Don't Forget to Do These 8 Things Before You Balik Kampung for CNY

Everybody’s leaving for CNY but remember that you also have a house that can’t come with you. Travelling well also means coming home well, but sometimes we may miss certain preparations we should make in order to leave our house in a good condition for when we return. Avoid disaster and unexpected situations before your
balik kampung
 trip by making sure you do these things.

1. Clean Out Your Fridge

Take stock of your fridge and see which items are expiring soon and get rid of them. This is so you don’t come back to rotting items you didn’t have time to use up before going away. You can use our tips for maximising the use of leftovers to help you out.

2. Refrigerate Your Produce

If you have fruits or vegetables that you keep outside of the fridge like onions, garlic, oranges or pineapples, be sure to store them in your fridge before you leave. These items might be safe to leave out for a while, but in your absence they might get knocked over or get overripe: both of which can attract unwanted critters and stink up the place.

3. Take Out Your Trash

If you have a regular schedule for taking out the trash, you may forget to do so just before leaving. Just like overripe fruit or vegetables, rubbish left out for long can attract stray animals or vermin into your house. Empty your trash right before heading out to prevent this.

4. Wipe Down the Surfaces in Your Home

Dirt or other spills can seep into your furniture and ruin the material if left uncleaned for long periods. Spending a half hour to wipe down all your surfaces can ensure that you won’t have to come home to a spoiled coffee table or expensive clean-up service bill.

5. Take Care of Your Plants and Pets

If you own any plants or pets that you’re not bringing with you for Chinese New Year, remember to arrange for them to be taken care of while you are away. Water your plants and move them to cool areas, or refer to online sources on how best to keep your plant healthy when you’re on holiday.

As for your pets, you can leave them at a pet hotel or a trusted family member or friend so they can be looked after.

6. Hold Your Mail

Your mail is going to keep coming even when you’re away, so if you’re expecting some packages, arrange for a trusted neighbour or friend to pick up your post for you.

If you really don’t have either option – make sure your post box is the kind than can easily receive mail whilst locked and of course, do lock it tight before you go!

The next two items in this list are nice to do, but aren’t 100% essential. They are both mostly to make your return home from your trip more comfortable. Try them out and see your whole
balik kampung
 experience improve.

7. Make Your Beds and Change Your Sheets

Some of you may think it’s a little silly to make your beds and keep a tidy appearance when there’s nobody who’ll be home anyway. But a clean, neat, and welcoming bed will be just the thing you need after hours on the road. Keeping your sleep area ready for you when you get back will greatly improve your recovery time after arriving home from your travels.

8. Stock Up on Ready Meals and Coffee

Another way to make your return from the road more pleasantly bearable is to keep ready-made meals and coffee in stock before you head out. This means by the time you get back home all tired and hungry, you have supplies ready to go.

These are the important items people often forget to do in preparation for long travels. But now that this checklist is in your hands, you can go through them and ensure that your Chinese New Year travels and celebrations are stress and headache-free.

Speaking of traveling, if your journey involves flights or a holiday overseas, be sure to check out our sister site, Savemoney for a list of important things to always have in your traveling backpack so you’re always ready and prepared. If you’re driving to your destination, you can save a tonne on petrol by having the right
petrol credit card
.

Do you have any other tips for traveling home this Chinese New Year? Do let us know in the comments section down below!

Photo credits:
Meggito on flickr
, “Cleaning brushes” by Flickr.com user “tanakawho”, and highways england on flickr.

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More Banks Offer Non-Compounding Interest On Loans During Moratorium

(Image: The Malaysian Reserve)

More banks have come forward to say that they will not be charging compounding interest on their loans during the six-month moratorium period: Hong Leong Bank, Public Bank, Affin Bank, CIMB, Agrobank, and BSN. Interest for individual and SME loans from these banks will not be compounded during the deferment period mandated by Bank Negara Malaysia.

Hong Leong Bank

Non-compounding interest applies to all SME loans/financing and loans/financing to individuals, including auto, housing, mortgages, personal loans/financing and Amanah Saham Bumiputra (ASB) financing, Pension financing and MyCoop loans/financing.

Public Bank

Non-compounding interest applies to all eligible individual and business customers.

Affin Bank

(Image: The Star)

Non-compounding interest applies to all individual and SME loans. Those who wish to opt out from the moratorium should visit their nearest Affin Bank branch, contact the call centre, or download the form from the Affin Bank website.

CIMB

(Image: New Straits Times)

Non-compounding interest applies to all eligible individual and SME customers.

Agrobank

(Image: The Malaysian Reserve)

Non-compounding interest applies to all eligible individual and SME customers. Agrobank has also stated that there will be no increase in the monthly repayment amount after the six-month moratorium.

BSN

Non-compounding interest applies to all eligible individual, micro, and retail customers.

***

As per usual, compounding interest does not apply to Islamic financial products for all banks in compliance with Shariah law.

Other banks who have said that they will not be compounding interest during the moratorium include
HSBC
,
OCBC
,
RHB
,
Maybank
, and
Alliance Bank
, all of which made their announcements over the past week. If you’re looking to find out more about the
financial assistance offered by banks in Malaysia
 to help those who are affected by Covid-19, make sure to refer to our
article on it here
.

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Maybank’s Merdeka Campaign Offers Up To RM64 Of Cash Prizes Or Vouchers

Maybank is currently running its MAE-mories of Malaysia Merdeka campaign, which allows eligible customers to win up to RM64 cash prizes or vouchers by making selected transactions and playing a game on the MAE by Maybank2u (MAE) app. The campaign, which begins today, will run until 30 September 2021.

Open to all individuals who have an active MAE account (including those who do not have a Maybank account), this campaign basically lets you earn entries to play the Arcade MAE-mory game by carrying out specific transactions. If you earn enough points (a minimum of 100 points) in a single gameplay, then you will be entitled to win up to RM64 in cash prizes or vouchers.

Depending on what transactions you perform, you may be able to earn one, two, or four chances to play the Arcade MAE-mory game. While there are several transactions that do not require you to spend a minimum amount to earn those chances (in other words, you just need to perform an action), most will have a minimum spend requirement – which can range from RM5 to RM3,000. Some examples of qualifying transactions and actions include:

Register for Scan & Pay feature on the MAE app (1 entry)
Perform mobile reload of RM30 and above (1 entry)
Apply for the MAE debit card on the MAE app (2 entries)
Perform mobile reload of RM50 and above (2 entires)
Perform a JomPAY transaction of RM50 and above (4 entries)

You can find
the full list of eligible transactions here
. Some transactions may come with specific limits and conditions, so make sure to check before performing them!

Upon earning the required amount of points from a single Arcade MAE-mory gameplay, you’ll then be entitled to win any of the following prizes:

Prizes
Value
Cash prize
Up to RM64
iDOtshirt voucher
RM20
Hermo voucher
RM10
Mr DIY voucher
RM5
Mr DIY online store voucher
RM5
Caring Pharmacy voucher
RM5

Where applicable, the prizes will be awarded to the winners at random based on randomiser programme. With regard to the cash prize in particular, there is a pool of RM2.7 million to be won.

Note as well that the Arcade MAE-mory game is only available on the MAE app, so you must download the app in order to participate in this campaign. The respective prizes won will be displayed on the MAE-mories of Malaysia Merdeka campaign page within the MAE app between today until 10 October 2021 (under the “Prizes” tab). All prize winners must collect or redeem their prizes within the respective validity date. Otherwise, unclaimed prizes will be forfeited.

Lastly, each participant is allowed to win a maximum amount of RM100 cash prizes and five vouchers. Upon reaching these caps, you will no longer be able to participate in the game, or use any remaining unused entries. Do also be aware that each voucher may have its own terms and conditions of use, such as minimum spend requirement, so do double check!

(Source:
Maybank
)

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About THE AUTHOR

Alex Cheong Pui Yin

Alex Cheong Pui Yin

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

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    Muhd Zulfika bin patri

    1 year ago

Kenapa ya cash prize merdeka mae maybank rm64 tak masuk dalam akuan mae wallet saya ye padahal saya dah dapat reward cash prize rm64 tapi tak masuk akuan cash prize yang lain masuk akuan tapi yang rm64 tak masuk akuan… reward saya dah capai 100 dan tak boleh spin dah tapi cash prize rm64 tak masuk-masuk pun

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21 Highway Tolls Will Be Frozen In 2019

Finance Minister Lim Guan Eng has announced that toll fares for all vehicle classes across 21 highways to not increase in 2019. The freeze in toll fare hikes was made as a means to help lessen the burden of Malaysians’ rising cost of living.

This decision will affect concessionaires eligible to increase its fares from 2019, which would have seen motorists paying up to RM1.40 more at selected toll plazas. For example, Class 1 vehicles will be paying RM1 extra from the current RM2.10 for the LDP highway to RM3.10, and the Akleh Highway from RM2.50 to RM3.50. DUKE highway users will be paying extra 80 sen from RM2.50 to RM3.30, while motorists exiting the Putrajaya toll onto the MEX highway will pay RM4.90 from the current RM3.50.

The Malaysian Finance Minister also revealed that toll prices for eight additional highways will be maintained for buses. In addition to that, tolls for motorcycles at the First and Second Penang Bridges, and the Second Link in Johor will be terminated from 1 January next year.

The 21 highways that are included in the toll hike freeze are:

–    North-South Expressway,

- Malaysia-Singapore Second Link,

- Shah Alam Expressway (KESAS),

- North-South Expressway Central Link (ELITE),

- East Coast Expressway Phase 1,

- Besraya Expressway,

- New Pantai Expressway (NPE),

- Damansara-Puchong Expressway (LDP),

- Ampang-Kuala Lumpur Elevated Highway (AKLEH),

- Butterworth-Kulim Expressway (BKE),

- Duta-Ulu Klang Expressway (DUKE),

- Maju Expressway (MEX),

- Kajang-Seremban Highway (LEKAS),

- Senai-Desaru Expressway (SDE),

- Sprint Expressway,

- South Klang Valley Expressway (SKVE),

- Seremban-Port Dickson Highway (SPDH),

- Lebuhraya New North Klang Straits Bypass (NNKSB),

- Guthrie Corridor Expressway (GCE),

- Sultan Abdul Halim Mu’adzam Shah Bridge, and

- SMART tunnel.

The other eight highways that will see a freeze in toll prices  for buses are:

- Cheras-Kajang Expressway (CKE),

- Kuala Lumpur-Karak Expressway (KLK),

- Kemuning-Shah Alam Highway (LKSA),

- Butterworth Outer Ring Road (BORR),

- Kajang Dispersal Link Expressway (SILK),

- Kuala Lumpur-Kuala Selangor Expressway (LATAR),

- New Pantai Expressway (NPE), and

- Sprint Expressway.

To compensate, the government will pay the concessionaires an estimated RM994.43 million for the three initiatives.

(Source:
The Star
)

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RHB Smart Pay Does Away With Bills

Get on top of your bills and never be late on your payments again. Sign up for
RHB Smart Pay
 with your RHB cardholder and receive and a Kenny Rogers Roaster voucher worth RM10.

RHB Smart Pay is an auto-payment service from RHB bank which allows cardholders to automatically charge their monthly bills to their credit cards. Cardholders that successfully enrol in this promotion are eligible to receive the Kenny Rogers Roaster voucher. One voucher will be awarded for each successful sign-up.

This promotion runs from 1 April 2013 till 30 Sept 2013 and is eligible to all RHB credit cards except RHB Business credit card. Do take the time to read the
Terms & Conditions
 page and
FAQs
 first before signing up.

Need an RHB credit card? Get the right one for you at
RinggitPlus.com
.

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Finance Minister: Government To Continue Providing Fuel Subsidy For Now

(Image: Malay Mail/Miera Zulyana)

Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz has remarked that the government is financially capable of continuing the fuel subsidy, and will continue to do so for the people despite rising global crude oil prices. This is especially to support the people’s livelihood, particularly for those from vulnerable groups.

“As the government has said before, the subsidies for this year will reach RM70 billion, meaning that the fuel subsidy will reach RM30 billion. We have made a projection based on Brent oil price. Last month (May), it (fuel subsidy) already reached RM5 billion a month. However, at this moment, the government will continue to allocate for the subsidy. We are still able to help the people through the subsidy, so we will continue,” Tengku Zafrul said, adding that the government will continue to monitor the global oil prices.

(Image: Malay Mail/Yusof Mat Isa)

The minister also explained that the government is still capable of providing the subsidy because Malaysia’s inflation target for 2022 is still within the projected figure. To note, Malaysia’s headline inflation is projected to
average between 2.2% to 3.2% in 2022
, as per the forecast by Bank Negara Malaysia (BNM).

That said, Tengku Zafrul reiterated that the government is also in the midst of looking for long-term measures to help it cope with the burgeoning cost of providing subsidies. One of the various methods being explored is the implementation of a targeted subsidy system.

To date, several ministers have already highlighted the possibility of a switch from the current blanket fuel subsidy to a targeted subsidy. This includes the International Trade and Industry Minister, Datuk Seri Mohamed Azmin Ali, who stressed that
those driving BMWs cannot enjoy the same subsidies as those with Kancil
. Similarly, Minister in the Prime Minister’s Department (Economic Affairs), Datuk Seri Mustapa Mohamed also noted that the government is already
exploring a suitable targeted fuel subsidy mechanism
.

(Image: Bernama)

Aside from noting the possibility of implementing a targeted subsidy system, Tengku Zafrul also shared that the government does not plan to ask Petronas for additional dividend to bear the cost of the subsidy.

“We will see all (options). The government revenue is increasing as our revenue depends on commodity prices. Companies like Petronas have also announced strong financial positions (but) whether we will ask for more dividend from them or anything, has not yet been discussed. The government’s revenue has also increased, although the increase is not as high as the (increase in) subsidy. We will continue to monitor as this is not only a phenomenon in Malaysia, but also at the global level,” said Tengku Zafrul.

(Source:
The Star
)

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DOSM: Average Monthly Salaries Of Malaysians Rose By 4.4% In 2019

The Department of Statistics Malaysia (DOSM) has revealed that the average monthly salaries and wages received by Malaysian employees have risen by 4.4%, increasing from RM3,087 in 2018 to RM3,224 in 2019.

Meanwhile, the median monthly salaries and wages of paid employees have increased by 5.8%, from RM2,308 in 2018 to RM2,442 in 2019.

“The increase in salaries and wages in 2019 was in line with Malaysia’s economic performance, which recorded 4.4% growth at current prices in 2019,” said chief statistician Datuk Seri Dr Mohd Uzir Mahidin. He added that the number of paid employees in Malaysia also saw an increase of 5%, from 8.8 million people in 2018 to 9.2 million in 2019.

Apart from these details, DOSM’s latest Salaries and Wages Survey Report further recorded information on the median and mean monthly income of Malaysians according to various demographic and other socio-economic markers, including gender, strata, and education level.

By gender

The report noted that the median monthly salaries and wages received by male and female employees in 2019 stood at RM2,477 and RM2,370, respectively. This translates to an increase of 5.8% and 6.8% in the earnings of both groups since 2018. Meanwhile, the mean monthly salaries and wages for male employees have increased by 4.1% to RM3,304, and for female employees by 5% to RM3,108 compared to the previous year.

By strata

In 2019, the median monthly income for employees in the urban area rose by 6.2% to RM2,565, whereas those in the rural area saw a slower growth rate of 5.3% to RM1,560. In terms of mean monthly income, however, employees in the rural area showed a greater increase in their income as compared to their counterparts in the urban area. While those in the rural area enjoyed a 6% growth, employees in the urban area saw a lower 4% increase.

By education level

The median and mean monthly salaries and wages for employees with tertiary education remained high, with a 6.9% and 2% growth from 2018, respectively.

***

Moving forward, Mohd Uzir said that the Covid-19 pandemic is expected to affect the income received by employees in 2020, particularly those in the wholesale and retail trade, repair of motor vehicles, as well as transportation and logistics. “Besides that, the accommodation industry, food and beverage services, and the arts, entertainment and recreational sectors are also expected to be affected by the enforcement of the movement control order,” he said.

Head on over to DOSM’s website for more information on the
2019 Salaries and Wages Survey Report
.

(Sources:
Department of Statistics Malaysia
,
The Edge Markets
)

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Salaries and Wages Survey Report 2019

About THE AUTHOR

Alex Cheong Pui Yin

Alex Cheong Pui Yin

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Pampering at the Body Bar Spa with your HSBC Credit Card

Relax and unwind after a hard day/week at the Body Bar Spa with great packages only for HSBC Cardmembers. You’ll get to enjoy one of these fabulous treatments at some hard to beat prices:

A 180 minute Couples VIP Retreat at only RM516 Nett per couple [consists of Foot Massage (30 minutes), Signature Massage (60 minutes), Body Scrub (30 minutes), Jacuzzi Relaxation (30 minutes) and Ear Candling (30 minutes).

A 90 minute Signature Massage at only RM128 Nett per person.

A 120 minute Facial Hydration at only RM178 Nett per person.

The best part is that you are allowed unlimited use of this package during the promotion period.

Offer valid until 30 June 2013 and only with payment via your HSBC Credit Card (natch). You will need to make prior reservation and this offer is only available the the Mont Kiara outlet. Gift vouchers will not be accepted as partial/full payment and the Body Bar Royalty card cannot be used in conjunction with this offer.

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Operating Hours For CIMB Branches Are Now Back To Normal

(Image: The Star)

CIMB has announced that the banking hours for its branches and Preferred Centres across the country have now reverted to normal.

According to a statement from the bank, its branches and Preferred Centres will now be operating by the following schedule:

Branch locations

Banking hours

CIMB branches and Preferred Centres outside of Terengganu and Kelantan

–
Monday to Thursday
: 9.15am to 4.30pm

–
Friday
: 9.15am to 4.00pm

CIMB branches and Preferred Centres in Terengganu and Kelantan

–
Sunday to Wednesday
: 9.15am to 4.30pm

–
Thursday
: 9.15am to 4.00pm

(Image: New Straits Times)

Prior to this, CIMB had revised the banking hours for its branches to comply with movement control order (MCO) regulations. In the past month, many of CIMB’s branches in several states were
operating only for limited hours
, with most ending at 3.00pm.

Note, though, that the operating hours for branches located within shopping malls may differ, so the bank advises its customers to double-check before making a visit. You can do so at
CIMB’s branch locator here
. Aside from that, CIMB also encouraged its customers to use CIMB Clicks or BizChannel@CIMB for their daily banking needs.

If you’re in need of additional aid, however, you can call the bank’s contact centre at 03-62047788 (individuals), 1 300 885 300 (Preferred customers), or 1 300 888 828 (companies) to speak to a representative.

You can find out more about
CIMB’s updated banking hours
 on the bank’s website.

(Source:
CIMB
)

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Malaysian Banks Revise Base Rates, FD Rates Again After Second OPR Cut In 2020

(Article updated on 12 March 2020 to include Alliance Bank.)

Major banks across Malaysia are once again adjusting their base rates (BR) and base lending rates (BLR). This is in response to the
second overnight policy rate (OPR) cut
 implemented this year, announced by Bank Negara Malaysia (BNM) just yesterday. The second revision saw the OPR being reduced by another 25 basis points, bringing it from 2.75% to 2.50%.

As such, these will be new rates for the following banks. The list will be updated as more banks share their new rates:

Maybank

(Image: The Star)

Rates Before New OPR Cut (%)

New Rates (%)

Base Rate/Islamic Base Rate

2.75

2.5

Base Lending Rate/Islamic Base Financing Rate

6.40

6.15

Deposit rates will also decrease by 0.25%.

All new rates will be effective from 5 March 2020 onward.

Bank Islam

(Image: The Malaysian Reserve)

Rates Before New OPR Cut (%)

New Rates (%)

Base Rate/Islamic Base Rate

3.52

3.27

Base Lending Rate/Islamic Base Financing Rate

6.47

6.22

Deposit rates will also decrease by 0.25%.

All new rates will be effective from 6 March 2020 onward.

Public Bank

(Image: The Edge Markets)

Rates Before New OPR Cut (%)

New Rates (%)

Base Rate

3.27

3.02

Base Lending Rate/Islamic Base Financing Rate

6.47

6.22

Deposit rates will also decrease by 0.25%.

All new rates will be effective from 6 March 2020 onward.

Hong Leong Bank and Hong Leong Islamic Bank

Rates Before New OPR Cut (%)

New Rates (%)

Base Rate/Islamic Base Rate

3.63

3.38

Base Lending Rate/Islamic Base Financing Rate

6.64

6.39

Deposit rates will also decrease by 0.25%.

All new rates will be effective from 6 March 2020 onward.

CIMB Bank and CIMB Islamic Bank

(Image: New Straits Times)

Rates Before New OPR Cut (%)

New Rates (%)

Base Rate/Islamic Base Rate

3.75

3.50

Base Lending Rate/Islamic Base Financing Rate

6.60

6.35

Deposit rates will also decrease by 0.25%.

All new rates will be effective from 9 March 2020 onward.

OCBC Bank

Rates Before New OPR Cut (%)

New Rates (%)

Base Rate/Islamic Base Rate

3.58

3.33

Base Lending Rate/Islamic Base Financing Rate

6.51

6.26

Deposit rates will also decrease by 0.25%.

All new rates will be effective from 9 March 2020 onward.

RHB Bank, RHB Islamic, and RHB Investment Bank

(Image: The Borneo Post)

Rates Before New OPR Cut (%)

New Rates (%)

Base Rate/Islamic Base Rate

3.50

3.25

Base Lending Rate/Islamic Base Financing Rate

6.45

6.20

Deposit rates will also decrease by 0.25%.

All new rates will be effective from 9 March 2020 onward.

Alliance Bank

(Image: The Star)

Rates Before New OPR Cut (%)

New Rates (%)

Base Rate

3.57

3.32

Base Lending Rate

6.42

6.17

Deposit rates will also decrease by 0.25%.

All new rates will be effective from 11 March 2020 onward.

UOB

(Image: UOB Glassdoor)

Rates Before New OPR Cut (%)

New Rates (%)

Base Rate/Islamic Base Rate

3.61

3.36

Base Lending Rate/Islamic Base Financing Rate

6.57

6.32

Deposit rates will also decrease by 0.25%.

All new rates will be effective from 11 March 2020 onward.

Agrobank

(Image: The Malaysian Reserve)

Rates Before New OPR Cut (%)

New Rates (%)

Base Rate/Islamic Base Rate

3.35

3.10

Base Lending Rate/Islamic Base Financing Rate

6.50

6.25

Deposit rates will also decrease by 0.25%.

All new rates will be effective from 12 March 2020 onward.

***

If you’re wondering, the base rate (BR) is essentially a reference rate from BNM that banks use to decide on the interest rate of your loans and savings. Before 2015, they depended on the base lending rate (BLR) as the reference rate. As there are still ongoing loans taken out before 2015 that refer to the BLR, banks are required to display both the BR and the BLR.

Prior to this second cut, BNM had already lowered the OPR once in January 2020, bringing it from
3.00% down to 2.75%
. The reduction of the OPR, and subsequently the BR and BLR, will
impact all Malaysians
 who have dealings with the banks.

(Source:
Bank Negara Malaysia
)

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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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World Bank: Malaysia To Reach High-Income Threshold Between 2024-2028

(Image: Malay Mail/Ahmad Zamzahuri)

The World Bank has said that Malaysia is likely to cross the high-income country threshold between 2024 and 2028, depending on the nation’s economic growth over the following years.

Revealed in its latest report “
Aiming High – Navigating The Next Stage Of Malaysia’s Development
”, the World Bank specified that Malaysia could achieve the new status by 2025 in a baseline scenario, provided that the economy enjoys healthy growth in the next few years. Alternatively, the nation will cross the threshold in 2024 under exceptionally vigorous economic expansion (high-case scenario), or 2028 under a less robust progress (low-case scenario).

The World Bank further clarified that the baseline projection is made based on the assumption that Malaysia’s economy will continue to expand around its potential growth rate, and that the ringgit-US dollar exchange remain unchanged at about RM4 to US$1 throughout the forecast period. Meanwhile, the high-case scenario is predicted based on elevated gross domestic product (GDP) growth and exchange rates, with the opposite applicable for a low-case scenario.

Additionally, the report said that the low-case scenario may be more likely because of a few reasons, one of which is the prolonged negative economic impact caused by the Covid-19 pandemic. Aside from that, there are also concerns that Malaysia is deindustrialising prematurely due to a drop in competitiveness in the electrical and electronics sector, as well as in manufacturing and exports in general. This, in turn, undermines the country’s long-term growth prospects.

That said, the World Bank also noted that Malaysia’s gross national income (GNI) per capita is estimated to reach US$11,200 (approximately RM46,150) in 2020 – only US$1,335 short of the current threshold level that defines a high-income economy.

(Image: The Sun Daily)

In response to the launch of this report, Finance Minister Tengku Datuk Seri  Zafrul Abdul Aziz said that Malaysia needs to relook at the way policies are set and the roles of government and institutions to improve its future socio-economic growth. On top of that, the country must attempt to cultivate a more knowledge-intensive and productivity-driven growth.

“I am aware that Malaysians aspire to have not just a high-income economy but also one that delivers meaningful improvements in living standards for the whole population. Malaysians increasingly aspire for both economic and social wellbeing – a high standard of living, not just high incomes; fulfilling jobs, not just something that pays the bills. And better public service delivery, not just the existence of such services,” said the minister.

(Image: The Star)

Meanwhile, Minister in the Prime Minister’s Department (Economy) Datuk Seri Mustapa Mohamed commented that the factor-driven growth that has buoyed the country to the cusp of attaining high income status is no longer enough to carry it past the high-income threshold. He said that this type of growth is becoming more costly to sustain as every unit of input injected into the economy now yields less GDP growth compared to the past.

“New sources of growth are needed to ensure that it is driven by multifactor productivity. We need to build a workforce for the future, drive digitalisation and spur productivity improvements at the sector and enterprise levels. With this in mind, Malaysia has strengthened its resolve in intensifying the digitalisation journey that first began with the Multimedia Super Corridor and [now] the
Malaysia Digital Economy Blueprint (MyDigital)
 launched by the Prime Minister on 19 February,” said Datuk Seri Mustapa.

The minister also added that the challenge now lies in finding ways to do things differently, creatively, and innovatively. As such, Malaysia needs to learn from its shortcomings, do things better, as well as consider the best practices in other nations.

(Sources: The Edge Markets [
1
,
2
,
3
])

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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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Budget 2022 Unanimously Passed By Dewan Negara

(Image: Malay Mail/Shafwan Zaidon)

Budget 2022 has been unanimously passed by Dewan Negara after its third reading by Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz.

Prior to this, the national budget – which was tabled for the first time on 29 October 2021 – was approved by Dewan Rakyat at the policy stage on 18 November. Subsequently, it underwent 13 days of debate and winding up, and was
approved at the committee stage on 13 December
. Budget 2022 then went to Dewan Negara for three days of debate and winding up by 27 ministries, before eventually being passed.

For context, Budget 2022 has a total allocation of RM332.1 billion, making it the largest national budget to date. It will fund
various strategies and initiatives
 that are expected to help Malaysia recover from the severe economic repercussions of the Covid-19 pandemic, including
tax reliefs
 and
financial aids
 for the people.

You can follow our
full coverage of Budget 2022
 here.

(Source:
Malay Mail
)

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Samsung Pay Now Supports Maybank Mastercard Cards

Samsung Pay has added Maybank Mastercard credit, debit, and prepaid cards to the list of payment cards it now supports, including Maybank Islamic cards.

Previously, Samsung Pay only supported Maybank Visa cards, which has not changed since the company launched the mobile payments solution in Malaysia two years ago. This long-awaited addition will be a welcome move to Samsung Pay users with Maybank Mastercard cards.

To celebrate the announcement, Maybank is offering Samsung Pay users a “mystery voucher” for completing four transactions within a month using their Mastercard via Samsung Pay. The campaign period starts on 1 September 2019 and ends on 31 January 2020.

Registering your Maybank Mastercard card on Samsung Pay is simple, and follows the same process as other cards. In the Samsung Pay app, open the “Payment cards” menu, and click “Add”. You can either snap a photo of the cardface, which automatically captures the card numbers, or enter them manually. After a one-time authentication and authorisation has been done, you’re ready to use your Mastercard with Samsung Pay.

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Bank Islam Set To Officially Launch Be U App, Malaysia’s First Islamic Digital Bank

Bank Islam has revealed that it will be officially launching its digital bank, dubbed Be U, in mid-July 2022. Rolled out in the form of a mobile banking app, Be U is said to be Malaysia’s first digital bank to be built natively on the cloud, and is targeted primarily at the younger generation.

According to the chief executive officer of Bank Islam, Muazzam Mohamed, the Be U app currently offers a savings account that allows for zero balance (called Be U Qard savings account-i), along with fund transfer capabilities. The app also has a feature called Nest, which enables users to save their money according to specific goals.

Aside from that, new offerings are also set to be rolled out in stages following Be U’s official launch in mid-July, staggered over the next 12 months. These include personal financial management features, where users can interact with a personalised financial coach, a basic financial product, QRPay, as well as something called Gigs.

Muazzam also clarified that the Be U app is actually already available for download since mid-June, but Bank Islam held off on making an official announcement as it was looking to gather useful feedback from users.

“Our baby that has been in the making, Be U, is now already available. It’s been two weeks already, and there have been points that we’ve taken [from users] on how we can make tweaks, but it’s been smooth so far. So, by the time we launch in mid-July, I think we’re fully ready to wow our customers in terms of the user interface and user experience,” said Muazzam.

Muazzam also commented that the Be U app is an offering that is aimed at the younger generation. “Let’s say you’re a final-year student at university, or someone who has just started your first job, or a gig worker, or someone below 30 who is just starting a family – what would be your needs from a financial requirements perspective? We’ve built a proposition on Be U for those needs specifically,” he said.

(Image: The Malaysian Reserve)

Muazzam further stressed that the Be U app will help Bank Islam break into new customer segments and convert younger users into future Bank Islam customers. “For example, a lot of the retail propositions in Bank Islam are more for people who are already a bit more established in their working lives. So, if Be U can capture a group that is still in the early stage of their working lives, once they move forward and need more complex financial products and instruments that Bank Islam already offers, then they can shift to become Bank Islam customers, and we are going to make [that shift] easy for them,” he further elaborated.

Ultimately, Muazzam said that the Be U app is expected to complement Bank Islam’s existing banking mobile app, GO by Bank Islam. It is also hoped that Be U will attract between 350,000 to 400,000 downloads and users within the first year of its launch. You can download the Be U app from
Google Play
 and the
App Store
.

Bank Islam’s rollout of its Be U app comes just about two months after Bank Negara Malaysia (BNM) announced the
five successful applicants for its digital banking licences
. The five consortiums that were selected are required to undergo a period of operational readiness – which may take up to two years – before they can begin actual operations.

(Sources:
The Edge Markets
,
Lowyat.NET
)

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It’s All Guaranteed Gifts This Week - RM600 Cash, Apple AirPods, Redmi Soundbar & More!

It’s time to unbox guaranteed cash and gadget prizes this week! Check out what you will definitely receive when you apply for selected credit cards with us!

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

This week (20 – 27 September), our featured bank partners are
Citibank, HSBC, Standard Chartered, Maybank, and CIMB

– if you have considered applying for any of these banks, check out the deals below.

Citibank – Guaranteed RM600 Cash Via DuitNow

Rain or shine, RM600 Cash via DuitNow is guaranteed when you apply, get approved, and spend with your new Citibank credit card! You can choose to spend it on groceries, essentials or better yet, invest it.

To be eligible, remember to activate and spend a minimum of 8 retail transactions on your new card within 60 days upon approval. Once the bank has confirmed your eligibility, you’ll receive instructions from us via email on how you can claim your gift.

Please take note that current cardmembers and individuals who have cancelled their Citibank credit cards within a year prior to this campaign do not qualify for this promotion. Otherwise, those who wish to apply for their new Citibank credit cards can
head on over here to do so.

HSBC – Guaranteed Apple AirPods

The well-sought Apple AirPods is a stylish addition to anyone’s gadget collection. Packed with an exquisite noise cancelling feature and high-quality sounds, the Apple AirPods are guaranteed when you apply, get approved, and spend with a HSBC credit card.

Upon approval, activate your new card and spend a minimum of RM1,000 within 60 days to take home your prize.

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

Standard Chartered Bank – Guaranteed RM500 Cash Via DuitNow

Another guaranteed cash prize with selected Standard Chartered credit cards! Receive RM500 Cash via DuitNow and spend it however you like, or save it for those special sale days that are coming up in a few months.

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

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

CIMB – Guaranteed Xiaomi Remdi Soundbar

Just apply, activate, and swipe any transaction amount with a new CIMB credit card to take home this guaranteed prize of a Xiaomi Redmi Soundbar. Use it in an open space to fill up the room with relaxing music or watch a movie for a surround sound experience.

Please take note that existing cardholders of any CIMB credit card and individuals who have held or cancelled a CIMB e credit card in the past 6 months are not eligible for this campaign. Otherwise, you can apply for a
CIMB e credit card here.

Maybank – Guaranteed Deerma VC01 Handheld Vacuum

Make your home a sanctuary and keep it clean with the Deerma VC01 Handheld Vacuum. Long gone are the days where the vacuum cables get in the way of weekend cleaning. Its lightweight body and powerful deep-cleaning features prove to be an essential item in every household.

Get the guaranteed Deerma VC01 Handheld Vacuum when you apply, get approved, and successfully perform the first swipe with a new Maybank credit card. You’re required to activate and perform the first swipe of any amount to be eligible for this gift.

This gift is guaranteed for all successful applicants. Existing cardholders of any Maybank Credit Card and those who had cancelled any of his/her Maybank Credit Card within 6 months before the date of application are not eligible to participate in this campaign.
Apply for a Maybank Credit Card here.

***

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

While this week’s flash deal ends on 27 September (1pm), do follow us on our
Facebook page
 to receive the latest Unbox This Week offers as we refresh the deals every week.

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Katrina Balan Quiroz

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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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HLB Revises Contactless Cumulative Limit For Debit Cards To Be Refreshed Daily

(Image: The Sun Daily)

Hong Leong Bank (HLB) has announced that it will be revising the way it refreshes the cumulative limit for contactless transactions on debit cards, enabling the amount to be reset either on a daily basis or with PIN entry.

“The cumulative contactless limit is set to prevent cardholders from exceeding a certain amount for consecutive contactless transactions. Effective 8 September 2021, the cumulative contactless limit will refresh on a daily basis or with PIN entry. The cumulative contactless limit remains defaulted at Ringgit Malaysia Eight Hundred (RM800),” the bank stated in its announcement.

Currently, debit cardholders are restricted to a cumulative limit of RM800 for consecutive contactless transactions (payments made by tapping your card against the payment terminal) that can be refreshed only via PIN verification. This means that when you perform several successive contactless payments – which can be spread out over a period of a few days – and exceed the RM800 cumulative limit, you are required to reset the limit by keying in your PIN at the payment terminal before you can proceed with the next payment.

Following this update on 8 September, however, the cumulative limit for contactless transactions will be reset via two ways: on a daily basis or through PIN verification. In other words, the cumulative limit of RM800 for contactless payments will be renewed every day, on top of the ability to refresh it manually via PIN verification – thereby allowing you to spend more conveniently. This is in comparison with the previous refresh criteria that only permits the limit to be reset through PIN verification.

Do also note that the RM800 cumulative limit is the default amount provided by HLB; you are able to set your own preferred cumulative limit to any amount between RM0 (i.e. disabled) to RM800. If you’d like to change your cumulative limit for contactless transactions, you can do so by visiting any of the bank branches nationwide.

(Source:
Hong Leong Bank
)

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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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GrabRewards Membership Tiers Will No Longer Earn Points From 1 July - Replaced By GrabUnlimited

In line with the
huge revision coming to GrabUnlimited
, Grab has shared some additional details on the changes coming to GrabRewards come 1 July 2022.

With the new GrabUnlimited, all Grab users will either earn 1.5 GrabRewards points or 0.75 GrabRewards points for every RM1 spent, depending on whether they are members or not. This means the current membership tiering system (Silver, Gold, and Platinum) will no longer have points-earning features from 1 July.

Instead, while the membership tiers will be retained, its benefits are more centered around exclusive discounts and a few perks for the Platinum tier. Grab shared the list of benefits in its
revised FAQ
, as shown below:

Silver Member
Up to 20% discount on walk-in rates at over 70 airport lounges in SEA
Gold Member
Up to 40% discount on walk-in rates at over 70 airport lounges in SEA
Up to 10% discount at more than 80 F&B merchants at airports in SEA
Platinum Member
Priority allocation for Grab Rides
Prioritised Platinum Support
Up to 55% discount on walk-in rates at over 70 airport lounges in SEA
Up to 20% discount at more than 80 F&B merchants at airports in SEA

At the same time, Grab will also make a minor tweak on how GrabRewards points expire. Currently, GrabRewards points have a 3-month rolling expiry which refreshes after a user makes a points-earning transaction before the expiry date. From 1 July, the 3-month rolling expiry is maintained, but users will now need to make one transaction
using the GrabPay Wallet
 to refresh the rolling expiry date.

This isn’t too big an issue, since the GrabPay Wallet is the default payment method in the Grab app. This also means paying bills on Grab will reset the rolling expiry date of your points (since paying bills does not earn GrabRewards points). As a further clarification, Grab states that transactions that do not extend the validity of GrabRewards points are cash and card transactions, GrabPay credits transfer (P2P), GrabPay Wallet top-ups, Grab Subscription purchase or renewal, and GrabRewards redemptions.

In many ways, this simplifies the GrabRewards points structure. Even after a few years of its introduction, there are still users who get confused as to how many GrabRewards points do they actually earn per RM1 spent. It also means there is less significance on the membership tier – you no longer have to be a Platinum member to earn the highest returns on Grab; you just need to subscribe to GrabUnlimited (though the set of vouchers you get makes it
more than worth subscribing to
, even if you’re a casual Grab user).

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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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    Diana Low

    1 year ago

Been an active Grabpay user since 2017. Starting from 20pts to 3pts to now 1.5pts, Grab is slowly but surely driving me away from using their so called superapp. It’s no longer as beneficial to use as before. Look at the ridiculous Grabcar fares. I no longer able to afford Grabplus coz JustGrab is just as expensive

7

Reply

    Js L

    1 year ago

    Reply to

        Diana Low

Agree. 20 points to 3 points already very significant. Now 1.5/0.75 point that’s just kidding. I turned down boost this year and hop back grab, but now I guess is hopping back CB credit card.

0

Reply

    Anonymous

    1 year ago

WAS an active Grab user, but since their slow but sure transition into PURELY COMMERCIAL platform without any regards to its customers, I have decided to quit Grab. I urge you all to do the same and rely less on Grab. Otherwise, little did you know you will be completely reliant on Grab, by which they will totally control you.

3

Reply

    SY Lau

    1 year ago

Time to say bye bye to Grab Pay

2

Reply


Is Green (Investment) the New Black?

In the recent Budget 2018, an income tax exemption in the form of an RM6 million grant is declared for recipients of the special Green SRI Sukuk grant to stimulate sustainable and responsible investment (SRI) in Malaysia.

With the launch of Malaysia’s first green sukuk by the Securities Commission Malaysia, you may be wondering what’s the fuss surrounding sukuk and the other projects that fall under it. No worries as we will tell you everything you will need to know about sukuk, it’s derivatives and other financial products that have gone green as well.

What is Sukuk?

According to Asharq Al-Awsat (international Arabic newspaper), sukuk refers to fixed income financial certificates that are permissible within the provisions of Islamic Sharia law. The principles of sukuk are simple: as a sukuk holder, you are given an ownership share of a specific asset or instrument under a Shariah-compliant contract.

These assets/instruments will then generate returns which you can keep as a part of your investment plan or use for other purposes.

How Does Sukuk Differ from Conventional Investment Bonds?

Let’s say that you are interested in investing in bonds. You will be making a loan to the government or corporation and in return, you will receive a principal payment upon the maturity or expiry of the bond. This payment is accumulated in the form of an interest/
 riba
 and as this transaction could potentially hurt one of the two sides, it is usually prohibited in Islamic financial practices.

For instance, if you are investing in a conventional bond, you will need to rely greatly on the credit quality and duration of the bond that is issued. In the situation that your bonds had failed or underperformed, the risk will be yours to bear and not the bond issuer.

On the other hand, should you choose to invest in sukuk, as opposed to bonds which are interest-based, sukuk are usually issued in certificates. The funds received from sukuk are used to purchase an asset or instrument that are mutually owned by you and the sukuk issuer. Due to the asset-based nature of sukuk, it can be used to generate income for distribution of payments.

There is a shared risk between you and the sukuk issuer so if you are looking for something that allows the risk of investing to be distributed evenly (as sukuk issuers would still need to make payment to you even if your sukuk did not meet it’s expected performance), then sukuk is the way to go.

Interested to learn more about
 Islamic finance
? You may want to read up on our other article which touches on the

 basics of Islamic banking
 and learn what are the other features that differs Islamic banking from conventional banking.

I See. What is So Special About Green Sukuk Then?

 Leveraging on Malaysia’s status as a powerhouse for Islamic finance
, the government has initiated the collaboration between two financial market regulators, Bank Negara Malaysia (BNM) and Securities Commission Malaysia to push “the world’s first green sukuk”.

Green sukuk is loosely defined as green Islamic bonds that are issued to finance sustainable infrastructure projects (usually in renewable energy and other environmental assets) and promote climate-resilient growth in countries.

The funds from green sukuk can also go into financing the payment of a government-granted green subsidy. As a growing number of developers are focusing on projects that emphasize on eco-conscious projects that actively contribute back to the community, it can be said that the future of Malaysia will be centered around green technology as well as sustainable development.

That’s Cool. Are There Any Other Products Under Green Finance?

Sukuk is not the only financial product that has gone green, here are a few other financial products that have taken a similar route in previous years:

 Green mortgage
 – Also known as an energy-efficient mortgage, it allows you to borrow cash from financial institutions to fund the purchase or upgrades for an energy-efficient home. The aim of a green mortgage is to provide homeowners the opportunity to integrate spaces that are not only eco-friendly but also adhering to the sustainable living policies of using fewer resources for cooling and heating their homes.

Hence, if you are thinking about installing solar panels to harness sunlight as a form of alternative energy source for your household while lowering your overall utility bills, you will greatly benefit from a green mortgage.

 Green credit card
 – Not to be confused with the AMEX Green Card (which is a charge card by the way), a green credit card is targeted at individuals who are looking for a is a financial product that comes with carbon footprint reduction features. One of the main draws for a green credit card is that it donates a percentage of your spending to green initiatives that address environmental issues so if you

 Green bond
 – Created by European Investment Bank and the World Bank, green bonds are launched in 2007 with the aim of raising money, like a regular bond, but towards funding projects that are categorised as green or environmentally-friendly. High favored projects include renewable energy, clean transportation, and sustainable water management.

Having said that, do note that not all of these products are available in Malaysia although this situation is expected to change in the near future.

I am Interested in Investing in Sukuk. What Are the Things I Can Do?

The qualifications for sukuk investment varies between different banks. For instance, if you are interested in
 investing in sukuk from Maybank
 as an individual, you will need to prove that you have a total net personal asset of RM3,000,000 or its equivalent in foreign currency and make a minimum investment amount of RM250, 000 to qualify.

Want a more accessible and simpler way to invest your hard-earned money without getting caught up in the complications of conventional banking practices? Well then, you might want to look for an Islamic fixed deposit account instead and let your money grow in line with Sharia law practices. Look no further as our
 comparison tool
 will allow you to choose and compare between different Islamic fixed deposit accounts, making your financial planning activities a cinch.

Do you know of any green financial products that are not mentioned the article above? Let us know in the comments below!

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5 Of The Hottest Smartphones To Buy On 11/11 2018

The world’s biggest one-day sale is happening soon, and on 11 November, many would take advantage of the massive discounts and voucher codes to grab a good deal for a new smartphone. Now that all the biggest smartphones of the year has been launched, here’s a look at the most popular – and best – smartphones to buy on 11/11.

Huawei Mate 20 Pro

If the Huawei P20 Pro announced the Chinese company to the world as a maker of great smartphone cameras, the
Mate 20 Pro
 is likely to cement that reputation. The Mate 20 Pro builds on the imaging breakthroughs Huawei has achieved in collaboration with Leica, and judging by the crowd lining up to buy the device on its launch day, it’s easy to see just how excited Malaysians are for this device.

The Huawei Mate 20 Pro isn’t just promising to be a smartphone camera beast, either. Inside is a new Kirin 980 chipset, which Huawei claims to be one of the best mobile chipsets in the market today. There’s also a fingerprint sensor built underneath the display, a Face Unlock mechanism utilising a new 3D infrared camera that maps an accurate model of your face, and a massive 4200mAh battery that can even wirelessly charge other devices.

At a price of RM3,599, it won’t come cheap, but Huawei is offering a boatload of features on this phone which will justify the price tag for many customers.

Apple iPhone XR

This year, Apple has done away with the iconic designs of the iPhones of old. 2018’s iPhone models all have the same design language as the iPhone X, sporting a notched display and no home button. The
iPhone XR
 is the “affordable” model in this year’s lineup, and comes with a range of funky colours that would appeal to a younger crowd.

But the reason we’re highlighting this over the iPhone XS and XS Max is because internally, all three models are the same. They are all powered by the new Apple A12 Bionic chipset, currently the fastest mobile chipset in the market today based on its performance on several benchmarking software. It’s also got a bigger battery than the iPhone XS, and while it uses an LCD display that’s not as good as the OLED panels in the XS and XS Max, its starting price is RM1,400 lower than the iPhone XS, and RM1,800 less than the iPhone XS Max.

Pocophone F1

You may have heard of a new smartphone brand called Pocophone, which launched its first phone shortly after announcing itself as a new player in the smartphone industry. Its first smartphone, the
Pocophone F1
, is an absolute beast in terms of hardware, featuring high-end specs like a Snapdragon 845 chipset, 8GB of RAM, and a 4000mAh fast-charging battery.

The absolute killer part about this phone is in its price: starting at just RM1,299, the Pocophone F1 redefines the entire mid-range smartphone category. No other smartphone offers flagship hardware at the same price range, making this the king of value-for-money smartphones.

Samsung Galaxy Note 9

The smartphone series that kickstarted the “phablet” phenomenon. The
Galaxy Note 9
 is highly regarded among critics for finally delivering everything a power user asks for: high performance, long battery life, and new capabilities unlocked by the ubiquitous S Pen. Samsung was even lauded for getting the fingerprint sensor placement right!

In some ways, the Galaxy Note 9 looks almost like a “last hurrah” device from Samsung. No, I certainly don’t mean that the South Korean giant is exiting the business, but rather a fond farewell to Samsung’s now-iconic smartphone design. It has largely stuck true to the curved display it pioneered on the Galaxy Note Edge way back in 2014 and refining it with the gorgeous Infinity Display in 2016’s ill-fated Galaxy Note 7, displaying Samsung’s newfound design panache. As Apple’s designs barely moved, Samsung has taken the lead as a maker of beautiful smartphones.

But with rumours of smartphones with foldable displays looming ahead, it may be the time that Samsung establishes itself as a leader in smartphone design once again. 2019 promises to be a very interesting year, but until then, the Galaxy Note 9 is the device power users always wanted. The best part? Its retail price has dropped dramatically since its launch last month, where you can now get one for around RM2,700 – almost RM1,000 below its launch price!

OnePlus 6T

Fresh off its global launch, the OnePlus 6T is already available for pre-order in Malaysia. The company that pioneered the “high spec, low price” model for flagship smartphones is back with another excellent device – even if its retail prices are noticeably higher than previous models.

Compared to the Galaxy Note 9 and Mate 20 Pro, the OnePlus 6T manages to hold its own with its powerful hardware (Snapdragon 845, up to 8GB of RAM, up to 256GB storage) and a handsome design that includes a “waterdrop” notch, which is aesthetically much better looking than most notched displays in the market today. Oh, and its
price range from RM2,588 to RM3,188
, making it markedly more affordable than the two top Android smartphones mentioned in this list.

It is almost double in price compared to the Pocophone F1 though, so you’ll need to decide if the premium materials and better-quality display (among others) are important enough to pay the premium for.

A Great Time To Buy A Smartphone

2018 has seen some fantastic smartphones being released, and with the emergence of Huawei, shopping for a new smartphone is definitely an exciting process this year. If you’re highly invested in the Apple ecosystem, you’re likely to be limited to the three new iPhone models. But if you’re an Android user, the choice of upgrade is more varied.

You can’t go wrong with choosing any of the smartphones listed here, and personal preference would largely be the deciding factor. Just be sure to look around for the best deal and save money in the process!

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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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How To Safely Shop Online With A Credit Card

Over the past few years or so, online

shopping has gotten a lot more convenient and inexpensive (free shipping

anyone?) that it is getting harder and harder to justify bother visiting brick

and mortar outlets and be awkwardly followed around by their attentive staff.

There is no stopping this train as more and

more Malaysians jump on the online shopping bandwagon, with local online retailers such as

Zalora
, popular auction website
Lelong.my
, and even DIY handicraft retailers on
Etsy Malaysia
 sprouting overnight and populating the marketplace — the Internet really is the most revolutionary marketing tool ever since,

well, the invention of the printing press.

But let’s cut back to the consumer’s side

of things —

how can you ensure that your credit card or debit card details are

kept safe online? Can we trust that our transactions are not being watched by

other people? Because as you know, the Internet is also fertile ground for

scammers, hackers, and the less malicious but no less amusing

“trolls”.

How Does Online Payment Work?

When making a payment at the online

checkout counter, you will be prompted to enter your credit card or debit card

details. More specifically, they will need your full name, credit card number,

card expiry date, verification code (the 3 numbers on the back of your card),

and a billing and/or shipping address — these are fairly standard. In addition,

your e-commerce transactions are also protected by Verified by Visa and

MasterCard Securecode, collectively known as 3D Secure. What are these things?

Let us introduce to you two-step authentication.

Two-step authentication

Two-step authentication, also known as 2

factor authentication is the added process after filling in your card details.

A one-time password will be sent directly to your mobile phone via SMS which

you will need to enter when asked. Below is a step-by-step example of an online purchase

using a CIMB credit card with 3D Secure enabled, called CIMB Secure ePay:

How does this makes thing safer? Simple —

Only you and the bank will know the password, it is not stored anywhere else, only

used once, and never recycled. It is important that the mobile number that you

have registered with the bank is still in use, otherwise, you will need to go

to an ATM machine or bank branch to update your particulars. Other banks such

as Maybank also have a similar system called MSOS, or Maybank Secure Online Shopping.

HTTPS

This is also probably a good time to introduce you to

Hypertext Transfer Protocol Secure
, or HTTPS. You probably see it everyday in your browser address bar, but what does it do? Without getting too technical, it is a widely deployed way for computers and servers to communicate safely. It plays a big part in keeping your information safe during e-commerce transactions, so make sure that you see these initials when making any transactions online.

PayPal

If you have ever made a purchase on eBay,

then you would have definitely used PayPal. For those of you who have never bid

or bought anything on eBay, Paypal is a popular service that allows you to pay

online using cash stored in your PayPal account, or cash in your linked bank

account or credit card.

This

service will definitely limit direct access for merchants to your credit card

or bank account, while giving you the same if not more benefits such as:

1. For

$29.95, or RM97, you will be able to purchase the PayPal Security Key.

It is a card that displays random security codes for your account every 30

seconds. You can also have these codes sent to your

mobile phone.

2. If

your credit card linked PayPal account gets hacked, your liability will be

limited to $50, which translates to RM160 if you report within 2 business days.

The same cannot be said for an account linked to your bank account, as a

perpetrator can siphon money out directly from your bank account!

Other popular alternatives to PayPal include – Google Wallet, Skrill, and Paymate.

Phishing Emails

Never ever, ever respond to bank emails,

SMSes, browser pop-ups, and even telemarketers calling to request that you give

them your credit/debit card details to “update” your records, or for

any other reason whatsoever — they simply have no business in knowing these

things, and sharing sensitive information such as passwords through email

shouldn’t be in a bank’s best practices handbook. These are simply scammers and

crooks who are out for your hard earned money. Here is an example of a common

phishing email:

From the image on the left, what are the tell-tale signs of a fake and fraudulent email? Easy, the mere fact that they are

asking you for your credit card information or online banking credentials!

Local banks have been

actively

doing

their

part
 to warn their customers of

these threats. In extension, it is very important that you do not keep

sensitive information such as passwords on your computer if you can help it. End

of story.

You Need To Play A Role Too

It is never a good feeling to look at your

account balance or monthly credit card statement and not remember that you’ve

made some of the transactions printed in black and white — perhaps because it

wasn’t you!

Something you should periodically do is to check on your monthly

statements for any suspicious activity, and it is important to know where

you’ve used your card and at what amounts.

Always keep your receipts and cross check

with your online statements using online banking. I myself have been a victim

of credit card fraud — someone decided that it was a good idea to buy RM150

worth of concert tickets using my credit card.

Thankfully, I regularly check my

account statements and have noticed the transaction. After a month

of calling and emailing to the bank, the full amount was credited back into my

account. Phew!

Other Things to Consider

If you have the time, do read the retailer’s

online privacy policy. You may be surprised as to how a website handles, stores,

and uses your personal data. We may never be 100% safe from credit card fraud or

identity theft, but we can help to make ourselves less vulnerable by carefully

picking out the more legitimate e-commerce websites, with favourable reviews.

Try not to finalise transactions when using a public

and easily accessible Wi-Fi connection such as at a Starbucks, and

always make sure your computer’s anti-virus is up-to-date and running in the

background — you never know who’s snooping around.

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Penang Taxi Drivers Association Introduces cALLme Cab, An Alternative For Grab

(Image:
Says
)

To combat the increased competition from Grab, the taxi driver association in Penang is embracing an app solution called cALLme Cab, and will support rides around the island.

Mohamad Shahimi Hadzri, president of Gabungan Persatuan Pemandu Teksi dan Pemandu Kereta Sewa Negeri Pulau Pinang, said that 500 cabbies are currently registered to drive with cALLme Cab. Mohamad Shahimi is hopeful for more to join them, including the state’s 2,000 plus taxi drivers.

cALLme Cab will display an estimated fare when the user enters a destination, which will be strictly enforced so bargaining is not an option. The rate will start at RM4 and each additional kilometer will cost RM1.40.

(Image: MalayMail
)

At the launch, Penang Chief Minister Chow Kon Yeow praised the taxi drivers’ initiative, and even stated that cALLme Cab is “better than Grab”. “The taxies are insured, licensed and underwent stringent Puspakom checks as opposed to private vehicles used by Grab drivers so with rates that are almost similar using the cALLme Cab app, it is better than Grab,” he said. He also stressed the importance of taxi drivers to be confident in using cALLme Cab to see its success. To compete with Grab, cALLme Cab is offering competitive rates with similar ease of use. It has a similar set up that offers a transparent, reasonably priced fare system that will attract customers.

(Image: Malay Mail
)

At the moment, cALLme Cab is only available in Penang but the association is hopeful to extend it to Sungai Petani in Kedah. cALLme Cab was actually
launched in the Klang Valley last December
 for KLIA airport transfers, but technical issues with Malaysia Airport Berhad (MAB) resulted in a delay for its launch.

(Source:
Malay Mail
)

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Hayatun Razak

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Selangor State Government Offers Health Schemes For B40 Group

(Image: Malay Mail)

The Selangor state government will be providing health assistance to the B40 group under the Bantuan Sihat Selangor scheme, offering up to RM5,000 per patient.

The state government has allocated RM5mil for this health scheme to help patients apply for kidney dialysis, prosthetic legs, minor surgery, cancer treatment, eye cataract operation, physiotherapy treatment, and other hospital-recommended needs. Cancer treatment was recently added to the list, which will also cover travelling expenses and follow-up costs. However, chemotherapy will not be part of this health assistance, as it is free in government institutions.

The state will not consider reimbursing payments, cash handouts, or private hospital treatment, but instead, eligible patients will be able to claim at one go for a maximum of RM5,000 a year. To be able to claim from the health scheme, patients will need to bring a doctor’s recommendation to their assemblyman’s office to help with the application procedure. For example, patients who need to undergo a cataract operation can request for funding with a doctor’s letter and supporting documents; the state government will then prepare everything and help fund it.

Dr Siti Mariah Mahmud, State Health, Welfare, Women Empowerment, and Family Committee chairman said that the health scheme was popular among senior citizens as the 2018 budget was exhausted because of the positive response from the public. Senior citizens aged 60 and above that are registered for the Senior Citizen Scheme (Skim Usia Emas) will be encouraged to apply for the Bantuan Sihat Selangor scheme as well.

Most B40 cannot afford to attend government doctor-recommended physiotherapy sessions; some would even face difficulty leaving their homes. Hence, several registered mobile physiotherapy units will be sent over to the patients to offer their services.

If you are under the M40 category (middle-income 40%) and have children that are disabled or taking care of ill parents, the state government will also consider reviewing these cases and provide support accordingly. Dr Siti Mariah also added that all government hospitals in Selangor are already aware of this health scheme.

For more details on the Bantuan Sihat Selangor, call 03-55447628/7543 or visit
http://bantuansihat.selangor.gov.my
.

(Source:
The Star
)

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Apple Launches A RM99 Polishing Cloth

As Apple unveiled several new products and updates during its Unleashed event yesterday – such as the upgraded MacBook Pro line-up and AirPods 3 – the tech giant has also quietly listed another brand new product on its website: a polishing cloth for Apple devices.

Priced at
an astonishing RM99
, the cloth is said to be “made with soft, non-abrasive material” with Apple’s official logo stamped on a corner, and will clean “any Apple display, including nano-texture glass, safely and effectively”. The product page has a compatibility list that tells you which Apple products you can use the Polishing Cloth with – though in fairness, this is more likely a requirement on the website’s product filtering function than to tell you it isn’t compatible with the iPhone 5. No information on the size of the cloth is provided, however.

To note, Apple is fairly particular about the maintenance and upkeep of its devices, having previously provided
a guide on how to clean its products
. In the guide, the tech giant specifically informed customers that they should clean the surfaces of their Apple devices using a 70% isopropyl alcohol wipe, 75% ethyl alcohol wipe, or Clorox disinfecting wipes. Meanwhile, you should not use products containing bleach or hydrogen peroxide, and should use “only a soft, lint-free cloth to clean”, avoiding abrasive cloths, towels, paper towels, or similar items.

In the US, Apple’s polishing cloth is actually priced at US$19, which is equivalent to about RM79. Despite some major tech sites – such as
Gizmodo
 and
The Verge
 – voicing their incredulity about the price, it seems that people are still snapping up the item regardless. A recent report has indicated that initial supplies are now
sold out until late November
. This update is also reflected in Apple Malaysia’s website, where the product page states that the polishing cloth will only ship in about six to eight weeks. Earlier today, shipping was estimated to take place between four to five weeks.

Pricing aside, it should be noted that while modern glass screens are tougher and more scratch-resistant than they ever were, using abrasive cloth materials can damage the surface of the glass. Most microfibre cloths will do the job as well as Apple’s Polishing Cloth, but using your clothes, rags, or tissue paper may result in visible micro-scratches.

(Source:
Apple
)

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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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LHDN: Eligible BPN Recipients Yet To Receive Aid Should Update Bank Details

Approved Bantuan Prihatin Nasional (BPN) recipients who have yet to receive their aid should update their bank account details by 30 April 2020, urged the Lembaga Hasil Dalam Negeri (LHDN).

“The updating of bank account information should be done by April 30 to enable the BPN payment to be credited into the account in May,” said LHDN in a statement. It added that this is vital to ensure that the payouts can be delivered safely and smoothly.

LHDN
 also reminded BPN recipients to use only official channels to update their bank information. “For the updating of bank information, please be informed that LHDN will not ask for the TAC for the purpose of channelling the BPN funds,” it said.  Those who wish to update their active bank account information can do so at LHDN’s
website
.

Meanwhile,
LHDN’s FAQ
 noted that individuals who qualify for the BPN aid but do not have tax records with the LHDN will receive their payments via other channels. Those who fall under the B40 category will get their payouts in cash through Bank Simpanan Nasional after the movement control order (MCO) is lifted. BPN recipients in the M40 category, on the other hand, may have their payouts credited to the bank accounts of their household heads – among other payment channels.

(Image: Bernama)

Alternatively, those who are not registered with LHDN can also make
new applications or online appeals
 until 30 April 2020.
Bankrupt or blacklisted individuals
, too, are eligible for the BPN aid, and can apply online as well.

The
 BPN aid
 was announced during the reveal of the Prihatin Economic Stimulus Package at the end of March 2020, and was originally slated to be paid out at the end of April 2020. However, disbursement of the aid was eventually
brought forward to 6 April 2020
 instead.

For more information, you can contact LHDN though the Hasil Care Line at 03-8911 1000, the HASiL Live Chat, or the
feedback form
 on its official portal. You can also check out its
Facebook
 and
Twitter
 as well.

(Source:
The Star
)

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Alex Cheong Pui Yin

Alex Cheong Pui Yin

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

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How Do You Know if a Property is in a Good Location?

One of the most exciting moments in your life can be selecting your home! When buying a house either for your own personal use or as an investment, one factor you need to seriously consider is location. It’s the cliché golden rule in selecting real estate. But how can you tell if a property sits at a good location? To help answer this, we’ve outlined a few important factors that contribute to making a good location great:

1. Connectivity

If you’ve noticed, the major cities like Kuala Lumpur, Petaling Jaya, and even Subang are saturated with population and development. Therefore, developers are creating new communities in new suburban areas slightly farther out, which are also more affordable. So whether you are looking for a home in the heart of the city or further away, one easy marker of a good location is good accessibility with preferably more than one point of entry.

Today, commuting to and from work is a big part of the urban lifestyle. Therefore, if you are looking for a new neighborhood farther out in the greater Klang Valley, do make sure to select those that are situated close to the city’s major routes and highways.

Residensi Bintang Bukit Jalil is a prime example of a development that is well-connected. It is situated in close proximity to 5 major highways. Lebuhraya Damansara-Puchong, the Maju Expressway, KESAS Highway, the Bukit Jalil Highway, and KL-Seremban Highway.

This connectivity makes it possible for residents to get around and get to major cities in Klang Valley within minutes.

2. Neighbourhood

Firstly, a good development is one that has the potential to mature into a solid neighbourhood. It is one that is planned with its residents in mind. One that comes complete with shopping malls, schools, banks, eateries and all other necessary amenities have greater demand and desirability.

Secondly, a neighbourhood that is located in close proximity to public transportation is also an additional plus. It offers you the best of both worlds – one where you can choose to drive or choose to be environmentally friendly by reducing carbon footprint. On top of that, it can save you money on gas and conserve energy.

Thirdly, safety is a highly sought-after feature. Neighborhoods with a low crime rate give a sense of safety and peace of mind. This is especially important to families with young children – to provide them a secure environment. Speaking of their environment, neighbourhoods that are well-landscaped with various recreational facilities is another contributing factor to the location as health-conscious people are one of the fastest growing markets in the world.

Residensi Bintang Bukit Jalil is also the perfect example as it is only situated 50m away from Tzu Chi International School, 2km away from the new Bukit Jalil City Mall and merely 6.5km away from the new Paradigm Garden City Mall. It is also near to Alam Sutera LRT station and Awan Besar LRT station which is only 2km away and 5.5km away respectively. The property also has an unobstructed view of the majestic Titiwangsa mountain range due to its 15 meter elevation from the main road, making it the highest positioned condominium in the area. It’s also close to Bukit Jalil Golf & Country Club, Bukit Jalil National Stadium, as well as Bukit Jalil Recreation Park which makes it a great neighborhood for family activities.

3. Development

In an ever-changing world, it is always good to think ahead. When it comes to the maturity of the township/neighborhood, we should at least know the future prospect and the potential of the area development. Therefore, the current state of a property shouldn’t be the only thing you look at when determining how good the location is. As we stated earlier, it is important to know what the development and location is master-planned with growth and solid infrastructure. So, take note of the existing, ongoing or future developments. Empty lands could either make or break the township.

Now that you’re aware of how these three major factors affect the selection of a home, find out more about how Residensi Bintang Bukit Jalil fulfills the above-mentioned criteria. Visit the
website
 to find out more.

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Maxis Offers Special Deals For 25th Anniversary, Including RM25 Smartphone Offers

Maxis is offering a variety of special offers and promotional deals in conjunction with its 25
th
 anniversary celebrations. Maxis, Hotlink, and Maxis Business customers can tap into these attractive promotions, which run from the month of August until September.

RM25 Smartphone Deals

The most attractive deal would be the RM25 smartphones promotion offered to all Maxis Postpaid, Hotlink Postpaid, Maxis Fibre, Hotlink Postpaid and Hotlink Fibre customers. Maxis will be giving out the latest smartphones at RM25 each for 25 days, including models like the Samsung Galaxy Note 20, iPhone 11, and Huawei P40.

As this promotion runs from 25 August to 18 September, the telco has yet to release the full details of the deal. Maxis Business SME and corporate customers as of 31 July will be eligible for the RM24 smartphone promo too.

25GB Free Internet For Hotlink Prepaid

Meanwhile, Hotlink Prepaid customers can get 25GB of free internet with the purchase of any valid HotlinkMU Merdeka deals. This promotion will run from 20 August to 16 September 2020.

250 Loyalty Points For SME Digitalisation Grant Sign-Ups

Maxis will also be giving away loyalty points to the first 250 eligible existing Maxis Business customers who sign up for the SME Digitalisation Grant offer. The eligible customers will each get 250 loyalty points worth RM375 (each loyalty point is equivalent to RM1.50). This offer will run from 18 August until 31 August 2020.

RM25,000 Worth of App Rewards

All Maxis and Hotlink customers can access RM25,000 worth of reward vouchers from their respective loyalty apps from 18 August to September 2020. Maxis customers can find their vouchers on the
MyMaxis
 app, Hotlink prepaid customers from the
Hotlink Red
 app, and Hotlink postpaid customers on the
Hotlink Postpaid
 app. One of the more than 200 vouchers offered is a
25% discount on Malaysia Airlines flights
 to domestic destinations.

***

Together with its 25
th
 anniversary celebrations, Maxis has also revealed its new brand purpose: to “always be ahead” in a changing world. According to the telco, its new commitment drives towards bringing the best of technologies to help people, businesses, and the nation to always be ahead. Furthermore, Maxis has launched a series of digitalisation programmes to provide assistance for digital adoption and acceleration in communities across the country. To find out more about these initiatives, you can visit the
Maxis website.

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    Chrisnjacobs

    3 years ago

Unable to order the offer always closed. Is this deal genuine or syndicate control

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CIMB Consolidates Bonus Points For Its Products, Revises Validity Period For Bonus Miles

(Image: Bernama)

CIMB Bank has revised several terms in its Member Rewards Programme in a bid to provide a more convenient experience for its cardmembers. This includes consolidating the Bonus Points of its credit cards along with other retail banking product, as well as revising the way CIMB determines the validity period of Bonus Miles. These changes will take effect starting from 8 November 2021.

With regard to the consolidation of the Bonus Points for CIMB’s credit cards and other retail banking products, CIMB stated that the Bonus Points for credit cardholders, debit cardholders, CIMB Preferred customers, CIMB Prime customers, and CIMB@Work customers will all be merged at customer level starting from 8 November. With this, CIMB customers will have an overview of their total available Bonus Points, thereby making it easier to calculate and redeem their Points.

At present, these Points are separated according to the different banking products, and customers collecting Bonus Points under non-credit card products (such as debit cardholders, CIMB Preferred customers, CIMB Prime customers, and CIMB@Work customers) may transfer their Points to their credit card account to use. Following this upcoming revision, these transfers are no longer applicable.

Aside from that, CIMB further noted that credit cardholders will soon be able to redeem their Points online via the CIMB Clicks website (desktop), except for selected requests:

Bonus Miles redemption
BIG Points conversion
Conversion of Bonus Points under the Points Transfer Partners Programme
Cashback to offset credit card balance

For these selected requests, you are required to go through other channels, including CIMB’s consumer call centre at 03-6204 7788 or the
CIMB Member Rewards page
. Of special note is the distinction made for cashback redemptions made through the CIMB Member Rewards page and the CIMB Clicks website; cashback redemptions made through the Member Rewards page will be used to offset your credit card balance, whereas those made through the CIMB Clicks website will be credited to your CIMB savings or current account.

Aside from that, CIMB is also revising the way it determines the expiry period for Bonus Miles that are awarded to CIMB Enrich credit cards, namely CIMB Enrich World credit card, CIMB Enrich World Elite credit card, and CIMB Enrich Platinum credit card. Currently, Bonus Miles will expire three years after the
end of the statement cycle month
 during which it is earned.

Starting from 8 November onwards, however, your Bonus Miles will expire three years later, on the
last day of the relevant quarter
(31 March, 30 June, 30 September, or 31 December). To illustrate, Bonus Points earned in the first quarter of 2021 will expire on 31 March 2024, whereas those earned in the second quarter of 2021 will expire on 30 June 2024 – and so on. Here’s a table to clearly summarise the new validity period:

Bonus Miles earned
Bonus Miles expiry (Starting from 8 November)
1 January to 31 March 2021
31 March 2024
1 April to 30 June 2021
30 June 2024
1 July to 30 September 2021
30 September 2024
1 October to 31 December 2021
31 December 2024

According to CIMB’s announcement, this revision to quarterly expiry is necessary to align with the expiry of non-credit card Bonus Points.

(Source: CIMB [
1
,
2
,
3
])

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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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Budget 2021: MOF Expands One-Off Payments For Frontliners, e-Belia

(Image: Bernama)

The government has agreed to expand the scope of the one-off payments offered to frontliners battling Covid-19, and also the e-Belia incentive offered to Malaysian youth.

These two initiatives were announced earlier during the tabling of Budget 2021. During the winding up of the Budget in Parliament today, Finance Minister Datuk Seri Tengku Zafrul Abdul Aziz announced expansions to the one-off payment schemes.

“The government has agreed to extend the special one-off payment of RM300 to all other frontliners,” said Tengku Zafrul. These would include non-medical frontliners such as the police, army, and RELA. When the Budget was first tabled, the one-off payment was only given to the
Health Ministry’s frontliners
 in a sum of RM500.

Meanwhile, the special RM50 incentive under e-Belia e-wallet credit for youths aged between 18 and 20 years old has been expanded as well. Recipients of e-Belia will now be granted RM100 in e-wallet credit instead of the
RM50 announced previously
. Moreover, the scheme is extended to include 1.1 million students from institutions of higher learning who are above 20 years old.

Alongside these additions to Budget 2021, further amendments were made including the EPF Akaun 1 withdrawal scheme and other adjustments.

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Jacie Tan

Jacie Tan

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