Bursa Malaysia Introduces New eRights Feature, Available Now On Bursa Anywhere App

Bursa Malaysia has rolled out an update for its Bursa Anywhere mobile app, introducing a new feature called eRights. This new feature allows investors to subscribe for rights issue electronically.

The new eRights feature enables investors to conveniently apply and make payment for rights issues via the Bursa Anywhere app. With this, you will no longer need to go through the
conventional subscription process
, which requires you to post the rights subscription form or hand-deliver it to the listed issuer or share registrar. You can also avoid the hassle of going to a bank to purchase a bank draft or the post office to buy a revenue stamp.

To explain, a rights issue is an offering made by companies to their existing shareholders, allowing these investors to purchase additional shares directly from the company at a discounted price, rather than in the secondary market. The number of additional shares that can be bought typically depend on the number of shares that the investor currently holds.

(Image: The Malaysian Reserve/Arif Kartono)

The chief executive of Bursa Malaysia, Datuk Muhamad Umar Swift said that the new eRights feature will significantly reduce the risk of a Rights Securities application being misplaced or delayed during the postal delivery. “Any refund arising from the excess share applications would be credited directly into the investor’s bank account, instead of having to wait for the refund cheques, which was sent via post previously,” he further explained in a statement.

Datuk Umar also said that this latest feature is timely as the Covid-19 pandemic has brought on a shifting preference for electronic options among investors due to added safety and convenience. “It offers investors tremendous cost and time savings by providing secure access to investment opportunities anytime and anywhere,” he said, adding that Bursa Malaysia is continuously looking for ways to create a mobile-first experience and to meet the demands of modern investors.

In its statement, Bursa Malaysia also emphasised the convenience brought about by the Bursa Anywhere app for its investors. It aims to provide ease of accessibility to its users, allowing them to manage their central depository system (CDS) accounts remotely. Aside from the latest eRights feature, the app also offers services such as the opening of CDS accounts, e-dividend subscriptions, as well as reactivation of dormant and inactive accounts.

Since its launch in 2019, the Bursa Anywhere app has achieved more than 190,000 downloads. If you’re interested in checking it out, you can download the Bursa Anywhere app from
Google Play
 or the
App Store
.

(Sources:
Bursa Malaysia
,
The Edge Markets
)

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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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How Today’s Businesses Can Benefit From Intel® vPro® In 4 Ways

When it comes to managing a business, new challenges and problems can present themselves on a daily basis. In order to accomplish operational success, the business needs to meet certain criteria including efficient time management, dependable employees, reliable partners, and sturdy systems to fall back on. In this digital age, having capable electronic devices can make or break a business.

Meet Intel® vPro® platform – a powerful PC built for businesses to thrive. The platform is created for productivity, hardware-based security features, remote manageability, and PC fleet stability.

Let’s explore how Intel® vPro® can help drive growth in today’s businesses.

1. Elevated Performance

The 10th Gen Intel® Core™ vPro® processors offer an appealing combination of power, performance, and connectivity technologies that can prepare users to handle the most demanding computing workloads. The vPro® processor is the first chip from Intel® that comes integrated with Wi-Fi 6 (Gig+) connectivity, a feature noted for fast download speeds, improved performance across multiple devices, and according to Intel, nearly three times faster than Wi-Fi 5.

Some consider it the best Wi-Fi technology for video conferencing, which could come in handy when remote working makes it necessary for meetings, discussions, and such.

2. Hardware-Enhanced Security Features

As much as performance matters, security is also critical when it comes to business operations. With its built-in runtime basic input-output system boot protection that prevents malware from taking over your PC at startup, and the enhanced threat prevention of Intel® Hardware Shield, the Intel® Core™ vPro® platform provides hardware-based security optimised for business environments. It also incorporates advanced threat detection, which offloads normal security activities to reduce user impact and ensure ongoing productivity.

Users can greatly benefit from malware protection and are assured that the operating system and virtual environments are running directly on the hardware. On top of that, they can also gain visibility into how BIOS is using the hardware.

3. Remote Manageability

With Intel® Active Management Technology (Intel® AMT) and Intel® Endpoint Management Assistant (Intel® EMA), you can enjoy modern manageability for business devices. Intel® AMT enables remote out-of-band management for proactive and reactive system maintenance. Intel® EMA, on the other hand, can remotely and securely manage devices beyond the firewall from the cloud.

This means that whether employees work from home or on a different continent altogether, the platform helps businesses save time and money on deskside support, PC maintenance, and employee downtime as they can be remotely and securely managed over the cloud with minimal interruptions.

4. Platform Stability

To avoid network or software compatibility issues, platform stability across the PC fleet is an absolute must. The Intel® Stable IT Platform Program (Intel® SIPP) helps businesses make easy, predictable transitions when testing devices in their computing environment for performance, compatibility, and compliance.

The Intel® vPro® platform supports complete Platform Validation for additional (post Time To Market) Windows* 10 Enterprise SAC versions, including up to two earlier OS releases (1809).

***

If your business needs a high-performance platform with business-class features, Intel® vPro® offers practical PC fleet stability, simple remote management, and hardware-enhanced built-in security. When equipped with a platform that’s built to serve the most challenging business environments, reaching new heights is not only possible but also more attainable.

Register yourself for the upcoming webinar
here
 to learn more about it.

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Lisa Ameera Azman

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Singapore Mobile Wallet YouTrip Partners Visa To Expand Into Malaysia, Southeast Asia

Singaporean multi-currency mobile wallet YouTrip has announced a six-year partnership with Visa to accelerate its expansion into the rest of the Southeast Asian region. YouTrip is currently available in Singapore and Thailand and plans to begin its expansion with entry into Malaysia and the Philippines.

Leveraging on Visa’s global network of 70 million merchant locations worldwide, YouTrip aims to offer Southeast Asian travellers access to cross border payment solutions such as wholesale exchange rates and no foreign currency transaction fees in over 150 currencies. With regional travel poised to be the first step towards international travel recovery, YouTrip sees an opportunity to solve a unique pain point for Southeast Asian travellers with a year-long pent-up demand for travel and digital cross-border payment.

“Our partnership with Visa will enable our continued growth to drive the next generation of payment innovation of cross border payments,” said Caecilia Chu, Co-Founder and CEO of YouTrip. “We are incredibly excited for the opportunities ahead to serve millions of consumers in Southeast Asia and empower them with the solutions they deserve.”

Matt Wood, Head of Digital Partnerships Asia Pacific at Visa said, “We are excited to work with YouTrip across Southeast Asia to provide consumers and businesses with a multi-currency payment solution that is ideal for international eCommerce and cross-border travel. Together, we look forward to bringing faster, safer and more convenient digital payments to people across the region.”

In a short span of two years, YouTrip has amassed over 1 million downloads in Singapore and Thailand to date. YouTrip is looking to the Malaysian and Philippine markets as massive untapped potential with outbound travel expenditure expected to reach
US$12.4bn and US$12.0bn
 from Malaysia and Philippines respectively in 2021. According to the digital wallet, it is hoping to enter Malaysia and the Philippines in the next 6-12 months.

You can find out more about
YouTrip
 here.

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Maybank Offers EzPay Plus Instalment At 0% Interest Until 31 August

Maybank’s EzyPay Plus instalment feature will be offered at 0%p.a. interest rate/management fee for the current promotional period which lasts until 31 August 2021.

Under this campaign,
Maybank
principal credit cardholders can convert any purchases of between RM1,000 to RM30,000 into 0%p.a. monthly instalments for 12 months. There will be zero interest rate or management fee charges for EzyPay Plus instalments made during the campaign period; outside of this promotion, the normal rate for EzyPay Plus is 9%p.a..

To convert your purchases under EzyPay Plus, all you need to do is log in to your M2U app or the Maybank2u website and apply for EzyPay Plus. Select the transaction that you wish to convert and select the “12 Months – 0% per annum” option. Once you check your details, you are all set and the instalment will be reflected in your account.

Do note that only transactions that have been billed to your credit card account “but not yet posted in the statement forming part of the outstanding current balance due” are eligible for EzyPay Plus. Therefore, you should aim to convert your transactions to EzyPay Plus before your credit card statement is released for that month.

EzyPay Plus is not applicable to the following transactions: cash advance, instalment amounts, annual fees, carry forward balances, card charges, or transactions made by supplementary cardmembers. However, you are allowed to apply for multiple EzyPay Plus plans provided they are within your available credit limit.

Find out more about 0% Instalment with
EzyPay Plus promotion
 here.

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Making a Nomination in Life Insurance Explained

It’s no secret. The sole purpose of buying life insurance is to ensure that your loved ones are protected financially in the event of your death.

In addition to helping support dependents, life insurance can also provide an immediate cash payout upon death. This might be a handy source of cash to pay the deceased’s debts, funeral expenses, and income.

In this piece, we discuss the importance of making a nomination for your life insurance policy and how it works.

What does making a nomination even mean?

In simple terms, making a nomination in your life insurance policy means
 choosing someone to receive or manage
 the money disbursed by the insurance company when you die.

Why should you make a nomination? Well, to save time and hassle.

If you do not make a nomination in your insurance policy your insurance company is not obligated to pay out until your loved ones obtain a Grant of Probate, Letter of Administration or Distribution Order – that might take several years. Making a nomination means these documents are not needed, so the insurance company will disburse payment much faster.

How does it work?

Step 1:
 Fill up the nomination form provided by your insurance company. This usually requires the following details about the person you are nominating (you can choose to nominate whoever you want):

Name

Date of birth

IC or birth certificate number

Address

Step 2:
Get a witness who is at least 18 years old to countersign your nomination form. He or she must be of sound mind and not your nominee.

Step 3:
 The most important step. Ensure that your insurance company endorses the nomination on either the policy document or on the nomination form.

You have the option of making multiple nominations. If you do not specify the portions to be paid to each person, the money disbursed from the policy will be distributed equally.

Do all nominees receive the same benefits?

No, what you get as a nominee depends on your relationship with the policy holder and if you are Muslim or non-Muslim:

1. Trust Policy

If the nominee is your spouse or child, a trust will be created under their name.

They are entitled to the full amount of the policy money. If there is no living spouse or child at the time of nomination and you nominate your parents, then they will be entitled to the full amount of the policy money.

2. Non-Trust policy

This policy applies if the nominee is someone other than your spouse, parents or children.

For example, if your siblings or friends are your nominees, they will only receive the money as an executor and must distribute it according to the will, or if there is no will, then the applicable laws of distribution.

3. Muslim Policy Holder

A different rule applies to Muslim policy owners, regardless of relationship, the nominees can only receive policy money as an executor. The money received will be distributed according to Islamic law.

And that’s it! Anyone who has a life insurance policy should always select a nominee. This ensures that your loved ones are always covered – even when you aren’t around anymore.

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Jom, Yam Cha with AmBank credit cards!

It’s
yam-cha
 time

with AmBank credit cards. Receive up to 20% off ala-carte menu items when you

dine-in at the Coffee House at The Northam Hotel, Penang and Taipan Fins

Chinese Restaurant. To enjoy this offer payment must be made with an AmBank

credit card. Offer excludes alcoholic products and merchandising purchases.

This promotion is valid until 31 December 2013 and is not

applicable with other on-going offers, discounts, promotions and packages.

Please refer to the
Terms

& Conditions
 page for further information.

Find the right AmBank credit card for you on
RinggitPlus.com

and benefit from more AmBank dining privileges.

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BNM To Set Up National Fraud Portal by Mid-2024

(Image: Malay Mail/Yusof Mat Isa)

Bank Negara Malaysia (BNM) has said that it is working on setting up a national fraud portal, where crucial information about the bank accounts and details used by scammers to commit financial crimes will be collected. Expected to be ready by the middle of 2024, the development of the portal will also see the involvement of the financial industry and Payments Network Malaysia Sdn Bhd (PayNet).

“With this database, the banking industry can use technology to detect patterns and connections between the accounts used by scammers. This can help banks stop fraudulent transactions more quickly and assist law enforcement agencies in their investigations,” said the deputy governor of BNM, Datuk Marzunisham Omar, adding that the portal will only be made accessible to banks.

Datuk Marzunisham also said that with the gathering of information about suspicious bank accounts used to receive stolen money, it is hoped that authorities can be more successful in tracing and freezing stolen funds. In turn, this will lead to better protection of victims from losses.

Aside from announcing the development of the national fraud portal, Datuk Marzunisham also highlighted the rise of artificial intelligence (AI)-powered scams. “This is something that we have to guard against, we don’t want to underestimate the scammers as they would use various modus operandi to scam the people,” he said.

(Image: The Star)

Among other things, AI tech can be misused to generate or manipulate visual and audio content of recognised individuals to dupe victims, leading them to believe that an investment scheme is genuine. As such, members of the public must remain extra vigilant and always check for genuine licences before agreeing to any investments.

Datuk Marzunisham further noted that BNM and other agencies have sought to use technology to automate the reporting process of scam incidents for the National Scam Response Centre (NSRC). This, in turn, will simplify the process for Malaysians when they need to lodge a report once they realise that they have been scammed.

Finally, Datuk Marzunisham reminded that victims must call their bank’s 24-hour hotline or the NSRC to report any online financial scams as soon as they can. Immediate action on the part of the victim is important to ensure that the bank can intercept any stolen funds and allow the police to take action swiftly, he said.

(Sources:
Sinar Daily
,
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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ABM Expresses Support For BNM’s Directive For Automatic Moratorium

(Image: New Straits Times/Fariz Iswadi Ismail)

The Association of Banks in Malaysia (ABM) has expressed its agreement with Bank Negara Malaysia’s (BNM) move to introduce a six-month automatic moratorium for individual and SME loan repayments. The directive, which was announced yesterday, was intended to lessen the economic impact caused by the Covid-19 pandemic.

“The measures announced have been designed not only to support customers in this highly unusual global environment, but also to ensure that banks can continue to play their role in sustaining the country’s economy,” said the chairman of ABM, Datuk Abdul Farid Alias. He added that this will give bank customers some breathing space and allow them to focus on other critical aspects of their livelihoods.

The association also acknowledged that the banks are currently working out the full details of the proposals so that the financial assistance can be efficiently executed.

BNM’s directive for banks to offer an
automatic moratorium
 on individual, retail, and SME loan repayments is set to take effect on 1 April 2020, and will last for six months. In other words, you will be able to defer your loan repayments for six months, but note that the
interest will still continue to accrue
 during this moratorium period. The moratorium excludes credit card repayments, which will benefit from a
separate initiative
.

Additionally, other business segments that are not included in BNM’s measures but feel that they are in need of similar financial assistance may contact their respective banks for further discussions. Their cases will be reviewed on an individual basis.

(Source:
Malay Mail
,
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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Higher Mandarin Orange Prices This Year Due To Lower Yield & High Shipping Costs

Prices for mandarin oranges or
lokam
 may be up to 40% higher this year, according to a major local wholesaler.

Sunshine Farlim Shopping Mall, a major Penang retailer, has announced its
lokam
 prices for this year, and they are substantially higher. Its prices for each 4kg crate are RM19.80 (small oranges), RM22.80 (medium), RM26.80 (large) and RM32.80 (extra large). Last year, each 4kg crate retailed for RM12.98 (small), RM14.68 (medium), RM16.98 (large) and RM18.38 (extra large). Overall, this year’s
lokam
 prices are between 34% to 44% higher compared to last year at Sunshine Farlim.

Prices for
lokam
 will likely be higher at other retailers as well. According to Sunshine Wholesale Mart marketing and communication manager Bryan Wong, several factors are behind this considerable hike in prices.

“The prices can further vary for future shipments due to logistical issues and uncertainties brought about by the Covid-19 pandemic. The price hike is also because there is a drop of 15% in the lokam harvest this year, which caused an average price increase of 15% to 20%,” he said.

On top of that, many farms in China did not produce
lokam
 this year due to high risks and costs. Wong added that the global shortage of containers led to higher freight costs – in November 2021, shipping rates were US$2,200 (around RM9,200) per container but current rates are at US$5,900 (RM24,600) per container.

(Source:
The Star
)

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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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Not Every Car Buyer Will Benefit From The Tax Holiday

(Image: The Malaysian Insider)

Overwhelming demand as well as short supply may cause some car buyers hoping to enjoy the tax holiday to end up paying SST. Some car companies are unable to fulfill the demand on time, which will lead to some customers receiving their cars after the implementation of SST.

The
spike in demand for cars
 after the government zero-rated the Goods and Service Tax (GST) on 1 June has caused local car vendors struggling to deliver the cars on time. According to Malaysia Automotive Association president Datuk Aishah Ahmad, local car vendors could not meet the huge demand due to the four-month lead time for vehicle production, rendering them unable to get more stocks in response to the announcement of the zero rated GST in May.

As a result, some customers will be charged with the SST as their vehicles can only be delivered after 1 September. Datuk Aishah Ahmad stated that customers will have to pay a higher amount if their new vehicles are delivered and registered after 1 September.

“If you order your car now, you won’t get it next month. Beyond September, it will come with SST pricing,” MAA manufacturing vice president Roslan Abdullah.

However, a local car distributor is willing to absorb the SST for their customers who receive their cars after the implementation of SST on 1 September. A spokesperson for Bermaz Auto Bhd, the distributor of Mazda cars, said the company will absorb the SST for their customers who make their bookings prior to the implementation of the SST.

“It will not be fair to our customers if we were to pass on the tax to them as they had made their bookings before the SST is introduced,” the spokesperson said.

(Source: The Star (
1
), (
2
))

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Digi Launches Upgraded MyDigi Rewards With New Tiers And Benefits

(Image: Digi)

Digi has officially launched its new and improved MyDigi Reward platform on the MyDigi app. The enhanced platform comes with new features and more deals from over 500 participating merchants and brands.

One of these new features is a membership tiering system: Yellow, Gold, and Platinum. These tiers provide Digi customers with different privileges and benefits based on the amount of accumulated Digi Poins earned during each of the two 6–month cycles: Cycle 1 (1 January – 30 June) and Cycle 2 (1 July to 31 December).

Tiers

Accumulated Digi Points in Each Cycle

Yellow

Up to 299

Gold

300 – 1,499

Platinum

1,500 and above

Customers can earn Digi Points by just paying their prepaid and postpaid bills, where every RM1 spent earns 1 Digi Point. The tiers and the benefits that go with their tiers are as follows:

(Image: Digi)

Customers automatically upgrade tiers if they have collected the required amount of Digi Points and enjoy the benefits until the end of the current cycle and the next cycle. Gold and Platinum customers will also receive an extra perk where they can check out upcoming deals via the Reward Sneak Peek feature.

Another feature that Digi has introduced in the refreshed version of MyDigi Rewards is the Near Me function, which enables customers to locate the nearest deals and rewards around them. This function will be useful as the platform offers Digi customers with thousands of deals and rewards from over 500 participating brands, which can be enjoyed in 7,000 locations nationwide. Additionally, customers can also share the deals and rewards with their friends and family via the platform’s gift function.

(Image: Lowyat.NET)

Alongside MyDigi Rewards, the telco has also introduced the Box of Surprise feature. This feature provides Digi customers personalised discounted internet plans, free internet, exclusive internet passes and phone bundles based on their spending and usage patterns. Similar to Hotlink’s MU deals, these deals are refreshed from time to time based on the customers’ usage behaviour.

The new MyDigi Rewards and the Box of Surprise are available in the latest version of the MyDigi app, which can be download from the
Apple App Store
 and
Google Play Store
.

(Source:
Lowyat.NET
 and
Dig
i)

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When is the Best Time to Book Your Flight?

Almost everyone loves to travel and head out for a nice holiday. The tricky bit is to know when you should book your tickets and plan your trip. Occasionally it can get frustrating when you book a flight, and a week later you notice the price of the ticket or accommodation has dropped below what you paid for.

So should you book your trip early, later or some where in between?

Booking Early

Generally, the rule of thumb basically tells you to buy your tickets as far out as possible to garner the best fares. This generally rings true as airlines usually apportion a limited quota of cheap promotional seats on their flights, aside from peak season flights. Snapping it up before anyone else guarantees you a cheaper seat. The later you book the higher the risk of paying a higher fare as the quota allocated for cheap seats may get bought up.

Another plus point to buying early is that you would be able to pick out a seat of your preference before it starts to get booked up. Especially if you are travelling with a big group or family, it would be much easier to attain seats together should you choose to book early.

Between Early and Late

A flight ticket price is usually determined by the simple factors of supply and demand. Just like hotels, airline tickets follow similar aspects; peak, shoulder, non-peak, low season rates and etc. Should you be travelling during low season to a destination, you could miss out by booking your trip too early.

Sometimes when hotels and airlines find it difficult to fill up the supply when there is next to no demand, they tend to drop prices lower than normal rates to shake things up and spice up demand. That being said, you shouldn’t wait too long as the prices are guaranteed to sky rocket closer to departure or hotel stay.

Booking Late

Booking your ticket late won’t be the ideal scenario if you were looking for something cheap. Lesser seats available on the flight would certainly push the prices up and you would end up paying a premium for these seats.

Sometimes buying a ticket too far ahead makes it difficult to plan for the trip. A lot of things can happen in the future, you may not even be working in the same country by the time the trip dates arrive. You then would have wasted some money on air fare.

The silver lining to the situation is that you would be able to file for a return of the airport tax if you did not end up using the tickets. Do bear in mind that there usually is a fee involved and it may cost you more to file for return than the actual returns.

Where is That Sweet Spot?

Purchasing your tickets early or late largely depends on the seasonality you would like to travel. If you would like to fly back home during Chinese New Year, it would always be recommended to start purchasing your tickets as soon as possible. However, if you are buying during low season for the sake of just getting a cheap flight, you may want to consider holding back a little with the hope of getting a better deal.

No matter what you choose, as long as you are not buying your tickets at the last minute, you will save yourself some money. Only thing is how much can you save by buying at the right time, or better yet, not buying at all because the dates you had originally thought of going for a trip turned out to be your brother’s wedding day.

Whenever you choose to book your holiday, make sure you take full advantage by using a
travel credit card
 that you can apply from our site and also head over to
Agoda
 to make sure you get the best hotel deals for your getaway trip.

When do you prefer to book your trip? Tell us in the comments below.

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Gavin Pereira

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AirAsia Offers Extra CNY Flights With Fixed Fares Between Peninsula & East Malaysia

(Image: Malay Mail/Miera Zulyana)

AirAsia has announced that it will be offering special extra flights from Peninsular Malaysia to East Malaysia with fixed fares of either RM199 and RM249 (one-way flight) for the upcoming Chinese New Year celebration. Seats are available for booking starting from today (28 December 2022), with the travel period being between 17 to 30 January 2023.

In a press release, AirAsia clarified that the fares will be priced as per below:

From
Destination
Flight fare (one-way)
Kuala Lumpur
Kuching, Sibu, Bintulu, and Miri
RM199
Johor Bahru
Kuching, Sibu, and Miri
RM199
Kuala Lumpur
Kota Kinabalu and Tawau
RM249
Johor Bahru
Kota Kinabalu
RM249

A total of 52 special flights at fixed fares have been arranged, offering 25,020 extra seats to the six destinations listed above throughout the week. Note, though, that most of these special flights are late-night or early-morning flights. Here is the full schedule of these additional flights for your reference:

Aside from these special extra seats, AirAsia will also be running its usual weekly flights to the same destinations. However, the fares of these regular flights will be determined based on the usual dynamic pricing mechanism, which means it may increase in accordance to rising demand from travellers closer to the Chinese New Year festive period.

Minister of Transport, Anthony Loke said that AirAsia’s introduction of these additional fixed fare flights is a show of the airline’s support of the government’s efforts to bring down fares during important festive seasons. “While they (AirAsia) are unable to further increase flight frequencies due to the shortage of aircraft which is affecting all airlines, we applaud their hard work to add special extra flights at fixed low fares to reconnect families, especially those travelling to and from Sabah and Sarawak. I encourage other airlines to emulate the same initiative or other initiatives which can reduce the airfares especially during the festive seasons,” he said.

Meanwhile, the chief executive officer of AirAsia Group, Bo Lingam said that the airline is doing its best to cater to Malaysians’ needs. “Despite the rising operational costs and leaner fleet size, we are doing all we can and remain committed to reuniting Malaysians for the upcoming Chinese New Year celebration,” he stated.

(Sources:
AirAsia
,
Malay Mail
)

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Alex Cheong Pui Yin

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

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Kenanga’s KDI Platform Crosses RM100 Million In AUM Within 2 Months After Launch

Kenanga Investment Bank revealed that its AI-driven digital investment management platform, Kenanga Digital Investing (KDI) has crossed RM100 million in asset under management (AUM), with an overwhelming 6,500 successful signups. This achievement came just two months after its launch back in mid-February 2022.

“We are extremely pleased with the response from the public on KDI. Crossing RM100 million in AUM within such a short time is a significant milestone for us. More importantly, the public’s confidence and trust in Kenanga has brought us another step closer in our vision to revolutionise the way Malaysians save and grow their money,” said the group chief digital officer of Kenanga Investment Bank, Ian Lloyd.

Lloyd also stressed that KDI’s goal is to make investment both simple and accessible for Malaysians, and the strong performance recorded thus far is a good indicator that KDI is exactly what the market needs.

KDI is licensed by the Securities Commission Malaysia (SC), seeking to make the investing process more seamless via a less complicated sign-up process and easy-to-understand products that investors can track anytime, anywhere. It has two key features on its platform, namely KDI Save and KDI Invest.

As per its name,
KDI Save
 is a cash management fund that allows users to earn daily returns with no lock-in period and zero management fees. Meanwhile,
KDI Invest
 provides customers with access to global investment opportunities through US-listed exchange traded funds (ETFs) at a competitive fee.

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Win The Apple iPad A13 Bionic Or Get Guaranteed Gifts Like RM800 TNG eWallet Credit

The Unbox This Week credit card campaign is back with amazing gifts you won’t want to miss.

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

For this week (8 – 15 August),  our featured bank partners are

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

Citibank – RM800 TNG eWallet Credit

It’s raining money! Get a guaranteed RM800 TNG eWallet Credit when you apply for a Citibank Credit Card this week. Spend the credit however you wish on items, meals, services, toll, and parking – it’s all yours.

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

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

HSBC Bank – Apple iPad A13 Bionic

Here comes your chance to win the Apple iPad A13 Bionic! Enjoy your video calls with a new ultra wide front camera with centre stage, improved graphics performance, and more.

For those who are not selected, you will walk away with a guaranteed RM600 Shopee e-voucher.

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

Public Bank – JBL Wave 100TWS

Want to be surrounded by music everywhere you go? Enjoy a guaranteed gift of the JBL Wave 100TWS in-ear headphones when you apply and spend with a Public Bank Credit Card.

Look and feel great donning the JBL Wave 100TWS in-ear headphones that are ergonomically-shaped, small, and lightweight, perfect for those always on the move.

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

Standard Chartered Bank – RM200 Shopee e-Voucher or URBANlite Trapez 24’’ Luggage

Standard Chartered continues to give ALL approved applicants a choice of two guaranteed gifts.

Pick the one you prefer – would it be the guaranteed RM200 Shopee e-Voucher for a spot of shopping? Or the URBANlite 8-Wheel Spinner Hard Case Luggage for convenience while travelling on your future trips?

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

Alliance Bank – JBL Live Free NC+ TWS Earbuds or JBL Tune 710BT Headphones

Take home either a guaranteed JBL Live Free NC+ TWS Earbuds or JBL Tune 710BT Headphones when you apply for a new Alliance Bank Credit Card.

The hassle-free JBL Live Free NC+ TWS Earbuds delivers the JBL Signature Sound, ideal for those who like deep powerful sounds. The JBL Live Free NC+ TWS Earbuds is guaranteed to you when you apply for an Alliance Credit Card with Balance Transfer.

Alternatively, opt for the JBL Tune 710BT Headphones that come in a lightweight design and comfortable padded ear cups, when you apply for an Alliance Credit Card.

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

***

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

While this week’s flash deal ends on 15 August (11am), do follow us on our
Facebook page
 to receive the latest Unbox This Week offers as we refresh the deals every week.

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Bank Muamalat And toyyibPay Launch E-Commerce Platform, Bazar.Delivery

Malaysians now have another online avenue where they can get Ramadan refreshments as Bank Muamalat has collaborated with online payment gateway, toyyibPay, to launch Bazar.Delivery. The e-commerce platform is also supported by PayNet via its eFPX payment scheme.

Bazar.Delivery is an online marketplace that brings together merchants, riders, and the public to sell and buy Ramadan delicacies during the ongoing period of movement control order (MCO). It expects to see the onboarding of around 5,000 merchants, and will also provide opportunities for registered delivery riders to earn some income. Currently, the platform is limited only to Kuala Lumpur and Selangor, but there are plans to expand to other areas soon.

To access the services of Bazar.Delivery, consumers can opt to either create an account first or to proceed as a guest. First-time users are also prompted to set their locations before continuing. Once that’s done, you’ll be shown all registered merchants who are available within a 5 to 10km radius of your location. You can then click on the merchants whom you’d like to buy from and make your purchases. You’re also able to put in orders in advance for the next day.

Of course, delivery fees will apply, which appears to start from RM3 onwards. The service also lists two payment options: FPX transfers and debit/credit card, but as of the moment, the latter payment option has not been enabled yet.

“This initiative is part of Bank Muamalat’s contribution to boost the economy and assist the many small and medium enterprises and petty traders – the many ‘Mak Cik Kiahs’ severely impacted during the MCO period. We know that Ramadan bazaars are an important contributor to their livelihood, and we hope that by providing this platform, they will be able to benefit from it,” said the chief executive officer of Bank Muamalat, Khairul Kamaruddin.

(Image: The Star)

The chief executive officer of toyyibPay, Rosli Amir, shared a similar sentiment. “This site will feature a unique assortment of items synonymous with traditional Ramadan bazaars, and enable those observing Ramadan to get their meals for
iftar
 and
sahur
, as well as other festive items,” he also added.

Aside from Bazar.Delivery, you can also get your Ramadan favourites from other online platforms such as
MyEG’s Nak Makan
 and
Grab’s Ramadan initiative
s, such as the Grab e-Kitchen, GrabExpress Ramadan, and Ramadan Favourites. Senior Minister Datuk Seri Ismail Sabri Yaakob had earlier said that all Ramadan bazaars nationwide
would not be allowed
 during the ongoing MCO. However, the Selangor state government decided to
proceed with its e-bazaar proposal
 as it adopts an operational procedure that is similar to restaurants that are currently allowed to operate.

To find out more about the
Bazar.Delivery
 service, head on over to its website.

(Sources:
The Edge Markets
)

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Malaysians Spend 70% Of Monthly Income On Goods, Housing, And Transport

(
Image: Malay Mail
)

Malaysians are spending almost 70% of their monthly income on goods, housing and transport, said Domestic Trade and Consumer Affairs Minister, Datuk Seri Saifuddin Nasution Ismail. A report by the World Bank Group has revealed that the three components also make up a bulk of the cost of living of the average Malaysian.

“In addition, the report states that the lower the people’s income, the more they spend on food, while those with higher income spend more on leisure such as travel or to visit recreational clubs and so on,” said Saifuddin at the launch of the report, titled “Making Ends Meet”. He also noted that the low-income groups are most affected when there is a cost price increase of goods.

Additionally, the report touched on the issue of income stagnation when cost of living rises. Saifuddin responded to this by saying that there are several solutions that his ministry will adopt as the secretariat of the National Cost of Living Action Council (NACCOL).

Saifuddin also revealed that NACCOL is currently looking into reducing the prices of food items and increasing the income of food producers by eliminating layers of middlemen in the food supply chain.

(
Image: World Bank Group
)

“Recently I visited fisherman jetty in Sekinchan and Sungai Besar and spoke to fishermen, the price of Indian mackerel cost only RM5 to RM6 per kg and about 1.5 km away from the jetty at the wet market the price is RM13 per kg,” said Saifuddin, adding that he has given instructions to his secretary general, Datuk Muez Abdul Aziz, to look into the matter.

Saifuddin further reaffirmed their commitment to work with the Ministry of Agriculture and Agro-based Industry to establish a more straightforward supply chain between the suppliers and consumers.

Moving on, the government will continue to carry out other initiatives to help Malaysians with their day-to-day expenditures in the three components highlighted in the report. This includes improving public transportation services, particularly last-mile connectivity, as well as introducing creative schemes to boost and reduce the burden of home ownership.

“
Making Ends Meet
” is part of the Malaysia Economic Monitor series, which provides an analytical perspective on the policy changes facing the country as it grows into a high-income and developed economy.

(Source:
Malay Mail
)

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Public Bank Customers Now Able To Make Cross-Border QR Payments With Indonesia, Thailand

Public Bank has officially enabled its PBe QR service for cross-border transactions between Malaysia with Indonesia and Thailand, allowing its customers to make instant DuitNow QR payments when transacting with merchants from both countries.

Specifically, Public Bank customers who travel to Indonesia or Thailand will now be able to conveniently pay for their purchases from local merchants by scanning their QR code using the PB engage mobile banking app. Similarly, visitors from Indonesia and Thailand will also be able to use their home countries’ banking accounts to perform transactions with Malaysian merchants.

“With the Malaysian government looking to open its international borders by March, the convenience of using Cross Border Payment and DuitNow QR linkage with both Indonesia and Thailand will further encourage economic activities with these nations,” said that managing director and chief executive officer of Public Bank, Tan Sri Tay Ah Lek.

(Image: The Malaysian Reserve)

Tan Sri Tay also said that this initiative marks yet another milestone for the bank, given that it was one of the earliest banks to participate in Malaysia’s
DuitNow QR cross-border payment linkage with Thailand (first phase) back in June 2021
. Public Bank was also part of the
cross-border payment linkage with Indonesia
 that was activated in January 2022.

On top of that, Tan Sri Tay also highlighted that the cross-border QR payment linkage will advance Public Bank’s efforts to provide greater financial inclusion for both businesses and consumers, as part of its environmental, social, and governance (ESG) efforts.

“Businesses of all sizes – including micro, small, and medium enterprises (SMEs and MSMEs) can now accept payments efficiently and securely with cashless payments that are cost effective. This will lower the barrier of doing business for MSMEs as ASEAN borders gradually reopen. Meanwhile, for retail customers, apart from having a more convenient and safer option to make payment, they will also enjoy better foreign exchange rates,” said Tan Sri Tay, adding that the linkage will serve as a win-win solution for all parties.

(Image: The Edge Markets)

Public Bank further said that it is waiving the transaction fees for both retail customers and its PBe QR merchants – including for cross-border QR payments to and from Indonesia and Thailand – from now until 31 December 2022.

Aside from the these QR payment linkage with Thailand and Indonesia, Malaysia is currently also working to create payment linkages with
Singapore
and
the euro area
. The linkage with Singapore is slated to begin in the fourth quarter of 2022, whereas the linkage with the euro area is in the proof-of-concept stage.

(Source:
Public Bank
)

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A Credit Card offering 10% Cash Back Rebates? Welcome to the new Hong Leong Wise Credit Card!

Hong Leong stormed the cash back rebate credit card segment today with their
Wise Credit Card
. This card is offering 10% cash back rebates on any two of the following categories. To sweeten the deal even more Hong Leong are throwing in the “Mobile” category as a bonus.

No.

Categories

Merchants / Merchant Category Code (MCC)

1

Mobile (Bonus)

Maxis, Celcom, DiGi, U Mobile and YES

2

Pharmacies

Watsons, Caring and Eu Yan Sang outlets

3

Groceries

All grocery stores (MCC 5411)

4

Petrol

All petrol stations (MCC 5542)

5

Dining

All dining outlets (MCC 5811, 5812, 5814)

6

Department Stores

Parkson, AEON, Isetan, Metrojaya, Robinsons, Tangs, GAMA and Sogo outlets

7

Book Stores

MPH, Popular, Borders, Kinokuniya, Times, Smart and BookXcess stores

8

Utilities

Electricity and Water (MCC 4900)

9

Entertainment

All cinemas (MCC 7832), Ticket Charge, Ticketpro, Red Box and Neway

10

Travel

All airlines (MCC 3000-3299, 4511), hotels (MCC 3501-3999, 7011), tour packages (MCC 4722, 4723)

Hong Leong has even capped the cash back rebate at RM100, which is double the amount most cash back credit cards are currently offering.

As usual there are a few T&Cs which you need to be aware of:

Firstly, in order to qualify for the 10% rebate you need to make 10 retail transactions every month, each one with a minimum value of RM50.

Secondly, while you are allowed to switch your cash back rebate categories there is a RM10 charge for every switch you make.

If the whole thing still seems a bit confusing then check out this info-graphic from Hong Leong which shows how it works:

  Figure 1: RinggitPlus.com Hong Leong Wise Credit Card How It Works Info-graphic

The RinggitPlus team are really excited to see the banks giving more back to consumers so we owe Hong Leong a big thank you for this new credit card.

Following their great “Points for Cash” promotion (
which we recently reviewed
), it is clear that Hong Leong is making a strong start to 2013. Check back later this week to see exactly how the Wise credit card compares to other cash back rebate credit cards.

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BNM Holds Online Auction Of Malaysian Banknotes With Special Serial Numbers

Bank Negara Malaysia (BNM) is currently holding an online auction for ringgit banknotes with special serial numbers. Conducted by the central bank’s appointed auctioneer, MNP Auctioneers (Central) Sdn Bhd, this is the fifteenth auction to be held for the fourth series of Malaysian banknotes with special serial numbers.

According to MNP, the auction will allow interested individuals to bid for ringgit banknotes with special serial numbers such as:

Special serial number
Details
Single ladder
Banknotes with ascending serial numbers having different prefix (e.g. EG1234567). Also encompasses:
– super single ladder bank notes (e.g. FF1234567)
– reverse single ladder (EG7654321)
– super reverse single ladder (FF7654321)
Low numbers
– Banknotes bearing the first ten digits (e.g. AB0000001 to AB0000010) and auctioned as a single note
– Also encompasses super low number (banknotes bearing first ten digits with same prefix, e.g. BB 0000001 to BB0000010)
Solid
– Banknotes bearing all same numbers with different prefix (e.g. AD8888888)
– Also encompasses super solid (banknotes with same numbers and prefix, e.g. CC8888888)
Ten million
– Banknotes with eight digits serial numbers (e.g. AA10000000)
– Highest value among collectors for its uniqueness

Meanwhile, denominations that you can bid for during this auction range from RM1, all the way to RM100.

The live bidding for most banknotes is already in progress, with bid prices starting from RM100 onwards. Meanwhile, the live auction is set to begin on 24 September 2022 (Saturday) at 11am.

If you are interested to bid, you will need to first register for an account with the auction platform, best2bid. You’ll also need to sign up for
the auction here
. Once done, you can then go ahead and
begin bidding online
.

If you have enquiries regarding the auction, you can contact MNP’s customer service hotline at 017-400 6661. Alternatively, you can visit
MNP’s website here
. You can also check the
e-catalogue
 for more details about the banknotes with special serial numbers that are being auctioned off.

(Sources:
MNP
,
best2bid
,
The Edge Markets
)

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ABM: Banks To Continue Providing Aid For Affected Borrowers During FMCO

(Image: The Malaysian Reserve)

The Association of Banks in Malaysia (ABM) has reassured borrowers that its member banks will continue to offer financial assistance to those who are affected by the ongoing total lockdown (FMCO).

In a statement, ABM acknowledged the concerns of borrowers and businesses that will be affected by the temporary halt to their activities in light of recent developments. “ABM would like to assure the public that its member banks, which comprise the conventional commercial banks, will continue to make available financial assistance to all affected borrowers who are in need of such assistance,” it said.

ABM also highlighted that its member banks have been providing financial assistance to borrowers since 1 October 2020 through the targeted repayment assistance (TRA) programme that was put in place. Following Prime Minister Tan Sri Muhyiddin’s recent announcement of the
PEMERKASA+ stimulus package
, however, the TRA programme will see some updates.

To begin, individual customers who have lost their employment are eligible for either of the following assistance under the PEMERKASA+ stimulus package:

Loan deferment (moratorium) for 3 months
50% reduction in monthly instalment payments for 6 months

Additionally, those who suffer from a reduction in income (including household income) will be eligible too. B40 borrowers registered under the Bantuan Sara Hidup (BSH)/Bantuan Prihatin Rakyat (BPR) programme and microenterprises with loan facilities not exceeding RM150,000 are also eligible for this specific repayment assistance.

On top of these, ABM said that the TRA programme has now also been expanded to include all small and medium businesses (SMEs) that are not permitted to operate during the FMCO.

“All affected borrowers (individuals, microenterprises and SMEs) who wish to avail of this latest TRA only need to contact their respective banks to indicate which option they want to choose. The banks will automatically approve all selections by borrowers that fulfil the criteria stated above,” said ABM. Meanwhile, all other affected borrowers not eligible for the latest TRA programme can tap into customised rescheduling and restructuring schemes instead.

ABM further stated that its member banks are committed to making it convenient for borrowers to apply for the assistance package that they need. As such, they have simplified the process. “In most cases, borrowers should be able to make the selection online or over the phone. Borrowers may also do so at bank branches, but are advised to check on their respective banks’ websites for information on any changes in operating hours or arrangements for over-the-counter services in view of the continuing restrictions owing to the pandemic,” it said, adding that borrowers can visit
ABM’s website
 for information as well.

ABM also took the opportunity to remind borrowers that their central credit reference information system (CCRIS) records will not be affected by the TRA programme received this year, which means that their future credit profile will not be impacted. As such, all impacted borrowers are urged to reach out to their respective banks to discuss the best options that are available to them.

Aside from that, ABM highlighted the availability of the
Counselling and Debt Management Agency (AKPK)
 to assist both individual borrowers and microenterprises in need of help, including offering advice, guidance, and options for debt restructuring. In particular, microenterprises can seek for aid through KPK’s dedicated micro business helpdesk, which offers free financial advice and facilitates applications for repayment assistance.

Finally, ABM noted that as of 26 March 2021, banks have received 1.6 million applications for the TRA programme, with a 95% rate of approval.

(Sources:
ABM
,
The Star
)

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

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Hong Leong Bid Or Win Campaign Offers 600 Exclusive Prizes, Including Switzerland Trip

Hong Leong Bank (HLB) is currently running its Bid It, Win It! campaign, which offers 600 prizes to be won by the bank’s Visa credit cardholders, including exclusive items such as iPhone 14 Pro, vacation trips, hotel stays, and cashback rewards.

Open to all new and existing HLB Visa credit cardholders, this campaign is given a unique spin as you’re allowed to choose whether you would like bid, or join an entry contest to be in the running for selected prizes. Before you can decide on that, however, you will first need to earn bid points by using your Visa credit card to spend on qualifying transactions from any of the following tiers:

Qualifying transactions
Qualifying amount
Bid points to be awarded
Cap on bid points that can be earned
Purchases at any merchants in local currency (except for other transactions listed in the other tiers below)
Every RM50 in a single transaction
1 bid point
– 500 points in a single transaction
– 500 points from the same merchant in a campaign month
– Payments made via Google Pay
– Purchases made with easy payment plans
– Payments made to insurance or utilities merchants
– Purchases made in foreign currency
Every RM50 in a single transaction
5 bid points
– 500 points in a single transaction
– 500 points from the same merchant in a campaign month
Successful application of quick cash or balance transfer
Every RM500 of approved amount
5 bid points
– 500 points
Weekend lunch and dinner spend
– Lunch: 12pm to 2.59pm
– Dinner: 7pm to 11:59pm
Every RM50 in a single transaction
10 bid points
– 500 points in a single transaction
– 500 points from the same merchant in a campaign month
Weekend spend (Saturday and Sunday)

– Dining
– Retail shopping
– Electronics
– Furniture
– Departmental Stores
– Dining
– Petrol
– Groceries
– Pharmacy
Every RM50 in a single transaction
10 bid points
– 500 points in a single transaction
– 500 points from the same merchant in a campaign month
Transactions on selected merchant categories during selected events by HLB (announced at least 48 hours before commencement)
Every RM50 in a single transaction
20 bid points
 N/A

In the event that a qualifying transaction is eligible to earn bid points from two or more tiers, note that you will only receive points for the tier that gives you the highest amount of bid points. All bid points earned will be awarded to you according to the following schedule:

Campaign months
Qualifying transaction date
Bid points to be credited by
1
9 Dec – 31 Dec 2022
Before or on 12 Jan 2023
2
1 – 15 Jan 2023
16 – 31 Jan 2023
Before or on 30 Jan 2023
Before or on 15 Feb 2023
3
1 – 15 Feb 2023
16 Feb – 8 Mar 2023
Before or on 28 Feb 2023
Before or on 20 Mar 2023

Along with these bid points, you’ll also receive an SMS or email notification that contains your login details to a campaign account on the
HLB Bid It, Win It! website
, the URL link to the website, and your total bid points thus far.

As you collect these bid points during the campaign period, the actual fun takes place between
13 January to 31 March 2023
 – when you can start utilising your bid points to win prizes! As we’ve said earlier, you can opt to do either of the following:

Use your bid points to bid for an item in the “Bid It” section, or

Convert your bid points to contest entries in the “Win It” section to be in the running to win a preferred prize (1 bid point = 1 contest entry)

All the details of the bidding prizes and contest prizes will be published on the campaign website, with new prizes to be unveiled on a daily basis. Again, remember to take note of the various terms and conditions that come with your participation in the “Bid It” or “Win It” section:

Sections
Terms and conditions
“Bid It” section
– Prizes will be available to for bidding for up to five days.
– Cardholders can only raise the recent bid amount by between 1 to 10 bid points.
– Cardholders is only allowed to place a bid if he/she does not have a recent bid on two other bidding prizes.
– Each cardholder is only allowed to win up to three bidding prizes throughout campaign period.
– Cardholders who do not win their preferred prizes will regain their bid points after the bid closes.
“Win It” section
– Contest entries for each contest prize must be submitted before the closing date indicated on the website (multiple submissions allowed).
– Cardholders are required to answer a question from HLB during the submission process.
– Winners of each contest prize will be selected via a randomiser programme after that.
– Winners will be announced within 60 days from the end of the campaign period.

If you win any prizes through this campaign, HLB will contact you regarding the fulfilment details within 100 days after the end of the campaign period. These details will be sent to you either via email or SMS.

Finally, note that no registration is required to participate in HLB’s Bid It, Win It! campaign. All eligible credit cardholders will be automatically enrolled to earn bid points if they are eligible for it. Already ongoing, the campaign is set to run until 31 March 2023.

(Source:
Hong Leong Bank
)

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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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BNM Holds OPR Steady At 1.75% In First MPC Meeting Of 2022

Bank Negara Malaysia (BNM) has announced that it will continue to hold the overnight policy rate (OPR) steady at 1.75%. This is the eighth meeting in which the Monetary Policy Committee (MPC) has decided to maintain the OPR at its current rate since the last adjustment was made in July 2020.

In a statement, the MPC said that the current stance of monetary policy is both appropriate and accommodative. “Fiscal and financial measures will continue to cushion the economic impact on businesses and households, and provide support to economic activity. The stance of monetary policy will continue to be determined by new data and their implication on the overall outlook for inflation and domestic growth,” it said.

The central bank also commented that in 2022, growth is expected to gain further momentum, driven by the expansion of demand and higher private sector expenditure. Improvements to the labour market and continued policy support will also contribute to the growth, it said.

“Risks to the growth outlook, however, remain tilted to the downside. Such risks may arise from a weaker-than-expected global growth, a worsening in supply chain disruptions, and the emergence of severe and vaccine-resistant Covid-19 variants of concern,” BNM cautioned.

Additionally, the central bank shared that the average headline inflation between January to November 2021 had been recorded at 2.3%. For 2022, it is forecasted to remain moderate, especially as the base effect from fuel inflation lessens.

Meanwhile, underlying inflation will likely grow as businesses begin operating again with high input costs. “Nevertheless, core inflation is expected to be modest, with upside risk contained by the continued slack in the economy and labour market,” BNM further said, adding that the outlook will also be affected by global commodity price developments amid risks from prolonged supply-related disruptions.

Back in 2020, BNM had slashed the OPR by a total of four times to bring it to the current low of 1.75%. The central bank first reduced the rate from
3.0% to 2.75% in January 2020
, then to
2.50% in March
. Following that, BNM again slashed the OPR by
50 basis point in May
, and finally, by another
25 basis points in July
.

(Source:
BNM
)

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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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Apple Prizes Galore With Apple Watch Series 7, iPad Air, & More

Win exciting gifts in Unbox This Week credit card campaign this week!

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

For this week (13 June – 20 June), our featured bank partners are

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

Citibank – Apple Watch Series 7

Trying to reach all the health goals you’ve set for this year? The Apple Watch could be just what you need and you can win one when you apply for a Citibank Credit Card!

To optimise your performance, the Apple Watch Series 7 features an always-on retina display and brighter views on more screen area. It also comes with a wide set of functions that track and share your activities, keep you motivated, let you take an ECG test, and more. So, hurry and apply now to get a chance to win one out of 10 units of Apple Watches we’re giving away.

There’s no need to fret if you’ve not been chosen as you will still walk away with a pair of Apple AirPods, guaranteed to you.

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

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

HSBC – Apple iPad Air

You’ve been looking for a device that fits perfectly on your palms as you read, play games, work on your creative projects, or even connect with loved ones. Now, you may win one when you apply for a credit card with HSBC!

The new iPad Air is light and easy to hold as you immerse yourself in graphics-intensive games or dabble in advanced technologies like True Tone and P3 wide colour when working on your projects.

If you’re not selected to win one out of 10 units we’re giving away, you’re still guaranteed a pair of Apple AirPods.

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

Standard Chartered Bank – PerySmith Air Fryer or URBANlite Luggage

Standard Chartered is giving ALL approved applicants a guaranteed gift and you’ve got the power to choose your gift! If you’re hoping to make kitchen duty a more fun time, get the PerySmith 4.2L Air Fryer that whips up various dishes easily.

Otherwise, take home the URBANlite Trapez 24’’ 8-Wheel Spinner Hard Case Luggage to keep your belongings in on your next holiday!

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

Alliance Bank – RM200 Shopee E-Voucher or URBANlite Luggage

There’s a guaranteed gift for everyone when you apply for a new Alliance Bank Credit Card! Choose an RM200 Shopee e-voucher and check out your wishlist item sitting in your cart.

Or opt for the URBANlite Edge 20″ Expandable 8-Wheel Spinner Hard Case Luggage that is both stylish and functional.

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

AmBank – Morgan Air Fryer

Making your favourite dishes has never been easier with the Morgan Air Fryer! Get this guaranteed gift when you apply for an AmBank Credit Card.

With an air fryer being so easy to use, you can try out fun recipes that you never thought of to make and expand your menu at home.

Apply, get approved and activate your Ambank credit card within 30 days upon approval to be eligible for this prize. Existing cardholders and individuals who have held or cancelled an Ambank credit card in the past year are not eligible for this campaign.
Apply for an Ambank Credit Card here
.

***

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

While this week’s flash deal ends on 20 June (11am), do follow us on our
Facebook page
 to receive the latest Unbox This Week offers as we refresh the deals every week.

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9 Ramadan Buffet in 2018 For RM60 or Less

As we enter the holy month of Ramadan, it goes without saying that regardless of race, age, gender or cultural belief you may have, the return of the popular Ramadan buffet is something that everyone looks forward to.

While there are definitely plenty of drool-worthy places across the Klang Valley that would definitely satisfy that rendang craving, there are few genuinely good places that offer Ramadan buffets at an affordable budget. We’ve curated this list with that in mind, so here are 8 Ramadan buffet places in the Klang Valley that are not only budget-friendly, but also strategically located near
suraus
 and mosques so that you won’t need to worry about rushing to perform your tarawih prayers.

Laman Qasrina

 Photo courtesy of Laman Qasrina

Popular among the folks staying in Shah Alam and areas within the vicinity, Laman Qasrina is running a ‘Buy 10 Free 1’ offer for its Ramadan buffet. Considering that the buffet also includes grilled lamb, nasi briyani, and even live performances, this is a value for money deal that you won’t want to miss.

Availability: 18 May 2018 – 10 June 2018

Price: RM33 (Buy 10 Free 1)

Location: Jalan Zuhal 178/U5,40150 Shah Alam, Selangor

Reservations: 012 2751548/ 017 310 3866

Prayer Room Available: Yes

Nearest Surau/Mosque: Tengku Ampuan Jemaah Mosque, Persiaran Gerbang Utama, Bukit Jelutong, Shah Alam, Selangor

Website:
 Laman Qasrina

Saba Restaurant

Most Ramadan buffets are usually crowded and noisy affairs, with plenty of people moving about the buffet tables. Saba Restaurant aims for a different feel, with a comfortable ambiance mixed with great Arabic food. Satiate your cravings for Arabic food such as Fattoush, Mandi Chicken, Musaqah, and more; just make sure you keep some space for the famous Baklava.

Availability: 22 May 2018 – 17 June 2018

Price: RM29.90

Location: 4800 Suite 0-2, Ground Floor, Block A1, Jln Perdana, CBD Perdana, Cyberjaya

Reservations: 03-8320 2544

Prayer Room: Yes

Nearest Surau/Mosque: Raja Haji Fisabilillah Mosque

Website:
 Saba Restaurant

Cafe D’Istana Jalamas Istana Budaya

Istana Budaya’s in-house café is actually very famous for its Ramadan buffet spread, and regularly sells out throughout Ramadan. Cafe D’Istana offers an extensive selection of delectable kampung-style cuisine that’s simply irresistible.

Availability: 17 May 2018 – 17 June 2018

Price: RM42.90

Location: Jalan Tun Razak Istana Budaya, 50694 Kuala Lumpur

Reservations: +6016-6777402 (Azhar) / +6019-9118518 (Putra) /+6011-31232342 (Ina)

Nearest Surau/Mosque: Istana Budaya Surau

Website:
 Cafe D’Istana Jalamas Istana Budaya

Skohns Canteen

 Photo courtesy of Skohns Canteen

Dessert may be the forte of Skohns Canteen but that doesn’t mean that its other offerings are not up to par. Apart from the usual suspects like grilled lamb and Malay-styled cuisine, a pasta station and traditional desserts makes this outlet worth visiting even though it’s tucked in an unexpected section of Damansara Perdana.

Availability: 17 May 2018 – 15 June 2018

Price: RM50.00

Location: Lot G-13, Perdana The Place, Jalan PJU 8/5G, Damansara Perdana, Petaling Jaya, Selangor

Reservations: 03-7732 4116

Nearest Surau/Mosque: Surau Damansara Perdana

Website:
 Skohns Canteen

Buffet Ramadan IDCC Shah Alam

 Photo courtesy of IDCC Shah Alam

Operating as caterers for wedding goers and convention attendees during non-Ramadan months, the people behind Wedding Studio are well versed when it comes to feeding large crowds. Perhaps the most unique aspect of this Ramadan buffet would be the fact that you can opt to tapau (take away) the buffet food as IDCC has a zero-food wastage policy

Availability: 17 May 2018 – 17 June 2018

Price: RM60.00

Location: Ideal Convention Centre Shah Alam IDCC Mall, Jalan Pahat L 15/L, Seksyen 15, 40000 Shah Alam, Selangor

Reservations: Habibah 012-4978827 / Adam 012-4292806 / Zuria 012-2844827

Nearest Surau/Mosque: IDCC Surau

Website:
 Buffet Ramadan IDCC Shah Alam

<a href=”
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Deria Steamboat N Grill

 Photo courtesy of Deria Steamboat N Grill

Can’t decide between having wholesome steamboat or hearty grilled meat for iftar? Deria Steamboat N Grill offers both. And if you need more reasons to come on over, bear in mind that apart from the usual Chicken or Tomyam soup base, Deria’s house specialty broth is the almighty Malaccan Assam Pedas – definitely a unique flavor for steamboats. So, if you know anyone who is a fan of all things spicy and sour, here is a place that you can take them to.

Availability: 17 May 2018 – 15 June 2018

Price: RM30

Location: Jalan Bazar U8/100, Shah Alam, Selangor

Reservations: 0173037211 / 0123502863

Nearest Surau/Mosque: Tengku Ampuan Jemaah Mosque, Persiaran Gerbang Utama, Bukit Jelutong, Shah Alam, Selangor

Website:
 Deria Steamboat N Grill

De Ja Vu Restaurant

 Photo courtesy of De Ja Vu Restaurant

Middle Eastern food usually comes across as costly and limited in terms of taste and offerings, but De Ja Vu Restaurant shows that you can have salad, appetizers, soup, mains, and desserts in a large buffet spread, all for a surprisingly low price of RM28+.

Availability: 17 May 2018 – 17 June 2018

Price: RM28+

Location: Dataran Jelatek, Malaysia, Jalan Jelatek, 54100 Kuala Lumpur

Reservations: 03-4253 2101

Nearest Surau/Mosque: Masjid Muadz Bin Jabal, Persiaran Setiawangsa, Taman Setiawangsa, 54200 Kuala Lumpur

Website:
 De Ja Vu Restaurant

Mozers

 Photo courtesy of Mozers

If you’ve always wanted to try authentic Syrian cuisine but not sure where’s a good place to head to, Mozers is a definite must-visit on your list. From crowd favourites such as Lamb Kabsah to the unique Warak Arish (Stuffed Grape Leaves), there’s something for everyone. Best of all, it costs only RM55 per person at their Bukit Jelutong outlet.

Availability: 17 May 2018 – 13 June 2018

Price: RM55 Nett

Location: 12G, D’Bayu Business Centre, 40160, Jalan Serambi U8/21, Bukit Jelutong, 40150 Shah Alam, Selangor

Reservations: 017-250 1633

Nearest Surau/Mosque: Tengku Ampuan Jemaah Mosque, Persiaran Gerbang Utama, Bukit Jelutong, Shah Alam, Selangor

Website:
Mozers

IKEA Special Buffet

Yes, IKEA’s in-house restaurant also has its own Ramadan buffet! Be very excited, because we’re positive that the main reason one would drop by for the IKEA Ramadan buffet revolves around the fact that you will get to feast on an unlimited supply of IKEA meatballs. And if that’s not enough, you’ll get to savour a selection of rice, chicken and beef dishes which will be rotated daily, plus the usual drinks and desserts. IKEA FAMILY members will also receive a RM10 IKEA shopping voucher.

Availability: Limited dates. May 21 – 24, May 28 – 31, June 4-7, June 11-13

Price: RM35

Location: All IKEA outlets (Cheras, Damansara, Tebrau)

Reservations: No reservations, only walk ins.

Nearest Surau/Mosque: In-house IKEA surau

Website:
 IKEA

Who knew there would be so many budget-friendly Ramadan buffet places around the Klang Valley? What’s more, the list covers a variety of cuisines, so there’s definitely something for everyone to get you into the Hari Raya spirit.

We hope that you have found this Ramadan buffet guide useful for your buka puasa planning! One last word of advice: it is advisable for you to make a reservation first before you head to any of these buffet-serving establishments, as seats can be limited.

And, if you are planning to bring a large group to any of these places, you may want to consider asking for early bird or corporate discounts to get even more value. For easier access to dining discounts, a rewards credit card may be something that you want to look into. Just check out our
 comparison tool
 and find one that suits your spending style best.

Do you have any other wallet-friendly buffet places that you would like to add to the list? Let us know in the comment section below!

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MBF Cards credit cards’ 0% interest EasyPay plan on overseas spend

Good news for MBF Cards credit card holders travelling abroad! You can now
convert your overseas purchases into an interest-free 6 months repayment plan
.

All you have to do is spend RM1,000 and above on a single or multiple transactions while out of the country, then call the bank at least five days before your payment due date.

As long as you meet the minimum spending requirements, you can sign up for the plan as many times as you’d like.

Here are the EasyPay payment plan’s
T&Cs
,
FAQs
 and
product disclosure sheet
.

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How TNB Smart Meter Can Help Keep Your Household Budget in Check

Tenaga Nasional Berhad (TNB) has recently announced that its goal to equip 1.5 million homes with Smart Meter by the end of 2021 is well on track. Earlier in the year, TNB reached its 1 millionth milestone with homes in Melaka and some areas of Klang Valley now enjoying the benefits of Smart Meter.

For those who are new to the Smart Meter, it is an automated electrical measurement system that communicates your energy usage reading directly to TNB with no manual meter reading required. And most importantly, the installation of Smart Meter is aimed to provide you with the transparency of your energy usage. This means that with Smart Meter, you will be able to track and manage your daily energy consumption — all through the convenience of the
myTNB website portal
 or
app
, depending on your preference.

Moreover, with some of us continuing to stay home to keep away from the pandemic, it is now more relevant to have a clear view of how you are utilising your electricity at home as this will ultimately help to keep your household budget in check.

Here’s how:

Smart Meter Allows for Consistent And Up To Date Meter Reading

Smart Meter sends your electricity consumption directly to TNB, eliminating the need for a TNB meter reader to come to your home for manual readings. You can view your half-hourly energy usage via the myTNB portal and if you’re using the myTNB app, your home’s daily energy consumption is updated daily.

These smart features will also enable you to be more aware of how much electricity you use in your day-to-day living. With convenient access to this information, you can now take the right steps to be more energy-efficient.

This then brings us to the second point.

You Can Easily Track Your Energy Usage Via myTNB Portal Or App

By tracking your home’s energy usage and identifying your current household habits via the myTNB portal or app, you will be able to make some adjustments that could help lower your energy usage.

Here are some changes in household habits you could make – running the washing machine only when you have a full load, instead of washing smaller loads of laundry every day and setting the aircond on a timer so it turns off in the middle of the night once you are asleep. The ability to make these energy-efficient changes and see your consumption go down can be satisfying.

Furthermore, when you regularly track your electricity consumption, you will be able to identify usage patterns that are abnormal in your household. Especially in situations where a home appliance or switch is left on without anyone noticing, or usage that shouldn’t be there such as when you experience high electricity bills even when your house was left vacant for a period of time.

Conveniently Check and Pay Your Bill Online, Anytime And Anywhere

Keeping up with your electricity bills can now be more convenient. You can view previous electricity bills and make payments anytime and anywhere via the myTNB portal or mobile app.

If you don’t have Smart Meter installed in your home yet, you can still sign up for
myTNB portal
 or
download the app
, where you can easily access your current and previous monthly electricity bills, as well as make payment easily. and at your convenience.

***

Hopefully, these features will help you keep your household budgeting in check.

According to TNB, Smart Meter installation will continue as usual throughout the Movement Control Order (MCO) and will be carried out in stages, free of charge. There is no rollout schedule available as of yet, but if your area is selected, you will receive a notification letter from TNB two weeks prior to the installation date.

Rest assured that all TNB Smart Meter installers are trained to adhere to the guidelines and SOPs set by the Ministry of Health and the Ministry of International Trade & Industry to prevent the spread of Covid-19.

If you’d like to know more about Smart Meter, you can
learn more here.

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    Low Inn kooi

    2 years ago

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MIDF Launches MIDF Invest, Digital Investment Platform For US Stocks And ETFs

MIDF Amanah Investment Bank Bhd has launched its new MIDF Invest app, an online investment platform that allows Malaysians to invest in stocks and exchange-traded funds (ETFs) on the New York Stock Exchange (NYSE) and Nasdaq at competitive rates.

According to Malaysian Industrial Development Finance (MIDF), the app will also allow its users to open an Islamic account via a fully online onboarding process and invest in various Shariah-compliant shares and ETFs listed on the NYSE and Nasdaq. These include shares such as Apple, Alphabet, Facebook, and Tesla.

Additionally, the MIDF Invest app also contains features that cater to the needs of both beginner and advanced investors. There are tutorials and research to help beginner investors gain a better understanding of stock investments, as well as charting and other powerful trading tools for advanced users. The app also simplifies fund transfers to and from the investor’s Malaysian bank account for a more seamless investment process.

The group managing director of MIDF, Datuk Charon Wardini Mokhzani further said that the bank had decided to create the app following a growing interest in overseas markets investment. This is as investors become more sophisticated, with many of them being especially interested in the US stock markets.

“This is driven by the need to diversify one’s portfolio as well as the attractions of the high returns of the US markets, driven in part by the performance of technology companies. We have created this app because we believe that investing overseas should be made available and affordable for all,” said Datuk Charon during the virtual launch today.

(Image: The Malaysian Reserve)

MIDF also said that the MIDF Invest app is delivered in partnership with Saxo Markets Asia Pacific, which is a licenced subsidiary of Saxo Bank, a Danish investment bank. As an introductory offer, MIDF Invest is offering free brokerage for all trades that are less than US$1,000 between 6 to 31 July 2021.

If you’d like to give the MIDF Invest app a try, you can download it from
Google Play
 or the
App Store
.

(Sources:
MIDF
,
New Straits Times
,
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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    Shamsudeen

    2 years ago

MIDF IS A RELIABLE BODY.

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    Hairul Hj Buang

    1 year ago

i having an issue to login since last week.It has not fix yet 🙁

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