Malaysians To Pay More For Favourite Snacks, Including Pisang Goreng And Keropok Lekor

(Image: FoodAdvisor)

Several food hawkers selling some of Malaysians’ favourite snacks – such as
pisang goreng
,
keropok lekor
, and fried chicken – have had to mark up the prices of their wares by RM0.50 to RM1.00. This is as they struggle with the rising cost of the ingredients.

Owner of
pisang goreng
and
keropok lekor
stall in Pantai Dalam, Zumara Zakaria said that he has had to raise the prices of the snacks to cope with the increased price of cooking oil. He explained that this is because the 5kg oil he uses for his business is now priced at RM42.50.

“I was astonished as I use bottled cooking oil at my stall. I have to continue using the same brand and have to dig deeper into my pockets,” he stated, adding that he now has to sell his
pisang goreng
at RM3.00 for five pieces, as compared to RM2.00 previously. Meanwhile, his
keropok lekor
is now sold at RM2.00 for five pieces instead of RM1.00 for three.

(Image: TripAdvisor/Yhteoh)

“Then there is the cost of the Johor-style
sambal kicap
 I have to factor in. The price of chillies has gone up by RM10.00 a kilogramme to RM30.00. It used to be RM20.00 a kilogramme,” Zumara also shared. He said that the price of plastic packaging has also gone up.

If things were to get worse, Zumara remarked that he may try to reduce the cost by switching over to the 1kg polybag cooking oil. However, that comes with its own set of challenges too, as polybag cooking oil is often low in supply at supermarkets and grocery stores. In such a situation, he may still have to purchase bottled cooking oil to continue his business.

Similarly, owner of fried chicken stall in Kajang, Nurul Huda Aras Hasan said that she, too, has had to increase the price of her jumbo-sized fried chicken and chicken sausage by RM0.50 – now selling at RM9.00 and RM4.00, respectively. The increase is inevitable as the costs of chicken and cooking oil have shot up. The prices of seasoning, cheese sauces, skewers, and plastic packaging have also risen, she added.

(Image: The Star/Izzrafiq Alias)

“I need to take care of my customers, too. Raising it by RM1.00 is too much. I feel RM0.50 is all right, but even that was questioned,” Nurul Huda further said, noting that the increase is still lower than the price increases by other stalls.

“So far, my business is okay. It has gone down a little, but it is still manageable,” Nurul Huda further said, adding that she also surveys ingredient prices at various supermarkets to secure the lowest prices.

To note, the government has recently
removed the subsidies for bottled cooking oil (2kg, 3kg, and 5kg)
, and
increased the ceiling price of standard chicken from RM8.90 to RM9.40 per kg
. These changes took effect starting from 1 July 2022.

(Source:
New Straits Times
)

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Nur Adilah Ramli

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Get RM50 Off Travel Insurance On Lazada This 11.11

You can now buy travel insurance policies on Lazada! RinggitPlus now has
its own store in Lazada
 where you can purchase travel insurance policies from Allianz and Etiqa, with more to come.

Our new store on Lazada allows you to easily purchase both single-trip and annual travel insurance policies with the same ease as buying anything on Lazada. The policies that you can buy from the
RinggitPlus store on Lazada
 are:

Etiqa TripCare 360 Gold

Etiqa TripCare 360 Takaful Gold

Allianz Travel Easy

You can check the available listings on Lazada. All you need to know is the duration of your trip and your destination, and you’re ready to make your purchase! You can get these policies for trips within 1-10 days long for destinations both within Asia and worldwide. You can also consider getting yourself an annual policy with Etiqa or Allianz if you are a frequent traveller. Just as it is normally, policy prices will differ based on destination and duration of travel.

The best part is that we’re giving you vouchers for your travel insurance in conjunction with Lazada’s 11.11 sale! You can get
RM20 off
 with a minimum spend of RM21, and
RM50 off
with a minimum spend of RM51! Vouchers are limited, so be sure to collect them starting 10 November for use on 11 November. To nab yourself a voucher, stay tuned to the Lazada 11.11 Super Show this Sunday 10 November at 9pm on TV3 or in the Lazada app. You can also collect the vouchers in the
RinggitPlus store in Lazada
 from 10 November onwards.

If you’ve already got your travel plans sorted, 11 November is a great time to purchase travel insurance for steep discounts!

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HSBC Platinum Credit Card Relaunch: Up To 8x Points For Contactless, Online Spend, And More

HSBC is relaunching the HSBC Platinum Credit Card next month. Known by many as a go-to credit card for additional points on shopping mall spend, the revamp will see huge changes to the card’s rewards benefits from 15 July onwards. Instead of additional points on mall spend, the HSBC Platinum Credit Card will be awarding its 8x and 5x rewards points for contactless transactions and online, groceries, and overseas spend respectively.

The
HSBC Platinum Credit Card
 offers 1x rewards points for all retail spend, but awards additional points for specific spending categories. Currently, cardholders receive a total of 8x rewards points for using it in The Gardens and Mid Valley Megamall, and 5x points at other participating malls. From 15 July, HSBC Platinum Credit Card members will instead receive additional points for contactless, online, groceries, and overseas spend. According to HSBC, contactless payments refer to usage of the card via Mastercard Tap & go, Visa payWave, and Samsung Pay.

Here’s what the HSBC Platinum Credit Card’s new benefits will look like.

Expenditure

Rewards points

Monthly cap

Contactless purchases

8x

3,000 points

Online shopping

5x

3,000 points

Groceries

5x

3,000 points

Overseas spend

5x

6,000 points

Other spend

1x

None

Under the new benefits, HSBC Platinum Credit Card members can earn up to 15,000 additional rewards points per month. Previously, the additional rewards points were capped at 10,000 points for spend in Mid Valley and The Gardens, and 10,000 points for spend at other malls. There are no changes announced to the ordinary 1x rewards points for all other spend using the HSBC Platinum Credit Card, which exclude some types of expenditure such as petrol and government transactions.

The revamped points-earning categories make the HSBC Platinum Credit Card a lot easier to accumulate rewards points, especially with the introduction of contactless payments as a specific category – the only caveat being that each transaction must be under RM250. The changes also benefit those who prefer to do their shopping online or outside of crowded shopping malls – and of course those who travel now have an incentive to use their HSBC Platinum Credit Card overseas too.

As mentioned above, the changes to the
HSBC Platinum Credit Card
 will only take place from 15 July onwards for all new and existing cardholders.

(Source:
HSBC
)

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Buying a House in 4 Simple (But Not So Easy) Steps

Playing Monopoly makes buying a house look pretty easy. But in real life, it takes a lot more than some lucky dice throws and a simple exchange of coloured paper. While we’ve mentioned home loans, mortgages, and real estate-hunting tips in the past, we feel it might be useful to lay down the basic steps of buying a house, from seeing an ad in the classifieds, all the way to having the keys in your hand.

Step 0: First Off, You Probably Can’t Buy One in Cash

Less a step and more of a general understanding you should have. Unless you plan to live in a wardrobe of some kind, houses are often too expensive to ever purchase just with the cash you have on hand. Much like how cars come with hire purchases, houses come with mortgages. A mortgage is when you take a loan from a lender (typically the bank) and pay them back in increments while they let you use the house until you finish paying it off. Now that you know this, you can start to…

Step 1: Figure Out What Sort Of Property You’re Buying

Freehold, leasehold, a landed property, a condo unit, and where it’s located can all affect how much the lender is willing to loan out to you. Generally, the more usable and valuable it is for the lender in case you default on your loan, the better the deal you can get. Therefore, a freehold is better than leasehold, a growing township is better than a dead neighbourhood, and so on.

Step 2: Shop Around for the Best Mortgages

Now that you have an idea of what kind of house you want, you can start looking around for the best home loans that you can afford. Remember that lenders will look at your credit score too as a factor in determining how much interest rate to charge and how much to lend to you. Check out our tips on boosting your credit score to optimise the types of loans you’ll get.

Also, keep an eye out for home loans that are specifically offered to first-time home owners. These loans would typically have names like “Rumah Pertamaku” or “My First Home”. These loans have strict criteria attached to them which may not fit the type of house you want, but they offer lowered interest rates, lowered fees, more flexible tenure, and other perks that make it worth a look.

Step 3: Pick a Property

You can do this one of two ways: by enlisting the help of a real estate agent, or by sourcing out the properties yourself. Unless you already know exactly which house, down to the unit number, you will need to do some bit of research to find the right house that fits your needs. A real estate agent can help you do that. Don’t be afraid to use their services since it costs you nothing until you sign with them. Keep in mind that they will charge a finder’s fee or commission to the agent upon your purchase, which is typically an additional 2-3%.

The alternative is to look around for properties yourself. Go to property expos, make friends in the development industry, or join some online discussion forums to really get a handle on where to go to get the best properties. This way takes a lot of work, but it does cut out the middleman and can be important experience if you plan to invest in properties yourself in future.

Step 4: Paperwork

Once you know which property to go with, the only thing left to do is the paperwork. The first part of it relates to ownership transferral. This part is done wherever the owner of the property sets up shop, which always involved some lawyer fees. A note on the lawyer fees: you can likely get your fees discounted if you ask nicely.

The other piece of paperwork involves the dealings of the loan with the lender. Bring your papers to the bank and follow through with the mortgage application. Once all this is done, you just need to wait for your state’s Land Office to complete
their
 paperwork, and the keys to your place will be in your hand in about 3 months.

There you have it. While these steps are indeed simple, doing them does take a bit of work. But at least now you know what to do, what to watch out for, and what to consider before buying yourself a brand new home. You can even go to our
home loan comparison tool
 to check out the best mortgages in Malaysia that suit your needs! Have something to contribute to the article? Share your thoughts with us in the comments section down below!

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Ahmad Mudhakkir

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StashAway Officially Launches Flexible Portfolios, First Of Its Kind In Malaysia

Wealth management platform StashAway has officially launched its Flexible Portfolios feature for all investors, allowing them to customise their own unique portfolio by picking their preferred asset classes and adjusting the allocations. It is the first of such products to be introduced in Malaysia.

With this, StashAway investors will be able to choose from a list of curated exchange-traded funds (ETFs) that represent more than
55 different asset classes
. Among others, you’ll be able to select from options such as the S&P500, Nasdaq100, REITs, Gold, Emerging Markets, Blockchain – with underlying ETFs from global fund managers like Vanguard, ARK, and iShares.

Note, though, that you must allocate a minimum of 3% for each selected asset class within your Flexible Portfolio, although there is no minimum investment amount requirement. You are also required to keep at least 1% of your assets in cash for rebalancing and any necessary platform fees.

Aside from that, StashAway will help to calculate the risk level of its investors’ Flexible Portfolios, ensuring that they know exactly how much risk they are taking as they carry out their customisation.

The robo advisor further clarified that it will help you to rebalance your portfolio when your asset allocation changes due to market fluctuations or other factors. “When market changes influence the asset allocation of your portfolio, we will re-align it to its target proportion (weightage) by buying and/or selling specific assets. Your portfolio is also rebalanced when you make a deposit, request a partial withdrawal, or make a change in the allocations within your portfolio,” it noted in the FAQ for the new feature.

However, StashAway will
not
 reoptimise your Flexible Portfolio for you even if there are changes in economic conditions. Instead, it will notify you if there are major changes to your portfolio’s risk level, and it falls upon you to make the necessary adjustments so that your portfolio still meets your needs and risk appetite.

As for fees, there will be the usual management charges of between 0.2% p.a. to 0.8% p.a. (depending on your investment amount), and no subscription, switching or rebalancing fees. Unfortunately, users are currently unable to convert an existing portfolio to Flexible Portfolio, but StashAway said that it is working to make the customisation experience even more flexible.

Country manager of StashAway Malaysia, Wong Wai Ken said that the launch of Flexible Portfolio is timely as it is a function that was highly requested by its users. “We really value feedback from our investors, and many were keen to create or customise their own portfolios according to their risk appetites. We are excited that our clients are becoming more and more savvy as they invest with us, and are pleased to enable them to have a say while we still deliver on two of our core values: investment intelligence and risk management,” he said.

StashAway’s Flexible Portfolio
 had actually already been rolled out earlier back in May 2022, but it was only made accessible to small pool of selected investors in a beta run then. Now, with the official introduction of the feature, StashAway is offering a launch promo that waives the management fees on any fresh funds deposited into any Flexible Portfolios. Investors will be able to take advantage of this promo for up to a year, all the way until 30 June 2023.

(Sources:
StashAway
,
FintechNews Malaysia
)

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FOMCA Urges Banks To Extend Moratorium Until December 2020

(Image: New Straits Times)

The government should consider extending the six-month moratorium offered for bank loan repayments until December 2020, said the Federation of Malaysian Consumers Associations (FOMCA).

According to the president of FOMCA, Datuk Marimuthu Nadason, the Malaysian public will have difficulties making ends meet after suffering loss of income and jobs due to the Covid-19 pandemic. The struggle will be compounded if they had to pay all the debts accrued throughout the movement control order (MCO) and conditional movement control order (CMCO) at the same time.

Datuk Marimuthu also commented that while the MCO and CMCO period have already been lengthened to 84 days, it may be further prolonged if there is a spike in the number of infections. In the face of financial uncertainties caused by this, he urged banks to lend a hand by extending the moratorium.

“FOMCA calls on the government to extend the loan deferment from the present six months to nine months. This would enable workers to hopefully get back into the job market with their current employers, and those who lost their jobs with new employments,” said Datuk Marimuthu in a
statement
.

As part of the Prihatin economic stimulus package, Bank Negara Malaysia (BNM) had announced an
automatic six-month moratorium
 for individual and SME loans, starting from 1 April 2020 until 30 September 2020.

(Source:
Malay Mail
)

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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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Win An iPad 10, VivoY20 Smartphone And More In RinggitPlus’ Latest Unbox This Week Campaign

The Unbox This Week campaign is back —  this time with more great prizes from our featured banks! If you’re unfamiliar with what the Unbox This Week campaign is, here’s a refresher: Every week we present to you fantastic weekly flash deals from our featured bank partners. All you need to do is apply for selected credit cards from these banks of the week through RinggitPlus and you’ll take home some great prizes.

This week (5 April – 12 April) the featured banks are
Citibank
,
Standard Chartered Bank
, and
HSBC Bank —
if you’ve considered applying for a credit card with any of these banks, check out the rewards they’re offering below.

Citibank: iPad 8th Gen 10.2″

Stand a chance to win an Apple iPad 10.2″ when you apply for selected cards from Citibank through us! The tablet will be gifted to 40 randomly chosen successful applicants who submit their application 5 April – 12 April. Remember to also activate and spend a minimum of 8 retail transactions on your new card within 60 days upon gaining approval.

For all the other applicants who do not win the iPad 10.2″, no need to be disappointed because you get to walk away with something cool too! We’re gifting you a set of Redmi Airdots Earbuds and Haylou LS02 Smartwatch.

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.

Standard Chartered: Vivo Y20 2021 Smartphone

As the only featured bank with a guaranteed gift for ALL approved applicants in this week’s campaign, everyone’s a winner when you apply for selected Standard Chartered Credit Cards.

Take home a Vivo Y20 2021 Smartphone and all its cool features when you apply with RinggitPlus and get approved for selected Standard Chartered Credit Cards. Just remember, you will need to activate your card within 30 days upon approval to be eligible for this prize.

Lastly, be aware that existing cardholders and individuals who have held a Standard Chartered credit card in the past six months are not eligible for this campaign. If you qualify, then you can
apply for your new Standard Chartered credit card here
.

HSBC: Galaxy Tab S6 Lite

Not to be left behind, HSBC is giving away 40 units of Samsung Galaxy Tab S6 Lite to randomly chosen successful applicants. To be in the running, just be sure to submit your credit card application by 12 April. Don’t forget to activate and spend a minimum of RM1,000 on your new card within 60 days upon gaining approval.

However, even if you’re not one of the 40 winners, you won’t be left empty-handed. Successful applicants who don’t receive the Samsung tablet will still get a Pensonic PVC-1000H Vacuum Cleaner to sweep away disappointment.

That said, do note that current cardholders and applicants who were denied within six months prior to this campaign, as well as those who have cancelled their HSBC credit cards within three months prior to this campaign are not eligible for our campaign. Otherwise, you can apply for your
HSBC credit card here
.

***

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

While this week’s flash deal ends on 12 April (1pm), 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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Should You Buy a Car or a House First?

So you’ve been earning a decent paycheque for the past 6 months and the question now arises: which big purchase should you make? In the quest to get settled (the home, the car, the spouse and white picket fence) the question then becomes, which to buy first? Many people have their theories on what you should or should not do but let’s look at plain facts.

Buying a House vs Buying a Car

A Car

A House

Base Price

RM35,000

RM300,000

Downpayment

RM3,500

RM30,000

Monthly installment

RM400

RM1,550

Interest rate

2.6% fixed (usual rate for new car)

4.65% reducing balance

Loan tenure

9 years (max)

35 years (max

Other costs (monthly)

RM300 (petrol), RM50 (maintenance + road tax)

RM300 (utilities), RM200 (maintenance)

Asset

Will Depreciate

Will Appreciate

Figures in the table above are minimum prices of a new vehicle and home.

The table isn’t exhaustive but it gives you an idea of what to expect with the purchase of either asset. A few obvious pros and cons stand out. Cars have a lower amount of upfront cash needed to purchase; it aids mobility increasing job prospects and the shorter tenure makes it a shorter, less scary commitment. The downside is that it is an asset that depreciates and will need to be replaced much sooner. A house on the other hand appreciates in value and in the majority of cases you won’t need to ever buy another one (unless you want to upgrade!). The downside though, is the high starting cost and the long repayment tenure that ends up locking people into almost lifelong loans that need to be paid no matter the economic changes or instability (the likelihood of which, is greater in 30 years than in 9).

So which should you choose?

There are many schools of thought and opinions on this.
Some say that you should ditch the cool ride dreams and save up for your home
. Once you have the home, and most likely a bigger paycheque, you can then buy a car. Looking at the long loan period, you want to start as early as possible. But there are some others who disagree.

The
‘Car-Buying Camp’
 say that by the time they save enough for a downpayment; the houses they aimed to buy would be so much more expensive; they would not be able to afford them anyway. In such an instance buying a car is preferable as it is a means of mobility and it’s easier to rent a home than rent a car or rely on an inadequate public transport system.

There are actually no right or wrong answers to this question. Whilst many personal finance gurus will urge you to choose the house; there remains the risk that when a person who is not ready for the financial commitment of home ownership buys a house, there is a higher likelihood of loan default and other financial mishaps occurring. It’s not an exact science but buying a home is a bigger commitment than buying a car (though both can be expensive choices!).

In the end, it’s a difficult question to impose one answer on and the real response would be that it is based on your needs; lifestyle and financial capabilities. But be that as it may; these questions should help you make a decision.

1. Which Do You Need More?

If you are able to stay with family or rent cheaply with roommates but then need to make a long commute to work; the car may be something you need more. On the flipside, if you do need a home in a new city where you intend to build a career or a family, renting for the long-term may not be the most cost-effective decision. Ultimately, your life should be enriched by the choice you make and not the other way around. Of course, if you find you need both, then perhaps the next question will be more helpful.

2. Which Can You Afford?

Have you already saved a substantial amount for a downpayment? Would you be able to afford the monthly installments and maintenance costs? Sometimes, we may want many things but the truth is; we can’t afford it! Check your finances and make a decision based on the money you earn now and not what you hope to earn in future.

3. What is Your Preferred Lifestyle?

For some people, the thought of renting a home is not at all a problem but they loathe the idea of living on public transport. Whilst we don’t mean that if you choose to buy a car now; you will
never
 afford a home, it does take longer to save up for a home downpayment when you have a hire purchase to pay. Yet for some others, the fear of being ‘homeless’ drives them to forego the car in favour of the owned home. Which one is you? The major factor in making a decision that involves such a large sum of money – is to ask yourself what you want for your future.

4. How does your credit score look?

Getting a home loan approved is a much bigger deal than getting a car loan approved. As such, you should have good standing with the credit bureau. Sometimes, having no score is a problem as the banks have no indication as to what kind of a paymaster you will be. As such, in some instances, it may actually be helpful to have a car loan in your name which you regularly and diligently pay down as opposed to nothing at all.

Maybe it Doesn’t Matter?

In the formulating of personal finance practices we make many assumptions. We assume our homes will always increase in value and that we’ll always have enough to make our mortgage payments. We then assume that we don’t need a car and that public transport will always help us get to work. What if we assume that it doesn’t really matter which you choose first and inevitably; you will be able to own both a house and car?

This falls back on the assumption that salaries should in general increase as years pass and the prospect of marriage enables a couple to purchase a home collectively making it more affordable. Even if you’ve chosen to buy the home first – a second household income may help pay for an additional car whilst supporting part of the home payments. So just maybe, the answer to which you buy first doesn’t really matter.

In the end, the best thing you can do when making this decision, is to do what is best for yourself and your budget.

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Diana Chai

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Faster Shipments, With More Than 95% Of Parcels Delivered The Very Next Day

We all remember being stuck at home during the pandemic with not much to do except trying out new recipes, catching up on movies, and scrolling our phones – which often end up in an impulsive purchase or two. Although we’ve progressed into post-pandemic times, online shopping is still a favourite pastime for many of us as it allows us the opportunity to window shop across different platforms, compare prices, and variations without the hassle of having to physically be in stores.

For businesses, the two metrics that highly contribute to successfully selecting a courier partner lies in their service and speed. When it comes to delivering parcels, speed plays an important role and whether we like it or not, will impact the service offered.

Regardless of where you live, you’re most likely familiar with Pos Malaysia. Pos Malaysia Berhad is a dynamic mail and parcel services, financial services and supply chain solutions provider with the largest delivery and touchpoint network in Malaysia.

Next Day Delivery For 95% Of Parcels

If speed is what you are looking for, 95% of parcels assigned to Pos Malaysia are delivered to customers the very next day. This means whatever you’ve ordered may arrive at your doorstep within the next business day.

Speedy Deliveries Between East & West Malaysia

Many businesses strive to serve customers across all ends of the country. Whether you’re operating in East Malaysia and trying to reach those in West Malaysia or vice versa, having your parcels delivered via Pos Malaysia ensures it’s speedy.

Pos Malaysia has two wholly-owned planes and each day, two flights travel back and forth between the two areas so deliveries are made securely and quickly.

High Volume, Integrated Parcel Centre

If you’re a business owner, you may have seen images of warehouses with thousands upon thousands of parcels and understandably, it may make you feel uneasy.

Rest assured that Pos Malaysia’s Integrated Parcel Centre can process over 200,000 parcels daily with high-tech sorting and distribution systems to minimise errors and prioritise speed-to-consumers.

Wide Network Of Drop-Off Points

Did you know that Pos Malaysia has 776 drop-off points across the nation? Through their
Outlet Finder
, all you have to do is input your address, city, state, or postal code to easily find the nearest drop-off point to you. You could also view the business hours of each branch if you’re unsure of when to drop off your parcel.

Widest Network Coverage

Besides having over 700 drop-off points, Pos Malaysia also boasts a wide network coverage, delivering to over 10 million addresses across Malaysia. If there’s a place within the country that you’re thinking of sending your parcel to, chances are you’re able to do so with Pos Malaysia.

Insurance Coverage

There’s always a risk when delivering your parcel regardless of the drop-off point or destination. To keep your parcel protected, Pos Malaysia also offers insurance coverage of up to RM200. Alternatively, you could also
add-on insurance
 for additional coverage.

COD & Free Pick Up Available

In case you didn’t know, Pos Malaysia also offers free pick ups with no minimum shipment requirement. Available for SendParcel prepaid customers and contract clients, this greatly reduces the time taken to process the shipment delivery such as having to drive to the drop-off point, searching for parking, finding a suitable time to go, and more.

Besides that, Cash On Delivery (COD) is also available for door-to-door deliveries. For businesses, COD ensures that there is no delay between the receiving of the parcel and the payment, while for customers, it allows them additional time to fund the purchase before the parcel arrives.

***

If you’re a business that highly prioritises speed-to-consumers, you may want to consider making Pos Malaysia your courier partner. After all, you’ll get to enjoy a multitude of benefits such as Next Day Delivery for 95% of parcels, the accessibility to over 776 drop-off points, quick deliveries between East and West Malaysia, an Integrated Parcel Centre, and more.

To learn more about Pos Malaysia and the services offered,
click here to visit the website
.

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Government Sets Up Special Team To Address Rise In Cost Of Living

(Image: Bernama/Shafiq Hashim)

Prime Minister Datuk Seri Ismail Sabri Yaakob announced that the government has set up a special team to address the issue of rising cost of living among Malaysians. Helmed by several senior ministers, it is dubbed Jihad Tangani Inflasi.

According to the prime minister, the team will be responsible for drafting strategies and coordinating efforts in resolving issues concerning inflation. In doing this, it will also collect relevant information from ministries, agencies, as well as the public.

Datuk Seri Ismail Sabri further said that the special team was formed to effectively and efficiently tackle the challenges of rising costs of living, brought on by climate change and geopolitical uncertainties. Occurrences such as the Russia-Ukraine crisis have affected the market prices of food commodities, as well as fuel, he stated.

(Image: The Star)

“The special team functions the same as the previous team handling the Covid-19 pandemic, where meetings will be held twice a week on Mondays and Thursdays,” Datuk Seri Ismail Sabri also clarified, adding that a press conference will be held after every meeting to explain the various issues raised by the people.

The special team will be chaired by Communications and Multimedia Minister, Tan Sri Annuar Musa. He will also be assisted by the following officials:

Finance Minister, Tengku Datuk Seri Zafrul Tengku Abdul Aziz
Agriculture and Food Industries Minister, Datuk Seri Dr Ronald Kiandee
Domestic Trade and Consumer Affairs Minister, Datuk Seri Alexander Nanta Linggi
Minister in the Prime Minister’s Department (Economy), Datuk Seri Mustapa Mohamed
Chief Secretary to the Government, Tan Sri Mohd Zuki Ali

Ultimately, Datuk Seri Ismail Sabri emphasised that the government is constantly working towards minimising the effects of the global rise in inflation on the Malaysian Family.

(Sources:
The Star
,
Prime Minister’s Office of Malaysia
)

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6 Ways to Shop Smart This Singles’ Day 2018

This month, the world is celebrating the biggest online sale event – Singles’ Day, also known as the 11/11 Global Shopping Festival. Last year, Singles’ Day sales in China alone reached
USD25.3 billion
, beating the sales figures of Black Friday and Cyber Monday combined. Malaysians are no stranger to 11/11 sales as well: in 2017, Malaysians spent more than RM100 million on 11/11 in Lazada alone. 11/11 2018 promises more of the same, but before you go all-out on shopping, here are six ways to shop smart this Singles’ Day.

Take Note Of Singles’ Day Promotions From Different Sources

Before the clock hits 12 midnight on 10 November, there’ll be many people staring intently on their screens, ready to shop
gao gao
. You don’t want to go into the “war” unprepared! Before you shop, you should be aware of the promotions offered by e-commerce platforms and banks. Most of them would offer voucher codes that may apply to the product you wish to buy! Also, be sure to check if the items you are planning to buy will be part of “flash sales” events in the e-commerce platforms. Lazada, Shopee, and 11street regularly hold limited-time promotions for a number of products at discounted prices – and sometimes they display the products in advance. Don’t forget to also stack these savings with a good credit card that offers cashback perks for online shopping!

Stock Up Regularly-Used Products

Consider stocking up on health and beauty products like body wash, shampoo, moisturiser, makeup, perfume, and even vitamins. These products have a long shelf life and are regularly used every day. Buying these items in bulk on 11/11 when the prices are low can save you
a lot
of money, especially if you’re loyal to high-end brands. Just remember to check the stock you currently have so you don’t overdo it and have an oversupply. Most of these products have an expiry date of around three to four years, so do bear that in mind.

Take Advantage Of Free Return Policies

It’s easy to get carried away on 11/11 and be tempted to get a full wardrobe makeover to welcome 2019, but you should try your best to avoid unnecessary purchases. The best way to do this is to look through your wardrobe and do some spring cleaning!

Give away clothes you don’t want any more to make space for new ones. Take note of the clothes that you’re keeping and think of what you can buy to pair with them. But, if your will is weak and the promotions are strong, you can (and should) return some of these impulsive purchases – most fashion-related purchases have free return policies, so do take advantage of this. Not to forget, free returns also mean you can buy different sizes of the same item of clothing just in case you’re not sure of the fit!

Compare Prices Before and During 11/11

Historically, 11/11 is the sale event where most products are at their lowest prices in the entire year. But, that doesn’t mean it applies for all products. It pays to not only have a list of items you want to buy on 11/11, but to also track their prices before 11/11 just so you know if you really are getting these items for a steal.

Here’s where the wishlist feature on most e-commerce platforms will be very helpful. For example, Lazada displays the price of the product on the day you added it to your wishlist, and will also show the current price above it so you can easily see if it is cheaper or not on Singles Day. Remember, just because it is a sale day does not mean the price will automatically will be lower. And if the discount isn’t as low as you’d wish it to be, there’s always the 12/12 sale day to look forward to.

Buy Christmas Presents On 11/11

With Christmas just around the corner, Singles’ Day is a great day to buy your Christmas presents for friends and family. With tens of millions of products on sale, you’re not limited to just a select amount of categories to choose from. On top of that, you’ll be saving a lot of time by shopping online – no more getting stuck in traffic jams and spending half an hour searching for parking spots in shopping malls!

Remember, seasonal items generally get more expensive the closer you are to the actual day. Plus, if the 11/11 deals are not great, you’ll still have another chance on the 12/12 sale!

Spare A Thought For The Environment

Many people don’t realise how online shopping negatively impacts the environment. Plastic wrappers, bubble wrap, cardboard boxes… these are all usually used just the one time, before they are discarded. According to

Xinhua Daily
, Singles’ Day 2017 created 300,000 tonnes of packaging waste (assuming an average of 200 grams of packaging per delivery) in China. Imagine the amount of packaging waste now that this is a global event!

Whenever possible, try to buy products from the same store so they can pack all your orders in a single packaging. Unfortunately, none of the e-commerce sites in Malaysia have a service similar to Amazon, which incentivises consolidated shipping for lower fees and store credit. So the onus would be on us, the consumer to save money responsibly. Instead of throwing those packaging away, consider reusing them, or send them to
recycling places in Malaysia
 like IPC Recycle & Buy Back Centre, Tzu Chi Foundation, Urban R+ Recyle, The Hive, Used Computer, and Battery Man KL.

We hope these tips help you to be more conscious when shopping this Singles’ Day. Let’s be a smart shopper!

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How to Survive a Shopping Ban

The infamous “B” word.

We wrongly assume that our current lifestyles and spending habits cannot be tweaked and are doomed to remain till death do us part. Hence, to some, a shopping ban may not seem to be something worth trying because we are bound to fail.

However, with some practical know-how and determination, we can recalibrate the way we think about this. We are in the business of providing you with the former. Read on!

1. Personalise the Ban

You wouldn’t be imposing this upon yourself unless you personally think it would benefit you. Since everyone operates on unique sets of financial circumstances, the cut-offs and limitations we place upon ourselves should be individualised too.

How long will this ban go on for? Will it be a few months or will it last the entire year? What kind of financial goal are you trying to achieve? Are you doing this to pay off unsettled debt, or for a mid-year holiday?

We establish the time-frame and goals in order to have a clearer understanding of what we are trying to achieve by the end of the ban and motivate you to go on when giving up looks all too good!

2. Take an Inventory

Now, on to the practical bit. Go around your living space and take notes of what you have. Don’t skimp on being specific with listing down what you own. Twenty lipsticks with confusingly similar shades? Document it. Ten different collared white shirts? Write it down.

When we intentionally quantify the things we own, we become aware of what we have (and most of the time, what we don’t need anymore). Seeing what we already have in surplus (i.e. a shelf-full of unread books) will make it easier for us to categorise what items should be included into our shopping ban.

3. Setting up Three Lists

These lists can be called something along these lines:
Needs
,
Non-Needs
 and
Treats
. The
Needs
 are the essentials that keep you going daily (although, don’t try and claim that you “need gourmet coffee beans in order to get through the day”!) These items could be washing detergent, groceries and petrol.

The
Non-Needs
 are the items that will go into your shopping ban. These are the items that are non-essential to get you going every day, yet you purchase anyway. In other words, they are the vices we can try to cut back on. For instance, magazine subscriptions, toys and fashion accessories.

If you think going cold-turkey is too intimidating, this is where the
Treats
 section comes in. This list may be used as a form of delayed gratification and can include the goal of your shopping ban or small rewards along the way.

4. Removing Temptations

To steel your will against impulse buys, you should make an effort to remove things that may tempt you to spend your money unnecessarily. Shop catalogues, subscription e-mail, social media notifications etc, should be filtered or completely removed.
Unroll.Me
 allows you to unsubscribe to any and all newsletters you’re currently receiving in your mail within a few seconds.

After all, the promotions we receive in our mailbox aren’t sales we simply cannot miss out on, but clever marketing tactics to lure us into spending money we wouldn’t have otherwise. Out of sight, out of mind.

5. Counting How Much You’ve Saved

This will not only motivate you, but also hold you accountable to your end-goal. This can be done by setting up a specific savings account or adding to an existing one. You can start by putting in the amount of money you have saved from not giving in to your impulse buys.

Essentially, this article could also be renamed “How to Save Ridiculous Amounts of Money”. If you think your purchases exceed your purchasing power, maybe a living-space detox is needed. Remember, a decrease in money wasted is directly proportional to money that can be saved for a rainy day.

What are your tips to surviving a shopping ban? Let us know in the comments!

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Prepaid Top Up Officially Exempt From SST Starting 6 September 2018

(Image: Aliran)

Prepaid customers will get their full value credit when they top up their prepaid credit, as Finance Minister Lim Guan Eng announced today that all prepaid top ups are exempted from the 6% Sales and Service Tax. This will officially go into effect from tomorrow (6 September 2018).

In a statement released by the Ministry of Finance
, Lim Guan Eng said the purpose of the exemption is to assist telecommunication companies (telcos) who are experiencing difficulties in changing their system immediately. He added that the ministry will announce other measures for telcos so that the government will not suffer any losses while ensuring the customers will get the full value of the prepaid reloads. The Finance Minister added the telcos must take immediate steps to implement the exemption as every one of them are bound by the law.

This puts an end to
the recent confusion regarding the implementation of SST on prepaid top up
. Since 1 September, prepaid customers were charged 6% SST on every prepaid reload, thus reducing the reload value. Despite Guan Eng’s strong comment that there should be no deduction, telcos continued to charge SST for each prepaid reload.

(Source:
Malay Mail
)

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Samsung’s New Tukar Beli Programme Allows Trade-In Of Up To 5 Devices

Samsung Malaysia has rolled out an upgraded version of its Tukar Beli programme, which now allows customers to trade in as many as five devices for a discount on new Samsung products, including the latest
Galaxy Z Flip3 and Fold3
.

The trade-in process remains the same as before – bring in your old devices (smartphones, tablets, and smartwatches) to a participating outlet, and they will be valued on-site. An offer will be made based on the devices’ condition, and if you agree, you just pay the difference from the new Samsung smartphone’s RRP. According to Samsung, this programme will further contribute to the reduction of e-waste.

The Tukar Beli programme has been around since the launch of Samsung Galaxy S10 phone a few years ago. However, what makes this latest round of Tukar Beli programme exciting is the fact that you are allowed to trade in
multiple
 devices for a single transaction. Previous versions of the programme, meanwhile, only allowed the
trade-in of one phone or tablet
 per new device purchased.

Interestingly, Samsung had already debuted this multiple device trade-in programme abroad – such as in the United States – since July 2021, following the announcement of its Galaxy Z third generation phones. However, the company only allowed the trade-in of
two phones
 during this earlier period. The trade-in limit was subsequently
bumped up to four devices
 in August 2021, before Samsung further increased it to five devices this time round.

Aside from Samsung devices, other brands that also qualify for this latest Tukar Beli programme include Apple, Huawei, Oppo, and Vivo. Additionally, there are certain eligibility requirements:

You must be the legal owner of the trade-in device(s).
Your trade-in device(s) must not be tied to any existing contracts with telcos.
For smartphone devices, the mobile must not be network and IMEI blocked, reported as stolen, or counterfeit.
Devices must be unlocked from iCloud and Google account.

Additionally, make sure to remove personal device locks (PIN, passcode, fingerprint, facial) and accounts prior to the trade-in. Note that the multiple devices trade-in programme is currently offered only at Samsung Experience Stores and selected Samsung authorised retailers. Merchants such as Senheng, Harvey Norman, and Urban Republic are not participants in this trade-up programme.

If you’re interested to upgrade to a new Galaxy Flip 3 or Fold 3, the good news is that Samsung offers a higher trade-in value for some devices used to trade up to the Flip 3 or Fold 3. The
Tukar Beli website
 also includes a list of estimated trade-in values for eligible brands and models – just scroll down to the Terms & Conditions tab. Note that the values indicated are just an estimate, the actual value will be offered on site after the valuation on-site.  On top of that, the trade-in prices will be updated on a monthly basis to reflect the fluctuating market value.

(Source:
Samsung
)

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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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Al Rajhi Visa Card-i gets you 25% off the Hilton chain in China

It’s a good time to pay China a visit if you’re an Al Rajhi Visa Card-i holder. That’s because you’ll
enjoy 25% off your when you stay three nights at any hotel among the Hilton chain
 in the country!

Not only that, you’ll be treated to a complimentary room upgrade while you’re there too, subject to availability. The Waldorf Astoria, Conrad, Hilton and Double Tree are among the brand names operated by the prestigious chain in China.

Promotion is only valid until 31 March.

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Citibank Pass To Prizes Campaign Offers Cashback, Year-End Rewards, and Festive Gifts

Citibank has
kicked off two exclusive campaigns
, giving its credit cardholders a chance to enjoy festive gifts, monthly rewards, and the opportunity to win a grand prize of RM150,000 cashback. The two campaigns are running concurrently, with the details as follows:

Spend & Win Campaign
Period: 1 November 2021 – 31 January 2022

Under the Spend & Win Campaign, both new and existing Citibank credit cardholders will have a chance to win daily cashback, monthly prizes, and a grand prize when they spend a specified amount on their Citibank credit cards (local and overseas spend). Specifically, the prizes that you stand to win include:

Daily Prize
: RM 100 cashback (per day)
Monthly Prize
: Samsung Galaxy Z Fold 3, or 24-inch iMac, or Thermomix TM6
Grand Prize
: RM 150,000 cashback

Image:
Citibank

To win the RM100 cashback daily prize, you need to be one of the first 50 customers with the highest accumulated amount spent in a day. Note that auto billing and recurring transactions do not qualify for this sub-campaign. Additionally, each cardholder is only allowed to win one cashback per day, and a maximum of 92 times throughout the whole campaign period. If you do win, the cashback will be credited to you within 12 weeks after the end of each campaign month.

Meanwhile, to win monthly prizes and the RM150,000 grand prize, cardholders will need to spend and earn entries in order to be in the running. The more contest entries you earn, the higher your chance of getting shortlisted as a potential winner. Here are the number of entries that you can earn based on the transactions that you perform:

Image:
Citibank

Upon being shortlisted, the bank will then send you an SMS containing some questions. To win, you will need to answer the questions correctly and as quickly as possible. For monthly prizes, you have a timeframe of eight hours to answer the questions correctly. For the grand prize, on the other hand, you need to answer at least three questions correctly out of the five questions sent within a short five minutes.

Note that the contest entries earned during the first, second and third campaign months are valid only for prizes in each respective campaign month. There are a total of 90 prizes, with 30 prizes for 30 winners each month. Meanwhile, the contest entries that you earn in all three campaign months will be accumulated to put you in the running for the grand prize.

Spend & Get Campaign
Period: 1 November 2021 – 15 February 2022

The Spend & Get Campaign is the second sub-campaign under the Pass To Prizes campaign, and is open to both Citi credit cardholders (new and existing) as well as debit cardholders. You can win festive goodies when you spend RM 500 and more with your cards at participating shopping malls. The campaign is divided into two tiers:

Image:
Citibank

Gift redemption is valid on the same day of purchase as long as the requirements in each participating mall are met. You can only redeem one gift per mall per day and is provided on a first-come first-served basis while stocks last. The list of participating malls are as follows:

Image:
Citibank

(Source:
Citibank
)

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Content writer with a penchant for perfection in her work and can't stand having her name misspelled or mispronounced.

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Grab Introduces New Financial Products Including Loan Services & Micro Investment, Coming Soon To Malaysia

Grab Financial Group (GFG), the fintech arm of Grab, has launched a suite of new financial and wealth management products that will launch in Singapore first before heading to other countries later this year, including Malaysia.

Among the new products to be launched is Grab AutoInvest, a micro-investment solution that is the product of
Grab’s acquisition of Bento
, a Singaporean robo-advisory startup. Grab AutoInvest aims to make investing more convenient by letting users invest small sums of money as they spend on the Grab app. They will be able to earn returns of an estimated 1.8% per annum, which can then be cashed out directly to their GrabPay wallet.

Currently, Grab is planning to launch AutoInvest in Singapore in early September to eligible users. Deposits into AutoInvest are invested into fixed-income funds managed by Fullerton Fund Management and UOB Asset Management, and will have a “low all-inclusive fee”.

Besides that, Grab will also introduce a third-party consumer loan platform, which enables its users to discover personal loans offered by Grab’s bank partners. The new service will also allow them to apply for the loans directly from the Grab app. Grab further said that the platform will be introduced first in Singapore, before expanding to Malaysia and other countries. However, it did not specify a date as to when the platform will be launched.

Aside from consumer loans, Grab is also expanding its “buy-now-pay-later” offerings by introducing PayLater Instalments and PayLater Postpaid on select e-commerce sites in Singapore and Malaysia. Set to launch in October, these features allow users to make their purchases now and pay for it via monthly instalments (PayLater Instalments) or by deferring their payments to the following month (PayLater Postpaid).

In Malaysia, Grab had launched the
pilot PayLater service
 in November 2019, before
suspending it at the end of April 2020
 until further notice (though some users have reported that they still can use PayLater on their accounts). With this announcement, Grab users in the country will very likely see the revival of the PayLater feature soon.

Finally, GFG will also increase its range of insurance options with the expansion of its Ride Cover micro-insurance policy into three new markets (Philippines, Thailand, and Vietnam) by the end of this year. Ride Cover, which offers protection for users while on Grab rides and is charged on a “pay-per-trip” structure, is already available in Singapore, Malaysia, and Indonesia.

There will also be a new insurance product, called Hospital Cash Cover. It is GFG’s first hospitalisation insurance plan for consumers, it will first roll out in Indonesia.

Grab further commented that its suite of new financial services is launched under the “Thrive with Grab” strategy, which seeks to expand its range of offerings to tap into Southeast Asia’s vast mass market financial services opportunity.

“As a leading fintech company is Southeast Asia, our ‘Thrive with Grab’ strategy will enable users to build their wealth, manage their finances and protect what they value during this uncertain period. By offering innovative micro-transaction-based financial services, convenient financial management tools and access to products from leading global financial institutions, we hope to unlock the tremendous potential in financial services in the region in ways that serve all Southeast Asians,” said the senior managing director of Grab Financial Group, Reuben Lai in a
statement
.

(Source:
Grab Singapore
)

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Alex Cheong Pui Yin

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CIMB: Touch ‘n Go eWallet Sees Healthy Volumes For Essential Services And Online Transactions

CIMB Group Holdings Bhd, which owns Touch’n Go Sdn Bhd (TNGSB), has reported a continuation of healthy volumes for essential services and online-based transactions on the Touch ‘n Go eWallet app during the period of movement control order (MCO).

In contrast, the bank has observed a falling demand for retail transactions across the industry, which is also reflected in the app where offline retail merchants are concerned.

Speaking to The Edge Markets, the group ventures and partnerships chief executive officer of CIMB, Effendy Shahul Hamid said that this trend of cashless payment is likely to persist after the end of the Covid-19 pandemic.

“We believe ‘post-Covid’ user behaviour will be positive for us in general, whereby a greater push for cashless payments is expected in order to reduce physical contact. And as such, we are actively adapting our strategies to ensure we are ready for that,” said Effendy.

(Image: FintechNews Malaysia)

Effendy further commented that the market will be a challenging one for the rest of year 2020 where volumes are concerned. However, the bank remains optimistic with regard to the digital payments space as it is nimble enough to pivot and capture relevant opportunities. This is attributed to the solid baseline that the bank has built for its business model.

“We will continue with our plans to enhance features on our platform, with particular focus on in-app journeys, as well as enhancing use cases that include payments, content and digital services. Our plans to introduce financial services also remain on track,” said Effendy, referring to the Touch ‘n Go eWallet app.

CIMB’s latest annual report
 has claimed that the Touch ‘n Go eWallet is now Malaysia’s largest e-wallet with over 6.8 million registered users and 120,000 merchants by the end of 2019. It is rivalled by two other major e-wallet operators, GrabPay and Boost.

(Source:
The Edge Markets
)

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Credit Card Travel Insurance vs Regular Travel Insurance

Nothing beats a good getaway to an exotic beachfront villa complete with pool side bar and Jacuzzi. Unfortunately, while holidays are supposed to be fun and relaxing, there is always the risk that a stroke of bad luck can ruin the festivities at any moment. All it takes is one bad shrimp at the barbecue or one bad slip at the pool and you could be stuck in a hospital bed instead of a hotel bed.

This is where

travel insurance
 steps in to save the day. Purchasing a travel insurance policy before you leave the house can help protect you against the terrors of traveling through a foreign country. However, with the high cost of certain travel insurance premiums, most people might be tempted to turn a blind eye towards purchasing coverage. Unless…you have a credit card that offers free travel insurance.

Regardless of race or religion, all Malaysians love free stuff, it’s one of the few things that binds the entire country together. In that sense, why should anyone bother buying regular travel insurance packages when they can get coverage for free with some credit cards?

Isn’t Credit Card Travel Insurance the same as Regular Travel Insurance?

Unfortunately the answer is “no”. Most travel insurance coverage packages provided by credit cards do have limitations buried deep within the jargon of “fine print”. So don’t let yourself get caught off guard and read on for the differences between credit card and regular travel insurance.

1: Method of Payment

Let’s get one thing straight, credit card companies do not offer you complimentary travel insurance coverage because they like you. They do so because they want you to pay for your booked flight and hotel stay using your credit card so they can earn interest off your late payments.

Hence, if you make payment for your flight and hotel stay using cash or any other form of payment other than your credit card, do not expect your credit card company to honor their gift of free travel insurance coverage.

Regular travel insurance however, does not restrict what form of payment you use. You could pay for your holiday with anything from cash, cheque, credit card or gold. As long as the other party accepts your method of payment and your travel insurance premiums are paid before you go, then you’re automatically covered.

2: Region of Coverage

Just because your
credit card
 is offering you travel insurance as a freebie, it doesn’t necessarily mean that the coverage is offered worldwide. In fact, even in the case of regular travel insurance, very few companies actually offer worldwide travel insurance packages because their pricy premiums are unpopular amongst a majority of travelers. Most of the time, companies will prefer to split coverage into specific regions such as Asia Pacific or Europe etc.

Because of this, most credit card travel insurance packages will only cover you for a specific region. Stray from your beacon of coverage and your claims will be thrown out.

Unfortunately, in the case of credit card free travel insurance, you cannot swap regions whenever your travel destination is not covered within the current region. You are stuck with whatever coverage region they give you whether you like it or not. However, with travel insurance bought directly from an insurer (or agent), you can enjoy the flexibility of just purchasing a different coverage region whenever you want.

3: Length of Coverage

I hit my head while surfing on the 35
th
 day of my vacation only to find out that my coverage is only for 30 days…Am I still Covered?

Some cardholders make the mistake of automatically assuming that their complimentary credit card travel insurance is year-long with no expiry. These are usually the same poor souls who ultimately end up in the situation above.

Always remember that credit card travel insurance only covers you for a set amount of time. So if you push your vacation beyond the time limit of coverage then your accidents will be ignored by the travel insurance company.

However, there is a glimmer of hope as coverage does not have to run consecutively. What this means is that if you have 30-day coverage and you take a 6-day vacation in January, then you will have 24-days of coverage left to use until at least the end of the year.

Regular travel insurance however, does give the insured person the flexibility to start, stop or (more importantly) extend coverage whenever he/she wants.

In Summary

Credit Card Travel Insurance

Regular Travel Insurance from an Insurer (or agent)

Method of Payment

Valid only if Holiday is paid for using Credit Card

Coverage valid as long as Premiums are paid

Region of Coverage

Limited to Region offered by Credit Card Only

Subject to whichever Region you choose when you purchase your coverage

Length of Coverage

Limited to Duration offered by Credit Card (Usually around 30 days)

Subject to whatever Duration you pay for

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Joshua Ong

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Find Amazing Deals At Hi HOME Property Expo x Lazada this 7.7!

In conjunction with the Lazada 7.7 mid-year sales, Hi HOME is collaborating with Lazada to bring you its first ever, online property expo in Southeast Asia this
7 July 2020 to 9 July 2020
. This will be the time when Malaysians will be able to find amazing deals from participating developers such as PR1MA, MRCB Land, and PNB offering discounts up to 30% and more!

Why Now Could Be The Best Time To Purchase A Property

The Covid-19 pandemic has brought about an unfortunate halt globally, and Malaysia is not excluded where it has affected the local economy across various industries. Unsurprisingly, the property and development industry are not spared too.

This has caused developers to be more motivated to sell their properties, offering additional deals to buyers such as extra discounts, free MOT, rebates of up to 15%, 24 months free instalments and more. Furthermore, it was also predicted that
property prices in Malaysia will decline by as much as 20% post Covid-19.

While many Malaysians are inevitably faced with financial challenges during this time, for those who have not been financially affected by the pandemic – this could be the opportunity to purchase the property you’ve been considering for personal stay, or even as personal investment. This is because despite the prediction of decreasing property prices, more recent
news has reported that property prices are increasing, although at a slow pace
 as we go through the Recovery Movement Control Order (RMCO).

So in the future, your property could yield higher value than what you’re paying for now. In addition, with the re-introduction of the Home Ownership Campaign (HOC) as part of the government’s Short-Term Economic Recovery Plan (PENJANA), buyers will also get to enjoy a stamp duty exemption on the instruments of transfer and loan agreements for residential homes priced between RM300,000 to RM2.5 million; with terms and conditions apply.

And this is where Hi HOME Property Expo and Lazada come in, to bring you various properties offering amazing deals in one online platform.

The First Online Property Expo in Southeast Asia

As the first of its kind in Southeast Asia, the Hi HOME Property Expo x Lazada will be showcasing over 2000 property units with discounts up to 30% and prices as low as RM110,000. And just like how you would shop for your essentials online, all you need to do is get on Lazada and browse through the full list of properties offered in the comfort of your home.

The best part? CIMB has also joined the Hi HOME Property Expo x Lazada collaboration by offering buyers a
reduction of monthly instalments by up to 10% for the first 5 years through its FlexiOwn plan.

So check out properties from condominiums, serviced residences, terrace linked homes and townhouses at prime locations by some of the biggest property developers such as PR1MA, MRCB Land, PNB and more this 7.7! To make the expo even more exciting, Hi HOME will be also employing LazLive during the expo to give viewers a full tour of all the properties instead of just looking at photos and promotional videos.

Book Your Dream Home In 5 Easy Steps

Once you’ve taken a good look at the properties on LazLive and have decided on which property to purchase, Hi HOME lets you conveniently book the property online. All you have to do is select the home of your choice, proceed to purchase a voucher priced at either RM88 or RM100.

This voucher acts as your
booking voucher which can also be used to redeem free gifts
 from developers such as savings of up to RM300,000, 24-month free instalments and up to RM30,000 in housing subsidies!

So save the date this 7 July 2020 and start booking your dream home at
Hi HOME Property Expo on Lazada!

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BNM Launches World’s First Transaction-Based Islamic Benchmark Rate, MYOR-i

Bank Negara Malaysia (BNM) has introduced the Malaysia Islamic Overnight Rate (MYOR-i), noted to be the first transaction-based Islamic benchmark rate to be rolled out globally.

According to the central bank said, the new benchmark is expected to drive the development of innovative
shariah
-compliant financial products, which will then expand Malaysia’s Islamic financial market. Market players will also be able to better negotiate and standardise their financial contracts with more transparency, and in turn, price their financial instruments more efficiently.

BNM also said that MYOR-i is developed in accordance with the Principles for Financial Benchmarks, and has been certified to be
shariah
-compliant by the central bank’s Shariah Advisory Council (SAC). “BNM has also collaborated with the Financial Markets Committee (FMC) and the AIBIM-FMAM Islamic Market Technical and Development Committee (IMTDC) on the development of MYOR-i,” the central bank further said.

The central bank further clarified that it will be responsible for calculating and administrating MYOR-i, and that the benchmark will be a volume-weighted average rate of return on
shariah
-compliant unsecured overnight ringgit interbank transactions. This includes BNM’s Islamic overnight monetary operations.

(Image: The Sun Daily)

Furthermore, MYOR-i is currently based on the Commodity Murabahah instrument, but new
shariah
-compliant instruments may be added soon. The rates for any given Kuala Lumpur business day will be published on BNM’s website on the following business day, at 12pm.

Finally, BNM stated that MYOR-i will replace the Kuala Lumpur Islamic Reference Rate (KLIRR) with immediate effect. The KLIRR had been adopted as a reference rate by the Islamic interbank market
since its introduction in 2006
, but its usage was noted to have remained limited.

MYOR-i also has a conventional counterpart in the form of the
Malaysia Overnight Rate (MYOR)
, which was launched back in September 2021. MYOR serves as an alternative reference rate for Malaysia, and exists alongside the Kuala Lumpur Interbank Offered Rate (KLIBOR) to provide the market with the flexibility to choose the rate that best suits their needs.

(Sources:
BNM
,
The Star
)

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Malaysian Overnight Rate (MYOR)

Shariah Advisory Council (SAC)

Transaction-Based Benchmark Rates

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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HSBC Amanah MPower Platinum Credit Card-i Relaunch: New Cashback For E-Wallet Reloads & More

Just three months after
“relaunching” its Visa Platinum credit card
, HSBC is announcing another “relaunch” – this time, for the
HSBC Amanah MPower Platinum Credit Card-i
. The changes take effect from 3 October 2019, and enhances the existing card features – including cashback for e-wallet use with the card.

The new HSBC Amanah MPower Platinum Credit Card-i will also see a refresh to the card face, putting it in line with the existing lineup of HSBC credit cards. More importantly, HSBC is making some interesting changes to the card’s features, though the 8% cashback feature is still conditional with RM2,000 minimum monthly spend with the card.

New Cashback Category: E-Wallet Transactions

HSBC is offering cashback for e-wallet transactions, including wallet reloads, as a new cashback category for this card. Similar to the recent revision to other HSBC cards, cashback is limited to “closed” e-wallets that do not offer withdrawal, including GrabPay and TNG eWallet. FavePay and – oddly – Samsung Pay are also included in this category.

From 3 October 2019 until 31 March 2020, HSBC is offering a promotional rate of 8% cashback for e-wallet transactions, after which it will be revised to 1% (regardless of minimum spend amount). As part of the card’s change, all cashback categories will be capped at RM15 per month.

Revision of Cashback Below RM2,000 Spend Per Month

Currently, cardholders earn 8% cashback on Petrol and Groceries when they spend above RM2,000 a month, and 2% if they spend below that. From 3 October, cashback for Petrol and Groceries for monthly spend below RM2,000 will be revised to 1%, capped at RM15 per month.

Introduction of Cashback Category Cap and Removal of Monthly Cashback Quota

There are a few other notable changes to the existing features. While the minimum spend requirement remains, HSBC is removing the monthly cashback quota (RM600,000) for Petrol and Groceries from 3 October, so everyone will earn cashback without worrying that the monthly allocation has been exhausted.

However, the introduction of a cashback category cap of RM15 per category means the maximum monthly cashback you can earn with this card from the three categories is RM45 (vs RM50 currently). For other spend, the 0.2% cashback remains the same.

Aside from that, HSBC is also removing the petrol brand requirement for cashback eligibility from 3 October onwards. That means cardholders will earn cashback for all petrol transactions regardless of petrol brand, and not tied only to Shell, Petronas, and Caltex (the current requirement).

More Chance of Earning Cashback

The refreshed card face for the HSBC Amanah MPower Platinum Credit Card-i

With the upcoming changes, the
HSBC Amanah MPower Platinum Credit Card-i
 offers cardholders more opportunities to earn cashback. With e-wallet use among Malaysians increasing rapidly, the decision to introduce cashback for e-wallet reloads definitely makes the card more attractive – even if the pool of eligible e-wallets is quite limited.

The new changes makes the HSBC Amanah MPower Platinum Credit Card-i more competitive, especially against the
Citibank Cash Back Card
 and
Hong Leong Wise
, both of which have had their
features revised
 to make them
more competitive
. That said, the minimum spend requirement of RM2,000 is still quite restrictive compared to the Citi and Hong Leong cards, which have a minimum spend of RM500/RM1,500 (Gold/Platinum), and RM500 respectively.

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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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KPDNHEP Seeks Justification From Massimo Bread Maker Over Price Increase

(Image: Facebook)

The Domestic Trade and Consumer Affairs Ministry (KPDNHEP) said that it will reach out to bakery company The Italian Baker Sdn Bhd for a justification for its move in increasing the price of Massimo breads. The price change took effect starting from 1 January 2022.

“We will call up the manufacturer of Massimo as the ministry wants to hear why they have decided to increase their prices and what alternatives they have in store,” said the deputy minister of KPDNHEP, Datuk Rosol Wahid, adding that the price hike will likely burden consumers who are already contending with financial difficulties from Covid-19 and the recent floods.

Effective 1 January 2022, The Italian Baker had decided to increase the prices of various Massimo breads, including its White Sandwich bread from RM2.38 to RM2.80 (400g), and from RM3.35 to RM4.00 (600g). Meanwhile, the price of a Massimo Wheat Germ loaf also increased from RM2.48 to RM3.00 (400g), and RM3.71 to RM4.25 (600g). Other Massimo products that also saw a price hike include the Massimo 100% Whole Wheat bread and the Duetto cream buns.

(Image: AngieYeoh/Shutterstock)

At the end of last year,
Gardenia, too, had increased the price of its breads
, prompting KPDNHEP to reach out to the bakery’s management for explanation as well. Back then, the increase in price involved various crowd favourites, including the Gardenia Original Classic, Gardenia Bran & WheatGerm, Twiggies, Fluffy Buns, and Puazz buns.

“The company [Gardenia] said the price increase was due to the rising costs of raw goods, which is beyond their control. The ministry understands their reasoning and as an alternative, Gardenia Bakeries promised to come up with a new bread product that will be sold at the old price. The producers of Massimo can do the same thing so people have a choice,” Datuk Rosol said.

(Source:
The Star
)

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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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The First Cancer Rider Offering Treatment Allowance & Hospice Care In Malaysia By Takaful IKHLAS

Around the world, Malaysia included, cancer has remained as one of the leading causes of death. Last year, the Health Ministry reported that there was an
11.3% increase in cancer cases
 from the years 2007 – 2011 to 2012 – 2016. In another report in 2020, there were a total of 29, 530 cancer deaths in Malaysia, with breast, lung, and colon cancer topping the list of highest detected cancers.

Moreover, there was also a
14% increase in medical inflation
in 2020, due to several factors such as the ageing population, a utilisation surge for healthcare services, and Malaysians opting for specialists instead of general practitioners.

In the long run, individuals and families who are unfortunately diagnosed with cancer may suffer from harsh financial impacts; spending 30% of their household income on cancer treatments following a cancer diagnosis. For example, cancer surgery can range from RM10,000 (breast cancer) to RM50,000 (stomach cancer).

Enjoy These Benefits With Takaful IKHLAS’  Cancer Rider

With this in mind, Takaful IKHLAS now introduces an essential Cancer Rider to their basic life protection plan, IKHLAS Bersama. It is the first Cancer Rider to offer treatment allowance and hospice care in Malaysia that provides comprehensive cancer coverage from early to advanced cancer stages.

On top of the Accelerated Death Expense of up to RM20,000 with IKHLAS Bersama, the Cancer Rider provides a wide range of coverage from a selection of riders for those aged between 30 days old and 60 years old with up to RM1.5 million for 5 – 85 years cancer coverage.

Treatment Allowance & Hospice Care Inclusive

Cancer treatment costs can be expensive as it depends on a few variables such as cancer type, cancer stage, age, etc. There is no standard definitive treatment for cancer as it involves a combination of treatments. Under the cancer rider,
Treatment Allowance of RM100
 a day will be provided when the person covered goes through chemotherapy, radiotherapy, immunotherapy or surgery related to cancer. The maximum Treatment Allowance payable is RM10,000 for the certificate term.
After cancer treatment, the road to recovery does not end there. For some, continuing treatment at home would be necessary, and taking care of a cancer-stricken loved one can have its own challenges. Therefore,
a total of RM10,000 for Hospice Care Benefit
will be provided in two instalments.

Comprehensive Financial Support For Cancer

By providing  this Cancer Rider, Takaful IKHLAS aims to provide comprehensive financial solutions to cancer patients and their families, especially families with a sole breadwinner. From household expenses to continuing to send their children to school, families can rest assured that these expenses can be covered without risking financial instability.

If the person covered is unfortunately diagnosed with Carcinoma-in-situ, Early Prostate Cancer, Early Thyroid Cancer, Early Urinary Bladder or Early Chronic Lymphocytic Leukemia in the early stages,
30% of the rider sum covered
 will be payable.
If the person coverage is diagnosed with advanced-stage cancer, then
100% of the rider sum covered
 will be payable or the balance of 70% of the rider sum covered will be payable, if there was a claim made within 5 years from the onset of early-stage diagnosis.

***

With both the risk of cancer and healthcare costs on the rise, Takaful IKHLAS’ Cancer Rider is an affordable and comprehensive cancer coverage plan for you and your loved ones. Apart from focusing on cancer recovery, making sure that your family is well-protected in case of the unexpected is one of the top priorities of any breadwinner in the family.

For more information, head to
Takaful IKHLAS’ website
and get covered for cancer today!

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Katrina Balan Quiroz

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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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Getaway from the High Cost of Living with Low Budget Travelling

Times are bad. The papers are filled with
how expensive things have become
 and
how much our ringgit has depreciated in the past months
.

We don’t need to even give you the studies – you are keenly aware of it everytime you flip an item to inspect the price tag. It’s all enough to make most of us long for a vacation where we can forget the bills and cares for just a while.

But there’s the cruel twist: the very problems that burden your mind and make you long for a break are the self-same problems that are preventing you from getting away from it all.

Is a break truly impossible on a budget? We have four tips you could try to help afford a much needed break.

1. Keep it Domestic

The exchange rate is bad. Even a trip to our island neighbours will cost us as much or more than a trip to Australia. Beat exchange rate blues by keeping your holidays domestic.

Budget airlines, coaches, and even trains could get you around the Peninsular and beyond for a budget price. Cost of living outside of bigger cities like JB, KL and Penang can be a lot smaller so you won’t have to splurge for accommodation and food.

Domestic travel isn’t just good for your pocket; it’s also good for the country. Keeping cash circulating within our economy instead of flowing out is a good thing.

And hey, everyone speaks your language.

2. Have a Stay-cation

Can’t afford an outright holiday in an exotic locale? How about a nearby stay-cation? Stay-cations usually mean booking a quiet hotel room within your own city (or a short drive away) to rest and allow hotel staff to pamper you.

All you will need to pay is the price of a room (in your own currency to boot) according to your budget and enjoy the freedom of having no chores, service staff cater to your whims, and lying about all day if you so choose.

Many hotels offer facilities you could take advantage of and pretend you are a tourist in your own city. Take in the sights if free tours are offered or just take a stroll about the city.

The element of packing, going away and being treated to a holiday stay will do wonders for your stress levels.

3. Use up Frequent Flyer Miles

If you’ve been a little hesitant about using credit card travel benefits for fear of appearing a little cheap – now’s the time to throw out the inhibitions!

Check your credit card points or airmiles to see if you could cop freebies or use partial redemptions for cash rebates on your flights and other holiday expenses.

So channel
travel hobbyist Ben Shlappig
, who uses only his credit card benefits like a true frequent flyer fiend to score your dream vacations for less.

A good travel credit card could do just that for you. Find out how with use of our
all-encompassing credit card comparison page
.

4. The Holiday State of Mind

The final tip is simply this: understand your holiday state of mind. What is it that you enjoy most about the holiday experience and seek to recreate that in your own backyard.

1) If it’s the pampering you like; how about heading to a spa nearby and giving yourself a complete time-out for a day?

2) Maybe you like the feel of staying at a hotel away from home. A stay-cation it is!

3) Beach bum? A short day trip to the nearest coastline and a coconut in hand could be the fix.

4) Some people do enjoy art, culture and architecture. You may be surprised how much of that you can explore in your own city, so check out the local tourist sites and information guides to be a tourist in your own country!

The key thing to remember is that more often than not – holidaying is a state of mind more than a place or how much is spent.

In another country you can be completely at ease (because no one will know you to report to family and co-workers!); you are allowed to do whatever you want with no routine; avoid work and chores and have a legitimate reason to do so.

If you are able to find a way to recreate the holiday state of mind on a budget – you’ll be just as rejuvenated at the end of it.

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Diana Chai

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Samsung Galaxy Note 10 Pre-Order Opens Today, Here Are The Best Places To Get It

Samsung Malaysia has officially announced its latest Galaxy Note 10 flagship smartphones, and it’s coming to Malaysia very soon. With pre-order details now available across Samsung’s retail partners, we’ll also be sharing the best places to get one in this article.

But first, let’s talk about the devices. As the latest models in Samsung’s power-user-centric line, the Galaxy Note 10 and Galaxy Note 10+ are packed with features. For the first time, Samsung is introducing a smaller Note model – the Note 10 feels extremely comfortable in the hands, and is roughly the same size as a Galaxy S10…but with the advantage of the S Pen.

Both the Galaxy Note 10 and Note 10+ are powered by Samsung’s brand new Exynos 9825 processor that was just announced yesterday. Memory and storage are in abundance as well for both devices: for the Malaysian market, the Note 10 is equipped with 6GB of RAM (the same as the Note 9) and a massive 256GB built in storage while the Note 10+ packs a huge 12GB of RAM, and is available in 256GB and 512GB storage options – even more than most laptops!

What’s new, Galaxy Note?

From a hardware perspective, this year’s Galaxy Note feels like an iteration of the S10 series. It’s got an Infinity-O display with just a tiny rounded camera cutout for the front camera, giving it a spectacular 94% screen-to-body ratio. This means that despite the larger 6.8-inch screen size of the Note 10+, the overall dimensions are similar to the 6.4-inch Note 9.

For photography enthusiasts, the Galaxy Note 10’s camera will be…familiar, to say the least. There are no notable (sorry) changes here – the rear camera setup is the same as the Galaxy S10+: a triple-sensor setup consisting a 12MP main sensor with dual apertures, a 12MP telephoto sensor for 2x optical zoom, and a 16MP sensor with ultra-wide angle lens. For the Note 10+, there’s an additional DepthVision camera, which has some nifty tricks by tracking depth and creating a 3D model just by scanning an object. Round the front, the selfie camera is a 10MP unit.

For those who have wished for a Galaxy Note experience in a smaller form factor, the Galaxy Note 10 is the answer. It is delightfully compact and is easily usable with one hand – though there are some sacrifices. Compared to the Note 10+, it has a smaller and lower resolution display, less RAM, a smaller battery, and it loses a depth-sensing Time of Flight (ToF) sensor at the back.

There are a number of new S Pen features, including Handwriting to Text, S Pen Air Actions that include useful ways to remotely control the camera app, AR Doodle, and Link to Windows that allows connection and syncing to a Windows PC.

Finally, the Galaxy Note 10 gets a power boost in more ways than one. A new Super Fast Charging feature charges the Note 10 at 45W of power, three times faster than Samsung’s previous Adaptive Fast Charge 15W adapters (but the included charger for the Note 10 is rated at 25W). It also has faster wireless charging capabilities, while Wireless PowerShare lets you recharge other devices using the Note 10.

Samsung Galaxy Note 10 Retail Price In Malaysia

With three variants, Samsung’s Galaxy Note 10 lineup feels congested especially when there are also three distinct models in the Galaxy S10 series (S10e, S10, S10+). Nevertheless, here’s the breakdown in price:

Samsung Galaxy Note 10 (256GB)
: RM3,699

Samsung Galaxy Note 10+ (256GB)
: RM4,199

Samsung Galaxy Note 10+ (512GB): RM4,799
(not available for pre-order, as all 256GB orders are upgraded to 512GB)

Best Samsung Galaxy Note 10 Pre-Order Offers

Samsung is opening pre-orders for the Galaxy Note 10 in Malaysia starting from 5pm, 8 August 2019 (today) until 18 August – or until stocks run out. Now, Samsung streamlines its pre-order promotion across its retail partners, and it is up to these partners to offer more to entice customers. For the Note 10, pre-orders for both variants carry freebies worth at least RM1,000 in value. They include additional warranty and screen crack protection, as well as a cool wireless charging powerbank. For the Note 10, customers also get a free Galaxy Buds wireless earphones, while Note 10+ buyers will receive a storage upgrade from 256GB to the 512GB model.

Pre-order customers have the option to pay a non-refundable RM300 deposit first before paying the rest upon collection, or to pay the full amount during the pre-order period. So, with about a dozen retail partners to choose from, which retail partner gives the best pre-order promotion for the Galaxy Note 10?

Let’s start with the e-commerce giants,
Lazada
 and
Shopee
. Both platforms have official Samsung Stores that offer the devices with the official pre-order promotions.
Lazada offers some form of cashback
 if you use its Wallet, while
Shopee
 currently has a number of promo codes to take RM12 off your purchase if you use specific cards (more on that below).

Meanwhile,
Harvey Norman has a special treat for HSBC cardholders
. All Galaxy Note 10/10+ pre-orders paid using HSBC cards are entitled to 0% interest instalment plans, at up to 36 (in-store) or 24 (online) months, with free delivery on the day of collection. And, the first 200 customers who pay with HSBC cards will also receive a complimentary additional 1 year Product Care warranty, giving the device a total of 3 years warranty.

But the best pre-order promotion seems to be for
Citibank cardholders placing their orders at Senheng/SenQ
. Citibank cardholders who are Senheng’s PlusOne Citi members will automatically receive 2 years extended warranty for the Note 10, while the first 1,100 customers who pay for the pre-order with a Citi card will be eligible for 0% interest instalment plan at up to 36 months
and
 receive a free Galaxy Fit e fitness tracker worth RM139. Plus, with Shopback offering 5.5% cashback for all Senheng transactions for today (8 Aug) only, you’ll be saving an additional RM203.44 to RM230.95 off the retail price.

Protip: Get more savings with the right credit cards

Optimising purchases with the right credit cards can save you quite a bit of money in the long run (via rewards points) or immediate cashback. For example, using HSBC cards at Harvey Norman or Citi cards at Senheng unlocks exclusive offers – on top of the benefits of the cards themselves.

Besides that, some cards can be rewarding on their own. For instance, you will earn RM100 in cashback just for paying for the pre-order with a
Maybank FC Barcelona Visa Signature card
, because this card gives additional cashback in May and August. Meanwhile, the
Standard Chartered Liverpool FC Cashback card
 offers 5% cashback capped at RM50 a month.

Not to forget, cards that offer cashback for online transactions mean you’ll earn additional cashback for your Note 10 pre-order, as long as they are conducted online. Our
best cards for online cashback list
 includes popular options such as
Public Bank Visa Signature
 (6% capped at RM38) and
Quantum Mastercard
 (5% capped at RM30), and the
Standard Chartered JustOne Platinum Mastercard
 (up to 15%, capped at RM30).

If you are planning to shop at Shopee, there are a number of coupon codes that are eligible when you use specific bank credit cards, such as Public Bank (SBFPBB) and Citibank (SBFCITI).

These big-ticket purchases are also great opportunities to rack up rewards points for air miles – which can be very rewarding in the long run.
Maybank 2 Premier’s Amex Reserve
 has the best air miles redemption rate at RM1 for 1 air mile, and is accepted at Senheng/SenQ, Harvey Norman, among others.

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About THE AUTHOR

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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