Property Prices in Malaysia: Can You Afford Them?

Are you planning to buy your first bachelor pad or a home for your family? We didn’t mean to throw cold water on your property dreams but you might want to think about whether you really can afford it. For the past few of years, property prices have bloated beyond high. In the first quarter of 2014 alone, prices increased by a staggering 8%.With such numbers, we like everyone else, wondered if we could truly afford to buy a house.

Millennials (those who are born in the year 1980’s to 2000s) are now known as “homeless generation” because stagnant wages and sky-rocketing property prices render it almost impossible for them to afford a down payment much less qualify for a home loan.

Although
last year Malaysians were promised measures
 that would eradicate the problem; one year on and a day away from the new budget; the
situation appears unresolved
 as property flippers and speculators continue to buy out cheaper new developments the minute they go on sale. But even if you could find a lower priced property – could you really afford it?

We did some number crunching.

The First Time Buyer Case Study

At 30 years old, Irene has an RM4,000 take home salary. She has been hunting for a new home. She prefers to live within the vicinity of Kuala Lumpur so it would be convenient for her to go to work. After browsing a few properties recommended by an agent, she is deciding between two options: a low cost flat and a middle range condominium.

Flat A costs RM130,000 whereas Condominium B costs RM340,000. Discounting other loan obligations, we sought to calculate which would be a better option in terms of affordability.

Flat A

Downpayment:
RM13,000

Legal fees:
 RM1,300

MOT* Stamp duty:
 RM1,600

Valuation report fees:
 RM700

Loan Agreement and Stamping fees:
 RM1,950

Total initial payment: RM18, 550

Monthly loan repayment (
at interest of 4.65% 20 years tenure)
: RM749.41

Affordability
: RM4,000-RM749.41=
RM3250.59

Condominium B

Downpayment:
 RM34,000

Legal fees:
 RM2,830

MOT Stamp duty:
 RM5,800

Valuation report fees:
 RM700

Loan Agreement and Stamping fees:
 RM2,592

Total Initial Payment: RM45,922

Monthly loan repayment
 at interest 4.65% with 20 years tenure :
RM1,960.77

Affordability
: RM4000-RM1960.77=
RM2039.23

Based on the example above, regardless whether Flat A (low cost flat) or Condominium B (a middle-range) is chosen, Irene will need to have enough cash on hand to pay the initial down-payment and miscellaneous fees. MRTA/MLTA is not included in the calculation as it is optional coverage. However, a larger number of homeowners choose to take it rather than forego it.

For those of you who didn’t know, MRTA/MLTA  are two types of mortgage insurance policies which provide protection on your loan sum should you pass on. This means that should you pass away before completing loan payments; the insurance will cover the remaining amount for you as per the terms of the policy. The premium payable varies and it is possible to include the sum into your loan amount should you find you don’t have the extra cash to pay for it (this is of course subject to loan approval based on available income).

Looking at the figures above, if Irene chooses
flat A,
 she will have an additional RM3,250 to spent on household expenses. On the flipside; choosing condo B means having a down-payment of RM45,922
on hand
 and being left with  RM2,039.23 for the rest of the month after paying off her monthly loan obligation. What this means is that by and large; a person earning can RM4,000 can actually purchase an RM300,000 property… if they are able to foot the down-payment!

Is RM300,000 a realistic property price point?

As compared to 10 years ago, you wouldn’t get a middle-range terrace in the Klang Valley for less than RM200,000 today. But what if you were willing to live elsewhere in the country? After all, prices do vary and a middle range terrace in Penang would be double the price of one Kedah, for example. In order to get somewhat of an idea about prices around Malaysia; we took 6 states and three types of property to compare.

Low Cost Flat

Location

Purchase prices

Rent prices

Kuala Lumpur

RM128,000

RM1000

Selangor

RM120,000

RM700

Johor

RM98,000

RM650

Penang

RM150,000

RM750

Kedah

RM75,000

RM350

Sabah

RM160,000

RM750

Middle Range Condominium

Location

Purchase prices

Rent prices

Kuala Lumpur

RM340,000

RM1400

Selangor

RM320,000

RM900

Johor

RM328,000

RM1500

Penang

RM390,000

RM800

Kedah

RM220,000

RM850

Sabah

RM535,000

RM1250

Middle range Terrace

Location

Purchase Prices

Rent Prices

Kuala Lumpur

RM520000

RM1200

Selangor

RM450000

RM1300

Johor

RM550000

RM600

Penang

RM440000

RM1400

Kedah

RM200000

RM600

Sabah

RM475000

RM1500

*Prices are correct as at 2 October 2014.

Can you afford to buy a house?

Research showed us that there are still some properties one can buy without the RM10,000 salary but the place may not be as strategically located nor the house itself as aesthetically pleasing (meaning nice looking!) as some might like. But if we’re asking the simplistic question, “Can you afford a house?”

The real answer is actually very subjective and dependent on many other factors like the availability of a down-payment and number of dependents. Someone in Irene’s position could easily afford the mid-range condo but the same wouldn’t be said if say, she had 2 children to single-handedly feed and care for. What cannot be denied is that even if people are able to afford the payments on paper – it’s evident that inflation and the reduced spending power of Malaysians due to inflation and subsidy cuts will have a serious impact on if you are able to continuously meet your loan payments.

And the most important question in the test of home ownership affordability should essentially be “can YOU; considering your financial responsibilities and income; meet all payments thereonafter?

0

0

votes

Article Rating

SHARE

TAGS:

Home Ownership

MLTA

MRTA

About THE AUTHOR

Denise Chan

Denise Chan

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


Celcom Launches Celcom MAX, A Home Fibre Broadband And Mobile Postpaid Combo

Celcom Axiata Berhad (Celcom) has launched the Celcom MAX, a new offering that combines selected home fibre broadband plans with a mobile postpaid internet plan in one bill at a special price. With this, Celcom customers can expect to enjoy a variety of benefits, including seamless high-speed connectivity, monthly rebates for a lifetime, and enhanced convenience both at home and while on the go.

Specifically, Celcom MAX brings together its Celcom Home Fibre unlimited fibre internet plans (valued at RM120 and above, 24-month contract) and MEGA postpaid plans (valued at RM80 and above) into one standalone plan with a single bill. Once combined, you will be able to enjoy a monthly saving of RM21 throughout the entire subscription period. There are four Celcom MAX packages that you can choose from:

Package

Price

Offering

Package 1

RM179 (original price RM200)

Celcom Home Fibre 100 Mbps (Unlimited) + Celcom MEGA 40GB with unlimited calls to all networks

Package 2

RM199 (original price RM220)

Celcom Home Fibre 300 Mbps (Unlimited) + Celcom MEGA 40GB with unlimited calls to all networks

Package 3

RM259 (original price RM280)

Celcom Home Fibre 500 Mbps (Unlimited) + Celcom MEGA 40GB with unlimited calls to all networks

Package 4

RM279 (original price RM300)

Celcom Home Fibre 1 Gbps (Unlimited) + Celcom MEGA 40GB with unlimited calls to all networks

On top of the monthly savings for a lifetime, you will also be entitled to a free AX router for your home, as well as unlimited access to free entertainment content from iflix, iQiyi, or dimsum for six months. Celcom noted that a third entertainment streaming option will be offered soon to replace dimsum, which will terminate its services in September this year.

Additionally, if you subscribe to Package 3 or 4, you can obtain a pair of Celcom Mesh Wi-Fi for free – a technology that helps to expand your home wi-fi and reduce signal weak spots and dead zones. Meanwhile, those subscribing to Package 1 and 2 will need to pay RM25 to get the Mesh Wi-Fi units for 24 months.

If you’ve been looking to upgrade your devices or hardware, the Celcom MAX package also comes with add-on deals that let you save up to 50% on the purchase of an Android TV or a Microsoft Surface laptop. The Sharp 42” Android TV is being offered at a discounted price of RM1,200 (normal price RM1,749), whereas the 60” Android TV is going at RM2,400 (normal price RM4,999). These can be purchased on instalment for RM100/month, over a period of 12 months and 24 months, respectively.

As for the Microsoft Surface laptops, the Microsoft Surface Go 2 and Microsoft Surface Pro X are both going at RM3,400 and RM5,800, respectively, instead of their usual prices of RM4,033 and RM6,438. These can also be paid via instalment, with payment for Microsoft Surface Go 2 set at RM142/month, and Microsoft Surface Pro X at RM242/month – both for a period of 24 months.

According to the chief executive officer of Celcom, Idham Nawawi, Celcom MAX was conceived in response to the public’s growing engagement within the digital ecosystem. “The all-new Celcom MAX is the one-stop home and mobile solution that is specially designed to meet the needs of our customers. Offering seamless, reliable, and consistent Internet experience anytime, Malaysians of all walks of life can maximise their unique digital lifestyles by attending online meetings, classes, stream entertainment videos, play games online, or even just to browse the web for the latest information,” he said, adding that it is perfect for households of any size.

If you’re interested in signing up for Celcom MAX, you can tap into an introductory promotion where the first 100 subscribers will get their first month bill waived. Subscription can only be carried out at Celcom’s bluecube and contact centre, or with certified partners/home dealers. Alternatively, you can find out more about
Celcom MAX and the offer
 on the telco’s website.

0

0

votes

Article Rating

SHARE

TAGS:

Broadband Plans

Celcom

Celcom Axiata Berhad

Celcom Home Fibre

Celcom MAX

Celcom MEGA

Celcom Mesh Wi-Fi

dimsum

Idham Nawawi

iflix

iQiyi

Microsoft

Microsoft Surface

Microsoft Surface Go 2

Microsoft Surface Pro X

Postpaid Plans

Sharp

Sharp Android TV

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.

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


Tiered Petrol Subsidy: The More You Earn the Less You're Allowed to Drive

All of the internet is already abuzz about the new proposed tiered system for fuel subsidy. The plan (confirmation for which just may rear it’s ugly head in the announcement of Budget 2015 come October 10th), sets to limit how much subsidised petrol you can buy based on your income and usage (and possibly even engine capacity of car).

The move is said to save the government almost RM10 billion a year in subsidy payouts which is claimed to be better used elsewhere (like in
jet fuel to fly ministers everywhere?
 Would their fuel ‘subsidies’ be cut too?) without affecting the target low income group. The new tiered system will see all eligible Malaysians presented with a 1Malaysia Fuel Card which will then track their fuel spending and subsidy entitlement. Of course, you guessed it, to even get the card in the first place your income will be checked and verified to make sure you’re really in the low income group.

The Petrol Saga (not Proton Saga) Malaysian Style

Petrol subsidies have been a contentious issue awhile now. Since the increase in price due to the
lowering of subsidies last year
; many blatant hints have been dropped (so blatant they probably qualify as hints just as much as the existence of
human trafficking in KL
 does) that the subsidies will eventually be done away with once and for all. Subsidies in general are said to eat heavily into government coffers and this is supposedly affecting the overall development of the country’s economy.
The World Bank is said to support the move
 to further rationalise subsidies in the country.

Fuel prices have been steadily rising with
RON 97 fuel already on a managed float
 with prices not far from it’s actual price point in the open market. Nonetheless, there is little doubt that fuel in Malaysia is cheaper than other countries both within and outside of Asia (that said however, cheap fuel isn’t really any indication of the true picture of the financial situation of Malaysians in general as a lot more analysis is necessary such as comparative wages and the prices of other living needs).

What Will the Petrol Tier Look Like?

Reports say the system will be four tiered.Everyone is still hazy on the details but it seems to be a consensus that the system will be tiered.
Some sources say
 it will be based on income level; with those earning above RM10,000 being completely ineligible for subsidised fuel; those earning between RM5,000 to RM10,000 to be limited to 300 litres per month and an uncapped amount for those earning below RM5,000.

Other sources point to a tiered system based on usage but the quantum and income range for which is yet to be set. ICASH managing director Roslan Nyak Kassim
told the NST
:

Under the proposed system, every verified registration would be alloted a weekly subsidy entitlement. The quantum is for the government to decide.

It would also allow the authorities to monitor, on screen, all fuel purchases at petrol stations and stand alone pumps, in real time.

He said the MTPS system would leverage on a four-tier system in allocating the entitlement for the subsidy, where the maximum amount of fuel in litres would be set with the subsidised pricing.

“For Tiers 1 and 2, a weekly quota of subsidised fuel will be allotted to the target groups, whereas for Tier 3, fuel is sold to non-target groups at cost price.

“Tier 4 is for foreign-registered vehicles, where the pricing will be determined by the government.

“The target group on Tier 1, who exceed their quota, will automatically move up to the next tier.

“Any unutilised portion of the quota for the week will be automatically forfeited.

“If individuals or commercial vehicle owners need more than the allotted quota, they will be required to pay at the next subsidised price or at the non-subsidised price when they have exhausted their subsidy entitlement,” he said.

Proposals are still forthcoming from the various agencies involved and the actual plan may look like a mash-up of both the proposed schemes above. Whatever is decided – there seems to be a clear message – the more money you earn; the more you are expected to stay home to count it. We’re kidding. Well, partly.

Will The Fuel Subsidy Happen?

As newspapers are already
pushing the views of supporters to the fore
 (a terribly un-veiled attempt at garnering more support) ahead of Budget 2015; the rumbling may difficult to deny at this point. Despite the fact that a tiered system was
once rejected all the way back in 2010
; it seems unlikely the rakyat will dodge this fueled bullet again.

Get your weekly updates on the
latest petrol price
s with us.

*Information on the tiered system at this time is conjecture based on available sources. Confirmation and exact details for the plan will be announced when they become available.

0

0

votes

Article Rating

SHARE

TAGS:

CIMB Petronas Platinum

Fuel Subsidy

Government News

Petrol

Petrol Prices

Petrol Subsidy

RON95

About THE AUTHOR

Diana Chai

Diana Chai

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


RHB, PayNet Join Hands In “Marih Go Cashless in Bario” Campaign in Sarawak

(Image: The Star)

RHB Banking Group has launched its Marih Go Cashless in Bario campaign in Sarawak, which aims to accelerate the adoption of digital financial services within the Bario community. The first of its series of Go Cashless campaigns, the programme is also carried out hand in hand with Payments Network Malaysia (PayNet) as part of PayNet’s ongoing Cashless Kampung Project.

According to RHB, the campaign will provide the Bario community with convenient access to various banking solutions, including account opening, DuitNow services, and MyDebit transactions. These digital solutions will enable more residents to enjoy cashless transactions, which in turn, will also help spur the growth of local economic activities in the area.

RHB further said that various activities have also been lined up to spread awareness as to how local individuals and merchants can benefit from the adoption of digital payments. For its upcoming activities, a cashless Bario bazaar will be held at the end of September, where the bank targets to equip 200 local merchants and residents with DuitNow and MyDebit services.

(Image: Bernama)

The group managing director and group chief executive officer of RHB Banking Group, Mohd Rashid Mohamad, highlighted that the Marih Go Cashless in Bario campaign is part of the group’s continued efforts in enabling greater financial accessibility for underserved communities. This is in addition to RHB’s ongoing Mobile Automated Teller Machine (
RHB Mobile ATM
) service that
currently provides
 basic banking services to underserved communities in Oya, Igan, Balingian, Asajaya, and Sadong Jaya in Sarawak.

Meanwhile, the group chief executive officer of PayNet, Farhan Ahmad, commented that PayNet solutions, such as MyDebit and DuitNow, will enable Bario’s farming community and small businesses to tap into the convenience of digital solutions. This will also allow them to access a broader digital ecosystem.

(Image: Bernama)

“Unlike previous collaborations which involved non-urban areas in Peninsula Malaysia where digital infrastructure is readily available, Bario is in the remote highlands of Sarawak with limited connectivity,” Farhan further said, referring to PayNet’s collaborations with other financial institutions in its Cashless Kampung Project.

Earlier in July, PayNet partnered with Hong Leong Bank to launch its first
Cashless Kampung Project in Sekinchan
, Selangor. It then also collaborated with Touch ‘n Go (TNG) eWallet to launch a
Mai Kita Cashless campaign in Changlun
, Kedah, focusing on the communities in Kampung Baru Changloon, Kampung Paya Nongmi, and Kampung Tradisi Lembah Keriang. The Marih Go Cashless in Bario campaign with RHB is PayNet’s third launch in this project.

(Sources:
RHB
,
The Star
)

0

0

votes

Article Rating

SHARE

TAGS:

Cashless Kampung Project

Cashless Payments

Contactless Payments

DuitNow

Farhan Ahmad

Go Cashless

Mohd Rashid Mohamad

MyDebit

Payments Network Malaysia Sdn Bhd (PayNet)

PayNet

Project Cashless Kampung

RHB

RHB Bank

RHB Banking Group

RHB Mobile ATM

About THE AUTHOR

Nur Adilah Ramli

Nur Adilah Ramli

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


Two Mosques Now Accept Cashless Donations Through QR Codes

As efforts to encourage cashless transactions in Malaysia increase, some traditional locations have begun to embrace new technology. Last weekend, two mosques,
Masjid Al-Fatah in Subang Jaya
 and
Masjid Jamek in Kuala Lumpur
, announced that they now accept donations via e-wallet apps using QR codes. The mosques’ move to accept digital donations are the initiatives of two banks: Bank Muamalat and RHB Bank.

(Image: NST)

Masjid Al-Fatah worked with Axiata Digital and RHB Bank for its cashless donation drive. Visitors to the mosque can donate to Masjid Al-Fatah by scanning the QR code displayed at the mosque with the Boost app, a homegrown e-wallet app by Axiata Digital, and is available on both the
Google Play Store
 and the
Apple App Store
.

Meanwhile in Kuala Lumpur, the popular Masjid Jamek also announced that visitors can donate digitally via QR codes. This initiative is a collaboration with Bank Muamalat’s eDerma campaign. According to Bank Muamalat Malaysia CEO Datuk Mohd Reza Shah Abdul Wahid, visitors just need to use the i-Muamalat app to scan the mosque’s QR code and use the e-wallet feature to make their donations directly to the mosque’s bank account. The i-Muamalat app is available at the
Apple App store
 and the
Google Play Store
.

These two mosques won’t be the only ones accepting cashless donations. Datuk Mohd Reza added that Bank Muamalat has identified over 250 mosques and surau to participate in the eDerma campaign in the next six months.

(Image:
Arifh Rafhan Othman
 )

Donating money to mosques using e-wallet apps is a welcome disruption. Cashless donations provide lots of convenience both to the mosques and its visitors. For the mosques, cashless donations eliminate the risk of theft or misplacement, while visitors don’t have to carry large amounts of cash with them to donate.

These initiatives by RHB Bank and Bank Muamalat are definitely a good step to encourage Malaysians from all walks of life to embrace cashless transactions, and is another example of financial institutions using technology to benefit society. They also align well with the Bank Negara Malaysia’s goal of becoming a cashless society by 2050.

(Sources:
NST
,
The Star
)

0

0

votes

Article Rating

SHARE

TAGS:

Cashless Payments

Charity

Digital Wallet

Donations

e-Wallet

About THE AUTHOR

Brian Chung

Brian Chung

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


AEON Auto Billing & E-Wallet Campaign Offers 3% Cashback For Credit Cardholders

AEON Credit is holding an auto billing and e-wallet campaign for all its AEON credit cardholders, offering 3% cashback capped at RM30 per month throughout the promotion period. The campaign is running for three months from 15 September to 15 December 2020.

The campaign allows you to earn 3% cashback when you perform auto billing transactions for phone bills or utility bills, and/or when you link your AEON credit card to top up participating e-wallets during the campaign period. The eligible transactions for this campaign are listed below:

Category

Description

Phone bill

Digi, Maxis, Celcom, U-Mobile, RedONE, TM/Unifi

Utility bill

Water bill, TNB bill

Cable TV

Astro

E-wallet top-up

Touch ‘n Go, Grab, Boost, Lazada top-up, ShopeePay top-up

AEON Wallet payment

AEON Wallet

According to AEON Credit, transactions via AEON credit card QR Pay for the AEON Wallet will be considered eligible for cashback. However, for the rest of the e-wallets, only card-linked top-ups using your AEON credit card will qualify.

In addition to the cap of RM30 per month per cardholder, AEON Credit has also determined a cashback pool for this campaign. The cashback pool for each month is set at RM35,000 and runs from 15 September to 15 October, 16 October to 15 November, and 16 November to 15 December. The cashback fulfilment for each campaign month will be carried out in December 2020, January 2021, and February 2021, respectively.

You can find out more about the
AEON Auto Billing & E-Wallet 2020 Campaign
 here and more about
AEON credit cards
 here.

0

0

votes

Article Rating

SHARE

TAGS:

AEON

Aeon Credit

AEON Credit Card Cashback

AEON Credit Cards

Auto Billing Cashback

Cashback Campaign

E-Wallet Cashback

About THE AUTHOR

Jacie Tan

Jacie Tan

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


Government To Increase Private Clinic Consultation Fees By Year End

(Image:
Malay Mail
)

A proposed fee amendment on consultation fees charged by private clinics may see patients paying a similar amount as consultation fees charged by private hospitals, which may go into effect by the end of this year.

The government will review consultation fees for private general medical practitioners (GPs), with Health Minister Datuk Seri Dr Dzulkefly Ahmad saying the fee amendment proposal will be tabled at the next National Cost of Living Action Council meeting before it is presented to the Cabinet for endorsement. “It’s a matter of time,” Dzulkefly told the press after a town hall session in Putrajaya.

Under the proposed amendment, the consultation fee for private clinics would be similar to those charged at private hospitals, which follow a time-based consultation fee that range from RM30 to RM125. RM30-RM50 may be charged for simple consultation of up to 10 minutes, RM51-RM80 for intermediate consultation (up to 20 minutes), and RM81-RM125 for complex consultations that last more than 20 minutes.

Currently, the consultation fees for private clinics are set at RM10-RM35, a fee structure which has not changed since 1992. On the other hand, private hospitals may charge between RM30 to RM125 for consultation fees under the 7
th
 Schedule of the Private Healthcare Facilities and Services (Private Medical Clinics and Private Dental Clinics) Regulations 2006.

Medical associations and GPs nationwide are pushing for the amendment because the consultation fee structure for private clinics has been stagnant for 27 years, even though a harmonisation of fees between private clinics and hospitals had been agreed upon since 2013, according to Malaysian Medical Association president, Dr Mohamed Namazie Ibrahim. In 2018 alone, over 300 clinics in the country had to close down due to rising operating costs.

(Source:
The Sun Daily
,
The Star
)

0

0

votes

Article Rating

SHARE

TAGS:

Healthcare

Ministry of Health

About THE AUTHOR

Hayatun Razak

Hayatun Razak

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


MSIG Launches EZ-Mile Motor Insurance Add-On To Offer Mileage-Based Plans

MSIG Insurance has rolled out a new add-on called EZ-Mile for some of its comprehensive private car insurance plans, allowing both new and existing policyholders to purchase mileage-based usage plans. It seeks to offer flexibility to those who only clock in low mileages each year, enabling them to save on the premium paid via packages that match their car usage without missing out on the benefits offered by MSIG’s comprehensive motor insurance.

In a statement, MSIG explained that policyholders can choose from three mileage plans via this add-on – 5,000km, 10,000km, and 15,000km (per annum) – which are applicable to the following comprehensive private car insurance plans:

MSIG Private Car Comprehensive Policy

MSIG Private Car with Drivers PA

MSIG Motor Plus

MSIG Lady Motor Plus

Coverage provided under the EZ-Mile add-on include third-party bodily injury or death, third-party property loss or damage, loss or damage to your own car due to accidental fire or theft, and loss or damage to own car due to accident. That said, these benefits may change slightly down the road, depending on whether you are still within the total mileage allocated under your plan, or if you have exceeded them. Here’s a quick summary for your reference:

 *Burglary, housebreaking or theft is covered under certain conditions

As for costs, MSIG highlighted that there will be no additional premium incurred with the add-on. Rather, you will save on the premium, as shown in the following comparison provided by the insurer:

As you may have noticed in the visual above, policyholders will also have the option to top up on their mileage if they find themselves unexpectedly in need of additional mileage for the year, or may exceed the total mileage that is allocated under their plan. You can do so at the price of RM77 for an additional 3,000km (not inclusive of SST), for an unlimited number of times during the period of your coverage.

If you do tap into the MSIG EZ-Mile add-on, you will also receive a wireless, Bluetooth-enabled device called Microtag at no charge (although there is a replacement fee of RM90 in the event of any loss or damage). This device – which will be used to measure your mileage – must be fitted into your car and paired to an app that you are required to download onto your smartphone.

The app will not only keep you informed of your remaining mileage, but also prompt you with reminders to top up on your mileage if necessary. Other features within the app include:

Safe driving alerts
, which warn you when you are texting while driving above the speed of 20km/h

eCall feature (Automatic Accident Alert & Emergency Response)
, which automatically calls for assistance when it detects an impact or accident

bCall feature (Concierge Emergency)
, which lets you get in touch with MSIG’s 24-hour assistance hotline in the event of a car breakdown

Chief executive officer of MSIG Malaysia, Chua Seck Guan said that the new EZ-Mile add-on will give people a good reason to drive less, and as such, reduce their carbon footprint. He also said that this is in line with MSIG’s support of the United Nation’s Sustainable Development Goals (SDGs), particularly SDG13 (Climate Action).

“In addition, we are also aware that driving behaviours have changed over the past few years primarily due to changing employment models. We recognise this trend and being responsive to customer needs, created this innovative add-on to let car users pay a premium based on how much they drive, while still providing all the benefits of a comprehensive insurance coverage. We hope this will go some way to lightening the burden of Malaysian road users,” Chua further said.

(Source:
MSIG
)

0

0

votes

Article Rating

SHARE

TAGS:

Car Insurance

Car Insurance Coverage

Chua Seck Guan

Comprehensive Car Insurance

Motor Insurance

Motor Insurance Add-Ons

MSIG EZ Mile Add-On

MSIG Insurance

MSIG Lady Motor Plus

MSIG Microtag

MSIG Motor Plus

MSIG Private Car Comprehensive Policy

MSIG Private Car with Drivers PA

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.

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


Southern Score Rewards Badminton World Champions Aaron & Wooi Yik With RM100,000 Incentive

Construction management services company Southern Score Sdn Bhd has rewarded top shuttlers, Aaron Chia and Soh Wooi Yik with an incentive of RM100,000 for winning Malaysia’s first gold at the World Badminton Championships in Tokyo last month.

Executive director and chief executive officer of Southern Score, Gan Yee Hin said that the reward was presented to both Aaron and Soh as a token of appreciation for their dedication and hard work. “We believe this world title is just the beginning of their badminton journey,” he said, adding that Southern Score is also contributing RM200,000 to Petaling Badminton Club (PBC) – where Aaron and Soh first hailed from before joining the national team.

“We hope that the contribution provides some support as they nurture talents to represent the country. PBC has had a history of producing several of the country’s well-known players, such as Chen Tang Jie, Cheam June Wei, Man Wei Chong, and Goh V Shem,” said Gan.

Meanwhile, Aaron and Soh said that they are grateful for such incentives, and support such as these will motivate them as they prepare themselves mentally and physically to win more accolades for Malaysia. This includes striving towards the upcoming 2024 Olympic Games.

For context, Aaron and Soh made history by scoring Malaysia’s very first win at the World Badminton Championships 2022, defeating three-times world champions Mohammad Ahsan and Hendra Setiawan from Indonesia.

0

0

votes

Article Rating

SHARE

TAGS:

Aaron Chia

Gan Yee Hin

Petaling Badminton Club (PBC)

Soh Wooi Yik

Southern Score

World Badminton Championships

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.

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


Pos Malaysia Resumes Road Tax, Driving Licence Renewal Services Starting Today

(Image: Bernama)

The public will be able to renew their road tax and driving licence at Pos Malaysia once more starting from today (9 August 2021) following its resumption of such services. Customers are, however, required to first make an appointment.

According to a statement by Pos Malaysia, customers can book their appointments through either its official website (via the Outlet Finder feature) or the Pos Malaysia mobile app. It said that the appointments are necessary to avoid overcrowding at their premises.

“A customer is permitted to book only one appointment slot per day and perform a maximum of three transactions per appointment,” said Pos Malaysia.

Pos Malaysia also reminded customers to adhere to standard operating procedures (SOPs) such as wearing a face mask, checking their body temperature, scanning the MySejahtera code, and maintaining the one-metre physical distancing rule. Additionally, the public is urged not to visit Pos Malaysia’s outlets if they are feeling unwell or experiencing any Covid-19 symptoms.

Pos Malaysia’s announcement came at the heels of the Road Transport Department’s earlier reminder that all road users are required to
renew expired their licences
 by 30 September 2021. Moreover, no further extensions will be provided to the current grace period.

For those with enquiries or feedback, you can reach out to the national courier service through AskPos on its
website
 or via the Pos Malaysia mobile app.

(Source:
The Star
)

0

0

votes

Article Rating

SHARE

TAGS:

Driving Licence

Driving Licence Renewal

Jabatan Pengangkutan Jalan

JPJ

Pos Malaysia

Road Tax

Road Tax & Insurance

Road Tax Renewal

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.

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


How SNS OnePlan™ Makes It Affordable To Purchase Devices In Bulk

Businesses, regardless of industry, will face their fair share of challenges especially in today’s time where everything is moving and evolving at a rapid pace.

One of the decisions that business owners need to make, especially at the beginning of their operations, is deciding on what kind of digital devices their employees will be supplied with. Many factors need to be considered before selecting the right device, such as what kind of software employees are expected to run, whether they will be multitasking heavily, what kind of display requirement is needed, and more.

While simply purchasing devices based on recommendation is simple, selecting the right mix of devices that meet your budget and needs, maintaining them, and servicing them is not. In fact, many may be short-sighted and often forget the after-sales care and attention devices may need. It’s not just one or two that may require immediate bug fixes, it may be a much larger number at the same time.

If you’re interested in a one-stop solution designed to ease the device lifecycle management for your business, perhaps SNS OnePlan™ might be of interest to you.

Buying laptops and PCs for the business will clearly be a big spend for every company. Why not choose a plan that frees up your team’s time? With SNS OnePlan™, your IT department can focus on more important tasks while a team of specialists look after and maintain the devices’ lifecycle.

To enjoy the JOI Book 143 Pro® for as low as RM1/day, all you need to do is sign up for SNS OnePlan™ and purchase a minimum of 20 devices over a subscription period of 3 years. Sign up before 31 March 2023 to enjoy this deal!

Click here to learn more about SNS OnePlan™
.

0

0

votes

Article Rating

SHARE

TAGS:

business solution

DaaS

Device as a Service

digital technology

IT solution

SNS Network

SNS OnePlan

About THE AUTHOR

Lisa Ameera Azman

Lisa Ameera Azman

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


9 Reasons to do ALL Your Shopping Online

Be honest, right now you’re on the internet just for fun. We do it too, don’t worry. Of course, there are other things we do online as well like banking, sending mail, sharing cat .gifs, and even shopping.

Yes, that occasional chore we all do to maintain our daily upkeep (or just to have new stuff, really) can now be done over Wi-Fi. It’s fast, it’s easy, and super accessible. But just in case you’re not sold on online shopping, here’s what you’re missing out on:

1. You Don’t Have to Wear Pants

Some days you just want to lie in bed and do nothing, am I right? Shower? Breakfast? Underwear? What are you, Beyoncé? Just sink back into your blankets, pull out your phone, and start shopping for that birthday gift you’ve been meaning to get your grandma, all in last night’s clothes.

2. You Can Do Better Research

When you’re at a mall sometimes you think, “I could’ve sworn they have that cheaper at XY store”. But XY store is a half an hour’s drive away and you’re not even sure if they have the same thing in stock that day. What about AB store? They might be having a better sale as well, 40 minutes downtown. Ugh. But with online shopping, all the information about everything is always there on your screen and you can read all the reviews you want to really be sure of what you’re buying.

3. You Can Multitask While Shopping

You’re multitasking right now, we bet. With your multiple tabs on your browser, emailing, and researching, and coordinating a dinner party or what have you. With online shopping on your phone you can even shop while cooking, working out, or doing laundry. How’s that for multitasking?

4. You Save on Travel

So maybe you enjoy walking around in a mall and don’t mind getting dressed. You still have to drive there. And depending on how far the stores are or how many places you want to go to that day, you’re looking at paying for petrol, tolls, and parking fees. Not to mention dealing with the traffic and looking for parking in the first place, yikes. Might as well stay home.

5. You Don’t Have to Socialize

Ideally, shopping is where you get to look at stuff, choose a thing, and buy it. Sometimes that’s all you want to do. But getting into an outlet with overly friendly greeters or stalkery sales assistants can feel daunting. Maybe you don’t
want
 to have a good day. Or you don’t feel like smiling. Or using your voice. It’s not that you hate people, you just had enough of them for the week perhaps. Online shopping is the way to go, in that case.

6. You Save on Time

Amazon has this thing called
1-Click Ordering
 (other sites implement a similar feature as well) where they make it super easy to get the products you want without having to go through carts or lists or entering details too many times. It’s
one
 click guys. Just to keep things in perspective, you click
twice
 to open a file. There literallly is no way for shopping to be faster than that. Unless you have a time machine.

7. You Don’t Have to Carry Anything

Another lousy thing about shopping at stores is you’re limited by what you can physically carry. Nobody looks sexy carrying shopping bags and making multiple stops on the way to the car park because they’re too heavy. With online shopping they send you what you bought right to your office or home. You don’t even have to carry it up the stairs, and nobody needs to know you haven’t hit the gym in months.

8. You Get Less Distracted

It sounds counter-intuitive, saying that the distractifying timesink that is the internet can actually distract you
less
, but hear us out. When you’re shopping online, you’re only searching for the items you already did your research on and are prepared to purchase. When you’re out and about in a store, you have to walk past all the other things those other people are trying to sell to you. You walk into a mall wanting a power bank and you walk out with an entirely new wardrobe, new hair and two lunches in your belly. Not good.

9. Everything is For Sale on the Internet

We already know you can buy
clothes
,
cars
,
books
,
electronics
, and
digital media
 online. But did you know you can buy an
astronaut suit
, a
private island
,
your own castle
, a title of Nobility (Count, Knight, Lady, Baron), and your
weekly groceries
 online? Well now you do. The future is here, friends.

What other reasons would you go shopping online rather than out to the store in the real world? Let us know in the comments below!

0

0

votes

Article Rating

SHARE

TAGS:

1-Click Ordering

Amazon

Consumer Behaviour

E-Commerce

E-Commerce Platforms

About THE AUTHOR

Ahmad Mudhakkir

Ahmad Mudhakkir

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


BigPay Credit Card Top Ups Reduced To RM2,500 Starting Tomorrow

Starting tomorrow, BigPay will cap the maximum amount for top-ups using credit cards to just RM2,500 – half the amount from the most recent revision just three months ago.

In an email sent to users just a few moments ago, BigPay stated that this revision will go live starting tomorrow, 2 June 2020. As it stated in the
March update
, the reason behind this revision seems to be the credit card fees that BigPay absorbs. In fact, the email from today is basically a carbon copy from the one sent in March:

Dear Pang,

We are changing our fair usage policy for top-ups using credit cards. From June 2nd, we will be reducing the monthly limit for credit card top-ups to RM 2,500.
Topping up via debit cards and online banking will remain unlimited and we encourage you to continue using these sources. We’re also working to introduce new top-up methods in the coming weeks so you can have more choice when topping up your BigPay.

At BigPay, we’re committed to offering you fair financial services. We do this by keeping our costs low and passing the savings onto you. However, credit card companies charge us fees – that we absorb – so that our customers can have more options for top-ups. We will continue to do this to make it fair for all our customers to use our basic products and services at low / no fees.

Thank you for your support.

Team BigPay

As can be seen in the email above, the “new top-up methods in the coming weeks” hint is still there. While it isn’t confirmed what exactly it may be just yet, it is strongly believed to be
the support for PayNet’s DuitNow
, allowing users to transfer funds from virtually any savings or e-wallet account that supports DuitNow.

Debit card and online bank transfers will remain unchanged, with no transfer limit.
Unlike the last revision though
, it looks like BigPay is giving users one last opportunity to reload up to RM5,000 into their accounts using credit cards.

3.3

3

votes

Article Rating

SHARE

TAGS:

BigPay

DuitNow

PayNet

About THE AUTHOR

Pang Tun Yau

Pang Tun Yau

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

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


EPF i-Sinar Application Begins Today For Members In Category 1

Application for the Employees Provident Fund (EPF) i-Sinar facility is now open for individuals who fall under Category 1. Starting from today, eligible members can visit the official i-Sinar website to apply online.

As explained earlier by the EPF, applicants who belong to Category 1 are described as:

Members who have not contributed to the EPF for at least 2 consecutive months on application, OR

Members who are still working but have suffered a reduction of their
base salary
 by 30% and above from March onwards

Among some of the members who fall under this category include workers in the formal sector, self-employed individuals and workers in the gig economy, those who have lost their jobs or were forced to take unpaid leave, as well as housewives.

(Image: Focus Malaysia)

In a bid to help these applicants with their i-Sinar application, the EPF has prepared a detailed
step-by-step guide
 on how to go about the process. Briefly, these are the steps that you’re required to take:

On the official i-Sinar website, fill in your MyKad/MyPR number and mobile number.

Fill in the OTP number sent to your mobile phone or answer a security question for identity verification purposes.

Set the total amount that you wish to withdraw via the i-Sinar facility, as well as the amount that you’d like to receive as your first payment.

Fill in other required personal and payment information.

Check and confirm your details, then submit your application.

(Image: The Star/Azman Ghani)

Meanwhile, the i-Sinar application for individuals in Category 2 will begin on 11 January 2021. Members who fall under this second category are those whose
total income
 has been reduced by 30% and above (total income including base salary and other benefits such as allowances and overtime) from March onwards.

For more information on the EPF’s i-Sinar facility, you can check out our
FAQ
 as well as
our coverage on the topic
. Alternatively, if you’re ready to apply, head on over to the
official i-Sinar website here
.

0

0

votes

Article Rating

SHARE

TAGS:

Akaun 1

Akaun 2

Covid-19

Employees Provident Fund (EPF)

EPF

EPF i-Sinar

EPF Withdrawals

i-Sinar

i-Sinar Withdrawal Scheme

KWSP

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.

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


Maxis Launches New Hotlink Prepaid Unlimited Plan, Revamps Its Hotlink SUPERRR Pack

Maxis has launched the Hotlink Prepaid Unlimited plan, a new prepaid pack that offers unlimited data and calls to all networks. The telco has also revamped its existing Hotlink SUPERRR pack to Hotlink Prepaid Video, a prepaid plan intended for users who often stream high-speed, high quality video entertainment.

The New Hotlink Prepaid Unlimited Plan

The new
Hotlink Prepaid Unlimited plan
 is available with monthly, weekly, and daily options. The monthly plan is further divided into another two choices for subscribers: Hotlink Prepaid Unlimited RM35 and Hotlink Prepaid Unlimited RM45. The first option offers users unlimited data capped at 3Mbps, whereas the second provides unlimited data capped at 6Mbps. Both plans come with unlimited calls, as well as free premium access to Viu via Maxis TV.

Meanwhile, the daily and weekly plans cost RM3 and RM12, respectively, with their internet speed capped at 3Mbps. These, too, come with unlimited calls, but do not offer access to Viu.

Also, if you find yourself needing extra high-speed data, there are add-on boosters offering uncapped speed available as well. At RM1, you can get one hour of uncapped and unlimited data. Alternatively, you can pay RM3 for a daily pass, which gives you 3GB of data, or RM5 for a weekly pass with 5GB of data. Note that these add-on offers include both mobile and hotspot usage.

To further sweeten the deal, subscribers to the Hotlink Prepaid Unlimited plans will also be able to enjoy 10% cashback when they make app and in-app purchases on Google Play Store and the App Store.

At present, Maxis is selling its Hotlink Prepaid Unlimited starter pack at RM10, but it does not offer any unlimited perks until you have subscribed to a plan. The starter pack only contains RM5 worth of credit that is valid for 5 days, along with 500MB of free basic internet. Voice calls, too, cost 15 sen/30 seconds, and SMSes will be charged at 15 sen each.

There have been comparisons drawn between Maxis’ new prepaid pack with
U Mobile’s Giler Unlimited plans
, particularly the GX30 and GX38. Unlike Maxis’ Hotlink Prepaid Unlimited plan, U Mobile’s Giler Unlimited plans do not come with unlimited voice calls. Instead, it offers 3GB of hotspot data.

The Revamped Hotlink Prepaid Video Plan

Aside from launching the Hotlink Prepaid Unlimited plan, Maxis has also revamped the Hotlink SUPERRR pack to
Hotlink Prepaid Video
, offering a better deal to customers who often stream high-speed, high-quality video entertainment.

Prior to this, the Hotlink SUPERRR pack is marketed with a heavy emphasis on YouTube. It offers 10GB of monthly free data for YouTube entertainment if you remain active throughout the month. Additionally, you can redeem twice the internet quota that you’ve purchased for free, provided you buy the pass through the Hotlink app. The catch, though, is that this free internet quota can only be used for YouTube and tonton.

After the revamp, Hotlink Prepaid Video now offers its 10GB of monthly free high-speed video internet each month for a wider variety of streaming sites, such as YouTube, Viu, and iflix. Moreover, you’ll be entitled to premium HD entertainment via Maxis TV. The offer to redeem twice the internet quota that you’ve purchased, at no extra cost, also still stands, and you can now use the free internet quota at even more streaming sites.

If you’re interested, the Hotlink Prepaid Video pack is available with monthly, weekly, and daily options. Subscribers can choose from four monthly plans:

RM25
: 4GB high-speed internet + free 8GB video internet

RM35
: 8GB high-speed internet + free 16GB video internet

RM45
: 10GB high-speed internet + free 20GB video internet

RM60
: 10GB high-speed internet + free 20GB video internet + unlimited calls to all networks

Meanwhile, weekly plans are available via three options:

RM7
: 4GB high-speed internet + free 8GB video internet

RM10
: 8GB high-speed internet + free 16GB video internet

RM15
: 10GB high-speed internet + free 20GB video internet + unlimited calls to all networks

Lastly, the daily pass offers you 2GB of high-speed internet with 4GB of free video internet at the price of RM3 per day.

You can also purchase booster passes (called Hot Ticket passes) which gives you additional data and IDD credit. These passes are going at RM3, RM6, and RM10 for the validity period of one day, three days, and one week, respectively.

5

1

vote

Article Rating

SHARE

TAGS:

Hotlink

Hotlink Prepaid Unlimited

Hotlink Prepaid Video

Maxis

Prepaid Plans

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.

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


EPF, LHDN Revise Operating Hours For MCO 3.0

(Image: Malay Mail/Miera Zulyana)

The Employees Provident Fund (EPF) and the Inland Revenue Board (LHDN) have both limited their operating hours following the tightening of Covid-19 standard operating procedures (SOPs) during the reimplemented nationwide movement control order (MCO 3.0).

MCO 3.0 originally began on 12 May 2021 and is slated to end on 7 June 2021. However, the government decided to introduce stricter SOPs starting from 25 May 2021 (today) after the country saw a spike in the number of Covid-19 cases reported daily.

Employees Provident Fund (EPF)

(Image: Malay Mail/Hari Anggara)

Starting from 25 May 2021 until further notice, EPF offices and counters nationwide will limit their operating hours to start from 8.30am to 2pm. Members who wish to visit must first make an appointment either via the
Janji Temu Online facility
 within the EPF website, or by calling ahead to the relevant branches.

“Walk-in visits are strictly not allowed. Only services that are listed under the Janji Temu Online are available at branches during this period,” said the EPF in a statement.

The provident fund also emphasised that it will enforce the necessary SOPs for all of its branches nationwide, in line with the announcement by the National Security Council (MKN) to keep its members and staff safe. These include ensuring that all members go through a temperature screening and check-in via MySejahtera prior to entering branch premises, as well as enforcing physical distancing measures.

Members are also required to present their MySejahtera status to an EPF officer; they will only be allowed entry into the office or counters if they are identified as low-risk individuals.

Inland Revenue Board (LHDN)

LHDN also released a statement to say that it will continue offering its services within limited operating hours during the MCO 3.0 period. Starting from 25 May 2021, certain services will be closed, whereas others will see a revised schedule.

According to the board, its one-stop counters (tax services) and government special assistance counters will be closed to the general public as taxpayers can access the services provided by these counters online. Those who need to be present at the counter, however, must first make an appointment by contacting the
office of the state or branch director
, or by calling the
Customer Care Office of the respective LHDN branch
.

Meanwhile, stamp duty counters will only be open to individuals who are unable to register as Stamp Assessment And Payment System (STAMPS) users. These counters are open between 8am to 1pm during the working days of each state, with payments only accepted until 12pm.

LHDN also clarified that the payment counters in Kuala Lumpur, Kota Kinabalu, and Kuching will operate from 8am to 12pm, on Monday to Friday. Taxpayers can visit these counters for selected services, namely:

Cash and cheque payment for withholding tax, real property gains tax (RPGT), compounds, and others.

Credit and debit card payment for income tax and other taxes.

If you wish to employ other services at the payment counters, you will also need to make an appointment beforehand.

Other than that, LHDN’s office lines will function as per usual. Its HASiL Care Line is operational from 9am to 5pm (Monday to Friday), whereas calls to all LHDN offices and branches can be made between 8am to 4pm (depending on each state’s working days).

LHDN further reminded taxpayers that the services at its counters are only available to those who are identified as low-risk individuals by the MySejahtera app. Additionally, visitors will need to obey all SOPs, including temperature screening and social distancing.  The board also urged customers to consult the
list of closed LHDN offices and branches
 before heading out so as to avoid any inconveniences.

(Sources:
LHDN
,
EPF
)

0

0

votes

Article Rating

SHARE

TAGS:

Employees Provident Fund (EPF)

EPF

EPF Janji Temu Online

Lembaga Hasil Dalam Negeri

LHDN

Majlis Keselamatan Negara (MKN)

MCO 3.0

Movement Control Order

MySejahtera

MySejahtera App

Stamp Assessment And Payment System (STAMPS)

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.

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


A Tribute to Malaysia's Banking History

On the back of Merdeka and Malaysia Day square ahead, there’s still much to anticipate apart from the national day off – for instance understanding how our proud nation was built on a solid foundation of camaraderie way back when.

Today, for a little lesson in history, we hop on a time continuum to discover how Malaysian banking has taken different shapes from days of old till this very day.

The Merchant Trade

Way before Parameswara witnessed the
kijang
 have a go at the dog as we fondly remember, the British empire had already extended its authority over Penang, Malacca and Singapore due to its strategic locations.

Merchants used to make regular business stops along these three pivotal locations, which soon boomed into a highly sought after trading capital in the region. Of course, it would logically follow – all that income generation required an efficient mode of fund facilitation.

In effort to diversify income source, the British welcomed the Chinese and Indians to capitalise on, at that time, high demand for natural resources like tin and rubber. Thus, the first banks were instituted in Penang and they were Mercantile Bank in 1867, Chartered Bank in 1875 followed by Hong Kong Bank in 1884.

In these early times, a bank would merely consist of an office with a ‘strongroom’, which in modern times are referred to as a vault or safe. Banks of this nature were still in existence and remained in practice as late as the early 1950’s in Sabah and Sarawak.

The Dawn of Technology

The age technological advancement was inevitable and seemed to be the turning point for banking in Malaysia during the 1960s as we begin to take after the model of convenience and progress from advanced nations the globe over.

From a mere office and strongroom, banking grew into a trusted depository for many Malaysians as the nation’s economy boomed regionally. This was the point where the central bank of Malaysia – Bank Negara was introduced to better administer the country’s financial institutions.

Trading and transactions begin to penetrate the international market as basic banking services transformed into an economy dependent entity. However, its customer based services were still limited in many ways as Malaysians still had to pay the local bank a visit for any means of transaction.

In the 1970s, mobile banks were introduced by certain banks to take their services out to the public, especially in rural areas as the urban communities had access to sprouting banks at the time of implementation.

As peculiar as it may sound to millenial babies, banking buses were used to take basic in-house services like depositing and withdrawals out to members of society who had limited access to the larger cities – bringing these services right to their doorstep.

After many years of commuting service to the public, Malaysia finally saw the first automated teller machine (ATM), which was launched by Maybank in 1981 at its Ampang Park outlet – changing the daily relationship between banks and customers forever.

Information Technology

Abbreviated as I.T., information technology saw an intense and tremendous shift from conventional banking into banking of the future.

As Malaysia rapidly grew into a digital age where literacy saw an exponential rise, it was only natural for the next big thing to appear – internet banking.

The country’s dynamic socioeconomic demand had encouraged various forms of advancement to to mushroom, and an intangible form of transaction took the nation by storm – inflicting further positive implications to the nation’s health and regional trade.

These days, money transfer is as simple as a click of a mouse button. Due to cyber security threats in the modern age, the growth of online banking is in a way encumbered but still sees various advancement in tandem with technology.

It is heavily fortified by state-of-the-art security systems where banking is now made possible on the go through smart phones. Other transaction methods like the debit and credit card have also been introduced by banks in the 80s, bringing new meaning to convenience.

And with Western Union taking international online transaction up another notch, who knows what else the future of banking in Malaysia or the world has in store now that almost all avenues seem to have been exhausted – let’s be pleasantly surprised.

At RinggitPlus, we too aim to revolutionise banking further by allowing you to conveniently choose and apply for banking products without leaving your seat. We introduced
XPressApply – a way for Malaysians to apply for a credit card
 through our site without forms or branch visits. It’s our contribution to the rich history of Malaysian banking.

Malaysia will eventually see a day where banking is made even simpler and hopefully we will be one’s spearheading some avant-garde banking method which will spread like wildfire throughout the globe – making banking possibilities endless.

3

2

votes

Article Rating

SHARE

TAGS:

Bank Negara

Chartered Bank

Hong Kong Bank

Mercantile Bank

Mobile Banks

Western Union

XPressApply

About THE AUTHOR

Austin Victor

Austin Victor

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


Maybank Online And ATM Services To Be Inaccessible On Morning Of 19 June

(Image: The Edge Markets)

Maybank has informed customers that both its online banking services as well as automated teller machines (ATMs) will not be accessible on the morning of 19 June 2021 (Saturday), up until 10am. This is due to a system maintenance exercise that is scheduled to be carried out on the day.

“Please be advised that owing to a system maintenance exercise on Saturday, 19 June 2021, our Maybank2u and mobile banking services will not be available from 3.30am to 10am. Maybank ATMs and self-service terminals (SSTs) will be available from 10am instead of 6am on the same day,” the bank clarified in the official announcement on its website.

Maybank further apologised for any inconveniences caused, and urged customers who have enquiries or are in need of additional help to contact its customer care at 1 300 88 6688 (Malaysia). Meanwhile, those who are abroad can call +603 7844 3606.

If you’ve made prior plans to visit Maybank’s ATMs or to perform any online payments on this Saturday, do take note of this and carry out your transactions either before or after the scheduled maintenance period.

You can find out more about
Maybank’s announcement
 on its official website.

(Source:
Maybank
)

0

0

votes

Article Rating

SHARE

TAGS:

ATM Withdrawals

ATMs

Maybank

Maybank2U

Self-Service Terminals

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.

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


You Can Now Pay Tolls With The Latest Touch ‘n Go E-Wallet Feature

TNG Digital is taking more steps to integrate the physical Touch ‘n Go cards with the new e-wallet app. A new trial run will see users being able to pay for their tolls using the mobile wallet.

The new feature in the Touch ‘n Go e-wallet allows you to pay for tolls using the physical card (on the reader or via SmartTAG), but the fare will be deducted from the e-wallet balance. The credit balance in the physical card and the e-wallet are separate and not interchangeable, which means the physical card balance will act as a backup option for when your e-wallet does not have enough balance to pay for the toll fare.

The Touch ‘n Go e-wallet app, which is available on both the
Apple Store
 and
Google Play
, allows users to link up to three Touch ‘n Go physical cards. Previously, the physical card integration only
allowed users to check their Touch ‘n Go card balance
, without the ability to do anything else. TNG Digital says this new feature to pay for tolls is another phase towards a full integration between the physical card and e-wallet app.

Furthermore, with this integration, Touch ‘n Go users no longer have to pay the RM0.50 fee to reload their cards since all the reload options – credit/debit card, FPX online banking, or the Touch ‘n Go Reload Pin –  can be done with no additional fees.

The new toll payment feature will be on trial run for DUKE Highway tolls. However, TNG Digital stated that it plans to expand this feature to the rest of the highways in the Klang Valley in the next phase, but no timeline has been set.

(Source:
Touch ‘n Go
,
Soyacincau
)

1.5

2

votes

Article Rating

SHARE

TAGS:

Touch 'n Go

Touch 'n Go eWallet

About THE AUTHOR

Olivia Song

Olivia Song

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


5 Ways You Can Maximise Your Income with Grab

How many times have you wished you had more money to pay off your multitude of bills, rent, car payment and loan without having to worry if you still have enough money to survive for the rest of the month? Too many Malaysians find that their salary just isn’t enough to cope with the rising cost of living, and are struggling to make ends meet.

If you’re facing the same problem, maybe it’s time to consider a side-income that doesn’t take you away from your career and family time – and what better way to earn extra money at your leisure than driving for Grab? Make the most of your car while driving around and making connections with new people every day!

Why Grab?

Grab offers plenty of rewards and incentives to their drivers. These include target incentives, referral bonuses, discounts on auto servicing, fuel subsidy, and so much more! Besides, you don’t have to be a seasoned driver or know your way across the country to sign up as a Grab driver. You can simply navigate your way through the winding roads with navigation apps such as Waze and Google Maps, without breaking so much as a sweat.

What’s more, the ride-sharing giant puts its drivers above all else – without compromising on its already impeccable customer service. Its
GrabAllStars
 rewards programme is specially tailored to benefit you as a driver by helping you save on costs and expenses, so that you bring home more. With Grab, you can make as much as
RM5,000 in a single month
!

Here are some tips on how you can maximise your earnings as a Grab driver:

1. Drive during peak hours to earn more bonus incentives.
 Grab offers additional incentives during peak hours if you hit the targets given. The more bonus incentives you accumulate, the more you earn!

2. The more you drive, the more rewards you get!
 Hard work pays off when you drive with Grab. Under the
GrabAllStars
 rewards, a Grab driver will be able to enjoy more cost saving rewards when he/she drives more, you’ll be entitled to discounts and treats such as 3% PETRONAS fuel savings, 10% savings on PETRONAS vehicle lubricants, up to 30% savings on car maintenance, as well as exciting discounts at countless retail shops and eateries!

3. Maximise your driving hours to earn more.
 Be sure to maintain a good rating, and always push for excellence by lowering your cancellation rates. A good tip would be to always be courteous to the passengers and keep the car clean, providing a great experience to passengers means winning half the battle!

4. Reduce your cost by driving a more fuel-efficient car,
 and always keep your car in optimum condition to minimise fuel consumption and breakdowns.

5. Refer other people to be Grab drivers and earn a multi-level referral bonus.
 You can also earn overriding bonus points when the drivers you referred recruit new drivers under them!

Grab Can Be the Stepping Stone for You to Achieve Your Dreams

Grab doesn’t only help you earn extra money in your free time, it can also help you realise your dreams with its multitude of rewards and savings opportunities. Here’s a true and inspiring story of a Grab driver who started just like any other drivers, but now is well on her way to reach her dreams:

Siti Nurul is a sprightly woman in her early 30s who works hard to help support her family and achieve her life-long dream – owning her own home and retire by 40. Being a woman and a mother of two did not stop her from enrolling as a full-time Grab driver, and her decision was supported by her entire family.

Many have asked if she gets worried driving for Grab, but she is confident and feels secure doing this because she knows that Grab will take care of her. She was given a dashcam when she joined as a female Grab driver and uses it to record everything that goes on in the car and on the road.

She had earlier chosen the path of being a Grab driver because she wanted to have more flexibility of being a full-time mother and running her online business at the same time. Little did she know that as time goes by and she gets better and better at communicating with her passengers. With the savings that she obtained from GrabAllStars rewards on fuel and car maintenance, she is able to earn as high as RM1,700 a week.

Being a good Grab driver is not always easy, but Siti loves meeting new people, share experiences, and tries her best to maintain a high rating. She’s now among the highest paid Grab drivers in town, and has managed to convince several others to be Grab drivers as well!

Watch an exclusive interview with Siti Nurul as she reveals her secrets on how she juggles her family and online business while earning extra income with Grab:

Plenty of other Grab drivers have achieved their goals and dreams by working off their extra time with Grab, and you can too. If you want to break free from the mundane 9 to 5 desk job and earn extra money to take care of your family or achieve your dreams, sign up to drive for
Grab
 now!

If you know anyone who would want to fulfill their dreams, refer them to drive with
Grab
 and get RM50 worth of promo codes in return. What are your thoughts on being a Grab driver? Share your thoughts, suggestions, and ideas in the comment section below!

5

1

vote

Article Rating

SHARE

TAGS:

E-hailing

Grab

GrabCar

About THE AUTHOR

ringgitplus

ringgitplus

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


How Much Will Bantuan Prihatin Elektrik Help You Save On Your Electricity Bills?

On 20 June 2020, the government has announced the Bantuan Prihatin Elektrik (BPE) of RM77 rebate; an equivalent to the first 300kWh/month for the month of April, May and June’s electricity bills for domestic consumers. This would mean that over four million Malaysians who are low-power users will enjoy free electricity bills for the three months, while high electricity consumers would also get to enjoy the RM77 rebate, totalling to RM231.

The BPE rebate is on top of the existing discounts on Tenaga Nasional Berhad (TNB) electricity bills, under the Economic Stimulus Package (ESP), which offers discounts of up to 50% for domestic consumers effective April to September 2020. Recently, the government has also announced the
extension of electricity bill discount from 30 September, to 31 December 2020
 to help Malaysians cope with their financial burden during these challenging times.

With BPE and electricity bill discounts added up together – how much will these benefits help you save? Have you ever wondered how do these benefits apply to your electricity bills? Read on to find out how much you would be able to save on your July’s electricity bill this month.

If you’ve been paying your estimated electricity bills during MCO-CMCO period, there is no need to worry as TNB will automatically adjust your payments accordingly. Any excess payment you’ve made will be automatically credited into your July 2020’s billing.

For more information on Bantuan Prihatin Elektrik, you may visit TNB’s frequently asked questions here. And if you don’t find the answers that you’re looking for, feel free to contact TNB at 1300-88-5454 for further clarification.

5

2

votes

Article Rating

SHARE

TAGS:

Bantuan Prihatin Elektrik

Covid-19

Electricity Bill Discounts

Electricity Bills

MCO

Tenaga Nasional Berhad

TNB

About THE AUTHOR

Sharon Bentley

Sharon Bentley

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


The Easiest Way To Renew Your Motor Insurance And Road Tax In Malaysia

Renewing your motor insurance and road tax is an annual affair and you usually want to get it done with as quickly and smoothly as possible. You have several choices when it comes to getting these renewals done, and each option varies in terms of convenience – have a look below to see which method is best for you.

Renew insurance and road tax over the counter

In good old over-the-counter fashion, you can still renew your motor insurance and road tax in person like in the days before online transactions were a thing. In-person renewals may be a favoured option for those who aren’t quite tech-savvy, or are a bit more flexible in terms of time and means of transportation.

Pos Malaysia outlets offer a wide variety of services, including the ability to renew your motor insurance and road tax. All Pos Malaysia outlets have a set list of 15 panel insurers that you can choose from. After that, you can also renew your road tax in Pos Malaysia. You won’t even need to bring your car grant or other documentation – only your IC is required to renew your road tax.

Alternatively, you can go to a branch office of the particular insurance company that you are looking to buy from. For road tax renewal, you can also head to one of the Jabatan Pengangkutan Jalan (JPJ) branches.

Remember to bring the required documents with you as well as sufficient cash as some branches do not accept payments by card. You may have to wait quite a bit if queues are long, so make sure you’ve got some reading material or a fully-charged phone with you!

Renew insurance and road tax online

Renewals of both your motor insurance and road tax can be done online through various platforms. The most popular one is MyEG, the online provider for e-government services. There are a number of insurance providers listed on MyEG, and you can renew your road tax on MyEG too – all documents will be sent to you via courier.

Other websites you can go to are those of the insurance providers themselves. Some insurance companies are also offering the option for you to renew your road tax on their sites together with your motor insurance policy as they recognise that many vehicle owners would want to do both at the same time.

You can get your renewals done online and then have the insurance policy and road tax delivered to you.

Quick and easy renewals with RHB Insurance Mobile App

Just in case you thought renewals couldn’t get any more convenient, you now also have the latest option to get them done via a mobile phone app.
Renewing your motor insurance
 and road tax from a single app makes the whole process simple and easy, done with just a few swipes on your phone.

The RHB Insurance Mobile App allows you to renew your motor insurance and road tax at one go with maximum ease and convenience. It prides itself on enabling users to successfully purchase RHB motor insurance policy in a matter of three short minutes.

One minute to get a quote

When you enter the RHB Insurance Mobile App, all you need to do is tap the “Quick Quote” icon and you’ve already begun the process of obtaining a preliminary quotation for your insurance policy. All you need to fill in is your ID number, marital status, postcode, and vehicle registration number, and the app automatically generates a quotation for you. It takes all of one minute and hardly any effort to get a quote on your vehicle insurance.

Three minutes to get a policy

To follow through past the quotation and buy your motor insurance, you need to register as a user and carry out a simple email authentication. If you’re uncertain about anything, you can even opt for an agent to assist you with any queries for no extra charge. Once you’ve accepted the final sum insured, you can select additional coverage options such as riders for cracked windscreen replacement, natural disasters, and so on. You can also nominate additional drivers to be covered while driving the vehicle.

Get your road tax renewed together with your insurance

For those who want to renew their road tax together with their motor insurance, it’s as easy as adding this on as an option on the app. You’ll have to pay a courier charge for delivery, but you’ll be able to have your road tax sent right to you after successful purchase within two working days in West Malaysia and five working days for East Malaysia.

Hassle-free payment for quicker renewals

Next, you’re ready to proceed to payment by credit or debit card. After that, you will receive your policy cover note and tax invoice in your email inbox within two working days, and you’re done with your insurance renewal. Now that you’ve successfully purchased your insurance, you’re also entitled to round-the-clock roadside assistance on motor-related matters – all the numbers you need to have are a tap away on the app.

All in all, the RHB Insurance Mobile App lives up to its premise of being a quick and easy way to renew both your motor insurance and road tax in a single transaction. So, you can forget about long waits and paper shuffling at the post office or even firing up your laptop to
renew online
. Find out more about the
renewing your motor insurance and road tax with RHB Insurance
 now to see for yourself just how convenient your insurance and road tax renewals can be – and then you probably won’t want to do your renewals any other way.

5

1

vote

Article Rating

SHARE

TAGS:

MyEG

Pay Road Tax

Pos Malaysia

RHB

RHB Insurance

RHB Insurance Mobile App

Road Tax

About THE AUTHOR

ringgitplus

ringgitplus

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


Tourism Malaysia Relaunches Jom Cuti-Cuti Malaysia! Campaign With Special Langkawi Hotel Deals

Tourism Malaysia has once again joined hands with the Malaysian Association of Hotels (MAH) and Shopee Malaysia to relaunch the Jom Cuti-Cuti Malaysia! Experience Malaysia Like Never Before campaign. This update – which follows Langkawi’s reopening for fully vaccinated individuals – now features special hotel deals on the island.

Specifically, Malaysians can redeem either of the following offers in Langkawi, valid until 31 December 2021:

RM50 e-voucher for 2D1N stay at one- to three-star rated hotels
RM100 e-voucher for 2D1N stay at four- to five-star rated hotels

This new deal is on top of other promotions for hotels in other states nationwide, most of which were offered when the campaign was
first launched back in December 2020
. The Jom Cuti-Cuti Malaysia! campaign had been unveiled through Tourism Malaysia’s own Stimulus Recovery Plan at that time, partnering with MAH and Shopee. It was expected to run until 31 March 2021.

The campaign’s first launch back in December 2020

In relaunching the initiative this time round, the director general of Tourism Malaysia, Dato’ Hj. Zainuddin Abdul Wahab said that the reopening of Langkawi through a domestic tourism bubble project is a long-anticipated move within the industry. “The Jom Cuti-Cuti Malaysia! campaign serves as one of our efforts in encouraging Malaysians to have the confidence to travel once again, albeit while taking extra precautions. This pilot project is important in reviving Malaysia’s tourism supply chain, all of which were severely impacted by the Covid-19 pandemic,” he said.

The chief executive officer of MAH, Yap Lip Seng also shared a similar sentiment. “We understand that many are eager to travel after a prolonged period of movement restrictions. This campaign provides a great incentive for Malaysians to do so,” he said, adding that travellers can look out for MAH’s Clean & Safe Malaysia-certified hotels for added reassurance.

Finally, the senior manager of marketing for Shopee Malaysia, Kenneth Soh noted that the e-commerce platform is always striving to empower local communities, including hoteliers and other industry players. “Malaysians can find offers on our platform for hotels at various price points, to accommodate tourists at all budget levels. We will also activate a
specially curated search for hotel offers in Langkawi
, to further ease the purchasing process of those keen on visiting the beautiful island,” he commented.

The government had reopened Langkawi to domestic travellers under a pilot travel bubble plan starting from 16 September 2021. Strict standard operating procedures (SOPs) were set by the National Security Council (KKM) to facilitate the process, including a mandatory Covid-19 test prior to travellers’ arrival at the island. Langkawi’s reopening has since been deemed a success, recording
a total of 9,500 tourist arrivals
 as of today. It may lead to the revival of other tourism destinations soon, including Genting Highlands and Fraser Hills.

(Source:
Tourism Malaysia
)

0

0

votes

Article Rating

SHARE

TAGS:

Covid-19

Covid-19 Economy

Covid-19 Travel Bubble Initiatives

Dato’ Hj. Zainuddin Abdul Wahab

Hotel Promotions

Hotels

Kenneth Soh

Langkawi

Malaysian Association of Hotels

Shopee

Tourism

Tourism Malaysia

Yap Lip Seng

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.

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


Your Personal Wealth Planner Now On Mobile

Today, there are significant changes in how an investor
invests
. In the past, an eager investor would have to call up a stockbroker to invest in stocks or head to the bank to pick out suitable unit trust funds.

In correspondence with the rise of technology, financial technology, more commonly known as fintech, has drastically changed the way we invest. We now have online trading platforms, wider availability of information, and better accessibility to investment products such as stocks, bonds, and unit trust funds.

All that you would need to research investment products, monitor the market, and start investing are internet access and a laptop or mobile phone.

Invest & Track With Wealth on Mobile

Built as a one-stop wealth management platform, Wealth on Mobile is a new feature on the HSBC mobile banking app. Existing and new users can now access, track, and monitor their investments with HSBC all from the convenience of their mobile phones at any time.
Whether you’ve invested in unit trusts, bonds, structured investments, or more, Wealth on Mobile’s easy-to-navigate interface makes it simpler for you to keep track of your portfolio and review it as needed. The uncomplicated dashboard holds key information about your investments, such as market value, unrealised gain/loss, net asset value (NAV), performance, etc.

With just a few quick taps, you’ll also have tailored access to the latest market data and major global insights that you need for your ongoing investment journey, through HSBC’s
Wealth Insights
.

Diversify Your Portfolio With EZInvest

One of the most value-added and important features of Wealth on Mobile is the independent investing platform. Positioned within Wealth on Mobile, EZInvest allows investors to securely and readily invest in 20 selected unit trust funds.

With a minimum placement fee of only RM500, investors have access to diversified unit trust funds that hail from local, Asian, and global markets. Besides that, the unit trust funds are also ranged to cater to different risk appetites.

Starting from 1 January 2022 until 31 March 2022, HSBC is offering a promotion sales charge of only 0.88% when you start investing with EZInvest.

***

So, if you’re looking to have full control over your investments anytime and anywhere, consider Wealth on Mobile to monitor and review your investment progress to make informed investment decisions and EZInvest to invest in unit trust funds without a hitch. Both Wealth on Mobile and EZInvest were developed as a result of the evolution of financial technology and will continue to make improvements to provide consumers with a well-rounded wealth management experience.

Download the HSBC app to access Wealth on Mobile, EZInvest, and more. For more information, head to the respective websites
here
 and
here
.

The contents of this article do not constitute financial advice. Readers should conduct their own research before making a financial decision. The material has not been reviewed by the Securities Commission Malaysia (SC).

5

1

vote

Article Rating

SHARE

TAGS:

EZInvest

HSBC

Unit Trusts

Wealth on Mobile

About THE AUTHOR

Katrina Balan Quiroz

Katrina Balan Quiroz

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

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


Get RM 3 Vouchers When You Pay With GrabPay

Starting today until 31 December 2021, customers who pay using GrabPay will get to redeem RM 3 GrabPay vouchers to use on their next transaction.

GrabPay users can easily earn the RM3 voucher by simply scanning to pay any GrabPay QR or DuitNow QR code – based on the T&Cs there are no minimum spend requirement to earn this voucher. Note that you will not earn this voucher if the merchant scans your QR code. The voucher will be rewarded to you under “My Rewards”, which you can use for your next transaction.

The voucher will be available to use for your next GrabPay offline purchase, with a minimum spend of RM15. After scanning the GrabPay QR code at any GrabPay Preferred Merchant store, tap on “Add Promo” when making your payment and select the RM 3 voucher to apply and use. Once done, the selected voucher will be applied to your checkout amount and you can proceed to make your required payments. Please note that you need to spend a minimum of RM 15 in order to use the voucher.

Each GrabPay user is only allowed to claim one redemption of the RM3 voucher per day, up to three redemptions for every month of the campaign period. This deal is available on a first-come, first-served basis while stocks last, and will cease once the cap has been reached.

You can refer to the Grab website for more details on the
GrabPay deal
.

0

0

votes

Article Rating

SHARE

TAGS:

DuitNow QR

GrabPay

GrabPay Deals

About THE AUTHOR

Sheu Quen

Sheu Quen

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

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


How This Medium-Risk Unit Trust Fund Generated 81.90% Returns In A Recession

The year 2020 has been quite a journey with COVID-19 affecting people’s lives and causing a
global recession
 as a result of movement restrictions and lockdowns to contain the spread of the virus. The
Malaysian economy contracted by 17.1% in Q2 2020
 as a result of the Movement Control Order (MCO) which took effect in March 2020.

Initially, global stock markets plunged as COVID-19 spread globally.  Malaysia was not spared with the
Kuala Lumpur Composite Index sinking to a low of 1219.72
.
 However, global markets rebounded positively due to unprecedented fiscal and monetary policies undertaken by various governments.

Some unit trust funds have managed to rally alongside the swift recovery in the stock markets. In particular, the United Malaysia Fund (UMF) managed by UOB Asset Management (UOBAM) Malaysia, saw outstanding returns of 81.90%* for the past 12 months. In this article, we take a look at what made it possible for UMF to deliver in the current global pandemic.

*12-month returns based on commencement date 12 August 2019 for United Malaysia Fund Class A

The United Malaysia Fund is just one of several unit trust funds managed by UOBAM. Visit
UOBAM Malaysia’s website
 to learn more about UOBAM Malaysia and its high-performing United Malaysia Fund (UMF). The UMF’s prospectus and disclosure sheets can be accessed
here
.

You can also listen to Francis Eng, CIO of UOBAM (Malaysia) himself, explaining about UMF in Episode 11 of One Minute Insight, a regular bite-size informative shows by UOBAM.

Alternatively, this episode is also available in
3 other languages; Bahasa Malaysia, Cantonese, and Mandarin in UOBAM’s One Minute Insight website.

Disclaimer: Past performance is not necessarily indicative of the future or likely performance of the fund. Investors are advised to read the fund’s prospectus before making any investment decision.

0

0

votes

Article Rating

SHARE

TAGS:

UMF

United Malaysia Fund

UOB

UOB Asset Management

UOBAM

About THE AUTHOR

ringgitplus

ringgitplus

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


Govt Shares Details On Final Payment Of BPN 2.0 And First Phase Of BPR

During the announcement of the PERMAI special assistance package, Prime Minister Tan Sri Muhyiddin Yassin shared some specifics on the final payment of the Bantuan Prihatin Nasional (BPN 2.0) aid, as well as the first instalment of the Bantuan Prihatin Rakyat (BPR) assistance.

With regards to BPN 2.0, the prime minister said that the final payment of this aid will be brought forward to start from 21 January 2021 onwards. It is expected to benefit a total of 11.1 million recipients with a total payment of RM2.38 billion.

For context, the
BPN 2.0 aid
 was introduced under the government’s KITA PRIHATIN package last year, which was aimed at providing further assistance to B40 and M40 Malaysians who are struggling amidst the Covid-19 pandemic. Disbursement of
the one-off cash aid
 was to be done in two phases: once in
October 2020
, and another slated in
January 2021
.

Tan Sri Muhyiddin also revealed further information on the first instalment of the BPR aid that involves more than 8 million recipients. “Households earning up to RM5,000 per month will receive RM300 each, while for those under single category earning up to RM2,000 per month will receive RM150,” he said. However, the prime minister did not share a specific date as to when these cash aids will be disbursed.

The
BPR programme
 is essentially an enhanced version of the previous
Bantuan Sara Hidup (BSH)
 assistance, intended as a means of assisting B40 households. Introduced during the tabling of
Budget 2021
, it features new conditions and amount of financial assistance compared to its predecessor, and is also more specific and targeted in terms of eligibility.

4.8

4

votes

Article Rating

SHARE

TAGS:

B40

Bantuan Prihatin Nasional 2.0

Bantuan Prihatin Rakyat (BPR)

Bantuan Sara Hidup (BSH)

BPN 2.0

Budget 2021

Covid-19

M40

Permai

Permai Stimulus Package

Tan Sri Muhyiddin Yassin

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.

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


Maybank Cardmembers Can Redeem A Meal At Pavilion KL Using Maybank Points

Maybank is running a special promotion which allows cardmembers to redeem a meal at Pavilion KL using Maybank TreatsPoints or Membership Rewards Points. The promotion will run from the period of 1 April to 31 December 2021.

You can make your orders through Pavilion KL’s online dining concierge which is exclusively available to Maybank cardmembers. Just visit the
online page
 to browse and add food items into your shopping cart, and proceed to checkout with your Maybank Points. The dining concierge is also available to those making payment with their Maybank card.

Upon successful redemption, you will be sent a confirmation email and you have two hours to pick up your food order at the relevant outlet in Pavilion KL. The dining concierge hours are between 11am to 7.30pm every day, with 5.30pm being the time for last orders. There is no minimum spend required for a food order, but this particular promotion cannot be used in conjunction with other discounts, promotions, vouchers, or privilege cards.

The food outlets you can order from include establishments like PAUL, Serai, D’Empire, Nanyang Café, and more. If you have enquiries related to checking out your order, you can contact Maybank at +603-8090 5066 from 9am to 6pm on Monday to Friday. However, if you would like to make enquiries related to the food, order status, or pick-up of your order, then you should contact the food outlet directly.

(Source:
Maybank
)

0

0

votes

Article Rating

SHARE

TAGS:

Maybank

Maybank Cards

Maybank Dining Concierge

Maybank Membership Rewards Points

Maybank Points

Maybank TreatsPoints

Pavilion

Pavilion KL

About THE AUTHOR

Jacie Tan

Jacie Tan

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


KTMB Introduces Flexi Fare System For ETS Train Rides

(
Image: The Star
)

Travellers using the Electric Trains Service (ETS) operated by Keretapi Tanah Melayu Berhad (KTMB) can soon enjoy more affordable rides as KTMB has introduced a new Flexi Fare system for its users. KTMB describes Flexi Fare as a method to determine fares based on your travel options.

The first criteria to determining your Flexi Fare is your travel particulars, namely:

Travel period (off-peak, peak, or super peak season)

Type of services (silver, gold, or platinum class)

The day of your travel (weekday or weekend)

The time of your travel (off-peak or peak hours)

Secondly, your Flexi Fare is affected by your seat selection, where you can opt for complimentary seats, or pay to choose your preferred seats.

Lastly, your Flexi Fare will also change depending on your purchase period and your purchase medium. It appears that different charges will apply for early bird, intermediate, or last-minute ticket purchases. For instance, customers who book early bird tickets for their travels during festive seasons or school holidays will get to enjoy lower fares compared to those who buy their tickets at the last minute. The early bird customers may also enjoy double savings through promotions that will be offered from time to time.

Using different mediums to purchase your tickets will incur dissimilar fees as well, such as when you buy at the counter, through KTMB’s official website, or through the KTMB MobTicket mobile app.

The Flexi Fare system is set to begin on 1 March 2020, but if you’re already planning to use the ETS some time between 1 to 31 March 2020, you can begin purchasing Flexi Fare tickets from 15 January onwards. As an introductory promo for the Flexi Fare system, KTMB is also offering free seating options for those travelling between 1 to 31 March 2020.

Additionally, KTMB will continue to offer concession rates for the Flexi Fare tickets. This is applicable to retired government servants and their spouses, senior citizens, children aged between 4 and 12, people with disabilities, students holding a KTM i-card, members of the police and armed forces, as well as firefighters.

According to the
statement
 by the Ministry of Transport, the Flexi Fare was introduced to provide ETS passengers with the opportunity to make travel plans according to their needs and preferences. KTMB has also been making various efforts to boost ridership across its various services, including the introduction of the
KTM XTRA20 discount card
 and a
20% discounted fare
 early this year.

(Source:
KTMB
,
The Star
)

0

0

votes

Article Rating

SHARE

TAGS:

KTM

KTM Berhad

KTM ETS

KTM Flexi Fare

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.

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments