Display of the Samsung Galaxy A02s.

Just remember 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 three months prior to this campaign are not eligible for our campaign. Otherwise, you can apply for your
HSBC credit card here.

Standard Chartered: RM550 Lazada e-Voucher

Last but not least, Standard Chartered Bank is
once again
 rewarding all approved applicants with a guaranteed gift —  and this time it’s a RM550 Lazada e-Voucher!

Apply for selected Standard Chartered Credit Cards by
6 May (6pm)
, get approved, and receive a Lazada e-Voucher to be spent on your
daily essentials, wishlist items
and more! Don’t forget, in order to be eligible for this prize, you will need to activate your card within 30 days upon approval.

Also, 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.

***

Lastly, 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 if you need us.

While this week’s flash deals end on 10 May (1pm), — except Standard Chartered’s deal which ends a little early on 6 May (6pm) —  you can also 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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How to Get Free Storage Space By Putting Your Data in the Cloud

You may have heard of people storing their computer files (photos, videos, documents, and other things) ‘in the cloud’. But what does it mean and is it really that useful in the first place?

If you’re unfamiliar with cloud storage, read on to learn more about it, how you can use it to your advantage, and get acquainted with some resources to get you started. For those already familiar with cloud storage solutions, read on for a list of reasons and recommendations on how to use the service to its fullest.

What Does Storing Data “in the Cloud” Mean?

Whenever you save an image, document, video, or other data into your computer, smartphone, or tablet, what you’re doing is saving that file onto the device’s storage component (also called ‘memory’).

As an alternative to this, some companies offer the service of ‘renting’ out their storage space to you over the internet so you can save your files with them and not worry about losing your data. This practice is called ‘storing data in the cloud’, or ‘cloud storage’.

Aside from safety, there are many other advantages to using cloud storage.

Your Data is Always Accessible

Since your files aren’t locked into just one device, you can always retrieve them from any machine that connects to the internet. This means you don’t have to worry if your phone or laptop gets broken or stolen. You can just borrow another person’s machine, get online and download your files.

This allows you to be productive (or entertained) wherever you are with an internet connection. You can even store setup files or installation files in the cloud so you always have access to your favourite apps and games ready to go when you start using a new machine.

Extra Storage Space When Physical Space is Limited

Have you ever wanted to take a picture on your phone but then your phone says you ran out of memory? What a drag. But with cloud storage, you don’t have to always carry around your files with you and filling your device’s memory.

Backing up your photos or files to the cloud every so often means freeing up more space on your device for the really important stuff you want to have available to you even when offline.

Easily Share Your Files From Anywhere to Anyone

Having your files accessible from any device with a web browser is not just handy for
you
, but also for other people who need your files. Using local storage devices like a flash disk or an SD card requires a computer and physical presence of all parties who want access to the files.

By using cloud storage you can give people access to tons of files of varying sizes just by sharing a download link. You can even share a folder in the cloud across several users so they can help themselves.

(Most) Cloud Storage Services Give You Space For Free

Yup. How else can you trust a service to keep your stuff if you can’t test it out for free first, right? Most cloud storage services offer from 2GB to 15GBs of free storage that you can use right away without having to pay a sen.

Sounds Useful, But isn’t it Unsafe to Let Other People Store My Files?

It’s as safe as your emails, if that’s what you mean. Every reputable cloud storage service requires you to secure your account with a password and many offer 2-factor authentication where every sign in requires an additional confirmation via mobile phone.

Even if you’re uncomfortable saving your private and confidential files to the cloud, you can still use the storage for photos, video, or apps that don’t have any sensitive information attached to them.

Okay. How Do I Get Started?

Cloud storage services are more ubiquitous than you may think. If you’re reading this from a Windows computer running Windows 8 or later, you already have access to 5GB of free cloud storage via
Microsoft’s OneDrive service
 (formerly known as SkyDrive).

Gmail users on the other hand can use the same login credentials to access their
Google Drive
 accounts for 15GB of free cloud storage. There are many other alternatives to these two of course. You can check out
this quick breakdown
 to compare features and pricing options between the top cloud storage services right now including the popular
Dropbox
.

Speaking of using apps to help you out, check out our sister site Savemoney’s writeup on the
free apps you can download and use that are just as good as your favourite apps
. Remember, don’t pay for anything you can already get for free.

Do you manage your files using cloud storage? Any tips and tricks you’d like to share? Do let us know in the comments section below!

Photo credits:
FutUndBeidl via flickr
,
Cheong Fong Liew via flickr
, and
Ian Lamont via flickr
.

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Shopee Launches Its Food Delivery Service, ShopeeFood

Shopee is finally joining the food delivery market with the roll-out of its latest ShopeeFood feature. The function – which is currently still on trial – is made available to only 25% of Shopee users for now, but the e-commerce platform expects to launch it in full within the next three to five working days before the end of September 2021.

This update is not unexpected as the e-commerce platform had previously put out
a call to hire ShopeeFood delivery partners
 in Malaysia. Following the reveal today, Shopee said that the service is presently available only in Klang Valley, but will continue to expand across Malaysia in the near future.

If you’re one of the lucky few who can access ShopeeFood after updating your Shopee app to the latest version, you’ll find the new service among the feature tiles in your main Shopee page within the app. From there, you’ll be able to find a selection of restaurants that are offering their services through ShopeeFood, and you can go ahead and put in an order between 10am to 10pm. It is also possible to monitor the status of your order through the app, from the time you submit your order to when it is picked up by the delivery partner, and when it is delivered.

The current list of merchants encompasses a range of cuisines, such as fast food, local and international dishes, beverages, as well as desserts. Popular stores include Sushi King, Kenny Rogers Roasters, and Nam Heong.

Users should note that their orders will also include a service fee on top of the delivery fees, “applied to ensure the best quality of service from ShopeeFood”. You can view this service fee during the checkout process of your order, and it may vary for each merchant.

In celebration of this launch, Shopee is currently giving out both free delivery and food discount vouchers. The free delivery vouchers do not require you to spend a minimum amount, and give you up to RM3 rebate on the delivery fee. Meanwhile, the food discount vouchers offer up to RM8 rebate, provided you meet the minimum spend requirement.

Customers who have enquiries can contact Shopee’s customer service at 03-2777 9222 or reach out to the e-commerce platform through its
Help Centre
.

(Source: Shopee [
1
,
2
])

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Alex Cheong Pui Yin

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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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KiplePay And Bank Islam Collaborate To Provide E-Payment Services

(Image: Digital News Asia)

Green Packet Bhd subsidiary KiplePay Sdn Bhd has announced a partnership with Bank Islam to provide e-payment facilities for universities. This partnership would make future transactions at university campuses faster, easier, and more convenient.

A licensed Bank Negara Malaysia e-wallet issuer, KiplePay was the pioneer for launching this cashless platform at Universiti Utara Malaysia (UUM). Since its founding in 2017, it has already served more than 515,000 users nationwide and is now set to serve even more. By the end of 2019, another three to five universities would be joining UUM in this initiative.

For starters, KiplePay would allow Bank Islam account holders to pay via QR codes and to reload their phone credit. Additionally, this platform would enable students and lecturers alike to perform a variety of transactions ranging from paying for purchases, settling zakat payments, to booking facilities.

This joint collaboration was proof of Bank Islam’s transformation into becoming a digital Islamic bank of choice by the end of 2021, Chief Executive Officer Mohd Muazzam Mohamed commented. “Ultimately, we are creating partnerships that are aimed to enhance customer experience and further drive the country’s cashless society and financial inclusion agenda.”

(Source:
Digital News Asia
)

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FOMCA Urges Policyholders To Report Hike In Premium For Medical Insurance Policies

(Image: Channel News Asia)

The Federation of Malaysian Consumers Associations (FOMCA) has urged medical insurance policyholders to lodge a report with the association if they encounter any price hikes in their premiums. Additionally, they should contact their agents and make enquiries if the increases were made without prior notification.

“FOMCA has been recently receiving many complaints from medical insurance policyholders of indiscriminate increases in the price of their premiums. We are concerned of how extensive this issue is and how many consumers have been affected by the price increase,” said the president of FOMCA, Datuk Dr Marimuthu Nadason.

(Image: New Straits Times)

Marimuthu further added that the present is not the right time to increase insurance premiums as many consumers have been severely affected by the conditional lockdowns, either through loss of jobs or reduction in incomes. He also stressed that it is inappropriate for insurance companies to raise premiums to make excessive profit during a time of difficulty for consumers.

Even prior to this, Marimuthu has repeatedly voiced similar concerns. At the end of 2020, he had appealed to insurers to defer the price hikes to a later date, alongside other organisations such as the
National Association of Malaysian Life Insurance and Family Takaful Advisors (Namlifa)
 and
Malaysian Medical Association (MMA)
.

Marimuthu further said that FOMCA will launch a national campaign to urge Bank Negara Malaysia (BNM) to curb the increase in medical premiums if they receive many complaints regarding this issue. “As a responsible regulator, Bank Negara should have already pre-emptively directed insurance companies not to increase premiums at this point to protect consumers,” he said.

Individuals who wish to inform FOMCA about the price hike in their medical insurance premium will need to provide the name of the insurance company, current annual insurance premium, and new annual insurance premium in their report. The details can be emailed to
[email protected]
, or submitted through an
online form
.

(Source:
FOMCA
,
New Straits Times
)

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Debt

Let’s be honest – most us love to swipe that plastic card but detest paying the bills. But as we get older, we soon come to the realization that credit cards are not akin free money, and the 15% – 18% interest rate is no joke. Oh where is a time machine when you need one?

For spend-a-holics who are already in the danger debt zone, there are several ways for you to vanquish all of your credit card debt (no, physically cutting all of your ten credit cards will not make the problem go away). One of the ways is by consolidating your two, three…or ten credit cards debts by taking on a personal loan, such as a
Bank Islam personal loan
 or a
HSBC personal loan
.

Most banks would actually push you to take on a hefty personal loan – not for your Paris trip, mind – but to settle off your multiple credit card debts. But should you do it?

When you should say NO to a personal loan

When the interest is higher

Credit cards are quoted on a fixed rate basis, while personal loan is quoted on a flat rate basis. What’s the difference? With a flat interest rate, the interest is calculated based on your principal amount.

Example: if you borrow RM20,000 from the bank, the interest will be calculated from RM20,000 throughout your payment tenure. Yes, even if you’ve already paid half of the amount, your interest will still be calculated from RM20,000.

Unless if you have more than two credit cards, both at 18% p.a. interest rate, then a personal loan might not offer the best interest rate for you after all. As a rule of thumb, always multiply the flat rate by 1.8 – 1.9x to compare it with the fixed rate. If it’s higher than your credit card’s interest rate, then don’t bother going down that road.

When your debt is manageable

First time card users might have quite a shock at the sight of their thousands of ringgits debt printed in black and white. But relax, if you only have less than two credit cards to manage and you can more than afford to pay them off in less than 1 year, it might not make sense to consolidate.

When you’re not facing the real problem

Just like removing the junk on your bed and shoving them into your closet is not “cleaning up”; simply shifting your debt around, without facing the real problem (your spending!) will just enable them to accumulate elsewhere. There’s no point in consolidating your debt if you can’t manage them properly.

When you should say YES to a personal loan

When it’s simpler

If you keep missing your loan payments because you are too overwhelmed to keep track of them all, then consolidation via
personal financing
 might be a good idea – this means you only have one monthly payment to make, one due date, and only one interest rate.

When you’re saving money

Here’s an example:

Situation A: No consolidation

You have maxed out three credit cards, let’s call them card A, B, and C, and now you owe the bank RM15,000 (RM5,000 for each card). All cards have an interest rate of 18% p.a., and you are currently paying RM200 per month for each card.

So your total monthly repayment: RM600 per month

Based on our credit card debt calculator, you will need to continue paying RM600 for the next 32 months (close to 3 years) to clear off your debt. The total interest rate you’ll be paying is RM3,941.91

Situation B: Consolidate all of those debt with a personal loan

You apply for RM15,000 personal loan from Bank D at 8% flat rate and you use this to pay off all your credit card debts.

Your total interest cost will be 8% x RM15,000 x 3 years = RM3,600.

In summary, you have to pay RM18,600 for 36 months. That’s RM516.70 per month.

In this case, consolidating your debts make more sense because you’ll be paying less for your interest and monthly installments.

However, different banks have different rates when it comes to personal loans. Try comparing them and do a bit of math before you take on a personal loan.

If you have decided to consolidate your debt by applying for a personal loan, then you must take these disciplinary actions:

1. Cancel all of your credit cards but keep the best one for emergency purposes. (PS: Do take note that the sale season is not an “emergency”).

2. Make sure that you pay your personal loan installments on time to avoid any late payments.

What other options can I take?

Ah! glad you asked. A much better way is by applying for a 0% balance transfer credit card and transfer your credit card debt onto another card – at 0% interest rate (no more 18% p.a. yay!). However, this also means you need to have a credit card onto which to transfer that balance. Should you feel neither a personal loan nor a balance transfer can help you out of the monumental fix you are in: try reaching out to the folks at

AKPK
.

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Balkish Rosly

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Maybank Islamic Revises Benefits For Ikhwan Amex Platinum, To Include 8% Cashback For Online Spend

Maybank has announced a revision to the card benefits of its Maybank Islamic Ikhwan American Express (Amex) Platinum credit card-i, soon allowing cardholders to earn 8% cashback of up to RM100 per month on online spend. In addition, selected transactions are eligible for up to 3x TreatsPoints for every RM1 spent.

Set to take effect starting from 12 December 2022, this latest revision will see the Maybank Islamic Ikhwan Amex Platinum credit card-i offering the following benefits:

8% cashback on online spend, capped at RM50 per month (excluding Ramadhan and Syawal months)

8% cashback on online spend, capped at RM100 per month (only for Ramadhan and Syawal months)

3x TreatPoints for every RM1 spent on selected eco-friendly merchants (excluding online spend)

2x TreatsPoints for every RM1 spent on selected retail transactions (excluding online spend, petrol, utilities, education, and takaful)

1x TreatsPoints for every RM1 spent on petrol, utilities, education, and takaful (excluding online spend)

RM25 cashback as welcome gift for new cardholders, awarded with minimum cumulative spend of RM300 on any retail spend within 60 days of approval

In comparison, the existing Maybank Islamic Ikhwan Amex Platinum card only allows you to earn 2x TreatsPoints for every RM1 that you spend on retail payments, and 1x TreatsPoints on every RM1 spent on petrol, government, utilities, education, and takaful payments. As you can see, the upcoming revision will see a
huge
 improvement to the card’s benefits once it kicks in, allowing you earn cashback on online spend.

Aside from card benefits, Maybank will reduce the annual income requirement for the Maybank Islamic Ikhwan Amex Platinum card-i as part of the revision. This requirement currently stands at RM60,000 p.a. (equivalent to a monthly salary of RM5,000), and will be lowered to RM40,000 (monthly salary of RM3,333), thereby opening the card up to more eligible applicants.

Meanwhile, the card’s other features will remain unchanged, including its lifetime fee waiver and provision of a free Maybank Touch ‘n Go Zing card (automatic reload card that is linked to your Maybank Islamic Ikhwan Amex Platinum card-i). You will also be able to continue enjoying services such as its balance transfer and express autopay facilities.

With this, the Maybank Islamic Ikhwan Amex Platinum credit card-i is effectively transformed from a regular rewards points credit card to perhaps one of the
best cashback credit cards for online shopping
. By our first impressions, it even goes head-to-head with even the hugely popular Maybank 2 Gold/Platinum Amex card, which lets you earn 5% cashback on all weekend spend, including online spend (capped at RM50 per month). We’ll take a closer look at the card for our review, so keep an eye out for that closer to the launch date.

(Source:
Maybank
)

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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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    Jeffrey

    9 months ago

Hi.online spend is it included e wallet top up?

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    Pang Tun Yau

    9 months ago

    Reply to

        Jeffrey

E wallet top ups have been excluded from cashback/rewards from all MBB cards for a few years now (except the Grab Platinum Mastercard)

2

Reply

    Richard

    9 months ago

8% Cashback For Online Spend promo is valid until ?

0

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    Pang Tun Yau

    9 months ago

    Reply to

        Richard

It’s a revision to the card features, so it’ll remain valid until Maybank revises the card benefits again (which they must provide 21 days notice).

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    Eng Wei Zhe

    9 months ago

Is online hotel booking counted as online booking?

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    Pang Tun Yau

    9 months ago

    Reply to

        Eng Wei Zhe

It’s Maybank’s first time offering “online” as a cashback category, so it’s best to look at the card’s T&Cs when they’re released to see what conditions fall under that category. That said, the safest, surest way to know is to try it when the card launches and see what works and what doesn’t.

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Bank Negara Once Again Holds OPR Steady At 2.75%

(Image: Malay Mail/Yusof Mat Isa)

The Monetary Policy Committee (MPC) of Bank Negara Malaysia (BNM) has once again decided to maintain the country’s overnight policy rate (OPR) at 2.75% in its March 2023 meeting today. Accordingly, the ceiling and floor rates of the OPR will also be held steady at 3.00% and 2.50%, respectively.

In its statement, BNM explained that it finds the current OPR to still be accommodative and supportive of Malaysia’s economic growth, hence the decision to keep it at 2.75%. Additionally – just as the central bank had said during the previous MPC meeting in January – it still needs more time to assess the impact of the cumulative OPR adjustments that have been made back in 2022, given the lag effects of monetary policies on the economy.

BNM also noted that while Malaysia’s economy enjoyed a strong growth of 8.7% in 2022, its economic expansion is expected to moderate in 2023 amid a slower global economy. As such, Malaysia’s growth will continue to be driven primarily by domestic demand, while household spending will be supported by better employment and income prospects.

The prospects of the tourism industry, too, will likely improve with more tourists arriving, whereas investment activities will be supported by the continued progress of multiyear infrastructure projects. The implementation of projects from the recently re-tabled Budget 2023 may provide a boost to the country’s economy as well.

(Image: The Star)

“Downside risks continue to stem mainly from global developments, including from weaker-than-expected growth outturns or much tighter and more volatile global financial conditions,” BNM noted, adding that the global economy continues to be weighed down by elevated costs pressures and higher interest rates despite some positive developments, such as the reopening of China’s economy and better-than-expected growth for some major economies.

 As for inflation, BNM predicts that while both headline and core inflation will gradually decline over the course of 2023, it will continue to be elevated. This is attributed to factors such as lingering demand and cost pressures. “The extent of upward pressures to inflation will remain partly contained by existing price controls and fuel subsidies, and the remaining spare capacity in the economy,” said the central bank.

Finally, BNM reassured that the MPC will continue to monitor Malaysia’s evolving economic conditions and their implications to the domestic inflation and growth outlook. In turn, Malaysia’s monetary policy settings will be calibrated accordingly to balance the risks to domestic inflation and sustainable growth.

Back in 2022, BNM had implemented four consecutive OPR hikes in
May
,
July
,
September
, and
November
 to raise the rate back from an
all-time low of 1.75%
 to 2.75%. It subsequently decided to
pause the rate hike in January 2023
 to assess the impact of the earlier increases made.

(Source:
BNM
)

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Alex Cheong Pui Yin

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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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Touch ‘n Go Parking Surcharge To Be Abolished In Stages

(Image: Malay Mail)

The 10% surcharge for parking fees imposed on users for using Touch ‘n Go cards at certain parking facilities will finally be removed. The abolishment will be done in stages, due to existing contracts with certain carpark operators. Since this charge is inserted into contracts between all parties, removing them immediately is a challenge – thankfully the Domestic Trade and Consumer Affairs have begun addressing this issue.

At Parliament today, Deputy Domestic Trade and Consumer Affairs Minister Chong Chieng Jen said that the ministry will oversee the abolishment of this surcharge, especially on new contracts handed to car park operators and other parties. “New contracts will not require the surcharge while existing contracts that impose the surcharge will be ended and no longer impose the surcharge, and it will be done in stages,” he said. In addition, any renewed contracts must ensure that the surcharge cannot be passed on to customers.

(Image: The Star)

The parking surcharge has long been an issue, with Malaysians not happy that a cashless transaction has an additional charge imposed – the opposite of what developed nations do. Touch ‘n Go
in 2017 stated
 that this surcharge is a “cost recovery mechanism mutually agreed upon by parking operators, building owners, system integration vendors, and Touch ‘n Go”.

(Source:
Malay Mail
)

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Pang Tun Yau

Pang Tun Yau

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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Sixth PIKOM #MYCYBERSALE Will Be Held From 27 September To 3 October 2019

(Image: DNA
)

The National Tech Association of Malaysia (PIKOM) has announced that this year’s edition of #MYCYBERSALE – dubbed as the biggest online sale in Malaysia – will be held from 27 September until 3 October. Consumers can find a wide array of products at slashed prices, other exclusive deals, and a chance to win a Proton X70 through a lucky draw.

Following the success of Singles Day in China and Cyber Monday in the US, the Malaysian government initiated #MYCYBERSALE in 2014 to spur the growth of the national e-commerce industry. This event aims to generate online shopping demand from consumers, encourage SMEs to adopt e-commerce, and increase online shopping revenue.

What’s more, #MYCYBERSALE will take place in Taiwan concurrently this year. Taiwan is the first regional partner of #MYCYBERSALE, with more countries are expected to follow suit in the future. “In recent years, we noted increasing interest from neighbouring countries to have their merchants included in this cybersale. With this, Pikom came up with the idea of a regional cybersale, calling it #MYCYBERSALE Asia, starting this year,” said Ganesh Kumar Bangah, PIKOM Chairman.

FPX (an online payment gateway system owned by PayNet) is the title partner of this year’s #MYCYBERSALE. FPX is sponsoring attractive prizes to be given away for this year’s #MYCYBERSALE, including two Proton X70 cars and cash vouchers worth RM50,000 through a lucky draw.

Ganesh also said that PIKOM will hold a mini #MYCYBERSALE before the main event that will allow them to leverage community partners like Boost and Touch ’n Go. At the same time, major merchant engagement programmes will be held in major cities in the country via the PIKOM-eCommerce fairs.

(Source:
DNA
,
Amanz
,
econsulatancy
)

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Hayatun Razak

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Maybank Enables Visa Direct, Western Union For Overseas Funds Transfer On MAE App

(Image: New Straits Times)

Maybank announced that it has added Visa Direct and Western Union for its overseas funds transfer feature on the MAE by Maybank2u (MAE) app. With this, the bank hopes to offer more convenient and secure ways for its customers to transfer money to family and friends who are residing abroad.

In its notice, Maybank shared that with the addition of the two new options, customers using the overseas funds transfer feature on the MAE app will now be able to access up to five ways to conduct their remittance transactions, namely:

Foreign telegraphic transfer (FTT)

Maybank overseas transfer (MOT)

Maybank-Bakong transfer (specifically for instant money transfers to Cambodia)

Visa Direct

Western Union

Briefly, Visa Direct lets you transfer funds of between RM300 to RM7,500 per day directly to overseas Visa credit, debit, and prepaid cards in 200 countries, with fees from RM10 onwards. Meanwhile, Maybank customers can use Western Union to transfer money (up to RM9.999 per day) directly to bank accounts in 12 countries, or to over 500,000 Western Union agent locations in 200 countries. Fees begin from RM5 upwards.

To tap into these new functions, go ahead and launch your MAE app, then tap on “Quick Actions”, followed by “Overseas”. Select the country that you want to transfer to, your debiting account, transfer amount, currency, and preferred transfer mode. You’ll also be required to fill in your transfer details. Once done, approve the transfer with Secure2u.

Note that you must update your MAE app in order to enjoy these latest features. Maybank has been gradually moving various functions from Maybank2u app to the MAE app as there are
plans to phase out the Maybank2u app
, leaving the MAE app as Maybank’s only mobile banking app. However, there is currently no set timeline for this move.

(Source:
Maybank
)

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HLB Installs Talking ATMs In Brickfields & Pulau Tikus For Visually Impaired Customers

(Image: The Sun Daily)

Hong Leong Bank (HLB) has installed “talking ATMs” to aid the visually impaired members of the community. The first of its kind in the country, HLB has set up a machine in Brickfields and Pulau Tikus each, as these are areas with a large number of visually impaired individuals.

To assist the visually impaired, the ATMs are equipped with additional hardware such as a headphone jack and braille keypad. “This enables visually impaired customers to be guided by voice discreetly through their headphones or earphones,” explained HLB group operations and technology director Dominic Mascrinas. “The talking ATM also has a software component to simplify the transaction flow and provide audio confirmation of details entered before finalising the transaction.”

 (Image: HLB)

 (Image: HLB)

Besides that, the talking ATM works exactly like how a normal automated teller machine would. “It supports three languages – Malay, English and Mandarin – and provides four main transactions, which are balance inquiry, withdrawal, pin change and bank transfer,” said Mascrinas. “The terminals can also be used by a sighted person.”

Mascrinas further revealed that HLB and its partner NCR Corporation had roped in two visually impaired employees for the development of the project. “The two employees were involved in the piloting of the ATM process and their views and feedback were taken to help us fine-tune the user experience journey,” he said.

In its
post on Facebook
, Hong Leong Bank said that as the customers’ community bank, it aimed to provide services that are inclusive and convenient for all individuals. “We will continuously find ways to upgrade our facilities to serve our communities and make banking more accessible to all,” the post read.

(Source:
The Star
)

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Things You Should Never Buy Over the Internet

Buying things online seems the more convenient choice. However, there are some things that are too personal or too dear to be bought online. These include items of great value or items that need to fit your specific taste and requirements.

As such, here are some of the things that you should never consider buying online as the risk of regret is too great:

Shoes

Although all shoe sizes are based on the length of your feet, what truly determines their wearability is actually the shoe’s cutting. That is why you sometimes need different sizes for different shoes.

For example, a person with a size 7 feet length can fit into a 6.5 sized shoe for one type yet can only fit in a size 8 for another type. Not to mention the different numbering systems in use across in different countries.

Medicine and Drugs

Nowadays, it is possible to buy all sorts of controlled and uncontrolled medicines online. However, due to the abundance of counterfeit stores selling drugs of questionable source and manufacturing procedure, it is best to stay away from them.

This is because you never know what has been added to these drugs, or whether they even contain what they claim to have. The most dangerous of all is that they are not subject to any regulation and may even poison you. So stay away unless you’re a trained professional pharmacologist.

Perfume and Fragrances

If you regularly use only one fragrance and are buying it online to top up, then buying online is completely fine. However, if you are undecided or want to experiment with new fragrances, then buying online is not a wise choice.

You should always take the time to actually smell the perfume, eau de cologne or eau de toilette before deciding on which to buy rather than judging a fragrance by their description, packaging or colour. Which is impossible to do over the internet with current technology.

Tailored Clothing

It’s there in the word, isn’t it. Whether you want to make a formal suit, evening dress or costume, try never to hire an online tailor to make them. This is because tailor made clothing requires a lot of accuracy and the best way for that to happen is for there to be fitting, which are sessions where your tailor puts the finished product on you and then makes the final adjustments so that the outfit will fit you like a glove.

This cannot happen if you merely give your measurements to an online tailor who cannot meet you in person, which often results in ill fitting clothes.

Despite the rapid progression of technology, some things are still better done the old fashioned way, as they ensure your financial security. However, that is no excuse not to keep up with the times, check out Malaysia’s best
home internet packages
 from our site.

Have anything to contribute to this article? Do share your thoughts with us in the comments section down below!

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Michelle Chee

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Some useful money-saving home renovation tips

Thinking of upgrading your home?

Besides your workplace, your home is another location you spend most of your time in. Needless to say, it will not escape from some degree of wear and tear throughout the years.

Furthermore, if your house was constructed way back in the day its design might no longer be as contemporary as you’d like it to be, however much it charmed you when you first bought it.

All this may make you decide to upgrade it at one point in time or another. Although potentially costly, renovating your home actually increases its market value, giving you back almost everything you’d spent on it.

So you’ve decided to remodel. Now what?

First off, try to gauge how much of the task at hand can you carry out by yourself. Going DIY on certain simpler aspects could save you a fair amount on labour costs. Don’t look at it as a chore, but a fun hobby that the whole family can get involved in.

Next up: Budget, budget, budget. Assess your financial health to calculate how much you can actually afford to spend on the project. Once you’ve arrived at that amount, don’t be tempted to budge from it if you find that it differs from what others had spent. Everyone’s situation is different, and so are their needs.

Find the right partner

After this you’ll need to source for a good contractor to actually carry out the job. But never speak to just one. Shop around as much as you’d like, with three as a bare minimum.

And when you do consult them, ask them plenty of questions as this will give you greater insight into their capabilities (or lack of them). Getting a less than competent contractor could result in mistakes which might not be apparent now, but down the road when you’ll have to dig into your own pocket to fix them.

Make your choice and stick to it

When you’ve made up your mind on whom to engage, you and your contractor can then discuss how you’d like your remodelling to be done. Be sure to think this through thoroughly before any actual work begins. Making design changes mid-project is going to cost you dearly.

So there you go, some practical tips on how to save money on home improvement from the RinggitPlus team. Stay tuned for our next article, where we’ll talk about the various methods you can use to finance your home renovation project as well as their pros and cons.

Image source:
www.lifestylearena.com

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CIMB Foundation Releases Be$MART App To Help Youths Plan Finances Effectively

(Image: The Star)

CIMB Foundation has launched the Be$MART mobile app, a personal financial guide and planner designed to help youths better manage their finances. Be$MART generates monthly reports on users’ spending history, gives them recommendations for improvement, and provides them with financial tips and articles.

The app includes features such as budget planning, income and expenses tracking, as well as goal tracking. In addition, users will also be able to keep tabs on recurring transactions and even schedule reminders for them.

In a statement, CIMB Foundation CEO Datuk Hamidah Naziadi said that youths comprise almost half of the country’s population. “As future leaders and nation builders, it is important to empower them to take charge of their own financial health,” she added.

(Image: The Star)

According to the foundation, the mobile app supports its existing Be$MART financial literacy programme for college and university students, and aims to reach 22,000 downloads within one year.

Moreover, Datuk Hamidah stated that Be$MART is also in line with the
National Strategy for Financial Literacy
, launched by the Malaysian government in July to elevate the level of financial literacy among Malaysians.

Youths can now download the Be$MART app via the
App Store
 and
Google Play
.

(Source:
The Star
)

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Find a Home Surrounded by Natural Landscapes at Eco Terraces, Penang

Everyone has their own wishlist when it comes to their dream home. Some want a contemporary studio in the middle of a bustling city, while others prefer a larger home surrounded by a community. Then, there are always those who look forward to returning to a home surrounded by the calming synergy of an urban residence and green landscapes.

If you fall into the last group of people, you may want to consider finding your home at
Eco Terraces, Penang. Nestled within the suburbs of Georgetown, this condominium boasts an exclusive 333 condominium units and sits on 12.79 acres of landscaped greenery, of which only 30% is devoted to land development and the balance 70% remains natural and green.

Built by EcoWorld, Eco Terraces holds a coveted  Green Building Index certification that speaks to its sustainability and environmentally-friendly development concept.

Furthermore, this low-density condominium sets itself apart with carefully curated on-site amenities such as extensive gardens, wellness facilities with an on-site nurse, and ample connectivity to the town, making it well-suited for a residential community.

Verdant Gardens To Rejuvenate the Mind, Body, and Soul

As you drive into the gated residence, you would be hard-pressed to miss the lush green landscapes that stretch in every direction. Set upon undulating terrain, the gentle slopes of the land are home to over 10 different garden and aqua facilities, not including the standard swimming pool and gym that are commonly found recreational facilities.

Among the 10 outdoor facilities designed to rejuvenate residents are the serene Meditation Deck for morning sessions of mindfulness, the colourful playgrounds for children to play in, the Picnic Lawn for lazy afternoon sprawls, a stunning Gazebo for languid senior tai chi sessions, and a BBQ Deck for Sunday family lunches.

More stunning pockets of emerald flora include the Eco Pond, herb garden, orchard, trekking trail, and even a putting green for golf enthusiasts. What’s more, these carefully designed garden landscapes are not the only on-site facilities available to boost the mental and physical wellbeing of children, adults and seniors.

Experience A Myriad of Wellness Facilities In-House

Built with a residential community in mind, the heart of Eco Terraces is the on-site Care Hub that provides 24/7 general wellness services by a strong staff of 30 licensed and qualified nurses.

From monitoring blood pressure, blood sugar, cholesterol, and more to first-aid and simple emergency procedures, the Care Hub helps take care of you and your loved ones in the comfort of your own home.

Furthermore, residents are also able to enjoy a myriad of activities organised by the Life Space that is suited to their age group. Senior residents are encouraged to join fitness classes and workshops to maintain their mental and physical health, while young adults are privy to relaxing yoga sessions and invigorating HIIT classes at the gym. Young ones are not left out either, with dedicated day-care services available onsite to keep their little minds stimulated and busy.

Enjoy Ample Connectivity to Schools, Shopping Malls, and Other Amenities

While the on-site facilities are many, residents of Eco Terraces also enjoy easy access to nearby amenities like schools, restaurants, grocers, medical facilities and banks. Nearby schools include Prince of Wales International School, INTI International College, Universiti Sains Malaysia, and Chung Ling High School. Some of the F&B establishments in the vicinity are Starbucks and McDonald’s, while the grocers available include Sunshine Farlim, Queensbay Mall, Air Itam Market, Hero Market, and Paya Terubong Morning Market. For medical facilities, you have easy access to Pantai Hospital, Loh Guan Lye Specialist Centre, and Lam Wah Ee scattered throughout the neighbourhood.

Further enhancing the property’s connectivity is the upcoming Paya Terubong Paired Road (currently being built) that links Eco Terraces to Ayer Itam and Bukit Jambul for easy, breezy, stress-free commutes.

Own A Home For As Low As RM78* Per Day

While the condominium offers a variety of units, new homeowners and small families may want to look out for the Type A and Type B units that offer a sprawling space of 1,095 sq. ft. to 1,366 sq.ft with:

3 rooms

2 bathroom

2 parking spots

Starting at RM508* per sq foot, these limited units are now available from only RM2,340* per month – that amounts to nearly RM78* per day!

Prospective homeowners can also take advantage of the additional rewards and discounts nestled under the government’s Home Ownership Campaign initiative to enjoy further savings such as a 10% discount, easy loan and zero down payment, stamp duty exemptions on MOT and loan agreement. Best of all, it’s move-in ready.

If you’re looking for a home that offers a trifecta of urban design, onsite wellness, and lush surroundings of nature, you may want to put these spacious, ready-to-move-in units of Eco Terraces at the top of your list!

*Terms and Conditions apply.

Register your interest for a home at Eco Terraces here.

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Maybank To Charge Customers For Using Cash And Cheques For Card And Loan Repayments

Maybank will be charging a fee for customers using cash and cheques for repayments of credit card or loan financing starting 1 October this year.

If the transaction is made over-the-counter (OTC), the fee will be RM2.00, while RM0.50 will be charged for transactions via Smart Recycle Machine (SRM) or Cheque Deposit Machine (CQM).

Types of Fees & Charges

Amount

Credit Card and Loan/Financing Repayment using Cash or Cheque via Over-the-Counter (OTC)

RM2.00

Credit Card and Loan/Financing Repayment using Cash or Cheque via Smart Recycle Machine (SRM) / Cheque Deposit Machine (CQM)

RM0.50

However, the over-the-counter charge is waived for senior citizens, the disabled, and those who do not have access to their current account or savings account with the bank.

(Source: Cambodia Asia Life)

As such, customers are encouraged to make payments via the Internet or mobile banking (M2U or M2U App) and the automated teller machines (ATM), which are free of charge.

This move by Maybank is likely aimed to encourage the use of mobile banking. It is not the first time a Malaysian bank has made such an announcement as similarly,
Public Bank will start charging customers
 using cash and cheques for card and loan repayment effective this April.

(Source:
Maybank
)

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Great Eastern Launches Great Generation Care CI Plan That Provides Coverage For Three Generations

Great Eastern has launched the first-ever critical illness insurance to provide comprehensive coverage for three generations of a family: you, your children, and your parents. Dubbed the Great Generation Care, it essentially offers you coverage for a range of critical illnesses, with complimentary coverage extended for your children. You can also opt for an additional rider for your parents, with no medical underwriting required.

As the insured, you will be protected against 45 critical illnesses, including cancer, heart attack, and stroke. The plan also includes coverage against death or total and permanent disability. In both scenarios, you will receive either 100% of the basic sum assured, or total premiums paid in one lump sum – whichever is higher.

Your children, on the other hand, will get complimentary coverage against the same 45 critical illnesses, as well as an additional 11 child illnesses, such as severe haemophilia and severe asthma. The coverage is automatically extended to all your children, including your future kids, up until the age of 18. Your children’s coverage will also remain independent of yours, which means that it will not reduce your own coverage.

To offer coverage for your parents, however, you need to add the Parent Protect Rider, which requires no medical underwriting. The rider will cover your parents against three advanced stage critical illnesses: Alzheimer’s disease/severe dementia, cancer, and Parkinson’s disease.

In addition to the above coverage, the Great Generation Care also offers emotional support benefit that you can claim under your children and parents. This benefit will entitle you to an extra 1% of the basic sum assured as a form of additional financial assistance. Also, when your policy matures at the age of 80, you will receive either 100% of the basic sum assured or the total premiums paid for the basic plan, whichever is higher.

The
Great Generation Care
 is open to those aged between 17 to 60 years of age. However, do note that this plan is a
limited-offer product
, and is available only until the 31 March 2020. To find out more, you can head on to Great Eastern’s website.

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Alex Cheong Pui Yin

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ShopeePay Revises Coins Cashback Campaign For DuitNow QR Payments

ShopeePay has revised the amount of Shopee Coins cashback for DuitNow QR payments, from 3% previously to “up to 300 coins cashback” per transaction. This comes only a few days after ShopeePay revised the 3% rate to 1% on 1 May.

With the revised cashback amount, each user will be able to earn up to 300 coins cashback, three times per day. However, it isn’t known what the rate of coins cashback is.

Other details of the cashback, meanwhile, remain unchanged. The coins cashback will be available daily for the first 10,000 offline transactions on a first-come, first-served basis. There’s also still no mention of the end date of this offer. Additionally, there’s also no mention of the minimum spend that users will have to meet in order to qualify for the coins cashback.

As usual, you will also not be able to stack the cashback with any other rewards. You will also not be eligible for the cashback if you have already used any 1 SEN ShopeePay voucher rewards.

Most importantly, you can only earn the coins cashback by paying using ShopeePay’s Scan function on a ShopeePay or DuitNow QR code. It will not work if the merchants scan your unique QR code. If your transaction is eligible to earn coins cashback, the amount will be shown to you on the payment confirmation page. The coins will then be instantly credited to your ShopeePay account.

The
coins cashback promotion
 – which has been running since January this year – was introduced as part of a New Year’s Day deal, and was limited to 20 redemptions per day.

(Source:
ShopeePay
)

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Nur Adilah Ramli

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PayNet’s DuitNow QR Coming Soon As A Universal QR Standard For Payments

Soon, there will be a common QR standard that will work for customers of all participating banks and e-wallets. With the introduction of the DuitNow QR code, customers can pay by scanning the universal DuitNow QR code from their mobile banking or e-wallet app of choice.

DuitNow QR provides customers of all participating banks a quick and easy way to make cashless payments using their mobile banking apps – similar to how the Maybank QRPay feature works. However, customers won’t need to match a specific QR code to different mobile banking or e-wallet apps each time as the DuitNow QR code can be universally used for payments from all participating banking and e-wallet apps.

Meanwhile, merchants will only need to display the one interoperable DuitNow QR code for their customers. They no longer need to display a unique QR code for each of their accepted methods of mobile payment – solving the potential problem of payment counters being overcrowded with scores of various e-wallet QR code signs and stickers.

DuitNow QR is developed by the country’s shared payments infrastructure provider, PayNet – the same entity that launched the
DuitNow service
 in December last year. DuitNow allows users to instantly transfer funds within their bank’s online transfer facilities, using just their mobile or IC numbers. DuitNow QR is seen as an extension of the DuitNow service.

Public Bank was the first bank in Malaysia to enable the DuitNow QR standard last week. Over the next 12 months, 33 more banks will be enabling the DuitNow QR in their mobile banking apps. According to Group CEO Peter Scheisser, PayNet has also received applications from 12 licensed e-wallet providers and non-bank acquirers to take part in the DuitNow QR system. “We expect to admit a number of those in the next six months,” said Scheisser.

(Source:
Fintech News
)

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Buy Fruits and Vegetables For Less With This Genius Guide!

For most of us, buying fruits and vegetables for your personal consumption can be a dull, repetitive task that is almost akin to watching paint dry. Unlike poultry, meat, or fish that are priced and categorised in accordance to their cuts, freshness, and country of origin, the process of selecting the freshest fruits and vegetables requires a little bit of finesse and careful research, just like
 choosing a fixed deposit account
 for your future – minus the weighing part.

If you are looking for a more effective and clever way of stretching your Ringgit when buying fruits and vegetables, read on as we will find out which option – be it pre-weighted or loose – offers the best value for your hard-earned cash.

But First…Why Do I Need to Care About My Fruit and Vegetable Intake?

 According to Health Minister Datuk Seri Dr. S. Subramaniam, more than 85 per cent of Malaysians do not consume enough fruits and vegetables daily
. The practice of eating fruits and vegetables daily can help in reducing the risk of many diseases including certain forms of cancer, cardiovascular disease, diabetes type 2 and obesity.

So, yes, should you feel that you belong in the subset of Malaysians who do not consume enough fruits and vegetables and would like to extend your lifespan by a few more years, then consider this your first step to leading a healthier lifestyle – by changing your eating and spending habits as well.

Right, So What Do I Need to Know About Fruits and Vegetables?

Pre-weighted Vegetables and Fruits

Admit it: we love fruits and vegetables that are arranged in a neat bundle, even more so when it comes with a pre-attached barcode, meaning that all we need to do is to simply pick your preferred bundle of greens or fruits and take it to the cashier. However, these pre-weighted vegetables and fruits often force you to buy more than you need, which will affect your budget in the long run.

What’s worse, you’ll be wasting your precious Ringgits as well if you don’t consume them all before they rot.

What with our warm climate, fresh produce often spoil easily even with proper storage methods. So, unless you always plan your meals around your purchased produce, you may be better off buying loose vegetables.

Loose Vegetables and Fruits

There will always be people who will proclaim that buying vegetables and fruits in their loose form can be a tedious task. But, seeing that the quantity of these produce are determined by you, there will be less wastage of food (if at all). In addition to that, you will also get to experiment on your meals by opting for a different selection of vegetables and fruits, making your meal planning a lot more exciting than usual.

How Do I Get More Value When Buying Fruits and Vegetables?

Getting more value from your fruits and vegetable purchasing activity is not difficult as long as you keep these five things in mind:

Have a Rough Portion Estimation

Before moving ahead with your vegetable and fruit purchase, it is always good to know how many people you’re planning to cook for. If you’re only cooking for yourself, the amount of fruits and vegetables should not exceed more than what you need to cook for one two or three meals at most, assuming you’re planning your meals ahead.

Use A Comparison App to Assist Your Purchases

Keep your shopping activities in check by using a grocery comparison app such as
Smart Shopper
 and
Catalogue Promotion
. These apps will allow you to search and compare prices of fresh produce between different stores and supermarkets without even leaving your bed. This way, you get to score the best bargains with minimum time and effort possible.

Invest in a Subscription Box/Bag

Think only big retail stores offer subscription boxes? Well, get ready to be mind blown! You can subscribe regular deliveries from fresh produce stores like
MBG Fruitshop
,
Organic For U Enterprise
 and
Planet Organics
. They offer delivery services of their best and freshest produce at various price tiers, so you can decide the amount of produce that you would like to receive on a monthly or weekly basis.

If you are unsure as to whether should you invest in a subscription service, you can always opt for a trial box/bag to test them out. Bear in mind that not all of these merchants allow fruits and vegetable substitution so if you are a picky eater, this might not be the best option for your dietary needs.

Read also :
 Buy These Things in Bulk to Save on Shopping

Purchase Direct from The Source

Fans of local getaways may have noticed that
 recreational farms
 and eco-restaurants (such as Cameron Highland) are now emerging as new and trendy insta-worthy destinations. So, you have time on the weekend, why not kill two birds with one stone by going on a trip and buying your vegetables and fruits direct from the source of produce?

Choose Frozen Fruits and Vegetables Instead of Fresh Ones

It has been drilled into us that fresh produce is always better than frozen ones. But, in the case of fruits and vegetables, that may not necessarily be true. Frozen fruits and vegetables are usually harvested when they are at the peak of freshness and then flash-frozen to prevent the vegetables from turning bad while preserving their nutrients at the same time.

They are quite affordable too, so you won’t need to worry about it costing a pretty penny especially when you need it to prep for your next meal.

Are There Any Other Ways to Save on my Fruit and Vegetable Expenses?

Alternately, you can try your hands at
 aquaponics
 or
 create your own edible garden
. It has to be said though – these methods will require a lot more time, effort, and a bit of gardening luck before you can enjoy your bowl of salad.

For an easier and more straightforward way of getting more benefits out of your fruits and vegetables, choose a cash back credit card to save on your overall spending. Don’t have one? Our
 cash back credit card’s comparison page
 is here to help!

Are there any other fresh produce and grocery tips that you would like to share with us? Let us know in the comment box below.

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CNY 2022: What’s The Financial Prediction For Your Chinese Zodiac This Year?

In just one more night, Chinese New Year 2022 will be right upon us, and it’ll be time to bid farewell to the Metal Ox and usher in the Water Tiger. As the Chinese community prepares to step into the brand-new year, one of the favourite things to do – aside from receiving angpao and eating CNY delicacies, of course – is looking up predictions on how you’ll fare in the upcoming days based on your Chinese zodiac!

Generally, these predictions will cover key areas like health, career, wealth, and relationships. Here, we’ll share the financial forecasts that have been made for each zodiac sign in 2022, so read on to find out if you’ll be rolling in
ong
!

Rat

Those born in the Year of the Rat will have to work hard for their money, but they won’t be short of opportunities. With some creative and careful planning, you may even be able to build up multiple streams of income by tapping into existing skills or resources that you already have, such as starting an online store. That said, make sure to not spread yourself too thin in your pursuit of wealth. If you’re investing, do not succumb to overdiversification as it may quickly drain your resources and cause cash flow issues. You can resolve this by limiting yourself to selected investment instruments that you are familiar with.

Ox

The Ox will start the year financially strong, and things will only get better from there as you mingle with the right people and expand your network! Given this positive outlook, you may want to take this time to build up your savings. Other than that, maintain a good balance while investing and spending your money. The temptation to spend or invest more may set in as you enjoy better finances, so you’ll do well to avoid getting too greedy. Take loans only if necessary, and stay away from risks like becoming a guarantor for someone.

Tiger

Individuals born in the Year of the Tiger will want to exercise extra caution in all financial matters as there is a high possibility of losing money this year. Take time to think things through before making any decisions related to money, and if you must invest, avoid high-risk instruments and keep the amount small. Focus on growing your savings instead so that you’ll always be prepared in the event of misfortunes. You may also be tempted to take shortcuts to quickly grow your income, but avoid from doing so as you may land yourself in lawsuits or end up with a bad name.

Rabbit

The Rabbit will be happy to know that this year is going to be a financially promising year for them, with plenty of profit to be made. If you’ve been thinking about diversifying your income or investment portfolio through various opportunities, this is a prime time to do so. You should also consider consulting a financial planner or an industry expert for better insights; they may be able to point out opportunities that you’ve missed, or open unexpected doors for you.

Dragon

Good outlook for your finances this year, with your income likely to grow! This year is also a good time to invest if you wish to, or to start your own business if you’ve been thinking about doing it for some time. However, be careful not to get impatient when seeking earning opportunities; make sure to go through legal means for all processes, and keep black-and-white records instead of just relying on verbal promises. Otherwise, you may run the chance of being conned.

Snake

Your finances may be a little shaky this year as there is a chance of you experiencing some financial loss, with diminished income as well. As such, you may want to focus on building up your savings for emergencies, or making investments for long-term rewards instead. Perhaps you could look into how you have been managing your finances so far, and how you can rejig things for it to better serve your needs. Do also scrutinise your expenses, and cut down on any unnecessary expenditure. Otherwise, look for ways to save even as you spend on daily necessities, such as tapping into cashback and rebate promotions, as well as bulk purchase discounts.

Horse

Year 2022 will be extremely kind to the finances of those who are born in the Year of the Horse! Look into diversifying your investments, and do not be afraid to take advantage of money-making prospects that come your way – especially for business owners. However, you may want to steer away from risky and unfamiliar investments when considering your options. Finally, there is a likelihood that you may be blessed with unexpected windfall, but do not make a show of your wealth to avoid getting robbed.

Goat

The predictions forecast a very favourable year for the finances of the Goat, with your income likely to double – or grow even more! Your networking skills will come in extremely handy, as it’ll open doors to stable income and profitable opportunities. Take time to also look into wealth management and diversification of your investments, but do not be tempted by greed. Some investment instruments may offer larger profits, but they often also come with much greater risk – ask yourself if you are comfortable with shouldering that kind of risk.

Monkey

Those born in the Year of the Monkey may encounter some threats of monetary loss, so you may want to keep a close eye on your investments this year, especially the high-risk ones. Whenever possible, consider cashing out after you’ve earned your expected profits so that you do not run the danger of losing everything at once. You may also be tempted to spend excessively; do your best to curb this urge, and channel some funds into your savings instead. Income-wise, you won’t see any significant increase, but it should be just enough to get you by comfortably – as long as you manage your finances carefully.

Rooster

The Rooster can look forward to a relatively good financial year, especially since there’ll be an increase in earning opportunities. However, this does not mean that you can be extravagant in your expenses because careless spending will cause you to lose money swiftly. Be extra vigilant with your budget and avoid loaning money to people whenever possible. Adventurous Roosters who wish to try out new options – such as new forms of investments or a new business – may do so as the stars are in your favour, but make sure to keep yourself well informed at all times.

Dog

It seems like the finances of the Dog will be relatively stable for 2022, with your income being directly influenced by the amount of effort that you put in. So, the harder (or smarter) you work, the more you’ll earn. That said, there is the likelihood of having to foot some emergency bills before the year is out, so you may want to set aside some extra cash for rainy days. In the same line of thought, be prudent about your expenses as well, and only get things that you need.

Boar

Individuals born in the Year of the Boar will need to work particularly hard at financial management as there will be an increase in their expenses, in addition to cash flow problems – especially during the first half of the year. If you’re an investor, focus on long-term goals to help tide you through 2022, as short-term investments will very likely result in losses. You may also want to stick to low-risk investments so that you do not overextend yourself. If you are the type to prepare financial plans or strategies, make sure to also review them regularly so that you can make quick adjustments when necessary.

***

Of course, year 2022 may end up not being anything like what these predictions say; nothing is absolute, after all. But we do hope that you’ve had some fun while checking the forecast of your zodiac. We’d also like to take this opportunity to reiterate that when it comes to your wealth, don’t leave things to chance. Proper financial literacy and prudent financial management are both key to a healthy bank account. Other than that, here’s us at RinggitPlus wishing you a prosperous CNY!

(
Adapted from:
Joey Yap
,
thechinesezodiac.org
)

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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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    Kadir bin Omok

    1 year ago

Harimau melambangkan keberanian, kemakmuran dan perpaduan bersesuaian dengan tahun 2022 tahun harimau yang terpilih dalam kelender tahun baru cina

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Malaysian Investors Contribute To Almost 18% Of Luno’s Global Trading Volume

Digital asset exchange Luno Malaysia has said that Malaysia is one of its fastest growing markets, with local investors contributing to approximately 18% of its total global trading volume of US$35 billion in the past decade. Revealed during Luno’s 10
th
 anniversary celebration event, this figure translates to about US$6.2 billion in participation from Malaysia, involving more than 73 million transactions in Bitcoin (BTC).

Aside from that, Luno also shared that it has recently onboarded over 12 million customers globally, with about 840,000 investors coming from Malaysia. It highlighted various other statistics related to its Malaysian investors as well, such as the fact that Malaysia has seen a rise in women crypto investors. Specifically, women investors make up 23% of Luno Malaysia’s customer base – higher than the global average of 19%, while male investors make up the remaining 77%.

Luno also noted that the biggest single transaction on its Malaysian platform stood at US$196,451 (approximately RM892,670 today). In comparison, the largest transaction made on Luno globally was a staggering US$70,966,330 (approximately RM322.5 million today).

General manager of Luno APAC, Aaron Tang said that Luno has definitely made “significant strides” in the Malaysian market since
relaunching in 2019
. These include the introduction of new coins – such as
Cardano, Solana
, and most recently,
Avalanche
 – as well as the roll-out of new features, like the
multiple coins feature
. He also stated that Luno – as a global entity – is truly excited for what’s to come in the next 10 years.

Meanwhile, country manager of Luno Malaysia, Scarlett Chai said that being able to celebrate 10 years in the dynamic world of cryptocurrencies is a significant milestone worth celebrating. “Our journey has been marked by the addition of numerous digital assets to our platform, made capable through our close collaboration with Malaysian regulators. We’re proud to be the largest and most trusted digital asset exchange in Malaysia, and will continue supporting all Malaysians throughout their crypto investment journey,” she said.

To celebrate Luno’s 10
th
 anniversary, Luno Malaysia hosted a panel discussion that consisted of experts such as the head of research at crypto data aggregator CoinGecko, Chan Zhong Yeng, as well as founder and director of Jirnexu, Liew Ooi Hann. The panel discussed various key topics, including the future of Malaysia’s digital asset landscape, and how crypto will play a part in people’s investment portfolio moving forward.

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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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    Joseph nh

    1 month ago

GOOD. NEED MORE INFO ON INVESTMEMTS OPPORTUNIES IN MALAYSIS. OK.

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Malaysia Airlines Trials New Single Token System, Powered By Facial Recognition

(Image: SITA)

Malaysia Airlines (MAS) has begun testing its new Single Token system at the Kuala Lumpur International Airport (KLIA). The system is essentially a security measure that utilises facial recognition, and it is expected to reduce the frequency of document checks for passengers. This would translate to a faster and more seamless airport experience.

As of now, the system is being tested on two MAS flights: MH070 to Narita International Airport (NAR), and MH052 to Kansai International Airport (KIX). It will be on trial over the next three months, until the end of April 2020.

If you’ll be flying to either of these airports during this period of time and would like to be one of the first Malaysians to try out the Single Token system, then head over to counters H5 to H8 at KLIA to sign up for the programme. Alternatively, you can also do so at the self-service kiosks.

What basically happens here is that your face will be scanned, and a “token” linked to your identity is created. Once that’s done, you will no longer be hampered by the need to repeatedly produce your travel documents for checks during your boarding journey.

Instead, you can just pass through various automated boarding gates, where your identity is easily verified with a quick face scan instead of a slower manual verification process. The speed with which the face scan is done also means better efficiency, especially during peak travel seasons.

(Image: SITA)

The Single Token system is a pilot project by the Malaysian Airports Holdings Bhd (MAHB), and it runs on the
Smart Path solution
 provided by SITA, a leading air travel IT and technology company. The system is also one of MAHB’s efforts to kickstart the Airports 4.0 digital transformation initiative, which promotes the creation of a smart airport that uses “single token” and big data analytics for a seamless passenger experience.

Prior to the trial of MAS’
Single Token system
, AirAsia had also introduced its Fast Airport Clearance Experience System (FACES) in 2018, at the Senai International Airport in Johor Bahru. The system also operates on facial recognition technology, and has now been made more convenient by allowing passengers to activate FACES via their smartphone app instead of at a kiosk or counter.

(Source:
SoyaCincau
)

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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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Public Holidays And Long Weekends Malaysia 2020

Here’s what all Malaysians hope for when it comes to public holidays: that we get as many public holidays falling close to the weekend as possible. Even if it’s a Thursday or a Tuesday that is declared a holiday, you can get a 4-day weekend by applying for just one day of leave on the Friday or Monday. Have a look at the upcoming public holidays in 2020 so that you can plan your holidays and getaways.

2020 won’t boast
as many long weekends as 2019
, but there are still a few dates to look out for when it comes to planning your leave in advance. There are three long weekends in May, and you can get 5 days off with just one day of leave thanks to the Wesak Day and Nuzul Al-Quran holidays. You can also get a 4-day weekend with one day of leave in both August and October.

So, make the most of your annual leave allowance and plan any upcoming trips around these days off. And if you are looking for a travel insurance policy for maximum peace of mind on your holidays, make sure to check out the
travel insurance plans available on RinggitPlus
!

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