13 Popular Brands You Never Knew Were Malaysian

Malaysia has been steadily carving its imprints on international platforms, we’ve produced world champions in a number of sports arena, international singers, world-famous fashion designer, intercontinental entrepreneurs, and countless other talents that could make anyone proud to call themselves Malaysian.

Did you know that Malaysia has also produced countless of globally-known brands that are often thought to have originated from foreign countries? Here are 13 homegrown brands that are secretly Malaysian:

1. Sushi King

No, it’s not a Japanese chain or an American chain peddling Japanese cuisine; it is in fact 100% Malaysian and the biggest Japanese
kaiten
 (conveyor belt) concept restaurant in the nation. It started in Kuala Lumpur with just one outlet back in 1995, but has now expanded significantly with over 100 outlets in almost every state.
Omedetōgozaimasu
!

2. San Francisco Coffee

Although Malaysia is 13,000 km away from the iconic place that inspired the brand name, San Francisco Coffee is without a doubt a homegrown brand. Born almost 20 years ago, this perky coffee chain has been serving fresh cuppas to thousands of coffee lovers in 29 outlets around Kuala Lumpur and Selangor.

3. Ogawa

While this health and wellness brand sounds Japanese, it is indeed a Malaysian-owned company. Its range of massage chairs as well as various fitness and therapeutic machines is on the wish list of every achy-bodied shopper who sees it on display in local malls. The brand continues to be a success in Malaysia and is busy massaging its way around the globe, across 62 countries; from the Philippines right up to North America.

4. Marry Brown

Founded in 1981 by Lawrence Liew and Nancy Chan, this halal fast food restaurant chain has hundreds of international outlets in countries such as Brunei, Indonesia, Singapore, Thailand, and Myanmar. Marry Brown serves typical fast food fare with burgers-and-fries kind of meals but also impressing other countries with local favourites like
Nasi Ayam
 and
Mi Curry Ayam
.

5. Kyros Kebab

We could have sworn that this restaurant chain originated in the Middle East, but in actuality, Kyros Kebab is the first kebab-based fast food chain in Malaysia. With an authentic sounding name and menu, the company has been feeding the Malaysian appetite for 20 years with its delicious kebab wraps.

6. Carotino

Marketed in over 30 countries including North America, Europe, Africa, and the Middle East, one might not have guessed that the distinctive red palm oil is made in right here in Malaysia. The brand produces consumer foods such as butter ghee, cooking and salad oils, industrial products, and many others. Since winning the gold medal at the 22nd International Exhibition of Inventions in Geneva, the brand has not stopped improving their line with state-of-the-art technology and first-rate research and development facilities. It is certainly a Malaysian brand to be proud of!

7. Good Maid

This household cleaning supplies brand was founded in 1988 with just four products. Today, it has a wide range of options for consumers that include environmentally-friendly cleaners and personal care items. The brand also manufactures supplies for industrial usage. As it penetrated the global market, the company was acquired by Saraya Global Japan in 2014 and still runs a five-acre production plant in Senawang, manufacturing and delivering signature Good Maid products to countless other countries in the world.

8. The Manhattan Fish Market

Inspired by the famous Fulton Fish market in Manhattan, the American-style seafood restaurant chain was started founded by a pair of bona fide Malaysians, George Ang and Dr. Jeffrey Goh. First launched in Singapore, the pair endured criticisms from the locals during its early days. Fortunately for the two of them, the restaurant received such a great response from its diners that over a short span of time, the seafood restaurant chain has expanded to over 67 restaurants across Asia and the Middle East. Its signature dishes can now be found in countries like Qatar, Oman, Bangladesh, Japan, Sri Lanka, India, and also Myanmar.

9. BritishIndia

You’re not the only one who thought the company is a part of what was once the
East India Company
 that existed in the 16th century. The culturalistic clothing line was established in 1994 by Pat Liew, who was inspired by the romance of the colonial era. The homegrown brand is now one of Asia’s influential apparel brands and has over 40 outlets across Malaysia, Singapore, Thailand, and the Philippines.

10. Jimmy Choo

Who hasn’t heard of this high fashion brand that is advocated by the powerful and influential people such as Princess Diana, Michelle Obama, Madonna, and Halle Berry? But did you know that the brand founder was none other than the Penang born Jimmy Choo? You read that right. The brand was founded by Jimmy Choo and his niece, Sandra Choi in 1996, and his unique designs caught the attention of Vogue magazine in the late 90s. The rest, as they say, is history, as the brand’s popularity skyrocketed almost overnight and became one of the most successful high fashion brands in the world.

11. Shangri-La Hotels and Resorts

Although known as a Hong Kong based luxury hotel group, it was founded by none other that Robert Kuok, the Johor born billionaire who’s also one of the richest men in the world. The world-renowned hotel chain began in Singapore in 1971, and has now grown into a hotel and resort chain with franchises scattered in idyllic spots across Asia, Europe, Australia, North America and the Middle East.

12. Bonia

When we think of this brand name, most of us would immediately think of fine, Italian crafted leather goods that are adored by so many women (Malaysian or not). But has it crossed your mind that this internationally famous brand is Malaysian? We’ll hazard a guess and say no. As a matter of fact, the luxury fashion brand was founded by Chiang Sang Sem in 1974, who started the business in Singapore. Today, the brand has over 700 sales outlets and 70 boutiques all over Asia.

13. Appeton

Remember back when we were children, our mother’s used to give us Appeton supplements for us to stay healthy? The brand is still popular among Malaysians to this very day, though few of us realise that the iconic pharmaceutical line is homegrown. It’s owned by Kotra Pharma, which was founded in 1982 and is now headquartered in Malacca.

These brands are not the only ones that may have surprised you with its origin; here are more top brands that were founded by Malaysians:
Parkson, Larrie, Padini, Beryl, Fipper, Vochelle, Lewré, Getha, DK-Schweizer, Secret Recipe, 1901 Hotdog,
 and
Voir.

Most of these brands started out with creative entrepreneurs, so if you have a good idea and the resources, go ahead and give it your best shot! Who knows you might just be the next guy or gal behind a successful Malaysian brand.

Need extra money to fund your dream business projects? Then check out our articles on the subject:
The Best Ways to Make Money From Home
 and
6 Part-time Ways to Make Money
.

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Malaysia Personal Income Tax Guide 2021 (YA 2020)

NOTE:

This is the income tax guide for the year of assessment 2020. If you are filing your taxes in 2022, then head on over to our
income tax guide for YA2021 here
.

That time of the year has come around again – so let’s see how ready you are to file your taxes. Have you got your EA forms at the ready? Do you know how to figure out your income tax rate, add up your tax reliefs, and calculate your tax refund? Have you registered as a taxpayer with LHDN, logged yourself into e-Daftar, and familiarised yourself the right e-Borang to fill?

If you’re still uncertain about it all, here’s our complete guide to filing your income taxes in Malaysia 2021 for the year of assessment (YA) 2020.

Do You Need To Pay Income Tax?

(Image: The Malaysian Reserve)

If you are an individual earning more than RM34,000 per annum (which roughly translates to RM2,833.33 per month) after EPF deductions, you have to register a tax file. Income tax doesn’t just cover your monthly salary, but all types of income – whether it is from your business or profession, employment, dividends, interest, discounts, rent, royalties, premiums, pensions, annuities, and others. For salaried employees, this also includes things like bonuses, overtime, commissions, and
all other taxable income
.

You don’t have to pay taxes in Malaysia if you have been employed in the country for less than 60 days or for income that is earned from outside Malaysia. If you’re not sure what counts as income that you have to declare for tax purposes or not, scroll down to our section on stating your income below.

Income Taxes in Malaysia For Foreigners

Do foreigners or expatriates who are working and earning income in Malaysia need to pay income tax? Yes, any foreigners who have been working in Malaysia for more than 182 days are eligible to be taxed under normal Malaysian income tax laws and rates, just like Malaysian nationals. Foreigners employed in Malaysia must give notice of their chargeability to the Non-Resident Branch or nearest LHDN branch within 2 months of their arrival in Malaysia.

YA 2020 Malaysia Tax Rates And Chargeable Income

You can refer to the income tax rates for personal income tax in Malaysia YA 2020.

Chargeable Income (RM)
Calculations (RM)
Rate %
Tax (RM)
0 – 5,000
On the first 5,000
0
0
5,001 – 20,000
On the first 5,000

Next 15,000

1
0

150

20,001 – 35,000
On the first 20,000

Next 15,000

3
150

450

35,001 – 50,000
On the first 35,000

Next 15,000

8
600

1,200

50,001 – 70,000
On the first 50,000

Next 20,000

14
1,800

2,800

70,001 – 100,000
On the first 70,000

Next 30,000

21
4,600

6,300

100,001 – 250,000
On the first 100,000

Next 150,000

24
10,900

36,000

250,001 – 400,000
On the first 250,000

Next 150,000

24.5
46,900

36,750

400,001 – 600,000
On the first 400,000

Next 200,000

25
83,650

50,000

600,001 – 1,000,000
On the first 600,000

Next 400,000

26
133,650

104,000

1,000,001 – 2,000,000
On the first 1,000,000

Next 1,000,000

28
237,650

280,000

Exceeding 2,000,000
On First 2,000,000

Next ringgit

30
517,650

………..

Based on this table, there are a few things that you’ll have to understand. First of all, you have to understand what
chargeable income
is. Chargeable income is your taxable income minus any tax deductions and tax relief. As you can see, the tax rate you are charged with increases as your chargeable income does. The more you reduce your chargeable income (
through tax reliefs and such
), the lesser your final tax amount will be.

As an example, let’s say your annual taxable income is RM48,000. Based on this amount, the income tax to pay the government is RM1,640 (at a rate of 8%). However, if you claimed RM13,500 in tax deductions and tax reliefs, your chargeable income would reduce to RM34,500. This would enable you to drop down a tax bracket, lower your tax rate to 3%, and reduce the amount of taxes you are required to pay from RM1,640 to RM585. That’s a difference of RM1,055 in taxes!

Income Taxes in Malaysia For Non-Residents

You are regarded as a non-resident under Malaysian tax law if you stay in Malaysia for less than 182 days in a year, regardless of nationality. You’ll still need to pay taxes for income earned in Malaysia and will be taxed at a different rate from residents.

Therefore, whether you are a Malaysian or a foreign national, as long as you reside in Malaysia for less than 182 years in a year, any income you earn in Malaysia is taxable under non-resident income tax rates.

Here are the income tax rates for non-residents in Malaysia.

Types of Income
Rate (%)
·      Business, trade or profession

·      Employment

·      Dividends

·      Rent

30
·      Public entertainer

·      Interest

15
·      Royalty

·      Payments for services in connection with the use of property or installation, operation of any plant or machinery purchased from a non-resident

·      Payments for technical advice, assistance, or services rendered in connection with technical management or administration of any scientific, industrial or commercial undertaking, venture, project or scheme

·      Rent or other payments for the use of any movable property

10

How To File Income Tax in Malaysia

In Malaysia, the process for filing your income tax returns depends on the type of income you earn and subsequently, what type of form you are filing. Resident individuals who do not carry on a business will file the BE form, whereas resident individuals who do carry on a business will file the B form; meanwhile, non-resident individuals file the M form. You can find the full list of the different types of forms on the
 LHDN website
.

The deadline for filing income tax in Malaysia also varies according to what type of form you are filing. For the BE form (resident individuals who do not carry on business), the deadline for filing income tax in Malaysia is 30 April 2021 for manual filing and 15 May 2021 via e-Filing. Meanwhile, for the B form (resident individuals who carry on business) the deadline is 15 July for e-Filing and 30 June for manual filing.

Register as a first-time taxpayer on e-Daftar

Before you can file your taxes online, there are two things that you will need: your income tax number and your PIN. You can get your income tax number by registering as a taxpayer on e-Daftar, and you can get your PIN after that either online or by visiting a LHDN branch. Check out our step-by-step guide on
registering as a first-time taxpayer here
.

Log in to e-Filing

You can access e-Filing through ezHASiL or through LHDN’s new tax dashboard,
MyTax
. Once you have logged into e-Filing for the first time and set up your account as per the steps above, you can start filling up your Income Tax Return Form (ITRF) online. Remember that you can choose to view e-Filing, your form, and in act the entire LHDN website in either English or BM – just select the language of your choice at the top of the screen.

Fill up your income tax return form

Make sure you choose the right type of ITRF depending on which category of income you fall under:

Income Tax Return Form (ITRF)
Category
e-B/e-BT
For residents earning income from business/knowledge or expert worker
e-BE
For residents earning income without a business
e-M/e-MT
For non-resident individuals/knowledge workers

Choose the right form and select the year of assessment 2020 (remember, you are declaring your income earned for the year before). Next, we can get right down to the business of filling out your form; here’s a breakdown of what the BE form for residents earning income without a business will look like.

Particulars of individual

In this section, check to see that your basic personal details are displayed correctly on the form. Some of them will already have been filled out for you based on the information you provided when registering as a first-time taxpayer. You should also make sure that you select the right
type of assessment
, which determines whether you will be filing as a single person, or filing together or separately with your spouse.

Other particulars

This is a continuation of the previous section that relates to your individual particulars. Make sure to get your
handphone number
 down correctly, as LHDN will send you a TAC when you sign and submit your e-form, and your
bank account number
 must be accurate if you want to get your tax refund.

Besides that, the
d
isposal of asset under the Real Property Gains Tax Act 1976
 will be relevant to you if you’ve sold any property in the last year. You will also find the section for
Incentive Claims
under paragraph 127(3)(b) and subsection 127(3A) here, which relate to specific exemptions made under gazette orders and exemptions given by the Minister of Finance, respectively; you can leave this section blank if this does not relate to you.

Declare Your Income

Under
statutory income
, fill out all the money you earn from employment, rents, and other sources in the respective boxes. This is where your EA form comes into play as it states your annual income earned from your employer.

However, there are several reasons why you shouldn’t accept the annual income stated on your EA form as the final figure for your statutory income from employment. Don’t miss out any non-salary related benefits that can count as “income from employment” and may need to be added on to your income figure. Similarly, you wouldn’t want to include any income that is entitled to tax exemptions on your form either.

For instance, perquisites (which cover things like parking, medical, and transport allowances) and benefits-in-kind (such as cars, personal drivers, accommodation, and so on) are taxable under law, but the government has provided some tax exemptions for them. If you want to find the answer to whether or not your RM100 monthly travel allowance is tax exempt, check out our article on
tax exemptions.

Once you’ve keyed in all your statutory income, the form will automatically total it up to show your
aggregate income
. The next step will be to move on to any tax deductions you may be eligible for so you can lessen your aggregate income. For example, you can
make a tax deduction
 from your aggregate income if you have made a contribution of gifts or donations to the government or a government-approved charitable organisation. After making the deductions, you will be left with your
total income.

At the bottom of this section, you’ll have to key in the total
monthly tax deductions (MTD)
 paid during your year of assessment. MTD or Potongan Cukai Bulan (PCB) is the compulsory mechanism where employers deduct monthly tax payments from a taxable employee’s salary. You can find this amount on your EA form.

You will also find a section on non-employment income of preceding years not declared, approved investment under angel investor tax incentive, and self installments, which you can fill out if relevant.

Claim for tax reliefs and tax rebates

Here comes one of the most important parts of filing your taxes – claiming for tax reliefs and rebates! We’ve already explained how tax reliefs can reduce your chargeable income (and thus your tax rate and tax amount) above. For the full list of tax reliefs you can claim for in YA2020 and an explanation of each relief, you can refer to our post on
everything you should be claiming for here
 or refer to this infographic below.

Once all your tax reliefs have been claimed, your chargeable income determined, and your tax rate and amount decided, you can claim for any tax rebates you are eligible for. Zakat and fitrah can be claimed as a tax rebate for the actual amount expended up until the total tax amount.

For example, say your employment income is RM50,000 a year and you have claimed RM15,000 in tax reliefs. This would bring your chargeable income down to RM35,000 and the amount of tax you have to pay is RM600. If you have contributed RM400 in the last year on zakat, you can minus that amount from the RM600 and end up with a final tax amount of RM200 to pay.

Besides zakat and fitrah,  you are also eligible for a tax rebate of RM400 for yourself if your chargeable income does not exceed RM35,000. To find out more about the tax rebates that you could be eligible for, you should check our article on it here.

Check your summary

You’re almost done! On this page, you should see the final tax amount displayed. Don’t worry if your tax amount is in the negative as this is due to what you have already paid through MTD. This means you will get a tax refund from the government.

You can always go back through the form at this stage and amend any details that you may have missed out on; the form will make the necessary changes to the final tax amount automatically as you do so. Once you’re certain your form is free from errors, click “Next”.

On the declaration page, request a TAC from the number you’ve registered with LHDN and key it in. Then, click the sign and submit button, enter your identification number and password in the pop-up, and press the sign button. Finally, you’re done with filing your income taxes for YA 2020!

Before you say goodbye to income taxes for the rest of the year, make sure to save and print the acknowledgement and e-BE form for records purposes.

Amending Your Income Tax Form

Once you’ve submitted your form, you can’t make any further changes to it online via e-Filing. If you wish to make any amendments to your income tax declaration, you need to submit an appeal for amendments on or before 30 April 2020.

Here are the steps that you will need to take:

Print your e-form and make corrections in the wrong space (a brief signature next to the correction). Next, make the tax calculation manually up to the “Tax Paid” level. In the event of any balance due, the balance shall be paid on/before 30 April 2020.
Attach a letter of appeal that explains the changes you wish to make along with a copy of your e-form and all original documents and receipts to confirm income, all claims and tax deductions. Once you have done that, you will need to send it to the branch that you have registered with.
Do note that LHDN will go through each error appeal as a part of the audit process and the time taken for the amendment will depend on the information and documents submitted.

How Do You Pay Your Income Taxes?

With your taxes filed and your final tax amount determined, you will find yourself in either one of two situations.

For those subject to MTD, you may find that tax reliefs and rebates have contributed to making your final tax amount less than what was deducted each month. Therefore, you are eligible for a tax refund! It will be automatically credited to the bank account you’ve provided in your tax form within 30 working days after submission.

On the other hand, if you find after filing that you still owe more taxes, you’ll have to pay them before the due date which is 30 April 2021. Here are a few of the ways you can
pay your income taxes in Malaysia
:

Method
Details
Online banking through FPX
Requires a bank account with AffinBank, Alliance Bank, Ambank, Bank Islam, Bank Muamalat, BankRakyat, BSN, CIMB, Maybank, OCBC, Public Bank, Deutsche Bank, HLB, HSBC, KFH, RHB, Standard Chartered, or UOB
Online using credit card on ByrHASiL
Visa, Mastercard, American Express accepted
Pos Malaysia
Over the counter (cash only) or online
Via ATM
Only at Public Bank, Maybank, and CIMB

While it is a positive thing to be able to pay your taxes with your credit card, do note that almost all banks do not provide benefits for government-related spending. Therefore, it is unlikely that you will be able to earn cashback or rewards points on the amount that you pay for your taxes. However, some cards do include government spend as part of your monthly or annual spend requirements that go towards unlocking higher cashback tiers or annual fee waivers.

What happens when you pay your income tax late in Malaysia? A penalty of 10% will be imposed on the balance of tax unpaid after the deadline of 30 April 2021. A further penalty of 5% will be imposed on the amount owed if the tax and penalty is not paid within 60 days.

If you disagree with the late payment penalty, you can forward an appeal in writing to the Collection Unit of LHDN within 30 days of being issued a Notice of Increased Assessment. However, the penalty imposed has to be settled regardless of any appeal – if you are successful, LHDN will refund you the relevant amount.

Appealing Your Income Tax Notice of Assessment

After you file your taxes, there is a possibility that LHDN may serve you a notice of assessment. A notice of assessment is a written statement by LHDN that states your taxable income, amount of tax due, and so on. If you disagree with any of the info laid out – perhaps because of a discrepancy in tax reliefs or any sort of error – you can file an income tax appeal.

The appeal must be made within 30 days from the date of notice in writing to the LHDN branch which issued the assessment. You’re required to fill in the Q form, write a letter identifying the mistakes, and submit supporting documents for any expenses, deductions, or reliefs claimed. The appeal will be forwarded to the Special Commissioners of Income Tax. Should you have a valid reason for requiring more than 30 days to file an appeal, then the N form is the one you’ll need. Both Q and N forms are available at the LHDN office.

More On Malaysia Income Tax 2021 (YA 2020)

We hope that this guide will help with filing your taxes this year and claiming all the tax reliefs and incentives that you are eligible for. Remember, if you would like to read up on the different aspects of filing for
income tax
 in further detail, you can check out our dedicated articles on each subject below:

Everything You Should Claim For Income Tax Relief Malaysia 2021 (YA 2020)
How To File Your Taxes For The First Time
Income Tax Malaysia: What’s New For YA2020?
How To Check If Your Hotel Stay Is Eligible For The Tourism Tax Relief
MyTax: One-Stop Portal To Make Tax Filing More Convenient
How To Claim Income Tax Reliefs For Your Insurance Premiums
Income Tax Malaysia: Quick Guide to Tax Deductions for Donations and Gifts
Understanding Income Tax Reliefs, Rebates, Deductions, And Exemptions In Malaysia
Income Tax Glossary

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About THE AUTHOR

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    Chan Weng Hong

    2 years ago

I am 74 years old and am fully retired. I have not no employment for the past 20 years. I have no income from rental properties. The only income I get is from the small amount of interests in my savings account besides some small amount of government assistance money. Do I still need to fill out a income tax form?

26

Reply

    kf

    2 years ago

are dental implants tax deductible in Malaysia?

0

Reply

    abdullah

    2 years ago

HI, i have an online business, wo which form should i use to declare my income tax?

6

Reply

    kesavan

    2 years ago

Which type of form need to fill up if to declare tax of both husband and wife together.

5

Reply

    Jan

    2 years ago

I am a foreigner residing in Malaysia (MM2H). I am retired and receive a pension from a non-Malaysian pension fund. That pension fund transfers the payments from abroad directly into my Malaysian bank account. Are these foreign pension payments considered income under Malaysian tax? Do I have to pay income tax on this pension?

0

Reply

    Julia Oh

    2 years ago

Hi Jacie

I’m making an enquiry on behalf of my boss for the Talent Corp Returning Expert Programme on the taxable rate of 15%. He has obtained the letter of approval. Under which section of the e-BE can he access this to input the relevant data?

Appreciate your urgent reply, thank you.

0

Reply

    Alan

    2 years ago

My daughter works as a teacher in Malaysia and is leavinng one school and starting at another school in August.  Her current school have said that they will withold 2 months salary until after she has left that school.  Is that legal?

0

Reply

    Manix

    2 years ago

A friend had been out of Malaysia since 2009, and has earned some good amount.  The friend is still abroad. Does the friend have to pay income tax, and if no, can a letter of exemption be obtained from the inland revenue department

-2

Reply

    Angela

    2 years ago

Hi, Do we have to fill in any separate forms to claim refund? or will it be automatically refunded?

0

Reply

    Pang Tun Yau

    2 years ago

    Reply to

        Angela

It will be automatically refunded.

0

Reply

    SL Wong

    2 years ago

Isn’t non-resident’s tax rate 30% now instead of 28%?

0

Reply

    Jacie Tan

    2 years ago

    Reply to

        SL Wong

Thank you!

0

Reply

    ngu chiung hung

    2 years ago

Hi,I am working but my wife is not (housewife). Can I choose “diri sendiri di mana suami/ isteri tiada punca pendapatan” ? and then I include my wife’s life insurance premium for the rebates ?

if not, which one is to select ?

thank you in advance.

15

Reply

    Sarah

    2 years ago

Hi, for my 2019 return, I was considered as non resident. Then for 2020’s, I had filed my return as tax resident. My question is, can I re-submit my 2019’s return as resident since it was linked to YA 2020?

0

Reply

    Lily

    2 years ago

Hi

As an individual, in calendar year 2021, do i file for YA2020 tax? And does YA2020 means my income earned in 2019?

0

Reply

    Tun Yau Pang

    2 years ago

    Reply to

        Lily

Yup, that’s correct.

0

Reply

    Mr Tan

    1 year ago

Hi, I would like to know if my foreign source income is tax exempted.

I am employed by a company in Singapore, and have been working from home in Malaysia since the start.

I am paid from the Singapore company into my bank account in Malaysia, for services i rendered to the Singapore company.

Is this considered foreign source income and tax exempted?

0

Reply

    Edward

    1 year ago

Hi, anyone here knows if I work in a foreign country, but due to the pandemic I’m currently resides back in Malaysia and basically working from home, but my employer and employment are still tied to the foreign country. In this case am I still eligible for income tax? Thanks in advance.

0

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Have You Reached These 5 Financial Milestones?

Today, most of the adult population is made of Millennials; those born between 1981 – 1996, and are actively pursuing their life goals. This can include getting married, seeking professional growth, purchasing a home, or travelling the world.

While some of us may share the same goals in life, most of us are also looking to achieve financial freedom, feasibly sooner than later. With Malaysians encountering financial instabilities in the past 2 years due to the pandemic, Malaysians are now aiming for financial security for themselves and their loved ones to ultimately achieve a better quality of life.

It’s important to note that the definition of financial freedom or financial security may not be the same for everyone but there are a few general milestones to work towards.

***

By planning our finances, living healthier, and protecting what’s most important to us, AIA is committed to empowering Malaysians, young and old to accomplish their meaning of what it means to be financially stable. Catch more of WOW-LAO BRO and his financial tips on AIA’s
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Through their Total Wealth Solution, AIA has the tools and resources you need at any stage of your journey.
To learn more about AIA Total Wealth Solution, head to their website!

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

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Economists: Cost Of Living Goes Up Amidst Covid-19, In Tandem With Food Prices

(Image: The Malaysian Reserve/Razak Ghazali)

Some economists have commented on the rising cost of living in the current economic landscape, which grew concurrently with increasing average food prices. The significant rate of job losses incurred during the Covid-19 pandemic also threw lower-income households into worse financial distress.

According to the chief economist of Bank Islam Malaysia, Dr Mohd Afzanizam Abdul Rashid, the rise in cost of living is caused by multiple factors, such as the higher cost of businesses that is transmitted to the end consumers. This cost includes the purchase of raw materials, wages, maintenance, and other overhead costs.

“Given that Malaysians are generally price takers, the transmission can be very effective. In other words, whatever price level set by the businesses will be mostly accepted by the buyers. This will allow prices to go up,” Mohd Afzanizam said.

(Image: Focus Malaysia)

On top of that, the economist also noted the role of fuel prices as the main driver of rising inflation, which contributed to a higher cost of living as well. “We can see this in last year’s Consumer Price Index (CPI) when it fell by 1.2%. Despite that, the prices of other goods and services are pretty much stable, and in fact, rising. This is reflected in the core CPI, which continues to sustain a 1.1% increment during 2020 and 2019,” added Mohd Afzanizam.

Mohd Afzanizam then went on to highlight that Malaysia’s CPI had recorded persistent increases in the food and non-alcoholic beverages category when compared to some previous figures. In turn, food prices – which is a key component in the CPI – will continue to affect all Malaysians regardless of their income status.

For context, Malaysia’s CPI for January 2021 had declined 0.2% to 122.1 in a year-on-year (y.o.y.) comparison from 122.4 in January 2020. The decrease was attributed to the decline in various expenses, namely transport (-5.1%), utilities (-0.7%), clothing and footwear (-0.4%), as well as restaurants and hotels (-0.1%). All of these contributed to a total of 44.5% of the overall CPI. Despite that, the food and non-alcoholic beverages category – which makes up 29.5% of the CPI – recorded a 1.5% y.o.y increase, growing from 134.1 in January 2020 to 136.1 in January 2021.

(Image: Malay Mail)

Meanwhile, a month-on-month comparison showed that the CPI in January 2021 increased by 1.2% from December 2020. This rise is attributed to transport (3.7%), utilities (2.6%), furnishing, household equipment, and routine household maintenance (0.3%), as well as food and non-alcoholic beverages (0.2%).

Senior lecturer from Universiti Utara Malaysia, Muhammad Ridhuan Bos Abdullah, also chimed in to say that households now had to spend more to get the same amount of goods, particularly with regard to meat and milk products. He said that the import cost is a key reason for this situation as local production was unable to meet the demand of the public.

Additionally, the new norm where households have grown reliant on facilities such as food delivery services also contributed to the rise in food and beverages (F&B) cost. “It is interesting that the use of food delivery has spread to suburban and rural areas. F&B is the largest group that caused inflation besides health. The rest is education where now gadgets become necessities for better education access,” said Muhammad Ridhuan.

(Image: Today Online)

The economist further opined that the M40 income group is the most affected by this situation because they tend to be the target market for a range of goods and services. This is in comparison to the B40 group, which has received various forms of financial aids, as well as the more affluent T20 group.

Finally, Muhammad Ridhuan said that the best short-term policy to resolve this situation is for the government to provide incentives to critical subsectors, such as F&B importers, as well as help domestic manufacturers increase their production.

(Source:
The Malaysian Reserve
)

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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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Buy A Samsung Galaxy S20, Get A Free Samsung 4K Smart UHD TV

Samsung has announced the roadshow deals for its upcoming Galaxy S20 smartphones launch in Malaysia. This year, Samsung is not only giving away exclusive roadshow gifts with every purchase, but early birds will receive additional perks – including a Samsung 50″ 4K Smart TV worth RM2,599.

After its
pre-order campaign which kicked off on 13 February
, the Samsung Galaxy S20 roadshow will kick off from 6-8 March 2020 in five locations nationwide: Mid Valley Megamall, Kuala Lumpur; Queensbay Mall, Penang; Mid Valley Southkey, Johor Bahru, East Coast Mall, Kuantan; and IMAGO Shopping Mall, Kota Kinabalu.

Samsung Galaxy S20 Roadshow Freebies

For the roadshow, Samsung is offering freebies for the purchase of any Galaxy S20 models in the series. For starters, all purchases will receive the exclusive roadshow gift of a Samsung Wireless Charger Pad as well as a Samsung 128GB microSD card worth a total of RM378.

On top of that, early birds stand to be rewarded very well indeed. The first 500 early bird purchases nationwide will not only receive the exclusive roadshow gifts above, but also a Samsung 50-inch 4K Smart UHD TV worth RM2,599.

Not interested in a 4K TV? You can trade-in any camera and get RM400 instant rebate on your new Galaxy S20 series smartphone. Like the 4K TV offer, this trade-in rebate is limited to the first 500 early bird purchases as well. Note that you can only choose one early bird offer of the two; considering one is worth RM2,599 and the other RM400… you know which to go for.

The 500 early bird offer allocation is spread across the five roadshow locations in the following manner:

Region

Quantity (50” 4K Smart UHD TV)

Quantity (RM400 instant rebate)

Kuala Lumpur

220 units

220 units

Penang

120 units

120 units

Johor

80 units

80 units

Kota Kinabalu

50 units

50 units

Kuantan

30 units

30 units

As a recap, here are the retail prices of the Samsung Galaxy S20 series:

Galaxy S20: RM3,599 in Cosmic Gray, Cloud Blue, and Cloud Pink

Galaxy S20+: RM3,999 in Cosmic Gray, Cloud Blue, and Cosmic Black

Galaxy S20 Ultra: RM4,999 in Cosmic Gray and Cosmic Black.

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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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Ex-BNM Governor: Malaysia’s Taxation System Needs To Be Re-Examined

(Image: Berita Harian/Aizuddin Saad)

Former Bank Negara Malaysia (BNM) governor, Tan Sri Muhammad Ibrahim has commented that Malaysia needs to re-examine its current taxation system in order to develop a more comprehensive and equitable system.

According to Tan Sri Muhammad, an equitable tax system should involve value-added tax (VAT), which is described as a consumption tax that is levied on a product at each stage of the supply chain where value is added (hence its name). Additionally, the tax system should support better economic growth instead of becoming a political issue.

“As it is now, about 30% of the economy does not pay tax because of the nature of the tax system. This includes a retired person like me or others who could still afford to spend and should be contributing their part, as they still enjoy good roads, airports, and schools,” said Tan Sri Muhammad.

The former governor also explained that a good taxation system will ensure that Malaysia has revenue options, enabling it to avoid entering into a debt trap in the long run. If trapped, not only will Malaysia’s economic growth be affected, financial markets such as the equity and bond markets will also be impacted, ultimately leading to investors losing confidence in Malaysia.

(Image: Samsul Said/Bloomberg)

At present, Malaysia’s debt level – which is recorded at 50% to 60% of its gross domestic product – is still considered low. This is in comparison to other countries such as Japan and Greece, which accumulated a debt level of over 100%.

Finally, Tan Sri Muhammad also stressed the importance of having national champions in various economic sectors. “We need more national champions like Petronas and Top Glove Corporation Bhd to become global brands that not only create high-paying jobs, but also advance the interest of the nation,” he said, adding that a clear and cohesive plan is needed for this to happen.

As an example, Tan Sri Muhammad highlighted the long process of planning and nurturing that BNM and the local banking industry engaged in in order to grow domestic banks into competitive entities. Consequently, this also transformed them into well-respected regional forces.

(Source:
The Edge Markets
)

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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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Eating Out vs Cooking: Which Is Better Value For Your Money?

While most of us enjoy both home-cooked meals as well as ordering takeout, which of these options actually provide the most value for money spent?

While it’s widely assumed that cooking at home will save you more money than eating out, most people forget to take all the interconnected factors into account. So let’s put it all to the test and decide which is ultimately better for your money – eating out or cooking at home?

Let’s start off by looking at how much time and effort it takes to cook:

How Long Does It Take To Cook?

A simple meal like instant noodles can be easily prepared at home, and it usually takes less than 5 minutes from the time you rip off the package, to the time when it’s ready to be consumed. It goes without saying that elaborate meals will require more time; since we need to factor in the time it takes to shop for the ingredients, prepping, cooking, as well as the dreaded clean-up.

A complete course of dinner could take anywhere between 45 minutes to 3 hours to prepare at home – depending on the number and type of dishes you’re having on your table.

How Long Does It Take To Eat Out?

It usually doesn’t take too much time to eat out – unless you’re headed to a restaurant out of town. You can simply walk or drive to your nearest food stall or restaurant, place your order, and enjoy the prepared meal – all of which could be completed in less than an hour.

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Even if you don’t feel like going out, there’s plenty of food delivery services – such as
Foodpanda
 and
dahmakan
 – that can help get food on your table (or sofa, we don’t judge) that much quicker. All you have to do is place an order through their website or phone number, and
presto
, dinner is served. Well, in however long it takes them to deliver the food to you.

Now, don’t form any conclusion yet. Let’s dive down into the cost factor of cooking a meal at home compared to eating out – or buying from food delivery services. To give you a general idea on how much the costs differ, we’ll compare the costs of a local favourite, fried rice with egg – or
nasi goreng telur
 – when cooked at home versus bought from a restaurant (whether you’re eating out or getting it delivered to you).

Cooking At Home

We tend to assume that cooking at home is cheaper, but this depends on how often you cook, and the number of people you’re cooking for.

We’ve purchased the ingredients for our fried rice with egg in their smallest available form – just enough to prepare one dish. The price of each ingredient used can be found on the table below, and surprisingly, the cost of ingredients for a single serving of fried rice with egg is a whopping RM18.10. Shocking, we know.

But while we were left with plenty of leftovers for some ingredients – such as the shrimp paste, palm sugar, oyster sauce, and oil – which we can use to cook other meals, it doesn’t change the fact that we had to purchase more than was needed to cook a single meal, for a single person.

Here, the ‘economy of scale’ concept becomes useful; it basically means that if we prepare this meal for more people – say for a family of three – then the cost of cooking a meal per person would be cheaper and better justified.

Cost of Ingredients for Fried Rice with Fried Egg

Ingredient

Cost (RM)

Onion

0.20

Garlic

0.05

Red Chilli

0.80

Rice

1.00

Shrimp Paste

4.00

Egg

0.50

Dapur Desa Malacca Palm Sugar (420g)

5.29

Ummi Kicap Lemak Manis (340g)

2.94

Seri Murni Pure Vegetable Oil (1kg)

3.30

Total Cost

18.08

Eating Out

Eating out can be as expensive or as cheap as you want it to be; a plate of fried rice with egg in local restaurants or stalls would average between RM5 to RM8. Of course, in pricier establishments, this simple dish can cost around RM15 per plate (pre-tax and service fees).

It would appear that eating out is cheaper, but you have to consider the costs involved to get to your food (or to get the food to you). Taking the car out to buy your meal will involve petrol costs, while ordering takeout may include a delivery fee that averages between RM3 to RM5.

Tips:
 Some food delivery services offer free delivery for large orders, so check with them before placing your order and save your cash!

For example, a plate of Chinese Fried Rice – which is similar to fried rice with egg – in Syed Bistro (a local
mamak
 restaurant) is RM7, and if you get it delivered through Foodpanda, there is a delivery charge of RM5 along with Government Tax of RM0.72. That brings your total bill to RM12.72. Still cheaper than cooking at home, but you won’t get to keep any leftover ingredients.

Our Verdict?

Looking at the cost breakdown comparison of the most common meal in Malaysia at a glance, we would be hard-pressed to say that cooking at home is cheaper than eating out, at a glance. But the fact is, if you’re only cooking for yourself – and at an infrequent intervals – the costs incurred tend to be higher than buying a meal at a restaurant.

Eating out can be a better value for your money depending on where and what you eat, and you’ll have a larger variety to choose from. Of course, this entirely depends on your eating and cooking habits. For family households, cooking at home can be so much cheaper since you can buy the ingredients in bulk, and plan your cooking for the entire week or month. That is, assuming that you have the time and skill to cook at home

If you are looking for more ways to stretch your budget, consider getting a good cash back or rewards credit card that allows you better savings each time you pay for groceries, petrol and dining. Have a look at our
comparison page
 and get choosing!

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Budget 2019: Big Changes To Property Sector, Aimed At Encouraging Home Ownership

In its effort to boost home ownership, the Government has announced some new measures for Budget 2019. These measures are intended to make it easier for Malaysians to further reduce property speculation as well as make it easier for individuals to finance a home.

One major announcement was the increase of the Real Property Gains Tax (RPGT) for properties sold after the fifth year. The rate will be set at 10% for companies and foreigners (from 5% previously), and 5% for Malaysian individuals (up from 0%). However, low-cost, low-medium cost, and affordable housing with prices below RM200,000 will be exempted from RPGT.

Separately, the Government is also tweaking the stamp duty charges. For the transfer or properties valued at more than RM1 million, the stamp duty will increase from 3% to 4%. Meanwhile, for first-time home owners purchasing residential properties priced up to RM500,000, the Government will waive stamp duty up to RM300,000 on sale and purchase agreements (SPA) as well as loan agreements until December 2020.

Starting 1 January 2019, the Government will introduce a National Home Ownership Campaign which will last for six months. Among the initiatives that will be carried out is a waiver for all stamp duty charges on unsold properties priced between RM300,001 and RM1 million. In return, developers will offer a minimum price discount of 10% for these residential properties.

The Government has also exempted SST charges on construction and building materials. This means that for new residential housing projects, there will be a 10% price reduction on the prices of houses that are not price-controlled.

Meanwhile, to assist the lower-income group earning less than RM2,300 a month to own a house for the first time, the Government is introducing a new RM1 billion fund that will help them purchase affordable homes priced up to RM150,000. This fund will be available starting 1 January 2019 from participating financial institutions (AmBank, BSN, CIMB Bank, Maybank, RHB Bank), offering a concessionary rate from as low as 3.5% per annum. This fund will only be available for two years, or until its allocation is used up.

Finally, the Government will also be exploring a “property crowdfunding” initiative, said to be a first in the world. It will serve as an alternative source of financing for first-time home buyers, and will be regulated by the Securities Commission as a “peer-to-peer financing framework”. Under this initiative, a buyer will be able to purchase a property for a fraction of its value, while the remaining balance can be funded by investors who are looking to invest in a property for potential appreciation in value. This initiative is expected to go live in the first quarter of 2019.

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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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How To Sell Just About Anything Online

The Covid-19 pandemic has had a profound economic effect on many Malaysians. We’re all looking to earn a little extra cash these days, and one of the quickest ways to raise some money is to sell any unused items you may have online. Thanks to online platforms such as Mudah.my, Malaysia’s largest online marketplace, it is now easier than ever to do so.

The Surprising Things That You Can Sell Online

Now, you may be thinking that you don’t really have that many things that you’ll be able to offload. But if you took a closer look, you could actually come up with a fair amount.

Household appliances are some of the items that you can sell

In the past, you may have bought books that you never really had the time to read. You may also have brand new clothes, footwear, or accessories that you impulsively bought during the last flash sale, but never had the chance to wear them. Or perhaps you bought some additional household appliances on buy-one-and-get-one-free deals. These are just some of the things you’ll be able to sell on the platform and raise some cash.

Not only that, if you have a hobby that you’ve outgrown like photography or any kind of sports, you can look to sell off your equipment on Mudah.my. If you really have to, you could also let go of some of your precious collector’s items such as limited-edition toys and paraphernalia – these can fetch a handsome price.

With more than 50 item categories on the platform, you’ll be surprised with just what you could put up for sale on Mudah.my. This is the case because Mudah.my is on a mission to democratise commerce for Malaysians everywhere, allowing and encouraging Malaysians to sell almost anything, even antique items that are not usually seen on other marketplaces.

You can even sell antique items on Mudah.my

Effective Ways To Get Your Items Sold

Although you can sell pretty much anything you want on Mudah.my, remember that you’re probably not the only one out there selling what you’re selling. Potential buyers may have quite a few options to choose from and to ensure that your listings truly stand out, the following measures could be helpful:

1. Ensure Your Prices Are Reasonable

This is the most important thing you should do in order to successfully sell off your item. The price is the first thing that catches buyers’ attention, and people usually filter items based on their price tags. Buyers will compare the price of your item to those of other sellers, so if there are many similar items on the marketplace, be sure that yours isn’t relatively too expensive. If in doubt, put yourself in the buyer’s shoes and honestly consider if you would purchase your own item at the price you’ve set.

2. Use Good Photos

Besides the price point, high quality photos can make all the difference in attracting a buyer browsing through items of similar value. Furthermore, pictures that accurately display your item can tell potential buyers a lot about what they need to know regarding your item and save you from time-consuming enquiries. Your phone’s camera should do the trick – just make sure you have proper lighting and an attractive background, and that your item has been thoroughly cleaned beforehand to improve its appearance.

Example of a good photo:

Example of a bad photo:

3. Write A Great Description

Start with a catchy headline that accurately describes the main characteristics of your item. Once you’ve gotten your potential buyers’ attention, be as informative as you have to in the main body of your listing without being too wordy. Dimensions. Colours. Model numbers. All of these will be helpful to your buyers, and like a good picture, can help you to avoid the hassle of having to answer a barrage of questions about your item. Use bullet points for easy reading, as well.

4. Throw In A Bonus Item

Everyone loves a freebie, and this is especially so for Malaysians! By throwing in a smaller bonus item with your main item, you’ll strengthen perceptions of your listing’s value in the eyes of potential buyers. For example, if you’ve listed a camera for sale you can bundle in an SD card. Just don’t forget to include pictures of your bonus items and highlight them in your item description, too.

5. Use Props To Enhance Appearances

For many of us, presentation is everything. So when you take pictures of your items, you can use simple but effective props to spruce up the way they look and make them more appealing to your potential buyers. Jewellery stands and clean cases are just some of the props that you could use for this purpose. Additionally, great lighting can make your pictures look as authentic as possible.

Use props to make your item more appealing

Now that you’ve found out how to get the most of Mudah.my, it’s time to start selling! Go ahead and try

posting a few of your unused items for sale on Mudah.my
, you might just find someone who’s more than happy to take it off you.

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MAS Campaign Offers Various Deals, Including 20% Off For All Domestic Flights

Malaysia Airlines (MAS) is currently running its Huat A Steal! campaign in conjunction with the Chinese New Year celebration, offering 20% off on all seats for all domestic flights. This is on top of additional perks, including rebates on seat selection and extra baggage, bonus Enrich Points, and discounted travel packages. Ongoing until 23 January 2022, this promo is set for immediate travel up until 30 June 2022.

With regard to the 20% flight discount, the rebate is applicable to the national carrier’s various fare categories intended to meet differing travel needs. These include the
Economy Lite, Basic, and Flex fares
 – each providing a selected range of services, such as check-in baggage, seat selection, and other priority facilities. If you prefer, you can also indulge in the Business Class offering, which was recently enhanced with the introduction of Business Basic and Business Flex fares.

Aside from that, MAS is also offering 25% off seat selection and extra baggage, as well as the ability to earn an additional 22% bonus Enrich Points for Enrich members when they book flights or getaways during this sales period. If you’re looking to
earn bonus Enrich Points
 in particular, you’ll be happy to note that there is no cap to the points that you can gain through this promotion. However, the deal is applicable only for selected subclasses, namely:

Economy Class
: Y, B, H, K, M, L, V, S, N, Q, O, G
Business Class
: J, C, D, Z

Additionally, the airline’s tour operating arm, MHholidays is also offering discounts of up to 30% on all domestic travel packages. You’ll find great deals through this promo, such as 3-day-2-night holiday packages that start from as low as RM199. Among some of the participating hotels that you look forward to staying at include Citrus Hotel (Johor Bahru), Grand Crystal (Kedah), Raia Hotel (Kota Kinabalu), The Lime Tree Hotel (Kuching), Shahzan Hotel (Kuantan), and Melia Kuala Lumpur.

Not only that, MHholiday customers can also enjoy additional perks, such as a higher 40kg baggage allowance and free seat selection.

(Image: The Star)

The group chief marketing and customer experience officer of MAS, Lau Yin May said that this promotion is aimed at encouraging travellers to further explore the attractions that Malaysia has to offer during the long weekends ahead. “Whether it’s to return home for the Chinese New Year break, a solo foodie trip or a family staycation, travellers can enjoy their much-awaited getaway while enjoying premium Malaysian Hospitality service throughout their journey,” she said.

MAS also took the opportunity to reassure travellers that it is committed to providing a safe and seamless travel experience via its MHFlySafe campaign, with all consumer touchpoints properly sanitised. Travellers are also reminded to abide by the standard operating procedures (SOPs) that were put in place, whereas those travelling during the upcoming festive season are urged to arrive four hours before the scheduled time of departure for a smooth check-in process.

(Source: MAS [
1
,
2
])

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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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Apple iPhone 6 In Malaysia – The Rumours So Far

Apple is keeping mum about the latest iPhone announcement and release date, but the tech world is buzzing about the upcoming craze that is the Apple iPhone 6. There are plenty of rumours and so-called genuine photos of the next generation iPhone available online (you just have to search “iPhone 6” on Google to see them all), but which is real, and which isn’t?

So, while we wait for Apple to issue a formal announcement date (and more info!), let’s take a look at some of these rumours that’s been gathering online about the iPhone 6 so far!

Apple iPhone 6 at a Glance

We don’t know for sure what it will look like, but a slew of leaked photos, designer mock-ups, and analyst speculations paint a prospective picture. Let’s uncover them one by one, shall we?

Release Date

Apple has set up a mystery event on the
 9th of September
, and the tech word believes this to be the unveiling of the mysterious Apple iPhone 6. If we were to dig up the past, the iPhone 5 and 5S were also revealed in the month of September 2012 and 2013 respectively, which further strengthens the theory. If Apple follows a similar pattern as the release of these two smartphones, then Malaysians can expect to get their hands on the latest model some time in December 2014.

But wait, there’s more – there are rumours swirling around the net that Apple might also unveil their first ever wearable device, which the industry is currently calling the ‘iWatch’, during this mysterious event.

Size and Appearance

Compared to the once trendy flip-phones (Moto Razr!), the “huge” 3.5 inch display on the first ever iPhone model was revolutionary. But it wasn’t long before phablets like the Galaxy Note 2 entered the market, making the iPhone screen display seem puny in comparison. You could almost feel that apple felt the same way; when the iPhone 5 was released in 2012, the screen grew by 0.5 of an inch.

Perhaps the biggest rumour about Apple’s next iPhone is the screen size, which is expected to increase significantly. Last year, there were two Apple iPhone models and many predicted that Apple would repeat the pattern for their latest gadget. If this is true, fanboys and girls will be looking at a larger 5.5 inch model (the biggest iPhone so far) along with a 4.7 inch model.

Size comparison taken from
macrumors.com

An image of the alleged Apple iPhone 6 (right), as posted in
 macrumors.com

With these expectations, tech enthusiasts can’t help but wonder about how a larger iPhone 6 would size up against notable smartphones like Samsung Galaxy 5 and Google Nexus 5.

Apple iPhone 6 Specifications

TouchID and Sapphire Crystal Display

A safe bet is the appearance of TouchID, a fingerprint sensor similar to the one planted on the iPhone 5S. Another much talked about aspect is the sapphire crystal display – which is supposed to make the screen almost scratch proof for at least one of the models as well as the iWatch. Sapphire crystal is used in high-end watches and camera lenses already. To give you an idea of just how durable the sapphire screen actually is, Maques Brownlee puts; what he claims to be an actual iPhone 6 screen from the assembly line; to the ultimate test.

iOS8

One thing that we do know is that the new iPhone will definitely run on
iOS 8
.

iOS 8 will be compatible with most Apple devices except 2010’s iPhone 4; also compatible with the iPad 2, iPad with retina display, iPad Air, iPad Mini and even the iPod touch 5th Generation.

No more pesky pass code. All sorts of apps will be able to use the biometric scanning home button. So far, this is only available for the Apple iPhone 5S, but TouchID is likely the next step for iPhone 6, iPad Air 2, and iPad Mini 3 that will be released later this year.

iOS 8 enables you to scan credit cards via an iPhone or iPad camera and automatically fill in the details to make online shopping easier.

iOS 7’s slow motion video recording for the iPhone 5s was a pretty nifty trick. This time around, Apple have thrown in a time-lapse camera mode to iOS 8 which can capture extended moments that that can be automatically sped up in a video at a higher frame rate. But then again, there are plenty of time lapse apps available on the
iTunes
 store even now.

iOS 8 SMS and incoming calls will finally appear on your iPad and Mac computer!

iOS 8 group messaging method will finally catch up with WhatsApp and other similar messaging apps– you’ll be able to add and drop people from conversations and silence non-stop incoming group messages. You could also send voice or video message via iMessage.

For the times when you do actually respond to texts and calendar reminders on your phone instead of a Mac computer, iOS 8 adds convenient interactive notifications.

There will be a quick type keyboard and extensions.

There will also be a Health App that can track calories burned, sleep, nutrition and more.

Then there’s HomeKit which sort of acts like a universal remote control for your home.

Siri is going to be a better listener (finally!)

Metal Chassis

Based on
Forbes’ predictions
, both of the potential iPhone 6 models are expected to sport a unibody metal chassis – most likely aluminium. If the sapphire display rumours are true, the new iPhones could be some of the toughest smartphones ever made; a factor that could turn even the most hardcore Android user into an Apple fanboy.

Improved Camera Tech + Megapixels

With the rumours of a bigger screen and size, Apple lovers are hoping for a higher megapixel on the camera – and they might get it, plus more, since iOS 8 gives a lot more control over camera elements like shutter speed and focus.

Price

With all of the significant changes above, how much would we have to pay in Malaysian Ringgit for this sought after Apple machine? For now, the price for the iPhone 6 remains unclear, but it should be at a similar range with iPhone 5S, from RM2,399 to RM3,149.00. Fingers crossed!

Where can I get one now?

Hold on there, eager beavers! There will be plenty of online sellers claiming that they have the genuine iPhone 6 for sale, but considering that we don’t even know what it looks like, it’s best to wait for the official release. Telcos in Malaysia will surely have a bundle plan ready for the Apple iPhone 6, so stay tuned while we churn out more information for you!

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Financial Feng Shui Tips for 2018

Feng Shui is more than just an art of being lucky; it is a complex system of laws considered to govern spatial arrangement and orientation in relation to the flow of energy (chi), and whose favourable or unfavourable effects are considered when siting and designing buildings.

Although Feng Shui is mainly used to decide placements of items in offices and homes, the system has been used in surprising ways that goes beyond its original purpose. In this article, we will be exploring the interesting Feng Shui tips to maximise wealth.

Wallet

Yes, there is such as a thing as financial Feng Shui for your wallet. To be fair, it is logical since it is the very place where your money and cards are stored.

One tip to make your wallet a wealth magnet is to keep your wallet free of clutters by removing all unnecessary things like receipts, expired credit cards or junk. This action ensures there is room for new energy to flow and remove any stagnant energy.

The other tip is to choose the right colour for your wallet. Colours like black, brown, green and yellow are the best colour to attract the energy of wealth, while colours blue, red, pink and purple are only suitable to other purposes like improving relationships or driving the wealth energy away.

Clothes

Some experts emphasized the need to wear the right coloured clothes to attract luck depending on each year.

The lucky colours for the year 2018 are terracotta, light yellow, baige and sandy to match the animal sign of the year: the earth dog. Colours red, orange, purple and pink can be considered as these colours represent fire, the element that produces earth.

The main unlucky colours are blue, white, grey and green as they represent elements that are not in harmony with earth: water and wood. So, this could be the time for you to use some of your cashback cards to go fashion shopping.

Cars

Feng Shui, normally associated with placement of furniture in office and homes is now applied in choosing the colour of the car that suit a person’s feng shui. Feng Shui website Feng Shui Beginner devised a way to find the colour for either wealth or family luck by using one’s birth year to calculate find the individual’s kua number.

The kua numbers identify directions to boost different aspects of people’s lives. Although the colour that attracts wealth varies according to each person’s kua numbers, the colours that are frequently connected to wealth are darker like brown, burgundy, purple and dark green. You can find your lucky colour for wealth
here
.

Pets

The good news is pets bring good Feng Shui to your house and provide good chi energy flow via their movements. However, there will be many bad implications if you do not take care of them properly.

One of these implications is financial losses if you neglected your pets as experts stated that a neglected pet will bring bad Feng Shui and misfortune to the house. An example will be that if the water in the aquarium is not regularly clean, the dirty and stagnant water that could lead to financial losses.

Like the previous mention on wallets, one key principle of Feng Shui is the need for room to let the energy flow. As a result, your pet’s waste and clutter, if not dealt with, will result in stagnation and lack of good energy flow. The same can be said if you lock your pets in a cage or do not have enough room in the aquarium for them to move around.

Angpow

One of these interesting dos and don’ts is the advice to avoid using expired angpow packets. According to some elders, this act of reusing angpow packets is viewed as being disrespectful or lacking the heart to give blessings.

Another advice is to use brand new ringgit notes in your angpow. This act represents a fresh new start and symbolizes the giver being ready to welcome good things in the coming year.

In Conclusion

There are many applications of Feng Shui in different aspects of life, including finance as it turns out. If you’re not a believer in the transformative powers of the chi, then perhaps you’d want some literal advice on getting your finances in order. In that case, you can check out our section on financial tips right here.

But if you’re someone who can’t wait to rearrange your furniture, buy new coloured clothes, and reorganise your wallet, then we hope this article has been useful for you.

We wish all of you a Happy and prosperous Chinese New Year and have fun with your preparations!

While you are trying to maximize your wealth, consider finding a savings account that suits you with
our comparison tool
. Do you have your own financial feng shui tips that we’ve missed out on? Do share your thoughts, comments, and ideas, in the comments section down below!

These tips above are for entertainment purposes only. It is not meant to constitute sound financial advice. RinggitPlus and its’ affiliates, are not responsible for any loss or detriment suffered through the improper use of the information contained herein.

This article is compiled from
Feng Shui Beginner
,
Red Lotus
 and
Know Feng Shui
.

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Brian Chung

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Save On Home Entertainment & Internet With Astro Pek Jimat Internet RM109

With the current economic state, it’s not unusual for people to look for new ways to save money. While some prefer to stick to old school approaches like the pigeonhole method (where you segregate your cash into different envelopes that all serve different purposes), others may resort to alternative, new-age ways like trying to learn blockchain technology.

One thing that we can always do, no matter what our style may be, is to review our current spending and to make better, more cost-efficient financial decisions. This includes anything from the kind of vehicle you decide to purchase to the amount you spend for home entertainment.

Save RM39/Month With Astro Pek Jimat Internet RM109

If you like sitting back and enjoying entertainment on the TV, consider subscribing to Astro Pek Jimat Internet RM109. Why? Because it includes 85+ Astro Channels and Fibre Internet all for the price of RM109.99!

That’s 85+ channels to choose from, including HD channels like Astro Awani, Astro Quan Jia, and Astro Arena. Not only will you get to save RM39/month on your Astro Primary Pack, but you’ll also get to enjoy an unlimited 30Mbps broadband subscription.

For many, Astro has grown synonymous with its satellite dish, a component that used to embellish the roofs of houses in neighbourhoods across the country. With Astro Pek Jimat Internet RM109, users will receive a FREE Astro Ulti Box.

Home Entertainment & Internet In A Single Bill

As for the less exciting aspect of the bundle, the payment process, users will also be able to benefit from a convenience that not everyone gets to enjoy. With Astro Pek Jimat Internet RM109, both the Astro Channels and Fibre Internet come in a single bill – which makes paying more convenient as opposed to separate ones.

Offer Ends 31 March 2022

With the prices of general goods constantly on the rise, everyone can benefit from minimising their expenses, one way or another. For those in search of a 2-in-1 home entertainment and internet bundle, Astro Pek Jimat Internet RM109 makes for an affordable option. Not only would users be able to save RM39 each month on a selection of 85 channels suited for the entire family, they’ll also enjoy the convenience of a single bill as well as the benefit of unlimited data!

Find out more about Astro Pek Jimat Internet RM109 by
visiting the website here
.

To enjoy the “One Home, One Internet” music video,
click here
.

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Choosing the Best Payment Method for Your Business

We’ve talked before on
how to turn any one of your hobbies into a side income
, and even elaborated on
how to leverage social media
 to help sell your stuff online. But what we haven’t told you about is how best to get paid.

There are many ways to receive payment from your customers and the method you choose can affect how smooth your day-to-day business will be. Here, we have a general breakdown on the different payment methods you can choose from and their pros and cons.

Cash on Delivery

The classic way to get paid. Deliver your goods straight to the person and receive cash directly from them.

Pros:

Quick and easy – No need to key in any PIN numbers, get any extra information, or deal with kiosks. Take the cash, and insert into your wallet. Done.

Lowest risk of fraud – In addition to being the most direct way of getting paid, you also have a reduced chance of fraud. The only way to get swindled is by being paid counterfeit money, which is a rare enough occurence to be negligible.

Cons:

Can be dangerous – Being seen exchanging goods for money in a public (or even private) place can carry heavy risk. You may become the target of robbery, or theft. Carrying cash around also increases the risk of misplacing it, or it being lost due to weather or accidents.

Does not scale well – Should your business grow, it becomes less and less economical to continue hauling off items to customers and taking their cash in hand. You’d eventually have to pay for staff to help you and their travel expenses, which may tip the profit / loss scale out of your favour.

Unfeasible for some items – Items that are too large or cumbersome to carry around poses plenty of difficulty. Online services or goods are also difficult to sell this way.

Good for:

Small local businesses where the goods or services rely on excellent customer relations, or side businesses that are in their early stages or not looking to expand too quickly. Examples: special interest hobby items, antiques, local seasonal items or handmade goods.

Direct Bank Transfer

Another method that’s less cumbersome than cash on delivery. You give out your bank account number and wait for your customer to bank in the funds before delivering your products.

Pros:

Deals directly with banks – You don’t have to travel to meet anyone in person. Saving you time and resources for you to focus on making your product great.

Safer than cash – You run no risk of being given counterfeit money or getting robbed.

Cons:

Scales better than cash, but only to a point – As your client list grows, it gets harder to track which of your customers have paid or not.

Not that secure – Getting proof of transfer from the customer is also not the most secure way to conduct transactions.

Good for:

Businesses that have been using cash on delivery, but are looking to slowly expand. Businesses that sell products to customers unlikely to have credit cards. Example: any drop-ship business, businesses that are state-wide, but not nationwide.

Credit Card

The ubiquitious plastic used for all types of shopping, from online retailers, to petrol stations, to an ice-cream cone from the supermarket.

Pros:

Secure – Even safer than direct bank transfers, credit card transactions can be contested and fraud detection is more robust.

Access to online payment gateways – Great for selling your products online, using an online payment gateway makes it much easier for your customers to pay for your products too.

Cons:

3% price increase – Banks charge on average a 3% fee for credit card transactions so this will affect the price of your products or your profit margin.

Setting up a payment gateway – There are many different payment gateways to choose from and the trouble it takes to get one up and running might be too cumbersome for some.

Good for:

Most businesses seeking to expand to the most number of clients and customers.

Conclusion

As you can see there are good points for each of these methods of payment. The most important thing is to understand what your business needs are and choose the one that makes the most sense for you. While we’re on the topic, here some
different types of online payment gateways
 you can choose from and how to pick one.

Do you have an idea of how to choose the best payment method for your side business? Do let us know in the comments section below!

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Ahmad Mudhakkir

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Where Do Debts Go When We Die?

Loans, credit cards, and mortgages all work on the assumption that we can pay back what we borrow from the bank in the future when we have the funds. But suppose the future doesn’t come for us? What then? While death may not be the sexiest subject to talk about, it’s still a highly important one to prepare for. With that, let’s answer the question: What happens to our debts when we die?

When you’re still alive, your property (which includes assets and liabilities) are just called ‘your property’. You own them, and are responsible for them. Simple. However, upon your death, your property will be called your ‘estate’. It doesn’t matter if you never owned any land, that’s just what everybody calls it.

Upon your death, an administrator (or several) will be appointed to manage your estate (either by yourself through your will or by the government if you never got around to writing one). Your creditors will then have the legal right to retrive the amount you still owe from your estate. This includes taking ownership of your house for auction, repossessing your vehicle, or other methods to get their cash back. In fact, until all your debts are repaid, the distribution of your estate to your kin as per your will won’t take effect.

Will They Go After My Family?

Often, the administrators to your estate will be your next of kin (even the government appointed ones) and yes, they’ll be responsible in managing your estate should your creditors come for their cash.

However, they do not have the right to go after the administrators themselves and insist that they pay out of their own capabilities. Remember: your creditors are only entitled to your estate, not the administrators.

There is an exception to this rule, though. If someone else was jointly liable on the debt together with the deceased. In this case, the surviving co-signee will have to repay the rest of the debt on their own, and the bank won’t be wrong to chase after them.

What if My Estate is Not Enough to Pay Off My Debts?

In this situation, banks may be willing to write off any unpaid amounts as losses and move on. But, there have been cases where creditors insist on getting their payment from family members and even threaten to sue. Should this happen, we suggest contacting an attorney to figure out your next move. Things can get complicated should the banks decide to move things this way and it’s best to get legal counsel.

In order to truly protect your loved ones from bearing the brunt of your financial dealings, be sure to get your loans, credit cards, and other debt insured whenever possible. They may be a little pricey now, but there’s no price too expensive for peace of mind. Speaking of getting insured, check out
our insurance comparison tool
 to find the best way to protect you and your loved ones from the unexpected. Do you have anything to contribute to this article? Share your thoughts with us in the comments section below!

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Standard Chartered Credit Cards: Take Control Of Your Body!

If you’re been tossing around the idea of joining a gym maybe this will motivate you: Celebrity Fitness is offering Standard Chartered credit cardholders a 14-days gym trial pass for free.

This offer which is worth RM350 is open to non-Celebrity Fitness members and visitors who have not previously received a gym trial pass. In addition Standard Chartered cardholders who sign up as a Celebrity Fitness member will enjoy a joining fee waiver (worth RM290) and a one-time personal training session (worth RM180) free.

Promotion is valid till 30 June 2013 for Standard Chartered credit card and debit cardholders. Please refer to the
Terms & Conditions
 for further details.

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How to Spend Money Overseas Without Converting Your Cash

Carrying cash when travelling is usually the most convenient and inexpensive way to take money overseas, but it does a have a serious drawback – money lost or stolen is unlikely to be recovered. Furthermore, it might be difficult to estimate a sufficient amount of local currencies, adding to your travel hassle.

So what are your money options then? Check out these five safe, alternative ways to take money and backup bucks abroad:

1. Credit Cards

The best thing about using credit cards abroad is that you often automatically enjoy attractive conversion rates. It’ll likely be accepted almost everywhere and there isn’t much prep needed except to contact your issuer and inform them of your travel plans in addition to activating the overseas flag where necessary.

The one gripe people have with using credit cards abroad are the foreign transaction fees which range from 1% to 3% of each purchase amount. To negate this, look for a card that has very minor or no service fees at all.

In addition, remember to instruct the cashier or teller to charge your card in the local currency to enjoy lower exchange fees.

2. Debit Cards

You can use debit cards overseas to make payments but you’ll need to activate your overseas flag first. This can be easily done via online bank account services, at an ATM and with some providers, even over the phone.

There are restrictions however, for instance, some merchants may decline foreign issued cards. You may also have a lower maximum transaction limit that is based in Malaysian Ringgit, typically up to RM5,000 (Visa) and RM10,000 (MasterCard) per day depending on your issuer.

Since debit cards also function as ATM cards, you may use it to withdraw cash, but note that withdrawal charges will vary with providers, ranging from zero fees up to RM12 per transaction.

3. Prepaid Cards

These cards function a lot like debit or ATM cards and are a safe travel money option because even if it is lost or stolen, all you have to do is contact the issuer to have the card blocked. A new card can be sent to you rather quickly in most cases.

To use the card, simply load in the currency of your choice and swipe as you would a debit or credit card, where you can also use it to make withdrawals at approved ATMs. If you run low while abroad you can continue to top up the card via an online account or by phone (but do consider the cost of making overseas calls).

Costs related to the card include a purchase fee (typically RM10 to RM20), foreign transaction fees, which is on average 1% of its Ringgit equivalent per transaction, and withdrawal fees. You can get a prepaid card issued from Malaysian banks but local cards may require activation to enable usage when you travel.

4. Digital Currency

Digital currency or more specifically cryptocurrency, like
Bitcoin
, makes a lot of sense when travelling. For one, there isn’t any foreign transaction fees imposed as you travel and spend between countries and regions. That’s not to say there are no charges at all – you do pay some transaction fees (and
others
) that competitively vary between providers.

Note that you can use Bitcoin to pay for almost anything – hotel bookings, dining, flights, entertainment and transport, but you will first need to
buy
 the bitcoins you require and store it in a
digital wallet
. In addition, should you require an exchange; you’ll need to find bitcoin accounts in your destination country to enable selling your bitcoin for local currency.

The restrictions you might face however, is the level of acceptance for such currency, which varies in different parts of the world, so you’ll need to research its viability before departure. Also beware of scammers, they do
exist
. Keep safe by reviewing local exchange accounts before signing up.

5. Traveler’s Cheques

It’s safer than cash but it can be a costly purchase. Local banks charge a 1% to 2% commission on the purchase amount for non-bank customers.

For instance, if you plan to purchase a currency equivalent of RM1, 500, you will be charged anywhere from RM15 to RM22.50 which is not inclusive of 6% GST and stamp duty plus more commission fees when you intend to cash the cheque.

While it remains a safe option (if you lose it, you can cancel it), you will need to consider the costs of traveller’s cheques before buying.

It’s best to have at least one or two credit cards on hand with you for emergencies when you travel. Some cards are so rewarding, they even provide insurance coverage and extra travel rewards when you swipe for related purchases. Check out our
comparison page
 to find a list of the best travel credit cards available in Malaysia.

While you are looking for a
travel credit card
, don’t forget to head to our Travel Getaway Campaign for great freebies when you apply for selected credit cards!

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Desiree Nair

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