TNG GO+ Bonus Rate Campaign Returns At 2% p.a., On Top Of Daily Return Rates

Touch ‘n Go (TNG) eWallet’s GO+ investment feature has brought back its bonus rate campaign, this time allowing users to earn an additional 2% p.a. bonus on top of the daily return rate. The campaign – which begins today – will run until 30 April 2022.

This round of the campaign comes at the heels of the previous
4% bonus rate promo
, which made it the
highest-earning money market fund platform
 during the campaign period and proved to be quite
well-received among users
. Most of the campaign mechanics remain unchanged for this round as well, but there are some new details that you should pay attention to.

Just like last time round, the promo is open to any GO+ users who maintain a minimum balance of RM200 in their GO+ account during the campaign period, with no specific requirement to deposit fresh funds. The 2% p.a. bonus rate will then be provided as a
hibah
 (gift) in addition to the daily return rates, which fluctuates depending on market earnings.

Unlike the previous campaign, however – which allowed users to enjoy the bonus rate on their full GO+ balance amount (capped only by the account’s maximum holding amount) – the bonus rate this time will only apply to a maximum GO+ balance amount of RM3,000. So for instance, if you had RM4,500 in your GO+ account, only RM3,000 will earn a total return rate of 3.47% p.a. (2% p.a. bonus rate + projected 1.47% daily return rate), while the remaining RM1,500 will gain from the projected daily return rate.

Aside from that, the campaign continues to maintain the 4pm cut-off time for your GO+ balance to benefit from the bonus rate each day. In other words, if your GO+ account has a balance of less than RM200 when 4pm rolls around, then you will not be entitled to the bonus rate for the day.

Additionally, the reward will be calculated on a daily basis, and must be accumulated until it reaches a minimum of RM0.01 before it will be credited to you. Your daily rewards can be viewed on your GO+ dashboard. For those who reach the maximum holding of their GO+ account (RM9,500) during this period of time, your reward will be credited straight into your eWallet balance within three business days, and therefore will not be reflected in your GO+ account.

Finally, TNG eWallet clarified that it has allocated a total of RM1 million for this entire campaign period, and users will be informed once the cap is reached – either via TNG eWallet’s Facebook page or push notification through the TNG eWallet app.

For those who are not aware, TNG GO+ is an
investment feature that sits within the TNG eWallet
, letting you invest your eWallet balance in a low-risk money market fund. The underlying fund for GO+ is the
shariah-compliant Principal e-Cash Fund
, which is managed by Principal Asset Management Berhad.

(Source:
TNG eWallet
)

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About THE AUTHOR

Alex Cheong Pui Yin

Alex Cheong Pui Yin

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

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Citi Offers 10% Cashback On FoodPanda And DeliverEat For Selected Cardholders

Citibank is currently running a Cash Back On Food Delivery campaign, which lets customers holding its Citi Cash Back credit card and Cash Back Platinum credit card earn 10% cashback when they spend with selected food delivery services. Ongoing until 31 August 2021, the promotion is applicable only to FoodPanda and DeliverEat.

To be eligible for the promotion, you will need to meet the minimum monthly spend requirements specified under the campaign. Citi Cash Back credit cardholders are required to spend a minimum of RM800 in retail transactions each month, whereas Citi Cash Back Platinum credit cardholders must meet a monthly expense of at least RM1,500.

Note as well that the maximum amount of cashback that you can earn for the Citi Cash Back and Citi Cash Back Platinum credit card via this campaign is RM10 and RM15 cashback per month, respectively. In other words,
Citi Cash Back
 credit cardholders will be able to earn cashback on food delivery expenses of up to RM100, while
Citi Cash Back Platinum
 credit cardholders will stop earning once they hit RM150.

Here’s a table to help you better grasp the requirements and caps of the campaign:

Citi credit cards

Minimum monthly spend

Cashback cap per calendar month

Cash Back

RM800 and above

RM10

Cash Back Platinum

RM1,500 and above

RM15

Cardholders who do earn the 10% cashback on their food deliveries can expect to receive their rewards within 60 days from the posting date. It will be reflected in their monthly credit card statements.

You can find out more about Citi’s
Cash Back On Food Delivery campaign
 here.

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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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Budget 2015 Revised to Meet Economic Challenges

Budget 2015 was announced in October 2014 to much fanfare. Called the People’s Budget; the Prime Minister announced many allocations to be made to further the interests of certain sectors of the community they felt in most need of aid. However, 2015 brought many economic challenges such as the weakening ringgit, the global oil price slump and the outpouring of aid required to deal with the aftermath of the massive floods in December 2014.

In light of these challenges, the PM announced this morning that some measures would be implemented that will alter the course of what was initially decided in the 2014. In his keynote address; the PM said:

*”It should be noted that Budget 2015 was formulated based on strong economic fundamentals in 2014. Therefore, the fiscal deficit was forecast from 3.5% in 2014 to 3% of GDP in 2015. However, the external situation has changed lately and we are impacted directly as Malaysia is among the largest trading nations in the world. Compared to the situation a few months ago, the global economic landscape has since changed significantly. This necessitates us to review and clarify some of our earlier macro and fiscal assumptions.”*

Highlights from the Revision Speech

The revision speech this morning explained each challenge and effect in detail but we’ll simplify these as best we can for you. The following information does not cover the speech as a whole but presents highlights.

On declining crude oil prices

The PM addressed the issue of declining crude oil prices by stating the reasons why oil prices were plummeting (a fall of nearly 50% in the past 6 months) and how the government expects this to impact both government coffers and consumers.

Reason for decline
: Oversupply and reduced demand due to advances in technology allowing the US to produce more shale oil and gas. OPEC countries refusing to lower production further exacerbates the situation.

Benefits of this
: The reduction in fuel prices will see consumers increasing their disposable income by RM7.5 billion collectively according to government research. If even 40% of this surplus is spent in other areas; private consumption could boom RM3 billion.

Impact on the government
: At a revised forecast price of USD55 per barrel; the government stands to lose RM13.8 billion in revenue. The amount saved from the removal of fuel subsidies total RM3.7 billion.

Measures
: The government, in considering these factors, have revised their fiscal deficit target to 3.2% as opposed to the earlier planned 3%.

On the fluctuating Ringgit

The fast weakening Ringgit in recent weeks have caused many of us much worry. The government also mentioned what it plans to do in the face of this currency volatility.

Reason for decline
: The drop in oil prices has caused concern in the global community about Malaysia’s economy, causing the depreciation of the Ringgit.

Measures
: The government promised firm monitoring of the surplus, pushing forward with fiscal reforms and consolidation and diversifying economic activity to counter falling oil prices. Greater policy flexibility and more diversified markets amongst others, will see the country through this challenging time. The financial system needs to continue in an orderly manner.

Other strategies to strengthen economic resilience

The government also announced other strategies to strengthen the nation’s economy.

Boost the export of goods and services.

Improve roads and transport systems to enhance logistics and facilitate trade.

Intensify the tourism industry.

Review the levy on foreign workers.

Visa fee waiver for select tourists.

Promote domestic tourism, shopping and buying Malaysian made goods.

Encourage GLCs and GLICs to invest domestically.

Postpone hikes in electricity and gas tariffs.

Reschedule purchases of non-critical assets including office equipment, software and vehicles.

Halting national service (Program Latihan Khidmat Negara) for the time being.

Assisting businesses and individuals in rebuilding infrastructure after the flood.

Provide RM893 million for flood mitigation projects.

Special personal loans with reduced interest rates from
Bank Rakyat
 for flood victims.

At the end of it all, the PM assured the people that we are not in recession such as that of 1997/98 and 2009 and thus no stimulus package is required. The Development Expenditure estimate of RM48.5 billion for 2015 will be maintained and spent.

If you’d like to read more details on the revision; the full transcript of the speech is available on the PM’s website.

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Diana Chai

Diana Chai

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Enjoy Guaranteed Gifts Of RM1,000 Firefly e-Voucher, RM600 Cash Or AirPods Pro With RinggitPlus’ Unbox This Week Campaign

For the last week of April, RinggitPlus’ Unbox This Week Campaign celebrates the month-end with guaranteed gifts all around!

The Unbox This Week is a weekly campaign where we showcase exclusive flash deals offered
by our featured bank partners. All you need to do is apply for selected credit cards by these banks and you’ll get to take home these awesome prizes.

This week (26 April – 30 April) the featured banks are
HSBC Bank, Standard Chartered Bank, and Citibank
— if you’ve c
onsidered applying for a credit card with any of these banks, make the most out of your application and check out the rewards they’re offering below.

HSBC: RM1,000 Firefly e-Voucher

Thinking of taking a trip away in the coming months? Then apply, get approved, and spend with selected HSBC credit cards to win the guaranteed prize of RM1,000 Firefly e-Voucher! Depending on your destination, it could be enough for a 2-way local trip for two!

Apply for selected HSBC credit cards through RinggitPlus and
upon approval, activate your new card and spend a minimum of RM1,000 within 60 days to take home your prize.

Just remember that current cardholders and applicants who were denied within six months prior to this campaign, as well as those who have canceled their HSBC credit cards within three months prior to this campaign are not eligible for our campaign. Otherwise, you can apply for your
HSBC credit card here
.

Standard Chartered: RM600 Cash via DuitNow

If travelling isn’t your cup of tea at the moment, why not shift your attention to another guaranteed gift? Standard Chartered Bank has an unlimited giveaway this week with RM600 via DuitNow as the cash prize for all approved applicants! Just apply and get approved for selected Standard Chartered credit cards. The RM600 cash prize will be credited into your DuitNow account in a single transaction, which means that you should apply for your card with a mobile phone number that is registered to a DuitNow account.

While this gift is guaranteed for ALL approved applicants, you’ll still need to activate your card within 30 days upon approval, in order to be eligible for this prize.

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

Citibank: Apple iPad Pro

Updated as of 27 April 2021

Looking to upgrade your regular earphones? Look no further than the Apple AirPods Pro.
Just apply, get approved, and spend with selected Citibank credit cards and you could be one of thirty randomly selected winners of a brand new pair of Apple AirPods Pro.

Those who don’t win an
Apple AirPods Pro
 will still receive a bundle gift of Redmi Airdots Earbuds and Haylou LS02 Smartwatch.

Once you’re approved, activate and start spending a minimum of eight retail transactions on your new card to be eligible for the gift. Once the bank has confirmed your eligibility, you’ll receive instructions from us via email on how you can claim your gift.

Take note, though, that current cardmembers and individuals who have cancelled their Citibank credit cards within a year prior to this campaign do not qualify for this promotion. Otherwise, those who wish to apply for their new Citibank credit cards can
head on over here to do so
.

***

Lastly, 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.

We refresh our deals every week so be the first to be updated on our latest Unbox This Week offers by following us on our
Facebook page
.

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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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CIMB To Launch Three All-New CIMB Travel Credit Cards On 21 October - Comes With Plenty Of Perks

It is known for a while that CIMB will be announcing a new set of travel credit cards that will replace the now-
discontinued Enrich co-branded cards
. Yesterday evening, CIMB shared
plenty
 of new information about the new cards – and there’s quite a lot of reasons to be excited if you’re an air miles credit card fan.

CIMB will be announcing not one, but
three
 new CIMB Travel Credit Cards on 21 October: the CIMB Travel Platinum Credit Card, the CIMB Travel World Credit Card, and the premium CIMB Travel World Elite Credit Card. These three will be replacing the three Enrich co-branded cards, and
existing users will be transitioned to the new cards
.

However, this is no mere relaunch – the new CIMB Travel Credit Cards pack a surprising amount of perks, which we’ll list down in this article. The main one will naturally be the ability to redeem air miles from more than just Enrich Points by Malaysia Airlines. In fact, you will be able to redeem from 11 frequent flyer programmes and 3 hotel chains.

While CIMB has revealed virtually everything about the cards, it has not revealed two equally important things: the cardfaces of these cards as well as the income requirements to qualify for them. We expect these to be revealed on 21 October.

CIMB Travel World Elite Credit Card

Screenshot placeholders because the new card faces aren’t yet revealed!

Let’s start with the flagship. The CIMB Travel World Elite Credit Card will replace the CIMB Enrich World Elite Card, and unlocks the miles-earning potential to more than just Enrich Points. CIMB hasn’t stopped there either – here’s what you need to know.

Best-in-class air miles earn rates

We’ve been told some time back that CIMB was launching a “best-in-class” air miles earn rate card, and it appears the bank has achieved just that with the CIMB Travel World Elite Credit Card. This card offers 10x Bonus Points for all retail transactions – overseas and local (it’s unclear if there are the usual exclusions like government spending) – resulting in a flat RM1 = 1 Air Mile earn rate (for
most frequent flyer programmes
 in the CIMB Rewards catalogue). With the recent revisions to some popular air miles credit cards, the CIMB Travel World Elite Credit Card is a compelling option for those looking for an air miles card that offers good benefits for local spend.

Spend categories
BP awarded for every RM1 spent
Overseas spend (including hotels)
10 BP
Airlines & duty free
10 BP
Other local spend
10 BP

Now, the fine print. CIMB states that the 10x BP benefit for other local spend is time-limited, applicable only from 21 October 2022 until 31 December 2023. After this period (and if there are no changes), all local spend (besides airlines & duty free) will only be awarded 2BP for every RM1 spent – the same as the other two cards.

You can view this in two ways: either it’s a short-term marketing ploy to hook you in, or it’s a year-long marketing campaign that allows you to maximise earnings for local spending.

New perks – lounge access, hotel benefits, WiFi cashback, comprehensive insurance protection

Besides the high air miles earn rate, CIMB is also packing a wide array of perks that cover other parts of travel too. Cardholders get a combined 12x access to Plaza Premium First (the higher end version of Plaza Premium Lounges), Plaza Premium Lounges, and affiliated lounges worldwide. This quota is shared by both principal and supplementary cards, a benefit that not all cards offer.

In addition, there are two new hotel benefits that come with the CIMB Travel World and CIMB Travel World Elite Credit Cards. New cardholders will enjoy a complimentary HoteLux Elite Plus membership for 12 months and 2,000 HoteLux points. This benefit is actually from a partnership between Mastercard and
HoteLux
, allowing cardholders to enjoy additional benefits reserved to hotel chain members, such as daily breakfast, hotel credits for dining or spa, late check-outs, and more. The second perk is more straightforward: complimentary 4 nights stay at participating
Marriott Vacation Club
 properties.

CIMB is even offering perks for cardholders
while flying
, in the form of in-flight WiFi cashback. This is definitely a rare benefit and quite a timely one considering more aircraft these days are being fitted with WiFi at more than useable speeds. For this card, you get up to RM80 cashback on WiFi spend per statement, which means you can enjoy this benefit every month (if you travel that often, you lucky fella).

Finally, rounding up the list of benefits is a comprehensive array of insurance that goes beyond travel insurance. This includes:

Up to US$500,000 travel insurance protection

Overseas Covid-19 Diagnosis Quarantine Allowance of US$150/day

Up To US$1,000 Rideshare

Up To US$1,000 Collision Damage Waiver (excess only)

Up To US$500 Wallet Guard

Up To US$2,000 Mobile Phone Protection

Up To US$1,000 E-Commerce Protection

Up To US$20,000 Purchase Protection

Of course, all these perks come with a pretty hefty annual fee of RM1,215.09 (the same as the Enrich World Elite Card previously), while supplementary cards’ annual fees are waived. There is an annual fee waiver of 50% or 100% but with spend requirements for the year: 50% waiver with RM120,000 spend, and 100% waiver with RM240,000 spend. This is definitely a card for the select few, and considering the value of the combined benefits of this card, they may find the annual fee worth paying.

CIMB World Travel Credit Card

Meanwhile, the existing CIMB Enrich World credit card will be replaced by the new CIMB Travel World card, which also rewards you with Bonus Points (BP) for every RM1 spent on in the same three categories as the CIMB Travel World Elite card – but at a lower rate of up to 8x. Additionally, it also has other travel perks, such as complimentary access to several premium lounges, hotel memberships, and travel insurance.

Specifically, the CIMB Travel World card will award BP according to the following expenses:

Spend categories
BP awarded for every RM1 spent
Overseas spend (including hotels)
8 BP
Airlines & duty free
8 BP
Other local spend
2 BP

New perks – lounge access, hotel benefits, WiFi cashback

On top of this, CIMB Travel World cardholders enjoy the same 12x complimentary airport lounge access as the CIMB Travel World Elite, applicable to Plaza Premium First, Plaza Premium Lounges worldwide, and affiliated global lounge partner network. This perk is provided for both the principal and supplementary cardholder.

There’s also the same hotel benefits in the form of complimentary HoteLux Elite membership (12 months and 1,000HoteLux points) and four-night stay at participating
Marriott Vacation Club
 properties.

However, some other benefits are pared down, such as the complimentary insurance provided which only includes travel insurance with up to RM1 million coverage, and WiFi cashback of up to RM50 per statement cycle.

The annual fee for the CIMB Travel World card remains the same as the CIMB Enrich World card’s; principal cardholders will need to pay RM554.72 per annum, while supplementary cardholders can enjoy a waiver. The annual fee for principal cardholders can be waived, however, with RM60,000 spend per annum (50% waiver) or RM120,000 spend per annum (100% waiver).

CIMB Travel Platinum Credit Card

Finally, the CIMB Travel Platinum credit card is the entry-level variant. As the lowest tier card out of the three CIMB Travel credit cards, however, you’ll only be able to earn up to 5BP via this card.

Here’s the exact BP rewards rate for the CIMB Travel Platinum card:

Spend categories
BP awarded for every RM1 spent
Overseas spend (including hotels)
5 BP
Airlines & duty free
5 BP
Other local spend
2 BP

New perks – lounge access, WiFi cashback, airport transfer

As for other travel perks, the CIMB Travel Platinum card also offers complimentary airport lounge access to Plaza Premium First, Plaza Premium Lounges worldwide, as well as affiliated global lounge partner network to both the principal and supplementary cardholder – but at a lower amount of up to 4x. It’s worth noting here that if the minimum income requirement for this card is the same as its predecessor at RM24,000/year (RM2,000/month), this will be one of the only credit cards in its tier to offer lounge access.

(Image: New Straits Times)

Aside from that, unlike the two higher-tiered cards, the CIMB Travel Platinum card does not offer hotel benefits, but it
does
 have an airport transfer perk unique to this card. As a cardholder, you’ll be able to claim up to 2x Grab rides (up to RM65) when travelling to or from any of the ten local airports listed below:

KLIA

KLIA2

Sultan Abdul Aziz Shah Airport (Subang Airport)

Penang International Airport

Langkawi International Airport

Senai International Airport

Kota Kinabalu International Airport

Kuching International Airport

Miri International Airport

Tawau Airport

However, there is a spend requirement to “unlock” the airport transfer benefit of RM3,000 per quarter. Upon completion of that, cardholders will receive a promo code via email which can then be entered in the Grab app when going to or from the airport. In the next quarter, you can receive another promo code upon meeting the RM3,000 spend requirement. However, this benefit is limited to two promo codes per calendar year.

Finally, there are two more travel perks: travel insurance of up to RM1 million coverage, as well as up to RM30 cashback for in-flight WiFi per statement cycle.

Unlike the two higher-tiered cards, the CIMB Travel Platinum is free for life, with the annual fee waived for both principal and supplementary cardholders.

Initial Impressions

Overall, it does look like CIMB has released some interesting cards with the new CIMB Travel Credit Cards. The World Elite Travel looks like a real challenger to the status quo of high-end cards like the Citi Prestige and the American Express Platinum charge card – though the 1-year-only benefit of the 10x BP for local spend is a bummer.

Meanwhile, the CIMB World Travel Card and CIMB Platinum Travel Card are both interesting products – but its success will likely depend on their qualifying income range. If the CIMB Platinum Travel Card remains an entry level card, it’ll be one of (if not the only) card in its tier to offer airport lounge access.

On the other hand, the CIMB World Travel Card enters a competitive space featuring a large majority of travel cards. Its overseas air miles earn rate is competitive at RM1.25/mile (though not the best), but its generous lounge access and first-year-only hotel benefits could sway other cardholders who’ve had their card benefits revised recently.

The new CIMB Travel credit cards will officially launch on 21 October 2022.

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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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SMEs And Businesses: Key Highlights In Budget 2021

Last Friday, Finance Minister Tengku Zafrul Abdul Aziz tabled the highly awaited Budget 2021, which was described as an
expansionary budget
 that will support the people and revive the economy of the country. It saw
various measures
 being introduced to benefit different economic sectors and segments of the society, especially amidst the current challenging financial landscape.

For small and medium enterprises (SMEs), micro SMES (MSMEs), and business owners, here’s a list of key benefits that you can expect to tap into from the latest national budget.

Enhanced targeted loan repayment assistance

Micro-enterprises with loans of up to RM150,000 will have access to an
enhanced targeted repayment assistance programme
 from December 2020 onwards. You will be given two new options, namely:

Option 1: Postponement of repayment for 3 months

Option 2: 50% reduction in monthly instalment for 6 months

This enhanced assistance will also cover loan facilities that were approved before 1 October 2020, provided they are not in arrears for more than 90 days. If you wish to take on either options, you can head on to your respective banks to speak to their representatives. No additional documentations are required, according to the finance minister.

Financial aid for bumiputera entrepreneurs and entrepreneurs from other communities

A total of RM4.6 billion will be set aside to assist bumiputera entrepreneurs, providing them with financing options via several avenues, including:

TEKUN Nasional and Perbadanan Usahawan Nasional Berhad (PUNB)

RM510 million to finance bumiputera SMEs and MSMEs

Syarikat Jaminan Pembiayaan Perniagaan (SJPP)

RM2 billion to finance bumiputera SMEs

Bank Pembangunan Malaysia and SME Bank

RM800 million for capacity building programmes, such as employee upskilling and tool upgrades

The government is also allocating RM1.3 billion for various capacity building programmes, including professional development,
Dana Kemakmuran Bumiputera
, as well as other specific programmes or projects specifically for bumiputeras.

Apart from that, the government will provide RM20 million specifically for Skim Pembangunan Usahawan Masyarakat India (SPUMI), and another RM5 million for entrepreneurship development for other minority communities.

Financing aid and training programmes for women entrepreneurs

(Image: Malay Mail/Hari Anggara)

RM95 million will be set aside for a special micro credit financing facility specifically for women entrepreneurs, to be disbursed via TEKUN Nasional, MARA, and Agrobank. This is on top of another RM50 million that is offered to support them via Ar-Rahnu BizNita, a programme parked under the Islamic Economic Development Foundation (YaPEIM).

Additionally, more than 2,000 women entrepreneurs will be able to benefit from guidance courses via the Micro Entrepreneur Business Development Programme (BizMe). These guidance programmes include coaching in matters such as packaging and labelling, marketing strategies, as well as technical guidance of businesses.

Improved access to financing aid via micro credit financing

(Image: The Malaysian Reserve)

As much as RM1.9 billion of soft loan funds and grants have been provided via the
PRIHATIN
 and
PENJANA
 packages to help SMEs and MSMEs facing difficulties accessing financing aid. The government aims to continue helping these entrepreneurs by enhancing different avenues for micro credit financing.

Firstly, SME Bank will provide the Lestari Bumi financing facility scheme with funds amounting to RM300 million. This fund is aimed at encouraging SMEs and MSMEs to move up the value chain by transforming and improving their businesses.

In addition to that, the government will also introduce the National Supply Chain Finance Platform, dubbed Jana Niaga, to assist SMEs that supply to the government or government-linked companies (GLCs). This platform is expected to help these businesses with cash flow issues due to their long invoice payment period, as well as enable them to secure loans from financial institutions. It will be spearheaded by the Export-Import Bank of Malaysia (EXIM Bank), with a fund allocation of RM300 million. For now, Jana Niaga will be implemented together with Petronas and Telekom Malaysia, and will soon be extended to other GLCs, ministries, and government agencies.

(Image: Berita Harian)

Businesses can also tap into an enhanced peer-to-peer (P2P) financing facility, an alternative financial aid under the supervision of the Securities Commission Malaysia. This facility has generated financing in excess of RM900 million for SMEs, especially those based on an invoice financing, and now the government will be supporting it with an injection of RM50 million fund.

Aside from that, micro credit financing aid worth almost RM1.2 billion will also be disbursed through TEKUN, PUNB, Agrobank, Bank Simpanan Nasional, as well as other financial institutions. This amount includes a total of RM110 million that is allocated under the Micro Enterprise Facility (via Bank Negara Malaysia) to encourage entrepreneurship among gig workers and the self-employed, as well as to enhance the iTEKAD programme. To clarify, the
iTEKAD programme
 was introduced to empower microentrepreneurs from the B40 segment to generate sustainable income.

Finally, the government will allocate RM230 million through PUNB as financing for SMEs. Businesses can tap into this allocation for working capital, funds for the upgrading of their automation systems and equipment, as well as expenses related to the implementation of Covid-19 standard operating procedure (SOP) compliance.

Enhanced government guarantee schemes

The government will provide an additional RM10 billion for government guarantee schemes that are provided via Syarikat Jaminan Pembiayaan Perniagaan (SJPP), with RM2 billion reserved specifically for bumiputera entrepreneurs. This is on top of the RM25 billion that has already been allocated for this initiative thus far.

Simply put,
government guarantee schemes
 are alternative solutions where the Malaysian government stands in as a guarantor for eligible SMEs so that these businesses can obtain credit facilities from participating banks. These schemes provide a guarantee coverage of up to 80%, and the facilities obtained can only be used for working capital or capital expenditure.

Targeted assistance and rehabilitation facility

SMEs that are financially affected can also look into the Targeted Assistance and Rehabilitation Facility that is worth RM2 billion. Parked under the jurisdiction of Bank Negara Malaysia (BNM), this fund will be introduced via loans from banking institutions.

Incentives for local entrepreneurs and to boost consumption of local products

(Image: The Star)

The government will introduce the Micro Franchise Development programme and the Affordable Franchise Scheme to help
entrepreneurs who are interested in venturing into the local franchising industry
. In addition to that, the Buy Made In Malaysia programme – which was launched in July 2020 to
boost consumption of local products and services
 – will also be continued. A total of RM25 million will be allocated for the three aforementioned incentives.

Aside from that, RM150 million is to be set aside to re-implement the
Shop Malaysia Online initiative
, which was previously introduced under the
PENJANA economic recovery plan
 and had ended in September. The initiative operated on the collaboration between the government and several participating e-commerce platforms to offer discount vouchers for consumers, thereby stimulating the e-commerce ecosystem. This round, it is expected to benefit 500,000 local sellers, including halal products and handicraft entrepreneurs.

The government is also injecting another RM150 million for the
e-Commerce SME and Micro SME campaign
 to encourage 100,000 local entrepreneurs to embark on their e-commerce journey. The fund can be used for training programmes, sales assistance, and digital equipment.

Lastly, RM35 million will be parked under the Trade And Investment Mission effort to promote Malaysian-made products and services in foreign countries.

Exemption from Human Resources Development Fund (HRDF) levies

Companies that are still affected by the Covid-19 pandemic will be exempted from paying the HRDF levies for 6 months, starting from 1 January 2021. It will also cover the tourism sector.

To clarify, the
HRDF levy
 is mandatory levy payment collected by the HRDF from employers in specific industries, and it is intended to provide employee training for the Malaysian workforce. Depending on the size of your company’s workforce, the rate of HRDF levy imposed can be either 0.5% or 1% of the monthly wages of each employee.

Financial aid for the digitalisation of businesses

The government has emphasised that it will focus on long-term productivity via new technology to accelerate the country’s transformation towards a high-income nation. For this reason, grants and loans will continue to be provided to encourage SMEs and businesses to digitalise their operations and trade channels.

Chief of this is the Industrial Digitalisation Transformation Scheme that is valued at RM1 billion, to be provided via Bank Pembangunan Malaysia Berhad (BPMB). Aimed at boosting digitalisation activities, this fund will be available until 31 December 2023.

On top of that, the government is also injecting an additional RM150 million into the existing
SME Digitalisation Grant Scheme
 and
Smart Automation Grant
 in support of automation and modernisation. There are also plans to relax the eligibility requirements for MSMEs and start-ups applying for these grants if they have operated for at least six months.

Tax exemption for equity crowd financing (ECF)

Start-ups and businesses that tap into equity crowd financing as a form of alternative financing method will be entitled to a tax exemption of 50% of the investment amount (capped at RM50,000). In addition to that, RM30 million will also be allocated through matching grants to be invested on ECF platforms – an initiative to be supervised by the Securities Commission Malaysia.

***

With this, we hope that you now have an idea of some key initiatives in Budget 2021 that will benefit SMEs, MSMEs, and other businesses in the upcoming year. You can also check out our
comprehensive infographic
 for other highlights of the latest national budget, and our
in-depth coverage
 here.

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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 Being Multilingual Makes You Better at Haggling

It’s not unreasonable to claim that most Malaysians are at least bilingual. We’re constantly exposed to billboards, advertising, and public announcements in more than one language. Being multilingual affords us plenty of advantages including access to various cultural experiences,
potential delay of onset Alzheimer’s disease symptoms
, and even an enhanced ability to bargain.

Have you noticed that people (maybe even yourself) will sometimes change the way they talk and even pepper their sentences with non-English words when negotiating prices or ordering at a local hawker stall? We do this because it works. Not all the time and not at every level, but it does. There are several reasons why this is so.

Instant Kinship

The use of a shared language signals more than just familiarity. It also suggests communality between speakers. When fluent speakers of Tamil recognise each other for example, they both also recognise that the other person is more likely to be familiar with Tamil movies, Indian customs, and temple activities.

Biologists refer to this as ‘
kin recognition
‘, or the ability of a species to acknowledge and accommodate beings of the same family or tribe. A simple sentence spoken in the right language can trigger this immediate bond and invite the seller to be more helpful to the buyer. Which can then lead to more generosity with regards to discounts or special offers.

Linguistic Personality

The linguist
Benjamin Lee Whorf
 claims that each language has its own specific identity. That is to say that the language a person uses can affect the way they think and act. Consider how Malay encourages the use of different first person pronouns depending on the level of familiarity between speakers (
saya
 is more polite than
aku
 for example) where English does not.

Multilinguals can then sound more polite when addressing themselves in Malay compared to English. This linguistic personality can then be imparted in their message, softening the request from a buyer and making them more likely to acquiesce.

Appreciation for Effort

Learning another language, especially if you didn’t grow up exposed to it, takes time and energy. The less likely you are to know a language when you do, the more impressed a native speaker will be once they learn that you know it.

A native speaker of an obscure dialect or a little-known language will be appreciative of your efforts in studying their language beyond just a “hello” or “thank you” and is more likely to reward your endeavour with some welcome discounts or freebies.

Removing Information Asymmetry

In trading, the seller always benefits when they know more than the buyer. Some less tactful sellers may even discuss short-changing the customer out loud in a language they assume the customer doesn’t understand.

Revealing that you do speak the same language as the seller disables this advantage. They may even feel more obliged to ‘come clean’ and offer you some extra goodies so you don’t tell others about their shady shenanigans.

Now we know that being good hagglers isn’t just the result of being doggedly persistent, it’s also because of our multilingual surroundings. If you can’t yet speak more than one language or know somebody who doesn’t, there’s no better time than now.

Speaking of special offers, check out the
latest promotions and deals
 on the similarly titled subsection of our site. Recently there have been some good deals on Yee Sang and fine dining for you to ring in the Chinese New Year with.

Does being multilingual help you in your business? How so? Share with us your story on the comments section down below!

Photo credits:
TheeErin on flickr
,
Brian Smithson on flickr
, and
The Oregon Department of Transportation on flickr
.

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Ahmad Mudhakkir

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MAVCOM Now Aims To Gazette Enhancements To Aviation Consumer Protection Law By Mid-2023

(Image: Malay Mail/Miera Zulyana)

The Malaysian Aviation Commission (MAVCOM) has revised the target date to gazette its proposed enhancements to the Malaysian Aviation Consumer Protection Code (MACPC), now setting it to the end of June 2023. Prior to this, the commission had hoped to gazette the MACPC amendments in the first quarter of 2023.

“We had a consultation process last year, and we hope to get another follow-up session with the airlines this month, and then we get all of the internal approvals. We hope to gazette it, let’s say targeted by mid-year,” said the chief operating officer of MAVCOM, Raja Azmi Raja Nazuddin. He also emphasised that while the commission will do its best, the dates are out of its control as there are things that could happen unexpectedly to affect the process.

In October 2022, MAVCOM had proposed
several enhancements to the MACPC
 that are aimed at strengthening consumer protection for travellers. Among other things, it is proposed that passengers should get their refunds for flight disruptions in the original mode of payment, namely cash. This means that airlines will no longer be allowed to offer refunds in the form of travel vouchers or re-bookings – as many have done for flight cancellations during the Covid-19 pandemic.

(Image: Malay Mail/Devan Manuel)

Additionally, the MACPC enhancements proposed that passengers should also get the option to obtain a refund if a flight is delayed for two hours or more, as opposed to the current provision of just free meals and refreshments, internet access, hotel accommodation, as well as other relevant facilities (for flight delays of two hours or exceeding five hours). Moreover, airlines will be required to provide information on overbooked flights.

The existing MACPC, meanwhile, was gazetted back in June 2016, and applies to all local and international airlines. Both full service or budget carriers operating into and out of Malaysia must also abide by the code. Other consumer protection measures that are listed under the current MACPC include the offer of a refund of flight ticket for travellers within 30 days if flights are cancelled or significantly changed.

(Source:
Malay Mail
)

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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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Prasarana Unveils Its Integrated Mobile App: MyRapidTap

Malaysians will soon be able to pay for their rides on public transports without the need to buy a ticket token, courtesy of Prasarana Malaysia Berhad (Prasarana). Prasarana is currently testing its latest mobile app, the “MyRapidTap”, which will enable Malaysians to pay for public transportation rides with their smartphones, on top of other convenient services.

The “MyRapidTap” is Prasarana’s take on a digital wallet with several features that distinguish it from other e-wallet platforms. Like any e-wallet, users can pay for their purchases by scanning the designated QR code, and MyRapidTap allows its users to pay for their public transport rides in the same manner. This feature provides convenience to the user by removing the need to buy a ticket or a Rapid Pass.

Another unique feature that “MyRapidTap” is that users can now make early preparations for their trips via the Journey Planner feature. The Journey Planner feature provides the users with suggested routes, estimated time of arrival and fare details of the suggested routes. This feature allows them to compare and choose the routes they wish to take based on the length of the journey and the prices of the public transportation rides for the trip.

Asides from the ability to plan your journey, the app will provide the users with notifications with deals and rides updates. Prasarana stated that MyRapidTap users will be notified of any updates regarding their rides, like maintenance schedules and ride disruptions. Besides that, users will be updated on the latest deals by Prasarana’s partner merchants.

Prasarana stated there will be more features to be added into the app in the coming months. The “MyRapidTap” app is available for download on both the
Google Play Store
 and the
Apple App Store,
 but some features like the mobile shopping page, merchant deals page, and the e-wallet are still under development.

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HLB Ladder Up Campaign Offers Grand Prize Proton X90, Other Exclusive Rewards

Between today until 30 November 2023, Hong Leong’s Visa credit cardholders can participate in the bank’s Spend & Ladder Up! Campaign, which offers a range of premium prizes such as a Proton X90 1.5TGDi BSG Premium, Apple iPad, and Samsung Galaxy Watch 5 Pro.

The campaign essentially requires you to earn entries – or known as “plays”, in this case – which you can then use to play a virtual Snakes & Ladders game and win prizes. The entire campaign period itself is divided into two periods:

Spend period (8 Aug to 6 Nov)
: Carry out selected transactions with your HLB Visa credit cards to earn your plays

Play period (24 Aug to 30 Nov)
: Use plays earned to roll the dice in the game and win prizes from the prize boxes found on board

Here’s the full list of prizes that you can expect to win if you do participate in this campaign and play the game during the play period:

Types of prizes
Details
Numbers of winners (whole campaign)
Finisher (Ultimate prize)*
*
available only from 1 November 2023 onwards
Proton X90 1.5TGDi BSG Premium
1
Finisher (Grand prize)
– Apple iPhone 14 Pro (256GB)
– Apple Watch Ultra
– Sony PlayStation 5
– Samsung Galaxy S23
– Apple iPad 64GB Wifi
– Samsung Galaxy Watch 5 Pro
– Nintendo Switch
– Marshall Emberton II Speaker
104 (with an allocation of 34 or 35 winners per month)
Gold coins
Cashback between RM18 – RM388
2,670 (with an allocation of 890 winners per month)
Silver coins
Cashback between RM0.50 – RM8
37,800 (with an allocation of 12,600 winners per month)
Merchant vouchers
Vouchers from various merchant partners, including Lazada, Shopee, Touch ‘n Go (TNG), Grab, and Shell
5,000 (with an allocation of 1,666 or 1,667 winners per month)

To earn your plays and win these exclusive prizes, go ahead and perform any of the following transactions during the spend period (8 Aug – 6 Nov):

Transactions
Number of plays earned
Every RM50 spent with your physical HLB Visa credit card
1 play
Every RM50 spent with your HLB Visa credit card via:
– Google Pay
– Samsung Pay
– E-wallet transactions on TNG eWallet, Boost, BigPay, FavePay, ShopeePay, Lazada Wallet, and GrabPay (card details must be saved)
– Online shopping, online bill payments, and e-commerce spend
2 plays
Additional bonus
: Accumulate minimum spend of RM500 or more in a week (from Tuesday to the following Monday)
Additional 10 plays

Note that there is a limit to the number of plays that you can earn via a single transaction (capped at 50 plays) and with the same merchant in a campaign month (capped at 100 plays). Meanwhile, qualifying transactions for this campaign include both online and offline retail transactions made locally and internationally.

After performing any of the eligible transactions listed above, your earned plays will be credited to you at a later date, as specified in the table below. You’ll also receive in-app notifications from the bank via HLB Connect or SMS, informing you of the number of plays that you’ve earned and your login details for the game.

Campaign month
Date of eligible transactions
Earned plays to be added by this date
1
8 – 31 Aug 2023
11 Sept 2023
2
1 – 15 Sept 2023
16 – 30 Sept 2023
25 Sept 2023
11 Oct 2023
3
1 – 15 Oct 2023
16 Oct – 6 Nov 2023
26 Oct 2023
17 Nov 2023

Do be aware that the bonus plays earned via your weekly cumulative spend must be redeemed separately using a redemption code! This is to be done on the campaign website, where you play the game once you’ve gained access to it.

To play the game, simply use your earned plays to roll your dice and move your position on the virtual Ladder Up boardgame. For those who land on a prize box (gold or silver coins, or merchant vouchers), you’ll be required to answer a question correctly in order to win the prize. Meanwhile, finishers do not need to answer any questions; they only need to roll the exact number required to land on the Finisher box to obtain the finisher reward (ultimate or grand prizes). Prizes will be awarded on a first-come first-served basis.

If you do win, you will receive a notification from HLB within 100 days after the end of the campaign period, and get your prizes on or before 9 March 2024. HLB also clarified that each cardholder can only win a maximum of one grand prize, in addition to five gold coin prizes, five silver coin prizes, and five merchant vouchers.

Individuals who are interested to participate in this Spend & Ladder Up! Campaign can already begin to carry out the necessary transactions to earn their plays. No registration is required to join the campaign.

(Source:
Hong Leong Bank
)

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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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    CKLim

    30 days ago

looking at the snakes on the last row, its gonna be hard to finish

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EPF Introduces Jom Tambah Campaign To Raise Public Awareness, Boost Retirement Savings

The Employees Provident Fund (EPF) has recently launched its Jom Tambah campaign, which seeks to raise public awareness as well as encourage more members to increase their EPF savings via voluntary contributions. This is in hopes of helping them to improve their retirement security, especially in light of recent concerns of members’ insufficient retirement funds.

According to the chief operating officer of the EPF, Sazaliza Zainuddin, data from September 2022 has shown that only 34% of members aged 54 had made a contribution of RM10,000. Meanwhile, approximately 56% contributed below RM50,000.

“We will face an issue in the future if we do not do anything about it, especially the young people. From the data, it can be seen that the people who worked then did not contribute consistently, probably because they stopped working after having a family. So when they reach retirement age, they will face financial issues,” said Sazaliza, adding that this has prompted the EPF to introduce the Jom Tambah campaign.

(Image: The Star)

Sazaliza also shared that the EPF’s
voluntary contribution programme
 – which enables members to voluntarily make contributions to boost their EPF savings, as opposed to statutory contributions – currently allows members to increase their contribution by a minimum of RM10, up to a maximum of RM60,000 per year. Those who wish to do so can use the i-Akaun app and pay via online banking. “We also encourage our members to deduct, for example, RM50 or RM100 per month so that they can consistently contribute to EPF,” he further remarked.

On top of the voluntary contribution programme that is promoted via Jom Tambah, Sazaliza also highlighted that employees who are working in the private sector can actually request to increase their EPF statutory contribution rate to 13%. For context, employees’ statutory contribution rate is set at a minimum of 11% (whereas employers will contribute another 12% or 13%), but they have the option to increase it by informing their employers.

(Image: Bernama)

Additionally, Sazaliza said that the EPF is also actively conducting an outreach programme, especially for those who are working in the informal sector, gig economy, and with no fixed income. This includes collaborations with
tech giant Grab
 and
on-demand work platform GoGet
 to encourage their partners or members to contribute via
EPF’s self-contribution programme (i-Saraan)
.

“Up until now, more than 6,000 gig workers from these two platforms have contributed to EPF, while the cumulative number of registered gig workers is over 60,000,” Sazaliza said.

(Sources:
EPF
,
Sinar Daily
)

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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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Citi Campaign Offers 5% Cashback On Monthly Expenses, Up To RM400

(Image: HRNEWS.my)

Citi is currently running its 2022 March-May Spend and Get campaign, which allows selected credit cardholders to earn 5% cashback on their monthly expenses when they spend a specified minimum cumulative amount during each campaign month. Already ongoing, the promo will run for three months until 31 May 2022.

By invitation only, this campaign is made available to three different customer categories, with each category having a different qualifying requirement and cashback cap:

Category
Qualifying requirement
Eligible cashback per campaign month
Cashback cap per customer each month
Category 1
Minimum cumulative spend of RM300 per campaign month
5%
RM100
Category 2
Minimum cumulative spend as indicated in invitation SMS or email
5%
RM150
Category 3
Minimum cumulative spend as indicated in invitation SMS or email
5%
RM400

Note that any spend made on Citi cards qualify for this campaign, except for expenses such as existing recurring or auto-billing payments, JomPay transactions, and Citi 0% Easy Pay Plan.

As always, the cashback rewards will be provided on a first-come first-served basis to qualifying customers; if you do win, the reward will be credited into your account within 60 days after the end of each campaign month. Citi also clarified that it has allocated a budget of RM30,000 for Category 1, as well as RM240,000 (per category) for Category 2 and 3 for the whole campaign period.

Citi cardholders who wish to join this campaign will need to register their participation by responding to the invitation SMS or email sent to them. Upon successful registration, you’ll receive a confirmation message. Do also be aware that each eligible cardmember is only required to register only once during the campaign period, even if you have more than one Citi credit card.

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

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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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The All-Around Notebook For Every Task

Whether you’re a parent, professional, or student, multitasking is a priceless skill that can be applied to many parts of our lives. The ability to juggle multiple responsibilities, focus on the task at hand, and deliver excellent results requires a significant amount of brain power – although it can be made easier with a device that can accommodate switching from task to task, especially for professionals.

The JOI Book Touch 330 is a 360° convertible PC that can provide exactly that. With its stylish and sleek grey exterior, the device weighs only 1.3kg and is 12.8mm thin (when folded).

Here are the 4 ways the JOI Book Touch 330 can impressively adapt to any task:

Showcase Your Ideas On The Go With Presentation Mode

Easily present your ideas by adapting your device to Presentation Mode, allowing yourself and your team to visualise ideas, plans, and all sorts of multimedia.

Switch It Up With Multimedia Mode

If the Presentation Mode isn’t much your style of presenting your ideas, try impressing your audience by folding the JOI Book Touch 330 Pro into Multimedia Mode, allowing you to still use the keyboards when showcasing your ideas.

All-Hands On Deck With Tablet Mode

If you’re a designer, then laying your JOI Book Touch 330 Pro flat to get handy is a feature that you’ll appreciate. Combined with the JOI Active Pen Pro, you’ll be able to add a personal touch to your designs with the help of technology.

Even if you’re not a designer, Tablet Mode with the  JOI Active Pen Pro allows any professional to quickly make edits, comments, and improvements to any media. On top of that, Tablet Mode may also be your favourite mode when it comes to collaborating and brainstorming with others.

Business As Usual With Laptop Mode

Even with the many ways you can bend your JOI Book Touch 330 Pro, you’ll always be able to come back to the basic stance of an ever-capable laptop to get your work done efficiently and effectively.

What’s On The Inside?

Now that you’ve seen all the ways the JOI Book Touch 330 Pro can bend, the device also holds a powerful Intel® Celeron® N4120 processor and Intel® UHD Graphics 600 to keep up with your multitasking skills, providing you with accelerated productivity and performance.

When purchased, it originally comes with Windows 10 Pro, although you can easily upgrade the operating system to Windows 11. Not forgetting the Windows Hello feature for easy and secure login with your fingerprint.

To present and showcase your ideas beautifully during Presentation and Multimedia Mode, the JOI Book Touch 330 features a 13.3” FHD Touch-Screen Display that can hold 1,024 pressure levels and palm-rejection technology when switched to Tablet Mode.

***

If you’re looking for a device that matches your ever-changing working style and can seamlessly adapt to any task, then the JOI Book Touch 330 Pro is an excellent choice. Moreover, when purchased, users will also receive a few add-ons such as the JOI Active Pen Pro, 256GB SSD upgrade, a JOI Backpack, and the option to upgrade to M.2 Type 22802 SSD for a more optimal experience with the JOI Book Touch 330 Pro.

Head to one of these stores to purchase one today!

JOI Shopee Mall:
JOI, Online Shop

JOI LazMall:
JOI Store

GLOO Website:
JOI Book Touch 330 Pro (N4120, 4GB + 64GB, 13.3” FHD, W10Pro) {Free 256GB SSD + Active Pen Pro 330 + JOI backpack}

IT World Website:
JOI Book Touch 330 Pro (N4120, 4GB + 64GB, 13.3” FHD, W10Pro) {Free 256GB SSD + Active Pen Pro 330 + JOI backpack}

GLOO Lazada:
GLOO STORE | MY

GLOO Shopee:
Gloo Store, Online Shop | Shopee Malaysia

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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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PIDM Partners With MAB To Develop Financial Literacy Modules For The Blind

(Image: The Star)

Malaysia Deposit Insurance Corporation (PIDM) has renewed its collaboration with the Malaysian Association of the Blind (MAB), and will be rolling out financial literacy modules for the blind in this latest partnership. This is in a bid to offer the blind community better access to financial education.

According to PIDM, the financial literacy modules will be provided as part of the Sijil Kemahiran Malaysia training at MAB, covering a variety of financial topics. These include financial planning, budgeting, debt management, as well as banking and insurance products. They also contain information on PIDM’s protection systems and financial scams.

Additionally, the modules will be made available in two formats: Braille and audio compact discs (CD). The CDs will be distributed to MAB students and members, on top of to schools and libraries with integrated facilities for the blind. Members of the blind community who are not registered with MAB can also obtain a copy of the CD by writing in to MAB.

Aside from introducing the financial literacy modules, PIDM had also revamped its website earlier this year to make it more accessible for individuals with visual impairments, with the ability to adjust the font size and to grayscale the page.

“As a government authority responsible for protecting the people’s hard-earned money in our member banks, we recognise that depositors live in different circumstances, including visual impairment. The blind are equally important members of the overall financial ecosystem and must be empowered with the necessary knowledge to improve their financial health and resilience,” said the executive vice president of PIDM, Wan Ahmad Ikram Wan Ahmad Lotfi.

Meanwhile, the chief executive officer of MAB, George Thomas said that MAB is grateful and honoured to be able to work with PIDM again to bring financial literacy to the blind community. “It is MAB’s vision for the blind and visually impaired to be equipped with knowledge that can help them to manage their own finances and livelihoods,” he said.

PIDM and MAB’s collaboration began in 2020, when PIDM contributed 1,000 stay-safe kits to MAB during the Covid-19 pandemic. It continued in 2021, with PIDM sponsoring even more items, including 10 units of the Perkins Brailler mechanical braille writer and food baskets.

(Source:
PIDM
)

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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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HLB Wallet Now Open To Young Users, Upgraded With New HLB Wallet+ Tier

Hong Leong Bank (HLB) has updated its existing HLB Wallet to a new version that not only allows it to be used by adults (aged 18 and above), but also minors (aged 12 to 17). Additionally, selected adult users can upgrade their HLB Wallet to a higher tier called HLB Wallet+ for additional features, such as the multi-currency feature.

According to bank, the new HLB Wallet will continue to enable users to perform online transactions such as QR payments, bill payments (including JomPAY billers), fund transfers, and prepaid reloads. You can also continue to earn up to RM10 instant cashback per month when you perform selected digital payments with specified minimum amounts, including QR payments, bill payments, and prepaid reloads:

Like before, the HLB Wallet will also be tied to your HLB savings account and HLB Connect access; all HLB customers who apply for a HLB Wallet will be given an account number, a Visa debit card/card-i, and HLB Connect app access. This means that the money in your HLB Wallet is automatically protected by Perbadanan Insurans Deposit Malaysia (PIDM) as well, up to RM250,000 per depositor, and HLB Wallet users can also use the issued debit card to withdraw cash at any HLB automated teller machines (ATMs).

While all the features mentioned above are available on HLB Wallet, there will be some difference in the types of facilities that can be accessed by adult and minor HLB Wallet users. Some key instances include:

Minors (12 to 17 years old)
Adult users (18 years old and above)
Wallet size
RM2,500
RM4,999
Features (accessed via HLB Wallet and HLB Connect)
– QR payments
– Fund transfers
– Bill payments
– Prepaid reloads
*
 Total of all transactions via HLB Connect capped at RM200 daily
– QR payments
– Fund transfers
– Bill payments & JomPAY billers
– Prepaid reloads
*
Users allowed to set their own cap up to a maximum limit specified by HLB
HLB Visa debit card (issued with application of HLB Wallet)
– Offline retail purchases
– Online retail purchases
*
Daily limit of RM200 for each category, respectively

– Offline retail purchases
– Online retail purchases
– Cash withdrawal
*
Users allowed to set their own cap up to a maximum limit specified by HLB
Application for HLB Wallet
– Must be facilitated by parents
– Parents must make initial deposit of RM20 for their child/children to activate the HLB Wallet
– User to apply for and activate own HLB Wallet

In addition to this basic version of the HLB Wallet, selected adult users can also opt to upgrade their digital wallet to a higher tier called the HLB Wallet+. This tier will give them access to some extra features, namely an unlimited account size and the multi-currency feature. The multi-currency feature allows users to trade or spend in a total of 12 foreign currencies, including US dollar (USD), pound sterling (GBP), Chinese renminbi (CNH), euro (EUR), and Japanese yen (JPY) – which is great if you’re a frequent traveller.

For context, the previous version of HLB Wallet – which was launched early this year – was only open to adult users, and allowed all users access to the multi-currency feature. Back then, it was marketed as “the only multi-currency e-wallet that rewards you with instant cashback for your spending”. The app itself is free to use, but the
standard fees and charges
 for a HLB bank account and debit card will apply.

(Source:
HLB
)

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About THE AUTHOR

Alex Cheong Pui Yin

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

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RHB Launches Smart Interview Feature, First To Be Introduced In Southeast Asia

RHB Bank has rolled out its new Smart Interview feature, a virtual function that allows small and medium enterprise (SME) customers to complete their financing applications more conveniently. Believed to be the first such feature to be introduced in the Southeast Asian region, the feature also enables the ability to conduct interviews and site inspections virtually through customers’ mobile devices.

The Smart Interview feature is parked within the latest version of the RHB Financing (SME) mobile app. It utilises facial recognition technology and other technological innovations embedded within the app to carry out its functions.

Aside from the Smart Interview feature, the latest version of the RHB Financing (SME) app also comes with other upgrades to enhance fraud detection and customer security. These include integrated MyKad checks and application programming interface (API) data matching. “Through this digital platform, customers are able to submit and undertake all actions required to complete their applications online, which includes the uploading of supporting documents. Status of application is made available in real time via the mobile app,” said the bank.

The head of group business and transaction banking for RHB, Jeffrey Ng also chimed in to highlight some of the perks of these updates for the app. In particular, he said that the Smart Interview feature addresses customers’ shifting preference towards remote loan and financing applications in light of Covid-19.

“The application process is simplified by removing the need to conduct physical site visits to business premises as well as in minimising the amount of supporting documentation required. As such, we are able to provide business owners a more convenient, secure, and seamless experience for them to submit and complete their applications from the comfort and safety of their own offices,” Jeffrey said.

Jeffrey further stated that the RHB Financing (SME) mobile app is meant to complement the RHB SME Online Financing web portal in a bid to offer end-to-end innovative and versatile financial solutions for SMEs. To this end, the web portal is also powered by artificial intelligence, machine learning, and big data capabilities.

“The RHB SME Online Financing web portal and RHB Financing (SME) mobile app have benefitted more than 2,000 SMEs, with total financing of approximately RM500 million being approved in support of small businesses in Malaysia up to March 2021. As part of our wider RHB SME ecosystem, both the web portal and mobile app have attracted much interest from SME owners, where we have seen an overall increase of more than double in terms of application value over the past year,” explained Jeffrey, adding that the bank expects to extend another RM500 million in financing to small local businesses in 2021 with these latest enhancements.

The RHB Financing (SME) mobile app allows SMEs to apply for financing facilities of up to RM1 million, with a payment tenure of between 6 to 84 months without the need for collateral. SME customers are only required to submit six months’ worth of bank statements as supporting documentation – which can be uploaded through the system.

You can find out more about the Smart Interview feature and the latest
RHB Financing (SME) mobile app
 on the bank’s website.

(Sources:
The Edge Markets
,
Business Today
)

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Axiata-RHB Consortium Named As One Of Key Bidders For BNM’s Digital Banking Licences

(Image: The Star/Low Lay Phon)

The consortium comprising of Axiata Group and RHB Bank has been named as one of the key bidders to win a digital banking licence from Bank Negara Malaysia (BNM). This comes as the central bank prepares to announce the winners of the five licences that are on offer soon.

Just last month, the governor of BNM, Tan Sri Nor Shamsiah Mohd Yunus had said that the central bank was in the “advanced stage” of assessing the applications for digital banks, and it
aims to reveal the winners by the end of March 2022
. This will be timed to coincide with the publication of BNM’s annual report.

Tan Sri Nor Shamsiah also said that the evaluation has to be thorough as BNM had received as many as
29 applications
 – one of which is from the
consortium formed between Axiata Group and RHB
. Aside from the Axiata-RHB consortium, other notable applicants include
Grab
,
Sunway
,
BigPay
,
Genting
, as well as the
Sarawak state government
. Most of these applicants are also comprised of joint ventures and consortiums with other entities.

The
application for the digital banking licences
 first opened in January 2021, and BNM had emphasised from the get-go that it is looking for contenders who can cater to the needs of the unserved and underserved segment. It also highlighted that the new digital banks must be able to help people save for the future, as well as entrepreneurs in growing their businesses, especially with regard to e-commerce.

“We also expect the entry of these digital banks to accelerate the digitalisation of our incumbent banks. This will be good not just for the industry, but also for all of us here as customers of the incumbent banks,” Tan Sri Nor Shamsiah had stressed as well.

(Source:
Bloomberg
)

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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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How Robo-Advisors Make Investing More Affordable

Fees are important to consider when choosing an investment product because they have a direct impact on whether you can achieve your investment targets. Lower fees help you earn higher returns in the long-term, so you can reach your financial goals sooner.

So, when you have identified what you plan to invest your money on, it’s crucial not only to understand the associated risks involved, but also what the fee structure is like. Making sure you pay low fees for your investments isn’t always easy because not all fee structures are straightforward or explicitly disclosed.

What fees should you look for when you’re investing?

Typically, wealth managers, advisors, banks, and insurance companies charge some combination of the following fees:

Initial sales charge, or entry fee:
 This is a fee you might have to pay when you buy a fund, and typically is embedded into the pricing of structured investment products. In Malaysia, banks typically charge a 3-5% entry fee for Unit Trusts. This means that if you invest RM100,000, only RM95,000-97,000 will actually get invested.

Management fee
:
 Most fund managers charge a fixed percentage of assets under management on an annual basis. In Malaysia, balanced and Equity Unit Trusts typically charge a management fee of 1.5% – 2.0% annually.

Trading commission
:
 Some brokers charge a fee to process each transaction.

Withdrawal fee
:
 Withdrawal fees can vary depending on the amount withdrawn and how long you’ve had the portfolio. Ask your potential portfolio manager if you would have to pay a fee if you were to withdraw any amount from your portfolio at any time.

Switching fee
:
 In the case that you want to switch from one fund to another, you may incur a fee that goes to the manager.

If you don’t see these fees explicitly stated in a contract, be sure to ask the manager explicitly before you start investing. For instance, typical hybrid investment/insurance products, such as Investment-linked Policies (ILPs), charge a variety of different fees that add up to 2.5-4.0% annually.

Here’s an example of how those fees could stack up: if you buy a Unit Trust from a bank, you could pay an entry fee of 3% to 5% of assets invested every time you buy a fund or switch funds, plus a 1.5% to 2.0% annual management fee. If you pay a 3% entry fee and you change funds every 2 years, on average you pay 1.5% annually. Then add a 1.5% management fee: Your total fee will be on average 3% per annum.

Why do fees matter?

Although investing just about has a variety of fees, fee structures don’t have to be complex or expensive. So, what’s a low fee? 1% could sound low. So could 3%. And does a 2% difference really have an impact?

Let’s say you invest RM3,000 monthly for 25 years for your retirement into a Unit Trust with pre-fees returns of 6% annually, and a 3.0% total management fee annually. Meanwhile, a colleague of yours also invests RM3,000 monthly for 25 years for his retirement in a different product that also has pre-fees returns of 6% per annum, but charges 1.0% annually.

With lower fees over 25 years, your colleague will have RM440,000+ more than you. That RM440,000+ is equivalent to 150 months, or more than 12 years, of saving RM3,000 monthly! This colleague will be retired and sitting on a beach years before you can retire.

Robo-advisors keep your fees low

Does a fee lower than 1% mean you’re not getting a quality investment management product? Not at all. These days, it means that the investment product is cost-efficient (and perhaps that the manager has your best interests in mind!).

Over the last decade, technology has enabled online wealth managers, commonly known as “robo-advisors”, to emerge and flip the traditional fee paradigm by allowing individuals to get even better services at a lower cost. Low fees are certainly attractive, but it’s also the digital apps’ personalisation and convenience at such low costs that really make robo-advisors so compelling.

Because of robo-advisors’ technology-driven automated processes, they don’t have the high overhead costs that traditional advisors have. As such, robo-advisors can pass these savings on to clients: robo-advisors typically charge between 0.2% and 1% annually, and often don’t have other fees. That costs 2-3% less than a Unit Trust from a bank in Malaysia. That’s 2-3% more in returns just by paying less in fees.

The automation inherent with robo-advisors’ technology simultaneously achieves lower operational costs and greater portfolio management precision; that automation usually involves systematic portfolio management, meaning no human bias gets in the way. With unbiased automation, robo-advisors can efficiently update your portfolio while delivering the high-quality investment service you expect and deserve.

Robo-advisors are becoming so prolific that McKinsey & Co. reported that robo-advisors around the world could be managing up to $13.5 trillion USD worth of assets by 2020. Banks have even been adopting hybrid robo-advisors to improve their offerings.

Many robo-advisors have low or even RM0 investment minimums, usually no initial sales charge/entry fees, and no withdrawal fees, meaning that more people can now afford to invest their money These combined factors are why robo-advisors will soon be a common investment tool.

Say goodbye to traditional fee structures

If you are interested to try robo-advisors as an investment platform, you can now do so in Malaysia. The Securities Commission granted the first license to
StashAway
 in October 2018, and StashAway now accepts investments in Malaysia after operating in Singapore for 1.5 years.

StashAway
 has a simple fee structure that ranges from 0.2% to 0.8%, depending on the value of your assets under management. This one management fee is the only fee you’ll pay to StashAway. That means you’ll never be charged for withdrawing funds, missing a scheduled deposit, or changing your portfolio settings. Whether you’re investing RM100 or RM1,000,000, you’re getting access to institutional-level portfolio management sophistication at a fraction of the cost.

Wherever you end up investing your money, be sure you know what exactly fees you’re paying. It could make the difference between retiring at 60 instead of 65.
Find out more about StashAway
 and what it can do for you and your money.

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KiplePay Partners MEDAC And SME Corp To Launch WarongKu For Small Traders

(Image: BusinessToday)

The Ministry of Entrepreneur Development and Cooperatives (MEDAC) and SME Corp Malaysia have collaborated with e-wallet service provider KiplePay to officially launch the new WarongKu platform. The e-commerce platform aims to bring 25,000 small traders online, empowering them with their own payment terminals for cashless and contactless payment options by 2022.

As of today, the initiative has already equipped 3,000 small traders with payment terminals, with another 3,500 merchants to be brought onboard in the following batch. The payment terminals are provided by KiplePay, who is also powering the payment gateway, and customers of these onboarded merchants will be able to make online payments using their preferred e-wallet providers.

Upon signing up as a WarongKu merchant, the traders will then be provided with a Kiple Merchant ID so that they can receive their sales payments. The payments will be credited into their account within two days.

“In order to thrive in a post pandemic world, businesses are actively exploring how best to include digital solutions in their overall business to ensure continuity and keep up with an increasingly competitive ecosystem. The introduction of WarongKu aims to help small businesses address this need and is a timely initiative during Ramadan,” said the chief executive officer of KiplePay, Tan Kay Yen.

(Image: The Star)

The chief executive officer of Warong, Mohd Nadzri Kamarulzaman also chimed in to say that his company is especially focused on supporting the smaller traders and micro merchants – most of which are home-based businesses – as well as market sellers. “Partnering with Green Packet Berhad, the parent company of KiplePay Sdn Bhd, who has many years of experience in the digital field is a practical move to ensure that this community of small businesses has the necessary support needed to thrive in this new landscape,” he added.

WarongKu is not Nadzri’s first e-commerce platform venture; prior to launching WarongKu, he had also recently launched
Warong Rider
, a delivery platform that serves the needs of hawkers and petty traders. It was rolled out in February 2021, with the aim of maintaining a lower delivery rate for these businesses so that customers will be encouraged to order from them. WarongKu is essentially portrayed as a follow-up to complement Warong Rider.

Small businesses that are interested to find out more about the WarongKu platform can go ahead and
visit its website here
.

(Source:
Business Today
)

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Carlist.my’s DRIVE: Auto Fair 2019 Is Back For The Third Year

For the 3rd consecutive year, Carlist.my, Malaysia’s No.1 automotive platform will again host the Carlist.my DRIVE: Auto Fair 2019 at Setia City Convention Centre from the 16th to 18th August 2019.

Endorsed by the Malaysian Automotive, Robotics & IoT Institute (MARii), the event will include test drive sessions, exclusive deals and promotion packages from Malaysia’s largest car brands. With more than 30 car models from brands such as Mazda, Subaru, Nissan, Mitsubishi, Honda, Toyota, BMW, MINI, Proton and Perodua, there will be something for everyone. MARii will also showcase their own interactive display truck.

Promotions include free car mat vouchers from Trapo worth RM250 for the first 40 car loans approved as well as Pecca Leather RM1,000 cash vouchers to be given away to the first 5 confirmed car bookings. Public Bank will be offering low-interest rates on site and automotive accessory brands such as Superlon audio car insulators, Llumar tinting, Touch ‘n Go eWallet and Osren Luminous Malaysia will also have special offers, discounts, and merchandise available throughout the exhibition period.

There will also be tons of activities and promotions from Maxis, Monster Energy Drink, and Smart Cruiser Electric Scooters. For the kids, Sony Pictures Malaysia will feature a special Angry Birds play area.

An array of food trucks will be located outside the main hall, together with JPJ and PDRM booths to pay for your outstanding summons.

Carlist.my will be conducting daily lucky draw prizes which include electronic gadgets and holiday packages worth more than RM 30,000 in total. Visitors are encouraged to register themselves to be entitled to this contest. For race car fans, Aylezo Motorsports will showcase their Ginetta G55 GT3 and Caterham SP300R, while there will also be car stunt and drift performances by Subaru and Drift Factory Malaysia.

CEO of iCar Asia, Hamish Stone said, “We’re very excited to host our third Carlist.my DRIVE: Auto Fair event with something for everyone. We’ve had great support from visitors in previous years and we are bringing another high quality car show again this year. This event is now a major destination for those who are looking to test drive and buy new cars in one place, or looking to upgrade some car accessories.”

For more info about the exhibition and test drive booking, visit
www.carlist.my/drive/shahalam/2019.

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Guaranteed Gifts Coming Your Way Including DJI Tello Drone, RM800 Firefly e-Voucher, & More

Updated: 14 October 2021

The Unbox This Week credit card campaign is back with guaranteed gifts, fantastic gift options, and five participating banks!

For those who are new to this campaign, the 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’ll take home some great prizes.

For this week (11 – 18 October), our featured bank partners include

Citibank, HSBC Bank, Standard Chartered Bank, CIMB, and Alliance Bank.
So, if you’ve considered applying for a credit card with any of these banks, you know what to do to get more out of your application!

Citibank – Choose Between DJI Tello Drone or Xiaomi Robovac

From 11 – 18 October, Citibank is giving you the option to choose either a guaranteed DJI Tello Drone or Xiaomi Robovac as your gift when you apply for selected cards from Citibank through us!

If you’re just getting started, it’s easy to fly the Tello drone and all you need to do is just pull out your phone to fly anytime or anywhere with intuitive controls. Alternatively, you can opt for Xiaomi Robovac to conveniently keep your home clean and comfortable at all times.

Remember to activate and spend a minimum of eight retail transactions on your new card within 60 days upon gaining approval. Once the bank has confirmed your eligibility with us, you’ll receive instructions from us via email on how you can claim your gift.

Take note, though, that current cardmembers and individuals who have cancelled their Citibank credit cards within a year prior to this campaign do not qualify for this promotion. Otherwise, those who wish to apply for their new Citi credit cards can
head on over here to do so.

HSBC – Choose Between RM800 Firefly e-Voucher or RM600 Lazada e-Voucher

Have you been thinking of flying back to your hometown to be reunited with family and friends? Or have you been waiting for shop o’clock? We’re now presenting you with an option to choose either a guaranteed RM800 Firefly e-Voucher or RM600 Lazada e-Voucher this week as your gift when you apply for a credit card with HSBC!

Don’t forget to activate and spend a minimum of RM1,000 on your new card within 60 days upon gaining approval to be eligible for this gift. That said, do note that current cardholders and applicants who were denied within six months prior to this campaign, as well as those who have cancelled their HSBC credit cards within six months prior to this campaign are not eligible for our campaign. Otherwise, you can apply for your HSBC credit card
here.

Standard Chartered Bank – Choose Between RM800 Firefly e-Voucher or RM600 Lazada e-Voucher

Standard Chartered is also now giving ALL approved applicants a chance to choose your guaranteed gift between an RM800 Firefly e-Voucher or RM600 Lazada e-Voucher. Whether you’re looking to hop on the plane for a weekend getaway or get your hands on something you’ve been eyeing on, we’ve got the gift for you!

Everyone’s a winner when you apply for selected Standard Chartered credit cards. Just remember, you will need to activate your card within 30 days upon approval to be eligible for this gift. Lastly, be aware that existing cardholders and individuals who have held a Standard Chartered credit card in the past six months are not eligible for this campaign. If you qualify, then you can apply for your new Standard Chartered credit card
here.

CIMB – Russell Taylors Handheld Cyclone Vacuum VC-20

CIMB is giving away the guaranteed Russell Taylors Handheld Cyclone Vacuum Cleaner VC-20 to all its successful credit card applicants. Just apply, activate, and perform the first swipe of any amount to be eligible for this gift!

We know that hygiene is a top priority for all of us these days and equipped with a powerful 600W motor, this handy vacuum cleaner features a built-in HEPA filter that captures extra fine dust and dirt particles as well as an adjustable vacuum tube arm that extends to get to hard-to-reach places.

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 get the prize.

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

Alliance Bank – Honor Band 6 Smartwatch

This week, we have Alliance Bank joining the party with a guaranteed

gift

– the Honor Band 6 Smartwatch. This stylish gadget is not just about looks with six features that will help you stay fit including a 1.47″ large AMOLED screen, 14-day long battery life, 10 professional workout modes, and more.

Upon approval, you just have to activate to meet the requirements of the campaign and be eligible to get the prize.

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

***

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

While this week’s flash deal ends on 18 October (1pm), do 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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Setel Introduces CardTerus Feature, Removes Petrol Cashback For Wallet Top-Ups

Petronas-owned Setel app has rolled out CardTerus, a new function that allows users to pay for petrol directly by linking their credit cards to the app. This means you no longer have to top up the Setel e-wallet in order to pay for your refuel, making the process more straightforward and convenient.

With the introduction of this new feature, Setel also announced that users will no longer be able to earn petrol credit card cashback when topping up the Setel e-wallet. Moving forward, you can only earn your credit card’s petrol cashback benefits if you use the CardTerus option.

This change does alter the whole Setel user experience for petrol credit card users; they will no longer be using Setel as an e-wallet, but more like a petrol-purchasing app with its own direct payment feature. Of course, the convenience of paying from the comfort of your own car while automatically collecting Mesra points remains unchanged.

Setel’s FAQ also revealed that the CardTerus function does support debit card payments. However, you will be subjected to the standard pre-authorisation hold put in place by most banks, just like when you pay at the pump (except for
Maybank and CIMB
 debit cards at Petronas). As such, it would be a better option for debit card users to stick to topping up the Setel e-wallet instead of using CardTerus, and thus continue to bypass the pre-authorisation hold.

If you’d like to give the new CardTerus feature a try, you can enable it by first linking a credit card to your Setel account. Once that’s done, tap on the Setel icon on the top right corner (displaying your e-wallet balance) to change your payment method as well as to select your preferred card. You can refer to the video above to take you through the process.

First introduced in July 2018, Setel has since brought its
seamless payment experience
 to
more than 700 Petronas stations through a nationwide expansion
 at the start of this year.

(Source:
Setel
)

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Credit Card Payment

Digital Payments

Petrol Cashback

Petrol Payments

Petronas

Petronas Dagangan Berhad

Setel

Setel CardTerus

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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