The New RHB Rewards Motion Code Credit Card Features Dynamic CVV Codes

RHB has announced an update to its
RHB Rewards
 credit card. Unlike recent credit card revision from other banks, RHB’s update is very different – the RHB Rewards card is the first credit card to feature a dynamic CVV number, designed to reduce fraudulent transactions.

Virtually all credit cards in circulation today relies on a 3- or 4- digit verification code known as Card Verification Value (CVV). These codes are static and usually printed at the back of the card, which can be a security risk if it is used on online platforms that do not require additional verification (such as 3D Secure, which generates a six-digit one-time password to verify a transaction).

The new RHB Rewards Motion Code credit card features an e-ink display at the bank that displays a CVV code that automatically refreshes at regular intervals, so even if a hacker obtains the card info, the CVV code will be obsolete after a specific timeframe, ensuring that all transactions using this outdated card info to be denied.

RHB partnered with augmented identity firm IDEMIA to use its
Motion Code technology
. The Motion Code technology involves a CPU, clock, an e-ink display, and a battery with a 3-year lifespan all embedded within the credit card. The video below shows how it works:

As a result, this additional security layer has no impact to cardholders, as there are no additional steps required on their end. Verification is done in real-time, so cardholders will not see a visible delay in transaction approvals. Best of all, everything is done without additional processes or using additional plug-ins.

Citing a 2018 Bank Negara Malaysia report, Acting Head of Retail Banking at RHB Banking Group, Nazri Othman says the new technology enables RHB to be at the forefront of fraud prevention in Malaysia.

“The majority of payment card fraud cases in Malaysia involved credit cards, which accounted for 92.1 per cent of total fraud losses. Payment card fraud is mainly contributed by card-not-present (CNP) fraud such as unauthorised online transactions using stolen PIN numbers, CVV code and identity theft,” he said.

“By partnering with Visa & IDEMIA, we have been able to leverage on best-in-class security features to safeguard our customers’ financial resources. This card provides a complete end-to-end solution for RHB as an issuer and for our cardholders.

Besides the new Motion Code technology embedded in the card, the RHB Rewards Motion Code card has no changes to the card’s benefits, which offers
up to 10x points for transactions in various categories
.

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Pang Tun Yau

Pang Tun Yau

A seasoned tech journalist who now focuses on his other passion, Pang is a firm believer in old-school DCA and optimised spending.

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Here’s How To Fully Utilise Your Partnership With foodpanda

When the pandemic hit last year, delivery platforms became a need for both consumers and business owners. Many restaurants turned to food delivery apps to stay afloat and keep their business running.

Even before the pandemic, one of the leading online delivery platforms, foodpanda was already dedicated to bridging the gap between restaurants and consumers. To help businesses in the new normal, foodpanda broadened its platform to help digitise micro and small businesses.

By partnering with foodpanda, vendors gain access to a variety of services and tools to manage and market their online platform. Here’s how it works.

***

With a convenient and accessible platform, foodpanda has made it simple for businesses in the F&B industry to take control of their advertising campaigns on their own to grow their business with tailored growth solutions to suit any marketing budget. With trackable performance reports and insights, businesses can also find ways to improve their productivity and efficiency to better serve their targeted consumers.

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

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What You Need To Know About The New Yes Prepaid & Postpaid Plans

There is a common perception that when it comes to mobile telco plans, postpaid plans tend to be pricier and while prepaid plans are cheaper, they usually come with some strings attached. In recent years the telcos themselves have begun to address these claims, but we always seem to know someone who has an issue with their telco plan.

At a time when high speed mobile internet isn’t a luxury, but an absolute necessity, the onus is on the telcos to provide excellent service, easy and transparent plans – and of course, at affordable prices. Thankfully, Yes is the latest telco to step up to answer the rakyat’s call, with brand new prepaid and postpaid plans that put affordable data at its core.

But are these plans as good as they claim to be? Let’s dig a little deeper.

Yes Kasi Up Postpaid 49

Right off the bat, Yes ticks one box: affordability. At just RM49 a month, this is the most affordable standalone postpaid plan in the country (non-MVNO). There are no tiers or different offerings; for RM49 a month, you get unlimited calls and a whopping 100GB of data, no strings attached.

Actually, if there are any asterisks to the offerings, it’s for the better: the data quota can be increased thanks to the Yes Databack feature. Every RM50 spent on anything on Shopee earns you 5GB of data, up to a monthly maximum of 100GB – effectively doubling your monthly data quota! Given that Shopee is one of the two mega e-commerce platforms, you can buy your groceries, pay your bills… and earn extra data in the process.

Since there is a hard cap on the data you can use per month, this so-called negative is actually beneficial as you can use the line as a mobile hotspot at uncapped speeds. In theory, it means you can set up a hotspot for your house or whenever needed at up to 200GB, which is a fantastic solution if you do not have a home broadband.

If that’s not enough, Yes is also offering some of the cheapest data add-ons ever: available in 10GB, 20GB, and 30GB options, you’re paying RM1 for 1GB of data. No “buy more, save more” illusions here.

Finally, how does the Yes Kasi Up Postpaid 49 compare to the competition? The table below compares the postpaid plans with similar features and/or price points from the top four telcos:

Yes Kasi Up Postpaid 49

Telco A

Telco B

Telco C

Telco D

Monthly Commitment

RM49

RM80

RM80

RM98

RM68

Monthly mobile data quota

100GB*

(*can be increased up to 100GB more with Yes Databack)

40GB

40GB*

(*up to 2GB data rollover/month, additional “loyalty bonus” up to 40GB

40GB

Unlimited

Calls

Unlimited free

SMS

Unlimited SMS (same network)

99 sen/SMS (other networks)

20 sen/SMS

10 sen/SMS

Unlimited free

3 sen/SMS (same network)

5 sen/SMS (other networks)

Mobile hotspot quota

Cap follows monthly data quota

5GB

Mobile data speeds

Uncapped

Capped at “standard definition video streaming” speed

Data Add On

10GB: RM10

20GB: RM20

30GB: RM30

10GB: RM18/month

40GB: RM68/month

80GB: RM108/month

10GB: RM10/month

1GB: RM6

3GB: RM12

10GB: RM10

N/A (unlimited)

As it turns out, it gives a good run for their money – the Yes plan is by far the most affordable plan based on the monthly data allocation provided. And if that’s not enough, Yes has a final ace up its sleeve: customers who sign up for a 24-month contract during this promotional period enjoy the first six months absolutely free of charge. That’s right, no rebate-over-time or anything of the sort – you instantly enjoy RM294 in savings!

Yes Kasi Up Prepaid 15, 20, & 30

Now, as mentioned earlier, prepaid plans can be quite confusing. We’ve seen telcos claim free unlimited high-speed data… but only during a specific off-peak time. It’s also common for a prepaid plan to offer seemingly generous data quota, only for them to be split into weekday/weekend or peak/off-peak allocations.

With the Yes Kasi Up Prepaid plans, the telco is offering some flexibility in choosing the most affordable plan that fits your data needs. Yes Kasi Up Prepaid 15 offers 10GB of high-speed data for just RM15 a month, while Yes Kasi Up Prepaid 20 doubles the data to 20GB for RM20. Need even more data? RM30 gets you the Yes Kasi Up Prepaid 30, offering unlimited data at 7Mbps, and a dedicated 9GB of hotspot data.

Need more data? Buy them at the same RM1 for 1GB rate, with varying validity periods so you don’t over-spend. Just as important: all Yes Kasi Up Prepaid plans offer 30-day validity, which means you’re never forced to spend more just to keep your line active. One thing to note, however: calls and SMS are not free for any of the Yes prepaid plans – they’re charged at a rate of 9 sen/min and 9 sen per SMS.

Here’s how the three Yes prepaid plans stack up against the best in the market:

Yes Kasi Up Prepaid 15

Yes Kasi Up Prepaid 20

Yes Kasi Up Prepaid 30

Telco A

Telco B

Telco C

Telco D

Monthly Commitment

RM15

RM20

RM30

RM35 (with unlimited internet pass)

RM35

RM35

RM35

Monthly mobile data quota

10GB

20GB

Unlimited

Unlimited

40GB

Unlimited

Unlimited

Calls

9 sen/min

Unlimited free

Unlimited free

Unlimited free

Unlimited free

SMS

9 sen/SMS

15 sen/SMS

10 sen/SMS

15 sen/SMS

3 sen/SMS (same network)

5 sen/SMS (other networks)

Mobile hotspot quota

Cap follows monthly data quota

Cap follows monthly data quota

9GB

3GB

Cap follows monthly data quota

Unlimited (add RM5)

6GB

Mobile data speeds

7Mbps

3Mbps

Uncapped

3Mbps

(add RM10 for 6Mbps)

6Mbps

Data Add On

1GB: RM1

2GB: RM2

3GB: RM3

5GB: RM5

10GB: RM10

2GB: RM3 (24 hours), RM10 (7 days)

5GB: RM19 (7 days), RM30 (30 days)

10GB: RM50

15GB: RM79

1.5GB: RM3

3GB: RM5

6GB: RM8

10GB: RM10

N/A (unlimited)

N/A (unlimited)

The Yes Prepaid plans certainly take a strong swing at the competition. Even at the most expensive RM30/month option, it still provides plenty of value: it is the cheapest unlimited data prepaid plan, it offers the fastest data speeds (but not by much), and has the largest hotspot quota. If you don’t need so much data, you still get fantastic value with the RM20 and RM15 plans.

Other Considerations

Of course, simply choosing the cheapest telco doesn’t mean you’re getting the best bang for your buck. There are other considerations to make, and the most important one in this case is whether the telco has a strong network in the areas you will use them the most. There’s no point buying a cheap plan only for you to suffer from poor network coverage!

Unlike other telcos, Yes runs a 100% pure 4G network. This means that when you’re in Yes’ network coverage, you can expect high-quality connections and some of the fastest 4G speeds in the country, as verified by Ookla. And according to Yes, it has a network coverage of 90.1% across Malaysia.

So, if you’re looking to reduce your telco bills and are within Yes’ network coverage, the new
Yes Kasi Up Prepaid and Postpaid plans
 are worth taking a closer look. Find out more at
www.yes.my
 or even better, subscribe to the plans without stepping out of your home by downloading the MyYes app for
Android
 and
iOS
!

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    Osman Said

    1 year ago

What about pre paid with unlimited call but let say 10G of internet ,? DiGi pre paid got it?

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e-pay Customer Data Is Allegedly Being Sold Online, Investigation Currently Underway

As many as 380,000 user accounts belonging to e-pay customers have allegedly been exposed in a data breach, causing their personal details to be compromised. The database – which was dated to be relevant as of January 2020 – was put up for sale on popular database marketplace forum, RaidForums, for a total sum of US$300 (approximately RM1,216).

The listing was first brought to public attention yesterday (3 February) by Twitter user
@Bank_Security
, an account that regularly highlights bank and cybersecurity threats committed globally. It was then picked up by a local IT-oriented Facebook page,
OMG Hackers
, and has since been extensively shared.

A Threat Actor is selling 380,000 customers PII Data and credentials related to the online payment system e-pay (
https://t.co/2G2LJl9LZZ
) located in Malaysia 🇲🇾.
pic.twitter.com/bLKTnM8rxm

— Bank Security (@Bank_Security)
February 2, 2021

Based on the screenshot captured, the database for sale contains various important details, such as the name, email and house address, date of birth, mobile number, and hashed password of the users. That said, a quick check by local tech portal,
Lowyat.NET
, earlier today revealed that the seller’s post has been taken down from RaidForums.

For context, e-pay Malaysia is a prominent e-payment service provider, known for offering prepaid top-up services for telcos, bill payment collection services, as well as online game, IDD, and e-wallet reloads. It is owned by GHL Systems Berhad, one of the pioneering payments processing companies in Malaysia. It also has presence in several other countries, including Singapore, the Philippines, and Australia.

In response to this alleged breach, GHL Systems has released a
statement via Facebook
 saying that they are “currently investigating these serious allegations” and checking into their system. Additionally, it also reiterated that the allegations are only isolated to the e-pay online reload and bill payment collection system (E.V.E.); other e-pay and GHL businesses and operations are not impacted.

“The E.V.E. system operates on an independent standalone system which does not interfere with the technical operations of other e-pay and GHL merchant acquiring systems and servers,” said the company. It also urged its users to take precautionary measures by changing their passwords, and to avoid clicking on unverified email links that urge them to update their credentials.

(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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Samsung Unleashes Neo QLED 8K TVs In Malaysia

Samsung has announced the arrival of its latest range of Neo QLED 8K TVs, which are aimed at redefining the role of TVs as a central hub to work, play, connect, and more.

Developed with the vision of “Screens Everywhere, Screens for All”, Samsung designed these new TVs to be the centre of users’ homes and daily lives. The new Tizen Smart Hub UI integrates machine learning capabilities to customise users’ entertainment options and preferences that allow it to make smart recommendations, while the new Ambient mode synchronises the screen’s display to match surrounding décor or display art pieces that accentuate your living room space.

Meanwhile, at the heart of the Neo QLED 8K TVs is the new Neural Quantum Processor 8K. Featuring 20 – yes, twenty – independent neural AI networks, this processor is capable of analysing and optimising picture quality regardless of source. The Real Depth Enhancer feature is designed to work like the human eye: enhancing objects in the foreground while keeping the background unprocessed to allow objects to stand out.

In addition, Mini LED technology makes a debut here, allowing the Neo QLED 8K TVs to have better control over lighting that minimises backlight bleeding and enhances the viewing experience. A quantum leap over conventional edge-lit LEDs, Mini LED technology uses hundreds or thousands of tiny LED light spread across the entire display, allowing better control over lighting.

Finally, the 2022 Neo QLED 8K TVs are also the world’s first Pantone-validated TVs. The global authority on colour and creator of the Pantone Matching System (PMS), the validation certifies that the 2022 Neo QLED 8K TVs can display more than 2,000 colours and 110 skin tone shades found in Pantone’s guidelines.

For gamers, Samsung has also upgraded its 2022 Neo QLED 8K TVs to provide the best gaming experience. Four HDMI 2.1 ports mean each HDMI port supports next-gen gaming consoles, while Motion Xcelerator Turbo Pro enables super-fast 144Hz refresh rates. Samsung also debuts a new “Super Ultrawide GameView” mode that takes full advantage of the 8K resolution.

There’s even space for Samsung’s own NFT platform, which is a partnership with Nifty Platform. This feature allows the Neo QLED 8K TVs to display NFT art while in Ambient Mode.

The Samsung Neo QLED 8K TVs are now available in Malaysia, and in four screen sizes: 55”, 65”, 75”, and 85”. Prices start from RM12,499 up to RM49,999. For more information, check out
Samsung’s official website
.

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Pang Tun Yau

Pang Tun Yau

A seasoned tech journalist who now focuses on his other passion, Pang is a firm believer in old-school DCA and optimised spending.

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CIMB: Apple Pay Support Coming In H2 2023

CIMB has shared that support for Apple Pay will not be happening anytime soon. In fact, the bank may only support Apple Pay in the first half of next year.

Speaking to the media after the launch of the new CIMB Octo mobile banking app, Ros Yusoff, the Group Chief Technology & Data Officer, mentioned that while CIMB is committed to supporting Apple Pay for its cards in Malaysia, it is focused on enhancing the features of the new
CIMB Octo app which was just launched today
.

As such, the rollout for Apple Pay support for CIMB cards may only take place in the second half of 2023.

(Image: Pexels)

Apple Pay, which
launched in Malaysia last week
, currently only supports credit and debit cards from three banks:
AmBank
,
Maybank
, and
Standard Chartered Bank
.

(Source:
Lowyat.NET
)

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Pang Tun Yau

Pang Tun Yau

A seasoned tech journalist who now focuses on his other passion, Pang is a firm believer in old-school DCA and optimised spending.

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TNG eWallet Adds New Alipay+ Rewards Feature

It seems like the Touch ‘n Go eWallet has rolled out a new feature, Alipay+ Rewards. Some TNG eWallet users have access to a new feature tile called A+ Rewards on their app homepage, and it comes along with a new promotional campaign that offers RM5 reload PINs to Alipay+ Rewards users.

According to the app, Alipay+ Rewards is “a central rewards hub jointly run by local wallets in partnership with Ant Group, bringing wallet users a world of exclusive rewards, attractive offers, and services from an extensive list of global merchants and partners.” It is likely that more details will be unveiled when the feature officially rolls out to all users.

Currently, TNG eWallet is offering reload PINs to users under the Alipay+ Rewards feature. Each user is entitled to a RM1 reload PIN for one time only, and RM5 reload PINs up to one redemption per week. The RM5 reload PINs will be released at 12pm daily from 8-20 June 2021, limited to 340 total redemptions a day on a first-come first-served basis.

To get your PINs, simply claim the code from Alipay+ Rewards when it is available. Copy the reload PIN provided and return to the TNG eWallet app. Enter the reload PIN via the app’s reload function and the extra credits will be added to your account.

Besides the reload PINs, the Alipay+ Rewards centre is also offering free game gift packs from Mobile Legends: Bang, Call Me Emperor, Game of Khans, and more.

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    ira

    2 years ago

n how i can get when the server is always busy ?? hmm

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    Ahmad

    2 years ago

    Reply to

        ira

I have similar problems even on the 01st day when the promo began. Server busy even before it starts at the stipulated time…within a minute or two sorry…out of stock…or heavy traffic tgain later… At timtw

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    Ahmad Zayadi

    2 years ago

Great 👍

0

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    Tk Leong

    2 years ago

I have touch n go app but I can redeem the Rm1 pin..and also the Rm880 . Is there any app need to be install or anything that we need to do to get the Rm 880 and RM 1 pin

3

Reply

    Ahmad

    2 years ago

    Reply to

        Tk Leong

What else to write….it just seems too busy always….

0

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    Anonymous

    2 years ago

    Reply to

        Tk Leong

How?

0

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    Anonymous

    2 years ago

    Reply to

        Tk Leong

Server always busy

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Loyalty Cards Made Easy With Chop Chop Mobile App

Never lose your loyalty cards again with this fantastic Malaysian app that let’s you scan and save at loads of retailers, restaurants and coffee shops in KL.

We were recently alerted to
Chop Chop
, a free Malaysian money-saving app. This virtual loyalty card app is available for iOS, Android and even Blackberry.

Once downloaded the  app will find your location and display nearby restaurants and cafes that support Chop Chop loyalty discounts. Chop Chop is easy to use, instead of handing a regular card over the counter, all you need to do is scan a QR code at the outlet.

Offers and discounts are awarded according to the number of chops you you collect from participating outlets. We tried out the app at Monster Bites Jaya One and Buddy Soy Smoothies 1 Utama and it was a breeze to use.

We love this app because it can help you save money without the hassle of carrying around different loyalty cards for every restaurant and café. Chop Chop solves this problem by storing them all in an easy-to-use free app.

Get Chop Chop
 now – it’s easy to download and simple to start saving!

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What Is IR4.0 & How Has It Impacted Malaysian Businesses

Known as a diverse and dynamic melting pot of cultures, Southeast Asia has been undergoing rapid digital transformation over the past decade. The ASEAN countries, which include Malaysia, are equal to the fifth largest economy in the world and are driven by an increasing tech-savvy consumer base who channeled the rise of a series of digital trends due to the implementation of IR4.0 technologies.  According to a report by Facebook and Bain & Company, it is estimated that the
number of digital consumers in Southeast Asia will rise to 310 million
 by the end of 2020.

Due to the Covid-19 pandemic, the need for digital transformation in Malaysia has hit the fast lane for many businesses due to safety and social distancing measures. To rise to challenges from the crisis, businesses now have to re-evaluate their existing business models, products, and services to readjust to changes swiftly, cater to their consumers, and most importantly, to sustain their business operations in these challenging times.

From a micro business such as a
nasi lemak
 stall to a global brand with over 50 outlets, digital transformation is essentially the process of integrating digital technology into all areas of the business to stay competitive and relevant in this digital age. Therefore by embracing this, businesses can maintain their ability to function during and after the pandemic by moving into IR4.0, the Fourth Industrial Revolution.

Creating A Digital Ecosystem To Drive Malaysia Towards The Future

IR4.0 is the union and conception of emerging technologies in industries. The Nine Pillars of IR4.0 are Big Data, Augmented Reality, Simulation, Internet of Things (IoT), Cloud Computing, Cyber Security, Systems Integration, Additive Manufacturing, and Autonomous Systems.

Source:
Ministry of International Trade & Industry

The implementation of these technologies will be able to accelerate the connectivity between people through the ease of virtually accessing data and knowledge from anywhere thus transforming how we work, live, and communicate.

In Malaysia, the embracement of IR4.0 will be able to boost productivity growth through creating, adopting, and integrating technological solutions into the workforce and industries. The government has launched many initiatives through innovation, skilled human capital, and the sweeping technological usage to support the vision of Digital Malaysia by enabling IR4.0 to form a community with shared interests that works, grows, and transforms together.

Source:
KKMM

MIDA and SME Corporation Malaysia to assist local businesses by providing subject matter, digital solutions, and technical support for their journey towards digital transformation as well as to support the government’s vision.

MIDA – INDUSTRY4WRD Intervention Fund

The Industry4WRD Intervention Fund is an incentive initiated by the government to encourage local SMEs in the manufacturing sector to embrace IR4.0. This initiative is in tandem with the National Policy on IR4.0, which introduced the Industry4WRD Readiness Assessment (RA).

Source:
Ministry of International Trade & Industry

The RA consists of a comprehensive programme to assist SMEs assess their capabilities and readiness to adopt IR4.0 technologies and processes. Upon completing the assessment, companies will be given recommendations on how to prepare feasible strategies and plans to implement IR4.0 technologies into their operations.

SME Corp. Malaysia – SME AI Program Matching Grant

Together with SME Corp. Malaysia’s matching grant, HUAWEI CLOUD is also providing digital solutions to local SMEs to utilise in their business processes under the SME AI programme. The collaboration will charter local digital innovations from the adoption of Cloud and AI technology to help SMEs create new and innovative products and services.

Transform Your Business With HUAWEI CLOUD Solutions

Over time, the rise of SMEs and entrepreneurship is no longer limited to traditional large corporations setups in today’s era. This is a result of the emergence of advanced technologies and applications such as 5G, Cloud, AI and Big Data; thus quickening the business growth in Malaysia.

From innovative products and services to operations that support and maintain digital functions, digital transformation involves a comprehensive and detailed process. The foundation of undergoing digital transformation for any business requires people, organisation, data, analytics, technology, and ecosystem to function.

That is why,
HUAWEI CLOUD offers over 100 digital solutions
 to people, homes, and businesses – providing a capable, ever-improving computing platform that is customisable to any business objectives.

Businesses can find
digital solutions devised by HUAWEI CLOUD exclusively to the industry of their business
, from automotive, e-commerce, education, financial services, gaming, healthcare, manufacturing, media, retail, transportation and logistics, and campuses. With their understanding of the different business processes and models,
HUAWEI CLOUD crafts the right solutions to provide businesses with the services and interfaces to improve productivity, increase efficiency and reduce costs.

Moreover,
HUAWEI CLOUD provides an affordable and customisable full-stack all scenario platform
 with various architecture solutions and an impressive hybrid cloud that creates seamless interaction between cloud, AI and 5G.

HUAWEI CLOUD’s expertise can be easily explained in an IR4.0 scenario, where devices, network and applications are essential. Devices (AI) need to be connected through a network (5G) to applications (cloud). The application(s) interpret the data from the devices, translate the data into information and revert it back to the device to achieve the desired scenario.

Apart from creating a stable digital environment and dedicated support, their support in cybersecurity, respect of user privacy and data sovereignty has earned Huawei over 30 years of trust from the market and over 50 global security certifications. By collaborating with clients and partners, HUAWEI CLOUD has helped to develop over 3500 intelligent applications on cloud services.

Huawei’s Commitment To Going Beyond Business

Apart from building an digital industry ecosystem, HUAWEI CLOUD Malaysia has also joined forces with Rainforest Xchange to protect rainforests of Sarawak. With intelligent (AI) machine learning and voice recognition technologies, the team used upcycled phones as monitoring terminals to detect illegal rainforest logging and animal poaching.

Source:
Huawei

HUAWEI CLOUD Malaysia has made continuous effort to invest in Cloud and AI applications to protect and conserve nature as well as to mitigate the effects of climate change in ways that will create a harmonious and sustainable future for both humanity and nature.

Kick Start Your Digital Transformation With Huawei’s Digital Starter Kit

With a better understanding of what digital transformation can do for people, businesses, and the economy, it is now more apparent that businesses and industries alike need to embrace the change to grow, expand, and increase efficiency and productivity to compete and survive.

To get your business started on that journey, HUAWEI CLOUD is exclusively offering RinggitPlus readers a digital starter kit to begin your digital transformation journey.

In the digital starter kit, you will get:

Free 2-month subscription of Smart Business Solutions

Additional 1,500 hours of cloud services

So, how can you get your HUAWEI CLOUD’s digital starter kit?
 Simply click on the interactive button here on RinggitPlus’ page, and answer a few questions that will help Huawei understand your business needs. Once you’ve submitted your answers, a Huawei representative will get in touch with you to start your business journey towards digitalisation.

Additionally, if you’d like to learn more about the number of ways to customise your own digital solution for your business, head to
HUAWEI CLOUD’s website
.

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About THE AUTHOR

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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The Ultimate Laptop-Tablet Hybrid For Your Business

It’s always good to know that you’re getting more for your money, and in our quest to help you stretch your ringgit, we’re always on the lookout for gadgets and tools that can help maximize your productivity both at work and everyday life. What’s our latest find on value-for-money gadget you ask? We’re inclined to say it’s HP Elite x2 1012 G1 tablet.

This handy, portable device gives you the full features of a laptop with the mobile convenience of a tablet, which is great for those of who are always on the go – whether for meetings or business trips. It also has plenty of other attractive features, such as:

Two Devices for the Price of One

Tablets and laptops are often used for different purposes. A laptop with its full keyboard is more suitable for tasks we associate with a desktop machine; word processing, presentations, document handling, and the like. A tablet, on the other hand, is for browsing the web, social feeds, mobile applications, and maybe some light emailing.

Combine these two devices together and you’ll get the best of both worlds in one convenient device. You can do your work with the keyboard attached, or take the keyboard out and use the kickstand to play your presentation in tablet mode. Talk about being handy!

Seamless Productivity Wherever You Go

This hybrid device also benefit from having more than the usual inputs that come by default on regular laptops. For example, the touchscreen can be used to interact directly with the user interface on the tablet, which is great for on-the-spot changes that you might need to make on your presentation slides or documents. What’s more, it comes with a stylus for ultimate control for those times you need to correct your sketches or drawings. In fact, you can sketch or draw right on its screen whenever the inspiration strikes you; whether you’re in the airport waiting to catch a flight, or enjoying lunch at a cafe.

Another one of HP Elite x2 1012 G1 tablet’s unique feature is that you have the option to connect it to HP Advanced Wireless Docking Station, which gives you the freedom to move around in the meeting room while your device is connected to the projector. This also means that you can keep a tidy workspace, as you can easily connect to your display, audio, and network devices as long as your tablet is within range.

Top-Notch Security System That’s Easily Accessible

Just like our smartphone, many of us store sensitive data or information on our laptop – whether it’s of personal nature or business-related. Naturally it’s important to keep these information safe, and fortunately HP Elite x2 1012 G1 is one of the few tablets that can offer maximum protection for your device, data, and even identity.

The device’s dynamic and high-tech device security feature extends to a fingerprint reader, or if you so choose, a smart card reader. From user’s data and identity security standpoint, it begins from the moment you start your device, with features such as HP Sure Start Technology. This ensures that your device can be switched on even after the worst malignant malware attack.

Your sensitive information are further protected with a pre-installed HP Client Security software, which provides in-depth client inventory, remote BIOS management, driver and utility updating, and more.

Easily Serviceable

Unique to this model (and across both laptops and tablets available in the market), is how easily serviceable it is. The build of this device allows for repair works that would be inaccessible to many other tablets – such as battery other key component replacement.

If the need arises, you can send it for services at global HP Authorised service partners in over 180 countries. This means that you won’t need to change the whole tablet if there’s any hardware issue.

A Sleek Portable Productivity Machine

So if you’re looking for a tablet or a laptop, you no longer need to choose between the two. It’s clear that HP Elite x2 1012 G1 can serve both your needs by being a powerful machine for your work and business use while being versatile and sleek at the same time. Check out
HP’s official website
 for more information on HP Elite x2 1012 G1 tablet!

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MEDAC: Six-Month Moratorium On Loan Repayments For Cooperatives

The Ministry of Entrepreneur Development and Cooperatives (MEDAC) has announced a six-month moratorium on loan repayments for cooperatives. Cooperatives can now apply to defer their loan repayments to the Cooperative Development Revolving Fund (TMP-JKP) from April to September 2020.

“In an effort to ease the burden of affected cooperatives, MEDAC has announced a moratorium on loan repayments by cooperatives to the Cooperative Development Revolving Fund (TMP-JKP) under the Companies Commission of Malaysia (CCM),” said MEDAC Minister Datuk Seri Dr Wan Junaidin Tuanku Jaafar. He added that the moratorium is expected to involve a sum of about RM99 million.

(Image: Malay Mail)

Datuk Seri Dr Wan Junaidin further said that the government is concerned about the negative economic impact that Covid-19 has on the 14,628 cooperatives in Malaysia. This includes the welfare of 6.05 million cooperative members nationwide.

The announcement by MEDAC came at the heels of Bank Negara Malaysia’s (BNM) decision to offer an
automatic moratorium
 of individual and SME loans for a period of six months. Note that unlike the moratorium offered to the individual and SME loans, MEDAC’s deferment offer for the cooperatives is not automatic. Cooperatives will have to apply for it.

Those who would like to do so can contact CCM via email at
[email protected]
 or call 012-3302444.

(Source:
Malay Mail
)

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About THE AUTHOR

Alex Cheong Pui Yin

Alex Cheong Pui Yin

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

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Luno Partners With Pizza Hut And Shopee To Offer Cryptocurrency Deals And Free Pizza Vouchers

Luno has teamed up with Shopee and Pizza Hut to reward its customers with additional Bitcoin and a free Pizza Hut voucher worth RM30 when they purchase Luno vouchers from the cryptocurrency exchange’s official Shopee store. The promotion, which will run until 1 July 2021, will see the Luno vouchers being sold from prices as low as RM0.66.

According to a statement by Luno, this promo was made in conjunction with Bitcoin Pizza Day, which falls on 22 May each year to commemorate the first Bitcoin transaction that was carried out. 22 May 2021 marked the eleventh-year anniversary of this transaction, during which cryptocurrency pioneer Laszlo Hanyecz paid for two large pizzas with 10,000 Bitcoin – equivalent to a value of over RM2 billion in today’s market.

There are three Bitcoin vouchers that are available for sale during this campaign period, catering to both new and existing customers. If you are new to Luno, then you can tap into two exclusive deals: a voucher that gives you
extra RM25 worth of Bitcoin (priced at RM0.66)
, and another that entitles you to an
additional RM100 worth of Bitcoin (priced at RM1.66)
. Meanwhile, the final voucher is open to both new and existing Luno customers, enabling you to earn an
additional RM100 worth of Bitcoin (priced at RM90)
.

Do note that the two vouchers provided exclusively for new customers come with a minimum spend requirement when you redeem them on the Luno app. In other words, you will need to purchase a specified minimum amount of cryptocurrency in order to claim the bonus Bitcoin – so make sure to check the TnC beforehand!

The country manager of Luno Malaysia, Aaron Tang said that he hopes to use this promo to show the public that they can easily and safely invest in cryptocurrencies through Luno. “We are excited about our partnership with Pizza Hut and Shopee as we hope it will show Malaysians how easy it is to invest in cryptocurrencies in a safe manner through our regulated platform,” he said.

(Image: The Star)

Tang also commented that the Bitcoin Pizza Day serves as a reminder of an important milestone in cryptocurrency’s history. “The celebration represents our belief that cryptocurrencies will revolutionise the way the world views and uses money. For those curious about investing in Bitcoin, the giveaway offers the perfect introduction to the world of cryptocurrency in a fun way while enjoying your favourite slice of pizza,” he added.

This partnership between Luno, Pizza Hut, and Shopee comes at the heels of a period of record growth for the cryptocurrency exchange, surpassing more than 300,000 customers in Malaysia and seven million global users.

To find out more about these Luno deals, go ahead and log in to your Shopee app.

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BNM: Malaysia’s Monetary Policy To Remain Unaggressive Moving Forward

(Image: BHarian/Sairien Nafis)

Deputy governor of Bank Negara Malaysia (BNM), Datuk Abdul Rasheed Ghaffour has said that the central bank will continue to keep Malaysia’s monetary policy unaggressive in the future, with adjustments to be made when necessary.

“In terms of timeline and the level of extent of [the] adjustments itself, what is important is [that] we will not need to be aggressive. We are not in the same situation as we see in the advanced economies in terms of inflation rate and strength of demand,” said Datuk Abdul Rasheed during a conference.

Datuk Abdul Rasheed also said that BNM will need to regularly monitor Malaysia’s economic growth and inflation to make the appropriate adjustments to Malaysia’s monetary policy, namely the overnight policy rate (OPR). “The terminal rate, I think we should not be fixated on a particular number; what is important is that we need to calibrate the monetary policy that would support sustainable growth moving forward,” he emphasised.

(Image: BHarian/Sairien Nafis)

Datuk Abdul Rasheed further stressed that Malaysia’s OPR hike must be done in a measured and gradual manner to encourage steady economic growth. Any increases introduced will have to consider the timing and magnitude of market adjustment to the increase, he said.

Last month, BNM had
raised Malaysia’s OPR by 25 basis points
, bringing it up from a historic low of 1.75% to 2.00%. The decision was prompted by latest indicators that showed Malaysia’s economy to be improving, driven by recovering domestic demand and sustained export growth. Economists also foresee further rate hikes throughout 2022 and 2023 given this normalisation of economic activity.

(Sources:
The Edge Markets
,
Malay Mail
)

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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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3 SME Tax Benefits That Every Business Owner Needs to Know

Whether you’re a small business owner already in the business for years or someone who is just beginning the first chapter of their start-up journey, it is undeniable that corporate taxation is a different ballgame compared to personal income tax. Read on to learn the tax benefits that will help you out a lot as a business owner.

New Corporate Tax Scheme

In 2017, a new corporate tax scheme was introduced as part of the government’s effort to assist small and medium scale enterprises. Prior to that, for all SMEs, the tax rate on chargeable income up to the first RM500,000 is 19%. This has since been reduced to 18% effective from the year of assessment 2017. As for the rest, it is as follows:

1 percentage point for increase in chargeable income between 5% to below 10%;

2 percentage point for increase in chargeable income between 10% to below 15%

3 percentage point for increase in chargeable income between 15% to below 20%;

4 percentage point for increase in chargeable income of 20%

For example, if a company’s chargeable income for year of assessment 2016 is RM10mil and increased to RM12mil in year of assessment 2017, the income tax imposed for the first RM10mil is 24% or RM2.4mil. As such, the difference of RM2mil increased in year of assessment 2017 will be taxed at 20% equal to RM400,000. In addition, this means the effective rate is 23.3% and the total amount of tax to be paid is RM2.8mil with tax savings of RM80,000.

Multiple Tax Incentives

As a SME owner, you are entitled to a wide range of tax incentives and this includes tax exemptions, allowances and tax deductions. Here are some of the tax incentives that are worth looking into:

Capital Allowance for ICT Equipment and Software
 – As announced in Budget 2018, the purchase of information and communication technology (ICT) equipment and software packages is eligible for accelerated capital allowance (ACA) until YA 2016. This is to encourage companies to adopt the latest technology and stay competitive in the digital era and as such, it is proposed that expenditure incurred on the purchase of ICT equipment and computer software packages be allowed a capital allowance claim at the rate of 20% initial allowance (IA) and 20% annual allowance (AA).

Tourism Malaysia
 – If you are in the hospitality industry, you may want to note that the application period for tax incentives for new 4 and 5-star hotels extended to 31

December 2020. In line with that, the tax exemption on statutory income for tour operating businesses will also extend.

Industry 4.0
 – Malaysian Investment Development Authority (MIDA) applicants gain an “automation equipment allowance” as part of the government’s initiative to embrace the transformation to Industry 4.0 (the 4th Industrial Revolution).

Hiring the Disabled
 – Employers who employ disabled persons certified by the Department of Social Welfare (JKM) are eligible to claim a further deduction on salaries paid to such persons. However, do note that this tax incentive exempts those who employ workers affected by accidents/critical illnesses and workers who are not certified by JKM. The Medical Board of the Social Security Organization (SOCSO) will be in charge of certifying the employees and ensuring that they are able to work within their capabilities.

Double Deductions

Apart from the incentives that been stated above, there are also several expenses that qualify for double deduction. This ranges from:

Approved training undertaken by manufacturing company which do not contribute to Human Resources Development Fund (HRDF)

Training costs which falls under SK1M for unemployed graduations

Provision of internship programme / structured internship programme (SIP) approved by TalentCorp

Cost coverage for new companies producing prescribed halal products who are looking to obtain certification for international quality standards

Expenses incurred by new companies producing prescribed halal products who are obtaining the certification issued by a certification body

Approved in-house R&D (research and development) expenditure for R&D companies

Cost for obtaining quality system and standards certification

For anchor companies who fall under the Vendor Development Programme, you can apply for double deduction for operating expenses incurred from carrying out specific activities

We hope that you have found this information useful for your tax filing as a business owner. Seeking more resources to grow your SME business or other information related to small business? Check out RHB’s SME Knowledge Center to learn more about the many products and features offered by them for absolutely free. Not a business owner? That’s alright, here’s a
 tax calculator
 you can use to check on your deductions.

This article was brought to you in collaboration with RHB SME Banking.

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Money Lessons I Learned from the Lord of the Rings and the Hobbit

Spending 18 collective hours watching 6 movies that are actually just telling two stories seems like a monumental misuse of time to people more keen on doing things like running marathons and gardening. Or even making more money. But I enjoyed every minute of the 18 hours (and more; considering I watched every one a few times over) of the fantasy nerd-fest movies that is the Lord of the Rings (LOTR) and Hobbit Trilogies. That is what counts right? Right?

Well, even if not; I tell you there are some
awesome life lessons
 to learn from the movie! However, we are a money site so we sought to find the money lessons as opposed to the general life lessons – and boy, did we find them (I mean, it is 6 movies). The best bit was the re-watching of many scenes – in the name of research of course!

1. The Money Sins of Your Parents May Haunt You But You Can Change Your (Financial) Destiny

In the
Fellowship of the Ring
; we are shown how Bilbo’s obsession with the ring and inability to understand it’s danger being passed on as the burden that Frodo now has to carry. He apologises to Frodo for bringing the burden of the ring upon him. But as we all know, Frodo not only rises to challenge; he avoids the temptation to keep the ring and manages to destroy it.

The Money Lesson
: A lot of our financial habits are learned from our parents: from their behaviour and also what they impart to us. But that doesn’t mean we need to lead the same lives or fall into the same money traps.

We can change our future no matter what we are left with – just as Frodo managed to do. In the same vein, parents can also heed the lesson to be careful what financial lessons and inheritances they leave their children. Let’s not allow our greed or mismanagement haunt our children.

2. Don’t Let a Bad Adviser Ruin Your Finances (or Any Other Big Decision)

In the second LOTR movie,
The Two Towers
, King Theoden was slowly poisoned by his bad adviser, Grima, a minion of evil Wizard-y Saruman. In time, Theoden lost control of his Kingdom and most everything in it because he trusted his adviser so (well, magic did play a part). Just as kings trust their political advisers; many people implicitly trust their money into the hands of personal finance advisers.

Whilst personal finance advisers are great to have when you aren’t as clued in to finance as you’d like to be; it’s important to always take an active interest in decisions made and avoid blindly following everything your adviser tells you. By and large, financial advisers aren’t evil wizard pawns looking to wage war on your bank account; but some may just not be as good at deciding the best financial move for you as you may think.

The Money Lesson
: Care for your financial empire should always be, at the end of the day, based on your decisions. Your adviser is there to advise you but it’s always good to take an active role in asking questions; thinking through decisions and in the end, maintaining ultimate control. This doesn’t mean that all advisers are evil and out to ruin your finances; but in the event you are unlucky enough to land a bad apple; at least keeping an eye on things will minimise any damage done.

3. Always Pay Your Debts

Or else you will be forced to hide in the shadows well after you’ve died. When Aragorn needed help in the
final installment of the LOTR Trilogy
; he called on the Army of the Dead (the Dead Man of Dunharrow) to help him. The Army of the Dead was cursed by Isildur for taking an oath to help him in the the fight in the War of the Last Alliance but they had abandoned him.

For not fulfilling their oath; they were cursed to live in the shadows and never know peace. The curse goes: *”…this curse I lay upon thee and thy folk; to rest never until your oath is fulfilled.”*

Sounds like what might happen to you if you miss a few loan or credit card payments.

The Money Lesson
: Debts must be paid. When you take a loan or make payments on a credit card; you essentially take a ‘oath’ that you will repay the loan you have taken.

In the event you don’t; the bank is legally empowered to take every action to have the debt repaid. Choosing to abandon this promise to pay may actually see you go into hiding (and hoping you can hide in a mountain): to avoid the debt collectors and bank agents! And if you’ve ever missed even a single’s month’s payment, you know how
persistent
 banks can be.

Whilst they can’t curse you physically for all time; they can make the rest of your existence pretty miserable especially with the threat of bankruptcy. Ever tried living with a bankruptcy status and the Director General of Insolvency controlling your every ringgit? Sounds like the existence of the living dead.

But once you’ve paid your dues – you’ll feel just as relieved as the head of the Army when Aragorn said his oath was finally fulfilled.

4. Big Returns Require Big Risk

As anyone keen on investments will tell you; the biggest returns require the biggest risk. In the first Hobbit installment, the
Unexpected Journey
, Bilbo Baggins was offered 1/14 share of the treasure in the Lonely Mountain and considering how much gold and jewels were in that mountain; that’s not a pittance by any means. But of course, he needs to successfully battle a gigantic dragon (albeit not alone).

The Money Lesson
: Just like Bilbo, if you can accept the risk of, in his case life and limb but in yours financial ruin, you could stand to gain enormous wealth. Of course, the stakes are high and you could end up in a less than pleasant state. Investments that are volatile and risky usually have the best yield. But not all hobbits are made for battle like Bilbo; just like not all investors are made able to stomach huge investment risk.

5. Emergency Funds are Important

In the second Hobbit movie,
the Desolation of Smaug
, the dwarves use their coins to pay Bard the Bowman to help them to safety.

This emergency stash of money/gold was enough to secure their safe passage and highlights the importance of saving for a rainy day. They were locked out of their home and income producing gold mine by a fire-breathing dragon and yet were still able to scrounge up enough amongst themselves to pay Bard what he asked. If that isn’t a good emergency stash built on resourcefulness – I am not sure what is. It made the difference between dying on that side of the water and getting to Laketown safely.

The Money Lesson
: Having an emergency fund is a non-negotiable and will help you many times out of sticky situation. Even when times seem difficult; saving a little will go a long way when you really need it. Your place of work may be overtaken by a fire-breathing dragon (your boss) but if the dwarves could still save a couple of coins perhaps you could too?

6. Make a Will

At the very end of the Hobbit: the
Battle of the Five Armies
, Bilbo comes home to find the hobbits of the Shire auctioning off his property. It was an almost free-for-all and people we’re scrambling for whatever they could get their hands on. Whilst it was possibly the ‘law’ of the Shire to deal with the property of a deceased hobbit; the possibility of your relatives having to scramble and fight off creditors and other stakeholders for your property if you pass away without a will, is very real.

The Money Lesson
: Making a will is important to prevent the hassle of dependents having to fight over your estate. Add in the complication of banks and creditors and you have a surefire recipe for estate distribution disaster. Making a will doesn’t have to be complicated and although it isn’t you who will be inconvenienced in the end – you surely don’t want your hard-earned wealth going to the wrong people!

7. Material Possessions Shouldn’t Control Your Life

The last and most permeating lessons we found in the entire 6 part epic saga of our time; is that greed and allowing material possessions to enslave you is a major no-no.

You can’t watch either of these trilogies without seeing this giant message/lesson blared everywhere; at almost every point of each movie. Whether it’s Thorin Oakenshield’s madness over the Arkenstone and his gold or Gollum’s obsession with the ring. Neither obsession did either of them good and for Gollum; he followed the madness to the brink and into the fires of Mordor.

As Thorin Oakenshield finally said before he died: *”If more of us valued food and cheer and song above hoarded gold, it would be a merrier world. But, sad or merry, I must leave it now. Farewell.”*

The Money Lesson
: The obsession with materialism can often cause problems in other areas of life especially when we spend inordinate amounts of money on collecting items for a hobby or in the pursuit of rare and expensive items overtakes everything else that should be important. It’s awesome to have passions and hobbies but it’s only when it consumes us that it becomes a problem.

We may not be literally plunged into a pit of fire or be hunted by a gold-greedy dragon; but we hear credit collection agencies can be pretty ruthless.

Whilst it may seem like nothing but good entertainment for a particularly boring weekend; the two Trilogies of LOTR and the Hobbit are a chock-ful of interesting life parallels; morals and lessons to take away. After all, art very often imitates life – or was it the other way around?

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RHB Credit and Debit Cards Offer Delicious Treats at the Grand Imperial

The Grand Imperial group of restaurants is offering mouth-watering offers for RHB Credit and Debit cardmembers. Buy any of the following desserts and receive a second serving free:

Double Boiled Mountain Snow Seed with Lily Bulb;

Sweetened Almond Cream and Rice Bal;

Chilled Strawberry with Lemon Grass;

Green Soy Bean with Sago.

That’s not all; frequent diners stand a chance to win an RM200 Grand Imperial voucher. Ten winners will be selected from the most frequent diners monthly during the promotion period to receive the voucher. Payment must be made with an RHB Credit or Debit card to qualify.

Vouchers are for one time use, cannot be exchanged for cash and are for dine-in use only.

Promotion is ongoing until 30 September 2013. For a full list of conditions,
click here
.

Grand Imperial outlets are as follows:

Hartamas Shopping Centre;

Bangsar Shopping Centre;

19 USJ City Mall, Subang;

OneUtama Shopping Centre,PJ;

Casa Klang, Klang.

To get your own RHB Credit card, check out our
credit card comparison chart
.

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6 Common Mistakes That Lead to a Low Credit Score and How to Prevent Them

Your
credit health
 is one of the indicators used by banks to measure how trustworthy you are with paying back credit lines such as credit cards, personal loans, car loans, and home loans. It’s measured by your
credit score,
a 3-digit number which is an analysis of your credit history that takes into account factors such as:

Whether you pay your bills on time
Number of credit facilities you own and how much is owed to banks
Types of credit facilities you have
If you’ve applied for any new credit lines recently
The age of your accounts

Simply put, a higher credit score ranging between 781 – 581, translates to good credit health
and that
 increases the likelihood that your credit application is approved.

(Read more on how your credit score is calculated
here
.)

While it’s not the only indicator used by banks to determine whether or not to approve a credit facility, your credit score does provide a good benchmark of your abilities to keep up with payments in a timely manner as a paymaster.

That’s why it’s important to be proactive about maintaining a high credit score and one way to do that is to know the common mistakes that lead to low credit scores so that you can steer clear of them.

Mistake 1: Late or missed payments

Around 45% of your credit score is based on payment history, so it’s not surprising that late or missed payments have a big effect on your credit score. However, this remains as one of the most common mistakes made that lead to a low credit score. The silver lining here is that even though your credit score might take a dip in the beginning, once you continue with regular payments, your credit score will start to rise.

Mistake 2: Applying for multiple credit cards at the same time

While it may be tempting to apply for many credit cards at one go and then wait and see which ones get approved, this manner of applying for credit cards may actually hurt your chances of getting approved.

Multiple applications lower your credit score, so it’s best to apply to one or two of credit cards that best fit your needs and lifestyle. If those don’t pan out, wait a month or two before sending out your next round of credit card applications for the best chances of approval.

Mistake 3: Maxing out your credit card

Ensuring that your payments are made on time will help improve your credit score, but you also need to monitor your credit utilisation percentage. This refers to the average percentage of credit utilised across your credit cards, and this calculation accounts for 20% of your credit score.

Utilising all the credit in your credit card, i.e. maxing out your card, means that the amount owed to banks will be high, resulting in a lower credit score. Avoid this mistake by maintaining an ideal 10% utilisation percentage across your credit cards and watch as your credit score keeps to the high figures.

Mistake 4: Closing your credit accounts

On the flipside of Mistake 3 (maxing out your credit card), is closing your credit accounts. On the surface, this might seem like a good idea to increase your credit score because without a credit account you don’t owe the bank. However, what this also does is erases your good credit history, particularly if you were managing your account well. Long-standing credit card accounts give weight to your credit score and, if they have a low outstanding balance, they also help even out the average utilisation percentage mentioned above.

Mistake 5: Not having any credit lines

Another common misconception when it comes to credit health is, “If I don’t owe the banks anything, then my credit score will be high.” Unfortunately, that’s not true. Since your credit score depends on an analysis of your credit history, not having a credit history (also known as having a thin credit file) results in a low credit score too because there’s not much to base your analysis on.

Mistake 6: Not checking your personal credit report periodically

Mistakes happen, and your low credit score might be due to an error in your personal credit report. Which is why running through your personal credit report with a fine-tooth comb is worth your time. Monitoring your credit report also helps you stay on track with your payments and if you’ve missed out on any, you can take swift action to rectify that mistake. Take time out at least once a year to go through your credit report, and if you prefer more frequent updates, try a credit health monitoring service like Experian’s JagaMyID Plus for monthly credit health updates.

Get the upper hand and stay vigilant about your personal information and credit health safety by checking your credit reports frequently to ensure all your credit facilities are accounted for.

Now that you are aware of some of the common mistakes that can lead to a low credit score, you’ll notice that one of the easiest ways to maintain a good credit score is to monitor your credit health.

In celebration of Credit Health Month, Experian is offering 50% off their credit reporting tools such as MyPersonal Credit Plus, JagaMyID, MyBiz, and more to boost awareness on the importance of good credit health.
Redeem this promotion here and enjoy
their various products and services at half-off.

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Maybank Giiiler KenDURIAN Campaign Is Back, Offers RM140 Worth Of Durian Pulp For RM50

Maybank is bringing its popular Giiiler KenDURIAN campaign back to satisfy the cravings of durian lovers, where customers will get to enjoy approximately RM140 worth of fresh durian pulp (equivalent to 1kg) at just RM50. Held in collaboration with durian trader DKing SS2, the campaign is set to run from 1 to 3 September 2023 (12pm to 6pm).

To enjoy the deal, customers will only need to pay an entrance fee of RM50 using Scan & Pay on their MAE by Maybank2u (MAE) app, after which they will get the following set (estimated at the value of RM140):

Musang King durian pulp (400g)

Horlor or Udang Merah durian pulp (300g)

XO or D24 durian pulp (300g)

Ho Yan Hor drink (1x)

Note that each customer can only enjoy one package deal per campaign day, and up to three deals throughout the whole campaign period.

In addition to the above, those who are travelling to the location (DKing SS2, Petaling Jaya) via Grab can also tap into an RM5 Grab Ride discount (by keying in the promo code “MAEDURIAN5” when booking your ride). This is also capped at three redemptions per customer throughout the campaign period, limited to the first 300 redemptions.

And if the Giiiler KenDURIAN promo deal at DKing SS2 isn’t enough for you – you’ve not had your fill of durians yet! – Maybank also has another promotion that lets you get RM10 off when you purchase durians at other nearby stalls, with a minimum spend of RM100 (promo code “MAEDURIAN10” via Scan & Pay). Participating durian vendors include:

SS2 Durian House Stall,

SS2 Durian Glasshause

SS2 Durian Hill

Brother Durian SS2

DurianMan SS2

This particular offer is also available only between 1 to 3 September, and customers are allowed to a maximum of two redemptions.

Finally, for those who would like to munch on something else aside from durians during this campaign, there are food truck offers from Maybank as well, where you can enjoy RM3 discount at selected food truck vendors at SS2 (min spend RM10), namely:

Uncle Bob

Tainan Meesuah

Aicruz

The Gerai

Leapark

When you make your purchases from these participating food trucks, remember to pay using the Scan & Pay feature in your MAE app, and key in the promo code “MAEFOOD”. Each customer is limited to three promo code redemptions during the whole campaign period (one redemption per bill).

Given that all of these offers rely on you using Scan & Pay from your MAE app, remember to register and activate the feature at least one day before heading out to SS2 for a fun-filled weekend. Not sure how to activate Scan & Pay on the MAE app? Here’s a video guide from Maybank to help you out:

(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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Here's What You Need To Know Before Registering Your Business

While you might think that it’s alright to carry out a business on a small scale without having to register, it’s really better that you do and here are some really important reasons to do so:

Because it’s illegal not to.
 According to the
Registration of Business Act 1956
, any type of business or trade carried out for profit except charitable or regular employment, needs to be registered with Syarikat Suruhanjaya Malaysia (SSM). If you are found guilty of operating without a license, the penalties are severe – RM50,000 or imprisonment for up to two years or both!

Because it’ll help with financing and tax write-offs.
 Your business loan application will be received much more favourably than if you were to apply as an unemployed person. Moreover, when writing off business or asset expenses like a company car for tax purpooses, note that it typically needs to be registered under the business name.

Because it’s better for business.
 Clients or customers are likely to trust a registered business more than they would one that is operating unlicensed.

Note that the basic requirements to register a business is that the owner is a Malaysian Citizen or Permanent Resident and aged 18 years and above.

So now you know who can register and why you need to, let’s go through the relatively easy and inexpensive process of getting it done.

How to Register Your Business

It’s really quite a simple process, one that’ll yield a shiny new business certificate as quickly as one to two hours after the application is made (barring any unexpected catastrophes or delays of course). Only the actual owners and partners are allowed to apply, so don’t send anybody else in your place. Here are the three steps to registering your business:

Step One: Decide On The Type Of Business You Want to Start

If you’re doing this for the first time, there are
a few types of business entities
 that you can register as in Malaysia. The first is a sole proprietorship, which is owned by a single owner. Next is the partnership where your business is jointly owned by two or more people (up to 20 partners).

You also have the option of registering as a Limited Liability Partnership or Private Limited Company (‘Sdn Bhd’). These two types give you better financial protection but the set-up isn’t as easy and capital costs can be high. They also have extra steps you have to fulfil like yearly accounts audits and preparing annual returns reports. You can check out a full exploration of the different business entities and their pros and cons, in our
full article on the topic
.

For the purposes of a side business, we recommend and will assume that you’re going for a sole proprietorship or partnership entity. Now, on to the next step!

Step Two: Choose a Business Name

Before you get creative with choosing a name for your new business venture, note that a ‘trade name’ e.g. ‘ABC Restaurant’ will require approval first (Form PNA 42) from the Registrar of Business at SSM. Moreover, there are guidelines when choosing a name. For instance, it shouldn’t be more than 50 characters long and must be in accordance with the business type. See the full list of guidelines [
here
].

However, using your ‘personal name’ as per your Identity Card to register a business doesn’t require you to apply for approval. Still, since a name change is not allowed, if you do want a different name for your business later on, you will need to re-register your business – so choose wisely.

Step Three: Register Your Business

Fill up the Business Registration Form (Form A) and sign it, if you are registering a partnership be sure to supply a copy of your partnership agreement and have your partner(s) sign the form as well. If your business requires any special licenses or permits, do attach these as well.

Sole proprietors using their personal name will need to pay a registration fee of RM30 whereas partnerships and sole proprietorships using a trade name will pay a fee of RM60. Each branch registered is charged a fee of RM5.

You can register at a branch counter or
online
. If your application is approved, you’ll have your business certificate within one hour. Also, don’t forget to renew your registration on time as you will have to re-register your business if the license has expired for more than 12 months.

If you are starting a small business and don’t have the funds you need, you might want to consider a personal loan to help finance your start-up costs. Check out some of the best personal loans available in Malaysia on our
comparison page
 now to find one that is just right for your business.

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Celcom-Digi Merger Gets Green Light From MCMC

(Image: MalaysiaGazette)

Axiata Group Berhad and Digi.Com Berhad have received clearance from the Malaysian Communications and Multimedia Commission (MCMC) to proceed with a proposed merger between their respective subsidiaries, Celcom and Digi. If successful, this will see the emergence of the largest telco in Malaysia, to be named MergeCo.

According to the MCMC, it had thoroughly assessed the proposed merger and approved the deal after both telcos agreed to address various competition issues that were highlighted to them. “MCMC had considered the commitment offered by the applicants and is satisfied that it will significantly reduce the competition issues that will or may arise as a result of this merger,” it remarked.

To note, both telcos have agreed to a set of undertakings to allow the merger to proceed – one of which is to ensure that the merger will not affect existing and new Mobile Virtual Network Operators (MVNOs). Additionally, the MVNOs must be provided continued access to wholesale services for three years.

(Image: New Straits Times)

Another condition that must also be met is for Celcom to sell off its sub-brand, Yoodo, within 18 months of the deal closing. In the event that this is not possible, it has to cease Yoodo’s operation within three months of the expiry of the period.

On top of that, the agreement also stated that the merged company will be required to operate all its prepaid and postpaid brands as a single corporate brand (MergeCo) within two years after the merger is completed.

In a joint statement, parent companies Axiata Group Berhad and Telenor Asia both said that they will now be advancing to the next phase of the approval process. “Upon completion of the transaction, the parties look forward to realising the potential of the proposed merged company, which is expected to culminate in a stronger capacity to drive digitalisation in society broadly, for consumers, businesses, the partner ecosystem and for the development of local talent,” they added.

(Image: The Sun Daily)

This merger between Celcom and Digi has actually been in the works for a while now; Axiata Group Berhad and Telenor Asia had first revealed their intention to do so
back in April 2021
. This was quickly followed by the submission of their proposal to the MCMC in July.

Now that the MCMC has approved the merger, the telcos need to get the green light from the Securities Commission Malaysia, Bursa Malaysia, as well as their shareholders. The merger is expected to be completed within the second half of this year.

(Sources:
Axiata
, MCMC [
1
,
2
],
Malay Mail
)

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HLB Partners With GSC To Launch GSC BIG For Enhanced Cinematic Experience

Hong Leong Bank (HLB) has partnered with Golden Screen Cinemas (GSC) to launch GSC BIG, the latter’s brand-new proprietary premium large format (PLF) screen that is specially designed to provide an improved viewing experience for cinema-goers. In conjunction with this, HLB will offer exclusive deals, alongside opportunities to win prizes at selected GSC cinemas that offer GSC BIG halls.

According to a statement, the new GSC BIG – which is currently available at The Starling Mall and Tropicana Gardens Mall – will wow audiences with its cinema screen that has dimensions of over 20 metres in width, and 10.8 metres in height. It is also powered by a 4k laser projector for superior visuals, and complemented by a 32-channel multi-speaker Dolby Atmos surround sound setup as well as spacious seatings. Selected BIG halls also features recliners and D-BOX motion seats for those who wish for an enhanced experience.

To celebrate this launch, HLB said that customers who apply for a HLB credit card or open a HLB account, or spend a minimum of RM200 on their HLB card (via a maximum of two transactions) at The Starling Mall will stand a chance to redeem various prizes worth up to RM500. Additionally, there will be booths at selected GSC BIG halls where movie-goers can take pictures with family and friends, as well as play games and win exclusive prizes.

“Hong Leong Bank has been our long-standing partner for many years, and we are thrilled to collaborate with them on another milestone to provide movie-goers with a new, captivating cinematic experience,” said the chief executive officer of GSC, Koh Mei Lee, who also stated that the cinema exhibitor will continue to roll out new cinema experiences and promotions with the bank.

GSC and HLB’s partnership is currently in its fourteenth year, beginning with the introduction of the HLB GSC credit card (
Gold
 and
Platin
um
) – Malaysia’s first co-branded credit card with a cinema chain. Cardholders can get up to 10 free movie tickets upon approval, enjoy discounted rates on movie tickets and F&B, as well as earn up to 3x rewards points on their expenses.

Meanwhile, the managing director of personal financial services for HLB, Andrew Jong said that this partnership with GSC will help HLB to better reward its customers with things that they like. “We know our customers love the special deals and rewards for their tickets and concessions, and we want to expand the wonderful movie outing experiences that they have come to expect from HLB and GSC to even BIG-ger moments,” he said.

Aside from GSC The Starling Mall and GSC Tropicana Gardens Mall, GSC BIG will also be steadily rolled out to other GSC theatres across Malaysia, including IOI City Mall (Putrajaya), MyTOWN Shopping Centre (Cheras), and The Spring (Bintulu). It is set to replace existing GSC MAXX, which is being phased out from use.

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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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Hong Leong Bank Releases Limited Edition Olympic Debit Cards

For a limited time only, Hong Leong Bank is issuing special edition Olympic-themed debit cards in conjunction with the upcoming 2020 Olympic Games in Tokyo, Japan. The limited-edition Olympic debit card is available to both new and existing Hong Leong Bank customers.

There are three versions of the Olympic Hong Leong Bank Visa debit cards: white, red, and black. The red and white versions display the cheerful figure of Miraitowa, the official Tokyo 2020 mascot. Meanwhile, the black debit card features a Japanese samurai, etched in silver against a contrasting background. All three designs feature the Tokyo 2020 Olympics symbol: a wreath of Japanese cherry blossoms placed above six interlocking Olympics rings.

New customers opening a Hong Leong Bank account during this period will be able to obtain the Olympic debit card with the usual RM8 charge for first-time issuance of debit cards. If you are an existing account holder and wish to swap your current debit card for the fancy Olympic one, you can do so if you pay the debit card replacement fee of between RM9-RM18, depending on your account type.

The Hong Leong Bank Olympic debit card will only be available while stocks last, so if you’re interested, you should get them while you still can.

On a related note, Hong Leong Bank is offering up to RM100 cashback for new customers with a debit card linked to a
Hong Leong Pay&Save account
 between 1 January to 30 April 2020. So, if you’re thinking of setting up a new bank account with Hong Leong to get the Olympic card, take a look at the
Pay&Save/-i Cashback Campaign
.

If you’re a fan of Olympic-themed cards, you may be interested in the
Tokyo 2020 Limited Edition RHB Visa Cash Back Credit Card
 and the
Tokyo 2020 Limited Edition RHB Visa Rewards Credit Card
, which also feature Olympic-based card designs.

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How Smart Are You When It Comes To Handling Money?

All of us at RinggitPlus strongly believe that education, awareness, and knowledge is key to managing your finances well. But we had a question: how smart are Malaysians when it comes to managing money?

To find out, we developed the Malaysian Financial Literacy Survey. The set of questions below allow us to gain better insight on how Malaysians from various age groups and income levels manage their money, their perception of financial products, and if they are ready for any financial shocks.

Please help us in our research by completing the survey below.

Note: all entries are anonymous, and no data is shared with third parties in line with the Personal Data Protection Act.

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MOF: Budget 2023 To Focus On Economic Recovery, Socio-Economic Reforms

(Image: Reuters)

The Ministry of Finance (MOF) has said that Budget 2023 will focus on accelerating Malaysia’s economic recovery, as well as strengthening its economic and fiscal resilience. This is on top of MOF’s aim to transition from the current recovery phase to longer-term reforms that will bring about socio-economic development.

In a bid to improve the people’s wellbeing, MOF highlighted that Budget 2023 will prioritise income and social protection reforms through the implementation of various strategies. These include continuing upskilling and reskilling initiatives, increasing the digitalisation of economic activities, and ensuring a reasonable pay through minimum wage revision.

(Image: Bernama)

“Budget 2023 will emphasise a more sustainable fiscal position by improving revenue and expenditure efficiency; improving the
rakyat
’s wellbeing through increasing the income of the
rakyat
, improving social protection and providing government assistance in a more targeted manner,” MOF added.

Additionally, the ministry said that the government will stimulate the creation of more high-paying jobs by expediting automation and enhancing high value-added production activities. It will also target high-quality investments in all economic corridors to ensure a more balanced development nationwide.

“Therefore, emphasis will be given on improving business ecosystems, creating more jobs, and improving infrastructure in less developed regions or states, namely Sabah, Sarawak, Kelantan, Terengganu, Kedah, and Perlis,” MOF remarked.

(Image: Malay Mail/Shafwan Zaidon)

The ministry further stated that the national budget will also strive to boost the business sector via several initiatives, including encouraging the competitiveness of small and medium enterprises (SMEs), increasing productivity, and exploring new growth areas. It added that given the increasing labour demand and improving consumer sentiments, economic activities are expected to resume fully going into 2023. This positive development will lead to greater job opportunities, higher income prospects, and a more manageable inflation rate.

The government is expected to table Budget 2023 in the Parliament on 28 October 2022. Ahead of the tabling, it is inviting the
public
 and
businesses
 to share their feedback on Budget 2022 measures to make improvements in the upcoming national budget.

(Sources:
The Edge Markets
,
Ministry of Finance
)

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Mastercard Debuts First-Ever Music Single "Merry Go Round"

Businesses have long recognised the value of sounds, jingles, and melodies in creating a successful brand identity and in bringing their marketing efforts to the next level. Mastercard certainly has as well, and is, in fact, bringing it to the next level by dropping its first-ever music single,
Merry Go Round.

Sung by Swedish artist Nadine Randle, the song is a collaboration between Mastercard and songwriter and producer Niclas Molinder, who has also worked with various pop icons, including Lady Gaga, Miley Cyrus, and Mary J. Blige. It is also Mastercard’s latest effort in sonic branding, where customers would be prompted to recall or recognise a brand through its association with certain sounds.

“Sound is our next frontier for brand expression and a powerful way for us to reach consumers through the passions that connect us all. We’re thrilled to be partnering with Nadine on
Merry Go Round
 to integrate the recognisable sonic melody – underscoring the many ways that the branding can be used beyond traditional means,” said Mastercard chief marketing and communications officer, Raja Rajamannar.

(Image: AdWeek)

The “sonic melody” that Raja Rajamannar referred to is a collection of unique sounds that Mastercard hopes to use to drive people’s recognition of the brand through regular and repetitive use. Launched in 2019, it comprises three audio elements: the sonic logo, transaction sounds, and music tracks – all of which can be heard at more than 7.6 million payment touchpoints.

By integrating these recognisable audio elements into
Merry Go Round
, Mastercard wants listeners to develop an association between these sounds with its brand identity and values.

Aside from using it as a form of brand expression, the global payments company also wants to use the sonic melody as an audio reinforcement of payment security and authenticity. This is supported by a research conducted by Mastercard and GfK Global, where 77% of the respondents believed that the Mastercard sonic sound made the transaction and retail environment more worthy.

(Image: Totally Örebro)

Molinder, who will be producing the remaining songs with other up-and-coming global artists, is also enthusiastic about Mastercard’s sonic branding strategy.

“The launch of this sonic-integrated song project is one-of-a-kind and signals the way that music and consumer consumption is changing. The recognisable sonic sound architecture has an incredible way of transcending genres and geographies, while continually evoking excitement through its expressive melody,” said Molinder.

(Image: Forbes)

Merry Go Round
is the first of 11 to 12 tracks in
Priceless,
 an upcoming full-length album of original songs from Mastercard. All the tracks will also feature the specific sonic melody to tell a story that is relevant to the brand. As the album’s first song,
Merry Go Round
 spins a tale about “a new beginning and fresh start enabled with Priceless possibility”, which plays on the tagline of Mastercard’s ongoing advertising campaign.

The single recently debuted at Live@CES (2020 Consumer Electronics Show), an event in partnership with iHeartRadio in Las Vegas. It will soon be available for download on your favourite music streaming services.

(Source:
Variety
,
Forbes
,
Mastercard
)

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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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Top Tips on How You Can Get the Best Interest Rates for Your Loan

Shopping around for the most attractive interest rates is the obvious move to make for most people looking for a loan. Lower interest rates mean you pay less every month and you reduce your total debt amount faster. To that end, we thought it would be useful to share with you some essential tips to follow when looking for the best interest rates for your loan.

1. Know What to Shop Around For

Before you even go looking around for the best interest rates, take some time to really consider the kind of product that suits your situation best. If the amount you need is only a little more than your current monthly salary, perhaps a credit card would work better. Or if you’re looking for funds to start a business, a business loan would be more appropriate than a personal loan. Both these options are better alternatives for their purpose because they would be cheaper, have features that suit their intention, and in many cases, would offer more attractive interest rates than personal loans.

2. Know
Where
 to Shop Around

Calculating interest rates can be confusing and getting the right information from different lenders’ websites can be challenging. What you can do is use a comparison site like RinggitPlus. Sites like ours often have a helpful loan calculator for you to find out exactly the kind of loan from which bank that can offer you the best deal for your needs.

3. Don’t Apply for Multiple Loans or Credit Cards

Each time you apply for a new loan or credit card, it counts as a hard inquiry in your credit report. If too many of these appear too close to each other in your credit report, it might indicate to lenders and banks that you’re a high-risk customer, short on cash or getting ready to rack up a lot of debt. This in turn, may affect the interest rate you’ll get when you apply for a loan.

4. Make Sure Your Credit Score is Healthy

Speaking of credit reports, be sure to check your credit score via CTOS to ensure that you’re in good shape. If it doesn’t look that good, lenders and banks might offer you a lower interest rate. Remember to pay all your credit obligations on time and avoid missing payments.

How Do I Check My Credit Score?

An easy and convenient way to do this is to visit the
CTOS website
 and sign up for a CTOS User ID online or via their mobile app.

If you aren’t familiar with CTOS, it’s a credit reporting agency that helps to compile and provide credit information in Malaysia. It offers the MyCTOS Score report – a comprehensive credit report that can help you understand your credit health better and help identify the areas you need to work on to improve your creditworthiness.

A MyCTOS Score report contains your personal details, CCRIS records, directorships, legal action records, the number of times you’ve been searched, as well as your CTOS Score – a credit score that ranges between 300 (lowest) and 850 (highest).

You can find out more about MyCTOS Score report and sign up for your CTOS User ID at
ctoscredit.com.my
. Have you gotten your MyCTOS Score report before? Did it help you understand your credit health better? Share your thoughts and experience with us in the comment section below!

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ShopeePay Enables DuitNow Transfer To Allow Real-Time Fund Transfers

E-commerce platform Shopee has finally enabled the DuitNow Transfer function on its ShopeePay e-wallet. With this, ShopeePay users are now able to send or receive funds from online banking platforms or other e-wallets in real time by entering their DuitNow IDs, instead of keying in their account number.

In its FAQ, Shopee clarified that every individual may have multiple DuitNow IDs that are registered with separate online banking platforms or e-wallets for the DuitNow Transfer feature. For instance, your phone number can be registered as the DuitNow ID for an e-wallet, while your NRIC number can serve as the DuitNow ID for your bank. In the case of ShopeePay, users are only allowed to activate their phone numbers as the DuitNow ID for the e-wallet’s DuitNow Transfer service.

To set your phone number as your ShopeePay’s DuitNow ID, simply perform a one-time registration via the following steps:

Tap on the “Settings” icon in your ShopeePay page in the app

Tap on DuitNow, agree to the T&C, and tap on “Link DuitNow to ShopeePay”

Obtain a verification code via WhatsApp, voice call, or SMS (up to your preference)

Key in the verification code to successfully register your phone as the DuitNow ID for ShopeePay

Once that’s done, you can go ahead and transfer or receive funds seamlessly from other internet banking accounts or e-wallets! If you’re sending funds to other people, you can key in the recipient’s preferred DuitNow ID, ranging from mobile and account numbers to NRIC and passport details.

Do also note that only ShopeePay users who have upgraded their account to the Premium account (by verifying their NRIC) will be allowed to use the DuitNow Transfer service. As always, all DuitNow Transfer transactions are free, and there is no limit on the number of DuitNow Transfer transactions that can be performed.

That said, your DuitNow Transfer transaction amounts will still be restricted to your ShopeePay daily, monthly, and annual limits. Briefly, ShopeePay users with a Premium account has a daily and monthly limit of RM4,999 (for each), and an annual transaction limit of RM59,999. Meanwhile, the wallet size for ShopeePay also stands at RM4,999.

To note, ShopeePay joined the DuitNow ecosystem – which is operated by Payments Network Malaysia (PayNet) – all the way
back in February 2020
. It subsequently
activated DuitNow QR in December 2020
, and said that ShopeePay aimed to enable DuitNow Transfer by June 2021.

(Source:
ShopeePay
)

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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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