TNG eWallet Now Sells Reload PINs With Higher Values Of Up To RM2,000

Touch ‘n Go (TNG) eWallet is now selling TNG reload PINs with higher values of up to RM2,000 on its official online store in Lazada. This comes following the e-wallet’s recent move in increasing the monthly top-up limit for TNG reload PINs from RM1,500 to RM8,000.

Prior to this, TNG reload PINs were only available in denominations of
RM10
,
RM50
,
RM100
, and
RM200
 on the TNG eWallet online store – with RM200 being the highest value sold. Now, the e-wallet service provider has also added reload PINs with the value of
RM500
,
RM1,000
,
RM1,500
, and finally,
RM2,000
.

On its product pages, TNG eWallet reminded that these reload PINs can only be used for payments to businesses, and not for transfer or cash-out purposes. This is because along with increasing the monthly top-up limit for reload PINs to RM8,000, TNG eWallet has also
re-classified reload PIN top-ups as non-transferable funds
, as opposed to its previous status of transferable funds.

To quickly explain, the money in your TNG eWallet can be classified as either
transferable or non-transferable funds
, depending on your reload source. Transferable funds – which can be used for payments and be transferred to bank accounts, friends, or the GO+ feature – come from non-credit card sources, such as debit cards and online banking. Non-transferable funds, meanwhile, can only be used for payments, and come from credit cards and reload PINs (as of yesterday, 27 July).

If you’re interested in purchasing these reload PINs with higher values, head on over
TNG eWallet’s official store on Lazada
, where you can find the items under its “Products” page. Do note that these vouchers – including the reload PINs with lower values – are all only available for purchase on the Lazada app, so if you’re viewing these items on the Lazada website, you’ll be asked to fire up your app instead.

Finally, for those who are unfamiliar with the reload process after purchasing your TNG reload PINs, you can find them easily via your Lazada Wallet. Upon accessing your Lazada Wallet, tap on “Purchased Coupons”, the “View Coupons”. From there, you can copy the reload PIN number at the top right corner of the coupon (not the page) and key it into your TNG eWallet (“Reload” >> “eWallet Balance” >> “TNG eWallet Reload PIN” >> paste your code).

Alternatively, you can also tap on “Display QR code” when viewing your purchased reload PIN on Lazada, and find your unique code below the QR code. Copy that code and enter it into your TNG eWallet, then tap on “Reload Now” – and you’re done!

(Source:
TNG eWallet
)

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About THE AUTHOR

Alex Cheong Pui Yin

Alex Cheong Pui Yin

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

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Unique Malaysian Food You Must Try At Bazaar Ramadan

The Bazaar Ramadhan is a unique event that takes place only once a year, during the holy month of Ramadan. For Muslims, this is a great spot to buy everything they need for breaking fast at sunset. But Malaysians’ love for food means this is a universal affair, one that is always packed with people buying their murtabak, tepung pelita, roti john, ayam percik, and so much more.

But with so many options and so little stomach space, which food items should you look out for? Let’s take a look at some Bazaar Ramadhan staples to get, and which places have the best ones.

Murtabak

(Image: ExpatGo)

This is the only time you can get a murtabak at affordable prices. Murtabak is sold in abundance during Ramadhan, and there are usually many murtabak sellers in any given Bazaar Ramadhan. You usually can’t go wrong with a murtabak, which is packed with finely chopped marinated chicken or beef meat wrapped in thin (occasionally crispy) flour dough. The adventurous may try the Murtabak Maggi, which marries the instant noodles with the murtabak marinate.

Most people in the Klang Valley agree that one of the best murtabak you can find is Raja Murtabak in the Bazaar Ramadhan in Taman Tun Dr Ismail (TTDI), Kuala Lumpur. The stall, which has been operating in this bazaar for several years now, offers a large range of murtabak, including those with cheese and – gasp – extra meat marinates. Their murtabak may be slightly pricier, but worth it for many.

Nasi Briyani Johor

(Image: carinayeoh.com)

Another type of food usually only found in mamak shops, the nasi briyani sold at Bazaar Ramadhan is a sight to behold. Huge pots of spice-infused fragrant rice with equally large pots holding favourites like ayam masak merah and rendang are a sensorial treat. You can’t go wrong with choosing either dish to accompany the rice. The briyani gam version, where the meat is cooked together with the rice, is a drool-worthy option too.

Briyani Johor is slightly different from the Indian-style ones we usually see, with less starchy rice used. This means less of the “crash” we feel from the rich flavours from usual nasi briyani in mamak shops – and also means you can indulge in even more food!

Ayam percik

(Image: The Level)

You can barely find these outside of a Bazaar Ramadhan. The smoky scent goes a long way to enticing you to find the stalls that sell them. Generous slabs of chicken are skewered and grilled, glazed with juicy sweet and spicy sauce for a uniquely Malaysian taste. Some even pack some kuah kacang for you to dip the meat with.

Ayam percik are basically everywhere during Ramadhan, and you generally can’t go wrong whichever one you opt for. Whether it is the TTDI, Stadium Shah Alam, or even Bangsar bazaar, the ayam percik is a safe, solid choice.

Roti John

(Image: Says)

Originally a mix of local flavours toasted on baguettes, the Malaysian Roti John has evolved to the use of long, soft white bread. This actually makes sense, since the soft bread absorbs the meat mix a lot better, so you get a lot more meat per bite.

A lot of Roti John sellers try to maximise profits by spreading only a thin layer of the meat mix, so it pays to find the better ones. The Roti John stall in the Bangsar bazaar is a good example, and even offers them in a unique charcoal bun for a unique look.

Putu Piring

(Image: ExpatGo)

A teatime staple famous in Melaka, you’ll find these steamed rice flour cakes infused with gula Melaka in many Bazaar Ramadhan across the Klang Valley. They also work well as desserts after buka puasa, thanks to the mild sweet taste. The bite-sized portions also mean you’ll usually reach for seconds.

The key to a tasty putu piring lie in the amount of Gula Melaka in each cake. There shouldn’t be too little because they will end up tasting bland, but not too much either till it numbs the tongue. The Bazaar Ramadhan TTDI, again, plays host to one of the best putu piring in town: Putu Piring Zainab Gula Melaka. You usually won’t miss it – there’s always a line to buy from this stall since they are made fresh on the spot. They also sell out by around 6pm, so do make your way there a little earlier just in case.

Kuih pelita

(Image: Tepung Pelita Istimewa Paya Jaras)

A local favourite, this dessert is slowly becoming a Bazaar Ramadhan must-have in recent years. It is made up of a sweet pandan-flavoured base with a coconut milk infused rice flour top layer. The combination of a sweet base, the richness and slightly salty flavours from the coconut milk, and the fragrance of screwpine (pandan) leaves make this quite irresistible.

We might sound like a broken record, but the best tepung pelita (as mentioned by family and friends) seem to be found at the TTDI Bazaar Ramadhan. There are notable mentions for those sold in bazaars in Melawati and Shah Alam as well, so at least there are some choices.

Pisang Goreng Cheese

(Image: FriedChillies)

One of the more recent additions to the Bazaar Ramadhan staple, the origins of pisang goreng cheese is as much East Malaysia as it is “hipster” Malaysia. In Sabah and Sarawak, it isn’t hard to find pisang goreng sprinkled with chocolate rice or grated cheese, or even drizzled with condensed milk. The heat from the fritters melt the condiments, giving the dessert an extra sugar rush.

In the Klang Valley, there are pisang goreng cheese stalls located in a few Bazaar Ramadhan places, like TTDI and Bangsar. The stalls offer a wide range of banana fritter condiments, like grated cheese, chocolate rice, rainbow rice, grated chocolate, and even exotic choices like Oreo, Nutella, and salted caramel. That said, the prices for these fritters are a lot higher than normal pisang goreng sold elsewhere.

Something for everyone

(Image: HostelHunting)

Most of these foods are generally not available in one place – until Ramadan comes. If you need a primer for authentic Malaysian food, or simply just wish to whack them all at once, the Bazaar Ramadhan is the place to go.

What other food should you get from Bazaar Ramadhan? Share with us in the comments below!

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Pang Tun Yau

Pang Tun Yau

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

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Why Making More Money Won’t Solve Your Debt Problems

Let’s say you’re behind on some of your monthly commitments. You’re getting a couple of past due bills and you’re often short on cash. You may think that one way to get out of this situation is to just get paid more. Once you’re making more money, you can deal with these problems easier, right?

That may not always be the case. In fact, we think that making more money is definitely not the ideal way to solve all your debt problems.

If I Have More Money, Can’t I Pay Off All My Debts?

Yes you can. But if you don’t take stock of how you ended up having these debt problems in the first place, you’re bound to be in debt again, all the same.

We all have debt, no matter how much money we make. Since every working adult would need some sort of loan structure to buy a car or a house. But not all of us have trouble servicing our debt.

Imagine you’re making a cake and it comes out bad. What you need to do is fix the recipe, not add more ingredients. In fact, adding more ingredients might make the problem worse.

To fix heavy debt problems, we shouldn’t yet look at how much money we
have
. But how we’re
using
 that money. In other words, it’s not a problem of cash deficiency, but a problem of cash flow.

So How Do I Fix My Cash Flow?

Money, like any other resource, requires careful managing to use properly. And when managing resources, here are the most common pitfalls:

You Spend More Than You Make

If you buy a lot of things on credit, and pay only the minimum amount a little too often, then this is the fastest way you’re mismanaging your money. One too many purchases via instalment plans can also contribute to this less than healthy habit.

How do you fix this?
 Stick to only spending half of what you make or even 40% and see if you still have trouble paying down your debts. The hard part about doing this is realising that just because you make a certain amount per month doesn’t mean you can afford to spend it all. Especially if you don’t have an
emergency fund
.

You Don’t Prioritise Your Spending Well

Choosing how much of your money should go to what expense can be tricky. And failing to do this well is what leaves us with not enough to pay off our debts sometimes.

How do you fix this?
 Be sure to pay off your debts first before spending on anything else. Focus on debts with the highest interest rates and work your way down. Typically these would be your credit card debts.

You Don’t Keep Track Of Your Spending

Another easy way to slip up with your finances is to not keep track of it well. If you can’t quite be sure whether or not you’ve paid for something or how much you’ve already spent, then chances are good you’re going to miss some important payment deadlines too.

How do you fix this?
 Do a weekly check on your expenses and see how much of your money goes where. Noticing how much you have left week by week means you can better manage how much you will be spending and how much you need to save.

I Don’t Have Any of These Problems But I’m Still in Debt. What Happened?

If you’re really being honest with yourself with the previous points and see that you’re still in debt, it’s most likely because of an incident outside of your control, like a family tragedy, some error made in calculation, or any other third party causes.

While you may be well protected from these incidents if you
insure your credit card debt
 or just get insured in general against these possibilities, that’s not an option if you’re already in a financial hole.

In this case what’s best for you is to consult
AKPK
, a free government-linked body that will help you manage your debt and ensure you can settle your outstanding commitments. In these cases, having a sudden windfall of cash would definitely help.

So It’s
Good
 That I Make More Money!

Of course it is! If you see an opportunity to earn more than you’re earning currently, go ahead and take it. However, don’t assume that simply making more cash can somehow fix the debt problems you have. Having more flour, eggs, and sugar is great but you need to know how to use them in the best way.

If everyone who makes a lot of money can fix their debt problems, there wouldn’t be any wealthy people who are in financial trouble. Yet we all know
that’s not true
. Plenty of people who make more than most are dealing with their own money problems that are just larger versions of our average cash troubles.

Because the difference between people who handle their money well and those who don’t is not how much money they make, but how smart they are with their money.

Another way to not fall into heavy debt of the credit card kind, is to have your credit card debt insured. For a selection of credit cards with this feature, you can check out our
comparison page
 to find the best ones on offer in Malaysia.

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Ahmad Mudhakkir

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Win an iPad When You Bank Online With Al-Rajhi

Al-Rajhi bank is holding a campaign to get more people to embrace online banking. From 1 March till 31 May 2013 Al-Rajhi account holders who perform any online transactions will qualify for a chance to win a RM500 monthly prize and an iPad mini grand prize.

Online transaction services include:

Interbank Giro

Bill payments

Mobile credit top-ups

Cheque management

No registration is required to qualify for this promotion. Each successful online transaction counts as one entry. There is no limit to the amount of participation each account holder is allowed for this promotion.

Five winners will be selected randomly each month to receive the RM500 WAFII prize. At the end of the promotion period five will be selected from the 15 monthly winners to receive the iPad mini grand prize. The method of selection will be at the sole discretion of Al-Rajhi bank. Winners will be announced on the Al-Rajhi bank website or notified via phone or email.

Please read the
Terms & Conditions
 page for further details.

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Brendon Lee

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Historical EPF Dividend Rates

The Employees Provident Fund is a sovereign pension fund which provides retirement incentives for members through managing their savings. With a total of 15.72 million members (as of December 2022), the EPF invests members’ collective contributions in approved financial instruments for more favourable returns. By law, the EPF is required to provide a guaranteed dividend of at least 2.5% a year, but has consistently managed to deliver significantly higher rates since 1960. But how has the EPF dividend rates changed in the last decade?

By investing in a mix of equities (both locally and internationally), loans, and bonds, the EPF’s sizeable portfolio is managed prudently, allowing it to offer dividend rates above 5% each year for its members since 2009. Even during the 2008 global financial crisis, the EPF still managed a respectable 4.5% dividend.

During the last decade, the highest dividend rate offered by the EPF was in 2017 (6.9%), followed by 2014 at 6.75%. In both years, EPF stated that the favourable market conditions meant that the EPF’s investments were better than expected.

However, market uncertainties always play a factor in the EPF’s dividend rate. For example, 2016 saw the EPF face tough investment changes due to unsettling events that included Brexit, the US Presidential elections, slower global growth in major economies, a slump in crude oil prices, and a weaker domestic currency.

On 8 August 2016, Syariah savings was introduced to provide members with options to have their account managed and invested according to syariah principles. This doesn’t come as a surprise, given Malaysia’s growing influence in global Islamic finance. As such, members who opt for syariah savings would receive dividend payouts based on the syariah-compliant portfolio managed by the EPF.

Fo
r
 2022
, the EPF dividend rate was 5.35% for conventional savings and 4.75% for shariah savings – a slight dip from the previous year’s EPF dividend performance of 6.10% (conventional) and 5.65% (shariah). Accordingly, the payout will involve RM45.44 billion (conventional) and RM5.70 billion (shariah), coming up to a total of RM51.14 billion.

The EPF pointed out that 2022 saw the world going through a persistent global market downturn, with major global equity benchmark indices experiencing their worst annual performance since 2008, plunging between 20% to over 30% during the year. However, the provident fund’s investment portfolio showcased resilience and was minimally impacted. This was attributed primarily to its overarching strategy that emphasises long-term sustainability of investments and returns, in line with the EPF’s Strategic Asset Allocation (SAA).

The EPF’s diversification strategy across different sectors and geographies has also been effective in helping it to capitalise on profit opportunities and generate income. As of December 2022, foreign investment made up about 36% of the EPF’s investment assets, and contributed 45% of its total gross investment income.

The EPF further noted that of its 15.72 million member base, a total of 8.39 million were categorised as active members as of December 2022. This surpassed the growth trajectory recorded before Covid-19, allowing the EPF to record an improved active-to-inactive member ratio of 53% to 47%, respectively. The provident fund admits, however, that more needs to be done, and as such, will ramp up efforts to increase the coverage of the national labour force to more than 60%.

How EPF Dividends Are Calculated

For any given year, the final dividend rate proposed by the EPF management would first need the Minister of Finance’s approval, before the proposal is sent to the EPF Board. Should the Board agree to the rate, the declaration of the EPF dividend rate for the year can be finalised.

In general, the final dividend rate follows the following formula as stated on the EPF website:

Dividend Rate = Net income (a) x 1% Total for a 1% dividend (b), where

(a) Net income: Investment income + Non-investment income – Expenses

(b) Total for a 1% dividend is based on:

– Opening balance of contribution (after withdrawal) that obtain dividend for a 12-month period, and

– Monthly contribution that obtain pro-rated dividend i.e. dividend for the n-month will get (12-n) month dividend. For example, the September contribution (n=9) will obtain a 3 months dividend.

Under Section 27 of the EPF Act 1991, the guaranteed minimum dividend rate is 2.5% per year on members’ savings. As such, members are guaranteed to receive the minimum dividend rate in any situation.

Is EPF Enough For Retirement?

There is a growing concern among Malaysians that an individual’s EPF savings may not be enough to last through their retirement. There are a variety of factors behind this, such as the ability to withdraw EPF savings for certain big ticket expenses, low EPF investment returns, and the poor spending habits of those who withdraw their funds when they reach the eligible age.

Nevertheless, the EPF remains a crucial product to help Malaysians save for retirement – but one that Malaysians should not solely rely on. Other financial products like Private Retirement Schemes (PRS), unit trusts, and even investment-linked life insurance policies all help build retirement savings with potentially better returns compared to conventional savings via fixed deposits or even basic savings accounts.

But, all of this depends on cultivating a savings habit early on and let the power of compounding interest help along the way.

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Simple Exercises to Teach Your Kids About Financial Responsibility

The school holidays has recently started, which means plenty of free time for your kids. During this free time, you can choose to send them to cheap, offbeat yet educational spots, or bring them out on holiday with you. Alternatively, you can use this extended time at home to teach your children about financial responsibility with some simple household exercises.

The Balance Sheet Exercise

Being responsible with money requires taking stock of expenses and managing them well. You can introduce your child to that first concept by inviting them to draw up a balance sheet of their income and expenses. It can be a simple list of items they’ve bought with their allowance money and any cash they’ve received either from you or family members.

From here, you can make suggestions for how much you think they should save to afford that toy they want, what kind of expenses you think they’re spending too much on, or just for them to understand their own finances a little better.

The Budgeting Exercise

If your child is not the journaling type, you can try this exercise out. Give them an amount of money that’s larger than their usual allowance and bring them shopping with you. Let them buy whatever they want with the money you’ve given them and see what they come up with at the end of the day.

Afterwards, you take stock of how they used their money and ask them questions on their purchases. Justifying purchases is one way to not only let your child think about how they spend their money, but also allows you to get closer to your child by learning what they value and how.

The Banking Basics Exercise

If your child is not familiar yet with a bank and all its services you can arrange an educational visit to the local bank to learn about all its many functions. With our articles that explain the basics of financial dealings combined with the practical learnings of physically being in a bank, your child can have a well-rounded introduction to the real-world services and importance of banking institutions. You can also help them open up a junior savings account if they don’t already have one.

The school holidays need not be a time where listless kids are wasting their hours on video games and entertainment. Nor is it only a time to study up on their academics. You can also use this time to teach kids important life lessons like financial responsiblity. We hope you can use these tips to empower your child and help your family grow to make smarter, better decisions when it comes to money.

You can check out our
savings account comparison tool
 as well to find the
best junior savings account
 to fit your child’s needs. Do you have anything else to contribute to this article? Do share your thoughts with us in the comments section down below!

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Fitch Solutions: Middle-Class Households Will See Temporary Drop In Income Levels

(Image: The Sun Daily)

Fitch Solutions Country Risk & Industry Research has predicted that middle-class households will face a temporary disproportionate drop in their income levels due to the Covid-19 pandemic.

Based on official data, the Fitch Group unit estimated that 210,000 households from the upper-middle income category will fall into a lower income range due to the economic impact caused by the pandemic and the movement control order (MCO). The upper-middle income category is defined by the unit as those with disposable incomes of between US$25,000 to US$50,000 (approximately RM106,350 to RM212,700).

Fitch Solutions also projected that the average disposable income for Malaysian households will shrink by 8%, from RM102,460 in 2019 to RM94,053 in 2020. This is based on Fitch Solution’s own prior prediction that Malaysia’s economy will see a 2.8% contraction from 2019, as well as an expected increase in unemployment.

(Image: Focus Malaysia)

“The average Malaysian household will be squeezed by Covid-19 related lockdown measures, as well as the resultant economic crisis,” said the research house.

That said, Fitch Solutions also foresees a strong and rapid recovery for Malaysia in 2021, buoyed by the government’s stimulus packages to alleviate the economic slowdown caused by the MCO. It expects the Malaysian economy to expand by 5.7% next year, and for unemployment issues caused by the MCO to be fully resolved by 2022.

“Because of the before mentioned indicators, we foresee disposable incomes recovering to similar, pre-Covid-19 levels from 2021 onwards,” said Fitch Solutions.

(Image: Hari Anggara/Malay Mail)

The government had enforced the MCO in mid-March to combat the spread of the Covid-19 pandemic, and it was subsequently followed by the conditional MCO (CMCO) and the recovery MCO (RMCO). At present, the country is undergoing the RMCO, which is slated to end on 31 August 2020.

While the restrictions have helped with containing the pandemic within the country, it also brought various industries and businesses to a halt. Since then, the government has introduced several stimulus packages to provide financial relief to the people and to restart the country’s economy, namely the
Economic Stimulus Package 2020
,
Prihatin Economic Stimulus Package
, and the
PENJANA Economic Recovery Plan
.

(Source:
Malay Mail
)

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Alex Cheong Pui Yin

Alex Cheong Pui Yin

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

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How Do Institutions Benefit From Giving Out Scholarships?

When looked at from a pure business standpoint, giving out scholarships doesn’t quite make sense. The amount is usually in the hundreds of thousands and the nature of a scholarship is such that the recipient never has to pay it back. This benefits the student greatly of course, but how does it benefit the party giving out the scholarship? As it turns out, there are several beneficial reasons an institute or company might give out scholarships to struggling scholars.

Marketing

Since scholarships are essentially study grants given out with no obligation of repayment, the news of a new one being given out travels fast. In fact, it’s quite rare for a scholarship to be promoted or advertised. Even if you’re no longer interested in continuing your studies, chances are good that you would promote the news of a scholarship being given out to your friends who
are
 still studying. This free word of mouth publicity for the institute, company, or university acts as free marketing. It spreads the news of the brand around in a good way.

Attract and Retain Loyal Employees

It’s typical of some companies to offer bonded scholarships, or study grants where the student will have to later be attached to the firm somehow. Usually by working for the company. Companies also sometimes offer special employee benefit programmes which only serve recipients of their scholarship to further sweeten the deal. Nothing fosters loyalty like giving out scholarships and benefits to people already predisposed to contribute to your area of industry.

Corporate Social Responsibility

Since scholarships are functionally similar to donations, giving these out will increase goodwill and improve other people’s perception of the brand. This of course leads directly to other people willing to work with the brand more. Aside from brand perception, we can’t discount the genuine good feelings that come out of helping members of the community get educated and being a force for good in the world, even if it has zero effect on profits.

Dedication to the Area of Industry

Some firms live or die by being on the cutting edge of the industry. So it’s beneficial for them that the best minds and talent are put to work in the industry they’re in. To that end, offering scholarships that filter for the highly-skilled and talented will help build up their industry. A shoe company may offer scholarships to sports science students who are heavily interested in athletics, fabrics, physics and fashion so they can keep working in the field and produce better tech or innovation that the company can then benefit directly from.

In short, scholarships don’t just benefit the students, they benefit the givers as well. If you’re a student looking for scholarships to help fund your continuing studies, we recommend a visit to the Malaysia’s Scholarships Fair 2017 happening this 22nd of April. Register for the fair at
www.scholarships2u.com/fair
. Scholarships2u.com is a one-stop gateway for scholarships worldwide.

This year, they have world-class institutions from Australia, Dubai, Grenada, Switzerland, Spain, the United States, and the United Kingdom in addition to our local universities. You can visit them and find out for yourselves how you can benefit from each other. Do you have anything to add to this article? Do share your thoughts and ideas with us in the comments section down below!

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How Do You Get An American Express® Credit Card In Malaysia?

Owning a credit card can bring many benefits to your day-to-day life. Among the reasons to apply for a credit card include increased buying power, cashbacks, or earning rewards. Whether you’re looking to make a big future purchase, or even just looking to improve your credit score, a credit card can help you improve your financial flexibility.

With so many credit cards out there, it’s vital that you choose a credit card with benefits that align with your lifestyle. Maybank’s American Express Credit Cards offer a multitude of different benefits that can be enjoyed both locally and internationally. The American Express card is an internationally recognised card and is widely accepted by merchants from F&B, retail, e-commerce, petrol stations, and others worldwide.

A Variety Of American Express® Cards You Can Choose From

Whether you want to collect reward points and air miles or save money via cashback, the Maybank American Express credit cards can cater to your unique needs and lifestyles. Currently, Maybank offers a total of 9 American Express cards offering all kinds of premier benefits.

So you’re interested in owning an American Express credit card and don’t know where to start? You can consider the Maybank 2 Gold Cards, American Express Cash Back Gold Card, or American Express Gold Credit Card as good entry-level options. Both the Maybank 2 Gold Cards and American Express Cash Back Gold Card offer attractive cashback rates with Maybank 2 Gold Cards offering a 5% weekend cashback, and American Express Cash Back Gold Card offering up to 1.5% unlimited cashback for all retail spend with no minimum spending and no cashback cap.

Fans of online shopping can also consider the Maybank Islamic Ikhwan American Express Platinum Credit Card-i, as this card comes with 8% cashback for online purchases.

Looking for peace of mind when travelling? The Maybank 2 Platinum American Express Cards and American Express Platinum Card come with complimentary travel insurance worth up to RM700,000 a year. You’ll be able to cover various travel inconveniences including delayed or missed flights and lost luggage.

For those looking to fully reap the benefits of international travel, Maybank also offers Singapore Airlines Krisflyer American Express Gold and Singapore Airlines Krisflyer American Express Platinum cards. In fact, you’ll be able to earn 3,000 and 7,000 Krisflyer points respectively before swiping your card for the first time.

A truly premium experience comes in the form of Maybank 2 Cards Premier American Express Cards. Not only will you get up to RM1 million in travel insurance, but you’ll also be privy to Premier Lifestyle Program privileges which include up to 50% discount on dining and F&B at participating restaurants in Shangri-La Kuala Lumpur, a 40% discount on dining at participating Marriott Bonvoy Hotels & Resorts in Malaysia, and complimentary green fees at selected golf clubs around the world.

On top of all these benefits, you’ll be able to earn Maybank Treats Points and use them to redeem rewards including vouchers, electronics, and even air miles!

Shop With American Express® At A Wide Range Of Merchants

A growing number of merchants in Malaysia graciously accept American Express Card payments, including some of your favourite online platforms such as Lazada and Shopee. From restaurants, and retailers to supermarkets, these are the places where you can swipe your American Express Card in Malaysia:

Retail stores:

Sembonia, Christy Ng, Bath & Body Works, Victoria’s Secret, Sephora, The Body Shop, Sasa, Lululemon, Xixili, 6ixtyEight, La Senza, Melissa, H&M, Cotton On, Uniqlo, Aldo, Zara, Bata, Decathlon, Puma, Running Lab, Muji, JD Sports, Charles & Keith, Pedro, Giordano

Groceries/Pharmacies/Convenience stores
:

Aeon, Aeon Big, Ben’s Independent Grocer, Cold Storage, Giant, Mercato, Jaya Grocer, Lulu Hypermarket, Mydin, Lotus, Village Grocer, NSK Trade City, Qra, Billion Hypermarket, Isetan, Nirwana Hypermarket, TF Valuemart, Urban Fresh

F&B outlets
:

McDonald’s, KFC, Pizza Hut, Dominos, Carl’s Jr, Texas Chicken, A&W, 4 Fingers, Auntie Anne’s, Kopi Kenangan, Starbucks, Gigi Coffee, Dome, Tony Roma’s, TGIFridays, Chilis, Boat Noodles, Nando’s, O’Briens, Serai, Baskin Robbins, Haagen Dasz, Manhattan Fish Market, Tealive, Secret Recipe, Sushi Jiro, Rakuzen, Sushi Zanmai, Sushi Tei, Old Town White Coffee, Coliseum, The Brew House, Putien, KyoChon

E-Commerce sites
:

Grab, Zalora, Prestomall, McDonald’s, Dominos, O’Briens, IKEA, Lelong.com, Lazada, Fave, Mydin, E S H, Traveloka, GSC, TGV, Lush, Louis Vuitton, Seng Heng, MPH, Van Clef & Artels, Shopee, Sunway Lagoon, Legoland Malaysia, Uniqlo, Lost World of Tambun

Petrol
:

Petron, Petronas, Shell, Caltex

Pharmacies:

Guardian, Big Pharmacy, Aeon Wellness, Caring Pharmacy, Alpro,  HTM Pharmacy, Georgetown Pharmacy, Jom Pharmacy, Alpha Pharmacy, Healthlane Pharmacy, Farmasi

Electronics:

Machines, Switch, I Store, Dyson, Harvey Norman,  Mi Store, All IT, Seng Heng, Sony, Best Denki, TMT Megastore, TBM,  Samsung, E S H, Nespresso

Convenience Stores:

WH Smith, 99 Speedmart, Family Mart, MyNews, Don Don Donki

Airlines
:

Malaysia Airlines, Air Asia, Batik Air, Firefly

Attractions
:

Petrosains/The Discovery Center, Sunway Lagoon, Genting Skyword, Legoland Malaysia, Gamuda Cove, I-City Themepark

More good news – Maybank credit cards are compatible with Apple Pay, which means you’ll be able to add your American Express credit cards to your Apple Wallet on your Apple devices, including iPhone, Apple Watch, iPad and Mac. You’ll be able to make faster contactless payments wherever you go!

How To Sign Up For An American Express® Card?

With a variety of American Express credit cards to choose from, you can enjoy the numerous benefits these cards have to offer. For those who are interested in becoming part of American Express’s globally renowned cashless network, you can sign up
here
.

If you apply and spend with the Maybank KrisFlyer American Express® Platinum or Gold Credit Card, you can get up to 27,000 KrisFlyer miles. All you’ll need to do is apply and spend a minimum of RM2,888 within 60 days of the card approval date for your KrisFlyer Miles points, plus Bonus Miles. Learn more about it
here.

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Eloise Lau

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AEON Enables GrabPay As Cashless Payment Option

Leading retailer AEON Retail Malaysia has expanded its cashless payment methods to now include GrabPay, allowing its customers to also earn GrabRewards Points and enjoy other Grab benefits as they shop for groceries.

Prior to this update, AEON customers who wished to make cashless payments at the retail outlet are limited to only a number of options as AEON did not support payments from popular e-wallets in the market, including Touch ‘n Go eWallet, Boost, and GrabPay. Instead, it only accepted its own
AEON Wallet and AEON Pay
, which can be used at all AEON stores and its subsidiaries, along with participating merchants that accept AEON Pay.

Other more widely accepted cashless payment methods that AEON customers could also use include credit and debit cards, as well as selected QR code payments (such as via Maybank’s MAE by Maybank2u app). Outside of these options, you’ll have to use cash in order to pay for your purchases at AEON.

Although AEON is only just opening its doors to GrabPay, its sister company, AEON BiG, has actually already enabled GrabPay transactions for some time. In fact, AEON BiG is often featured in GrabPay deals, such as in this
Grab campaign back in June 2021
 – so this is actually a good follow-up on the part of AEON.

In conjunction with this latest development, AEON has partnered with GrabPay in a promo that provides customers with an instant rebate of RM8 when they spend a minimum of RM50 via the e-wallet at its stores. Ongoing until 31 December 2021, each customer is entitled to a maximum of four redemptions throughout the entire campaign, with one redemption per week. The offer is provided on a first-come first-served basis, capped at 62,500 redemptions.

(Source: AEON [
1
,
2
])

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Alex Cheong Pui Yin

Alex Cheong Pui Yin

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

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Netflix Offers Free Access To Selected Content For Non-Subscribers, Requires No Registration

Netflix is now offering free access to selected content for non-paying users, without requiring you to even register for an account. At present, it features an assortment of 10 movies and original series, including Stranger Things, Murder Mystery, and The Two Popes – although the selection may change from time to time.

Note, that although you will be able to watch the movies offered in full via this free access, you can only view the first episode of the first season for Netflix’s original series. Once the episode ends, you’ll be prompted to join Netflix to view the other episodes. Additionally, there are short ads at the beginning of the free content, although those can be skipped.

In its
support page
, Netflix further clarified that the free content is available only on its official website, which is accessible via browsers on a computer or Android device. It is not supported on Netflix’s mobile application or on iOS browsers.

According to a Netflix spokesperson, this perk came about as part of the streaming service’s attempt at exploring different marketing promotions to attract new members. Prior to this offer, non-paying users in Malaysia could opt for a 30-day free trial, which gives them access to all of Netflix’s content for free. However, they were also required register and provide their payment details for the free trial.

To find out more about the
free content from Netflix
, head on over to its website.

(Source:
TechCrunch
,
Lowyat.NET
)

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Alex Cheong Pui Yin

Alex Cheong Pui Yin

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

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RHB Partners With MPay To Offer QR Payments For Businesses

(Image: Fintech News Malaysia)

RHB Banking Group (RHB) has announced an affiliate partnership with ManagePay Services Sdn Bhd (MPay) to enable RHB DuitNow QR transactions on MPay’s payment terminals. This partnership allows RHB’s micro small and medium enterprises (mSMEs) and corporate customers to accept DuitNow QR payments via MPay’s payment terminals.

Leveraging on application programming interface (API) connectivity, this partnership enables all RHB DuitNow QR payments to be automatically captured and reconciled within the merchants’ payment system, including those made via MPay’s EFTPOS (Electronic Funds Transfer at Point Of Sale) payment terminals and Smart Android Terminals.

RHB’s head of group transaction banking, Chung Chee Kai said that the integration, in turn, offers a more convenient payment solution for businesses. “As a result, our business customers are able to focus more on managing their sales and achieving digital and online efficiency, in addition to being able to accept instant payments without changing their payment process,” he added.

Additionally, Chung said that payments via the RHB DuitNow QR or MPay’s payment terminals will also ease customers to make contactless payments.

RHB became the
first bank in Malaysia to integrate DuitNow QR
via API connectivity back in July 2021. This has allowed for real-time integration of DuitNow QR transactions with point of sale (POS) and mobile POS (MPOS) system terminals.

(Source:
RHB
)

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Nur Adilah Ramli

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Standard Chartered has got some great pub grub for you

It’s a Friday night, and you just want to go somewhere to chill with your friends after a long week.

You decide to head to TTDI, where the brightly coloured E42T Restaurant and Bar is always waiting for you with its tasty fare.

You proceed to enjoy your meal as well as share a few laughs there. At the end of it all, you pay the bill with your Standard Chartered credit card and
enjoy 20% off the food items on their ala-carte menu.

Not a bad way to spend the evening, is it?

Offer is valid until 31 December. For dine in only.

Image source: naomitham.blogspot.com

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HLB, Smart Reader's DuitSmart Kids Programme Makes History, Enters Malaysia Book Of Records

Hong Leong Bank (HLB), along with its partner Smart Reader Worldwide, has made history by officially entering the Malaysia Book of Records for the ‘Most Students Graduated From A Financial Literacy Programme’. This came following the graduation of 1,789 students from a flagship financial literacy programme, DuitSmart Kids, which was rolled out via a
partnership between HLB and Smart Reader Worldwide back in 2022
.

The
DuitSmart Kids programme
 was designed to focus on young children aged between four to seven, with 10 video-based lessons that teach them essential financial knowledge and money management skills. Throughout the programme – which was incorporated during school hours at all Smart Reader Kids centres nationwide – HLB served as the financial advisor to help cultivate and instil good financial habits.

Notably, the DuitSmart Kids is an expansion of the HLB DuitSmart platform, which was itself launched in 2019 as a flagship initiative to provide financial literacy and inclusion workshops to various segments of society. These included students from primary to tertiary levels, as well as underserved communities like single mothers, indigenous communities, and
the visually impaired
.

In a statement, Group Managing Director and Chief Executive Officer of HLB, Kevin Lam said that as a financial institution, the bank wanted to play an active role in promoting financial literacy ad inclusion, as well as provide tailor-made tools that help children on their education journey. “Through DuitSmart Kids and other programmes, we look forward to empowering the next generation with the knowledge and tools to build their own secure financial futures,” he said.

The Chief Executive Officer of Smart Reader Worldwide, Dato’ Sri Dr Richard Ong also echoed the sentiment. “Through the DuitSmart Kids programme, our students learn to appreciate and understand the value of money through four key concepts – earning, saving, spending, and sharing. With this, they learn to make more informed financial decisions, and are aware of certain pitfalls and risks that come with managing their finances,” he commented.

Aside from financial literacy and inclusion programmes, HLB noted that it had also rolled out various banking products to help customers practise good money management starting from an early age. As an example, there is the HLB 3-in-1 Junior Account for young savers and their parents to manage the child’s pocket money and savings in an engaging manner.

There is also the Earth Hero programme, which teaches children to not only manage their money appropriately, but also to be environmentally conscious. Most recently, HLB has even
refreshed its existing HLB Wallet
 to make it available to young users (aged 12 to 17).

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About THE AUTHOR

Alex Cheong Pui Yin

Alex Cheong Pui Yin

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

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ABM, AIBIM: Banks Ready To Aid Customers In CMCO And EMCO Areas

(Image: The Malaysian Reserve)

Banking customers in areas that are under conditional MCO (CMCO) or enhanced MCO (EMCO) can approach their banking institutions for ready assistance, said the Association of Banks in Malaysia (ABM) and the Association of Islamic Banking and Financial Institution of Islamic Banking and Financial Institutions Malaysia (AIBIM).

In a joint statement, the associations said that banks are ready to facilitate requests for repayment assistance to suit their customers’ financial circumstances. In particular, those who are affected and are facing difficulties in making loan/financing repayments should immediately reach out to their banks. Customers who are unable to arrange face-to-face engagements due to restriction of movement can contact their banks via email and telephone instead.

In addition to that, the associations also highlighted that banks in CMCO areas will be operating with heightened vigilance and adherence to the Covid-19 standard operating procedures. As such, customers in affected areas should check on their respective banks’ websites for updated information on changes in operating hours or arrangements for over-the-counter services.

“Borrowers/customers can also continue to perform banking services at all self-service terminals, such as automated teller machines (ATMs) and cash deposit machines (CDMs) located in the CMCO areas,” added the associations.

ABM and AIBIM’s joint statement came following senior minister Datuk Seri Ismail Sabri Yaakob’s announcement of the re-instatement of CMCO in selected areas. CMCO will be enforced from 13 to 26 October for Sabah, and from 14 to 27 October for Selangor, Kuala Lumpur, and Putrajaya. Meanwhile, targeted enhanced MCO (TEMCO) will be imposed on Felda Umas (Tawau) from 13 to 26 October.

For further information, the public can contact ABM via its
ABM Connect website
, or AIBIM at 03-20268002/8003 or
[email protected]
.

Meanwhile, banking customers who continue to face difficulties even after consulting with their banks can get in touch with Bank Negara Malaysia at 1-300-88-5465 or
[email protected]
. Alternatively, they can reach out to the Credit Counselling and Debt Management Agency (AKPK) at 03-26167766 to seek guidance and explore other options.

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Alex Cheong Pui Yin

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

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RHB Launches Tokyo 2020 Limited Edition RHB Visa Cash Back And Rewards Credit Cards

RHB has introduced two new limited-edition credit cards in conjunction with the upcoming 2020 Olympic Games in Tokyo: the Tokyo 2020 Limited Edition RHB Visa Cash Back Credit Card, and the Tokyo 2020 Limited Edition RHB Visa Rewards Credit Card.

Both card faces feature the Tokyo 2020 symbol, a wreath of Japan’s famous cherry blossoms, hovering above the Olympic’s trademark interlocking rings. The Tokyo 2020 Limited Edition RHB Visa Cash Back displays the friendly cartoon figure of Miraitowa, the official Tokyo 2020 Olympic Games mascot, featured against a wooden background. Meanwhile, the  Rewards card swings for a more striking aesthetic with a black backdrop and imposing ninja in the foreground.

These themed credit cards are essentially limited-edition versions of RHB’s existing RHB Cash Back Credit Card and RHB Rewards Credit Card, which together make up the
RHB Dual Credit Cards
. As such, the RHB Tokyo Limited Edition credit cards offer the same benefits as their original counterparts.

The Tokyo 2020 Limited Edition RHB Visa Cash Back Credit Card offers tiered cashback of up to RM10 per category for five categories: Online Dining & Grocery Delivery, Petrol, Dining, Utilities, and Groceries. Other retail spend garners 0.2% cashback with no cap. Depending on how much you spend in a month, you can get between 0.2% to 10% cashback for the selected cashback categories.

Monthly Total Spend

·
Online Dining & Grocery Delivery

·
Petrol

·
Dining

·
Utilities

·
Groceries

Other Retail Spend

RM1–RM999.99

0.2%

0.2%

0.2%

RM1,000–RM1,999.99

1%

1%

0.2%

RM2,000–RM2,499.99

2%

2%

0.2%

RM2,500 and above

10%

5%

0.2%

Meanwhile, the Tokyo 2020 Limited Edition RHB Visa Rewards Credit Card offers varying amounts of rewards points on cinema entertainment, overseas, online, health, insurance, shopping, and other spend.

Categories

Rewards Points

Cinema entertainment

10x

Overseas

4x

Online

3x

Health

2x

Insurance

2x

Shopping

2x

Others

1x

Both credit cards are available to those who earn a minimum income of RM24,000 per annum and there is an annual fee waiver for the first year. After the first year, the annual fee is RM70 for the Tokyo 2020 Limited Edition RHB Visa Cash Back Credit Card and RM200 for the Tokyo 2020 Limited Edition RHB Visa Rewards Credit Card, with a waiver if you spend RM10,000 in a year.

So, if you’re a sucker for collectibles and are thinking of getting a new credit card, consider adding these two limited-edition cards to your name. You can find out more about the
Tokyo 2020 Limited Edition RHB Visa Cash Back Credit Card
 and the
Tokyo 2020 Limited Edition RHB Visa Rewards Credit Card
 here.

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    KK

    2 years ago

is the Ninja Credit card stil available?

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iPay88 Reveals Cybersecurity Breach, May Have Compromised User Card Data

(Image: Salty News Network)

Online payment gateway iPay88 has revealed that it experienced a cybersecurity breach in May 2022, which in turn, may have caused customers’ card data to be compromised.

In a statement, iPay88 explained that it immediately initiated an investigation on 31 May 2022 after discovering the breach, with the assistance of cybersecurity experts. “The containment process was successfully completed, and no further suspicious activity has been detected since 20 July 2022. To ensure the continued safety of the card data, we have implemented various new measures and controls to strengthen the system’s security against any further incidents,” it further shared.

Additionally, the company said that the investigation is currently still ongoing, and that iPay88 has been working closely with the authorities and other relevant parties. It has also informed all financial institution partners regarding the matter, and promised to share more updates and detailed findings in due course as it continues to monitor the situation closely.

(Image: iPay88)

iPay88 did not offer any explanation as to why it only disclosed this breach two months after its occurrence. Regrettably, it also left out key information, such as how many customers and merchants may have been affected – which is worrying, given that iPay88 is one of Malaysia’s biggest payment gateway platforms.

To note, iPay88’s services are employed in the online banking services provided by most local banks. E-wallets, credit card payment service providers (such as Visa, Mastercard, American Express, and UnionPay), as well as foreign online payment services (such as PayPal and G Pay) also tap into iPay88’s expertise. Moreover, it provides point-of-sales solutions for many merchants across the country.

Naturally, we urge everyone to remain on alert, especially if you are aware that you have recently conducted transactions via iPay88’s payment gateway. In the event of any unauthorised transactions, do immediately reach out to your banks or other relevant authorities for further assistance.

(Sources:
iPay88
,
Lowyat.NET
)

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New HSBC Campaign Offers GrabFood Vouchers Just By Reloading Your GrabPay Wallet

HSBC is rewarding its credit cardholders with GrabFood vouchers when they top up their GrabPay e-wallet using their HSBC or HSBC Amanah credit cards from 16 August to 31 December 2021.

The promo is open to both new and existing Grab users who have their
HSBC
 or HSBC Amanah credit card details saved in their Grab app. Once you’ve done that, you can then go ahead and reload your e-wallet to earn your GrabFood voucher.

Through this promo, you can get up to two GrabFood vouchers per month. You can manually reload your GrabPay e-wallet with a minimum top-up of RM200 and be rewarded with an RM20 GrabFood voucher, and initiate an auto top-up with a minimum of RM100 to get an RM15 GrabFood voucher.

If you perform both top-ups, you will be entitled to a total of two GrabFood vouchers.

Method
Top-up amount
Reward
Maximum cap per month
Manual Top-Up
A minimum top-up of RM200
1x RM20 GrabFood voucher
2,350 redemptions
Auto Top-Up
A minimum top-up of RM100
1x RM15 GrabFood voucher
2,000 redemptions

As always, the offer is on a first-come first-served basis subject to the monthly redemption cap. If you do win, the vouchers will be automatically credited to your Grab account and will be valid for 60 days from issuance date.

You can find out more about HSBC’s RM20 GrabFood campaign
here.

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How You Can Buy Your Motor Insurance in Under 3 Minutes

Buying motor insurance can be a daunting and trying task; you can never anticipate how long you’ll have to spend queuing up in the post office, or how long your agent will take to deliver your brand new motor insurance policy.

Considering the wealth of technology we have in the current age, shouldn’t buying something as essential as motor insurance be as easy and fast as ordering food or movie tickets online?

The answer is yes. Yes, it should, and that is why online insurance providers such as
MyCover
 exists to help make buying motor insurance easier than taking a walk in the park. Its fast and hassle-free registration process allows you to purchase a motor insurance policy in less than 3 minutes!

What is MyCover?

It’s an online third-party insurance provider dedicated to help you buy and renew your motor insurance with as little effort as possible, from the moment you enter its website to the moment you finish making the purchase.

What Are The Benefits of MyCover?

Apart from its fuss-free registration process which enables you to buy a motor insurance policy in under 3 minutes, MyCover also offers
0% Easy Payment Plan (EPP)
 for payments that are more than RM1,000 if you pay using a credit card. So, instead of having to fork out a big sum at once, you can choose to spread your motor insurance policy payment over a period of either 6 months or 12 months as long as you’re using any one of the following credit cards:

● Maybank

● Citibank

● Hong Leong Bank

● Public Bank

● AmBank

● RHB

● Alliance Bank

What’s more, you can even
check your No Claim Discount (NCD)
 for free on
MyCover’s
 website. All you need to do is provide your NRIC number and vehicle registration number, and the website will tell you how much NCD you’re entitled to and how much savings you’re making for the year.

What Motor Insurance Coverage Do MyCover Offer?

MyCover offers
Comprehensive Motor Insurance (underwritten by Chubb Insurance Malaysia Berhad)
 to help protect you against monetary liabilities in the case of bodily injury, death, or damage on other pedestrians or motorists. It will also cover the costs of damages done to your own car in the case of an accident or fire.

If one day your car is missing from your parking spot, don’t worry. MyCover motor insurance covers the cost of your vehicle (the coverage amount is subject to your policy contract) in the event it is stolen.

But what if your car breaks down in the middle of the night and you have no idea what to do? First, breathe and calm down. Second, call
Chubb’s toll-free, 24-hour towing and roadside assistance hotline
 and they’ll come to your rescue. They’ll provide you with immediate assistance if it’s a case of a flat tire or if your battery needs to be jumpstarted.

If your car needs extensive assistance from a mechanic, they’ll help tow your car to the nearest panel workshop.

Can I Add Additional Coverage On MyCover Motor Insurance Policy?

Yes, you can add various additional coverage to your MyCover insurance policy to enhance its protection. Some of the available add-on covers include:

● Windscreen damage

● Vehicle accessories

● Personal Accident (PA)

● Special perils

● Strike, riot, and civil commotion

● Legal liabilities of passengers

● Legal liabilities to passengers

What’s more, MyCover motor insurance will
cover you and one other registered driver at no additional charge
! If you’d like to add a third or more drivers to your policy, you’ll only need to add an additional premium from as low as RM10 per person. Otherwise, if your vehicle gets into an accident and the driver is not insured under your insurance policy, you’ll need to fork out an excess of RM400 when submitting your claim.

Don’t Believe Us? Try It Yourself!

Of course, it’s hard to believe anything unless you try it yourself. Head to
MyCover’s website
 and try getting a quote today!

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Emirates Launches New Flights From Dubai To Penang Via Singapore

(Image: Emirates)

Emirates is launching a new daily flight from Dubai to Penang, with a stop in Singapore. The new service is slated to begin on 9 April 2020, opening a new Emirates route between Penang and Singapore as well as Penang and Dubai.

“Emirates’ flight to Penang will be a linked service with Singapore, allowing passengers to travel easily between the two cities while enjoying the airline’s award-winning service,” said the airline in a press release. The new route will also enable travellers from the northern part of Malaysia to conveniently journey to destinations in Europe, North America, and Middle East via Dubai.

The flights will be operated by an Emirates Boeing 777-300ER aircraft, which offers three cabin classes: eight private suites in First Class, 42 lie flat seats in Business Class, and 304 seats in Economy Class.

The timing of the flights will be as follows:

Flight No.

From/To

Departure Time

Arrival Time

EK348

Dubai – Singapore

0230

1405

Singapore – Penang

1535

1715

EK349

Penang – Singapore

2220

2350

Singapore – Dubai

0140

0455

Penang will be Emirates’ second destination in Malaysia, after having flown only to Kuala Lumpur since 1996.

(Image: Insider)

“Penang is a major centre for tourism, business travel, as well as medical tourism and the increased levels of inbound travel (are) consistent with the growth in numbers of visitors to the country,” said the chief commercial officer of Emirates, Adnan Kazim.

Emirates’ country manager for Singapore and Brunei, Rashid Al Ardha, further commented that the airline looks forward to strengthening trade links between Singapore, Penang, and Dubai through its offer of high-quality international air service.

(Source:
New Straits Times
,
Channel News Asia
)

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Alex Cheong Pui Yin

Alex Cheong Pui Yin

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

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Best Mother's Day Credit Card Promotions

The bond between a parent and child is infinite. This Mother’s Day, express your appreciation to your mom by pampering her in ways that she will never forget.

There is definitely a promotion for every budget. We feature some of our favourite promotions that only get cheaper with the swipe of a credit card. Here are our picks for good credit card rebates this Mother’s Day.

Snag an Oroton Accessory Discount with RHB Bank

For many a discerning lady, her Oroton handbag, wallet or costume jewellery is a must-have fashion accessory. But for your mum who has tirelessly spent her last ringgit on making sure you were taken care of; buying an RM700 handbag may have been the last thing on her mind.

Treat her to it with
RHB credit card
‘s swipe and
receive a 10% discount
. It may not seem like much but that’s a saving of RM70 if the handbag is priced at RM700 – enough to pay for a round of afternoon tea for her as well!

If you’re looking for gift ideas – the
Oroton site
 has already compiled their fave mother’s day gifts. The promotion is valid with any RHB credit card until 31 December 2015.

OCBC Reebonz Mother’s Day Promotion

Satisfy your mother’s shopping needs with your
OCBC MasterCard
 and Reebonz promotion. Get RM100 off when you swipe a purchase of RM800 at Reebonz and redeem your discount with the discount code: MYMC100.

All you have to do to redeem is:

1) Visit
Reebonz website
;

2) Choose your products;

3) Enter the discount code and pay using the OCBC Mastercard/Credit Card!

The RM800 threshold may seem a bit much to some but considering the prices of items on Reebonz – you can move way past that number on just one pre-loved item!

Offer valid from 1 May – 15 May 2015. Discount code valid for 1 time only and is not applicable to selected events or merchandise. Not valid with other functions, promotions, coupons/vouchers and loyalty/privilege card unless stated.

Public Bank and Lazo Diamond Promotion

Sometimes, buying a bit of bling can be just the thing for both your parents this Mother’s or Father’s day. With this promotion, you can even earn a third gift if your gifts total over the minimum spending.

Swipe your
Public Credit
/Debit Card when you spend a minimum of RM1,000 in a single receipt and redeem a complimentary cultured pearl bracelet worth RM299. Charm your parents this Parent’s Day with these precious beads exclusively by Lazo Diamond Jewelries.

Check out the
terms and conditions
 for more information.

Maybank Movie and Massage For Mom

Maybank seems to have come up with quite the package for moms this year with a host of hot promotions. However, these two caught our fancy and are options for most budgets.

Movie with Mom

Fancy a movie with your mom? Use your
Maybank Credit
 or Debit card at TGV or IMAX cinemas and
enjoy a flat price
 of RM10 for standard tickets all year round!

Movie buffs can also enjoy one-for-one movie tickets every Thursday. Stay up-to-date with the latest movie releases while easing your pocket at the same time.

Receive 10% of savings at the Concession counters and 20% savings at Chill*X, Vie Café and INDULGE. Now your mom and you can de-stress at the movies with you all year round!

As they say, spending quality time with your mom is the most precious gift you can ever give to her.

A Mother’s Day Massage

Give your mom a relaxing time this Mother’s Day (and every day henceforth) by investing in the GINTELL De’Wise Wisdomatic Massage Chair. Get a rebate for up to RM4,000 exclusively when you use your Maybank Credit Card. This special offer is via invitation only, exclusively for Maybank credit card holders.

To enjoy this special rebate with your Credit Card, present your GINTELL invitation card and visit the exclusive GINTELL roadshows stated to get the complimentary GINTELL Eye Massager worth RM128.

For roadshow venues, terms and conditions,
check out Maybank’s Promo Page.

HSBC Sends Food to Your Door For Less

Sometimes, the best gift you can ever give your mom is your love and time. If your mom would just like to rest at home without having to do the cleaning or cooking – perhaps the answer is in a delicious meal sent over by FoodPanda!

Use your
HSBC Credit Card
 and get RM10 off when you order your meals at Food Panda. Give your mom a break from the usual routine of cooking

this Mother’s Day and spend that time talking to her instead.

Offer valid until 31st December 2015.

Too Steep For Your Wallet?

Some of the discounts here may be too steep for your wallet but that doesn’t mean despair! You can treat mom to anything you can afford and we’re sure she’ll love it (as she does you!).

That said, do take a good look at your credit card promotions as there just may be something you could use. Every credit card under the sun offers dining rebates, shopping discounts and rewards points/cashback on your spending so there’s bound to be a way you can treat mom to something good this Mother’s Day.

Are you looking for a more rewarding credit card? Let
our card comparator
 help you out.

Happy Bonding 😉

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BNM Is Expected To Reduce OPR By 50 Basis Points Today

(Image: The Star)

Bank Negara Malaysia (BNM) is expected to make yet another overnight policy rate (OPR) cut today, this time by a large 50 basis points (bps), according to several economists surveyed by Bloomberg. This would cause the country’s OPR to decrease from the current 2.5% to 2.0%, and is meant to encourage economic growth as the government begins relaxing the movement control order (MCO).

If carried out, this reduction will be the third to be made this year, and will be the largest cut in more than a decade. Prior to this, BNM had already introduced a first and second OPR cut in January and March 2020, respectively. The first cut brought the rate down from
3.00% to 2.75%
, and then subsequently
2.75% to its current 2.5%
.

(Image: The Sun Daily)

“Bank Negara Malaysia may cut its policy rate by 50bps to 2.00% on Tuesday. The economic outlook has changed dramatically since BNM’s previous policy meeting on 3 March. The coronavirus became a pandemic, governments worldwide (including Malaysia) locked down their economies to contain the spread, and financial markets melted down in an historic fashion,” said an ASEAN economist, Tamara Mast Henderson.

This prediction comes as the government announced the relaxation of the MCO, which was estimated to have cost Malaysia a total of RM63 billion. The country is set to fully lift its restrictions on 12 May 2020.

Prime Minister Tan Sri Muhyiddin Yassin also said that his administration will work with the central bank and other agencies to draft both short- and long-term strategies for the country’s
post-MCO economic recovery plan
 to revive the economy.

CGS-CIMB Securities
, too, had earlier predicted that BNM may further reduce the OPR by another 75bps throughout year 2020 with a third and fourth cut. The research house expected the central bank to implement a 50bps cut in May 2020, followed by another 25bps cut in the second half of the year.

For the Malaysian public, an OPR cut means that you will get
lowered interest rates
 for both savings and loans. This may be good news for those on a variable-rate loan (such as home loans) or those who wish to take out a future loan. However, you will also be earning less for your savings accounts and fixed deposits.

(Source:
Free Malaysia Today
)

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Alex Cheong Pui Yin

Alex Cheong Pui Yin

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Islamic Banking terms explained

Although relatively new in the industry, Islamic banking is slowly gaining recognition as a new form of personal financing. If you’ve been scouting around for a good personal loan plan you probably would have come across many Syariah-compliant loans: which essentially mean they are in line with Islamic teachings. Syariah refers to laws and practices in Islam and banks that observe this offer alternative financial schemes that operate under these principles.

Getting a grasp of the Islamic financing system can be challenging when you are not familiar with Syariah principles, especially with all the specific  terminology used. Even on the face of it, many do not realise that Syariah compliant loans are also available to Non-Muslims.

So to help you make the best choices, we at RinggitPlus have compiled a short guide of terms commonly found in Islamic personal loan pages. This is not meant as a definitive glossary but more as an introduction and a few things to spot before you start applying.

For Personal Loans in General

Gharar
 – Refers to financial dealings of unfair practices or contains an element of excessive deceptive uncertainty/risk. In short, these include investments involving high risks and where the
Aqida
 (consequence) is not sufficiently known. For instance, as gambling and short-selling are considered
Gharar
and are not allowed in a Syariah-compliant business entity.

Hibah
 – Because interest-giving (riba) is against Syariah law, banks may instead award a token ‘gift’ to customers with saving accounts. Although in principal it sounds similar to interest given by conventional banks,
hibah
 is voluntary at the sole discretion of the bank.

Wadiah
 – Wadiah is the concept of custody or safekeeping (
Amanah
) and refers to deposits customers make into their accounts. In return they occasionally receive
hibah
 as a token gift from the bank. Also applies to other services such as deposit boxes and custodial services.

For those purchasing a car

Ibra’
 – Loosely translated as the ‘waiver on right to claim’,
ibra’
 is the waiving of the right to collect further monies owed when customers settle their loans ahead of the agreed settlement period. This essentially means that the bank will only charge interest (or profit as referred herein) up to the date of settlement and not for the entire term as agreed in the agreement. This only applies to sale-based financing such as a hire purchase. Bank Negara Malaysia has recently released a
guideline
 for
ibra’
 urging more Islamic Financial Institutions to take up the practice so expect to see this new feature pop up a lot in banks.

Ijarah Thumma Bai’
 – The Islamic approach to hire purchase loans; the process incorporates a two-phase contract between bank and debtor. Instead of lending the money, the bank acquires the vehicle on behalf of the customer and leases it them on an agreed term and price. This part of the contract is called
Ijarah
. Once the conditions of the tenure have been met the second contract,
Bai
 comes into effect officiating the purchase of the vehicle and transference of ownership.

Qard
– Shorten from
Qard Hassan
 which means a good or benevolent loan. It layman terms
qard
 is an interest-free loan given on a goodwill basis on a fixed period. The borrower is not charged any interest but may pay more than the principal amount as a gesture. This practice is at the discretion of the borrower however and is not a guaranteed outcome of every transaction.

For those looking to buy a home

Murabahah
 – The concept of
Murabahah
 cannot be termed as a loan but is more of a purchase of some commodity or property which is then sold to the customer on a deferred payment schedule which includes an amount of profit. It is, like the
Ijarah Thumma Bai
, a sale and not a financing facility. As such, before a transaction is agreed upon the seller must provide information on actual cost, profit margin and all additional charges on an asset. This form of transparency is to ensure that all financial agreements are made in good faith and protects the interest of both parties and adheres to the term of being a sale and not a loan.
Murabahah
 cannot be affected on anything that isn’t a saleable commodity or property, such as payment of salaries or debts.

Musharakah
 – A form of joint venture where a contract is drawn between two or more parties and profit is shared according to an agreed profit/loss sharing ratio. In the context of real estate and property the bank will assess imputed rent and share the rates in advance before the final agreement. You will see this term often if you are looking into applying for an Islamic home loan.

Wakalah
– The Islamic concept of ‘power of attorney’. In this context the bank would act on behalf of the customer to deal with particular business undertakings. It is an ‘investment service’ offered by the bank according to Syariah principles. Under the Wakalah system, the bank is able to charge a fee for the investment ‘service’ rendered. Upon cancellation, the investor will be given the net amount invested after minusing the requisite fees.

As you can see, Islamic banking in Malaysia is not that foreign from conventional financial institutions. Aside from an aversion to interest-based transactions, Islamic personal loans operate on a co-operative system meant to encourage profit-sharing and fair trading.

When shopping around for the best rates it’s adviced to consider all options available.
Bank Negara Malaysia has a list of Syariah-compliant banks
 with competitive rates and offers that may reflect your current financial needs.

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Store Loyalty Cards: The Good, the Bad and the Downright Manipulative Marketing Tricks

What Is A Store Loyalty Card?

No no, we don’t mean the credit cards that are affiliated with specific stores or brands. Store loyalty cards are the membership cards that are offered by certain hypermarkets or brands that allow you to collect points as you spend.

Tonnes of stores in Malaysia offer loyalty programmes and you’ve most likely signed up for one (or ten) but hey, who’s counting? What we want to know is if these cards are really worthy of our loyalty or if they are actually ‘costing’ us in some way? Here’s a peek at the good and bad sides of store loyalty cards:

The Good

The idea behind a loyalty card is for you, the customer, to be rewarded for staying faithful to a particular brand. You’ll typically earn points which can be exchanged for cash vouchers, discounts and other goodies. If you already like a particular brand and shop there anyway, a store loyalty card could give you much more value for the money you spend.

But still, some cards are definitely better than others. Let’s take a look at what makes a store loyalty card good:

Discounts And Cash Rewards

We love programmes that offer us better prices and we’re definitely not alone in this! In fact, over half of the participants in a global
survey
 said that they value discounts above all other rewards. That’s why even paid loyalty programmes like
POPULAR Card
 from POPULAR Bookstore (which provides 10% store-wide discounts and 20% off selected books) remain attractive, because if you’re a frequent spender there, you’ll save so much more money over a short time!

The AEON retail store also has an advantageous paid loyalty programme that gives rebates of up to 5% at their General Merchandise Store. In addition to that, they also offer some of the best discounts on members’ sales and savings days. Members also earn loyalty points when they shop which can be redeemed for
cash vouchers
 or even to pay for membership renewal.

Free loyalty programmes are not half bad either. For instance, the AEON BiG Member Card offers store-wide discounts (with some exceptions) of 5% on the 28th of every month as well as cash voucher redemption for accumulated loyalty points.

Rewards Can Be Earned And Redeemed at Multiple Stores

Many store loyalty programmes actually allow you to convert your rewards at partner stores or even earn from participating merchants. For instance, the
TRIUM Card
 lets members earn points from Kitschen, Nichii and Dressing Paula, where every RM1 spent equals to 1 point.

Upon accumulation of 500 points, you will automatically be gifted a RM50 e-voucher which you can then spend at these stores. Points don’t expire and the card is free – it’s big win!

Free Membership

There’s no such thing as a free lunch? Well some free memberships might actually serve you one! For instance,
The Pinch of Salt
 card is a free-to-join loyalty programme that provides cash rebates off your bills. The rebates will be credited to the card and can be redeemed the next time you dine at participating outlets.

Now, you might think that the rebates are quite impressive as is for a free loyalty programme, but they also give out a RM30 dining credit for birthdays, pre-loaded into the card. Last but not least, members can also take advantage of promotional discounts from a number of restaurants including TGI Fridays, Bulgogi Brothers and Italiannies.

Other cool free cards to consider signing up for are the Ikea Family Card and the PETRONAS Mesra card, because who doesn’t want freebies and discounts when shopping for home furnishings or filling in the petrol?

No Expiry Date

With points and rewards that don’t expire, members can take their time to accumulate points and redeem their rewards with less pressure to overspend.

The
Petron Miles
 programme offers free membership and will not expire if you swipe at least once within a 12-month period. You’ll earn ‘miles’ that can be converted into cash vouchers and used to pay for fuel or mart items, or even AirAsia BIG Points.

So now you know what makes a good card – it’s time to look at the potential negatives of certain loyalty programmes:

The Bad

A loyalty card is as much a marketing tool as it is a reward system for the consumers. This is because most cards, if not all, are designed to entice and induce customers to spend more in exchange for precious points. A loyalty card can cross over to the bad side if it possesses any of these four characteristics:

It’s extremely difficult to accumulate points or troublesome to redeem rewards.

It does not offer the rewards you want or it is suggesting rewards that aren’t worth the expense.

It’s causing you to spend unnecessarily because you can’t resist the temptation to collect points or get the free gifts offered.

It’s more expensive than it’s worth – paid loyalty programmes shouldn’t be dismissed outright but if you are paying for a card you aren’t using – then you are wasting money. Worse still, if the rewards you receive can’t even cover the cost of the signup fee.

In these cases, your card is doing more damage than good and it would be healthier for your finances if you just chuck out.

How To Get the Most From Your Card Without Falling For Manipulative Tricks

Store loyalty cards aren’t bad, in fact, when used appropriately and reasonably, it can help you save more and spend less. Here’s how you can stay on top of the store loyalty cards, and get the most out of them!

Be picky when you sign up for cards, even if they are free.
 A
Nielsen survey
 proved that customers tend to shop more frequently and spend more when they have loyalty cards. Thus, it might be better for your wallet to resist the need to impulsively sign up for loyalty programmes. Only sign up for the stores that you really frequent for your needs, such as groceries stores, pharmacies, and your go-to clothes stores that you always visit for your apparel needs.

Choose programmes that provide straightforward discounts,
 higher Ringgit value for points as well as fuss-free redemption. Even though some programmes may appear to offer rather attractive rewards, when you actually do the math, you’ll find that it can be quite hard to either accumulate points or redeem them. It’s best to steer clear from complicated programmes like these as the benefits may be rather one-sided.

Stay on top of promotions.
 Some loyalty programmes don’t make their best deals widely-known as it happens but advertise so at the point of card signup. This is typically true of programmes that make you pay for membership or renewals. The interesting thing is that these promos are usually more worthwhile than others. Do check out the store website and sign up for Google alerts to stay on top of big discount days.

Read also:

Should You Move Back Into Your Parent’s Place?

Green Alert! Choose digital versions of loyalty programmes where possible. Not only are these easier to keep track of, it’ll also help reduce the amount of plastic cards in circulation.

Of course, another way for you to take advantage of reward points and cash backs is by signing for rewards credit cards. Besides, some rewards are better than the others, and what better way to compare their benefits than by visiting our
comparison page
? We hope this article will help you in making better financial decisions, and get more for your money!

Do you have any other ideas on how you can maximise the benefits of a store loyalty card? Let us know your thoughts and ideas on the comment section below!

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Maybank Keen To Contribute To Development Of CBDC

(Image: The Star)

Maybank has said that it is keen to play a major role in the development of central bank digital currencies (CBDCs), in line with Bank Negara Malaysia’s (BNM) current assessment of the instrument’s potential.

According to the president and group chief executive officer of Maybank, Datuk Seri Abdul Farid Alias, BNM is exploring an area that is also of interest to many other central banks around the world. This interest is spurred especially due to the new technology that exists in transferring files, materials, and money through distributed ledger technology and the existence of cryptocurrencies.

“CBDC has become more crucial for central banks to figure out and introduce them. In the process of [doing so], it will help transform the economy to a 100% digital economy, or rather, from the payment perspective,” Datuk Seri Abdul Farid said.

(Image: The Star)

Datuk Seri Abdul Farid also stressed that Maybank, too, needs to study the technology involving CBDC as it does not want to invest unnecessarily. It is crucial that the bank chooses the right time and technology to dabble in the new instrument for the benefit of the country, he said.

Meanwhile, the chairman of Maybank, Tan Sri Zamzamzairani Mohd Isa commented that it is inevitable for Maybank to look into CBDC, since the rest of the world is also doing so. He also opined that there will not be “a knee-jerk reaction” from any parties on the matter, and that all aspects of CBDC will be debated on before it is implemented.

“Something like [CBDC] – if not exactly this – I foresee will happen in the future; that is just how the world has moved in the digital era, but then I think it will be in a controlled manner. We are happy to participate in any way we can with what BNM is doing,” said Tan Sri Zamzamzairani.

(mage: New Straits Times/Nur Adibah Ahmad Izam)

Earlier this year, BNM had remarked that it
may begin experimenting with CBDCs
 in a bid to support the country’s financial development and economic transformation. However, this process is expected to take place only over the course of the next few years as in-depth studies need to be performed.

Last month, BNM also revealed that
it had participated in an international project called Project Dunbar
 to help develop the prototypes for a common platform that allows international settlements using multiple CBDCs. The project saw BNM working together with the central banks of Australia, Singapore, and South Africa, as well as the Bank for International Settlements (BIS) Innovation Hub.

(Source:
The Edge Markets
)

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About THE AUTHOR

Alex Cheong Pui Yin

Alex Cheong Pui Yin

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

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Salary Subsidy Programme Extended; Childcare Subsidy And Financial Aid For Vulnerable Groups Introduced

Prime Minister Tan Sri Muhyiddin Yassin has announced that the government will be extending and enhancing the ongoing Salary Subsidy Programme for another three months. Additionally, it will introduce new subsidy programmes and financial support for childcare and vulnerable groups as well.

The existing Salary Subsidy Programme offers a RM600 salary subsidy for three months to all employees who are earning less than RM4,000 per month, and are working for employers who have suffered an income loss of more than 50% since 1 January 2020.

Now, the subsidy programme will be extended to end of September 2020, and employers who are enrolled in the programme are allowed to implement reduced work week arrangements and pay cuts of up to 30% pay cut. Employers in the tourism sector and other businesses which were prohibited from operating during CMCO are also allowed to receive wage subsidy for employees on unpaid leave, provided that the employees receive the subsidy directly.

RM5.3 billion has been allocated for this programme, and it is expected to benefit 2.7 million workers.

Aside from that, the government is also subsidising childcare expenses to support working parents during the conditional movement order (CMCO). This support will begin in June 2020, and will provide working parents with the following:

E-vouchers of RM800 per household for mobile childcare services (used from now until end of August 2020)

Increase in income tax relief for parents on childcare services expenses, from RM2,000 to RM3,000 for YA2020 and YA2021.

Childcare centres will also get a one-off grant of up to RM5,000 if they are registered with the Ministry of Women, Family and Community Development (up to 31 December 2020). The grant is intended to help them comply with the new healthcare SOPs. The prime minister also mentioned that the government will provide incentives to train new practitioners for child nursing and early education course, but details are still scarce at the moment.

Lastly, a one-off financial assistance of RM300 will be provided to vulnerable groups such as registered OKUs, single mothers, and volunteers from home help services. As many as 342,000 individuals will benefit from this. The payment is expected to be disbursed before Hari Raya Aidiladha in July 2020. The government will also be providing grants to related non-government organisations (NGOs).

Additionally, the prime minister has also announced the PENJANA GLC Community initiative to further assist the vulnerable groups. The initiative encourages GLCs to “adopt” a community and carry social economic development projects with the community.

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About THE AUTHOR

Alex Cheong Pui Yin

Alex Cheong Pui Yin

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

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Government To Draft A New Inclusive Economic Policy Focused On "Shared Prosperity"

(Source: Twitter @AzminAli)

The government will be drafting a new economic policy for the Malays, said Economic Affairs Minister Datuk Seri Azmin Ali. The new “inclusive” policy will be centred on fairness, growth, and sharing of prosperity. It will reflect the spirit of inclusiveness and justice, which will contribute to the concept of prosperity-sharing – where wealth would be shared with all Malaysians.

In the current financial climate, this new policy will help in tackling the economic challenges faced by the people. But no details were given on the policy specifics yet.

According to Datuk Seri Azmin, the government is concerned with the struggling Felda community and smallholders. His
visit to Kelantan
 this month has strengthened the relation between the federal government and the state government. He added the stronger ties will help in boosting the economy of the people especially those in rural areas.

(Source: New Straits Times)

The Economic Affairs Minister added that the government is looking into new initiatives to help sustain the agriculture and farming sectors. This will lead to the growth of income and purchasing power of the rural folks. A series of discussions with stakeholders in the economic sector including chambers of commerce, government-linked companies, non-governmental organisations and economic experts will be carried out. Azmin is optimistic that Malaysia’s economy will get back on track and would be fit to compete in the global market.

(Source:
The Star
)

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Hayatun Razak

Hayatun Razak

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