Nasi Lemak: how much would you pay for a taste of home?

Come for the Nasi Lemak – stay for all the food in Malaysia

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What would you do without your
 nasi lemak
? Luckily for most of us,

despite rising prices, we still have the option of heading to a nearby stall

and getting ‘the works’ below the RM5 mark. A small, humble, pack of
nasi lemak bungkus
 can still be found

for as low as RM1.20.

Sure, some franchise restaurants operating

in shopping malls and affluent suburban areas offer their ‘own traditional

family-kept secret recipe’
nasi lemak

at premium prices of RM20 and above: but you know you can always fall back on

the smiling
mak cik
 in your housing

area who wouldn’t think twice about giving you an extra dollop of
sambal
 at no extra cost.

Sadly, for homesick Malaysians around the

globe: a taste of home will cost a pretty penny/dollar/ruble/peso… well you get

the idea.

Considered an ‘exotic’ dish (and we aren’t

disputing it!); only upper crust restaurants offer a good homestyle
nasi lemak
in big cities worldwide. Get

ready to fork out anywhere between RM26-RM45 for a decent
nasi lemak
 in these cities:

With prices like those; you may swear off
nasi lemak
 for as long as you’re there.

Or would you? How much would you pay for a taste of home?

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Finance Minister: Payments For Government Services To Go Cashless By 2022

(Image: The Sun Daily)

Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz has reiterated that the Ministry of Finance will implement cashless payments for all government services by 2022. This move will be carried out under MyDigital, Malaysia’s digital economy blueprint.

“This will lead to higher transactional security, better coordination, enhanced communication on anti-corruption initiatives, and greater ease of sharing information,” the minister justified. He also noted that 60% of the government’s total collection as of 2020 were already being made via e-payment, adding that the push to digitalisation has brought about a more streamlined public service delivery, as well as curb leakages, fraud, and corruption.

Tengku Zafrul further stated that the government’s effort in promoting digitalisation on various ends has helped to reduce direct contact points between citizens and public officials, thereby ensuring better efficiency and transparency. For instance, the government has shifted to electronic identification cards and biometric verification to identify citizens, which ultimately helps to expedite direct government assistance as well as ensure inclusivity, accessibility, and accountability.

The minister went on to point out that most of the government direct aids are now being carried out on a cashless basis, citing the Bantuan Prihatin Rakyat (BPR) initiative and Geran Khas Prihatin (GKP) aid as examples. The public can apply for both aids online, and approved funds will be disbursed to them electronically as well.

For context, the
MyDigital blueprint
 was launched at the beginning of the year, and it serves as a guide for the growth trajectory of Malaysia’s digital economy between 2021 until 2030. Consisting of
three phases and six key thrusts
, it lays out the various initiatives that required for the development.

(Source:
The Star
)

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Alex Cheong Pui Yin

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Is 2018 The Year of the Dog(e)?

Much wow, such amaze. With 2018 being the year of the Dog, it is only fair for us to feature this bizarrely popular cryptocurrency that has recently made it in the news for hitting a whopping USD$ 2 billion market cap. Not bad, considering that Dogecoin is started as a currency that’s meant to poke fun at the rise of investors favoring digital assets utilising cryptography for security.

As you may wonder how did Dogecoin succeed in penetrating the tough and bullish cryptocurrency trading market, perhaps it would be best to look at how did it all started in the first place and what brought it to its current status today.

What is Dogecoin?

 Image courtesy of Dogecoin.com

Dogecoin (DOGE, Ð) was co-founded by Jackson Palmer, a group product manager who works at Adobe and Billy Markus, an IBM software programmer. Markus modified an existing litecoin wallet to pay homage to a famous, existing Internet meme known as Doge, a dog of shiba-inu breed with a curious expression juxtaposed with a collection of miscellaneous, Comic-Sans-tinged text in the background.

Introduced on December 6, 2013, Dogecoin’s objective is to reach a broader demographic while distancing away from the controversial history of another form of cryptocurrency, especially
 bitcoin.

How Did Dogecoin Perform in the Cryptocurrency Market?

Believe it or not, it only took Dogecoin 72 hours to increase its value by nearly 300 percent. Originally priced at US$0.00026, it rose to $0.00095 with many Dogecoins mined per day. Having said that, 3 days after its value surged, Dogecoin experienced its first major crash by dropping up to 80% in value due to the exploitation of large mining pools requiring minimal computing power to mine the much sought-after coin. This crucial flaw has since then been addressed and miners are now prevented from over-mining the Dogecoins.

Fast-forward to 2018, the dogecoin’s market cap soared to more than $2 billion, surpassing ethereum, an open software platform based on blockchain technology which enables developers to build and deploy decentralised applications. As a result, Dogecoin rose up the ranks to become the second-largest cryptocurrency by market cap and the rest was then, history (and potential financial destruction) in the making.

As creator Jackson Palmer quips

“I have a lot of faith in the dogecoin core development team to keep the software stable and and secure, but I think it says a lot about the state of the cryptocurrency space in general that a currency with a dog on it which hasn’t released a software update in over 2 years has a $1B+ market cap.”

What Do I Need to Prepare for Dogecoin Mining?

 Image courtesy of Zipso.net

As the supply of Dogecoins will remain uncapped, your concern now will be as to what are the things that you will need to do should you harbour an interest in mining cryptocurrency. Among the essentials that would help you get started with mining would be a powerful PC and cheap electricity so if you are staying in a country where the pricing and tariffs are low, consider half the battle won.

These days, cryptocurrency mining is now performed with specialised ASIC (application-specific integrated circuit) devices that you attach to your computer. The pros of using these ASIC devices is that it has been optimised to perform the calculations required by the bitcoin protocol so it is so far the best in terms of speed and efficiency.

Read Also :
 A Brief History of Money: From Barters to Bitcoin

Do note that this equipment will perform best if it’s situated in a thermally-regulated place so if you can’t afford to let these devices work in an air-conditioned space, cooling fans are then something that you would need to look into.

What Are The Other Cool Stuff About Dogecoin That I Should Know?

Did you know that there is an active Dogecoin community that is heavily involved in charity donations? Among the charity’s that have been supported by the Dogecoin community include Doge 4 Kids and Doge 4 Water. Apart from that, Dogecoin also organised a donation drive to send the Jamaican bobsled team to the Winter Olympic.

Hence, if you are interested in Dogecoin mining, rest assured that there is a strong presence of civic-mindedness among the community members so chances are you won’t need to worry about getting ripped off (although such incidences do happen so if a proposition sounds too good to be true, it is best to tread it with extra care and wariness).

Should I Invest In Dogecoin?

Whether you should take a chance in including it in your investment portfolio or forgoing it in favour of more secure, established digital assets, it is all up to your personal preferences. The qualities of Dogecoin is the same as any other Bitcoin, in which at the time of writing, it is vulnerable to widespread speculation and instability. As such, if you are seeking for stability when you make an investment, it is perhaps best to stick to safer, regulated financial instruments with guaranteed returns.

Pre-determined profit sharing is one of the qualities that make fixed deposit accounts irresistible and succinct to say, an FD earns you interest at an agreed rate based on the sum of money deposited.

Don’t have a fixed deposit account yet? We can fix that; just head on here and use our <a href=”
https://ringgitplus.com/en/fixed-deposit/”target=”_blank”>
 comparison tool

to discover the original underdog when it comes to financial investments. Happy hunting!

Are there any other cryptocurrencies that you would like to add on to our list? Let us know in the comment section below!

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PM Allows Withdrawal Of Up To RM500 A Month From EPF To Ease Cash Flow Problems

Prime Minister Tan Sri Muhyiddin Yassin has announced that Malaysians can soon withdraw up to RM500 a month from their EPF Akaun 2 to ease cash flow problems during the Covid-19 outbreak.

In a televised announcement, the Prime Minister stated that from 1 April 2020, EPF members below age 55 can make withdrawals from their EPF Akaun 2 of up to RM500 per month for 12 months.

This, combined with the
lower contribution rate of 7% announced as part of the Economic Stimulus Package
, Malaysians will have more money in their pockets that can be used to purchase daily necessities as well as to pay bills.

The Prime Minister also stressed that even though this money is meant for retirement, the Government is offering this option to withdraw as there will be Malaysians who will need it in this trying time.

This initiative is expected to be available for up to 12 million EPF members who are below 55 years of age, and the Government has estimated a total withdrawal of RM40 billion.

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Maybank Estimates Modification Loss At RM1 Billion From Hire Purchase Moratorium

(Image: The Star)

Maybank has estimated that it has incurred approximately RM1 billion worth of day-one modification loss from the six-month moratorium of hire purchase loans, which will be reflected in the second quarter ending on 30 June 2020.

A one-day modification loss can be defined as a one-off cost incurred when a bank opts for a particular alternative, compared to what they could have earned if they chose another method.

Prior to this, Maybank – through its investment arm – had already noted that the
modification loss for the banking industry
 as a whole will amount to about RM4.4 billion. This is attributed mainly to the fact that banks are unable to collect additional interest on hire purchase installments during the moratorium period.

(Image: The Edge Markets)

Maybank also announced last week that it will not be extending the ongoing moratorium past its deadline. The aid, which began in April, is slated to end by September. However, Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said that the government will reach out to banks about the possibility of
extending it in a targeted manner
.

The president and chief executive officer of Maybank, Datuk Abdul Farid Alias, further stated that the bank will also do their best to mitigate the potential financial impact from other banking customer segments. He said that at present, more than 70% of Maybank’s loan book is under some form of financial relief aid, including the automatic moratorium or rescheduling and restructuring programmes.

(Image: The Star)

“For the SME segment, around 88% of our SME outstanding loans are under the six-month moratorium,” said Datuk Farid. He also clarified that Maybank has approved up to RM2.1 billion of BNM’s Special Relief Fund (SRF) aimed at alleviating short-term cash flow problems faced by SMEs. This amounted to a 77% approval rate from the applications that it received.

Meanwhile, the total financing for SMEs (including those under the SRF) up until May stands at RM4.9 billion, scoring an 85% approval rate.

Aside from the SRF and moratorium, Maybank has also extended other financial aid to its various customer segments to help them in this challenging economic climate. These include
credit card repayment programmes
,
insurance premium payment deferrals
, and fee waivers for selected services, such as for
interbank ATM withdrawals
.

(Source:
The Edge Markets
)

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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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Should You Have More Than One Credit Card?

Regularly swiping on your credit card and paying your bills on time is an easy way to develop good credit, collect rewards and enjoy multiple promotions and deals. But is it a smart thing to have more than one credit card in your wallet?

To help figure this out, let’s first take a look at the advantages of having two or more credit cards:

Pros

You Can Boost Your Credit Score

The more credit cards you have, the more diverse your credit report will appear. Pat yourself on the back if you never make late payments for all of the bills and rest assured that your credit score is probably in your favour when you need to take up a loan.

Multiple cards contribute tremendously in your credit history, but don’t let them harm your financial well-being because of unsettled debts or high credit utilization (meaning you tend to reach your credit limits often).

Have Different Cards For Different Needs

A credit card that is used for grocery shopping may not be ideal for big purchases such as electronic gadgets. Simply because you will not get to enjoy the bank’s cashback offer as your card is usually featured with benefits for a specific spending category. Furthermore, you wouldn’t want to use up your credit before the month ends on a single item, or worse is not having enough cash advance for emergency situations.

Having two to three credit cards for different spending purposes can in fact be a healthy financial plan. For example, you can assign one card for everyday use (petrol, food, grocery) and another one for major expenditures (medical bill, insurance, holidays).

If you own a basic credit card, your second one can be something that offers extra benefits based on your lifestyle and spending habits. That way, not only will you get to prioritise your finances more effectively, you will also enjoy greater deals just by simply enjoying your life!

Of course, having more than one credit card isn’t all fun and merriment. There are some important caveats to note when you’re juggling multiple cards at once.

Cons

Multiple Credit Card Applications Count as Hard Inquiries

It is not recommended to apply for many cards at once. The reason is the moment all of your lenders pull out your credit score, they will be recorded as hard inquiries.

To put it simply, it means that the creditor perceives a large number of credit score viewing as a sign of credit risk, which of course will negatively affect your report.

Trickier to Manage

To those who don’t have a solid monthly financial plan, owning several credit cards can be cumbersome. This is simply because you are exposed to higher chance of missing your payment for a specific account and end up drowning in debt (that you are possibly not even sure where they came from).

Furthermore, the flexibility of swiping for big purchases, not just with one but multiple cards, might negatively affect your spending habits. It can be hard to resist your inner shopaholic knowing that you can have the items without having to pay first.

So How Many Credit Cards Should You Have?

It is true that maintaining a good credit report really boils down to consistent on-time

payments and healthy purchasing limit. Although a single credit card may be all you need to achieve good financial health, there is no exact ideal number of credit cards that one should own especially when taking into account personal spending habits.

It is worth considering multiple credit cards as they can help you to improve your credit score and net you awesome promotions and rewards. Head over to our
credit card comparison
 page to discover the extra perks await you with a new credit card!

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Bursa Malaysia Sees Stock Sell-Off In Morning Session Following GE15’s Election Result

(Image: Bernama)

Local stock exchange Bursa Malaysia saw investors offloading shares in its early morning trade session today, attributed to market uncertainties following the unexpected result of its 15
th
 general election (GE15).

The early morning sell-off saw the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fall 1.5% to a session low of 1,4277.75, from its closing 1,449.32 last Thursday (17 November 2022). It subsequently staged a small recovery, climbing back up to 1,442.30 as of the time of writing.

(Image: Market Watch)

Heading the list of top losers this morning were several entities from the gaming and brewery sectors – typically dubbed the “sin sectors” – with decline of between 4.9% to 9.4%. Under the brewery sector, Heineken Malaysia Bhd saw its stocks fall by 5.2% (RM1.32) to RM23.46, whereas Carlsberg Brewery Malaysia Bhd declined by 4.9% (RM1.14) to RM22.06.

As for gaming stocks, lottery operator Magnum Bhd dropped by 9.4% (14 sen) to a five-year low of RM1.35, while Sports Toto Bhd plunged by 8.57% (15 sen) to RM1.60. Casino operator Genting Malaysia Bhd also sunk by 19 sen to a two-year low of RM2.53, as its parent company Genting Bhd slid 6% (29 sen) to RM4.21.

Investors’ nerves are rattled as Malaysia faces its first-ever hung Parliament after GE15, a situation where no political party has enough seats to secure a simple majority to form the next government independently. As such, politicians are now scrambling to form coalitions to gain the upper hand, and investors are nervous about the prospects of various economic sectors – such as sin sectors – under different coalitions.

(Image: Malay Mail/Mukhriz Hazim)

“Gaming and brewery stocks can face heavy selling pressure, while foreign selling of blue chips exerts more downside pressure on the FBM KLCI this week if investors perceive that a non-centrist government has taken charge,” said TA Securities Sdn Bhd.

The research house also noted that although all coalitions’ manifestos currently do not contain restrictions on the gaming and brewery sectors, regulatory limitations may be imposed in the future. Breweries, for instance, may see a cap on beer sales, or curbs on entertainment outlets. Casinos and betting operators, too, may have their licences suspended or terminated.

(Image: The Star)

Meanwhile, the head of regional equity research at RHB Bank, Alexander Chia predicted that investors’ sentiment will likely “remain clouded” for this week. He also said that the situation will evolve “depending on the duration of the power vacuum, the quality of the Cabinet members, and the parliamentary majority of the eventual government that will determine its ability to institute reform.”

Aside from the stock market, Malaysia’s currency also slipped against the greenback by almost 0.8% this morning, to 4.5872. It gradually recovered after to trade at 4.5585, but economists have commented that the current circumstance will
take a significant toll on the country’s economy and currency value
 if not resolved soon.

(Sources: The Edge Markets [
1
,
2
],
The Straits Times
)

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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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Axiata Bids For Malaysian Digital Banking Licence, In Talks With 11 Potential Partners

(Image: Bloomberg)

Axiata Group Bhd has announced that it will be making a bid for a digital banking licence in Malaysia. The company, which owns both Celcom and Boost, is currently engaging with up to 11 parties for the effort, including banks and other players operating within the virtual banking sector.

“We have provided our comments, and have been engaging with Bank Negara Malaysia. Hopefully, we can form the partnership that’s needed and make the submission in June,” said the deputy group chief executive of Axiata Group, Datuk Mohd Izzaddin Idris. He further added that the group is likely to establish the virtual bank by the second half of 2021 if all goes well.

Idris also commented that Axiata will select its partner based on what each party can bring to the table, with the company’s own forte being in e-wallet, micro-lending, and algorithmic lending. For instance, it makes a lot of sense to partner with banks even though it is not a requirement to do so, because of their familiarity with industry risks and the compliance framework, said Idris.

Axiata Group owns the Boost e-wallet, which ranks as one of the top three e-wallet service providers in the country with more than 4 million users. Boost is also involved in the government’s ongoing
e-Tunai Rakyat initiative
.

Axiata Group has also dabbled in shariah-compliant micro lending via its subsidiary, Axiata Digital Capital. As of today, it has provided RM45 million worth of loans, with non-performing loans standing at 1%.

(Image: The Star)

Prior to this,
Axiata has expressed an early interest
 in bidding for one of the
five digital banking licences
 that Bank Negara intends to issue in 2020. The central bank announced this at the end of last year, alongside the issuance of the exposure draft for the digital banking licencing framework.

(Source:
The Edge Markets
)

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Apple Pay Shows Up On Shopee As Payment Option

(Image: Lowyat.NET)

The likelihood of Apple Pay being finally launched in Malaysia is now higher than ever, especially following recent reports that this highly sought-after payment method has been spotted as a payment option on e-commerce platform Shopee.

In a report, local tech site Lowyat.NET stated that Shopee users were able to see Apple Pay as a payment option when they access the e-commerce platform on the Safari browser or the Shopee app on their iPhones, but it is – unfortunately – not activated yet. Instead, those who tap on the option will encounter a pop-up that tells them to make sure that there is an active card in their Apple Pay wallet beforehand.

(Image: CH3COOH/Lowyat Forum)

Of course, given that this step is not currently possible, Malaysians will have to wait for further updates. But this latest development is certainly fanning Apple users’ optimism that Apple Pay will make its way here fairly soon, especially since there has also been a
previous hint that Apple and a local bank are currently testing its functionality
.

Prior to this, an AmBank cardholder had received an SMS from the bank informing him that his card can be used for Apple Pay. It even contained a URL for Apple Pay on the bank’s website, although it ultimately led to a blank page.

For now, though, Apple Malaysia, Shopee, and AmBank have all remained mum on the matter. While this latest appearance of Apple Pay is certainly an exciting development – especially given how sought after this feature is by Apple users in Malaysia – you may want to hold on to your horses until there are actual announcements. We’ll also continue to keep an eye out for further updates to share!

(Source:
Lowyat.NET
)

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UOB Launches Digital Bank Named TMRW, Targets Millennials

(Source: Mashable
)

UOB has launched its first mobile-only bank in Thailand – and has plans to expand to other markets across the region. The mobile-only bank is called TMRW (pronounced “tomorrow”) and targets young, digitally-advanced millennials.

As a digital bank, UOB TMRW allows users to do their banking digitally through a mobile app, and is marketed as an alternative to traditional branch-based banking. UOB designed TMRW for millennials who possess a different approach to their banking habits, who have a different set of fundamental expectations in digital services such as preferring simplicity and an engaging user experience.

In addition, UOB TMRW has a distinctive gaming feature in its approach to money management, where customers build a virtual city that gets bigger as their savings increase. According to UOB, the game quickly became one of its customers’ favourite features because it helped them meet their savings goal whilst being fun and engaging.

Other useful features built into TMRW include transaction insights and travel summaries of users spending. It also gives out alert for unusual transactions or increased spending, while an AI-powered technology subtly tweaks the UI to surface frequently-used services. There is also a chatbot that mimics popular messaging apps and a call function to reach support staff with the ability to recall conversation history. Lastly, TMRW’s app eliminates the use of banking jargon for a simpler and more engaging experience – the result of an ethnographic research on millennials conducted by UOB before it launched TMRW.

(Source: Business Insider)

The Head of Group Retail Digital, Dr Dennis Khoo, said that the bank partnered with two fintech firms, and learned from market leaders as well as millennial brands to explore the latest technological and behavioural insights to deepen customer engagement. Dr Khoo added that the group is looking to collaborate with more fintech to create a more engaging user-experience.

Before its official launch, UOB already conducted a pilot programme involving 1,500 customers in Thailand. Now that it is launched, UOB will be setting up 350 TMRW kiosks for complete self-service registration and soon it is planning to use biometric system for more ease of use. Despite its focus on millennials, there will be no age restrictions to use the service. Moving forward, TMRW is looking to expand to other countries across the region including Indonesia, Singapore, Malaysia and Vietnam by the end of this year.

(Source:
Business Insider
)

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Finance Minister: Rejected BPR Applicants Can Submit Appeals Between 15 To 30 June

(Image: HMetro)

Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said that individuals who applied for the Bantuan Prihatin Rakyat (BPR) aid but were rejected can now submit their appeals between 15 to 30 June 2021.

According to the minister, applicants who wish to submit an appeal will need to provide relevant documents to the Inland Revenue Board (LHDN). The documents required will vary depending on the rejection code of each applicant’s initial BPR application.

Tengku Zafrul also stated that applicants can either submit their appeals online via the BPR website, or by delivering the BPR 2021 appeal form to the nearest LHDN branch, Revenue Service Centre (PKH), or Urban Transformation Centre. Those opting for the latter method are reminded to set an appointment with the offices in advance before heading over.

(Image: Malay Mail)

“Once the BPR database is updated, payments will be channelled to applicants in August (for additional BPR) and September (BPR Phase 3),” the minister further said, adding that this appeal process is intended to ensure that the assistance reaches those who are truly in need.

The BPR aid – which was
 introduced during Budget 2021
 as a replacement for Bantuan Sara Hidup (BSH) – is intended as an assistance package for lower-income B40 households. It carries a more specific set of eligibility criteria, with hopes that it will be more efficient in reaching the people.

Tengku Zafrul further said that the government has paid out RM4.6 billion to a total of 8.4 million BPR recipients from the B40 segment in February, March, and May 2021. During the reveal of the latest PEMERKASA+ stimulus package, the government had also injected an
additional RM2.1 billion into the BPR aid
 to continue helping existing recipients.

Head on over to the
official BPR website
 to find out more about the aid. Alternatively, you can check out the
FAQ for the BPR 2021 appeal here
.

(Source:
The Star
)

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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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Maybank Offers RM8 Reward For First-Time MAE App Users

Maybank customers who have yet to try the new MAE by Maybank2u (MAE) app can now earn themselves some cash when they do so by 31 January! The MAE RM8 Cash campaign will offer an RM8 reward to those who log in to their accounts on the MAE app for the first time – those who are planning to apply for the MAE debit card from the app can look at it as a way to offset the card’s RM8 annual fee.

To participate in this campaign, you need to be a Maybank or Maybank Islamic savings or current accountholder (sole proprietor); customers with Maybank2u Biz Accounts are not eligible. On top of that, you must also be a first-time user of the MAE app and have not linked your Maybank2u account to the app prior to the campaign period.

If you meet the eligibility criteria, then go ahead and join Maybank’s campaign by downloading the MAE app, and then logging in to your MAE account for the first time before 31 January! For those of you who already have a Maybank2u account, you can log in to your MAE account using your Maybank2u login ID credentials. Otherwise, you will need to sign up and create a new MAE account before logging in.

Once you’re done, you’ll be rewarded with RM8, to be credited into your active MAE account within 21 working days after the end of the campaign period. You’ll receive a notification either through the MAE app or an SMS when the money has been credited. Note as well that this reward is provided on a first-come first-served basis, capped at 230,000 customers for the whole campaign.

Maybank launched the MAE app in October last year, with plans to have it eventually
replace the existing Maybank2u app
. Since then, the bank has been encouraging its customers to switch over to the new app.

Essentially, the
MAE app
 still offers all your existing Maybank2u functions in addition to various other new functions to offer better financial management. These include features such as Expenses, which helps you to track your spending, and Tabung, which enables you to save more consistently with a goal-oriented savings strategy. The app also has its very own
MAE debit card
, which is tied to Maybank’s MAE e-wallet residing in the MAE app, giving you an extra payment option at merchant outlets in addition to the QR scan method.

You can find out more about Maybank’s
MAE RM8 Cash campaign
 on its website. Alternatively, you can download the MAE app on
Google Play
 or the
App Store
.

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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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"Why I Didn't Buy You a Christmas Gift This Year..."

It’s the 24th of December. If you haven’t bought gifts for loved ones yet; there’s a good chance you probably won’t get to it. But if you’ve missed gift giving this year; you’re not alone. Many holidaymakers are forgoing the tradition and here are the top reasons why.

“I just can’t afford it,”

High prices; low salaries and increased expectations make it harder for families to be able to afford gifts for the whole family and buying only for particular family members will not go down well.

For this reason; some families have opted to go completely ‘present free’. “My husband and I can’t afford the extended gift-giving,” Maria Margaret, 37, tells us. “Instead, we’ve promised our two children, one 6 years old and one 10, that we would increase their allowance in 2015. This made them happy and the increase is minimal enough on a spaced out monthly period not to affect us too much.”

“It’s taken the true meaning out of Christmas,”

Many Christians are starting to lament the failure of the younger generation to value the true meaning behind Christmas because they are so caught up in the commercialism advertised by the media.

“We knew we had to do something drastic when our children couldn’t tell us the nativity story but insisted they wanted iPads for Christmas!” lamented, Nancy Chin, 43. “We had a chat with the three of them and came to the conclusion that there will be no presents this year but we would do family outings, activities and special meals. We hope to spend time with them and remind them what the festivities are truly about.”

“I made logistical mistakes,”

Christmas is the busiest time of year for many stores; online and offline. What this means is that if you’ve special ordered something; you need to expect a much longer waiting time than usual. But not everyone expects the holiday gridlock (although they should!).

Jon West is in a quandary. “I am working in Malaysia and am unable to take long enough leave to head home for the holidays so I ordered a couple of things from
Amazon
 to have them shipped to my wife and kids back home. Problem is; I forgot that the year end rush delays things. I ordered way too late and by the looks of it my kids may only get their gifts in January!

But you don’t have to be living miles away from your kin to make logistical mistakes. George Yong had similar problems. “I special ordered some personalised items from a printing company. The items arrived just yesterday but they were not at all like I imagined. I realised, upon checking the invoice that I had not read the fine print and made some selection errors. I can’t give my family these gifts and I am out of pocket for quite a hefty sum. We’re so close to the day; I may tell them to take a rain check!”

“I am horrible at choosing gifts…”

It may seem like a strange reason not to give presents; but some people feel they are so genuinely bad at choosing gifts that they end up spending money on items the recipient never uses.

“For three years running, I’ve seen that pasted smile on almost all my recipients when they open my gift. I’ve then not seen them use nor display the item again. Because people are polite and you know; gift-giving is about the thought; no one says anything but I bet they wonder what I was thinking!” shared Jennifer, 28. “So this year, I decided to give everyone an
ang pow
. Money helps everyone and it’s way better than a trinket they’ll never use.”

The same holds true for Colin, 26. “I spend a really long time choosing one gift that I end up over-thinking and choose the wrong item anyway. Towards the end, I realise that I have no time and the remaining people get even worse gifts because I am in a hurry! So no gifts this year but I’ve told my family I’ll chip in for the dinners and feasting. I told my friends, I’ll buy them dinner or lunch sometime.”

“And that’s why I didn’t buy you a Christmas gift…”

Buying Christmas gifts are much more stressful even for shoppers who enjoy the activity so imagine the agony on those who don’t. Whilst it is nice to be remembered by a token present during the season; it is not the be-all-end-all of Christmas.

If you’ve opted (or been forced to) forgo gift-giving, hopefully these stories remind you that there’s still hope for a merry holiday beyond the wrapped boxes under the tree.

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Diana Chai

Diana Chai

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Shopee Releases Its Own E-Wallet, ShopeePay

Shopee Malaysia has announced
ShopeePay
, its own e-wallet for use on its e-commerce platform. Formerly known as Shopee Wallet, its features have been expanded – though ShopeePay can only be used within Shopee.

ShopeePay is primarily designed as a means to enable instant payment for any purchase on Shopee. Powered by AirPay, a non-bank regulatee of Bank Negara Malaysia, ShopeePay’s current features are only limited to topping up and withdrawal of funds.

Like other e-wallets, ShopeePay allows users to top up funds for use at any time via a huge number of online banking portals – no credit or debit card options here. In addition, cancelled orders and refunds will go to the user’s ShopeePay wallet, where they can be withdrawn into their chosen bank accounts (Premium wallet only). Shopee says that more features will be introduced on ShopeePay in the future.

Like Lazada’s own e-wallet (Lazada Wallet) which has been in the market for some time, ShopeePay eliminates common payment inconveniences with online shopping including bank/credit card downtime, logging in to a bank’s online banking portal, and waiting for the one-time passwords (OTP).

While ShopeePay is now live in the Shopee app, users must activate it first by entering their full name and IC number (a requirement by Bank Negara Malaysia) to enable the Basic wallet, which can store up to RM500. To upgrade to a Premium wallet that can store up to RM1,500, users must complete the e-KYC process (mandatory by Bank Negara) by snapping a photo of their IC as well as a selfie and upload them on the app. Upgrading to a Premium wallet also unlocks the ability to withdraw funds to the user’s bank account.

According to Shopee
, ShopeePay will only be available as a payment option for orders that do not exceed the funds currently in the wallet.

ShopeePay’s introduction certainly makes sense, considering how e-commerce platforms such as Shopee and Lazada have introduced midnight sales campaigns that offer additional discounts and coupons from 12-2am to kickstart a sales event. With some banks usually having maintenance hours during that time, pre-loading their wallets with funds allows shoppers to take full advantage without worrying about bank or card maintenance hours.

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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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    asrul

    3 years ago

The stupid things is, when you cancel your order (due to want to modified your orders) and get refund, it will refund back to your shopee pay. When you want to buy again with your shopee pay (because you get refund), the shopee won’t allow rm1k and above. Your money stuck there. THAT IS STUPID!

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    Qimi Mal

    3 years ago

IC number for what?..

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Affin Bank Offers Cardholders 5x Rewards Points For E-Wallet Reloads And Online Purchases

Starting from now until 30 September 2020, Affin Bank is offering 5x Rewards Points on selected e-wallet reloads and online purchases. The Affin Card-on-File campaign lets Affin credit cardholders earn 5x Rewards Points for every RM1 spent on e-wallet reloads and e-commerce transactions of RM50 and above.

To qualify, you will need to have a valid Affin credit card and a credit card account that is in good standing. However, those holding the Mastercard Basic, Visa Basic, and Visa Business Platinum will not be eligible for the promotion.

The campaign is applicable only for e-wallet reloads and purchases from the following parties:

E-wallet operators
: BigPay, Boost, Fave, GrabPay, Setel, Touch ‘n Go eWallet

E-commerce merchants
:

Food: dahmakan, foodpanda, McDelivery, Domino’s (online), KFC (online), Pizza Hut (online)

Groceries: Happy Fresh, Jaya Grocer (online), Tesco (online)

Others: Hermo, Lazada, Shopee, Zalora

Eligible transactions by supplementary cardmembers will also qualify for the campaign, but they will be treated as part of the eligible principal cardholder’s transactions. All Rewards Points that you’ve earned through this promotion will be automatically credited to your account within 8 weeks from the transaction date.

In total, Affin Bank has allocated 25 million Rewards Points for the whole campaign, and they will be awarded to eligible cardholders on a first-come-first-served basis.

For reference, a RM50 Aeon voucher can be redeemed for 30,650 Rewards Points, while 1,000 Enrich Miles can be redeemed for 12,000 Rewards Points.

For more information about
Affin Bank’s Card-on-File campaign
, head on over to its website. You can also check out the
credit cards from Affin 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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8 Must-Haves for Every Business Traveler

If you are familiar with business travels, chances are you have a love/ hate relationship with it.

You get to travel overseas at your company’s expense and avoid your office for once. However, these exciting moments also come with worries and frustrations like delayed flights, packing dilemmas, long travel hours, currency exchange etc.

While these worries can be intimidating, there are ways to address them with a couple of business travel hacks. In this article, we will be listing down some of the must-have items for business travellers. With that, let us start packing.

Wrinkle Releaser

Image coutersy of Amazon

Let’s face it, we all have problems when it comes to packing our business wears and leisure clothing. One of these problems is the possibility of having wrinkles/ creases on your attire caused by packing your suitcase.

These wrinkles could cause you a business deal or business relations if you do not address them. One way to avoid the hassle of buying new clothes is to get a
wrinkle release spray
. As the name suggests, wrinkle release spray reduces the number of wrinkles in an attire without the need to iron.

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

This spray fits perfectly for business travellers who want to avoid a trip to a laundry bar or calling for room service, thus saving more money for your trip. Here is a list of
wrinkle release spray
 you can get.

Universal Adapter with USB Ports

By now, you know why this item is on many lists of travel hacks. A universal adapter with USB port is even more crucial during a business trip, especially with the number of electronic devices you need for the trip.

As such, you would like to reduce the number of device chargers to avoid packing issues. A
universal adapter
 with USB ports not only help in accessing different pluck points but also reduces the need to carry multiple chargers for each device with the presence of USB ports.

Power bank

Speaking of chargers, it is also worth noting that not every place has a charging station like a train or a plane. In fact, one of the worse things that could happen on a business trip is the sudden shutdown when your device run out of power in the midst of a business conversation.

In this regard, a power bank is a must-have for any traveller. Given how the mobile device become ever more integrated into many parts of our lives (especially with banking apps and mobile wallet), the need for a power bank becomes even more prevalent. Besides that, there are many power banks that are suitable for travel.

However, the need for a power bank also poses the same need to charge it for storage. As such, the previous point on the universal adapter with USB ports is an excellent complement.

Travel credit card

Let us acknowledge this fact: changing currencies can be a very tedious thing to do. Most of us would want to buy foreign currencies when they are low, which means either an immediate sprint to the money changer or a long wait.

Besides that, you may not be very comfortable with carrying these much foreign currencies with you for many reasons like safety. So, why not reduce the number of foreign currencies in your wallet with a travel credit card? There are many benefits that a travel credit card provides, including reversible charges and travel reward.

You can read more about the benefit of a travel credit card
here
.

Documents Organiser

You might be thinking, “Wait, isn’t everyone going digital now?” when you reach this part. It is true that a growing number of people have gone digital when it comes to documentation, especially flight tickets and boarding pass.

However, there are still some people and some organisations who rely on hard copies. As such, the amount of paperwork needed can cause a mess. A document organiser will be your companion in sorting out your documents (i.e. Business cards, flight tickets, boarding passes, hotel reservation, travel insurance policy etc.).

Travel-size toiletries

This
 is for the cheapskates among all of us. Sure, hotels do provide toiletries for every hotel guests. However, not every hotel would replenish toiletries or count them as part of the whole package. In fact, some hotels even charge guests for using these toiletries or bring them home.

Due to these conditions, it is in your best interest to bring some travel-size toiletries for your travel. However, you need to be aware of the rules regarding the amount of liquid permissible for travel.

Luggage Tracker

Image courtesy of Amazon

With so much being said about what to pack for a business trip, we need to talk about the security of your luggage. There is always the possibility of your luggage being misplaced or stolen. We are not here to scare you and tell you not to travel around the world.

That said, it is not enough to just lean purely on your travel insurance. A luggage tracker would be an excellent tool for you to keep track of your luggage should any issue arise, especially if you have business documents and devices in your luggage.

Concur

Image courtesy of Google Play

Our last entry on this list of must-haves is not an item, but a mobile
app
. One of the common mistakes that travellers commit is not keeping track of their spending. Although keeping track of spending may not be a pleasant thing to do, it is important to avoid incurring more debts

That said, your task in keeping track of your spending will become easier with the use of Concur. Concur is a multi-function mobile app that keeps track of your expenses by collecting receipts and invoices, which will be useful for allowance claims from your company.

Have Fun

Here is the list of must-have items for business travel. With all that said, we encourage you to make full use of your business travel to have fun.

Looking for a travel credit card and a travel insurance? Use
our comparison tool
 to find one that suits you. Do check out
Agoda
 to search for the best accommodation deals. Have anything to add to this article? Share your thoughts and ideas in the comments section down below! Also, don’t forget to find out more about our
Travel Getaway Campaign
 to plan your next business trip

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Brian Chung

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TNG Set To Launch Upgraded Card With NFC Capabilities In Next Few Weeks

The chief executive officer of TNG Digital, Ignatius Ong has said that Touch ‘n Go (TNG) will be launching a new version of its card in the next few weeks. This updated TNG card will offer the ability to tap into near-field communication (NFC) technology, allowing users to top up their card balance using a NFC-enabled port via the TNG eWallet app.

“The Touch ‘n Go card that we have in circulation for the last 20 years does not have the capability to directly top up from the eWallet because you need a specific card reader to actually do the transactions for security reasons,” Ong explained during a panel discussion at the MyFintech Week 2022 event.

Aside from that, Ong did not share any other details about these upcoming NFC-enabled cards, such as the price and locations to obtain them. To note, TNG Digital had actually revealed its plan for this new version of the TNG card much earlier back in February 2021, with the intention to
roll it out by the end of 2021
.

(Image: Piston.my)

With this latest update, TNG users can look forward to a more convenient experience when reloading their physical TNG cards; it is currently not possible for you to directly top up the credit of your physical TNG card via your TNG eWallet. Instead, you need visit a participating store or dedicated TNG kiosk at selected locations to perform the top-up – which can be a bit of a hassle.

Of course, there is the PayDirect feature that lets you link your TNG cards to the eWallet, allowing you to use the eWallet as a payment source instead of deducting money from the card balance. However, this is only applicable for
parking
 and
toll payments
.

TNG had also previously made an unsuccessful attempt to roll out a card reload feature via the TNG eWallet app back in 2018. The process required users to first perform the reload on the eWallet, and then bring their cards to a dedicated terminal to “transfer” the credit to the physical card. Vastly unpopular with the public, this feature was eventually removed.

(Source:
The Edge Markets
)

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Alex Cheong Pui Yin

Alex Cheong Pui Yin

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

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Could You Make More From Your Side Income Than Your Regular Paycheque?

Companies are cutting back on staff and salary, which means the average individual, could be doing more work for the same amount of pay (#2kerja1gaji).

Cost of living has been skyrocketing and people are starting to find themselves in a situations where they need to supplement their main source of income.

Could it work for you too? We found real life stories of people who attempted a side income and made it work. They even make more money from their side income than their regular paycheque!

Teaching a Future Generation

Amira* is an air-stewardess at a renowned airline but her love for all things designer meant her paycheque just wasn’t enough. She wanted to enjoy a better quality of life and the finer things money could buy so she figured the way to do it was to get a second job.

She started teaching tuition. She gives private sessions to primary and secondary school children, preferably out of international schools or private schools. Teaching private tuition meant she was able to charge higher rates as compared to working in a center. She found that with results, she was being referred to more and more clients.

She started earning an additional RM3,000 to RM4,000 a month, by giving up some free time on weekdays and Saturdays.

Bear in mind that she cleverly picked a market segment of private school and international students, where the parents could afford the higher fees. She claims as long you are good in a subject like mathematics and have a decent level of English, you could teach tuition.

Despite the good income, Amira decided not to go into tuition fulltime. “At the airlines, I have a steady paycheque. I won’t have this with tuition as some students may stop classes or school may close making my income seasonal. I love having both as it gives me the stability of a fixed paycheque and the added income of a part-time job.”

The Start-up Founder

Soh Shangrong, co-founder of Freschart, formed his start-up while he was still working in a debt restructuring company. He gave up the comfort of snoozing in on weekends to start work on a fruit business. Over time, his supplementary income started to substantiate and he decided it was time for him to give it a proper attempt and resigned from his job.

He started this secondary income for a completely different reason; “I started Freshcart simply as a way to build a better relationship with my father. It was a way we could bond over the work. But I soon realised that I wanted to work for myself; paving my own path rather than someone else’s.”

No doubt, it was not an easy task to undertake but after some time he started to earn a decent side income. It was then, where he decided to move on and concentrate on his own business full-time.

Part Time Coder

Rinesh* works his days as an IT lecturer in a Malaysian University while he fills his nights with a side project or two. Being a senior lecturer, he possesses some nifty programming skills that allows him to code during his free time.

He is no
Tony Stark
 (yet), but he makes a handsome amount on each project. He confessed during a lecture that he was able to derive approximately RM3,000 on each project he embarks on. “Some projects I only need a day or two, some take me up to a week. Not bad to have an additional RM3,000 a week, right?” said the cheeky computer genius.

Many of the wide-eyed curious students in the class room, could not help but to ask him why he didn’t turn it into a full time business instead. To which he responded with a smile, “Why would I give up either one when I can earn money from both sources?”.

Is It For You?

It is difficult to justify which is the best way to earn yourself a side income as each individual has their own unique set of skills and talents. It may not be a viable option to everyone but bear in mind that it always is a possibility. Entrepreneurs are created every day, the difference is they dared to try while most people only dared to dream.

There are many reasons and ways for us to supplement our daily income. Many people make excuses on why they can’t do this or can’t do that. The three people featured in this article have many competitors among their respective industries. The difference is that they went out and did it anyway.

If you’re thinking about taking the same route; here are some tips to get started.

1) When coming up with a side income idea,
consider your strengths and talents as well as market demand
. The two work hand-in-hand. You may be great at say, potato-sack racing but where’s the opportunity in that? Likewise, there may be huge demand for cupcakes but you won’t really be getting anywhere if your cooking skills leave your products inedible!

2)
Try it part-time
 before going the whole nine yards. This is to make sure you don’t quit your job too soon before you have a workable means of earning an income.

3)
Have a healthy amount of savings
 before going into your own business head-on. For most people simply wanting to quit and find another job, 6 months worth of savings is enough but you’ll probably need a whole lot more if you want to start your own business. Earnings may be seasonal and volatile so you need to be ready for the lean months.

Whether you decide to turn your side income into a full blown career or not; having two sources of money is not a bad idea. Do you have any ideas or stories about how to make more money on the side? Let us know in the comments!

*Names changed at request of contributor to protect their real identity and privacy.

Image Source: Image 2 from Home Tuition Malaysia 2u; Image 3 from
Betanews

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Gavin Pereira

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Affin Islamic Bank Rolls Out Shariah-Compliant Affin Duo-i Credit Cards

Affin Islamic Bank has officially rolled out its Affin Duo-i pair credit cards, the
shariah
-compliant version of the Affin Duo. Like the conventional version, Affin Duo-i also offers a Visa-Mastercard pair of credit cards that provide 3% cashback and 3x AFFIN Rewards Points, respectively.

Specifically, the Affin Duo-i Visa Cash Back card will offer 3% cashback on online/e-commerce, e-wallet, and auto-billing transactions – just like its conventional counterpart. The maximum cashback that can be earned is also capped at either RM30 or RM50, depending on whether you have a previous balance of less than RM3,000, or RM3,000 and above (this new cap will take effect for the conventional Affin Duo Visa Cash Back card as well,
starting from 12 March 2023
).

Meanwhile, the Affin Duo-i Mastercard Rewards card lets you earn 3x AFFIN Rewards Points for every RM1 spent on dining, groceries, and petrol transactions. There is no limit on the number of points that you can earn via this card, but the points will have a validity of 3 years. This benefit is also provided by the conventional Affin Duo Mastercard Rewards card.

While the perks offered are the same, the Affin Duo-i pair cards may differ from the Affin Duo cards in some other respects due to the former’s
shariah
-compliant status. A key distinction is, of course, that Affin Duo-i cardholders can only use the cards for halal goods and services; non-
shariah
-compliant transactions will be blocked. These include payments made to gambling/gaming businesses, package stores that sell alcohol, as well as dating and escort services.

Additionally, Affin Duo-i cardholders will not be penalised for the early settlement of balance transfer and easy instalment payment plans (full settlement before the lock-in period is completed). Affin Duo cardholders, meanwhile, may be penalised up to RM100 per plan. There are also no compounding interest fees incurred on outstanding balances for the Affin Duo-i cards, if you make partial payment on your cards (although this practice is not encouraged as a responsible credit cardholder).

Affin Bank had previously revealed the arrival of its
shariah
-compliant Affin Duo-i back in an
announcement made in early February 2023
. It noted then that the cards will be made available for application starting from March 2023. You will need to have a minimum annual income of RM24,000 to apply for this pair card, while the annual fee stands at RM75 per card – same as the Affin Duo cards.

(Source:
Affin 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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Get Your Body Tuned With This Alliance Bank Health Promo

We at RinggitPlus would like to think that we are helping you take charge of your personal finance. But making sure that your body is in tip-top condition is just as important as a healthy bank balance.

If you’re an Alliance Bank credit cardmember, take advantage of this promotion and get
health screenings and healthcare products from BP Healthcare
 at discounted prices.

Until 31 July 2013, Alliance Bank credit cardmembers are eligible for 50% off health screening tests and 50% off the second item when they purchase more than one BP healthcare product. Choose from a range of propriety devices such as blood pressure meters, digital thermometers or even an anti-snoring wristband. Please note that the half-price discount on the second item is restricted to products that have equal or lesser value than the first item.

The health screening will encompass 66 types of tests including upper abdomen ultrasound, resting ECG and AFP tests to detect liver cancer. Advance appointment booking is required for BP health screenings. Cardmembers are advised to fast for 10 – 12 hours before their appointments and to drink plenty of water.

This promotion is not applicable with other existing offers or discounts and extends to all BP Healthcare outlets in Malaysia. All payment must be made with an Alliance Bank credit card in order to benefit from the discounts.

A full list of participating outlets and BP product catalogue is available
here
.

Get the right Alliance Bank credit card for yourself using
RinggitPlus’ card aggregator
 and take advantage on this special offer.

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Big Reward Alert: Guaranteed RM1000 TNG E-Wallet Credits Up For Grabs

Like clockwork, the Unbox This Week credit card campaign is back and this time, it’s guaranteed gifts all around!

For those who are new to this campaign, Unbox 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 (28 February – 7 March), our featured bank partners are

Citibank, HSBC Bank, Standard Chartered Bank, 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 – RM1000 TNG E-Wallet Credit

We’re giving away guaranteed RM1000 TNG E-Wallet Credit to you when you apply for a Citibank Credit Card this week! Yes, you’ve heard right. Pay for tolls, spend on essentials, get your wishlist items checked out, and more!

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 Bank – RM700 Cash via DuitNow

If all you want is just some cold hard cash, you’re in luck as we’re giving away guaranteed RM700 cash via DuitNow when you apply for a credit card with HSBC! Spend the extra cash on meals and things you want to buy or transfer the money to loved ones.

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 Robot-Vacuum or Air Fryer

Standard Chartered is now giving ALL approved applicants a guaranteed gift and you get to choose between the IROVA K5A robot vacuum or the Riino Rapid Air Fryer 3.5L.

The IROVA K5A robot vacuum is best suited for multi-tasking kings and queens out there as it allows for dry mopping, sweeping, and vacuum cleaning all at the same time. Meanwhile, air fryers seem to be quite a hot item these days, most probably because it lets us home cooks whip up so many dishes without much hassle and the Riino Rapid Air Fryer would make a nice addition to your kitchen.

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
.

Alliance Bank – RM200 Shopee e-Voucher

We’re giving away a guaranteed RM200 Shopee e-voucher when you apply for a new Alliance Bank Credit Card. Get some extra shopping vouchers to spend on groceries, essentials, 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 an 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 7 March (11am), 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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Tech Gifts Up For Grabs - From iPhone 14 Pro, Samsung Galaxy S23 Plus To iPad Pro M2

Looking to apply for a credit card? The Unbox This Week credit card campaign is back with amazing gifts when you sign up!

For those who are new to this campaign, Unbox 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.

From 10 April to 17 April 2023, our featured bank partners are

none other than
Citibank, HSBC Bank, Alliance Bank, Standard Chartered Bank, Public Bank, and RHB
. 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 – NEW iPhone 14 Pro

Win the iPhone 14 Pro when you apply for a Citibank Credit Card! Capture every detail in your favourite moments with a 48MP camera even in low light, record important events in 4K HDR quality, and keep tabs on your activities at all times with an always-on-display lock screen.

If you’re not selected, you will still walk away with a guaranteed RM600 TNG eWallet Credit.

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 Bank – NEW Samsung Galaxy S23 Plus

Here’s another opportunity to win a smartphone – the Samsung Galaxy S23 Plus when you apply for an HSBC Bank Credit Card!

Enjoy state-of-the-art features with the Samsung Galaxy S23 Plus including a Detail Enhancer technology to improve the depth and definition of your photos, powerful Snapdragon® 8 Gen 2 Mobile Platform for smoother gaming as well as video streaming.

For those who are not selected, you will still walk away with guaranteed RM600 Cash Via DuitNow.

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 – Apple iPad Pro M2

Win the iPad Pro M2 when you apply for a Standard Chartered Credit Card! Get more done with the new Apple iPad Pro that is powered by the M2 chip. You can expect a speedier iPad experience with an 8‑core CPU when you are playing games, working on your projects, or streaming videos.

For those who are not selected, you will still get a guaranteed pair of Apple AirPods.

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
.

Alliance Bank – Realme Watch 2 Pro or URBANLite Ledge 24″ Luggage

The more options, the merrier – take home a guaranteed Realme Watch 2 Pro or URBANLite Ledge 24″ Luggage Bag when you apply for a new Alliance Bank Credit Card.

The Realme Watch 2 Pro has a 1.75’’ display for your easy viewing, comes with 90 varied sports modes, high-precision dual-satellite GPS, and is best of all, guaranteed to you when you apply for an Alliance Credit Card with Balance Transfer.

Meanwhile, you will receive the sleek URBANLite Ledge 24″ Luggage that comes with multi-stage telescopic trolley handle, 360-degree spinner wheels, and more when you apply for an Alliance Credit Card.

Upon approval, you just have to activate and spend to meet the requirements of the campaign and be eligible to get the gift. Existing cardholders of any Alliance Bank credit card and individuals who have held or cancelled an Alliance Bank credit card in the past six months are not eligible for this campaign. Apply for an Alliance Bank Credit Card
here
.

Public Bank – Xiaomi Poco M5 Smartphone

Fortune a-calling! Win the Xiaomi Poco M5 Smartphone when you apply for a Public Bank Credit Card this week.

Great for everyday use, the Xiaomi Poco M5 Smartphone comes with a durable Corning® Gorilla® Glass display, 5000mAh (typ) high-capacity battery, and a 50MP AI triple camera.

For those who are not selected, you will still walk away with a guaranteed Midea MVC-SC861 Handheld Stick Vacuum.

All you need to do is complete your application via the RinggitPlus website, get approved by Public Bank, and make an accumulative spend of RM250 within sixty (60) days of approval to be guaranteed this gift. Apply for your Public Bank credit card
here
.

RHB – RM500 Cash Via DuitNow

Get RM500 Cash via DuitNow guaranteed to you when you apply for a RHB Credit Card! Save it up, share it with loved ones, or invest it – it’s a gift that keeps giving.

Once approved, you just have to activate and spend to meet the requirements of the campaign and be eligible to get the gift. Existing cardholders of any RHB Bank credit card and individuals who have held or cancelled an RHB Bank credit card in the past six months are not eligible for this campaign. Apply for an RHB 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 17 April 2023 (11am), 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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PM: Govt Agrees To Extend SSPN Tax Relief Until 2024

(Image: Malay Mail)

Prime Minister Datuk Seri Anwar Ibrahim said that the government has now agreed to extend the tax relief for Skim Simpanan Pendidikan Nasional (SSPN) deposits until 2024, following public complaints after it was indicated earlier that the relief will be discontinued starting from this year.

In a Twitter post, Deputy Finance Minister I, Ahmad Maslan said that this update was announced today, during the first reading of Budget 2023 in Dewan Negara by Datuk Seri Anwar, who is also the Finance Minister. It is expected to benefit 400,000 taxpayers, most of whom fall within the M40 and T20 income group.

Ahmad Maslan further highlighted that this reversal of the decision will cost the government an estimated loss of RM250 million in tax revenue.

PM DS
@anwaribrahim
 ketika bentang
#Belanjawan2023
 di
#DewanNegara
 29/3/23 umum pelepasan cukai individu hingga rm8000 utk SSPN Skim Simpanan Pendidikan Nasional
@PTPTNOfficial
 diterus hingga 2024. Libatkan sekitar 400 ribu pembayar cukai, (T20/M40) & kehilangan hasil rm250 juta.
pic.twitter.com/TVLAyM99j8
— Ahmad b Maslan (@ahmadmaslan)
March 29, 2023

Prior to this, Deputy Finance Minister II, Steven Sim had come forward to confirm that the
government had decided not to extend the SSPN tax relief
 as several other tax exemptions and deductions were already introduced under the revised national budget. These include a
2% cut in the individual income tax rate
 for selected income brackets and an increase in tax relief for medical expenses. Additionally, the National Higher Education Fund Corporation (PTPTN) also reintroduced a
repayment discount of up to 20%
, along with a
loan repayment moratorium
 for those who earn less than RM1,800.

Meanwhile, the chief executive officer of the Inland Revenue Board (LHDN), Datuk Dr Mohd Nizom Sairi said that
taxpayers can voice out their dissatisfaction
 with the discontinuation of the SSPN tax relief to the government. He also stressed that LHDN is only responsible for implementing decisions made at the policy level by the government.

Several other politicians, too, voiced their disagreement with the government’s decision to discontinue the tax relief, stating that the SSPN tax relief is an important policy for parents. These include
Datuk Seri Dr Wee Ka Siong
,
Syed Saddiq
, and
Datuk Wan Saiful Wan Jan
.

The SSPN tax relief of up to RM8,000 has been provided to the public over the past few years, and has served as one of the key incentives to encourage parents to save with SSPN (under their children’s name) for their children’s education. This is on top of other advantages, such as the
interest rate offered
 and
bonuses via loyalty campaigns
. This tax relief was, however,
left out of the revised Budget 2023
 when it was retabled in February 2023.

(Sources:
Bernama
,
Steven Sim
)

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PTPTN

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SSPN

SSPN Account

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Steven Sim Chee Keong

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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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Your Insurance Could Cost You a Tycoon's Divorce Settlement

Divorce isn’t an easy decision for any couple to take but sometimes; “irreconcilable differences” may mean it’s the best route under the circumstances. The event is troubling enough as is and the last thing you want to think about is all the other paperwork looming beyond your divorce decree. Namely, your insurance policies.

But neglecting to take a good look at policies you took out when you were with your former spouse may not be the best thing for you. Here’s why.

Sticky Divorce/Insurance Situations

Your former spouse as beneficiary:
 If you named your spouse or your children as a beneficiaries, they hold the right to received all proceeds upon your death or permanent disability. Whilst this may have been your intention when you were together; you may in future have a new spouse or you might feel the need to give the entire amount to your children. Unfortunately, insurance policies are sealed in the time they are made and nominations placed. This means; your insurance policy isn’t fluid enough to change as and when your situation does.

Your former spouse as trustee:
 As opposed to beneficiaries, a trustee holds the right to manage or to hold on to the proceeds when you pass on. Divorce proceedings can sometimes end up bitter feuds but even if not; as time passes; your spouse may have different responsibilities or ideas pertaining to the distribution of the policy monies. To ensure you are always in control of the policy you are paying for; it’s better to reassign the responsibility of trustee to an impartial executor or even approach a trust lawyer for the job.

To fix any problems arising from the previous nomination of an ex-spouse; you should probably renominate a new beneficiary in your policy.

Renomination: Your Best Bet For Smoother Distribution

Preparing a will seems to be the surest way to have your inheritance properly distributed based upon your wishes. But according to section 164(2) of the Insurance Act of 1996, a will
cannot
 be use to override the nomination stated in an insurance policy. If your ex-wife was nominated on the existing life insurance, she is entitled to all the proceeds if no changes on insurance were made after the divorce.

As a result, if you have remarried, your current spouse will not receive any of the proceeds. The Court of Probate will not assume any intention on your behalf and it is best that they don’t in any case. To truly ensure that the insurance payout goes to the people whom you want; you will have to effect a renomination, that is, change the name of the person who receives the money when it’s time for a payout of that policy.

Steps to Effective Renomination

Renominating is actually pretty simple but most people overlook the necessity of undertaking such a task. Although, some steps may vary slightly based on the insurance company – the general steps should be pretty simple.

Contact your Insurance Company/Agent
. Contact your insurer to find out the exact forms and paperwork required for a renomination.

Fill in the required documentation
. Typically, there will be two forms you will need to fill: a revocation of previous nomination form and a nomination form. So you will need to fill in the form revoking the previous nomination and then fill in a new nomination form with a new nominee. Unfortunately, some companies require the consent of the nominee who is being removed. In such an instance, if your former spouse is unwilling, you may need to cancel the policy altogether. Nonetheless, do confirm with your insurer if this consent is absolutely necessary.

Make a new nomination
. Making a new nomination is as simple as filling a form.

Keep copies of all submitted forms with the requisite acknowledgements from the insurer in a safe place together with your will and other inheritance documents
. Keeping copies of the revocation and renomination forms with insurer acknowledgement ensures that should any change not be reflected in your policy upon your demise; it will be easier for your new beneficiaries to show intention of the change to the Court of Probate.

Divorce procedure is time-consuming process and nerves can be frazzled. But reviewing and revising your life insurance plan shouldn’t be taken lightly either as it means your money being distributed in the way you want it to.

Note: The mechanics of insurance in the case of Muslim divorce and inheritance is outside the scope of this article. Check back soon for a look at Islamic inheritance, divorce and insurance.

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Denise Chan

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Lazada Now Accepts Boost As A Payment Method

You can now pay for your online shopping on popular e-commerce platform Lazada using the Boost e-wallet. By using Boost as a payment method, you can collect Boost Coins for your online shopping on Lazada.

“Lazada is officially Boosted, which means all your online checkouts can now be settled with just a Boost,” said the e-wallet in a notification. “So, if you’re planning to do some online shopping this MCO, you can start filling up your shopping carts today! And we’ll be there to help you check out safely and securely no matter where you are.”

All you have to do is select Boost as your payment method at the Lazada checkout, and sign in using your registered Boost mobile number and Boost 6-digit PIN. Make sure that you have an active Boost Wallet account with sufficient balance and note that the maximum amount per transaction is RM4,999, following the
wallet size
 for Premium accounts.

Lazada currently offers quite a range of payment methods, including Visa or Mastercard credit or debit cards (but still no Amex!), online banking, the
Touch ‘n Go eWallet
, and for transactions above RM500, Maybank installments.

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Malaysia’s National Public Holidays in 2018

As we look forward to ushering in 2018 in 10 days or less, you may have begun to plot your leave for the upcoming year especially when there’s plenty to do but with minimal time to spare.

Hence, to make life easier for everyone (so that you will have that upper-hand when it comes to knowing when to apply for leave), we will now share with you the much-coveted public holidays in Malaysia for the year 2018.

Month

Day

Public Holiday

Valid For

January

01 (Monday)

New Year’s Day

All States Except For Johor, Kelantan, Terengganu, Perlis, Kedah

January

31 (Wednesday)

Thaipusam

WP (Kuala Lumpur, Putrajaya), Selangor, Johor, Negeri Sembilan, Perak, Penang, Selangor

February

01 (Thursday)

Federal Territory Holiday

Only For WP (Kuala Lumpur, Putrajaya, Labuan)

February

16 (Friday)

Chinese New Year (1st Day Of The Lunar Month)

Valid For All States

February

17 (Saturday)

Chinese New Year (2nd Day Of The Lunar Month)

Valid For All States Except For Kelantan And Terengganu

March

30 (Friday)

Good Friday

Sabah And Sarawak Only

April

14 (Saturday)

Isra And Miraj

Kedah, Perlis And Negeri Sembilan Only

May

01 (Tuesday)

Labour Day

All States In Malaysia

May

17 (Thursday)

Beginning Of Ramadan/Awal Ramadan

Johor, Kedah And Malacca

May

29 (Tuesday)

Wesak Day

All States In Malaysia

May

30 (Wednesday)

Harvest Festival

Sabah And Labuan

May

31 (Thursday)

Harvest Festival

Sabah And Labuan

June

01 (Friday)

Harvest Festival

Sarawak Only

June

02 (Saturday)

Nuzul Quran

Varies According To Different States

June

02 (Saturday)

Harvest Festival

Sarawak Only

June

15 (Friday)

Hari Raya Aidilfitri

All States

June

16 (Saturday)

Hari Raya Aidilfitri (2nd Day)

All States

July

22 (Sunday)

Sarawak Day

Sarawak Only

August

22 (Wednesday)

Hari Raya Haji

All States

August

23 (Thursday)

Hari Raya Haji (2nd Day)

Kelantan And Terengganu Only

August

31 (Friday)

National Day

All States

September

11 (Tuesday)

Awal Muharram

Varies According To Different States

September

16 (Sunday)

Malaysia Day

All States

November

06 (Tuesday)

Deepavali

All States

November

20 (Tuesday)

Maulidur Rasul

Varies According To Different States

December

11 (Tuesday)

Birthday Of Sultan Selangor

Selangor Only

December

25 (Tuesday)

Christmas Day

All States

We hope that you have found this article on public holidays in Malaysia useful for your future usage. For those who are aiming to travel somewhere during the long holidays, we would like to wish you safe and pleasant journey ahead.

Just one last tip before you move on to booking that
affordably-priced getaway
; do yourself a favour as you make your way into the unknown territories by applying for a
travel insurance policy
.

After all, that’s the least you can do to protect yourself in the event of accidental injury or catching a disease in a foreign land with no financial means of getting yourself treated for those ailments. Feel that it’s too much of a hassle to look up the travel insurance policies available online?

Our
comparison tool
 is here to help you address your qualms and pick the best travel insurance policy that is line with your expected budget and requirements. Do note that
not all travel policies are the same and some come bundled with specific benefits and exclusions
 so it’s always wise to read carefully before committing to anything. Happy hunting!

Are there any other holidays that you would like for us to add on to the article? Let us know your thoughts and comments in the comment section below.

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CIMB Revises World Mastercard To Offer Enhanced Travel Benefits

CIMB has announced some changes to the features of its
CIMB World Mastercard
 that will kick in on 15 November. The revision introduces some new benefits geared towards the frequent traveller, such as overseas cash rebate and higher bonus points for flight tickets.

Before 15 November

After 15 November

2x Bonus Points for overseas spend

RM1 million travel insurance coverage

KLIA/klia2 premium ride discounts (until 31 December 2019)

4x complimentary green fees at regional golf courses

1.5% cash rebate on overseas spend

RM1 million travel insurance coverage

5x Bonus Points for flight ticket purchases

15% off at The ZON Duty Free outlets in Malaysia

15% off and RM10 stamp duty waiver for travel insurance

Preferential foreign exchange rates at CIMB Bank Bureau de Change in Malaysia

CIMB World Mastercard cardholders will still get the same 1x Bonus Points for local spend, but the they will no longer earn 2x Bonus Points for overseas spend. Instead, cardholders will receive an unlimited 1.5% cash rebate on overseas spend. Both retail purchases overseas and online spend in foreign currency qualify for the cash rebate. Cardholders are eligible for this cash rebate until 30 November 2020.

Another new benefit introduced is the 5x Bonus Points for flight ticket purchases, a feature that would help the cardholder rack up points more quickly. According to CIMB, 100,000 Bonus Points is equivalent to RM250. Moreover, buying your flight tickets with your CIMB World Mastercard gets you automatic travel insurance coverage of up to RM1 million – a current feature of the card that will be carried forward to the new version.

Besides the overseas cash rebate and 5x bonus points for flight tickets, the revised CIMB World Mastercard will also offer the following travel-centric benefits:

Benefit

Valid until

15% off at The ZON Duty Free outlets in Malaysia (in addition to 1x bonus points for local spend)

15 November 2021

15% off and RM10 stamp duty waiver for travel insurance

30 June 2020

Preferential foreign exchange rates at CIMB Bank Bureau de Change in Malaysia

30 November 2020

Meanwhile, the CIMB World Mastercard’s other privileges like up to 50% off hotel dining privileges across the region and one-for-one afternoon tea set deals at selected hotels in Kuala Lumpur remain unchanged by the revision. The existing CIMB Regional Golf programme, which gives cardholders 4x complimentary green fees, will continue until 31 December 2019. After that, you can enjoy the privileges of the Mastercard Southeast Asia Golf – World programme instead, with 50% off green fees at 25 golf courses in 9 countries.

As mentioned, the changes to the
CIMB World Mastercard
 will take effect on 15 November 2019. The annual fees for the CIMB World Mastercard remain fully waived and the minimum income requirement is RM90,000 per annum (RM7,500 per month).

If you’re interested in getting yourself a travel card, you can also have a look at our
travel credit card comparison page
 here.

(Source:
CIMB
)

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