Worker quits because his salary is too high

A 32-year-old IT worker in Bengaluru, India has reportedly
quit his job
 because his salary was too high.

Sandeep Jia earned the equivalent of £450 (RM2299) and had previously complained to his superiors that his high salary was making him depressed. Despite the complaints, management did nothing about the matter and Sandeep felt forced to quit his job. He said he felt ‘guilty’ as so many in his city lived in situations of almost destitution.

‘I was getting depressed, and in the end I decided to solve the problem by leaving and looking for a different job,’ he explained.

We bet a lot more people would like to have Sandeep’s problems.

But jokes aside, the
Metro.co.uk also reported
 that according to psychologists, guilt appears to be a growing problem in India as the gap between the rich and poor grow.

Would you quit your job because you earn more than most people you know? Colour us skeptical!

*Picture courtesy of Paradigmstaffing.com

0

0

votes

Article Rating

SHARE

TAGS:

Employment

Salary

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


We Found What May be the Worst Time to Buy a Car

As we all know, cars are big ticket items which depreciate in value over time. While some may argue that there are collectible and limited edition cars that have gone up in value, the majority of us don’t have the luxury to buy cars such as that.

While we are always concerned about its resale value to ensure we retain maximum value, could there be a time that purchasing a car would significantly cost you more in terms of depreciation as compared to other times?

How Does a Car’s Value Depreciate?

First of all, a car’s value depreciates based on the amount of time and years it has been used. Beyond its age, it is usually evaluated based on the mileage and the basic condition of the car. Cars that have run a higher than average mileage tends to fetch lower prices. Cars are usually gauged based an average of 20,000 kilometers a year.

That is the same number of times a car using fully synthetic oil goes through a service, every six months or every 10,000 kilometers. Which add up to a year’s worth of usage. Cars that have been in accidents depreciate in value quicker as well. Despite having it fixed and not visible to the naked eye, car dealer inspections tend to always find the defects due to a prior accident.

Highest Depreciation Timeline

A car is registered based on the year it was purchased. Therefore you could lose out significantly in terms of value if you buy your car in December. As when it crosses over to the following month, it would be considered a year old. Imagine picking up a brand new car on the 31st of December, being all set to take on the new year in style. One day later despite all the style in the world, your car is going to be a year old based on its registered year.

Go on to motortrader or Carlist.my and checkout some of the postings. You would notice that it advertises using the year and not based on the month and specific date it was bought.

Upside of Buying Late in The Year

Despite buying a car towards the end of the year sounding like an unfavorable condition due to the reason above, this is when most car dealerships give you the best deals to encourage a sale. In some cases, all the free car services, extended warranties, free tinting and added features that come along with the car may be worth the purchase.

Sometimes you may even find the upside depending on an individual’s situation. For example, if you were in your retirement years and you have no intention of switching cars beyond this purchase, you could take advantage of the special deals and pay less for a car you wanted to buy. Not to mention you could trade-off your old car before it falls over into the following new year too.

If you are intending to purchase a car in the near future, check out our
comparison tool
 for hire purchase and pick one that works best for you.

Have any comments regarding this article? Tell us in the section below.

0

0

votes

Article Rating

SHARE

TAGS:

Car Purchase

Cars

Personal Finance

Value Depreciation

About THE AUTHOR

Gavin Pereira

Gavin Pereira

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


PIAM: Insurers Recorded Increased Demand For Flood-Linked Motor Insurance In 1H22

(Image: Malay Mail/Hari Anggara)

The General Insurance Association of Malaysia (PIAM) revealed that the take-up rate of comprehensive motor insurance with flood coverage has more than doubled to 12% in the first half of 2022 (1H22). This is in comparison with the 5% take-up rate that was recorded for the full year of 2021.

In a statement, PIAM said that the improved take-up rate can be attributed to the increased public awareness of damage risk to property and assets due to flash floods. This is especially since the floods in late December 2021 and early January 2022 were reported to have caused an overall loss of RM6.1 billion.

Aside from that, the purchase of fire (material damage) insurance with flood coverage also recorded a slight uptick, from 30% for the full year of 2021 to 31% in 1H22.

(Image: Berita Harian Online)

PIAM stressed that flood coverage is actually more affordable than the general public thinks, and urged consumers to upgrade their policies if they do not yet have such protection. To better illustrate this point, the association drew a comparison between three types of vehicles – Proton Saga, Toyota Camry, and Mercedez Benz AvantGarde – and found that the additional premium for flood extension coverage ranges only between RM0.08 to RM1.74 per day.

Similarly, flood coverage is not spectacularly expensive for properties either, said PIAM. “The rate for flood extension coverage under a standard tariff policy for risks below RM10 million is 0.086% – an affordable sum given the amount of protection provided for losses resulting from floods. For instance, a property with sum insured of RM200,000 would incur an additional premium of approximately RM172 per annum (RM0.47 per day or RM14 per month),” it shared.

(Image: AFP/Arif Kartono)

Given these figures, the association urged homeowners to consider purchasing houseowner insurance that also includes householder (home contents) cover. This is because it usually provides protection for flood and various other perils as well.

Finally, PIAM cited a report by national reinsurer, Malaysian Re, which highlights the low insurance penetration among Malaysians despite their increased awareness of flood risk. The report noted that flood coverage is mostly bought only by those who stay in regions that are perceived as flood prone, but with climate change causing havoc, areas that are not considered flood prone, too, may be exposed to unexpected dangers.

“In conclusion, in an effort to safeguard assets against flood, natural disasters and fire damage, Malaysians are strongly encouraged to review their existing insurance coverage to ensure that their needs are adequately met,” PIAM said.

(Source:
PIAM
)

0

0

votes

Article Rating

SHARE

TAGS:

Fire Insurance

Flood Coverage

General Insurance Association of Malaysia (PIAM)

Home Insurance

Malaysian Re

Motor Vehicle Insurance

PIAM

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

 (1)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

1
 Comment

 Inline Feedbacks

View all comments

    Unhappy insured

    8 months ago

But then when the claim for flood cover is paid, Insurer will reject flood cover renewal, this is obviously too bad.

0

Reply


Toll Hikes Are Here But Should You Really Avoid Tolled Roads?

No use mincing words with this recent piece of news: the
toll rates are up sky high
. Let’s not get into why we’re still paying toll for
what some say is fatally bad road management
, or why the rates are still going up despite
promises to the contrary
.

That’s not what we’re about. We’re all about making the most of your money in a situation. So now that the toll prices are hiked up, what should we do?

We can use
carpooling apps
 to help shave off some of our travel costs, we can switch to public transportation for our daily commute, or we can even get ourselves a
fully-electric vehicle
 to eliminate petrol costs altogether.

Alternatively, one way to not incur the extra toll charges is to drive to work as usual, but avoid passing through any tollbooths in the first place.

We all have that one uncle/friend/coworker who’s always keen on telling you all the secret back ways and narrow
kampung
 roads you can slip in and out of to avoid the tollbooths.

Even if we don’t,
traffic navigation apps
 have the option of showing you routes that avoid tolls, so figuring out the road to dodge the toll charges is not difficult at all.

But is it Worth All the Trouble?

The argument against avoiding tollbooths is that the money you save on toll payments do not make up for the petrol costs or the extra time it takes to drive the alternative route.

There are points to be made on both sides of this argument since the true answer to whether or not it saves money is “it depends”.

Since “it depends” is such an unhelpful answer to a life-and-death (as far as your wallet is concerned) question, we thought we could at least make it easier for everyone to come to a conclusive answer using some simple, secondary school mathematics.

First off, let’s find out your car’s approximate fuel efficiency. For that, we need to divide the cost of your full tank of petrol, by the driving distance it takes to deplete to zero.

As an example:

Cost of full tank of petrol (in RM) = RM65

Driving distance of full tank (in km) = 400km

Fuel efficiency (Fe)= 65 / 400 = 0.16 RM/km

Now that we have our fuel efficiency (Fe), what we need next is to find out the travel distance we save from using our alternate route. One way to do this is to plug in the two routes, the one with tolls and the one without tolls, to
Google Maps
 and compare the travel distance.

e.g.:

[T] Route with tolls (in km) = 35km

[nT] Route without tolls (in km) = 47km

Multiply the Fe we have earlier to the two distances to see the petrol costs for each:

[Fe] 0.16RM/km X [T] 35km = RM5.60

[Fe] 0.16RM/km X [nT] 47km = RM7.52

Now we have the Ringgit cost for the two routes! So do we know which one is cheaper already? Not yet. Before you get excited, remember that the route with tolls has a toll charge. So add that to the figures like so:

RM5.60 + RM2.70 (Toll Charge) = RM8.30

RM7.52 + RM0.00 (No Toll) = RM7.52

As you can see from our calculations above, the road with no tolls actually saved us 78 sen! Which adds up to RM15.60 a month, which is RM187.20 a year. Whoa.

Yay, So I am Saving Money! Wait…

Before you go running off to take the non-tolled road on your commute route; remember that sitting in a traffic jam not only wastes time (which is money if you are working!); it also burns additional fuel and with it your precious money.

Did your non-tolled route cost you in time and fuel burned in a traffic jam?

According to a Quora discussion thread,
you burn 1.5 – 2. 5 litres of petrol per hour
 just being stationary.
Another report
 stated this figure is around 3.5 litres per hour. The discrepancy is usually cause by your car’s make, model and condition. Newer, more energy efficient or manual transmission cars use less; whilst older, bulkier or automatic transmission cars use more.

This calculation is simplistic and certainly more
complex equations can be used
 to get an exact number but if you’re not a fan of long calculations, think about the situation logically.

If you are saving RM0.78 as in the example above but spending an additional 40mins to get to work; are you saving money?

If your car burns 2.5 litres per hour in traffic, the calculation will look something like this:

2.5 x RM2.05 (price of fuel in October) x 0.67 (40mins/60mins) = RM3.43!

Yikes!

Again, the calculations are not an exact mathematical science but suffice to say; a tiny savings of RM0.78 should not cancel out a huge loss of time spent in traffic.

I Might as Well Give Up!

At the end of the day, we have to go to work to earn the money we need to not only pay the tolls but everything else in life. If we can’t save by avoiding tolls – how can we?

Perhaps now is a good time to use some other, tried and true money saving commute tricks:

1) Use ride-sharing apps;

2) Carpool with your colleagues, taking turns to prevent single car wear and tear as well as sharing the fuel costs;

3) Keep your car light (no, not discouraging carpooling!) without leaving huge items and unnecessary loads in the car;

4) Keep tire pressures at the optimum psi;

5) Use a
good petrol credit card
. A good
petrol credit card
 with rebates can help you save more money in the long run than wasting time in a traffic jam.

With some simple counting, you can find out how much that crazy, back-alley
kampung
 secret passage is worth in ringgit.

Here’s the formula again, with which you can plug in your own figures:

Fuel Efficiency [Price of full tank / distance of full tank]

x

Distance Travelled

+

Toll Charge (if any)

Remember to apply the formula to the two routes you want to compare to see the difference in cost between one and the other. You can also check the additional time spent stuck in traffic to see if that is guzzling more fuel than you are saving.

We hope this formula has been helpful and you can use it to plan your trips or commutes better in the future.

Do you have your own way of saving costs or avoiding toll charges? Have you used your own formula for something similar? Let us know in the comments below!

0

0

votes

Article Rating

SHARE

TAGS:

Petrol

Petrol Cashback

Petrol Price

Toll

Toll Prices

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


Affin Hwang Asset Management To Rebrand Following Acquisition By CVC Capital Partners

Affin Hwang Asset Management Berhad has announced that it will embark on a rebranding exercise, following the acquisition of a 68.35% stake in its company by global private equity and investment advisory firm, CVC Capital Partners.

In a statement, Affin Hwang Asset Management said that the rebranding exercise will be carried out to refresh its image after 20 years, and reposition the company for its next phase of growth. The exercise is aimed to be completed by the fourth quarter of 2022 (4Q22).

Additionally, Affin Hwang Asset Management stated that the company’s acquisition by CVC will provide it with a strong springboard to elevate its wealth management business, as well as spur new digital solutions.

(Image: The Star)

“With a fortified shareholder strength, the synergy from our partnership with CVC as well as our longstanding partner Nikko Asset Management will allow us to expand our capabilities and broaden our suite of offerings,” said the managing director of Affin Hwang Asset Management, Datuk Teng Chee Wai, adding that the company will also be able to tap into CVC’s expertise in private markets and alternative asset classes. Meanwhile, Nikko Asset Management – one of Asia’s leading asset managers – is the second largest shareholder in Affin Hwang Asset Management.

Datuk Teng also highlighted that Affin Hwang Asset Management will continue to uphold and preserve the trust given by its clients. “Our clients will continue to be at the forefront of our business as we build long-term sustainable wealth for generations to come,” he added.

For context, Affin Bank Berhad announced earlier this year that CVC, through its subsidiary Starlight Asset Sdn Bhd, has
agreed to acquire 68.35% of the equity interest in Affin Hwang Asset Management
. Following the approval by the Securities Commission Malaysia (SC),
Starlight Asset Sdn Bhd acquired a 63% stake in Affin Hwang Asset Management
 from Affin Bank for RM1.42 billion, and another 5.35% stake from Affin Hwang Asset Management’s senior management for RM120 million.

With the completion of the stake acquisition by CVC, Affin Hwang Asset Management has now ceased to be a subsidiary of Affin Hwang Investment Bank.

(Sources:
Affin Hwang Asset Management
,
The Edge Markets
)

0

0

votes

Article Rating

SHARE

TAGS:

Affin Bank

Affin Hwang Asset Management

Affin Hwang Asset Management Berhad

Affin Hwang Investment Bank

Asset Management

CVC Capital Partners

Datuk Teng Chee Wai

Securities Commission Malaysia

Starlight Asset Sdn Bhd

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


(Updated) The Guaranteed RM600 Shopee e-Voucher Deal & More You Cannot Miss Out This April

No April Fool’s shenanigans here. Some of this week’s guaranteed gifts are rare, but we assure you that it’s all true when you apply for selected credit cards!

For those who are new, the Unbox This Week Campaign is a weekly campaign where we present the best deals from our featured bank partners. All you have to do is apply for selected credit cards from these banks through RinggitPlus and you’ll receive exclusively selected gifts!

For this week (4 April – 11 April 2022), our featured bank partners include
Citibank, HSBC, Standard Chartered Bank, Alliance Bank, and Ambank
 – if you have considered applying for any of these banks, check out our latest deal below!

(Updated 7 April 2022)

Citibank – RM600 Shopee e-Voucher Guaranteed

Yes. An RM600 Shopee e-Voucher is guaranteed when you apply, get approved, and spend with a Citibank Credit Card. Shop for essentials such as groceries and toiletries, or use the extra cash to order in from ShopeeFood!

And we repeat, all successful applicants are guaranteed to receive an RM600 Shopee e-Voucher. To be eligible, applicants are required to apply for a Citibank credit card, activate and spend a minimum of 8 retail transactions on their new card within 60 days upon gaining approval.

Take note, though, that current cardmembers and individuals who have cancelled their Citibank credit cards within a year before this campaign do not qualify for this promotion. Otherwise,
apply for a Citi credit card here.

HSBC – Apple Watch Series 7

Innovated with the breakthrough health monitoring technology, the Apple Watch Series 7 allows you to step into your best, healthy self this year. Monitor your oxygen levels, heart rate, and challenge yourself to complete your
rings
for the day.

Capped at 10 units only, apply, get approved, and spend with a new HSBC credit card to win the Apple Watch Series 7. Other successful applicants will receive an RM600 Shopee e-voucher.

Just remember that current cardholders and applicants who were denied or have cancelled their HSBC credit cards within 6 months before this campaign are not eligible to take part in this campaign. Otherwise, you can
apply for your HSBC credit card here.

Standard Chartered Bank – PerySmith Cordless Vaccum Cleaner or Riino 3.5L Rapid Air Fryer

With festivities coming up, ease up spring cleaning duties with the PerySmith Cordless Vaccum Cleaner or impress the family with new meals with the Riino 3.5L Rapid Air Fryer.

These appliances are much needed at home but you can only pick one this time. Apply for a Standard Chartered credit card to choose the appliance that you need. Applicants are still required to activate their card within 30 days upon approval to be eligible for this prize.

Lastly, be aware that existing cardholders and individuals who have held a Standard Chartered credit card in the past 6 months are not eligible for this campaign. If you qualify, then you can
apply for your new Standard Chartered credit card here
.

Alliance Bank – Guaranteed RM200 Shopee e-Voucher or Riino Evolution V8 Super Cyclone Vacuum

Move those Shopee likes into your cart with the guaranteed RM200 Shopee e-Voucher, or get the guaranteed Riino Evolution V8 Super Cyclone Vacuum for cleaner and dust-free floors.

Every successful Alliance credit card applicant is given the choice to receive either the RM200 Shopee e-Voucher or Riino Evolution V8 Super Cyclone Vacuum. Applicants are required to activate their credit card upon approval to be eligible for the prize.

Existing cardholders of any Alliance Bank credit card and individuals who have held or cancelled an Alliance Bank credit card in the past six months are not eligible for this campaign.
Apply for an Alliance Bank Credit Card here.

Ambank – Morgan Air Fryer

We Malaysians love to
goreng!
Choose the healthier and less oily way of frying with the guaranteed Morgan Air Fryer. Perfect for home-cooked meals, celebrations, and tea-time with its rapid air circulation system, a multifunction to fry, roast and bake, and a non-stick coating pot for easy cleaning.

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

***

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

While this week’s flash deal ends on 11 April 2022 (11am), you can also follow us on our
Facebook page
 to receive the latest Unbox This Week offers as we refresh the deals every week.

0

0

votes

Article Rating

SHARE

TAGS:

Alliance Bank

AmBank

Citibank

HSBC

RinggitPlus Unbox This Week Campaign

Standard Chartered

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


ShopeePay Now Enabled As Payment Method On Google Play Store

Malaysians will now have the option to pay for their purchases on Google Play Store using ShopeePay, with the e-wallet having been enabled as a payment method on the digital content distribution platform.

Google Play Store has also updated its support page to include this latest development, noting that “[y]ou can use ShopeePay to buy apps and digital content on Google Play. You need a registered ShopeePay account with enough balance to use this service on Google Play.”

It’s a fairly straightforward process to add ShopeePay as a payment method on Google Play. Start by tapping on your profile icon in Google Play Store, followed by “Payments and subscriptions”. Next, tap on “Payment methods”. You’ll then see the option to add ShopeePay as one of your payment methods when purchasing content from Google Play. Select it, proceed with the subsequent instructions to verify your ShopeePay account – and you’re done!

If you’re ready to add ShopeePay on your Google Play Store account to make purchases some time soon, you can tap into an ongoing promotion that lets you enjoy RM4 cashback when you do so. Note that there is a minimum spend requirement of RM10, and each customer is only allowed to claim it once. Ending on 6 February 2022, the campaign will provide the cashback reward on a first-come first-served basis – capped at 30,000 users.

ShopeePay is the second e-wallet to be enabled on Google Play Store as a payment method. Early last year,
Touch ‘n Go (TNG) eWallet became the first e-wallet
 to be listed as a payment option on the platform.

0

0

votes

Article Rating

SHARE

TAGS:

Google

Google Play

Google Play Store

Shopee

ShopeePay

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


Save More On Your Favourite Meals With GrabFood’s Saver Delivery

Making a meal can seem like a chore, especially when you think about the multiple tasks involved – such as preparation, the act of cooking itself, and cleaning up after you cook. Eating out is always an option, but it can be costly and also time-consuming.

That’s why it’s no surprise that most of us have been relying on food delivery as a fast and budget-friendly option for our meals! If you’re a fan of getting good food delivered to your doorstep, then rejoice – GrabFood has expanded the Saver Delivery option to additional cities nationwide, providing a lower delivery fee option for consumers across the country.

Why Choose Saver Delivery

First piloted in November 2022, Saver Delivery is an option whereby users will be able to enjoy delivery fees from as low as RM1 on a wide range of restaurants on GrabFood in exchange for a  slightly longer delivery time. This is done by grouping orders in the same direction as a delivery-partner will travel. The estimated delivery time is usually stated with the option, so if you’re not in a hurry, Saver Delivery is the perfect option for you.

How To Access The Saver Delivery Option On GrabFood

Step 1: Open up the Grab app on your phone and make sure it’s updated to the latest version.
Step 2: Choose ‘Food’ and pick the restaurant of your choice.
Step 3: Order your food of choice.
Step 4: Once you’ve reached the checkout page, choose the ‘Saver’ option and tap ‘Place Order’.

After that, all you have to do is wait for your meal to arrive!

More For Everyone

Short on time? GrabFood has also introduced the Direct Delivery option, which provides a shorter delivery time for consumers who are in a rush to receive their orders. If you require your food to be delivered at a specific time, you can also opt to schedule your order.

If you happen to be close to your restaurant of choice, you could also opt for self-pickup, which would also allow you to save on delivery charges. Whether you choose Saver Delivery or other options, GrabFood has provided consumers with a wide range of convenient options for them to get their meals.

***

The expansion of the Saver Delivery and Direct Delivery options in the Grab app will make food delivery more accessible for consumers. The benefits also extend to delivery-partners, who will be compensated the same as other delivery options when allocated these orders. Both delivery-partners and merchant-partners alike will reap the advantages of the revamp as it provides a source of additional income opportunities.

So whether you’re at home ordering a delicious meal, or you’re working as a delivery-partner or merchant-partner, there’s something for everyone with the revamped delivery options!

Download the Grab app now on
iOS
 or
Android
 to access Saver Delivery and other options today.

4.7

3

votes

Article Rating

SHARE

TAGS:

Grab

GrabFood

GrabFood Direct Delivery

GrabFood Saver Delivery

About THE AUTHOR

Eloise Lau

Eloise Lau

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


PM Announces Urus Programme To Assist B50 Borrowers, Applications To Begin On 15 Nov 2021

(Image: The Star)

Prime Minister Datuk Seri Ismail Sabri Yaakob has announced the launch of the Financial Management and Resilience Programme (Urus), which is intended to assist borrowers in the B50 income group who are still struggling with financial woes. The programme is set to be implemented by the banking sector soon, with applications taking place between 15 November 2021 to 31 January 2022.

According to the prime minister, Urus will be a comprehensive loan payment support programme that is offered to those who earn a gross household income of less than RM5,800 per month. Among some of the facilities that will be offered as part of the programme include a three-month exemption on interest, reduction in instalment payments for up to 24 months, as well as reduced interest rates.

“During this period, customers with borrowings or financing and personal credit cards without guarantee can also enjoy lower interest to ease their financial burden,” said Datuk Seri Ismail in a statement, adding that the programme was drawn up between the banking sector and the Credit Counselling and Debt Management Agency (AKPK). He also stated that more details about Urus will be released by the Ministry of Finance soon.

(Image: Bernama)

Meanwhile, the Association of Banks in Malaysia (ABM), Association of Islamic Banking and Financial Institutions Malaysia (AIBIM), Association of Development Finance Institutions of Malaysia (ADFIM), and AKPK have also released a separate joint statement to shed more light on the Urus programme. They said that banks will be setting aside an estimated RM1 billion to fund the cost of the programme.

The statement further clarified that the scheme is open to individual customers who are under an existing repayment assistance programme (such as the
targeted repayment assistance
,
PEMERKASA Plus
,
PEMULIH
, as well as a bank’s rescheduling and restructuring programme) as of 30 September 2021. They are also required to meet certain eligibility criteria in order to apply for this programme, namely:

Falls under the B50 income group (household income of RM5,880 or lower, as defined by the Department of Statistics Malaysia (DOSM))
Loss of employment, or reduced income of at least 50%
Loan is not in arrears exceeding 90 days as of the date of their application

(Image: The Star)

Additionally, applicants who are not registered recipients of Bantuan Sara Hidup (BSH) or Bantuan Prihatin Rakyat (BPR) will be required to provide evidence when applying through their respective banks. Upon successful application, AKPK will provide borrowers with a personalised financial plan that takes into account their financial circumstances and ability to repay their financial obligations.

Prior to this, Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz had revealed that the AKPK will set up a
temporary assistance programme
 to help Malaysians who are still struggling financially after the expiry of various repayment aids provided under the PEMULIH economic package. Banks, too, had
submitted a counter proposal
 to an
earlier directive from the government
 to waive the interest fee for selected borrowers tapping into the ongoing six-month loan moratorium.

(Sources:
The Star
,
Free Malaysia Today
,
The Edge Markets
)

5

1

vote

Article Rating

SHARE

TAGS:

AKPK

Association of Banks in Malaysia (ABM)

Association of Development Finance Institutions of Malaysia (ADFIM)

Association of Islamic Banking and Financial Institutions Malaysia (AIBIM)

B40

B40 Households

B50

B50 Households

Bank Negara Malaysia

BNM

Credit Counselling and Debt Management Agency

Datuk Seri Ismail Sabri Yaakob

Financial Management And Resilience Programme (Urus)

Interest Charges

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


Merchantrade Insure-Life Sets Record As Life Insurance Plan With Lowest Premium

(Image: The Sun Daily)

The Malaysia Book of Records has acknowledged Merchantrade Insure-Life as the life insurance plan with the “lowest life insurance premium, starting from as low as RM1 per month”.

Underwritten by MCIS Insurance Berhad (MCIS Life) and marketed by Merchantrade Asia Sdn Bhd, the plan aims to make protection plans more accessible for the underserved segments in Malaysia. It has several options on offer, with varying annual or monthly premiums, yielding sum insured of up to RM20,000 in the event of death from any cause, and up to RM40,000 for death by specific illnesses.

The recognition from Malaysia Book of Records is awarded due to the Merchantrade Insure-Life (Plan B), which comes across as the most basic with its annual premium set at only RM12 (RM1 per month). It offers policyholders a basic sum insured of RM4,000, payable for death of the life assured on all causes, including Covid-19. Meanwhile, RM8,000 will be paid for death of the life assured caused by specific illnesses, including dengue, chikungunya, malaria, Japanese encephalitis, avian influenza, or the Zika virus.

The
Merchantrade Insure-Life plan
 is available for purchase at all Merchantrade retail branches and through the Merchantrade Money e-wallet. Eligible B40 individuals can also redeem the plan using their Perlindungan Tenang vouchers (worth RM75) that are recently offered by the government under Budget 2022. To clarify, this voucher was originally worth RM50 when it was
first launched back in September 2021
.

In accepting the distinction, the chief executive officer and managing director of MCIS Life, Prasheem Seebran emphasised the importance of providing social protection for all underserved segments, including migrant workers. “Migrant workers play a significant role in driving the country’s economic growth, thus it is important to ensure this segment of the population who work alongside Malaysians, have equitable access to financial protection during uncertain times,” he said.

(Source:
The Sun Daily
)

5

1

vote

Article Rating

SHARE

TAGS:

Life Insurance

MCIS Insurance Berhad (MCIS Life)

Merchantrade

Merchantrade Asia Sdn Bhd

Merchantrade Insure-Life

Merchantrade Money

The Malaysia Book Of Records

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


Malaysia’s Unemployment Rate In May 2022 Remains At 3.9%

(Image: The Star/Yap Chee Hong)

Malaysia’s unemployment rate in May 2022 remained unchanged from the
previous month
 at 3.9%, according to the latest labour report from the Department of Statistics Malaysia (DOSM). Despite that, the number of unemployed persons declined by 1.8%, from 649,300 persons in April to 637,700 persons in May.

Based on the report, 83.7% of the total unemployed persons in May consisted of actively unemployed persons – described as individuals who are unemployed and are actively seeking employment. The number of actively unemployed persons decreased by 1.6%, from 542,900 persons in April to 534,000 persons in May. Additionally, 58.6% of the total unemployed persons were unemployed for less than three months, while 6.9% were without a job for more than a year.

Meanwhile, the number of inactively unemployed persons – defined as those who believe that there are no jobs available – fell by 2.5%. This translates to a decrease from 106,400 persons in April to 103,800 persons in May.

As for the number of employed persons, the labour report indicated that this category posted an increase of 0.3%, from 15.85 million persons in April to 15.9 million persons in May. The employee’s category – which encompassed 76.2% of the employed persons’ group – rose by 0.2%, from 12.09 million persons in April to 12.11 million persons in May. Similarly, the own-account worker’s category also improved from 2.72 million persons in April to 2.74 million persons in May, recording a 0.7% increase.

In addition, the labour report also noted that the number of employed persons who were temporarily not working in May rose by 6.5% to register 94,100 persons, as compared to 88,300 persons in the previous month. The increase was in part due to the Aidilfitri festive season during the month.

On the overall labour force performance in May, chief statistician of DOSM, Datuk Seri Dr Mohd Uzir Mahidin remarked that the labour market has continued to stabilise. This was in line with the full operation of all economic activities in the country.

“The encouraging economic activities during the month (May) stimulated more demand for goods and services, thus providing more opportunities for businesses to revive their revenues. The labour market is also observed to expand as more demand and supply of labour prevails in the market to accommodate the needs of the growing economic activities,” Datuk Seri Dr Mohd Uzir further said, noting that the labour force situation in May remained resilient with steady employment growth and further decrease in unemployment.

(Image: Malay Mail/Shafwan Zaidon)

However, Datuk Seri Dr Mohd Uzir commented that the rising prices of commodities in the market have directly affected Malaysia’s economic recovery. This is made worse by China’s zero-Covid policy, which led to a delay in the supply of materials, thereby affecting the manufacturing sector.

Despite the situation, the chief statistician remarked that the labour market in the country is expected to continue to be on a positive trajectory in the coming months. This will be driven by the full operation of all economic sectors and social activities, as well as the entry of foreign labour into the country to address labour shortages in certain industries. However, the country’s recovery will also be influenced by the impending effects of the global inflationary pressures, he added.

(Source: DOSM [
1
,
2
,
3
])

0

0

votes

Article Rating

SHARE

TAGS:

Datuk Seri Dr Mohd Uzir Mahidin

Department of Statistics Malaysia

DOSM

Labour Force

Labour Force Survey Report

Malaysia Unemployment Rate

Unemployment

Unemployment Rate

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


Affin Bank Announces Collaboration With MYTHEO, First Of Its Kind In Malaysia

Affin Bank has announced Malaysia’s first collaboration between a bank and robo advisor, together with MYTHEO.

The collaboration will see new and existing Affin Avance customers to accumulate wealth leveraging on the
inherent benefits offered by MYTHEO
. In addition, Affin Avance customers will also enjoy additional benefits for a limited time, including:

3 months management fee waiver by MYTHEO (for subscriptions between 20 May to 30 November 2022)
Complimentary 1-year Group Personal Accident coverage up to RM50,000 for subscribers with an AUM (Assets Under Management) of RM5,000

In a statement, President and Group Chief Executive Officer of Affin Bank Datuk Wan Razly Abdullah said that the collaboration offers another investment option for
Affin Avance
 customers, which enhances the bank’s lineup of financial solutions.

“There is an increasing demand for more convenient avenues to invest. Such collaborations to provide a robo-advisory service for our customers bode well with their evolving needs, rapid technological advancement and shifting market dynamics. Affin Bank aspires to be at the forefront in providing a simpler and more accessible avenues for our customers to grow their wealth with us,” he added.

CEO and Managing Director of GAX MD Sdn Bhd Mr Ronnie Tan said, “the partnership is another step in the company’s vision to help more people achieve their financial goals and enable their moments in life.

Affin Avance customers can start enjoying the benefits of the collaboration with MYTHEO from tomorrow (20 May). Interested customers may visit any Affin Bank branches, or visit the
Affin x MYTHEO landing page
 for more information.

0

0

votes

Article Rating

SHARE

TAGS:

Affin Avance

Affin Bank

Datuk Wan Razly Abdullah

MYTHEO

Ronnie Tan

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


CIMB Makes SecureTAC Authorisation Mandatory For Online Transactions Of RM100 And Above

CIMB has announced that customers are soon required to approve all CIMB Clicks web transactions of RM100 and above using its SecureTAC authorisation feature on the CIMB Clicks app. This is set to take effect starting from 5 December 2022.

In its notice, CIMB explained that this latest update will apply to various transactions, including non-favourite fund transfers, bill payments, and prepaid top-ups. Additionally, it is rolled out as part of the bank’s enhanced security measures.

To note, CIMB’s SecureTAC lets you authorise your transactions with an in-app one-tap approval method, as opposed to manually keying in a six-digit SMS TAC sent via a third-party telco service provider. It is also the bank’s preferred alternative – said to be more secure – as it begins to
move away from SMS OTPs
 following a directive by Bank Negara Malaysia (BNM) for all banks to beef up their online security systems with
five additional safeguards
.

As such, all CIMB Clicks users are reminded to turn on notifications in Settings to ensure that they can receive their SecureTAC alerts immediately when performing their transactions. “If your notifications are turned on, you can tap the notification to go straight to your app. If you don’t, you will need to open the app [CIMB Clicks], swipe left on homescreen, and select ‘SecureTap’. Tap on ‘Approve’ to proceed with the transaction,” the bank explained.

CIMB had also recently implemented another security measure that allows customers to register only
one device for the authentication of banking activities via SecureTAC on their CIMB Clicks app
. Previously, customers were allowed to activate SecureTAC on a maximum of two devices, and log in to a maximum of two devices with their CIMB Clicks ID. This measure was also introduced in accordance with BNM’s directive.

You can download the CIMB Clicks app from
Google Play
, the
App Store
, and
Huawei AppGallery
.

(Source:
CIMB
)

0

0

votes

Article Rating

SHARE

TAGS:

Bank Negara Malaysia

BNM

CIMB

CIMB Clicks

CIMB Clicks Mobile App

CIMB SecureTAC

SMS TAC

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


IRB Releases A Taxpayer Roadmap To Show Income Tax Processes

The Inland Revenue Board (IRB) has released a “Taxpayer Roadmap” for the benefit of the general public. The roadmap shows a taxpayer’s journey – from the basic processes like filing taxes to the more complicated procedures like appeals and litigation.

The Taxpayer Roadmap breaks down the income tax journey into eight steps. Most taxpayers are already familiar with the first two steps: tax return preparation and tax return processing. While not all taxpayers have cause to worry about the rest, the roadmap also details further income tax processes concerning audit, investigation, tax collection, civil recovery, criminal prosecution, and appeals.

“It was developed to assure and enhance the taxpayer’s confidence on the transparency of every action taken by the IRB,” said the Inland Revenue Board in a statement. “The IRB Taxpayer Roadmap also helps the IRB officers know the parameters and relationship of their duties with other officers, thus facilitating the monitoring of the status of their tasks and improving their service delivery.”

The Taxpayer Roadmap, which was launched by Finance Minister Lim Guan Eng, is available for download in both BM and English on the
IRB portal
. It will also be made available at IRB service counters.

(Source:
Bernama
)

0

0

votes

Article Rating

SHARE

TAGS:

Filing Income Tax

Income Tax

Inland Revenue Board

IRB

IRB Taxpayer Roadmap

Lembaga Hasil Dalam Negeri

LHDN

Taxpayer Roadmap

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


Online Pharmacies Reduce Prices For Covid-19 Self-Test Kits Ahead Of Actual Compliance Date

Online retailers on Lazada and Shopee have begun reducing the prices of Covid-19 self-test kits over the weekend to meet the
government’s new ceiling prices for the test kits
. This is despite the
one-week grace period
 from the original 5 September date as announced by the Ministry of Domestic Trade and Consumer Affairs (KPDNHEP) to allow more time for retailers to comply with the ceiling prices.

This is good news for consumers, as Malaysians can now purchase the Covid-19 rapid test kits at a much more affordable rate – and is especially important considering the increased self-testing requirements from individuals as the government relaxes more SOPs in the future.

A quick check on Lazada revealed that virtually all active retailers have updated their prices to comply with the ceiling prices. Interestingly, some retailers are even selling some test kits below the ceiling price, such as the
Beright RTK at RM16.50
 the lowest we found.

You can also make bulk order purchases at lower prices – this
pharmacy store in Lazada
 offers a variety of rapid test kits in
1, 5, and even 100-box units with prices starting from RM16.50 per box
. We recommend checking further to get the best prices from reputable pharmacies on Lazada such as
Healthlane
,
Sunway Pharmacy
, and
BIG Pharmacy
 – they may have special deals especially when the 9.9 sales is just a few days away.

Interestingly, Shopee appears to still disallow listings for Covid-19 rapid test kits. From our observation, searches including keywords such as “covid 19 self test kit”, “rapid test kit”, and others like them yielded zero results. Shopee’s PR informed us that this was in line with the government’s SOPs and the Medical Device Authority’s guidelines on the sale of self-test kits, which can only be sold in pharmacies, so this could be Shopee adhering to the SOPs. That said, with many pharmacies selling these kits on their Lazada stores but not on their Shopee stores, there does appear to be
some confusion on the latest guidelines
.

In any case, it’s probably worth having some of these test kits on hand, and being able to purchase them online makes them much more accessible to consumers – especially when it’s recommended to stay at home as much as possible. That said, be sure to purchase them from reputable sellers such as the major pharmacies on Lazada and Shopee (if/when they are available to), and that they are among
brands approved by the Ministry of Health
.

0

0

votes

Article Rating

SHARE

TAGS:

Covid-19

Covid-19 Self-Test Kits

Covid-19 Self-Test Kits Ceiling Prices

Lazada

Shopee

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


honor 8X and honor Band 3 Launched In Malaysia, Priced Competitively

Huawei’s sub-brand, honor, has announced the arrival of the honor 8X and the honor Band 3 for the Malaysian market. Honor’s highly anticipated mid-range smartphone and its latest fitness band will be available from this week, and is priced atr RM949 and RM112 respectively.

honor 8X

Featuring a notched 6.5-inch Full HD+ (2340×1080) display, the honor 8X runs on an octa-core Kirin 710 processor with 4GB of RAM. Additionally, honor’s latest phone packs Huawei’s GPU Turbo technology, which enhances gaming performance.

The honor 8X comes with a 3,750 mAh battery, a 20MP+2MP dual rear camera, a 16MP front camera, a rear fingerprint sensor, and a Face Unlock mode. The device also supports two nano SIM cards and a microSD card slot which complements the phone’s internal 128GB of storage with up to 256GB more.

The honor 8X will be available for purchase on honor’s website and Shopee starting 12 October and is priced at RM949. Customers who purchase the phone on 12 Oct will be given a free clip cover, a RM100 voucher, a gift box, and an honor Band 3. The device will also be available for offline purchase starting 13 October with the same freebies plus an additional backpack.

honor Band 3

(Image: Geeky Splash)

honor also unveiled its new wearable, the honor Band 3. Looking to challenge the
Mi Band 3
, the honor Band 3 is water resistant up to 50 meters underwater, and has features such as an independent alarm, built-in vibration, heart rate sensor, and sleep tracking on top of the pedometer that tracks your steps.

Aesthetically, the honor Band 3 features 0.9-inch PMOLED display, which is bigger than the Mi Band 3’s 0.78-inch OLED display. Besides that, the honor Band 3 packs a 110mAh battery, which honor claims to be able to last for 30 days on normal usage.

The honor Band 3 will be available on 15 October on honor’s website with the price tag of RM119. As mentioned above, customers who purchase the honor 8X will receive the fitness band as part of the package.

(Source: SoyaCincau (
1
) and (
2
))

0

0

votes

Article Rating

SHARE

TAGS:

Gifts

Huawei

Shopee

Xiaomi

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


Optimised For Business, Built For Professionals - Dell Latitude Business Laptops

The introduction of hybrid working is slowly taking over workplaces around the world and in Malaysia, it seems like
it’s here to stay.
 A survey conducted recently by the Malaysian Employers Federation (MEF), found that
61.7% of companies
 are looking to continue the latest work arrangement as it saved costs, accelerated digitalisation, and there was less stress over commuting to work.

As a safer and more practical working environment model for both employees and employers, there’s now a need to adopt workspaces that can simplify and unify both working environments, in both the office and remotely.

Elevate Your Productivity With Dell Latitude Business Laptops

Any professional who constantly switches from their home office to the workplace must equip themselves with a capable yet durable machine to work from anywhere. Starting from an affordable price of RM 3,499, Dell’s business laptops from the Latitude range offer professionals performance, practicality, and style.

The Dell Latitude range is powered by the 11th Gen Intel® Core™ Processors line-up, and with the Core™ i7 processor, users can expect greater performance with a smoother user experience. This noticeable improvement becomes clear during start-ups, switching between programs, launching heavy software such as Adobe programs, and more.

Better performance when paired with great connectivity carves for an even better performance, which is why the laptops are also equipped with Intel® Wi-Fi 6 (Gig+) offering up to 3 times faster speed and bandwidth. Apart from Wi-Fi, users can also stay connected through 4G LTE, 5G, and even eSIM so business travellers can travel and work at ease.

Another beautiful feature that enhances the user experience of Dell Latitude laptops is the Dell Optimizer. The Dell Optimizer works by learning how you typically use your laptop with AI and machine learning – personalising your user experience by improving the performance in ways such as prioritising mostly used applications with ExpressResponse, extending battery life with ExpressCharge, as well as adapting connectivity for faster bandwidth speeds with ExpressConnect wherever you are.

Innovative & Timeless Design With Practicality

Without compromising performance, the Dell Latitude laptops, specifically the 7000, 5000, and 3000 series, were redesigned to become compact yet lightweight machines. This allows you to comfortably pick it up, pack it, and work from anywhere.

As you move from your home workspace to the office, and vice versa – a Latitude laptop provides you with a variety of ports that include Type-C Thunderbolt™ 4, USB 3.2, HDMI, External eSim slot, and more.

Moreover, all Dell Latitude laptop displays come with ComfortView Plus. Simultaneously displaying excellent colour and pixels, the always-on Comfort View Plus features reduce the harmful blue light that’s known to cause digital eye strain and dry eyes.

In terms of design and sustainability, the 5000 Series laptops are built with reclaimed carbon fibre, while the lid is made with 21% bioplastics from trees.

Other range-wide Latitude features include modern keyboard and touchpads, thermal-cooling narrow border 4K and FHD screens, the latest camera innovations for sharper visuals and resolution, and intelligent audio for conferencing.

Dell Technologies Unified Workspace

For businesses looking to improve collaboration, connectivity, and productivity within the company, Dell Technologies Unified Workspace offers that and more by simplifying working environments through a comprehensive digital solution that supports devices from the cloud.

Have peace of mind knowing that your devices for your business can be deployed, secured, supported, and managed hassle-free by your IT department with the help of Dell Technologies.

Wherever your employees are, Dell can deliver machines to your employees safely with leading UEM (Unified Endpoint Management) providers. Even before deployment, devices are secured so that data and access cannot be compromised offering your employees safe collaboration with their team members from anywhere.

With Dell Technologies, your IT department can also manage and support fleet devices on the cloud with Dell Client Command Suite and Dell ProSupport for PCs to easily set up, monitor, and update devices without having to travel or physically be there to solve issues.

Receive Complimentary Data Migration Service With Your Purchase

Now that you’ve read the advantages of supporting your employees with capable Dell Latitude devices and Dell Technologies, you can also enjoy a complimentary M170/M171 Logitech Mouse with every unit purchased. If you purchase 10 units and above, you also get to receive a complimentary data migration service for your business with
Dell EMC Intelligent Data Mobility
, allowing you to organise business data without sacrificing time and cost.

For better financing repayments for your Dell Latitude device fleet, SNS Network offers 36-month instalments so you can experience improved productivity within your business while maintaining your cash flow.

In brief,
SNS Network
 is an established Malaysian-based Information Communication Technology (ICT) solutions provider for consumers, businesses and other institutions. In regards to their expertise, SNS Network is also a certified Dell Technologies Titanium Partner, which allows SNS Network to expertly deliver both products and services of Dell.

For more information on Dell Latitude laptops, head to their
website here
 or connect with a sales representative by filling out this
form
.

0

0

votes

Article Rating

SHARE

TAGS:

Dell

Dell Latitude

Dell Technologies

SNS Network

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


Prasarana Will Give RM1,000 In Compensation To LRT Crash Victims, Bear Medical Costs

(Image:  Firdaus Latif via Malay Mail)

Prasarana Malaysia will be giving RM1,000 in compensation to all 213 victims in the LRT train collision that took place last night. In addition to that, the company will also be paying for the hospital fees of the victims, together with further compensation for those facing temporary loss of income.

According to Prasarana chairman Tajuddin Abdul Rahman, 64 passengers were still hospitalised, with six in critical condition and three requiring ventilators. Prasarana will be covering the medical costs of every victim until they are discharged.

(Image: Free Malaysia Today)

Investigations into the harrowing crash are set to be completed in two weeks’ time. Tajuddin said, “This is a tragedy and accident beyond our control. We took all the necessary steps to make sure our services are safe. You can’t say our service isn’t safe. This is the first (incident of its kind). We are doing our best to maintain the safety levels.”

The
collision
 took place between the automatic passenger train and an empty train with a driver in the underground portion of the Kelana Jaya LRT line . With almost all 213 passengers sustaining either heavy or light injuries, the accident is the worst to involve any of Malaysia’s modern transit rail lines.

(Source:
Free Malaysia Today)

0

0

votes

Article Rating

SHARE

TAGS:

Compensation

Hospitals

LRT

Medical Bills

Personal Accident

Prasarana Malaysia

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


CIMB Bank Credit Cards Treats You to Chocolate at the Millenium Hotel

Pay with your CIMB Bank Credit Card and receive an instant 25% discount for Chocolate Hi-Tea at the luxurious Millenium Hotel, Kuala Lumpur.

The Chocolate Hi-Tea features an array of desserts and drinks all featuring chocolate.

The offer is valid until 31 July 2013 and only for a minimum of two diners. Prior reservation is required. To make a reservation or further enquiries, please call 03-21174888.

Please refer to the terms and conditions on
CIMB Bank’s
 page.

0

0

votes

Article Rating

SHARE

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


CIMB Credit Cards Swipe and Win the New iPhone 5

CIMB was the first Malaysian bank to launch an iPhone 5 giveaway promotion. From the 15th of October 2012 until the 31
st
 of January 2013 they are giving away two iPhone 5s every day via
the Swipe and Win the New iPhone
 campaign.

Cardholders need to spend a minimum RM50 in a single receipt with a CIMB Bank credit card or debit card to earn an automatic entry. Use your card overseas and every RM50 charge wins you five competition entries!

New cardholders making their first transaction of RM50 or more will automatically have ten chances of winning an iPhone 5. Transfer the balance from another credit card to your new CIMB card and you’ll be awarded a further ten entries.

0

0

votes

Article Rating

SHARE

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


2020 Malaysian Bank Ang Pow Designs: A Totally Subjective Review

The young ones love them. The grown ups collect them. Whether you are a recipient or a giver of them, ang pows are a cultural staple during the Chinese New Year festivities.

Unsurprisingly, in the last decade or so, retailers, malls, and of course, banks have turned the tradition of ang pows into a little competition – who can create the best-looking ang pow?  It’s not just for bragging rights, of course – here’s a medium which, if used right, can be a powerful branding tool. If your brand’s ang pow is unique/looks great, they will more likely be used more often – better than going viral!

So, which bank has the best-designed ang pow for CNY 2020? With great labour we collected the ang pows from (almost) all the banks in Malaysia which offer them, and our 3-man panel of severely underqualified judges from the RinggitPlus editorial team sat down and gave our critique. Let’s go!

Affin Bank

An ang pow that folds at the top, but with a sideways design. Add to that a motif that looks like it was taken from a stock photos site makes Affin’s ang pow for this year rather bland. One star.

HUAT meter:

H

Alliance Bank

At first glance Alliance Bank’s design looks simple and unobtrusive, but a closer look shows this ang pow design has a lot to offer. From the cute reunion dinner motif to a hidden QR code for DuitNow transfers, it’s a solid effort from Alliance. Two and a half stars.

HUAT meter:

H U.5

AmBank

We really like AmBank’s colour choices for its ang pow design this year. With a unique gradient colour scheme, the rat painting auspicious words with its tail, and the serene white flowers at the top, AmBank’s ang pow certainly stands out. Three stars.

HUAT meter:

H U A

CIMB Bank

The kind of ang pau one would use to decorate the house with, thanks to the gold paint around the flowers and auspicious words printed on the front and back. Two stars (because we can use it for other purposes).

HUAT meter:

H U

CIMB Preferred

With a darker red tone, CIMB Preferred’s ang pow looks classier than the conventional banking variant. An interesting use of blue hues in the flower motif gives it a distinctive look among this year’s ang pows. Two and a half stars.

HUAT meter:

H U.5

Citi

One could almost accuse Citi of cheating, thanks to a huge four-colour option for this year’s ang pow design. Available as a pack of red, pink, peach, and gold packets (two per colour per pack), the colours further bring out the vibrancy of the ang pow design, which nicely straddles the line between modern and timeless. Three and a half stars.

HUAT meter:

H U A.5

Hong Leong Bank

Available in two colours (red and deep purple), it’s the only bank ang pow that folds on the side (vs the traditional top). We like the gold highlight along the fold. Classy, and made from thick paper. Three stars.

HUAT meter:

H U A

HSBC

We’re not sure what HSBC is going for with its 2020 ang pow design. There are Chinese lanterns, there are clouds, there are flower motifs, and they all have some 3D effect that didn’t really work. Also, points deducted off the HUAT meter for having so much empty space at the bottom, and virtually none at the top – it’s driving our OCD crazy! One star.

HUAT meter:

H

Maybank

We’re probably spoilt by some of the better ones in this list, but while it’s not exactly ugly, Maybank’s serene take for this year doesn’t really inspire. It’s inoffensive, and doesn’t try to be…anything, actually. One star.

HUAT meter:

H

OCBC

Ang pows with conscience. OCBC’s 2020 ang pow designs offer a reminder of our impact on Mother Earth and the need to conserve it. The two colours both have different designs, but neither of them are actually Chinese New Year-sy. One star.

HUAT meter:

H…eal the world, make it a better place…

Public Bank

Oh boy. Flower designs that look like a Tangela. Badly-painted fishes with odd colours. The off-centre Chinese character. This design was one of the few that we unanimously agreed on something. Too bad we agreed that it’s the worst design of the lot. No stars.

HUAT meter:

*error*

RHB

Another bank that attempted a 3D effect on its ang pow this year, with middling effect. It’s not overbearing though, and the minimalist feel of it actually helps it stand out. Two stars.

HUAT meter:

H U

RHB Premier

Everybody say it out loud: ex-clu-sive. It’s clear RHB put a lot more effort into its premier banking ang pow designs (they come in two choices per pack), and even includes information on the motif. It’s a premium touch, and we like that there’s a choice between a red-on red ang pow and a cool red ang pow with a muted bronze highlight paint instead of the common gold. Three and a half stars.

HUAT meter:

H U A.5

Standard Chartered Bank

The paper is thick and nice. The simplistic design caused a lengthy debate among us. Is it minimalist? Is it lazy? We can’t decide. Two stars.

HUAT meter:

H U

UOB Bank

This will not be everyone’s cup of tea, but wow, UOB’s ang pow design for 2020 gave us so much joy. The cute round rat and circular theme is fun and (possibly) a reminder of what will happen if we ate too much during the festive season. The bold pink option is the “special edition” one, and like all special-edition releases, this one’s got a cool sheen on the mice that plays with the light as you move it around.
Delightful.
Four stars.

HUAT meter:

H U A TTTTTT AHHH

—————-

Disclaimer: the HUAT meter is made up and the points don’t matter. Do let us know in the comments which is the best bank ang pow design for you.

The RingitPlus team wishes everyone a happy Chinese New Year!

5

1

vote

Article Rating

SHARE

TAGS:

Affin Bank

Alliance Bank

AmBank

Ang Pau

Ang Pow

Ang Pow Designs

Bank Ang Pau

Bank Ang Pow

Chinese New Year

CIMB Bank

CIMB Preferred

Citi

Citibank

Hong Leong Bank

HSBC

HSBC Bank

Maybank

OCBC Bank

Public Bank

RHB Bank

RHB Premier

Standard Chartered Bank

UOB Bank

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

 (2)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

2
 Comments

 Inline Feedbacks

View all comments

    Ah Ming

    3 years ago

CITI

0

Reply

    Babbyelvianana

    3 years ago

Bank simpanan nasional

0

Reply


Samsung Galaxy S22 Series Open For Pre-Orders In Malaysia; Includes Freebies Worth RM1,317

Late last night, Samsung officially announced the new Galaxy S22 series. Available in the usual three models – the S22, S22+, and the S22 Ultra, the South Korean company has also launched the Malaysian pre-orders offering freebies worth RM1,317.

Each model of the S22 series will be available in a few variants with different storage options, and they will retail in Malaysia at the following prices:

Galaxy S22 5G 128GB: RM3,499
Galaxy S22 5G 256GB: RM3,699

Galaxy S22+ 5G 128GB: RM4,099
Galaxy S22+ 5G 256GB: RM4,299

Galaxy S22 Ultra 5G 8GB + 128GB: RM5,099
Galaxy S22 Ultra 5G 12GB + 256GB: RM5,499
Galaxy S22 Ultra 5G 12GB + 512GB: RM5,899

Samsung Galaxy S22 Ultra

The highlight of yesterday’s launch was undoubtedly the Galaxy S22 Ultra. Merging the Galaxy Note’s iconic S Pen and design language to the sleek S series, the S22 Ultra stands out both in features and design – a true successor to the Galaxy Note 20 Ultra from two years back.

Besides the integrated S Pen, the S22 Ultra’s hardware features another major upgrade: a new 4nm processor confirmed to be the Qualcomm Snapdragon 8 Gen 1 chipset – this marks the first time Samsung Malaysia is opting for the Snapdragon variant over the Exynos chipsets in the past.

Otherwise, the rest of the S22 Ultra’s hardware feature incremental upgrades from last year’s model. There’s an upgraded 6.8-inch Dynamic AMOLED 2X display with 1-120Hz variable refresh rates with Vision Booster and Eye Comfort Shield, a similar quad-camera setup at the rear (a new 108MP main camera, 12MP ultrawide, 10MP 3x camera, 10MP telephoto for 10x optical zoom) and a 40MP front camera. It’s also got the same 5,000mAh battery as the S21 Ultra (impressive considering the S22 Ultra has a built-in S Pen) with 45W wired and 15W wireless charging, and the option of 12GB memory for the higher-end variants.

Samsung Galaxy S22 & S22+

Meanwhile, the Galaxy S22 and S22+ are strikingly similar in design to last year’s S21 series, including the signature Contour-Cut metal camera housing. Both models include a new 50MP main camera sensor that’s 23% larger than last year, and feature new software technologies including Adaptive Pixel and Nightography.

The Galaxy S22 features a more comfortable 6.1-inch display, while the S22+ sports a 6.6-inch screen – both featuring Dynamic AMOLED 2X panels with Intelligent Vision Booster technology. Both the S22 and S22+ come with 8GB of RAM and 128GB/256GB storage options. As for battery, the smaller S22 has a 3,700mAh unit while the S22+ has a 4,500mAh battery; both offer fast wired and wireless charging (the S22 supports 25W wired charging while the S22+ supports 45W wired charging).

Galaxy S22 Malaysia Pre-Order Info

As mentioned earlier, customers stand to enjoy freebies worth up to RM1,317 by pre-ordering any of the S22 models. This year, the Galaxy S22 series pre-order starts from 10 February 2022 until 3 March 2022 and the S22 Ultra’s pre-order gifts are slightly different to the S22 and S22+:

Galaxy S22 Ultra pre-order gifts:
 RM800 eVoucher, Silicone Cover with Strap, Galaxy x LAMY Safari Twin Pen, Lucky Box (1x wide strap for Silicone Cover with Strap)
Galaxy S22 & S22+ pre-order gifts:
RM800 eVoucher, Silicone Cover with Strap, Camera Filter Mount, Lucky Box (1x wide strap for Silicone Cover with Strap)

Note that the RM800 eVoucher is valid from 23 February until 30 March 2022, and can only be used for the next purchase of Galaxy Wearables and Samsung branded mobile accessories. As usual, you can pre-order through various channels, from Samsung’s official online store, offline Samsung Experience Stores, authorised partners, and authorised online partners in Lazada and Shopee.

5

1

vote

Article Rating

SHARE

TAGS:

Galaxy S22

Samsung

Samsung Malaysia

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


CTOS Offers Free MyCTOS Credit Score Reports To Celebrate Merdeka Month

Credit reporting agency CTOS is currently offering free MyCTOS Score credit reports (with CCRIS) for new customers who sign up for CTOS’ self-check service via its website. This offer is made in conjunction with the upcoming National Day celebration, and will run until 31 August 2023.

In its press release, CTOS explained that the free report – which ordinarily costs RM26.50 per report – will contain your CCRIS, which is a statement of all the credit or loans that you have with banks. It provides valuable insight into your credit health, including detailed debt information, payment histories for credit cards and loans, account balances, credit limits, and credit inquiries.

In addition to that, the report also displays other relevant financial information, such as ongoing legal cases that you’re involved in, bankruptcies, directorships, and other non-bank debts – all information that financial institutions will use to decide if they should approve or offer you credit.

In fact, group chief executive officer of CTOS Digital, Erick Hamburger said that more Malaysians have begun to realise the importance of regularly checking their credit scores to maintain a good credit health. This is indicated by the increase in average credit score of the Malaysian population from 663 in 2020 to 678 in 2022.

“CTOS plays an important role in advocating essential credit health practices. Credit health is a vital aspect of financial wellbeing. It affects the ability to secure loans, get better interest rates, and even impacts various life milestones like buying a car or purchasing a home. By regularly monitoring credit reports, addressing inaccuracies, and practising responsible credit habits, consumers can proactively strengthen their financial future,” said Hamburger.

Note that only new CTOS customers are allowed to participate in this campaign to claim a free report. If you’re eligible and would like to get your free MyCTOS report, simply head on over to
CTOS’ website here
 and sign up for a CTOS ID account. Once successfully registered, log into your dashboard, and scroll down to click on “View Last Report” to claim your free MyCTOS report.

To date, more than three million Malaysians have signed up for the CTOS self-check service. Aside from the MyCTOS score report (with CCRIS), CTOS also provides other offerings, including the
CTOS SecureID
 that comes with fraud protection and credit monitoring.

(Source:
CTOS
)

2.3

3

votes

Article Rating

SHARE

TAGS:

Building Credit Scores

Credit Score

CTOS

Erick Hamburger

MyCTOS Score Report

Promotional Campaigns

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

 (1)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

1
 Comment

 Inline Feedbacks

View all comments

    Saravanan a/l maheswaran

    15 days ago

Black list

0

Reply


AIA Malaysia Launches Two New Critical Illness And Medical Insurance Plans

(Image: BFM News)

AIA Malaysia has introduced two new health plans for its consumers, namely the A-Life Beyond Critical Care plan and the A-Plus Total Health plan.

The A-Life Beyond Critical Care plan is a comprehensive critical illness plan that provides coverage for 180 conditions, including early detection to prevention as well as from treatment to recovery. Meanwhile, the A-Plus Total Health plan is a takaful medical plan that lets you cover up to 6 family members.

A-Life Beyond Critical Care

A-Life Beyond Critical Care covers you for a total of 180 conditions up to 80 years old, spread across early, intermediate, and advanced stage critical illnesses. If you’re diagnosed with any of the critical illnesses listed, you will receive a lump sum payment of 100% of your coverage amount.

Aside from the financial coverage, the plan also entitles you to a personal medical case management (PMCM) service, allowing you to tap into a variety of medical benefits. Additionally, you can reap a maturity benefit of up to 150% of the total premiums that you have paid for this policy when your plan matures.

The plan also has several extra advantages for AIA Vitality members. Depending on your AIA Vitality status and your coverage amount, you will be able to claim a biennial health screening benefit of between RM300 to RM600. In the event that you are diagnosed with a critical illness covered by the plan, you’ll also be entitled to the recovery support benefit. Moreover, AIA Vitality members can claim yearly cash bonuses starting from the end of the first policy year.

Lastly, all policyholders have the choice to enhance their A-Life Beyond Critical Care plan with an optional A-Plus Beyond Advance Care package, boosting certain benefits in the main plan.

A-Plus Total Health

Meanwhile, the A-Plus Total Health is a takaful medical plan with a coverage period of up to 80 years old, providing you with protection when you seek treatment and also safeguarding you against escalating medical costs. It also lets you include up to 6 family members under a single plan, making it a “one-stop health solution” for your family.

To begin, customers are allowed to customise their A-Plus Total Health plan according to their budget and needs. You can choose from a few plans and deductible options to determine your contribution for the plan. Depending on your choices, you’ll get medical protection of up to RM2 million a year.

Additionally, the plan comes with AIA’s Health Wallet feature, allowing you to utilise up to RM300 per year for health screening and vaccination – as well as a personal medical case management (PMCM) service similar to the one offered in the A-Life Beyond Critical Care plan.

Again, AIA Vitality members are accorded some extra perks in this plan, such as giving you up to 100% increase of your initial room and board entitlement and boosting your Health Wallet amount by up to 10% each year.

If policyholders choose to extend the medical coverage of this plan to include their family members, each family member will be accorded his or her own annual limit and Health Wallet.

***

To learn more about AIA’s new
A-Life Beyond Critical Care plan
 and
A-Plus Total Health plan
, head on over to AIA’s website.

5

1

vote

Article Rating

SHARE

TAGS:

A-Life Beyond Critical Care

A-Plus Total Health

AIA

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


New GrabFood Corporate Subscription Plan: 10% Off Orders At Only RM1 Per Month

Selected Grab users are able to purchase Grab’s latest subscription plan for GrabFood, the GrabFood Corporate Subscription plan. For a nominal fee of just RM1 a month, you can get 10% discount off 20 GrabFood orders for you and your office buddies.

The GrabFood Corporate Subscription plan offers 10% off your food order, but there is a minimum spend requirement of RM80 per order and the discount is only valid on weekdays. Therefore, it’s clear that this plan would most benefit those who often make large food orders on behalf of their office colleagues.

When you purchase the subscription plan, you will instantly receive a set of 20 vouchers in your “My Rewards” page. Each voucher is valid for 30 days after the purchase date. To use a voucher, click on the unique code given in the reward to copy it, and paste it under “Promo Code” when checking out your order on GrabFood.

The max order size is capped at RM300 per order and you can’t use the Corporate Subscription vouchers in conjunction with other promotions or offers. Grab also states that each unique GrabFood code under this subscription plan can only be used on one account and should not be shared between multiple users.

GrabFood Corporate Subscription is valid on GrabFood orders in Klang Valley, Melaka, Penang, Johor Bahru, Kuching, and Kota Kinabalu. However, as we’ve stated above, the plan is currently only available to Grab users who have set up their Grab Business profiles.

5

1

vote

Article Rating

SHARE

TAGS:

Grab

GrabFood

Subscriptions

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


Boost Merdeka Campaign Offers Bonus Of 31x Boost Coins With Minimum RM50 Transaction

Boost users are in for an exclusive treat on the upcoming Independence Day as they will be able to earn a bonus of 31x Boost Coins when they spend a minimum of RM50 in a single transaction via the e-wallet. Valid only on 31 August 2021 (between 12am to 11.59pm), the Shop Malaysia Online – Merdeka 31x Boost Coins Campaign is open to all Boost users.

Specifically, the RM50 transaction has to be carried out with selected Boost online partners, such as Pizza Hut, KFC, Happy Fresh, Decathlon, and Big Pharmacy. Here’s a
full list of the vendors
 that you can visit in order to tap into this campaign. Upon meeting the minimum spend requirement in a successful transaction, you’ll then be entitled to receive 31x Boost Coins based on the number of Coins that you obtain from your Shake Rewards.

Your reward will be credited immediately into your account, and will be reflected in your Boost Coins History in the e-wallet. Note as well that each user is only allowed to receive this reward once throughout the whole campaign period, capped at a maximum of 8,000 Boost Coins. Additionally, the bonus Boost Coin rewards are provided on a first-come first-served basis, and are limited only to 5,000 transactions – so do be quick!

Finally, make sure to utilise these Coins by 30 September 2021 as they will expire then and be automatically forfeited.

(Source:
Boost
)

0

0

votes

Article Rating

SHARE

TAGS:

Boost

Boost Coins

Merdeka

Merdeka Day

Promotional Campaigns

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


Tips to Milking Your Credit Cards for Every Last Reward

We talk a lot about credit cards here on RinggitPlus and for good reason. They’re an easy way to build good credit history, a handy way to keep track of our monthly expenses, and plenty of them offer great rewards.

That being said, there may be times when we haven’t really exploited all we can from what these cards offer us. Here are some tips and tricks to squeezing out every bit of rewards from your credit cards.

Pick a Credit Card That Fits Your Lifestyle

Just because some cards offer great rewards, doesn’t mean your spending habits will get those rewards to you. So when choosing a credit card, be sure that what the card rewards you for things you’re already doing. It doesn’t make sense to get a travel-rewards card when you don’t even have a passport now, does it?

Pay Attention to the Annual Fee

If you can, it’s always best to pick a card that has no annual fee in the first place. However, even if you already have an annual fee attached to your credit card, try calling the bank to see if you can get it reversed. Certain banks may waive the annual fee if they deem that you swipe enough on the card already (subject to various bank policies and approvals).

Check Your Card’s Hidden Perks

We’ve covered the importance of lesser-known credit card perks before, but it’s worth repeating. Things like purchase protection, complimentary insurance, and the like might be benefits that your card already covers so take advantage of these whenever possible.

Get Apps to Help You Find Credit Card Deals

Mobile apps like CIMB Deals or the Maybank2U app let you search around for merchants that offer additional reward points, cash back, discounts or goodies when you swipe your card. These come in super handy to optimise your rewards earnings.

Switch Out Your Cards for Different Rewards

Since different cards offer different rewards, rotating your cards to use for different purposes helps to maximise your benefits even more. Have a petrol card for refueling, one for groceries, etc.

Don’t Forget To Use Your Rewards and Points

Some rewards expire, so don’t sit on them too long and check up regularly to know if there are any free privileges of discounts you’re missing out on.

Streamline Your Rewards

Certain credit cards allow you to choose the kinds of rewards you get, whether it’s air miles, points, or cash back. Call up and check to see if they have this on your card, and if they do, adjust it such that the rewards you get will be the type you’ll reap the most benefits from.

Great rewards from credit cards mean nothing if you can’t exploit them to their absolute maximum, and we hope our tips can help. If you want to check out which credit cards offer the best rewards, click over to
our comparison tool
 and see for yourself!

Do you have your own credit card rewards-maximising tips? Share them with us in the comments section down below!

0

0

votes

Article Rating

SHARE

TAGS:

CIMB Deals

Financial Advice

Financial Behaviour

Maybank2U

Personal Finance

Rewards Points

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


Are You Getting Paid Less Than You Should at Work?

Have you ever been at work and thought to yourself, “Man, I don’t get paid enough to do this..” Well we’re here to tell you that you might very well be right in thinking that. How do you know if the kind of work you’re doing is being fairly compensated for? Here are some steps to take if you want to find out.

Start With Some Quick Research

One easy way to find out is to look online for job ads that match the qualifications and work description of what you’re already doing. Check out how much pay these positions offer and compare it to yours. You can use either
Indeed
,
PayScale
,
LinkedIn
 or any other job search site that displays the salary to prospective candidates.

Another way to do this is to ask around your social circle and see if anyone is open enough to share their salary details with you. Of course, since money might be a sore subject to some people here in Malaysia, we recommend starting with the online resources we suggested above and only start discussing this with friends or family if you discover some findings that may be of use to them also.

When doing your research, make sure you’re not just making comparisons based on pure starting salary. You should also be especially aware of:

Location of Work

Since it’s more expensive to live in some places and
cheaper to live in others
, it makes sense that wages for some areas are higher or lower than others. So in order to be sure you’re accounting for this potential discrepancy, remember to only compare salaries for jobs that are offered around the same area your current job is. Pay special attention to similar jobs to yours
that require frequent travelling
, as that would definitely affect how much that job pays.

Years of Experience

More experienced people will get paid more even if the work description looks to be about the same. There are plenty of little invisible soft skills and know-how that can only be gained through experience and the value of that experience translates directly to Ringgit.

Benefits and Perks

Employers don’t just compensate employees for their time and effort, they also make sure they can do their job comfortably and effectively. This means providing things like medical coverage, job-specific insurance, special loans, discounts, or even a company vehicle. Be sure to find out
what kind of benefits
 your other industry peers are getting and see if they’re comparable to yours or complement what they’re earning in salary.

Now that you’ve factored those in, you should be able to fully assess whether or not you’re being paid fairly for the work you do, where you do it, and how much experience you have on the job. You should now know whether or not you’re making as much as you should.

What to Do if You Find Out You’re Paid Below Market?

First things first, decide whether or not this is a bad thing. Remember, making more money doesn’t necessarily solve all your money problems. If you have a healthy cash flow with enough for savings and investments plus a
comfortable emergency fund
, then there’s hardly a need to insist on a higher salary right away. Why think like this?

Because depending on your work environment and level of seniority, asking for a higher salary might be at best awkward and confrontational, and at worst, potentially harmful for your job security. So it might be best to think hard about how much this big discussion with your superior is worth to you.

Examine how there may be other
extra little things about your current job
 that makes it worthwhile to have your current salary. Perhaps you’ve made lifelong friends and mentors, maybe the commute is relaxed and forgiving, maybe your hours are super flexible or the company’s vision is something you truly believe in. It’s also possible that the company is in transition and is angling towards eventual salary increments to match the job market in the future. In these cases how much you earn as far as benefits and salary might be already just right for where you are.

However
, if you’re already not happy with your current job and you just found out that you’re being paid much less than you should, there are a few things you can do. You can now use this new information as leverage to push for an increment in your salary or for other perks you feel can help you perform better or be more satisfied with your work. Your HR department definitely knows the job market better than you and if you’re a valued member of your company’s workforce, you should be able to
use this bargaining chip to full advantage
.

You can also use this new information to better evaluate how much you yourself are worth to another company that’s more able to compensate you appropriately. If the difference between your pay and the standard pay of your peers is large enough, we recommend you
jump ship as soon as you can
.

Of course, sending in your two weeks’ notice means you’re going to end up jobless at least a while before you land a new job that pays more fairly. While you’re in between work, you should have a solid cash reserve in the form of savings to live off of. Check out
our comparisons page
 to find the best savings account in Malaysia to keep your emergency fund in. Good luck out there!

0

0

votes

Article Rating

SHARE

TAGS:

Increment

Jobs

Salary

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


Report: Almost 600 Bank Branches In Malaysia Expected To Close By 2030

(Image: The Malaysian Reserve)

Strategy consulting firm Roland Berger has predicted that about 567 retail bank branches in Malaysia will close down within the decade, bringing the number from 2,467 branches in 2020 to 1,900 branches in 2030. Revealed in a report titled “Branching Out: The Future of Retail Banking Networks – A Global Perspective With A Focus On Southeast Asia”, this decline amounts to a drop of 23%.

According to the report, the move away from branch-based services is driven by several factors, including technological advancements, digitalisation and ease of access to information, changes in demographics, as well as greater financial literacy. As such, banks will need to rethink the strategies that are to be adopted by their branch networks.

“They [the banks] need to address the upcoming challenges of the decline of the branch role sooner rather than later, preparing for a redesigned, repurposed, and reduced network. Failing to do so will profoundly impact retail banks’ profitability, leaving oversized branch networks underutilised,” said Philippe Chassat, who is a co-author of the report and a senior partner at Roland Berger.

That said, Chassat reassured that bank branches will not completely disappear from the Malaysian banking landscape by 2030, despite the growth in digital channels and upcoming digital-only banks in the market. Instead, they will continue to co-exist with the other digital channels.

(Image: The Star)

“Branch networks are in need of a significant transformation and resizing, but they are still a distinctive asset that traditional banks own over pure digital banking players. Despite the great strides made in consumer adoption of digital banking in the past decade, very few, if any, of the purely digital banks around the world have managed to successfully take on traditional banks. The road to a complete digital banking environment without branches in Malaysia goes well beyond 2030,” Chassat explained.

Chassat also went on to clarify that the role of bank branches will likely evolve over the next decade to focus on handling a more specific set of advisory activities and high-value-added products, including bancassurance, investment, or real estate financing. Other daily banking tasks and first-level customer services will be automated by leveraging on artificial intelligence and machine interface.

(Image: Amanz)

Aside from shedding light on the potential downsizing of banks in Malaysia, the report from Roland Berger also provided commentaries on the retail banking landscape in several other Southeast Asian countries. Overall, it said that there will be an 18% net reduction of retail bank branches across Southeast Asia by 2030, totalling to over 11,000 branches closing. The bulk of the closures is expected to happen in Indonesia, Thailand, and Philippines, alongside Malaysia.

Meanwhile, the number of bank branches is forecasted to steadily increase in Vietnam, Laos, Cambodia, and Myanmar as these countries have relatively underdeveloped banking sectors with low branch densities.

You can find out more about
Roland Berger’s “Branching Out: The Future of Retail Banking Networks – A Global Perspective With A Focus On Southeast Asia” report
 here.

(Source:
The Edge Markets
)

0

0

votes

Article Rating

SHARE

TAGS:

Bank Branches

Digital Banking

Digital Banks

Mobile Banking

Online Banking

Philippe Chassat

Roland Berger

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


Lazada: Malaysia’s Digital Economy Is Set For Greater Growth

(Image: Malay Mail)

E-commerce platform Lazada said that the Malaysian digital economy is headed for more growth as more brands and businesses, especially small and medium enterprises (SMEs), go online. The boost is also supported by shoppers who are growing more comfortable with purchasing their everyday needs online.

According to the chief executive of Lazada Malaysia, Leo Chow, the Covid-19 pandemic and the movement control order (MCO) have fast-tracked the digital adoption among consumers and retailers.

Chow quoted figures from Vodus, an online market and consumer insights platform, which indicated that half of the Malaysian adult population had gone online to shop for non-food products during the MCO. Of these people, 35% of them only began shopping online after the implementation of the MCO, which then translates to a 53% spike in the population of online shoppers.

(Image: Free Malaysia Today)

Meanwhile, Lazada’s own internal data that said the number of new sellers on its platform had grown by more than 200% during the first half of 2020. “It is also evident that merchants are responding to this behaviour by increasing their digital acceptance footprint,” said Chow, referring to consumers’ behaviour.

Chow further said that Malaysians are ready to accept technological advancements in payment solutions as they recognise the benefits of using digital payment solutions. He pointed out that digital payments are more convenient as shoppers and sellers no longer need to go through the hassle of handling physical money or visiting banks. It is also unhampered by physical distance, as well as more transparent, efficient, and cost-effective.

During emergencies that result in income shocks, such as during the current Covid-19 crisis, the speed with which digital payments are cleared also proves to be essential. Payments from abroad and financial aids from the government can be quickly disbursed to help with the people’s needs.

(Image: The Sun Daily)

Moreover, Chow said that digital payments offer more safety as Malaysians will be less susceptible to street crimes since they do not need to physically travel about to receive payments. Digital payments are also secured with cutting-edge technologies, including point-to-point encryption, tokenisation, biometrics, out-of-band authentication, and one-time passwords (OTP).

Chow also noted that consumers’ preference for digital payments is reflected in the Lazada Wallet’s increasing popularity. “During our recent 7.7 Mid-Year Super Sale, we saw close to a 40% increase in Lazada Wallet’s adoption rate year-on-year, and today, one in three Lazada Malaysia customers opt for Lazada Wallet for their transactions,” he said.
Lazada Wallet
 was launched in 2018, providing users with a better check-out experience and exclusive discounts.

Chow added that the government’s initiatives to build the nation’s digital infrastructure is set to spur Malaysia’s digital economy to greater heights, turning it into a digital economy powerhouse within the region.

(Source:
Bernama
)

4

1

vote

Article Rating

SHARE

TAGS:

Covid-19

Covid-19 Economy

Digital Economy

Digital Payments

E-Commerce

E-Commerce Platforms

Lazada

Lazada Wallet

Leo Chow

MCO

Mobile Payments

Movement Control Order

Vodus

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