Astro To Provide Ultra HD Channels, Starting With EPL Matches

Astro customers will soon be able to watch sports matches and TV shows in Ultra HD (3840 x 2160 pixels). Astro recently announced it will be providing Ultra HD content, starting with two English Premier League (EPL) matches next month.

The pay-TV operator will be hosting a private showcase of the Liverpool vs West Ham and Arsenal vs Manchester City matches in the country’s first 4K broadcast on 12 August. Astro’s media invite stated the company will be providing more information on its Ultra HD plans during the event.

It is worth noting that this is not Astro’s first announcement on 4K channels. In the company’s
most recent financial report released in June 2018
, former Astro Group CEO Datuk Rohana Rozhan said Astro will broadcast the EPL in Ultra HD in October following its recent broadcast of the 2018 FIFA World Cup Russia. The former group CEO added that the company is expected to launch four 4K live sports and general entertainment channels.

(Source:
The Star
,
Lowyat.NET
)

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Should You Have Multiple Savings Accounts?

If you’re wondering why so many people have more than one savings and current account, the answer is in three simple words: easier money management. Tracking your finances is ten times easier when you have a savings account for each of your payments and spending needs.

Having said that, it doesn’t mean you should drive down to the nearest bank and open five savings accounts under the same bank. Instead, do your research and select a few banks that offer the best perks and open a savings or current account with each of them.

Here are some of the advantages of having more than one savings or current account under
different banks
:

Enjoy Multiple Promotions And Offers At Once

Just like different restaurants have different menus, banks usually have unique promotions to set themselves apart from their competitors. For example,
KFH Malaysia
 offers you the chance to win up to six times your monthly salary with their
‘Win Up To 6 Months Salary Campaign’
. This amazing campaign offers monthly prizes of up to two months’ salary every month, and grand prizes of up to six months’ salary!

To participate, simply open either a
KFH SURE Savings Account-i
 or
KFH SURE Current Account-i
 and set it as your primary salary account. If you have an existing salary account set by your employer, don’t worry, you still have a chance to win. Just deposit your savings into a newly opened KFH SURE Savings Account-i or KFH SURE Current Account-i, and you can be in the running to win the cash prizes!

For more details on terms and conditions of the campaign, simply click
here
.

Take Advantage Of Debit Card Benefits

Most banks will issue a debit card when you open a savings or current account with them. If you think a debit card’s function is limited to withdrawing money at ATMs, you’re sorely mistaken.

On top of having the convenience of performing cashless transactions at nearly every online and physical stores across the globe, some debit cards even offer cashback and rewards programme, such as
KFH Debit Card-i
. It’s also the first debit card that offers supplementary cards – whether it’s for your spouse, children, driver, or even your housemaid!

It makes managing your finances so much easier as you can set a budget for each of your supplementary card. Plus, you’ll also enjoy 10% cashback on your first retail spending and 0.5% cashback on all subsequent retail purchases! Learn more about KFH Debit Card-i’s
here
.

Easier To Control Budgets And Manage Finances

Spreading your earnings over several accounts will make it easier for you to achieve specific financial goals and keep track of all your expenditures. For example, you can have one savings account dedicated for emergency funds, one for utilities and bill payments, one for your groceries and retail expenditures, and perhaps another for you to save up to buy that new phone you’ve been eyeing for months.

Deposit a set amount of money into the savings account dedicated for your shopping use, and only withdraw from that account for your purchases. As long as you restraint yourself from dipping into your other pool of funds, overspending will never be an issue for you.

Have Backup Savings Account

The old saying ‘don’t put all your eggs in one basket’ is one of the best money management advice to your finances in check. In other words, you should always split up your earnings into several accounts to safeguard your finances.

So, if ever one of your savings account gets hacked into, or gets frozen by the bank (due to credit card debt or unpaid financing), or if you accidentally use up all the money in one of your savings accounts (yes, it can happen to the best of us), you’ll always have another pool of funds to fall back on.

Tip: Fortify your financial backup by stashing one of (or more) of your debit card at home or somewhere safe. This prevents you from ever finding yourself in a financial crisis – such as losing your wallet, or spending all of your money in one go.

Of course, these are just some of the benefits of having multiple savings account under different banks. Let’s not forget that you’ll also be enjoying different rates and have better chances of getting a financing or credit card approval with multiple banks! Are you now thinking of opening more savings or current account?

You can compare accounts like KFH SURE Savings Account-i and KFH SURE Current Account-i on our
comparison page
 and start managing your finances better for your future!

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Maybank Offers 40x Bonus Points, Valid Only Until 17 December (Tomorrow!)

Maybank is currently running an extremely limited time promotion in conjunction with its 40
th
 Maybank Cards Anniversary, where chosen cardmembers are rewarded with 40x bonus points for every RM1 spent. Ongoing until 10am on 17 December (that’s tomorrow!), you can tap into this deal by making purchases from any retail or online merchants on valid Maybank cards.

Open only all Maybank and Maybank Islamic credit cardholders (Mastercard, Visa, and American Express credit or charge cards), the bank also clarified that this deal is applicable for both local and international retail purchases. However, transactions such as insurance, utilities, government-related payments, EzyPay plans, and cash advances are excluded.

Maybank will use a randomiser programme to select a total of 4,000 winners from the pool of eligible transactions. Note as well that each winner can only win up to 4 million points per person, which means that you can earn bonus 40x points for up to RM100,000 of expenses if you are chosen as one of the winners.

According to the bank, the points earned during this campaign period will be credited by 15 January 2021. You can find out more about the special
40x bonus points anniversary promo by Maybank
 here.

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Alex Cheong Pui Yin

Alex Cheong Pui Yin

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

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    Edison Ting

    2 years ago

if use to top up boost or shopeepay or lazada wallet valid or not?

The site did not mention this.

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5 Steps to Surviving Payday Weekend Without Going Broke

It’s easy to tell when Malaysians have gotten paid. All you need to do is attempt to enter a popular shopping mall on the weekend. Whilst nothing stops us from visiting at any other time; when we’re flushed with cash we’re more likely to be in a place where we can spend it.

But for those of us who love a good shop; having payday fall too close to a weekend means trouble: it usually means coming out on the better side of Monday almost broke. Don’t let that be you (or you again!) with these easy steps.

1. Make the Budget ASAP

Another way to convince yourself not to overspend is to write up your monthly budget as soon as you can. Doing the sobering calculations will certainly remind you how much money you have to spend (and how much you don’t!).

The longer you put off putting down your latest budget to writing; the easier it will be to talk yourself into believing you have more disposable income than you actually do.

2. Pay the Bills… ON FRIDAY!

The easiest way to avoid spending all your money is by having nearly none of it to spend. Endevour to pay all your bills and loan instalments before the weekend arrives. Seeing an almost arid, dry bank account will be the demotivator you need to not overspend.

If you haven’t already, you can also opt to sign up for a
standing instruction
 for the day after payday. This ensures that you can’t back out from your quick bill paying just to attend that warehouse sale.

3. Transfer a Chunk of Savings Immediately

Another way to make sure you have a savings beyond the weekend is to make sure you save first! Along with your bills, transfer a chunk of savings to a bank account with limited ATMs (or preferably no ATM card). This will make it extra difficult for you to spend it.

If you haven’t got an account like that; there’s no time like the present to get one. International bank franchises are usually great for this purpose. ATMs are usually scarce and interbank withdrawal fees are an exorbitant RM4 per withdrawal. You’ll definitely think twice at that rate!

4. Indulge in Virtual Window Shopping

Perhaps if you can, avoid the malls altogether and get your window shopping fix from online window shopping. Online window shopping basically means you scour the online store; pick your purchases; put it into your cart but refrain from checking out.

The act of browsing and even adding items to your cart will make you feel as if you are truly shopping but by keeping your credit cards locked up and considering the hassle of shipping fees and possible mail losses would hopefully get you to think twice to ask yourself if you really do need those items.

5. Treat Yourself

You might read number 5 and go “Wait, what? How does treating myself help me save money this weekend?” The key in treating yourself and still not going broke is being entirely conscious and deliberate about it. This means, knowing exactly how much money you have available to treat yourself and doing so acknowledging that you are able to enjoy yourself once in awhile.

Undertaking conscious treating prevents you from falling into frustration or self-pity (“I work so hard and can’t enjoy a thing!”) about money that could inevitably lead to binge shopping. As long as your treat falls into the money you have budgeted for the treat; you’ll be just fine and be pretty happy too.

With all that said, there are still a tonne of ways you can enjoy your payday weekend. It’s just a matter of not losing sight of your finances in the process. Have a great weekend!

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Maybank Revises FC Barcelona Visa Signature, Cashback Now Fixed At 1% From August 2020

Maybank will be revising the cashback feature of the popular
FC Barcelona Visa Signature
 from next month onwards. Beginning 1 August 2020, the card’s cashback will be fixed at 1% and applicable all year long.

The co-brand card, launched back in October 2017, quickly became a favourite among Malaysians due to its generous cashback rates. Its unique cashback feature is tied to the start and end of the European football season, with upsized cashback of 10% capped at a generous RM100 in May and August. For other months, the card offers 2% cashback on almost all retail spending except for utilities, government bodies, and
e-wallet reloads
, and is capped at RM50 a month.

In total, cardholders could earn a maximum cashback of up to RM700 per year, which is
among the highest among its peers
 in the industry.

From 1 August 2020, however, the Maybank FC Barcelona Visa Signature will only award 1% cashback all year long on all retail spending (with the same restrictions to utilities, government bodies, and e-wallet reloads). Maximum cashback is capped at RM50 per month, which means you’ll need to spend RM5,000 to earn RM50.

Besides the amendment to the cashback earning rates, there are no other changes to the card from 1 August 2020.

(Source:
Maybank
)

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Pang Tun Yau

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

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    Wtf

    3 years ago

Too bad…

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    krengz

    3 years ago

so frustrating

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Guaranteed Gifts All Around Including RM600 Cash via DuitNow & Amazfit Smartwatches

Everyone’s a winner this week – The Unbox This Week credit card campaign is back with guaranteed gifts all around and four participating banks!

For those who are new to this campaign, the Unboxing 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 (30 August – 6 September), our featured bank partners include

Citibank, HSBC Bank, Standard Chartered Bank, and CIMB.
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 – Choose Between A Guaranteed Amazfit GTR 2e And GTS 2e

From 30 August to 6 September, Citibank is letting you choose between a guaranteed Amazfit GTR 2e and GTS 2e as your gift when you apply for selected cards from Citibank through us! You’ll be sporting the latest fitness smartwatch in style with either one of these Amazfit smartwatches.

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 – Guaranteed RM600 Cash via DuitNow

Although you may be physically-distanced from your loved ones, you can still surprise them by sending money to them. Send them some love in the form of cash when you get the guaranteed RM600 cash via DuitNow when you apply for a credit card with HSBC.

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 – Guaranteed Realme C21Y Smartphone

Standard Chartered is giving away a guaranteed gift – the Realme C21Y smartphone

to ALL approved applicants. Stay in touch with your family and friends with this phone that’s equipped with a large 5000mAh battery, 6.5” Full Screen and impressive Triple Camera!

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.

CIMB – Guaranteed Xiaomi Redmi TV Soundbar

CIMB is giving away a Xiaomi Redmi TV Soundbar to its credit card applicants. Just apply, activate, and perform the first swipe of any amount to be eligible for this guaranteed new addition to your home entertainment system!

Only applications for CIMB e Credit Card are valid for this campaign. Upon approval, you do have to activate and spend any amount to meet the requirements of the campaign and be eligible to get the prize.

Existing cardholders of any CIMB credit card and individuals who have held or cancelled a CIMB credit card in the six months are not eligible for this campaign.
Apply for the CIMB e 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 6 September (1pm), 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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WeChat Pay Malaysia Looks To Expand Its Services In Malaysia

WeChat has set an aggressive target for its e-wallet, WeChat Pay, to be the leading mobile payment solution in Malaysia by 2023. To achieve this, the company is now looking to further expand its merchant base in the country.

Since its rollout in August last year,
WeChat Pay MY
 (as the local e-wallet is known) has been growing organically with little marketing efforts – unlike other major e-wallets in Malaysia. Instead, it has been focusing on the grassroots level and acquiring merchants at a steady pace. Today, commonly-visited retailers such as KK Mart and Starbucks accept WeChat Pay MY.

However, WeChat is looking beyond retailers as partner merchants to support WeChat Pay MY. The company wants mobile payments to be a ubiquitous payment method, and that means being able to even use it at a
mamak
restaurant. WeChat has recently signed on with the Syed Bistro chain to support WeChat Pay MY. Customers can make an order from the app, pay for the items, and have their orders delivered to their tables. Further down the road, WeChat also aims to support local
pasar malam
and roadside stall vendors to accept the e-wallet.

WeChat also demonstrated how its e-wallet could facilitate a seamless payment experience for users. At a recent event in Kuala Lumpur, WeChat revealed prototype vending machines that supports e-wallet payment. Another concept was to enable users to purchase petrol with the e-wallet through a mini-kiosk by selecting a petrol station and amount of fuel they wish to purchase. Once they arrive at the kiosk, a camera will instantly detect the car plate to activate the pump and refuel based on the amount paid for.

As Malaysia’s adoption of mobile payment solutions continue to grow, we can expect to see more exciting new innovations from the likes of WeChat Pay MY and other e-wallet players in the country.

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Govt To Spur EV Adoption In Malaysia Through Various Tax Incentives

(Image: Reuters)

The government will be doing its part to stimulate interest in electric vehicle (EV) adoption in the country, proposing various tax incentives under Budget 2022 covering both purchase and maintenance of the vehicles.

Finance Minister Tengku Zafrul Aziz announced that the government will support the local EV industry by introducing full exemptions on import and excise duties on these vehicles, as well as full sales tax exemption (currently, the latest
sales tax exemption
 for locally-assembled vehicles is 100% and 50% for fully-imported vehicles).

On top of that, the government will fully waive the road tax for EVs as well as individual income tax relief of up to RM2,500 for the cost of purchase & installation, rental, and subscription of EV charging facilities.

The incentives above will mean considerably more affordable prices for EVs in Malaysia, since virtually all taxes linked to normal vehicles are waived or exempted. In turn, this may prompt manufacturers to sell their EVs here and more importantly, encourage more Malaysians to purchase these energy efficient vehicles and help the country meet its goal of being carbon-neutral by 2050.

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Pang Tun Yau

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

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    Anonymous

    1 year ago

The only one who have the ability to purchase EV car is the rich.

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Motor Vehicle Insurance Claim Made Simple

While none of us would like to see ourselves in a situation like this, it is a reality we need to always prepare for in case the unfortunate incident befalls us. Accidents happen at anytime and can be for the most unpredictable reasons.

Should you find yourself in this unfortunate circumstance, would you know what to do?

If you have had this unfortunate encounter, chances are you have been through the entire process. For the first timers, the most important thing to do is remain calm and be cooperative to minimise unpleasantries.

Once you have established that both drivers are alright, what should you do from here?

Step-by-Step

Step 1 – Make a police report at the closest traffic police station in accordance to the district the accident occurred. Ensure the report is done within 24 hours of the accident.

Step 2 – Send your car to the workshop and leave it there for repairs. If the damages to the car is minor and it is still in driving condition, you may continue to use the car until it is time for repairs and assessment when you will have to bring the car back in to the workshop.

Step 3 – Inform the insurer of the accident and the intention to make a claim. To file for a claim, it is vital you inform the insurer seven days from the date of accident or within 30 days if you were hospitalised (this is to avoid any issues from prohibiting your claims – also note that these rules may differ from insurer to insurer, do check your policy to ensure you are within the guidelines).

Step 4 – Collect the results from the police investigation. This is the point where it states who exactly was at fault during the accident. This is important as the innocent party’s NCD (No Claim Discount) will not be affected whilst the one at fault will have to foot the repair bills and lose their NCD.

Step 5 – Submit the police investigation results back to the insurer to be processed. To process the claim, insurers will then send an adjuster to review the damages of the motor vehicle. (If you had previously opted to continue driving your car, you would have to bring the car back in at this point.)

Step 6 – Upon approval of the assessed damages, the workshop will then be informed of the approval to fix your car.

Step 7 – When the workshop is done working on your car, you should head down to the workshop and inspect the repairs. If you find the repairs done up to your satisfaction, you may then sign off and will have no further claim towards any further repairs should you find any after.

Step 8 – Claim for “loss of use”. Loss of use is compensation paid to you for the inconvenience you experience while not having your car. Request the workshop to prepare a letter stating the days required to fix your car and total of days the car was in the workshop. The insurer will then provide you with a compensated amount upon processing relevant details.

Be Safe

The steps above work as a guideline and do not take into account if it is a third party coverage, comprehensive, under insuring the vehicle and other factors that may change the process.

As much as we generally hope you would never have to use this guide, it would be of great use to ensure you are well informed of what to do.

Do browse through our page to make your comparisons, obtain an estimate or simply sign up for a
motor insurance
.

If you have an interesting story to share with us about when making your claims, do drop us a line in the comments section below and tell us how it all went.

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What's Your Smart Match? Take This Quiz To Find Out

We rely on the Internet for almost everything we do these days from ordering meals and connecting with friends, to hosting work meetings and gaining new knowledge. A technology device is no longer something we use for just a single purpose but more like a close companion that helps us manage various aspects of our life. Hence, when selecting a device, it’s necessary to consider not just its ability to perform certain functions but also how it complements our overall lifestyle.

In addition, many of us have undergone a change in our day-to-day routine since the Covid-19 pandemic. For example, more of us are working remotely and security functions like screen blur can provide an extra layer of protection in public areas. Alternatively, those who are working from home might prefer a 2-in-1 device that switches easily from work mode during the day to play mode at night. Parents, on the other hand, might appreciate a smart tablet that can be mobilised easily throughout the home.

With this, Lenovo wants to help you find your ideal device that not only meets your needs but also serves as a companion that fits seamlessly into your daily life. Let’s take a look at how Lenovo’s devices with Smarter Technology offer intuitive user experience to all.

1)
Power Through The Day

We’ve all been there: it’s a busy day at work and we’re actively juggling between tasks with multiple applications running simultaneously. Your laptop freezes and by the time you get your laptop running again, you are no longer in the zone.

With Lenovo’s smarter technology, your computer device is specifically designed to optimise performance in various situations. Lenovo Q-Control as found on the Yoga 9i and Yoga Slim 7i Carbon allows users to ramp up the power to maximum and shift into performance mode for heavy-duty tasks. Meanwhile, you can always go into stealth mode for reduced fan noise on movie nights with a toggle on the FN + Q button.

Moreover, devices like the IdeaPad Slim 5 are equipped with the Rapid Charge Express technology that offers up to three hours of use with just a quick 15-minute charge. This way, you won’t have to worry about running out of battery if you need to make a quick dash for a coffee run from your meetings.

2)
Secure Usage Everywhere You Go

Our lives are so integrated with technology, it’s likely that our whole life is on our device including work reports, personal records, and so forth. Hence, it’s important to keep our documents protected and secure, as well as prevent people from accessing such data especially when we’re working in public areas.

With the flip-to-boot function, simply lift the display lid and your device instantly boots to Windows 10. It uses facial recognition technology to grant users access instead of a conventional password.

As a lot of our meetings are conducted virtually these days, intuitive security functions can prove to be very useful for protecting personal privacy. One such function is the background blur which uses Smart AI to blur the background when the camera is turned on for capturing photos or video calls. This helps safeguard the location of users especially within public spaces.

Some of the devices like the Yoga 9i and Yoga Slim 7i Carbon even come with an AI-powered attention-sensing software – Glance by Mirametrix which recognises when the user is looking away and automatically blurs on-screen content.

3)
Ultimate Entertainment Experience

With more people working from home, our devices have begun to wear a lot of hats – virtual workplace, theatre, concert stadium, gaming outlet, and more. During the day, we spend a lot of our time working in front of the screen and once we clock off from work, the device doubles as a source of entertainment as we lounge on the couch.

To help you fully immerse yourself in an indulgent cinematic experience, the Super Resolution 2.0 feature automatically upscales your videos up to 4K resolution on Windows Media Player and Google Chrome web browser.

Other intuitive functions include the time-of-flight sensor which is incorporated in devices like the Yoga Slim 7i Carbon that captures user presence and adjusts the laptop’s behaviour for greater security and ease-of-use. For example, when the user walks away, the device intuitively dims and locks the screen while the video pauses. The laptop is able to sense the user’s return and automatically lights up the display and resumes playback.

4)
Learn Like A Pro

Regardless of whether students attend online or physical classes, they would still be highly dependent on their computer devices for completing homework, learning new skills, and so forth. Students of all ages, from those in primary school to those who are about to receive their doctorates, spend a lot of time in front of the screen these days. So, an ideal learning device needs to offer a perfect balance of performance, portability, and security.

Hence, it’s important to invest in a device that helps you get the best out of your learning experience without compromising on your comfort and privacy. Smart learning features like the smart noise cancelling feature uses three different modes to tune out unwanted background echoes and deliver your voice loud and clear. The Eye Care feature keeps your eyes safe, fresh, and healthy even under conditions that may call for increased screen time. Eye Care ensures that the display lowers harmful blue light when appropriate, to reduce strain on the eyes.

Aside from helping students thrive, learning devices like the IdeaPad Slim 3i, IdeaPad Slim 5, IdeaPad Slim 5 Pro, and IdeaPad Flex 5 take into account the safe usage of technology. For instance, Lenovo Aware is a software designed to promote the healthy use of technology and proactively assists the user to maintain a healthy lifestyle. To help you keep track of your progress, a weekly or monthly report provides you with statistics, including daily cumulative PC usage time, posture, and distance status. This feature would also be helpful for parents to keep an eye on their young children.

5)
Family Fun For All

There are times when we would need a shared family device so everyone could get involved in an activity, be it learning to bake through online tutorials or singing along to music videos in a car on a road trip. The Lenovo Smart Tab M10 with Google Assistant is hailed as one of the most versatile among other smart tabs that provides mobile entertainment when hand-held.

When you dock your tablet on the Smart Charging Station, you can easily control smart home devices and quickly access your most important updates with Google Assistant’s Ambient Mode on voice command, making it the perfect device for managing your home.

Meanwhile, Lenovo’s Kids Mode offers dedicated kids’ content, parental controls, eye protection features, posture, and bumpy environment alerts to encourage a healthy viewing gesture. It is also intentionally designed to be thin, ultra-light, and super portable and comes with a face unlock feature for extra login security.

***

All devices mentioned comes with Windows 10 Home. Get a FREE upgrade to Windows 11* (when available, see below). Now that you’ve familiarised yourself with Lenovo’s smart features, get ready to meet your smart match! Whether it’s a laptop, 2-in-1 device, or tablet, Lenovo has just the right device for you to suit your day-to-day routine.

For more information, head to Lenovo’s official
website
 or
FB page.

This 12.12 , shoppers are entitled to Lenovo store vouchers
worth up to RM200
and freebies
worth up to RM1,100
 when they spend RM3,000 and above on any Lenovo devices. Find out more about Lenovo’s 12.12 offers on
Shopee
 and
Lazada
 today!

*The Windows 11 upgrade will be delivered to qualifying devices late 2021 into 2022. Timing will vary by device. Certain features require specific hardware (see
aka.ms/windows11-spec
).

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PNB Announces 5 Sen ASB Income Distribution For 2021

(Image: BHarian)

Permodalan Nasional Bhd (PNB) has announced a distribution payout of five sen per unit for Amanah Saham Bumiputera (ASB) unitholders, for the year of 2021. The amount is comprised of a 4.25 sen distribution, along with a 0.75 sen bonus.

For comparison, the income distribution this year is marginally higher than the amount that was recorded in 2020 at 4.25 sen per unit. Back then, ASB unitholders earned a dividend of 3.5 sen distribution and 0.75 sen bonus.

PNB further shared that the total disbursement for the income distribution this year will amount to RM8.9 billion, which is expected to benefit 10.4 million unitholders. This brings the fund’s total cumulative income distribution and bonus since it was first introduced in 1990 to RM168.5 billion.

(Image: Bernama)

During the announcement, the group chairman of PNB, Tun Arifin Zakaria commented that this positive result can be attributed to the fund’s continuous effort in diversifying and strengthening its portfolio. “The stronger performance of our global equity investments has managed to cushion the impact of the challenging domestic market. This exemplifies the importance of a well-diversified portfolio in managing portfolio risks and delivering sustainable returns,” he said.

Specifically, PNB had increased ASB’s allocation for international investments from 5.9% in 2020 to 8.2% in 2021. Consequently, international public equities contributed to 30.7% of gross income this year, as compared to only 24.2% in the previous year.

“The total rate of five sen per unit translates into a spread of 315 basis points over the 12-month fixed deposit rate, which currently stands at 1.85%,” Tun Arifin further shared.

Meanwhile, the president and chief executive officer of PNB, Ahmad Zulqarnain Onn said that the company has posted a praiseworthy financial performance, attesting to its resilience as it steered its way around the uncertainties of 2021.

(Image: Kosmo)

“Strengthening its Focus 4 strategy, PNB this year made significant progress in three focus areas, namely creating value in the performance of its domestic portfolio, continuing its diversification efforts into global markets through multiple asset classes, and accelerating its digital offerings,” Ahmad Zulqarnain explained. For context,
Focus 4 is PNB’s strategic plan
 that will help guide the fund management company’s growth and transformation between 2020 to 2022.

Ahmad Zulqarnain also highlighted that PNB’s total asset under management (AUM) had increased by 4.9% to RM338.4 billion during the first 11 months of the year – which is an indication of continued trust from its unitholders. Additionally, ASB’s number of accounts surged by almost 200,000 to 10.4 million accounts, whereas units in circulation grew by 4.3% to 181.2 billion units.

(Source:
The Edge Markets
)

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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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Luno To Update Process Of Transferring Cryptocurrency, Requires Users To Provide Confirmation

(Image: The Malaysian Reserve/Razak Ghazali)

Cryptocurrency exchange Luno has notified users that it will soon be implementing some changes to the process of transferring cryptocurrency on its platform, requiring them to provide confirmation for their transactions. This is in line with an update to the Malaysian regulatory framework for digital asset exchanges (DAX), implemented by the Securities Commission Malaysia (SC).

According to an email from Luno, users will soon need to provide confirmation as to where they are sending their cryptocurrency to. “This will include the name of the virtual asset service provider (VASP, otherwise known as the cryptocurrency platform) or private wallet service that you’re sending it to, as well as the name of the recipient,” it shared. Other details that may also need to be provided include the
recipient’s full name, date of birth, and country of residence
 (if you’re sending the cryptocurrency to an address belonging to someone else).

Similarly, when you are
receiving cryptocurrency from someone
, you’ll also be required to go through a similar confirmation process by providing such details.

At present, both the sending and receiving of cryptocurrency on Luno do not require any form of confirmation from users. Your cryptocurrencies will be automatically sent or received once you have keyed in the required details and approved the transaction on the Luno app.

Luno explained that these changes are brought about due to the SC’s move in updating its regulatory framework for DAX with the introduction of the
Travel Rule
. The Travel Rule is a directive that requires VASPs to gather details about the recipient of a crypto transaction, and to exchange information with the VASP on the other end of the transaction. The sharing of these payment instructions and details will then provide some security against money laundering and other suspicious transactions.

To note, the Travel Rule is not new; it has been applied to financial institutions – including banks – for the past decades. The rule was recently extended to the cryptocurrency industry by the
Financial Action Task Force
 (FATF), an independent inter-governmental body.

Finally, note that these changes by Luno has not gone live yet; Luno said that you will receive another email when they are implemented. “You don’t need to take any action at this time – you will only be required to act when you go to send or receive crypto,” the cryptocurrency exchange stated.

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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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Think Twice Before Using Your Credit Card On These Purchases

Usually, it would make perfect sense to pay for your purchases on credit – provided of course, that you pay your bills on time!

Credit cards can be incredibly helpful
 when used wisely, however some payments or purchases can be risky and should be given proper though before charging them to your card and probably best paid off by cash or debit card.

1. College/University Tuition fees

Paying for your tuition fees using a credit card can be risky, unless you’re absolutely certain that you’re are able to pay off your debt before the semester ends.

Incurring credit card interest penalties (8.88% p.a. minimum) on such a huge expense is no joke. In addition to that, some colleges and universities that accept credit card payments also charge a processing fee.

Instead, consider opting for other funding options such as
PTPTN
, a low interest student loan.

2. Drinks At The Bar

It may seem convenient to start a bar tab on your credit card when you’re hanging out with your friends.

However, since cash isn’t actually leaving your hand, there’s a good chance that you’ll be staring at a massive bill at the end of the night.

If you can’t monitor how much you’re spending, it would be a good idea to order and pay for your drinks then and there.

3. Medical bill

If you insurance doesn’t take care of it, it may seem like a good idea to pay off your medical bills using your credit card.

However, if you do not have an
emergency fund
 set up, you’re going to have a big wall of debt staring at you in the face.

A more cost-effective approach would be to work out a payment plan with your hospital. They are often accommodating and depending on the hospital, it’s possible to pay off your fees without interest over several months – or at the very least, at a lower interest rate that’s cheaper than your credit card!

4. Down Payments

Car down payments are generally in the region of RM5,000 and above. This is a high sum for most ordinary wage earners to repay in two months much less one.

In one swipe, you’ve likely created a revolving balance for yourself that will likely increase. If you are earning enough to repay this amount in less than 3 months, you should be fine but chances are with an income like that, you won’t need a credit card for your down payment.

5. Gambling

Seriously?

If you’re strapped for cash, hitting the casino in hopes of hitting it big probably isn’t the wisest idea in the world. You’re more likely to go home with more debt than you went in with.

Never say never

Credit cards are only bad if you are not responsible with your spending. If you set a budget and know you can pay the balance off every month, you can reap the benefits and rack up some serious
cashback
 and
reward points
 and on your card!

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Travelling Soon? Why Travel Insurance With Covid-19 Coverage Is Now A Necessity

(Image: The Malaysian Reserve)

Malaysia has finally
 reopened its international borders from 1 April 2022
 after more than two years of closure. This means that our nation will once again welcome travellers from abroad without  quarantine requirements, provided they meet entry requirements.

At the same time, more countries around the world are doing the same, which means we too may be seriously contemplating travelling abroad once more. While fully vaccinated individuals have been allowed to
 travel abroad freely since October 2021
, overseas flight options were often limited and expensive, and travellers were also required to bear the heavy cost of quarantining at the destination country and at home when they return. This has deterred many from going abroad, but as global restrictions gradually lift, this will no longer be an issue.

So, if you’re ready to travel abroad again, that’s great! But with Covid-19 still a concern, your travel essentials should now also include getting travel insurance that specifically comes with Covid-19 coverage. What exactly does a travel insurance with Covid-19 coverage offer, though? And

is it
absolutely
 necessary?

Let’s break it down.

Travel Insurance As A Travel Requirement

Prior to Covid-19, the purpose of travel insurance was chiefly to protect policyholders from mishaps when they travel. This offers some financial peace of mind in the event of unfortunate circumstances, such as accidents, medical emergencies, and travel inconveniences such as flight or baggage delays as well as missed connections or cancellations.

In this post-Covid world, however, travel insurance has adopted a more regulatory role, with many governments making it an entry requirement for those who wish to enter their country. A good example, of course, is Malaysia itself.

With the reopening of international borders, the Malaysian government has stated that all short-term foreign travellers entering the country must possess a
 minimum insurance coverage of US$20,000 (approximately RM84,000)
. This is irrespective of their Covid-19 vaccination status (
although there are some exceptions
), and their policies must be able to cover treatment as well as hospitalisation costs if diagnosed positive for Covid-19.

Other countries that have also imposed similar requirements include
 Thailand
,
 Vietnam
,
 Anguilla
, the
 British Virgin Islands
, the
 Cayman Islands
,
 Chile
, and
 Egypt
. Some nations even take it one step further by mandating that travellers must possess
specific
 travel insurance that covers Covid-19. Aruba, for instance, requires all foreign travellers to purchase its government-issued
 Aruba Visitors Insurance
 even if you already have your own travel insurance policy.

In addition, you may also want to consider beyond the entry requirement of your destination, but also of any transits or stops in between (though in most cases it is only a mask mandate in major transit airports). As you can see, travel insurance has become more of a necessity today.

What is travel insurance with Covid-19 coverage?

Travel insurance with Covid-19 coverage specifically offers additional coverage if you test positive for the virus during your trip, on top of the standard protection for your well-being, personal belongings, and financial expenses. Depending on the insurer, Covid-19 coverage may be offered as an add-on because standard travel insurance plans typically do not offer protection (or very limited protection) against epidemics and pandemics, or any related issues (such as quarantines or hospitalisation due to the epidemic or pandemic).

Why isn’t Covid-19 covered by standard travel insurance plans?

This is because when an event is declared as an epidemic or pandemic, it is generally also considered to be a “known” or foreseeable event; in other words, the occurrence has been publicised to you through media reports or government announcements, and you can take steps to avoid the event.

Once a known event is pronounced (on a certain date), you cannot purchase an insurance policy – which usually only covers the “unknown” – expecting it to cover you for said event. However, Covid-19 is a specific exemption to the pandemic exclusion clause, as the world continues to find a balance between health and safety and the global economy.

What kind of benefits can you expect from a policy with Covid-19 coverage?

The scope of protection offered by a travel insurance with Covid-19 coverage will differ from insurer to insurer, with some being more comprehensive than the others. Most Covid-19 coverage will cover the following costs if you test positive for Covid-19 (on top of the usual coverage offered by standard travel insurance policies):

Covid-related medical costs

Hospital allowance

Travel cancellations, delays, interruptions, and curtailment (including for expenses such as food, lodging, and transportation incurred during these circumstances)

Emergency medical evacuation, and repatriation of mortal remains

While these may be deemed sufficient, our recommendation is to look for insurers that also include quarantine allowance that provides a fixed daily allowance to cover for quarantine expenses. The reason is simple: the Omicron variant – combined with fully-vaccinated status – means it is unlikely that you will need to be hospitalised if you get infected. Further, many countries only require self-isolation if you test positive, which means you won’t be eligible for hospital allowance.

Of course, you should read the fine prints of your policy to get a clearer idea of the conditions that apply to each benefit.

Insurance plans with Covid-19 coverage

Now that you’ve an idea of how travel insurance plans with Covid-19 coverage works, here are several insurers that are offering such plans in Malaysia. You can check them out and do a little comparison of your own!

*
The benefits listed below are for individual plans, as opposed to family plans.

AIG

Depending on the plan that you opt for – Basic, Standard, or Deluxe – the
 AIG Travel Insurance
’s Covid-19 coverage allows you to make claims for:

Medical expenses claim, emergency medical evacuation, and repatriation of mortal remains of up to RM700,000

Quarantine allowance of up to RM500 per day (up to a maximum of RM7,000)

Travel cancellation and postponement claim of up to RM15,000

Travel curtailment claim of up to RM15,000

There is also a Starter plan that includes very limited benefits and no Covid-19 coverage, but this may not be the best plan for those who are looking to go abroad at this time.

Allianz

Allianz has two travel insurance plans, namely
 Allianz Travel Easy and Allianz Travel Care
. Both cover personal accident, medical expenses, and travel inconveniences – with Allianz Travel Care providing a higher amount of compensation (with higher premium too, of course).

With regard to Covid-19 coverage, neither plans explicitly state that they offer such protection, but they do include a Quarantine Cover (as a result of notifiable disease) as part of their medical-related benefits. Given that notifiable disease refers to any diseases that are required by law to be reported to government authorities, Covid-19 should qualify for the benefit as well. However, make sure to check in with an agent to confirm.

AXA Affin

Under AXA Affin’s
 overseas travel insurance plans
 – consisting of AXA Travel Online and SmartTraveller Enhanced – you will have the option to include coverage for Covid-19 via its Pandemic Cover add-on.

Depending on which plan you purchase, the claim amount provided via the Pandemic Cover add-on will differ. For instance, if you opt for the
 AXA Travel Online plan (single trip)
, you will be entitled to the following if you’re diagnosed with Covid-19:

Medical, hospital, and treatment expenses of RM300,000 (for VIP standard plan <65) or RM150,000 (for VIP senior plan ≥65)

Hospital allowance of RM350 per day (maximum RM10,500 per individual for VIP standard plan <65; maximum RM7,600 per individual for VIP senior plan ≥65)

Unlimited claim for emergency medical evacuation, emergency medical repatriation, and repatriation of mortal remains

Trip cancellation claim of RM20,000

Trip curtailment claim of RM20,000

Berjaya Sompo

The
 SOMPO TravelSafe plan
 offers up to RM500,000 protection against Covid-19 related complications, along with other travel mishaps. Its benefits include overseas quarantine allowance (due to Covid-19) of up to RM2,000, travel curtailment claim of RM15,000, and travel cancellation claim of RM15,000.

Note that the plan is only applicable to fully vaccinated individuals with negative Covid-19 test results, approved by Malaysian authorities within 72 hours before departure.

Chubb

Chubb’s travel insurance
 has been expanded to now include benefits that cover Covid-19 as well, offering:

Medical expenses claim of up to RM450,000

Unlimited claim for emergency medical evacuation and repatriation, as well as repatriation of mortal remains

Daily hospital income of up to RM350 per day (for 30 days)

Travel cancellation claim of up to RM50,000

Travel curtailment claim of up to RM50,000

Etiqa

Etiqa has
 up to six travel insurance plans
 to suit different needs, but for those who are travelling overseas (aside from Singapore), the
 TripCare 360 Insurance
 or
 TripCare 360 Takaful
 will be what you’ll need. Both plans provide Covid-19 coverage via an add-on that you can purchase, providing the following benefits:

Medical expenses  up to RM300,000 (age 60 and below) or up to RM150,000 (age 61 to 70)

Emergency medical evacuation and repatriation up to RM100,000 (age 60 and below) or up to RM50,000 (age 61 to 70)

Repatriation, burial, and cremation of mortal remains up to RM100,000 (age 60 and below) or up to RM50,000 (age 61 to 70)

Trip cancellation claim up to RM5,000

Trip disruption claim up to RM5,000

Note that Etiqa follows the travel recommendation list laid out by the Centers for Disease Control and Prevention (CDC), stating that it does not cover
 destinations with epidemic or pandemic under Level 4
.

MSIG

Like many other insurers,
 MSIG’s TravelRight Plus
 also lets you add on Covid-19 coverage. Its benefits include:

Medical expenses claim with overall limit of up to RM450,000

Follow-up treatment in Malaysia, claimable up to RM100,000 (subject to overall limit of medical expenses)

Emergency medical evacuation and repatriation claim of up to RM500,000

Repatriation, burial, and cremation of mortal remains claim of up to RM500,000

Hospital income of up to RM400 per day (maximum up to RM12,000)

Travel cancellation claim of up to RM25,000

Travel curtailment claim of up to RM25,000

Tune Protect

Tune Protect has two plans that offer Covid-19 protection:
 COVID Lite Plan and COVID Plus Plan
. The COVID Lite Plan offers fairly basic benefits, limited only to medical expenses (Stage 3 to 5 treatment; up to RM100,000) and emergency evacuation and repatriation (up to RM500,000).

Meanwhile, the COVID Plus Plan allows you the following benefits:

Medical expenses claim of up to RM250,000

Quarantine allowance of RM100 per day (up to RM1,400)

Hospital income of RM350 per day (up to RM10,500)

Emergency evacuation and repatriation claim of up to RM500,000

Compassionate visit claim of up to RM5,000

Bereavement allowance of up to RM5,000

Trip cancellation claim of up to RM5,000

Trip curtailment claim of up to RM5,000

Zurich

The Covid-19 optional add-on for Zurich’s
 Z-Travel Insurance (International) plan
 also offers coverage for several pandemic-related circumstances, namely:

Medical expenses claim of up to RM500,000

Death benefit of RM10,000

Hospital allowance of RM150 per day (up to a maximum of RM9,000)

Childcare benefit of RM10,000

Travel cancellation claim of up to RM30,000

Travel alteration claim of RM10,000

***

With the world gradually reopening once more, there’s no doubt that the temptation to see the world again is there. But as you indulge the travel bug in you, your updated list of travel essentials should include purchasing travel insurance with Covid-19 coverage; these insurance plans are now more of a necessity than an option.

This is especially true for individuals who have been able to avoid getting infected by Covid-19 all this while as they
 may be more susceptible
 to it as compared to those who have already been exposed. Having appropriate coverage will no doubt provide some peace of mind, especially when you are in a foreign land.

Finally, if we’ve missed out on any insurers offering travel insurance plans with Covid-19 coverage, do let us know and we will update the list!

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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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Facebook Pay: Send Money Over Facebook And Messenger

Facebook has introduced a new payment service in the US that lets users send money to each other through Facebook and Messenger, known as Facebook Pay. In the near future, the service will also be made available to WhatsApp and Instagram, which are also owned by Facebook.

Unlike an e-wallet, Facebook Pay doesn’t store any money in your account – it is just a seamless way for you to make payments from within the Facebook group of apps. Besides sending money to other users, Facebook Pay can also be used as a method of payment for the Facebook Marketplace. Once you enter your payment details for the first time, you can use Facebook Pay to make in-app payments and purchases without re-entering them each time.

Facebook Pay is free of charge and accepts both credit and debit cards as well as Paypal. To get started, users just have to go to Facebook or Messenger, find Facebook Pay under “Settings”, and add your preferred payment method to complete the payment set up. For better security, users also have the option to create a PIN or use biometrics for an added layer of verification.

According to Facebook, Facebook Pay allows you to view your payment history, manage payment methods, and update your settings in one place. Facebook Pay users in the US can also get real-time customer support via a live chat function that is available between 6am and 6pm.

For those concerned about privacy and security, Facebook gave assurance that payment information will be stored separately from account data and will not be used for advertising purposes. However, it did say that the actions you take with Facebook Pay can be used to deliver you targeted advertisements. “For example, if you buy a baseball glove on Facebook Marketplace, you might see an ad for a baseball bat,” said Facebook.

Currently, Facebook Pay is only available on Facebook and Messenger, so you will need a Facebook account to use it. However, when the feature rolls out to WhatsApp and Instagram as well, you will be able to set up Facebook Pay directly within each app. According to Facebook, you can choose to set up Facebook Pay app-by-app, or enable it for use across the available apps – although it is likely that your payment information and history will be integrated across the apps that have enabled the feature.

Along with its intention to roll out Facebook Pay to its other apps, Facebook said that it will be bringing this service to other countries over time. Do note that Facebook Pay is not to be confused with Facebook’s ongoing cryptocurrency venture, Libra, which faces an uncertain future after major companies like Visa and Mastercard
withdrew their support
 from the project last month.

(Source:
Facebook Pay
)

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What to Look for in an Internet Service Provider

An internet service provider provides internet service of course. But what comes with that, exactly? It’s important to know what the basic services of a good ISP should be so you don’t get swayed and end up paying for unnecessary extras. Let’s discuss the absolute essentials of an internet service provider and how to know you’re getting the right bang for your buck.

Download and Upload Speeds

This is the big one that people usually ask about. Knowing that speeds are 5Mbps or 30Mbps often doesn’t really give you a good sense of what you may need for your particular usage.

When making comparisons between different speeds ask your internet service provider the lowest recommended speed for the kind of usage expected in the place you want to use the service in. You can call them up and get the best speeds for the most affordable price that way.

Customer Support

Speaking of phonecalls, customer support is also an important factor when picking out an internet service provider. Remember that ‘service’ is a big part of the equation. If you’re not terribly tech savvy, the components that make your internet connection work can seem difficult to figure out on your own.

Trouble with connecting to the internet is common and having friendly and helpful customer support to assist you whenever you need them is extremely important. You can find out if they’re any good just by calling them up, or by going online and seeing how they handle customer complaints on their social pages.

Reliability and Availability

All of the above doesn’t really matter much if you can’t rely on the service or if it isn’t even available where you live. An internet service provider relies on cables and other infrastructure to deliver the connection to users, and if said infrastructure is not available in your region, your provider options become drastically limited.

Even when the services are available, you also have to consider how reliable the service is. Fast download and upload speeds mean little if the connection often drops out or you experience frequent latency. Check out local blogs or forums to suss out if an internet service provider is not as reliable as advertised.

Hardware

One sure-fire way to know if someone has internet access in their house is to look for a little robot with blinking light standing by himsel in a corner somewhere. These internet modems typically connect to a phone line or a fibre cable that leads outside.

Sometimes accompanied with a wireless router, sometimes the wireless router is built into the modem. In both cases, the device may sometimes be complimentary upon signing up with your internet service provider and in some other cases, a fee may be charged.

That’s all there is as far as internet service providers go. When you’re browsing around to look for which to choose from, make sure these four things are all accounted for. Often, service providers will offer extras like TV channels, devices, or other free knick-knacks, but remember that aside from what we’ve discussed above, these extras don’t really affect how your internet experience will be.

We hope you can better use this information to make the best and most financially responsible choice when it comes to choosing an internet service provider for all your online needs. While we’re on the subject, why not check out
how to be an international supershopper using the powers of the internet
?

Do you have your own tips on what to look out for when shopping around for an internet service provider? Do let us know in the comments section down below!

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6 things you must know about credit card terms and conditions

Do credit cards terms and conditions

confuse you? Don’t worry, you’re not alone. There are many who’ve applied for

credit cards without reading the terms and conditions and even more who

still can’t make head nor tail of the small print.

The good news is that most bank

contracts are written in a similar fashion and once you’ve familiarised

yourself with some key terms you’ll be able to sniff out all the important details.

These are some important points you’ll need

to look out for:

Credit limit

Take note of your credit limit as offered

by your bank and any penalty fee you may incur if you go over. Typically, most

banks will have a fee. The best way to keep track of your spending is to sign

up with an online statement service where amounts are reflected as soon as the

merchant charges your card. Note that some merchants take 3-4 days before

sending their credit card slips to the bank,  so some payments may not show

up on your statement the day you make a purchase.

Interest rates

You may be
attracted to your credit card because of its low interest rates
, but did you know that missing even one payment can bump your interest rate to highest possible tier

(usually 17-18%)? To ensure that your interest rates remain at the lowest

amount make it a point to pay at least the minimum amount on time every month.

Most banks will let you change the bill date if you need your statement to arrive closer to the day your monthly salary is paid.

Cashback

Cashback credit cards are seen as the ultimate money savers
. You should be aware that many cashback

credit cards come with either a monthly or annual cap. Cashback rates also vary

for different kinds of shopping categories. Having a good grasp of

how your cashback credit card works is important to reap the rewards. Of

course, avoid carrying a balance on a cashback card for maximum benefit.

If you spend a lot of money on your credit card every month you should know that some cashback credit cards offer unlimited rebates. The percentage unlimited cashback might seem small at 1% or less but if you’re charging business expenses to your card you can earn a small fortune in rebates.

Reward Points

Reward Points may not be as valuable to you as

cashback and most cards offer an either-or scenario – never giving you both. Nonetheless, some Reward Points programmes remain very popular with attractive gifts: if you’re a frequent flyer you need to know that
a few credit cards offer very good deals on earning airmiles
.

If you’ve chosen a Reward Points card because of other useful

benefits pay attention to how points can be accumulated, when they expire

and how to redeem them.

Fees and charges

Many credit cards charge an annual fee and all of them must impose a

government tax on you. There are ways to get these fees waived, either by using

your card a minimum amount of times in a year or by redeeming your reward

points. We keep
an updated list of credit cards that have no annual fee
, or that waive fees according to certain conditions.

Product Disclosure Sheet for your credit card

All banks are required by law to provide you with a Product Disclosure Sheet detailing fees and charges for your credit card. Bank Negara’s intent is that you should be able to read the Product Disclosure Sheet for your credit card and understand all of the key points covered by the Terms and Conditions you are being asked to sign.

Sadly, a lot of banks hide the credit card fees and charges on poorly designed and out-of-date websites leaving you, the customer, with a tough job to find the things you must know before you can choose the right credit card. That’s why we started RinggitPlus, to help you find the information you need about banking products quickly and easily.

If you can’t find the answer to your question here on our website
just send us an email, we’d love to hear from you
 and help you.

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PTPTN Declares 3% Dividend For SSPN Depositors For 2021

(Image: Bernama)

The National Higher Education Fund Corporation (PTPTN) has declared a dividend of 3% for the National Education Savings Scheme (SSPN) for 2021. It is slightly lower in comparison with the
dividend announced for the previous year, which had settled at 4%
.

According to the chairman of the PTPTN, Datuk Wan Saiful Wan Jan, the distribution of the dividend for 2021 will come up to an estimated amount of RM206.25 million, benefitting 5.24 million SSPN depositors. Depositors can check their dividend on their statements through the
official PTPTN portal
 from 25 February 2021 (Friday) onwards.

Datuk Wan Saiful also explained that the dividend paid out is based on the net returns on investments made on deposits received by PTPTN. Specifically, PTPTN earned profit on SSPN investment deposits amounting to RM267.61 million – which is a 12.72% increase from the RM237.42 million saw back in 2020.

(Image: The Sun Daily)

“The dividend given is still competitive compared to the current account profits and fixed deposit (rates). It also takes into account that PTPTN is only permitted to invest in limited markets and sukuk markets,” Datuk Wan Saiful said with regard to the scheme’s performance, adding that the country’s volatile economy also had an impact on its investments. He then stressed that the PTPTN will continue to diversify its efforts so that it can achieve better results in the upcoming years.

Datuk Wan Saiful further emphasised that on top of the dividend, depositors are also entitled to several other benefits via their SSPN savings. These include tax assessment relief of up to RM8,000 a year and takaful coverage.

Aside from announcing the dividend for SSPN, Datuk Wan Saiful also shared some latest updates regarding the scheme. He said that SSPN had seen a collection of RM3.01 billion in 2021, which was the highest since the establishment of PTPTN. In fact, it was 51.26% higher than the RM1.99 billion collected in 2020. Meanwhile, the total SSPN collection stood at RM10.88 billion as of 31 December 2021.

Datuk Wan Saiful also commented that 421,281 new SSPN accounts had been opened in 2021 – which is higher than its target of 400,000 new accounts per year. “As at 31 December 2021, a total of 5.24 million accounts had been opened since SSPN was introduced in 2004,” he said.

(Sources:
The Edge Markets
,
Malay Mail
)

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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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    Lai hon sen

    1 year ago

senlai

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    Calvyn Lee

    1 year ago

seem like they try to take advantage on depositors

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MASwings Will Reinstate Flight Frequencies In Stages

Malaysia Airlines’ (MAS) subsidiary MASwings has announced that it will gradually revert from its current schedule of reduced frequencies and temporary suspended flights back to a normal schedule, as per the Public Services Obligation (PSO) Agreement. This follows the implementation of the recovery movement control order (RMCO), which replaces the conditional MCO (CMCO).

The reinstatement of the normal schedule will be carried out over four phases, starting from 10 June 2020 to 27 March 2021:

First stage (ongoing)
: Until 30 June

Second phase
: 1 to 31 July

Third phase
: 1 August to 26 October

Fourth phase
: 27 October 2020 to 27 March 2021

According to MASwings, the decision to implement a gradual reinstatement is due to the lack of significant growth in air travel demand within East Malaysia despite the relaxed travel restrictions during the RMCO.

“Nevertheless, looking at the forward bookings in hand over the next six months and in anticipation of greater passenger movement as more businesses and tourism-related industry start operations, MASwings has decided to reinstate its flight frequencies gradually over four phases,” said the flight operator.

MASwings’ planned schedules for the whole of Sabah and Sarawak are cleared and supported by the Transport Ministry. However, the flight operator said that it is also ready to review its plans from time to time to meet the demands of its customers.

During the MCO that began in March, MAS had grounded most of their fleets and temporarily suspended flights, including MASwings. Subsequently in April, the national carrier agreed to
resume flight services
 between East and West Malaysia. This saw MASwings getting back in service to provide connecting flights between Miri and Bintulu, Kuching and Sibu, and Sibu and Bintulu.

To find out the latest updates on
MASwings’ flight schedules
, head on over to its website.

(Source:
Malay Mail
,
The Star
)

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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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Health Ministry Considers Medicine Price Control

Medicines in Malaysia are not price controlled. As pointed out by Deputy Health Minister Dr Lee Boon Chye, this has led to the price of medicines increasing every year, which in turn affects the affordability of healthcare. According to Dr Lee, the Health Ministry will address this by looking into a price control mechanism for medicines.

“We will discuss this with the Ministry of Domestic Trade and Consumer Affairs for urgent attention although there are many aspects and factors that need to be considered and scrutinised beforehand,” said Dr Lee, after visiting the Pharmacy Services Programme under the Pharmaceutical Services Division of the Health Ministry today.

Earlier on 6 July
, Health Minister Dr Dzulkefly Ahmad also said that the Health Ministry intended to address the issue of the government not currently having any power under the law to regulate the prices of drugs supplied in the private sector.

Dr Dzulkefly was asked if the government was planning to regulate the prices of drugs following calls by the Malaysian Pharmaceutical Society (MPS) and Third World Network for the government to regulate the prices of drugs. The two bodies made the requests following claims that the prices of medical supplies were being monopolised by high-ranking parties and international pharmaceutical parties.

In response, Dr Zulkelfly said to “wait for the Pharmacy Bill.” This Bill, which was first proposed by the previous government, would likely require further deliberation by the new Health Minister before it is tabled in Parliament.

(Source:
New Straits Times
)

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Brokeback Budgeting: Life Hacks for Leaner Months

If you clicked this link hoping to read some steamy cowboy cash secrets; we’re sorry to disappoint you. We’re talking about the other kind of ‘brokeback’: the kind where you break your back slaving at a job and still find yourself broke on the 15
th
 of every month.

There are many reasons you could be broke this month (or for the past few/coming months). Perhaps you had a medical emergency; a stalled lemon of a car or maybe you did some overzealous shopping during the mega sale; hey, we’re not here to judge you. There may also be the possibility that your broke situation may continue a little longer than just a month. It could be a suddenly increased rental or an additional dependent you didn’t foresee. Again, life is filled with the unexpected and there’s really no sense crying over spilt money.

It doesn’t matter how you got here – let us help you get out.

For Short Term Shortfalls

If it is just a one-off emergency or a single lapse of self-control at the malls which landed you in this situation; take heart that the following measures will be temporary and sooner rather than later you should (unless another mishap has landed you back at one: at which point, rinse and repeat boys and girls) find yourself back in monetary good health.

Here are some of the tried-and-true measures of the broke everywhere when budgeting.

1. You still need a budget.
 Sorry, we know the sum you have in your pocket may at present look pathetic on paper and the last thing you want to do is mess up your glorious excel sheet of hearty, perfectly rounded numerals with something that looks like it came out of a standard three pupil’s
555 allowance notebook
; but you still must. That’s why the title is brokeback budgeting and not… er brokeback avoidance or something like that. Why do you still need a budget?

As broke as you are, you need to know exactly how much you have to your name so you can prioritise accordingly. Pen it down: Draw up the good old list of what you have coming in and what needs to go out. Once you’ve done that – we can see the deficit and remedy it!

2. Identify how short you are
 (money we mean. Your gravity centre isn’t as important to budgeting as it is to dating). As painful as the picking of a scab: you must now calculate how short you actually are to meeting all your monthly bills and expenditure. RM500? RM1,000? Don’t be afraid of the figure you come up with; knowing is better than not to deal with the situation at hand.

3. Start cutting out payable items.
Yes, you read right. This isn’t a permanent solution, mind and you should repay all your bills in full when you can but right now, desperate times call for desperate measures. Many bills such as utilities, phone and internet can be accumulated for up to three months without your service being terminated, so see if you can stave these off for a month.

Although interest rates are high, you can also opt to skip your credit card payments for a month if necessary.
WARNING!
Some credit cards will then require you to pay twice the minimum payment the following month so be sure to allocate enough for that. Also, take note of the high charges involved in delayed credit card payments and don’t make a habit of this!

Depending on how broke you are, there are usually only 3 non-negotiable items in your monthly spend list: food, transport to work and rental/housing. You need these three to survive; the rest can wait a month.

4. So broke it hurts.
 So you know what the non-negotiable items are; what if you’re shortfall is so serious that you can’t even meet these 3? Don’t panic! Call your landlord/bank! Explain the situation and ask if you could pay half or defer payment for a little while. If you aren’t making a habit of this – there is a good chance they may cut you some slack.

5. Put in the overtime.
Can’t cut anymore but still falling short? Time for some additional work! Could you take on quick part-time or freelance jobs to plug the gaps? Perhaps you could take on additional tasks at work for overtime pay. If none of these are available to you; consider selling something. The online marketplace is a great way to unload items you no longer use for extra cash. It’s tedious and time consuming but if you really need the money – it’s worth a shot!

6. Beg, borrow but please don’t steal.
Tried
a personal loan
 from a bank (please no ah longs!) or even from a close friend? The notion of borrowing isn’t pleasant but if all else fails, it’s an option.

7. Budget for coming months.
 Why do you need to do this? Your commitment avoidance this month will definitely end up hurting your future cash flow. To know just how much, it’s a useful move to budget now for a few months in future to see how long this one month of lack is going to affect you.

For Long-Term Lacks

Sometimes, being broke is a life-long love affair. Well, maybe not quite that long. But what if your situation is caused by something a little more long-lasting like an increased rental or added insurance payments for an elderly relative/parent? It’s unlikely we can march up to our bosses and demand a raise – we’ll have to meet the shortfall somehow.

Here’s the step-programme in such a situation.

1. Again, budget, budget, budget.
Make a new budget with the new rates and calculate your shortfall.

2. Honestly analyse your situation.
 Is the shortfall minimal enough to be remedied by some lifestyle changes like lesser entertainment spending, cooking at home or cutting a subscription? Or is it larger? If it’s the former, you can stop reading now; cut down your latte spends and the unused subscription to Her World/CLEO/FHM. You’ll be just fine. You can find half the content online anyway (including the FHM women in bikinis! Or so we heard… ahem…).

3. Look into drastic.
 If you’re really struggling, perhaps it’s time for a larger overhaul. If your rental has sky-rocketed beyond your reach, consider moving, sub-letting or sharing with a friend/relative. If it’s a nursing care bill or new baby cost, look into welfare initiatives or cheaper alternatives to the care you have selected. The possibilities, depending on your predicament are actually endless but not many will be pleasant at first.

The answer may even lie in a higher paying job but all this will depend on the specifics of your financial woes. The point ultimately being made here is; don’t fear change. Sometimes, you need to embrace some drastic measures for the greater good.

4. Ask for help.
 Again, depending on the how dire your situation, you could either ask advice from a friend; a raise from your employer or credit restructuring from
AKPK
.

5. Create long-term solutions.
 If your issue is definitely long-term, seek a solution that is too. Borrowing money to fill the gaps now will only haunt you in future. There is nothing quite as scary as financial ruin.

Getting Back in the Saddle and Staying on

Once you’ve passed the hurdles of being broke, you may find yourself becoming complacent. But the trick in personal finance isn’t just mounting the steed but staying on when the road gets a little bumpy. Make sure once you are out of the red zone; that you make definite and concrete plans never to land there again. It’s not to say you won’t ever fall off – it’s just prevent you spending more time on the ground than riding through life.

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Why  Use Your Debit Card Instead of Cash?

If you think cold, hard cash is always the better payment option, you might want to rethink that. While there’s no denying that having cash on you at all times is important for your everyday transactions, there are a few areas where your Ringgit notes are no match for a debit card.

In case you’re wondering what a debit card is, it’s a card issued by your bank for you to make payments as well as cash withdrawals with. Never underestimate your debit card, it often offers a huge range of perks and benefits to help you get more from your cash.

Here are some of the advantages of using a debit card;

It’s Accepted by Participating Stores Worldwide

When you travel overseas, it isn’t advisable to have too much cash on you. The reason is pretty obvious – you might end up losing your wad of foreign notes while enjoying the exotic scenery.

You Get to Enjoy Special Discounts & Privileges

Shopping with cash doesn’t always guarantee you savings, but a debit card often offers discounts and privileges when you shop at selected shops and eateries.

Of course, each bank offers different perks and privileges, but by keeping yourself updated on the promotions and discounts offered by your bank, you can save a whole lot more compared to shopping with cold, hard cash!

You Have the Opportunity To Earn Cashback

What better way to save your hard-earned money than by taking advantage of reward points and cashback? Certain debit cards such as
KFH Debit Card-i
 offers 10% cashback on your first retail spend transaction for new cardholders, and 0.5% cashback on all subsequent retail spend transactions!

It Comes with Improved Security Features

Some may be skeptical about using a debit card for fear of identity theft or fraud cases, but the current technology has greatly improved the security features for debit card purchases.

For example, you can now easily set a purchase or cash withdrawal limit to your debit card. Also, all retail purchases now require you to input your 6-digit PIN number for maximum payment security.

Some cards such as
KFH Debit Card-i
 even come with SMS transaction alerts to your registered phone number each time you make a purchase or transaction, so that you’ll always be alerted when an unidentified transaction is made.

You can Perform Contactless Transaction

Have you ever wished you could buy your coffee and breakfast in the morning without having to use cash? Or perhaps skip through the whole entering-your-card’s-PIN-number each time you pay with your card?

A debit card with contactless transaction feature allows you do exactly that – just tap your card on the payment terminal and you get to enjoy your purchase instantly!

Other than helping to eliminate the early morning rushing-to-work routine, it helps to make your shopping experience faster and convenient. As an added protection, the contactless transaction typically comes with a purchase limit which allows you to customise your retail purchase limit whenever you so choose.

If you’re a
KFH Debit Card-i
 cardholder, you can reduce the limit or turn-off the contactless transaction function.

Does This Mean You Should Ditch Cash and Only Use Debit Card?

Of course not, the saying ‘cash is king’ has its truth. Physical cash is always needed for our everyday use, but when you’re making big purchases at retail stores or the supermarket – or even when you travel – it makes sense to use your debit card so you can benefit from its money saving perks

You can get a supplementary debit card for your spouse, children, parents, or even one for your maid. Also, if you swipe your KFH Debit Card-i from 15th July to 14th October, you stand a chance to win a Samsung Galaxy S8! All you need to do is swipe your
KFH Debit Card-i
 at least 3 times on retail transactions during the campaign period and be in the running to win an exclusive Samsung Galaxy S8.

Find out more information on
KFH Debit Card-i
 and their exciting campaign on their
website
 today!

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The Track-O-Matic, learn to track your spending the fun way!

James Cunningham
, the voice actor behind the video, explains to us why it is important to track your spending with the Track-O-Matic. In addition, the examples he gives are situations that many of us take for granted. If only we paid more attention to our spending, we would be saving so much more.

If only such a gadget exists (minus the electric shocks of course), we would see our savings grow and be more financially savvy!

Have a great weekend and remember to track your spending!

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Maybank Enables Secure2u For MAE App Starting From Tomorrow

Maybank has said that it will enable the Secure2u feature for its MAE by Maybank (MAE) app, effective 24 April 2021 (that’s tomorrow!). With this, Maybank customers will no longer need to keep both the Maybank2u and MAE app installed in their phones for payment verification purposes.

“Secure2u will soon be available on the app to give you a seamless banking experience. Effective 24 April, you’ll be able to approve all Maybank2u web, Maybank2u MY app and MAE app transactions via Secure2u on MAE!” said the bank in a message on its MAE app. For context, Secure2u is a payment verification feature that allows Maybank customers to authorise their transactions, used as an alternative to the SMS TAC – which was
gradually phased out by the bank
.

Although Maybank has endorsed Secure2u as a safer and more convenient authentication method, the feature was previously made available only on the Maybank2u app. This meant that customers who wished to use the bank’s new MAE app were still required to keep the old Maybank2u app just for payment verification purposes. This has been a matter of inconvenience for customers for a while now, especially since Maybank also revealed that the Maybank2u app is slated to be
replaced by the MAE app
. This latest update is expected to resolve this.

Following this latest update, MAE app users will have the convenience of approving all their online transactions via the Secure Verification method, where you need to tap on an “Approve” button to verify the payments. The MAE app will also become the default app for all Secure2u approvals starting from tomorrow. Existing MAE app users will be prompted to either log in again or register for the feature, whereas new MAE app user are required to sign up for an account to enable Secure2u.

You can find out more about this update on the bank’s FAQ on the
MAE app
 and
Secure2u
 here.

(Source:
Maybank
)

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Gibraltar BSN To Offer Insurance Products On VSure.Life's Digital Platforms Via Partnership

Gibraltar BSN Life Berhad has entered into a partnership with insurtech company VSure.life, which will allow the insurer to offer selected insurance products on VSure.life’s digital platforms, including website and mobile app. With this, it is hoped that Malaysians will be able to access Gibraltar BSN’s offerings with less hassle.

Through this collaboration, Gibraltar BSN will make available three existing digital products on VSure.life’s platforms, namely i-Protect, i-Care, and i-Med:

Insurance product
s
Basic details
Key benefits
i-Protect
Critical illness coverage plan with premium starting from RM7.60 per month
Coverage of up to RM500,000 for three critical illnesses (cancer, stroke, and heart attack)
i-Care
Term life insurance plan with premium starting from RM9.75 per month
– Death benefit of up to RM500,000
– Total and permanent disability benefit of up to RM500,000
– Additional accidental death benefit of up to RM250,000
i-Med
Medical card plan with premium starting from RM41.85 per month
Annual limit of up to RM90,000 to cover hospitalisation and medical bills

The chief executive officer of Gibraltar BSN, Lee Kok Wah said that the partnership will contribute to the insurer’s vision to become Malaysia’s “community protection champion”. “Our latest partnership with VSure.life perfectly complements both our companies’ goal of making life insurance more accessible to Malaysians from all walks of life, and we are thrilled with the potential of expanding our online business while deepening insurance penetration in the country,” he said.

Meanwhile, the founder, managing director, and chief executive officer of VSure.life, Eddy Wong commented that this collaboration is yet another way to provide innovative protection solutions to the public. “One of VSure’s main goals has always been to enable more affordable and accessible insurance protection for the masses, and this partnership takes us another step closer, going beyond insurance to pioneering financial protection, inclusion, and helping increase the social safety net to the masses,” he stated.

VSure.life is the first digital insurer to
obtain approval from BNM to offer on-demand insurance and protection plans
 for the public. Aside from Gibraltar BSN, it has also partnered with several other insurers, including FWD Takaful and Allianz.

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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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