Best Credit Cards For Movie Promotions In Malaysia

Did you know that there are credit cards that offer you deals and discounts on movie tickets?

Whether you’re looking for a new credit card that helps you save on entertainment expenses or just interested to see what promotions there are floating around, here are some of the best credit cards to use when going to the movies in Malaysia.e when going to the movies in Malaysia.

UOB YOLO Credit Card

Deal:
RM5 for normal adult tickets
 on Fridays at GSC

Validity:
Until 3 April 2020

Minimum income requirement:
RM36,000 per year

Annual fee:
 RM90 (first year free), waived with 12 swipes per year

The UOB YOLO Credit Card definitely offers the cheapest price for a normal adult ticket on this list. UOB YOLO cardholders get up to two tickets at the RM5 flat price when they purchase normal adult tickets from GSC on Friday.

UOB has a cap of 330 tickets at the promotion rate each Friday and cardholders will have be entitled to them on a first come, first serve basis.

Unlike a number of the other promotions offered for cinema tickets, the UOB YOLO offer is not only restricted to movies showing on the same transaction day.

As long as you purchase the ticket on Friday, you’re eligible for the RM5 price – the movie doesn’t necessarily need to be showing on Friday as well.

As this offer is valid through the GSC website or mobile app only, this makes it even more convenient for cardholders to score cheaper tickets a little bit in advance.

By the way, the UOB YOLO isn’t only just good for really cheap movie tickets. It’s a

rewarding cashback credit card
, particularly for
online shopping
 – this means you’re entitled to cashback for your online movie ticket purchases in addition to the flat rate promotion.

Citi Clear Credit Card

Deal:
1-for-1 standard movie tickets at GSC
 and TGV on Fridays

Validity:
Until 31 March 2020

Minimum income requirement:
RM24,000 per year

Annual fee:
RM90 per year (free for the first three years)

Buy one standard ticket using your Citi Clear Credit Card and you’ll get a second ticket for free.

For movies at GSC, tickets have to be bought through its online website or mobile app to be eligible for the buy-one-free-one offer, whereas TGV tickets must be bought over-the-counter.

Each cardholder is entitled to one set of 1-for-1 tickets and the transaction day must be the same as the movie screening day.

This promotion is only valid for standard tickets in a common cinema hall, but it’s rewarding because there is no cap on the total number of 1-for-1 tickets Citibank gives out on a given Friday.

Moreover, the deal can be used at both GSC and TGV outlets, while most other cards only offer for one cinema.

Standard Chartered JustOne Platinum Card

Deal:
RM10 for normal adult tickets
 at GSC after 1pm every day (except Wednesday)

Validity:
Until 28 February 2020

Minimum income requirement:
RM36,000 per year

Annual fee:
RM250 (first year free), waived with RM20,000 annual spend

The Standard Chartered JustOne Platinum Card gives you a flat rate of RM10 per ticket for movies showing after 1pm every day except for Wednesday (Previously, Standard Chartered ran this promotion for tickets at a flat rate of RM7).

You are entitled to buy up to two standard tickets at this discounted price. The offer is only valid for same-day purchases and for tickets purchased through the GSC website or mobile app.

Although this deal is generous in that it’s valid for six out of seven days in a week, it is only available for 149 tickets on a first-come-first serve basis each day.

So, there’s a chance that you might not be able to score tickets at this price if the quota has been reached.

That said, the Standard Chartered JustOne Platinum Card isn’t just good for buying movie tickets – it is one of the better

cashback credit cards
 in the market.

Hong Leong GSC Credit Card

Deal:
RM6 off
 on all movie tickets at GSC every day (except Wednesday)

Validity:
Ongoing

Minimum income requirement:
RM24,000 per year for Gold; RM60,000 for Platinum

Annual fee:
RM150 per year for Gold
;
RM300 per year for Platinum

Unlike other credit cards which offer movie promotions as just part of their wider benefits, this entire credit card has been designed for movie-goers in particular.

The Hong Leong GSC Credit Card offers GSC movie ticket deals, discounts on snacks and drinks, and its own GSC Reward Points scheme.

Cardholders get RM6 off all movie tickets at GSC every day except for Wednesdays for all halls and types of movies, including GSC Signature and Gold Class screenings.

This discount is only valid for tickets purchased via GSC website or mobile app and is capped at three transactions per day..

Spend Categories

GSC Reward Points Multiplier

GSC spend

3x

Overseas spend

3x

Online spend

3x

Other retail spend

1x

Accumulative on other retail spend equal or above RM1,000 in a calendar month

Extra 1x

You can collect reward points when you spend using the Hong Leong GSC Credit Card as seen in the table above.

200 rewards points amount to RM1 in value, which can be used to claim movie tickets for 2D, Premiere, Gold Class, and other non-standard tickets. The Hong Leong GSC Credit Card comes in two editions, Platinum and Gold.

New Platinum cardholders are granted 10 free GSC tickets whereas new Gold cardholders will receive 5 free tickets as a card approval bonus – however only those who don’t already have an existing Hong Leong Bank credit card are eligible to receive this offer.

Standard Chartered Visa Infinite Credit Card

Deal:

Buy 1 get 1 free
 for Gold Class or Premiere Class tickets at GSC on Fridays to Sundays

Validity:
 Until 1 March 2020

Eligibility:
 By invitation only

Annual fee:
RM800 (first two years), waived with RM10,000 annual spend

Every Friday, Saturday, and Sunday, you can buy one normal adult Gold Class or Premiere Class ticket and get one free.

This offer is open to Standard Chartered Visa Infinite cardholders or anyone with a Standard Chartered Priority Banking debit card – so this isn’t exactly a promotion that can be taken advantage of by the masses, but a good thing for existing cardholders to be aware of.

Cardholders are entitled to a maximum of 1 free ticket per transaction per day and can purchase the tickets through the GSC website or mobile app.

There is no capping on the overall amount of tickets on offer. However, do look out for some of the fine print: for example, the offer is not applicable when the Gold Class Privilege option is selected (this gets you a hot beverage and a blanket).

Citi Prestige Credit Card

Deal:

1-for-1 Gold Class tickets
 at GSC on weekends and public holidays

Validity:
Until 31 March 2020

Minimum income requirement:
 RM200,000

Annual fee:
RM1,000

Every Saturday, Sunday, and public holiday, Citi Prestige cardholders get a buy one free one deal for Gold Class tickets at GSC.

Each cardholder is entitled to a maximum of two free tickets to be redeemed per card per day. As usual for credit card promotions at GSC, the tickets must be purchased through the website or mobile app to be eligible.

Given its minimum income requirements and annual fee, you probably wouldn’t be getting the Citi Prestige Credit Card just for its movie promotions.

Still, getting buy-1-free-1 Gold Class tickets definitely is a sweet perk for those who are accustomed to the premium life.

Unlike the Standard Chartered Visa Infinite, there’s no restriction against selecting the Gold Class Privilege with this offer – so you can enjoy your promotion with your hot beverage and blanket too.

HSBC Credit Cards

Deal:
RM8 for Standard seats and RM9 for VIP seats
 from Fridays to Sundays at MBO

Validity:
 Until 31 April 2020

HSBC cardholders can enjoy a flat rate of RM8 movie tickets for Standard seats and RM9 for VIP seats from Fridays to Sundays at all MBO cinemas nationwide.

Tickets must be purchased over the counter to be eligible for the discounted price and the flat rate is applicable for same day purchases only.

The promotion is applicable for all 2D and 3D Adult Standard/VIP seats in standard halls, excluding Premier viewings and couple seats.

Each cardholder can purchase up to a maximum of 5 tickets per transaction per day. The offer is limited to the first 2,800 tickets per month every Friday, Saturday, and Sunday.

Maybank Credit Cards

Deal:
50% OFF Standard* and IMAX® movie tickets on Saturday
 and more!

Validity:
Ongoing

Maybank Mastercard, Visa, and AMEX credit or debit cardholders are entitled to cheaper tickets at TGV every day of the week, in addition to concession and dining discounts. The All Day Ticketing Privileges is as follows:

50% OFF Standard* and IMAX® movie tickets on Saturday

RM8 Standard and Deluxe movie tickets on Monday

RM20 IMAX® 2D movie ticket from Sunday to Friday

RM24 IMAX® 3D (with glasses) movie ticket from Sunday to Friday

RM35 INDULGE movie ticket from Monday to Friday

RM45 INDULGE movie ticket on Saturday and Sunday

*Limited to first 5,000 redemptions of Standard movie tickets nationwide

Cashback Credit Cards

Deal:
Percentage of cashback on cinema tickets

Validity:
Ongoing

Not all credit cards offer deals on movie tickets through promotions or flat-rate prices. You can also save money on movie tickets by earning credit card cashback on your expenditure.

For example, the
UOB One Card
 offers 8% cash rebate at GSC ticket counters on weekends. For weekdays, you only get 0.2% worth of rebate from the UOB One Card (it was previously set at 2% for weekdays).

There is no cap on cashback for cinema expenditure using this credit card. Of course, another reliable cashback option would be the
Maybank 2 Credit Cards
 – the American Express card offers 5% cashback on retail spend.

Earning cashback is beneficial especially if you tend to splurge on the pricier seats at higher-end cinema halls such as GSC Gold Class, TGV LUXE, and the rest.

If you’re curious to see what we thought about
premium cinemas in Malaysia
 and whether they’re worth your money, you can read about it in our review.

Best Credit Card For GSC Promotions

When it comes to movie promotions at GSC, you won’t find yourself short of credit card options. The
UOB YOLO Credit Card
 and
Citi Clear Credit Card
 are reliable options for cheap tickets on a Friday; furthermore, the UOB YOLO doesn’t limit you to the same-day screening rule.

If you’re after a credit card that will give you deals on every day of the week (except for Wednesday), then you can get the
Standard Chartered JustOne Platinum Card
or the
Hong Leong GSC Credit Card
.

Meanwhile, the
UOB One Card
’s
 cashback is great for those who like to watch movies on the weekend.

Best Credit Card For TGV Promotions

If you have a
Maybank credit card
, you should definitely consider scheduling your movie dates at TGV on Saturdays and Mondays for the best deals on standard tickets.

You can get IMAX and INDULGE tickets for cheaper prices thanks to your Maybank credit card as well.

Besides that, the
Citi Clear Credit Card
 is actually the only credit card here that offers its movie deal for both GSC and TGV – however, at TGV you will need to use it over-the-counter to get the 1-for-1 price.

Best Credit Card For MBO Promotions

There aren’t as many promotions available when compared to GSC and TGV, but
HSBC credit cardholders
 can enjoy a flat rate of RM8 movie tickets for Standard seats and RM9 for VIP seats from Fridays to Sundays at MBO cinemas.

Best Credit Card For Premier Class Movies

If what you are looking for is a discount on premier-class movie tickets, then we’ve got you covered as well.

You can get buy-one-free-one deals for Gold Class or Premiere Class tickets at GSC on Fridays to Sundays with a
Standard Chartered Visa Infinite Credit Card
 and 1-for-1 Gold Class tickets at GSC on weekends and public holidays with the
Citi Prestige Credit Card
.

Never Pay Full-Price For A Movie Ticket Again

With all these cinema-related promotions available, it wouldn’t be too hard to secure yourself some cheaper tickets if you’ve got the right credit card.

The Hong Leong GSC Credit Card would be best for the most frequent GSC patrons, but if you’re just looking to save some money for your movie outings, you could opt for a credit card which has other non-cinema related benefits too.

Each credit card’s promotions are also valid for different periods, methods of purchasing, and cinema outlets, so you would have to see which is best suited to you.

Remember, to make your search for the right credit card easier, you can always use our

RinggitPlus credit card comparison tool
 and apply for your next credit card all in one place.

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Save More This Raya Holiday With These Tips

Everyone has a few staple celebrations that they look forward to in a year and for many Malaysians, Raya Aidilfitri is one of them. As much as we anticipate such festive occasions with excitement, planning for them can get very costly. In the euphoria of merry-making, we tend to become more ‘generous’ with our money and spend way over our budget only to realise the financial damage done later on when it’s too late.

In addition, after a challenging couple of years, many people might take advantage of the reopening economy to plan for trips with family and friends or home upgrades this Raya, incurring further costs along the way.

So, if you’re looking to save some ringgits this Raya without compromising too much on celebration, here are a few areas that you can look into while preparing for all the festivities.

1)
Make the most of
baju Raya
 shopping

While not everything has to be brand new for Raya, shopping for clothes or house decorations certainly adds to the celebratory mood. Fortunately, there are still ways to save up a few ringgits or even earn some extra in the process of shopping for Raya.

For starters, you can use your cashback or rewards credit card that lets you earn cashbacks or points when you spend. This way, you can shave some ringgits off your purchases or if you’ve accumulated enough points, you can even redeem gifts like shopping vouchers, electrical goods, and more which can come in handy during Raya.

It’s also important to be aware of the terms and conditions of your credit cards to plan your spending well and benefit fully from rewards. Find out if there is a limit for the monthly cashback earned, types of purchases, period of purchase, and more. For example, some credit cards only let you earn cashbacks for purchases during the weekends so you would have to schedule your shopping on Saturdays and Sundays.

2)
Plan your
balik kampung
 trip early

There are a few times in a year when we couldn’t avoid spending more than usual whether it’s a birthday, anniversary, or festivity like Raya. However, as such occasions tend to happen around the same time every year, we can plan for them ahead of time.

For example, if you’re ready to travel this Raya, arrange your flights and accommodations early on as last minute bookings could incur extra costs. Avid travellers might notice that sometimes, the prices of flights and hotels on booking platforms might increase as it gets nearer to the travel date. On the other hand, if you will be driving, try to avoid peak hours or schedule your ‘balik kampung’ trip a few days earlier so you could save on fuel and money.

3)
DIY your
kuih Raya
 and gifts

Food is a focal point when it comes to celebrations in Malaysia and nothing brings out the Raya festive spirit more than the colourful array of cookies or dishes that make their special appearances only once a year. However, buying Raya cookies could get quite expensive perhaps due to the higher demand during the festive season.

Rather than purchasing ready made cookies, why not rope in the entire family for a baking session to make your own and create memorable moments with them along the way? With the advancement of technology and more people getting creative with their baking, you might even find new recipes online that are easier to make with an air-fryer or require fewer ingredients.

Raya shoppers can also take note of the Keluarga Malaysia Sales Programme (PJKM) that has been extended to June where
grocery items such as cooking oil, sugar, flour and more
offered are up to 20% cheaper
 than local market prices in selected locations.

4)
Get value-for-money Internet package

Every year, when a huge festivity like Raya comes along, we think of ways to spruce up our homes to ensure that our family and visiting guests would be at their most comfortable. Whether it’s watching classic films, playing video games, or video-calling your loved ones, it’s important to have a strong Internet connection so everyone can enjoy every moment without interruption. With that, we have some good news for those looking to get fast Internet at an affordable price this Raya.

TIME Internet is currently running a special promotion whereby everyone who signs up for the TIME Fibre Home plan will enjoy their first month for FREE. There are 3 plans to choose from offering speeds of 100Mbps, 500Mbps, or 1Gbps over a period of 24 months. Subscribers of the 500Mbps and 1Gbps plans will also receive FREE mesh WiFi, which ensures that every corner of your home has wireless high-speed WiFi.

Below are the packages on offer:

If you’re looking for a discerning 8K TV and high-powered gaming experience, the 1Gbps plan offers one of the highest download speeds in Malaysia using fibre-optic technology. Meanwhile, the 500Mbps plan allows for smooth 4K streaming and sharing of large files in a flash. Both 1Gbps and 500Mbps plans come with a WiFi 6 router which easily supports up to 10 devices, perfect for when friends and family come to visit this festive season. Alternatively, the 100Mbps Internet speed plan is adequate for web browsing and HD streaming for up to 5 devices.

Having a stable and fast Internet connection is essential these days. More people are staying home for work, studies, and even leisure as many might still be wary of leaving home frequently amid the pandemic. It’s only natural then that multiple people would be hooked to multiple devices in one household at the same time with some performing heavy-duty tasks that we used to reserve only for the office prior to the pandemic. In addition, almost everything we do involves digital technology nowadays such as paying your bills, ordering lunch, and buying groceries.

With a strong Internet connection, everyone gets to complete their tasks smoothly during the day and enjoy their downtime to the fullest without having to waste their time waiting for files to download or your videos to unfreeze. TIME Internet has been Malaysia’s most consistent broadband since 2020, according to Ookla, the company behind Speedtest, a global broadband speed test platform. Based in Malaysia, TIME Internet provides 24/7 support to every subscriber via phone, chat, and its all-in-one app, TIME Internet App. Through the app, you can manage your account digitally, from optimising your home WiFi via its Control Hub to paying your bills quickly and securely, so you can stay safe at home.

***

With the Raya festival just around the corner, we hope that these financial tips we have summed up here could help you save a few ringgits as you make preparations for this year. If you’re looking to upgrade your home this Raya, a high-speed Internet package for an uninterrupted online experience may be worth the investment and the gift your loved ones are looking for.

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CIMB Introduces Its First Fully-Digital Islamic Savings Account, OctoSavers Savings Account-i

CIMB Bank and CIMB Islamic Bank have rolled out their first fully-digital Islamic account, dubbed the CIMB OctoSavers Savings Account-i. Presented along with a new CIMB Octo Debit Mastercard, the account is intended to offer a more convenient onboarding process for CIMB customers, along with opportunities to win instant rewards.

According to CIMB, the application to open an OctoSavers Account-i can be done entirely on its digital platforms. Specifically, new customers who do not hold any current or savings account with CIMB can open the account through the CIMB Apply app, whereas existing customers with a savings or current account can do so via the CIMB Clicks website. The verification process will then be carried out based on Bank Negara Malaysia’s (BNM) electronic-Know-Your-Customer (eKYC) guidelines.

CIMB further clarified that the new account is not open to all customers; it is currently unavailable for existing CIMB loan and financing customers. These customers are required to apply for other CIMB savings accounts instead. Meanwhile, the Octo Debit Mastercard will be delivered to you through post to offer a truly branchless experience.

Aside from the fully digital onboarding process, the new account is also unique in that it offers the opportunity to earn OctoPoints by accomplishing monthly OctoChallenges and surprise OctoMissions. The accumulated OctoPoints can then be used to redeem instant rewards, such as vouchers from various e-commerce platforms – including Shopee, Zalora, Grab, and Lazada. These challenges and rewards will be managed within the CIMB Clicks mobile banking app.

On top of that, accountholders are also entitled to a waiver on the annual fees of the Octo Debit Mastercard – although CIMB did not clarify if it is a temporary or lifetime waiver.

In launching the OctoSavers Account-i and the Octo Debit Mastercard, the chief executive officer of the group consumer banking for CIMB, Samir Gupta said that both products mark a significant milestone for the group’s digital journey. He further said that the launch is timely, especially since the current environment has accelerated digitalisation efforts across the nation.

(Image: The Star)

“The pandemic has not only fast-tracked our digitisation initiatives but also accelerated our efforts in charting an optimum, seamless, and safe user experience, for the benefit and convenience of our customers. We look forward to offering more innovative digital banking and shariah-compliant solutions that are able to meet the customers’ on-the-go banking requirements online,” said Samir in a statement.

If you’re interested to check out
CIMB’s new OctoSavers Account-i
, head on over to the bank’s website.

(Sources:
CIMB
,
The Sun Daily
)

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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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AirAsia Reverts To 7kg Cabin Baggage Allowance Rule After Social Media Backlash

AirAsia seems to have made a U-turn on its revised baggage policy, which was meant to reduce its cabin baggage allowance from 7kg to 5kg as a Covid-19 safety measure.

In an email sent to its customers on Sunday evening, AirAsia said that it would only allow
one piece of cabin baggage not exceeding 5kg per guest
 – previously, passengers were allowed to bring one piece of cabin baggage and a laptop bag or handbag. The maximum size of the allowed hand luggage was also reduced to 40cm x 30cm x 10cm from the 56cm x 36cm x 23cm permitted previously.

According to AirAsia, this move was meant to facilitate social distancing especially during embarkation and disembarkation. However,
Malaysians took to social media
 to question the need for reducing the baggage allowance by 2kg.

Screenshot from email sent by AirAsia on Sunday (26 April 2020)

Screenshot of AirAsia’s statement on Monday (27 April 2020)

Following these events, AirAsia’s
updated version of its statement
 on Covid-19 safety measures no longer mentions the revised 5kg cabin baggage allowance. Its
official cabin baggage policy
 now states that the allowed cabin baggage weight is 7kg per person. However, passengers are still limited to only one piece of carry-on luggage, which is subject to the new size restrictions.

AirAsia will be resuming its flight services for selected domestic routes on 29 April 2020, alongside other airlines like
Malindo
 and
Malaysia Airlines
 which have also restarted selected flight routes amidst the ongoing movement control order (MCO).

(Source:
Malay Mail
)

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    Passport Overused

    3 years ago

Great post 😁

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Factors to Consider when Choosing a Home

The place you come home to should be a sanctuary from everyday stresses, but not all have the financial resources to live in a relaxing villa overlooking the ocean. Still, with a little determination and time, you can find a home that is right for you and your wallet.

Choosing the right home is a big decision but eager real estate agents may be forcing you to close the deal sooner than your ready. Hold on! Don’t be persuaded into something you aren’t sure about yet as a home is a pretty big thing from which to suffer buyer’s remorse. At the very least, you’ll need to ask yourself some of the basic questions.

Important Questions Before Selecting a Home

First, Let’s look at some of the questions you will need to ask (and seek to find the answers to!) when choosing a home to buy or rent.

1. Is it within your budget?
 Deciding if you can afford a property is more than just deciding on the price of purchase or rental. You will still need to see all the other costs associated with staying in that particular house/locale.

For the price or rental, establish a rough figure of what you can afford and take into account all other expenses and commitments such as car loan repayments and transportation costs. A good rule of thumb is to allocate no more than ⅓ you monthly income.

But do also consider if cost of living in that town is high or low; if transportation around and to work is feasible; and if you will be able to afford the tariff of amenities.

2. Does size matter?
 If it’s just you, a smaller place might be perfect but note that smaller does not necessarily equal cheaper. Homes in prime spots generally cost more despite its size and ultimately any amenity that makes a home more convenient will drive up its value.

For example, gated or guarded homes close to public transport and near a mall will be more expensive to rent or buy as compared to homes further from the city and without security.

Consider what is more important to you: the size of the unit or the convenience of the location. Unless you can afford the best of both worlds; you will probably have to choose one over the other.

3.
What about the living conditions?
 Renovated, partially or fully furnished homes tend to fetch a higher price than older homes with little or no restoration works done. Some choose to find cheaper, less attractive homes to purchase with the intention to make improvements on the home once they have the funds. Same goes for renting as less-than-perfect homes draw lower rents.

Fixer-uppers can cost less up-front but eventual expenditures to renovate and refurbish the property can be high. Thus, some just prefer to fork out the cash now rather than later and buy a home that is already in good condition.

4.
How much do utilities cost?
 Properties in mixed developments or ones built on commercially designated grounds are charged more in utilities. This is due to commercial rates being applied on such residences, mainly condominiums and serviced apartments.

In addition, some condominium management companies have been known to set minimum payment amounts on some utilities (
such as water
), which can cost anywhere from RM5 to RM30 per month.

What Else Do You Need to Know About Your New Prospective Home?

So you’ve found a nice-looking place that fits your budget. But you’re not done yet! Do you know all there is to know about the property you are taking on?

Types of Land Ownership

Two commonly cited terms when purchasing a home are ‘freehold’ and ‘leasehold’. Freehold ownership states that land and property belong to the title owner in perpetuity (forever).

Leasehold properties have time frames attached to the ownership, for instance, if you purchase a leasehold home, you are the owner of the home for 99 years (usual amount of years). After that time, the land on which the house is built (including the house itself) goes back to being the property of the State.

Leasehold properties tend to decline in value after the 30-year mark and owners will need to pay a premium to renew the lease.

To some, the renewal of a lease is no big deal as they don’t intend to pass the property on to dependents or they feel that their dependents should not have a problem renewing the lease. There is no right and wrong choice: only the right and wrong choice for you.

Investment Value

If you are choosing to buy your home for investment value, note that the rate of appreciation on returns depend primarily on Location, Location, and Location! This is because townships in close proximity to amenities with prominent eateries, clinics, good schools, major shopping malls, and projects like the MRT line tend to appreciate quickly.

Conversely, some areas experience a slower rate of appreciation due to a lack of these amenities, township underdevelopment and an increase in crime. Do your research on the area and if the house is particularly cheap – you might want to seriously ask yourself (and hopefully, the right people) why.

Additional Costs to Bear

When buying a home, you will be subjected to maintenance costs and charged taxes for land. Major maintenance work such as roofing, water damage due to leaks and electrical problems are your responsibility and they can be expensive to repair. In addition, the homeowner will bear the cost of property taxes levied such as Quit Rent and Assessment Tax.

Quit Rent is a form of land tax collected by the Land Office of your state government, whereas Assessment Tax is collected by local authorities such as DBKL or MPSJ for management costs and maintenance work like rubbish collection, tree-trimming and road cleaning.

Whilst these are issues which may persuade you from your dream home – you will still want to know to properly gauge if the investment is worth your while.

Considerations For Renters

For renters, some of the above considerations may apply but not all of them. These are some of the question which need to be exclusively asked by renters.

1. Am I getting the best deal?
 Be sure to research the average price range of similar homes within the area and consider also the amenities in a home that you can do without. This way, you can avoid unnecessarily paying for water heaters and air-conditioners installed in the home if you already own these appliances. If you do not need a fully furnished home – then don’t pay one.

Sometimes, the rent for a units in condos to vary greatly in price despite the size and offerings being the same. This is due to the owner’s wishes and monthly home loan repayments. However, sometimes real estate agents and owners simply up the price for no good reason other than to make more money.

Do your homework and ask other agents selling units in the same condo – you can then make comparisons to find the best deal on the unit of your choice.

2. How Much Will Maintenance Cost Me?
 As mentioned, the landlord will cover maintenance costs and major repairs, however, if you break it – you buy it. This means wears and tears or any other little mishaps will be borne by you unless you have an agreement with owner that states otherwise.

Older houses that have been improperly maintained may cost less to rent, but will incur more expenditure by way of additional repairs and replacements. Expect to be fixing little things around the house at least every other month in the beginning but take heart – older houses tend to also be bigger, have the best locations and be otherwise better value for money.

3. Is My Contract Tenure Expectations the Same as My Landlord?
 Rental contracts in Malaysia are termed for an average of 1-2 years, but more committed tenants and landlords may seek a longer term.

It can be beneficial for both parties to agree on an extended contract, this is because the tenant can avoid moving costs and tiresome packing (and subsequent unpacking!) whereas the landlord evades real estate agent fees or the hassle of finding a new tenant frequently.

Choosing the best home for you may be a time-consuming, stressful battle of wits and negotiation skills, but coming home to a place that truly comforts your mind, body and wallet will be worth the trouble.

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Grab Updates Monthly Promo Vouchers For GrabUnlimited: More Vouchers, Lower Effective Discounts

Grab has announced an update to the promotion vouchers that are offered under its GrabUnlimited subscription plan, providing new monthly promo vouchers in higher quantities and higher total savings – but with some considerable devaluations in effective discounts. Set to begin on 1 March 2023, subscribers will get three new types of monthly GrabFood promotions that will give a total of 20 vouchers, in addition to refreshed 10% off GrabFood self pick-up vouchers.

With this update, GrabUnlimited subscribers will begin to receive the following monthly promotion vouchers starting from March:

Monthly promotion vouchers
Details
Number
Up to RM15 off Grabfood (Hot Deals + Free delivery)
– Can be used all day long
– Minimum spend RM50
6x
Up to RM10 off GrabFood (Hot Deals + Free delivery)
– Can be used all day long
– Minimum spend RM25
8x
RM4 off GrabFood (Hot Deals)
– Only for certain time slots (6am to 10am, and 9pm to 12am)
– Minimum spend RM16
6x

In comparison, the existing monthly promotion vouchers for GrabUnlimited (February 2023) is as follows:

Monthly promotion vouchers
Details
Number
Up to 50% off Grabfood (Hot Deals + Free delivery)
– Not available between 11am to 1pm, and 6pm to 8pm
– Capped at RM8.50 with RM20 minimum spend + RM3 delivery discount
4x
Up to 38% off GrabFood (Hot Deals + Free delivery)
– Can be used all day long
– Capped at RM7.50 with RM25 minimum spend + RM3 delivery discount
6x

As you can see, Grab has increased the total number of monthly promotion vouchers from 10 to 20 pieces, which is good news for those who rely heavily on GrabFood for their meals throughout the day. However, the voucher with the highest value (RM15 off) requires you to spend at least RM50 for your order, reducing its value considerably – especially if you are only ordering only for one person.

Aside from these new monthly promotion vouchers, the GrabUnlimited plan is also refreshing its GrabFood self-pick-up vouchers, which currently offer 15% off self pick-up orders (up to RM12) with no minimum spend. Come 1 March, these self pick-up vouchers will be updated to provide a lower 10% discount, although the RM12 cap remains unchanged.

Other standard GrabUnlimited subscription vouchers, meanwhile, will continue to be provided as usual. You will still get to enjoy GrabFood free deliveries, GrabMart vouchers, and Grab Ride vouchers (airport rides), in addition to exclusive GrabRewards redemption vouchers. Lastly, subscribers also still enjoy
superior redemption rates
 of RM1 = 100 GrabRewards points.

GrabUnlimited is normally priced at a fee of RM4.90 per month, but it is currently going at a promotional rate of RM1 per month for new members, and will renew automatically unless you submit a cancellation request.

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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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Malaysia Airlines Assessing Need To Increase Fuel Surcharge For All Flights

(Image: Reuters/Lim Huey Teng)

Malaysia Airlines has said that it is currently assessing the need to raise its fuel surcharge, following the sharp increase in global oil prices. It attributed the significant rise in oil prices to the ongoing Russia-Ukraine conflict.

Group chief marketing and customer experience officer of Malaysia Airlines, Lau Yin May stated that its current fuel surcharge is as low as US$8 (approximately RM35.30). She further noted that the surcharge that is borne by passengers only covers 10% of the increased fuel cost; meanwhile, the remaining 90% is absorbed by the carrier.

Additionally, Lau remarked that other airlines around the world are gradually increasing their fuel surcharges to cope with the rising oil prices. She also shared that the spike in oil prices then had severely affected Malaysia Airlines, prompting it to
impose a fuel surcharge beginning late last March
.

(Image: Malay Mail)

For now, Lau commented that Malaysia Airlines has not set a time frame as to when it plans to raise its fuel surcharge, as well as the final figures. However, she said that the airline is constantly reviewing this matter as it has to remain competitive. In determining the fuel surcharge increase, the company also needs to ensure that its services can still be afforded by its customers, she added.

(Sources:
Lowyat.NET
,
Berita Harian
)

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Razer Fintech Partners With Visa To Offer Prepaid Credit Card On Razer Pay

Razer has announced a partnership with Visa, which will see the introduction of a virtual prepaid Visa card that lives within the Razer Pay e-wallet, enabling Razer Pay to be accepted at Visa’s 54 million merchant locations worldwide. The new addition to the e-wallet will first be made available in selected countries across Southeast Asia before expanding globally.

The virtual Visa card is integrated into the Razer Pay e-wallet app, where funds will be deducted from the virtual wallet. It will also make use of the same top-up and cash-out methods as Razer Pay, extending Razer Pay’s promise of supporting those who do not own a bank account or credit card, as you can buy Razer Pay top-up PINs with cash in 7-Eleven.

(Image: Lowyat.NET)

“This partnership with Visa significantly extends Razer Fintech’s position as the largest offline-to-online digital payment network in the region,” said Min-Liang Tan, co-founder and CEO of Razer. “We are incredibly excited with the opportunities that this innovative payment solution serves to millions of consumers, connecting them to an extensive network of merchants globally.” Moving forward,
Razer may also introduce a physical Visa prepaid card
 – which makes sense, as it will negate the need of an active internet connection to use Razer Pay.

There is no official launch date for the integration yet, although Visa and Razer say that it be rolled out progressively in the region over the coming months.

(Source:
Razer
,
Lowyat.NET
)

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Maybank Updates MAE App User Interface For Enhanced Mobile Banking Experience

Maybank has refreshed the user interface of its MAE by Maybank2u (MAE) app, in hopes of enhancing customers’ mobile banking experience with better navigation and improved features.

“Your MAE app now provides a faster view of your account details with easier access to your banking options through the eight ‘Quick Actions’ buttons,” said Maybank in an announcement. The bank also shared a visual as to how the refreshed MAE app dashboard will look like (which you can see above).

In comparison, this is how the existing MAE app dashboard looks like:

For the convenience of its customers, Maybank also detailed the main changes to the refreshed user interface of the MAE app here:

Changes
Details
View your Primary Account balance (previously known as ‘Wallet’) at one glance
– Your Primary Account balance is displayed at the top of your dashboard, and can be seen once you fire up your app.
– You can hide or reveal your account balance easily with one tap.
Change your Primary Account with less hassle
– The change can be done more conveniently, straight via your MAE app dashboard.
– Tap on “View All Accounts” (below your Primary Account balance) or “Accounts” (at the bottom bar) –> choose your preferred account to set as the primary account –> “Manage” –> “Set as Primary”.
“Quick Actions” section
– This dedicated section can now be customised to accommodate your more commonly accessed banking features.
– You can set more than eight Quick Action tiles (two pages allowed, eight tiles in each page).
– Access even more icons or features by swiping to the second page of “Quick Actions” and tapping on the “View All” tile.
Easy access to other key features
– Obvious login button at top right corner to let you sign in and out from your MAE app with ease.
– Easily find other key features straight from the home dashboard, including “Apply”, “Settings”, and “Notifications”.

In its FAQ, Maybank reassured customers that these changes to its app – which was
launched back in October 2020
 – were made only to provide a better user experience on the mobile app, and that all its banking functions remain accounted for. “All your accounts remain accessible via the MAE app. You can continue performing secure transactions on the mobile app via Secure2u as usual,” it shared, adding that there is no option to toggle between the old and new look; once you’ve updated your app to the new look, it will remain as such moving forward.

The new look is already available for Android and Huawei users since yesterday (28 May); you will need to update your MAE app to the latest version (v0.9.12) in order to see the refreshed dashboard. Customers using iPhone (iOS users), meanwhile, will be able to access the updated version starting from tomorrow (30 May).

For new Maybank customers, you can download the refreshed MAE app for free from
Google Play
, the
App Store
, and
Huawei AppGallery
.

(Source:
Maybank
)

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5 Things You Can Buy if You Can't Afford a House in Malaysia

If there is one thing Malaysians have been continuously asking for; it’s more affordable housing. Budget 2015 came and went with only two main initiatives that directly addresses the problem (there were some other smaller initiatives that don’t really make homes more affordable but simply sweeten the deal):

First home owners earning less than RM10,000 under the PR1MA Scheme (limited to only another 80,000 units).

Young Couples earning collectively less than RM10,000 and buying their first home.

But what if you’re not lucky enough to be get a PR1MA unit (which are limited) and no one will marry you just yet? Well, maybe these are the kind of lodgings we’re expected to buy.

We’ll start from the most expensive option (though still not quite as expensive as a house in prime city areas).

1. The RV Motorhome

The great thing about having an RV is the ability to park it just outside your office and there’s literally no commute. But to be honest, many of the RVs brought into Malaysia are play things of the rich filled with every possible luxury and as such; are not exactly cheap. The cheapest we found on StingrayRV Malaysia was selling for 35,000 British pounds (approximately RM183,856).

The RV for the price above is second hand but the interior looks better than even some expensive homes. Plus, investing in an RV means you get a house and a vehicle at the price of a low-cost flat in the Klang Valley.

That’s actually not such a bad deal. The only downside? You’ll have to clean out your own poop.

2. Mongolian Yurt

If you’re wondering whether this is a funny kind of fruit or milk; well, no. A Mongolian Yurt is a traditional type of hut used by Mongolian nomads. These huts can still be seen in the Mongolian countryside and travellers on the
Trans-Siberian Railway
 bound for Russia from Beijing frequently book a yurt during extended stopovers (Trans-Sib journeys can go on for up to 16 days, we’re told!).

In fact,
a resort in Sabah
 uses yurts as their holiday chalets. Renting one for two people only costs RM170 (if you want to try it out before considering it your permanent abode!). Yurts aren’t commercially available in Malaysia but if the Sabah resort is able to purchase them; you should be able to as well. An
online Yurt store based in Ulaanbaatar, Mongolia
, sells their cheapest 4-walled yurt for USD$5,900 (RM19,670).

The only problem is you’ll need to buy an additional Rentokil port-a-loo or… build your yurt really close to a gas station/gym where you can use the toilet!

3. IKEA Flat Pack Refugee Shelters

Unfortunately,
these flat-packed shelters
 are for now only available for err… refugees. But who knows when they may become commercially available as a flat pack on
IKEA
 shelves? The recommended price for sponsors is USD$1,000 (approx. RM3,335) and even comes equipped with USB ports! Like all IKEA products; it’s easy to assemble; just 4 hours of grunting and turning parts around until you get it right. According to
gizmag.com
, it only lasts 3 years but RM3,335 every three years ain’t so bad.

Although made specifically for
UNHCR
 for refugees in war torn countries – perhaps one day, IKEA will agree to sell these flat packed houses to Malaysians who can’t afford property. UNHCR volunteer not included for assembly.

4. Camping Tents

Should all else fail and the wallet is really thinner than the new iPhone 6; a camping tent may be the next best thing. A relatively good tent will cost you around RM399 which can fit 3 people (note; we didn’t say comfortably). Rentokil toilet required – or camp near a public toilet.

5. Child’s Play House

Finally, when situations are really dire; maybe your 5-year-old will share his/her play house with you. Be the king/queen of your child’s castle at only RM59.90. Sadly, the house is neither weather resistant nor… a house at all. But some come with free balls. Which is kinda nice.

If you haven’t figured out; we’re joking. But here’s what isn’t a joke: According to a
Malay Mail report in September, 2014
 on the cost of living and household income,
“Seventy-five per cent of households in Malaysia earn RM5,000 or less Suhaimi Ilias, chief economist at Maybank Investment Bank said, adding that 53 per cent of households earn RM3,000 or less per month and about 67 per cent earn RM4,000 or less a month”\
.

Couple that with the fact that the cheapest house price in major cities is in the region of RM350,000 (meaning monthly loan payments of approximately RM1,550
) and you’ve got a situation where a household income of RM3,000 is not going to be enough. Hefty downpayments, legal fees and transfer charges don’t help the situation either. Without proper government policies to truly address this problem for *
everyone** (and not just particular groups of people); we fear the ridiculous suggestions above may be our only resort to home-ownership.

\
Calculations are based on a RM320,000 loan for 35 years on an interest rate of 4.65%. Find the best home loan for your situation with
our home loan calculator
.*

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Find Out Exactly How Much Money You're Wasting in Useless Meetings

While it’s true that meetings are often necessary to keep people up to date, some meetings can be a real waste of time. And since time is money, we really ought to keep track of how much money we waste on meetings. But how can we do this?

The people at Harvard Business Review sought to answer exactly that question. To that end, they’ve recently developed a quick and simple tool to estimate the monetary costs of any meeting.

The browser app does this by multiplying the man-hours a meeting takes with the estimated salaries of each attendee. The thinking is that whenever a worker is forced to be away from their desks, that worker is not exactly doing 100% what they were hired to do, translating to them being paid for ‘nothing’, thus losing the company money.

To test out their math for yourself, open up the
web app
 in a new browser tab and type out how long the meeting is, how many people are in attendance, and their estimated salaries and the app lets you know in US dollars how much that meeting cost. The tool is even available for download in the form of a small app for your smart devices.

How Does This Help?

Knowing the monetary cost of a meeting can help in several ways. If it’s your job to coordinate these meetings in the first place, you may be more motivated to make the meetings more efficient or help people spend less time in them.

You may even use the estimates to convince decision-makers on whether or not to have the meetings at all. If you’re just a regular worker bee, you can better understand the value of your time in meetings which can help you be more a more effective member in the meeting rooms.

Avoid Wasting Time and Money Through Meetings

Of course, the real bad guy here aren’t meetings themselves. It’s the practice of having ineffective meetings. Should you discover that your company or department is wasting too much money on meetings, here are some principles to remember to keep your meetings brief, concise, and to the point.

Do:

Make the meeting purpose clear and send an agenda out ahead of time;

Manage the flow of discussion and keep unrelated comments to a minimum;

Send out a follow-up email after the meeting that lists next steps, who’s responsible for them, and when they’ll get done.

Don’t:

Feel obliged to invite lots of people — only include those who are critical to making progress;

Move on to a new topic until everyone is on the same page;

Let the group get too distracted by tangents — ask if you can address unrelated topics another time.

By using these tips and the estimation tool above, we hope we can save you, your department or your company a lot of time, headache, effort, as well as money on boring ineffective meetings.

Do you have any other tips on being more effective in the office? Do share them with us in the comments section down below!

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Sights & Scenes: Maybank Treats Fair 2022

After a few years of conducting its flagship card event virtually, Maybank is back with a bang to hosting its Treats Fair event physically. Featuring a host of activities on top of a bonanza of deals with over a hundred participating merchants, the bank certainly went out of its way to recapturing the magic of Treats Fair.

Now in its 18th year,
Treats Fair 2022
 has a huge variety of deals exclusively offered only to Maybank cardholders, allowing them to use their Treats Points as good as cash at this event. We popped by to check out the four-day event earlier today, and here’s what we saw!

Kicking things off at Day 1 was the official launch event, which not only partners from Visa and Mastercard, but also Manchester United legends Dennis Irwin and Wes Brown

VIPs posing at one of the two Mercedes cars being offered as part of its latest campaign for Maybank cardholders which also launched today

Gift Counter which also includes a Spin the Wheel reward that allows shoppers at Treats Fair to earn bonus Treats Points

Members of the public can also apply for Maybank credit cards at the event

Meanwhile, a Customer Service booth was also available to help existing Maybank cardholders with things like TreatsPoints balance enquiry, credit limit check, credit limit increase, and more

At the end of one of the halls, cardholders can also easily redeem gifts from the TreatsPoints catalogue

Maybank Treats Fair is a one-of-its-kind event, where shoppers use their credit card rewards points as currency (but you can still pay with your Maybank cards). At Treats Fair, cardholders enjoy an improved redemption rate of 400TP = RM1 (usually 500TP = RM1)

There are also exclusive promos on-site, such as this from Starbucks

Cardholders can also easily pay for their traffic summons (available this weekend only) and assessment taxes

With over 100 participating merchants, Maybank cardholders can enjoy great deals on virtually everything, from home appliances, smart gadgets, jewelry…

…to tourist attractions, holiday packages…

…and even place bookings for a car!

Besides the main event at the Mid Valley Exhibition Centre, Maybank also has another Treats Fair area at the Centre Court of Mid Valley Megamall. In fact, various retail outlets in Mid Valley and The Gardens will accept Maybank TreatsPoints redemptions at the Treats Fair rate (400TP = RM1)

At the Centre Court area, cardholders can take part in mini-games to win Maybank merchandise. Members of the public can also apply for Maybank cards here

You can also meet Fred the Red, Manchester United’s mascot, and Harimau Malaya, Maybank’s mascot, roaming around the Treats Fair halls!

The Maybank Treats Fair 2022 will be open until this Sunday (30 October) at 10pm at Mid Valley Exhibition Centre. For a full list of events happening from now till Sunday, check out the
official website
.

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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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What To Expect From Budget 2020

Tomorrow, Finance Minister Lim Guan Eng will be announcing the new Budget for the upcoming year. Based on the theme of “Shared Prosperity: Sustainable And Inclusive Growth Towards High Income Economy”, Budget 2020 is intended to focus on Malaysia’s target to become a developed nation through high-quality growth that includes all segments of the society.

The national Budget affects all sectors of society in some way, so it is natural that anticipation and expectations surrounding Budget 2020 are high. Here is some insight into what is expected in different areas of Budget 2020.

Tax

The media has been awash with headlines about the possibility of the Pakatan Harapan government abolishing SST and reinstating GST in its place. However, Finance Minister Lim Guan Eng has firmly said that the government has no plans to U-turn on its general election promise to eliminate GST. As originally stated by Prime Minister Tun Dr Mahathir Mohamad, the Pakatan Harapan government would only reinstate GST if it was
very clear
 that the people favoured such a move.

Further on the subject of tax, Lim Guan Eng has stated multiple times that the government is unlikely to introduce new tax measures in Budget 2020. In particular, he has confirmed that the government will definitely not be introducing
inheritance tax
 during this Budget. There has also been talk that the current corporate tax rate of 24% might be reduced, with the
Federation of Malaysian Manufacturers (FMM)
 calling for the government to do so earlier in August. At any rate, Guan Eng has said that
the corporate tax rate
 will not be increased.

Property

In the previous Budget, the government increased the real property gains tax (RPGT) for the disposal of property in the sixth and subsequent years. There are hopes that the government will consider
reviewing the RPGT
 given the current property market conditions, as there was some negative response towards the increase in the rate last year.

Although it is unlikely that the government will consider
terminating the RPGT
 altogether, a reduction in the RPGT rate is definitely on many a Budget wishlist this time around. Meanwhile, several parties have pointed out the benefits that the Home Ownership Campaign (HOC) 2019 have brought to the
property market
, with hopes that similar incentives will be put forward in the coming year.

Employment

According to Guan Eng, Budget 2020 will emphasise on creating more
job opportunities
 with reasonable pay to give Malaysians more desire and motivation to work. “I believe Malaysian workers are better than foreign workers from Bangladesh and Myanmar, but you must give them the right incentive,” he said. The Finance Minister highlighted the importance of every Malaysian getting equal opportunity to find a job which gives reasonable pay.

Economy

Multiple voices have called for the Malaysian government to allow room for an expansionary Budget given the current economic climate not just in the country, but globally as well. Former senior UN official
Professor Dr Jomo Kwame Sundaram
 said that the Malaysian government should think of measures to counteract the downward forces of the global economy.
Local Socio-Economic Research Centre (SERC)
 executive director said that the government must include an expansionary Budget with a focus on protecting growth-enhancing spending and investment.
Bank Islam Malaysia
 also expects Budget 2020 to be expansionary and strategised towards boosting economic growth.

Finance Minister Lim Guan Eng has echoed the sentiments that lean towards the need for an expansionary Budget. “We will prioritise economic growth,” he said in
September
. “Such expansionary measures may be necessary to provide some fiscal contingency, amidst an uncertain global economic environment if the trade dispute between China and the United States remains unresolved.”

SMEs and E-Commerce

In 2017
, Small-Medium Enterprises (SMEs) contributed to 37.1% of the country’s GDP and 66% of the nation’s employment. There are very high expectations of SMEs being among the main beneficiaries of the upcoming Budget, especially given Lim Guan Eng’s hints at upcoming expansionary measures to spur the local economy. The
Ministry of International Trade and Industry (MITI)
 has forwarded a request to the Ministry of Finance that more funds be allocated for SMEs in Budget 2020.

In line with this anticipation, the
e-commerce industry
 in particular is gearing up to see what incentives Budget 2020 can offer to industry players in the digital economy. Leading e-commerce platform Shopee has expressed hopes for the formation of policies to encourage the development of e-commerce support industries. Cashback platform Shopback has suggested a one-year tax exemption for SMEs that enter online operations for the first time to help sustain their businesses.

The
rakyat

A high cost of living is a continued concern in the average Malaysian’s everyday life. Polls run by media outlets have shown that the high cost of groceries and household goods feature as a
top concern
 of the lower-income B40 group, with Malaysians also looking at a reduction in personal income tax and increased subsidies as a way to
reduce the impact
 of a higher cost of living.

The Pakatan Harapan government has shown a steady focus on the B40 group when it comes to subsidies and financial assistance. This can be clearly seen in the recent
petrol subsidy scheme
 announced by the government, which sees the bulk subsidy being removed from the general public and extended only to eligible Bantuan Sara Hidup (BSH) recipients.

This has led to comments, especially from the opposition, that the government does not recognise the needs of Malaysian falling under the middle 40% (M40). “My concern is that while we are too focused on the B40, we could be trading off the interests of the M40,” said
MCA vice-president
 Ti Lian Ker.

Health and Infrastructure

According to Health Minister Datuk Seri Dr Dzulkefly Ahmad, the
Ministry of Health
 has submitted requests for a bigger allocation in Budget 2020 to address issues like shortage of staff, equipment, and facilities. He added that these problems have been unaddressed for a long time and have been acknowledged in the Auditor-General’s annual report.

The
Works Ministry
 is also hoping for a bigger chunk of Budget 2020, with the intention of using it to upgrade federal roads. Deputy Minister Mohd Anuar Mohd Tahir said that the many complaints about federal roads have not been addressed due to Budget limitations, and that priority would be given to states with long federal roads like Pahang, Kedah, and Perak.

Stay Tuned From Tomorrow Onwards

(Image: The Malay Mail)

With all the speculation and expectations surrounding the lead-up to Budget 2020, it will be interesting to see how (and if) the government covers each aspect of the Budget to satisfaction. Finance Minister Lim Guan Eng will be tabling the Budget in Parliament tomorrow on Friday 11 October at 3pm in the afternoon.

The RinggitPlus team will be covering the Budget announcement live with some insight from our CEO Hann Liew, so make sure to stay tuned on our social media pages. We will also be providing you with a comprehensive breakdown on all things Budget-related, so make sure to keep an eye out for future articles on our Budget 2020 page.

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Are Robo-Advisors A Great First Step Into Investing?

With the fintech landscape evolving rapidly over recent years, financial institutions and service providers are quick to adopt innovative solutions to offer better and more seamless services for their customers. One solution that is quickly becoming mainstream are robo-advisors, which is intended to simplify the investment process for the public, including both beginners and experienced investors.

Many Malaysians would have heard of or are actively using robo-advisors, and for good reason. If you’re looking to take your first step into investing, robo-advisors are a great platform to start. In this article, we’ll explain the basics of a robo-advisor and why they’re a suitable option for investment beginners.

What is a robo-advisor?

To begin, robo-advisors are wealth management platforms that also function as automated portfolio managers. They make use of advanced technology – including algorithms and big data analytics – to help you build and manage an investment portfolio based on your investing goals and risk tolerance.

Globally, robo-advisors have been around for a while; the
 first robo-advisor, Betterment
, was launched in 2008 in the United States. In Malaysia, the first robo-advisor to
 obtain the required licence
 from the Securities Commission (SC) to operate is StashAway, back in 2018. Since then, more robo-advisors have emerged in the market.

How do robo-advisors work?

When you invest using robo-advisors, you are essentially investing in an “assorted package” of investments, instead of just one asset class (such as only in bonds, or equities, or commodities). In other words, you are buying into a mix of assets, often made up of some (or most) of the following:

Shares and equities
Properties/Real estate
Bonds/Sukuk
Cash
Fixed Income
Commodities

This list is, of course, non-exhaustive; there are various other assets that robo-advisors can dabble in as well. As such, a robo-advisor immediately meets one of the golden rules of investment: diversification.

When you start your investment journey with a robo-advisor, you will typically be requested to fill in a questionnaire to share some basic information. These include details like your age, income level, financial commitments and goals, and investment timeline. Based on the provided information, the robo-advisor will suggest to you a suitable risk appetite and an appropriate investment portfolio.

For instance, someone who has a higher level of risk appetite may be allocated a larger percentage of equity (stocks) in their portfolio compared to someone with a lower level of risk appetite. Some robo-advisors will also “unlock” the ability to create your own investment portfolio, should you wish to do so.

Benefits of investing with robo-advisors

Robo-advisors are rising to popularity for several reasons; as an alternative to traditional portfolio management, they offer certain advantages.

1. Affordability & Accessibility

A key advantage of robo-investors is its affordability. Robo-advisory platforms typically charge significantly lower management fees compared to traditional professionally managed investments such as unit trusts. For instance, StashAway lists its three fees (annual fee, expense ratio, and currency conversion fee) as below:

Meanwhile, the fees charged for traditional investment management could include one or a mix of the following direct and indirect charges: initial sales charge, management fee, trading commissions, withdrawal fee, and switching fee. Notably, the sales charge could fall between the
 range of 3% to 6%,
 whereas the annual management fee could come up to 2%. As these fees begin to stack up, the cost to invest can turn out to be quite hefty.

On top of that, robo-advisors also tend to have a lower minimum investment amount compared to traditional investment options. In fact, licensed robo-advisors in Malaysia only require you to commit a minimum placement ranging between RM5 to RM100 to kickstart your investment journey. This is in comparison with the minimum investment amount of RM1,000 that is sometimes needed for certain unit trust funds. Given this reduced entry requirement, robo-advisors make investing a lot more accessible to the public.

2. Automated Processes

Besides that, the automated investment process with robo-advisors also lowers the barrier of entry for beginners – there’s no need to do too much research and devise your investment strategy, because a robo-advisor would be able to do it for you through its risk assessment analysis.

Moreover, robo-advisors automatically rebalance and re-optimise your portfolio after certain periods to ensure that it still matches your financial goals and risk tolerance. These processes are crucial to cope with the fluctuating market value of certain assets due to economic shifts, which can then go on to change the risk-and-return profile of your portfolio. With these processes done for you, you do not need to monitor and rebalance your portfolio by yourself.

3. Emotion-Free

Some investors, especially the less experienced ones, can get easily influenced by market sentiments, causing them to sell during a downturn, or make reckless buy orders during a sudden market upsurge. These usually don’t end well, and can result in painful losses.

Robo-advisors stick to algorithms for all investment-related decisions, taking the emotion out of the process. For example, an unusual market correction (such as the one facing China’s tech stocks) will be seen as a buying opportunity for robo-advisors rather than a panic sell decision that individual investors may end up making.

4. Diversification & Global Market Exposure

As we’ve mentioned earlier, robo-advisors let you invest in a variety of products at one time, which means that your risk is managed efficiently. If a particular investment asset in your portfolio dips in performance, your losses can be cushioned by the profit made from other asset classes.

Aside from being able to diversify your asset classes, investing through robo-advisors can also give you exposure to other markets (geographical diversification), from the United States to various Asian regions. This is traditionally a costly and sometimes difficult process, but also an important investment strategy. Exposure to different markets allows investors to tap into higher-growth or mature markets for better returns, and mitigates any risk that could affect the local market.

A great first step into investing

The inherent nature of robo-advisors and their unique perks makes them a genuinely useful tool for modern investors, both new and seasoned. They offer “training wheels” to novice investors with portfolio recommendations that are tailored to their risk appetites, while allowing them to familiarise themselves with the world of investment.

Meanwhile, working adults who frequently use the excuse of not having enough time to invest can enjoy the benefits of a robo-advisor as well. Most, if not all platforms, offer standing instructions to deduct a fixed amount from your savings account every month, so you can “set and forget” your investment and make your money work for you. No more excuses!

As the largest robo-advisor in Southeast Asia, StashAway is the preferred option for most Malaysians looking to invest using a robo-advisor. Its stellar track record (up to 17.6% in annualised performance since its inception in 2017 to 2020) combined with affordable rates make it a solid option if you’re looking for a robo-advisor.

But there’s more! Thanks to our
ongoing partnership with StashAway
, we at RinggitPlus have an exclusive promo, just for our readers. Enjoy 50% off fees for the first RM100,000 invested for 6 months, no strings attached!

Ready to start investing with StashAway? Tap into our special deal and
sign up for StashAway through this link
.

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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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EVA Air Kicks Off Campaign To Deliver Elevated Flight Experiences For Travellers

Taiwan-based airline EVA Air has launched its Elevating Your Experience brand campaign, which aims to provide Malaysian travellers with a “flight experience that is beyond ordinary”, rooted in comfort, convenience, and quality.

Through this campaign, travellers flying with EVA Air on its routes to various destinations in Europe – namely Milan, Munich, Paris, Vienna, London, and Amsterdam – will get to enjoy a seamless flight experience that is imbued with Taiwan’s charm and hospitality. Specifically, the airline will tap into its superior services, enhanced passenger safety and comfort protocols, innovative digital experiences, and gourmet dining options to bring travellers on an unforgettable journey.

As an example, EVA Air noted that it is only one of ten airlines globally to win the prestigious SKYTRAX 5-Star Airline Certification for eight consecutive times (and the only Taiwanese airline to do so). It has also been recognised as one of the World’s Top 20 Safest Airlines for the past 10 years by AirlineRatings.com.

On top of that, EVA Air is constantly finding ways to integrate latest technologies to its processes so that passengers can enjoy a more enjoyable flight experience, such as the introduction of automated check-in and electronic onboard reading materials. As for its culinary offerings, the airline is working with Michelin-starred chefs and award-winning beverage experts to curate the meals served to its passengers.

“With the ‘Elevating Your Experience’ campaign, we invite Malaysians to go on a flight experience that is beyond the ordinary. It is our privilege to inspire and uplift our fellow travellers, ensuring that every flight taken with EVA Air becomes an extraordinary trip of discovery, comfort, and transformative joy,” said the general manager of EVA Air (Malaysia), Jack Tseng.

In conjunction with this campaign, EVA Air is bringing its in-flight offerings and experiences to Malaysians on the ground via an augmented reality (AR) truck, situated at The Starhill, Bukit Bintang (24 to 27 August) and The Sphere, Bangsar South (28 August). Visitors will also stand a chance to win two flight tickets to Europe by participating in some activities at the truck.

You can find out more about the Elevating Your Experience campaign and the opportunity to win the flight tickets via EVA Air’s social media pages (
Facebook
 and
Instagram
) here.

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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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7 Things You Need To Do To Avoid Getting Sick When Travelling Overseas

Very few things can spoil your vacation like having to stare out your hotel window at the breathtaking view of the beach or the countryside while you’re stuck indoors. Or more specifically, the toilet. Suffering from food poisoning.

The different climate, the long flights, the foods, the water, and even the air can affect your immune system and increase your chances of getting sick. Don’t spend your vacation in the toilet – or the hospital. Follow these tips to keep your health in check as you indulge your travel bug cravings!

1. Get Your Vaccine Shots

Prevention is better than cure. That phrase cannot be truer when it comes to travelling to a country you’ve never been before. Did you know that some countries have higher health risks due to virus-induced diseases – such as measles and yellow fever?

The good news is,
most of these diseases can be prevented by a simple vaccine shot
 at your local clinics or healthcare facilities. So, schedule an appointment with your doctor at least two weeks before your flight date and find out if you’re properly vaccinated against possible diseases in your travel destinations.

If needed, get vaccinated (only if your doctor recommends it) to shield yourself against health risks when you travel.

2. Take Supplements and Medications With You

If you’re dependant on certain medications, this should go without saying. But, even if you don’t have any health issues, pack supplements such as Vitamin C and B to help boost your immune system.

We also recommend you to
pack your own medications
 (be sure to declare them before flying) in case you need them. Not only it gives you immediate access to them in times of need, it also helps you to save money as visits to health facilities are usually expensive for tourists.

Also, remember that although most travel insurance providers offer coverage for your international outpatient visits, it usually works on claim basis – which means a smaller budget for sightseeing and fun activities for you.

Protip:
 Always have a mini first-aid kit with you at all times. Fill it with your medications (especially if you’re on prescribed medication), bandages, and ointments so you’ll always be prepared for the worst scenarios.

3. Stay Hydrated

Flying on airplanes can be
very
 dehydrating. The high altitude and pressure can weaken your body, which makes drinking your eight glasses (roughly 2 litres) of water every day even more important to maintain your health.

When flying, avoid alcoholic beverages or caffeinated drinks such as coffee and tea as they can dehydrate your body further and may cause headaches, muscle cramps, dizziness, and constipation. If you experience any of them on or off flights, increase your water consumption to alleviate the symptoms.

4. Drink Bottled or Filtered Water

Contaminated water is one thing to be concerned of, but your
bigger
 worry when drinking tap water while overseas is if the bacteria and mineral found in the water don’t agree with the ones already in your body. All of us have bacteria in our body – be it the good or the bad kind.

If your body is not used to the bacteria found in the tap water, you’ll get sick as your body will try to dispel them from your system. Use the local tap water only for showers and washings, but
only drink from filtered or bottled water
. In fact, avoid ice, and only brush your teeth filtered or bottled water.

If you don’t want to keep buying bottled water, get a water bottle with a filtration function such as
Lifestraw
.

5. Always Carry an Insect Repellent

Insects – especially mosquitoes – can spread all kinds of diseases such as malaria, Zika, dengue, and even Lyme disease.

Protect yourself from insect bites as best as you can by using insect repellent, mosquito net (when sleeping), and by wearing long-sleeved shirts and pants – especially when you’re travelling to a tropical country.

6. Protect Yourself Against the Sun

So you want to get as tanned as the supermodels and Hollywood stars. We get it, there’s absolutely nothing wrong with that. But, remember that excessive exposure to the sun can cause sunburn, sunstroke, dizziness, nausea, premature skin aging (a.k.a wrinkles) and even skin cancer.

Don’t ditch your sunscreen, and use the one with
sufficient SPF factors
 to protect yourself from the bad ultraviolet (UV) radiation and avoid going out under the sun when the sun is at its peak.

7. Mind the Germs

If you’ve never bothered about hand sanitizers and disinfectant wipes, you might want to change your views on them when you travel. Public spaces such as the seats and tables in airplanes, public toilets, and even the tables in restaurants that you’re dining in have been exposed to so many people – and germs.

Make it a point to carry a small hand sanitizer with you at all times, in case you can’t wash your hands. Disinfectant wipes and sprays are great for all kinds of surfaces, so
when in doubt, just wipe/spray it
. You’ll feel more at ease knowing that at least it’s much clearer – and safer – for you while the space is yours.

Better Be Safe Than Sorry

Even with all the precautionary measures, sometimes we can’t help but to fall sick. That is why it’s better to safeguard yourself – and your finances – when you’re travelling by buying a suitable travel insurance policy.

You’ll save so much money on hospitalisation (depending in the chosen coverage amount), clinical visit, and even travel-related misfortunes such as lost luggage, cancelled flights, and more (check what the travel insurance can cover you for before buying).

If you’re not confident with the travel insurance policies offered by your credit card provider or your airline, take a look at our
comprehensive list of the available travel insurance in the market
! You can compare and apply for them with one simple click.

What are your tips to staying healthy when travelling? Share them with us in the comment section below!

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Syaza Abd Jani

Syaza Abd Jani

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7 Important Tips to Stay Afloat When You Are Unemployed

There’s nothing certain in life except for death and taxes. The same can be said for job security and income opportunities too. You may feel that worst case scenarios are above you and entertaining these negative thoughts will serve nothing but to distract you from achieving your goals.

Despite that, should an unforeseen situation render you jobless with no other contingency measures in place, have you pondered over the things you can do to stay afloat when life turns turbulent for you?

Here are 7 tips that you must know should you find yourself unemployed in the distant future.

1. Cancel All Unnecessary Monthly Subscriptions

Be it a gym membership that you have been actively using or a random Netflix subscription that came bundled with your telco package, while these incidentals may seem inferior and do not play a major role in causing your expenses to skyrocket, it is still one of the many things that can gradually siphon the funds that you are carefully preserving for other uses as well.

2. Enter a Support Group

Having the right mind-frame is vital to keeping calm in times of uncertainty. Even if your current circle of friends and acquaintances may be willing to lend a sympathetic ear and moral support to keep your spirits up, don’t be afraid to join support groups and network with individuals who are most likely to be in the same boat as you are, navigating through the many trials and tribulations that may be similar to your current circumstances.

3. Negotiate with your Creditors

Without a doubt, this can be a tricky situation seeing that creditors would often assume that you are able to pay off your debts and commitments and there may be heated discussions on how you plan to approach those issues.

Having said that, your creditors would appreciate your honesty in admitting your financial setbacks rather than them needing to contact you to find out about your missed payments. They may even offer repayment plans that are more favourable and empathetic to your financial struggles without causing the relationship to deteriorate entirely.

 Read also
 :
 What To Do If You Suddenly Get Fired

4. Network, Network, Network

The most common mistake that you can do when you are unemployed is to allow your feelings to overwrite everything and we all know that an idle mind is the devil’s workshop. Now that time is not an issue for your future endeavours, make it a point to stay productive.

Whether you choose to attend seminars and talks to enrich your knowledge or participate in networking sessions to mingle with individuals from diverse backgrounds, if luck is on your side, you may even meet your future employer somewhere along the way. So keep your portfolio updated at all times, as you may never know if someone is interested in tapping into your capabilities.

5. Be Open to Alternative Jobs

No, we are not asking you to jump straight into
 risky investment platforms
 or
 pyramid schemes
 – What you may want to look into is manual work which may not be your cup of tea, but it is still a proper job which anyone can do without looking too much into education qualifications or job experience.

From
 being a personal shopper at HonestBee or HappyFresh, running random errands at GoGet, being a Grab/Uber driver, doing domestic housework via MaidEasy to teaching kids tuition
, these jobs are far from glamorous, but they will definitely help you to pay your bills and keep yourself busy during the trying times of unemployment.

6. Learn New Skills

Ever thought about the many skills that you would love to learn but didn’t have the time to? With the extra time that you have on your hands now, there are many things that you can commit to, some that you can even participate for free such as language or video editing classes, which may not seem like something useful to learn on the surface, but it will add to your skill set and indirectly boost your worth as job candidate to a potential future employer.

After all, you may never know when your these skills may come in handy.

7. Get Involved with Community Work

Working as a volunteer in times of unemployment is nothing new but it’s still something that is worth venturing into especially when it is an altruistic cause that can make a difference in the life of others. Apart from the satisfaction that you receive from giving back to the society and helping others, involving yourself in community work also offers you the chance to build relationships with people from different facets of the society while honing your interpersonal skills.

So, if you are done moping and drawing imaginary circles on the wall, it’s time to start volunteering and improve your self-worth.

Although it is tempting to cut back on everything and lead a fairly utilitarian life, being unemployed can be an emotionally taxing experience.

This, in turn, would affect your well-being in the long-run so it is best to gradually apply these changes in your life instead of the drastic ‘go big or go home’ measure that is most likely to burn you out if you are not too careful.

In the meantime, you may also want to diversify your investment portfolio and consider long-term financial instruments to help you weather life’s unforeseen circumstances. If you have some extra funds to spare, instead of splurging on a vacation or a luxury item, you may want to place them in a high-interest fixed deposit savings account to capitalise on your earnings.

As a matter of fact, you can use our <a href=”
https://ringgitplus.com/en/fixed-deposit/”target=”_blank”>
 comparison tool

to discover the best fixed deposit promos in Malaysia, so what are you waiting for? It’s time to make your money work hard for you too.

Are there any other unemployment survival tips that you would like to add on to our list? Share your comments and thoughts with us in the comment box below.

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Arnie Ruxana

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Securities Commission Halts Promotion of LaVida Coin Cryptocurrency

(Source: SME)

Malaysian cosmetics icon Datuk Seri Vida announced the launch of her own cryptocurrency, LaVida Coin late last August. However, her plans may hit a roadblock as they have come under the scrutiny of the Securities Commission (SC) and Bank Negara.

The venture was initially flagged by the SC a few days after the announcement, stating that it was reviewing information on LaVida’s initial coin offering (ICO) to determine if it is compliant with securities laws. On 5 September, the SC issued a notice directing the promoters of LaVida Coin to cease all promotional activities in relation to LaVida Coin with immediate effect, pending further review into the matter.

The promoters of LaVida Coin are DSV Crypto Club, LUX Galaxies, and VI Profit Galaxy, and were added to the SC’s Investor Alert List. Earlier on 29 August, Bank Negara Malaysia had also listed these operators of LaVida Coin on its financial consumer alert list due to concerns over the legitimacy of the cryptocurrency venture. The list consists of companies and websites that are neither authorised nor approved under the relevant laws and regulations administered by the central bank.

Datuk Seri Dr Hasmida Othman, better known as Datuk Seri Vida, is a business mogul who made her fortune from her Qu Puteh cosmetics empire. According to her, she came up with the idea of launching her own cryptocurrency after gaining a healthy profit from her investments in cryptocurrencies two years ago.

(Source: Wanista)

“I can’t help every person by handing out money, but I want others to have the chance to enjoy good fortune just as I did,” explained Datuk Seri Vida. “Which is why I’m sharing the latest method through LaVida Coin which is easy, isn’t burdensome and is able to generate lucrative income. I believe the Lavida Coin is affordable and capable of generating a handsome amount of money for investors.”

The Qu Puteh founder created LaVida Coin with services from a professional team and is expecting its value to increase by the end of the year. The ICO had been expected to raise some $1.5 billion (about RM6.2 billion), and the sum was to be used to fund three projects – a new payment gateway called LaVida Pay, a new online entertainment channel with an entrepreneurial focus, and a non-profit Islamic community hub, which includes a mosque.

The effect of the SC’s notice is that all promotional activities related to LaVida Coin will have to be stopped until further notice by the SC. At the time of the notice, LaVida Coin was in the midst of its pre-mining stage, which was planned to run for six months from August 2018 to February 2019. Once completed, the LaVida blockchain would have been opened to cryptocurrency miners. Thankfully, Datuk Seri Vida has complied with the SC’s orders, and
released a statement on her official Instagram page
.

(Source:
The Malay Mail
,
The Sun
)

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Jacie Tan

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Financial Alternatives to Giving a Traditional Cash Ang Pow

Every year, young children get excitedly ready not just for the sweet treats that Chinese New Year (CNY) brings but also the little red packets filled with cold hard cash that they receive.

Whilst, distant relatives, extended family and neighbour children will receive token amounts of crisp RM1 (or RM10 if the family is particularly wealthy) notes; Chinese families often give much larger amounts to their closest kin. Whether it’s a parent giving a child or a working adult child giving a parent – these numbers can go from hundreds to thousands depending on how well off the family member is and how many people he/she has to consider.

Large
ang pows
 for close family members is one way to do it but how about trying another way?

A Junior Savings Account for a Child

If you want to start your little one off to a good saving start – deposit their
ang pow
 money into a
junior savings account
 and give them the savings passbook in a red packet.

The gesture might confuse them but you can always explain to them the significance of getting a substantial amount of money in an account for their future. If they already have a savings account – put the additional
ang pow
 money in the bank and give them a print-out of their balance. The large sum of accumulated savings may actually be more exciting than a small amount in a packet.

A Fixed Deposit For Your Parents

If you are considering an
ang pow
 for your parents; why not give the gift that keeps on giving?
Fixed deposit accounts
 start as low as RM500 depending on the bank. If the minimum amount is too steep; you can always give together with your other siblings for one big gift that counts.

The fixed deposit can be left in the account to earn interest and provide a savings’ cushion for your parents (especially if they are retired) during their golden years.

An e-Ang Pow to Save Hassle

Have you tried queuing at a bank in attempts to get crisp RM1-5 notes before Chinese New Year? The experience isn’t exactly the most fun. Many banks run out too quickly thanks to the demand – so what are you to do if it’s the eve of CNY and you haven’t the change for your
ang pows
?

Maybank has just recently launched their
e-Ang Pow service
 that can be accessed from your Android device (not available on Apple devices as yet). All you need to do is enter the phone number and name of your recipient and you’re done!

You can send to up to a maximum of five recipients in one transaction. After you’ve completed the process with the desired amount, you will receive an SMS code which you can forward to your recipients.

No more queueing for change and putting notes into packets – do it the easy way.

A Gift of Blessings from the Heart

The act of giving an
ang pow
 is to give the recipient blessings of luck, and prosperity. No matter if you do this with a modern twist or the good old-fashioned way with cash in a red packet; the intention and well-wishes remain the same.

With that, we hope you have a warm and wonderful Chinese New Year gathering with your loved ones this 2016.

If you were curious about the meaning behind the
CNY
ang pow
; we’ve got just the article for you. Also, if you’re stuck in line waiting for those new, crisp ringgit notes with nothing to do; check our light-hearted look other things you can fit into a
CNY
ang pow
 packet
.

If you were to put in an alternative to cash in your
ang pow
 packet this year; what will it be? Let us know in the comments!

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Diana Chai

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