Manage Your Logistics Needs With TheLorry For Business (T4B)

Small and medium enterprises, also known as SMEs, have always been a vital part of Malaysia’s economic transformation process, as these businesses assist with growth, employment, and income generation, especially in the recent decade.

According to the
Malaysia Statistical Business Register (MSBR)
 in 2020, small and mid-size enterprises (SMEs) make up 97.2% of total business establishments in Malaysia. This number has continued to grow by 4.9% on average since 2015. Moreover, SMEs contributed
RM512.8 billion to Malaysia’s Gross Domestic Product (GDP) in 2020
 and that number is expected to rise.

In this period of the
Digital Economy
, some businesses, including SMEs have already begun digitalising their overall business model. This includes adopting cashless payment methods, using cloud computing, or integrating digital platforms.

The process of digitalisation for most, if not all, SMEs had to be accelerated due to the pandemic. On the bright side, digitalisation does provide SMEs with a surplus of opportunities, such as increased productivity and efficiency, enhanced innovation, and most importantly, resilience through unprecedented times.

Outsource Your Business’ Logistics With TheLorry for Business (T4B)

For most businesses, logistics are a huge part of the overall business process. Getting goods delivered from one place to another on time and intact are essential and can be tricky to manage, especially if deliveries need to happen consistently.

TheLorry for Business (T4B) was launched to connect SMEs to affordable yet high-quality logistics services via their digital platform, leveraging their existing infrastructure. Focusing on large and bulky deliveries, T4B allows SMEs to easily book, track, and manage deliveries all from their desktop and mobile devices.

Comprehensive Delivery Solutions

Whether your business is primarily in F&B or the building materials industry, T4B is capable of catering to a variety of products, namely retail, building materials, furniture, electronics, dried goods, e-commerce, and commercial products.

According to their clientele, the 1-tonne lorry is a popular vehicle choice among T4B’s range of delivery vehicles. This includes four-wheel drives, vans, and 1-tonne, 3-tonne, and 5-tonne trucks.

With the festive season coming up, time and availability of business resources are vital to a business’s productivity and meeting consumer demands, which is why T4B offers businesses the ease of booking on-demand, same-day, advance-order, and inter-state deliveries at competitive rates.

Seamless & Efficient Booking System

Apart from providing a range of delivery services and vehicles, T4B also offers an uncomplicated booking process. After signing up for an account and getting verified, business owners can conveniently book a delivery either through their desktop or mobile, saving them the time and hassle of looking for a dependable driver.

Step 1:
Create a new booking.
Step 2:
 Enter pickup and drop-off points.
Step 3:
 Enter your company’s information and the item’s description.
Step 4:
 Determine your preferred delivery times, delivery vehicle(s), and manpower requirements.
Step 5:
 Confirm!

What’s more, is that users can also manage and track multiple deliveries in real-time throughout their online dashboard. Possibly eliminating disorganised logistical tracking, messy bookings, and jumbled delivery schedules.

Users can keep up with delivery costs, delivery statuses, and even verify completed deliveries.

Access To Professional & Capable Drivers

Without logistic drivers, there wouldn’t be deliveries. Without experienced and skilled drivers, there wouldn’t be timely and secure deliveries.

T4B ensures the security and safety of all deliveries by making it a priority that all drivers are deemed capable and qualified. Moreover, TheLorry also empowers its drivers by providing them with adequate benefits and a comprehensive support system.

End-to-End Logistics Solution On Desktop & Mobile

From a business perspective, TheLorry For Business provides businesses, including SMEs, an opportunity to improve their operational performance, decrease operational risks, and reduce their operational costs.

T4B provides a flexible logistics solution that allows businesses to easily organise current and future deliveries, project delivery costs, and manage delivery operations all from a single digital platform, from both desktop and a mobile phone. Additionally, businesses can also access organised documentation and statements for their respective bookkeeping.

TheLorry For Business also supplies businesses with a dedicated consultancy support team to assist in maximising the partnership between businesses and T4B.

***

With wide access to experienced drivers and delivery vehicles, a variety of delivery options, as well as a user-friendly digital platform, TheLorry for Business could very well be your answer to outsourcing and digitalising your logistics department for the long term.

For more information on the features and benefits, head to
TheLorry for Business (T4B) website
 or
sign up here
.

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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.

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PM: 12MP Aims To Raise Average Monthly Household Income To RM10,065 By 2025

(Image: The Star)

Prime Minister Datuk Seri Ismail Sabri Yaakob has unveiled the 12
th
 Malaysia Plan (12MP) today, sharing that one of the goals featured in the plan includes raising the average household income to RM10,065 per month by 2025. This will contribute to Malaysia’s ambition to become a high-income nation by the same year.

The government expects the gross domestic product (GDP) to grow between 4.5% and 5.5% per annum under the 12MP, led by higher labour productivity growth. From there, it is forecasted to result in a 6.4% per annum rise in gross national income (GNI) per capita, from RM42,503 in 2020 to RM57,882 in 2025. Along with this, salaries and wages are also projected to rise, thereby contributing to higher household incomes, as well as a more even distribution of income between capital owners and employees.

The document also noted that the earlier 11
th
 Malaysia Plan (2016-2020) had aimed to increase the average monthly household income to RM8,960 by 2020. However, actual figures fell short at RM7,160.

The prime minister further highlighted that the Covid-19 pandemic – which began its onslaught on Malaysia in March 2020 – had severely dampened the country’s economic performance. It had caused the country to record an average GDP growth of only 2.7% between 2016 and 2020. Consequently, the GNI per capita in 2020 also came up short at RM42,503.

“This sum is 20% less than the threshold required for a high-income nation,” said Datuk Seri Ismail during the tabling of the 12MP. Additionally, the health crisis also caused the country’s fiscal deficit to widen to 6.2% of the GDP.

Aside from aiming to raise the average household income, the 12MP also targets to eradicate hardcore poverty by 2025 via a whole-of-nation approach. It involves mobilising special units at the federal and district level to consolidate data, programmes, and initiatives by the government, corporate sector, and civil society organisations. The prime minister may also mull on the possibility of introducing a dedicated tax to finance poverty alleviation programmes.

Other notable goals highlighted in the 12MP also include reducing the intensity of greenhouse gas emissions in the GDP to 45% by 2030, inducing growth in various high-impact industries, as well as boosting micro, small, and medium enterprises across the country.

(Sources:
PMO
,
Free Malaysia Today
)

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About THE AUTHOR

Alex Cheong Pui Yin

Alex Cheong Pui Yin

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

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How to Furnish Your New Home Without Going Broke

Finding the right home to suit your budget, needs and tastes is challenging enough but once you’re done with that, you’ll be eager to start making your house a home. Now comes the next most important part of homeownership: furnishing your new abode.

If you have a tight budget, owning a stylish home may seem improbable. And, who’s got the money for an expensive interior designer?

Before we get into the tricks of the trade to home furnishing on the budget, lets look at the most important things you’ll need for your home to take shape. The table below shows the costs of the basic items you will need to furnish a standard home with 3 bedrooms and 2 bathrooms, a kitchen and a living room. Of course, tastes will vary and some may prefer to spend more on say; the kitchen as opposed to the living room or vice versa. Please note that the prices are suggestions and in no way guides to how much you must or must not spend.

Things you will need for your home

Items

Price(RM)

Bedrooms

Double bed Mattress

249

Bed frame

399

Hanger for door

49.90

Wardrobe

299

Study table

119

Long Mirror

29.90

Used office chair

50

Per Bedroom Cost

1,196

Total for 3 bedrooms

3,588

Kitchen

Cabinet and Wardrobe

3,300

Refrigerator

980

Kitchen sink

280

Washing machine 6.5kg(Used)

330

Bathroom

Shower Heater(New)

350

Living Room

The Lazy Sofa

899

Dinner Table(Used)

300

4 Dining chairs(Used)

260

TV(Used)

950

TV Cabinet

599

Coffee Table(Used)

299

Total

12,135

*The prices below are quoted from
mudah.my
 and
Ikea
. Prices are accurate at the time of research.

As you can see, a whopping total cost of
RM12,135
 is needed to only cover basic furnishings excluding home decor and miscellaneous bits and bobs which complete your home such as curtains and bedspreads. It’s a big amount to spend when savings are low after hefty downpayments and other home buying fees.

So, where do you go when you need financial help? There are a few options you can take if you don’t want to deplete your savings further for furniture or if you simply don’t have the money. But before you do; try some of these cost-saving measures:

Make a list and set a budget.
 Your list of needed items and budget will ensure you know how much money the lot is going to cost you and remind you not to go overboard with the purchases.

Compare prices.
 Don’t just buy the first thing you see. Do some legwork and trawl online sites for the best deals. You will also sometimes need to make the call between saving money or buying something a bit more lasting. The choice is yours but without the comparison you won’t have any choices.

Buy Secondhand.

Mudah
 is filled with listings for secondhand furniture; many in usable condition. Buying secondhand shouldn’t give you the impression of grotty old sofas and rattling beds – some antiques we tell you, are better made than anything new you can buy from the store! There are also quite a few secondhand stores in town you can visit. A quick google should give you a list of locations.

You can also check the classifieds in Expat forums and websites. Quite often, people looking to quit the country will want to sell fast (so this means cheap!) but many have only been here a few years so you’re very likely getting a quality piece of furniture very lightly used.

Hand-me-downs.
 It might seem bad for your pride but if you are a first time homeowner; there’s no harm in having a few hand-me-downs. Relatives and friends who are thinking of upgrading furniture may be happy to let you have their older items FOC. Maybe just buy them a drink.

Cut down the buying list.
 Are you a busy executive who rarely eats at home? Do you need a fully equipped dining table for 6 for dinner parties you only see on
Downton Abbey
? Or maybe you don’t need a mirror table for the 150 hairbrush strokes recommend daily. These are definitely things you can buy later but starting small with only the absolute necessities mean a lighter blow on your wallet.

Still have a huge bill after all the above moves? That’s ok; here are some payment options you can consider to lighten the financial load.

*
Payment Options *

Home Loan Plans

When you apply for a home loan plan, do look out for renovation and furniture top-up loans that you can take with it. This loan will be secured by the home you purchased and thus the interest rate will be much lower than any personal loan you could take. Be warned however, top-up loans can go on for many years (sometimes as long as the home loan itself) and this will cost you much more in interest than a personal loan despite having a lower interest rate.

Do the math and only take the top-up loan if you can pay it off quicker to reduce the interest incurred. Of course, this doesn’t mean free money which you can now use to purchase that sheepskin rug and marbled tile bathtub! Remember, basics!

Personal Loan/Credit Card

Unless it’s an emergency, you might not want to use up your savings for home furnishing. You can explore the option of taking out a personal loan or credit card where you can pay the amount through monthly installments. Personal loans can be quite expensive as they are calculated on a flat rate. This means your interest charge is calculated from your initial borrowing amount and not the reducing balance. Imagine having only RM100 left on your principal amount but paying RM10,000’s worth of interest fees!

Credit cards however, offer fixed rates, which mean your monthly repayment is calculated on reducing balances based on the usual 15%- 18% interest rate which allows predictable future payments. The rate is typically higher than a personal loan but due to the calculation method; you may end up paying less over the duration. Credit card balances can also be paid off faster where else personal loans tie you in for a fixed period.

The downside to credit cards though is that nothing beats the power of cold cash that you get with a personal loan. Many small shops and dealers don’t like accepting credit card payment so you will need to simply shop at big furniture shops. Credit cards also have a spending limit. Unless you have a few cards to swipe, you might not be able to pay for everything with one credit card.

How do I save money on furnishing?

Home basics are a essentials which usually comes with a big price tag. But, that’s not a good reason to spend on things than you can’t afford. Proper planning makes you a smart shopper.

Creating a cosy yet affordable home may be time-consuming and requires some conscious effort. However, you will be please with the end results when you can furnish your home the way you want it without the threat of debt collectors ruining your peaceful stay.

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Denise Chan

Denise Chan

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Grab To Increase Peak Hour Fares In Klang Valley; Lowers Driver Commission Rates

Grab has updated its commission structure in line with the new regulations set by the Ministry of Transportation. Together with this, the startup has also made some other changes aimed to benefit both driver and rider on the Grab platform.

The startup released
a new entry on its driver support page
 to announce the changes.To adhere to the
recent e-hailing regulations in Malaysia
, Grab is reducing the commission charges it imposes on each ride from 25% to 20%. However, this only applies to drivers who enable the Auto-Accept (AA) feature, which automatically accepts rides that the Grab algorithm chooses the driver for. Drivers who do not enable AA will still be charged the standard 25% commission.

To further drive the adoption of AA among drivers, Grab has made another change. To be eligible for incentives offered by Grab, such as Hourly Guarantees and Flexi Incentives, drivers must enable Auto Accept. AA-enabled drivers will also receive priority allocation, as the driver-rider matching algorithm always pairs the two based on distance. Grab believes the algorithm will always pair the best driver for the job, and not having AA enabled will affect the waiting time
and
 pick up distance for the passenger and driver respectively.

One big change that will affect riders is the introduction of higher peak hour fares for rides in the Klang Valley. Grab says that following driver feedback, the increase in peak hour fares is a way to compensate for the high volume of traffic in the morning and evening. In addition to that, Grab is also introducing a “far pick-up bonus” which guarantees a minimum RM1 for each 1KM driven when picking up the rider.

Grab is also adding more reasons for which a driver can cancel a ride without affecting their Cancellation Rate. Previously, a driver can only cancel for “passenger no show” which will not affect their Cancellation Rate. Now,
a driver has two additional options
: “too many passengers or luggage” or “can’t pick up at this location”.

These changes are not only made to adhere to the new e-hailing regulations, but likely also based on feedback by both drivers and riders. The ride-sharing platform has received plenty of criticism lately, with many questioning the quality of service provided by the company after it aggressively acquired Uber’s operations in Southeast Asia.

The aggressive push for AA adoption appear to be designed to protect the rider from getting poor driver matches (driver too far etc), while higher peak hour fares and far pick-up bonuses are great as compensation for drivers who burn fuel stuck in traffic jams.

On the other hand, drivers will likely not be happy with a move that forces them to accept all rides assigned to them. Grab’s core feature shows the destination allows drivers to select rides that suit their routes (or preference), but this is now nullified by AA. After all, cherry-picking rides is a long-running issue with taxi drivers, resulting in the horrendous service that spawned ride-sharing solutions like Grab in the first place.

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Pang Tun Yau

Pang Tun Yau

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

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Lazada Malaysia Now Accepts American Express Cards

Lazada Malaysia has begun accepting American Express cards as a method of payment on its e-commerce platform. You can now use your American Express cards to pay for your Lazada purchases as well as top up your Lazada e-wallet and pay bills.

While Lazada has not yet added the American Express logo to its official list of payment methods displayed on the home page, you will notice that the icon appears on the checkout page under credit or debit cards. A member of our team was able to successfully able to top up their Lazada wallet, save their card for payment transactions,
and
pay their bills on Lazada using an American Express credit card.

This is certainly good news for American Express cardholders in Malaysia as they can now reap the benefits of their Amex credit cards while carrying out their transactions on Lazada. These benefits include the 5% weekend cashback feature offered by the
Maybank 2 Amex
 and 5x TreatsPoints offered by both the
Maybank 2 Amex
 and
Maybank 2 Premier Amex Reserve
. However, it is unlikely that these benefits will extend to top-ups of the Lazada Wallet, as Maybank does not offer credit card rewards for any e-wallet reloads.

With this latest update, Amex cards are now accepted on two of Malaysia’s biggest e-commerce platforms in Malaysia;
Shopee embraced Amex
 as a payment method late last year for all its features except for bill payment.

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Jacie Tan

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S P Setia Offers Up To 48% Rebate For Properties Via Setia NOW Campaign

S P Setia Berhad has launched the Setia NOW campaign, which sees more than 1,600 properties nationwide being offered with a rebate of up to 48% from the selling price. Ongoing until 31 July 2020, the campaign is one of the biggest to have been launched by the developer.

Aside from the discount, S P Setia is also providing several other promotions, such as the waiver of booking fees, down payments, or legal fees. You may also get a free memorandum of transfer (MOT).

A range of S P Setia properties are included in the campaign, catering to a variety of lifestyles and household sizes. You can choose from condominiums, serviced apartments, terrace houses, semi-detached homes, villas, bungalows, and even selected commercial units. Location-wise, they are situated in the Klang Valley, Johor, Penang, and Kota Kinabalu.

According to S P Setia, the properties that are on offer will start at the price of RM577,000 and above before the rebates. Among some of the projects featured are:

Elonia
: Two-storey terrace houses in Bukit Indah, Johor Bahru (RM588,880 and above)

Setia Sky Vista
: Condominiums in Relau, Penang (RM692,700 and above)

Aeropod Commercial Square
: Boutique retail offices in Kota Kinabalu, Sabah (RM1,033,000 and above)

Elizabeth Falls Signature
: One-and-a-half-storey bungalows in Setia Eco Park, Setia Alam (RM2,602,000 and above)

To find out more, you can contact the developer at 1300-13-2255 or visit
S P Setia’s website
.

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About THE AUTHOR

Alex Cheong Pui Yin

Alex Cheong Pui Yin

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

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Grab Holds Pointsback And GrabPay Power Up Campaigns; Time To Maximise Your Points Value!

GrabPay e-wallet users can look forward to ending 2020 with a bang by tapping into two campaigns from the tech giant, offering up to 40% GrabRewards points “pointsback” as well as the chance to earn up to 7,000 GrabRewards points. The
GrabRewards Year-End Pointsback campaign
 – which starts today – will end on 31 December, whereas the
GrabPay Power Up campaign
 will only run for one day on 31 December.

GrabRewards Year-End Pointsback campaign

Period: 29 – 31 December 2020

Held at the end of the month over the last few months, the Pointsback campaign effectively gives you a discount on the GrabRewards points that are required to redeem certain rewards from the GrabRewards catalogue. Depending on your membership tier, you will be able to get a certain percentage of GrabRewards points back when you spend and redeem rewards from GrabFood, GrabMart, and selected Grab partners.

As with previous Pointsback campaigns, Platinum and Gold users will be able to get 40% and 30% Pointsback respectively. Meanwhile, Silver and other regular members will get 10% Pointsback. Here’s how the Pointsback rewards look like when you redeem RM20 and RM50 discounts on GrabFood and GrabMart:

Rewards

GrabRewards points required

Platinum (40% Pointsback)

Gold (30% Pointsback)

Silver & other members (10% Pointsback)

RM20 discount

3,200

1,280

960

320

RM50 discount

8,000

3,200

2,400

800

Aside from GrabFood and GrabMart, you can also tap into this campaign with selected Grab partners, including llao llao, Tealive, Lazada, Shopee, Village Grocer/B.I.G, and Starbucks. Rewards that are available for redemption range between discounts of RM5 to RM20:

Rewards

GrabRewards points required

Platinum (40% Pointsback)

Gold (30% Pointsback)

Silver & other members (10% Pointsback)

RM5 off at llao llao

800

320

240

80

RM7 off at Tealive

1,120

448

336

112

RM20 off at Lazada and Shopee

3,200

1,280

960

320

RM 5 off at Village Grocer/B.I.G

800

320

240

80

RM7 for 1x Grande drink at Starbucks

3,920

1,568

1,176

392

Note, though, that each user is only allowed to make up to three redemptions during the campaign period. Additionally, each reward is limited, and will be awarded on a first-come first-served basis.

This is a great opportunity to maximise the value of your points. Grab values its rewards points at a redemption rate valued at 800 points = RM5, which means 1 point is worth 0.625 sen. With the Pointsback campaign, you’ll be redeeming vouchers that value 1 GrabRewards point at 1.04 sen (i.e. 40% higher) and thus increase your
rate of return to 3.125% for Platinum users
 (you can read more about the calculation in our
analysis of the GrabRewards points
).

GrabPay Power Up campaign

Period: Only 31 December 2020

This one-day-only campaign will give you the chance to earn up to 7,000 GrabRewards Points when you spend a minimum amount using GrabPay at selected online stores. There are two “Power Up” categories in this campaign:

Earn
3,500 GrabRewards points
 when you spend a minimum of
RM150
 with GrabPay in a single transaction

Earn
7,000 GrabRewards points
 when you spend a minimum of
RM250
 with GrabPay in a single transaction

In its press release, Grab also pointed out that each user is entitled to one redemption per category, which means that you can technically earn a total of 10,500 GrabRewards points by making two transactions with the minimum values stated above. Note, though, that both categories have a limit of 5,000 redemptions, provided on a first-come first-served basis, so you’ll have to be quick.

Also, this campaign is valid only for retail transactions; all bill and insurance payments will not be accepted as qualifying spend. Some of the major online merchants that you can visit in order to qualify for this campaign include Zalora, Caring Pharmacy, Mr DIY, Senheng, and Domino’s. Just remember to set GrabPay as your preferred payment method when checking out!

The GrabRewards points earned will be awarded instantly once you’ve met the spend requirement. The bonus points are a huge bonus because even at Platinum level, RM1 only earns 3 GrabRewards Points.

Equating it more tangibly, considering the value of 1 GrabRewards Point at 0.625 sen, 3,500 GrabRewards Points are worth RM21.88 and 7,000 Points are worth RM43.75. If you manage to spend RM150 and RM250 in two separate transactions and thus earn 10,500 GrabRewards Points, you’re looking at
 a generous return of RM65.63 in Points, or 16.41% effective returns
.

Not to forget, these points are worth 40% more if you redeemed them during the end-of-month Pointsback campaigns!

***

For more information about the
GrabRewards Year End Pointsback campaign
 and
GrabPay Power Up campaign
, head on over to Grab’s official website.

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About THE AUTHOR

Alex Cheong Pui Yin

Alex Cheong Pui Yin

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

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Enjoy a refreshing drink with Citibank at the Coffee Bean

Citibank credit card owners thirsty for some refreshments should drop by
their nearest The Coffee Bean & Tea Leaf outlet.

Clear Card holders will get a complimentary drink for every one they buy, while PremierMiles, Platinum, Business Platinum, Cash Back Platinum and AirAsia-Citibank Platinum Cards enjoy 20% off all food and beverages. All other cardholders are entitled to a 10% discount on F&B items.

This promotion is valid at all CBTL outlets in West Malaysia except LCCT and HSBC Lebuh Ampang, until 31 December this year.

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Bank Promo Codes For Shopee Payday Sale This 25 June 2022

Shopee’s monthly payday sale on the 25
th
 of each month is back! This month’s Shopee Payday Sale again comes with various bank vouchers that you can use to offset your purchases on Shopee at midnight.

Without further ado, here’s a list of the available bank promo codes you can use:

Alliance Bank

Alliance Bank credit cardholders can enjoy RM15 off their purchase with a minimum spend of RM150. Meanwhile, you can claim a huge RM50 discount when you spend a minimum of RM500.

Redeem the vouchers here
, and apply them at checkout at midnight!

Bank Islam

Existing Bank Islam credit and debit cardholders can also get a very generous RM20 discount with a minimum spend of RM100 in a single transaction.

Claim this voucher here
 or enter this promo code (
6PDBI
). You can then use it from tomorrow to 30 June 2022. Note that this voucher is only limited to the first 1,000 cardholders, and is provided on a first-come, first-served basis.

Bank Simpanan Nasional

Bank Simpanan Nasional credit and debit cardholders, too, can get discounts on their Shopee purchases. These are the vouchers offered for both new and existing cardholders:

Cardholder
Discount
Promo code
New cardholders
RM18 with a minimum spend of RM20
NPDBSN
Existing cardholders
RM10 with a minimum spend of RM100
6PDBSN

As usual, simply enter the applicable promo code to enjoy the discount. Note that existing cardholders can only use their vouchers tomorrow, while new cardholders have until 7 July 2022 to use theirs.

CIMB Bank

CIMB credit, debit and prepaid cardholders can also get discounts this payday sale. Refer to the table below for the vouchers available to both new and existing Shopee customers:

Customer

category
Voucher amount
Promo code
New Shopee customers
RM10 with a minimum spend of RM150
CIMBPDAYNEW
Existing Shopee customers
RM15 with a minimum spend of RM40
CIMBPDAY
Existing Shopee customers (for CIMB Mastercard cardholders only)
RM50 with a minimum spend of RM580
CIMBPDAYMC

You can
claim the vouchers here
, and redeem them from tomorrow to 29 June 2022.

On a side note, these vouchers are actually available from the 25
th
 to the 29
th
 of each month throughout this year. So you can also apply the same promo codes to your purchases on your next payday.

Citibank

Citibank credit cardholders can get a RM17 discount with a minimum spend of RM150.

Claim yours here
, and be sure to use it at the stroke of midnight, as this voucher tends to run out pretty quickly!

Hong Leong Bank

Existing Hong Leong Bank credit cardholders can enjoy RM10 off with a minimum purchase of RM100.

Simply enter this promo code (
6PDHLB
) at checkout tomorrow to enjoy this discount.

Maybank

Maybank cardholders can enjoy a wide variety of codes, as there are exclusive codes for Maybank Shopee credit cardholders as well as Amex cardholders –
claim them here
.

Cardholder
Voucher amount
Maybank Shopee credit cardholders
RM20 off with a minimum spend of RM120
Maybank American Express credit cardholders
RM18 off with a minimum spend of RM120
Maybank credit cardholders
RM15 off with a minimum spend of RM120
Maybank credit cardholders
RM10 off with a minimum spend of RM100
(Promo code:
6PDMBB
)

As with the Citibank code, Maybank vouchers tend to run out very quickly, so do plan your purchases in advance and check out at midnight.

Public Bank

Existing Public Bank credit cardholders can get RM10 off when they spend a minimum of RM100.

Use the promo code
6PDPBB
at checkout to redeem this voucher.

RHB Bank

RHB credit cardholders can get RM20 off with a minimum spend of RM150. There’s also another voucher that offers a huge RM60 discount with a minimum purchase of RM500.

Collect the vouchers here
 to enjoy the discounts.

Standard Chartered Bank

Last but not least, existing Standard Chartered Bank credit cardholders can enjoy a RM20 discount with a minimum spend of RM150.

Just apply this promo code
SCBPDAYQ2
 at checkout to redeem this voucher.

***

With all the vouchers available, you can definitely get more bang for your buck! Be sure to
collect the applicable vouchers here first
, and apply them tomorrow. Just note that these vouchers are provided on a first-come, first-served basis, and can only be redeemed once by each cardholder.

Not to forget, you can stack these bank promo codes with free shipping vouchers as well as store vouchers, which combined can come up to quite a considerable amount saved!

If you’re not yet a credit cardholder, you can find the
best credit cards that fit your needs at RinggitPlus
.

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Public Bank’s Visa Campaign Offers 8% Cashback, 0% Flexipay Plan For Overseas Transactions

Public Bank and Public Islamic Bank are currently running its Overseas Reward With PB Visa Credit Card campaign, rewarding eligible credit cardmembers with 8% cashback for overseas transactions. Along with that, there is also a 0% Overseas Flexipay Plan offer, which allows cardmembers to convert their overseas transactions into a 12-month instalment plan with 0% interest.

This campaign is eligible for both new and existing principal cardmembers. The first offer allows you to earn 8% cashback by spending a minimum of RM100 in a single receipt on overseas transactions in foreign currencies and capped at RM88 per month. Offered on a first-come, first-served basis, cardholders can earn cashback for three months across the campaign months:

Participating months
Dates
Month 1
11 April – 10 May 2022
Month 2
11 May – 10 June 2022
Month 3
11 June – 10 July 2022

Qualifying transactions include all overseas retail spending, online purchases and new zero-interest instalment plans (full purchase amount). Meanwhile, e-wallet transactions, balance transfers, recurring payments, and payments for utilities are among some of the transactions that are not eligible for this campaign.

Public Bank has allocated a total of RM105,000 for this sub-campaign, with RM35,000 earmarked for each campaign month. If you do earn any cashback, it will be credited into your account within four to eight weeks after the end of each campaign month.

Meanwhile, to tap into the 0% Overseas Flexipay Plan, you’ll need to meet a minimum spend of RM6,000 for overseas transactions in foreign currencies. You can then convert the transactions into a 12-month instalment plan with 0% upfront interest or management fee. Note as well that you may apply for this plan more than once during the campaign period, as long as you have enough credit limit and meet the minimum RM6,000 transaction amount.

To participate in the Overseas Reward With PB Visa Credit Card campaign, you need to send an SMS (“
PBHL<space>16-digit principal Visa credit card number
”) to 66300, after which you’ll receive a confirmation from the bank if you’re successfully registered. In the case of the 0% Overseas Flexipay Plan, you are also required to contact Public Bank with the details of the transaction that you wish to convert; this should be done three days after the purchase, or five days before the next statement date. You can do so by contacting the bank at 03-2176 8000 or emailing it at
[email protected]
.

Finally, note that this campaign is slated to run until 10 July 2022.

(Source:
Public Bank
)

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BFM Speaks to RinggitPlus: How Rising Interest Rates Affect Consumers

OPR Hike

For the first time since May 2011, Bank Negara Malaysia (BNM) has recently raised the overnight policy rate (OPR), the rate at which banks borrow from each other, by 25 basis points –  effectively raising it to 3.25%.

BSM has stated that this increase is expected, to ensure stable economic growth and to offset the threat of inflation, which is expected to
average between 3%-4%
 this year.

Banks will surely benefit in the short run with loans pegged to the Base Lending Rate (BLR) already adjusted to allow banks to earn high profit margins.

This sentiment is echoed by CIMB Research, who said that
loan approvals might decline
 with higher interest rates, but added that the impact to the average Malaysian might not be big as the magnitude of the rate hike is less than a percentage point.

What Does This Mean For You?

As alluded to above, for those thinking of taking up a loan with variable interest rates such as a housing loan, you will have to pay more on your monthly instalments. And surely for those with weaker credit scores will have a harder time getting approved for a loan.

But is there a silver lining to all of this? Will savings and fixed deposit rates rise in tandem? What about those with existing loans with the banks?

These are exactly what the people at BFM’s daily business program, Ringgit and Sense, wanted to know. And who better to ask then Hann  Liew himself, CEO of RinggitPlus – Listen below!

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Standard Chartered offers free Celebrity Fitness membership

Personal trainers too for credit card and debit card holders

You just know you’re going to overdo it over the festive season. Don’t kid yourself that eating a bunch of Mandarin oranges will cancel out the dumplings, duck and sausages. This might be the best time of year to think about joining the gym.

Standard Chartered is offering an excellent package
 to those of you feeling the need to get fit. All credit and debit card holders are eligible for a free 14 day trial pass at
Celebrity Fitness
.

Try it, and if you like the RM290 joining fee is waived and you’ll even get a free one-on-one session with a personal trainer worth RM180.

What have you got to lose? Yeah, fat.

Head off to Celebrity Fitness, present your Standard Chartered Credit or Debit card, and get fit.

Terms and conditions apply.
 Promo ends June 30
th
 2013.

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Finance Minister: Govt To Provide Fuel, Cooking Oil Subsidies Of Up To RM8 Billion This Year

(Image: Malay Mail)

The Malaysian government is expected to provide fuel and cooking oil subsidies of up to RM8 billion this year – which is RM4.22 billion higher than the original RM3.78 billion originally allocated for 2021.

In 2020, the government spent RM2.16 billion on fuel and cooking oil subsidies while in 2019 a total of RM6.32 billion was spent.

Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said that the higher allocation this year was due to an increase in current global market prices. Following the increase in commodity prices globally, it is expected that government subsidies for RON95 petroleum products, diesel, liquefied petroleum gas (LPG), and subsidised cooking oil will increase sharply.

“The government is prepared to bear the higher subsidy expenditure to preserve the well-being of the people and the viability of business, especially small traders,” said the finance minister. Tengku Zafrul added that the government would continue to help the people through various measures, including continuing to subsidise fuel and cooking oil to reduce the impact of rising commodity prices on the people’s cost of living.

According to Tengku Zafrul, the government will continue the price maintenance policy of RM2.05 per litre for RON95 petrol and RM2.15 per litre for diesel. Meanwhile, LPG has been maintained at RM1.90 per kg since June 2015 and subsidised cooking oil has been kept at RM2.50 per one kg pack since 1997.

Furthermore, the finance minister said that various Budget 2021 measures and improved initiatives through PERMAI, PEMERKASA, and PEMERKASA+ will continue to be channelled at least until the end of the year.

(Source:
The Star
)

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MEF: Implementation Of RM1,500 Minimum Wage Will Drive Many Businesses To Bankruptcy

(Image: Malay Mail/Shafwan Zaidon)

The Malaysian Employers Federation (MEF) has commented that increasing the minimum monthly wage to RM1,500 by the end of 2022 will cause many local businesses to go bankrupt. This is especially as most are still recovering from the setbacks caused by Covid-19 and the recent major floods.

MEF’s remark came following an earlier statement by the Human Resources Minister, Datuk Seri Saravanan Murugan, who said that
a new minimum wage of “around RM1,500 a month”
 is expected to be implemented before the end of this year. The new rate is currently awaiting Cabinet approval, with various parties having called for the increase recently, including
Senator Dr Yaakob Sapari
.

According to the president of MEF, Datuk Dr Syed Hussain Syed Husman, the government should first direct its efforts towards business recovery and controlling the rising cost of products and services, instead of increasing the minimum wage.

“We must remember that most Malaysian businesses are micro, small, and medium enterprises (SMEs and MSMEs), 98.9% are in this group. So, when we talk about wages and cost, we must think of their survival and sustainability. MSMEs are suffering, and even [with] a small increase in their cost, they will suffer and close down, what more an increase of RM300 or RM400 per month, on top of existing national minimum wages,” Datuk Syed Hussain said, adding that Malaysia will likely see a hike in its unemployment rate and business debts if the new minimum wage is implemented.

Aside from that, Datuk Syed Hussain also remarked that the increase will better benefit foreign labour because locals are already paid wages higher than RM1,500. As a result, these local employees may feel demotivated as their wages will not be adjusted. Meanwhile, outflow of money from Malaysia will only increase.

“It is estimated that foreign workers, on average, send back some additional RM4 billion each year for every RM100 increase in minimum wages. Thus, the increase of RM300 or RM400 will cause additional outflow of between RM12 billion to RM14 billion per year,” Datuk Syed Hussain shared, adding that that this does not include remittances through unofficial channels.

(Image: The Malaysian Reserve/Muhd Amin Naharul)

Finally, the MEF president offered several suggestions that he believes will improve the situation. He said that the government should provide automation incentives to ensure that the job market will not be affected by the implementation of future minimum wage rates. Additionally, jobs that are perceived as dirty, dangerous, and difficult (3D jobs) need to be rebranded so that more locals will be inclined to take up these jobs, instead of pushing them off to foreign workers.

Datuk Syed Hussain further proposed for wages to be provided based on an employee’s certified qualifications. “Currently, employees are not keen to seek for skill certification as such certification is not linked to the wages, and those at the lower end of the spectrum are generally paid the minimum wages. Differentiation in wages between local workers and foreign workers should be based on certified skills. With certified skills and higher wages, locals would be attracted to perform the rebranded 3D jobs,” he said, adding that this method is commonly adopted in developed countries, such as the UK and Japan.

Malaysia’s current minimum wage stands at RM1,200 per month, and the last adjustment (from RM1,100 to RM1,200 per month) was made back in February 2020.

(Sources:
The Edge Markets
)

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Alex Cheong Pui Yin

Alex Cheong Pui Yin

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

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Razer Becomes First Merchant Acquirer To Enable Full Suite Of DuitNow Payment Channels

Razer Merchant Services (RMS) revealed that it has enabled the full suite of payment channels on PayNet’s DuitNow real-time payments platform, consisting of DuitNow QR, DuitNow QR Cross-Border, and DuitNow Online Banking/Wallet. This makes it the first merchant acquirer to support all three channels, with the aim of providing more convenience and versatility for its network of merchants.

According to the chief executive officer of RMS’s parent company Razer Fintech, Lee Li Meng, this latest development is a timely one. “We are proud to enable these developments with PayNet’s real-time payments platform for our regional and global merchants from both online and offline verticals. In times where physical contact needs to be limited, these developments will accelerate payment conversions and will be an effective contactless alternative to cash payments for both merchants and customers,” he said.

(Image: sgsme.sg)

To clarify, DuitNow QR is Malaysia’s national QR standard that allows consumers to pay using any participating mobile banking apps or e-wallets. For merchants, they will only need to display only one QR code to accept payments from any participating entities, thereby reducing confusion. According to a statement from RMS, however, DuitNow QR is currently limited only to the apps of local participating banks.

Meanwhile, DuitNow QR Cross-Border allows customers from foreign countries to conveniently make real-time payments to Malaysian merchants – both offline and online – using mobile banking apps or e-wallets from their respective countries. Malaysia has currently enabled cross-border payments for
Thailand
, and are in the midst of forming linkages to Indonesia,
Singapore
, and
the euro area
. If successful, RMS – as one of the earliest to adopt this particular DuitNow payment channel – is set to benefit.

Finally, DuitNow Online Banking/Wallet is a secure online payment solution that allows instant debiting of customer’s internet banking account or e-wallet, as well as direct crediting into a merchant’s account. Over 40 banks and e-wallets have come onboard for this service, with more expected to join by the first half of 2022.

Following this update, RMS said that it aims to onboard 1,000 online merchants with the full suite of DuitNow payment channels by 2022. In addition to that, it also hopes to enable 3,000 physical offline acceptance points with DuitNow QR and DuitNow QR Cross-Border during the same period of time.

(Source:
The Sun Daily
)

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Take Your Business To The Next Level With CIMB Special Financing Rate

Businesses across the globe are pooling their resources and strategising to best combat the impact of inflation. The rising costs of goods and services have greatly impacted businesses’ purchasing power and overall cash flow, with some even experiencing a decline in profitability.

Whether we like it or not, the pandemic certainly emphasised the importance of taking one’s business online and catapulting it into the digital sphere. However, not all small- and medium-sized enterprises (SMEs) are equipped with the means or expertise to do so.

Elevate your business with our Digital Partners solution and bring your business to the next level!

Regardless of which stage your business is in, it’s always a good idea to minimise your outflow of cash. Getting a special financing rate that is 0.25% lower than the ongoing market rate is an opportunity that business owners would not want to miss. Plus, with CIMB SME Quick Biz Financing/-i, you can now quickly access a high amount of collateral-free financing.

Aside from that, CIMB offers a wide network of digital partners solutions that can launch your business into a well-oiled machine that’s ready to take on any challenge. Your business could be equipped with HR solutions, online webstore services, business management solutions, and many more that free up your employees’ time so they can focus on more pressing matters.

Remember to sign up by 30 June 2023 to enjoy the special preferential rate.

Interested to learn more?
Click here to visit the website
.

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Free Ways to Get Fit Without a Gym Membership

Inspired by the upcoming Olympics? Well, that’s not surprising! Apparently, whenever major sporting events hit,
the urge to stay fit is mightier than ever
. So why not take advantage of the healthy momentum by pushing forward with your fitness goals!

But while you may be motivated to work out now, the costs of gym memberships and equipment could put you off. We found a few terrific gym alternatives that are completely free:

1. Watch YouTube Fitness Videos

Although the easiest workout option on our list to access, don’t expect to be given a break from fitness greats like The Biggest Loser’s
Jillian Michaels
,
Tracy Anderson
 (the woman behind Madonna’s arms) and the legendary
Billy Blanks
 (inventor of Tae Bo). You’re sure to get truly intensive workout sessions with these top trainers and all for F-R-E-E!

But even if it’s not intensity you are looking for, options for more relaxed workouts like yoga and Pilates are also available. Try
POPSUGAR Fitness
 or
Fitness Blender
 for some of the best free workout videos available on the net. These examples also don’t require any additional equipment for you to purchase.

2. Use Fitness Tracker Apps

Imagine having a personal trainer to help you with your workouts or an Olympic running coach that clocks your speed, all fitted into a tiny app on your phone. Yes, fitness trackers are arguably one of the noblest uses of app tech available.

In fact, the prominence of fitness and health apps has been highly successful in
managing obesity
. Programs like
Noom Coach
 and
CardioTrainer
 are two fantastic examples of such apps, and both come with impressive free features.

3. Start a Team Sports Group

What better way to channel Olympic-level team spirit than to work out with a group of like-minded individuals? Your friends, neighbours, and colleagues could make excellent team buddies but don’t be disheartened if you can’t get people you know to join you for sporting activities. You can always just go online to scout for team members!

Sites like
Meetup
 and social networks are great for making fast friends with people of similar interests; you might even be able to find folks to join you for alternative team sports like
lacrosse
 and
Ultimate Frisbee
 or even the Harry Potter-inspired
Quidditch
. If you’re smart with this, you never have to fork out a dime and can just borrow or exchange sporting equipment with your sports buddies. Score!

4. Use Your Community Gym

This last one might seem too obvious for some of you, but you’d be surprised how often people forget. If you live in a building that offers gym facilities and services for free, use them! Not only does it cost you absolutely nothing, you don’t need to travel or plan very far, and you get to be acquainted with other fitness-minded people as well.

They can then be the same people you can recruit to join your sports group from tip number 3. Even if you don’t have a community gym, you can check with a friend who does and see if you can use their gym for free as well. Easy, huh?

Since you’re taking on a healthy lifestyle, why not make an all-round change and secure the fitness of your finances as well. With proper medical insurance, you can still keep your money in top shape in the event of hospitalisation. Try out our
comparison tool
 to find a plan with the healthiest benefits!

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Maybank Categorises Cryptocurrency Purchases As Credit Card Cash Advance & Cash Withdrawals

(Image: New Straits Times)

Maybank has updated its terms and conditions relating to Cash Advance and Cash Withdrawals for both its Maybank and Maybank Islamic credit cards. Effective 16 July, the updated clauses classify cryptocurrency transactions as Cash Advance or Cash Withdrawals – officially making crypto purchases liable for cash advance and withdrawal charges.

Prior to this update, Cash Withdrawals/Cash Advance had been quite narrowly defined as a cash withdrawal made by submitting a Cash Withdrawal Draft or any cash. Now, for conventional credit cards, Maybank has expanded the meaning of Cash Withdrawals to include cryptocurrency whereas for Islamic credit cards, cryptocurrency has been included under the definition of Cash Advance. Maybank has also included betting and gaming transactions under its Cash Withdrawal category for conventional cards.

The new definition is laid out as follows:
“The use of the Credit Card for the withdrawal of cash or in any form of cash in any currency and the use of Credit Card for the purpose of betting or gaming transactions, including but not limited to purchase of lottery tickets, casino gaming chips, off-track betting, wagers at race or purchase of travellers cheques, foreign currency, money orders and quasi cash transaction representing a Merchant’s sale of items (including digital currency i.e. cryptocurrency or related/similar to cryptocurrency)”.

Cash Withdrawals/Cash Advance are subject to additional credit card fees, so this means that you will be incurring these charges if you use your credit card on cryptocurrency transactions. Following
Maybank’s current fee structure
, you will be charged a fee of 5% on the total amount or a minimum of RM18 per transaction, whichever is higher. There will also be a 18%p.a. interest charge to pay, calculated on a daily basis.

Local cardholders have already mentioned being charged this fee when buying cryptocurrency on platforms like Binance, which offers credit cards as one of its payment methods – so it’s likely that Maybank isn’t really introducing something new with these updated terms, but rather just formalising it. Moreover, now that cryptocurrency spend is officially being classed under Cash Withdrawals/Cash Advance, it’s certain that you will not be entitled to any cashback or rewards for these transactions. For the full details on the latest changes to Maybank’s credit card terms and conditions, you can refer to the
announcement
 here.

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Free Digital Tools to Help Market Your SME Business

Whether we realise it or not, we are constantly exposed to marketing everywhere we turn. Mass media and social media are all around us and if we pay enough attention it’s easy to notice that there are plenty of brands, products, and services out there that try doggedly to grab our attention.

While the constant bombardment might feel annoying, when you have your own business, you’ll begin to understand the necessary evil of marketing. How else will our potential customers know that we have the best solution for their problem if we don’t tell them we exist?

But don’t be intimidated by the many avenues of marketing available to everyone at the moment. You don’t have to spend a fortune to get the word out. Here is a list of free digital marketing tools you can use to make sure the message you want to send reaches the right number of the right people.

Canva

Sharing your business online is one of the easiest ways to get the word out. But seeing as it’s a visual medium, you do need to stand out with a good poster, logo, or poster.
Canva
 is a free tool you can use that makes designing pretty posters, pamphlets, and visuals easier than firing up Photoshop of Illustrator since it lives in your web browser and comes with easy to use presets as well.

Pablo

Speaking of sharing images online, one of the trickier things to manage about working on them is adjusting to different display sizes and aspect ratios across different apps. Thankfully, you can use
Pablo
 to do this for you. They have easy to use presets that make your image fit perfectly whether as a Twitter cover photo, Instagram post, or Facebook update.

MailChimp

Email marketing is another way you can cheaply spread the message of your business or product to several people at once. But once you’ve collected more than 50 addresses it can get annoying to always craft and schedule each email one by one. What you can do instead is use
MailChimp
 to help manage sending mass emails to your clients. They have beautiful templates you can work off of and it makes the work of sending email much much easier.

Google Analytics

How do you know if your website is doing well?
Google Analytics
 is a free tool you can use to find out which of your webpages get the most visits, how long people visit which pages for, and what you can do to optimise your website. After all, updating your website only makes sense if you know what you’re already doing right or wrong.

SurveyMonkey

Market research is another important area you need to pay special attention to when trying to study up on your customers. Sending out surveys is a good way to do this, and
SurveyMonkey
 makes the job easier and faster to accomplish. Send out questionnaires, collect data, and learn more about your prospects, all for free.

Get Started on the Right Foot

These are by no means the only free digital tools you can use but we recommend you try these out first and see how it can help your business out if you’re curious to level up your online marketing game.

Ready to make that leap of faith and embark into the world of franchise business opportunities? If your answer is yes, then here’s a bonus tip to help you get started on your new venture.

Learn more about the benefits of SME banking by giving
RHB SME Banking Portal
 a visit and make use of their Knowledge Center to discover the useful tips and tricks to help you achieve your aspirations as a soon-to-be franchisee. From business loans to current accounts created specifically for the fundamental needs of SME business owners, begin your journey as a franchisee with RHB SME Banking Portal today.

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Maybank To Fully Migrate From SMS OTP To Secure2u By June 2023

(Image: Bernama)

Maybank has revealed that it will fully migrate from SMS one-time passwords (OTPs) to its more secure authentication method, Secure2u by June 2023. This will be applicable for online activities and transactions, including account opening,
fund transfers
,
payments
, as well as
changes to personal information and account settings
.

Maybank’s announcement came following Bank Negara Malaysia’s (BNM) recent directive for banks to adopt
five additional safeguards in a bid to combat financial scams
, which included a call to move away from SMS OTPs. “This is in line with Bank Negara’s steer for banks to migrate from SMS One Time Passwords (OTP) to more secure authentication for these transactions,” the bank noted in a statement.

On top of that, Maybank also highlighted other ways in which it has already adopted several of the additional safeguards proposed by BNM. For instance, Maybank currently only allows one Secure2u device per accountholder, with the aim of reducing the likelihood of a customer’s online banking details from being compromised. Moreover, customers will receive alerts from the bank via SMS, push notification, and email whenever Secure2u is registered on a new device, as an added security measure.

(Image: Maybank)

To note, Maybank had also recently notified customers that Secure2u activations will be
moved permanently from the Maybank2u mobile banking app to the MAE by Maybank2u (MAE) app
 – applicable to new activations. Additionally, it is introducing a 12-hour activation period to the Secure2u feature, which is set to take effect on 8 October 2022. With this, customers who activate Secure2u on a new device will need to wait for 12 hours before they can begin using the feature to authorise transactions.

Aside from the Secure2u feature, Maybank also remarked that it already has a dedicated 24/7 hotline (+603 5891 4744) for customers to report financial scam incidents or to request suspension of their bank accounts if they suspect that a fraud transaction has occurred. Alternatively, customers can contact the Maybank customer care hotline at 1 300 88 6688, and visit Maybank’s website and social media for updates on scams.

(Image: The Malaysian Reserve/Muhd Amin Naharul)

“This is done through existing security measures that are already in place, and as we progressively roll out more measures that can help deter or minimise the likelihood of customers falling prey to financial scams,” said the group president and chief executive officer of Maybank, Datuk Khairussaleh Ramli.

Finally, Datuk Khairussaleh noted that BNM’s call for the adoption of the additional safeguards is timely, especially to ensure higher standards of security for internet and mobile banking services. “The banking industry is committed to working together to combat financial scams which are increasingly prevalent in today’s digitalised environment,” he further said.

(Source:
New Straits Times
)

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Alex Cheong Pui Yin

Alex Cheong Pui Yin

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

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PM: Budget 2022 To Focus On Helping People

(Image: Bernama)

Budget 2022 will focus on helping people, especially in tackling the effects of the Covid-19 pandemic, said Prime Minister Tan Sri Muhyiddin Yassin. The national budget will be tabled by the government later this year.

“If we have the money, we will use hundreds of billions even to assist the people and that will come, InsyaAllah,” said Tan Sri Muhyiddin during a special discussion broadcasted over RTM and Bernama TV.

(Image: Bernama)

The prime minister said that the government had currently implemented various initiatives to help all affected vulnerable groups following the pandemic.

“Assistance continues to be given so that the effects of the pandemic and tighter control imposed will not have a significant impact until people have to live in difficult conditions, (become) paupers… I don’t like to hear that,” said Tan Sri Muhyiddin.

“As Prime Minister, I feel sad and that is why we try to help as much as we can and are capable of,” he said.

(Source:
The Sun Daily
)

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Check Your Credit Score For Free Today

Have you ever been rejected for an application for a credit card or loan, only to wonder what is the reason behind that decision? Chances are, you may have been rejected because your credit score wasn’t high enough.

A credit score is a measure of how much creditworthiness you have. Banks and financial institutions obtain your credit score from credit reports provided by licensed credit reporting agencies in order to decide whether or not to give you a credit card or let you obtain a loan.

Therefore, it makes sense to obtain a credit report so that you can see for yourself how bad or good your credit score is. An example of one of the credit reporting agencies that you can get your official credit report from is CTOS. Established in 1990, CTOS is Malaysia’s leading credit reporting agency, operating under the Credit Reporting Agencies Act 2010.

In addition to your credit score, you can expect to find more useful information in your CTOS credit report. You will have access to your directorship and business interest records with the Companies Commission of Malaysia (Suruhanjaya Syarikat Malaysia or SSM), litigation and bankruptcy history and proceedings, and trade referee listings. You can also view your Central Credit Reference Information System (CCRIS) records with Bank Negara Malaysia and dishonoured cheque records. Moreover, you are eligible for rewards with CTOS partners depending on how high your credit score is.

All this information is important as it allows you to monitor the status of your credit health. This can allow you to increase your chances of getting your loan application approved, as well as grant you a speedier loan approval process. Getting a credit report can facilitate your personal financial planning and help you towards fairer credit decisions too.

Get Your Free MyCTOS Score Report

CTOS offers three types of credit report that you can get. Its basic report is free of charge and gives you some insight into your trade, business, and litigation records, but doesn’t actually tell you what your credit score is. The MyCTOS Basic Report which normally costs RM25 per report and covers the basics of your credit history as well as providing you with your credit score. Lastly, the CTOS SecureID costs RM99 per year and offers additional features such as missed payment and new credit application alerts.

However, if you sign up for the MyCTOS Basic Report through RinggitPlus, you will be able to get a copy of your credit report (worth RM25) for free! Just head on over to the
CTOS website here
 and provide some basic information – and then your free MyCTOS Basic Report containing your credit score will soon be yours.

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AmBank credit card holders enjoy up to 48 months 0% EPP

Looking to get the latest gadget or upgrade your household appliances? Well, you’re in luck if you carry an AmBank credit card.

The bank is giving its credit card holders a
0% Extended Payment Plan (EPP) of up to 48 months on electrical goods at selected hypermarkets
. These include Giant, Tesco and AEON/AEON Big outlets.

As always,
terms and conditions
 apply.

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HLB Rolls Out Suara-Suara Raya Campaign, Offers Rewards For Key Products And Services

Hong Leong Bank (HLB) has launched its Suara-Suara Raya campaign in conjunction with the upcoming Hari Raya celebration. Ongoing until 11 June 2021, the campaign features a range of rewards and incentives to encourage Malaysians to make the most out of their Raya by taking steps towards a stronger financial future.

According to HLB, the campaign will provide exciting rewards and cashback for key products and services which customers can easily access via HLB Connect, the bank’s online and mobile banking platform. These include offers for current and saving accounts, fixed deposits, ASNB unit trust, personal loans and financing, as well as credit cards.

Some worthwhile offers that HLB customers could tap into include:

Open a 3-in-1 junior account/-i via HLB Connect Online to win up to RM100 e-duit raya and the chance to win a home school setup worth RM5,000

Open a 3-in-1 junior account/-i to enjoy a preferential rate of 3.00% per annum for six months

Open a new HLB account at the HLB Official Store on Shopee to earn up to 2,000 Shopee Coins

Send e-duit raya via HLB Connect mobile app to win from a cashback pool of RM190,000

Place deposits in term investment account-i to get rates of up to 2.50% per annum for 12 months, and the chance to win up to RM2,500 duit raya

“As a community bank, we take an active interest in making a difference in the future of our customers and the communities we live in. We will always encourage Malaysians to take advantage of opportunities to either strengthen their financial position, or start planning to ensure a financially sound future. Hence, we are offering rewards and promos to encourage wealth building opportunities for customers, especially the youth and those who have yet to step towards planning for financial freedom beyond the pandemic,” said the group managing director and chief executive officer of HLB, Domenic Fuda.

Aside from the offers, HLB’s Suara-Suara Raya campaign also aims to bring some Raya cheer to the community by collaborating with the Malaysian busking community and entertainers to host a
Suara-Suara Raya
live concert via Facebook on 21 May 2021. Several local buskers also teamed up with the bank to produce a festive video for the campaign. This is in addition to a
raya
guide that the bank prepared on how to make the most of this year’s Raya celebrations, covering topics for the festival’s preparation such as fashion, home décor, and fitness.

To find out more about HLB’s
Suara-Suara Raya campaign
, head on over to the bank’s official website.

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About THE AUTHOR

Alex Cheong Pui Yin

Alex Cheong Pui Yin

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

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KKD Ministry Holding Talks With Telcos To Reduce Prices Of Services

(Image: The Sun Daily)

Communication and Digital Minister Fahmi Fadzil said that his ministry has reached out to telcos to discuss the possibility of reducing the prices of services offered by them.

“I am holding talks with the Malaysian Communications and Multimedia Commission (MCMC) and telcos to explore ways to reduce costs. Many young people are hoping that the prices for internet and lines can be reduced. So I have asked them to look into what we can do now. Maybe in the coming weeks I will have a special announcement to make,” said Fahmi, adding that he has also asked the relevant parties to conduct a study for this purpose.

In addition to that, Fahmi shared that he was also looking into the most effective way to resolve issues of 4G and 5G network reach in certain areas, as well as to improve the quality of these services.

(Image: Malay Mail/Mukhriz Hazim)

“We are talking about 5G, (but) some countries have started discussing 6G. So we have to move faster, and as the minister responsible, I need to explore ways to help this process,” Fahmi said.

The minister also took the opportunity to remind content creators to abide by the law as they produce their works. “There are limits. We respect the right to freedom of expression, but we also need to uphold the law, as spelt out in the Rukun Negara…Supermacy of the Constitution; Rule of Law,” he stressed.

(Source:
Malay Mail
)

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Alex Cheong Pui Yin

Alex Cheong Pui Yin

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

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Save The Environment And Pay Your Indah Water Bills Online

If you’ve been following the news – or even the local weather – over the past few years, the term “climate change” (and its consequences) would probably be familiar to you. With carbon emissions causing global warming and increasing temperatures, both individuals and governments have been pushed to make a change and do their part for the environment.

The paper and pulp industry is one of the largest contributors to global warming, resulting from massive deforestation worldwide. According to the
Global Forest Resource Assessment
, an estimated 80,000 to 160,000 trees are cut down on a daily basis to make way for the paper industry, with a total of 24 trees producing 1 tonne of printing paper. What’s more is that paper manufacturing contributes to air pollution as well as contaminates 20,000 gallons of water per 1 tonne of paper produced. With
deforestation being responsible for 10% of all global warming emissions
, it is then easy to grasp the importance of minimising paper production.

Going green on the individual level by simply reducing, reusing and recycling waste can have massive economic benefits, if done communally. After all, it directly correlates with our carbon footprint, and the survival of our very species!

In accordance with this, Indah Water Konsortium (IWK) has launched its initiative to go paperless. Under its plan to go green IWK is encouraging its customers to convert their billing methods to e-bills by June 2020. Once done, customers will receive email notifications as soon as their sewerage bill is ready, instead of a bill via post. With the e-bill, customers will benefit by easily having access to their bills anytime, anywhere.

IWK customers can
register for e-billing through its

official website.
 Since the e-bill’s launch in June 2018, IWK has seen more than 200,000 registrations nationwide, making the prospect of a paperless service very promising.

The national sewerage company also offers a mobile application for both iOS and Android phones which allows customers to check their balance and make payments conveniently. Customers can
learn more about the mobile application on IWK’s website.

Effective January 2020, IWK has also announced that it will be changing the billing cycle to every six months instead of the previous four-month cycle, meaning customers will receive their IWK bill twice a year. The new cycle will only involve domestic customers, including government quarters. In this way, by eliminating the need for paper bills through the e-bill service and expanding the billing cycle, IWK intends to do its part for the environment, particularly in saving our trees.

The company too hopes that these initiatives will assist it in regard to its tariff model. Since IWK began operating, billing charges have stayed consistent while revenue gaps have increased due to rising operating expenditures, along with the high risk factor of its services and facilities. Going paperless, combined with the adjustment in tariff will then be helping IWK to be independent of larger government subsidies, all while improving the company’s sustainability.

In such a win-win situation, IWK manages to sustain its business model and simultaneously prove its environmentally-conscious beliefs. For more information on IWK’s e-bill service and mobile applications, customers may
visit its official website.

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    Thiam Choon Joo

    3 years ago

If using e-billing reduce ur paper. What to reduce the rate of from 21 Blok Tarif (m3). Is a big jump from Rm0.80 to Rm2.00. Think about it.

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ShopeePay Is The First E-Wallet Of An E-Commerce Platform To Join DuitNow Ecosystem

(Image: FintechNews Malaysia)

Shopee has announced that its e-wallet,
ShopeePay
, will soon join the DuitNow ecosystem operated by Payments Network Malaysia (PayNet). It is the first e-wallet of an e-commerce platform to do so.

The new partnership means that Shopee users will soon be able to instantly and seamlessly transfer funds between their ShopeePay and bank accounts, as well as with other e-wallets. However, these transfers are only possible if the banks and the other e-wallets are also part of the DuitNow ecosystem. Currently, as many as 40 banks and 5 e-wallets have registered their participation in the DuitNow ecosystem.

Shopee’s collaboration with PayNet also means that ShopeePay will be adopting the
DuitNow QR
, Malaysia’s national QR standard. In other words, Shopee users can soon shop with offline merchants that accept payments via DuitNow QR.

Additionally, the Shopee-PayNet partnership will see the e-commerce platform being involved in the pilot launch of DuitNow’s second phase, dubbed DuitNow 2.0. DuitNow 2.0 will introduce several new payment and collection solutions, such as request-to-pay, real-time debits, and consents on-file.

Request-to-pay is essentially a safer and more convenient payment method that can be used at a participating merchant’s e-commerce website or app. Real-time debits and consents on-file, on the other hand, let customers enable their accounts to make recurring payments to merchants.

“We are excited to have Shopee as an early adopter of DuitNow 2.0 which will allow Shopee customers to shop and checkout seamlessly. The combination of real-time debits and consents on-file will significantly improve the payment process, and customers can enjoy a convenient and hassle-free transaction,” said the group chief executive officer of PayNet, Peter Schiesser.

(Image: The Malaysian Reserve)

Prior to Shopee,
GrabPay
 was the first e-wallet provider to announce its partnership with PayNet to join the DuitNow ecosystem in November 2019. It was then followed by
Touch ‘n Go eWallet
.

DuitNow
 was first launched in 2018, and is an interoperable system that enables real-time money transfers between e-wallets and banks. Unlike conventional fund transfer services which require the recipient’s bank account number and bank name, DuitNow transfers funds using your DuitNow ID instead. This could be your mobile numbers, MyKad, or business registration numbers.

(Source:
FintechNews Malaysia
)

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

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Grab X Maybank Credit Card: Earn up to 8X GrabRewards & More

A lot of us use our credit cards and e-wallets for nearly all purchases, from buying groceries and lunch to the newest electronic gadget we’ve been waiting months for. As frequent users, we often seek new ways to earn extra value such as cashback and loyalty rewards in order to get the most out of our money’s worth.

One of Malaysia’s leading e-wallets, GrabPay has got a handful of new rewards waiting to be claimed with the
Grab X Maybank Credit Card
, which offers unlimited earnings of up to 8x GrabRewards with every spend.

Keep reading to find out how you can reap the rewards!

Get Up To 8x GrabRewards

Did you know that you could enjoy up to 8x GrabRewards by reloading your GrabPay Wallet? If you’re an avid Grab user or are simply interested in exploring GrabPay’s offering, here’s a breakdown of how you can collect your share of GrabRewards:

First, simply top up your GrabPay Wallet with the Grab X Maybank Credit Card to enjoy 5x GrabRewards. By the way, did you know that this is the only Maybank card that offers rewards for e-wallet top-ups?

Next, use your GrabPay Wallet for all your purchases, including Grab’s in-store and online merchant partners, to earn an extra of up to 3x GrabRewards!

So let’s say you’ve reloaded RM200 into your GrabPay Wallet using your Grab X Maybank Credit Card. You’ll then get 1,000 GrabRewards just by topping up. When you decide to spend that RM200, you could receive up to 600 extra GrabRewards – depending on your Grab membership tier.

In short, you could potentially earn 1,600 GrabRewards, which is equivalent to RM10 – giving you an effective return of up to 5% of your initial reload. This reward could then be used to offset your use of any of Grab’s services.

***

If you enjoy spending your time browsing the Grab app on your mobile phone and use GrabPay for all your e-wallet purchases, consider signing up for the Grab X Maybank Credit Card. Now that travel restrictions have been lifted, you can also earn GrabRewards when you use it overseas!

Visit the website
 to learn more about the Grab X Maybank Credit Card and its variety of rewards.

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Form Six And Diploma Students Are Also Entitled To RM200 IPT Aid

(Image: The Star)

Students who are pursuing their education in Form Six, diploma, and other equivalent qualifications are now also entitled for the RM200 one-off payment given to full-time students at higher learning institutions (IPTs). Additionally, the payment of the financial aid will be brought forward to the end of April 2020 instead of the originally scheduled end of May 2020.

According to the Finance Ministry, the aid has now been expanded to include those who are studying in institutions under the Human Resources Ministry, Youth and Sports Ministry, as well as Majlis Amanah Rakyat (MARA).

“With the inclusion (of these students), the allocation will be increased from RM270 million to RM300 million to benefit about 1.5 million students,” said Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz.

(Image: Malay Mail)

Of the total number of students eligible for the aid, 1.2 million are students from public and private institutions, polytechnics, and community colleges under the Higher Education Ministry. Form Six and matriculation students make up another 100,000. Lastly, the remaining 200,000 will consist of students pursuing diploma, technical and vocational education and training (TVET), or Malaysia Skills Certificate Level 4 (SKM4).

In the
statement
, Tengku Datuk Seri Zafrul also said that he hoped this disbursement will ease the burden faced by students during the period of movement control order (MCO).

Prior to this, Prime Minister Tan Sri Muhyiddin Yassin had announced the
RM200 one-off payment for IPT students
 under the
Prihatin Economic Stimulus Package
. It was intended for those enrolled in matriculation courses, community colleges, polytechnics, as well as public and private higher education institutions under the Higher Education Ministry.

(Source:
The Star
)

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Alex Cheong Pui Yin

Alex Cheong Pui Yin

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

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Hari Raya: 5 Ways To Save Money On Raya Outfits

Hari Raya is just a few weeks away! It’s the time to start planning on your new Raya outfits, but we’re sure some of you might have some concerns about spending too much – especially when there are other expenses to consider when it comes to celebrating Hari Raya. With that, here are some tips and ideas to help you save some cash on your Hari Raya outfits.

Sift through Your Wardrobe

We begin our list by suggesting you to first look through your wardrobe. We know what you are thinking.: new clothes are a must-have for any festivities, especially Hari Raya. But do consider the fact that there may be some outfits that you have only worn very rarely (or even not at all!) By sorting your wardrobe, you have an idea of what else you need and avoid overspending. While at it, you can even try sprucing some of these clothes with minor alteration or accessories.

Sorting through your wardrobe is also a good opportunity to do some spring cleaning. If there are clothes (in good condition) that do not fit anymore, you can always pass them down to your younger siblings or relatives. As such, you get to help them spend less and reduce wastage. Even better, you can always donate them to charity. After all, Hari Raya is a season for moderation and sharing.

Visit A Thrift/Consignment Store

Image: Marie France Asia

Aside from sifting through for unused clothes, you can also continue your search at a thrift store. Okay, it seems a little unusual for us to suggest shopping at a consignment store for Hari Raya Aidilfitri attire. That said, these stores may be an interesting alternative – especially if you’re looking for something unique.

A good amount of consignment stores stock items that are usually rarely used – if you’re lucky, they may even be brand new. This makes it a haven for looking for custom, one-of-a-kind items that truly stand out – and for a bargain. Thrift stores also inspect second-hand items before selling them, and will not put the items on sale if they are deemed not of an acceptable standard.

At the same time, you can also donate your older or unused outfits at these stores.

Go Online

Shopping online gives you the benefit of avoiding traffic and not having to pay for parking, which means you’re already cutting down on two types of expenses. Secondly, e-commerce sites like Lazada, 11street, and Shopee provide Ramadhan sales or discounts on Raya attire, which is another incentive for you to skip a trip to the mall. Some retailers like Uniqlo and Cotton On also have their own online platforms to allow their customers to shop with ease.

Most of these shopping platforms offer even better discount on their respective apps. For example, Lazada has apps-only voucher codes, while Shopee has time specific in-app events where you can win vouchers. These apps are all free to download anyway, so there it is always better to shop in-app.

Use A Cashback Credit Card

While you continue your shopping adventures, you should not forget to use your cashback credit card. As the name suggests, you can get cash rebates for every transaction made with these cards. For example, some
Maybank cashback credit cards
 provide their user with a 5% cash rebate for all types of purchases, while some
HSBC’s cashback credit cards
 provide a 8% cash rebate for groceries and petrol.

That said, you need to pay attention to the terms and conditions of your cashback credit cards, such as monthly caps and types of purchase. For instance, while the Maybankard 2 credit cards provide a 5% cash rebate for all purchases, they have a monthly cap of RM50, apply only on weekends, and applicable to the American Express card only. This means you’ll need to plan your purchases for weekends, and in stores that accept American Express cards.

Likewise, the 8% cash rebate on the HSBC credit card is only applicable on petrol and groceries – and the cumulative spend per month on these two categories must be above RM2,000. As such, you need to be aware of the terms of your credit card to reap the maximum benefit and avoid overspending.

Set Aside A budget, And Stick To It

With all the talk about discounts and cashback, you should never forget that you are still spending money. Even though you may potentially save a lot on discounts and cashback perks, you should always keep track of how much you have spent. There are other expenses you need to be aware of like your petrol expenses for Balik Kampung, Duit Raya for your children, your Ramadhan food expenses for Buka Puasa, and maybe even a Raya gift or two to the special people in our lives.

One way to help you with budgeting is to install a
spending tracker
 on your phone to track your expenses and income. In fact, you can easily find these apps on Android and iOS for free. You can also discuss with your loved ones on the items you need to buy and budget them accordingly.

Another helpful budgeting tip is to impose a
Daily Default Purchase Limit
 on your credit card. This feature functions by declining any transaction that exceeds the daily limit set by the user, which is useful for controlling your spending urges. However, this is also a potentially risky move, since it will render your card useless in the event of an emergency. As such, consider this only if you really have to.

It is easy to get carried away while shopping during the festive season because it is one of the best times to actually stretch our Ringgit with all the Hari Raya promotion available. That said, the tips mentioned here lets you get even more out of your money, while also potentially doing good by practising moderation. With that, we wish you all a Happy Hari Raya Aidilfitri.

Looking for a cashback credit card? You can use
our comparison tool
 to find one that suits you. Got any other ways to save money on Raya outfits? Write your thoughts in the comment section below!

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Budgeting

Cashback Credit Cards

Discounts

E-Commerce

Hari Raya Aidilfitri

Money-Saving Tips

Ramadhan

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About THE AUTHOR

Brian Chung

Brian Chung

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