Bursa Malaysia: More Women Investors Participating In Stock Market

(Image: The Star)

The chief executive officer of Bursa Malaysia, Datuk Muhamad Umar Swift has commented that Malaysia is seeing an increasing number of new women investors who are participating in the stock market.

Datuk Muhamad Umar said that according to data from the local bourse, 36% of new Central Depository System (CDS) accounts that have been opened year-to-date belonged to women investors. Additionally, 32% of the CDS accounts in 2020 were held by women, which subsequently rose to 34% in 2021. To clarify, all new investors must open a CDS account if they wish to trade on Bursa Malaysia; it is where you conduct your trading and keep track of all your stock holdings.

Moreover, Datuk Muhamad Umar said that 30% of the total trade value in 2021 was made by women investors, and that women’s total trade volume had surged by 194.1% between 2018 and 2021. He further remarked that various studies have recognised women’s competence in investing as compared to men, with portfolios managed by them often outperforming those overseen by their male counterparts.

(Image: The Malaysian Reserve/Arif Kartono)

“In 2021, a study by Fidelity Investments showed women investors achieved positive returns and surpassed men by 0.4% on average in terms of annual performance between January and December,” stated Datuk Muhamad Umar. Despite this, there is still much to be done to encourage the participation of women investors.

As such, Bursa Malaysia has launched a few campaigns in conjunction with its celebration of the International Women’s Day. This includes the #EqualityForEquity campaign, where Bursa Malaysia and participating brokers will waive the RM10 opening fee for the first 4,000 women who open their CDS account via the Bursa Anywhere app.

On top of that, there is also the #MyFirstTrade campaign, where women investors are invited to contribute stories of their first trade in the stock market. Twenty of the most inspiring stories will be selected to win a Touch ‘n Go (TNG) eWallet reload PIN worth RM100. Both campaigns will run until 31 March 2022.

(Sources:
Bursa Malaysia
,
The Edge Markets
)

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About THE AUTHOR

Alex Cheong Pui Yin

Alex Cheong Pui Yin

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

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CIMB To Cap Bonus Points Earned Via Local Spend On Travel World Elite Card

CIMB Bank has announced a revision to its Travel World Elite 8x Bonus Points campaign, which will soon limit the amount of Bonus Points (BP) that CIMB Travel World Elite credit cardholders can earn on various local spend. Set to take effect from 1 September 2023, this includes the introduction of an overall cap on the total points that you can earn via local spend in a statement cycle, as well as specific caps on the points that you can earn for selected local spend categories per statement cycle.

At present, CIMB Travel World Elite cardholders are allowed to earn unlimited 10 BP for every RM1 spent on overseas spend (inclusive of hotels), airlines and duty free transactions, as well as a special
temporary benefit offered under the ongoing Travel World Elite 8x Bonus Points campaign
 to celebrate the launch of the card. This benefit, which is set to end on 31 December 2023, provided cardholders with an additional 8 BP for every RM1 spent on all other local retail spend, on top of the base 2 BP. This effectively allowed cardholders to earn 10 BP on all retail spending.

Once the campaign ends, all local spend (aside from airlines and duty-free expenses) will only be awarded the base 2 BP for every RM1 spent – unless the campaign is renewed.

With the implementation of this latest update in September, however, existing CIMB Travel World Elite cardholders will soon be limited to a maximum earning of 1,000,000 BP for all local spend (aside from airlines and duty-free expenses) in a single statement cycle. Additionally, there will be a cap of either 50,000 BP or 100,000 BP introduced for selected spend categories (under local spend), as listed out in the table below:

Spend category
Campaign BP
Total campaign BP cap per statement cycle
Transportation
10 BP (2 BP base + 8 BP additional)
50,000 BP
Supermarket/hypermarket
10 BP (2 BP base + 8 BP additional)
50,000 BP
Utilities
10 BP (2 BP base + 8 BP additional)
50,000 BP
Professional services
10 BP (2 BP base + 8 BP additional)
50,000 BP
Insurance
10 BP (2 BP base + 8 BP additional)
100,000 BP
Mail and telephone orders
10 BP (2 BP base + 8 BP additional)
100,000 BP
Telecommunication
10 BP (2 BP base + 8 BP additional)
100,000 BP
Automobile
10 BP (2 BP base + 8 BP additional)
100,000 BP
Retail
10 BP (2 BP base + 8 BP additional)
100,000 BP

Effectively, this revision will affect heavy users of this card, as the imposition of a monthly limit per category combined with the 1,000,000 BP cap means you won’t earn the accelerated rate after spending either RM5,000 or RM10,000 per category. In addition, the removal of the redemption of BP for cashback for all CIMB credit cards (
which was also announced today
) also means the CIMB Travel World Elite is no longer an “unlimited cashback credit card” that offered 2.5% effective returns on all retail spending.

That said, the CIMB Travel World Elite card remains one of the best credit cards for travellers. Fortunately, CIMB has not revised the 10x BP accelerated earn rate for Overseas, Airlines, and duty free store transactions, as well as the air miles redemption rates. Its other generous travel perks – such as the 12x access to Plaza Premium First, Plaza Premium Lounges, and affiliated lounges worldwide, as well as hotel benefits – also continue to make it a valuable addition to your collection of cards if you travel often.

Alongside this amendment to the CIMB Travel World Elite 8x campaign, note that CIMB also announced several other concurrent revisions that will impact the bank’s overall credit card portfolio – including the CIMB Travel World Elite card – come 1 September. Specifically, CIMB is set to
terminate the redemption of BP for cashback, and will also stop awarding cash rebate, rewards or BP for DuitNow QR transactions
.

If you’re one of those who have been earning BP via your CIMB Travel World Elite card with the intention to redeem cashback under the Member Rewards Programme, remember to do so before these revisions come into effect.

(Source:
CIMB
)

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Is Your Partner A Good Financial Match?

Finding a partner isn’t only confined to having the right combination of personalities; wealth; or aesthetics. One of the most important aspects that most people tend to overlook when looking for a partner is being a good financial match.

In
a report on divorce by the Malay Mail in 2014
, financial instability was said to cause a lot of problems in marriage alongside the stresses of modern life. If this is so, it is best to start paying more attention to the money attitudes of your partner.

Here are 5 steps to find out if he/she is the right person for you – in the money management sense.

1) Understand Your Spending Behaviour

First things first, always start with yourself before you start making any comparison between you and your partner. As much as it’s important to check your partner’s financial standing, its also important to understand your own.

Whether you are heavy spender; or a penny-pitcher, understanding yourself would be the first step in approaching this matter. Questions to ask yourself: “Are you a saver or a spender?” or “Do you have monthly credit card bills already up to your eyeballs?”. If you realise that you’re the one dealing with financial problems, it’s time for ‘the talk’ with your partner.

But more than anything; you need to be willing to work with them and not against them.

2) Observe Your Partner’s Spending Habits

Does your partner swipe his/her credit card on unnecessary purchases; or do they take the time to weigh his options before making any purchases? These behaviours could very well relate to his attitude towards money. We aren’t saying that you should watch him/her like a hawk; but it’s rather something you could catch on much later as you go further into the relationship.

However, try not to pass on any judgment as it is just a way for you to know them better. If you notice a habit or two that concerns you, you can have a more illuminating talk later.

3) Know Your Partner’s Financial Health

What dictates good financial health? The obvious things are such as someone with a steady flow of income; diligently paying off his debt; and have one; or a few savings to fall back on. This is probably an ideal and not everyone will check off everything on the list but if you notice him/her making a good effort, that’s probably not such a bad thing.

Asking your partner’s salary is a touchy topic and not everyone may be willing to share this, at least not too early in the relationship. Don’t be disappointed if your partner is not so forthcoming with exact numbers but do talk to them about the importance of proper sharing of household expenses and how it easier to decide who pays what if everyone’s capability is known.

The point isn’t about controlling each other; it’s about the best use of a joint income.

Also, you wouldn’t want to be shocked later on in marriage by your partner’s ginormous debt, which is most likely now a household burden. Similarly, be honest about your own debt and financial health.

4) Financial Goals

Do you have shared financial goals? When you and your partner have the same financial goals in mind, both of you would be more likely to take one for the team. Working on those goals might be easier. However, having conflicted goals will make things harder.

If you are aiming to live large and have a successful career while he’s only aiming to live a carefree and simple life until retirement; that may not go well with the both of you.

Communication is key; at least talking about your financial goals allow the both of you to come out with a middle ground which both of you can work on. Don’t be afraid to talk about money. You will be surprised to find out how much you can learn about a person.

5) Attitude is Everything

After the long and honest talk; you now know where you both stand. Perhaps you are polar opposites – one spending money like water and the other stinging or maybe you both spend a lot and have no financial cushion to fall back on. Does this mean your relationship is doomed? Of course not.

Whilst all the other questions serve as a way to get to know your partner’s habits and financial standing, the true determinant will actually be both of your attitudes. Whether your money habits are exactly the same or not; whether your savings funds are healthy or in dire need of resuscitation; it will work or not work in your favour based on how the both of you operate together.

Here are some key things to remember always:

1) If your partner is having financial trouble; he/she should be willing to change and work at making things better. Even if this means letting go of the reins of money management to you;

2) If you are the one with the problem; be honest and ready to change;

3) If you both have a problem; take joint corrective steps to get ahead by hiring a personal finance coach or automating savings;

4) Be each other’s guide and motivator.

Relationships are a melding of two very different individuals so it is difficult to have a cookie-cutter solution to the problems that couples face. More often than not, even the most dire situation can be mended if both individuals are conscientious and willing to change for the better.

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Why China's Spurned "99 iPhone 6 Proposal" Man Still Wins the Internet

Whilst you wait in line or stalk eBay auctions in the wee hours for that one iPhone 6 that will make your life complete (until the iPhone 7 of course);
this dude in China has 99 of them
. Yes, you’ve probably all heard of the story of the Chinese developer who proposed to whom he thought was his equally geeky girlfriend. Unfortunately, the girl wasn’t entirely impressed with the 99 iPhone offering and turned the guy down.

Though it’s possible he may have fared better by buying her 99 pairs of shoes (we’ve yet to meet a lady who would say no to shoe shopping); there’s no sense crying over spilt iMilk. So what now will become of surplus phones?

$82,000 Poorer; 99 iPhones Richer: What Now?

We’re not even sure how he got so many. Money aside (approximately a whopping $82,000/RM274,000); how many Chinese Mafiosi did he have to pay to get this many? Or did he bribe 98 people to stand in line with him?

But whilst some reports are asking what the man will now do with his 98 (we’re guessing he wants to keep one for himself) iPhones – we’ve got some suggestions that should make him enough money to take the sting out of that rejection.

Sell to countries hit by US trade sanctions.
 In
a report by TIME
; countries hit by US trade sanctions will have a hard time buying iPhones (not impossible thanks to the dawn of e-commerce). Some of the noted countries on the sanction list are North Korea, Sudan, Iran, Syria and Cuba. Although, the sale of iPhones would only interest the richer folks in these countries; we’re sure he can find 98 of them. He could try
Cuba’s Nouveau Rich
, the Rich Kids of Tehran, or
Pyongyang’s Elite Luxury Shoppers
.

Sell to those waiting in line in countries due to receive their iPhone 6 shipment
. According to
tech sites; November 14th is the date of the next iPhone 6 rollout
 for countries such as Brazil, Philippines, Colombia, Costa Rica, Chile, Uruguay, Guatemala, Lebanon, Kenya, Nigeria, and what do you know; Malaysia. How much would you pay not to line up for hours or even days? If Mr 99-iPhones could sell each of his 98 surplus phones for an additional $50 (RM167); he’d have made an additional $4,900 (RM16,376) in profit. He could use this to pay for the flight and free holiday in whichever country he chose to stalk iPhone buyer queues. We (Malaysia) and the Philippines are pretty close to China. Maybe
AirAsia
 might sponsor a ticket for the publicity.

Be a fanboy scalper and sell the phones for a killing on eBay or anywhere you can pitch a tent (close to where the fanboys gather).
 Scalpers exist for every product where there appears to be more demand than supply or if the process of buying is unusually painful (re: waiting in ridiculous queues for more time than it probably takes to make the item). Scalpers typically have no intention of owning the item; they buy lots of it to resell to actual interested buyers for a killer profit. Sometimes called Secondary Market; money really talks here. Chinese scalpers were
reported to be squatting right outside shops in Hong Kong selling their iPhones
. We did entertain the possibility that iRomeo here may actually have had the intention to be a scalper all along and the girlfriend on Singles Day was the perfect ruse for free marketing: because now everyone knows who he is; where he is and that he has a surplus of 98 iPhones.

And that’s Why He Wins

Think about it: whether or not said girlfriend gave him a yes or no; he would
still have at least 97 iPhones
 (we’re assuming he would give her one) to sell at ridiculously high prices on the secondary market. In fact, her response is pretty much immaterial. This stunt garnered this dude so much publicity; there’ll be no end to fan-girls and boys knocking at his door for an iPhone.

You sir, just won the Internet.

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Civil Servants Spend More Than Half Of Their Salary Repaying Debts

An article published by Bank Negara in its latest Financial Stability Review, “Civil Servants’ Debt: Risks and Policy Considerations” reveals that civil servants spend 52% of their salary repaying debts, which is 20% higher than the national average.

About two-thirds of civil servants earn less than RM5,000 per month. After they make their monthly loan repayments and spend on food, utilities, and other basic necessities, they would have only about 15% of their salary (RM360–RM586) to save or spend on non-essential things like communication or clothing. This means that civil servants in this income group tend to be left with very limited buffers to deal with financial shocks.

The profile of the 1.26 million civil servants that were part of Bank Negara’s study is as below.

(Image: Bank Negara)

Almost all civil servants were found to have some form of borrowings, with 62% of credit obtained from NBFIs. NBFIs are non-bank financial institutions, which do not operate under the same regulatory supervision that banks do. At national level, only an average of 18% borrow from NBFIs.

The study also found that 47% of the loans made by civil servants are consumption loans (borrowings for personal financing, motor vehicles, credit cards) compared to 35% at national level. The debt repayment capacity of civil servants’ debt repayment capacity also remained lower than the average borrower at the national level.

According to Bank Negara, the mere fact that the civil servants are in debt doesn’t pose a big risk to the country’s financial stability. However, the high percentage of borrowings from NBFIs and weak financial resilience could lead to an increase in financial hardship within this group of borrowers. The policy considerations suggested to overcome this situation include speeding up the future Consumer Credit Act and the formulation of a national strategy for financial literacy.

If you want to increase your awareness on financial matters, keep an eye out for our future articles on making informed financial decisions here at
RinggitPlus
. Remember, Bank Negara’s
Credit Counselling and Debt Management Agency (AKPK)
 also offers free debt management and counselling programmes, so you can always get in touch if you need help with your financial problems.

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PRIHATIN Economic Stimulus Package: One-Off Cash Aid For M40 And Below

To relieve the burden of the
rakyat
during the Covid-19 pandemic, the government will be giving out Bantuan Prihatan Nasional payments – one-off cash aids with a total allocation of almost RM10 billion. Also known as the National Caring Aid, Malaysians in the M40 group and below will be eligible to receive these one-off cash payments.

As stated by Prime Minister Tan Sri Muhyiddin Yassin, both B40 and M40 will be eligible to receive:

RM1,600 for households earning RM4,000 and below

RM1,000 for households earning RM4,001 – RM8,000

RM800 to single individuals 21 years and above earning RM2,000 and below

RM500 to single individuals 21 years and above earning RM2,001 to RM4,000

RM200 per student in higher education.

The aids above will be distributed in two stages: the first of which will be paid out to eligible recipients in April, and the second round in May. On top of that, the balance of the ongoing Bantuan Sara Hidup (BSH) payments amounting to RM3.2 billion will be paid out in July.

The benefits are laid out in a bit more detail in the table below:

Eligible category

Amount of cash aid

Expected recipients

Payment schedule

Households earning RM4,000 and below

RM1,600

Up to 4 million households

Payment of RM1,000 in April and RM600 in May

Households earning RM4,001 – RM8,000

RM1,000

Up to 1.1 million households

Payment of RM500 in April and RM500 in May

Single individuals aged 21 years and above earning RM2,000 and below

RM800

Up to 3 million individuals

Payment of RM500 in April and RM300 in May

Single individuals aged 21 years and above earning RM2,001 to RM4,000

RM500

Up to 400,000 individuals

Payment of RM250 in April and RM250 in May

Students in higher education institutions (including matriculation, community college, polytechnics, private institutions and public institutions)

RM200

Up to RM270 million in allocation

Payment of RM200 in May

These benefits were announced as part of the government’s RM250 billion economic stimulus package to combat the negative impact of the Covid-19 pandemic, also known as Pakej Rangsangan Ekonomi Prihatin Rakyat. This stimulus package, the second to be released by the Malaysian government since the start of the Covid-19 situation, was announced today by Prime Minister Tan Sri Muhyiddin Yassin at 3pm.

Find out how to apply for the
Bantuan Prihatin Nasional
 aid here.

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    Pat

    3 years ago

How to actually submit application for this ?

3

Reply

    Tony

    3 years ago

How to claim this? Or should I apply for it?

1

Reply

    vincent chuah ming keat

    3 years ago

where can i get the application form?

0

Reply

    Cheah

    3 years ago

Nice layout info. How can we apply? Thanks for advising.

0

Reply

    ECLH

    3 years ago

How to apply?

0

Reply

    Lai Yen Foon

    3 years ago

How and where to apply

1

Reply

    Tam

    3 years ago

How does one apply for the National Caring Aid ?

0

Reply

    Lo Mau Ken

    3 years ago

Kindly advise on how to apply for the assistance as announced by our PM yesterday.

0

Reply

    Grace

    3 years ago

I wanted  to find out is this bantuan prihatin we have to fill up the form again  or they bank in to our account.

0

Reply

    Jenn

    3 years ago

Hi, does anyone know where we can apply?

0

Reply

    CH'NG KIEW BOK

    3 years ago

how to appear?

0

Reply

    Shafri

    3 years ago

Why provide RM200 per student in higher education for estimated RM270 mil which can pump into SME grants?

Baffled with Tengku Zafrul, MOF plan.

0

Reply

    Hc Lau

    3 years ago

How to get the cash – where is the registration for M40??? Give news also give information Lah.. otherwise waste of time!

2

Reply

    Pang Tun Yau

    3 years ago

    Reply to

        Hc Lau

At the announcement, even the government had not given any information on how it would be disbursed. How it will be done was only shared a few days later:

https://ringgitplus.com/en/blog/personal-finance-news/how-to-apply-for-the-bantuan-prihatin-nasional-bpn-aid.html

0

Reply

    Palaniammah Kandasamy

    3 years ago

How can people go about applying for these aid.

Also will the adhoc part time workers and odd job workers be eligible for this aid

1

Reply

    george

    3 years ago

Hi ,How come I as a senior citizen of Malaysia have no privilege of any Prihatin eco stimulus  except Penang state gov. RM150.00 per yr only

0

Reply

    Lui chun aun

    3 years ago

I nak mohon bsh gov

0

Reply

    semaadderi a/l geddon eranaidu

    3 years ago

MACAM MANA HENDAK ISI BORONG PERMOHONAN UNTUK PERIHATIN NASIONAL KALI PERTAMA

0

Reply

    Yogarathai

    3 years ago

How to apply for M40 group

0

Reply

    Prem Kumar

    3 years ago

Can I get the Borang I lestari  link for apply . 🙏🏻

0

Reply

    kway

    3 years ago

where to apply

0

Reply

    Lim Voon Khean

    3 years ago

I am qualified and LHDN has approved. How can I get the money?

-1

Reply


Primary School Students set to be taught to Manage Money in 2014

Bringing finance into the classroom.

If all goes well in the plans of the Education Ministry and Bank Negara to teach financial literacy in schools by 2014 as reported by the
News Straits Times
; your child may likely be teaching you how to manage money.

In an effort to promote financial literacy and money management as a life skill; teachers will undergo training in the subject from next year onwards.

Bank Negara consumer and market conduct department director, Suhaimi Ali feels strongly about educating the young on financial management.

“We need sound financial literacy initiatives to ensure that students can effectively plan and sustain their retirement,” he said at a seminar on financial literacy and retirement savings organised by the Employees Provident Fund here yesterday.

He stressed on the increasing number of bankruptcy cases amongst the younger generation that showed a clear need to educate and build awareness from a young age on the risks of financial mismanagement.

“By 2015, we hope that financial education will be promoted as a life skill.

“There must also be greater access to information on financial management through interactive programmes and mobile applications, coupled with a network to drive financial education initiatives at the national level.”

But the initiative doesn’t end with the children. Suhaimi also took parents to task for indulging their children’s every whim without clear guidance on proper saving and spending habits.

“The initiatives should be fine-tuned to target parents, too, as they play a crucial role in advocating financial literacy to their children.”

The plan is a noble one but with
many teachers still grappling with teaching simple, compulsory subjects such as English
; it remains to be seen if the curriculum will serve the purpose for which is was intended or fail on execution.

Picture courtesy of CE Photo at Wikimedia Commons.

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Hong Leong Bank Introduces HLB Wallet With Multi-Currency, Instant Cashback Features

Hong Leong Bank has introduced its very own HLB Wallet, which is said to be “the only multi-currency e-wallet that rewards you with instant cashback for your spending”. Specifically, users will be able to earn up to RM10 instant cashback per month for selected expenses, as well as spend and trade in up to 12 foreign currencies.

Like many other e-wallets, the HLB Wallet – which has a default maximum balance limit of RM4,999 – will enable users to perform various transactions, including performing QR Pay payments, paying bills (inclusive of JomPay billers), and reloading your prepaid mobile. You can also make fund transfers to your own and other bank accounts, on top of being able to withdraw cash from your HLB Wallet at any HLB automated teller machines (ATMs).

However, the HLB Wallet slightly unique in that it is tied to customers’ HLB Connect access (which requires them to have an HLB savings account). This means that the money in your HLB Wallet is automatically protected by Perbadanan Insurans Deposit Malaysia (PIDM), which automatically protects your eligible bank deposits up to RM250,000 (for each depositor).

With regard to the instant cashback offered by HLB Wallet, users will be able to earn up to RM10 instant cashback per month when they perform selected digital payments with specified minimum amounts, including QR Pay transactions with businesses, bill payments, and prepaid reloads. Here are the full details on how you can earn cashback when using HLB Wallet:

HLB also highlighted in
its FAQ
 that customers
must
 make payments to business entities that are registered as DuitNow QR merchants in order to receive cashback under the “QR Pay to business” category. QR Pay transactions to merchants who receive payments as non-business entities do not qualify.

As for the multi-currency feature offered by HLB Wallet, users will be able to trade or spend in a total of 12 foreign currencies, namely:

Australian dollar (AUD)

Canadian dollar (CAD)

Chinese renminbi (CNH)

Euro (EUR)

Hong Kong dollar (HKD)

Japanese yen (JPY)

New Zealand dollar (NZD)

Pound sterling (GBP)

Singapore dollar (SGD)

Saudi Arabian riyal (SAR)

Thai baht (THB)

US dollar (USD)

To use this feature, however, users must first activate it by removing their Wallet’s default maximum balance limit of RM4,999. This can be done via biometric verification at any bank branches, although some qualified customers may enjoy an automatic removal of the limit. Once completed, you can then start to keep preferred foreign currencies in your HLB Wallet, as well as spend them via your debit card with competitive exchange rates when you travel.

Fees-wise, HLB Wallet itself is free to use, but the
standard fees and charges
 for a HLB bank account and debit card will apply (as your HLB Wallet will be automatically tied to your bank account with a debit card).

If you’re interested to give the HLB Wallet a try, you can apply for it
using HLB’s Apply@HLB app
. Just fire up the app and select the account type and product; you’ll then be prompted to scan your MyKad and to fill in the necessary details. Once approved, you are required to make a minimum initial deposit of RM50 into your HLB Wallet (unless stated otherwise). If you fail to do so, your Wallet will be automatically closed after 90 calendar days.

Note as well that deposits to your HLB Wallet can only be made via intrabank transfers from your own bank account (HLB account or other banks) or via cash deposits via HLB cash deposit machines. Credit cards are not supported.

To celebrate the introduction of the all new HLB Wallet, HLB is currently running a Chinese New Year promotion that rewards its customers with an
RM18 e-ang pow when they sign up for their HLB Wallet
. Already ongoing, the promo is set to end on 15 March 2023.

(Source:
HLB
)

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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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    vaayu

    6 months ago

The article is very informative And Helpful

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Apple Malaysia Reduces Prices Of iPhone 7, iPhone 8, & Apple Watch; Discontinues iPhone X

Shortly after the announcement of the new
iPhone Xs
, iPhone Xs Max, and
iPhone XR
, Apple updated its official website to reveal revised prices for its entire lineup of previous-generation iPhone and Apple Watch models. The discounts are pretty significant, with slashes that go as high as RM615.

The new iPhone Xs is designed to be an iterative update to 2017’s iPhone X, while the iPhone Xs Max is a new model for those who prefer a larger screen – this model looks to be the “Plus” model. Meanwhile, the iPhone XR is the “affordable” iPhone with plenty of colour options and a lower price tag. Collectively, the XR and Xs Max replace the iPhone 8 and 8 Plus, as Apple moves ahead with its new design philosophy without the iconic home button.

As always, the previous generation iPhone models all saw an immediate price revision. For Malaysia, this revision saw massive reduction in the official retail prices for the iPhone 7, 7 Plus, 8, and 8 Plus, as well as the Apple Watch Series 3. In addition, Apple also discontinued two models: the iPhone X as well as the Apple Watch Series 1.

Here’s the revision in prices, which are effective immediately.

Model

New Price

Previous Price

Reduction

iPhone 7 32GB

RM2,199

RM2,593 (0% GST)

RM394

iPhone 7 128GB

RM2,649

RM3,065 (0% GST)

RM416

iPhone 7 Plus 32GB

RM2,749

RM3,159 (0% GST)

RM410

iPhone 7 Plus 128GB

RM3,199

RM3,631 (0% GST)

RM432

iPhone 8 64GB

RM2,899

RM3,442 (0% GST)

RM543

iPhone 8 256GB

RM3,599

RM4,150 (0% GST)

RM551

iPhone 8 Plus 64GB

RM3,299

RM3,914 (0% GST)

RM615

iPhone 8 Plus 256GB

RM3,999

RM4,612 (0% GST)

RM613

Apple Watch Series 3 38mm

RM1,229

RM1,461 (0% GST)

RM232

Apple Watch Series 3 42mm

RM1,379

RM1,602 (0% GST)

RM223

The pricing and availability for the new iPhone Xs, Xs Max, and XR are not yet revealed for Malaysia, but with prices starting at $749 (iPhone XR – about RM3,100), $999 (iPhone Xs – about RM4,150), and $1,099 (iPhone Xs Max – about RM4,553), they won’t come cheap. Interestingly, the official Apple Store in Lazada is still offering the iPhone X as well as the Apple Watch Series 1, both at reduced prices. The
iPhone X 64GB is now priced at RM4,299
 (from RM4,857 0% GST), while the
256GB model is now available at RM4,999
 (from RM5,565 0% GST). The store even has the
iPhone 6 still available for RM1,025
.

Finally, there are also price reductions for two popular Apple accessories: the
AirPods wireless earphones
 (RM649 from RM800) and
Apple Pencil for iPad
 (RM369 from RM419).

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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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#AskHannAnything: Should I Take A Car Loan Or Personal Loan First?

Welcome to the first installment of the #AskHannAnything series, where readers submit their personal finance queries and I provide some actionable advice to kickstart their plans.

Before we start this month’s #AHA, I’d like to give some context behind the series. Why #AskHannAnything, you may ask? I’m inspired by the genuinely interesting content in the Reddit AMAs (Ask Me Anything), where the person in question can give in-depth, “not-PR-friendly” replies. Plus, it adds another dimension to our content offering at RinggitPlus, which already offers useful guides alongside current personal finance news.

In my time as a certified charterholder, I come across clients whose financial queries range from “I have RM X in my account, should I buy a house or invest in the stock market?” to “I have RM Y in debt across home loan, student loan, and loan shark, and I’ve just been retrenched. What should I do?”. Normally, the services of a financial advisor/certified charterholder is chargeable by the hour, but in the spirit of cultivating financial literacy and making smarter money decisions, #AskHannAnything was born.

The queries posted in this series have been curated to cover an extensive range of issues, and all queries have been posted with consent and are not edited whatsoever (names may be changed for anonymity). With that, here’s this month’s top query! (Next month’s intro will be much shorter, I promise!)

********

Hi Hann,

My current take-home pay is RM4,000 monthly (after EPF and SOCSO deductions) and I plan to buy a new car (Proton Saga Premium) in January next year. It will cost RM42,000 (OTR) for a 7-year loan period. The downpayment is RM6,000. Interest rate at 3% (monthly repayment: RM506.33).

However, I have some family financial matters and plan to take a personal loan:

Personal Loan: RM20,000

p.a: 5.33% (Interest per annum: RM 1,066/ Interest for 3 year-repayment: RM3,198)

Monthly Installment: RM644.39

Currently, my installment is as follows:

PTPTN (Monthly Installment) = RM300

(PTPTN Outstanding Balance in December 2019 = RM35,180.19)

2)   UOB Credit Card = RM690 (use my credit card to pay home expenses/bills monthly and has always paid in full on time).

Will it matter if I apply for a personal loan first, then buy a car? Or I should buy a car first then take out a personal loan?

Friends have advised me to be aware of my CTOS score and CCRIS. (Can you please explain these to Cs (as in CTOS score and CCRIS)? Thank you.

Additionally, I would like to know the pros and cons of taking out a personal loan.

Thank you.

Anonymous

**********

Hi Anonymous, thanks for the question.

Assuming you don’t have any other outstanding liabilities or debt repayments than what you describe, on your new car and personal loan plan, there are 2 things that you need to think about:

1. Your DSR and Affordability

Debt service ratio (DSR): monthly repayments
÷ monthly income

DSR or Debt Service Ratio (monthly repayments divided by monthly income) is a metric that banks use to determine whether someone can continue to service their loans or not. There is no common hurdle % as it will differ based on the various banks, your income level and employment type, but in general if you keep it under 50% (i.e. monthly debt commitments are under 50%) then that should be approvable in most circumstances and banks.

What this means is if you’re earning RM4,000 after EPF and SOCSO, then your total debt repayments (after your new loans) should be under RM2,000. One thing to note: for credit cards, most banks will take a ratio of 5% of your credit limit as debt servicing amount, rather than your monthly on-time repayment.

Assuming your credit limit is at RM10,000, looking at your circumstances, this should be approvable (RM506.33 + RM644.39 + RM300 + RM500 = RM1,950) unless your credit card has a limit way over RM10,000.

Having said that, DSR is a bank measure, but you should also consider your own affordability: if you had an income of RM4,000 but debt repayments of RM2,000, are you able to save or at least survive? Banks may approve you but you should consider if you should “approve yourself”.

2. Timing

One thing that most people are not aware of is that some banks have a “credit hungry” flag or measurement, which is raised when a customer applies for too many credit facilities (loans/cards) at the same time. Obviously each bank is different, but as a rule of thumb, you should look to time your loan applications at least 3 months apart such that you can avoid this flag. From your question, it appears that you can wait longer to buy your new car than settling your family matters, so perhaps you can apply for your personal loan first before the new car.

On CTOS and CCRIS, your friends are right. Now that you are planning to take up a personal loan, you need to be aware of your CCRIS and CTOS score. To break it down for you, CCRIS (which stands for Central Credit Reference Information System) is a system created by Bank Negara Malaysia that collects credit information on borrowers from participating financial institutions and supplies the information back to them. In other words, it is a system that banks refer to in order to know your financial records, before they decide if they should approve or reject your application.

As for CTOS, it is a credit reporting agency that compiles and provides credit information in Malaysia. It provides a comprehensive report that helps you understand your credit health and identify the areas that you need to work on to improve your creditworthiness. Not just that, it also contains your personal details, CCRIS records, directorships, legal action records and the number of times you’ve been searched. Finally, a CTOS report also has a “score” that basically summarises your credit health (the higher, the more financially healthy you are).

Essentially, a credit report is like your report card at school. It tells you how you did, financially, for the past 12 months and where you can do better for the next term.

Before I answer your question on the pros and cons of taking out a personal loan, you must first understand how a personal loan works. Personal loans can be a useful financial tool to get a sum of cash quickly, especially in times of emergency. Most banks charge flat interest rates for their personal loans – a type of interest that is charged on the principal loan amount throughout the tenure of the loan, regardless of the outstanding balance.

Most of the time, personal loans are taken out when a person needs a sum of money quickly. However, some people use them as debt consolidation tools. If you have a huge sum of credit card debt across multiple cards and you can’t repay them all at once, a personal loan can be used to repay the whole amount owed, and then the loan is paid in structured intervals at lower interest rates.

If you would like to find out and compare available personal loans in the market to see what’s best for you, you may check out
RinggitPlus.com
.

#AskHannAnything is a monthly series where our co-founder, Hann Liew, offers advice to users who submit their personal finance queries. Want to pick Hann’s brain? Drop him an email at
[email protected]
 with your queries. We will publish the most useful ones at the end of each month.

*by submitting your email, you agree to provide consent for it to be published on RinggitPlus.

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    Ruth Lee

    2 years ago

Hi Hann

Can you give a talk via zooms to a group of university students online? Topic – how to smell a financial scam

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Agrobank Will Not Impose Profit Charges On Fixed-Rate Loans For Moratorium

(Image: The Malaysian Reserve)

Agrobank will not be imposing additional profit charges on fixed-rate loans during the six-month moratorium period. Agrobank is one of the first banks to declare this waiver following the recent announcement by Bank Negara Malaysia (BNM) that hire-purchase loans and fixed-rate Islamic financing could now be charged interest during the 6-month moratorium.

According to Agrobank, its individual and small-medium enterprise (SME) customers will pay the same monthly repayment amount from October 2020 onwards, with the financing tenure extended by 6 months to accommodate the automatic moratorium’s deferment period.

“Agrobank is committed to relieving our customers’ distress during these trying times,” said covering chief executive officer Khadijah Iskandar. “Therefore, for our Fixed Rate financing customers especially the micro financing customers, there would be no change in the current amount of outstanding and profits borne by our customers.”

Agrobank does not offer hire-purchase loans, but the interest deferment for fixed-rate loans will apply to its personal financing facilities like
AgroCash-i
. The bank also added that the payment deferment is still automatic for its customers with no additional steps needed to be entitled to the automatic moratorium. However, those who wish to opt out from the moratorium now are still able to do so by
filling up a form on their website
 and resuming scheduled payments.

BNM’s announcement that
hire-purchase loans and fixed-rate Islamic financing could be charged interest
 during the automatic 6-month moratorium caused something of a storm when it was announced on 30 April. The new statement was at odds with a previous version of the central bank’s moratorium FAQ dated 30 March and similar FAQs of banks in Malaysia; it had been indicated that customers with flat-rate loans would enjoy an interest-free payment holiday from April to September.

Following the major outcry by the Malaysian public on this matter,
Finance Minister Tengku Dato’ Sri Zafrul Aziz
 came forward to say that Malaysian banks should consider waiving the accrued interest during the moratorium period – as has been done by Agrobank now.

(Source:
Agrobank (Facebook)
)

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Finance Minister: Government To Decide On Targeted Subsidies When Economic Situation Permits

(Image: Bernama/Nur Ain Shafinas)

Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz has said that the government will only decide on introducing targeted subsidies when the country’s economic situation permits it. This will depend on several factors, including the country’s economic growth and inflation rate, as well as global geopolitical situations.

According to Tengku Zafrul, it is inappropriate to implement targeted subsidies in the current economic environment where inflation is rising around the world. As such, he remarked that it is too early for the government to decide on whether it should introduce targeted subsidies in the upcoming Budget 2023.

“We are still in the recovery process, and this matter needs to be discussed in the Cabinet as to whether targeted subsidies will be introduced in Budget 2023,” Tengku Zafrul said.

(Image: Bernama)

Nevertheless, Tengku Zafrul stressed that the current blanket subsidy approach is not sustainable in the long term, and will take a toll on the country’s economy. Therefore, if the government finds the economic environment in 2023 to be suitable, it will implement structural reforms, particularly to help the financially vulnerable groups. “Through these structural reforms, we will introduce new policies to help those who are really in need, and not via blanket (subsidies),” he added.

For several months now, the government has been consistently stating its intention to replace the current blanket subsidy with a targeted mechanism in a bid to curb leakages and to provide subsidies to deserving groups. In line with this, Prime Minister Datuk Seri Ismail Sabri Yaakob shared last month that the
government is already in the midst of formulating a suitable mechanism for its targeted subsidy approach
.

As of now, the government is
testing the mechanism for a targeted petrol subsidy
, which may be
studied for up to six months
 before it is ready for implementation. Meanwhile, the
government is also looking to rationalise other existing blanket subsidies
 while it improves direct assistance for low-income earners.

(Source:
The Edge Markets
)

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The Many Names of Easy Payment Plans

Easy Payment Plans are useful to help us save money, especially when you are trying to purchase one of those big ticket items that could cost you a little more than a month or two’s worth of salary.

Sometimes you may already have such a feature on your credit card but not realise it as it goes by a different product name. Why do banks do this? Possibly to differentiate themselves from the competition and portray a unique sense of identity.

Let’s explore EPP in a little more detail before we shed some light on what other banks offer them as well.

What is an Easy Payment Plan (EPP)?

Ultimately, an Easy Payment Plan (EPP) is a credit card feature that allows you to break down your transacted purchases into smaller and more manageable payments over a specific term. The term could range from a minimum of 6 months, all the way up to 36 months which could vary depending on the bank.

If you were a home owner and would like to furnish your house for the upcoming festive season, wouldn’t it be great if you could purchase these items and paid for them over a term? If you had swiped your card for a RM14,000 couch without taking an EPP plan and were unable to pay for it all at once, the gradual build up of interest could substantiate into a huge debt. So why not take advantage of this credit card feature and split the payments so you can entertain guests in comfort and with pride.

You are probably wondering if you owe the bank, there should be some fees or interest involved. Some banks offer this feature with a 0% interest fee which at times could incur a one-time upfront handling fee instead. All of these terms and conditions vary from bank to bank and it is best you do a little bit of research and understand before committing to such a plan.

Does Your Card have an EPP?

As we mentioned previously, there is a chance your credit card already has this amazing feature but has marketed it in a different name.

The table below has the issuing banks and their many names which are actually Easy Payment Plans.

If by some obscure chance your credit card doesn’t offer you such a service and you would love to add this to your arsenal of financial tools, take a look at the list below and apply for one on
Ringgitplus.com

If you have any questions or comments feel free to do so in the section below.

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Transport Minister: Credit, Debit Card Payments To Be Enabled For Public Transport Services Soon

Transport Minister Anthony Loke has said that commuters will soon have the option to also use credit and debit cards to pay for their public transport fares, in addition to the existing Touch ‘n Go (TNG) cards. This comes following the government’s directive to public transportation agencies and operators – such as Prasarana Malaysia and KTM Bhd – to adopt an open payment system.

“The ministry has received complaints from the public that there are limited choices of payment options. For example, you can only pay using a TNG card or a token at the LRT gantry entrance, but this will soon change. Buses and train riders can soon pay using any type of debit or credit card of their choice. This implementation will take some time as operators need to integrate the system, but they are working on it,” said the minister.

(Image: The Star)

That said, Loke clarified that his ministry’s directive is only applicable to public transport operators in Malaysia, and not highway operators. “I can only speak for public transportation regarding this payment issue. It is up to LLM to adopt an open payment system,” he explained.

Briefly, the Malaysian Highway Authority (LLM) is a statutory body under the Ministry of Works. Meanwhile, public transport services that currently utilise TNG as a payment method include Prasarana buses (RapidKL and other feeder buses), Light Rail Transit (LRT), Mass Rapid Transit (MRT), Monorail, and Keretapi Tanah Melayu Bhd (KTMB).

Loke also stressed that this decision is not a move against Touch ‘n Go to end their services. “We do not intend to end TNG services, so please don’t say that we are trying to kill off TNG. It’s just that TNG will be one of several payment options rather than the only one,” he said.

(Image: Malay Mail/Hari Anggara)

Loke’s announcement came just a few days after Prime Minister Datuk Seri Anwar Ibrahim said that the government will look into
reviewing TNG’s monopoly of the highway toll payments
. He had also agreed that TNG’s system has become technologically stagnant after being in place for over two decades. Loke further updated that the PM has called for this matter to be discussed in the Cabinet as soon as possible, so that operators can make room for other payment systems to ensure that motorists will not be short of choices when travelling.

(Sources:
The Edge Markets
,
Malay Mail
)

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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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Unbox An Apple iPad Air or Guaranteed RM500 Lazada e-Voucher With 4 Participating Banks

This week’s unboxing continues to present gifts that will add excitement to your credit card application!

If you’re new to RinggitPlus, Unboxing This Week is a weekly event where we present to you fantastic weekly flash deals from our featured bank partners. All you need to do is apply for selected credit cards from these banks of the week through RinggitPlus and you might take home some great prizes.

For this week (2 – 9 August), we’re giving you a chance to win an Apple gadget or a guaranteed shopping voucher when you apply for a credit card with 4 featured banks:
Standard Chartered Bank, HSBC Bank, CIMB Bank, and Maybank.

So, if you’ve considered applying for a credit card with any of these banks, now’s a good time to get more out of your application!

The Big Prize: Apple iPad Air

Stand a chance to win the Apple iPad Air when you apply for selected cards from any of the 3 banks listed below through us! The Apple iPad Air will be given to 28 randomly chosen successful applicants who submit their application from 2 to 9 August and meet individual bank requirements to be eligible for the prize.

Read on to find out the individual bank requirements:

Standard Chartered Bank: Activate your card within 30 days upon approval to be eligible for this prize. Do be aware that existing cardholders and individuals who have held a Standard Chartered credit card in the past 6 months are not eligible for this campaign.

Apply for a Standard Chartered Credit Card here.

HSBC Bank: Activate and spend a minimum of RM1,000 on your new card within 60 days upon gaining approval. Current cardholders and applicants who were denied within 6 months prior to this campaign, as well as those who have cancelled their HSBC credit cards within 6 months prior to this campaign are not eligible for our campaign.

Apply for an HSBC Credit Card here.

CIMB Bank: Only applications for CIMB e Credit Card are valid for this campaign. Upon approval, you do have to activate and spend any amount to meet the requirements of the campaign and be eligible to win the prize. Existing cardholders of any CIMB credit card and individuals who have held or cancelled a CIMB credit card in the 6 months are not eligible for this campaign.

Apply for the CIMB e Credit Card here.

The Guaranteed Prize: RM500 Lazada e-Voucher For Selected Cards

Shop for your necessities safely at home with a RM500 Lazada e-Voucher that will be gifted to you when you apply and get approved for selected Maybank Credit Cards. Do note that this gift is only applicable for cards listed below:

Maybank 2 Gold Cards
Maybank 2 Platinum Cards
Maybank Islamic Ikhwan American Express Platinum Card-i
Maybank American Express Platinum
Maybank 2 Cards Premier
Maybank American Express Cash Back Gold

This gift is guaranteed for all successful applicants. Existing cardholders of any Maybank Credit Card and those who had cancelled any of his/her Maybank Credit Card within 6 months before the date of application are not eligible to participate in this campaign.

Apply for a Maybank Credit Card here.

***

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

While this week’s flash deal ends on 9 August (1pm), you can also follow us on our
Facebook page
 to receive the latest Unbox This Week offers as we refresh the deals every week.

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Maybank IB Now Enabled To Facilitate Trading In Shariah-Compliant Securities

(Image: New Straits Times)

Maybank Investment Bank (Maybank IB) has been successfully registered by Bursa Malaysia as an approved supplier and user under the Islamic Securities Selling and Buying – Negotiated Transaction (ISSBNT) framework.

With this development, Maybank IB will be able to facilitate the trading of
shariah
-compliant securities. This is on top of the ability to conduct hedging and risk management activities for market participants while observing
shariah
 principles.

The chief executive officer of Maybank IB, Dato’ Fad’l Mohamed said that the bank’s status as an approved supplier and user under ISSBNT will allow it to better support its clients’ investment management strategies. This is as there is a strong demand for
shariah
-compliant assets among investors.

“With
shariah
-compliant securities making up 79% of Bursa Malaysia listed securities, there is potential to further develop our Islamic capital markets, and Maybank IB will continue to play an active role in making Malaysia a leader in this space,” said Dato’ Fad’l.

(Image: The Malaysian Reserve/Razak Ghazali)

Meanwhile, the chief executive officer of Bursa Malaysia, Datuk Muhamad Umar Swift said that the participation of more organisations under ISSBNT demonstrates the local exchange’s commitment to growing the Islamic equity market. “We look forward to the increased participation and continued support from our brokers to spur the growth and vibrancy of our marketplace, upholding Malaysia’s position as the world’s leading Islamic
shariah-
compliant equities market,” he said.

To note, the
ISSBNT framework
 – which was launched by Bursa Malaysia back in 2017 – is acknowledged as the world’s first
shariah
-compliant alternative to the
Securities Borrowing and Lending – Negotiated Transaction (SBLNT) model
. It was developed based on concepts such as
bai’
 (sale),
wa’dan
 (unilateral promises/undertakings), and
khiyar al-shart
 (conditional option) to improve the trading liquidity and pace of
shariah
-compliant securities, thereby enabling a more conducive trading environment.

Aside from Maybank IB, other financial institutions that have also been onboarded as approved suppliers and users under the ISSBNT framework include CGS-CIMB Securities and Kenanga Investment Bank. Meanwhile, there are currently a total of 179
shariah
-compliant securities that are eligible for ISSBNT transactions (reviewed and approved by the Securities Commission’s Shariah Advisory Council).

(Source:
Bursa Malaysia
)

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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 Pilots New GrabSupermarket Service With Zero Delivery Fees

Super app Grab has started its first official foray into online grocery deliveries with GrabSupermarket, offering next-day delivery and zero delivery fees. The new service allows users to shop for a wide variety of household needs, including fresh produce, frozen and packaged food, homecare, personal health, and more.

Currently, Grab already has its
GrabMart
 service which caters to
instant retail
 needs with delivery from retail stores under 30 minutes, as well as the
Pasar
 feature which delivers fresh produce from local markets. However, GrabSupermarket functions from a fully stocked dark store – a retail distribution centre that caters primarily to online shopping instead of walk-in customers. GrabSupermarket aims to deliver the convenience of a full online grocery shopping experience with greater value.

You can select your preferred delivery slot every day between 8pm and 10.30pm and you will only be charged when your order is delivered to you. There are zero delivery fees, no minimum order value, and no cap to your GrabSupermarket order.

“As the need for delivery services continue to grow in view of the pandemic, the GrabSupermarket is part of Grab’s efforts to offer more income opportunity to Grab’s delivery network while providing an end-to-end service for local producers, farmers wholesalers and FMCG brands to serve Grab’s wide customer base,” said Grab in a statement. “In addition, this also provides a convenient, cashless, and affordable way to purchase all their household needs and fresh groceries with just a tap of their finger especially in this new normal.”

GrabSupermarket is currently being piloted in the areas of Section 12 and 13 in Petaling Jaya. If you are within this pilot area, you can simply click on the GrabMart tile to start shopping from
GrabSupermarket
.

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Public Bank’s Exclusive Campaign Offers RM50 Cashback For Mastercard Cardholders

Public Bank and Public Islamic Bank are running its Up To RM150 Cash Back with PB Mastercard Credit Card campaign, offering Mastercard credit cardholders RM50 cashback when they spend a minimum cumulative of RM300 per month. Already ongoing, the campaign is slated to run until 30 September 2022.

Open exclusively to selected cardholders, you’ll need to first receive an invitation via an SMS or an email direct mailer from the bank. When you do, simply spend a minimum cumulative of RM300 a month on qualified transactions to earn the cashback amount on offer.

Note that transactions that are accepted for this campaign include all local and overseas retail spending, online purchases, and new zero interest or management fee instalment plans (for full purchase amount). Meanwhile, payments such as e-wallet transactions, balance transfers, recurring payments, as well as payments for utilities, insurance, and charities, do not qualify for this campaign.

Do note as well that each cardholder participating in this campaign is eligible for a maximum cashback reward of RM150 throughout the whole campaign period (capped at RM50 per campaign month) – provided on a first-come, first-served basis. A total of RM360,000 has been allocated for the whole campaign, with RM120,000 earmarked for each campaign month, as per the following schedule:

Campaign month
Period
Month 1
27 June – 31 July 2022
Month 2
1 August – 31 August 2022
Month 3
1 September – 30 September 2022

If you manage to win any cashback rewards, they will be credited into your account within four to twelve weeks after the end of the campaign period. Do be aware that you’ll be required to reimburse the bank the entire cashback reward received if any payment reversals are made on the qualified transactions.

Meanwhile, if you did not receive an invitation to this campaign, you may participate in the ongoing
Weekend Special With PB Mastercard Credit Card campaign
. Running until 25 September 2022, the campaign offers a 30% cashback reward when you spend a minimum of RM120 in a single transaction with selected merchants during the weekend.

(Source:
Public Bank
)

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ANYA at Shorea Park: Simplifying Homeownership for the Perfect Family-Centric Lifestyle

Amidst the bustling landscape of the Klang Valley, it is increasingly challenging to find solace from the fast-paced rhythm of city life. However, the desire for a dwelling that embraces nature and offers close proximity to green spaces has become an aspiration for many. Such a home not only provides comfort but also encourages a healthy lifestyle.
Introducing ANYA at Shorea Park, a new serviced apartment that effortlessly combines the allure of nature with the conveniences of urban living. What’s even more enticing is the accessibility of homeownership through EdgeProp’s START campaign. This initiative aims to simplify and enhance the experience of owning a home, ensuring it becomes a straightforward and rewarding endeavour. Additionally, purchasers have an exciting opportunity to win remarkable prizes through OSK Property’s Double The Win, Double The Joy campaign.
Before exploring these exceptional opportunities further, let us acquaint ourselves with ANYA at Shorea Park and discover the 5 compelling reasons why it should be your new cherished family abode.

1.
Freehold Nature-Inspired Community Living

Nestled within the expansive 27.77-acre enclave of Shorea Park, ANYA at Shorea Park emerges as an exceptional serviced apartment, seamlessly blending the allure of serene natural living with contemporary elements. Here, a remarkable juxtaposition awaits, offering residents the perfect equilibrium between tranquillity and modernity. Moreover, this exquisite residence boasts the added advantage of being situated in the heart of Puchong’s well-established township, granting residents access to a thriving urban oasis.
Imagine the convenience of embarking on leisurely strolls through lush green spaces with your loved ones, be it your young children or elderly parents, just moments away from your doorstep. Gone are the days of lengthy drives to distant parks. Time is a precious commodity, and what better way to utilize it than by creating treasured memories with those closest to your heart?

2.
A Wealth of Activities For Everyone In the Family

Life in ANYA at Shorea Park is filled with a world of excitement, especially when it comes to the availability of diverse facilities. Residents are spoiled for choice with over 40 remarkable facilities spread across 4 distinct floors.
For those seeking to boost their fitness levels, the 6th and 7th floors offer an array of exhilarating options. Whether it’s a rejuvenating jog on the track, a challenging parcourse session, a refreshing swim in the 50m pool, a spirited game of badminton or basketball in the multipurpose hall, or an invigorating workout at the gymnasium, there’s something to cater to every individual’s fitness needs.
If relaxation and unwinding are your priorities, the weekend holds an abundance of possibilities. Immerse yourself in the soothing ambience of the herb & spice garden, revel in the beauty of the flower bed, explore the serene garden trail, indulge in the hydrotherapy spa, bask under the sun on the deck, or unwind in the comforting embrace of the sauna. Additionally, for quality bonding time with your children, the forest ramble playground, wading pool, reading room, kid’s play room, games room, and dance room offer endless opportunities for memorable moments.
In need of a change of scenery for your remote work? Look no further than the convenient co-working space, where you can find the ideal environment to maximize your productivity and focus.
For an elevated experience, the rooftop retreat spanning levels 31 to 33, along with the roof garden, presents a captivating setting. Marvel at the breathtaking views while engaging in rejuvenating yoga or meditation practices, all while the enchanting surrounding landscape keeps you company.
With prices starting from RM440,000 or RM2,000 per month, ANYA at Shorea Park offers an abundance of delights waiting to be enjoyed.

3.
Seamless Connectivity At Its Best

Being Malaysians, many of us find ourselves spending countless hours on the road each week, driving from one location to the next. Whether it’s to visit cherished relatives, explore new cafes, or commute to work, the exceptional advantage of residing in ANYA at Shorea Park lies in its effortless accessibility to major highways.
For those yearning to immerse themselves in the vibrant malls and recreational havens of Bukit Jalil, the Lebuhraya Bukit Jalil offers a seamless route to your desired destination. Alternatively, if Petaling Jaya, Bandar Sunway, or Damansara frequently call your name, the Damansara-Puchong Expressway (LDP) provides direct access to these bustling areas. Furthermore, residents can easily reach Subang by utilizing the LDP and KESAS Highway, access KLCC via the Maju Expressway (MEX), or venture towards Bandar Saujana Putra via the Putrajaya-Cyberjaya Expressway.
With the strategic positioning of ANYA at Shorea Park, residents enjoy the invaluable privilege of swift and convenient connectivity to various parts of the city, enabling them to make the most of their time and effortlessly explore the vibrant tapestry of Kuala Lumpur’s diverse neighbourhoods.

4.
Meticulously Thought-Through Layouts

Choose from 4 versatile and flexible design layouts ranging from 560 sq ft to 1,389 sq ft.

Type A

560 sq ft | 1+1 Bedroom & 1 Bathroom
With its contemporary open-concept living space, the Type A layout invites you to infuse your personal style into your new home. Perfect for first-time homeowners, especially young professionals seeking a place to call their own, this layout offers a compact yet functional design. If you have visiting family members, you will appreciate the extra room, plus the flexibility to be transformed into your very own home studio or a walk-in closet. Despite its size, Type A cleverly incorporates a designated washing and drying area, ensuring every inch is optimized for your convenience.
Type B
915 sq ft | 3 Bedrooms & 2 Bathrooms
Designed with growing families in mind, the spacious Type B layout offers a family-friendly living space. Ideal for couples or new parents, the generously-sized rooms comfortably accommodate queen-size beds, while the additional rooms can be used as a designated bedroom or a delightful playroom where cherished memories can be made. The balcony becomes a conversation starter for guests and provides the perfect opportunity to create a mini garden, adding a touch of natural greenery to your home.
Type C
1,195 sq ft | 3 Bedrooms & 2 Bathrooms
Thoughtfully crafted to cater to multigenerational living, Type C is just comfortably spacious and features a delightful Lanai. This layout is a practical choice for families seeking a home where different members can comfortably reside under one roof. The spacious Lanai, larger than a traditional balcony, can be transformed into a serene spot for tending to plants or indulging in hobbies. Notably, Type C comes semi-furnished, adding an extra touch of convenience to your living experience.

Type D
1,389 sq ft | 4 Bedrooms & 3 Bathrooms
If you desire a home that can accommodate multiple families without compromising privacy, Type D is the perfect fit. Boasting ample living space, each room comfortably accommodates a queen-sized bed, while a sizable Lanai welcomes you to the tranquil views. Built around the Dual Key Concept, Type D allows for a separate ‘second unit’ or studio, providing independence while maintaining connectivity. With an abundance of space, you even have the option of transforming the ‘second unit’ into a home theatre or a game room, providing a haven for your loved ones to spend quality time together.

5.
Home Ownership Made Easy With An Abundance of Benefits

ANYA at Shorea Park offers two ways to enhance your home-buying experience and make it more rewarding. The first is through EdgeProp’s START campaign, which provides a range of enticing benefits.
Take advantage of EdgeProp’s START campaign by signing up and creating an account to get vouchers worth up to RM3,888. These vouchers can be redeemed for various products and services to enhance your new home. After verifying your profile, select ANYA at Shorea Park as your preferred choice and commence the purchasing process.
Now comes the exciting part – enjoy an array of perks and rewards from both local and international brands. This includes renowned names like Samsung, JBL, StashAway, and Livspace. Additionally, by submitting your proof of purchase to EdgeProp, you can unlock even more rewards and cash vouchers, making it easier to turn your house into a warm and welcoming home without breaking the bank.
In addition to the START campaign, homebuyers will also enjoy the perks of OSK Property’s Double The Win, Double The Joy campaign, which runs till 31 December 2023. This captivating campaign offers homebuyers a chance to win exciting vouchers from Atria Shopping Gallery and Panasonic Malaysia plus the grand prize of a brand-new Perodua Myvi, Ativa, or Alza.
ANYA at Shorea Park presents an exceptional opportunity to own a home that embodies tranquillity and promotes healthy living. With prices starting from only RM440,000 or RM2,000 per month, you can indulge in a remarkable lifestyle where it truly is an urban sanctuary, offering you a serene and relaxing environment to come home to each day.
Learn more about ANYA at Shorea Park today by
visiting the website
, or get in touch with them by
clicking this link
.

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Lisa Ameera Azman

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Prudential BSN Takaful Launches New App Offering Takaful Protection

Prudential BSN Takaful has launched PruBSN Aman, a new community-based mobile app that offers takaful protection and
khairat
benefits. It is the first mobile application in Malaysia to be built based on the takaful aspect of mutual cooperation (
ta’awun
) and a peer-to-peer (P2P) concept.

“The launch of PruBSN Aman is timely given the accelerated adoption of digital and contactless transactions in the new normal,” said PruBSN CEO Wan Saifulrizal Wan Ismail. “The app is also a step change in empowering mutual protection and mutual assistance by making takaful and funeral services more inclusive, transparent, and affordable for everyone. With PruBSN Aman, we are raising the level of convenience and positive impact to not just the individual but also the community at large.”

Contributors to the plan are entitled to a death benefit of RM7,000 payable to their nominee, as well as an additional
khairat
benefit of RM3,000. Upon a contributor’s death, the
khairat
benefit will be paid directly to the provided funeral service manager, who will help with all the funeral arrangements from end to end in accordance with shariah laws. If the funeral management service is not utilised, the benefit will be paid directly to the nominee.

https://www.prubsn.com.my/en/.galleries/Videos/PruBSN-Aman_ENG.mp4

“Arranging a funeral is a very emotional time and can be complicated and costly. Knowing what to do at the moment can be tricky, what more during a pandemic such as now. However, PruBSN Aman is leading the market for better, faster, and more accessible solutions for funeral arrangements before and after death,” said Mohd Yusni Hj Ismail, CEO of MyAngkasa Mukmin, the established funeral service manager partnered with PruBSN Aman.

PruBSN Aman participants start out with an advance contribution payment of RM120 – of which RM30 will be charged for the upfront
wakalah
fee and the remaining RM90 will go into a mutual account. The funds in the mutual account will only be deducted to help pay for the cost of a death claim among the pool of participants and you can top-up your contribution via the app when the account balance runs low. You can easily keep track of your mutual account balance, deductions, and other details in the app.

You can find out more about
PruBSN Aman
 on its website or download it from
Google Play
 or the
App Store
 to get started.

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Questions to Ask Before Deciding to Retire Early

Taking an early retirement may sound like a good idea if you want to free yourself from the shackles of working 9-5. But the dream may be an impossible one for many Malaysians.

A recent survey conducted in March 2015
 stated that 76% of Malaysians believe they have to work longer than the current retirement age of 60 in Malaysia, due to the lack of proper savings or pension amounts. If you are still pondering whether you are ready for the retirement plunge or not, ask yourself these basic questions first.

Are Your Debts Settled?

The burden of uncleared debts will act as a slow poison to your retirement. Ideally, a person should be debt free when taking the retirement road but with home loans stretching 30-35 years, that’s quite difficult to clear unless you bought your home by age 25.

If you have outstanding debt – consider how much of a dent it will be on your retirement fund to pay off the amount in a lump sum before retiring. Although, it does eat into your available monies – it prevents you paying costly interest rates in the long run.

It always better to solve problems first rather than being tied with commitments with a limited income during your retirement years. You can also opt to sell the bigger house for a smaller unit and pocket the extra or use it to fully pay off the smaller unit, leaving your retirement fund intact.

Coming up with measures is the reason why the next item is so important.

Do You Have a Plan?

A retirement plan is a must have. The plan basically delineates the kind of retirement you want and what you will need to achieve it. The plan should include:

1) The kind of retirement you want – luxury trips or quiet days at home;

2) How much you anticipate you will need for the chosen lifestyle;

3) Your passive investment options;

4) Contingency plans if your money should run out; and

5) Any other plan to help your retirement along (such as downsizing your home; moving to a cheaper state, etc)

The plan is important as it will help you be realistic about the things you need and how to prepare for them.

Do You Have Enough Savings?

Enough is subjective and will depend on the kind of lifestyle you want to lead in retirement. If you have made a plan as discussed in the previous point, you will know the answer to this and will have some idea about how to go about it.

Have you sat down and calculated how much all your assets, properties, and bank balances are worth?
Calculate your net worth
 and divide it with the approximate amount of years you have from retirement until your last day. Besides your personal savings, count your EPF savings too.

If you feel that you don’t have a sufficient amount, be prepared to take measures to boost your fund either via
a passive income
,
part-time job
, or by boosting your income and savings right now.

Some people also opt to invest in the
PRS
 to further bolster their finances.

Is Your Healthcare Covered?

Getting old links automatically to the ups and downs of your health (unless you are Superman). One of the biggest expenses in everyone’s aging life is healthcare.

Government hospitals provide free of charge (or nominally charged) medical benefits to Malaysian senior citizens, but you will have to wait till you’re 60 before you can enjoy this benefit. If you have proper
health insurance with a medical card
, then you are on the right track to save on your medical expenses when you retire.

Do note that in order to keep your policy alive, many companies require that you keep paying premiums well into retirement so to factor that cost into your retirement expenditure.

How Does it Affect Your Dependents?

Retirement is not solely on how much money you will need, as you may have dependents to consider. Do you still have children to provide for or is it simply a matter of you and your spouse?

This may seem like a no-brainer consideration but sometimes it is possible to miscalculate how much we need to provide for dependents. Have a frank talk with your children and spouse to determine how everyone can support each other in their individual goals.

The Checklist

So here is a checklist for you to work through before plunging in an early retirement.

You are not swimming in debt, or you are able to manage your debt effectively and settle it soon enough.

You have calculated your savings and assets which will help you survive retirement life and have a plan for it all.

You have healthcare covered.

Your dependents are supported.

If you have more green ticks then red ones, then you may be on the right track to retire early. It is always wise to
start saving
 at an early age, so that you can enjoy the fruits of your hard work when you retire.

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Here's A Car Safety Checklist You Can Use For Your Raya Trip

It’s that Raya season again and it is time for our Muslim friends to travel back home to their beloved hometowns to celebrate with family and friends. While some are going to be hopping on airplanes, trains or buses to head back, the vast majority are going to end up driving home.

If you are among the many who intend to drive home, we have come up with a basic checklist of things that you should run through to ensure your car is at its optimal condition for the long journey back.

Tires

First and foremost, you should check your tire pressure on all your tires. That includes the spare tire which is often forgotten. You can check what the air pressure should be on your tires based on the readings given in your car manual or on the side panel of your driver seat door. Be sure not to fill it up with too much air, as it will not have its full grip should it rain which can make it prone to slipping.

On the under hand, low tire pressure allows the tires to grip the road well but causes more strain on your engine and damages the tires due to the weight of the car pushing down on the rim and tires. Best time to fill the tires up, would be during
cool weather
 as heated tires causes the tires to be inflated more.

Engine Oil

It is important to check the oil levels in your car. Upon opening your bonnet, you will notice a ring near the engine compartment. This is called a dipstick, pull it out and you will get a long rod attached. Wipe the rod clean and dip that stick back, pull it back out and you will see about two inches of the tip in oil. The level of the oil should be marked some where between the minimum and maximum markers. If it is below the minimum, replenish with oil that you have from your previous car service. Or if you are really are unsure what to do, best to get a friend to help or send it to the mechanic.

Car Battery

Unless you are using a dry-cell battery which requires no maintenance, you would need to check the battery water levels. If you are using the wet-cell battery, open up the little caps and ensure there is enough battery water in each cell compartment. If the levels are below the minimum you can get battery water from most petrol stations or car stores to refill the compartments with.

Lights

While this is the simplest of checks to do, it could be the most crucial one. Although there are lots of street lights to assist you visually, you still need your lights to be fully functional to see along the dark portions of the roads if you are travelling in the wee hours of the morning or late at night.

Working brake lights are also extremely important as it is way more difficult to gauge when a car is slowing down if there isn’t a brake light indicator to tell you so. If people are travelling at higher speeds on a road with heavy traffic it can be dangerous if you start to slow down and the person behind does not realise it. By the time they start to slow down it may be too late.

Wipers and Water Levels

Check your wipers to ensure they are not oily and able to wipe of water without leaving streaks. If they are dirty, try taking a wet cloth and wiping along them, this should make the surface cleaner and give you a better visual should it rain.

If you find you test the wipers and it still leaves you streaks despite cleaning it, you probably should get yourself new wipers. It is extremely dangerous to drive if it rains heavily and you are struggling to see what is ahead of you. Once you have done that, do a quick check of the water levels and ensure there is sufficient water for the wipers.

Fill the Radiator

Last but not least, ensure there is enough coolant or water in the radiator. Be sure to only open this compartment when the engine is cool or before you start your car in the morning. This is important so the car does not overheat, especially when sitting stationary in a traffic jam.

Safe Travels

If you don’t know how to do any of the stuff mentioned above, be sure to send it down to your mechanic for a quick check. Yes, you will end up spending some cash to do a check you may eventually realise needn’t do, but the most important thing is to get home safe and sound. You can’t put a price on that for sure.

Browse through our
comparison tool
 to find yourself the right motor insurance for your car if you need to setup your renewal before you head back this Raya. If you have any other advice regarding basic car checks, let us know in the comments below.

Image Sources: Image 1 from
ARUN Phuket Car Rent
; Image 2 from
Tilly Mill Good Year Auto Center
; Image 4 from
Ikuzo Lighting
; Image 5 from
Autointhebox.com
; Image 6 from
Reference

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Gavin Pereira

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