Spend & Win The (Yet To Arrive) iPhone 5!

CIMB, Maybank and UO
B can’t wait to give the iPhone 5 away!

Fancy an iPhone 5 but just don’t have the cash? Fret not! All you need is a credit card or debit card from CIMB, UOB or Maybank, swipe as little as RM50 on retail transactions and you’ll be in the running to win this highly anticipated smartphone!

CIMB was the first to launch the promotion on the 15th of October 2012 and theirs runs 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.  Credit card holders have to spend a minimum of RM50 in a single receipt with a CIMB Bank credit card or debit card to earn an automatic entry. Anyone planning a holiday overseas must remember to bring their CIMB credit cards as every single RM50 charge outside Malaysia gains you five competition entries.

If you don’t have a CIMB debit card, now is a great time to get one: once you sign up and spend a minimum of RM50 in a single receipt you will automatically have ten chances of winning an iPhone 5. If that isn’t enough you can apply for a CIMB credit card and get twenty entries when you spend at least RM50 in a single transaction. Transfer the balance from another credit card to your new CIMB  credit card and you’ll be awarded another ten entries.

UOB Bank are also giving away iPhone 5s in the UOB 2012 Year End Giveaway. In their on-going promotion, which ends on 31
st
 January 2013, two lucky winners will be randomly selected every week. Each local transaction of RM50 on either a UOB credit or debit card is entitled to one automatic entry. Every overseas spend of RM50 will be rewarded with ten automatic entries.

Don’t have a UOB credit card? Well if you apply for a new UOB credit card now and your application is successful you’ll get ten entries upon activation. Have your credit card balance from another card transferred to your new UOB card and you’ll get another entry for each RM1,000 of approved transferred balance. You will also receive one entry per RM1,000 approved Flexi-Credit Plan facility .

Last but not least, Maybank is running an enormous giveaway in their
One Swipe, Win Six Apples
 competition which runs from 1
st
 November until 28
th
 February 2013.

With this competition you can win an iPhone 5, iPad 16GB, iMac 21.5”, iPod Touch 16GB, Macbook Air 11”, Apple TV and RM500 EpiCenter Apple vouchers! There are a total of thirty-two weekly and one hundred and twenty daily prize winners throughout the contest.

However, unlike CIMB and UOB, the contest is only open to Maybankard Visa or MasterCard holders. All you need to do is spend at least RM100 on retail transactions in a single receipt and you’ll automatically be in to win. Competition entries can be doubled by registering an NRIC number via SMS. Newly applied and approved Principal Maybankard Visas or MasterCards will also gain double entries during the contest period.

For all three campaigns, short-listed card members will be contacted via telephone to answer question(s) before they are selected as winners.

So start swiping now and be one of the first people to win an iPhone 5 in Malaysia!

Image:
Apple

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


Consumers May Need To Pay More For Electricity Due To Fuel Price Hike

(Image: Malay Mail)

Domestic users may see a surcharge imposed on their electricity bills next month, following significant hikes in global fuel prices due to the ongoing Russia-Ukraine conflict. This comes as the government is reportedly considering whether to allow consumers to shoulder the growing cost.

To note, prices for coal – which contributes to almost 50% of Malaysia’s power generation needs – have increased by fourfold since the tension between Russia and Ukraine escalated. The benchmark Newcastle coal price, for instance, rose from US$67.5 per tonne to a record high of US$440 (approximately RM1,940) in early March. Unsurprisingly, this has caused difficulties for Tenaga Nasional Bhd to maintain the current rates for electricity usage.

Given the situation, a source said that Putrajaya is contemplating updating the Imbalance Cost Pass-Through (ICPT) formula during its next review to forward the cost to consumers in the form of a surcharge. Briefly, the ICPT is a mechanism used to review the electricity tariff every six months, allowing it to reflect the changes in fuel and other generation-related costs. Its next review is due to take place in July 2022.

(Image: The Star)

If approved, this marks the first time that domestic users will be charged a surcharge in their electricity bill, on top of the base electricity tariff. The surcharge amount will be determined by the Energy Commission (EC). Meanwhile, the imposition of electricity tariff surcharges is not a new occurrence for commercial users.

At present, Malaysia’s
base electricity tariff is set at 39.45 sen/kilowatt hour (kWh)
 for all electricity users in Peninsular Malaysia – to be maintained until 31 December 2024. Residential users are also currently benefitting from a rebate of 2 sen/kWh, with no surcharge imposed. Commercial users, on the other hand, do not enjoy any rebates, and are required to pay a surcharge of 3.7 sen/kWh.

(Source:
The Vibes
)

0

0

votes

Article Rating

SHARE

TAGS:

Electricity

Electricity Bills

Electricity Tariff

Energy Commission

Tenaga Nasional

Tenaga Nasional Berhad

TNB Imbalance Cost Pass Through (ICPT)

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

    Anonymous

    1 year ago

Xda laa tinggi mana .. 2008 was usd145/barrel.

And when the price nose down.. tnb xda pulak revisit to discount the user..

0

Reply


Everything You Need To Know About the EPF

If you are new to the workforce, there’s a chance that you’re still in the dark about what Employee Provident Fund (EPF) account is and what it means for your financials. Let’s get to it and learn more about the main retirement account in Malaysia!

What Is the EPF?

You probably already know this but – just in case you didn’t, EPF is essentially a retirement savings account for employees of the private and non-pensionable public sector. EPF members are made up of these employees and those who voluntarily choose to contribute as well.

The EPF agency collects contributions from employers at a rate of 13% for employees who receive wages of RM5,000 per month and below (and 12% for those earning above RM5,000 per month). Employees also have an option to contribute either 8% or 11% of their monthly wages. The contributions and dividends will be divided into two accounts; 70% goes into Account 1 and 30% into Account 2.

These contributions are mandatory for all employers and employees; it’s also an avenue for employers to provide structured benefits and to fulfil a moral obligation to their employees.

Registering as an EPF Member

Registration is automatic when the EPF receives the very first contribution in your name (based on your Identification Card details) from your employer. You can also register yourself via post or at the EPF counter with
Form KWSP 3
.

What you should do after you have an EPF number is to sign up for an online account with EPF (
i-Akaun
). With an online account, you can save yourself the trouble of making the trip to the EPF office for withdrawal requests, getting your current and past year EPF statements, as well as updating your correspondence details and nominations. All these account activities are available to perform online via i-Akaun.

Registering for the online account is simple; all you need to do is obtain the activation code from an EPF kiosk or counter and proceed to the login page on the EPF
website
 to complete your registration, and presto, you’ll have your very own i-Akaun!

EPF Benefits You Should Know About

Apart from the account being a savings vehicle for retirement, you are also entitled to certain
additional benefits
. Here are four important ones, some of which you may not know about:

Dividend Earnings –
 The EPF guarantees annual minimum dividend earnings of 2.5% – although the average is
5% to 6%
 for the past 10 years. At this rate, your savings are protected from inflation and builds rather healthily over the long-term.

Death Benefit –
 The next of kin or dependent of EPF members may be given a death benefit of RM2,500 if members have not attained the age of 55 (subject to consideration and other conditions by EPF).

Incapacitation Benefit –
 RM5,000 will be provided to eligible members who apply for Incapacitation Withdrawal and are unfit to work (subject to consideration and other conditions by EPF).

Tax Exemptions –
 Your contributions are tax deductible up to a maximum of RM6,000 per year which is inclusive of your life insurance premium. In addition, dividend earnings from EPF investments are also free of tax.

Can You Make Withdrawals?

You can make withdrawals, but only for specific purposes outlined by the agency. For instance, you may withdraw a portion to perform Hajj, invest in unit trusts, pay for your education, pay down your home loan, fund your medical expenses, or buy property or build a house.

At age
50 to 54
, you may withdraw some or all the funds from Account 2. You may also fully withdraw your account if you plan to leave the country or when you reach the age of 55.

Read Also:
Everything You Need To Know About EPF Investment Schemes

Making Voluntary Contributions

If you are unemployed, you may still contribute to an EPF account and enjoy the benefits (subject to terms and conditions). Those who are self-employed, a domestic servant, retired worker or “person not defined as an employee in the EPF Act 1991” may sign up for self-contributions. You can contribute as little as RM50 per month to a maximum of RM60,000 per year.

Still, are EPF contributions the best way to save for retirement? Well, we’re leaning towards the affirmative. For one, whether you are employed or not, everyone needs retirement savings and with guaranteed returns from the EPF, you’ll always have something to fall back on.

Also, since your contributions are tax deductible, you can lessen the amount of taxes you pay each year.

Want to know what else you can do with your EPF savings? Then, check out our article about
Should You Pay Off Your PTPTN Debt With Your EPF Money
?

Have you ever withdrawn from your EPF account? Do you think it’s a good retirement savings idea? Let us know your thoughts and suggestions in the comment section below!

5

2

votes

Article Rating

SHARE

TAGS:

Employee Provident Fund

EPF

EPF Act 1991

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


CIMB Enrich MasterCard will fly you to London or Paris

Ever dreamed of seeing Big Ben or the Eiffel Tower in person? Thanks to the latest promotion from
CIMB Enrich MasterCard
, you now have the chance to.

All you need to do is spend RM500 and above in a single receipt with your CIMB Enrich MasterCard and
you could be in the running to win a pair of tickets to London or Paris!

First Prize winners will fly First Class on board the Malaysia Airlines A380. 2
nd
 and 3
rd
 Prize winners fly Business Class, while 15 Consolation Prize winners fly Economy.

Every RM500 you spend on your credit card earns you one entry. Successfully apply for and activate a new card and you’ll get 10 entries.

On top of the contest, you’ll also enjoy 10,000 and 5,000 Bonus Miles when you apply for a CIMB Enrich Platinum MasterCard and Gold MasterCard online respectively. Applying at CIMB Branches or Card Service Centres will earn you 4,000 Bonus Miles for Platinum cards and 2,000 Bonus Miles for Gold ones.

Promotion ends 31 May.

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


Versa Introduces Investment Solution, Versa Invest

Versa has introduced a new investment solution, Versa Invest, which is said to provide users with “higher potential returns” than its existing cash management solution, Versa Cash. Managed by asset management firm, Affin Hwang, it offers three portfolios to meet the varying risk appetite of its users.

Specifically, the three portfolios provided under Versa Invest are Versa Conservative, Versa Moderate, and Versa Growth – each meant to cater to different investment goals and risk preferences. At present, however, only Versa Moderate and Versa Growth are available for investment; Versa Conservative is expected to be rolled out at a later date.

The Versa Moderate portfolio is described as a “balanced portfolio [that is] suited for mid to long-term goals”, whereas Versa Growth is “crafted for longer term, [with] high risk for higher potential returns”. According to Versa, each portfolio will let you invest in over 250 global companies.

Here are some key details about both portfolio:

Portfolio
Average annual return over past three years
Allocation
Examples of companies included in portfolio
Versa Moderate
9.1% p.a.
– 32% equity
– 67% bond
– 1% cash
– Alphabet
– Amazon
– Apple
– BNP Paribas
– Haier
– Microsoft
– Tencent
– Tesla
Versa Growth
15.7% p.a.
– 60% equity
– 38% bond
– 2% cash
– Alphabet
– Amazon
– Apple
– Microsoft
– Moderna
– Nvidia
– Tencent
– Tesla

Versa also highlighted that investors will be growing their wealth with top fund managers from well-known fund houses such as Baillie Gifford, Blackrock, Nikko, and Allianz Investment. The minimum entry requirement to invest with Versa Invest is set at a low RM100, with no sales and withdrawal fees charged. There is, however, an annual management fee of 1% p.a., a trustee fee of 0.04% per annum, as well as fund level fees of 0.6% to 0.76% p.a..

If you’re interested to check out the new Versa Invest, you can access the feature via the Versa app. Upon logging into your account, you’ll need to complete a Suitability Assessment, where you’re required to key in some basic information about yourself, including your current age and annual income, investment horizon, and expected returns. Versa Invest will then help you to build your risk profile, after which you can choose the fund that you wish to invest in. Confirm and deposit your preferred investment amount, and you’re done!

Versa further noted that current Versa users can make use of the Switch function if they want. It allows them to seamlessly transfer funds from their existing cash management portfolio in Versa Cash to Versa Invest with no transfer fees.

Prior to this, Versa only has
Versa Cash
, which allows Malaysians to tap into money market funds and earn interest rates of
up to 2.46% p.a.
. With the launch of Versa Invest, Versa now features a model that is similar to many other robo-advisors and digital investment apps, where they also have a cash management function and an investment function. Examples include StashAway (StashAway and
StashAway Simple
) as well as KDI (
KDI Save
 and
KDI Invest
).

(Source:
Versa
)

5

2

votes

Article Rating

SHARE

TAGS:

Affin Hwang Asset Management Berhad

Versa

Versa Cash

Versa Invest

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


Enjoy 20-Year Coverage By Paying 5 Years Premium With Gibraltar BSN Cash Star

Whether you’re aiming to build your children’s education fund or save for a fulfilling retirement, it will require patience, sacrifice and of course, hard work.

However, that doesn’t mean you have to do it alone — Gibraltar BSN Cash Star is here to help make it easier for you to achieve your financial goals, while offering you insurance coverage at the same time.

Get Protected & Reach Your Financial Goals

Gibraltar BSN Cash Star is a 20-year endowment plan that combines wealth accumulation and protection features. The premiums you pay act as a savings vehicle while also giving you the benefit of insurance coverage. With an entry age from 2 weeks old to 60 years old, Gibraltar BSN Cash Star starts from a minimum sum assured of RM10,000.

All you need to do is to stay committed to your payment schedule. With Gibraltar BSN Cash Star, you can opt for 5-year limited premium payment plan.

Guaranteed Cash Payments Of Up To 6.5%

The
Guaranteed Cash Payment
 is paid as a percentage of your basic sum assured and will increase over time. On your first policy year, the percentage of your cash payments will be at 2.5%. Over the next 2 to 5 years, it will increase to 3.5% and finally, at 6.5% annually from years 6 to 20.

End of Policy Year

Guaranteed Cash Payment

(% of Basic Sum Assured)

1

2.5%

2 – 5

3.5%

6 -20

6.5%

Apart from these yearly guaranteed cash payments, you may also receive additional
Non-Guaranteed Cash Dividends.

Both of these payments can either be withdrawn and used as extra funds for your children’s education, to build your retirement fund, or even investments. Or, you can choose to let it accumulate with the Company to earn more funds till the end of your policy.

Enjoy 100% Of Basic Sum Assured In 20 Years

Once your policy matures at the end of 20 years, you will receive a lump sum of 100% of your Basic Sum Assured, along with any Guaranteed Cash Payments and Non-Guaranteed Cash Dividends you’ve accumulated.

So, if you signed up with the minimum Basic Sum Assured of RM10,000, at the end of 20 years you’ll receive RM10,000, plus the Guaranteed Cash Payments, and Non-Guaranteed Cash Dividends.

Stay Protected With The Benefit Of Waiver Of Premium & More

Gibraltar BSN Cash Star also comes with
Waiver of Premium Benefit
. This means that in the event that you are diagnosed with a critical illness, all future premium payments will be waived accordingly. You will still get to enjoy the full benefits of your Gibraltar BSN Cash Star plan while you focus on getting better.

For insurance coverage, Gibraltar BSN Cash Star offers
Death Benefit and Total & Permanent Disability (TPD) Benefit
. Upon the occurrence of these unfortunate events, 100% of Basic Sum Assured, accumulated Guaranteed Cash Payments, accumulated Non-Guaranteed Cash Dividends, and Terminal Dividends will be payable in one lump sum.

Furthermore, Gibraltar BSN Cash Star also offers an additional 100% of Basic Sum Assured with their
Accidental Death Benefit and Accidental Total and Permanent Disability  Benefit.

For example, Harry’s Basic Sum Assured is RM10,000. If Harry is permanently disabled due to a car accident, he will then receive an additional RM10,000 on top of his payable lump sum of 100% of Basic Sum Assured, accumulated Guaranteed Cash Payments, accumulated Non-Guaranteed Cash Dividends, and Terminal Dividend.

Widen Your Protection Coverage With Riders

Policyowners can also enhance the coverage of their Gibraltar BSN Cash Star policy by attaching riders for medical coverage with cashless admission or pay & file admission, critical illness, accidental death or injuries, female diseases and reconstructive surgery.

So if you’re looking to get the best of both worlds by achieving your financial goals and getting insurance coverage, Gibraltar BSN Cash Star may be the answer. With a 20-year coverage for only 5 years of premium payments plus Guaranteed Cash Payments, your journey towards your life goals could be a few steps closer.

For more information and to inquire for a quote, head to
Gibraltar BSN Cash Star’s website
 to find out more.

5

1

vote

Article Rating

SHARE

TAGS:

Cash Star

Endowment Plans

Gibraltar BSN

Gibraltar BSN Cash Star

Insurance

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


Can You Handle a Used Car Purchase?

Buying a car is an exciting step and for many reasons people opt to buy used cars instead of new. The benefits of this option are many: you get to buy a car at a cheaper rate and you do not have to suffer the initial 30% depreciation hit borne by buyers of new cars who intend to sell for starters.

But
buying older cars
 is not for everyone as with any decision there comes risk and complications that may arise. Are you ready to deal with them? We list for you the peculiarities of a secondhand car purchase that will do you well to consider.

You Need to Have the Resources On Hand for Fixes

Used cars have histories and more often than not – no matter how careful you were when purchasing – problems may arise with your car that will require a mechanic and some additional cost.

These fixes do not necessarily mean that your seller or used car dealer tricked you. It is the reality with any used item that the possibility of some damage or breakage may go undetected until further use brings it to the fore.

As a simple example, think about the selling of a secondhand lamp – the likelihood of you having to change the bulb sooner as compared to buying brand new is higher. The analogy applies across the board with secondhand items.

Even after a thorough check, be ready to find small problems within the first three months of using an older car. This however, should not deter you. If you’ve done the right checks before hand – the damages should be nominal and nothing altogether too unusual when dealing with automobiles.

It Will Be Advisable to Know a Little About Cars

Choosing the right secondhand car also entails a little car know-how. This means either researching or talking to people who are well-versed with the different cars and their hang-ups.

There are three good reasons for you to have this knowledge:

1)
Used cars often have flaws and defects
 that can be noticed by a quick look under the hood or paying attention to sounds and bumps during a test drive. Few people know how to gauge this and often rely on the mandatory questions of whether or not a car has been in an accident to decipher the condition of a car. But the best information is communicated not by the seller or dealer but by the car itself. Knowing cars to a certain extent will help you decide if the deal you are being offered is a lemon or not.

2)
For price negotiation
. Most cars have market values, which you can easily find online but there are subtle differences in price based on year of manufacture vs registration and overall condition of the car. The only way you will be able to negotiate a good price for your used car is if you know enough about the particular model and it’s issues.

3)
Manufacturing defects or recalls
. Some models of cars have had recalls or announcements about defective parts that call on owners to replace these parts or have the car given the once over by the manufacturer. If the previous owner did not do this or if your car has been sitting in a salesman’s yard during this announcement – it may have slipped the round-up. Though some of these flaws are merely annoying inconveniences; some can be life threatening such as in the case of faulty breaks. Scan the news for any previous notices on recalls by the particular manufacturer. Though this isn’t a common problem – it’s always better to be safe than sorry.

Be Ready to Bargain

It is usually not advisable to take a secondhand car on the price offered by the seller. Most dealers and private individuals open with their ideal price but that isn’t necessarily what the car is worth. It’s always important to do price point research and get ready to negotiate with the seller.

Sometimes, those who are desperate to sell will price a car at rock-bottom but such genuine deals are few. If a seller is desperate to sell; it’s equally important to find out why. If it is due to a defect on the car, it pays to know about this and negotiate further if you are still interested!

Secondhand car dealers need to make a profit and private individuals often do not have the know-how to fairly price their used cars. It does not always follow that a high price is a sign of a cheat. This merely puts the onus on the buyer to negotiate or walk away!

It’s Still Great to Buy Used

Despite the issues above – buying a used car can be an extremely rewarding endevour. The price of a used car can’t be beat and if you get the right one; the value is much more than buying new.

Though there is a little more hassle involved when choosing a secondhand car; it is an option that makes sense on many fronts for those who want a good car but cannot afford the inflated brand new price.

If you’re thinking of buying new or used – check out our
car loan comparison page
 for the best banks to approach for hire purchase financing. The next part in making your car affordable is of course in choosing the best loan for your money.

0

0

votes

Article Rating

SHARE

TAGS:

Automobiles

Buying A Car

Cars

Used Cars

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


Bank Negara: Significant Increase In Bank Deposits Since The Start Of MCO

(Image: SoyaCincau)

Statistics released by Bank Negara Malaysia (BNM) revealed that banks have seen a noticeable rise in money deposits since the start of the movement control order (MCO) in March 2020.

The central bank’s monthly data showed that savings by individuals in ordinary savings accounts (from commercial and Islamic banks) grew from RM163.66 billion in February to RM170.03 billion in March, increasing by RM6.37 billion. In April, the figure surged further by RM9.57 billion at RM179.6 billion.

According to a report by The Star, such large increases in the figures for savings accounts are unprecedented, although there have been spikes between December to January in previous years. It was also noted that the amount saved in April 2020 had increased 17% year-on-year, with the total in April 2019 standing at RM153.3 billion. This is recorded as the highest monthly year-on-year jump since January 2007.

While BNM did not provide any explanation for the sharp increase in savings deposits, it is possible to speculate that this is caused by a drop in consumer spending following shop closures during the MCO. Additionally, Malaysians may have been spurred into saving more due to the economic uncertainties after the MCO.

Meanwhile, the amount in fixed deposits by individuals has remained relatively consistent, with some fluctuations between February to April. BNM’s data indicated that the public withdrew a total of RM1.13 billion worth of fixed deposits in March, but subsequently replenished it with RM1.6 billion in April.

(Image: The Malaysian Reserve)

In light of the current challenging economic landscape, Malaysians are advised to be prudent in their expenses and to build cash reserves that can last them between six months to a year of their usual monthly expenditures. You may also need to take into consideration certain scenarios, especially with the ending of the six-month loan moratorium in September.

(Source:
The Star
,
Bank Negara Malaysia
)

3.6

7

votes

Article Rating

SHARE

TAGS:

Bank Negara Malaysia

BNM

Fixed Deposits

MCO

Movement Control Order

Savings

Savings Accounts

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


An Extra Rewarding Trip At Shell With BonusLink

When we think about our monthly spending, we frequently find ourselves striving to make better financial decisions in order to better manage our money. We persuade ourselves that the only way to save money is to limit unnecessary purchases such as cutting down on meal deliveries and impulsive buys. Our needs, like food, rent, and petrol take up a big chunk of our hard-earned money and because it’s a necessity, there is not much room for compromise and flexibility.

Before e-wallets became prevalent, reward programs and couponing were common practices that helped people save money. One such reward program that is familiar to many Malaysians is BonusLink. Available at Shell and a number of other outlets, BonusLink’s signature blue card gives members the opportunity to redeem a wide range of enjoyable gifts for themselves and their loved ones.

If you want to learn how you could make refuelling your vehicle and spending at Shell a more rewarding and wallet-friendly experience, read on.

Transact And Collect Points To Redeem
 Shell Vouchers

Collecting points with BonusLink gives you the opportunity to redeem a variety of items, one of which is Shell cash vouchers. As the voucher entitles users to a discount, it is indeed a great saving solution that helps to save money.

From now until 31 December 2021, 200 standard BonusLink Points accumulated within one (1) month will get you an RM5 Shell voucher. How does one collect 200 standard BonusLink Points in a month, you may wonder. You could refuel your car with 100L (25L per week) and treat your friends and family to 10 cups of Costa Coffee while going on a road trip with family. Alternatively, you could also purchase a bottle of Shell Advance lubricant and spend RM50 in-store at Shell Select.

Not Just From Purchasing Petrol, But Everything Shell Select Offers

That’s right – you could collect points with any purchase made at Shell from fuel, Shell Advance lubricants, Costa Coffee, Deli2go pastries, chips, toothpaste, phone chargers – you name it! And the good thing is Shell Select has a wide variety of products offered from necessities like motor essentials to non-essential items like kids’ toys. For every RM1 spent at Shell Select, users are entitled to 1 point.

So the next time you find yourself at Shell, just remember to tap your card when you make a transaction so your points are recorded.

It’s Easy, Convenient, And Accessible

There are approximately 950 Shell stations in Malaysia alone, so it’s very likely that you’ll come across a station each time you’re on the road. Not just that, collecting points has become much easier compared to a decade ago with the introduction of the BLINK app!

BLINK makes using BonusLink a painless experience that allows biometric login, reward transfer, cashless transactions, instant cashback, and more, all with just a one-step registration. Users will get to digitally access their virtual card, which means if you don’t have your physical card with you, all you need to do is flash your in-app virtual card. The app also allows users to be more aware of their spending with the ability to track daily transactions.

To get RM4 Shell voucher AND 100 BonusLink points, simply follow the following steps:

Download the BLINK app via Apple App Store or Google Play Store
Complete registration
Use the code:
B214419233

***

While we still need to prioritise spending on our needs, utilising methods that can lessen our monthly expenses could help in keeping us financially healthy. Part and parcel of maintaining a car is to keep it filled with petrol, whether we like it or not. However, collecting BonusLink points at Shell gives us the opportunity to spend less on refuelling through the redemption of Shell vouchers.

4

4

votes

Article Rating

SHARE

Learn more about Bonuslink rewards at Shell

Click Here

TAGS:

BLINK App

BonusLink

refuelling

Rewards Programmes

Shell

Shell Ekstra Ganjaran Setiap Hari

Shell Petrol

About THE AUTHOR

Lisa Ameera Azman

Lisa Ameera Azman

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


PEMERKASA: Program Jaringan Prihatin Subsidy And eBelia E-Wallet Credit Increased For Eligible Recipients

Prime Minister Tan Sri Muhyiddin Yassin has announced some revisions to the Program Jaringan Prihatin and eBelia programme under the new PEMERKASA stimulus package, allowing eligible individuals to enjoy higher subsidies for their telecommunications needs as well as e-wallet credit allowances.

Under the
original Program Jaringan Prihatin
 – which was revealed during the tabling of Budget 2021 – B40 individuals were entitled to receive a financial aid of RM180 for the purchase of new phones or telco credit. Now, it has been revised to offer a higher RM300 subsidy, and will be offered to households with school-going children.

Aside from that, the schedule for Program Jaringan Prihatin has also been slightly revised. Originally scheduled to begin this month (March 2021), it has now been postponed to May 2021 instead. With these revisions, the government is now allocating a total of RM2 billion for this programme – RM500 million more than the initial RM1.5 billion that was earmarked for it during Budget 2021.

Meanwhile, the eBelia programme has also been further expanded to offer RM150 worth of of e-wallet credit to youths aged between 18 to 20 years old, as well as students studying in institutions of higher learning. For context, the eBelia programme was also introduced during the tabling of Budget 2021, and initially allowed each youth to redeem a
one-off RM50 digital incentive in the form of e-wallet credits
. Subsequently, it was
increased to RM100
, before settling on its latest amount now.

With this, the allocation for eBelia programme will be increased from the original budget of RM75 million (when it was first introduced) to RM300 million, and is expected to benefit 2 million youths. The prime minister also said that they hope to kickstart the eBelia programme in June 2021.

0

0

votes

Article Rating

SHARE

TAGS:

Budget 2021

Cash Aid

E-Wallet Credit

eBelia Programme

One-Off Payments

PEMERKASA

Program Jaringan Prihatin

Subsidy

Tan Sri Muhyiddin Yassin

About THE AUTHOR

Alex Cheong Pui Yin

Alex Cheong Pui Yin

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

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


Handy Hand Gestures to Use When You're Broke

Let’s be honest: money is a
tricky subject to talk about
. That’s why we have a whole site devoted to explaining things and discussing money. It’s especially hard to talk about money when you don’t have enough of it with you.

We’ve all
been broke
 at least once before in our lives and it can be hard to communicate. Particularly when our friends or family invite us to do things we can’t exactly afford at the moment. So how do we solve this problem? One way to go about it is by using sign language. Here are some hand gestures you can use when you’re out of money but don’t want to say it out loud!

Money Hands

This one is obvious, isn’t it? You’ve seen this and made them yourself probably. Rubbing your thumb and forefinger together can mean some money is headed you way, you’re showing how impressed you are to another person at how rich a third person is, or to celebrate a healthy windfall. However, if you pair this gesture with a frown, your money troules should be clearly communicated.

Thinking / Praying

This one is often pulled out during serious discussions regarding money. Or when you’re trying to figure out the right combination of words to form a sentence that communicates how broke you are, without implying that you’re a loser who got yourself into this situation through poor money management. When used often and with enough sighing, your conversation partner will no doubt think, “Oh, this guy thinks over
every
 payment. Best not ask for any money.” Easy.

Tiny Pinch

When you’re broke, you can only afford just enough of something or just a little bit of it. Which is fine. You know where to go for
top tips on good financial habits
, so you’ll get back on your feet in no time. But on your way there, you use this gesture often. To ask for juuuust a little bit more. As in, more time to pay off something, more soup in the bowl, or more patience from your creditors as you get your finances back on track.

The “OK”

Wait a minute. You don’t have any money. Why would you ever have a reason to say you’re “OK”? Because answering in the affirmative to an expensive outing implies you’re going, and saying no would be quite rude. But OK doesn’t really mean either of those, does it? It just means okay. You’ll be okay. Just let your friends and loved ones have fun without you. You’ll be fine. Eventually.

Want to see these gestures in action? Check out our video below:

On a more serious note, whether you have problems with your
student loans
,
credit card debt
, or
personal loans
, we have the right information to help you out. Have anything to add to this article? Do share your thoughts and comments with us in the comments section down below!

0

0

votes

Article Rating

SHARE

TAGS:

Body Language

Financial Health

Hand Gestures

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


Govt To Incentivise EPF Self Contribution & i-Saraan Voluntary Contributions

In an effort to encourage Malaysians to save for their retirement, the Government has announced some incentives under Budget 2023, including increasing the self-contribution limit as well as tax reliefs.

As presented by Finance Minister Datuk Seri Tengku Zafrul Aziz, starting next year, the EPF self contribution limit will be increased from RM60,000 currently to RM100,000. In addition, EPF self contributions will also be eligible for tax relief, as they will be claimable under a newly-expanded scope for life insurance or takaful premiums up to RM3,000.

This incentive is likely made in the wake of EPF withdrawals to assist Malaysians during the pandemic and encourage members to replenish their EPF savings.

Aside from this, Budget 2023 also offered some incentives for the EPF i-Saraan voluntary contribution scheme, where the government will increase the contribution matching incentive from RM250 to RM300. This is expected to benefit over 100,000 members in the scheme.

Finally, the government also plans to extend and enhance the Kasih Suri Keluarga Malaysia programme for 2023. As part of Budget 2023, housewives who make EPF contributions of at least RM60 a year will get an additional matching incentive from the Government of up to RM600, which comprises of RM480 in EPF savings and RM120 in SOCSO contribution. This move will benefit 200,000 housewives.

4.6

5

votes

Article Rating

SHARE

TAGS:

EPF

EPF i-Saraan

EPF Self Contribution

EPF Voluntary Contribution

Kasih Suri Keluarga Malaysia

KWSP

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


Rakuten Trade Revamps Brokerage Fee Structure, Minimum Fee To Start From RM1

Digital equity broker Rakuten Trade said that it is revamping its brokerage fees for trades done in Malaysian ringgit (MYR), with the minimum rate to be reduced from RM7 to just RM1. Set to take effect starting from 17 April 2023, the new fee structure is applicable to all the markets that Rakuten Trade has access to, including Bursa Malaysia, the
New York Stock Exchange (NYSE) and NASDAQ
, as well as the
Hong Kong Exchange (HKEX)
.

In a statement, Rakuten Trade said that its fees will now range between a minimum of RM1 to a maximum of RM100 (unchanged) customers who conduct their trades in MYR. The new fee structure is as follows:

Alongside this development, Rakuten Trade is also making a slight update to its rewards programme, which was just
revamped in July 2022
. As of 17 April, investors will also be able to earn 1 Rakuten Trade (RT) Point for every RM1 spent on brokerage fees, in comparison to the existing earning rate of 1 RT Point for every RM2 spent.

With regard to the new pricing structure, chief executive officer of Rakuten Trade, Kazumasa Mise said that the move was made in a bid to stimulate retail participation and further democratise digital equity broking in Malaysia. This is also in line with Rakuten Trade’s mission to empower investors to build their wealth via portfolio diversification.

“In May 2017, Rakuten Trade successfully lowered the barriers to entry and soon, will be crossing another industry milestone of further lowering the barriers to trade. By making investing more affordable and providing opportunity to many more, digital investing will now be more accessible to investors keen to grow their wealth,” said Kazumasa.

Kazumasa also noted the increasing importance of retail investors to many brokers, especially as the number of retail investors continue to grow. “In the last 12 months, we have recorded a steady stream of account openings of almost 2,000 per month with trading strategies remained unchanged, relying on identical trigger points month on month. This tells us that retail investors are attracted to the convenience and accessibility of online trading platforms,” he stated.

Finally, Kazumasa revealed that Rakuten Trade investors can look forward to the introduction of a new fractional share trading feature for US stocks by the end of this month. This is another initiative taken by the digital broker to better support the needs of retail investors, adding to existing facilities such as the
foreign currency facility
, he said.

0

0

votes

Article Rating

SHARE

TAGS:

Brokerage Fees

Digital Brokers

Kazumasa Mise

Rakuten Trade

Rakuten Trade Fractional Share Trading

Rakuten Trade Points

Rakuten Trade Rewards Programme

Stock Market

Stock Trading

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


Too Much Mobile Data and No Idea How to Use Them? Try These...

With the increasing variety of mobile internet plans in Malaysia, you might just find yourself in a situation where you have more than you need.

So instead of letting your data go to waste, why not employ them to help you save money, or at the very least, make the most out of the data you have? Here are some cool ways to spend your data:

Switch To Video and Internet Voice Calls

Instead of spending money with your call plan or prepaid minutes, use caller apps like Skype or WhatsApp to make calls.
Hotlink
 for example, charges RM0.12 per 30 seconds for voice and video calls; and RM0.12 per SMS sent. You’ll be saving quite a bit if you use your mobile data to make Internet calls and texts instead.

<a href=”
https://ringgitplus.com/en/credit-card/?utm_source=ringgitplus&utm_medium=banner&utm_campaign=my-rpint-crcd-gen&utm_content=blogcta_crcd_bestcreditcardinmalaysia_ringgitplus_mid”title=”Compare
 credit card”>

If you have friends or relatives overseas, you’ll save even more money as local service providers charge hefty rates for international calls and text messages. For instance, if you want to connect with someone in Singapore,
Digi Postaid
 charges RM0.48 per minute for calls to mobile numbers, RM0.30 for SMS, and RM1.00 per minute for video calls. Using internet voice calls or video calls means you don’t have to pay these hefty fees.

Work Outside

If you are allowed to work outside the office, you might still be tethered to places that provide Wi-Fi like a coffee shop or restaurant.

If you have tons of data, you don’t have to rely on Wi-Fi, and can pretty much work from anywhere by connecting your computer to your mobile data service via bluetooth. You can also connect your computer to an
android smartphone
 or
iPhone
 with a USB cord after activating your mobile hotspot.

Enjoy Streaming and Game Apps

Watch movies and TV shows, play games or listen to music wherever you are. Having access to entertainment sites and apps can put a positive spin on tedious or mundane experiences.

Don’t hesitate to stream your favourite music playlists while stuck in a traffic jam or watch a funny YouTube clip while you queue at a fast-food restaurant. It’ll sure help make the minutes fly by.

Apps like iflix, Netflix, Spotify and Candy Crush Saga consume data rather quickly, thus it’s unlikely you’ll leave much of an unused data balance if you were to use these apps often.

The Obvious Solution

If you can’t seem to use up your monthly data allotment, perhaps it’s time you downgrade your services to a cheaper plan. Unless you’re under a contract, a more modest data plan will save you money every month, and all those excess data won’t go to waste.

Looking for a mobile data plan that fits your internet needs like a glove? Then head on over to our
comparison page
, so you can research and discover the perfect plan for your needs!

1

1

vote

Article Rating

SHARE

TAGS:

Internet Plans

Mobile Data Quota

About THE AUTHOR

Desiree Nair

Desiree Nair

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


Finance Minister: Government To Implement Short- And Medium-Term Economic Recovery Plan Soon

(Image: Malay Mail)

Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz has announced that the government will soon be carrying out a short- and medium-term economic recovery plan to revive the country’s economy.

The plan will encompass six aspects, namely:

Health guidelines and safe operating procedures in the new norm

Capacity building, hiring of workers, and job creation

Boosting consumer spending, particularly through digital avenues

Restructuring, recovery, and growth of small and medium enterprises (SMEs), especially through digital technology

Enhancing resilience and developing growth opportunities for medium and large-sized companies

Boosting investor confidence and generating short-term economic growth.

Tengku Zafrul also commented the government is confident in Malaysia’s ability to face the increasingly challenging global economy. “While the Malaysian economy is expected to record slower growth this year, economic growth for 2021, on the other hand, is projected to be better based on future global and domestic economic recovery measures,” he said in a statement.

Tengku Zafrul’s statement
 was released in conjunction with Bank Negara Malaysia’s (BNM) announcement of Malaysia’s gross domestic product (GDP) performance for the first quarter of 2020 (Q1). According to the central bank, Malaysia’s economic growth in Q1 has slowed to 0.7%, affected primarily by the Covid-19 pandemic.

(Image: Reuters)

Separately, senior minister of International Trade and Industry, Datuk Seri Mohamed Azmin Ali, said that the government will unveil the six-month short-term economic recovery plan by end of May 2020. It will be followed by a medium-term revitalisation plan under Budget 2021 in November 2020, and subsequently a long-term reform plan in the form of the 12th Malaysian Plan, scheduled to be revealed in January 2021.

Malaysia is already in the midst of implementing a
six-phase plan
 to aid Malaysia’s
economic recovery
. It is comprised of 6Rs, namely resolve, resilience, restart, recovery, revitalise, and reform. The country is currently in the restart phase. The resolve and resilience phase took place earlier when government enforced the movement control order (MCO) and announced the
Prihatin Economic Stimulus Package
, respectively.

(Sources:
Malay Mail
,
The Edge Markets
)

0

0

votes

Article Rating

SHARE

TAGS:

12th Malaysia Plan

Budget 2021

Covid-19 Economy

Covid-19 Recovery

Datuk Seri Mohamed Azmin Ali

Economic Recovery Plan

Ministry Of International Trade and Industry

Tengku Datuk Seri Zafrul Aziz

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


RinggitPlus is Celebrating its 5th Birthday!

RinggitPlus turns 5 this week! We’ve gone a long way since our start, and now we’re the largest financial comparison website in the whole of Malaysia! Of course, we couldn’t have done it without you, so we’d like to thank all of you for contributing to our continued success!

How Did RinggitPlus Start?

RinggitPlus was formed in 2012, when our co-founders met and found that they share the same passion in helping people make better informed financial decisions and get more for their money. At the time, banks and financial institutions were finding it hard to cope with the thousands of applications due to the lengthy pen-and-paper application process, much less help Malaysians choose the best credit card or loan to suit their financial needs.

To help bridge the gap between consumers and financial institutions, our team at RinggitPlus worked on ways to simplify the credit application journey by helping Malaysians compare and apply for the best financial products online.

Now, you no longer need to go through the hassle of filling in complicated paper forms and go through multiple websites to apply for financial products. All you need to do is go on RinggitPlus and we’ll help you compare, choose, and apply for your preferred credit card, loans, insurance plans, and even banking accounts with just a few clicks!

How Does RinggitPlus Help You Get More For Your Money?

RinggitPlus helps you find, compare, and apply for the available financial products in Malaysia – which includes credit card, personal loans, home loans, car loans, insurance, fixed deposit, banking accounts, as well as broadband plans.

Of course, we know that sometimes it can get hard to decide on the best financial product to fit your needs, which is why we offer you tips and insider’s take on how to get more for your money and all things financial through
RinggitPlus blog
.

Our team is dedicated to bringing you the freshest and most informative articles to help enhance and broaden your knowledge in personal finance. Besides, the more you know, the better you can manage your finances!

Join Our 5th Birthday Celebrations and Get Double Sign-up Gifts

We won’t be Malaysia’s largest financial website without your continuous support, so we’d like to treat you to a bonus gift on our 5th birthday! All you need to do is
apply for the participating banking and financial products
 and claim your bonus gift when it’s approved! Hurry! Offer only last until 5th October 2017!

0

0

votes

Article Rating

SHARE

TAGS:

Banking Accounts

Broadband Plans

Credit Cards

Financial Comparison Websites

Fixed Deposits

Insurance

Loans

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


Report: Card Payments Market Forecasted To Rebound By 8.5% In 2021

(Image: Bloomberg)

Data analytics company GlobalData said that Malaysia’s card payments market is set to rebound by 8.5% in 2021 after seeing a decline last year due to the Covid-19 pandemic.

According GlobalData’s Payment Cards Analytics report, Malaysia saw a 4.9% drop in the value of card payments back in 2020. This was attributed to the nationwide movement control order (MCO) that was implemented to combat the spread of the pandemic, which resulted in the closing of brick-and-mortar shops and reduced consumer spending.

Following the successful vaccination programme and improving economic conditions, however, card payments within the country is expected to grow again with the gradual rise in consumer spending. In fact, GlobalData estimates that the value of card payments will likely increase at a compound annual growth rate of 11.1% all the way through 2025, hitting RM322.7 billion.

“Malaysia made significant progress in the adoption of card payments in the past few years, supported by increasing banked population, rising consumer awareness of electronic payments, and increasing merchant acceptance. While the market was affected due to the Covid-19 pandemic in 2020, it is expected to rebound as consumers shift from cash to non-cash payments to avoid getting infected,” said the lead banking and payments analyst at GlobalData, Ravi Sharma.

GlobalData also noted that Malaysians had a preference for credit and charge cards due to their reward benefits, accounting for 66.5% of all card payments by value in 2021. Meanwhile, debit cards made up the remaining 33.5%.

The analytics company further shared that although there was a decline in overall card payments in 2020, debit card registered a growth of 13.6% because people were migrating from cash transactions to contactless debit card payments. Credit and charge cards, meanwhile, saw a decline of 11.2% as travel restrictions caused Malaysians to stop spending on expenses that are usually paid using these cards, including airline tickets, hotels, and restaurants.

(Image: Bernama)

Moving forward, GlobalData believes that the rise in contactless will be crucial in supporting card payments growth in the country. This is based on statistics provided by Bank Negara Malaysia (BNM), which indicated that contactless card transactions accounted for 50% of all card payments in 2020. This is up 33% in 2019.

“The Malaysian payments card market registered sustained growth in the last few years. Although the current Covid-19 crisis has hampered the growth trajectory, improving payment infrastructure, and rising demand for contactless and online payments will aid the payment cards market growth over the next few years,” said Sharma.

(Source:
GlobalData
)

0

0

votes

Article Rating

SHARE

TAGS:

Bank Negara Malaysia

BNM

Cashless Payments

Charge Cards

Contactless Payments

Credit Card Payment

Credit Cards

Debit Cards

GlobalData

Ravi Sharma

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


RON95 Petrol Retail Price Capped At RM2.08 Per Litre

The government is capping the retail price of RON95 petrol at RM2.08, which is a 12 sen decrease from the previous price cap of RM2.20. Finance Minister Lim Guan Eng stated that the petrol price will remain at the capped price even if the market sees an increase over RM2.08.

On top of that, Lim Guan Eng added that the weekly fuel price of RON95 will be lower than RM2.08 if the global oil price drops. The lowered capped price of RON95 petrol is an effort to ease the cost of living of the rakyat.

The price cap will be abolished in the middle of the year as soon as a targeted subsidy scheme for petroleum products is implemented.

The decision to cap the RON95 fuel price was made in a meeting with the Cabinet earlier this week after taking into consideration the upward pattern of crude oil prices in the global market.

Prime Minister Dr Mahathir Mohamad said that the government will be able to handle the extra cost of the fuel price and that it will not be necessary to recalibrate the Budget unless it drops to a certain point.

The retail price of RON95, RON97, and diesel will continue to be set weekly according to the Automatic Price Mechanism (APM) and
announced every Friday
.

(Source:
Free Malaysia Today
,
The Star
)

0

0

votes

Article Rating

SHARE

TAGS:

Fuel Subsidy

Petrol Price

Petrol Subsidy

RON95

About THE AUTHOR

Olivia Song

Olivia Song

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


Budget 2021: Financial Aid Increased For Vulnerable Groups, Perlindungan Tenang Vouchers Provided For B40

Finance Minister Tengku Zafrul Abdul Aziz has announced that the government will increase the monthly rate of financial assistance for vulnerable groups, such as the disabled and chronically ill patients. With this, it is hoped that their welfare will be better safeguarded and enhanced.

Here’s a summary of the new monthly rate of financial assistance to be provided for each vulnerable group under Budget 2021, in comparison to its existing rate:

Vulnerable groups

Existing monthly financial aid/incentive allowance

New monthly financial aid/incentive allowance

Disabled persons (OKU) incapable of work

RM250

RM300

– Senior citizens

– Chronically ill patients

– Caretakers of bed-ridden OKU

RM350

RM500

Disabled (OKU) workers

RM400

RM450

– Children

RM100 per child

*maximum RM450 per family

– RM200 per child (6 years old and below)

– RM150 per child (7 to 18 years old)

*maximum RM1,000 per family

This increase involves an provision of RM2.2 billion, and will benefit more than 400,000 beneficiaries.

Apart from that, the government will also introduce the Perlindungan Tenang Voucher Programme to provide better social protection for the B40 group. All B40 aid recipients will be entitled to an RM50 voucher to purchase products from Perlindungan Tenang,
a basic insurance and takaful scheme
 aimed at increasing the insured population in Malaysia.

On top of that, the government will also extend the stamp duty exemption period on all Perlindungan Tenang products with an annual premium or contribution value not exceeding RM100 until 2025.

3

1

vote

Article Rating

SHARE

TAGS:

B40

B40 Households

Monthly Financial Aids For The Vulnerable

Perlindungan Tenang

Perlindungan Tenang Voucher Programme

Tengku Zafrul Abdul Aziz

Vulnerable Groups

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


Work, Play Or Game – Experience Uninterrupted Productivity With Lenovo

Imagine yourself being in a continuous state of productivity; where you immerse yourself in the flow of your work, convinced that nothing else can stop you now. That is, until your laptop stops working, your Microsoft Word’s license expires, and you can’t continue your work any further. We understand how frustrating it can be when our creative process gets interrupted.

But Lenovo takes this frustration to mind, and addresses it with its Premium Care service, its offering of lifetime-access pre-installed Microsoft Office essentials, and its smart Lenovo Vantage application. In this article, we explore how Lenovo is working to provide you the premium experience of uninterrupted productivity with the three aforementioned features that not only working professionals can appreciate, but students and individuals too.

Lenovo Premium Care – Your Personal IT Specialist

Speedy Solutions From Real Experts, In The Comfort Of Your Home

Lenovo understands that waiting is not everyone’s favourite pastime, and that over-the-phone or email-based support systems can get frustrating sometimes, especially for working professionals whose time is precious. That is why
Lenovo Premium Care
* was formed with a team of real experts to assist you in real-time with your device’s problem 24/7.

Besides offering a hassle-free solution for all technical needs, Premium Care lets you get on with your work, just as soon as it can – on first contact. And if your problem persists, the Lenovo Premium Care team will schedule an onsite visit to personally assist you. What’s more, Premium Care subscribers will also receive a free annual PC Health Check, a preemptive effort from our experts to help you avoid PC problems – especially in times when you need it the most.

While Lenovo does provide Standard Support with every device purchased, Lenovo Premium Care is an optional upgrade “care package” specially curated to provide you prioritised assistance and faster solutions, making it a reliable “personal IT specialist” you can depend on for anything – anytime, anywhere.

To summarise, here’s how the Premium Care experience differs from the Standard Support care:

*Premium Care is not available with Lenovo’s commercial products (products bearing the name “Think”), tablets, monitors and accessories

Lenovo Premium Care is available as an add-on service that you can opt for upon checkout at
www.lenovo.com.my
. If you decide to purchase a Lenovo device in a physical store, you can simply request to include it with your in-store purchase.

Meanwhile, if you already own a Lenovo device, you may visit the Lenovo website and check Lenovo’s Warranty Lookup option to subscribe to Lenovo Premium Care. Alternatively, you can also purchase the Lenovo Premium Care add-on through Lenovo’s hassle-free WhatsApp Tech Support for faster and easier service.

All you have to do is scan the QR code below, enter your device’s serial number, choose Premium Care and that’s it. It’s that simple.

No hassle, scan-to-contact Lenovo Malaysia’s Tech Support to subscribe to Lenovo Premium Care

Pre-Installed Microsoft Office Home & Student 2019

Lifetime Access Worth RM529

Lenovo’s premium laptops – IdeaPad S540, Yoga S940 & Legion Y545

Selected Lenovo devices come pre-installed with genuine Microsoft Office Home & Student 2019 with lifetime validity. This means that you’ll have access to the three most essential Microsoft programmes; Office Word, Excel and PowerPoint – often used for work, school or personal ventures.

And the best part? These Microsoft Office essentials that would usually cost RM529, come for free with selected Lenovo devices. Do note that these are not trial versions, but full-versions with lifetime access so you can continuously enjoy their full functionalities – allowing you to get more value and do more with your Lenovo device.

Do more with Lenovo’s pre-installed Microsoft Office Home & Student 2019

Lenovo Vantage

All-In-One Access to Personify & Optimise Your Laptop’s Performance

What’s your laptop’s model number? Can you provide us the serial number?

If you still find yourself scrambling and turning your laptop upside down looking for these details, wouldn’t it be nice if you can find them all in one place, with just one click?

That is what Lenovo Vantage is designed for. Just as its name suggests, the Lenovo Vantage app that comes pre-installed in Lenovo devices works as the “look-out point” – a place where you can easily view all the technical details of your device. But most importantly, Lenovo Vantage also allows you to conveniently control all of your device’s settings from a single access point to help you get the most out of your device.

Get the most out of your device with Lenovo Vantage

Here are some of the features that you can use with Lenovo Vantage:

Manage your hardware settings, which eventually optimises your device’s battery life

Update your device’s system, either manually or set it to update automatically

Automatically adjust your audio and display settings based on your preferences with the Smart Setting feature

Lenovo Security Console adds extra protection to your cloud applications, and more!

Lenovo Vantage offers you the convenience and simplicity of access and control, allowing you to focus on what you do best, and leaving all the hassle to Lenovo Vantage to manage.

Lenovo lets you focus on what matters to you

In the fast-paced world that we live in today,
Lenovo Premium Care
 and its pre-installed software are designed for productivity, allowing you to move along with the flow with less interruption. No matter if it’s for work, school or play – Lenovo lets you achieve the best by optimising its features for you. For more information about Lenovo’s range of laptops and Lenovo Premium Care, visit
www.lenovo.com.my
.

4

6

votes

Article Rating

SHARE

TAGS:

IdeaPad S540

Laptops

Legion Y545

Lenovo

Yoga S940

About THE AUTHOR

Sharon Bentley

Sharon Bentley

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


CIMB Offers Flexi Payment Plan At 0% Interest For Selected Credit Cards

CIMB Bank is currently offering a 0% Flexi Payment Plan promotion, allowing selected credit cardholders to convert all or part of their eligible retail transactions into a 12-month instalment plan at an interest rate of 0%. Already ongoing, the campaign is slated to run until 30 September 2021.

Open to only selected CIMB cardholders, you must hold one of the following cards listed below:

CIMB Enrich World Elite
CIMB Preferred Visa Infinite
CIMB World Mastercard
CIMB Visa Signature
CIMB Petronas Platinum
CIMB Cash Rebate Mastercard
CIMB e Credit Card

The promotion is only applicable for single transactions with a minimum spend of RM500 or more, in one of the four qualifying spend categories: online purchases, health, medical, and education. Other payments, such as quasi cash transactions, instalment amounts, cash advances, and service charges do not count.

If you are eligible for the promotion, the bank will then send you an SMS to invite you to convert your qualifying transaction into a flexi payment plan. Simply respond to the SMS, after which the bank will inform you of the flexi payment total, tenure, and monthly instalment amount via another SMS once your application is approved.

Note that each cardholder is allowed to apply for more than one Flexi Payment Plan, subject to their available credit limit. That said, CIMB has allocated a total of RM50 million for the entire campaign; the promotion will cease once the maximum cap has been reached.

Do be aware as well that late payments will be charged an interest of 1% on the outstanding balance of the flexi payment plan monthly instalments (subject to a minimum of RM10 and a maximum of RM100). As such, make sure to always be prompt with your payments!

CIMB’s Flexi Payment Plan is normally offered for three tenures (6, 12, or 24 months). The interest rate is fixed at 9.88% p.a..

(Source:
CIMB
)

5

2

votes

Article Rating

SHARE

Not yet a CIMB credit cardholder?

Apply now!

TAGS:

0% Instalment Plans

CIMB

CIMB Bank

CIMB Cash Rebate Platinum Mastercard

CIMB e Credit Card

CIMB Enrich World Elite

CIMB Flexi Payment Plan

CIMB Petronas Platinum

CIMB Preferred Visa Infinite

CIMB Visa Signature

CIMB World Mastercard

Credit Card Instalments

Easy Payment Plans

EPP

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


Why You Should Invest In A Critical Illness Plan

Our hectic lifestyles today are a far cry from what they used to be when things moved at a slower pace. Today, we’re constantly inundated with work alerts, instant messages, and even shopping discounts on our digital devices. What’s worse, working from home means we spend even more time in front of a computer screen. This sedentary lifestyle, combined with unhealthy dietary habits such as consuming processed foods regularly, could leave us susceptible to long-term health risks.

The rise in medical costs may have prompted you to purchase medical insurance, but did you know that you can complement your health insurance portfolio with a critical illness (CI) plan that provides you with coverage a medical card does not?

While it is always important to make an effort to improve our lifestyle, it is also worth looking at a back-up plan should such health emergencies arise. Critical illness insurance provides additional coverage if you are diagnosed with one of many critical illnesses such as heart attack, stroke, or cancer. Besides that, there are a number of advantages that make critical illness insurance worth getting.

1) Financial Support For More Than Just Medical Costs

There are two common misconceptions about CI insurance. One is that it covers hospital bills like medical insurance. The other is that it is expensive.

In reality, critical illness insurance provides a lump sum payout of the sum insured after you are diagnosed with a critical illness. This is different from medical insurance, which only covers medical costs – with a critical illness plan, the payout goes directly to you, providing not just medical treatment protection but also income protection.

This is an important point to distinguish, because while your existing medical insurance can cover your treatment costs, many critical illnesses can render you unable to work and thus affect you and your family’s livelihood. With a critical illness plan, the payout will ease any worries about providing for your family so you can focus on recovery.

2) Affordable Premiums For Financial Protection

As mentioned earlier, another misconception people have about critical illness insurance is that it is a costly insurance plan. But compared to other insurance plans, the cost of critical illness insurance is relatively affordable for healthy working adults. The premiums you pay also depend on factors like the amount of critical illnesses covered, and if the plan covers early diagnosis payout.

Critical illness plans can go as low as RM16 a month (for the highest coverage of RM250,000), which easily debunks the myth that it is expensive. Moreover, you can select your coverage to suit your requirements and pay for the protection you need.

On a similar note, if you have a family history of any critical illness, a critical illness plan is a useful tool to hedge against the higher possibility of being diagnosed with one. Remember, the cost of critical illness treatment is substantial and can go up to the hundreds of thousands of Ringgit. Moreover, the road to recovery can take years, wiping out the chances of earning income during that period – so in the long run, a critical illness plan would be a more affordable option.

3) Coverage Focused On Critical Illnesses

In 2016, the Ministry of Health estimated that
one out of every four Malaysians
 will suffer from cancer by the age of 75, and expected the figure to increase year on year. This, combined with the longer expected life expectancy of Malaysians, means that it is imperative that we have a comprehensive health insurance portfolio that will ensure we can get the medical treatment we need and provide income protection if we are unable to work for extended periods.

Therefore, even though you may already have a medical insurance plan, it is highly recommended to consider getting extra protection with a plan that’s focused on critical illnesses.

Introducing The AXA eCritical Early Care

With the growing demand for fully online insurance products, AXA Affin has launched its new AXA eCritical Early Care critical illness insurance plan. It is a fully online CI plan that does not require medical check-ups, and is designed to be one of the most competitively priced CI plans in the market.

Available to Malaysians aged from 15 days to 60 years, the standout feature of the AXA eCritical Early Care CI plan is its affordability: this plan offers protection from just 53 sen per day (RM16 per month), with a maximum of RM250,000 sum assured.

Besides that, this plan also offers payouts for early diagnosis – which is usually available only on more expensive CI plans. This plan offers a 50% payout of the total sum assured for early diagnosis, which applies to most of the 50 critical illness conditions covered under this plan.

AXA eCritical Early Care is one of the first online CI plans that covers 50 Early and Advanced stage critical illness conditions.

Find out more about the AXA eCritical Early Care
here.

3

2

votes

Article Rating

SHARE

Learn more about AXA eCritical Early Care!

Click here

TAGS:

Affordable Premiums

AXA

AXA eCritical Early Care

Critical Illness

Critical Illness Insurance

Insurance

About THE AUTHOR

Chee Jo-Ey

Chee Jo-Ey

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


MAS Launches MHflypass With Promotional Price Starting From RM499

Malaysia Airlines (MAS) has introduced the MHflypass, a new flight pass that provides passengers with flight coupons to selected domestic destinations at a fixed price. Offered exclusively to Enrich members, it is intended to give them full flexibility, convenience, and control over their spending for the flights.

The MHflypass comes with six flight coupons to various destinations within Malaysia throughout a one-year period, beginning from the purchase date. You have the option of redeeming the coupons as three return flights or six one-way flights. The flight pass is priced starting from RM699, but early birds who purchase it between today until 2 May 2021 are entitled to a promotional price with RM200 discount, for all-year-round travel dates in 2021 and beyond. You will also receive 50% bonus Enrich Points (up to 800 bonus Enrich Points).

Specifically, there are three options that you can choose from when purchasing the MHflypass, offered based on the traveller’s destination origin and their travel needs:

MHflypass options

Flight courses

Prices

Zone 1

– From Peninsular Malaysia destinations to Kuala Lumpur

– Between destinations within Sabah and Sarawak

RM699

(Early bird promo: RM499)

Zone 2

– From destinations in Sabah and Sarawak to Kuala Lumpur

– Between destinations within Peninsular Malaysia, with a connection through Kuala Lumpur

RM1,399

(Early bird promo: RM1,199)

Zone 3

– From Sabah and Sarawak to Peninsular Malaysia destinations, with a connection in Kuala Lumpur

RM1,599

(Early bird promo: RM1,399)

Aside from the three MHFlypass options, there is actually also a MASwings Flypass, which is priced at RM699 (early bird promo: RM499). It covers destinations within Borneo, including Lahad Datu, Kuching, Bintulu, Labuan, and Sibu.

MAS stated that the MHFlypass flights can be redeemed throughout the year subject to availability, with no blackout dates during peak periods. This means you will not need to worry about travelling during festive seasons or other holiday periods.

Additionally, you can enjoy privileges such as priority check-in, boarding, and priority baggage handling. This is on top of benefits such as 35kg check-in luggage allowance (in addition to 7kg cabin baggage), complimentary meals and snacks, and unlimited flight changes at no cost to suit your travel itinerary.

Do also note that the flights redeemed through the MHflypass will be subjected to government taxes and fees, add-ons, and other applicable charges. Moreover, it can only be redeemed on the MAS platform by logging in into your Enrich account, and not via the Call Centre, ticket offices, travel agents, or any other ground channels.

You can head on over to MAS’ website to find out more about the
new MHflypass
.

(Source:
Malaysia Airlines
)

0

0

votes

Article Rating

SHARE

TAGS:

Malaysia Airlines

MAS

MAS Enrich Points

MAS MHflypass

MASwings

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


The Basics of a Personal Loan Explained

Not having enough money to spend is a feeling most of us are familiar with and many are probably quite used to this reality. But what happens when emergencies arise and you truly are strapped? Personal loans offer fast cash solutions to help you fund your plans in the short term.

They do however come in an assortment of versions which can be perplexing if you haven’t applied for one before, so here’s an introduction to help you understand what
personal loans
 are and the different types available in Malaysia.

What is a Personal Loan?

You can think of a personal loan as a method of financing that has the following features:

1) Shorter repayment tenure than other loans, typically 1 to 10 years;

2) on average loans out lesser money than a mortgage but with higher interest;

3) can be used to fund anything as it is in cash form, unlike a credit card.

Personal loans are attractively advertised as a viable way to plug cash flow leaks. Although, interest rates of 10-13% are the norm; you could get a lower rate depending on the risk factors connected to your application. Credit history of the borrower, loan amount, loan tenure as well as the industry the borrower works in will be considered when calculating the interest rate to offer.

Many institutions now offer personal loans to
low-income individuals (albeit at much higher interest rates)
, special rates for
GLC or government employees
 as well as
ultra-quick approvals
.

Note that you may apply for loans as little as RM1, 000 to as much RM150, 000 depending on the lender and your individual eligibility criteria.

Why Would You Need a Personal Loan?

This is probably the best part about personal loans – you can use it to finance personal need, which can be just about anything; a dream vacation, a designer bag or a lavish present. Sounds exciting, but a loan is four-letter word for a reason: many people find themselves in serious financial trouble because they did not fully understand the responsibility of repayment.

Consider carefully before taking on a personal loan. Do you really need it? If you can wait it out and save up, it probably isn’t the best idea to get a personal loan this time, but in case of emergencies, it may be a practical avenue for financial assistance. Personal loans are useful for bills and emergencies where a credit card just won’t cut it but be serious about repayment to avoid any untoward credit black mark.

Types of Personal Loans

As technical classifications for personal loans go, there are conventional secured loans, quick unsecured loans and consolidation loans. Here’s the low-down on each:

Secured personal loans

Secured personal loans
 are given out with collateral support, such as a fixed deposit or unit trust account in the same bank. It may also require a guarantor to be liable for your loan. These loans are less risky from the financier’s perspective and if you qualify will usually carry a lower interest rate than that of unsecured loans. It may also facilitate more substantial loan amounts.

It’s important to note that with secured loans, you do run the risk of losing the asset you’ve placed on collateral if unable to make repayments due to death or disability. A great add-on to your personal loan is an insurance scheme to protect the loan and the assets in question with the majority of lenders already making this a compulsory feature.

Unsecured loans

An unsecured loan requires no collateral or guarantor to support the loan and are the most common type of personal loan in the market. Of course, they come attached with higher interest rates than secured loans.

Approval and disbursement of these loans can be as quick as within the hour but the faster it is, the more you pay via high interest rates. Because unsecured loans are much riskier for the financier, approvals lean strongly on the eligibility of the applicant;considering his credit history, employment and income.

Consolidation loans

This type of personal loan helps you combine your debt (mostly from credit cards) and pay it off at once with funds obtained from a personal loan. Why would you want to take one loan to pay off another? Sounds counter-intuitive, but if done correctly you can more effectively pay down debt and free up cash flow for use to prevent the vicious cycle of borrowing to make ends meet.

Consolidation loans also often offer somewhat lower rates than the credit card’s 18% but remember that personal loans function on a fixed scale whereas credit cards work on a reducing balance.

Personal loans also come with a one-time fee usually accompanied by stamp duties and other bank charges, so do consider these as well to see if you really are coming out on top by consolidating your debt after these deductions.

Should You Take a Personal Loan?

A personal loan is a real helpful tool to bolster your finances – and as the boatloads of ads for personal loans will tell you, it finances your dreams. But dreams can quickly turn to financial nightmares if you aren’t ready to make the repayments.

To decide if you should take a personal loan; consider these questions:

1) Is cash the best method to help you in your particular situation or will a credit card suffice?

2) How much do you intend to borrow?

3) Can you comfortably repay the monthly instalments?

4) Is the amount of interest paid justified via the utility of the loan’s use (that is, is it worth it)?

If however, you really do need the funds and you expect with great certainty (as much as is possible) that you’ll have the income to pay it off, then you should consider it one of the possible paths toward personal financing. Word to wise: personal loans may look the same in form but may not all feature the same specifics. Do shop around to get the best possible deal for you. You could trawl multiple bank pages, or you could, you know… check out our
personal loan comparator
.

0

0

votes

Article Rating

SHARE

TAGS:

Personal Loans

Secured Loan

Unsecured Loan

About THE AUTHOR

Desiree Nair

Desiree Nair

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


HLB Customers To Receive Card Notifications Via Connect App Instead Of SMS

Hong Leong Bank (HLB) has announced that as of 20 August 2022, customers who have installed the HLB Connect app will receive notifications for their HLB credit and debit cards via the app instead of SMS.

In its announcement, the bank shared that no sign-up process is necessary; all customers who have registered for the HLB Connect app will be automatically opted-in to receive notifications via the app. That said, you
can
 change this setting If you prefer to receive your notifications via SMS – just make your request by calling HLB’s contact centre at 03-7626 8899.

Otherwise, HLB customers who receive notifications through the HLB Connect app can retrieve their messages by tapping on the Bell icon located at the top left corner of the app’s homepage when they fire it up. You can also look at previous messages if you tap on the Transaction tab.

Meanwhile, HLB customers who are not users of the HLB Connect app will continue to receive their notifications through SMS, as per usual. Aside from that, HLB also stated that email notifications will be fully discontinued for all customers. Those who are currently relying on emails for their card notifications will start getting these messages either via the HLB Connect app or SMS instead.

Finally, do note that this revision applies only to notifications regarding your debit and credit cards. You will continue to receive one-time passwords (OTPs) via SMS when you make any online transactions.

(Source:
Hong Leong Bank
)

0

0

votes

Article Rating

SHARE

TAGS:

HLB

HLB Card Notifications

HLB Connect

HLB Connect App

Hong Leong

Hong Leong Bank

Hong Leong Connect

Mobile Banking

Mobile Banking App

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 Departure Levy May Be Implemented From September

(Image:
Bernama
)

The government plans to implement the departure levy for air travellers going out of the country in September, with discussion on model rates still ongoing.

Deputy Finance Minister Datuk Amiruddin Hamzah said the government is in discussion with key industry players on the departure levy rates, which will be segmented according to the travellers’ destinations and will be further tiered into seat classes.

According to The Edge, passengers departing to Asean countries in economy class will be charged RM8 while business class and first class passengers will be charged RM20. Meanwhile, passengers departing to non-Asean destinations in economy class will pay RM50 while those flying in business class and first class will pay RM150. It’s a big change from the original proposed rates in April, which were RM20 for travellers flying to Asean countries and RM40 for travellers flying to non-Asean countries.

Besides that, the government plans to allow levy exemptions for infants below 24 months, transit passengers arriving and leaving Malaysia within 24 hours, crew on duty, pilgrimage travel, government agencies, and those who buy their tickets before the implementation of the Act.

The Cabinet
passed The Departure Levy act in April
, which was
initially proposed in Budget 2019
 with an aim to encourage domestic tourism. It was originally meant to be enforced from 1 June, but was postponed.

(Source: The Edge Markets (
1
), (
2
))

0

0

votes

Article Rating

SHARE

TAGS:

Departure Levy

Government News

Ministry of Finance

About THE AUTHOR

Hayatun Razak

Hayatun Razak

See all articles

Comments

 (0)

Subscribe

Notify of

new follow-up comments

new replies to my comments

Label

Name

Email

Δ

Label

Name

Email

Δ

0
 Comments

 Inline Feedbacks

View all comments


Malaysia Airlines Travel Fair Is Back For 2023, With Tickets Starting From RM99

Malaysia Airlines (MAS) is back with its popular Malaysia Airlines Travel Fair (MATF), this time offering up to 45% discount for flights to selected domestic and overseas destinations. With tickets starting from as low as RM99 (all-in, one-way), travellers can also tap into additional perks, namely 15% off for add-ons and 50% bonus Enrich Points for every ticket purchase.

With the fair already ongoing and set to run until 8 March 2023, you can purchase tickets to travel between today until 30 November 2023. Depending on your preference, you may choose from two flight options: Economy Lite and Business Class. Here’s the full list of domestic and overseas destinations that are offered via this round of MATF:

MAS specifically noted that the 45% discount offer is applicable to all MAS operating flights to destinations other than Brisbane, Doha, and China. Do also be aware that the fares are subject to seat availability, and may vary according to flight origin, destination, and travel period.

Meanwhile, the 15% discount for add-ons will be applicable when you opt to add on features such as seat selection and extra baggage. It is also valid for purchases like Golden Lounge access, as well as the value and premium bundles (bundles offering combinations of add-ons). On top of these savings, the MATF will also reward you with 50% bonus Enrich Points upon booking your flight.

If you’ve been thinking about travelling or making holiday plans, go ahead and check out
Malaysia Airlines’ offers on its MATF page here
. Alternatively, you can also tap into the
ongoing Enrich bank conversion campaign
, a separate promo that lets you convert your credit card points from participating banks to Enrich Points with 10% bonus points.

(Source:
Malaysia Airlines
)

5

1

vote

Article Rating

SHARE

TAGS:

Enrich

Enrich Points

Malaysia Airlines

Malaysia Airlines Add-Ons

Malaysia Airlines Travel Fair

MATF

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


MOT Can Suspend, Revoke E-Hailing Operators’ Licences For Overcharging Passengers

(Image: The Star/Azman Ghani)

Transport Minister Datuk Seri Dr Wee Ka Siong has warned e-hailing operators that the Ministry of Transport (MOT) can suspend or revoke their licences if they violate the surcharge amount that has been agreed upon. This came following claims that e-hailing fares have soared during peak hours.

The e-hailing fare is made up of two applicable charges: the base fare and surcharge. While the government does not regulate the base fare, Dr Wee highlighted that operators are only permitted to charge a surcharge of up to 200% of the base fare (taking into account peak rates and fuel prices).

“Regarding the base fare, the e-hailing operators are charging between 70 sen and 90 sen per kilometre. They are also given the flexibility to impose surcharges according to the rule, based on demands and dynamic pricing,” Dr Wee stated.

(Image: The Star)

Aside from that, Dr Wee also warned e-hailing operators to stop pressuring the government with various demands and requests, or the MOT will be forced to regulate the e-hailing industry. “Don’t force me, one day I might have to regulate (the e-hailing industry). I don’t want to go to the extent of disturbing the gig economy; that is why we need to do this harmoniously,” he added.

Dr Wee’s statement was in response to demands by some e-hailing operators, who called for the government to do away with the passenger service vehicle (PSV) licensing for e-hailing drivers. “Those wanting to work as an e-hailing driver are required to get the PSV…it is a clear policy,” he said, adding that the MOT has already eased the recruitment process for e-hailing operators by allowing them to conduct the PSV training at their own companies.

Finally, Dr Wee urged e-hailing passengers who have been charged four times higher than the normal fares to file a formal report with the MOT. He stressed that his ministry will take action against the e-hailing operators if the reports are proven to be true, adding that his ministry is not siding with the operators, as alleged by some parties.

(Image: New Straits Times)

To note, the
MOT and the Land Public Transport Agency (APAD) had recently met with e-hailing operators to identify the cause of the fare hikes
. It was said that driver shortage, as well as a higher traffic volume were the main reasons.

Meanwhile, one of the nation’s biggest e-hailing operators, Grab Malaysia, has stepped forward to reassure customers that it has not changed its fare structure. It also attributed the fare hikes to the supply-and-demand imbalance and higher traffic volume since the country began transitioning to the endemic phase. It added that it is taking several initiatives to address the surge in fares, including offering incentives to both new and existing drivers in its bid to onboard more drivers.

(Sources:
Malay Mail
,
New Straits Times
)

0

0

votes

Article Rating

SHARE

TAGS:

APAD

Datuk Seri Dr Wee Ka Siong

E-hailing

E-Hailing Drivers

E-Hailing Fares

E-Hailing Operators

E-hailing Regulations

Grab

Land Public Transport Agency

Ministry of Transport

About THE AUTHOR

Nur Adilah Ramli

Nur Adilah Ramli

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

    Michael

    1 year ago

Wee can suspend but after that, there will be lots of people losing their livehood

0

Reply


September 2021 Unemployment Rate Declines Further To 4.5%

KUALA LUMPUR, MALAYSIA – FEBRUARY 22, 2020 : A crowd of people at Bukit Bintang or Star Hill, a tourist attraction place for shopping, eat and sightseeing.

The latest labour report by the Department of Statistics Malaysia (DOSM) indicated that Malaysia’s unemployment rate has continued to ease, from 4.6% in August 2021 to 4.5% in September 2021. This translates to a total of 729,600 unemployed persons in September, down from August’s number of 748,800 unemployed individuals.

Chief statistician Datuk Seri Dr Mohd Uzir Mahidin said that this improvement in the labour force situation is due to the gradual reopening of the country’s economy. “The transition of more states into the next phases of National Recovery Plan (PPN) has allowed more business activities to resume while business hours have been extended. In addition, the permission of inter-states travelling in the Klang Valley area coupled with the reopening of domestic tourism industries in Terengganu and Langkawi also fostered more economic activities during the month,” he said in a statement.

DOSM’s report also noted that actively unemployed individuals make up 83.7% of the total unemployed persons in September 2021, lessening by 2.6% from August. This is equivalent to 611,000 persons, in comparison to 627,500 individuals in August. Actively unemployed individuals are described as those who are out of job, but are actively seeking for work.

Meanwhile, the number of employed individuals continued to increase by 0.6% month-on-month, registering 15.46 million people, as compared to the previous month’s figure of 15.38 million persons. The employee category – which makes up a big chunk of the employed individuals group – encompassed 77.1% of it, improving by 0.2% to 11.93 million persons from the previous month. The own-account workers category, too, increased by 1.4% to 2.57 million persons in September.

Aside from sharing monthly updates, the DOSM report also provided details on Malaysia’s labour force for the third quarter of 2021 (3Q21). It noted that the number of labour force has increased by 0.3% quarter-on-quarter to 16.02 million persons, in comparison with 15.97 million persons in the second quarter of 2021 (2Q21). Additionally, the number of employed persons rose by 0.4%, whereas the unemployment rate dipped from 4.8% in 2Q21 to 4.7% in 3Q21.

Moving forward, Datuk Seri Uzir said that Malaysia’s unemployment rate should continue to improve. “The continuous dynamic economy activities will accelerate the recovery process of the business and subsequently attribute to the increase in labour demand, resulting in the creation of more job opportunities. The country’s economy is most likely to pick up in the upcoming months, indicated by better performance of the leading index,” he said.

(Source: DOSM [
1
,
2
])

0

0

votes

Article Rating

SHARE

TAGS:

Datuk Seri Dr Mohd Uzir Mahidin

Department of Statistics Malaysia

DOSM

Malaysia Unemployment Rate

Unemployment

Unemployment Rate

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


Year Long Tai Thong Savings With Hong Leong Credit Card

Who doesn’t love big discounts especially the ones that seem to last forever? From now till 31 December 2013 receive a 20% discount when you dine at any Tai Thong Group restaurant with your Hong Leong credit card or debit card.

This discount is valid for any Hong Leong or former EON bank credit or debit card. Promotions and other discounts are exempted from this offer.

Click
here
 for a full list of participating restaurants.

0

0

votes

Article Rating

SHARE

About THE AUTHOR

Brendon Lee

Brendon Lee

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