Tips to Avoid Wasting Food at Ramadhan Bazaars

Ramadhan bazaars are great places to score some seasonal delicacies that only pop up around this time of year. However, there’s a chance (whether you’re fasting or not) that you may end up buying way more than you need. Here are some tips and tricks on how to avoid overspending at your local Ramadhan bazaar.

Have A Plan

Its incredibly tempting (especially if you’re fasting) to enter the swath of people and stalls in the bazaars with open eyes and open wallets. The cleverly named foods (Justin Bubur! Ayam Gosling!) and the alluring novelty of seasonal items (Maggi murtabak, air kathira, goose curry, etc) may pull you in and convince you that your quadruple double-bags of food are must-have purchases. But do not be fooled by your senses. Take a step back and consider jotting down a plan.

We suggest limiting yourself to 1 main dish and 1 dessert each time you go to a bazaar. This limit will be hard to stick to, but you will find that once you reach home and start eating, you won’t be able to finish much more than that by yourself. Even if you’ve been fasting all day. It’s better to eat less than throw food away, after all.

Go Somewhere Nearby

When choosing a bazaar to go to, be sure that it’s not too far away from where you live. Or not too far from a mosque if you’re fasting. Why? The farther away a bazaar is from your place, the more you will tend to wander around in the bazaar. The justification being that “we don’t come here very often, we should check out
everything
 this place has to offer!”.

Don’t give in to this logic. If the bazaar you visit is close to home you can always visit another day to purchase the items you skipped out on one day. If the bazaar is close to the mosque, you have a nearby place to stop for prayers and properly evaluate whether or not you
really
 need that second helping of Ayam Gosling.

Read Also:
Top 10 Ramadhan Buffets Under RM100 In Klang Valley

Give Away Your Food

If you really can’t help but buy more than you can finish when out in the bazaar, you can go ahead and purchase those extra items with the intention of donating them away. Once more, a bazaar that’s near to the mosque makes this much easier to do.

Furthermore, you don’t need to be a Muslim to donate your surplus bazaar goodies. In addition, the foods you buy will always be halal. This way you get to satisfy your tastebuds’ curiousity while not wasting any food.

If You Still Have Leftovers, Learn to Use Them Better

Sometimes, you may end up with more food than you intended to have. Not to worry, this happens outside of the fasting month as well, occasionally. In case this happens, you need to be equipped with all the tools and techniques necessary to maximise the use of your leftovers for the next day. Luckily,
we’ve already covered that
 previously on RinggitPlus blog.

Now that you’re equipped with these tips, we wish you success in your bazaar-trawling adventures this Ramadhan!

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Ahmad Mudhakkir

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What You Need To Know About Current Accounts

What is a current account?

A current account is an account which allows you to make withdrawals and deposit funds. You can make online purchases, debit card purchases, fund transfers, interbank GIROs and general payments like phone bills, credit card bills, and pay for your car loan instalments. Although these functions can also be done by its sibling the savings account, a current account can do one better: it provides cheque payments and bank overdraft services.

The cheque book has long been an important banking tool as it gives security and is easy to carry around. – only the person it is signed to with an authorised signature can cash the cheque. Otherwise, It is pretty much a useless piece of paper!

If you need emergency funding, or just need to leverage on your income, you can apply for a bank overdraft. The amount you can borrow will range from RM250.00 to RM250,000, subject to a credit check. In addition, some banks may require you to secure your borrowings with some collateral, such as a fixed deposit. For example,
Maybank will need at least RM10,000 in collateral
 before deciding to grant you with an overdraft. Like any regular loan, you will also be charged an interest rate on the borrowed cash.

What kind of fees and charges do you need to pay?

Banks love their fees and charges, no doubt about it. Below are the fees and charges that you’d normally expect from a basic current account:

Service Charge

RM10 every 6 months; or RM5.00 monthly.

Over The Counter (OTC)

One-off payment of RM8.00 paid annually or RM2 per transaction.

Interbank IBG

Free; or 10 sen per transaction

ATM Card/Debit Charge

RM1.00 per transaction.

Closing Fee

RM20.00 within 3 months of opening

Overdraft Fee

RM10 stamp duty

Cheque

RM0.15 stamp duty*

*To those who regularly make cheque payments, please take note that Bank Negara Malaysia (BNM) will implement a 50 sen charge on top of the RM0.15 stamp duty already charged starting on 1st January 2015.

Here’s a tip: You should use Interbank GIRO to transfer money for cheap to accounts in other banks, at only RM0.10 per transaction, it will save you a ton compared to paper-based payment methods. It allows you to transfer funds through electronic banking channels such as internet and mobile banking, corporate e-banking, bulk electronic payments and payroll files. This method is safe as the payments will be constantly monitored and controlled by the bank.

You can enjoy free IGB transactions with a certain amount of balance in your account, depending on your preferred bank. Your payment will be transferred on the same day if you make it before 12.30p.m., on a working day. How’s that for efficiency!

Should you use a current account?

It all boils down to your needs. If you own a business, you probably would need to use a cheque book to make large payments. Even if you need to make immediate payments, a current account will also provide automatic bill payments via phone or internet banking.

Many current accounts also offer attractive interest rates, such as the RHB MaxCash and the CIMB Money Multiplier, but only for high deposits – so if you have tons of cash to store, might as well deposit into a high interest bearing current account. That way, you can make cheque payments, overdraft when you’re strapped for cash, and still grow your wealth!

How do you apply for a current account?

Anyone who is 18 years old and above can apply for a current account. Just head on to the nearest bank of your choice along with your Identification Card and starting deposit for account activation. The amount to deposit can be as low as RM1.00, but be sure to check the rates online before you head on to your nearest branch. Luckily for you, we have a
current account comparison tool
 to help you do exactly that!

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Bank Islam Crowned As Malaysia’s Strongest Islamic Retail Bank For 2020

(Image: The Star)

Bank Islam has been crowned as Malaysia’s Strongest Islamic Retail Bank for 2020 by the Cambridge International Financial Advisory (Cambridge IFA) at the virtual 6
th
 Islamic Retail Banking Award 2020. This is the second time that the bank has won the award, with the first being in 2015.

The chief executive officer of Bank Islam, Mohd Muazzam Mohammed said that the bank is thankful for the prestigious award as it acknowledges Bank Islam’s strong commitment in delivering its customers’ expectations. It also recognises the bank’s continuous focus in providing comprehensive and innovative shariah-compliant financial and banking solutions.

“We achieved many firsts in our 37-year history including the first issuance of Islamic sukuk in Malaysia and involvement in the digitalisation of Malaysia’s judiciary system via facilitating bailing process through the
eJamin facility
. The latest is the launch of
BangKIT microfinance facility
 funded by sadaqah (donation), which is also the first-of-its-kind in the country. BangKIT, based on the qardhul hasan (profit-free) contract, is specially developed to finance selected unbanked and underbanked micro-entrepreneurs for them to start or broaden their small business,” said Muazzam.

On top of that, Muazzam commented that Bank Islam had embarked on a three-year strategic plan that focused on its digital banking initiatives. He said that it was a timely move as Covid-19 has accelerated the digital adoption among its customers, thereby changing the way Bank Islam does its business.

“Our mobile banking app, GO by Bank Islam had shown tremendous progress in a short period of more than 500,000 users – with an average growth of usage of 50% from March 2020 when the government enforced movement control order (MCO) to curb the spread of the pandemic. Between March to September 2020, more than RM2.4 billion in transaction amount was recorded through this app,” said Muazzam, adding that Bank Islam will be launching more services via the app so that customers can enjoy more convenience.

Muazzam further emphasised that Bank Islam’s strength is not determined solely by its financial accomplishments. Rather, it is also bolstered by the bank’s efforts in supporting the economy, community empowerment, as well as environmental protection. The bank has been proactive in assisting affected individual and business customers since the onset of Covid-19, offering financial aids such as the rescheduling and restructuring facility, as well as
targeted
 and
enhanced targeted repayment services
.

(Image: The Malaysian Reserve)

“Malaysia’s Strongest Islamic Retail Bank for the year 2020 title also demonstrates Bank Islam’s readiness to become the first and only listed Islamic bank in Malaysia and the region. Hence, we will continue to innovate and deliver comprehensive financial solutions by leveraging the latest technological advancements to cater the need of a diversified portfolio of customers, at the same time continue to deliver value for our stakeholders,” said Muazzam.

The
Islamic Retail Banking Award
 seeks to honours individuals and institutions that have significantly contributed to the growth and success of Islamic retail banking. It selects its winners based on an efficiency study conducted by Cambridge IFA, which ranks more than 130 Islamic retail banks.

(Sources:
Bank Islam
)

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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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Etiqa Rolls Out Insurance Coverage For EV Home Chargers

Etiqa has rolled out Malaysia’s first insurance and takaful coverage for electric vehicle (EV) home chargers, currently provided as a complimentary add-on to its comprehensive Etiqa motor insurance plan. The offer is available to customers who sign up for Etiqa’s private car policy between 1 October 2022 to 31 March 2023.

Underwritten by Etiqa General Insurance Bhd and Etiqa General Takaful Bhd, the add-on coverage – which is valid for a year – will provide reimbursements of up to RM12,000 to replace or repair your EV home charger in the event of the following situations:

Theft (forcible and violent entry)

Fire

Flood

Lightning

Explosion

Hurricane, cyclone, typhoon, windstorm, and earthquake

Aircraft and aerial devices or articles dropped therefrom

Impact damage by road vehicles

Burst or overflowing water tanks, apparatus, or pipes

Etiqa also clarified that the coverage is limited to one occurrence during the tenure of the insurance plan, and is applicable only to newly registered battery powered EVs or plug-in hybrid EVs used for private purposes with new home chargers. Additionally, the vehicle insured must be below one year of age, and should not have been reconditioned.

(Image: Mahsing)

“Standalone coverage for EV home chargers under the All Risk Insurance and Takaful plan is also available for EV owners who have purchased the EV home wall charger separately from their new motor insurance/takaful,” the insurer further shared in a statement.

“As a leading insurance and takaful operator that champions sustainability, Etiqa is pleased to offer the first-in-Malaysia insurance and takaful coverage for EV home chargers. We hope that this will ease the concerns of car owners in considering EVs as an attractive option when purchasing new vehicles and spark further conversation in the personal choices we can all make to tackle climate changes,” said the chief strategy officer of Etiqa, Chris Eng.

(Sources:
Etiqa
,
The Star
)

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Alex Cheong Pui Yin

Alex Cheong Pui Yin

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

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FT Minister: Free Roadside Parking In KL Until 31 August

(Image: Malay Mail)

Roadside parking in Kuala Lumpur will be free of charge from 2 July to 31 August 2021, said Federal Territories Minister Tan Sri Annuar Musa via Twitter.

“Consumers don’t have to pay for anything and it is hoped that the savings can be used for things needed for the family,’’ tweeted the minister.

PENGUMUMAN
Saya bersetuju mulai esok sehingga 31hb Ogos,semua tempat letak kereta bahu jalan(Road side parking)dalam kawasan Bandaraya Kuala Lumpur adalah PERCUMA.Pengguna tidak perlu bayar apa apa dan di harap penjimatan itu dapat di gunakan utk membeli barang keperluan keluarga

— Annuar Musa (@AnnuarMusa)
July 1, 2021

According to
The Star
, the news had taken DBKL officers by surprise as they were not aware of the matter. “I guess you just have to wait for the ministry to provide the details on that,’’ a DBKL officer said.

There are about 46,100 street parking bays in the Kuala Lumpur area.

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Savings at Universal Studios Singapore with Maybank American Express Card.

The holidays are here for both local and international schools and for those of you lucky enough to have a Maybank American Express Card, here’s a great offer on how you can savings up to 23% on your entrance tickets to Universal Studios Singapore.

All you have to do is swipe your Maybank American Express Card on site when purchasing an adult ticket, and you will get a special rate of S$64 for a one-day adult pass to Universal Studios Singapore together with a S$10 retail voucher (usual price S$84)

Alternatively, if you are planning to visit both Universal Studios Singapore and S.E.A. Aquarium on the same day, instead of paying a whopping S$103 for both passes, with the Maybank American Express Card you pay only S$88 for a one-day adult pass to both.

However, please note that the entrance passes has to be utilised on the same day, hence both attractions must be visited on the same date.

There is also a maximum purchase limit of 6 passes per card member, per day or 6 packages per card member, per day; and is subjected to the availability and excludes black out dates. Here are the full
terms and conditions.
 Hurry, the promotion ends 31 May 2013.

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RinggitPlus Announces Partnerships With FSMOne & Fi Life To Offer Exclusive Benefits For The RinggitPlus Community

RinggitPlus has announced strategic partnerships with two digital financial providers, FSMOne and Fi Life, as the fintech company looks to offer exclusive benefits for its customer base.

Through the strategic partnerships, everyone in the RinggitPlus community, from RinggitPlus Financial Planner and Academy clients, customers who successfully applied for financial products through RinggitPlus, as well as RinggitPlus Blog readers, can enjoy additional benefits when they apply for products from our strategic partners. These may come in the form of additional rebates and exclusive limited-time promotions.

“At RinggitPlus, we don’t just believe in providing access to financial products to all Malaysians, but to provide them at low fees and empower Malaysians with self-serve platforms that encourage exploration and knowledge sharing. We hold tightly to these principles in all our activities, whether it is in our financial planning sessions or in forming partnerships with industry players. With FSMOne and Fi Life, it was an easy decision to collaborate – they share a similar goal with us of providing affordable access to financial products, and are strong financial literacy advocates,” said Hann Liew, co-founder and director of RinggitPlus.

FSMOne

FSMOne is a household name for Malaysian investors, being the largest unit trust marketplace in Malaysia and having been in operation since 2008. It is well known as a one-stop platform offering hundreds of unit trust funds across multiple fund houses, and more importantly, at low fees – sometimes even lower than if you were to invest at the fund houses themselves!

The huge variety of funds available means Malaysians can choose the best funds for their unique risk appetite. For those who don’t have the time, FSMOne also offers its Regular Savings Plan where clients can select unit trusts to be purchased automatically every month for better convenience. More recently, FSMOne also added Bursa Malaysia stock and ETF trading to its platform, further enhancing its reputation as
the
platform to go for investments.

If all that’s not enough, there’s an extensive database of fund information and articles from FSMOne’s panel of expert analysts covering the economic and investment climate both in Malaysia and globally. If you’re just starting your investment journey, there are articles for you too. Best of all, signing up for an FSMOne account is free – you can find out more about them
here
.

Fi Life

Meanwhile, Fi Life is an insurtech outfit seeking to make insurance appealing to the younger generation. It is Malaysia’s first online-only insurance platform, which means its life and medical insurance products are directly available to consumers at very competitive rates. Its policies are underwritten by Tokio Marine Life Insurance Malaysia Bhd and AXA Affin General Insurance Bhd. The policies can be purchased directly through its minimalist and intuitive website – the life insurance application process takes just 15 minutes and does not require any medical check-ups.

Its learning hub contains informative & easy to digest articles covering not only insurance topics, but personal finance in general. And if you need more help, there’s even a life insurance calculator to provide a better estimate of your insurance needs.

Enjoy Exclusive Benefits For All RinggitPlus Readers

To celebrate the partnership with RinggitPlus, both FSMOne and Fi Life are offering exclusive perks for all RinggitPlus Blog readers. FSMOne customers can enjoy a 0% sales charge for nine funds that have been curated by our Licensed Financial Planners. This 0% sales charge promo will be available only for one month from 15 June until 15 July 2021, and is only available for new FSMOne customers who register through
this link
. The nine funds are:

KAF Vision Fund
PMB Shariah Growth Fund
Kenanga Growth Opportunities Fund
Principal Greater China Equity Fund (AUD Hedged, MYR, MYR Hedged, RMB Hedged, SGD Hedged, USD)
Eastspring Investments Dinasti Equity Fund
Affin Hwang Select Asia (Ex Japan) Quantum Fund (AUD, GBP, MYR, SGD, USD)
Manulife Investment US Equity Fund
Principal Global Titans Fund
RHB US Focus Equity Fund

The funds above have been curated by our Licensed Financial Planners (CFP) through a robust selection process that includes investment horizon, geographic exposure, Sharpe ratio, top holdings, and historical performance*. They will be sharing more about these funds on the blog soon!

In addition, FSMOne will also be offering 0% subscription fees for all of its Managed Portfolios from 15 June until 15 July 2021! The FSMOne Managed Portfolios are designed for investors who prefer a hands-off approach to investing, where FSMOne’s team of portfolio managers will actively manage, monitor, and rebalance each of the 10 portfolios without any input from the investors.

Meanwhile, Fi Life is offering an exclusive 10% discount off your first-year premium for any life insurance product offered by Fi Life! This perk is available to
all RinggitPlus Blog readers
, so we hope you enjoy the savings.

Simply enter the promo code “RPLUS10” after choosing your plan to enjoy 10% off the first-year premium. Alternatively, you can also
sign up through this link
 to have the code automatically entered for you to enjoy the discount.

Besides being Malaysia’s leading financial marketplace, RinggitPlus has seen steady growth in its financial planning service,
RinggitPlus Financial Planner
 which was
 launched earlier this year
. The partnerships with FSMOne and Fi Life mark an exciting chapter that provides a win-win-win solution for RinggitPlus, our strategic partners, and the RinggitPlus community.

*Disclaimer: While the funds have been curated by the RinggitPlus CFPs, prospective investors should conduct their own research to determine the suitability of the funds for their individual investments. The list of 9 funds is correct at the time of publication, but may change in the future.

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Pang Tun Yau

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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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Flour subsidies headed for the chop

We posted about
 possible subsidy cuts on sugar
 3 weeks back, and now it seems with the coming Budget 2014, flour subsidies may be cut too meaning more pressure on pockets.

Domestic Trade and Consumer Affairs Minister, Hasan Malek

explains that the subsidy cut is part of the government’s subsidy

rationalisation plan. The reason behind the cuts, he says, is

to
enhance economic growth and development
 of the country, as well as to take

care of the people’s welfare even if it means making unpopular decisions.

“The government’s intention is to strengthen the economy. We

do not want to be like the United States, where its economy has been shut down,”

he said, after opening a briefing on current issues and consumerism campaign with

hawkers and traders in Ipoh, Perak.

He

stressed that
 the subsidy cuts will not affect supply
 as it will still be enough to meet the

demand of consumers.

The

government may have assured consumers that the sugar and flour prices
would not increase in the past
, but it seems the Malaysian government has decided to rethink its Budget 2014 and

strategies.

With

only 2 to 3 weeks left to go before Budget 2014 is announced, who knows what

other ‘surprises’ are in store for consumers.

*Picture from
Realfood.Tesco.com

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Maybank Apple Pay In Malaysia: Full List Of Cards Supported & AMEX Coming Soon

With
Apple Pay now having officially debuted in Malaysia
, Maybank has been revealed as one of the three banks that will support the payment method. This means that you can now link selected Maybank payment cards to your Apple Pay, ready to tap into the new contactless payment option when making your purchases.

According to Maybank’s dedicated Apple Pay page – which is now officially live – customers can link their Maybank credit, debit, and prepaid cards (both Mastercard and Visa) to their Apple Pay. The supported cards are listed here in full for your easy reference:

Maybank Visa
Maybank Mastercard
Credit cards

– Maybank Visa Infinite Diamante card
– Maybank Visa Infinite card
– Maybank Manchester United Visa Infinite card
– Maybank Islamic Ikhwan Visa Infinite card-i
– Maybank Visa Signature card
– Maybank FC Barcelona Visa Signature card
– Maybank Shopee Visa Platinum card
– Petronas Maybank Visa Platinum card
– Maybank Islamic Petronas Ikhwan Visa Platinum card-i
– Maybank 2 Visa Platinum card
– Maybank Visa Platinum card
– Maybank Manchester United Visa card
– Maybank Manchester United Visa Limited Edition 2022 card
– Petronas Maybank Visa Gold card
– Maybank 2 Visa Gold card
– Maybank Visa Gold card
– Maybank Visa Classic card
Debit cards

– Maybank Visa debit card
– Maybank Manchester United Visa debit card
– Maybank Manchester United Visa Limited Edition 2022 debit card
– Maybank FC Barcelona Visa debit card
– Tokyo 2020 Maybank Visa LED debit card
– Maybank MAE debit card
Prepaid card

– Maybank Visa Manchester United prepaid card
Credit cards

– Maybank World Mastercard card
– Maybank Islamic World Mastercard Ikhwan card
– Maybank Grab Mastercard Platinum Black card
– Maybank Grab Mastercard Platinum White card
– Maybank 2 Mastercard Platinum card
– Maybank Mastercard Platinum card
– Maybank Islamic Mastercard Ikhwan Platinum card
– Maybank 2 Mastercard Gold card
– Maybank Mastercard Gold card
– Maybank Islamic Mastercard Ikhwan Gold card
– Maybank Mastercard Classic card
Debit cards

– Maybank Mastercard Platinum debit card

American Express (AMEX) cards, meanwhile, are currently not supported, but Maybank’s FAQ document noted that customers can it to be enabled soon. This is further affirmed by Apple itself, in the
official Apple Pay (Malaysia) page
 – which also just went live not too long ago. Aside from that, Maybank and Maybank Islamic’s commercial/corporate cards cannot be used on Apple Pay.

Maybank also clarified in its FAQ that you can add your Maybank cards to Apple Pay via Apple Wallet on your iPhone, or via the MAE by Maybank2u (MAE) app on your iPhone. If you’re using the former method, just fire up your Apple Wallet, tap on the + sign on the top right corner of your screen, and follow the prompts provided (including a verification process).

Meanwhile, if you’d like to add your cards using the MAE app, follow these steps instead:

Open the MAE app

Access the “Maybank2u” tab

Go to the “Card” dashboard

Select the card that you want to add to your Apple Wallet

Tap “Add to Apple Wallet” and follow the prompts

Each user is allowed to add multiple Maybank cards to Apple Pay, up to a maximum of 10 cards (with the first card added being your default card, although this can be changed anytime). Additionally, you’re able to add the same Maybank card to more than one device using Apple Pay – up to 10 devices. If you’re a Maybank Grab Mastercard Platinum credit cardholder, you’ll have the capability to add your virtual card to Apple Pay as well, while you wait for your physical card to arrive.

Once you’ve added the eligible Maybank payment cards to your Apple Pay, you’re ready to start paying for your purchases at stores with just a tap! For successful transaction, you’ll receive a push notification on both Apple Pay and your MAE app to alert you. Meanwhile, non-MAE app users will be notified via SMS instead.

Finally, Maybank reminds its customers – specifically debit cardholders – that their Apple Pay transactions are also subject to the debit card daily purchase limit, and they should take care to keep this in mind as they spend. The maximum daily purchase limit for Maybank Platinum debit cards is set at RM10,000, while Maybank and MAE debit cards have a maximum limit of RM20,000.

If the cardholders would prefer to use Apple Pay exclusively with their debit cards (for the advantage of no PIN transactions up to their daily purchase limit), they are encouraged to set their contactless transaction limit for the physical card to RM0. This essentially disables the contactless feature of their physical cards.

(Source:
Maybank
)

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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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HLB Introduces HLB Tap On Phone, Turns Android Phones Into Contactless Payment Terminals

(Image: The Malaysian Reserve)

Hong Leong Bank (HLB) has rolled out its new HLB Tap On Phone solution, a contactless mobile payment acceptance service for SMEs and merchants. Launched in partnership with Payments Network Malaysia (PayNet) and powered by Soft Space, the solution enables traders to use their Android mobile devices to accept contactless card payments.

In a statement, HLB said that the HLB Tap On Phone solution leverages on the near-field communication (NFC) technology, and can accept payment from Visa, Mastercard, and MyDebit cards. With this, traders can conveniently conduct payment transactions anytime and anywhere, and are also able to opt out of renting and paying monthly maintenance fees for separate card payment terminals.

At present, HLB Tap On Phone only allows merchants to accept transactions that are below RM250. Like regular credit card transactions, no PIN verification is required for this amount, and merchants can also issue digital receipts via email or SMS to their customers through the solution. However, HLB said that it will soon enable contactless transactions above RM250 (with PIN verifications) as well as QR-based transactions on the solution.

A separate
FAQ document
 further clarified that merchants who wish to use HLB Tap On Phone are advised to first open a current account with HLB for a smooth onboarding journey. Alternatively, you can choose to register as a merchant at any HLB branches. Once done, you’re free to apply for the HLB Tap On Phone solution.

The bank will notify you of your application status and you can then download the app from
Google Play
. Interested parties are required to contact HLB to find out the cost for using the solution.

“We believe Hong Leong Bank Tap On Phone will not only be able to provide customers with a simple, seamless, and secure payment solution that is low-cost and accessible to all types of businesses, but it will also help increase sales as it allows consumers to have more payment options,” said the group managing director and chief executive officer of HLB, Domenic Fuda.

That said, HLB is not the only bank to launch such a payment solution; other banks have also rolled out similar products, such as Maybank’s
Tap2Phone
 and  CIMB’s
Tap n Pay app.

HLB aims to have 10,000 merchants adopt HLB Tap On Phone within a year. Find out more about the
HLB’s new solution
 on the bank’s website. Alternatively, you can contact HLB’s merchant helpdesk at 03-2777 1297 or via
MerchantH’
[email protected]
.

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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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Maybank American Express 15% Cashback Offer

Cashback for Serious Mall Shoppers

We all love going to the Mall, some of us more than others. For most of us it’s a great place to spend an afternoon with friends and family, hangout, eat, buy a few small things; for the serious shopper going to the Mall is like going on a Mission to Spend armed with credit card.

If you fall into the second category and you’re a Maybank American Express customer there’s a new offer out that’s right up your shopping street.

Maybank is offering 15% cashback on all purchases (except supermarkets, hypermarkets and hotels) made in selected Malls with an American Express credit card from 1
st
 December 2012 through to 31
st
 January 2013. Invaluable for your holiday shopping.

The offer is capped at RM300 per month per credit card holder and available in the following Malls:

KL:
 Bangsar Shopping Centre, Bangsar Village I & II, Mid Valley, Pavilion, Suria KLCC, Starhill Shopping Gallery, The Gardens Mall
Selangor
: One Utama, Paradigm Mall, Setia City Mall, Sunway Pyramid, Ikano Power Centre, The Curve
Melaka
: AEON Bandaraya
Penang
: Gurney Plaza, QueensBay Mall
Kuantan
: East Coast Mall
Ipoh
: AEON Station 18
Johor
: Tebrau City Mall
Sabah
: Suria
Sarawak
: Spring Mall

Terms and Conditions Apply

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Things You Won’t Get From a Regular Motor Insurance

Our motor insurance is one of those things we may not be thinking too much about, since we often just take the ones offered by the dealership. Unlike other types of elective insurance like life insurance or medical, we tend not to scrutinise the kind of coverage we get from motor insurance.

What Does Your Basic Motor Insurance Cover You For?

Some people take the unfortunate view that they would rather not get motor insurance at all. but since it’s required by the law, they just get the cheapest option they find without really considering what that might mean for them should an accident happen. Your basic mandatory motor insurance (also known as third party insurance) protects you from having to pay for the damages of another car in the event of an accident. That’s all it does. But you can also get basic riders and plans that protect you a little bit more. Fire & Theft plans can cover you from damages and loss caused by fire and theft, whereas comprehensive plans can cover your own vehicle as well as another car in the event of an accident.

These types of protection are all well and good, but the biggest fear for most of us is what we would do if we ever got involved in an accident. If you or anyone close to you has ever been in an accident, you’d know that it can be quite a shocking and overwhelming experience. Anyone would certainly appreciate more help and there’s plenty to think about besides just paying for damages. That’s why it’s good to look out for value-added services when you choose to buy your Motor Insurance.

As part of their journey to truly put their customers first, to Allianz Malaysia has identified 7 main touchpoints which cause the most problems for their Motor Insurance customers:

Based on those insights, they’ve developed a whole host of services that you just won’t get from a regular motor insurance. It’s called
Allianz Road Rangers
, their nationwide motor accident assistance program. The program is made up of a comprehensive ecosystem of dedicated workers whose job is to assist you through the process of dealing with a motor accident from start to/ finish. With Allianz Road Rangers, you get:

All these added value elements show a truly comprehensive process which takes care of the customer as well as their vehicle. Not only is your car protected, but you also get all the help you need to make things go as smoothly as possible from the moment the accident happens, all the way to getting you home, and getting your car back again from the workshop. The best part of Allianz Road Rangers? It’s free of charge to anyone who has an Allianz Malaysia Motor Comprehensive (Private Car) policy. If you’re not sure, there’s a handy tool to check
here
!

So when you’re looking for motor insurance, remember to keep in mind that not all policies are equal even if they might seem that way. Because coverage isn’t just about the money, it’s also about being cared for and having the peace of mind to focus on the important things in your life instead of worrying about what can go wrong. To find out more about comprehensive insurance,
check out Allianz for protection from A to Z
.

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Hong Kong-Based Investment Banking Firm AMTD Seeks Malaysian Digital Banking Licence

(Image: Imaginechina)

Hong Kong-based investment banking firm AMTD has revealed that they are seeking a digital banking licence in Malaysia. ATMD was established by CK Hutchinson Group, which was founded by Hong Kong business tycoon Li Ka-shing.

AMTD is also bidding for a digital banking licence in Singapore, alongside other contenders like Xiaomi, SP Group, and Funding Societies. In May 2019, AMTD was one of eight successful applicants for the virtual banking licence in Hong Kong.

According to Calvin Choi, CEO of AMTD, the group is looking to spin off a fintech unit which provides a suite of services including virtual banking, insurance broking, digital asset exchange, and payment systems under AMTD Digital. Choi said that AMTD’s goal is to build a comprehensive suite of financial services that are enabled by the right digital licences, as opposed to looking into any one country on a singular basis.

ATMD’s decision to bid for a digital banking licence in Malaysia will pit it against other players like
Axiata Group’s Boost
 and
gaming firm Razer
, which have both openly declared their interest in the
Malaysian licence
.

(Source:
FintechNews Malaysia
)

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Finance Minister: Removal Of i-Sinar Conditions Will Benefit More Malaysians

(Image: The Star)

Finance Minister Tengku Seri Zafrul Aziz said that more Malaysians will be able to benefit from the i-Sinar facility amidst the Covid-19 pandemic following the removal of eligibility conditions for the initiative.

The minister emphasised that the government was always concerned about the people’s welfare and the difficulties that they face during the implementation of the movement control order (MCO). “I am sure this is a very much awaited development. I hope that this i-Sinar facility will, to some extent, reduce the burden faced by the people,” he said in the 43
rd
 LAKSANA report.

Tengku Zafrul also shared that i-Sinar applications made before 25 February will be progressively approved in batches, with
payments being disbursed since 2 March 2021
. These applications involved those that are still awaiting for approval or were previously rejected, prior to the changes that were made to the i-Sinar eligibility criteria.

Briefly, Employees Provident Fund (EPF) members who applied for the i-Sinar facility earlier were initially required to abide by
a set of eligibility criteria
. These criteria were
eventually removed
 in mid-February, allowing all members below the age of 55 to withdraw from their Akaun 1 – subject to their remaining account balance.

Aside from that, Tengku Zafrul noted in his report that
new applications abiding by the new regulations will be open starting from 8 March 2021
. Members will also be given the flexibility to amend their application details – such as the amount applied for, bank information, address, telephone number, and payment mode – via the i-Sinar Online site.

Aside from a summary on the current implementation of the i-Sinar facility, this latest LAKSANA report also contained updates on other initiatives, including the
i-Lestari programme
 and
the Wage Subsidy Programme
.

(Source:
MOF
,
New Straits Times
)

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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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Free Apps That Help You Get the Most Out of Your Ramadhan

We like to mention apps and web services that can help you get more out of your day, your time, and your money. So we thought in this season of fasting, it would be prudent to list down some free mobile apps that can help our Muslim friends get the most out of their religious practices and activities during Ramadhan! All these apps are available for both iOS and Android, but the links and screenshots are all from their Android versions.

Muslim Pro

Seasonally rebranded this time of year as “
Muslim Pro – Ramadan 2016
”, Muslim Pro is the most robust app dedicated to pretty much every aspect of the daily life of practicing Muslims. It has alerts for prayer times, built-in qiblah compass to determine the direction of Mecca, a hijri calendar, a Quran reader, and notifications for special religious days of observances.

This app is free and the best part is that it can be the only app you ever need to install if you ever need your phone to help you with anything related to Islamic practices. Which makes it especially handy for our Muslim friends looking to maximise their deeds.

Bayan Quran

Though Muslim Pro includes a digital version of the Quran already, it’s quite bare bones. If you’re looking for a more comprehensive Quran reader, you can give
Bayan Quran
 a look. It has translations, downloadable recitations, and all of this works via an interface that looks just like the regular paper Quran. Neat.

Available for free, you can use it for daily recitations or just as a reference with its built-in translation capabilities. Tapping and holding each word for single-word translations is also valuable if you’re keen to learn Arabic. While there are
many alternatives
, we think this one takes the cake.

HungryGoWhere

Ramadhan isn’t just the time of year for religious activities, of course. It’s also the time of year where plenty of eateries and restaurants offer fun promotions for buka puasa. This is where HungryGoWhere comes help you by helping you discover, review, and book restaurants, all from your phone.

The filtering feature can help you find special promotions by halal spots and the reviews function can help you find the best places to enjoy your dinner at. Alternatives include
OpenRice
 and
Burpple
.

HappyFresh

If you’re more keen on making your buka puasa an opportunity to polish up your cooking skills in time for Raya, then
HappyFresh
 might be for you. It’s an app that helps you order your groceries and have it delivered at the chosen time, to the chosen place.

You can even have HappyFresh send your groceries to your workplace just as you’re about to leave for home so you have all your ingredients ready to go. Other services that you can use for this include
Be Malas
,
YouBeli
, and
Tesco Online Shopping
.

Make no mistake, the little rectangular pocket computer we carry around and make all our calls from can also help us out in many ways during the Ramadhan season. If you’re keen to look for dining spots that offer special buka puasa promotions, remember to take
a good cash back credit card
 along with you! Don’t forget to cash in your rewards points before they expire!

Do you know any other apps that can help you or your friends get through Ramadhan better? Share your thoughts with us in the comments section down below!

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Ahmad Mudhakkir

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BSN MasterCard Promo: Pizzas at California Pizza Kitchen

California Pizza Kitchen in Fahreinheit 88 together with BSN are giving BSN MasterCard holders a 15% discount on their total bill when dining at the pizza place.

The promotion is valid until 30 June 2013, only for dine-in customers using a BSN MasterCard.

Click the links to get your own BSN MasterCard
Classic
,
Gold
, or
Platinum
. Or go through all the
BSN credit cards at RinggitPlus.com
.

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eSIM is now available from Maxis and XOX

(Source: Kaspersky)

Maxis and XOX now offer support for the eSIM feature, so those who own an eSIM-enabled device can now make use of this option. Your eSIM (embedded SIM) can replace your physical SIM card or be used as a second SIM for phones that have the dual-SIM feature.

(Source: xxsim)

Unlike the conventional SIM that needs to be inserted into your phone, the eSIM is a small chip that has been built into your mobile device. It allows you to activate a cellular plan from your telco provider without having to use a physical SIM card – if your telco provider has the means to support it.

For users, the eSIM provides convenience because you don’t need to deal with the hassle of inserting and removing a physical SIM card from your phone. It also comes with improved connectivity and reliability as it is directly embedded into your device.

To set up the eSIM on your iPhone, go to
Settings
 >
Mobile Data
 and select
Add Data Plan
. Ensure that your iPhone is updated to iOS 12.1 or later. Then, scan the QR code provided. Next, follow the instructions on your screen to activate your eSIM profile and now it is ready to be used.

(Source: MacRumors)

For the time being, Maxis only supports eSIM for iPhone XR, XS, XS Max, and Huawei Watch 2. XOX supports the iPhone XR, iPhone XS, iPhone XS Max, iPad Pro (2018), Google Pixel 3 XL, Google Pixel 3, Google Pixel 2 XL, and Google Pixel 2.

The Maxis offer is open to both new and existing Postpaid and Hotlink Postpaid Flex customers. Existing Maxis customers can walk in to any Maxis outlet to request for an eSIM, although usual replacement SIM charges will apply. If you purchase the new iPhone XS, XS Max or XR from the Maxis Online Store, an eSIM activation kit will be bundled (upon request) together with the device.

Meanwhile, XOX only supports eSIM for new registrations and is still working on an option for existing XOX customers. It offers four plans that you can choose from starting from RM39/month, including a 12GB special eSIM plan offering a free extra 3GB and unlimited calls for RM59/month.

For more information on eSIM and the respective networks, you may go to
Maxis
 or
XOX
 official website.

(Source:
The Star
,
Soya Cincau
)

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Finance Minister: Malaysia Not At Immediate Risk Of A Recession

(Image: Astro Awani)

Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz has reassured that Malaysia is not at immediate risk of a recession, although the government is ready for any eventualities – including a global recession. He also reiterated that all countries in the world should be prepared for such a possibility.

“We have gone through global recessions before this, and we need to be sure that the government and people are also ready for any eventualities. But today, the focus is still very optimistic that the country will continue to record a positive growth this year,” said Tengku Zafrul.

The minister further shared that Malaysia has seen strong preliminary growth in the second quarter of 2022 (2Q22). The reopening of the nation’s economy has also led to the government’s expectation for a full-year expansion in gross domestic product (GDP) in 2022.

(Image: Reuters)

“To date, the data is showing that Malaysia will continue to be on track to see a 5.3% to 6.3% growth this year. We have factored into it the slowdown in the United States economy. Before that, our target was 5.5% to 6.5%. But having said that, things are very fluid. As a trading nation and a small open economy as well, we need to also monitor the growth globally,” said Tengku Zafrul.

According to Tengku Zafrul, Malaysia’s economic recovery this year will likely be underpinned by the positive growth from wholesale and retail, oil and gas, as well as commodities. For instance, Malaysia’s wholesale and retail trade has already set a new sales record in May 2022, growing 19.9% year-on-year to RM129.8 billion. Based on data from the Department of Statistics Malaysia (DOSM), this is the highest sales recorded since 2013.

“We are confident that based on the data we have today, we are on track to achieve the forecasted growth for Malaysia. And this again has been validated by reputable international agencies like S&P Global Rating, which upgraded Malaysia’s outlook rating recently. The International Monetary Fund (IMF) and the World Bank have also validated our growth figures,” said Tengku Zafrul.

(Image: Reuters)

In May, IMF said that Malaysia’s economy would expand by 5.75% this year, spurred on by pent-up domestic demand and strong external demand. The following month, World Bank also shared that Malaysia’s economic growth could hit 5.5% in 2022.

Meanwhile, the managing director of the IMF, Kristalina Georgieva had also noted that a global recession could be possible next year given the ongoing elevated risks. As such, the fund will be updating its forecast for the global economic growth of 2022 and 2023, and is set to release the new figures later this month. Back in April, IMF said that
global growth is projected to slow from 6.1% in 2021 to 3.6% in 2022 and 2023
.

(Sources:
New Straits Times
,
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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6 Ways to Get Financing Even With Bad Credit

Having a red mark on your credit report will make it very difficult to secure financing from banks and other financial institutions. Still, there are other cash sources you may access even with undesirable credit.

Here are six different ways to get the money you need, safely and legally:

1. Micro Financing

If you need to get your small business off the ground,
microfinancing
 could help. These mini-loans, typically in the amount of RM1,000 to RM50,000 (loan tenure of one to ten years), are provided for business purposes to those who wouldn’t necessarily qualify for a traditional business loan.

What’s great about microfinancing is that even those with poor credit and lower income can make an application; however, their businesses would need to be defined as a
micro enterprise
 to be eligible.

2. Supplementary Credit Cards

Even though you might not qualify for a credit card with a low credit rating, a relative or friend with good credit (and a primary credit card) can help you out with a supplementary card.

Since the credit limits on both cards are shared, the primary cardholder might assign a lower maximum on the supplementary card – thus, your access to funds may not necessarily be substantial. Still, it should help while you sort out your own finances.

3. Money from Life Insurance Policies

If you have a life insurance policy with a cash value built (e.g. investment-linked, endowment or whole life policy), you may extract money from it when in need. However, full withdrawal typically means that you are cancelling your policy and your insurance protection will cease. Some policies give you the option to withdraw a portion and still maintain your coverage.

Another option is to take out a loan on your policy’s cash value, where interest rates average 7% to 8% per annum. These types of loans usually do not take into account the borrower’s credit rating. But note that your policy may self-terminate if your premiums and loan interests accrue beyond the cash value remaining.

4. Employees Provident Fund (EPF)

Pulling money out of your EPF account comes with quite a bit restriction especially if you are not of age to make withdrawals. You may withdraw to pay for medical costs, reduce or redeem your housing loan balance, to perform hajj and for your education, among others.

However, you can’t withdraw for personal reasons. Plus, you’ll also need to consider if your need for funds outweigh thinning your retirement savings.

5. Find A Co-signer For A loan

With bad credit, the odds of obtaining a bank loan are rather low– and even if you do, your financing rate is likely to be on the high side. However, with the help of a co-signer, who takes on the responsibility to repay your loan in case of default, you’ll improve your chances of having a loan approved.

Getting someone of good credit to co-sign a loan with you might be tricky because it is a serious and burdensome undertaking for the co-signer.

6. Company Loan

Certain employers offer financing options to their employees for housing and car purchase, education and even personal reasons. Now whether or not they check your credit remains the prerogative of the company.

Often times, loans extended by employers will charge lower interests or none at all, which is good news for someone with financial troubles. Repayments are typically deducted directly from your salary, also a good thing, since you won’t have to monitor payments.

Now you know how to find money even with unattractive credit! But your current financial image does not have to remain sullied forever, so if you aren’t happy with your credit, you can definitely do something about it. To start improving your grade, check out our article on
boosting credit scores
.

Have anything to add to this article? Do share your thoughts with us in the comments section down below!

Image credits:
Asia First

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Malaysia Signs Tax Compliance Agreement With US To Share Info On Tax Evaders

Malaysia has signed a tax compliance agreement with the United States, joining 113 countries in implementing the Foreign Account Tax Compliance Act (FATCA). FATCA is an initiative by the US aimed at facilitating the exchange of information on tax matters, especially on US citizens.

The Ministry of Finance Malaysia revealed that the enactment of FACTA came following the conclusion of an intergovernmental agreement signed on 21 July. The signing of the agreement between treasury secretary-general Datuk Asri Hamidon and US ambassador Brian McFeeters took place virtually in the presence of Deputy Finance Minister II Mohd Shahar Abdullah.

According to Shahar, the recent developments in the international tax system, significant improvement on transparency, and exchange of tax information practices between jurisdictions mean that countries are now moving towards greater collaboration. This is especially in the case of addressing tax evasion and tax avoidance.

(Image: FMT)

Meanwhile, McFeeters said that the implementation of FATCA was one of the historic moments in Malaysia-US bilateral relations. He also expressed appreciation for the efforts in the compliance aspect made by Malaysian banking institutions, which demonstrate excellence as world-class institutions.

“The conclusion of this agreement shows the close relationship that has long been established between the two countries,” the finance ministry said in its statement. The ministry also added that the agreement would pave way to a more comprehensive bilateral tax agreement which would further benefit the taxpayers of Malaysia and the US.

(Source:
The Star
,
Malay Mail
)

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Should You Take Out a Personal Loan for Your Business?

Getting money for your business is hardly ever an easy task but it needs to be done in order for your venture to survive and thrive. If you had to choose between a personal or business loan to support your activities, which do you think would provide the cheapest, most convenient access to cash for your company?

To help you understand the finer points of these loan types and their appropriateness for your specific business, here’s a list of pros and cons.

The Pros of Taking out A Personal Loan for Your Business

1. Easier to Apply

The process for getting a personal loan is relatively simpler, faster and with fewer documentation requirements than a business loan. All you typically need is your identification, bank statements, EPF or tax form. Whether you are looking for an
AmBank personal loan
, a
Bank Islam personal loan
, or even a
personal loan HSBC
, the process is almost always the same.

2. Fast Approval

These days, personal loans can be approved in a matter of minutes – which in other words, equals an on-the-spot approval. This is of course invaluable to people who require fast cash for their business. Still, we’ll note that some business loans can also move quickly to expedite the process.

3. Ideal for Start-ups

New businesses, sole proprietors and start-ups would have an easier time applying. Moreover, for many business loans, expect companies to already be in operation for at least a year or two to be eligible.

So that’s the positive side of getting an
easy personal loan
 for your business. But now, let’s consider the possible drawbacks for this type of financing.

The Potential Cons of Taking out A Personal Loan for Your Business

1. Higher interest rates

The rates for personal loans have a rather wide range from as low as 3.26%, typically for government workers and low-incomes earners all the way up to 18% to 24% per annum. The average for a basic personal loan is 6% to 8%. Higher rates are usually applied to quick disbursement loans whereas lower rates may be offered larger loans.

2. Limit on Financing amount

If you do need a sum larger than RM150, 000 to RM200, 000, it’s unlikely that you’ll find it easily with a personal loan. For such large sums, you might need to opt for a business loan or perhaps even property refinancing (if you own property).

Now you know all about the benefits and downsides of taking out a personal loan for your business, but what about the potential upsides and disadvantages of business loans?

The Pros of Getting a Business Loan

1. Better Interest rates

The average rate for business loans is just 5%, which could mean rather significant savings on interest costs, especially if you are intending to borrow a larger sum. However, not all applicants will be guaranteed a low rate as the strength of company’s financials will determine the rates you receive.

2. May provide revolving credit or overdraft facilities

A revolving credit facility is a contract that allows the borrower to borrow, repay, and redraw a loan until the contract is over. This type of flexible financing can help financially support companies until their debtors pay up. Similarly, an overdraft facility allows a business to withdraw money on credit to meet their short-term cash needs such as paying vendors, staff or even buying supplies.

3. Government Assistance Scheme

For small-to-medium enterprises that lack the necessary collateral to get approved for financing, the
Government Assistance Scheme
 could help guarantee a portion of the loan. This would mean a higher amount of financing at affordable rates for eligible companies.

The Possible Cons of a Business Loan

1. Not all business types are eligible to apply

There are certainly limitations and restrictions to some business loans. Your loan might be tied to the nature of your business, sectors and financing purpose. You might not be eligible to apply for a basic business loan if you want to build an investment business or buy property for flipping.

2. May require collateral

Although no-collateral business loans do exist, most require some sort of pledge especially for large loans and ones with smaller interest rates attached. There is of course a risk whenever you promise collateral like your house, car or fixed deposit account; you could end up losing it if you default on your loan.

3. Shorter Tenure

With shorter tenures, averaging five to seven years, you might be stuck with larger, more expensive repayments. You may also be forced to borrow a smaller amount if you already have other financial commitments or if you are stretched with current debts.

So Which Type of Loan Should You Take?

While we can’t make this decision for you, here are a few handy pointers to help you decide:

Consider a business loan if:

a) Your business has already been in operation for a number of years.

b) You can wait a reasonable amount of time to receive your funds.

c) You need to borrow a larger amount of money.

On the other hand, you might be better off with a personal loan if:

a) You are just starting out.

b) You’re not looking to borrow a huge sum of money.

c) You need cash fast.

d) You don’t want to go through the hassle of applying for a business loan.

Need help finding an affordable personal loan for your business venture? Then check out our
comparison page
 to research as much as you need to find a personal loan that’s just right for your business!

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Explore Virtual Scholarship Fair For Your Ideal Institution With Up To 1 Billion Scholarships Offered

Dear students and parents, the current Covid-19 pandemic may have brought challenges to you, or your children’s quest to pursue further education. More so for those of you who are looking to further your studies abroad. With health and safety issues in mind, the future of travelling abroad is still uncertain, what’s more when it comes to studying abroad.

Nonetheless, you will be glad to know that while the fight against the pandemic is still ongoing, you can still continue to pursue your dream to study in your dream institutions or destinations – be it locally or internationally, with
Scholarship2u’s Virtual Scholarship Fair (VSF) 2020.

VSF, as its name suggests, aims to simplify your scholarship application process in a safe, virtual environment. Eventhough online, VSF offers you a wholesome fair experience where you get to browse for potential schools and universities, check out programmes that you’re interested in and ask questions to participating schools and universities – just like what you would experience in a physical fair, only more convenient without the physical crowd.

Save The Date This 10.10.20!

Happening this coming 10-11 October 2020, VSF doesn’t only bring you its virtual convenience, but also connects you with hundreds of local and international institutions offering an array of programmes for different education levels from A-Level, Foundation, Pre-U, Undergraduate to Postgraduate.

Besides that, there will also be
scholarships worth up to 1 billion
 up for application to help ease your financial burden, especially if you are aiming to study abroad. Among participating countries you can expect in VSF are the UK, USA, Switzerland, Spain and more. So, save the date, and get all your documents ready for the big day!

Get Matched To Potential Institutions & Scholarships With Just 1 Instant Application

By bringing its large size of participating institutions from local and international countries to you, online – VSF takes you 1 step forward in your quest for further education.

But that’s not all as VSF also employs an
innovative scholarships-to-student’s matching system
 that would automatically recommend you available scholarships based on your search interest. All it takes is just one-time, online submission of all your results and necessary documents.

This allows you to skip tedious repetitive preparation as you would usually do by having to prepare a set of documents for each and every institution/scholarship you are applying for. Furthermore, this efficient matching process also saves you from being overwhelmed by an array of information and options that you may not need when applying manually.

Note:
Since many of VSF’s participating international institutions come from different countries with differing time zones, VSF will keep its virtual door open until 11 October 2020 (Sunday). You are encouraged to submit your application through VSF on the 10 October 2020 (Saturday) itself or
start creating your free student profiles now, here
 as we edge closer to the fair so that all your documents are lined up and ready to go on D-day.

Now that you know how VSF can help get you closer to your dream of pursuing an education in your dream country, let’s walk through VSF’s brief processes to help ease your application process on the event’s day:

Enjoy FREE Scholarship Benchmark Testing When You Refer 5 Friends

Before you can submit your scholarship application to VSF, you are required to register and create your full student profile with VSF. Once done, you can virtually
roam
 around VSF to discover all the participating institutions, just like you would in a physical fair. Take a moment to watch live video feed, browse virtual booths or participate in a live video chat by your preferred institutions.

Besides that, when you refer 5 friends to VSF, you will receive a complimentary
Scholarship Benchmark Testing
(normal price USD30, or est. RM124). The Scholarship Benchmark Testing is one of the eligibility criteria in effort to match you to the right scholarships according to your interest, fortes and examination results.

That’s not all, as every registered participant will also receive a complimentary E-Book, ‘Winning Your Dream Scholarship’ (worth US$50, or est. RM207).

Gain Valuable Insights From Guest Speakers

At VSF, you’d also get to learn and gain valuable insights from representatives of participating local and international institutions for relevant tips and updates on the ever-changing education landscape.

Listen to VSF’s guest speakers as they deliver their keynote on engaging topics in various fields such as
“How To Ace Your Scholarship Interview”
,
“Want To Be A Master Chef?
”, and
“Beyond STEAM: Science, Technology, Engineering, Arts, and Mathematics.”

Whether you are currently seeking for your next step in education or opportunities to study abroad in your dream destination, Scholarships2u’s Virtual Scholarships Fair 2020 aims to make it happen for you even during these unprecedented times.
Register your attendance to Scholarships2u Virtual Scholarship Fair 2020 for free today,
 and explore your ideal institution, with the right scholarships soon!

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What Is ESG Investing And How To Start On It With OCBC Bank

In recent times, conscious consumerism and planet-friendly practices have garnered global attention. Many businesses are driving sustainability and carbon-zero efforts to ensure they reduce negative impact on the communities and the environment because, whether we like it or not, these may potentially contribute towards environmental, social, and governance (ESG) issues.

This has also led to greater interest in ESG – not just among investors, but also policymakers and key stakeholders. As the world continues to face climate change and worsening pollution amidst other environmental issues, many of us strive to play our part in protecting the planet by reducing our carbon footprint.

What Is ESG Investing?

Environmental, Social and Governance (ESG) criteria is used to benchmark the ethical conduct of companies and countries, and their ability to positively impact the environment and community that we live in, for a more sustainable and socially responsible future.

ESG Investing operates within a set of standards that prioritises optimal environmental, social, and governance factors or outcomes. It is often regarded as a method of investing sustainably because considerations for the environment, human well-being, and the economy must be made.

The environmental criteria assess how a corporation protects the environment through practices like corporate policy addressing climate change. Matters such as waste, pollution, carbon footprint, and contribution of toxic chemicals must be considered.

The social criteria consider how the company maintains connections with its employees, suppliers, consumers, and the communities in which it operates. Subjects like racial diversity, inclusivity, and employees’ health and safety fall in this category. It goes so far as to include how businesses advocate social good and human rights.

The governance criteria observe how the company’s board and management drive positive change. Matters such as executive pay, diversity in leadership, and how well the leadership responds to and interacts with shareholders are among the factors covered in the area of governance.

Build A Sustainable Foundation for the Future with OCBC

Although profit still plays a large role in what drives business decisions, OCBC believes that the impact of the decisions made today will greatly affect the future of the world, society, environment and ecosystems. In driving change for a better tomorrow, OCBC provides various ESG solutions that align with sustainability.

ESG Investing Solutions

A common misconception in the sustainability journey is that returns are necessarily compromised when investing in ESG-integrated investments. In reality, all risks and returns need to be analysed as with any other investment.

With ESG investing, individuals and businesses are motivated to pursue the best corporate and management practices while also seeing to the social well-being of the community and the conservation and preservation of the environment. When these factors are equally considered, they can result in favourable long-term financial success based on the performance of the investment.

Below are two ESG-integrated investments offered by OCBC:

Unit Trust
s

– Portfolios of equities and/or bonds for which environmental, social and governance factors have been integrated into the investment process. Trained and experienced fund managers will professionally and actively manage your investment. This is also a popular method commonly adopted to diversify one’s portfolio.

Treasury Products –
 A low-risk investment solution linked to sustainable companies or outcomes.

ESG Financing Solutions

In driving their commitment toward green financing alongside other ESG initiatives, OCBC Bank works in partnership with solar panel providers to encourage the use of renewable energy. This solution allows for a seamless integration of sustainable practices for households and businesses while also providing a means to cut back on electricity bills and consumption.

OCBC offers a variety of ESG financing solutions, such as Solar Panel Financing, an option offered to eligible OCBC customers with a home loan/financing. Customers can choose to top-up or refinance their loans or financing for solar panel installations.

Alternatively, existing OCBC credit cardmembers can opt for 0% Instalment Payment Plan (IPP) or Easy Payment Plan (EPP) if they wish to install solar panels.

***

As ESG continues to garner attention from investors, ministries, businesses, and the public, it is evident that people are interested in kinder, better practices towards communities, the environment

and within an organisation.

Investors can potentially gain attractive returns on their investment, depending on its performance in the market. Besides that, embracing ESG investing means investors are playing a role in helping the environment, supporting ethical companies and good governance, and making a positive social impact on unfairly treated communities.

Visit the website
 to learn how you can begin your journey in ESG investing and financing with OCBC.

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Lisa Ameera Azman

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What Will Malaysians Be Doing on Christmas Day?

Christmas Day is just a few hours away, so what will you all be doing? Are any of these activities (or all of them!) on your list?

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Diana Chai

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Maybank Enables Recurring Payment Feature For EPF Self-Contributions

Maybank has enabled a new feature that allows its individual and sole proprietor accountholders to set up automatic recurring self-contributions to the Employees Provident Fund (EPF) on a monthly basis.

In its notice, the bank said that the new recurring EPF contribution feature is currently accessible only on the Maybank2u website, but will soon be made available on the MAE by Maybank2u app in the future.

Meanwhile, those who wish to set up automatic recurring EPF contributions now can do so by following these steps after logging into their Maybank2u account on the bank’s website:

Step 1
: Click on “Pay” under the Payment tab, and select to pay to “Payee”.
Step 2
: Under the “Payee” bar, key in EPF as the name of the payee. You can then select it from the dropdown menu.
Step 3
: Fill in your personal details as required, and switch on “Set Recurring”.
Step 4
: Click on “Pay”, authorise the transaction via Secure2u, and you’re set!

Maybank has also shared some screenshots of the process to guide you along the way:

The feature has already been made live, and you can tap into it at any time that is convenient to you. With this, it will be easier for EPF members who are self-employed or do not earn a regular income to make voluntary contributions towards their retirement (under the i-Saraan scheme). To note, Finance Minister Tengku Datuk Seri Zafrul recently noted that the number of voluntary contributors under the i-Saraan scheme has
risen by 77% in the first quarter of 2022
.

(Source:
Maybank
)

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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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Inspirational TED talks on Money

It’s the new year and you may be thinking about getting your finances in order or to make a life-changing decision involving money. These are some inspirational TEDtalks about money to give you something to think about.

1. Sell your Crap – Pay your Debt – Adam Baker

Adam Baker talks about cleaning the financial slate; starting over and following your dreams. Such a move can only be done when you achieve some amount of financial freedom. Admittedly, it is not the route for everyone but if this is for you; if this is your dream too; you want to listen to what Adam has to impart.

2. Saving for Tomorrow, Tomorrow – Schlomo Benartzi

Everyone knows saving is important but so many put it off to another day. Schlomo talks about how behavioral ticks prevent people from saving. If you find you have the tendency to neglect your savings today; always promising to do so tomorrow; this TED talk may be what you need to hear.

3. The Moneyless Man – Mark Boyle

If you frequently read viral news tending on social sites, you may have already heard of Mark Boyle: the man who lives without money. It’s not easy, it’s not recommended for everyone but it’s a refreshing look at what we believe is integral in our lives. Mark also makes use of the age-old survival tactic of bartering. We’re not saying you should run out and throw all your money away – but Mark’s story is interesting nonetheless. What was once deemed impossible in this current day and age, has been done. Food for thought at the very least.

These talks are all about money, sound very different on the surface but all seem to have a similar thread – spending a lot of money doesn’t necessarily equate happiness; in many occasions it costs the opposite and no matter how you’d like to live your life, how you manage your money will play a big role on how many of your dreams you achieve.

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Setel's One-Tap Fuelling Feature To Offer A More Seamless Refuelling Experience

Petronas-owned e-payment app Setel has introduced a new One-Tap Fuelling feature to improve its users’ refuelling experience. As hinted by its name, Setel users can now activate a fuel pump at over 1,000 Petronas stations with just one tap once they park their car at a petrol bay – as opposed to the lengthier process of five taps within the app at present.

According to Setel’s website, users who enable this feature will only need to tap on the correct pump number to activate the pump upon arriving at the petrol station. After that, you can immediately proceed to refuel your vehicles based on a pre-authorised amount for petrol payment that you have set within your Setel app, and earn Mesra points instantly. The payment for your fuel, meanwhile, will be deducted from either your Setel wallet or SmartPay.

Of course, before you can enjoy this one-tap convenience at a Petronas station, you’ll need to go through some setup processes first. You can enable the One-Tap Fuelling feature simply by following these steps:

Fire up your Setel app and tap on “More” (bottom right corner)

Select “Preferences” under the “Settings” section

Enable “One-Tap Fuelling”

Select a pre-authorised amount and payment method for your future refuelling sessions, save your preferences, and you’re done!

Setel also explained that if the actual refuel amount during a session is less than the pre-authorised amount, you will first be charged the pre-set amount. Subsequently, the additional amount paid will later be refunded to you within one day.

Additionally, Setel’s
Deliver2Me feature
 – which lets you purchase and receive products from Mesra stores in the comfort of your vehicles – is currently not supported by the One-Tap Fuelling feature. There are, however, plans to bring them together soon.

Other upcoming enhancements that Setel also hopes to bring to One-Tap Fuelling include the ability to pre-set users’ preferred fuelling amount by litres or tank size, as well as introduce other payment methods (such as
CardTerus
 for debit or credit card payments). It also wants to add
Setel Share
 – a feature that lets you share your Setel Wallet or CardTerus with friends and families – and enable One-Tap Fuelling on Apple Watch.

Currently, the One-Tap Fuelling feature has been made available to only 1,000 Setel users across the country, with other users set to gradually gain access to it in the next two months. If you’re excited and would like to receive early-bird access to the feature, however, you may opt in by posting a social media post (“
I want One-Tap Fuelling now
” on Instagram Story or Twitter, tagging @setel with the hashtag #SetelOneTapFuelling).

Setel is also celebrating the launch of One-Tap Fuelling with a campaign that gives users the chance to win a limited edition Setel gift box when they upload creative videos of their experience using the new feature.

Meanwhile, Shell customers, too, are able to enjoy a similarly seamless refuelling experience via the
RFID Fuelling function
. Officially launched in August 2022 via the partnership between Touch ‘n Go (TNG) Group and Shell Malaysia, it lets you refuel with the payment automatically deducted from your TNG eWallet (which is linked to your TNG RFID tag). However, this service is currently available only at selected Shell petrol stations.

(Source:
Setel
)

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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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Get More Out of Your Property with Alliance One Account

Suppose you own a property you have been servicing for a few years and you’ve been earning some rental income from it. The rent helps with the monthly instalments, the location is great for future appreciation, but you still feel that maybe you can get more from the property. After all, it is worth a lot. Short of selling it off, what more can you get out of your property?

What if we tell you that there’s a way for you to maximise the positive value of your property not just to get extra cash, but to also potentially reduce your monthly commitments?

Alliance One Account is one way you can do this. By taking advantage of your property’s value, this account gives you the option of having extra cash through an overdraft facility.

What Is An Overdraft Facility?

An overdraft facility is a form of revolving credit, where you can borrow from the same account that you’re paying off (up to a limit) so you can get extra cash.

This means you can write cheques or withdraw cash from the account up to the overdraft limit approved. Alliance One Account anchors your property to the loan, so your approved overdraft amount will depend on the value of your property.

What Can You Do With an Overdraft Facility?

Want some extra cash to help with your business?

An overdraft can be super useful if you need a sizable amount of cash in hand, for example, for your business expansion purposes. This can be extremely helpful especially if you’re just starting out.

Looking for financing to build capital for a new company can be difficult, and servicing a fixed amount every month for the loan might not be something you want to burden yourself with, on top of the headache of running your operation.

With a flexible credit facility on stand-by such as an overdraft facility, you are free to access it whenever you need some extra cash.

The Alliance One Account’s overdraft facility also provides the flexibility for you to pay the minimum interest amount charged only based on the amount you use.

If your company is generating healthy returns after using the overdraft, you can also opt to pay off the amount used in full to reduce interest cost. Your repayment is entirely up to you!

Now, you don’t have to lose out on good investment opportunities anymore!

With an overdraft, you can also take advantage of investment opportunities as and when you hear about them.

Investing your money is one of the best ways to accrue passive income. An overdraft facility allows you to gain access to quick funds for investment opportunities so you do not need to dip into your savings or take a new loan.

Get More From Your Property

To apply for the
Alliance One Account
, you need to have an existing residential property or commercial property. When you consolidate your home loan or commercial property loan and other loans with
Alliance One Account
, you need only to pay ONE loan at a low interest rate.

To find out how much you can save with Alliance One Account, please visit alliancebank.com.my, drop by any of our nearest branches, or get in touch with our Contact Centre at 03-5516 9988.

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How to Know if Your Office is Full of Jerks

When we say “jerks”, we don’t mean the people in the office who act a little weird or is a bit obnoxious. People often mean well and personality quirks are not wrong to have. What we mean when we say “jerk” here, is downright unprofessional workplace behaviour that can reduce productivity, and ultimately ruin your efficiency in the office.

At best, these kinds of behaviours can result in lowered morale or an unwelcome work environment, and at worst, they can amount to harassment or lead to a dismissal. Those people could include you too, of course. You may not be aware that your behaviour is unprofessional – which might warrant a meeting with human resources. Read on to see if your workplace demeanor is up to snuff, or if you actually need some lessons in professional conduct.

Intimidation or Bullying

We all have our daily duties and responsibilities in our workplace, and getting them done should be our priority. But while your superiors are in a position to assign tasks to you, this does not mean they can bully you into doing so.

What’s the difference? Whenever you have good reason to say no to something but are forcefully coerced, intimidated, or threatened to do it anyway, that’s bullying. Phrases like “Do this or you’re fired”, physically stopping you from doing things, or verbally accosting you in front of others also count as bullying. Should this be happening in the office to you or a co-worker, be ready to either file a strong complaint to the HR or jump ship to a better company – whichever helps your mental health the most.

Sexual Harassment

Affectionate teasing and banter is a natural by-product of spending lots of time with others. It’s part of building rapport and a way to bond with people which helps foster good teamwork. However, there may be times when your co-worker might get a little too close for your liking.

Lewd comments, sexual come-ons, or any actions or words that make you uncomfortable would fall under unprofessional conduct. Sexism and discriminatory practices in the workplace are unfortunately not uncommon in Malaysia. Even worse, there is currently
no Malaysian law that criminalises sexual harassment
. What we recommend you do should you encounter this type of behaviour, is the same as the previous misconduct, a strong complaint to HR or
another position in a different company
.

Read also:

6 Cool Work Benefits Your Job Probably Doesn’t Have

Abusive Language

The pressures of work get to everyone sometimes, and blowing off steam with some strong language expressed
privately
 can be a good way to recalibrate our emotional compass. Nonetheless, should this language be used on or heard in the workplace in the wrong context, it can surely count as unprofessional behaviour. Even if you think the words you use are not vulgar or offensive, the intent, context, and reaction they get are the real factors in determining whether or not you’re being abusive.

Generally speaking, if people can’t react comfortably or feel safe in the office after what someone said, it might be some abusive talk. This includes name-calling, insulting, yelling, threats, or other unsettling language. For hot-headed people who fly off the handle too easily, the best way is to ignore them until they cool down before re-engaging them in a professional manner. If this is too much for you to deal with and is interfering with your work, escalating the matter to your HR department would be the next step.

Frequently Missing Deadlines

Nobody’s perfect and sometimes things happen beyond our control, but if someone consistently misses their deadlines, it’s a sign of something more deliberate than pure chance.

Depending on the field of industry, missing deadlines can range from mildly annoying, to catastrophic. Missing deadlines regularly however is a sign of either extremely poor time management, or a crippling lack of care in their work. In either case, this problematic behaviour is something your HR department would already be keeping close attention to and you may not be seeing these people in the office too often if it keeps up.

Passing Blame

In a workplace with plenty of departments and moving parts it can be difficult to ascertain what went wrong if something goes off the rails. In moments like these, it’s important to find out the problem, and work together to fix it. What doesn’t help, is when people spend too much time blaming others. Passing on the blame is the kind of behaviour that signals an unwillingness to accept responsibilities. This isn’t just bad for their performance, but also means they can’t be reliably counted on to help carry their weight in the workplace.

Worse still, consistently passing the buck means they are more interested in appearing guilt-free rather than focusing on fixing the problem. This kind of person is best avoided and if possible, try not to work with them on tasks that require plenty of teamwork. Like the other unprofessional behaviours mentioned above, if this one affects your work negatively too often, get the HR department involved.

Of course, there might be other types of behaviours that also hamper your productivity and make for an unwelcome workplace, but these are the most common ones you should pay attention to and try your best to avoid. Work is where most of us spend our time and it’s only fair to yourself to make that time as pleasant as possible. If you’re looking for some side income to bolster your earnings, check out
our article on how to do that with your hobbies
. Have anything to add to this article? Do share your thoughts and ideas with us in the comments section down below!

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Ahmad Mudhakkir

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