How to Protect Your Credit/Debit Card When Travelling

Are you all set for some fun in the sun; sightseeing; and just all-round vacation goodness? You may have the sunscreen and swimming gear all packed but are you really ready for your holiday?

Protecting yourself against the of the perils of travel is important and nothing can ruin a holiday faster than the money issues you may end up facing. Stolen credit or debit cards can cause a lot of holiday headache but you can protect your money friends by being ready. Check out our tips on doing just that.

Keep Your Card Concealed

When taking your card out with you during travel; it will pay to keep it as safely protected on your person as much as possible.
Travel wallets
 that are concealed under clothing or strapped securely to you are a good bet when you are walking in busy streets on taking public transportation.

It does sound cumbersome to have to reach into your securely strapped travel wallet to pay for things but you’ll be glad you did. Losing your credit card or debit card overseas is not fun – as
many would attest
.

Keep Photocopies of Your Card

Before you travel, make photocopies of your card front and back and keep this in your luggage with the phone number of the bank’s lost card reporting line. It might seem like common sense but most people lose their cards only to realise they don’t remember the card number nor the back’s emergency phone number!

Of course, just like physical cards, the photocopies could also fall in the wrong hands. Use a good black marker to blot out the name and expiry date (this means you’ll have to remember it for yourself) just in case the photocopies end up stolen. Having just one credit card with you on holiday could help reduce how much you need to remember and photocopy!

Should you indeed lose your card abroad, having this information will make it easier to immediately report your lost card. Just take care not to lose the photocopies too!

Don’t Take Your Card Everywhere

Every day you are enjoying a foreign land may bring different adventures and experiences. Not all of them will require a credit card. If you are spending the day hiking or hitting the open markets; there are not going to be very many opportunities to swipe. Lock your card in the hotel room safe along with your passport and other important bits and bobs.

You’ll probably only need your card for shopping in malls and boutiques or dining in upscale eateries. If you know this is what your day is going to entail; then you can bring your card along for the ride.

Secure Your Debit Card… Or Leave It Behind

Unlike your credit card, your debit card is linked to all the physical money you have in your bank account. This makes it even more dangerous to wave about a foreign place willy-nilly. Do you really need to take your debit card with you? If you must have your ATM card, is it possible to bring along the card without the debit feature?

Stolen credit card charges can be disputed and whilst waiting for the charges to be reversed, you are not yet out of pocket with the costs. Though debit card charges can be disputed as well; you’ve lost a good chunk of money in the meantime.

If you absolutely must bring your debit card with you, perhaps because you don’t have a credit card or non-debit ATM card: limit the amount of cash available in that particular account. Instead of keeping all RM10,000 of your savings in that account – transfer a good chunk of it to a
fixed deposit
 and limit yourself to say – RM500 or a number you’re comfortable with.

All said and done, we would recommend you leave the debit card at home and equip yourself with a
rewarding travel credit card
 instead.

Keep Your Bank Informed

Whether or not the operator on the other side is listening to you, it’s still only to your benefit to keep your bank informed of your impending travel dates. Give the general card centre line a call but also follow up with an email to give them something in writing letting them know when you expect to be travelling and where you’ll be going.

Even if you do not lose your card, some banks may prevent transactions from overseas thinking your card has been stolen. You can at least attempt to avoid such inconvenience by letting them know that you do intend to travel and use your card in that particular country.

Get the Most From Your Holiday

Avoiding the mess of a stolen credit card on your holiday is supremely important for a time abroad well-spent. But don’t forget to also use your card to the best of it’s abilities to score overseas points, cashback and services that give you more for your money.

Using the wrong credit card with bad conversion rates and measly benefits can see you spending so much more on your holiday than you anticipated. Check the benefits of the card you intend to take and the conversion rates generally offered compared to competing banks. If necessary; opt for a
new, improved, more rewarding card for your travels
.

Happy trails.

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Diana Chai

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Grab Brings Back Power Up Deal For December 2021, But Drops Pointsback Campaign

With December drawing to an end, Grab users will have a final chance in 2021 to earn up to 15x bonus GrabRewards Points via the monthly Grab Power Up campaign – happening for one day only on 31 December (tomorrow!).

Just as how it has been for
October
and
November
, you’ll be able to earn 7x bonus GrabRewards Points by making online purchases using GrabPay, and 15x bonus Points if you’re using PayLater by Grab – both capped at 10,000 Points. No minimum spend is required for you to tap into either of these rewards.

You can make use of the Grab Power Up deal at various online merchants, such as All IT Online, Machines, Applecrumby, Clarins, and more. Note that each user is allowed to make one redemption for each payment method, which means that you can technically earn up to 20,000 GrabRewards Points if you maximise the benefits of the deal via your purchases with both GrabPay and PayLater tomorrow.

Do also be aware that there is a maximum limit on the number of redemptions, capped at 35,000 redemptions for GrabPay and 7,000 redemptions for PayLater. Additionally, the bonus GrabRewards Points – which are awarded on a first-come first-served basis – will be credited instantly upon the completion of eligible transactions. Grab further clarified that Points awarded through this campaign will not contribute to a GrabRewards tier upgrade.

Meanwhile, users familiar with Grab’s monthly campaigns will inevitably also notice the absence of the usual Grab Pointsback campaign for December. For those who are unaware, Grab typically runs two campaigns at the end of every month: the Grab Power Up deal and the Grab Pointsback campaign. If activated, the Grab Pointsback campaign allows users to enjoy up to 40% pointsback when they redeem selected rewards, depending on their membership tier. It usually takes place over the last two days of the month.

Based on some queries made, Grab’s customer service representatives have confirmed that the Grab Pointsback campaign will not be hosted for December 2021. They are, however, unable to share if the campaign will make a comeback in January 2022, requesting users to “keep a close eye on your in-app notification” instead.

We will also continue to check for updates on this matter, and share future developments when they become available. In the meantime, enjoy this final round of Grab Power Up deal for 2021, and Happy New Year in advance!

(Source: Grab Power Up Deal [
1
,
2
])

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Enrich Campaign Offers Up To 25% Bonus Points For Credit Card Points Conversion

Malaysia Airlines (MAS) is back with yet another Enrich Points conversion campaign, allowing customers from participating banks to convert their credit card points to Enrich Points and earn up to 25% bonus points. On top of that, the campaign – which runs from today until 3 November 2021 – will also give you the chance to win a 3D2N stay at The Datai Langkawi.

Under this campaign, there are two points conversion offers available for eligible customers, depending on when you convert your credit card points:

Offer
Period
Early bird special
: Earn additional 25% bonus Enrich Points
4 to 6 October 2021
Earn additional 10% bonus Enrich Points
7 October to 3 November 2021

As many as 16 financial institutions are participating in this campaign, including selected foreign financial institutions such as American Express and Bank Danamon – which means that almost no one will be left out! Note that each bank will have its own conditions and minimum points conversion requirement though (or even exclusive offers!), so do check before proceeding with the procedure.

Overall, however, the conversion process is a fairly straightforward one. When you’re ready to convert your credit card points, just go ahead and contact the call centre of your bank or financial institution to kickstart the process. If your request is successful, the Enrich Points will be credited into your Enrich account within 14 working days.

Participants are allowed to make multiple conversions from any participating banks, and the converted Points will be valid for three years starting from the month it is credited into your account. Platinum Enrich members may, however, want to double check with MAS to see if their converted Enrich Points will qualify for the new
Lifetime Enrich Points feature
.

Naturally, you must be an Enrich member with an active Enrich account in order to tap into this offer. If you’re not yet an Enrich member but would like to participate in this campaign, you can do so by registering at the
Enrich website
 first.

Aside from the bonus Points, customers will also stand a chance to win a 3D2N stay at The Datai Langkawi (Canopy Deluxe rooms) by converting a minimum of 10,000 Enrich Points (cumulative conversions from multiple banks allowed). The winner will be selected three weeks after the end of the campaign period.

This promo is the latest in a line of similar MAS points conversion campaigns; back in 2020, MAS had also hosted a
Bonus Miles campaign
 (as Enrich Points was previously known) that also offers solely an extra 10% bonus Enrich Miles for such conversions.

(Source:
Malaysia Airlines
)

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Selected Grab Users Can Now Book Rides In Japan And The Middle East

Grab users from Singapore and the Philippines are now able to use their Grab app to book rides in Japan and the Middle East when travelling to these regions. The two countries will be the first within Southeast Asia to enjoy this new feature, with other ASEAN countries to follow by next year.

The new function will list the countries’ local transport services under the Transport section when the user opens the Grab app in the foreign country. They will be able to pay for their rides with the GrabPay e-wallet in their home currency (instead of the foreign currency GrabPay wallet as is the case today), as well as earn reward points that are valid back home.

This new feature also means that users do not need to go through the hassle of downloading and registering with the local ride-hailing apps in the countries.

Additionally, the app bridges linguistic gaps as it will be set to the user’s native or preferred language, with the in-app messaging feature automatically translating messages sent between passengers and drivers.

That said, users are reminded to set up and verify their GrabPay e-wallet, and ensure there is enough credit before departing to ensure a stress-free experience abroad.

This effort is part of Grab’s partnership with
Splyt
, a global mobility marketplace, to offer a convenient ride-hailing solution for travellers internationally.

Ride bookings in the two regions will be fulfilled by JapanTaxi in Japan and Careem in the Middle East respectively. This service is available in 5 cities in Japan and 13 countries in the Middle East:

Japan (cities)

Tokyo, Kyoto, Nagoya, Sapporo, Okinawa

The Middle East (countries)

UAE, Qatar, Iraq, Oman, Turkey, Jordan, Morocco, Egypt, Saudi Arabia, Bahrain, Lebanon, Kuwait

(Source:
The Star
,
Grab
)

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KLIA Will Soon Upgrade Its Facilities, Including Baggage Handling System And Aerotrains

(Image: Miera Zulyana)

Kuala Lumpur International Airport (KLIA) will soon be seeing an upgrading of its facilities, starting with the replacement of the baggage handling system (BHS) and aerotrains.

According to an announcement by the Malaysia Airports Holdings Bhd (MAHB) back in May 2019, the asset replacement exercise will take place over the next three years. It will cost about RM500 million to RM600 million to accomplish.

“The board of directors of MAHB has approved the BHS replacement exercise, and work is in progress to appoint consultants for the design and supply of the system. The replacement of the aerotrains is also in the final planning stage,” said the acting group chief executive officer of MAHB, Datuk Mohd Shukrie Mohd Salleh.

(Image: The Edge Markets)

Aside from replacing such assets, KLIA is also likely to see expansion plans in the near future so as to encourage further growth. This comes as part of MAHB’s ongoing efforts to expand its airports that are reaching their capacities.

“We are currently working closely with the government to development to develop a new masterplan for KLIA and other international and domestic airports under our operating agreements (OAs),” said Shukrie.

Shukrie further added that KLIA has a combined capacity of 75 million passengers per year, and the current traffic is only 62 million. However, the airport would still benefit from an expansion that features optimisation and technology enhancements.

Among some of the new technologies to have been recently introduced at KLIA includes Malaysia Airlines’ trial run of the
Single Token system
, a security measure that utilises facial recognition.

The upgrade is slated to go on even though the government is still reviewing MAHB’s regulated asset base (RAB) framework. The RAB framework is essentially a funding model that locks the development and maintenance expenditure for MAHB at RM4 billion from 2020 to 2022. It was originally scheduled to start on 1 January 2020, but was withdrawn after former Transport Minister Anthony Loke decided to look for alternative funding models for airport developments.

(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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Celcom Offers Up To RM360 Rebates And Free Smartphone With Affordable Monthly Data Plans For B40

While the internet was already an integral part of our lives pre-Covid-19, it has become indispensable after, especially during lockdowns. We rely on it to live sufficiently without having to leave the safety of our homes.

We’re able to get our daily essentials, pay our bills, work, and even study from home, all thanks to the internet. Hence, the government has joined hands with local telcos and initiated the Jaringan Prihatin Programme to help subsidise mobile devices and data plans so that they can be more affordable for the B40.

In line with that, Celcom has rolled out packages that include additional rebates, free 4G smartphones, limitless data plans, and more. Find out what Jaringan Prihatin benefits are being offered by Celcom now.

***

Having access to the internet these days helps us remain connected with family, friends, and the outside world while staying safe. The Jaringan Prihatin Programme is initiated to give the B40 easy access to the internet through subsidised packages that offer mobile devices and data plans. You may check your eligibility
here
.

Whether you’re looking to upgrade your existing plan or get a new smartphone, Celcom has some great packages that may suit your needs at subsidised prices. So, check out their packages today before the campaign ends on 31 August 2021.

Find out more about Celcom’s packages
here.

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    ombra datu molok

    2 years ago

i like celcom

-1

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    ombra datu molok

    2 years ago

good n amazing

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Unclaimed And Forfeited E-Tunai Credit Will Be Returned To The Government

(Image: The Sun)

From the time the e-Tunai Rakyat initiative was launched about a week ago, many Malaysians have questioned what would happen to any unclaimed or forfeited RM30 e-credits.

Senator Alan Ling has stepped in to clear the air on the matter, saying that any e-credit not claimed by the registration deadline of 9 March 2020 will be returned to the federal government. The same goes for forfeited e-Tunai credits that are not utilised by 14 March 2020.

It has been previously determined that all eligible Malaysians must claim their e-Tunai Rakyat incentive by 9 March 2020, and spend them by 14 March 2020. Any unused balance will be forfeited and removed from the user’s e-wallet account.

Ling, who is also the secretary of Pakatan Harapan Sarawak, asserted that the incentive is meant for the people, not the
three e-wallet partners
 selected for the programme.

“This RM30 incentive is for the people, if it is not claimed by next March 9, it will be returned to the government,” said Ling. He also urged traders to register and sell online as it would boost their income.

As of 9 p.m. on Sunday (19 January 2020), 2.9 million applications have been received for the
initiative
, with 2.2 million being approved. The total disbursement as of then amounted to RM66 million.

(Source:
The Sun
)

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Alex Cheong Pui Yin

Alex Cheong Pui Yin

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Win 6 Million BIG Points Through AirAsia BIG Loyalty’s New In-App Game

AirAsia BIG is rewarding its members with more than 6 million BIG Points in conjunction with its 10th anniversary celebration and the upcoming Chinese New Year festive season. To win some of those points, all you have to do is play the “Points Catcher” game that was recently launched on the AirAsia BIG mobile app, available now until 24 January 2020.

Inspired by claw machines, the mechanics of “Points Catcher” will be very familiar. You will have to manoeuvre a virtual claw to pick up a mandarin orange emoticon, with each emoticon containing an amount of BIG Points to be won. The highest amount up for grabs (literally) is 888 BIG Points.

To be an even bigger winner, you can log in and play every day during the 10-day campaign to take advantage of the daily BIG Points multiplier in the game. Aside from increasing the points that you have won on that particular day, the value of the multiplier itself also grows daily when you log in and play on consecutive days.

(Image: GOASIAPLUS)

Established in December 2010, AirAsia BIG Loyalty was originally founded as an airline loyalty programme for AirAsia, but it has since flourished to become a comprehensive lifestyle platform with over 300 brand partners. It is owned and operated by BIGLIFE Sdn Bhd.

“We are very proud to celebrate this milestone. In the last ten years we have been innovating our products and transforming our company, and now we are very excited to see what our future has to offer,” said the chief executive officer of BIGLIFE Sdn Bhd, Spencer Lee.

To play the “Points Catcher” game and win yourself some of the 6 million BIG Points, download the AirAsia BIG app from the
Apple App Store
 or
Google Play
.

(Source:
AirAsia BIG Loyalty
)

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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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ShopeeFood Expands To Johor Bahru, Offers Up To 40% Discount And Free Deliveries

Shopee has now expanded its food delivery service, ShopeeFood, to Johor Bahru, with users in the area able to make orders on the platform starting from today (24 February 2022). However, the expanded service is currently available only in selected areas within Johor Bahru, such as Tampoi, and Setia Tropika – although it is set to include more areas soon.

Prior to this latest update, ShopeeFood – which was
launched back in September 2021
 – was accessible only to Shopee users living in the Klang Valley. This expansion to Johor Bahru is ShopeeFood’s first foray outside of the Klang Valley.

In a statement, ShopeeFood said that the new service will feature a range of international and local food merchants that are available in Johor Bahru, including Shake Shake, Soon Café, Banafee Village, Gatao Fried Chicken, and Anmour Café.

(Image: The Star/Art Chen)

“We are delighted with the positive response that we have received in Klang Valley and would like to bring the same convenience to Shopee users in Johor Bahru. We hope that this service will not only benefit users by offering more choices, but also encourage more food and beverage merchants to move online and reach out to more customers, driving long-term growth in the digital age,” said the head of business development for ShopeeFood Malaysia, Wong Chee Mun.

In conjunction with ShopeeFood’s expansion to Johor Bahru, users will be able to enjoy a variety of perks between today until 28 February 2022. These include free deliveries, discounts of up to 40% on selected food and beverages, as well as exclusive access to a contest with prizes such as KitchenAid products and ShopeeFood vouchers worth up to RM8,000.

(Source:
Shopee
)

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Maybank Guaranteed Gift Balance Transfer

If you are struggling with mounting credit card debt perhaps

it’s time to consider a balance transfer plan.
Maybank’s

Guaranteed Gift Balance Transfer
 campaign promises interest rates as low as

8.88% p.a. for 36 month. As further incentive they are throwing in a free gift

for balance transfers of RM10,000 and above.

Existing Maybank customers who successfully apply for a

balance transfer between RM10,000 to RM29,999 will qualify for a wifi only iPad

Mini 16gb while successful customers with a balance transfer of RM30,000 and

above will receive a Samsung Galaxy S4.

This campaign runs from 1 July till 31 October 2013 and is

only available to all Principal Maybank and Maybank Islamic credit card cardholders.

For further details please check out the
Terms &

Conditions
 of this campaign.

You can
apply online
 for this balance transfer and jumpstart your journey towards

financial freedom.

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Malaysia Airlines Offers Lazada Voucher Redemptions Using Enrich Miles

Malaysia Airlines has officially rolled out the ability for its Enrich frequent flyer programme members to redeem their accumulated air miles into Lazada vouchers.

The airlines actually ran an offline campaign in from mid-July to August this year that allowed Enrich members to redeem RM50 Lazada vouchers using their Enrich air miles. However, this could only be done at the Malaysia Airlines Ticket Office in Nu Sentral – even though an online Google Forms claiming to be part of the campaign was widely circulated as well.

It appears the response has been good enough that Malaysia Airlines has now integrated it into its Enrich online portal – though again, it’s for a limited time only. From now until 31 October, Enrich members can now redeem RM50 Lazada vouchers for 4,000 Enrich Miles, with a maximum of five vouchers per Enrich member.

To redeem the RM50 Lazada voucher, Enrich members can log in to the Enrich website, and click “Redeem” on the left panel, and then click on “Lifestyle Vouchers”. On the page, simply enter the number of RM50 Lazada vouchers you’d like to redeem, and click “Submit”. The e-voucher codes will be sent to you via email.

In an EDM sent to Enrich members, it appears this voucher redemption is designed for members whose Enrich Miles are expiring. Of course, any Enrich member can redeem the vouchers, but let’s take a look if it is worth doing so.

Is it worth redeeming 4,000 Enrich Miles for a RM50 Lazada Voucher?

Besides redeeming flights, Enrich Miles can also be used to
redeem Enrich RM50 vouchers
 that can be used in-flight to purchase duty-free items or the Serai group of restaurants. Miles can also be used to redeem access to the Golden Lounges in Malaysia and London ranging from 7,000 Miles to 20,000 Miles.

If you’re not flying anytime soon and your Enrich Miles are expiring, the RM50 Lazada vouchers are the best option because the Enrich RM50 vouchers cost a total of 5,750 Enrich Miles to redeem (5,000 Miles + 750 Miles for processing fees). That’s 43.75% more Enrich Miles for the same redemption value!

However, if your Miles are not expiring anytime soon and you are accumulating for a flight redemption in the near future, we suggest you continue accumulating your Miles as you’ll unlock more than three times more value out of your Enrich Miles by redeeming a flight and not a stack of RM50 Lazada vouchers. Yes, more than three times.

Let’s break it down by first determining how much value you gain from redeeming the Lazada voucher:

50 / 4000 = 0.0125

That means 1 Enrich Mile is worth 1.25 sen when redeeming the RM50 Lazada voucher.

Now, let’s see how much 1 Enrich Mile is worth when redeeming a flight. We do this by taking a flight six months from today to a popular destination, and compare its flight ticket price and the amount of Enrich Miles required to redeem it.

Kuala Lumpur -> Osaka, 16 – 20 April 2020

Therefore, RM2,071 can be redeemed for 48,600 Enrich Miles. Calculating the value of 1 Enrich Mile:

2071 / 48600 = 0.0426

That means 1 Enrich Mile is worth 4.26 sen when redeeming a flight on Malaysia Airlines – 3.41 times more value than redeeming a RM50 Lazada voucher.

So really, redeem the RM50 Lazada voucher only when your Enrich Miles are expiring – the Enrich website and statement will clearly state how many Miles will expire in the coming months. If you don’t have any Miles expiring, keep it to redeem a flight – it’s more than three times more worth it!

Beware the validity period

But here’s a really weird clause: the e-vouchers redeemed expire on 31 October 2019, the same day the redemption campaign ends! Here’s a screenshot of the promotion page (which is also visible on the EDM sent to Enrich members):

Clearly, it sounds a bit odd, so I reached out to Malaysia Airlines’ customer service via Facebook – and they appear to confirm that the e-vouchers redeemed would indeed expire on 31 October 2019.

I’m sure there is some error and/or miscommunication on this, so since I have some Miles expiring, I decided to redeem an e-voucher.

The process is instant, and the email was sent almost immediately (very impressive!) However, the email confirms that the e-voucher indeed expires on 31 October 2019. Yikes.

.

Now, here’s where things get even more complicated. I found out a friend had also redeemed a voucher as his Enrich Miles was also expiring. Interestingly, his voucher expires on 21 October 2020 – a full year of validity.

Thanks for the screenshot, Tekong!

Therefore, considering the inconsistent voucher validity period and the relatively low value you get from redeeming these vouchers, we really recommend doing this

only

if you have Enrich Miles that are expiring and you don’t have other uses for it.

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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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A Step by Step Guide to Filing Your Income Tax Online

While not everybody earns enough to have to pay income tax, we’re all still required to file them. Filing your income tax is important since it allows the government to know how many people make how much money so they can then plan out their policies and ordinances to benefit the right kind of people at the right time.

If you’ve never filed your taxes before, the different forms, exceptions, and rules can be intimidating. But don’t worry. We’ve prepared this super simple guide to filing your taxes online. Let’s get started.

Register Yourself as a Taxpayer

Much like how the government uses your MyKad number to know who you are, so do they need an income tax number to know how much you’ve been earning.

To obtain one, you can visit your nearest LHDN branch and bring along a copy of your MyKad and recent payslip.

You can also do this online via e-Daftar by filling in an online form and emailing them a scanned copy of the same documents.

Once you’ve done this, you will receive your income tax number in the mail within the coming workweek. Alternatively, you can give them a call and ask them if your number is ready by using your application number (given when you apply) for reference.

Okay, I Have My Income Tax Number. Now What?

Now you need to register for ezHASiL e-Filing by:

Visiting your nearest LHDN branch with your MyKad. You will receive a PIN number that you should note down and keep somewhere safe.

Then, you need to go to
ez.hasil.gov.my
 and click through to “First Time Login”.

Fill up your PIN number and MyKad number on the page and click “Submit”.

Review the information shown on the screen and make sure it’s correct. Click the “Agree” and “Submit” buttons.

Once this is done, your e-Filing account and digital certificate will be registered and you are now ready to proceed with filling in the Income Tax Return Form through ezHASiL.

Read Also:

Last Minute Tips Income Tax Tips

Great! How Do I Do That?

Make sure you’re logged in before you proceed with these steps:

Under the e-Filing section, click on “e-Borang”, which will take you to the e-Filing tax forms.

Choose the income tax form e-BE, and choose the current assessment year.

Ensure the details are up to date and correct them if necessary.

Key in the details of your income according to the relevant categories.

Don’t forget to fill in the total of your monthly tax deductions (potongan cukai bulanan, or PCB), if applicable.

If you have undeclared income from previous years, you need to declare them under the “Pendapatan Tahun Kebelakangan Yang Belum Dilaporkan”.

Remember to fill in your tax reliefs, rebates, and exemptions wherever applicable.

After you’ve filled in all the details, the system will automatically calculate your taxes and show you how much you owe in taxes (or how much they owe you in rebates). The last step after this is to:

Read through the final statement and verify that all the information on it is true.

You then need to electronically sign the form and send it in.

And that’s all it takes to file your taxes online. As long as you follow these steps, you’ll be filing your taxes like a pro every year. Once you reach the final page of the form, you will be presented with information on how to pay your taxes as well. Easy peasy.

Do you have anything to add to this guide? Feel free to share your thoughts, ideas, or questions with us in the comments section down below!

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Top 5 Outdoor Activities You Can Do Without Leaving KL

The great outdoors does not have to be strictly for the adrenaline junkies. There are a bunch of amazing outdoor activities in Kuala Lumpur that you can do without travelling for hours.

With the school holidays and the upcoming year-end holidays here, get yourself and your family to experience the outdoor activities our city has to offer! Here are a bunch of fun outdoor activities you can do in KL that will are not only insta-worthy, but a great way to spend a weekend with friends and family as well!

1. Eco Fun Ride

If you have yet to enjoy the many wonders of Lake Garden, this is one of the most compelling ways to explore the wonderful Orchid Garden, Hibiscus Park, Deer Park, and many other parts of the park.

You won’t even have to do any walking while you’re there, just hop on to the personal electric Segway and ride around the park at leisure. The tour is a little pricey, at
RM299
, but it’ll definitely be a fun and educational treat for you and your family.

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2. Orbing

If you fancy doing something crazy, how about stuffing yourself into a giant plastic orb and roll down the hill at high speed? An outdoor activity company called
Funzy Events
 can make that happen. You run in the orb and roll around or down the hill like a hamster, or even float around in the water!

According to Asia City Online, the activities are available in Titiwangsa Lake, Kuala Lumpur, The Heritage Village, Seri Kembangan, or The Cruise Tasik, Putrajaya. Prices are not up on their website, so you will have to give them a buzz to follow their events.

3. One Day Pilot

Ever dreamed of being a pilot? Now you can experience exactly how it feels like to be a pilot through a Flight Simulator programme at
One Day Pilot
! You get a peek inside an actual airline training centre, and have the privilege to try their Motion Flight Simulator, usually used to train commercial pilots.

The extremely realistic simulator will make you feel like you’re actually flying a commercial plane – and you even get a co-pilot to help you along the way! The packages start from RM699 for a single trip and becomes more expensive with additional sightseeing pax.

4. Flyboarding

This one is a little ways from the Kuala Lumpur city area, but still within the Federal Territory (Wilayah Persekutuan), just in the vicinity of Putrajaya.

Flyboarding
 is an adventurous water sport activity which allows you to float and glide over the water – on a board. The board is attached to your feet and the powerful water pressure keeps you in the air and allows you to freestyle and perform all kinds of stunts over the lake. The rates vary from a single person to group bookings and you can send them a booking enquiry to find out their current rates.

5. Hot Air Balloon Adventure

If you are exploring the Putrajaya side of things, you should try out the hot air balloon adventure. For
RM230 per person or RM1,000 for a private tour
, you get to be lifted up in the sky and feel like you’re floating in a basket tied in balloons – just like a certain animated movie that made everyone (we know) cry.

It’s a unique experience, and you can float among the clouds for approximately 45 minutes while taking in the view from up high and take wonderful pictures to make everyone jealous remember it by. Perfect selfie ever? Check. You can’t change your course, but rather just float according to the whims of the wind, but your pilot will make sure you land safely.

In Case the Fun Ends Up the Wrong Way…

These amazing activities and adventures are a lot of fun, but it does come with a certain level of risk. While these activities are perfectly legal and meet all the standard safety guidelines, we can never be too careful. Make sure all your insurance policies are up to par as well.

If you do not already have one, head on over to our
medical insurance comparison page
 and choose one that not only covers you for severe injuries, also critical illnesses – in case any other health scares come about.

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Gavin Pereira

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Kaodim Announces Closure, All Operations To Cease On 1 July

Online home services marketplace Kaodim has announced its closure, with operations set to cease in all four of its key markets in Southeast Asia, namely Malaysia, Singapore, Indonesia, and the Philippines. This will take effect starting from 1 July 2022.

In an official note on the Kaodim blog, co-founder and chief executive officer Choong Fui Yu expressed heartfelt regret at the decision, but said that the business had been badly affected by previous Covid-19 lockdowns. This is despite a strong recovery after the reopening of Malaysia’s economy.

“The prolonged Covid lockdowns and their ‘knock on’ effects in the form of operational disruptions, labour shortages and higher running costs (especially on the service provider side) have significantly impacted our business and the quality of service we are able to deliver. More recently, these challenges have compounded further with inflation and rising costs. This has affected customer demand, service provider fulfilment, margins and in turn, our earnings,” said Choong, adding that against this backdrop, Kaodim was unable to grow meaningfully for the long-term.

With this, users’ registered accounts and data will be deleted from Kaodim’s database by the end of June 2022. Meanwhile, any bookings that were made for dates beyond 1 July will no longer be managed by Kaodim. Instead, customers are required to contact with and make their payments directly to the service providers engaged.

Choong further commented that he was proud of various things that Kaodim had been able to achieve through its business, including delivering first-class home services to its customers. On top of that, it created job and business opportunities worth hundreds of millions for its service providers, as well as empowered and helped them improve their craft.

“We are tremendously proud of everything we have achieved, and forever grateful to all of you who came along with us on this journey,” Chong stated. He also noted that Kaodim will honour its obligations to its employees by “providing all we can in notice and severance payments”.

Kaodim first opened its doors in Malaysia back in 2014, and was able to hit
US$10 million in gross merchandise volume (GMV)
 within just the first four months. Subsequently, it obtained several rounds of funding to expand its business further across Southeast Asia.

(Sources:
Kaodim
,
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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Banks To Implement BNM’s Five Key Measures To Combat Financial Scams

(Image: The Star/Muhamad Shahril Rosli)

Three bank associations in Malaysia, representing all the banks within the country, have pledged their “concurrence and full support” for the five new additional measures that were recently outlined by Bank Negara Malaysia (BNM) to combat financial scams.

In a statement, the Association of Banks in Malaysia (ABM), the Association of Islamic Banking and Financial Institutions Malaysia (AIBIM), and the Association of Development Finance Institutions Malaysia (ADFIM) recapped the
five key measures that had been revealed
, and agreed that the five key measures are crucial. Among some of the new safeguards announced by BNM’s governer, Tan Sri Nor Shamsiah Mohd Yunus, included the migration from SMS OTPs to other more secure authentication methods, as well as the implementation of cooling-off periods for first-time enrolment of e-banking services or secure devices.

In putting these measures into practice, however, the three associations highlighted that customers can expect to encounter a certain degree of delays and inconveniences. For example, the implementation of the cooling-off period means customers will temporarily lose access to online banking transactions when they enroll in e-banking services or secure devices for the first time. Additionally, customers may receive more prompts or notifications from banks if unusual activities are detected, and online banking transactions could potentially take a slightly longer duration due to added security measures and checks.

“In view of this, we humbly seek customers’ patience and understanding on the expected delays and inconvenience that they may face once these measures are implemented. These measures, however, are crucial for the added safety and security of the banks’ customers,” the associations said.

Furthermore, ABM, AIBIM, and ADFIM noted that they will ensure proper communication of necessary details in relation to the implementation of the above measures. These include the implementation dates, changes to processes and action required on the part of the customers, and contact details for further assistance.

Meanwhile, customers are reminded to continue staying vigilant when conducting online banking transactions. For instance, they are advised to avoid downloading installation (APK) files from unverified sources or clicking on links sent via chat messages. Accountholders who encounter suspicious transactions are also urged to notify their banks immediately, as well as lodge a report with the
Commercial Crime Investigation Department (CCID) Scam Response Centre
 and the police.

Moreover, the public can refer to their individual banks’ websites and social media pages for updated information on scam tactics and security practices to adopt.
ABM
,
AIBIM
, and BNM’s
Amaran Scam social media page
, too, contain crucial information on these topics.

(Source:
ABM
)

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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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Ministry of Transport: Expired Road Tax And Driving Licences Exempted During MCO

(Image: The Star)

Drivers with expired driving licences or road tax have been excused from renewing their documents during the ongoing period of movement control order (MCO), according to Transport Minister Datuk Seri Dr Wee Ka Siong.

“Anyone who has an expired driving licence can still use their respective vehicles on the condition that the vehicle has valid insurance coverage,” said Dr Wee. He further advised drivers to bring a copy of their insurance certificates or e-cover insurance notes when driving.

The directive is applicable to those holding the competent driver’s licence (CDL), public service vehicle (PSV) licence, and goods driving licence (GDL). GDL holders will also be exempted from Puspakom inspections and health checks during the MCO period.

(Image: Free Malaysia Today)

That said, all expired licences or road tax must be renewed within 30 days after the MCO is lifted. Prior to this, drivers were told to make their renewals online via the mySikap JPJ and MyEG portals during the MCO period.

According to Dr Wee, the Transport Ministry had decided to adopt this new measure instead after discussing it with various stakeholders, such as the General Insurance Association of Malaysia (PIAM) and the Takaful industry.

“Most importantly, this is done with the purpose of ensuring the supply of essential goods, especially food, to the
rakyat
 will not be interrupted during the MCO period,” said Dr Wee.

(Source:
The Star
)

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Wee Ka Siong

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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Tun M: Repeg Ringgit To US Dollar

(Image: Utusan Malaysia)

Tun Dr Mahathir Mohamad has proposed for the government to once again employ a currency peg in addressing the ringgit’s current fluctuation in the foreign exchange market. This method – which was first introduced by the former prime minister during the Asian financial crisis (AFC) back in 1997 – will see the ringgit pegged at RM3.80 to the US dollar (US$).

Tun Dr Mahathir remarked that the ringgit’s fluctuation is caused by the fact that its value is not fixed and guaranteed by the government.

“When we set the value of the ringgit at RM3.80 per US dollar, and we guarantee the supply of US dollars to anyone willing to pay RM3.80 for 1 US dollar, then the value of the ringgit will no longer fluctuate. Even currency traders could not affect the ringgit by dumping it to depress its value,” said Tun Dr Mahathir, adding that it is even more crucial for the ringgit’s value to be stabilised now amidst the ongoing global economic uncertainty.

(Image: The Star)

The former prime minister also stressed that a currency peg at this point in time will also offer some security to businesses that must transact and deal in foreign currency. Without the peg, they could be heavily affected by the severe fluctuation in the ringgit’s value, he said.

Finally, Tun Dr Mahathir acknowledged that while this policy was heavily criticised when it was introduced during the AFC, financial institutions such as the World Bank and International Monetary Fund eventually agreed that it helped to restore the country’s finances. The peg was eventually lifted in 2005.

To note, Malaysia’s currency recently saw a sharp decline of 4.3% in value against the US dollar since March 2022; it is currently trading at about 4.38 to the dollar, as compared to about 4.20 during the start of 2022. This decline is attributed to the likelihood that the US Federal Reserve may soon raise interest rates, in a move to tighten its monetary policy.

(Sources:
Malay Mail
,
Free Malaysia Today
)

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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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    Siva

    1 year ago

Good write up

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Is Standard Chartered Launching A New Credit Card Soon?

Standard Chartered Bank may be launching a new credit card soon, and it may be called the Standard Chartered Smart credit card. This comes following a recent notice that was released by the bank recently.

In the
notice
, Standard Chartered announced that selected Visa Rewards Platinum cardholders “will have their credit card converted to Standard Chartered Smart credit card, with revised benefits.”
. This “Standard Chartered Smart” credit card is not listed anywhere on SC’s Malaysian website, so it is very likely that it will be a new card that may replace or live alongside the Visa Rewards Platinum card.

After some research, we found that SC does have a credit card with a similar name in the Indian market:
the
DigiSmart
 credit card
.
Providing
 benefits that primarily reward online spend,
DigiSmart
 credit cardholders can get up to 20% rebate when they make
 specific
 purchases with selected online merchants
. Th
e
 rebates
 include fashion, food, and travel expenses – among
several
others.

That said, it remains to be seen whether
this Standard Chartered Smart credit card
 will offer benefits that are similar to the
DigiSmart
 credit card.
We will continue to keep an eye out for any
updates
 of a new credit card launch by Standard Chartered, so do stay tuned.

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Govt In Talks With Banks To Discuss Possible Rahmah Banking Services

(Image: Malay Mail/Firdaus Latif)

Domestic Trade and Cost of Living (KPDN) Minister Datuk Seri Salahuddin Ayub said that he will be meeting key players in the banking industry soon, in a bid to assess and discuss the possibility of offering affordable banking services under the Payung Rahmah initiative.

“Maybe there will be a good result from the meetings. Maybe there will be a Rahmah banking service that we can offer to any segments: perhaps housing, maybe loans, maybe financing from banks that is more
rahmah
 to Malaysians,” said the minister, adding that he will be accompanied by the Minister of International Trade and Investment Datuk Seri Tengku Zafrul Abdul Aziz to these meetings.

The minister also hopes that these discussion sessions could result in the brainstorming of innovative product ideas for the people. Ultimately, the aim is to make banking services more inclusive and accessible to all Malaysians, and provided with more compassion.

(Image: The Star/Muhamad Shahril Rosli)

Datuk Seri Salahuddin further commented that it is only expected for the government to want to include banking services now as the Payung Rahmah initiative has grown way beyond its original scope to cover multiple industries.

For context, the Payung Rahmah initiative
originally began with four programmes
 when it was first rolled out at the start of this year: Bakul Rahmah, Kafe Rahmah, Jualan Murah Rahmah, and Barangan Rahmah. Subsequently, it was expanded to include other packages, such as
Menu Rahmah
,
Rahmah Eyeglasses Package
, and most recently,
Rahmah Insurance and Takaful Packages
.

(Source:
Malay Mail
)

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About THE AUTHOR

Alex Cheong Pui Yin

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How Motor Insurance De-Tariffication Will Benefit You as A Consumer

The motor insurance de-tariffication is all the rage among Malaysians now, so much so that you can almost hear all the
Pakciks
 and Uncles debating about this hot topic at the
mamaks
 while reading this article.

While you may already know
how it will affect you as a driver
, how familiar are you with the benefits it can offer you as a consumer?

Here are some of the benefits of motor insurance de-tariffication that you should know about, because after all, the more you know, the more you can control your finances.

Cheaper Premium Rate

Unlike before, your motor insurance premium will now be calculated based on your driver’s risk profile. This includes your age, gender, claims history, occupation, traffic record, and even the type of car you drive.

What this means is that even if you and your spouse have been driving the same car that you both bought at the same time as a symbol of your everlasting love, your motor insurance premiums will
not
 be the same. The good news is that you have the opportunity to lower your premium by taking steps to lower your driver’s risk.

This can be achieved through several ways, such as:

• Installing safety and security features on your vehicle.

• Driving carefully at all times to ensure you don’t get into accidents and make insurance claims.

• Keeping a clean traffic record.

Find out more tips on how you can lower your premium on our
5 Things You Can Do To Lower Your Motor Insurance Premium
 article!

Better Product and Add-on Variety

Now that the insurers have more flexibility in terms of pricing and product packages, you can expect a whole new range of motor insurance products and add-ons to suit the needs and budgets of every market group imaginable!

This is quite a significant change, as you will be exposed to new price ranges as well as coverage packages and add-ons. Some might be cheaper and affordable for the lower income drivers, such as special student packages and basic coverage plans. Others might be more comprehensive and higher in price, targeting those who prefer to have an all-inclusive and extensive protection.

Better Customer Service Quality from The Insurers

You can bet that there will be an all-around competition among the insurers to win you as a customer, and along with offering lower and better motor insurance products, insurers are sure to beef up on their services to attract more customers.

That doesn’t mean that you can expect to be treated like kings and queens, though. But, it’s safe to presume that insurers all over the market will improve on their customer service, offer better online and offline services, as well as work on faster claim payout.

Empower You with Freedom of Choice

Gone are the days when most of the motor insurance package offered in the market is pretty alike & not much difference in pricing too. Instead, you’ll have the freedom to choose the coverage you want and need from a whole new range of motor insurance products and add-ons in the market.

You can compare the offered motor insurance plans in the market on comparison websites, and shop around for the best coverage and prices based on your needs.

Helps Create a More Financial-Savvy Community

The more adept a community is at knowing how to choose the best financial product for their needs, the more financial-savvy the community will be – and that includes you. By frequently comparing plans, prices, as well as knowing what works best for you, you’ll empower yourself – and in extension, your community – with better financial literacy.

For now, it seems like the de-tariffication will bring positive changes to our motor insurance market, as it will encourage Malaysians to drive responsibly and encourage safe behaviour on the road. As a consumer, though, always remember that the cheapest isn’t always good for your finances, a good customer service and track record of the insurer should be a part of your deciding factors too.

Be sure to do your research and ask around on what coverage suits you best before shopping around for the best-priced motor insurance product. It’s also good to buy products from trusted and established insurer such as RHB Insurance. Have a look at their
website
 to find out their latest motor insurance products today!

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GST and Reduced Subsidies: Malaysians in for harder times

Brace yourself, Malaysians: the coming years are going to be tougher than ever.

If you thought it was bad that the price of everything is steadily increasing; that property was all but out of reach and hardly any of us has enough money for a proper retirement; think again. If the news reports are anything to go by, what the new budgets and policies planned will do is ensure the final nail is driven into the coffin of the average KL-ite’s spending power.

In reports across every newspaper, Treasury secretary-general Tan Sri Dr Mohd Irwan Serigar Abdullah said what we all feared but knew to be coming:
the Goods and Services Tax is no longer an option: it WILL be implemented
. It is now only a matter of time.

“GST is a must; it’s not an option already. We are trying our

very best to include it in this year’s budget, maybe if everybody agrees. “If

the government announces, it will take about 14 months to implement,” he said. “If

they announce this year, then it would come on line in 2015,” he added.

The move is said to be done to deal with the nation’s fiscal deficit that has reached RM14.9 billion. The GST will give the country another source of income besides Petronas.

In the same breath; it was also
announced that subsidies are set to be completely removed albeit
 via a gradual stage process. Through the same bearer of bad news, Treasury Secretary-General Tan Sri Mohd Irwan Serigar Abdullah tried to ‘soften’ the blow by enveloping it in pretty prose, describing the removal of subsidies as “a gradual sort of liberalisation towards the market”.

He went on to say that the subsidies benefitted those who didn’t really deserve it: namely the owners of multiple vehicles. The money saved from the subsidies could be channelled towards the Bantuan Rakyat 1 Malaysia (BR1M) cash handouts to the more deserving.

So in between the privileged class and their multiple vehicles; and the ‘more deserving’ urban poor who qualify for the BR1M handout will lie the already struggling, ever-growing middle class who will remain on constant brink of financial abyss: paying more for unsubsidised goods and GST yet not benefitting from any cash assistance.

The storm is coming. And we can’t afford raincoats.

At last, there is a glimmer of hope. The government announced the GST rate of 6% will be reduced to
zero percent
, with effect on June 1, 2018.

*Picture courtesy of Two Hundred Percent at Wikimedia Commons.

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AIA Malaysia Aims To Emerge Stronger In 2021

AIA Malaysia is looking to work towards a stronger 2021 with its digital transformation efforts and Total Health Solution mission, while also assisting Malaysia in its economic recovery process along the way.

Despite the horrors of the Covid-19 pandemic, there were a few silver linings. For instance, an AIA study last year revealed that Malaysians who had no plan to purchase protection plans before the pandemic are now more interested to do so. Meanwhile, AIA and other insurance and takaful companies swiftly
added Covid-19 protection in existing policies at no extra charge
. In 2020,
AIA added free Covid-19 protection
 to over 7 million policies, and paid out over RM10 million in Covid-19 claims.

There was also a fundamental change in how Malaysians worked, as the new norms encouraged less physical engagements. As a result, Malaysians are now more comfortable with conducting more things online, from groceries shopping to client meetings. This complements AIA’s digital transformation efforts, alongside offering new products to better fit today’s lifestyles such as the
AIA Online Shield
 which was exclusively sold in Shopee, as well as a
mental health benefit
 in some of AIA’s medical plans.

AIA General Berhad CEO, Eric Chang also noted that there will be more innovative solutions on their way, such as protection for smartphones and electronic devices, goods in transit protection, as well as third-party extended warranty protection. AIA General is also actively looking at forming partnerships to form these new products, such as e-wallet companies, telcos, and e-commerce websites.

AIA’s health and wellness app, AIA Vitality, also served as an example of AIA’s mission to help Malaysians “stay out of the hospital”, as AIA Malaysia CEO Ben Ng puts it. With the belief that a balanced lifestyle and good health complements medical protection needs, AIA Vitality promotes good lifestyle habits via gamification techniques and earn rewards.

Meanwhile, AIA Public Takaful Berhad (APTB) is aiming to increase the takaful penetration rates in the country this year in light of the heightened awareness of protection in Malaysia. APTB CEO Elmie Aman Najas noted that family takaful penetration rates is only around 16.9%, compared to 35-40% for general insurance in Malaysia.

On that front, APTB is looking to increase the penetration rate with a mix of innovative solutions including new products that follows the Value-Based Intermediation principles and meets the needs of today’s customers. In addition, APTB is also investing in the expansion of its agency network to drive financial inclusion.

On a related note, AIA is also aiming to assist Malaysians affected by the economic effects of the pandemic. The company noted that there are great talents seeking employment and is now actively hiring both internal staff for its Technology, Digital, & Analytics plan, as well as AIA and APTB Life Planners through its AIA Elite Academy and its various development programmes.

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

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Maybank’s Campaign Offers Up To RM300 Cashback For Amex Credit Cardholders

Between today until 31 December 2021, Maybank is running the Amex Usage & Contactless campaign, allowing its American Express (Amex) credit cardholders to win up to RM300 cashback. The reward can be earned by making online or offline purchases of up to a specified amount during weekdays, and by performing contactless transactions with your Maybank Amex credit cards.

Specifically, the campaign is open to Maybank customers holding any of the following cards:

Maybank 2 Amex Platinum credit card
Maybank 2 Amex Gold credit card
Maybank Ikhwan Amex Platinum
Maybank Ikhwan Amex Gold
Maybank Amex Cash Back Gold

If you are eligible, then you will be entitled to earn cashback throughout the campaign by carrying out any of the qualifying transactions:

Qualifying transactions
Details
Cashback that can be earned in a month
Maximum cashback throughout campaign
Weekday spend
Spend a total of RM1,000 (online and offline purchases) on weekdays within each campaign month
RM50
RM250
Contactless payment
Spend a minimum of RM10 via contactless (wave/tap for transactions less than RM250) payments to earn RM1 cashback. Maximum 10 transactions per month.
RM10
RM50

Only retail expenses are accepted for this campaign. Transactions such as flexi payment plans, balance transfers, and cash advance are not considered as eligible transactions for the campaign. E-wallet payments do not qualify as well.

(Image: The Star)

Note as well that the cashback rewards will be provided on a first-come first-served basis. Maybank has allocated a total of RM100,000 cashback rewards for the entire campaign, to be divided equally between both qualifying transactions. In other words, the cashback will be capped at RM50,000 for both weekend spend and contactless payment throughout the five-month campaign (RM10,000 per month).

If you do win any of the rewards, the cashback will be credited to you within eight weeks from the end of each campaign month. This will also be reflected in your billing statement.

To join this campaign, go ahead and register your participation by sending an SMS (Cashback<space>last 6-digit NRIC/passport number) to 66628. You are only required to register once within the campaign period to participate.

(Source:
Maybank
)

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Alex Cheong Pui Yin

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

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Citi Cash Back Card Review: All-Rounder

Citi’s most rewarding credit cards are usually reserved for the higher tiers, but the
Citi Cash Back Card
 – and its
Platinum variant
 – are surprisingly decent choices. These cards offer respectable cashback, and are straightforward with no frills, making them interesting choices for those who want an uncomplicated credit card. The smarter choice, as we’ll explain below, would be to go for the Gold variant.

With no points rewards systems or other bells and whistles, the Citi Cash Back credit card is a pure cashback card that offers a generous 10% cashback for four categories – but at low monthly caps. The categories do cover the essentials though, so you can generally hit the maximum cashback every month.

Cashback In Essential Areas

The 10% cashback is applicable for four categories: petrol, groceries, dining, and Grab rides (including topping up your GrabPay wallet!) While that sounds generous, the monthly cap for each category is RM10, which means the maximum cashback you can get from these four categories each month is RM40. For use of the card in other categories, you get 0.2% cashback that’s uncapped.

Since the cap for each category is capped at RM10, you will only earn cashback for the first RM100 you spend on each category. In December 2018, Citibank
revised the minimum monthly spend
 for the Gold variant from RM1,000 to just RM500 to unlock the 10% cashback tier. It may sound like a trivial change, but in reality it is a game changer. It means cardholders will earn an effective cashback rate of 8% for just RM500 of monthly spending, which is
fantastic
.

For the
Citi Cash Back Platinum
, the 10% cashback is the same, but with a higher RM15 monthly cap for all four categories. This means you get a slightly higher maximum cashback from the four categories at RM60 a month. However, this 10% cashback rate will only unlock once you spend a minimum of RM1,500 on the card – arguably too high for meaningful cashback. Meanwhile, the 0.2% cashback for other expenditure remains.

In March 2021, Citi introduced a short-term perk for Citi Cash Back Card holders:
10% cashback on food delivery orders
 (on FoodPanda and Dlivereat only), capped at RM10 for Gold and RM15 for Platinum cards – effectively offering a new cashback category. That said, this offer is only unlocked with a minimum monthly spend of RM800 for the Gold and RM1,500 for the Platinum, and will end on 31 August 2021.

Minor Caveats

To be fair, there is just one requirement in order to get the 10% cashback, which is the minimum RM500 (Gold) or RM1,500 (Platinum) spending on the card. If you don’t, all expenses on the card will only yield a tiny 0.2% cashback. Hence, this card is really only beneficial when your monthly expenses are above these two figures to unlock the cashback.

Besides that, you should also take note of the annual fees of the Citi Cash Back credit card. The Gold card has an annual fee of RM120, while the Platinum charges RM195. You could contact customer service to see if this fee can be waived, but it is highly dependent on both the customer service officer you are speaking to and, perhaps more importantly, your credit history with the bank.

That said, Citi cards usually come with a 3-year annual fee waiver for new-to-bank customers.

Standard Requirements

The Citi Cash Back credit cards have a standard minimum income requirement, set at RM36,000 a year (or RM3,000 a month) for the Gold, and RM60,000 a year (or RM5,000 a month) for the Platinum.

Few competitors

The Citi Cash Back Card has a unique position within the credit cards space in Malaysia, as it is rewarding for those who do not spend much on essentials every month – which is great for young working adults. Given the Citi Cash Back Card’s 8% effective cashback rate, there are few alternatives that can match its offering.

The popular
Public Bank Quantum Mastercard and Visa
 combo is great for online and offline spending respectively, but the Quantum Visa has a minimum spending requirement of RM30 to be eligible for the 5% cashback rate, and includes some category restrictions such as petrol transactions.

One alternative that is worth exploring is the
Hong Leong Wise Gold
 credit card. It offers cashback on three categories: Petrol, Groceries, and Dining, and has two tiers of cashback: 1% for weekdays and 8% on weekends – subject to a minimum monthly spend of RM500. It is quite similar to the Citi Cash Back Card, and is probably better suited to those who spend a little bit more on essentials each month.

That’s because its 8% cashback cap is RM18, which will be met with RM225 spending (more than the maximum RM100 that’ll earn cashback on the Citi Cash Back Card. In total, Hong Leong Wise cardholders can earn up to RM54 with RM675 spending in the three categories. In addition, there’s also an unlimited 0.25% cashback for other retail spend. Whether this card is better than the Citi depends on your individual spending habits.

Verdict: Go For Gold

The Citi Cash Back Gold is one of the best cashback credit cards in Malaysia. With RM40 in cashback for just RM500 in monthly spend, you’ll be getting a lot of mileage from this card, especially considering the four cashback categories which covers most of our monthly expenses. Just be sure to hit that minimum RM500 spend (better if spread across the four categories), and once you’ve hit the low RM10 cashback cap for each category, use another
cashback credit card
 and stack the benefits like a pro.

Moreover, the low minimum RM500 spend makes this an excellent card for fresh grads and first-time credit card owners. However, unless CItibank does the same for the Platinum card, its 4% effective cashback (RM60 cashback for RM1,500 spend) is half that of the Gold variant. It’s decent, but there are better options.

Finally, if you apply for the
Citi Cash Back credit card via RinggitPlus
, you’ll be in for a treat as well. All successful and approved applications for this card will be eligible for an exclusive sign up gift!

Editor’s Note: This review was originally published in 2019, and has been updated to include the latest features of the card.

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

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Economists: BNM Unlikely To Raise OPR Again Until Early 2023

(Image: The Sun Daily)

Several economists have weighed in to say that Bank Negara Malaysia (BNM) is unlikely to raise the overnight policy rate (OPR) for the fourth time in a row, in the Monetary Policy Committee meeting next month. This is as Malaysia’s inflation rate has remained comparatively low, in relation to other Asian economies, and as such, any further OPR hikes will likely be put off to at least early 2023.

“In the past, Bank Negara has never increased the OPR for four straights times. Therefore, I don’t think this will be the first time they are going to do it, since our country is still experiencing a stable and positive gross domestic product growth and low inflation rate. I also believe that another rate hike will not have an impact on the ringgit status,” said economic analyst from the Putra Business School, Associate Professor Dr Ahmed Razman Abdul Latiff.

Similarly, economist from the Malaysia University of Science and Technology, Dr Geoffrey Williams also believes that there is only moderate pressure for BNM to increase the OPR next month. This is as the central bank has upheld its mandate very well in recent times – which is to support Malaysia’s financial stability, promote sustainable economic growth, as well as maintain price stability.

“We have these things now, so the pressure to raise rates should moderate,” the economist noted, who further said that BNM also believes it is possible to normalise interest rates now without putting too much pressure on the people. He also stated that the central bank doesn’t have a target to hit with regard to the OPR, although historically, the rate typically ranges between 2.5% to 3%.

“Of course, it recently had been lower, and in the past, sometimes a little higher at 3.25%. So we’re in the range now, and there is less chance of a change. It is not inevitable that they will increase further next month. It depends on economic conditions,” said Dr Geoffrey, adding that even though the OPR decision will likely be made during Malaysia’s upcoming general election campaign (GE15), BNM can be trusted to make its decision based on its mandate and economic conditions instead of political considerations.

(Image: The Star)

During Covid-19, BNM had lowered Malaysia’s OPR from 3% pre-pandemic to a
historical low of 1.75%
 via a series of cuts during 2020 and 2021. It subsequently raised the rate for the first time after that in
May 2022, by 25 basis points (bps)
, followed by another two consecutive increases of 25 bps in
July
 and in
September
. The OPR now stands at 2.50%.

Meanwhile, BNM itself has reassured the public that a
drastic increase of the OPR by the end of 2022 is not in the books
. Instead, it will be carried out in a measured and gradual manner to avoid any unwanted or unexpected consequences.

(Source:
New Straits Times
)

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

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It’s Now Even Easier To Stream Videos On Your Mobile Phone

Watching movies or TV on a mobile phone is great for those with a busy, on-the-go lifestyle. Usually, you would have to download an app or sign up for a video-on-demand streaming account beforehand for you to fulfil your binge-watching needs. It is a tedious process that takes time and effort. But with iflix, you can skip all the hassle of downloading apps and signing up for an account.

Instead, you can go to iflix Mobile Web on your phone’s web browser to watch FREE movies and TV shows. That’s right, you don’t need to download an app or sign up for an account to enjoy great entertainment on your mobile phone. Simply go to
m.iflix.com
 on your phone’s web browser to binge on free movies and tv shows. Just click play to enjoy hundreds of hours of free entertainment on your mobile device!

It’s just as great an experience as the iflix app, but even more accessible and convenient.

iflix Mobile Web is perfect for users who have limited space on their mobile devices, or for those who simply dislike cluttering their phone with dozens of apps. What’s even better is that the Mobile Web version actually loads faster and only takes a mere 140kB of data to load.

What exactly do you get to watch on iflix Mobile Web? Well, you get to stream all the movies, television shows, documentaries, and football offerings under iflixFREE. Best of all, iflix has just dropped over 60 movies from their paid-for VIP tier to iflixFREE, so your free streaming choices include popular movies such as
The Hunger Games
 series,
The Expendables
 trilogy, the
Ringu
 trilogy, and movies like
John Wick
,
Law Abiding Citizen
, and
Looper
.

With iflix Mobile Web, entertainment has never been easier, and it brings you added convenience with all the full benefits of iflixFREE. Do note that iflix Mobile Web is currently only available on Android devices – but don’t worry iPhone users, support for iOS is currently being worked on.

To access iflix Mobile Web, all you need to do is visit
m.iflix.com
 on your mobile phone browser and you can start watching the iflixFREE content of your choice immediately. It’s free, instant, and convenient.

However, if you want to experience the full offerings of iflix and its VIP tier content, you can always sign up for an iflix account and receive a 30-day free VIP trial that gives you full access, without any ads. Happy watching!

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Maybank World Mastercard and Visa Infinite Revisions: Higher Fee Waiver Spend And Other Changes

UPDATE:
Maybank 2 Cards Reserve American Express is also included with this revision. The article has been updated.

Effective 1 June 2019, Maybank will be revising the benefits of a list of their credit cards, including its line of premium cards: the Maybank Reserve American Express, Maybank Islamic World Mastercard Ikhwan Card-i, the Maybank Visa Infinite Card, the Maybank Islamic Ikhwan Visa Infinite Card-i, and the Maybank Manchester United Visa Infinite Card.

In a nutshell, all Maybank Visa Infinite and Maybank World Mastercard credit cards will see some changes that range from air miles redemption rates, minimum income requirement, and annual fee waiver criteria. Here’s a table showing all the changes:

Maybank Credit Card

Changes

Maybank Islamic World Mastercard® Ikhwan Card-i

Annual fee waiver spend criteria increased from RM50,000 pa to RM80,000 pa

Maybank Visa Infinite Card

Minimum income requirement lowered from RM120,000 pa to RM100,000 pa

Annual fee waiver spend criteria increased from RM50,000 pa to RM80,000 pa

Number of TreatsPoints required to claim 1,000 air miles increased from 4,500TP to 5,000TP

Maybank Islamic Ikhwan Visa Infinite Card-i

Maybank Manchester United Visa Infinite Card

Maybank 2 Premier Reserve American Express

With these revisions, all of Maybank’s premium credit cards have been streamlined so all the requirements are the same: an annual fee of RM800 per year, waived upon a minimum annual spend of RM80,000 after the initial first year waiver, and a minimum income requirement of RM100,000 per annum to apply.

Maybank Islamic World Mastercard and Visa Infinite cardholders will definitely be feeling the pinch as they’ll have to spend RM30,000 or 60% more in a year than they previously did in order to qualify for the annual fee waiver. Given the RM800 annual fee, this increased spend requirement will be a hard pill to swallow.

On the other hand, there is good news for

Maybank World Mastercard
 holders, as they end up on the winning end of this streamlining exercise. Both its annual fee and annual fee waiver spend were reduced earlier on 1 May 2019, presumably to match the other premium cards’ requirements. Unlike revisions to the Visa Infinite cards, the revisions to the Maybank World Mastercard makes it a lot more competitive and a worthy alternative to the Maybank 2 Premier: reduced annual fees (from RM1,000 to RM800), free first year (vs RM,1000 previously), reduced annual fee waiver requirement (from RM100,000 spend to RM80,000), and a reduced annual income criteria (from RM120,000 to RM100,000). This card offers Treats AirMiles which never expire, and has a redemption rate of 6,000 Treats AirMiles = 1,000 Enrich Miles. Cardholders earn 2.5 Treats AirMiles for every RM1 spent locally and 5 Treats AirMiles for every RM1 spent overseas. New cardholders also get 50,000 Treats AirMiles upon approval.

For the Maybank 2 Premier Reserve American Express and all Maybank Visa Infinite cards, there will also be changes when it comes to the air miles conversion rate. Cardholders now need 5,000 TreatsPoints to redeem 1,000 Enrich Miles, AsiaMiles, or KrisFlyer Miles instead of the previous 4,500 TreatsPoints. 5TP to one air mile can still be considered a favourable air miles conversion rate, but the change does make for an increase of about 10%, which will make a noticeable difference to existing cardholders who are used to claiming large amounts of airmiles.

If you were planning to apply for one of these Maybank credit cards, do take note of these new changes. The lowered minimum income requirement may make the cards look enticing, but if you can’t hit the minimum spend of RM80,000 a year, the RM800 annual fee will sting. And if you were planning on funding an upcoming flight with your TP-earned airmiles, make sure to factor in the new air miles rate into your calculations.

In addition to its premium cards, Maybank also made

changes to the benefits of some of its other cards
: two of its cashback favourites, Maybank 2 American Express Card (
Gold
and
Platinum
) and
FC Barcelona Visa Signature
, as well as the airmiles-earning
Singapore Airlines KrisFlyer American Express Gold
.

(Source:

Maybank
)

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AXA Affin Offers Covid-19 Hospital Assistance To Medical Insurance Policyholders

AXA Affin is extending a complimentary 2019-nCoV Hospital Assistance Programme to its medical insurance policyholders. The programme offers an additional Hospitalisation Waiver Assistance benefit to all AXA Affin medical policyholders, and three additional benefits to medical policyholders who purchase a Hospitalisation Income Benefit Rider (HIB) during the application period of 1 February – 31 March 2020.

The cover period for this programme is from 1 February to 30 June 2020. Those who have purchased the HIB rider during the application period can benefit from these three features:

Urgent Self-Assistance.
 One-time cash payment upfront of up to 14 days of hospitalisation income benefit (income protection if insured is unable to work due to unexpected hospitalisation).

Family Assistance.
One-time cash assistance of RM3,000 to the immediate family member of the insured who has been diagnosed with Covid-19. Should the insured be isolated for Covid-19 while travelling to Hubei, Zhejiang, or Jiangsu during the cover period, a maximum lump sum of RM10,000 will be paid.

Hospitalisation Waiver Assistance.
 Includes policy waivers for ICU Daily Limits, Consultation and Treatment Costs, Unlimited Doctor Consultation Day Visits, and Unlimited Ambulance Transfer Assistance.

Meanwhile, those who are holding a medical policy without a HIB rider or have purchased the HIB rider before 1 February are entitled to just the Hospitalisation Waiver Assistance.

The 2019-nCoV Hospital Assistance Programme applies only to the diagnosis and isolation or hospitalisation of a Covid-19 patient in a hospital or isolation centre designated by the Ministry of Health. To find out more, you can read up about the
coverage here
.

Other insurance providers have devised similar variations of additional protection for cases of Covid-19. Prudential is offering a lump-sum payout of RM5,000 to
Prudential
 policyholders who are diagnosed with Covid-19, whereas
AIA
 is offering a hospitalisation benefit and additional RM10,000 death benefit to its life and personal accident insurance customers.

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Mercer Predicts 5% Median Salary Increase For Malaysian Employees In 2023

(Image: Malay Mail/Shafwan Zaidon)

A survey by asset management firm Mercer has indicated that employees in Malaysia can expect a median increase of 5% in their salaries next year. Revealed in its Total Remuneration Survey (TRS) 2022, the firm said that this marks a return to pre-pandemic levels seen back in 2019, which also reflects employers’ optimism regarding their business and overall market outlook.

Mercer’s report further indicated that Malaysia’s 5% median salary increment is higher than the Asia Pacific average of 4.4%. The overall median salary increase in Asia Pacific is found to range from a high of 7.1% (Vietnam) to the lowest 2.2% (Japan), highlighting the difference in pay progression between emerging and developed economies.

Furthermore, the survey also found that Malaysian employees in the retail and consumer goods industries are most likely to see the highest increase rate in salary increment in 2023 at 5%, up from 4.5% and 4.6% in 2022 respectively. The shared services and outsourcing (SSO), as well as high-tech industries are also expected to extend their 5% increment rate from this year to 2023, hinting at their relative stability despite headwinds like inflation and supply chain issues.

(Image: New Straits Times)

On bonus payouts, Mercer’s report predicts that employees from most industries can expect a higher payment in 2022 – with the exception of the high-tech industry. The SSO industry is projected to offer the highest bonus payout among all industries at 20.3%, exceeding high-tech’s forecasted 19.9%. This reflects the SSO industry’s growth potential, which ties in closely with the need for professional talent.

Meanwhile, the bonus payout for employees in the retail industry is forecasted to see the highest increase, from 8.1% in 2021 to 12.6%. This is followed by the consumer goods industry, with an expected increase from 13.7% in the previous year to 16%.

Career business leader of Mercer Malaysia, Koay Gim Soon elaborated that with Malaysia quickly bouncing back from the Covid-19 pandemic, companies – especially multinational companies – are ready to ramp up their business activities. As such, many will need to attract new talent.

“Nevertheless, larger firms will need to keep abreast of the latest rewards trends and developments to ensure they have a relevant and reliable talent pool. Small to medium enterprises (SMEs), which have relatively fewer resources, on the other hand, need to double down on their business priorities while ensuring that their compensation and benefits packages are competitive in order to attract and retain the right talent,” said Koay.

“While a robust compensation strategy remains critical, employee engagement should also be prioritised as a retention strategy, especially to address employees’ needs such as physical and mental well-being, work-life balance, career progression, and more,” Koay further stated.

Finally, Mercer’s survey indicated that while existing employees can expect better renumeration package from their employers, more companies are planning to adopt more restrain in their hiring outlook in 2023. This is as 30% of organisations surveyed said that they intend to employ more people next year, as compared to 39% for 2022. On the other hand, 1% said that they plan to decrease their headcount in 2023, in comparison with 3% in 2022.

Mercer’s Total Remuneration Survey 2022 was conducted between April and June this year, polling 637 organisations across 17 industries in Malaysia – with 98% of them being MNCs. Meanwhile, employee management data and software provider ECA International also said back in October that employees in Malaysia can expect to see a
real salary increase of 2.2% in 2023
.

(Sources:
The Sun Daily
)

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Alex Cheong Pui Yin

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

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Selangor Govt Offers Subsidies For Psychiatric Treatment, Limited To 700 Slots

(Image: Selangorkini/Remy Arifin)

The Selangor government has rolled out a new subsidy programme for state residents who are in need of specialist intervention by psychiatric experts, dubbed the Selangor Sehat Psychiatric Treatment Subsidy programme. It is carried out in collaboration with the International Islamic University of Malaysia, the Malaysian Psychiatric Association, and SelCare Clinic.

The programme – which has a budget allocation of RM222,600 – offers a total of 700 subsidised slots (estimated at RM200 per slot). It will cover the cost of screening, psychiatrist consultation charges, basic psychotherapy treatment, and medications for the first two weeks – limited to five treatments per patient. Additionally, a portion of the budget will also be used for the continuous education and training of SelCare doctors on psychiatric intervention matters.

“Selangor residents who want to apply for the incentive have to complete an initial screening through the Selangkah app (under the Mental Sehat option). Based on eligibility, an applicant can then choose to undergo a second screening at a preferred SelCare Clinic. Qualified applicants will be referred to psychiatric experts to undergo further intervention,” said the chairperson of Selangor’s public health, unity, women empowerment, and family committee, Dr Siti Mariah Mahmud.

Dr Siti Mariah also said that this programme is expected to shorten the waiting time for those who are seeking mental health treatment, as well as to lighten the burden on psychiatric clinics at government hospitals. She also expects a majority of subsidy applicants to come from the B40 and M40 income group.

The Selangor Sehat Psychiatric Treatment Subsidy programme is rolled out under the Selangor government’s existing Selangor Mental Sihat Programme (Sehat), which was itself launched back in 2021. The Sehat programme is described as a holistic mental health initiative that aims to assist Selangor citizens via four components: awareness, education, screening, and intervention.

“Selangor is the first state to introduce a digital mental health function that was integrated with the Selangkah app. Since then, more than 60,000 Selangor residents have undergone initial mental health screenings while the Sehat psychosocial support helpline has assisted 312 callers from within and outside the state,” Dr Siti Mariah further said.

(Sources:
The Star
,
CodeBlue
)

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Dr Siti Mariah Mahmud

International Islamic University of Malaysia

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Selangor Mental Sihat Programme (Sehat)

Selangor Sehat Psychiatric Treatment Subsidy Programme

Selcare Clinic

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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