Malaysia Online Food Delivery Services You Can Order From This MCO

Food delivery services have seen an increase in popularity lately, largely because of the ongoing movement control order (MCO) due to the Covid-19 pandemic. While you may have already found yourself ordering from Grab or foodpanda lately, there are also other food delivery services in Malaysia that you can give a try as you #stayathome this MCO period.

Here are some of the local food delivery services you can order from, together with details on a few ongoing promos so that you can save some money while you’re at it.

Beep Delivery

Launched by point-of-sale system StoreHub just 48 hours after the announcement of the MCO,
Beep Delivery
 is a food delivery feature integrated within the StoreHub ecosystem. According to StoreHub, Beep is aimed at helping small F&B operators survive the challenging times and only takes a small commission from merchants compared to major food delivery partners (2% per transaction).

Customers can browse through the participating F&B merchants from all over Malaysia including Kuala Lumpur, Selangor, Johor, Penang, Sarawak, and other states. You can choose between a variety of payment options: online banking, debit/credit card, and even e-wallets such as GrabPay, Touch ’n Go (TNG) eWallet, Boost, and GCash.

Available promos for Beep Delivery

RM3 cashback
 with a minimum spend of RM20 using TNG eWallet between 23 April – 8 May 2020

DeliverEat

First founded in 2012 in Penang,
DeliverEat
 has since branched out to provide food delivery services in Kuala Lumpur as well, with a wide variety of cuisine choices including restaurants like Nando’s, Tealive, Dragon-i, Madam Kwan’s, and Chilli’s.

You can place your orders on the DeliverEat website or mobile app, and make payment using cash on delivery, online payments, Visa and Mastercard credit cards, or the TNG eWallet. DeliverEat also has a rewards programme where users can accumulate membership points with every delivery order and redeem these points for cash vouchers.

Available promos for DeliverEat

RM5 off
 with promo code RAMADAN with a minimum spend of RM10 using TNG eWallet between 20 April – 23 May 2020

Free delivery
 with a minimum spend of RM15 using TNG eWallet between 20 April – 23 May 2020

50% cashback
 with RM50 minimum spend using
Standard Chartered P
riority Banking
 cards until 30 June 2020

30% cashback
 with RM50 minimum spend using
Standard Chartered credit cards
 until 30 June 2020

foodpanda

With a merchant-partner base to rival GrabFood’s,
foodpanda
 is another established food delivery service that offers its customers a wide variety of choice. You can make your order via the foodpanda website or mobile app, and make payment via cash on delivery, credit/debit card, or online banking. While foodpanda doesn’t have an established loyalty programme like GrabFood, it does offer
discount vouchers
 and
free delivery deals
 on the regular.

foodpanda delivers to the Klang Valley area and numerous cities in Penang, Johor, Melaka, Sabah, Sarawak, Kedah, Kelantan, Perak, Pahang, Negeri Sembilan, and Perlis.

Available promos for foodpanda

60% off morning food orders made between 9-11am with promo code JOMBREAKFAST valid until 15 May 2020

40% off teatime orders made between 2-5pm with promo code JOMTEATIME valid until 15 May 2020

25% off dinner orders made between 6-8pm with promo code JOMDINNER valid until 15 May 2020

GrabFood

Accessible within the popular Grab lifestyle app,
GrabFood
 is one of Malaysia’s most popular food delivery services. GrabFood delivers a wide range of cuisine from various merchant-partners and accepts convenient payment methods such as debit/credit cards, PayPal, Maybank2u, and of coursethe GrabPay e-wallet. In addition to offering promo codes and discounts, you can earn GrabRewards points when using GrabFood – which you can use to redeem vouchers, gift cards, and so on.

GrabFood is available in Klang Valley, Johor Bahru, Melaka, Penang, Kota Kinabalu, Kuching, Kota Bharu, Kuala Terengganu, Kuantan, Miri, Bintulu, Negeri Sembilan, Batu Pahat, Muar, Alor Setar, Sungai Petani, Langkawi, Ipoh, and Taiping.

Available promos for GrabFood

Free delivery for Grab e-Kitchen when you link your Maybank2u account to your GrabPay e-wallet from 24 April – 23 May 2020

RM5 GrabFood voucher
 when you use selected
Standard Chartered
 credit cards to pay for a minimum of RM25 on GrabFood until 30 June 2020

RM10 Grab merchant voucher
 when you make a minimum top up of RM100 to GrabPay with selected
Standard Chartered
 credit cards until 30 June 2020

RM5 cashback
 for every third Grab transaction (minimum RM20) in a month using a
UOB
 Visa credit card until 31 May 2020

Hungry

Hungry
 is a lesser-known food delivery app that allows you to order food and drinks, fruits, flowers, and even supermarket goods. Its merchant marketplace features restaurants like TGI Fridays, Din Tai Fung, and – wait for it – even famed hotpot giant Hai Di Lao.

You have a variety of online payment methods to choose from – the TNG eWallet, WeChat Pay, Boost, Alipay, GrabPay, PrestoPay, and Visa and Mastercard. However, a quick look at the reviews of the app on both the App Store and Google Play will hint that the user experience could do with some improvement, so be prepared to be patient if you’re giving Hungry a try for the first time.

Available promos for Hungry

50% cashback
 with RM50 minimum spend using
Standard Chartered P
riority Banking
 cards until 30 June 2020

30% cashback
 with RM50 minimum spend using
Standard Chartered credit cards
 until 30 June 2020

RM5 cashback
 per order paid via PrestoPay capped at 1 transaction per month valid until June 2020

Running Man

Touting itself as “the most affordable food delivery in Malaysia”,
Running Man
 is a food delivery service that focuses more on the local hawker stall scene rather than big-name restaurants. Delivery fees start from as low as RM1 and its popular delivery locations include Kuala Lumpur, Setapak, Cheras, Bangsar, Ampang, and Petaling Jaya.

Running Man is accessible on both its mobile app and desktop and you can pay using PayPal, Mastercard, Maestro, Stripe, and even Bitcoin. However, just like with Hungry, the app has less than glowing reviews on the App Store and Google Play, but you can always opt to place your order through its website instead.

Maybank Sama-Sama Lokal

In response to local hawkers facing financial difficulties during MCO,
Maybank launched its own online food delivery platform
 to allow small businesses to gain visibility. Furthermore, Maybank is also absorbing the delivery charges for up to 10km distance in selected areas. Beyond that distance, you will be charged RM1 per km for delivery fees, payable directly to the delivery partner upon receipt of your food.

The
Sama-Sama Lokal
 platform allows you to browse through online listings for food and then contact the hawker directly through WhatsApp to place your order. Payment is made through instant transfer to the hawker via online banking or Maybank QRPay. And no, you don’t have to be a Maybank customer to use Sama-Sama Lokal.

Available promos for Maybank Sama-Sama Lokal

Free delivery up to 10km distance in selected areas

BungkusIt

Strictly speaking,
BungkusIt
 isn’t so much a food delivery service as an on-demand delivery assistance that allows you to hire runners for various errands – from collecting parcels to shopping for item and ordering food.

Therefore, you can use the BungkusIt mobile app to get someone to buy food and deliver it to you, or you could check out some of BungkusIt’s F&B partnerships since the start of the MCO – for instance,
BungkusIt’s partnership with IKEA
 to provide food delivery for IKEA’s restaurant. While the experience may not be as seamless as other food delivery-focused platforms, you can keep this service in mind in case you need to rely on BungkusIt for other errands as well.

Available promos for BungkusIt

15% discount
 on all IKEA Food delivery via BungkusIt

dahmakan

So far, we’ve listed platforms that offer food delivery services from a variety of merchant-partners – so now let’s move on to the types of single-brand food delivery services that prepare and deliver just their own food. One such service is
dahmakan
, which delivers in the Klang Valley and offers a menu comprising of Asian, Western, and fusion cuisine priced within the RM13 – RM36 range. It is available on web and mobile app.

You pick the available delivery slot that suits you and your food will be delivered during that hour. Delivery is free, but there is a service charge for orders below RM18. dahmakan also has prepaid package options for those who are looking for a meal delivery subscription. You can pay via Visa, Master, or AmEx cards, PayPal, Boost, FPX, or cash on delivery.

Available promos for dahmakan

0% cashback
 with RM50 minimum spend using
Standard Chartered P
riority Banking
 cards until 30 June 2020

30% cashback
 with RM50 minimum spend using
Standard Chartered credit cards
 until 30 June 2020

30% off total bill
 for new users using promo code DAHSCB30

15% off total bill
 for existing users using promo code DAHSCB15

EPiC Food Hall

EPiC Food Hall
 operates a chain of halal-certified online food halls, housing four brands of online restaurants: Epic Fit Meals Co, Pak Adam’s Nasi Lemak, New York’s Patty & Toast, and Waron Panda. While customers do have the option to walk-in and takeaway, EPiC Food Hall prides itself on having its own dedicated crew for delivery services. If your order isn’t delivered within 45 minutes, EPiC will offer you a RM10 cash voucher in compensation.

Customers can order through telephone or through its website, and pay via cash on delivery, online banking transfer, or credit card. EPiC Food Hall’s delivery areas encompass Damansara, Sunway, and Mont Kiara.

Available promos for EPiC Food Hall

50% cashback
 with RM50 minimum spend using
Standard Chartered P
riority Banking
 cards until 30 June 2020

30% cashback
 with RM50 minimum spend using
Standard Chartered credit cards
 until 30 June 2020

1-for-1 meal deals
 with promo code SCEFH1613

PichaEats

PichaEats
 is a food delivery service which specially hires cooks among refugee women to help them provide for their families. The chefs of PichaEats come from international backgrounds, so you can expect to sample traditional dishes from Syria, Afghanistan, Palestine, and others. The meals are all halal and you can order sweet desserts and Ramadan specials as well.

As each dish is usually portioned for about 5-10 people, this delivery service is a good option for larger families; the minimum order amount for free delivery is also quite high at RM350. If you want to make a PichaEats order, you must make full payment via bank transfer by 11am a day before your delivery date.

Stay Safe And Stay At Home

Hopefully, this list will help bring more options to mind the next time you wonder what to eat during the ongoing MCO. Most food delivery services already have contactless delivery procedures in place; just make sure to maintain safe social distancing when receiving your food order and opt for cashless payment methods wherever possible. Last but not least – don’t forget to wash your hands!

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Jacie Tan

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New To Stock Trading? UTRADE Has What You Need To Get Started

So you’ve heard about stock trading, and you want to dip your toe into the water for the first time. But as a beginner, stock trading can be intimidating – it usually involves a fair amount of technical analysis and research in order for you to make the right decisions that lead to high returns.

A good way to make it easier on yourself as a first-time trader is to pick a trading platform that makes the whole experience a lot easier and simpler for you. One such platform that you could consider when making your first foray into stock trading is UOB Kay Hian.

UTRADE – The Beginner’s Guide To Stock Trading

Especially since you’re new, taking the first step is always the hardest. But UOB Kay Hian offers a convenient way for beginners and even experts alike to buy and sell shares easily with their multimarket online trading platform, UTRADE.

UOB Kay Hian is Singapore’s largest broker with sales offices in the UK, US and Canada. As part of the UOB Group and an associate company of UOB Bank, it has a wide network of over 80 branches globally.

With their holdings listed on SGX (Singapore Exchange), UOB Kay Hian provides brokerage services with a variety of equities and derivatives, investment banking and services, corporate advisory, wealth management, and financial services such as structured financing.

With UTRADE, investors can get convenient access to multiple markets in Malaysia, Singapore, Hong Kong, and the US. The online platform streamlines the trading process through complex markets by providing their users a variety of reliable tools and services to keep them informed on market trends and opportunities. With one of the most competitive rates in the market, UTRADE allows traders to trade with no minimum deposit.

Additionally, UTRADE also prioritises the protection of clients’ funds and trades with round the clock network security, encryption and multiple firewalls, so traders can trade with peace of mind.

A Variety Of Stocks & Products To Expand Your Investment Portfolio

UTRADE offers an extensive list of secure products and trades such as bonds and equities that are easy to trade and proven to generate high returns in the long run. You can also diversify your portfolio by going into exchange-traded funds (ETFs) to effectively grab a hold of different markets. Margin trading is also available for you to boost your trading power.

With their new wealth advisory service, you’ll be able to build a diverse portfolio with a variety of assets such as unit trusts and fixed income products.

Explore The Market With UTRADE’s Tools & Services

To learn and understand the market further, users can make use of tools and services like Stock Screener to filter and sort companies based on their preferences, ChartGenie to implement proven trade strategies, ShareXplorer to acquire a quick summary of a company’s fundamentals with stock charts, key data and latest news and, TechAnalyzer to analyse price patterns to understand market movements.

For clients who wish to have peace of mind, UTRADE also offers custodian services to easily transfer shares to and from their account.

User-Friendly Mobile App

Apart from their web trading platform, UTRADE also has a mobile app that allows investors to trade in local and foreign markets anytime and anywhere securely. Together with UOB Kay Hian’s award winning research team of over 50 analysts and industry experts, investors will also receive exclusive access to insights, tips, ideas, strategies, webinars and latest news.

Dedicated Team of Experts

Along with a convenient trading process, an array of tools and services as well as a dedicated team of experts to keep you informed – UTRADE can do more than to help you get started on stock trading.

Stock trading may be a little overwhelming to say the least but with UTRADE it doesn’t have to be. Head to

UTRADE’s website
 to open an account, set up your portfolio and begin trading!

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Katrina Balan Quiroz

Katrina Balan Quiroz

Copywriter. Katrina is fueled by a need to turn a confusing wall of text into something comprehensible, and drip coffee.

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5 credit card traps that keep you in debt

Almost every working adult owns a credit card. Whether it’s just for the convenience, or to stretch to the larger purchases you wouldn’t usually be able to afford, a credit card can be quite the little helper. These days
Malaysian banks throw in other goodies to reward you for using your credit card
 such as cashback, reward points and promotions. And, of course, they’re great for online shopping too.

However, credit cards are not all rainbows and cupcakes. Just like a rose with untrimmed thorns, it could cut you. Here are 5 credit card traps that could bleed your finances dry.

Minimum Payment

Credit cards provide us with the option of making minimum payments on our monthly statement. Whilst this may seem like relief, it really is just helping you pay more interest and carrying your debt for longer than necessary. It will take years for you to pay off a small debt.

In the long run, the so called peace-of-mind you get from only forking out a small sum at the end of the month will snowball into a huge debt total before you know it. Pay off as much as you can and endeavour to do so as quickly as possible.

Interest rates

Interest rates vary between credit cards. It’s normally the first thing you look for when you’re researching credit cards – how much it will cost you to borrow. A common mistake is not keeping track of the interest rates you’re charged once your new credit card comes through. The bank won’t always send you a separate notification when increasing your interest rate so if you don’t take the time to go through your itemised bill and the stuff that comes with it – you may miss the rate change altogether.

Pay attention to penalties that cause interest rates to spike such as late payment twice a year. Ensure you do not fall foul of these rules and if you really can’t be bothered to read that bill you’ll find all the
up-to-date interest rates in our credit card listings
.

Balance transfers

Balance transfers help those struggling to pay card bills every month. You can
transfer your existing credit card debts to a new card
 and enjoy an introductory interest rate offer, some as low as 0% for the first six months. Sounds great doesn’t it?

Well it is great, but the mistake a lot of people make is to get their new credit card with its freshly transferred balance and then go on a shopping spree. The last thing you want to do with a balance transfer credit card is use it!  Get that balance paid off as quick as you can whilst you’re not being charged interest. Remember that any new spending on the card will attract the full interest rate – up to 18%!

Charges for overseas use

Traveling overseas on holiday or business? You’re going to need a credit card – without a doubt it’s one of the safest ways to pay for hotels, flights and emergencies. Most
credit cards even give you free travel insurance when use them to book your tickets
. So what are the pitfalls?

Always be aware that using your card overseas will cost you extra in charges. For most it’s in the region of 1% on top of the already expensive bank exchange rate. Withdrawing money from an ATM in a foreign country will usually attract an extra fee of about RM10. That can soon add up if you’re going to the money machine every time you want to do some shopping.

Cash advances

A cash advance is essentially a loan funded from the available credit on a credit card account. Cash advances are helpful when you urgently need cash – simply go to the ATM, punch in your PIN and fill up your wallet. But beware of the interest rate. Pretty much
every credit card in Malaysia
 will charge you 18% interest on cash withdrawals.

Generally, using the cash advance option is expensive, it is always cheaper to swipe and buy.

Your credit card really can be your best financial friend – but if you aren’t careful, it can be your worst enemy too. Follow our advice and you’ll be avoiding some of the most common mistakes that people make when they get hold of a new charge card. Always remember, your credit limit is money made available to you for borrowing, not cash in your account.

Picture courtesy of
Creditcardstipsblog.com

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Matthias Sim

Matthias Sim

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Experian Launches Identity Theft Monitoring Tool, TrackMyID

Consumer credit reporting company Experian has introduced TrackMyID, a personal information monitoring service that can help its customers track their digital data that may have been compromised on the Dark Web. This also marks an extension of Experian’s partnership with CyberSecurity Malaysia to help the MalaysiaN public protect their identity online.

To begin, the Dark Web is described as a network of websites that uses encryption software to obscure their identities and IP addresses. As such, it is often free ground to carry out illegal and illicit transactions, such as the sales of stolen goods and personal data – which can then be used for fraud and scams, ultimately damaging your credit score.

According to Experian, TrackMyID uses its proprietary CyberAgent technology to detect personal information that is unduly exposed on the Dark Web. It can then inform users of the information that have been compromised, such as their email addresses and bank account information, source of breach, and other information detected.

The user will also be guided to take the necessary steps to protect themselves and limit the severity of the damage. Additionally, they can use the TrackMyID report to an official report at CyberSecurity Malaysia’s Cyber999 help centre.

In launching TrackMyID, the chief executive officer of Experian, Dawn Lai emphasised that cyber protection is important as safe digital transactions form the foundation of a productive and secure remote financial ecosystem. “As consumers, we must take proactive steps together to monitor and protect our digital identities as cyber threats are increasing and evolving. These measures will provide safeguards for us to navigate the new digital economy with trust and confidence,” she said.

Experian also backed its observation with some global statistics, saying that it has found 3.4 billion compromised personal records in the first eight months of 2021, compared to 5.1 billion in 2020. Additionally, the Experian 2021 Global Identity and Fraud Report noted that 33% of consumers are concerned about identity theft since the start of the Covid-19 pandemic. Meanwhile, Experian Global CyberAgent data showed a 76.6% increase in newly compromised personal records found in the Dark Web over the last 18 months.

Within Malaysia itself, cyber crimes are also expected to increase in 2021 based on the numbers seen in the first quarter itself. According to CyberSecurity Malaysia, its Cyber999 Incident Statistics 2021 noted 319 identity theft cases within the country between January until August 2021. Meanwhile, there was a total of 517 cases in the whole of 2020.

TrackMyID
 is available as a yearly subscription service that is currently priced at a promotional rate of RM15.90, with the usual price being RM31.80. You can cancel anytime to discontinue your subscription, but the amount paid is non-refundable. Alternatively, you can also opt for the more extensive JagaMyID package, which provides the TrackMyID service along with additional features, including monthly CCRIS updates. This is priced at a discounted RM31.80 (yearly subscription), with the usual rate being RM63.30.

(Sources:
Experian
,
FintechNews Malaysia
)

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About THE AUTHOR

Alex Cheong Pui Yin

Alex Cheong Pui Yin

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

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Bursa Malaysia: No Immediate Plans To Launch Cryptocurrency-Based Derivatives Products

(Image: The Star)

Bursa Malaysia Bhd has stated that it is not planning to launch any cryptocurrency-based derivatives products in the immediate future.

According to a report by The Edge Markets, the local bourse regulator and operator had shared the detail with them via an emailed statement. “While Bursa Malaysia is always looking for opportunities to offer interesting investment products to the market, we do not have any immediate plans to launch cryptocurrency-based derivatives products,” it said without elaborating further on the matter.

Prior to that, The Edge had reached out to Bursa Malaysia to ask about the possibilities of launching cryptocurrency-based derivatives products following the recent debut of the
ProShares Bitcoin Strategy ETF (BITO)
 on the New York Stock Exchange (NYSE). Briefly, BITO trades in futures contracts that are tied to Bitcoin, which essentially means that the assets are transacted based on a predetermined future price of the cryptocurrency.

(Image: CoinDesk/Cheyenne Ligon)

Aside from its significance as a pioneering product, the launch of BITO on NYSE is also noteworthy as it means conventional investors will now have easier access to Bitcoin via a more familiar channel: brokerage accounts. They will not need to go through the hassle of signing up with a cryptocurrency exchange platform or worry about being subjected to additional security risks.

Meanwhile, the Malaysian cryptocurrency trading landscape has
four digital
asset exchanges (DAX) that are approved by the Securities Commission Malaysia (SC), namely Luno Malaysia, MX Global, SINEGY Technologies, and Tokenize Technology. Malaysian investors are not highly discouraged from investing in cryptocurrencies via unlicenced DAX, with the SC having previously taken action or cautioned against popular channels such as
Binance
 and
KuCoin
.

(Source:
The Edge Markets
)

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About THE AUTHOR

Alex Cheong Pui Yin

Alex Cheong Pui Yin

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

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Guaranteed Gifts All Around Including From JBL, TNG, And More When You Apply For A Credit Card

We’re back with exciting gifts for the Unbox This Week credit card campaign this week!

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 (12 – 18 July), our featured bank partners are

Citibank, HSBC Bank, Standard Chartered Bank, Alliance Bank, and AmBank
. 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 – RM800 TNG eWallet Credit

Pocket guaranteed RM800 TNG eWallet Credit when you apply for a Citibank Credit Card this week! Whether it’s paying for tolls or spending on items and services, this eWallet credit will surely come in handy.

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 – JBL Pulse 4 Bluetooth Speaker or Tour Pro+ TWS Earbuds

Choose your guaranteed JBL gift when you apply for a credit card with HSBC this week! Will it be the JBL Pulse 4 Bluetooth Speaker that features a stunning LED lightshow as you party away surrounded by JBL signature sound from a 360-degree speaker array?

Otherwise, if you’re looking to immerse in your music deeply without external noise, check out the JBL Tour Pro+ TWS Earbuds that come with Adaptive Noise Cancelling with Smart Ambient to minimise unwanted distractions.

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 – RM200 Shopee e-Voucher or URBANlite Trapez 24’’ Luggage

Standard Chartered continues to give ALL approved applicants a choice of two guaranteed gifts. Tick tock, shop o’ clock – choose the guaranteed RM200 Shopee e-Voucher so you get more to spend on myriad items on one of the largest online shopping platforms in Malaysia.

Or travel in style with an URBANlite 8-Wheel Spinner Hard Case Luggage on your next trip.

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 – JBL Live Free NC+ TWS Earbuds or JBL Tune 710BT Headphones

Guaranteed gifts sound good to you? Get either a JBL Live Free NC+ TWS Earbuds or JBL Tune 710BT Headphones when you apply for a new Alliance Bank Credit Card!

Take home the hassle-free JBL Live Free NC+ TWS Earbuds that delivers the JBL Signature Sound, which means some serious power, along with the features you would need like Active Noise Cancelling and more. The JBL Live Free NC+ TWS Earbuds is guaranteed to you when you apply for an Alliance Credit Card with Balance Transfer.

Alternatively, enjoy your favourite beats with the JBL Tune 710BT Headphones that look and feel good with a lightweight design and padded earcup, 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 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
.

AmBank – Morgan Air Fryer

Preparing your favourite snacks has never been easier with the Morgan Air Fryer! No more greasy pots and pans to clean after, just your cravings satisfied. Get this guaranteed gift when you apply for an AmBank Credit Card.

Apply, get approved and activate your Ambank credit card within 30 days upon approval to be eligible for this prize. Existing cardholders and individuals who have held or cancelled an Ambank credit card in the past year are not eligible for this campaign.
Apply for an Ambank Credit Card here
.

***

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

While this week’s flash deal ends on 18 July (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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Chee Jo-Ey

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OCBC Revises Cashback Benefits Of Its OCBC Titanium Mastercard

OCBC Bank has announced a revision to the benefits of its OCBC Titanium Mastercard credit card (blue/pink), offering up to 7% cashback on online and e-wallet spend, as well as 0.1% cashback on other retail expenses. The revision is set to take effect on 21 April 2023.

Following this latest update, OCBC Titanium Mastercard’s cashback will be calculated as per the following structure, with its cashback for online and e-wallet, specifically, tiered according to the cardholder’s spent amount:

Tiers
Amount spent/Transactions
Cashback
Cashback cap
Tier 1
Online & e-wallet spend of up to RM1,000
0.07%
N/A
Tier 2
Subsequent online & e-wallet spend of above RM1,000 to RM1,500
7%
RM20 per month
Tier 3
Subsequent online & e-wallet spend above RM1,500
0.55%
N/A
–
All other retail expenses (no tiers)
0.1%
N/A

So as you can see, the cashback rate will not be applied as a flat rate on all your online and e-wallet expenses. Rather, it will be tiered according to specific amounts of your total spend. To further clarify how the revised features of the OCBC Titanium Mastercard card work, here’s a sample calculation from the bank, with the assumption that you’ve spent a total of RM2,000 on online and e-wallet transactions:

Additionally, OCBC highlighted that cashback will only be provided for the following e-wallet service providers:

Alipay

Boost

Grab

Lazada Wallet

Touch ‘n Go (TNG) eWallet

BigPay

Fave

KiplePay

Shopee

WeChat

Meanwhile, eligible retail spend allowed under this card includes local and overseas purchases, e-commerce and online purchases, e-wallet transactions, auto-debits and recurring payments, instalment payment plans, and mail/telephone orders. Transactions such as easy payment plans, and balance transfers, on the other hand, are excluded.

Other than that, the bank also noted that OCBC Titanium Mastercard cardholders will be entitled for cashback on insurance premiums paid using the card, except for Great Eastern life or general insurance (Great Eastern policyholders will need to check out the OCBC Great Eastern Platinum card instead).

Aside from these revisions, the card’s other features remain unchanged. You will still need a minimum annual income of RM72,000 to apply for the card, and it is free for life.

For comparison, the current benefits of the OCBC Titanium Mastercard card allow cardholders to earn unlimited 1% cashback on online and overseas spend. This is in addition to 0.1% cashback on all other retail spend. OCBC said that this latest revision was made to ensure that the card remains relevant to consumers.

(Source:
OCBC
)

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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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Standard Chartered Introduces Phone Call Authentication Via SMS Verification

Update
17 June 2020:
This article has been updated to emphasise that the service is aimed at priority banking customers, and includes a quote from the bank.

Standard Chartered Bank has introduced an easy way to check for the authenticity of its calls to customers via its new SMS validation process.

This new process is designed mainly for priority banking customers to authenticate calls received from their Standard Chartered Relationship Managers, who may contact customers on mobile numbers. To authenticate a call from a Standard Chartered staff member, make a note of the caller’s name and the mobile number they called you from. Then, SMS SCBCHECK<space><caller phone number> to 66399.

You will receive an SMS which you should cross-check against the details provided by the bank staff who called you earlier. If they match, you can proceed with confidence knowing that the person who called you is a validated Standard Chartered staff member. If it doesn’t, you will receive the SMS below:

“At Standard Chartered Bank, we strive to provide our customers a world class banking experience with all the security and convenience possible. The SMS Validation process, a simple 3-step process, allows our customers to validate calls from our Relationship Managers, giving them peace of mind and comfort that they are speaking to an actual Standard Chartered staff,” said Aizuddin Danian, Head of Digital Banking at Standard Chartered Malaysia.

“Given how the world is changing because of COVID19 and the various MCOs Malaysia has undertaken, we feel that this is an important extra step to protect our customers from tele fraud and scams,” he continued.

This new process by Standard Chartered is a good initiative given
the rising prevalence of various phone-related scams these days
. While the SMS validation is not mandatory, the service offers Standard Chartered priority banking customers the option of extra security and comfort in confirming that their phone call was made by an authorised Standard Chartered Relationship Manager.

(Source:
Standard Chartered Bank
)

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How to Get More on Your Dinner Dates Just By Using Your Credit Card

Looking to dine out and save at the same time? Your credit card may hold the key to unlocking special rewards and promotions for diners who swipe.

But can these promos actually help you save when you dine out? Of course! You just need to know how to use it right.

Read on as we share how you can #GetMore for your dining with the help of a credit card. But first, let us quell your concerns about frequent credit card usage.

Is it a Good Idea to Use a Credit Card for Dining Bills Considering How Often We Eat?

Using your card to get in on benefits is sometimes a balancing act because you have to weigh your possible incentives for using the card (cash back rebates, discounts and special offers) against your financial habits. Are you the type who diligently pays your bill every month come hell or high water?

If so, using your credit card for the umpteenth time should not matter to a prudent spender like yourself!

But what if you aren’t so prudent? No need to run and sulk in a corner just yet – find ways to ‘trap’ yourself into paying in time. This method not only teaches you better financial management; it helps you make the most of credit card benefits. You can do this by:

Paying off your dining bill within three days of swiping it onto your card. Did you use RM150 on a dinner with family? Pay this off at the nearest cash deposit machine! This will ensure you rack up no finance charges (within the 20 day grace period or however many days your card offers – call your bank for this information) and still benefit from your card’s dining discount.

Consider all swipes on a ‘can afford’ basis. Can you afford to pay this off within the grace period? Asking yourself this question helps.

If you are using your card for food because you have recently experienced a loss of income or unexpected expenditure hampering cash flow – don’t fret. Just endevour to pay as soon as you can. Set a reminder on your phone!

I am Ready to GetMore for my Dining!

So with responsible spending in mind, lets’ go through a few nifty suggestions on how to #GetMore from your credit card to enhance the dining experience.

Choose the right credit card

This one is a no-brainer, but time and again, people just sign up for cards that are more generic and tolerable with benefits. You should instead, go for a card that is dedicated to providing
rewards respective of your lifestyle needs
. For instance, if you love to dine out, look for a card with special benefits that cater to your foodie expenses.

To find a card with the best dining privileges, just check out our comprehensive
credit card comparison page
.

Look for instant gratification

Some promotions are definitely better than others, but the ones that are the most rewarding tend to ‘pay-out’ almost immediately. For example, discounts on bills at the cash register; one-for-one offers; and free sides or deserts tend to lie on the more gratifying side of credit card promos.

However, monthly cashback rebates, while possibly worthwhile; rely on your estimation of how much you could get back. This means you need to do some math and if math isn’t your strong suit – you could lose out! But if you find a card with BOTH instant rewards AND bonus points – we say hold on for dear life!

Take advantage of reward accelerators

To really save more, plan your dining activities to incorporate multiplier events (occasional increases in discounts, rebates or points), weekend cash back promos and the like.

At the same time, you may want to dump the bad eggs, i.e., cards that charge hefty annual fees and serve up inferior rewards. Choose instead, to swipe with the really good card forsaking all others. This way you can accumulate more points under a singular card and also budget your expenses according to the limits of that card.

Get invited to special foodie events

Use your card to gain complimentary access to exciting dining adventures that you would have otherwise missed out on. Some cardholders get tickets to food fairs, enjoy dining discounts at five-star hotel restaurants and even invitations to sample food from world-renowned chefs.

Don’t expect this to be an everyday offer, nevertheless, it surely adds an element of fun to an already fun-filled activity – eating!

Stay updated on the best promos

You may not be able to fully take advantage of special deals if you do not know they exist. Here’s how to stay in the know and never miss another deal again.

Check for updates on your bank’s website.

Call your bank to enquire about relevant deals before you dine out.

Bookmark our
promotions’ page
 for all the latest dining promotions in the country.

If you still receive bills in the mail, make sure you keep all the flyers. Banks often announce their dining promotions this way.

Look out for credit card advertisements in eateries (usually placed near the cash register!) and ask the wait staff if in doubt.

Don’t be afraid to GetMore!

Do you shy from using credit cards on small amounts because you worry what the wait staff or the customer behind you may think of the extended paying time? Let that be a thing of the past! It is common for many Malaysians to worry what people think of them especially when it comes to money matters but if you can save money, you deserve the opportunity to try!

Using your credit card to #GetMore out of your dining experience isn’t a fine art. All it takes is a bit of getting in the know (reading up or contacting your bank!) and being savvy enough to grab the opportunity when it arises!

Now you know how your credit card can help you save more and dine well, it’s time to refuel your tummy! Bon Appétit!

Did you like learning how to #GetMore when dining in this article? Follow our #GetMore hashtag on your favourite social media channels as we bring you more tips on how you can get more for your money in everything from travel to shopping and dining until the close of 2015. Who wouldn’t like to #GetMore for their money?

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Desiree Nair

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How to Force Yourself to Save Money Even When You Don’t Feel Like it

We all know we should save more. Not just for
emergencies
, but also for our
retirement
,
continuing education
 for ourselves or
potential children
, and to tick off the items on
our bucket list
. But saving money can be so boring. To that end, we figured out some helpful ways to force ourselves into saving money even when we don’t feel like it (which is most of the time)!

Treat It Like An Expense Or A Bill

For many of us, right after payday is when we start paying off our rent, utilities, and other recurring commitments. Our suggestion is to add “savings” as part of that. Decide on an amount you want to save per month, then “pay” yourself that amount monthly as savings.

This Works Because:
 Many of us think of savings as something we do for ourselves. And as such we may feel like we can better use the cash immediately rather than putting it away. By reframing our savings as “expenses” we can now think of our cash as belonging not really to ourselves, but to our future selves. Also, we might be more likely to stick to a saving schedule when it’s lumped together with other recurring payments.

Create A Separate Account Just For Savings

Ever dipped into your savings for emergency purchases? Ever did that even though the emergency wasn’t really an emergency? We’ve all done something like that at least once. One good way to avoid this is to create a completely separate bank account just for your savings cash.

This Works Because:
 If your savings are lumped together in the same pile that you’re spending from, you’re bound to chip away at some of it, intentionally or otherwise. But if you clearly separate the cash into its own account, you’re less likely to touch the money. We recommend putting it into a
high-yield fixed deposit
, which has built-in disincentives to discourage you from touching the money you’ve put into the account – for many FDs, if you withdraw your money before your term is up, you don’t get most or even any of the interest earned.

Put A Waiting Period Before Purchases

Impulse buys are often the culprit whenever our accounts “suddenly” look a lot smaller than we remember. Often, we buy things on a whim only to realise some time later that we didn’t really need it after all. To avoid this from happening, try implementing a waiting period before making any big purchases – if you still want to buy after waiting two weeks, for example, then you can carry on with the purchase.

This Works Because:
 Often when shopping, the desire to use our money to get what looks like fancy and useful stuff is just our brains lighting up with joy at potential positive feelings coming from ownership of material goods. Letting some time pass between our initial infatuation with a new pair of shoes and our decision to drop cash on them may be enough to snap us out of our trance and allow us to come to our senses. Think of it like this: if you’ve never had it before, have you ever really needed it?

Use A Standing Instruction

Another easy way to make saving a cinch is to not even bother doing it. Simply set up a standing instruction to deposit a set amount to that separate savings account we talked about earlier and let your savings grow automatically. You should set the date of the standing instruction to kick in quite early in the month – after you typically get your salary and pay off your bills, but not so late that you’ve already started spending away on non-necessities!

This Works Because:
 You don’t have to think about carving out cash from your income or tracing out a budget. Once your standing instruction takes effect, all you need to do is just remember that it’s happening and don’t be too surprised that you may not have as much to spend in hand as you thought after payday. Easy peasy.

Make It A Game

If you’re still not able to reach your savings goal by yourself, it might be time to enlist a friend to help kick your butt into shape. Pick one of your most competitive best friends and challenge each other to achieve a savings goal within a set time.

This Works Because:
 If you’re a particularly competitive person yourself, and you and your rival take this challenge seriously enough, it will be just the right psychological boost you need to pull out all the stops and reach your savings goal. If you both manage to reach it together, you can continue with ever-increasing money challenges and use each other as motivation to be better with your money together! Nice!

There are certainly a lot of ways to force yourself into getting your finances back on track despite how boring saving money can be. While we’re on the subject, check out
our comparisons page
 to find the best savings accounts in Malaysia for you to keep all your extra cash in. 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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Affin Islamic And Zurich Takaful Collaborate To Launch Affin Sure Cover Protection

Affin Islamic Bank Berhad and Zurich Takaful Malaysia Berhad have teamed up to jointly launch their first collaborative product, Affin Sure Cover. Affin Sure Cover is a family takaful plan that is both comprehensive and affordable, with monthly contributions starting from RM50 per month.

The  bank’s customers who are aged between 35 to 70 years old can register for the Affin Sure Cover plan without the need for any medical examinations. These include sole proprietors, business partners, or directors of a business entity. The plan offers coverage for insured persons up to 80 years of age and its coverage includes death, accidental death, and policy maturity benefits.

According to Affin Islamic CEO Nazlee Khalifah, this strategic alliance will allow customers of Affin Islamic to be provided with access to Zurich Takaful’s Family Takaful products. Zurich Takaful CEO Mukesh Dhawan said that Affin Sure Cover is one of Zurich’s simplest and easiest plans available, with a guaranteed acceptance feature which means everyone can apply without having to undergo medical check-ups.

Mukesh also added that the takaful market is still underserved and has tremendous potential for growth. “This collaboration complements our focus of reaching more Malaysians, including leveraging technology to keep the close connection with our agents and customers,” he concluded.

To find out more about Affin Sure Cover, you can head on over to the
Affin Islamic Enterprise Banking
 page here.

(Source:
The Star
,
Berita Harian
)

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0% GST, But Some Mamak Restaurants Are Still Increasing Their Prices

As many as 30% of mamak restaurants have raised the prices of their food and drinks despite the implementation of zero-rated GST, according to the Ministry of Domestic Trade and Consumer Affairs.

Minister Saifuddin Nasution Ismail shared that the ministry has been looking into complaints about there being no change or even increases in the price of food and beverages despite the zero-rating of GST.

Saifuddin said food and beverage prices were lowered at fast food outlets, but this was not the case in mamak restaurants.

“There are about 10,000 mamak restaurants and ministry officers found there was a significant drop in prices at fast food outlets compared to prices at mamak restaurants,” said Saifuddin. “We found that the food prices at 30% of the mamak restaurants had increased while another 70% had decreased.”

The percentage was obtained by comparing food prices at the outlets before and after the zero-rating of GST.

According to
Sinar Harian
, as many as 2,300 ministry officials have taken the necessary action against the food outlets in question, but their approach has been one of education rather than severe penalty. “If it happens repeatedly, only then will we take strict action. Our initial steps are to act by giving advice,” Saifuddin said.

(Sources:
Free Malaysia Today
,
Malaysiakini
)

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PLUS Will Replace Damaged Or Faulty RFID Stickers For Free

(Image: Bernama)

PLUS Malaysia Bhd has said that it will help motorists travelling on its highways to replace any damaged radio-frequency identification (RFID) stickers for free. This is on top of other steps that are being taken to assist highway customers who experience tag detection issues while using the RFID lane at toll plazas.

According to the strategic stakeholder engagement chief of PLUS Malaysia Bhd, Syed Mohammed Idid Syed Ahmed Idid, additional staff members have been assigned at toll plazas to offer any necessary aid. “When a vehicle’s RFID can’t be detected, a PLUS employee will use a handheld device to scan the RFID tag. If it still can’t be detected, a Touch ‘n Go voucher will be given to the customer for them to bring their vehicle to the nearest Touch ‘n Go fitment centre for a diagnostic assessment, and if the RFID is found to be faulty, Touch ‘n Go will replace it for free,” he said.

(Image: Bernama)

This move came following recent reports of
massive congestions at several toll plazas
 in the Klang Valley during peak hours, caused by RFID failures during rainy conditions. These included the Putra Mahkota and Sungai Besi toll plazas. In turn, PLUS took immediate remedial measures by dispatching more personnel and by making RFID signages more visible.

These efforts are crucial in encouraging the public’s confidence in RFID as PLUS has recently begun implementing
RFID technology for Class 1 vehicles along the North-South Expressway
, starting from Juru, Penang to Skudai, Johor. With regard to the rollout, Syed Mohammed Idid stressed that the RFID pioneer project is considered to be both more cost effective and convenient as it requires little to no maintenance. Motorists can also link RFID to their e-wallets for a more seamless toll fare payment experience.

Additionally, Syed Mohammed Idid noted the public’s comments about the high price of the RFID stickers, but only said that the RM35 price tag was set by TNG. He further addressed the public’s concerns about the use of TNG cards and SmartTAG being gradually phased out, saying that they should not worry as these payment channels are still employed in many toll plazas nationwide.

Separately, Prime Minister Datuk Seri Ismail Sabri Yaakob has also emphasised that
road users must be given the freedom to decide
 if they would like to pay their toll fares using RFID, TNG, or SmartTAG. While the RFID is a good effort, it is still a pioneer project that must be fine-tuned, and as such, the people should be given a choice, he stated.

(Sources:
The Edge Markets
,
Bernama
)

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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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Funniest Finance Memes

Happy Friday, folks!

Just a little something to get you laughing before the weekend: we’ve found the funniest finance memes on the web for your entertainment.

In no particular order!

I used to have a credit card…

Too many loans?

Empty wallet syndrome

First world student problems

Do I really need an emergency fund?

World currencies

And… the world’s best superpower.

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Diana Chai

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PrestoMall Announces BonusLink As New Loyalty Programme Partner

(Image: BonusLink)

If you’ve been buying things from PrestoMall, you will soon be able to get a little more out of your expenditure on the e-commerce platform as it introduces the BonusLink loyalty point programme for its consumers.

This basically means that your purchases on PrestoMall can now earn you BonusLink points, which you can then use to redeem rewards on the same platform as well. The primary advantage to this is all about the convenience as you will not have to go through the hassle of moving to another channel to collect your gifts.

That said, there is a caveat to the issuance of the BonusLink points. While PrestoMall will be making BonusLink points its sole loyalty point issuance programme, the points will not be awarded for the purchase of apparel products and shoes.

This arrangement is the result of a Memorandum of Understanding (MoU) signing between Presto Universe Sdn Bhd, a subsidiary of PUC Bhd, and BonusKad Loyalty Sdn Bhd (BLSB).

“The collaboration will improve the attractiveness of PrestoMall as an e-commerce site by introducing the BonusLink loyalty point issuance programme as well as BLSB’s sole and exclusive channel for BonusLink point redemption by BonusLink members on PrestoMall site,” said PUC Bhd in a filing with Bursa Malaysia.

BonusLink, which is Malaysia’s first premier consumer rewards programme with 9 million members nationwide, is well known for its collaboration with various organisations, but most prominently Shell and Parkson.

PUC Bhd has also maintained that PrestoMall will retain the rights to explore other loyalty point issuance programmes, whether as non-key strategic partnerships or for its marketing campaigns.

PrestoMall has previously partnered with B Infinite to allow PrestoMall consumers to collect BPoints. BPoints are collected when you purchase selected products that will give you BPoints. When you have racked up enough points, you can then redeem them at the checkout page of specific items. However, PrestoMall has posted a
notification
 on its website stating that redemptions are temporarily unavailable.

(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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RON95 Petrol Subsidy To Be Based On Monthly Electricity Bills

The government seems to have finally settled on the mechanism involved in the targeted fuel subsidy plan for RON 95 petrol. According to Deputy Domestic Trade and Consumer Affairs Minister Chong Chieng Jen, the proposal will be submitted to the Cabinet in October.

Chong said that only those who are in the B40 category with monthly electricity bills of between RM100 and RM200 would be eligible. “The use of electricity bills is only a reference point,” the deputy minister told Sin Chew Daily in an exclusive interview.

The deputy minister further elaborated that those eligible will either enjoy a RM30 monthly subsidy, or a subsidy of 30 sen for every litre of RON95 petrol capped at 100 litres a month. Meanwhile, motorcyclists will be given a subsidy of RM12 each month.

The fuel subsidy was first announced during the tabling of
Budget 2019
 and was expected to kick in during the second quarter of 2019, but experienced several delays in its implementation due to issues with its
recipient list
 and
distribution methods
. Deputy Minister Chong has confirmed that the subsidy funds will be transferred directly into the recipient’s bank account, similar to the Bantuan Sara Hidup (BSH) scheme.

The current
price cap of RM2.08 per litre
 for RON95 petrol will be abolished once the petrol subsidy is confirmed and officially rolled out. Following this, the retail price of RON95 fuel will be subject to
weekly fluctuations
, just like the RON97.

(Source:
The Star
)

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Dealing with Money Requests When You're Broke

When a relationship is at stake, saying no to a family member who asks for money seems like an impossible task. Sometimes you might really want to help but can’t do so considering your own financial situation. How will you work around this tricky relationship minefield?

We’ve given the question some thought. These ideas may save your drowning relationships while simultaneously helping untangle the financial drought faced by your loved one.

1. Conversation Contrary to Cash

If you have a loved one who frequently asks for money, chances are he/she is facing financial crisis and is unable to manage it. Often times, problems can be resolved simply by offering helpful conversation. As Benjamin Disraeli said, “Talk to people about themselves and they will listen for hours”.

You can always talk through a situation and help as much as your knowledge allows. Certain financial situations may occur due to the lack of financial knowledge and being unable to master the skill of money management. If the problem is major, recommend that your family member seek the assistance of a
financial advisor
; help them
contact AKPK
 or if the situation is minor; offer to help them with budgeting.

You can even direct them right
to our website where we constantly offer you solutions
 to your financial concerns and questions. It’s always better to face and destroy the problem from it’s roots rather than dodging bullets all the time.

2. Help with a Reference

Another major cause of financial crisis is unemployment. If your family member has recently lost a job or is terribly underpaid, chances are the money lending habit will not stop.

The best gift you can give your loved one is a decent job rather than cash. Its always better to teach someone how to swim rather than saving that person from drowning all the time.

Introduce your loved one to a reliable connection, help them update their resume and start applying or even point them in the direction of recruitment agencies and headhunting firms.

3. Help Them Review Their Options

Offer to help your loved one in need by reviewing their options and offering suggestions. How much money is needed and for what reason? Could a credit card or personal loan help? Perhaps taking on a freelance job or selling some items could also assist in managing cash flow.

Taking up a personal loan is an effective way if there is desperate and immediate need of money.
Personal loans with fast approvals
 can plug an emergency need for money provided the person
meets the bank’s lending criteria
.

Credit cards
 are also a useful option if the need can be paid for using a card (for example groceries and bills).

You could also offer advice or help them in selling unwanted items or obtaining a freelance job to plug financial gaps.

4. Consider Non-Monetary Assistance

Depending on what the person needs the money for, you could opt to offer non-monetary contributions. Do they need help with some groceries or a car fix? Perhaps you have extras lying around at home or a mechanic you can call for a favour. There are many reasons a person may need sudden cash and similarly many ways you could be of assistance.

If there is really no way you can help besides offering cash; then the best thing you can really do for your loved one in need is to be honest. Considering they too are in financial trouble; it should be much easier to understand just how difficult such a situation can be.

Tackled the same problem before? Don’t forget to leave your alternatives in the comments section, we would love to hear them!

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CIMB Services Impacted By Major Downtime Yesterday, Fully Restored At 9.15pm

(Image: Lowyat.NET)

Several of CIMB Bank’s online and offline services faced issues throughout the whole of yesterday, causing customers to flock en masse to its social media to enquire or lodge complaints. The glitches were eventually resolved, with all services back to normal by 9.15pm, but the severity of the downtime was significant.

According to a report by Lowyat.NET, services that saw interruption throughout the day included the CIMB Clicks mobile app, ATMs, cash deposit machines (CDM), as well as in-store card payments (debit and credit). CIMB branches in various locations were forced to put up physical notices to alert the public of the unavailable services – with some of them affected nationwide, as you can see from the sign put up at CIMB’s Sentul branch at 1.20pm yesterday:

(Image: Lowyat.NET)

CIMB’s Mid Valley Megamall branch, too, put up notices to indicate that systems were offline:

(Image: Lowyat.NET)

Lowyat.NET also reported that it was not possible to make money transfers and FPX payments via the CIMB Clicks website at approximately 4pm, with the money transfer option completely disabled in the CIMB Clicks app. Interbank money transfers from non-CIMB accounts were not successful either.

Unsurprisingly, many customers had trouble reaching the CIMB customer service yesterday, with the bank itself claiming that it had to attend to a high volume of calls. CIMB also did not provide a notice to explain the disruption in service during the day despite messages from the public on both its Facebook and Twitter accounts.

(Image: Lowyat.NET)

CIMB eventually responded with two statements in the evening – once at approximately 9pm to apologise for the “intermittent disruption”, and then once more slightly later to mention that it has fully restored all services at 9.15pm. Here’s CIMB’s first statement to Lowyat.NET reproduced in full:

“CIMB would like to apologise to our customers for the intermittent disruption earlier today to our Instant Transfer feature via CIMB Clicks. As an alternative, customers were able to use Interbank Giro Transfer service to perform fund transfers on Clicks that remained available throughout.

Other affected services included interbank ATM transactions with non-CIMB banks. However, we would like to reassure customers that our ATMs continue to be in operation for CIMB customers for all other services, including cash withdrawals and deposits.

The disruption to the instant transfer service on CIMB Clicks has now been resolved and we are working hard to restore our interbank ATM service very soon. We appreciate your kind patience and understanding in this matter.”

Despite the reassurances and alternatives provided, CIMB’s statement seemed to contradict some of the disruptions that customers experienced during the day, such as the non-functioning cash withdrawal and deposit machines. The bank also neglected to address issues such as unsuccessful credit and debit card payments, and did not shed light on the cause behind the major downtime either.

Our own quick check on CIMB’s social media pages today further indicated that despite CIMB’s claims that all services are fully restored, some customers are still unable to log in to their CIMB Clicks app or online banking accounts. Many also said that they could not get through to the customer service hotline.

This round of disruption is the latest in a line of recurrent difficulties faced by CIMB in providing services to its customers. Earlier in January this year, the
instant transfer feature in CIMB Clicks
 also faced some issues for two days, although the impact of the interruption then was not as extensive as this round’s.

(Source:
Lowyat.NET
)

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Alex Cheong Pui Yin

Alex Cheong Pui Yin

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

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The First Managed Business Park in Nilai, Only 25km to KLIA

Commercial and industrial parks have come a long way in recent years when it comes to development design. Traditional industrial areas with
somber
grey facades, unattractive warehouse entrances, and bumpy roads are being replaced with modern business arenas where design and sustainability are given just as important a role as structure.

One such industrial park that is breaking old conventions is the Sime Darby Property XME Business Park. Touted as the first-of-its-kind industrial project in Nilai Impian,
this development is Sime Darby Property’s venture into the Malaysia Vision Valley 2.0 development plan
.

Malaysia Vision Valley 2.0 is a state-led, private sector-driven development plan that aims to build a bustling metropolis within Negeri Sembilan to boost local and international investments and increase business opportunities for greater economic advancement.

As the premier managed business park in Nilai Impian, the commercial and industrial space is aesthetically designed for connectivity, versatility, and security.

Highly Accessible via 3 Major Highways

Take Exit 215 to Nilai on the North-South Expressway (NSE), and you’ll soon be hard-pressed to miss the premium glass-fronted design of the industrial lots in Sime Darby Property XME Business Park.

Spanning over 69 acres of freehold land, Sime Darby Property XME Business Park occupies a prime location at the entrance into Negeri Sembilan. Situated adjacent to the Nilai Toll Plaza along the North-South Expressway, the development is highly accessible with two other major highways branching out across Klang Valley, namely the ELITE Highway and LEKAS Highway.

Kuala Lumpur International Airport (KLIA) is a mere 25km distance – only 30-minute drive – from the development, offering an ideal solution to reduce commute time and thus increase productivity for international businesses that require frequent travels to the airport.

Meanwhile, its central location with easy connectivity to Kuala Lumpur, Seremban, Putrajaya, Cyberjaya, Shah Alam, and even Port Klang makes the development an excellent option for
major
logistics and
airline
hubs keen on a more spacious base of operations in a prime location.

What’s more, prime units facing the North-South Expressway (NSE) have an added advantage as those units are highly visible from the highway, thus increasing visibility for added business opportunities.

Built to Suit Your Different Business Needs

Boasting a variety of industrial lot designs, the Sime Darby Property XME Business Park embodies versatility with multi-functional industrial factories that are built to suit a range of industries.

From detached factories of varying sizes and semi-detached factories, the business park takes pride in offering spaces for any kind of industry be it a central kitchen, technology, logistics, furniture, automobile, packaging, warehousing, and more.

The lots are designed for sustainable use with improved ventilation and natural lighting. Meanwhile, the architectural theme of the park actively integrates commercial approachability with industrial design. This can be seen as the ample greenery that is dappled throughout the industrial park, as well as a 14.6-acre recreational lake garden across the development, promotes productivity and better work-life balance.

Surrounding Security for Peace of Mind

Another aspect of the design that positions Sime Darby Property XME Business Park as an exemplar in industrial development is the comprehensive security features.

The security features begin at the entrance with a manned guardhouse. Tenants are provided with access cards to pass through the barrier gate, while visitors will be required to log their entry into the gated compound. Other security features that extend to the rest of the property include CCTV surveillance, 24-hour security, and perimeter fencing for enhanced safety and better peace of mind.

Financial Relief Packages Available for A Limited Time

With its convenient location with ample connectivity, stunning yet versatile and practical architecture, and enhanced security features, Sime Darby Property XME Business Park is set to make its mark in industrial development as the first managed business park in Nilai Impian.

Sime Darby Property XME Business Park is also offering attractive financial relief packages to potential landowners for a short period of time. To learn more about the facilities or financial packages,
head over to the Sime Darby Property XME Business Park website today
.

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Hong Leong Bank Digital Day Is Back For 2020, Featuring Month-Long Deals

Hong Leong Bank (HLB) has launched its popular month-long Digital Day for 2020. Themed “Reboot Your 2020”, it features special one-day only banking deals on 7 July, a Shopping & Dining Mega Sale on 20 July, and a variety of other promotions taking place throughout the month.

During the HLB Digital Day on 7 July, HLB customers can expect rewarding one-day-only deals across various banking products including personal loans, fixed deposits, term investments, and credit cards. You can get 2.80% p.a. returns on 3-month e-fixed deposits, 3.20% interest/profit rates on personal loan/financing exclusively through Hong Leong Connect, and enjoy a 0% flexi payment plan when you convert your spend into instalments on Connect.

You also get to enjoy other banking deals throughout the whole month of July. For instance, you can get RM5 cashback every time you spend RM100 with your HLB cards on groceries, pharmacy, or online transactions – up to a maximum cashback of RM50 for credit cardholders and RM20 for debit cardholders. Personal loans, term investments, and fixed deposits are also offered at rewarding rates – although the rates for these are slightly better on 7 July under the one-day specials above.

If you are on the lookout for a new bank account or credit card, you can take advantage of the campaign’s acquisition deals for its Pay & Save account and credit card applications. Those who are new to HLB Connect can also register for the mobile banking app and log in for the chance to be one of the 30 daily winners daily selected to receive RM30. Meanwhile, SME entrepreneurs can make use of the SME-specific deals such as discounts on digital business solutions.

HLB’s deals aren’t only limited to banking products – you can also take advantage of the shopping and dining deals throughout the month. These include discounts on Shopee, Hermo, Zalora, Harvey Norman, Domino’s, 99 Speedmart, DirectD, and many more for Hong Leong Bank credit and debit cardholders. And on 20 July, HLB will be giving out over RM1,000,0000 worth of cashback and discounts for its Shopping & Dining Mega Sale.

To find out more about HLB’s “Reboot Your 2020” Digital Day, you can visit the
HLB website
 for more details.

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Unbox The Samsung Galaxy Watch 4, Riino 3.5L Airfryer & RM600 e-Vouchers This Week!

Roar-some gifts await you this lunar new year! Start applying for a chance to take home this week’s goodies.

For those who are new, the Unbox This Week Campaign is a weekly campaign where we present the best deals from our featured bank partners. All you have to do is apply for selected credit cards from these banks through RinggitPlus and you’ll receive exclusively selected gifts!

For this week (7 February – 14 February 2022), our featured bank partners include
Citibank, HSBC, and Standard Chartered Bank
 – if you have considered applying for any of these banks, check out our latest deal below!

Choose Between A RM600 Lazada or Shopee e-Voucher

Most of us already have items sitting idly in our shopping carts. Whether it’s a new house appliance or knick knacks that you’ve had your eye on, you can finally get them checked out! Choose between a guaranteed RM600 Lazada or Shopee e-voucher when you apply for a Citi credit card with us.

To be eligible, applicants are required to apply for a Citibank credit card, activate and spend a minimum of 8 retail transactions on their new card within 60 days upon gaining approval.

Take note, though, that current cardmembers and individuals who have cancelled their Citibank credit cards within a year before this campaign do not qualify for this promotion. Otherwise,
apply for a Citi credit card here
.

Stand A Chance To Win The Samsung Galaxy Watch 4

Want to keep a closer eye on your overall health and fitness? Samsung Galaxy Watch 4 offers a whole lot with features like body composition, fitness tracking, and sleep monitoring. You can even challenge your friends to an exercise. This week, 20 lucky applicants of HSBC credit cards will take home this sleek smartwatch!

Other applicants, on the other hand, will be guaranteed an RM600 Lazada e-Voucher for an online shopping spree.

Applicants are required to activate their new card upon approval and spend a minimum of RM1,000 within 60 days to be eligible.

Just remember that current cardholders and applicants who were denied or have cancelled their HSBC credit cards within 6 months before this campaign are not eligible to take part in this campaign. Otherwise, you can
apply for your HSBC credit card here
.

Guaranteed Riino 3.5L Rapid Airfryer

With easy cleanup and less oil consumption, there’s plenty to love about air fryers. Riino’s 3.5L Rapid Airfryer uses Advance Rapid Air Technology and comes complete with a removable non-stick inner rack and food-grade coating, which makes preparing food in the kitchen a much more enjoyable experience.

Applicants are still required to activate their card within 30 days upon approval to be eligible for this prize.

Lastly, be aware that existing cardholders and individuals who have held a Standard Chartered credit card in the past 6 months are not eligible for this campaign. If you qualify, then you can
apply for your new Standard Chartered credit card here
.

***

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

While this week’s flash deal ends on 14 February 2022 (11am), you can also follow us on our
Facebook page
 to receive the latest Unbox This Week offers as we refresh the deals every week.

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StashAway: Women More Likely To Stay Invested Than Men

A study by wealth management platform StashAway has revealed that women are more likely to hold on to their investments than men. The StashAway Insights 2022: Bridging the Gender Investing Gap study also indicated that women, in general, tend to invest more consistently than their male counterparts.

According to the study, female investors in Malaysia – along with those in Thailand, Hong Kong, the Middle East, and Singapore – are more likely to stay invested than male investors. In Malaysia – where the StashAway platform has been around since October 2018 – women are 1.18 times more likely to remain invested compared to men.

The study also indicated that women in Malaysia are 1.22 times more likely to continue investing on a monthly basis over a period of 20 months from their first deposit. A similar trend is also observed in more mature markets, such as Singapore, although the contrary was reported in Middle East.

While women are more likely to invest consistently over a longer period than men, the study also noted that women in the various markets studied are not investing enough. It further cited that almost 60% of women around the world are not engaged in investing or retirement planning, while 58% of them let their male partners decide on their long-term financial planning.

Another key finding is that women check their investments less frequently than men. Among Malaysian investors, women are 1.44% less likely to log in to their investment accounts in the first 30 days of making their investments. This trend is also seen in Singapore, Thailand, the Middle East, and Hong Kong. The study highlighted that login frequency is often linked to impulsive and loss-averse investing behaviours; investors with these behaviours are more likely to check their investments frequently, as well as tend to react prematurely to short-term market volatility and withdraw their investments.

Finally, the study found that women tend to choose lower-risk investment portfolios compared to men. Based on the StashAway Risk Index (SRI) – which indicates the 1% probability of losing a given percentage in asset value in any year – female investors in Malaysia prefer lower-risk portfolios (SRI 20%) as compared to male investors, who tend to choose portfolios with slightly higher risk (SRI 25%). Similarly, female investors in other StashAway markets also have a lower risk appetite than their male counterparts.

The StashAway Insights 2022 drew its data from StashAway’s customers in Malaysia, Singapore, Thailand, Hong Kong, and the Middle East. The study looked into the differences in investing behaviours between female and male investors in an effort to raise public awareness of the gender investing gap. This is also to inspire more women to take charge of their personal finances, and to promote stronger financial literacy among the people.

(Source:
StashAway
)

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    simple guy

    1 year ago

Women don’t know how to cut loss.

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Win More Prizes With RinggitPlus’ Unbox This Week Campaign In Week 4

Time certainly flies, and it’s already the fourth week of our Unbox This Week campaign – where we run weekly flash deals from different bank partners until the end of 2020!

Last week’s deal had been especially exciting, with one of the most anticipated gaming consoles of the year – the
Sony PS5 (digital edition)
 – being given away as prizes. In this latest round, we’re highlighting equally great offers from
Citibank
,
Standard Chartered
, and
RHB Bank
. As usual, you can win these prizes by applying for a new credit card with these banks through us, and the deals are only valid between 16 to 19 November 2020.

What are up for grabs this week, you ask? Well, here are the highlights:

Citibank: Lenovo ThinkVision E24-20 (24” Monitor) + Lenovo Essential Wireless Keyboard & Mouse

Win a guaranteed gift bundle worth RM818 – consisting of a Lenovo ThinkVision E24-20 monitor, along with wireless keyboard and mouse – when you apply for selected Citi credit cards with us. On top of that, you’ll also need to activate and spend a minimum of eight retail transactions on your new card within 60 days upon approval. Once we receive confirmation from the bank of your eligibility, we will then send you an email with gift claim instructions within 60 days.

Note, though, that this promotion is not open to current cardholders as well as individuals who have cancelled their Citibank credit cards and reapplied within 12 months prior to the campaign.

Otherwise, head on over here to get your
new Citibank credit card
 – and win these prizes while you’re at it.

Standard Chartered: Lenovo Tab M8 (2
nd
 Gen) HD

Those who apply for selected Standard Chartered credit cards through us will be able to win a guaranteed gift of Lenovo Tab M8, worth RM599. Make sure to also activate your card within 30 days from the card’s approved date, or you will fail to meet the campaign requirement. To claim your gift, you’ll need a unique redemption code that we’ll send within 28 days after Standard Chartered notifies us of your approval status and eligibility for the campaign.

The bank’s terms further clarified that existing cardholders and individuals who own any Standard Chartered credit cards in the past six months do not qualify for this campaign.

You can apply for your
new Standard Chartered credit card
 here.

RHB: RM600 Lazada e-Voucher

RHB continues to offer Lazada e-vouchers worth RM600 for the first 50 successful individuals who apply for selected RHB credit cards through us, provided on a first-come first-served basis. You must also activate your new card within 30 days from the date of approval in order to be entitled to the gift. And even if you’re not one of the first 50 successful applicants, there’s still good news! You will still be entitled to Lazada e-vouchers worth RM50 for your shopping needs.

We will announce the winners on our Facebook page by 31 December 2020, so be sure to keep an eye out. You’ll also receive your e-vouchers via SMS within 30 days after meeting the requirements.

Note as well that current cardholders and individuals who have previously held and cancelled their RHB credit cards within a year before the date of application are not qualified for this campaign. If you’re eligible, then head on over here to apply for your
new RHB credit card
 and win the vouchers!

***

When you’re ready to make your credit card application with us, remember to start it via our WhatsApp chatbot to safeguard your eligibility for this campaign. Also, the chatbot makes it easier for us to respond to you quickly during your application process.

You can also find out more about our
Unbox This Week campaign
 on our Facebook page here. Alternatively, check back again next week for more exciting deals!

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IOUpay Carries Out Company Restructuring, Suspends New User Registration For BNPL App myIOU

Malaysian buy-now-pay-later (BNPL) and digital payment service provider IOUpay is reportedly undergoing a company restructuring, with more than half of its staff and its entire management team dismissed. This came following the suspension of new user registration for its BNPL app myIOU since more than a week ago, as well as an ongoing investigation of its former chief financial officer, Kenneth Kuan, for “significant fraud”.

Based on several comments seen on
myIOU’s Facebook
, new user registrations for the BNPL app had apparently been suspended since two weeks ago. This was eventually confirmed by the myIOU social media team, who responded with:

“In line with company restructuring, [we] regret to inform that new user registration for myIOU will be disabled. For more enquiries, please contact our team at
[email protected]
.”

Merchants who signed up to use IOUpay’s services were also informed of the company restructuring exercise via a notice, which told them as well that their payout settlement for successful transactions during a specific period will be delayed until further notice. That said, this issue was subsequently resolved for some merchant partners, if not all.

These setbacks are ultimately signs of a deeper turmoil, specifically on the management level, and can be traced back to exchanges that started in early March 2023. Based on
 notices posted online
, IOUpay was asked by shareholders to
hold an extraordinary general meeting (EGM)
, with the aim of removing its current board of directors. This included group managing director Aaron Lee and chairman Isaac Chong (who was subsequently appointed as executive chairman two days after the request to hold the EGM).

Things were then made complicated when IOUpay also received several documents at the same time, implicating Aaron Lee in some forms of breach of duties. This prompted the now former chief financial officer (CFO) Kenneth Kuan to call for the suspension of Lee.

However, Kuan’s request was denied, and he was in turn
terminated with immediate effect
 following a “preliminary review by the executive chairman of cost levels and financial performance in the company’s Malaysian business”. IOUpay accused him of misappropriating up to AUS$7 million in company funds through a
previous partnership meant to provide financing opportunities for newly-hired Malaysian federal civil servants
. Understandably, this resulted in
Kuan being investigated by the police
 for significant fraud, with recovery efforts underway.

Just one day after officially dismissing its CFO on 13 March, IOUpay – which is listed on the Australian Securities Exchange (ASX) – then
paused
 and
halted the trading of its securities until 16 March
 due to a pending announcement to the market. Come 16 March, however, things were still unresolved. Instead, IOUpay’s securities were
suspended from quotation immediately
, “pending the release of an announcement regarding an update in relation to the fraud investigation and discussions with its financiers.”

Fast forward to 22 March, IOUpay was dealt yet another blow. One of its shareholders,
Clee Capital Pty Ltd had decided to initiate legal proceedings
 in the Federal Court of Australia against IOUpay. Notably, it is one of the shareholders who had earlier requested for the EGM to remove the current board of directors, aiming to appoint its own nominated directors instead.

According to IOUpay’s notice shared online, Clee Capital had sought several orders against it, including restraining IOUpay from making any payments or incurring any liabilities other than those required in the usual business proceedings. If the orders are granted, IOUpay will be prohibited from a loan or any other capital injection. Additionally, the legal claim also included a witness statement by dismissed CFO, Kenneth Kuan.

On its part, IOUpay said that it will resist the legal application, as well as provide regular updates about the investigations into the suspected fraud. It will also carry out cost optimisation initiatives for its business in Malaysia, as well as obtain limited funding to assist with any cash flow issues.

For context, aside from offering its BNPL myIOU service in Malaysia, IOUpay also claims to be one of Malaysia’s top three mobile banking processing, e-KYC, and authentication platforms – processing over 17 million authentication and mobile banking transactions each month. It also provides bill payment services (prepaid and postpaid). Additional, it counts banks such as AmBank, Bank Islam, and Standard Chartered among its clients, as well as major brands like Senheng, Mazda, and TBM Malaysia.

(Source:
Vulcan Post
)

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Alex Cheong Pui Yin

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Government Has Disbursed RM495.4 Million Through RM50 ePenjana Credit Initiative

(Image: Berita Harian/Luqman Hakim Zubir)

The government has revealed that it has disbursed almost half a billion ringgit to 9.9 million eligible Malaysians through the RM50 ePenjana credit initiative.

“Up till 21 August, RM495.4 million has been successfully disbursed to 9.9 million individuals,” said the Deputy Finance Minister Mohd Shahar Abdullah during a parliament session today.

Announced as part of the
PENJANA economic recovery plan
, the ePenjana initiative will provide RM50 worth of e-wallet credit to eligible recipients. It is intended to boost consumer spending and encourage e-wallet usage for contactless and cashless payments. Already ongoing since 31 July, the initiative will continue to accept applications from the Malaysian public until 24 September. Meanwhile, the credit received must be used by 30 September.

Applicants can choose to apply from one of the three e-wallet partners involved, namely
Touch ‘n Go eWallet, GrabPay, and Boost
. Each e-wallet service provider is also offering
a variety of bonus incentives
 for users who redeem their ePenjana credit from them, ranging from F&B, retail, and lifestyle categories. To qualify for the ePenjana initiative, though, applicants must first
register with the government’s MySejahtera mobile app
.

Mohd Shahar also noted that the ePenjana initiative has managed to exceed the achievements of the e-Tunai Rakyat programme, a similar effort launched by the previous Pakatan Harapan government. The e-Tunai Rakyat programme – which offered RM30 worth of e-wallet credit to eligible individuals – had managed to reach out to 7.1 million recipients.

(Source:
Malay Mail
)

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Alex Cheong Pui Yin

Alex Cheong Pui Yin

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

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